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| 30/08/2010 |
GEK TERNA HOLDING, REAL ESTATE, CONSTRUCTION S.A.
S & B INDUSTRIAL MINERALS S.A.
TERNA ENERGY S.A.
S & B INDUSTRIAL MINERALS S.A.
GR. SARANTIS S.A.
EUROBANK PROPERTIES REIC
KLEEMANN HELLAS S.A.
TERNA ENERGY S.A.
PUBLIC POWER CORPORATION SA
FRIGOGLASS S.A.
TERNA ENERGY S.A.
KORRES NATURAL PRODUCTS
Info-Quest S.A.
Á×ÏÍ S.A. HOLDING
ALUMIL ALUMINIUM INDUSTRY S.A.
SPACE HELLAS S.A.
HELLENIC TELECOM. ORG.
PETZETAKIS S.A.
M. J. MAILLIS S.A.
SIDMA S.A. STEEL PRODUCTS
MOTOR OIL (HELLAS) CORINTH REFINERIES SA
MYTILINEOS HOLDINGS S.A.
HELLENIC DUTY FREE SHOPS S.A.
MARFIN INVESTMENT GROUP HOLDINGS SA
GR. SARANTIS S.A.
EFG EUROBANK ERGASIAS SA.
PIRAEUS PORT AUTHORITY SA
HELLENIC EXCHANGES S.A.
GEK TERNA HOLDING, REAL ESTATE, CONSTRUCTION S.A.
M. J. MAILLIS S.A.
EFG EUROBANK ERGASIAS SA.
GEK TERNA HOLDING, REAL ESTATE, CONSTRUCTION S.A.
BANÊ OF CYPRUS PUBLIC COMPANY LTD
MINOAN LINES SA
SCIENS INTERNATIONAL INVESTMENTS AND HOLDINGS SA
FOLLI - FOLLIE S.A.
SFAKIANAKIS S.A.
ELBISCO HOLDING S.A.
BANÊ OF CYPRUS PUBLIC COMPANY LTD
HERACLES GENERAL CEMENT COMPANY S.A.
ELMEC SPORT S.A.
BANÊ OF CYPRUS PUBLIC COMPANY LTD
GR. SARANTIS S.A.
MINOAN LINES SA
PROTON BANK S.A.
HERACLES GENERAL CEMENT COMPANY S.A.
NIREUS S.A.
Forthnet S.A.
HELLENIC FABRICS S.A.
HELLENIC FABRICS S.A.
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GEK TERNA HOLDING, REAL ESTATE, CONSTRUCTION S.A. : PURCHASE OF TRAESURY SHARES
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GEK TERNA S.A. informs the investors that, in compliance with article 4 par. 4 of the Regulation no. 2273/2003 of the Commission of the European Communities and according to article 16 of the Codified Law 2190/1920, as amended and currently in force, as well as by virtue of the Decision of the Regular General Assembly of its Shareholders dated 12.05.2010 and the Decision of the Board of Directors dated 22.06.2010, proceeded on August 27, 2010 through the member of the A.S.E. FORTIUS FINANCE S.A., with the purchase of 2,276 GEK TERNA's shares at an average price of 4.3532 euros per share and at with a total transaction value of 9,907.84 euros.
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S & B INDUSTRIAL MINERALS S.A. : Share Buy back.
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S&B Industrial Minerals S.A. announces in accordance with article 4 par.4 of Commission Regulation no 2273/2003 of the European Communities, that the Company has proceeded to the purchase of own shares, pursuant to the decision of the Annual General Meeting of Shareholders dated 17th June 2010 and the resolution of the Board of Directors dated 17th June 2010, as follows :
On 27.08.2010, the Company purchased 165 shares, with an average purchase price Euro 4,00 per share and a total purchase price Euro 660,00.
The above 165 shares were purchased through Alpha Finance.
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TERNA ENERGY S.A. : Purchase of own shares
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TERNA ENERGY S.A. informs the investors that, in compliance with article 4 par. 4 of the Regulation no. 2273/2003 of the Commission of the European Communities and according to article 16 of the Codified Law 2190/1920, as amended and currently in force, as well as by virtue of the Decision of the Regular General Assembly of its Shareholders dated 12.05.2010 and the Decision of the Board of Directors dated 22.06.2010, proceeded on August 27, 2010 through the member of the A.S.E. FORTIUS FINANCE S.A., with the purchase of 9,000 TERNA ENERGY's shares at an average price of 3.4544 euros per share and at with a total transaction value of 31,090.00 euros.
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S & B INDUSTRIAL MINERALS S.A. : Financial Results for the First Half of 2010 (IFRS).
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| Read the Press Release. |
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GR. SARANTIS S.A. : Purchase of own shares
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| In effect of the article 4, paragraph 4 of the 2273/2003 Regulation of the European Commission, the company GR. SARANTIS S.A. announces that according to article 16, Law 2190/1920, and based on the resolution of the Shareholder's Ordinary General Meeting which took place on the 30/06/2010, during the trading session of 27/08/2010, acquired 4,500 own shares through "INVESTMENT BANK OF GREECE S.A." at a price of 3.73 euro per share worth of 16,765 euros.
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EUROBANK PROPERTIES REIC : Announcement of acquisition of own shares.
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In accordance with Regulation of the Committee of European Community no 2273/2003, article 4, par.4, Eurobank Properties REIC ("the Company") announces that following the decision of the Annual General Meeting of the Shareholders of the Company (dated March 16th, 2009) and the Board of Directors' resolution (dated March 16th, 2009), purchased, own shares through the Athens Exchange Member Eurobank EFG Securities Investment Firm S.A. as follows:
On August 27, 2010 the Company purchased 5.700 shares, with average price €5,82 per share and total purchase price €33.180. |
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KLEEMANN HELLAS S.A. : Results 2Q 2010
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The Kleemann Group, as a response to the economic crisis and the reduction of domestic demand, proceeded during the first half of 2010 in establishing a Hong Kong based subsidiary company, opening up new and important markets abroad and increasing its share in the Greek market.
Indeed, the subsidiary in Hong Kong started its operations recently, under the name "HONG KONG ELEVATOR SYSTEMS LIMITED". Its objective is to penetrate in the region of Southeast Asia and Oceania. Furthermore, as a result of the particular emphasis that has been given to development across borders, the company, with a continually growing clientele, is currently activated in 59 countries in comparison to 52 in the corresponding half last year.
Finally, domestic sales have moved faster than expected and also in relation to the overall state of the industry, reflecting an increase of Group's market share in Greece. It must be mentioned that in the European market, the adverse weather conditions had led to a reduction of activity in some countries. However, the intensive promotional activities contributed significantly to the dramatic increase in sales -over 30% - in countries of Central and Eastern Europe.
FINANCIAL RESULTS OF FIRST SEMESTER 2010
Regarding the financial results of the first half of current year, in group level turnover amounted to 44.43 million euros against 47.97 million euros in the corresponding period in 2009, a decrease of 7.4%, while consolidated gross profit decreased by 7.6% from 16.47 million euros to 15.21 million euros. The fact of maintaining the gross margin stable is very positive, given the market conditions and the corresponding pricing policy that is applied. Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) declined from 7.72 million euros to 4.87 million euros and profit before tax for the first semester amounted to 3.16 million euros versus 6.05 million euros of the corresponding period of last year, showing a decrease of 47.8%. Finally, earnings after tax and minority interests decreased from 3.77 million euros to 1.05 million euros.
