Financial Results under IFRS for 2005

Info-Quest announces its Financial Results under IFRS for 2005.

  • Consolidated Revenues of euro 537 m versus euro 475 m in 2004, an increase of 13%.
  • Consolidated Earnings before Interest, Taxes and Depreciation (E.B.I.T.D.A.) of euro 40 m versus euro 14,4 m in 2004.
  • Consolidated Earnings before Taxes (E.B.T.) of euro 19,3 m versus losses of euro 3,8 m in 2004.
  • Consolidated Earnings after Taxes and minority interest of euro 12 m versus losses of euro 2 m in 2004.

The improvement in the profitability of the Group was mainly due to the strong financial performance of Q-TELECOM, the telecom division of mother company Info-Quest (which is not part of the Group anymore), as well as the turnaround and the return to profitability of ACS. Parent company's revenues in 2005 reached euro 435 m vs euro 380 m, EBITDA more than doubled to reach euro 36,3 m vs euro 17,6 m, Earnings before Taxes reached ? 18,7 m vs of euro 3,2 m and Earnings after Taxes reached euro 13,2 m vs of ?1,3 m in 2004. The parent company's financial results per business area are as follows:

I. T.:
The IT revenues reached euro 278 m from euro 273,7 m in 2004, EBITDA euro 6,5 m, vs 7,6 m and Earnings before Taxes reached euro 2,6 m vs euro 4,6 m in 2004. Info-Quest's 2005 IT results include one-off extraordinary expenses associated with the spin off and sale of Q-Telecommunications.

Q-TELECOM:
Q-Telecom's Revenues reached euro 157,2 m in 2005 from euro 106,5 an increase of 49%.
EBITDA reached euro 29,7 m from euro 10 m and earnings before taxes reached euro 16 m vs losses of euro 1,4 m in 2004. As it is already announced, Info-Quest sold the total of Q-TELECOMMUNICATIONS S.A. shares to Hellen GAC Telecommunications S.A. for euro 330 million. Hellen GAC Telecommunications has assumed to pay off the euro 25 million bond loan of Q-TELECOMMUNICATIONS. Hellen GAC Telecommunications S.A. is a subsidiary of TIM HELLAS S.A. which is controlled by the investment companies APAX Partners and Texas Pacific Group.

ACS Courier:
ACS, the courier services company, which has fully recovered in 2005, has 2005 sales of euro 66,8 m vs euro 62,8 m, EBITDA euro 2,8 m vs -euro 5,4 m , EBT of euro 1,5 m vs losses of euro 7,1 m and Earnings after Taxes of euro 0,6 m versus losses of euro 5,3 m in 2004. ACS has the largest network of franchisees with more than 320 points of sales in 200 cities in Greece. ACS operates in Cyprus and Albania and from this year will also operate in Bulgaria and Romania.

About Info-Quest:
Established in 1981, Info Quest (listed since 1998 at Athens Stock Exchange-ASE , Reuters) is the largest Greek Information Technology (IT) Company, ranked by its sales volume and operates through two operational sectors: (1) Products & IT Support Services, (2) Software and IT Solutions. Moreover, Info-Quest is a majority shareholder of ACS, the leading courier company in Greece with more than 320 points of sales. Info Quest reported a consolidated turnover of ? 537 million for the fiscal year ended December 31, 2005. Info-Quest and its subsidiaries employ about 1.200 people.


Search
Toolbox
Market

Composite index

Calendar

FinancialCalendarPortlet

Asset Publisher