INCREASE IN FINANCIAL FIGURES FOR THE FIRST QUARTER 2009
ELLAKTOR Group of companies announces its financial results for the first quarter 2009 in accordance with International Financial Reporting Standards (I.F.R.S.).
Consolidated turnover amounted for the first quarter 2009 to 483.05 million euro as opposed to 381.1 million euro in the respective quarter 2008, marking an increase of 26.7%.
Consolidated earnings before interest and taxes (EBIT) reached for the first quarter 2009 at 61.81 million euro versus 53.71 million euro in the respective period 2008, increased by 15.1%.
Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to 86.42 million euro in comparison with 72.15 million euro for the respective period of 2008, increased by 19.8%.
Consolidated earnings after tax marked an increase of 22% and amounted to 37.02 million euro, versus 30.35 million euro while the earnings after taxes and minority interests reached for the first quarter 2009 at 26.84 million euro versus 20.40 million euro for the respective period of 2008 marking an increase of 31.6%
Consolidated profit after tax per share stood at 0.16 euro over 0.12 euro in the respective period in 2008.
Specifically:
- The Group's construction sector for the first quarter 2009 presented a turnover of 372.35 million euro over 283.89 million euro in the respective period of 2008 increased by 31.16%. Operating profit of the construction sector amounted at 17.71 million euro over 14.8 million euro in Q1 2008 increased by 19.73%. Operating profit margin stood at 4.8% versus 5.2% in the respective period in 2008 (total annual operating margin 4.2%). Net after tax profit stood at 12.02 million euro versus 7.5 million euro in the respective period in 2008, increased by 59.42%. The perspectives for the construction sector are positive. The Group's construction activity backlog exceeds today 4.4 billion euro. Moreover the contracts pending to be signed in the near future amount to 1.2 billion euro.
- Concessions sector for the first quarter of 2009 contributed to Group's revenues 72.29 million euro versus 64.43 million euro, to the operating results 39.23 million euro over 32.65 million euro and to net profit after taxes 23.33 million euro in comparison with 20.05 million euro. This sector's contribution to the consolidated financial results is expected to be even bigger in the years to come, following the growth of the concessions projects portfolio, which will contribute significantly in terms of revenue and profitability.
- In the Environment sector, the Group reported for Q1 2009 consolidated turnover 20.07 million euro versus 22.76 million euro, operating profit of 2.82 million euro in comparison with 6.50 million euro and net profit after tax of 1.92 million euro over 4.18 million euro due to increased investments. The Group's total strategy focuses on the provision of environmentally friendly waste management solutions, covering the whole range of available methods.
- Wind energy sector the Group presented for the first quarter 2009 consolidated revenues at 3.85 million euro over 2.01 million euro, operating results amounted to 1.97 million euro in comparison with 0.80 million euro and the earnings after taxes reached 1.17 million euro over losses 0.22 million euro.
- The quarries sector for Q1 2009 presented for the first quarter 2009 turnover 10.26 million euro over 5.67 million euro and operating profits of 1.63 million euro in comparison with 0.5 million euro.
- The real estate sector reported for the Q1 2009 consolidated turnover totalling 1.22 million, operating results (Losses) of 1.42 million euro and losses after tax of 1.65 million euro.
On a parent company level turnover amounted to 384 thousand euro over 360 thousand euro for the respective period of 2008 increased by 6.67%. Earnings before interest, taxes, depreciation and amortization reached at 93 thousand euro, while losses before taxes amounted to 1.12 million euro. Net results after tax stood at losses 1.17 million euro for the first quarter of 2009.