Full Year 2007 financial results under I.F.R.S.
Peania, March 31 2008 – INTRAKAT Group released its full year 2007 financial results in accordance with the International Financial Reporting Standards (I.F.R.S.).
Substantial increase of activity and results show the full year 2007 financial statements for INTRAKAT SA, with sales reporting significant increase while net results call for a significant turnaround as the group shifts to earnings in 2007.
In specific, the group’s consolidated turnover marked substantial increase by 47% in FY 2007 and formed at 152 mil. over 103.7 mil. in the previous FY 2006.
Accordingly, the group’s gross profit reported higher by 117% and amounted to 16.5 mil. over 7.6 mil. in 2006 while gross profit margin improved by 3.5 percentage points and amounted to 10.9% of the consolidated turnover versus 7.3% in FY 2006.
Total consolidated results before interest, tax and depreciation (EBITDA) stood at earnings of 7.3 mil. marking a substantial turnaround from losses of 1.1 mil. in FY 2006. Alongside total consolidated earnings before interest and tax (EBIT) reported earnings of 3.9 mil. versus losses of 4.2 mil the previous year 2006. Last, total net after taxes and minorities results (EATAM) formed at earnings of 676 thou. over losses of 2,432 thou. in 2006.
It is noteworthy that the group’s backlog of projects as of December 31, 2007 amounted to 374 mil. in value.
The group’s FY 2007 results clearly ensure the successful outcome of the managerial and organizational restructuring plan implemented over the past three years as well as the realization of the group’s strategic plan aiming at the achieving growth via the participation in complex technological projects in the field of broadband infrastructure where the group holds a leading position as well via the supply of new products in the complex steel construction sector. All these are the result of exploiting the group’s high specialization, substantial know how, the successful restructuring and the constant improvement of the group’s competitive edge.
The FY 2008 goals, are focusing on further enhancing the group’s activity in the fields of self-financed and co-financed construction projects through strategic collaborations, in the real estate sector through the development of real estate projects in Greece and abroad, and in the renewable energy sources sector (photovoltaic systems) as well in the waste to energy sector which offers significant business growth opportunities.
See all 2007 financial results
Intrakat was founded in 1987 and belongs to Intracom Holdings Group of companies. Since 1999, the company holds a 6th degree contractor’s license from the Register of Contractor Companies, and as of November 2001 the company listed on the Athens Stock Exchange. In 2005 Intrakat merged by absorption with Intramet (steel structure company). Intrakat has extensive experience and advanced know-how in the fields of constructions of technical projects, steel structure and telecommunication projects. Over the past 20 years, the company implements public and private technical projects regarding: building works, infrastructure projects, broadband infrastructure projects, advanced technology and telecommunications projects, industrial and energy projects, E/M installations, steel structures, natural gas distribution projects and environment projects in Greece and abroad. Intrakat group employs 586 people.
Information concerning Press Releases
Ioanna Papavassiliou, Intrakat Communications Dept.
T: 210-6674346, E: email@example.com, Web: www.intrakat.eu