It is noted that the profit after tax of the group is charged with the amount of 0.88 million euros, relating to the special tax imposed on profitable companies under L.3808/2009. In addition, in the current period the group incurred higher provisions for doubtful customers and increased losses due to exchange rate differences. Without these facts, the profits would remain at 2009 levels. Particularly positive is also the fact of maintaining the enhanced cash flows, which is the result of satisfactory profitability and excellent management of the business cycle.
Regarding the markets in which the foreign subsidiaries operate, the Turkish market has an impressive growth (sales growth of 35%), which is reflected in the financial results of Kleemann Asansor. In Serbia and Romania, some signs of slowing down are evident due to the greater effect of the global financial crisis on the economies of these countries. However, the dynamics of these markets remains strong and the group sees signs of growth in the near future.
According to management of the quoted company, the geographic dispersion of sales and the range of products and services offered enable the group to look to the future with optimism.
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TERNA ENERGY S.A. : IR report
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The company TERNA ENERGY S.A. announces that the IR REPORT with the Ç1 2010 financial results will be posted on its website, www.terna-energy.gr and on ASE's website www.athex.gr.
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PUBLIC POWER CORPORATION SA : Comment on Press Article
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Following a relevant request by the Capital Markets Committee following certain articles in the press, PPC S.A. informs the investors' community that, as mentioned also in the presentation of the 1st half 2010 results, and in line with its strategic priorities, which include investments in renewables in excess of € 2 billion until 2015, PPC examines various partnerships with companies that are active in the field of renewables.
Under this framework, PPC is also evaluating potential joint development of photovoltaic projects in the Western Macedonia region. Up to date, no definite decision has been taken with respect to the size of the project and the amount of the investment as well as of the terms of the potential cooperation.
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FRIGOGLASS S.A. : Ánnouncement of Share Buy Back
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Frigoglass S.A announces, in accordance with the provisions of art. 4 par. 4 of the European Commission Regulation 2273/2003, that by implementation of the decision of the Extraordinary General Meeting of 5th of September 2008 and the resolution of the Board of Directors of 2nd October 2008, it purchased on 27th ïf August 2010 through Investment Bank of Greece 7.000 own shares with average purchase price of Euro 8,80 per share and total purchase price Euro 61,615.
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TERNA ENERGY S.A. : 1ST Half 2010 Results
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According to the financial statements of 30/06/2010, which were prepared in accordance with the International Financial Reporting Standards, the results for the 1st half of 2010 of TERNA ENERGY are as follows:
Consolidated sales amounted to 28.7 mn euro compared to 28.8 mn euro during the 1st half of 2009, remaining at the same level.
Income from the energy sector amounted to 16.4 mn euro compared to 15 mn euro the 1st half of 2009, increased by 9.4%.
Sales of the company's construction sector for third parties amounted to 12.3 mn euro, compared to 13.8 mn euro the respective period of 2009, posting a decrease of 9.6%.
Earnings before interest tax depreciation and amortization (EBITDA) amounted to 9.8 mn euro compared to 12.4 mn euro the 1st half of 2009, thus decreased by 21.6% compared to the respective period last year, mainly due to the reduction in earnings of the construction segment. EBITDA from the energy segment amounted to 8.9 mn compared to 9.2 mn in the 1st half of 2009, posting a 3.2% decrease as a result of increased expenses from the company's effort to expand its foreign activities. EBITDA from constructions amounted to 0.8 mn euro compared to 3.2 mn during the respective period of 2009, posting a 75% decline.
Earnings before interest and tax (ÅÂÉÔ) amounted to 6.4 mn euro, decreased by 30% compared to 9.2 mn euro during the 1st half of 2009. Correspondingly, earnings before tax were affected by the lower interest income and amounted to 7.4 mn euro compared to 12.6 mn euro during the respective period of 2009, thus posting a decrease of 40.9%. Net earnings after minority interest, amounted to 2.9 mn euro compared to 9.3 mn euro the respective period of last year, thus decreased by 67.8%, with a significant negative effect from the windfall tax imposed on profitable companies.
The Group's investments amounted to 49 mn euro for the first half of 2010, as the investment plan is proceeding.
Cash flows from operating activities during the 1st half amounted to 25.4 mn euro compared to 15 mn euro during the respective period of 2009, while the Group's net cash position (cash & cash equivalents minus bank debt) amounts to 22.7 mn euro. The Group maintains exceptional liquidity, as its cash & cash equivalents amount to 214.5 mn euro.
TERNA ENERGY operates a capacity of 148.6 MW in RES facilities in Greece. Recently the company initiated the construction of four additional wind parks with a total capacity of 68 MW in Greece and in foreign countries, with the total capacity under construction now reaching 252 MW, which are expected to be installed gradually during the next quarters. The company has production licenses for additional 595 MW of wind parks and 125 MW hydroelectric projects in Greece, while it has submitted applications for production licenses that exceed 4,500 MW.
In Eastern Europe, the company is currently constructing two wind parks in Poland, with a capacity of 32 MW and two wind parks in Bulgaria, with a capacity of 30 MW.
Overall, the company operates or is currently constructing 400 MW in RES facilities in the European area.
Information:
Investor Relations: Aristotelis Spiliotis, tel + 30 210 69 68 431, tspiliotis@terna-energy.gr
Press Office & Public Relations: Konstantinos Lambrou, tel + 30 210 6968445, prkl@gekterna.gr
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KORRES NATURAL PRODUCTS : Conference Call - Presentation
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| Conference Call - Presentation
Consolidated Financial Results |
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Info-Quest S.A. : Purchase of own shares
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| Info-Quest S.A. informs the investors that, according to article 16 of the Codified Law 2190/1920, as amended and currently in force, and in compliance with the terms of the Regulation no.2273/2003 of the Commission of the European Communities, as well as by virtue of the Decision of the Regular General Assembly of its Shareholders dated 16/04/2010 and the Decision of the Board of Directors dated 10/05/2010, proceeded on August 27, 2010 through the member of the A.S.E. "Eurobank EFG Securities", with the purchase of 1.200 Info-Quest S.A. shares at an average price of 1.08 euro per share and with a total transaction value of 1.300,99 euro.
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Á×ÏÍ S.A. HOLDING : Release of HY 2010 financial results.
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| AXON HOLDINGS S.A. hereby informs the investing public and shareholders that the condensed Interim Financial Statements of the Company for HY 2010, shall be published in the newspaper KERDOS on Tuesday, August 31, 2010. The aforementioned statements shall also be posted, on the same day, on the website of the Athens Exchange (www.athex.gr) and the Company's website www.axonholdings.gr |
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ALUMIL ALUMINIUM INDUSTRY S.A. : First Half 2010 Financials' Announcement
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"ALUMIL ALUMINIUM INDUSTRY S.A." administration announces stabilization in sales and significant improvement in gross profitability for the first half of 2010. In particular, Group presented decrease in sales by 0.6%, reaching € 95.1 m., compared to € 95.7 m. in 1H 2009.
Gross profits increased by approximately 23.4%, reaching € 21.6 m., compared to € 17.5 m. in 1H 2009, while EBITDA, increased by 193.3%, reaching € 9.7 m., compared to € 3.3 m. for 1H 2009. Losses before taxes reached € 500 thousand, compared to 1H 2009 (losses € 9.2 m.). Consequently, losses per share reached € 0.0939 (Losses € 0.4233 for 1H 2009).
The significant improvement in gross profitability is due to the fact that during the corresponding period in 2009, the company used expensive raw material (from the execution of purchase contracts of 2008), and to the reduction in production cost, brought about by the Administration?s effort to adapt to the new economic environment.
