9M 2008 financial results according to IFRS
Paiania, November 28, 2008 – INTRAKAT Group announces the 9M 2008 Financial Results according to International Financial Reporting Standards, which reflect a stable and growing course for the Group
More specifically, the Consolidated Turnover for the 9M 2008 amounted to 129 mil. euro over 103 mil. euro in 9M 2007 increased by 25.4%, while the Gross Profit of the Group amounted to 17 mil. euro over 11 mil. euro in the respective period last year. Accordingly, the Gross Profit margin improved by 2.3 percentage units and amounted to 12.8% of the consolidated turnover over 10.5% in 9M 2007.
Accordingly, Consolidated EBITDA amounted to 9 mil. euro for the 9M 2008 over 5 mil. euro in the respective period last year. EBITDA margin increased by 2.1 percentage points and amounted to 7.2% over 5.1% in the respective period of 2007. Moreover, EBT amounted to profits of 2 mil. euro over losses of 285 thou. euro in 2007 while EATAM amounted to profits of 727 thou. euro over losses of 690 thou. euro.
It is noted that INTRAKAT Group’s backlog of projects on 30/09/2008 amounted to 285 mil. euro approximately.
At the parent company level, turnover marked an increase of 27.61% in 9M 2008 and amounted to 102.9 mil. euro over 80.7 mil euro in the previous year while gross profit amounted to 13.5 mil. euro over 9.3 mil. euro in 9M 2007. The Company EBITDA amounted to 7.9 mil. euro over 4.9 mil. euro in the respective period last year, while Company EBITDA margin increased by 0.7 percentage points and amounted to 7.7% over 7.0% in the respective 9M period of 2007. Significant increase marked EBT that amounted to 2.0 mil. euro over 752.3 thou. euro in 9M 2007. Finally, EAT of the Company amounted to 1.4 mil. euro over 736 thou. euro in the respective 9M of 2007.
INTRAKAT’s especially positive course is due to the undertaking and execution of complex rigid and high specifications projects, where the Company has obtained substantial experience and knowhow, exploiting the economies of scale generated while achieving higher profit margins. It is noted that on 30/09/2008 the company’s share capital increase was completed and the total proceeds amounted to 16.04 million euro. Furthermore, pursuant to the Extraordinary General shareholders’ Meeting dated 17/11/2008, the procedure for the concession via absorption of the spun off construction divisions of “CYBARCO SA”, “T. KARAGIANNIS SA”, and “EUROKAT SA” is in progress, and upon completion of the aforementioned actions INTRKAT Group expects to enhance its activities.
See all 2008 financial results
INTRAKAT was established in 1987 and is a member of INTRACOM HOLDINGS group of companies. Since November 1999, the company holds a 6th class contractor certificate of the Register of Contractor Companies, in November 2001 it was listed in the Athens Stock Exchange, while in 2005 it proceeded with the merger with absorption of INTRAMET (steel structures company). INTRAKAT has extensive experience and advanced know-how in the fields of constructions of technical projects, steel structure and telecommunication infrastructure projects. Over the past 20 years, the company implements public and private technical projects regarding: building works, infrastructure projects, advanced technology projects and telecommunications infrastructures, industrial and energy projects, E/M installations, steel structures, natural gas distribution projects and environment projects in Greece and abroad. INTRAKAT group employs 634 people.
Information on press issues:
Ioanna Papavassiliou, Communication Department INTRAKAT
Tel.: +30 210-6674346, e-mail: email@example.com, Web: www.intrakat.gr