INTRACOM S.A. HOLDINGS
INTRACOM IT Services Group Significant improvement seen in 2008 financial results
- The INTRACOM IT Services Group showed a significant improvement in earnings and increase in turnover during 2008. More details are below.
- The Group's sales totalled EUR 161,8 million (compared to EUR 154 million in 2007), consolidating it as the leading Greek IT Solution and Services Provision Group for yet another year.
- The profits before tax, interest and depreciation (EBITDA) totalled EUR 17,85 million (compared to EUR 6,12 million in 2007), while profits before tax and interest (EBIT) totalled EUR 15,40 million (compared to EUR 3,28 million in 2007).
- The pre-tax profits totalled EUR 6,55 million (compared to EUR 0,54 million in 2007).
- Finally, the backlog at the end of 2008 totalled EUR 205 million. Commenting on the results, the Dep. Chief Executive Officer of the Group, Mr. Nikolaos Socrates Labroukos, stated: "2008 was a year of rigorous effort and the Group's results show a significant improvement compared to 2007. We remained focus on the three-pronged strategy "international activity, specialisation, quality", which we have set as the development framework during the last years, while particular emphasis continues to be placed on recruiting the best human resources and on their constant improvement and development.
Most of the group's companies and specifically INTRACOM IT Services, Intrasoft International, INTRACOM Jordan, and INTRACOM IT Services Denmark, have significantly improved their performance, and thanks to their efforts, today the INTRACOM IT Services Group has a physical presence in 11 countries, has ongoing projects in 55 countries worldwide and the Group's customer base has been significantly extended.
This concerted effort will continue and will be further intensified. Consistent with our strategy, and by continuing the reinforcement of our Group, we believe that we will successfully overcome the difficulties of 2009 and will substantially exploit the opportunities which will appear in the Greek and international markets."
- The Group's sales totalled EUR 161,8 million (compared to EUR 154 million in 2007), consolidating it as the leading Greek IT Solution and Services Provision Group for yet another year.
- The profits before tax, interest and depreciation (EBITDA) totalled EUR 17,85 million (compared to EUR 6,12 million in 2007), while profits before tax and interest (EBIT) totalled EUR 15,40 million (compared to EUR 3,28 million in 2007).
- The pre-tax profits totalled EUR 6,55 million (compared to EUR 0,54 million in 2007).
- Finally, the backlog at the end of 2008 totalled EUR 205 million. Commenting on the results, the Dep. Chief Executive Officer of the Group, Mr. Nikolaos Socrates Labroukos, stated: "2008 was a year of rigorous effort and the Group's results show a significant improvement compared to 2007. We remained focus on the three-pronged strategy "international activity, specialisation, quality", which we have set as the development framework during the last years, while particular emphasis continues to be placed on recruiting the best human resources and on their constant improvement and development.
Most of the group's companies and specifically INTRACOM IT Services, Intrasoft International, INTRACOM Jordan, and INTRACOM IT Services Denmark, have significantly improved their performance, and thanks to their efforts, today the INTRACOM IT Services Group has a physical presence in 11 countries, has ongoing projects in 55 countries worldwide and the Group's customer base has been significantly extended.
This concerted effort will continue and will be further intensified. Consistent with our strategy, and by continuing the reinforcement of our Group, we believe that we will successfully overcome the difficulties of 2009 and will substantially exploit the opportunities which will appear in the Greek and international markets."