Greek Ellaktor's wind segment net profit jumps 61% Y/Y
Sep 3, 2012 - Ellaktor (ATH:ELLAKTOR), Greece's biggest construction group, on Friday reported a net profit from its wind farm business of EUR 2.1 million (USD 2.6m) for the first half of 2012, up by 60.8% on the year.
Earnings before interest and tax (EBIT) jumped by 87.2% to EUR 8.5 million.
Revenue grew 53.4% year-on-year to EUR 15 million. At the end of June Ellaktor had 149 MW of installed wind power capacity and 81 MW under construction. The company noted that the development of additional renewable energy projects had been hit by lack of financing.
Ellaktor's consolidated net profit amounted to EUR 9.7 million, against a loss of EUR 24.3 million a year earlier. Revenue fell 14.1% to EUR 596.5 million as a result of weaker revenues at the construction segment.