Press Release Archive

Thursday, 9 December 2004

+++ INTRACOM GROUP aims at 1€ billion annual sales over the next three years coupled with dynamic growth abroad +++

The € 460m. in new contracts during the first three quarters of 2004 ensure the company's developmental goals for the near future

"INTRACOM is the only Greek company in the technology field with a truly international character. International sales for 2004 represent 45% of turnover and INTRACOM products and services are sold in 50 countries worldwide including Southeast Europe, the Middle East and North Africa. In total. the INTRACOM Group's three-year sales goal exceeds €1 billion per annum." The above were underlined by INTRACOM's CEO, Mr. George Deligiannis during yesterday's General
Assembly.

Mr. Deligiannis also noted that the company's balance sheet is not only very strong when compared with other Greek technologically oriented companies that are listed in the Athens' Stockmarket but
also in comparison to similar companies internationally. In addition, Mr. Deligiannis announced that all of the company's major goals for 2004 have been achieved, thus providing an excellent starting point for further growth.

Following the company's internal restructuring, INTRACOM is now active in the following sectors:

• Telecommunication Systems
  Production of telecom products for broadband access and content provision through broadband networks aimed at a world market worth €15billion which is growing at 20% per annum.
• Services & Operations (Integrated Systems and Telecommunications' Networks, Software, Outsourcing and Operational Management) INTRACOM is by far the largest such company in Greece and ranks among the European
  Institutions' main suppliers through its subsidiary in Brussels and Luxemburg. The next goal is to consolidate INTRACOM among the top three companies in the Balkans, the Middle East and North Africa. In sync with international trends, the company is also entering the market for telecommunications' service provision, both in Greece and abroad, either through cooperation with incumbents or independently. Mr. Deligiannis noted that "in order to provide integrated services based on the convergence of telecommunications and IT we ought to strive for
  synergies from within the network infrastructure".
• defense Electronics
  In this field, INTRACOM has developed significant products and production facilities which, coupled with its expertise and cooperation with major international defense houses, form an infrastructure that is conducive to a wider, regional role.

"The rapid growth of the IT and Telecommunications market in our region, totaling €85 billion, represents INTRACOM's great opportunity. We aim to invest in our growth but also in acquisitions which would complement our geographical scope and expertise" said Mr. Deligiannis.

With respect to the General Assembly's Agenda items, it was decided to not decrease share capital, and hence to not return capital to stockholders. In addition, a widening of the company's mandate to include outsourcing and co-participation in co-financed projects was also decided.

At the end, INTRACOM President, Mr. Socrates Kokkalis stressed his endorsement of the company's executive and its choices, expressed his support both in present and future and assured that all available means will be used in order to secure the company's position in the high-technology sector and its further growth in the international markets.