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ANNOUNCEMENTS

Ellaktor: Press Release

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The ELLAKTOR Group of companies announces its financial results for the period from 01.01.11 to 30.06.11, in accordance with the International Financial Reporting Standards (I.F.R.S.).

Consolidated turnover for the period from 01.01.11 to 30.06.11, is 694.25 million euro million euro compared to 920.36 million euro in the corresponding period of 2010, decreased by 24.57%.

Consolidated earnings before interest and tax (EBIT) for the period from 01.01.11 to 30.06.11, is 31.60 million euro, compared to 87.26 million euro for the corresponding period of 2010, decreased by 63.79%. Consolidated earnings before interest, tax, depreciation and amortization (EBITDA) amount to 86 million euro compared to 144.74 million euro for the corresponding period of 2010, decreased by 40.58%.

Finally, loss after taxes and minority interests amount to 24.3 million euro, compared to profit 4.03 million euro last year.

Consolidated loss after tax per share was 0.141 euro compared to profit 0.023 euro for the corresponding period of 2010.

Specifically:
 
For the first half of 2011, the Group’s construction sector (construction and quarries), presented a turnover of 512.02 million euro compared to 716.05 million euro for the corresponding period in 2010, a decrease of 28.49%. Construction operating result was loss 26.8 million euro compared to profit 17.42 million euro for the corresponding period of 2010. Loss after tax presented 39.12 million euro compared to loss 3.37 million euro.  The group’s backlog of signed contracts remains high, currently standing at 2.4 billion euro, while there are contracts pending for signature in the amount of 48 million euro. 

The Concession sector’s consolidated revenue for the first half of 2011 was 134.86 million euro compared to 148.91 million euro, decreased by 9.43%, operating profit was 44.21 million euro compared to 55 million euro, decreased by 19.62%, and net profit after tax was 21.89 million euro compared to 17.92 million euro, increased by 22.12%. 

In the Environment sector, turnover for the first half of 2011 was 35.47 million euro compared to 41.27 million euro, decreased by 14.06%, operating profit was 11.65 million euro compared to 10.14 million euro, increased by 14.85% and earnings after tax 8.54 million euro compared to 3.58 million euro, increased by 138.54%. 

The Wind energy sector consolidated revenue for the first half of 2011 was 9.81 million euro compared to 11.73 million euro, decreased by 16.37%, operating profit was 4.53 million euro compared to 5.66 million euro, decreased by 20.01%, and net profit after tax 1.65 million euro compared to 3.27 million euro, decreased by 49.69%.

The Real estate sector consolidated earnings in the first half of 2011 were 1.29 million euro compared to 1.67 million euro in the corresponding period of last year, decreased by 22.89%, operating result (loss) was 0.61 million euro compared to a loss of 1.30 million euro and loss after tax 1.42 million euro compared to a loss of 1.79 million euro.
 
There were 0.15 million euro of sales at parent company level in the first half of 2011. Earnings before tax, interest, depreciation and amortization were 2.58 million euro, loss before tax was 2.53 million euro, and net loss after tax  was 2.78 million, for the first half of 2011.
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