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IKTINOS HELLAS S.A. 2006

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Financial results 2011

29.03.2012

In 2011 IKTINOS HELLAS S.A. showed an increase of 24% in the turnover and 67% in the profits compared to 2010. The marble exports increased to the 47,01% for 2011 compared to 2010, while the exports are already 86,5% of the company’s turnover.  This increase is due to the good sales policy pursued by the company, by turning to exports while adopting a more conservative policy on the internal market by selective sales in order to ensure the demands of the local customers.  Regarding the parent company, the turnover has increased by 24% and amounted to 27.364m€ compared to 22.066m€ of the previous year, and the profits before tax amounted to 5.229m€ compared to 2.367m€ of the previous year, showing a 66,6% increase. Respectively, in consolidated basis, turnover has increased by 27% and amounted to 29.485m€ compared to 23.212m€ of the previous year, and the profits before tax amounted to 2.815m€ compared to 1.581m€ of the previous year, showing a 78% increase. IKTINOS HELLAS S.A. is a pioneer in the marble industry in Greece, with great international activity, a vertically integrated company with privately owned marble quarries in which are extracted the popular GOLDEN SPIDER marble, the total white THASSOS, and the semi white VOLAKAS and NESTOU, with cutting and processing factories, a local sales network and an ever growing sales network abroad, stores and expertise to applications and to innovative architectural solutions. In wind energy sector, the Group is activated through its 100% fully owned subsidiary company IDEI S.A., which is already operating its first wind farm Megalovouni of nominal power 19,8MW to the municipality of Paranesti, of the prefecture of Drama. Also, IDEI S.A. has an installation license for a wind farm of nominal power 8MW in the area Synora to the municipality of Paranesti, of the prefecture of Drama, which is expected to operate in 2013. Furthermore, IKTINOS HELLAS S.A., pursuant to its program for the dynamic presence in the Renewable Energy, has created the following 100% fully owned subsidiaries companies:
a) EOLIKI MEGA ISOMA S.A. which manages the W/F MEGA ISOMA 24MW, in the Prefecture of Fthiotida,
b) EOLIKH MAVROLITHARO S.A. which manages the W/Fs MAVROLITHARO I 18MW & MAVROLITHARO II 10,8MW, in the Prefecture of Grevena, c) EOLIKI LYKOFOLIA S.A. which manages the W/F LYKOFOLIA 9 MW, in the Prefecture of Drama. All the above projects have already production licenses and they are in process of issuing the environmental licenses in order to acquire the installation license.   Overall, the Group has:

a)       Wind Farms in Operation                                  19,8        MW

b)       Wind Farms under Construction                       8,0         MW

c)       Wind Farms with Production License             61,8        MW

Total                                                                               89,6        MW

Finally, in the real estate sector, the Group is activated through the Cyprus company Latirus Enterprises Ltd, in which IKTINOS HELLAS S.A. has a 20,3% percentage. Latirus Enterprises develops (through its participation in IKTINOS TECHNICAL & TOURISTIS S.A.) a project in Siteia of Crete for the construction of a tourist facility, a conference center, a thalassotherapy center, a marina for leisure crafts, a golf course and also two residential areas in cooperation with Dolphin Capital Investors Company. At last, in the company’s Extraordinary General Meeting of the shareholders, it was decided the amendment of the purpose of the company and expansion of its activities in production and trading of agricultural products in order to export them.


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