Investor Relations | Yalco S.D.Constantinou & Son S.A.

2017 FINANCIAL RESULTS

Sales of the group reached the amount of €15.543 th. versus €22.801 th. in the corresponding period of 2016, while sales of the parent company reached the amount of €14.978 th. versus €17.168 th. in the corresponding period of 2016.

Parent pre-tax loss amounted to €14.537 th. from the the pre-tax profits amounted to €2.670 th. in the corresponding period of 2016. At Group level, the corresponding loss reached €14.389 th. versus the profits of €2.337 th. of 2016.

FIRST HALF 2017 RESULTS

Sales of the group reached the amount of €8.624 th. versus €13.012 th. in the corresponding period of 2016, while sales of the parent company reached the amount of €8.324 th. versus €9.987 th. in the corresponding period of 2016.

Parent pre-tax loss amounted to €1.942 th. from €1.473 th. in the corresponding period of 2016. At Group level, the corresponding losses reached €1.908 th. versus €1.309 th. of 2016.

2016 FINANCIAL RESULTS

Sales of the group reached the amount of €22.801 th. versus €23.299 th. in the corresponding period of 2015, while sales of the parent company reached the amount of €17.168 th. versus €17.630 th. in the corresponding period of 2015.

Parent pre-tax profits amounted to €2.334 th. from the the pre-tax loss amounted to €3.852 th. in the corresponding period of 2015. At Group level, the corresponding profits reached €4.083 th. versus the losses of €3.732 th. of 2015.

FIRST HALF 2016 RESULTS

Sales of the group reached the amount of €13.012 th. versus €13.463 th. in the corresponding period of 2015, while sales of the parent company reached the amount of €9.987 th. versus €10.610 th. in the corresponding period of 2015.

Parent pre-tax loss amounted to €1.473 th. from €1.280 th. in the corresponding period of 2015. At Group level, the corresponding losses reached €1.309 th. versus €1.075 th. of 2015.

2015 FINANCIAL RESULTS

Sales of the group reached the amount of €23.299 th. versus €24.425 th. in the corresponding period of 2015, while sales of the parent company reached the amount of €17.630 th. versus €19.723 th. in the corresponding period of 2015.

Parent pre-tax loss amounted to €3.852 th. from €4.042 th. in the corresponding period of 2015. At Group level, the corresponding losses reached €3.731 th. versus €4.1003 th. of 2015.

NINE MONTHS 2015 RESULTS

Sales of the group reached the amount of €17.924 th. versus €18.682 th. in the corresponding period of 2014, while sales of the parent company declined to €13.668 th.

Parent pre-tax loss amounted to €2.404 th.from €2.426 th. in the corresponding period of 2014. At Group level, the corresponding losses reached €2.082 th.versus €2.184 th.in the corresponding period of 2014.

FIRST HALF 2015 RESULTS

Sales of the group reached the amount of €13.463 th. versus €13.173 th. in the corresponding period of 2014, while sales of the parent company declined to €10.610 th.

Parent pre-tax loss amounted to €1.280 th.from €1.318 th. in the corresponding period of 2014. At Group level, the corresponding losses reached €1.075 th.versus €1.124 th.in the first half of 2014.

FIRST QUARTER 2015 RESULTS

Sales of the group reached the amount of €5.417 th. versus €5.746 th. in the corresponding period of 2014, while sales of the parent company reached the amount of €4.258 th. versus €4.729 th. in the corresponding period of 2014

Parent pre-tax loss amounted to €1.141 th. from €1.058 th. in the corresponding period of 2014. At Group level, the corresponding losses reached €1.042 th. versus €1.038 th. of 2014.

2014 FINANCIAL RESULTS

Sales of the group reached the amount of €24.425 th. versus €26.017 th. in the corresponding period of 2013, while sales of the parent company reached the amount of €19.723 th. versus €21.172 th. in the corresponding period of 2013

Parent pre-tax loss amounted to €4.042 th. from €4.639 th. in the corresponding period of 2013. At Group level, the corresponding losses reached €4.103 th. versus €4.442 th. of 2013.

NINE MONTHS 2014 RESULTS

Sales of the group reached the amount of €18.683 th. versus €19.685 th. in the corresponding period of 2013, while sales of the parent company declined to €15.154 th.

Parent pre-tax loss amounted to €2.426 th.from €3.447 th. in the corresponding period of 2013. At Group level, the corresponding losses reached €2.184 th.versus €3.326 th.in the first half of 2013.

FIRST HALF 2014 RESULTS

Sales of the group reached the amount of €13.173 th. versus €13.451 th. in the corresponding period of 2013, while sales of the parent company declined to €10.799 th.

