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COCA-COLA Å.Å.Å. S.A.|
ALBIO HOLDINGS S.A.
AGROTIKI INSURANCE COMPANY S.A.
GERMANOS IND. & COM. CO S.A.
PC SYSTEMS S.A.
COCA-COLA Å.Å.Å. S.A. : Approval of the share capital reduction and return of 2 euros per share to all shareholders.
|Athens, Greece - 17 November 2003 - Coca-Cola Hellenic Bottling Company S.A. (Coca-Cola HBC, CCHBC) announces that the Extraordinary General Meeting, which took place on October 31st, approved a share capital reduction of 473,337,192 euros and the return of 2 euros per share to all shareholders.
As a result the nominal value of CCHBC shares will be reduced from 2.50 euros to 0.50 euros. The company's new share capital will therefore be 118,334,298 euros divided into 236,668,596 common bearer shares each with a nominal value of 0.50 euros.
The reduction to the share capital and the nominal value has now been approved by the Ministry of Development (decision Ê2-14226/10.11.2003) The Athens Stock Exchange was informed in its board meeting of November 14, 2003 of the share capital decrease and the change in CCHBC's share nominal value.
Coca-Cola HBC's Board of Directors has set the record date for the capital return on Friday November 28, 2003. As from Monday December 1, 2003 the company's shares will be trading on the Athens Stock Exchange with the new nominal value of 0.50 euro each and ex-capital return right.
Share capital return payments will begin on Friday 5 December 2003 through submission of the relevant Central Securities Depository certificates by shareholders or their brokers or financial institutions. The share capital return payments will take place through the EFG Eurobank Ergasias branch network until 30 June 2004. After this date, payment will only be made through the Company's Central Offices.
Brokers and financial institutions that represent shareholders are kindly requested to contact Mrs Kiki Alafogianni at EFG Eurobank Ergasias, Trustee Directorate, Corporate Action Department, 5 Santaroza, 3rd floor, Athens tel: 210 335 7149.
For the share capital return payment shareholders need to submit the following:
- Central Securities Depository Certificate of beneficiary ownership of Bearer Securities share capital return
- Police Department Identification Card
- Tax Registration Number and the relevant Tax Office
Payment of the share capital return will only be made to a third party if a power-of-attorney of the beneficiary including the above documents is submitted and verified for signature authenticity by the Police or other Authority.
Coca-Cola HBC is one of the world's largest bottlers of products of The Coca-Cola Company and has operations in 26 countries serving a population of more than 500 million people. CCHBC shares are listed on the Athens Stock Exchange (ASE: EEEK), with secondary listings on the London (LSE: CCB) and Australian (ASX: CHB) Stock Exchanges. CCHBC's American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE: CCH).
ALBIO HOLDINGS S.A. : The following press release, regarding the profit and loss accounts of the first 9 months of the year 2003, has been published by the CORPORATE ANNOUNCEMENTS OFFICE.
A. Parent Company "ALBIO HOLDINGS S.A."
- The total pretax earnings for the first nine months of the year 2003 amounted to 1,061, 524 Euros compared with the amount of 719,306 Euros for the corresponding period of the year 2002. This 47,5% rise results mainly from the increased dividends of the subsidiaries of the profit and loss accounts of the year 2002 as well as from the reduction of expenses.
B. ALBIO GROUP
- The net sales of the group amounted to 57.46 million Euros during the first 9 months of 2003 compared with those the corresponding period of 2002 that amounted to 59.69 million Euros, that is a 3.73% reduction.
- The GROUP'S exports amounted to 22.37 million Euros during the 9-month period of 2003 compared with the exports amounting to 24.07 million Euros during the respective period of the year 2002. Exports constitute the 39% of the turnover. The exports fall by 7.06% was realised after March 2003 at the same time that the military events in IRAQ took place and came as a result of the international negative economic conjuncture.
- During the aforementioned 9-month period of 2003 the GROUP presented pretax earnings, also following the deduction of minority rights amounting to 889,951 Euros compared with the earnings amounting to 616,604 Euros during the corresponding period of 2002, that is a 44.33% rise.
Despite the small reduction in sales during the 9-month period, the GROUP managed to improve the gross profit rate from 22.84% (in 2002 for the respective period) to 24,26%.
C. The estimations of the GROUP?s Management for the current financial year 2003 are the following:
- The net sales shall amount to approximately 77-80 million Euros compared with 80.2 million Euros in 2002.
- The earnings after tax and after the deduction of minority rights shall increase by 40% and shall amount to 2.1 million Euros.
It must be taken into account that, during the past five years, investments amounting to more than 44 million Euros (2002=6.42 million Euros, 2001=8.37 million Euros, 2000=14.45 million Euros and 1999=10.12 million Euros) have been realised that concern mainly the modernisation of the mechanical and mechanical engineering equipment of the two biggest subsidiaries, i.e. EXALCO S.A. and BIOKARPET S.A. Further investments are also expected to take place during the current financial year 2003 (during the past nine months investments amounting to 5.1 million Euros have also been realised).
The GROUP'S Board of Directors believe that, following their reorganisation and the investments that were realised, the subsidiaries have improved their competitiveness to a great extent as well enhanced their productive capacity; as a consequence they will be able to increase their turnover in the future and, consequently, their net profit.
AGROTIKI INSURANCE COMPANY S.A. : Partial modification of the investment program
|The Extraordinary General Meeting of Agrotiki Insurance S.A., which has taken place in the company's headquarters today, decided a partial modification of the investment program of the capitals originating from the Athens Stock Exchange.
