Edrasis has been in the forefront of the construction industry, since its establishment, some fifty years ago. This has been achieved through the high degree of specialization exhibited in every field of practice pursued, flexible organization, continuous training of its experienced personnel and state-of-the-art equipment.
The financial crisis of the past couple of years has had serious implications on the Greek construction industry. In the case of Edrasis, this is clearly reflected by the 2008 fiscal results.
As shown in the 2008 balance sheet, turnover for Edrasis was €80.7 million whereas the corresponding Group figure rose to €108.15 million.
TURNOVER (Amounts in thousands of euro)
The 2008 results were negative, due to the financial crisis that has resulted in a drastic shrink in the overall construction business, while some operating costs proved to be inelastic and could not be further reduced. Under these circumstances, Edrasis showed a loss of €8.3 million, the Group’s figure being €7.5 million.
NET EARNINGS (Amounts in thousands of euro)
Owner-occupied tangible assets plus investment property for 2008 was €99.6 million for Edrasis and €111.6 million for the Group.
FIXED ASSETS (Amounts in thousands of euro)
Total equity remains high, at €53.4 million for Edrasis and €55.9 million for the Group.
OWN CAPITAL (Amounts in thousands of euro)