INTRAKAT 2001 Financial Results

INTRAKAT achieved remarkable financial results. According to the consolidated financial statements, the company’s 2001 sales rose by 42.5% to 86.5 million EUR. At the same time, consolidated earnings before interest and after minority rights reached 17.5 million EUR, posting a 59% increase.

INTRAKAT is active in Eastern Europe, implementing infrastructure projects through its INTRACOM CONSTRUCT and INTRALBAN subsidiaries in Romania and Albania respectively. INTRACOM CONSTRUCT’s 2001 turnover reached 34.2 million EUR, posting a 142% increase, while profit before tax increased by 137% to 11.8 million EUR. Likewise, INTRALBAN, in its first three months of operations, reached a turnover of 4.3 million EUR, while profit before tax amounted to 1.8 million EUR.

The company’s main business activities involve complex telecommunication projects, IT systems and networks, industrial and energy projects, natural gas projects and civil works. The company implements large-scale projects for telecoms and major telecommunication companies, including OTE, COSMOTE, PANAFON, TELESTET, INTRACOM, MOLDTELECOM and COSMOROM, as well as other public-sector organizations and institutions, including DEPA, the University of Athens and the Ministry of Merchant Marine.

The company intends to broaden its involvement with telecommunication projects, secure a Class F certificate in order to undertake major infrastructure projects, and strengthen its presence in Eastern Europe.

The company’s future prospects appear to be remarkably positive, since INTRAKAT is strategically positioned to take full advantage of significant opportunities arising from the industry’s rapid evolution and accelerated growth (liberalization of the telecommunications and energy sectors, introduction of new technologies and energy sources, Olympic Games, 3rd EU CSF, buy-operate-transfer construction projects), and undertake projects that demand long experience and extensive know how in implementing and managing complex turn-key projects.

INTRAKAT recently acquired M-P TECHNIKI that holds a Class E certificate in order to secure a Class F certificate according to L. 2940/2001. Following this acquisition, the company’s board of directors decided to merge M-P TECHNIKI with INTRAKAT, as stipulated by CL. 2190/20 and L. 2166/1993.

See all 2001 financial results