Parent pre-tax loss amounted to €1.318 th.from €2.398 th. in the corresponding period of 2013. At Group level, the corresponding losses reached €1.124 th.versus €2.360 th.in the first half of 2013.

FIRST QUARTER 2014 RESULTS

Sales of the group reached the amount of €5.746 th. versus €5.993 th. in the corresponding period of 2013, while sales of the parent company reached the amount of €4.729 th. versus €5.044 th. in the corresponding period of 2013

Parent pre-tax loss amounted to €1.058 th. from €1.520 th. in the corresponding period of 2013. At Group level, the corresponding losses reached €1.038 th. versus €1.528 th. of 2013.

2013 FINANCIAL RESULTS

Sales of the group reached the amount of €26.017 th. versus €28.354 th. in the corresponding period of 2012, while sales of the parent company reached the amount of €21.172 th. versus €23.629 th. in the corresponding period of 2012

Parent pre-tax loss amounted to €4.639 th. from €6.806 th. in the corresponding period of 2012. At Group level, the corresponding losses reached €4.442 th. versus €6.426 th. of 2012.

NINE MONTHS 2013 RESULTS

Sales of the group reached the amount of €19.685 th. versus €21.841 th. in the corresponding period of 2012, while sales of the parent company declined to €16.058 th.

Parent pre-tax loss amounted to €3.447 th.from €4.275 th. in the corresponding period of 2012. At Group level, the corresponding losses reached €3.326 th.versus €4.449 th.in the first half of 2012.

FIRST HALF 2013 RESULTS

Sales of the group reached the amount of €13.452 th. versus €14.908 th. in the corresponding period of 2012, while sales of the parent company declined to €11.219 th.

Parent pre-tax loss amounted to €2.398 th.from €3.002 th. in the corresponding period of 2012. At Group level, the corresponding losses reached €2.360 th.versus €3.044 th.in the first half of 2012.

FIRST QUARTER 2013 RESULTS

Sales of the group reached the amount of €5.993 million versus €6.595 million in the corresponding period of 2012, while sales of the parent company declined to €5.044 million.

Parent pre-tax loss amounted to €1.520 million from €1.715 million in the corresponding period of 2012. At Group level, the corresponding losses reached €1.528 million versus €1.771 million in the first quarter of 2012.

2012 FINANCIAL RESULTS

Sales of the group reached the amount of €28.254 th. versus €36.721 th. in the corresponding period of 2011, showing decline of 23.06%, while sales of the parent company declined by 25.55% to €23.629 th.

Parent pre-tax loss amounted to €6.627 th. from €5.448 th. in the corresponding period of 2011. At Group level, the corresponding losses reached €6.247 th. versus €5.601 th. of 2011.

NINE MONTHS 2012 RESULTS

Sales of the group reached the amount of €21.841 th. versus €28.952 th. in the corresponding period of 2011, while sales of the parent company declined to €18.373 th. versus €25.076 th. in the corresponding period of 2011.

Parent pre-tax loss amounted to €4.275 th.from €2.999 th. in the corresponding period of 2011. At Group level, the corresponding losses reached €4.449 th.versus €3.043 th.in the corresponding period of 2011.

FIRST HALF 2012 RESULTS

Sales of the group reached the amount of €14.908 th. versus €19.870 th. in the corresponding period of 2011, while sales of the parent company declined to €12.414 th.

Parent pre-tax loss amounted to €3.002 th.from €1.915 th. in the corresponding period of 2011. At Group level, the corresponding losses reached €3.044 th.versus €1.913 th.in the first half of 2011.

FIRST QUARTER 2012 RESULTS

Sales of the group reached the amount of €6.595 million versus €9.192 million in the corresponding period of 2011, while sales of the parent company declined to €5.412 million.

Parent pre-tax loss amounted to €1.715 million from €1.271 million in the corresponding period of 2011. At Group level, the corresponding losses reached €1.771 million versus €1.284 million in the first quarter of 2011.

2011 FINANCIAL RESULTS

Sales of the group reached the amount of €36.72 million versus €43.21 million in the corresponding period of 2010, showing decline of 15.02%, while sales of the parent company declined by 15.52% to €31.7 million.

Parent pre-tax loss amounted to €5.448 million from €11.096 million in the corresponding period of 2010. At Group level, the corresponding losses reached €5.601 million versus €8.739 million of 2010.

NINE MONTHS 2011 RESULTS

Sales of the group reached the amount of ?28,952 million versus ?32,469 million in the corresponding period of 2010

Parent pre-tax loss amounted to ?2,999 million from ?5.096 million in the corresponding period of 2010.