The significant improvement of results is mainly attributed to the increase in gross profit, in the reduction of operating costs after a concerted effort by the Administration, and the reduction in financial expenses due to reduced bank lending and loan restructuring.
Regarding parent company financials, 1H2010 turnover slightly decreased by 0.2%, to € 67 m., compared to € 67.1 m. in 1H 2009. EBITDA significantly increased, reaching approximately € 5.4 m., compared to 1H 2009 (minus € 2.6 m. approximately). Losses before taxes reached approximately € 737 thousand, compared to 1H 2009 (losses € 9 m.) and net results after taxes reached minus € 413 thousand, compared to 1H 2009 (losses € 7 m.).
Data and Information of the Financial Statements are published on Monday, August 30th, 2010, in the Hellenic financial newspaper "IMERISIA".
Aforementioned data are also available in the Alumil web site, www.alumil.com, along with the complete Financial Statements' report and the corresponding announcements.
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SPACE HELLAS S.A. : Announcement
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| Space Hellas S.A. announces that the Financial Reports, the Financial Data and Information for the 1st Half 2010 results according to the International Accounting Standards (IAS) will be released on the 31th of August 2010 and will be available for the investors on our website www.space.gr and on the website of the Athens Stock Exchange www.ase.gr |
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HELLENIC TELECOM. ORG. : Announcement of regulated information.
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OTE filing for delisting from the NYSE
Athens, Greece - August 30, 2010 - On May 12, 2010 Hellenic Telecommunications Organization SA (ASE: HTO; NYSE: OTE) announced its intention to delist its American Depositary Shares ("ADSs") from the New York Stock Exchange ("NYSE") and to terminate its registration and reporting obligations under the U.S. Securities Exchange Act of 1934.
Today OTE provided written notice to the NYSE of its intention to apply for the delisting of its ADSs from the NYSE. OTE expects to file Form 25 on or about September 9, and delisting to become effective on or about September 20. Following delisting from the NYSE and upon meeting the criteria for termination of registration, and in compliance with applicable rules and regulations, OTE intends to file a certification on Form 15F with the U.S. Securities and Exchange Commission ("SEC") to terminate the registration of its equity securities.
OTE also intends to establish and maintain an American Depositary Receipt program on a so-called "Level I" basis in order to enable investors to trade ADSs in the US over-the-counter (OTC) market.
OTE will update investors on developments with regard to the process of delisting and deregistration of its ADSs.
Each ADS represents one half ordinary share of OTE.
INVESTOR RELATIONS
Ôel. +0030 210-611-1574
E-mail: dtzelepis@ote.gr
Fax: +0030 210-6111030
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PETZETAKIS S.A. : Announcement
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| Aristovoulos G. Petzetakis S.A. announces that it has been informed from the new investor that within the next twenty days the transfer of bonds owned by foreign bondholders to the new investor will be materialized with simultaneous injection of capital for the strengthening of its capital structure. |
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M. J. MAILLIS S.A. : Press release
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| See company's announcement. |
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SIDMA S.A. STEEL PRODUCTS : Press Release - Financial Results for the First Semester of 2010
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Despite the general financial crisis in the market, which is affecting the steel products sector, SIDMA?s financial results for the second quarter of 2010 are improved, compared to the same period last year. The figures remain negative, though . Exceptions are its subsidiaries in the Balkans that demonstrated a turnover increase, thus justifying the company?s strategy for international expansion.
At Group level, the turnover amounted to 62.4 million euro compared to 61.1 million euro in the first Semester of 2009, thus registering a 2% increase. Counting in the companys sales on behalf of third parties (agency) during the first Semester of 2010, these amounted to 83.6 million euro, compared to 81.3 million euro during the first Semester of 2009, thus registering a 3% increase. Earnings before interest and tax were equal to profits of € 0.8 million compared to losses of 10.1 million euro over the respective last year period. Earnings before taxes stood at losses amounting to 4.2 million euro, significantly decreased compared to losses of 14.9 million euro over the respective last?year period, while post tax results stood at losses amounting to 3.4 million euro, compared to losses of 12.4 million euro, during the first Semester of the last year.
At Company level, the turnover of SIDMA S.A. came to 38.2 million euro compared to 39.1 million euro in the first Semester of 2009. Counting in the Companys sales on behalf of third parties (agency) during 2010, sales stood at 59.5 million euro compared to € 59.3 million during the first semester of 2009, thus remaining at the same level of last year. Earnings before taxes, financial results and investing, stood at profits amounting to 336 thousand euro compared to losses amounting to 9.1 million euro during the first Semester of 2009, while earnings before taxes were equal to losses of 2.4 million euro compared to losses of 11.5 million euro. Post tax results stood at losses amounting to 1.9 euro in comparison with losses of 9.4 euro over the respective last year period.
The subsidiaries in the Balkans increased their turnover by 11% in Bulgaria and 37% in Romania. Furthermore, their contribution to the Groups turnover increased to 33% in the first Semester of 2010, compared to 26% of the first semester of 2009, thus registering a 28% increase. It is noteworthy, that both companies managed to increase their market share, looking forward to an even greater improvement during the second semester of 2010.
According to the Management, the negative market conditions will be sustained throughout 2010, whilst demand will remain at low levels. As it has already done during the first semester of 2010, the company will continue implementing all appropriate measures in order to decrease its expenses, as long as such measures will not constitute hindrance for the companys development in a future market rally. A reduction in the Administrative and Distribution costs of 8.1% or 461 thousand euro has already been achieved compared to the respective last year period. In the context of a decrease in its expenses and an improved utilization of its real property, the company proceeded to the first phase of the relocation of the Aspropyrgos installations at Inofyta, aiming at completing the relocation and exploitation of the Aspropyrgos real estate in Q1 of 2011. Finally, a primary goal for the company remains to maintain its liquidity, by prudent administration of its reserves (reduced by 10% compared to the respective last year period) and reduced days of credit for the customers, who, despite the problems that the market is facing, they have remained for the time being at the same levels of 2009. The aim for the second semester of 2010 is their significant reduction.
The financial statements of the first semester are published in KERDOS newspaper on Tuesday, 31 August 2010.
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MOTOR OIL (HELLAS) CORINTH REFINERIES SA : ANNOUNCEMENT OF BUSINESS DEVELOPMENTS
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MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. hereby announces the establishment jointly with the MYTILINEOS S.A. - GROUP OF COMPANIES of a company under the legal name "M and M NATURAL GAS S.A.", trade name "M & M GAS Co S.A." and the commencement of its operations.
The two partners will participate with a 50% stake each in the initial share capital of two million (2,000,000) Euros of the newly established company which will engage in the supply and trading of natural gas (in liquefied or other form).
The objective for the establishment of the company is twofold:
1. To fulfill the needs of the MYTILINEOS and MOTOR OIL Groups in natural gas under competitive economic terms
2. To sell natural gas to third parties
The company was registered in the Societes Anonymes Registry of Greek Companies on August 8th, 2010 and its headquarters will be located within the MYTILINEOS GROUP headquarters at Marousi (5-7 Patroklou str.).
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MYTILINEOS HOLDINGS S.A. : ANNOUNCEMENT OF BUSINESS DEVELOPMENTS
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MYTILINEOS HOLDINGS S.A. hereby announces the establishment jointly with the MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. of a company under the legal name "M and M NATURAL GAS S.A.", trade name "M & M GAS Co S.A." and the commencement of its operations.
The two partners will participate with a 50% stake each in the initial share capital of two million (2,000,000) Euros of the newly established company which will engage in the supply and trading of natural gas (in liquefied or other form).
