PRESS RELEASE
The consolidated balance sheet of SANYO HELLAS HOLDING S.A. for the year 2000 closed without the participation of ?ATLANTIK SUPERMARKETS S.A.?, ?MOUSIKOEKDOTIKH S.A.? and the companies of production of digital technology in Komotini , (ARCADIA, SUNLIGHT, ALFADISK, PASSCARD). These companies will be included in the amounts of the financial year 2001 following the relevant approval of Competition Committee. Likewise, the construction company BARTEX S.A. was not included, as there was no activity in year 2000.In the consolidated balance sheet are included the following companies: SANYO HELLAS TRADING S.A., ( CLUB ELECTRIC S.A. is consolidated in it), SANYOCOM S.A., EXPLOINVEST LTD, PISIMISIS S.A., ALMAKO S.A., MAGNITIKI TOMOGRAPHIA S.A., PRAXIS S.A., NORTEC S.A., EPIFANIA S.A., (LEON & PARTNERS S.A. and STEFI FILMS S.A. are not included for year 2000, though they will be for year 2001), SILICON TECHNOLOGIES S.A., COURVA S.A., FEELING JEWELS S.A. AGELCO S.A., and KAFESTIATORIA NEON S.A., ( which will not be included in balance sheet of 2001, since it is absorbed by GREGORIS MIKROGEVMATA S.A.).The consolidated turnover was totaled to 79 billion drachmas for the financial year 2000 while for year 1999 amounted 41,6 billion drachmas (increase 90%). Gross consolidated operation results in 2000 were 19,2 billion drachmas while in 1999 were 9,8 billion drachmas (increase 96%). Group's financial results of 2000, in which loss and profits from securities sales are included, came up to 0,17 billion drachmas, while in 1999 reached 4,32 billion drachmas. Therefore, Total Net Results prior taxes of the Group for financial year 2000 were limited to 7,34 billion drachmas, while 8,067 bil. Dra in 1999 and the Group's Net Consolidated Profits after the abstraction of proportion of minority rights totaled to 4 bil. Dra , while totaled to 4,6 bil. Dra in 1999.It is noted that the companies that were not consolidated in results of 2000 and will be in 2001 results, would add to turnover 84 bil. Dra and would increase the Total Net Profits at 2,5 bil. Dra approximately. Also, in results can not be imprinted results of strategic participations, such as foreign companies PLAST in Ukraine and TORM in Denmark. (Specifically it is noted that TORM's Prior to taxes Profits amounted in 2000 to 38 million USD).Parent Company did not proceed to valuation of its portfolio in 31/12/2000, given that such an action would present an distrorted and unfair view, due to the fact that Group includes 35 companies of which only 4 are listed in Athens Stock Exchange. Furthermore, year 2000 was a transitional period, and consequently that led to non-depreciated expenses of long-term depreciation at the amount of 5,5 billion drachmas, parent company did not effect any depreciation which would burden in a disproportionate way the results, before the respective returns would form, while they do not provide pro rata taxation advantages due to the nature of company's proceeds. Following company's transformation program into Holding, company reduced by 61% its turnover from trade activity which was limited to 1,1 bil drachmas. Net Results of parent company totaled to 2 bil drachmas while in 1999 were 2,5 bil. Dra.It should be taken into consideration, as the Company's management has announced that from December and during year 2001, company's incorporate planning will take action in mergers and supplementary acquisitions, as well as, investment programs will be carried out for subsidiaries. (Already, the transformation of ?EPIFANIA S.A. to MARFINCOMM has been stated, the absorption of NEON by GREGORIS MIKROGVMATA, the establishment and the investment of ?ARCADIA GROUP? in Komotini, investment programmes of ?MAGNITIKI TOMOGRAFIA S.A.? and ?COURVA S.A.?, and ventures of ?ATLANTIK SUPERMARKETS S.A.? etc). Besides, six of Group's companies are presumed to draw funds after their entrance to Athens Stock Exchange in 18 months time, while these companies have submitted all necessary documentation for this purpose.Finally, in 2001 is expected the elaboration of REAL ESTATE project, budgeted to 19,5 billion drachmas, and has been submitted to EOT. This project concerns the construction of luxurious hotels along Kifissias Avenue, Maroussi District.
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