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Thursday, 31 August 2006
H1 2006 financial results :
- Sales increasing trend continues
- New 6m contracts at a 5-year record
- Parent company EBT €15.1
- Negative impact to the Group's Earnings after tax due to the debit difference and taxes from the "sub-group sales" transaction
INTRACOM HOLDINGS sales continued to increase in H1 2006, reaching €331.5 mil. up by 28.4%. EBITDA had an important improvement of 34.2%, reaching €39.3 mil., and ÅÂÉÔ increased by 54.7% reaching €19.6 mil., compared to H1 2005. Parent company's EBT were €15.1 mil. and net profits €5.9 mil.
In H1 2006 new contracts signed by INTRACOM HOLDINGS achieved a 5-year record reaching €406.6 million; 54% of these contracts came from international activities. Specifically, in Telecommunications new contracts from Greece are €108.5 mil. and €154.8 mil. from abroad, in Defense Systems €0.2 mil. from Greece and €21.0 mil. from abroad; and, for IT €10.8 mil. from Greece and €42.6 mil. from abroad.
Regarding the sales break down according to the Group's basic activities - after the deduction of intra-group sales - the larger part comes from telecommunication products and services, reaching €185.7 mil. ÉÔ Services sales follow, reaching €51.7 mil., while Defense Applications are €38.8 mil. Construction and telecommunication services sales reached €36.8 mil. and €15.9 mil. respectively, while the remaining non-distributable sales have reached €2.6 mil.
The Group's ÅÂÔ were €11.1 mil. due to the €19.1 mil. difference from the transaction value of the sale of 51% of INTRACOM TELECOM and the net assets contributed by the sold entity , which is included in the account "earnings / losses from sub-group sale", as well as from the €6.9 mil. taxes paid due the above transaction, ÅÁÔ AM was - €18.1 mil. The present value of the projected earnings stemming from the €300 mil. potential revenue agreed with AFK SISTEMA, was not taken into account in EATAM calculation.
The acquisition of hellas online (hol) has been finalized on 01/31/2006. Therefore, HOL financial results for the period of 02/01/2006-06/30/2006 are consolidated in the Group's figures. The capital gain resulting from the sale of Forthnet SA stake, worth €12.0 mil., is included in the operational results of the Group's parent company for H1 2006. Moreover, in H1 2005 results, a €5.3 mil. profit from derivative products valuation had been included. Regarding the parent company, INTRACOM HOLDINGS, the results are: Sales: €13.3 mil., EBITDA: €17.2 mil., ÅÂÉÔ: €15.4 mil., ÅÂÔ: €15.1 mil. and ÅÁÔ: €5.9 mil.
About INTRACOM HOLDINGS
Founded in 1977, INTRACOM SA is listed on the Athens Stock Exchange since 1990 and included in the FTSE/ASE-20 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 5,700 employees, exports to 60 countries and operates subsidiaries in 19 countries.
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