Intrakat: FY 2016 Financial results – Sales growth & new prospects

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Intrakat: FY 2016 Financial results – Sales growth & new  prospects

  • Consolidated sales growth of 23.6%, € 182.4 million sales in 2016 compared to € 147.6 million in 2015
  • The adjusted EBITDA of the Group in 2016 amounted to €16.7 mil. compared to € 12.7 mil. Euro in 2015 (without the extraordinary results of € 4.3 mil. of the fiscal year)

Paiania, April 25th,2017 –Intrakat Group announces the annual financial results for 2016, in accordance with the International Financial Reporting Standards (IFRS).

Commenting on the FY 2016 financial results of 2016 and recent developments, Mr. Petros Souretis, CEO, Intrakat Group, said: “The improved results of 2016 reflect the consistent course of Intrakat and set the foundation for the coming years. The recent € 357 million agreement with Fraport Greece for the construction studies and works at the 14 regional airports, demonstrates the trust of Greek and foreign companies and banks in Intrakat’s ability to implement complex projects of high quality that contribute to the upgrading of infrastructure in our country.”

Group

Intrakat Group sales in FY 2016 reached € 182.4 million versus € 147.6 million in FY 2015, an increase of 23.6%.

Group’s EBT in FY 2016 is improved, reporting -€ 2.7 million versus -€ 4.4 million in FY 2015, while NIAT reached -€ 5.3 million versus -5.9 EUR million in FY 2015.

Group’s EBITDA in 2016 amounted to € 12.4 million versus € 12.7 million in FY 2015.

Group’s adjusted EBITDA, adjusted for the fine provision (€ 4.3 mn), rises to € 16.7 million versus € 12.7 million in FY 2015.

Company

The Company’s sales amounted to € 160.6 million compared to € 128.7 million, an increase of 24.8% compared to FY 2015.

The Company’s EBT showed an improvement, -€ 3.6 million versus -€ 6.1 million in FY 2015, while NIAT amounted to -€ 5.3 million versus -€ 6.6 million.

The Company’s EBITDA amounted to € 8.2 million versus € 8.4 million in FY 2015.

The Company’s adjusted EBITDA, adjusted for the fine provision (€ 4.3 million), amounted to € 12.5 million versus € 8.4 million in FY 2015.

The adjusted EBT for non-recurring events and impairment losses amounted to € 3.8 million for the Group and profits of € 2.9 million for the Company.

It is worth mentioning that both the Group and the Company have included an amount of € 2.25 million, which relates to the impairment of financial assets available for sale and an amount of € 4.3 million, which relates to the provision of a fine related to an own-initiative inquiry in public tenders for the possible violation of the provisions of article 1 of Law 3959/2011 (and / or article 1 of Law 703/1977), regarding “Protection of free competition”, as in force, and of Article 101 of European Union’s treaty” by the Hellenic Competition Commission.

Intrakat Group signed € 100 million new contracts in 2016, while the total backlog at 31.12.2016 was € 173 million, plus € 404 million worth new projects, of which € 357 million refer to the two contracts with Fraport Greece for the regional airports, signed in March 2017.

About Intrakat

Intrakat, founded in 1987, is a member of the Intracom Holdings Group. It has been listed on the Athens Stock Exchange since 2001 and is classified in the Register of Contractor Companies as a holder of a seventh class contractor’s certificate.  In 2005 it merged with the steel construction company Intramet.  Backed by its lengthy experience, Intrakat executes high technology, specialized projects in the technical area (construction – infrastructure) and in the areas of the environment, renewable energy sources, technology and telecommunications infrastructures, energy, industrial plants, metal constructions, real estate development and natural gas in Greece and abroad.

For press info:

Ioanna Papavassiliou, Intrakat Communications Department

T: 210 – 6674646 E: ipapav@intrakat.gr

Web: www.intrakat.com

Christina Geronicola, Intrakat Communications Department

T: 210 – 6674618 E: cgeronic@intrakat.gr

Web: www.intrakat.com