ELLINIKI TECHNODOMIKI TEB (ELTEB) is the leader in the Construction and Concession sectors in Greece and also has a strong portfolio of activities in the Energy and Environmental sectors as well as in the Real Estate Development sector.
In the last few years the Group's Management has planned and executed a series of strategic moves aimed at creating a Group based on European standards, by utilizing their extensive experience and financial robustness. These moves include the development of new profitable activities and penetration into new markets, allowing the Group to venture beyond the limits of the construction cycle and the small size of the Greek market.
These, among other things, were stressed by the Group's Management during today's Ordinary General Shareholders Meeting.
The Group's backlog today amounts to EUR 4.5 billion and come from: Infrastructure works totalling EUR 1.3 billion, co-financed projects of EUR 1.2 billion, construction works of EUR 600 million, and overseas projects totalling EUR 1.4 billion. Significant investments were required to achieve this. However, a large backlog is the starting point for any given company's capabilities.
Significant developments took place in the Group during 2006, as well as the first few months of 2007. The following were some of the points mentioned:
Establishing the Group in the countries of the Persian Gulf (Oman, Qatar, Kuwait, U.A.E.), the Balkans (Bulgaria, Rumania) and Greece through the undertaking of major projects.
Reinforcing its already leading position in the Concession sector by signing concession agreements for the following projects:
- Thessalonica Submarine Road Artery, by THERMAIKI ODOS S.A., in which ELTEB participates with 50% and is the leader. The entire investment totals EUR 470 million.
- Underground car parks of the Athens Metropolitan complex, with a capacity of 1,165 parking spaces, undertaken by ELTEB's 100% owned subsidiary METROPOLITAN ATHENS PARK.
- Corinth-Tripolis-Kalamata Freeway, by MOREAS S.A., in which ELTEB participates with 73.34% and is the leader. The entire investment totals EUR 1 billion.
- Assignment of the AEGEAN MOTORWAY Group, in which ELTEB participates with 20%, as the temporary contractor for the concession project of the Maliakos-Kleidi motorway. The total investment is EUR 1 billion and the signing of the agreement is expected soon.
- Assignment of the APION KLEOS Group as the temporary concessionaire of the Elefsina-Corinth-Patras-Pyrgos-Tsakona motorway, a total investment of EUR 2.1 billion. The signing of this agreement is also expected soon.
- Assignment of the company called MARINA SIROU S.A., in which ELTEB participates with 60%, as the concessionaire of the project of the Syros marina. The entire investment totals EUR 3 million.
Invest in wind parks for energy production from renewable sources with a total output of 203 MW, which are currently producing 30MW, and will be fully operational by 2009. A strong presence in Greece and Cyprus, through its subsidiary ELECTOR, in waste management issues, and building and operating Sanitary Land Fills. With the take over of the HERHOF company in Germany, the Group gained access to significant technology concerning recycling mixed city waste (technology for the production of dry stabilat), which ensures entry into a sector with significant growth potential.
Reinforcing the Group's activities in the Real Estate sector: a) the purchase of land plots by REDS with i) a total surface area of 6,000 sq. m. in the Splaiul Unirii area in the centre of Bucharest, ii) a total surface area of 8,500 sq. m. by Lake Baneasa in Bucharest and iii) a total surface area of 8,000 sq. m. in the Athinon Avenue area (Academia Platonos) near the new building of the Athens Stock Exchange and b) the signing of agreements with companies managed by the HENDERSON investment firm; a sales agreement worth EUR 40.5 million for the VESO MARE and ESCAPE CENTER shopping centres, and a preliminary agreement for the sale of 100% of shares of YIALOU EMPORIKI & TOURISTIKI S.A. for an estimated price of EUR 70 million.
DIVIDEND
The dividend that will be paid by ELLINIKI TECHNODOMIKI TEB SA to shareholders for financial year 2006, as decided today by the general meeting, is EUR 0.18 per share. Shareholders who are listed on the shareholder registry at the end of the 26 June 2007 meeting are entitled to receive dividends. As of 27 June 2007, Company shares shall be traded without the right to receive dividends. The starting pay date for dividends is 5 July 2007, through the ALPHA BANK network.