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ANNOUNCEMENTS

Ellaktor: 9M 2011 Group Financial Figures

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The ELLAKTOR Group of companies announces its financial results for the period from 01.01.11 to 30.09.11, in accordance with the International Financial Reporting Standards (I.F.R.S.).

Consolidated turnover for the period from 01.01.11 to 30.09.11, is 967.64 million euro compared to 1,302.25 million euro in the corresponding period of 2010, decreased by 25.69%.

Consolidated earnings before interest and tax (EBIT) for the period from 01.01.11 to 30.09.11, is 36.47 million euro, compared to 119.11 million euro for the corresponding period of 2010, decreased by 69.38%. Consolidated earnings before interest, tax, depreciation and amortization (EBITDA) amount to 116.28 million euro compared to 203.15 million euro for the corresponding period of 2010, decreased by 42.76%.

Finally, loss after taxes and minority interests amount to 36.23 million euro, compared to profit 8.46 million euro last year.

Consolidated loss after tax per share was 0.21 euro compared to profit 0.05 euro for the corresponding period of 2010.
 
Specifically:
 
For the 9M of 2011, the Group’s construction sector (construction and quarries), presented a turnover of 687.98 million euro compared to 1,006.84 million euro for the corresponding period in 2010, a decrease of 31.67%. Construction operating result was loss 52.68 million euro compared to profit 20.83 million euro for the corresponding period of 2010. Loss after tax presented 61.29 million euro compared to loss 4.02 million euro.  The group’s backlog of signed contracts remains high, currently standing at 2.5 billion euro, while there are contracts pending for signature in the amount of 235 million euro. 

The Concession sector’s consolidated revenue for the 9M of 2011 was 205.96 million euro compared to 217.55 million euro, decreased by 5.33%, operating profit was 67.45 million euro compared to 80.64 million euro, decreased by 16.36%, and net profit after tax was 33.52 million euro compared to 29.50 million euro, increased by 13.60%. 

In the Environment sector, turnover for the 9M of 2011 was 54.20 million euro compared to 59.35 million euro, decreased by 8.69%, operating profit was 16.52 million euro compared to 13.56 million euro, increased by 21.82% and earnings after tax 12.04 million euro compared to 6.15 million euro, increased by 95.68%. 

The Wind energy sector consolidated revenue for the 9M of 2011 was 16.70 million euro compared to 15.39 million euro, increased by 8.53%, operating profit was 8.04 million euro compared to 6.22 million euro, increased by 29.27%, and net profit after tax 2.80 million euro compared to 3.13 million euro, decreased by 10.67%.

The Real estate sector consolidated earnings in the 9M of 2011 were 1.70 million euro compared to 2.13 million euro in the corresponding period of last year, decreased by 19.96%, operating result (loss) was 1.11 million euro compared to a loss of 1.84 million euro and loss after tax 2.41 million euro compared to a loss of 2.68 million euro.
 
There were 0.25 million euro of sales at parent company level in the 9M of 2011 compared to 0.03 million euro last year.  Earnings before tax, interest, depreciation and amortization were 2.54 million euro, loss before tax was 6.09 million euro, and net loss after tax  was 6.36 million euro.
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