The pre-tax profits of KRI-KRI S.A. increased by 21,1%, reaching the level of euro 4,1 m. from euro 3,4 m. that were in the respective last year's period. Moreover, EBITDA reached euro 5,6 m., showing an increase of 21,4% as compared to the nine month period last year. This major increase can be attributed to the increase in Revenues and to the improvement of the gross margin ratio. Thereby:

- The Turnover reached euro 19,6 m. risen by 20,2%, as compared to 2003. The new articles of ice-cream and yogurt products that were launched in 2004 had a major contribution to this rise.

- The Gross Profit Margin increased to 49,9% from 47,1% in 2003, as a result of the investments in buildings and machinery equipment, and also of the management's effort to reduce production cost.

The consolidated results present a similar picture. In a consolidated level, the Earnings before taxes show an increase of 22,2%, reaching the level of euro 4,28 m., whereas the EBITDA reached euro 5,9 m. from euro 4,7 m. in the nine month period of 2003 (an increase of 25%). Finally, the consolidated Turnover was euro 20,95 m., showing an increase of 19,6% as compared to the respective period of 2003.

It is worth saying that KRI-KRI S.A., during the current year, has invested euro 5 m. mainly to buildings and machinery equipment, while the debt to banks remained to zero.

Relatively to the above-mentioned results, it has to be underlined that they are not representative of the yearly results, due to the seasonality of the group's products and especially ice-cream.