profit warning

In March, Globe International Limited (ASX: GLB) advised that it expected that the FY2006 full
year result would approximate that of FY2005.
For the year ended 30 June 2006, preliminary unaudited total revenues were approximately $200
million compared to $206 million for FY2005. Total revenues for Australia and New Zealand
were consistent with last year’s result whilst European revenues were ahead. In North America,
earnings and revenue for the year were below those in the previous year due to a disappointing
first quarter.
As a result, preliminary unaudited management accounts indicate that Group EBITDA for the
year ended 30 June 2006 will be in the order of $6 million, compared to approximately $10
million for FY2005.
The chief executive officer of Globe, Matt Hill, said “Given that our EBITDA for the first half
was $1.2 million, the significant turnaround in the second half of the year of approximately $5
million EBITDA has been positive although not sufficient to compensate for the poor first half in
North America.”
“In the second half of the year, the Australasian division continued its strong profitability and we
saw a significant uplift in the North American and European regions,” Mr. Hill said.
Globe will release its full year audited results on 13 September 2006.