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Financial results

In 2007 the consolidated operating profits were EUR 225.2 million and the operating costs EUR 212.8 million. The consolidated profit after tax was EUR 17.1 million. The equity capital at the end of 2007 was EUR 145.1 million. With this consolidated net profit the Indaver group realised a return on equity capital of 13.5 % over 2007, despite the continuing efforts and costs of growth. By reserving the profit realised in full and by further reducing its debt, Indaver was able significantly to improve its financial structure. Indaver thereby also strengthens its future possibilities for development and further growth.

 

 

Key figures for 2007 compared to 2006

  • Operating profit: EUR 225.2 million (+1.4 %), the further growth of the activities fully compensated the effect of the disinvestments implemented.
  • Operating costs: EUR 212.8 million (+3.7 %), partly through investments in further growth.
  • Operating result (EBIT): EUR 12.5 million (–26.3 %), attributable to non-structure impairments in comparison to a number of one-off returns in 2006 and incompletely capitalised development costs for new projects.
  • Net financial result: EUR 1.2 million, an increase by EUR 3.5 million in relation to 2006 (EUR –2.3 million), mainly thanks to a significant decrease in the financial costs.
  • Net contribution to minority participations and 50 % joint ventures (including SLECO and SVEX): EUR 4.7 million, an increase by EUR 4.9 million compared to EUR –0.2 million in 2006, mainly due to an improvement of the results at SLECO.
  • Group profit before tax: EUR 18.8 million (+9.1 %).
  • Group profit after tax: EUR 17.1 million (+48.9 %), partly as a result of writing back provisions for taxes over previous years and valorisation of future tax savings.

General explanation

In 2007 the valuation rules were adjusted to bring them fully in line with the valuation rules applied with the new principal shareholder DELTA nv. The change relates to the presentation of the consolidated results. The results of the companies in which Indaver has a 50 % holding, will from now on be added using the movement of equity method: this means based solely on their contribution to the net results of the Indaver Group. The figures for the 2006 financial year were adjusted in the same way, in order to make a correct comparison possible. Account must also be taken in the comparison of the consolidated results of 2006 and 2007 with the fact that the results from the first half of 2006 from the activities in Switzerland were still included to the consolidated profit and loss account for 2006.