The financial results of Space Hellas Group 2017 reflect continuous growth of both sales and profitability. At the same time, the effort of expanding Space Hellas Group's operations abroad is continuing through the implementation of projects that utilize the skills and the added value of Space Hellas.

The consolidated turnover of Space Hellas for 2017 was amounted to € 59.7 million, compared to € 48.2 million in 2016 recording an increase of 23,8%.

Gross profit increased to € 14.2 million in 2017 compared to € 13.1 million in 2016, an increase of EBITDA of € 4.8 million in 2017 compared to € 4.3 million in 2016. Earnings before tax increased by 18% to € 1,652 thousand in 2017 compared to € 1,401 thousand in 2016 and earnings after taxes increased to € 1,114 thousand in 2017 compared to € 900 thousand in 2016.

In addition, emphasis is placed on generating free cash flows that are necessary to serve the group's investment plans proving the effectiveness of our business strategy. The free cash flow of 2014-2016 allowed us to fund investment plans in 2017 while maintaining high liquidity levels.

In the meantime, the company paid a dividend of 0,03 euro per share within 2017 for the fiscal year 2016.  The board of directors shall propose to the General Meeting of the shareholders the amount of 0,07 euro per share for the fiscal year of 2017, as distribution derived from Subsidiary's dividends.

The Group's net borrowing amounted to € 10,1 million and the  EBITDA being € 4,8 million, leads to NET DEBT / EBIDTA ratio 2.1 times.

Maintaining the necessary liquidity to serve the Group's growth continues to be the primary objective. This is achieved due to the profitability increase as well as the high level of bankability of Space Hellas.

The workforce of the company has dynamically increased, reaching 310 people compared to 210 in 2014.

Large scale projects of private and public sector are expected to start within 2018.

The company has been investing steadily in the field of ICT systems and software solutions.

In conclusion, the group objective is to maintain profitability while increasing in Greece and abroad, its market share in the private sector and participating in all major turn-key projects of the public sector in Greece and abroad where the company holds significant know-how and expertise.