INTRAKAT GROUP FULL YEAR 2012 FINANCIAL RESULTS UNDER IFRS
Peania, April 01, 2013 – INTRAKAT Group announced its full year 2012 financial results in accordance with the International Financial Reporting Standards (IFRS):
Group
The Group’s sales for the year 2012 amounted €124,3 million as opposed to €127,0 million during 2011 marking a slight reduction of 2,1%.
The Group’s results before taxes amounted to losses of €743,5 thousand for 2012 as opposed to profits of €3,4 million for 2011, while net results amounted to losses of €1,5 million as opposed to profits of €1,0 million for 2011. Results after taxes and non controlling interests amounted to losses of €1,9 million for 2012 as opposed to profits of €558 thousand for 2011.
The Group’s results were significantly affected mainly by the additional provisions for doubtful accounts formed within the current year amounting €3,2 million, as well as by the impairment of fixed assets incurred and charged on the results, amounting €1,76 million.
The Group’s results before interest, taxes, depreciation, and amortization (EBITDA) amounted to profits of €8,3 million for 2012 as opposed to profits of €10,6 million for 2011.
Parent company
The Company’s sales for the year 2012 amounted €66,4 million as opposed to €69,4 million recording a minor reduction of 4,3% in respect to the year 2011.
The Company’s results before taxes amounted to losses of €6,5 million for 2012 as opposed to profits of €2,0 million for 2011, while net results amounted to losses of €5,45 million for 2012 as opposed to profits of €408 thousand for 2011.
The Company’s results were significantly affected mainly by the additional provisions for doubtful accounts formed within the current year amounting €2,13 million, as well as by the impairment of fixed assets incurred and charged on the results, amounting €1,76 million.
Furthermore, the results for the year 2012 were burdened by the additional financial cost, which for the Group amounted €4,5 million from €4,2 million and for the Company €3,7 million from €3,1 million.
The Company’s results before interest, taxes, depreciation, and amortization (EBITDA), amounted to profits of €872 thousand for 2012 as opposed to profits of €7,5 million for 2011.
The Group’s bank borrowings present an improvement of 11,4% and reached €32,9 million as opposed to €37,2 million, while for the Company they were improved by 9% and reached €24,4 million from €26,9 million.
The Group through the 3 contractors degrees it holds (INTRAKAT 7th grade, PRISMA DOMI 5th grade and EUROKAT 3rd grade) participates competitively in the tendering procedures of new construction projects.
The Group continues the execution of fiber optic networks and base stations infrastructure projects on behalf of major telecom providors as well as the successful construction of electric power production units through Renewable Energy Sources (solar and wind parks). Furthermore, in the waste management field it participates in tendering procedures which are in progress.
The Group’s backlog as of December 31, 2012 amounted €253 million plus €174 million new projects, to which up to March 2013 the Group has the lowest tender and it awaits the completion of the procedures for their final signature.
