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Wednesday, 30 May 2007
INTRACOM Holdings: Return to operational profits in 2007
Q1 2007 sales increase by ~ 30%
The financial analysts and bank representatives' annual briefing on 2006 financial results, the development strategy and Q1 2007 results of INTRACOM Holdings group, took place at the Group headquarters, in Peania today.
Mr. D. Klonis, Executive Director, Group Financial Management, emphasized that the first positive signs of the new year are reflected in the Q1 results, as sales reached €88.9 mil., compared to €68.5 mil. in 2006, EBITDA €6.1 mil., EBT €3.1 mil., and net losses were €-0.8 mil. It is worth mentioning that if the capital gain from selling Forthnet's stake was excluded from Q1 2006, the respective figures would have been EBITDA €2.3 mil., EBT €-1.7 mil., and net losses €-5.5 mil. Today the Group's total cash position is €190 mil. whereas its total debt is approximately €170 mil. showing the Group's solid financial position.
Q1 2007 sales for almost all Group subsidiaries companies that are consolidated, have increased. More specifically, INTRACOM Defense Electronics sales reached €21.8 mil. (€13.8 mil. in 2006), INTRAKAT Group €28.9 mil. (€17.0 mil. in 2006) and INTRACOM ΙΤ Services Group €33.8 mil. (€29.2 mil. in 2006).
As far as 2007 objectives and perspectives are concerned, Mr. Klonis stated that "the return to operational profits is expected for 2007" underlying that it is anticipated that all Group activities will be profitable, except for Hellas OnLine, which continues to develop its privately owned network aiming at increasing its market share. Specifically, sales are expected to reach €451.3 mil., EBITDA €17.9 mil., and net losses after taxes €8 mil. The respective figures in 2006, having in mind that INTRACOM Telecom is not fully consolidated, were sales €349.1 mil., EBITDA €2.2 mil., and net losses after taxes €68.9 mil. The Group is focussing on activities with a higher profitability margin (such as the provision of telecommunication services) and is committed to implement considerable investments. At the same time, the Group will enrich its activities portfolio by participating in self-financed projects through joint-ventures with large Groups (such as the freeway Corinth-Tripolis-Kalamata) and the construction of the privately owned thermo-electrical unit in Thisvi, Viotia.
Following Mr. Klonis, the CEOs of the Group subsidiaries presented their strategy and activities for 2007.
Mr. Νicholaos S. Labroukos, INTRACOM IT Services Deputy CEO, stated that in 2007 the company, overcoming a very hard year (2006), is already in a development course through international expansion, important new projects both in Greece and abroad, strengthening its human capital and improving its financial results. 2007 forecast includes a 15% turnover increase reaching €143 mil., EBITDA €9.0 mil., and EBT €1.5 εκατ . The total backlog is expected to reach €140 mil. Mr. Athanasios Kotsis, CEO of Intrasoft International, subsidiary of INTRACOM IT Services Group, discussed the company's strategy and objectives, as well as its dynamic presence in the European market. The company is expected to continue its development and profitable course in 2007.
Mr. George Troullinos, INTRACOM Defense Electronics CEO, presented the company's strategy, activities and participation in international defense programs, underlining that 2006 and 2007 projects are coming from abroad. In 2007 the company signed new contracts with Northrop Grumman ($ 2.0 mil.), RAM-System and Raytheon (€7.1 mil. and $15 mil.), as well as a 10-year Manufacturing License Agreement with Raytheon. 2007 financial figures forecast sales up to €79.8 mil., EBITDA €7.2 mil. (9.02%) and EBT €3.0 mil. (3.76%).
Mr. Petros Souretis, INTRAKAT CEO, presented the company's strategy, activities and most important new projects. In the last years, INTRAKAT's sales figures have grown steadily (+49.2% in 2005 and +25.7% in 2006). The company's objectives for 2007, as far as constructions are concerned, are international activities, the development of new products, energy projects and technology. As far as telecommunications are concerned, the company aims to increase its market share, offer new services for mobile and fixed operators, strengthen its activity at the international market (Romania, Syria) and develop new products for telecom operators.
Mr. Stephanos Loukakos, Hellas OnLine CEO, presented the company's strategic objective to become the 2nd largest broadband operator - after the Greek PPT (OTE)- in Greece, in the next 3 years , gaining a 25-30% market share, by implementing strategic investments of €250 mil., and providing profitable services. In 2007 the company's commercial objectives are rebranding (in the beginning of June) and providing a new product line - Double-play in June and Triple-play in October. 2007 milestones are the completion of the Attika Telecommunications acquisition, the commercial agreement with Vodafone, as well as the broadband projects for Information Society SA.
The presentations are posted in www.intracom.com.
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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