Page 27 - 2board23full
P. 27
Similarly to profitability growth, the company’s key
performance indicators demonstrate further improvement
in efficiency, cost leverage, productivity and value creation
compared to the previous year (Table 5.).
Profitability Based on the 007 financial results and taking into account
Total Income Tax charges of €.0 million, the Transfer
Depreciation charges amounted to €7.6 million, almost at to the Statutory Reserve of €4.7 million and the positive
prior year’s levels. The company’s operating profit, inclusive of impact of €.4 million due to the IFRIC 1 adoption, there
AIA’s share from ADF, reached €196.5 million in 007, higher remains a distributable profit of €91.4 million. The amount
by €7. million compared to the previous financial period. of €90.0 million has been proposed to be distributed to
The net financial expenses were €70.8 million, higher by €6.1 the shareholders as dividend, representing a 6% growth
million vs. 006. This increase is attributed to the recognition rate vs. the previous year.
of interest charges of €16.0 million related to the present value
at the Balance Sheet date of the company’s obligation to the Cash Flow
Greek State for the rights granted, the provision for major AIA retains a strong cash position, higher than the minimum
restoration expenses and the past due amounts receivable required level of debt service cover ratios, as these are
by trade debtors after the end of the coming financial year. defined in the loan agreements.
Excluding the aforementioned interest charges, during 007, Net cash flow from operating activities rose to €19.4
the actual interest expenses decreased, as a result of lower million, higher by €54.7 million than 006, due to the
interest on the EIB and Commercial Loans, due to their gradual company’s improved operating performance and an efficient
repayment and the higher interest revenue resulting from the collection policy. Net cash outflow for investing activities
efficient cash management. was €5.6 million, more or less at prior-year levels.
Profit before Tax reached the level of €15.7 million, higher by The net cash outflow for financing activities, i.e. the
€1.1 million, or .9% against the previous year. The income principal repayment of the EIB and Commercial Loans and
tax expense for 007 was €1.8 million, and profit after tax for the dividend payment, reached €14.8 million, higher
the year reached €94.0 million compared to €64.8 million in by €8. million versus the previous year, mainly due to
006. Table 5.1 presents a review of the Profit & Loss Statement increased dividend payments.
for 007 & 006. Following the application in 007 of IFRIC 1, As a result of these developments, the closing cash position
006 figures have been adjusted for comparison purposes. in 007 reached the amount of €176.8 million, increased
by €5.0 million compared to the previous year.
5
performance indicators demonstrate further improvement
in efficiency, cost leverage, productivity and value creation
compared to the previous year (Table 5.).
Profitability Based on the 007 financial results and taking into account
Total Income Tax charges of €.0 million, the Transfer
Depreciation charges amounted to €7.6 million, almost at to the Statutory Reserve of €4.7 million and the positive
prior year’s levels. The company’s operating profit, inclusive of impact of €.4 million due to the IFRIC 1 adoption, there
AIA’s share from ADF, reached €196.5 million in 007, higher remains a distributable profit of €91.4 million. The amount
by €7. million compared to the previous financial period. of €90.0 million has been proposed to be distributed to
The net financial expenses were €70.8 million, higher by €6.1 the shareholders as dividend, representing a 6% growth
million vs. 006. This increase is attributed to the recognition rate vs. the previous year.
of interest charges of €16.0 million related to the present value
at the Balance Sheet date of the company’s obligation to the Cash Flow
Greek State for the rights granted, the provision for major AIA retains a strong cash position, higher than the minimum
restoration expenses and the past due amounts receivable required level of debt service cover ratios, as these are
by trade debtors after the end of the coming financial year. defined in the loan agreements.
Excluding the aforementioned interest charges, during 007, Net cash flow from operating activities rose to €19.4
the actual interest expenses decreased, as a result of lower million, higher by €54.7 million than 006, due to the
interest on the EIB and Commercial Loans, due to their gradual company’s improved operating performance and an efficient
repayment and the higher interest revenue resulting from the collection policy. Net cash outflow for investing activities
efficient cash management. was €5.6 million, more or less at prior-year levels.
Profit before Tax reached the level of €15.7 million, higher by The net cash outflow for financing activities, i.e. the
€1.1 million, or .9% against the previous year. The income principal repayment of the EIB and Commercial Loans and
tax expense for 007 was €1.8 million, and profit after tax for the dividend payment, reached €14.8 million, higher
the year reached €94.0 million compared to €64.8 million in by €8. million versus the previous year, mainly due to
006. Table 5.1 presents a review of the Profit & Loss Statement increased dividend payments.
for 007 & 006. Following the application in 007 of IFRIC 1, As a result of these developments, the closing cash position
006 figures have been adjusted for comparison purposes. in 007 reached the amount of €176.8 million, increased
by €5.0 million compared to the previous year.
5
