The ROKAS Group of companies will release its consolidated financial results for FY 2006 that were prepared under International Financial Reporting Standards, tomorrow Wednesday 14/3/2007.
Consolidated turnover for FY 2006 stood at Euro 50.2 mil. compared to Euro 53.5 mil. in the respective period last year, slightly decreased by 6.2%, due to the lower participation of the business unit of electromechanical equipment. Respectively, the participation of the energy business unit in the consolidated turnover stood at 79% compared to 68% in 2005.
However, consolidated profits improved significantly due to the increase of the sales of the energy sector, a business unit which operates with higher profit margins. More specifically, consolidated gross profit stood at Euro 22.1 mil. compared to Euro 16.8 mil in 2005 increased by 31.9%. Respectively, EBITDA stood at Euro 31.8 mil. compared tor Euro 28.5 mil. in 2005 increased by 11.5%, whereas EBIT stood at Euro 23.3 mil. compared to Euro 15.6 mil. in 2005, significantly increased by 49.9%, due to the lower depreciation charges for the financial year 2006.
Earnings before taxes stood at Euro 21 mil. increased by 60.8%, while earnings after taxes and minority interests marked a significant increase of 77.9%, which is due to extraordinary profits by deferred taxes as well as to the decrease of net financial expenses.
On a business level, it is worth noting that the Group currently operates 13 wind farms of 193.3 MW total installed capacity, while 2 more wind farms of 7 MW total capacity are currently under construction and are expected to start operating within the next months. At the same time, the Group has obtained construction licenses for wind farms of 488 MW capacity in Greece and 179 MW in Cyprus. To conclude, the Group is expanding into other forms of Renewable Energy Sources, having already submitted a series of applications for Small Hydroelectric Stations and Photovoltaic Parks.
It is noted that on Monday, April 2, 2007, the company will present its annual results at the Association of Greek Institutional Investors'' premises, while on Thursday, May 17, 2007 the Annual Ordinary General Shareholders'' Meeting will take place.