ELLINIKI TECHNODOMIKI TEB - AKTOR Group of companies has released its financial results for H1 2007 based on International Financial Reporting Standards (I.F.R.S.).
Consolidated turnover for H1 2007 reached euro 415.4 million compared to euro 303.6 million in the respective period last year, posting an increase of 36.8%.
Consolidated EBITDA amounted to euro 58 mil. over euro 40.7 mil. in the first half of 2006, marking an increase of 42.28% and consolidated EBIT amounted to euro 47.3 mil. versus euro 29.6 mil. in the respective period last year, increased by 59.7%.
Consolidated EBT increased by 158% standing at euro 112.5 mil. Finally, consolidated profit after-tax and minority rights stood in the first half of 2007 at euro 90.9 mil. as opposed to euro 32 mil. in the respective period last year, raised by 184.2%. Consolidated per share after-tax profits were formed in H1of 2007 at euro 0.57 compared to euro 0.20 in the respective period of 2006. As far as the parent company concerns, turnover reached at euro 1.3 mil. in H1 2007 over euro 3.4 mil. in the respective period last year. EBITDA amounted to euro 12.9 mil., while EBT were formed at euro 42.6 mil. Net after-tax profits of the parent company amounted to euro 38.4 mil.
For H1 2007, Group's Construction Sector presented a turnover of euro 339 million, increased by 30.5% compared to the respective semester in 2006. Operating results stood at euro 12.6 million and net profit at euro 7.8 million. Please note that operating margin of the construction sector was formed in H1 2007 at 3.7%, (standing at 4.6% in Q2 of 2007 compared to 2.7% in Q1 of 2007), demonstrating continued growth attributed to a) the decrease in formation expenses for the penetration of the group's operations in the international market and b) the cost reduction of the bidding process in large co-financed projects.
The projects that the Group is awarded via concession agreements are already in progress amongst which, the Thessaloniki Submerged Tunnel, the Corinth - Tripoli - Kalamata motorway, the Maliakos - Kleidi motorway and the Elefsina - Corinth - Patras - Pyrgos - Tsakona motorway, while the Group will bid for new motorway construction projects in the Attica urban area. During H1 of 2007, the Group has completed its plan for the study and installation in significant projects abroad, which combined with the other large projects via concession agreements of the group, the backlog of AKTOR and its subsidiaries is closing to euro 5 billion.
Concessions participation in Group s net profit for H1 2007 was euro 13.8 million over euro 11.5 million in the respective period of 2006.
The Quarrying sector presented for H1 2007 turnover of euro 7.7 million, operating profit of euro 1.7 million and net profit of euro 1.3 million, significantly increased compared to the respective figures of H1 2006.
In H1 2007, the Energy and Environment sector presented significant increase compared to the respective figures of H1 2006 with consolidated turnover of euro 37.2 million, increased by 46.5%, operating profit of euro 13.5 million and net profit of euro 9.2 million, increased by 138% and 182% respectively. This sector's figures show substantial growth due to the increase in the existing power of of the biogas unit in Ano Liosia and the biogas unit in Thessalonica, which now operate at their maximum capacity, as well as due to the activity increase in the field of environmental management.
The Real Estate sector reported in H1 2007 consolidated sales of euro 30 million, increased by 216% in comparison to the first half of 2006, operating profit of euro 11 million and net profit of euro 7 million, marking an increase of 256% and 297% respectively. The impressive sales and profits increase is attributed to the sale of the two leisure and entertaining centers in Patras and Ilion.
Other activities reported net profits of euro 57.7 mil. over euro 2.4 mil. in the first half of 2006.