ELLAKTOR S.A.
Press Release regarding the ordinary annual shareholders general meeting.
PRESS RELEASE REGARDING THE ORDINARY ANNUAL SHAREHOLDERS GENERAL MEETING OF THE COMPANY ELLINIKI TECHNODOMIKI TEB SA.
New corporate name, new business headquarters, new figures for ELLINIKI TECHNODOMIKI TEB - AKTOR Group.
The above was referred, among other issues, by the management of the Group during the today Ordinary Annual Shareholders General Meeting. It was noted that the change of the corporate name of 'ELLINIKI TECHNODOMIKI TEB SA' to 'ELLAKTOR S.A.', that was approved today, as well as the transfer of the Group to the state-of-the-art, privately-owned business headquarters to Nea Kifissia, signal the dynamic course of the Group with leading presence in Greece in the sectors of Construction and Concessions and with a very strong portfolio of activities in the sectors of Energy & Environment as well as Real Estate development.
Consolidated sales for 2008 are expected to exceed 1.5 billion euros, earnings before taxes will amount close to 200 million euros, net earnings before minority rights 130 million euros and net earnings after minority rights will stand approximately at 100 million euros.
The Construction Sector's backlog currently stands at 5 billion euros and is allocated in eight different countries. In order to realize this substantial investments were required.
AKTOR, the largest company in the Greek construction market, has a significant presence in Middle Eastern and South Eastern European countries, with the undertaking of big projects in Oman, Qatar, Kuwait, United Arabian Emirates as well as in Bulgaria and Romania. In the Greek market the big co financed projects have already began.
There were significant developments concerning the group both in 2007 and the first months of 2008. Among others the following were reported:
The merging of the Group's forces with PANTECHNIKI, which resulted in a major concession portfolio under the legal entity known as AKTOR CONCESSIONS. In this way a unique for the Greek Standards unit was created, that was comparable to corresponding European outfits, with participation in almost all the large co-financed projects implemented in Greece, with high turnover, high profitability, and capable of successfully bidding on projects abroad. Today, AKTOR CONCESSIONS has a powerful participation portfolio, by owning:
59.25% of ATTIKI ODOS S.A., which constructed and operates the motorway by the same name in Attica,
86.7% of MOREAS S.A., the company constructing and operating the Corinth-Tripoli-Kalamata motorway and the Lefktro-Sparti branch,
50% of THERMAIKI ODOS S.A., the company constructing and operating the Thessaloniki Submerged Tunnel,
20.7% of GEFYRA S.A., which constructed and operates the Rio ? Antirio Bridge,
18% of APION KLEOS S.A., the company constructing and operating the Elefsina-Korinthos-Patras-Pirgos-Tsakona motorway and
20% of AEGEAN MOTORWAY S.A., the company constructing and operating the Maliakos-Klidi motorway.
In the energy sector the group is embarking on an aggressive expansion plan of its wind farm portfolio with a total capacity of 1600 MW. There are already in operation 31 MW, additional 81 MW are currently under construction for 2008-2009, while there are establishment licenses for additional 90 MW. At the same time, the construction of thermoelectrical station of 420 MW capacity in Thisvi Viotia in cooperation with Edison has already been started.
In the environment sector the emphasis is on delivering on the current project backlog of euro 120 million, leveraging our leading position as a waste to energy player in Greece and further expanding our service portfolio in higher value added services. The aim is the segment?s growing profitability contribution to the group's results.
In the Real Estate sector the Group strengthens its activation through its subsidiary company REDS S.A. Regarding the Gyalou property, the issue of building licenses within the current year is expected. Regarding the Kantza property, the process for the definition of the buildings terms is in progress. At the same time, several significant investments have been realized in properties located in the Athens Avenue and Elefsina as well as in Bucharest, Romania where there is important potential.
DIVIDEND
The dividend distributed to the shareholders for the year 2007 by the company ELLINIKI TECHNODOMIKI TEB S.A., as this was decided by the today General Meeting, amounts to euro 0.18 per share, and will be augmented by the dividend corresponding to the Company's own shares, or by euro 0.001618 per share, so the total dividend for the year 2007 amounts to euro 0.181618 per share. Eligible to receive the dividend are company shareholders after the closing of the trading session of the Athens Exchange as of 23.6.2008. From 24.6.2008 the company shares will be traded in the Athens Exchange without right for dividend. The dividend payment day will begin on the 2.7.2008, through the network of ALPHA BANK branches.
