AKTOR SOCIETE ANONYME HOLDING COMPANY TECHNICAL AND ENERGY PROJECTS
Press Release-Full year financial results
INTRAKAT Group released its full year 2007 financial results in accordance with the International Financial Reporting Standards (I.F.R.S.).
Substantial increase of activity and results show the full year 2007 financial statements for INTRAKAT SA, with sales reporting significant increase while net results call for a significant turnaround as the group shifts to earnings in 2007.
In specific, the group's consolidated turnover marked substantial increase by 47% in FY 2007 and formed at euros 152 mil. over 103.7 mil. in the previous FY 2006.
Accordingly, the group's gross profit reported higher by 117% and amounted to euros 16.5 mil. over euros 7.6 mil. in 2006 while gross profit margin improved by 3.5 percentage points and amounted to 10.9% of the consolidated turnover versus 7.3% in FY 2006.
Total consolidated results before interest, tax and depreciation (EBITDA) stood at earnings of euros 7.3 mil. marking a substantial turnaround from losses of euros 1.1 mil. in FY 2006. Alongside total consolidated earnings before interest and tax (EBIT) reported earnings of euros 3.9 mil. versus losses of euros 4.2 mil the previous year 2006. Last, total net after taxes and minorities results (EATAM) formed at earnings of euros 676 thou. over losses of euros 2,432 thou. in 2006. It is noteworthy that the group's backlog of projects as of December 31, 2007 amounted to euros 374 mil. in value.
The group's FY 2007 results clearly ensure the successful outcome of the managerial and organizational restructuring plan implemented over the past three years as well as the realization of the group's strategic plan aiming at the achieving growth via the participation in complex technological projects in the field of broadband infrastructure where the group holds a leading position as well via the supply of new products in the complex steel construction sector. All these are the result of exploiting the group's high specialization, substantial know how, the successful restructuring and the constant improvement of the group's competitive edge.
The FY 2008 goals, are focusing on further enhancing the group's activity in the fields of self-financed and co-financed construction projects through strategic collaborations, in the real estate sector through the development of real estate projects in Greece and abroad, and in the renewable energy sources sector (photovoltaic systems) as well in the waste to energy sector which offers significant business growth opportunities.
Substantial increase of activity and results show the full year 2007 financial statements for INTRAKAT SA, with sales reporting significant increase while net results call for a significant turnaround as the group shifts to earnings in 2007.
In specific, the group's consolidated turnover marked substantial increase by 47% in FY 2007 and formed at euros 152 mil. over 103.7 mil. in the previous FY 2006.
Accordingly, the group's gross profit reported higher by 117% and amounted to euros 16.5 mil. over euros 7.6 mil. in 2006 while gross profit margin improved by 3.5 percentage points and amounted to 10.9% of the consolidated turnover versus 7.3% in FY 2006.
Total consolidated results before interest, tax and depreciation (EBITDA) stood at earnings of euros 7.3 mil. marking a substantial turnaround from losses of euros 1.1 mil. in FY 2006. Alongside total consolidated earnings before interest and tax (EBIT) reported earnings of euros 3.9 mil. versus losses of euros 4.2 mil the previous year 2006. Last, total net after taxes and minorities results (EATAM) formed at earnings of euros 676 thou. over losses of euros 2,432 thou. in 2006. It is noteworthy that the group's backlog of projects as of December 31, 2007 amounted to euros 374 mil. in value.
The group's FY 2007 results clearly ensure the successful outcome of the managerial and organizational restructuring plan implemented over the past three years as well as the realization of the group's strategic plan aiming at the achieving growth via the participation in complex technological projects in the field of broadband infrastructure where the group holds a leading position as well via the supply of new products in the complex steel construction sector. All these are the result of exploiting the group's high specialization, substantial know how, the successful restructuring and the constant improvement of the group's competitive edge.
The FY 2008 goals, are focusing on further enhancing the group's activity in the fields of self-financed and co-financed construction projects through strategic collaborations, in the real estate sector through the development of real estate projects in Greece and abroad, and in the renewable energy sources sector (photovoltaic systems) as well in the waste to energy sector which offers significant business growth opportunities.