FIRST HALF 2011 RESULTS

Sales of the group reached the amount of ?19.870 million versus ?23.119 million in the corresponding period of 2010, showing decline of 14.05%, while sales of the parent company declined by 12.41% to ?17.517 million.

Parent pre-tax loss amounted to ?1.915 million from ?5.096 million in the corresponding period of 2010. At Group level, the corresponding losses reached ?1.912 million versus ?2.864 million in the first half of 2010.

FIRST QUARTER 2011 RESULTS

Sales of the group reached the amount of €9.192 million versus €11.053 million in the corresponding period of 2010, showing decline of 16.83%, while sales of the parent company declined by 16.11% to €8.197 million.

Parent pre-tax loss amounted to €1.271 million from €3.617 million in the corresponding period of 2010. At Group level, the corresponding losses reached €1.284 million versus €1.296 million in the first quarter of 2010.

2010 FINANCIAL RESULTS

Sales of the group reached the amount of €43.21 million versus €57.72 million in the corresponding period of 2009, showing decline of 25.14%, while sales of the parent company declined by 27.10% to €37.6 million.

Parent pre-tax loss amounted to €11.1 million from €1.1 million in 2009. At Group level, the corresponding losses reached €8.7 million versus €2.0 million in 2009. Most of these losses are non-recurring and relate to restructuring costs, previous years write-downs of the Subsidiaries, which were reflected in the consolidated financial statements of the previous years, and provisions. Moreover, an important part of these costs was non-cash and this is also reflected in the fact that, despite the level of the losses there has not been significant increase in the loans of the Group.

NINE MONTH 2010 FINANCIAL RESULTS

Company sales in the nine-month 2010 period reached ?21.4 million, reduced by 31.9%, while on respective Group level nine-month sales were ?31.9 million, reduced by 25.4%. The decrease in sales derived to a large extent from the reduction of parent company sales, but also from the rationalization of the retail network of Omnishop and the discontinuation of the loss-making activity in Hungary.

The nine-month results of the Company and the Group do not reflect its operational performance given that they do not embed in total the positive results of the implemented restructuring actions, while on the contrary they include their full implementation costs.

FIRST HALF 2010 RESULTS

Sales both at Company and at Group level were significantly affected recording reductions of 27% and 21% respectively to ?15,850 thousands and ?23,119 thousands respectively.
Due to the decrease in sales and despite the significant containment in operating expenses, Group losses after tax widened from -?756 thousands to -?3,029 thousands, while the parent Company recorded losses of -?3,224 from profits of ?653 thousands in the previous corresponding period.

Parent Company losses excluding the loss from the suspension of the activity in Hungary (approximately ?2.4 million) would stand at -?772 thousands. The exit from Hungary is expected to influence operating results positively as of the new year.

FIRST QUARTER 2010 RESULTS

During the first quarter of 2010 Group sales stood at Euro 11.05 million versus Euro 12.5 million in the corresponding period of 2009. After tax results (losses) of the Group were formulated at Euro 1.332 million versus Euro 1.392 million, losses reduced by Euro 60 thousands. Total Group liabilities on 31.03.2010 remained at the levels of the first quarter of 2009 despite the unfavourable economic developments that took place in the quarter.

Sales for the parent company amounted to Euro 7.66 million versus Euro 8.95 million in the first quarter of 2009. Management interventions succeeded in lowering total administrative and selling costs, leading to pre & after tax results of the parent company, before costs for discontinuing operations of the subsidiary in Hungary, to exhibit improvement compared to the 1st quarter of 2009.

2009 FINANCIAL RESULTS

During the fiscal year 2009 and depsite the decrease in sales by 12.7%, Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) for the Group amounted to Euro 1.4 million, while the debt was reduced by Euro 1.1 million at consolidated level.

The parent company improved its profit before & after tax by 9.2% and 8.9% respectively to Euro 1.6 million and Euro 1.2 million, while sales amounted to Euro 42.1 million. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) amounted to Euro 4.1 million for the parent company while the debt was reduced by Euro 3.2 million at parent company level.

NINE MONTH 2009 FINANCIAL RESULTS

During the nine months of 2009, the Consolidated Turnover of the company "Socrates D. Constantinou & Son S.A. - YALCO" reached 43.52 million Euro while on a parent level Consolidated Turnover reached the amount of 31.46 million Euro. The Groups and the parent Companys Total Liabilities during the nine months of 2009 decreased by 5.9% and 4.2% respectively, amounting to 55.79 million Euro versus 59.27 million Euro for the 2008 and to 37.23 million Euro versus 38.85 million Euro for the 2008 on a parent level.