New corporate name, new business headquarters, new figures for ELLINIKI TECHNODOMIKI TEB - AKTOR Group.
The above was referred, among other issues, by the management of the Group during the today Ordinary Annual Shareholders General Meeting. It was noted that the change of the corporate name of 'ELLINIKI TECHNODOMIKI TEB SA' to 'ELLAKTOR S.A.', that was approved today, as well as the transfer of the Group to the state-of-the-art, privately-owned business headquarters to Nea Kifissia, signal the dynamic course of the Group with leading presence in Greece in the sectors of Construction and Concessions and with a very strong portfolio of activities in the sectors of Energy & Environment as well as Real Estate development.
Consolidated sales for 2008 are expected to exceed 1.5 billion euros, earnings before taxes will amount close to 200 million euros, net earnings before minority rights 130 million euros and net earnings after minority rights will stand approximately at 100 million euros.
The Construction Sector's backlog currently stands at 5 billion euros and is allocated in eight different countries. In order to realize this substantial investments were required.
AKTOR, the largest company in the Greek construction market, has a significant presence in Middle Eastern and South Eastern European countries, with the undertaking of big projects in Oman, Qatar, Kuwait, United Arabian Emirates as well as in Bulgaria and Romania. In the Greek market the big co financed projects have already began.
There were significant developments concerning the group both in 2007 and the first months of 2008. Among others the following were reported:
The merging of the Group's forces with PANTECHNIKI, which resulted in a major concession portfolio under the legal entity known as AKTOR CONCESSIONS. In this way a unique for the Greek Standards unit was created, that was comparable to corresponding European outfits, with participation in almost all the large co-financed projects implemented in Greece, with high turnover, high profitability, and capable of successfully bidding on projects abroad. Today, AKTOR CONCESSIONS has a powerful participation portfolio, by owning:
59.25% of ATTIKI ODOS S.A., which constructed and operates the motorway by the same name in Attica,
86.7% of MOREAS S.A., the company constructing and operating the Corinth-Tripoli-Kalamata motorway and the Lefktro-Sparti branch,
50% of THERMAIKI ODOS S.A., the company constructing and operating the Thessaloniki Submerged Tunnel,
20.7% of GEFYRA S.A., which constructed and operates the Rio ? Antirio Bridge,
18% of APION KLEOS S.A., the company constructing and operating the Elefsina-Korinthos-Patras-Pirgos-Tsakona motorway and
20% of AEGEAN MOTORWAY S.A., the company constructing and operating the Maliakos-Klidi motorway.
In the energy sector the group is embarking on an aggressive expansion plan of its wind farm portfolio with a total capacity of 1600 MW. There are already in operation 31 MW, additional 81 MW are currently under construction for 2008-2009, while there are establishment licenses for additional 90 MW. At the same time, the construction of thermoelectrical station of 420 MW capacity in Thisvi Viotia in cooperation with Edison has already been started.
In the environment sector the emphasis is on delivering on the current project backlog of euro 120 million, leveraging our leading position as a waste to energy player in Greece and further expanding our service portfolio in higher value added services. The aim is the segment?s growing profitability contribution to the group's results.
In the Real Estate sector the Group strengthens its activation through its subsidiary company REDS S.A. Regarding the Gyalou property, the issue of building licenses within the current year is expected. Regarding the Kantza property, the process for the definition of the buildings terms is in progress. At the same time, several significant investments have been realized in properties located in the Athens Avenue and Elefsina as well as in Bucharest, Romania where there is important potential.
DIVIDEND
The dividend distributed to the shareholders for the year 2007 by the company ELLINIKI TECHNODOMIKI TEB S.A., as this was decided by the today General Meeting, amounts to euro 0.18 per share, and will be augmented by the dividend corresponding to the Company's own shares, or by euro 0.001618 per share, so the total dividend for the year 2007 amounts to euro 0.181618 per share. Eligible to receive the dividend are company shareholders after the closing of the trading session of the Athens Exchange as of 23.6.2008. From 24.6.2008 the company shares will be traded in the Athens Exchange without right for dividend. The dividend payment day will begin on the 2.7.2008, through the network of ALPHA BANK branches.