Kifissia, 30 May 2014

PRESS RELEASE

Group Financial Figures - Q1 2014

ELLAKTOR Group of companies announces its financial results for the first quarter of 2014, under the International Financial Reporting Standards (IFRS).

 The consolidated turnover stood at €292.5 million for the first quarter of 2014, compared to €259.6 million for the same period in 2013, up by 12.7%.

Consolidated earnings before interest and taxes (EBIT) stood at €29.8 million for the first quarter of 2014, compared to €27.3 million for the same period in 2013, up by 9.1%. Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) stood at €55.8 million, compared to €52.3 million for the same period in 2013, up by 6.8%.

Consolidated earnings after taxes stood at €7.3 million compared to loss €18.4 million for the same period in 2013.

Earnings after taxes and minority interest for the first quarter of 2014 were €1.7 million compared to losses €17.2 million for the same period in 2013.

Consolidated earnings after taxes per share stood at €0.010 compared to losses €0.100 for the same period in 2013.

 More specifically:

The construction segment of the Group (construction and quarries) recorded a turnover of €204.9 million for the first quarter of 2014, compared to €180.0 million for the same period in 2013, up by 13.8%. Operating results from construction recorded to profits of €4.4 million compared to €3.3 million for the same period in 2013. Profits before taxes recorded to €2.5 million compared to €1.1 million for the same period in 2013. The Group's backlog of construction activities stands at €3.8 billion while there are still contracts to be signed amounting to €491 million.

The Concessions segment recorded consolidated revenue of €47.1 million for the first quarter of 2014, compared to €50.3 million, down by 6.4%, operating profits (operating results) of €16.1 million compared to €14.1 million, up by 14.3%, and earnings before taxes of €7.8 million compared to €12.9 million for the same period in 2013, down by 39.5%.

The Environment segment recorded turnover of €28.9 million for the first quarter of 2014, compared to €16.6 million, up by 74.1%, operating results stood at profits of €5.5 million compared to €4.1 million, up by €35.0%, and earnings before taxes of €5.3 million compared to €4.0 million for the same period in 2013, up by 32.3%.

The Wind Farms segment recorded consolidated revenue of €9.8 million for the first quarter of 2014, compared to €11.1 million, down by 11.7%, operating results stood at profits of €4.0 million compared to €6.5 million, down  by 38.8%, and  earnings before taxes of €1.5 million compared to €4.5 million for the same period in 2013, down by 66.9%.

The Real Estate Development segment recorded consolidated revenue of €1.5 million for the first quarter of 2014, compared to €1.4 million, up by 8.3%,  operating results stood at profits of €0.3 million compared to €0.1 million, and losses before taxes of €0.3 million, compared to losses €0.4 million for the same period in 2013.

At parent company level, for the first quarter of 2014 there weren't sales neither on the  same period in 2013. Results before interest, taxes, depreciation and amortization stood at losses of €0.2 million, compared to losses €0.3 million for the same period in 2013. Results before taxes recorded at losses €4.2 million compared to losses of €3.8 million for the same period in 2013, and after taxes recorded losses €4.2 million for the first quarter of 2014, compared to losses of €4.0 for the same period in 2013.