Press release INTRAKAT Group – First Half FY 2012 financial results under IFRS

Peania, Friday August 31 2012 – INTRAKAT Group announced its first half FY 2012 financial results in accordance with the International Financial Reporting Standards (IFRS):

Group

The Group’s turnover for the first half of 2012 totaled € 50.3 million, as compared to €67.5 million in the first half of 2011, a 25.5% drop. Earnings before interest, tax, depreciation and amortization (EBITDA) were €2.5 million as compared to €5.3 million in 2011. Earnings/(losses) after taxes and non controlling interest formed at losses € -944 thousand for the 6M 2012 period over profits € 919 thousand the equivalent period  in 2011, due to additional provisions for doubtful debts formed in the period under review.

Parent company

The Company’s turnover amounted to €30.4 million over €37.0 million, a 17.8% drop over the first half of 2011. Earnings before interest, tax, depreciation and amortization (EBITDA) were €835 thousand, over €3.9 million in 2011.

The INTRAKAT group has managed to avoid significant losses in the present extremely difficult economic conditions and maintain its position stable among the top five Greek construction companies. By exploiting its 3 contractors’ licences (INTRAKAT 7th grade, PRISMA DOMI ATE 5th grade and EUROKAT 3rd grade) the Group participates competitively in tendering procedures for new construction projects while it maintains stable its backlog. The company’s backlog as of June 30, 2012 amounted to €223 million. In addition, up to August 2012 it has been awarded €119 million new contracts out of which new projects of a €15 million budget have already been signed.