Athens Water and Sewerage : FISCAL YEAR 2016 FINANCIAL RESULTS

• Turnover of the Company increased by 1.4%, to 328.8 million euro compared to 324.2 million euro in 2015
• Increased EBITDA* by 4.2%, to 87.3 million euro from 83.8 million euro in 2015.
• Increased EBIT* by 14.2% to 49.9 million euro from 43.7 million euro in 2015.
• Proposed dividend of 0.11 euro per share
Fiscal year of 2016 confirmed yet another year, the steady and profitable growth of the Company, marked by the effective support on financially sensitive groups affected by the economic crisis.
Specifically, the turnover of the Company amounted to 328.8 million euro compared to 324.2 million euro in 2015, increased by 4,6 million euro (+1.4%). In total, regarding its main operations (water supply and sewerage services), the Company posted an increase of 5.5 million euro (+1.7%) in revenues, confirming the reliable operational efficiency.
Company's earnings before taxes, financing and investing results, depreciation and amortization (EBITDA)* of the Company, increased by 3.5 million euro (+4.2%) amounting to 87.3 million euro from 83.8 million euro in 2015.
The Company's earnings before taxes, financing and investing results (EBIT)* increased by 6.2 million euro (+14.2%), amounting to 49.9 million euro from 43.7 million euro in 2015.
The after tax profits, amounted to 24.1 million euro versus 43.7 million euro in 2015. The financial result was significantly affected by the recognition of impairment loss of 18.1 million euro due to the reduction of the investment of the Company in Bank of Attica shares, as well as by the increase in income tax. It is worth noting that during the previous fiscal year 2015, the increase of the tax rate from 26% to 29% affected favorably the results of the year 2015 due to the deferred tax item amounting to 10.8 million € approximately.
EYDAP consistent towards its shareholders, with a constant annual dividend distribution, since its listing on the ASE, will propose to the General Shareholders Meeting, following the decision of the Board of Directors, a dividend of 0.11 euro gross per share, amounting to 11.715 million euro totally.

*Alternative Performance Measure- See section Alternative Performance Measurement Indicators in the Annual Financial Report 2016 that is posted on the corporate website www.eydap.gr.

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