ROKAS Group of companies will release on Tuesday, August 28, 2007 its HALF YEAR 2007 consolidated financial results according to the International Financial Reporting Standards.
Consolidated turnover for the first half of 2007 stood at euro 20.8 mil. reduced by 17.8% against the respective period last year, a fact mainly attributed to the particularly increased sales of Electromechanical Projects by euro 4.0 mil., during the first half of 2006, which were not repeated the current period.
Group EBITDA amounted to euro 10.1 mil. over euro 15.8 mil. in the respective period of 2006, while EBITDA profit margin remained high at 48.6%.
Extraordinary income from deferred taxation amounting at euro 2.2 mil., that occurred during the respective period last year, in combination with the increased administrative expenses due to extraordinary costs incurred through the first half of 2007, were the main reasons that the Group's EATAM were restrained to euro 3.8 mil. in the first half of 2007 over euro 8.9 mil. in the respective period of 2006.
Turnover of the Energy activity field fell marginally, formed at euro 17.5 mil. against euro 18.3 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 first half of 2007 at euro 5 mil. against euro 11.7 mil. in the respective period of 2006. Earnings before Tax amounted to euro 7.7 mil. over euro 9.5 mil. in 2006 respectively, mainly due to the increased administrative expenses as a result of the extraordinary costs incurred through the first half of 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: Mrs. Liana Chatzicharalampous, Investor Relations Officer, tel. +30 210-8774149, e-mail: lchatzi@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 website at www.rokasgroup.gr
See the IR RELEASE