EYDAP reports for the financial year 2008 revenues that amount to euro 403.16 mn from euro 388.42 mn in 2007, up 3.8% (+euro 14.7 mn). However, cost of sales in 2008 grew by euro 22.4 mn (+11%) and reached euro 226.69 mn from euro 204.31 mn in 2007. This rise was mainly due to an increase in the operations cost of the Β' Phase of the Psyttalia Wastewater Treatment Plant and the excessive needs for pumping water from the Yliki reservoir. As a result of all the above, Gross Profit dropped by almost euro 8 mn (-4.15%) reaching euro 176.46 mn compared to euro 184.10 mn at 2007.
All the above contributed to a decrease in pre-tax profits by euro 9.3 mn (-15.85%), reaching euro 49.21 mn in 2008 from euro 58.48 and after-tax profits were limited to euro 31.23 mn from euro 43.28 mn in 2007, down 27.84%. It is worth mentioning that FY 2008 results were also affected negatively - apart from the additional expenses for the operation of Psyttaleia and water pumping from Yliki by the fact that new water and sewerage tariffs were effective at the end of 2008, having no positive influence at the period?s results.
The Board of Directors intends to declare in the 27th General Meeting of Shareholders, scheduled for the 5th of June 2009, a dividend of 0.13 euro per share in relation to 0.14 in 2007.