ROKAS Group of companies will release on Thursday, November 15, 2007 its 9M 2007 consolidated financial results according to the International Financial Reporting Standards.
Consolidated Turnover for the 9M 2007 amounted to euro 32.5 mil. over euro 38.9 mil. in the respective period last year noted a decrease of 16.6%. This fact is mainly attributed to the particularly increased sales of Electromechanical Projects by euro 8.0 mil., during the 9M of 2006, which were not repeated the current period.
Moreover, Group's gross profit decreased by 16.0% and amounted to euro 13.8 mil. in 9M 2007 over euro 16.4 mil., whereas gross profit margin stood at 42.4% of total sales over 42.1% in 9M 2006, increased by 0.3 units.
Earnings before interest, taxes, depreciation and amortization (EBITDA) stood in 9M 2007 at euro 18.5 mil. over euro 24.8 mil., whereas earnings before interest and taxes (ΕΒΙΤ) stood at euro 12.0 mil. over euro 17.0 mil. in 9M 2006.
Group's Earnings after taxes and minority rights (ΕΑΤΑΜ) stood at euro 8.3 mil. in 9M 2007 over euro 12.3 mil. in the respective period last year. The main reason for this change is the extraordinary income from deferred taxation amounting at euro 2.4 mil., that occurred during the respective period last year.
Turnover of the Energy activity field fell marginally, formed at euro 28.3 mil. over euro 29.8 mil. in the respective period of 2006, due to the particularly favorable wind capacity of the same period last year, a fact which strengthened production's seasonality effect.
Regarding the parent company, the completion within 2006 of large projects that the Company had undertaken, such as the ports of Astakos, Malta and those of Virginia, Savannah and Charleston in the U.S.A., reduced Turnover in the 9M 2007 at euro 10.2 mil. over euro 14.1 mil. in the respective period of 2006. Earnings before Tax amounted to euro 7.6 mil. over euro 8.5 mil. in the respective period last year, mainly due to the increased administrative expenses as a result of the extraordinary costs incurred through the 9M 2007.
For the total of 2007 and in close co-operation with the Spanish Group Iberdrola, which is a major Shareholder of C. ROKAS S.A. and constitutes one of the largest Energy Groups in Europe, the management of the company is steadily focused on maintaining the conditions for sustainable growth of the Group both at the financial result and as well as the business activity level.
For any further information please contact: Mr. Cristian Tomas, Chief Financial Officer and Investor Relations Officer, tel. +30 210-8774100, e-mail: cthomas@rokasgroup.gr
Rokas Group is mainly engaged in the energy sector and specifically in Renewable Energy Sources holding the leader's position in the market of wind power in Greece, as it operates 13 wind farms total power capacity of 193.3 MW. In addition, it continues its activity in the sector of electromechanical projects achieving significant know-how and specializing in the study, construction and implementation of lifting equipment and other electromechanical equipment. For any further information, visit Group's web site at www.rokasgroup.gr