EYDAP reports for the financial year 2009 revenues that amount to €386.17 mn from €403.16 mn in 2008, down 4.21%. This fall was mainly due to a significant fall in water consumption, as a result of water reserve policy, in order to avoid the water famine.
Additionally, cost of sales in 2009 reached €240.38 mn from €226.69 mn in 2008. This rise by 6% was mainly due to an increase in the operations cost of Psyttalia Wastewater Treatment Plant and the excessive needs for pumping water from the Yliki reservoir.
All the above, contributed to a decrease in pre-tax profits, reaching €18.02 mn in 2009 from €49.21 mn in 2008 and after-tax profits were limited to €5.74 mn from €31.23 mn in 2008. It is worth mentioning that the decrease in the after-tax profit was highly affected by the emergency tax imposed, reaching the amount of €5 mn.
The Board of Directors intends to declare in the 28th General Meeting of Shareholders, scheduled for the 4th of June 2010, a dividend of € 0.02 per share in relation to € 0.13 in 2008.