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Monday,
31 March 2008
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Financial Results 2007 +++
- urnover increased by 20%
- Return to operational profitability
- All business activities were profitable, except hellas online
- Losses decreased by 46% - Deferred taxation weighed on final results
- New contracts signed reached € 737 mil. versus
€ 691 mil. in 2006
The consolidated sales of INTRACOM Holdings Group amounted to
€ 423,0 mil., up by 20% from 2006, while the new contracts signed in 2007 reached € 737 mil. More specifically, the turnover of hellas online, Intrakat and INTRACOM IT Services was increased by 54%, 47% and 22% respectively.
EBITDA were € 16,6 mil., losses before taxes reached € -20,4 mil., while net losses after tax amounted to € - 36,9 mil., versus € - 68,9 mil. in 2006. The group's EBITDA are affected by those of hellas online that remain negative due to the severe competition for the acquisition of new customers that the company faces. The other companies of the group show positive and growing EBITDA, while it is reminded that the consolidated sales figure does not include INTRACOM Telecom Group's turnover, as it is consolidated under the net equity method. It should also be noted that the bottom line net result (EATAM: - € 36,9 mil.) is negatively affected by deferred taxation. The taxes of € 15,7 mil. are comprised of income tax (€ 4,7 mil.) and deferred taxation (€ 11 mil.) and weigh on the year's financial results.
The headline figures of the groups/companies consolidated for 2007 were: Turnover for INTRACOM Defense Electronics reached € 79,3 mil. (€ 78,8 mil. in 2006), EBITDA at € 7,4 mil. (€ 9,7 mil. in 2006), earnings before taxes amounted to € 3,6 mil (€ 4,1 mil. in 2006), and new contracts signed were € 30,0 mil.
Turnover for INTRAKAT Group reached € 152,0 mil. (€ 103,7 mil. in 2006), EBITDA at € 10,0 mil. (€ -1,1 mil. in 2006), earnings before taxes amounted to € 1,7 mil. (€ -2,6 mil. in 2006) and new contracts signed were € 325,0 mil.
Turnover for INTRACOM IT Services Group reached € 154,0 mil.
(€ 126,6 mil. in 2006), EBITDA at € 6,1 mil. (€ - 9,4 mil. in 2006), earnings before taxes amounted to € 0,6 mil. (€ -13,9 mil. in 2006) and new contracts signed were € 150,6 mil.
Turnover for hellas online Group reached € 48,2 mil. (€ 31,2 mil. in 2006), EBITDA at € - 15,4 mil. (€ - 11,7 mil. in 2006), losses before taxes amounted to € -31,0 mil. (€ -20,2 mil. in 2006). hellas online shows increased losses due to increased capital expenses for the development of its private fiber optics network, severe competition for the acquisition of new customers, and aggressive marketing policies.
Turnover for INTRACOM Telecom Group reached € 314,6 mil.
(€ 325,3 mil. in 2006), EBITDA at € 30 ,6 mil. (€ -11,3 mil. in 2006), earnings after taxes amounted to € 0,8 mil. (€ -17,1 mil. in 2006), new contracts signed were € 231,3 mil.
Finally, turnover for INTRACOM Holdings International Group
(Cyprus) reached € 11,6 mil. (€ 17,1 mil. in 2006), EBITDA at € 4,9 mil. (€ 0,5 mil. in 2006) and earnings before taxes amounted to
€ 3,8 mil. (€ -0,1 mil. in 2006), while for parent INTRACOM Holdings, turnover reached € 12,1 mil. (€ 19,2 mil. in 2006), EBITDA at € 0,6 mil. (€ 14,6 mil. in 2006) and losses before taxes amounted to € -0,3 mil. (€ 9,3 mil. in 2006, which included € 12,0 mil. capital gain from sale of stake at Forthnet SA.).
About INTRACOM HOLDINGS
Founded in 1977, INTRACOM SA is listed on the Athens Stock Exchange since 1990 and included in the FTSE/ASE-40 LargeCap index. In December 2005 INTRACOM was transformed to a holding company under the name INTRACOM HOLDINGS, being one of the largest multinational technology groups in South-Eastern Europe. The Group's major participations are: INTRACOM TELECOM (telecommunication systems and solutions), INTRACOM DEFENSE ELECTRONICS (defense electronics systems), INTRACOM IT SERVICES (IT solutions for the public sector, banking and enterprises), INTRAKAT (construction, high-tech installations, steel structures, infrastructure maintenance) and Hellas OnLine (Internet and voice services provider). INTRACOM HOLDINGS, as a group, has 5,800 employees, exports to 60 countries and operates subsidiaries in 20 countries. For more information please visit: www.intracom.com.
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