CIR GROUP: 37.5 million of net income. All subsidiaries show growth: revenues +11%.


Board approves results of first half of 2005.

Consolidated results of first half 2005 (with the new IAS/IFRS accounting principles)

Revenues 1,704.5 million euros (+11%)
Ebitda 217 million euros (+19.1%)
Ebit 169.3 million euros (+22.9%)
Net income 37.5 million euros (86.3 million in first half 2004 thanks to an extraordinary capital gain of 64,5 million euros)

Aggregate net financial surplus 392 million euros (448.6 million at January 1 2005)
Consolidated net financial debt 391.8 million euros (75.5 million at January 1 2005)
Total shareholders’ equity 1,732.7 million euros (1,702.7 at January 1 2005)

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