Further to the clarifying directive no.118ΑP/23-3-2006 of the Accounting and Auditing Supervisory Board, and the announcement of the Capital Market Commission as of March 24, 2006 on the annual financial data, and information as of December 31, 2005 which was publicized on January 31, 2006, the Company announces the following:
The sums of balance sheets and results, as published in the interim financial statements, have been modified after the change in the accounting standard relating to the assessment mode of real estate investments. As a result of the above change in the assessment mode of real estate investments, the company's net worth and results, included in the publicized interim financial statements, are affected and finalized as follows (amounts in thousands of Euro):
Increase in the company's net worth on 31.12.2003 (01.01.2004)
Total adaptations in the amount of 9,409.
According to the above corrections it results that the company's net worth on 01.01.2004 is 80,141 instead of 70,732, while the net worth on 01.01.2005 is 82,338 instead of 72,967.
Decrease in the company's results in the period 01.01.2004-31.12.2004
Total adaptations in pre-tax results in the amount of 310.
Total adaptations in after-tax results in the amount of 39.
According to the above corrections it results that the company's pre-tax results on 31.12.2004 are finalized at 6,688 instead of 6,727.
Moreover, corrections and adaptations were made to the company's net worth and results in the 1st, 2nd and 3rd quarter of 2004 and 1st, 2nd and 3rd quarter of 2005 as follows:
3.a) The company's new net worth on 31.03.2004 is 81,372 instead of 71,963. The company's new net worth on 31.03.2005 is 83,268 instead of 75,274.
b) The company's new net worth on 30.06.2004 is 78,150 instead of 68,740. The company's new net worth on 30.06.2005 is 102,365 instead of 94,371.
c) The company's new net worth on 30.09.2004 is 79,761 instead of 70,352. The company's new net worth on 30.09.2005 is 103,821 instead of 95,827.
4.a) The company's after-tax earnings on 31.03.2004 remain unchanging.
On 31.03.2005 the company's after-tax earnings are 929 instead of 2,306, and therefore earnings per share are 0.02 euro instead of 0.03 euro.
b) The company's after-tax earnings on 30.06.2004 remain unchanging.
On 30.06.2005 the company's after-tax earnings are 1,915 instead of 3,292, and therefore earnings per share are 0.05 euro instead of 0.09 euro.
c) The company's after-tax earnings on 30.09.2004 remain unchanging.
On 30.09.2005 the company's after-tax earnings are 3,382 instead of 4,759, and therefore earnings per share are 0.08 euro instead of 0.11euro.
The above modifications, which refer to the 1st quarter of 2005 and the 1st quarter of 2004, are included in detail in note 25 of the finalized interim financial statements of 31.3.2006, which are displayed on the company's webpage.