Athens, March 30^th 2018

 

 

FISCAL YEAR 2017 FINANCIAL RESULTS

 

 

• Increased EBT by 60.9%, to 66.5 million euro from 41.3 million euro in 2016

• Increased Net Profit by 80.7%, to 43.5 million euro from 24.1 million euro in 2016

• Increased proposed dividend by 81.8%, to 0.20 euro per share from 0.11 euro per share

 

Fiscal year of 2017 confirmed yet another year the steady and profitable growth of the Company, as the largest Water supply and Sewerage Company in Greece.

In particular, the Company's turnover, which remained substantially steady, amounted to 327.3 million euro compared to 328.8 million euro in 2016, decreased marginally by 1.5 million euro (-0.5%).

The Company's performance measurement indicators for the year 2017 were negatively affected by the fact that operating expenses before depreciation increased by 3.7 million euro (1.6%), due to the recognition in this year's financial statements, of an expense of 11.8 million euro as additional service cost for the future one-off compensation of employees in accordance with IAS 19. Without this one-off recognition, operating expenses before depreciation would have been decreased by 8 million euro (-3.3%). Therefore, EBITDA* of the Company decreased by 2.6 million euro (-3%) to 84.7 million euro compared to 87.3 million euro in 2016 while, based on the Company's operation, EBITDA would have been increased by 9.2 million euro (+10.5%). Similarly, the EBIT* of the Company, which decreased by 2 million euro (-4.1%) to 47.9 million euro compared to 49.9 million euro in 2016, would have been increased by 9.8 million euro (19.5%).

Earnings before tax for the Company increased by 25.2 million euro (+60.9%) to 66.5 million euro from 41.3 million euro in 2016 and earnings after taxes also posted a significant increase of 19.4 million euro (+80.7%) from 24.1 million euro to 43.5 million euro.

Net Operating Cash inflows for the Group increased from 52.4 million euro in 2016 to 68.3 million euro in 2017. Finally, Free Cash Flows to the Firm settled for the Group at 64.5 million euro from 52 million euro in 2016.

EYDAP is always consistent with its shareholders with the uninterrupted dividend distribution from the day of its listing on the Athens Exchange, will propose to the Ordinary General Meeting of Shareholders, by decision of its Board of Directors, the distribution of a dividend amounting to a total of 21.3 million euro (0.20 per share gross) increased by 81.8%.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

* Alternative Performance Measure

See section Alternative Performance Measurement Indicators in the Annual Financial Report 2017    that is posted on the corporate website www.eydap.gr.