According to the shareholders decision, an amount of almost 8 million euros, in addition to the 5 million euros that had been originally provisioned, will be allocated for the completion of the early retirement scheme of the employees, which is in progress. This amount corresponds to the two years salaries for almost 140 employees under retirement, without taking into consideration the additional profits for the Company, which will result from the reductions in costs relating to overtime, transportation, rent, educational programs, etc. Following the above, the Company's return on investment will be 100% in four years time.
The reduction of operational costs that will be achieved will contribute to the improvement of the Company s results in the forthcoming financial years. The partial employment of the new staff that has been foreseen will affect the Company's results only by 700.000 - 800.000 euros per year.
An amount of about 4,4 million euros will be allocated for the completion of the new building of the Company. The profit that will result from the relocation is estimated at about one million euros per year
GERMANOS IND. & COM. CO S.A. : Constant growth in financial results
|Increase in Turnover by 16.4%
Increase in EBITDA by 22.0%
Increase in Earnings Before Tax by 58.0%
GERMANOS' financial results demonstrated strong growth rates on both consolidated and parent basis for the nine-month period in 2003.
More specifically, on consolidated basis, Turnover rose by 16.4% reaching 495.3 euros million from 425.6 million euros in 2002 continuing the positive growth trends observed over the past few years.
Sales increased in all business segments where the Group is currently involved in. Retail sales rose to ? 320.7 million, up 14% comparing to the same period last year, industrial sales moved 25% higher to 25.3 million euros, whereas wholesale activity rose by 17% to 132.2 million euros.
It is important to note that sales from international markets surged 85% reaching 69.7 million euros, contributing by 13.5% to total sales versus 8.5% in the same period last year.
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) grew 22% to 51.22 million euros, with EBITDA margin rising to 10.34% versus 9.87% in 2002. This improvement is due to the management's constant efforts for a lower "operating expenses / turnover" ratio, and it is in the context of the three year plan - which started last year - aiming at a ratio of 15% on an annual basis.
Finally, Consolidated Earnings Before Taxes (after Minority Rights) rose by 58% to 41.4 million euros from 26.2 million euros in 2002.
An especially positive effect - of approximately 7.3 million euros on the bottom line - was generated by the financial results of Hellenic Duty Free Shops (HDFS), which have been consolidated through the equity method.
Parent company GERMANOS SA demonstrated a similar growth in its financial results. Sales moved 11.2% higher to 409.5 million euros, whereas Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) rose by 20.6% to 46.7 million euros. Finally, Earnings Before Tax grew by 22.1% to 36.1 million euros, versus 29.6 million euros in the corresponding period of 2002.
PC SYSTEMS S.A. : PC SYSTEMS signed a contract for the implementation of the SOL project
PC SYSTEMS (PSYST GA) (PCSr.AT), subsidiary of the POULIADIS GROUP (POUL GA) (POUr.AT), announced that it signed a contract amounting to 1.7 million euros with the General Secretariat of Research and Technology within the framework of the "Competitiveness" business plan of the Third Community Support Framework.
Specifically, the Research and Development Division of PC SYSTEMS undertook the coordination and realization of the SOL Research Project (Advanced Interactive Information System of Communication, Updating and Sensitization of the Public to issues concerning the protection against earthquakes), which will be completed within thirty (30) months.
The project focuses on the utilization of the up-to-date informatics and communication technologies for the best informing and sensitisation of the public regarding protection against earthquakes issues.
More specifically, the under progress SOL System will provide through the Internet:
- Extensive informative material regarding earthquakes, historical examples of great earthquakes and earthquake protection guidelines plus general information which will be specially processed in order to be comprehensible both by the broader public as well as targeted user groups: students, professors, parents, individuals with disabilities.
- Extensive scientific material and bibliography as well as on line graphical illustration tools of geographically broken down seismological and geological data
- Interactive support services of user group activities such as projects of elementary and high school students, readiness drills of professionals and ?on-line? psychological profile, research activities.
- Psychological support of the public and feedback from experts to questions related to earthquakes
- Collection and evaluation of sociological information in order to draw conclusions and improve the system on a continuous basis
From a technological point of view, the company will lay emphasis on the operational and easy utilization of the system. Thus the system will be accessed through the Internet. In addition, it will be particularly user friendly and support will be rendered to people with disabilities such as phonetic presentation of texts and use of sign language dictionary.
From a scientific point of view, emphasis will be given, apart from the reliability and extent of the informative material, on its best adjustment in order to be comprehensible to the population target-groups.
Apart from the Research and Development Division (R&D) of PC SYSTEMS, which is the project?s coordinator and provides know-how in issues concerning the systems development, the National Observatory of Athens, the Pedagogical Institute, the Eugenides Foundation, the Institute for Language and Speech Processing as well as the National & Kapodistrian University of Athens also participate in the project.
The SOL project (Seismos On Line) aims at the establishment of a viable interactive system which will comprise specialized researchers, technological infrastructure, data and actions, and which will aim at the communication with the public and the individual population groups for its valid, continuous and complete updating concerning earthquake issues and emergency plans.
PC SYSTEMS with its active participation in the SOL project continues its successful course for the development and realization of innovative systems in the sectors of information technology and telecommunications. Thus the company will be able to establish the appropriate infrastructure for the facilitation of the provision of information and services through alternate communication channels.
PC SYSTEMS constitutes the basic unit of Pouliadis Group in Systems Integration area. The main sectors, which the company is active in, are focused on the design, distribution, support, training and maintenance of information systems, the provision of advanced technology services to the information technology and telecommunications sectors, on the systems integration and the business software production.