INTRACOM IT Services shows 22% turnover increase and returns to profitability - 65% of consolidated sales from international activities.
INTRACOM IT Services, the leading provider of IT services in Greece, has significantly improved its financial results versus 2006 and returned to profitability, according to the 2007 consolidated financial statements.
Specifically, the consolidated sales of the group amounted to euro 154,0 mln versus euro 126,6 mln in 2006, showing a 22% increase. The sales from international activities surpassed the euro 100 mln mark, representing 65% of the total sales. Total consolidated earnings before interest, tax and depreciation (EBITDA) presented a significant increase, reaching euro 6,1 mln versus losses of euro 9,4 mln in 2006. At the same time, total consolidated earnings before interest and tax (EBT) amounted to euro 0,6 mln versus losses of euro 13,9 mln in 2006, while the group's backlog of projects amounts to euro 210 mln.
Mr. Nikolaos Labroukos, Deputy Chief Executive Officer of INTRACOM IT Services, stated: "The financial results of 2007 affirmed the strategic direction of the group and laid a solid basis for strong growth and profitability in the next years. As far as the group's objectives for 2008 are concerned, these mainly focus in expanding our international presence, enriching our portfolio of services and products, as well as investing in the development of our human resources, which is the most valuable asset of our group".
INTRACOM IT Services Group employees more than 1600 people in 11 countries worldwide. More than 500 international organizations and companies in numerous countries around the globe (Albania, Belgium, Bulgaria, Croatia, Cyprus, Denmark, Egypt, FYROM, Georgia, Germany, Great Britain, Greece, Iraq, Jordan, Latvia, Libya, Lithuania, Luxemburg, Mali, Malta, Moldova, Pakistan, Senegal, Slovenia, Spain, Syria, the Netherlands, Uganda, Ukraine, Poland, Qatar, Romania, Serbia, South Africa, USA and more) have chosen the group for its advanced solutions and professional services. Its success lies in the invaluable expertise and know-how of its people, as well as in the substantial experience it possesses in the sectors of: E-Government and Public Administration IT Systems, Solutions and Products for Banks and Large Enterprises, Solutions and Services for the Institutions of the European Union, Outsourcing, Legal Information Databases, Travel Management Solutions, Integrated SAP Solutions, and more.
Recent major projects of the group include the integrated IT systems for the Greek audit authorities and the Greek customs, the Government Financial Management Information System (GFMIS) for the Ministry of Finance of the Kingdom of Jordan, the implementation of the integrated banking system PROFITS? for Panellinia Bank, 11 Cooperative Banks in Greece and People's Bank in Georgia, the phone banking and contact center system for National Bank of Greece, a series of important projects in the customs domain delivered by INTRASOFT International to several European countries, the provision of integrated IT services and the provision of SAP services to the European Committee, and more.
These important successes confirm the leading position of INTRACOM IT Services in Greece and the significant growth and recognition that it enjoys in the international markets. The group will continue to invest in human resources, new products development, know-how and international networks in order to preserve and further develop its successful course.