According to the interim financial statements of 30/09/2007, compiled in accordance with International Financial Reporting Standards, the third quarter 2007 financial results of the GEK Group are as follows:
Net earnings after minority interest amounted to 22.2 mil. euro compared to 12.4 mil. euro in the same period of last year, increased by 77.8%.
Consolidated turnover of GEK amounted to 301.6 mil. euro, compared to 220.2 mil. euro in the 9-month period of 2006, increased by 36.9%.
Operating earnings (EBITDA) of GEK Group amounted to 55.2 mil. euro, increased by 13.1% compared to the same period last year. Earnings before Taxes of GEK Group accounted for 43 mil. euro in the 9-month period of 2007 against 30.2 mil. euro in the same period of 2006, increased by 42.4%.
In Real Estate sector, the profitability of GEK Group was particularly strong as earnings before tax and interest from the specific activity amounted to 21.6 mil. euro for the 9-month period of 2007 compared to 7.7 mil. euro in the same period of 2006.The group manages its land portfolio in Greece and abroad by developing real estate projects of high prestige.
In the concessions sector, it is planned in the near future the initiation of construction and operation of the two concessions for road works (Ionia Road and Central Greece Motorway).