ATHENS WATER SUPPLY & SEWAGE Co.
Q1 2010 Key Figures & Results
In Q1 2010, EYDAP's turnover reached € 83.957 mil., compared with € 85.409 mil. last year.
Earnings before taxes reached € 1.311 mil. compared with € 1.630 mil. last year, while after-tax earnings summed up to € 143 mil. compared with € 1.152 mil. in Q1 2009.
This decline in EYDAP?s Q1 2010 earnings is mainly due to:
1. The decrease of revenues by € 1.45 mn, as a result of water supply services demand fall, including the respective reduction in water provided to Cyprus compared to 2009.
2. The increase of income tax due to taxation of unused provisions for bad debts during the five-year period 2005-2009, in accordance with article 31 par. 1Θ of the Law 2238/94.
Earnings before taxes reached € 1.311 mil. compared with € 1.630 mil. last year, while after-tax earnings summed up to € 143 mil. compared with € 1.152 mil. in Q1 2009.
This decline in EYDAP?s Q1 2010 earnings is mainly due to:
1. The decrease of revenues by € 1.45 mn, as a result of water supply services demand fall, including the respective reduction in water provided to Cyprus compared to 2009.
2. The increase of income tax due to taxation of unused provisions for bad debts during the five-year period 2005-2009, in accordance with article 31 par. 1Θ of the Law 2238/94.