Financial Results for 9M 2007: Increase by 131.2% in net profits after tax and minorities
ELLINIKI TECHNODOMIKI TEB AKTOR Group of companies posted a remarkable increase in the financial results for the nine month period of 2007, according to International Financial Reporting Standards (I.F.R.S.).
Consolidated turnover for 9M 2007 period increased by 34.6% reaching euros 636.1 million in comparison with euros 472.6 million in the respective period last year.
Consolidated profits before tax, interest depreciation and amortization (EBITDA) reached euros 77 million as opposed to euros 51.7 million in the 9M 2006 period marking an increase of 49.1% while consolidated profits before interest and tax (ΕΒΙΤ) amounted to euros 60.6 million versus euros 35.2 million in the respective period last year, increased by 72.2%. Consolidated profits before tax, increased by 133% at euros 134 million. Finally consolidated net profits after tax and minorities for the 9M period of 2007 reached euros 105.8 million as opposed to euros 45.7 million in the respective period last year, increased by 131.2%. Consolidated per share after tax profits for the 9M period of 2007 stood at euros 0.67 versus euros 0.29 in the respective 9M period of 2006.
As far as the parent company results concerns, turnover in 9M period of 2007 reached euros 1.8 million over euros 4.8 million in the respective period last year. Profits before tax, interest depreciation and amortization amounted to euros 11.5 million, while profits before tax reached euros 41.5 million. Net after-tax profits of the parent company amounted to euros 37.1 million.
During the 9M period of 2007 Group?s Construction Sector presented a turnover of euros 533 million, showing an increase of 34.46% in comparison with the respective 9M period of 2006. Operating results reached euros 21.8 million with net profits standing at euros 12.32 million. Operating profit margin of the construction sector stood at 4.1% for the nine month period, demonstrating an increasing trend mainly 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 big 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. Within the 9M period of 2007, Group has completed and materialized its plan for the study and installation in significant projects abroad, which combined with the other large projects via concession agreements of the group, is setting the backlog of AKTOR and its subsidiaries to euros 4.55 bn. Concessions participation in Group?s net profit for 9M 2007 was euros 20.5 million over euros 17.9 million in the respective period of 2006.
The Quarrying sector presented for the nine months period turnover of euros 15.2 million, showing an increase of 30% in comparison with the nine months period of 2006. Operating profits reached euros 3.7 million with net profits standing at euros 2.5 million, marking an increase of 144% and 133% respectively, in comparison with the results of 9M 2006. Energy and Environment sector posting for the nine months period of 2007 an increase as opposed to the respective figures of 9M 2006 period with consolidated turnover of euros 55.2 million, increased by 18.58%, operating profits of euros 17 million and net profits of euros 12 million, increased by 96% and 135% respectively. This sector s figures show substantial growth due to the increase in the existing power of the biogas unit in Ano Liossia 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 for the nine months 2007 period consolidated turnover of euros 31 million, increased by 122% in comparison with the respective period of 2006, operating profits of 10.67 million and net profits of euros 6.2 million marking an increase of 176% and 139% respectively. The sales and profits increase is attributed to the sale of the two malls and entertaining centers in Patras and Helion.
Other activities reported net profits of euros 59.6 million versus euros 4.8 million in the nine months period of 2006.