The objective for the establishment of the company is twofold:
1. To fulfill the needs of the MYTILINEOS and MOTOR OIL Groups in natural gas under competitive economic terms
2. To sell natural gas to third parties
M and M NATURAL GAS S.A. is expected to contribute to the liberalization of the natural gas market and further more will help establish the conditions of healthy competition in the electricity production market
The company was registered in the Societes Anonymes Registry of Greek Companies on August 8th, 2010 and its headquarters will be located within the MYTILINEOS GROUP headquarters at Marousi (5-7 Patroklou str.).
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HELLENIC DUTY FREE SHOPS S.A. : First half 2010 financial results
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SIGNIFICANT INCREASE IN EBT AND EBITDA FOR PARENT HDFS
BY 9.7% AND 5.2% RESPECTIVELY
Consolidated Sales at €264.2 million and EBITDA at €39.2 million.
Consolidated results
Consolidated sales of HELLENIC DUTY FREE SHOPS S.A. for H1 2010 reached €264.2 million, compared to €268.1 million in 2009, a decrease of 1.5%.
Earnings before interest, taxes, depreciation and amortization (EBITDA) reached €39.2 million from €43.0 million, with the respective margin at 14.8%.
Consolidated earnings before taxes reached €22.8 million, from €25.8 million, while earnings after taxes and minority interests of the Group reached €11.5 million from €17.5 million, negatively affected by the one-off payment of social tax amounting to €4.8 million.
Finally, consolidated earnings per share reached €0.223 from €0.338.
The General Director of HDFS, Mr. George Velentzas, commenting on the results mentioned, "First half results must be considered positive having in mind the crisis prevailing in the Greek retail market. Special emphasis should be made to the performance of the parent HDFS, which significantly increased its profitability despite the decrease in sales, still remaining the most profitable company in the Travel Retail Industry."
Results of the Parent company
On a parent level, sales reached €93.0 million from €102.1 million, decreased by 8.9%, affected by the decline in outbound traffic during Q2 2010.
Despite the decline in sales, earnings before taxes increased by 9.7% reaching €21.6 million from €19.7 million. Net earnings after tax reached €12.3 million from €14.7 million, decreasing by 16.3%, negatively affected by the one-off payment of social tax amounting to €4.0 million. Should we exclude this one-off payment, for comparability reasons, then net earnings increased by 11.2% reaching €16.3 million.
Finally, earnings before interest, taxes, depreciation and amortization (EBITDA) reached €27.3 million from €26.0, increased by 5.2%.
HELLENIC DISTRIBUTIONS - LINKS
Consolidated sales of the subsidiary company HELLENIC DISTRIBUTIONS S.A. reached €47.8 million from €46.4 million, posting an increase of 3.2%, while EBITDA reached €5.7 million from €5.6 million, increasing by 3.5% with the respective margin remaining at 12.0%.
Earnings before taxes for the period reached €2.4 million from €2.3 million for 2009, increased by 6.8%.
The respective figures for LINKS for H1 2010 are sales of €37.4 million from €36.0 million, increased by 4.1%, and EBITDA of €3.6 million from €3.5 million increased by 4.3%.
Finally, consolidated net earnings for HELLENIC DISTRIBUTIONS reached €1.7 million from €1.8 million in 2009.
ELMEC
Consolidated sales of ELMEC in the first half of 2010 reached €125.7 million from €121.5 million, posting an increase of 3.4%, while EBITDA reached €6.2 million from €10.7 million.
Earnings before taxes reached €3.2 million from €8.1 million while earnings after taxes and minorities reached €1.9 million from €5.3 million.
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MARFIN INVESTMENT GROUP HOLDINGS SA : First Half 2010 Results
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- Readjustment of Net Asset Value (NAV) due to the deteriorating state and negative prospects of the Greek economy, which result in significant accounting losses.
- Company NAV stands at €2.463bn translating to a NAV per share of €3.24
- The Company maintains solid capital adequacy having a cash position of €570.4m at a time where mergers and acquisitions appear unavoidable.
For the First Half 2010, Marfin Investment Group (MIG) announced today losses after tax and minorities totaling €1.387bn out of which €1.161bn are accounting losses relating to the impairment test performed on our Company's assets due to the deteriorating state and the negative prospects of the Greek economy. Total losses from discontinued operations amounted to €254.6m out of which €132.6m is included in the amount of the impairment charges. Out of the remaining losses from discontinued operations, €80.3m will be recovered following completion of the merger between the Olympic Group of companies and Aegean Airlines. Excluding the impairment test and losses from discontinued operations, the Group recording losses after tax and minorities of €103.5m.
First half consolidated Group sales amounted to €735.5m vs. €583.5m in the same period of 2009 whereas first half gross profit reached €179.4m recording a small decline vs. the €190.8m recorded during the same period last year.
NAV stood at €2.463bn at the end of the first half, amounting to €3.24 per share. Post the readjustment in NAV, MIG's shares still trade at a significant discount of 70% of the NAV.
MIG continues to demonstrate a solid capital structure and strong liquidity. The Company maintains solid capital adequacy having a cash position of €570.4m at a time where mergers and acquisitions appear unavoidable.
The majority of our companies continue to hold number one or number two market positions in all of the sectors in which they operate, and are supported by strong balance sheets, strong cash resources, clear market-leading positions, and high quality, independently assessed assets of value, and are thus extremely well positioned to enjoy the maximum benefit of improving market conditions as the economy improves. MIG continues to further improve its operational strengths through restructurings, strengthening of management, international expansion and strategic actions in its group companies.
Commenting on the results, MIG's CEO Mr. Dennis Malamatinas made the following statement:
"The weak state of the Greek economy and its negative prospects, at least as these can be realistically assessed today, has resulted in the revision of the business plans and re-evaluation of a number of our Group's portfolio companies and have lead to significant accounting losses and the readjustment of our Net Asset Value. Nevertheless, the current level of €3.24 NAV per share does not justify the extremely low levels at which our share price is currently trading.
We consider that our strategy to emphasize in maintaining solid capital adequacy and strong liquidity, which currently stands at €570.4m, is correct not only defensively but also in order to enable us to participate from a position of strength in the impending restructuring in the Greek Business environment.
We believe that in a number of sectors where MIG operates mergers and acquisitions are becoming inevitable. The synergies that will be derived will enable companies to positively contribute in this challenging economic environment with a level of prices and services which will correspond to the diminished purchasing power of consumers.
In addition, we believe that the Greek Government in co-operation with the appropriate bodies of the EC and the IMF, will turn its focus, without further delay, to developing growth strategies, creating a business friendly environment and attracting new investments.
In the new environment that will emerge sooner or later, MIG, owning the leading companies in strategic sectors of the Greek economy, coupled with strong capital adequacy, meets all the conditions to reverse this period's losses and reward its long-term shareholders."
Contacts:
Investor Relations: +30 210 350 4000, +44 207 054 9280
About MIG: Marfin Investment Group Holdings S.A. is an international investment holding company based in Greece and throughout Southeastern Europe. The Company believes it is uniquely positioned to take advantage of an expanding array of investment opportunities in this region; opportunities in which traditional private equity funds and investment vehicles lacking MIG's regional focus, scale, expertise, and/or its investment flexibility and financial resources, may find difficult to identify and exploit. MIG is quoted on the Athens stock exchange and has a portfolio of leading companies in mainly defensive sectors across the SEE region, grouped into Food & Dairy, Transportation, Healthcare, Financial Institutions, IT/Telecoms, and Private Equity sectors. Included amongst its portfolio and subsidiary companies is Vivartia, a leading food and food retail business in the region; Attica Group, a leading passenger ferry operator; Olympic Air, Greece's national flag carrier; the Hygeia Group of hospitals, a leading private hospital group in Greece, Cyprus, Turkey, and Albania; Marfin Popular Bank; SingularLogic, the leading IT operator in Greece; and Robne Kuce Beograd, the largest chain of department stores in Serbia. As a truly diversified group, MIG has a global presence - with over 35% of its sales outside Greece, a presence in 40 countries, and more than 22 business segments overall. MIG employs over 56,000 employees and associates. The company has been listed on the Athens Stock Exchange since July 2007, when it raised €5.2bn in the largest rights issue by an investment company in global history at the time.
