Athens, 29 August 2014

FIRST HALF OF 2014 RESULTS

Turnover of the Company in the first half of 2014 amounted to euro 151.8 million from euro 161 million in the first half of 2013, decreased by 5.7% (euro -9.2 million). This drop was mainly due to the implementation of the new tariff with lower charges for the consumers and to the decrease of the water demand. 

Company's earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to euro 32.6 million compared to euro 39.1 million in the first half of 2013, decreased by euro 6.5 million, while the earnings before taxes of the Company amounted to euro 22.6 million against euro 21.6 million in H1 2013, increased by 4.9% despite the drop in the turnover, due to the improvement of the net financial income.

The operating cost before depreciations, amounted to euro 118.9 million from euro 119.8 million in H1 2013, posting a decrease of approximately 1%, while the short-term borrowings on 30.06.2014 settled at zero versus euro 123.7 million on 30.06.2013. The reduction resulted from the settlement of the Company's receivables from the Greek State and the Local Government Authorities (OTA) during the year 2013.