Kifissia, August 30^th 2013

PRESS RELEASE

 First Half 2013 Group Financial Figures

The ELLAKTOR Group of companies announces its financial results for the period from 01.01.2013 to 30.06.2013, in accordance with the International Financial Reporting Standards (I.F.R.S.).

Consolidated turnover for the period from 01.01.2013 to 30.06.2013, is €572.4 million compared to €596.5 million in the corresponding period of 2012, decreased by 4.0%.

Consolidated earnings before interest and tax (EBIT) for the period from 01.01.2013 to 30.06.2013 are €49.7 million, compared to €65.8 million for the corresponding period of 2012, decreased by 24.5%. Consolidated earnings before interest, tax, depreciation and amortization (EBITDA) amount to €99.9 million compared to €116.3 million for the corresponding period of 2012, decreased by 14.1%.

The consolidated results after taxes stood at €16.2 million losses, against to €20.2 million  profits for the respective period of 2012. This important difference is due to the increase of the obligatory and subsequent to an increase of the tax rate of 20% to 26% readjustment of the deferred taxation that had been calculated until December 31st, 2012, which has encumbered (once and for all) the profits after tax with the amount of €24.9 million.

Finally, the results after taxes and minority interests stood at losses €18.6 million, compared to profits €9.7 million for the respective period last year. 

Consolidated results after taxes per share stood at losses €0.108 compared to profits €0.056  for the corresponding period of 2012.

Specifically:

• For   the first half of 2013, the Group's Construction sector  (construction and quarries), presented a turnover of €407.5 million compared  to €423.3 million for the corresponding period in 2012, a decrease of 3.7%.  Construction operating results recorded to profits €9.8 million compared to  €13.1 million for the corresponding period of 2012. Profit after tax presented €0.5 million compared to €1.9 million, decreased by 73.8%.  The group's backlog of signed contracts remains high, currently standing at €3.1 billion, while there is another €150 million of projects that remain to be signed.
• The  Concession sector's consolidated revenue for the first half of 2013 was €105.4 million compared to €119.9 million for the corresponding period  in 2012, decreased by 12.0%, operating profit was €27.5 million compared  to €36.8 million, decreased by 25.2%, and net results after tax stood at losses €12.8 million  compared to profits €19.2 million.
• In the Environment sector, turnover for the first half of 2013 was €37.3 million compared to €35.0 million for the corresponding period in 2012, increased  by 6.4%, operating profit was €6.5 million compared to €9.4 million, decreased by 30.8% and earnings after tax €3.9 million compared to €6.9 million, decreased by 43.4%.
• The  Wind energy sector consolidated revenue for the first half of 2013 was €19.0 million compared to €15,0 million for the corresponding period in 2012, increased by 26.4%, operating profit was €8.6 million compared to €8.5 million, increased by 2.0%, and net profit after tax €3.3 million compared to €2.7 million euro, increased by 24.0%.
• The  Real estate sector recorded consolidated revenue of €2.7 million for the first half of 2013 compared to €2.9 million in the corresponding  period of last year, decreased by 6.7%, operating result loss was €0.2 million compared to a loss of €0.5 million and loss after tax €2.0 million      compared to a loss of €1.8 million.

There weren't any sales at parent company level for the first half of 2013 similarly to the respective period of 2012. Earnings before tax, interest, depreciation and amortization stood at loss €2.1 million, compared to loss €0.2 million, loss before tax €8.2 million, compared to €7.8 million and net loss after tax was €8.4 million compare to loss €7.8 for the first half of 2012.