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GR. SARANTIS S.A. : Consolidated Financial Results H1 2010
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| Press Release. |
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EFG EUROBANK ERGASIAS SA. : First half 2010 financial results.
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| Read the Press Release. |
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PIRAEUS PORT AUTHORITY SA : "Financial reports for the first half 2010"
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The Board of Directors of P.P.A. S.A. on 30/8/2010 approved the Company's Financial Report for the first half of 2010. From the Report, the following arise:
1. The Company's turnover amounted to €64.31mil, against €61.07mil. in the relevant period of 2009. However, the amounts are not comparable, since the new Container Terminal is operating only for one month, as from 1/6/2010 and on a trial basis. From the remaining activities, the Car Terminals sector records a satisfactory increase with revenues amounting to €6.37 mil against €4.50 mil in the relevant period of 2009 (41.60% increase), mainly due to the increase of transhipment cargoes.
2. Other operational revenues for the period recorded a slight increase of 1.98% against the first half of 2009, amounting to €3.50mil (€3.43mil. on 30/6/2009) attributed to the increased rental income.
3. Total expenses for the period, recorded an increase of 6.75%, amounting to €65.62 mil. against €61.47mil. in the same period of 2009. It is noted that personnel payroll cost in the relevant period of 2009 was reduced because of the personnel mobilizations against the Concession Agreement, the abstention of personnel from overtime and weekend work mainly in the first quarter of 2009 and the reduced cargo flows.
4. A significant increase was recorded in provisions, compared with the first semester of 2009 that amounted to €300 thous.
Provisions from staff V.R.P 3.940
Provisions for pending lawsuits 1.648
Provisions for doubtful debts 1.105
Remuneration of Memorandum of Agreement 800
Other provisions 100
7.593
5. Consumption of spares and consumables for the first half of 2010 amounted to €371,130.29 against €1.64 mil. in the relevant period of 2009. The reduction derives mainly from the concession of equipments of the Container Terminal which were absorbing the most part of consumption of spare parts and materials.
6. Asset depreciation incorporated in the operational cost increased by 12.52%, amounting to €5.80 mil. against €5.16 mil. in the relevant period of 2009. This increase is attributed to the beginning of operations in Pier I container terminal as from 1/6/2010 that resulted to the increase of the Company's assets.
7. Net financial profits before taxes for the period amounts to €2.57 mil. against profits of €3.24 mil. in the respective period of 2009, while profits after taxes amount to €1.65 mil., against profits of €233,094.63. in the relevant period of 2009.
Cash and cash equivalents on 30/06/2010 amounted to €39.04mil. against €33.27 mil. on 31/12/2009 and €65.45 mil. on 30/06/2009.
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HELLENIC EXCHANGES S.A. : Announcement of regulated information in accordance with Law 3556/2007
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Hellenic Exchanges S.A. announces, pursuant to Law 3556/2007 and Law 3606/2007 that Eurobank EFG Equities notified it on 30.08.2010 that:
1. On 26.08.2010 it sold 5 HELEX futures at a total value of EUR2,470.00
2. On 26.08.2010 it bought 95 HELEX futures at a total value of EUR46,562.00
3. On 26.08.2010 it bought (borrowed) 86 HELEX contracts, at a total value of EUR42,914.00
4. On 26.08.2010 it sold 8,600 HELEX common registered shares, at a total value of EUR42,554.86
These transactions by Eurobank EFG Equities took place in its capacity as market maker in the derivatives market.
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GEK TERNA HOLDING, REAL ESTATE, CONSTRUCTION S.A. : First half 2010 Results
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According to the financial statements of 30/06/2010, which were prepared in accordance with the International Financial Reporting Standards, the 1st half results of 2010 for the GEK TERNA Group are as follows:
Consolidated sales of GEK TERNA amount to 275 million euro compared to 365.1 million euro during the 1st half of 2009, thus decreased by 24.6% mainly due to reduced sales from the construction and industrial segment.
Earnings before interest tax depreciation and amortization (EBITDA) of the GEK TERNA Group amounted to 30.8 million euro, compared to 42.3 million euro, posting a decrease of 27.2% compared to the 1st half of 2009 which is mostly attributed to the construction and industrial segment. Correspondingly, earnings before interest and tax (ÅÂÉÔ) of the Group amounted to 15.8 million euro, compared to 28.4 million in 2009, decreased by 44.3%. Earnings before tax posted a decrease of 76.2% (also due to the unfavorable comparison with the respective period last year, when the group recorded extraordinary profit from the sale of 50% of the companies HERON 1&2) and amounted to 10.2 million euro compared to 42.3 million euro during the respective period of 2009, while net earnings after minority interest, amounted to 1.9 million euro compared to 70 million during the 1st half of 2009, decreased by 97% compared to the respective six-month period last year.
The Group's total investments during the period amounted to 191 million euro and mainly refer to the Energy, Concessions and Construction segments.
Total net debt amounts to 344 million euro, as the Group maintains cash & cash equivalents of 387 million euro, while total bank debt amounts to 732 million euro. Total equity amounted to 714.3 million euro.
As regards to the individual activities: the Group's construction backlog amounts to 2.27 billion euro, 15% of which corresponds to the Middle East and Balkans markets. The construction turnover for third parties amounted to 233 million euro compared to 316.7 million during the 1st half of 2009, posting a 26.4% decrease, while operating profit (EBIT) of the segment decreased to 9.8 million euro compared to 18.7 million the respective half of 2009.
In the Real Estate segment, sales amounted to 2.6 million euro compared to 2.7 million the respective period last year, while operating profit amounted to 0.1 million euro compared to 0.4 million euro the 1st half of 2009.
In the Concessions sector, turnover amounted to 14.4 million euro compared to 11.3 million euro during the 1st half of 2009, posting a 27% increase, while operating profit (EBIT) increased to 1.6 million euro compared to 0.6 million during the respective period last year. Income from the segment is attributed to the management of the Ionian Road project and from the management of car parks.
From the segment of Energy production from thermal sources, income for the Group amounted to 4 million and concern the first HERON 1 back-up unit, from which earnings before interest, tax, depreciation and amortization (EBITDA) amounted to 1.6 million euro. The Group's second unit that was constructed in Viotia (HERON 2 - 435 MW capacity) commenced operations during the summer of 2010. It is noted that the Group has already transferred 50% of the two aforementioned thermal units to the Group GDF SUEZ, thus exercising joint management on such.
In the Renewable Energy Sources (RES) sector, TERNA ENERGY operates 148.6 MW of energy production facilities from Renewable Sources, while an additional 252 MW are under construction, from which 190 in Greece and 62 MW in Eastern Europe. Income from the production of energy from RES amounted to 16.4 million euro, increased by 9.4% while EBITDA amounted to 8.9 million during the 1st half of 2010, compared to 9.3 million euro the respective period of 2009.
