Intracom Holdings Group registered a pretax profit of 5.5 million euros in the first half of 2024, it announced on Monday.
It also recorded a strong liquidity of 161.5 million euros, while total assets amounted to over 0.5 billion euros. The group’s portfolio value at the Athens and Copenhagen Stock Exchanges totaled 130 million euros on June 30, 2024.
In a statement, Intracom said the group’s basic priority is to develop its business planning, peaking with the strategic move to buy out ‘Europe Insurance’ company, which would expand the group’s portfolio and is expected to lead to a strengthening of its financial figures.
The acquisition of a 7.1% stake in Intralot through participation in AMK at the end of 2023, its further strenghtening during the first half of 2024, and its gradual strengthening with a current stake that surpasses 9.6%, as well as its stake in Intrakat and Optima, yielded, as expected, high returns.
Intracom President and CEO Sokratis Kokkalis commented, “We are moving at a fast pace in implementing the group’s new business plan, as presented at the company’s regular general assembly meeting in May. The merging of Intracom Properties with KLM (Kloukinas-Lappas) is fully developing, with the ultimate goal of acquiring Europe Insurance and creating a sizable entity that will substantially expand the group’s investment horizon and its activity areas, strengthen its financial figures, and add more value to the company and its shareholders. Our interest in the real estate sector remains high. Our choice to participate in the share capital of listed companies, with Intralot obviously in the lead, has proven once again a dynamic pillar of profit creating.”
