- 14 February 2019
- Posted by: eyath-editor
- Category: Corporate announcements
PRESENTATION OF THE COMPANY UNDER THE TRADE
Today, Friday the 4th of June 2010, in the Thessaloniki Stock Exchange Centre at 16-18 Katouni Street, EYATH S.A was presented to financial analysts.
Issues regarding company operation were presented, as well as the financial results of the 31/12/2009. The company was presented by the Managing Director Nikos Papadakis and the Chairman Konstantinos Kamakas, and was also attended by members of the new management and higher executive members.
In particular, in the financial data unit, performance indicators were analyzed as well as financial indicators, operational expenses of EYATH S.A and basic financial data of the balance sheet and cash flows.
More particularly, for the fiscal year 2009 EYATH S.As turnover amounted to 77,376 million Euros as opposed to 75,919 million Euros in 2008, thus increasing by 1,92%. The slight increase in turnover is due to the freezing of water supply invoices and sewerage systems usage duties since the 1/5/2009 and the smaller number of new connections to the existing water supply- sewerage networks in 2009 in comparison to previous years.
Gross profit amounted to 30,322 million Euros as opposed to 31,108 million in the previous year, thus decreasing by 2, 53%. Pre tax earnings amounted to 22,093 million Euros as opposed to 22,017 million in 2008, thus increasing by 0, 34%. Net after tax earnings decreased by 4,88%, amounting to 14,390 million Euros as opposed to 15,128 million in the previous year, due to increased provisions for doubtful claims.
Cash flow increased by 17, 35% amounting to 15,166 million Euros as opposed to 12,924 million Euros in 2008 and the companys net worth increased by 10,19%, from 91,315 million Euros in 2008 to 100,622 million Euros, due to profitability in 2009.
EYATH S.As Managing Director, Nikos Papadakis, notes that The companys financial state is healthy and strong, showing high profitability and liquidity. Turnover remains stagnant due to the freezing of invoices and due to a non existent development policy to expand clientele. After tax earnings decreased due to increased provisions for doubtful claims consumer claims amount to 37 million Euros. The new management planning includes the expansion of activities, the decrease of claims and judicial abeyances as well as the dealing with any chronic company issues (such as maintenance and replacement of networks, sludge, an industrial waste processing unit, expansion of activities, personnel, etc).
We would like inform investors that the Company presentation will be posted on EYATH S.As website (www.eyath.gr).