Information:
Investor Relations: Aristotelis Spiliotis, tel + 30 210 69 68 431, tspiliotis@gekterna.gr
Press Office & Public Relations: Konstantinos Lambrou, tel + 30 210 69 68 445, prkl@gekterna.gr
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M. J. MAILLIS S.A. : Announcement in accordance with paragraph 4.1.4.4. of ATHEX regulation
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Within the framework of the release of M. J. MAILLIS S.A. financial statements for the 01/01/2010 ? 30/06/2010 period and in accordance with paragraph 4.1.4.4. of ATHEX regulation, the investment public is informed that the company?s shares remain listed in the ?Under Supervision? category to which they were transferred on 3/4/2009 following the ATHEX BoD decision reached on 3/4/2009. The reason for the transfer to the ?Under Supervision? category was that based on the 31/12/2008 full year financial statement, losses for the yearly period exceeded 30% of net position without any actions towards improvement of the situation via a share capital increase (article 3.1.2.5. of ATHEX regulation).
Since then, the Group has launched an extensive restructuring and cost reduction program, the first results of which are already evident in the improvement of company operations and in the reduction of operating costs. As it becomes evident from the group?s financial results of first half 2010, as well as from the current period?s trend, there is increase in the production volume and productivity improvement leading to better sales and a positive impact in the Group?s profit margins. The restructuring?s second phase is progressing and we expect further reduction in expenses and production costs as the program unfolds.
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EFG EUROBANK ERGASIAS SA. : 2Q 2010 Results Presentation
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| Results Presentation. |
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GEK TERNA HOLDING, REAL ESTATE, CONSTRUCTION S.A. : IR REPORT
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The company GEK TERNA S.A. announces that the IR REPORT with the Ç1 2010 financial results will be posted on its website, www.gekterna.gr and on ASE's website www.athex.gr.
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BANÊ OF CYPRUS PUBLIC COMPANY LTD : Group Financial Results for the Six months ended 30 June 2010
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| Press Release. |
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MINOAN LINES SA : Financial Results for the First Half of 2010
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Minoan Lines six-month Financial Results Affected mainly by:
- The Significant Increase of Fuel Cost (+49.1%)
- Unprecedented Economic Recession in Greece
- The Increased Competition
Financial Results
Within this unfavorable economic environment, Minoan Lines, having followed over the past years a bank loan reduction approach as well as a reduction of operating expenses, has substantially strengthened its overall financial position. All this has allowed the company to surpass any difficulties arising from the unprecedented and negative economic crisis.
For the 6-month period of 2010 the revenue stood at € 70.8 million while the operating results (EBITDA) were shaped at € -11.3 million. Minoan Lines net results after taxes in the 6-month period of 2010, which due to the seasonality in traffic volumes are always negative, stood at € -21.8 million. In the net results the amount of € 1.1 million is included which is a one-off special tax contribution. It should be noted that financial results for the 6-month period of 2010 were significantly affected by both the high fuel cost (49.1% in comparison with the respective period of 2009) and the intensive competition. An additional factor that contributed to the increase of fuel cost was the appreciation of the dollar against the euro.
The Group's turnover was shaped at € 70.8 million and the operating profits (ÅBITDA) and net results stood at the same level with that of the parent company.
Traffic
North Adriatic Routes
In the North Adriatic market (International routes / Ancona & Venice) Minoan Lines, having as a guiding principle the achievement of the most efficient economic operation of its fleet, succeeded in the 6-month period of 2010 higher market shares in the passenger and truck traffic categories in comparison with the respective share of trips. More specifically, the market shares stood at 38.3%, 35.0% and 38.6% for passengers, private cars and trucks respectively with Minoan Lines accomplishing the 35.6% of trips in the North Adriatic market. During the first quarter of 2010, Minoan lines carried 203,000 passengers, 44,000 cars and 42,000 trucks.
Domestic Market
During the first half of 2010 on the Heraklion - Piraeus route, the Company managed to maintain its leading position in the market succeeding higher market shares in all traffic categories in comparison with the respective share of trips. More precisely, with the Company having realized the 38.5% of trips, the market shares reached 57.2% for passengers, 51.4% for cars and 41.3% for trucks.
Moreover, the Company in the first 6-month period of 2010 carried 375,000 passengers, 42,000 cars and 30,000 trucks.
On the Ionian route (Patras ? Corfu) the Company in the first half of 2010 carried 13,000 passengers, 2,000 cars and 1,400 trucks.
Deployment of new vessels
On October 15, 2009 the new building vessel Cruise Europa was deployed on the route Patra ? Igoumenitsa ? Ancona while last July the sister vessel Cruise Olympia was deployed on the same route.
With carrying capacity of 3,000 passengers and a 3,000 linear meters garage (each vessel can carry 180 international transport trucks and 250 cars or alternatively 1,000 private cars approximately) both Cruise Europa and Cruise Olympia are signaling a new era in the sea connection between Greece and Italy. It should be noted that the said vessels have already created a significant commercial dynamic increasing substantially Minoan Lines? traffic volumes on the route.
Important Developments
Minoan Lines despite the increase of fuel cost and the intense competition has proceeded to the reduction of its bank debt over the last years. More precisely, during the period 1/1/2009 - 31/8/2010 the company's bank debt level was reduced by € 106.5 million improving substantially its financial structure. This development along with other measures that Minoan Lines' management has already taken pave the path for the Company to surpass the enormous economic crisis that mainly affects Greece.
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SCIENS INTERNATIONAL INVESTMENTS AND HOLDINGS SA : Purchase of own shares.
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| In accordance with article 4, par. 4 of Regulation 2273/2003 of the Commission of European Union, Sciens International Investments and Holdings S.A. announces that following the resolution of the Extraordinary General Meeting of the Shareholders dated May 20, 2010 and the Board of Directors resolution dated May 20, 2010, and in accordance with article 16 of L. 2190/1920, during the trading session of 30/08/2010 acquired 4,085 own shares through PROTONBANK S.A. at the price of € 0.53 per share and the total value of the transaction amounted to € 2.145.40.
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FOLLI - FOLLIE S.A. : Folli Follie financial results for the First Half of 2010
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PRESS RELEASE
Folli Follie in the First Half 2010:
-Group Revenues increase by 3%
-Folli Follie stand alone revenues increase by 10 %
-Group net income decreases by 30% to € 38 million
Athens, August 30th 2010. Folli Follie S.A. presents solid first half 2010 financial results despite the further worsening of its local market.
George Koutsolioutsos Vice President of Folli Follie and President of Hellenic Duty Free Shops and Elmec Sport said:
After an excellent start into the year we have delivered solid first half results, despite the further worsening of our local market and the one-off windfall tax which burdened our Group financial results. We are satisfied with our performance to date, taking into consideration the difficult environment in which we are operating. All our teams work very hard to ensure that the Group weathers the current developments and seizes opportunities as soon as this challenging environment subsides.
Sales rose by 2,7% to EUR 464,7 million in the first half of 2010 (H1 2009: EUR 452,7 million).
Gross profit reached EUR 238,3 million vs. EUR 237,2 million in the same period last year increasing by 0,5%.
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) rose by 1,8% to EUR 103,3 million from EUR 101,5 million and Earnings Before Taxes reached EUR 64,8 million compared to EUR 80,3 million in the first half 2009 (-19,3%), driven by higher financial expenses and the one-off windfall tax of EUR 6,2 million, driven by higher financial expenses and the one-off windfall tax of EUR 6,2 million.
The group recorded profit after taxes of EUR 43,7 million from EUR 62,8 million the same period last year, representing a decrease of 30,4%. Excluding the extraordinary one-off tax and losses from derivatives and foreign exchange profit after taxes would have reached EUR 65,3 million compared to EUR 62,8million in the first half of 2009 showing an increase of 4,1%.
