Intrakat passes positive EBITDA for the third quarter – Revenue increase in the nine months

Intrakat went to positive EBITDA for the third quarter (although it remains negative for the whole nine months), which in the first 9 months of 2021 recorded an increase in revenue on an annual basis.

More specifically, based on the announcement of the company, “the sales of the INTRAKAT Group in the nine months of 2021 amounted to € 140.3 million compared to € 127.6 million in the corresponding period of 2020, according to an announcement by the company.

The Group’s EBITDA amounted to losses of € -3.1 million against profits of € 375 thousand and EBIT to losses of € -6.76 million against losses of € -2.5 million in the corresponding period of 2020.

Especially for the third quarter of 2021, the Group’s sales amounted to € 53.3 million compared to € 40.6 million in the corresponding period of 2020, EBITDA to profits of € 2.66 million against losses of € -2.36 million and EBIT at a profit of € 1.47 million against losses of € -3.19 million in the corresponding quarter of 2020.

The bank lending of the Group on 30.09.2021 amounted to € 103 million compared to 88.3 million on 31.12.2020. The above loan includes a bank loan of € 25.8 million which has been taken to finance investments, namely € 21.4 million in Wind Energy and € 4.4 million in Real Estate.

The Group’s equity amounted to € 57 million. The effect of the absorption of GAIA ANEMOS SA, which ended on 29.07.2021, in the Group’s equity amounted to € 17 million.

The new works contracts signed by the Group in the first nine months of 2021 amount to € 194 million. The outstanding balance of the Group’s contracts on 30.09.2021 amounted to € 419 million, while to date the Group has bid on additional projects amounting to € 382 million for which it expects their contracting procedures to be completed.

The Management of the INTRAKAT Group throughout the health crisis of COVID19, with the required actions and measures it takes, tries to ensure the working environment for its administrative and technical staff as well as for its direct associates (subcontractors, suppliers, etc.). ). At the same time, it focuses on securing the necessary resources, so that the activity and the financial figures of the INTRAKAT Group suffer the least possible losses due to the pandemic crisis.

It is clarified that the measures taken to curb the spread of the pandemic and consequently the rise in prices of raw materials worldwide, create an additional significant burden on the cost of production of technical works. The acceleration of the tender program for mature projects that is underway by the State in the context of the financing of European support programs (FTA and Development Fund programs), as well as the introduction of a project price review process, will immediately address the problem of production of completed projects. and will improve the results of construction companies.

Important events in 9M 2021 and Group prospects

Infrastructure projects

• The works of the project “Construction of a Quadruple Railway Corridor in the section” Exit of SS. Athens (SSA) – Three Bridges with undergrounding in the area of ​​Sepolia “on behalf of ERGA OSE SA with a budget of € 83.8 million.

• In progress the construction of the project “Design, supply, transport, installation and commissioning of one (1) wind farm with a total capacity of 27 mw and one (1) center of high voltage 400/20 kv, power 100 mva” on behalf of PPC + 1.95% RENEWABLE, with a total budget of € 43 million.

• The project “Settlement of Eschatia Stream, Department from the junction of Efpyridon pipeline to Parnithos Avenue” is in progress “on behalf of YPOMEDI, with a total budget of € 36.7 million.

• The project “Wind Station” FRAGAKI “in progress on behalf of the GREEK WINDPOWER subsidiary by 100% of INTRAKAT, with a total budget of € 24 million which is expected to start operating in 2022.

• In progress the works of the project “Design, supply, construction, installation, testing & commissioning of two branches of conveyors and E / M equipment at the Ptolemaida facilities” on behalf of PPC + 1.95% SA budget € 25.6 million .

• Signing and start of construction of the Paphos – Polis Chrysochous Motorway € 73 million in Cyprus

• Signing and start of construction of 2 projects in Romania concerning the expansion of water supply, sewerage and sewage pumping stations with a budget of € 19.6 million

• Signing and start of construction of the project Aigialeia Sewage Sewerage Networks € 24.4 million.

• Signing of an agreement for the construction of a hotel complex in Kalo Livadi, Mykonos, with a budget of € 67 million.

PPP projects

The Group has submitted bids in the context of tenders for PPPs and Concessions projects and has been pre-selected in tenders with a total value of € 2.5 billion. The most important of these are:

1. Road axis Kalamata-Rizomylos – Pylos- Methoni pre. € 252 million

2. Flyover Peripheral Thessaloniki prep. € 373 million

3. GGDE Building. Erection of Building facilities for the housing of the services of the General Secretariat of Infrastructure, budget. € 112 million

4. MEA Western sector PKM Thessaloniki (Waste Treatment Unit), pre. € 142 million

5. 7 Centers of Civil Protection, area A, pre. € 70.8 million

6. 6 Centers of Civil Protection, area B, pres. € 60.7 million

7. Building of the Academy of Athens, pres. € 71.8 million

8. Havria Dam. Water treatment facilities & networks, budget € 85.4 million

9. MEA Fili (Waste Treatment Unit), pre. € 386 million

10. MEA Schistou (Waste Treatment Unit) pres. € 253 million

11. Court Houses of Central Macedonia (Serres, Edessa & Kilkis), pres. € 120
million

12. 17 school units in the Region of Central Macedonia, pres. € 128.4 million

13. Student dormitories of the University of Thrace, pres. € 107 million

14. Student dormitories of the University of Thessaly € 94 million

15. Student dormitories of the University of Crete € 206 million

Real Estate Projects

In the field of Real Estate, the Group after the successful strategic cooperation for the development in Mykonos of a Resort Hotel with the international group LNR and the completion of the first world 5 star hotel & restaurant “Xenodocheio Milos” in Athens, will proceed to strategic collaborations for the creation investment products in the field of tourism infrastructure development in high end destinations and areas of high business interest.

RES Energy Projects

From the portfolio of wind and photovoltaic park licenses available to the Group and its total power exceeds 1 GW

1. the wind farm “Frangaki”, power 15MW, will be put into operation in 2022.

2. The “Kastri” Wind Farm, with a capacity of 5MW, will be put into operation in mid-2022 and has secured a 20-year contract for the sale of energy produced through a RAE tender.

3. for the Wind Parks at the sites “Zygourolivado” with a power of 41.4 MW and “Karkaros” with a power of 36MW respectively, the licensing process has been completed and they have also secured through a RAE tender a 20-year contract for the sale of energy produced at a fixed sale price. Their construction is expected to start in 2022 with the aim of operating at the end of 2023 the A / P “Karkaros” & within 2024 the A / P “Zygourolivado”

4. Wind and Photovoltaic Parks with a power of 400MW will complete their licensing process within the two years 2022-2023 and will be gradually constructed and put into operation. Of these, Wind projects with a total capacity of 77 MW are of advanced maturity, which have already completed their environmental licensing and have secured final terms of connection with IPTO. They have the opportunity and will participate in the next RAE tender to ensure a stable selling price of the energy produced

5. Also, Wind Farms with a capacity of approximately 634 MW have already received producer certificates from RAE and are in the process of preparing all the necessary energy measurements and studies for their environmental licensing.

6. Finally, RAE decisions were issued for the issuance of licenses for 6 power stations using Storage Accumulators (Storage) in Thisvi, Boeotia, with a total capacity of 496.6MW, lasting 35 years and with an estimated start of construction in 2023.