Kifissia, 28 August 2015

PRESS RELEASE

 Group Financial Figures -H1 2015 

The ELLAKTOR Group of companies announces its financial results for the period from 01.01.2015 to 30.06.2015, in accordance with the International Financial Reporting Standards (I.F.R.S.).

Consolidated turnover for the period from 01.01.2015 to 30.06.2015 amounted to €742.8 million, compared to €650,4 million for the same period of 2014, up by 14.2%.

Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) for the period from 01.01.2015 to 30.06.2015 stood at €24.8 million, compared to €20.0 million for first half of 2014, up by 23.8%. However, these include further impairment of the Group's interests in mining companies by the amount of €19.8 million, which were charged to the results for the first half of 2015, while the operating results for the same period of 2014 included an impairment of interests in mining companies of €45.6 million and a compensation of €9.8 million under a concession project. Adjusted to the above impairment and compensation, the operating results would stand at €44.6 million for the first half of 2015 compared to €55.8 million for the same period last year.

Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at €79.4 million, compared to €72.2 million for the same period of 2014, up by 10%.

Consolidated results before taxes for the first half of 2015 amounted to losses of €21.2 million compared to losses of €12.2 million for the same period of 2014.

Finally, consolidated results after taxes amounted to losses of €28.1 million compared to losses of €24.4 million for the same period of 2014; results after taxes and minority interest amounted to losses of €37.0 million compared to losses of €34.9 million.

 Consolidated results after taxes per share amounted to losses of €0.214 compared to losses of €0.202 for the same period of 2014.

Specifically:

• For the first half of 2015, the Construction segment of the Group (construction and quarries) recorded a turnover of €555.5 million compared to €471.5 million for the same period of 2014, up by 17.8%. Operating results from the construction segment amounted to losses of €23.1 million (including an impairment of interest in mining companies of €19.8 million) compared to losses of €32.7 million for the same period of 2014. Results after taxes amounted to losses of €29.8 million compared to losses of €39.4 million for the same period of 2014.

The Group's backlog of construction activities remains high and stands at €3.7 billion.

• The Concessions segment recorded consolidated income of €101.7 million for the first half of 2015, compared to €101.1 million, up by 0.6%; operating profits (operating results) amounted to €29.3 million compared to €37.7 million, down by 22.3% (however including compensation of €9.8 million under a concession project); profits after tax amounted to €5.2 million compared to €14.4 million for the same period of 2014, down by 63.9%.
• The Environment segment recorded a turnover of €63.0 million for the first half of 2015, compared to €57.2 million, up by 10.1%; operating results amounted to profits of €7.9 million compared to €8.9 million, down by €10.8%; profits after taxes amounted to €5.2 million compared to €6.6 million for the same period of 2014, down by 21.8%.
• The Wind Parks segment recorded consolidated income of €19.2 million for the first half of 2015, compared to €16.9 million, up by 13.3%; operating results amounted to €10.7 million compared to €7.8 million, up by 37.4%; profits after taxes amounted to €4.7 million compared to €2.7 million for the same period of 2014, up by 74.5%.
• The Real Estate Development segment recorded consolidated income of €3.4 million for the first half of 2015, compared to €3.1 million, up by 9.6%; operating results amounted to profits of €0.4 million compared to €0.3 million; results after taxes amounted to losses of €0.8 million compared to losses of €0.4 million for the same period of 2014.

At parent company level, there were no sales either in the first half of 2015 or in the same period of 2014. Results before tax, financing and investing results amounted to losses of €0.6 million compared to €0.5 million for the same period of 2014. Results before taxes amounted to profits of €21.4 million compared to losses of €7.2 million for the same period of 2014, and results after taxes amounted to profits of €21.2 million for the first half of 2015, compared to losses of 7.2 million for the same period of 2014.