Net earnings after taxes and minorities decreased by 30% to EUR 38,3 million from EUR 54,7 million the same period last year.
Finally, the earnings per share reached EUR 1,1662 from EUR 1,6718.
Folli Follie (stand alone) results highlights:
With regards to Folli Follie S.A. stand alone figures (based on DFS equity method) revenues for the period January 1st, to June 30th 2010 rose by 10,3% to EUR 207,5 million (H1 2009: EUR 188,1 million).
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) reached EUR 65,0 million from EUR 59,2 million the year before increasing by 9,8%.
Net sales by geographical region:
In an analysis of Folli Follie?s total revenues for the first half 2010 on a stand-alone basis* and by looking at each region, Japan accounted for 10%, the rest of Asia reached 63% of total sales, Europe generated 11% of sales and Travel Retail operations reached a sales participation of 16%.
In a breakdown of sales per region Asia reached EUR 130,0 million of sales against EUR 110,0 million in H1 2009 (+18,2%), Japan posted sales of EUR 20,5 million vs. EUR 22,0 million (-6,8%), Europe recorded revenues of EUR 23,0 million vs. EUR 26,0 million (-11,5%) and the Travel retail sector recorded sales of EUR 34,0 million against EUR 30,1 million (+13%) compared to the same period last year.
Sales per product category:
According to the sales per product category, jewellery accounted for 59%, watches accounted for 34% and accessories for 7% of sales.
* based on DFS equity method (consolidation of HDFS group by 56,8%)
Folli Follie S.A. Group Results
in € million H1 2010 H1 2009 % change
Sales 464,7 452,7 2,7%
EBITDA 103,3 101,5 1,9%
Gross Margin 51,3% 52,4%
EBT 64,8 80,3 (19,3)%
Net Profit 38,3 54,7 (30,0)%
Folli Follie stand alone (Sales breakdown per region)
H1 2010 H1 2009 % change
in € million
Asia 130,0 110,0 18,2%
Japan 20,5 22,0 (6,8)%
Europe 23,0 26,0 (11,5)%
Travel Retail 34,0 30,1 13,0%
The Folli Follie Group controls the brands Folli Follie and Links of London which create, produce and distribute branded jewellery, watches, accessories and giftware internationally, whereas the Group represents exclusively in Greece and certain countries abroad a rich portfolio of popular and large brands such as Nike, Converse, Coach, Juicy Couture, Samsonite, Patrizia Pepe, Harley Davidson etc.
The Folli Follie Group has a direct control of the Folli Follie and Links of London product distribution network, while it is involved in the field of retail and wholesale with the brand portfolio it represents and distributes. In addition the Group operates two luxury department stores under the brand name ''attica'' and two outlet centres in Athens through Elmec Sport. Another important pillar of the group?s structure is the travel retail operator Hellenic Duty Free Shops owning the exclusive rights for the Greek Duty Free Business with a paid license until the year 2048
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SFAKIANAKIS S.A. : Press Release
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The ongoing global financial crisis combined with developments in the Greek economy during the first semester of 2010 (wage reductions in the wider public sector, increase of unemployment, reduction of the liquidity of the enterprises and the financial system, reduction of the purchasing capacity of the Greek family, etc.) contributed to deteriorate the already negative climate and the market to write down historically low levels of sales, having as a result to affect negatively the sales and financial results of the Group.
The total car registrations were decreased in the first semester of 2010 by 13.54% compared to the relevant semester of 2009 and by 34.7% compared to the average of the car registrations for years 2004-2009.
Suzuki car registrations in the first semester of 2010 amounted to 4,760 units presenting a decline of 21.63% compared to 6,074 units of the first semester of 2009, with the market share to be formed up to 4.8%.
Suzuki motorcycle registrations in the first semester of 2010 amounted to 2,186 units presenting a decline of 13.70% compared to the 2,533 units of the first semester of 2009.
Company's turnover in the first semester of 2010 amounted to € 161.6 mil. presenting a decrease of 22.64% compared to the corresponding period of 2009, operating results (EBITDA) amounted to € 1.6 mil. and results before taxes were formed to a loss of € 6.59 mil.
On consolidated level, Group's turnover in the first semester of 2010 amounted to € 188.5 mil., presenting a decrease of 23.53% compared to the corresponding period of 2009, operating results (EBITDA) amounted to € 10.3 mil. and results before taxes were formed to a loss of € 8.05 mil.
The total expenditures of the Group companies continued their decreasing course after the reduction made in 2009, and showed a further decrease of 8% in the first semester of 2010, inventories of the Group declined by 15.02% and the financial cost decreased by 18.01%.
The restructuring of the loans of the Group companies was completed with the disbursal, held on 16.7.2010, of a four-year bond loan with extension option of one more year, amounting to € 25,0 mil. for the subsidiary company Executive Lease S.A. The above loan was used, like the previous ones both for Sfakianakis of € 200 mil. and for Panergon of € 51.5 mil. for the refinance of existing bilateral long-term and short-term loans of the company of corresponding amount.
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ELBISCO HOLDING S.A. : Availability of the half yearly financial report
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| The company ELBISCO S.A. HOLDING, informs the investors that the half yearly financial report for the six-month period ended June 30, 2010 have been posted in the Athens exchange website (www.athex.gr) and in the company's website (www.elbisco.gr). The figures and information concerning the aforementioned period will be published in the Press, tomorrow Tuesday, August 31, 2010, in the newspaper under the name "IMERISIA".
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BANÊ OF CYPRUS PUBLIC COMPANY LTD : NOTICE OF SHAREHOLDERS’ EXTRAORDINARY GENERAL MEETING
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| Announcement.
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HERACLES GENERAL CEMENT COMPANY S.A. : Heracles Group Announces 1st Semester 2010 Results
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Heracles Group Announces 1st Semester 2010 Results
- Results reflecting challenging economic environment
Heracles Group of Companies announced today sales of 211.92 million Euros for the first semester of 2010, a decrease of 21.4% compared to the same period in 2009. Sales of the Company were at 184.92 million Euros, a decrease of 23.4% compared with the first semester of 2009.
Sales in the first semester of 2010 were affected by lower demand in the residential housing market and the overall challenging economic environment. Moreover, reduced demand in export markets traditionally supplied by the Group further impacted 2010 first semester sales. Intensified efforts and measures have been taken to reduce operating costs and optimize production and supply chain processes. The optimisation of electric power consumption, the reduction of fixed costs and distribution costs, as well as actions to increase productivity, help to partially offset the effect of lower volumes and higher fuel prices.
The Group's earnings before taxes, interest, depreciation and amortisation (EBITDA) was 37.95 million Euros and represented a decrease of 10% compared to the first semester of 2009. The Company's EBITDA decreased by 7.9% compared with the first semester of 2009, amounting to 40.35 million Euros.
The Group reported first semester 2010 losses after taxes of 2.46 million Euros, while in the respective period of 2009 it had 11.25 million Euros net profit after taxes. The Company's net profit after taxes decreased in the first semester of 2010 to 5.70 million Euros compared to 22.94 million Euros in the corresponding period of 2009.
The net profit after taxes both for the Group and the Company was substantially affected by the imposition of the special levy for social responsibility in May 2010 of 6.00 million Euros for the Group and 5.85 million Euros for the Company.
