Leading plastic pipe systems producer Wavin (Zwolle / The Netherlands; www.wavin.com), has reported EBITDA up by 32.2%, to EUR 89.6m, in the first half of 2006, thanks to solid organic growth across all regions where the company operates and the integration of Hepworth Building Products in the UK, which was described as "well on track". Acquisitions boosted the earnings increase and the underlying organic growth in the period was 23.2%.

Sales in the first six months increased 17.3% to EUR 734.3m, 9.9% organically. Geographically, the UK and Ireland and central and eastern Europe saw the greatest gains in sales, at 28% and 29% respectively. The UK and Ireland remained Wavin´s largest market with sales of EUR 226m and EBITDA of EUR 29m in the first half of the year.

Philip Houben, Wavin president and chief executive, said revenues in both the civils & infrastructure and building & installation business units had shown "significant" improvement. Wavin´s strategy to achieve a more balanced revenue mix had been successful "in view of the very strong performance in the building & installation segment, which was further supported by recent acquisitions".

Wavin is also expanding its operations into Greece. It has signed a memorandum of understanding to acquire the plastic pipes and fittings business of Aristovoulos G Petzetakis (Athen; www.petzetakis.gr) for a sum of EUR 60m, of which EUR 5m is subject to certain financial targets being met in 2006 and 2007. The transaction is expected to be completed in the first quarter of 2007. Petzetakis is market leader in pipes and fittings in Greece and had a 2005 turnover in excess of EUR 60m.