FY 2005 FINANCIAL RESULTS ACCORDING TO I.F.R.S.
INTRAKAT group announced its FY 2005 financial results according to the International Financial Reporting Standards (I.F.R.S.).
More specifically, consolidated sales in 2005 stood at euro 47.3 mil. over euro 46.8 mil. in 2004 marking a marginal increase of 1%, which is valued positively by the group’s management, given the wider recession of constructions in the Greek market after the completion of the Olympic projects and the significant delays in the progress of public works.
Consolidated gross profit marked a decrease of 27.7% and stood at euro 9.0 mil. over euro 12.4 mil. in the respective period last year. At the same time, the gross profit margin stood at 18.9% over 26.5% in 2004, which is mainly attributed to delays of public works remunerations as well as to the retention of profit margin in construction projects in order to preserve existing market shares held by the group in its markets of operation.
Moreover, earnings before interest, tax, depreciation and amortization (EBITDA) amounted to euro 1.3 mil. over euro 6.8 mil. in 2004. Please note that within 2005 the group, aiming at ensuring its successful growth course, expanded to a series of new corporate activities, as well as to new foreign markets and as a consequence FY results were charged with a cost which regards the operation of business units which have not yet reached the phase of maturity and return.
The above facts had a parallel impact on the rest FY 2005 figures, transferring expected perspectives to a future financial year. Profit before tax for the year 2005 stood at euro 1.6 mil. over euro 8.9 mil. in 2004, while finally, earnings after tax and minorities amounted to euro 1.3 mil. over euro 5.8 mil. in 2004.
In 2006, after the absorption of INTRAMET, INTRAKAT group is from now on active in the wider constructions and business area, through an especially competitive and flexible formation which includes three autonomous business units: constructions, telecommunications projects and steel constructions.
The company’s strategy for attaining its goals is mainly based on the following:
– Optimum use of Group partners and affiliates both in Greece and abroad for the implementation of projects in the fields of environment, energy, concessions, residential developments, broadband and telecommunications network, natural gas and sports.
– Participation in business formation for the concession of self-funded and co-funded public and private infrastructure projects.
– Exploitation of company’s specialisation both in the fields of traditional public and private projects and in the fields of telecommunications, complex steel constructions, broadband networks and sports facilities.