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About the company
HERACLES Group of Companies, a member of Lafarge, is Greece's largest cement producer, with a production capacity of 9.6 million tons per year. Operating three cement plants, in Volos, Halkis and Milaki in Evoia, six cement terminals, as well as production and trading units of aggregates and concrete, the Heracles Group has production activity in 29 prefectures in Greece and trading activity throughout continental and island Greece. Driven by a customer focused approach, brings to the market differentiated, innovative products to meet customer and end-user needs. Additional information is available on the web site at www.lafarge.gr.
Lafarge is the world leader in building materials, with top-ranking positions in all of its businesses: Cement, Aggregates & Concrete and Gypsum. With more than 78,000 employees in 78 countries, Lafarge posted sales of Euros 15.9 billion in 2009. In 2010 and for the sixth year in a row, Lafarge was listed in the `Global 100 Most Sustainable Corporations in the World`. With the world's leading building materials research facility, Lafarge places innovation at the heart of its priorities, working for sustainable construction and architectural creativity. Additional information is available on the web site at www.lafarge.com.
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ELMEC SPORT S.A. : Elmec Sport S.A. financial results for the 1H 2010
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-Consolidated sales at EUR 125.7 mn (+3.4%)
-EBITDA at EUR 6.2 mn (-42%)
-EAT & Minorities at EUR 2.2 mn
Consolidated sales for 2010 reached EUR 125.7 mn (2009: 121.5 mn euro) increased by as much as 3.4%, driven from the maturity of the 2nd department store attica while also from the parent company.
Consolidated gross profit decreased to 37.6% from 41%. Gross profits, decreased in almost all of the companies of the Group, firstly because the Group followed the majority of retailers to carry discount promotions in response to adverse macroeconomic conditions, and secondly because of the bazaars and similar events to liquidate old stocks.
Consolidated EBITDA came in at EUR 6.2 mn, -42% (2009: EUR 10.6 mn)
Operating expenses amounted to 21.5 million versus 18.8 million in the corresponding period last year. Operating expenses for the Group increased by 2 million, from 46.3 million to 48.3 million. The increase in expenditure is due mainly to the functioning of nineteen (19) new pos and entering into new business activities (Juicy, Samsonite, etc.).
Earnings before taxes in 2010 amounted to € 3,5 million compared to € 8,1 million in 2009. It is worth noting that both the current and the previous semester, non recurring revenues were identified .in the finance part of the consolidated statement of comprehensive income. In the current semester, the Group recognized 4.8 million from the revaluation of the Group to the company Greek Distribution SA, which took over on June 30, 2010 until now 100% subsidiary company "Ipirotiki AEKE. In the previous corresponding period the Group sold property in the city center to a profit for the group of 5.2 million.
Earnings after tax and minority interests amounted to € 2,2 million compared to € 5,5 million in 2009. Earnings are negatively affected by the windfall tax amounting to 759 thousand euro.
Divisional breakdown
In the department stores arm, for the 6 months of 2010, sales advanced by 2% to EUR 68.7 million. In the retail arm, sales advanced by 9% yoy to EUR 34.1 million. As far as the wholesale arm is concerned, sales increased by 2% yoy to EUR 18.7 million. Gym equipment reached to EUR 1.3 million, motorcycle sales to EUR 2.2 million and other sales stood at EUR 0.6 million.
Athens, August 30, 2010
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BANÊ OF CYPRUS PUBLIC COMPANY LTD : Financial Calendar
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| Announcement. |
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GR. SARANTIS S.A. : Announcement of Regulated Information according to Law 3556/2007- Publication of Data & Information for the period 01/01/2010 - 30/06/2010
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| The company GR. SARANTIS S.A., announces, according to the L.3556, that the Company's Figures & Information for the period 01/01/2010 to 30/06/2010 will be published tomorrow 31/08/2010 in the newspapers "XRIMATISTIRIO" and "APOGEUMATINI" and are already available, together with the Half Year Financial Report, at the company's website www.sarantis.gr as well as the Athens Exchange website www.ase.gr.
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MINOAN LINES SA : Announcement of regulated information according to Law 3556/2007
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The company Minoan Lines S.A. announces that the legal entity (GRIMALDI COMPAGNIA DI NAVIGAZIONE Spa) associated with Mr Emanuele G. Grimaldi Chairman of the Board of Directors (Liable person according to the article 13 of L. 3340/2005) bought 1,000 ordinary shares of a total value of € 3,305.00 on August 25, 2010 and 2,600 ordinary shares of a total value of € 8,401.64 on August 26, 2010.
The aforementioned announcement is in accordance with L. 3556/2007 (art.3 and 21) and in combination with the resolution of the H.C.M.C. 1/434/3.7.2007 (Art. 11).
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PROTON BANK S.A. : 1st Half 2010 Financial Results
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| Press Release. |
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HERACLES GENERAL CEMENT COMPANY S.A. : Changes in the Board of Directors of HERACLES GENERAL CEMENT COMPANY
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The Heracles Board of Directors in its meeting on 30th August 2010 received and accepted the resignation of Mr. Didier Petetin as member of the Board and elected as a new member Mr. Perikles Nicolaou, according to articles 11 and 18 of the Company's Articles of Association and the relevant decision of the General Assembly of the Shareholders of 22.5.2009, for his remaining term in office, i.e. until the Ordinary General Assembly of 2012 which will assess the actions of the fiscal year 2011. The election of the new member will be ratified by the first convened General Assembly (Ordinary or Extraordinary).
As per the above, the Board of Directors of the Company is as follows:
Chairman of the Board Manolis Chris Kyprianides, Entrepreneur, non-executive member
Vice Chairman Peter James Hoddinott, Lafarge Regional President Western Europe, non-executive member
Executive member Pierre Deleplanque, Managing Director
Members Jean-Charles Blatz, non-executive member
Jean-Jacques Gauthier, Lafarge Group Executive Vice President Finance, non-executive member
Perikles Nicolaou, Lafarge Beton Aggregates Operational Manager N. Greece, non-executive member
Christos Sorotos, Economist, independent, non-executive member,
Agissilaos Karambelas, Lawyer, independent, non-executive member
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NIREUS S.A. : SIX MONTHS 2010 RESULTS
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| Press Release.
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Forthnet S.A. : Press Release - Results for the Q2’10, Trading Update and operating performance
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| See the Press Release. |
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HELLENIC FABRICS S.A. : Press Release
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The Group of HELLENIC FABRICS S.A. attained a reduction in loss before taxes by 17.7% during the first half-year period of 2010.
The group's turnover showed a decrease by 12.25% and amounted to € 28.95 mln against € 32.99 mln in previous year?s corresponding period, mainly attributed to the drop of raw cotton sales during the second quarter of 2010.
In contrary, the parent company?s turnover increased by 0.8% and amounted to € 23.42 mln against € 23.23 mln in the same period of 2009. Especially the denim fabric turnover showed an increase by 14.9% against the corresponding period of 2009.
The group's financial results before taxes amounted € 5.63 mln against € 6.84 mln during the first half-year of 2009, while the parent company's financial results before taxes to € 5.21 mln against € 5.88 mln in the same period of 2009.
The group's gross margin amounted to € 0.80 mln against € 1,37 mln in previous year?s corresponding period, mainly affected by the steep rise of global cotton price, which has negatively influenced the production cost, mainly during the second quarter of 2010, as well as the increased fuel cost and personnel's retirement severance pay.
Despite the reduction of group's gross margin, EBITDA was improved and amounted to € -1.69 mln against € -2.61 mln in previous year's corresponding period.
The Group's management continues to apply all necessary measures aiming at production cost reduction and capital release in order to secure adequate liquidity.
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HELLENIC FABRICS S.A. : Press Release
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