Χ. ΡΟΚΑΣ ΑΒΕΕ
Announcement
On Wednesday, 22 March 2006, a briefing for analysts was organised at the offices of C. ROKAS S.A., to present the most significant developments during the year, and the Group's financial results. The Company was represented by Mr M. Troulis, Chief Executive Officer, Mr G. Rokas, Vice-Chairman of the B.o.D., Mr. C. Thomas, Financial Director, and Messrs S. Camhis and L. Chadjicharalambous, Investor Relations Managers. During the briefing, it was mentioned that 2005 was another successful year for Rokas Group, as the results at year-end were very satisfactory, with respect to both profitability and investment activity, especially in the field of electricity production. The most important event for the Rokas Group during year 2005 was the completion of the acquisition of 49.9% of the share capital of Rokas SA from Spanish company IBERDROLA; the acquisition was completed three years sooner than foreseen by the initial agreement signed in December 2004. In the sector of Electromechanical Works, in 2005 the Company completed the construction of a large section of three bridge cranes for Astakos harbour. It also undertook two new projects for Chalyvourgiki, and the construction of 10 RTGs for the port of Malta, as a subcontractor for Finnish company KONECRANES. In the Energy sector, the Rokas Group was reinforced in 2005, with the establishment of a subsidiary company in Cyprus, and began the construction of new wind parks producing 48.5 MW, of which 3.6 MW are operating on a trial basis in Crete. At the same time, the company continued the development of new wind parks and small hydroelectric plants in Greece, with the aim of achieving the objectives set out in its Business Plan (600MW by 2009). As for the Group's financial results on the basis of International Accounting Standards, 2005 was a year of dynamic development. Turnover amounted to 53.5 million, compared to 30.4 million in 2004, presenting an increase of 76%. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to 28.5 million compared to 21.4 million in 2004, presenting an increase of 33%. Earnings before tax (EBT) amounted to 13 million compared to 7.2 million in 2004, showing an increase of 80%, while earnings after tax (EAT) showed an increase of 219%, amounting to 9.4 million at the end of 2005 compared to 2.9 million during year 2004. Finally, reference was made to the fact that, pursuant to the FTSE Dow Jones Industry Classification Benchmark, the Company will fall under the "Utilities" financial activity sector of the Athens Stock Exchange, under the category "Electricity", as of 20 March 2006. Please note that the presentation is available to investors on the Company's website, at
www.rokasgroup.gr/ir_roadshow.htm
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