ELLAKTOR Group of companies announces its financial results for the fiscal year 2010 in accordance with the International Financial Reporting Standards (I.F.R.S.).
Consolidated turnover amounted for the fiscal year 2010 to 1,753.1 million euro as opposed to 2,268.6 million euro in 2009, decreased by 22.7%. Consolidated earnings before interest and tax (EBIT) reached for the fiscal year 2010 at 151.4 million euro versus 232.9 million euro in 2009, decreased by 35%. Consolidated earnings before interest, tax, depreciation and amortization (EBITDA) amounted to 263.3 million euro in comparison with 335.3 million euro in 2009 decreased by 21.5%. Earnings before taxes for the fiscal year 2010 amounted at 88.8 million euro versus 172.2 million euro in 2009 decreased by 48.5%.
Net earnings after tax and minority interests amounted at 0.5 million euro versus 64.9 million euro in 2009 decreased by of 99.1%. (Without the negative influence of the extraordinary tax, the net earnings after tax and minority interests would be 11.2 million euro). Consolidated profit after tax per share stood at 0.003 euro versus 0.376 euro in 2009.
Specifically:
The Group's construction sector (construction and quarries) turnover for 2010 amounted to 1,357 million euro versus 1,804.4 million euro, decreased by 24.8% compared to last year. 70% of the turnover is from projects in Greece while the remaining 30% from projects abroad. Operating profit of the construction sector amounted at 23.7 million euro versus 68.4 million euro decreased by 65.4% and the results after tax and minority interests were losses of 7.7 million euro versus net earnings of 28.8 million euro, decreased by 127% compared to 2009. The Group's backlog stands at 2.5 billion euro, while there are contracts pending to be signed of the amount of 408 million euro. Concessions sector for the year 2010 contributed to Group's revenues 289.5 million euro versus 323.5 million euro, decreased by 10.5% compared to last year. Operating results stood at 102.9 million euro compared to 138 million euro decreased by 25.9%. The respective operating profit margin is 35.6%. Net earnings after tax and minority interests stood at 14.9 million euro versus 35.3 million euro decreased by 57.9% compared to 2009.
In the Environment sector turnover amounted to 80.6 million euro versus 119.4 million euro decreased by 32.4% compared to 2009. In terms of profitability, operating results stood at 19.4 million euro versus 24.5 million euro decreased by 20.6% compared to last year. Net earnings after tax and minority interests stood at 7 million euro versus 11 million euro decreased by 36.4% compared to 2009.
Wind energy sector in 2010 increased turnover by 49.2% to 21.3 million euro versus 14.3 million euro in 2009. Operating results increased by 59.6% compared to 2009 and amounted to 9 million euro in comparison with 5.6 million reported in 2009. Net earnings after tax and minority interests stood at 3.3 million euro versus 1.8 million euro increased by 78.8% compared to 2009. The real estate sector reported for 2010 turnover totalling 2.9 million euro versus 4.5 million euro in 2009 decreased by 36.1% and losses after tax and minority interests of 2.2 million euro versus 1 million euro last year.
On a parent company level turnover amounted to 0.5 million euro over 0.4 million euro in 2009 increased by 19.5%. Earnings before interest, tax, depreciation and amortization reached at 0.3 million euro versus 6.2 million euro, while earnings before tax amounted to 8.1 million euro versus to 28.3 million euro, decreased by 71.4% Net earnings after tax amounted to 6 million euro over 23.8 million euro in 2009 decreased by 74.7%. Finally, earnings after tax per share amounted 0.035 euro.
Company's management shall propose to the General Shareholders' Meeting for the year 2010 a dividend distribution of 0.03 euro per share which will be increased with the dividend corresponding to treasury shares.