Press Release Financial Results F.Y. 2011 under I.F.R.S.
Peania, March 30, 2012
INTRAKAT Group announced its full year 2011 financial results in accordance with the International Financial Reporting Standards (IFRS):
Group
Group turnover for 2011 totaled €127.0 million over €191.0 million in the respective period last year, decreased by 33.5%.
Earnings before taxes amounted to €3.4 million over €4.6 million in 2010, decreased by 26%, whereas net profit formed at €1.0 million over €1.8 million, with a 43.7% drop.
Earnings before interest, tax, depreciation and amortization (EBITDA) were €10.6 million as compared to €10.3 million in 2010, a 3% increase.
Profits after taxes and non controlling interest formed at €1.4 million over €2.1 million in 2010, decreased by 31.7%.
Parent company
The Company’s turnover amounted to €69.4 million over €129.8 million, a 46.6% drop over 2010.
Earnings before taxes formed at €2.0 million over €4.0 million in 2010 and are decreased by 49.6, whereas net profit amounted to €409 thousand over €2,3 million in 2010 with an 82% drop.
Earnings before interest, tax, depreciation and amortization (EBITDA) were €7.5 million, down 18.5% from €9.2 million.
The Group’s total liabilities for 2011 decreased by 24.62% to €113.9 million as compared to €151.1 million last year, while the Company’s liabilities showed a 25.15% drop down from €102.6 million to €76.8 million.
In addition Group bank liabilities improved by 29.4% and amounted to €38.6 million over €54.7 million in 2010 and so did the company bank liabilities which totaled to €27.0 million over €39.7 million, with a 31.9% improvement.
The INTRAKAT Group despite the particularly difficult business environment that has pertained over the past two year period, has managed to maintain its rank among the top five construction companies in Greece and to cut down losses, whereas it is estimated that it will sustain its steady course for 2012.
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 to the amount of €250-300 million.
The company’s backlog as of December 31, 2011 amounted to €180 million. In addition, up to March 2012 it has been awarded €124 million new contracts out of which new projects of €40 million budget have already been signed.
About Intrakat
INTRAKAT was founded in 1987 and is a member of the INTRACOM HOLDINGS Group of companies. It has been listed on the Athens Stock Exchange since 2001 and is classified in the Register of Contractor Companies as a holder of a seventh class contractor’s certificate. In 2005 it merged with Intramet, a steel construction company. Backed by its lengthy experience, INTRAKAT executes high technology, specialized projects in the technical area (construction – infrastructure) and in the areas of the environment, renewable energy sources, technology and telecommunications infrastructures, energy, industrial plants, metal constructions, real estate development and natural gas in Greece and abroad. The Intrakat Group employs 399 persons.
Contact person
Ioanna Papavasiliou, Intrakat Communications Department
T: 21–06674346 E: ipapav@intrakat.gr Web: www.intrakat.com
