OREANDA-NEWS  On 02 October MIRAX GROUP announced its key financial results. In 2007 it achieved earnings of USD 1.28 billion and EBITDA of USD 580 million. The 2007 results turned out to be almost equal to the sales volume for the first half of 2008. If the market tendencies preserve, by the end of the year the earnings from sales will exceed USD 2 billion.

The report on MIRAX GROUP’s activity was presented at a press conference on September 17, with the corporate Board of Directors participating, including Sergey Polonsky, Maxim Privezentsev, Dmitry Lutsenko, Maxim Temnikov and Alexey Adikaev.

The company report stated for the first time the size of MIRAX GROUP’s credit portfolio, the volume of investments into projects, and the expected income from project implementation. The document is to be revised monthly and will become a distinctive alternative to the traditional annual report.

“In building our business system we refuse to follow templates”, Dmitry Lutsenko emphasized. “The new report is a declaration of openness and transparency. We’ve got nothing to hide. Our financial results are improving consistently, and we are prepared to state that openly”.

Additionally, the press conference included the presentation of a new large-scale project of the Corporation – MIRAX Technology, a subdivision with a priority on investments in high technologies.

“MIRAX Technology is not just a nice name. In the nearest future we plan to spend no less than USD 500 million in this direction. We’ve already got under development a number of projects that will blow the market, as they have no analogies in terms of security and cost”, said Sergey Polonsky.