Review Group invoiced sales during the period 1st January to 31st December increased by 25%, to 13,8 bio GRD (11 bio in 1999). Total Group sales increased to 15,9 bio GRD (12,3 bio in 1999). Net profit before tax also increased to GRD 1,206 million (595 million in 1999). This profit includes an extraordinary gain of GRD 240 million from the sale of unused real estate. Profit without this extraordinary increased by 62% compared to 1999. Petrogen Business Unit sales increased by approximately 10% over 1999, driven by the telecommunications, media and IT sectors. Outboards and Boats Business Unit increased its sales by about 20%, as planned. Truck and Bus Business Unit sales increased by about 30% over 1999. A once-off sale of special trucks contributed significantly to this increase. Light Vehicle and Diesel Engines Business Unit almost trebled its sales compared to 1999, having successfully incorporated the activities of MEKMOTORS HELLAS (Ruggerini engines), which was acquired in the first quarter of the year. Sales of the Industrial and Construction Equipment Business Unit increased by about 50% over 1999, as planned.Summary Consolidated Profit & Loss Statement (in 000 GRD)
Summary Balance Sheet items (in .000 GRD)
Dividend The Board of Directors of the parent Company, Petros Petropoulos AEBE, will recommend to the Shareholders' Annual Assembly on April 25th a dividend distribution of 50 GRD per share (20 GRD in 1999).Prospects for 2001 Sales and profits from operations before tax are expected to increase by about 5-10% over 2000. The Company was established in Thessaloniki in 1922. It manufactures, modifies, distributes and supports a wide range of automotive products including automobiles, trucks, buses, generating sets, diesel engines, boats, outboard engines, earthmoving and industrial equipment. The Company has a leading position in the Greek market in each branch of its activity. For further information, please contact Ms. Athina Tsiaga, tel.: 30 1 3499211.