Within the framework of the presentations program organized by the Institutional Investors' Union, the presentation of the Company WATER SUPPLY AND SEWERAGE COMPANY OF THESSALONIKI S.A. was held today. At the presentation, the Α' Vice President Prof. Dimitrios Papadopoulos and company members appeared on behalf of EYATH S.A. Analyzing the presentation, the Managing Director Mr. Georgios Skodras discussed the materialization of the strategic plan regarding the Company's introduction to peak fields, such as energy and telecommunications, the incorporation of high technology to the Company's facilities, as well as acquiring technical know-how through international co-operations which EYATH S.A is planning. In particular, the management of the northern-Greece/ introduced to the stock market Company, suggests in the regular general meeting of its stock holders on the 29/6/2007 the creation of a subsidiary company by the name EYATH Services S.A, which will invest in the production of electricity by renewable sources (photovoltaic, sewage) and in saving energy. Until 2011 about 15, 3 million euros are expected to be invested in the co-production, of 5 MW power, as well as in a photovoltaic unit of 2 MW power. At the same time, it is suggested that the new company's object should be the development of entrepreneurial initiative in the field of telecommunications (fiber optics, wireless networks, telephones, internet, video on demand), the water supply and sewerage services, as well as carrying out studies for the materialization of EYATH's projects. In fact, the management's goal is to have divided EYATH Services into three companies in 2008: EYATH Services S.A, EYATH Energy S.A and EYATH Telecommunications S.A and to create another subsidiary which would manage the Excellence Centre. In 2010 the goal is to found a new company by the name EYATH Constructions S.A, which will be the constructions branch of the Group of companies. The company's expansion to other fields as well as its modernization will be funded by the investment plan of the 2007-2011 period, of 102, 4 million euros, out of which 87 million euros come from the revenues of the 2007 - 2011 period, 5,2 million euros by the drawn capital during the company's introduction to the Stock Market and from other revenues, 6 million euros from grants and 4, 4 million euros from loans.
In particular, the investment plan foresees -among other issues- investments:
- of 12 million euros for the full automation of the company's facilities
- of 750.000 euros for staff training
- of 500.000 euros for the creation of an Excellence Centre for the promotion of research and the acquirement of technical know-how.
- of 23,7 million euros in existing water supply and sewerage networks
- of 33 million euros in extension of the existing networks
- of 4,55 million euros for the modernization of the facilities of sewage processing and 950.000 euros for the upgrading of the water supply distillery (to which approximately 2,2 million euros should be added which will be invested by the service suppliers through international contests)
- 11 million euros for the processing of sewage.
Through its investment plan, the EYATH management aims to:
- Improve the supplied services
- Ensure feeding drinkable water of superb quality
- Effective environmental protection and
- Improvement of its financial sizes.
Completing the presentation to the Institutional Investors Mr. Skodras stressed that the Company wishes, through a new invoicing policy and its investment plan, to achieve its development and evolution into a powerful pole of technical knowledge and entrepreneurialship in the wider region.