FIRST HALF 2009 RESULTS

During the first half of 2009, the Consolidated Turnover of company "Socrates D. Constantinou & Son S.A. - YALCO" reached 29.23 million Euro versus 35.44 million Euro for the corresponding period of 2008. The Groups Net Results reached the amount of (0.76) million Euro versus (0,95) thousand Euro presented in the corresponding period of 2008. The Groups Total Liabilities during the first half of 2009 inccreased by 0.54% amounting to 59.59 million Euro versus 59.27 million Euro presented for the 2008. Total Assets for the period amounted to 77.68 million Euro versus 78.54 million Euro for the 2008.

Likewise, on a parent level Turnover reached 21.35 million Euro versus 23.96 million Euro for the corresponding period of 2008. The companys Total Assets for the period increased by 0.2% amounting to 4.23% million Euro versus 64.69 million Euro for the 2008.

FIRST QUARTER 2009 RESULTS

During the first quarter of 2009, the Consolidated Turnover of company "Socrates D. Constantinou & Son S.A. - YALCO" reached 12.51 million Euro versus 15.55 million Euro for the corresponding period of 2008. The Groups Net Results reached the amount of (1.39) million Euro versus (220,97) thousand Euro presented in the corresponding quarter period of 2008. The Groups Total Liabilities during the first quarter of 2009 decreased by 5.71.3% amounting to 58.51 million Euro versus 59.27 million Euro presented for the 2008. Total Assets for the period amounted to 76.57 million Euro versus 78.54 million Euro for the 2008.

Likewise, on a parent level Turnover reached 8.95 million Euro versus 11.01 million Euro for the corresponding period of 2008. The companys Total Assets for the period increased by 0.2% amounting to 64.79 million Euro versus 64.69 million Euro for the 2008.

2008 FINANCIAL RESULTS

During the fiscal year 2008, the Consolidated Turnover of company "Socrates D. Constantinou & Son S.A. - YALCO" amounted to 66.15m Euro against 67.82m Euro in
2007, decreased by 2.5% while sales till September posted an increase of 2.4%. Group pre tax profit reached 37th Euro
compared to 3.61m Euro in 2007. The Groups Total Liabilities during 2008 increased by 28.8% amounting to 59.3 million Euro versus 45.9 million Euro presented for the 2007. Total Assets for the period amounted to 78.5 million Euro versus 66.36 million Euro for the 2007.

Likewise, on a parent level Turnover amounted to 45.12m Euro posting a decrease of
3.6% against an increase of 1.3% during the nine month period of 2008, mainly
attributed by line sales that remained at the same levels as 2007. The companys Total Assets for the period amounted to 64.69 million Euro versus 54.65 million Euro for the 2007.

NINE MONTH 2008 FINANCIAL RESULTS

During the nine months of 2008, the Consolidated Turnover of company "Socrates D. Constantinou & Son S.A. - YALCO" reached 51.69 million Euro versus 50.47 million Euro for the corresponding period of 2007, posting an increase of 2.41%. The Groups Net Results reached the amount of 1.63 million Euro versus 3.19 million Euro presented in the corresponding nine month period of 2007. The Groups Total Liabilities during the nine months of 2008 increased by 26.8% amounting to 58.31 million Euro versus 45.99 million Euro presented for the 2007. Total Assets for the period amounted to 79.66 million Euro versus 66.36 million Euro for the 2007, posting an increase of 20.04%.

Likewise, on a parent level Turnover reached 34.63 million Euro versus 34.18 million Euro for the corresponding period of 2007, posting an increase of 1.33%. The companys Total Assets for the period increased by 17.66% amounting to 65.29 million Euro versus 54.65 million Euro for the 2007.

FIRST HALF 2008 RESULTS

During the first half of 2008, the Consolidated Turnover of company "Socrates D. Constantinou & Son S.A. - YALCO" reached 35.44 million Euro versus 33.47 million Euro for the corresponding period of 2007, posting an increase of 25.30%. The Groups Net Results reached the amount of 0.951 million Euro versus 2.55 million Euro presented in the corresponding six month period of 2007. The Groups Total Liabilities during the first half of 2008 increased by 19.01% amounting to 48.6 million Euro versus 46 million Euro presented for the 2007. Total Assets for the period amounted to 75.4 million Euro versus 66.4 million Euro for the 2007.

Likewise, on a parent level Turnover reached 23.97 million Euro versus 23.1 million Euro for the corresponding period of 2007, posting an increase of 3.76%. The companys Total Assets for the period increased by 13.97% amounting to 62.3 million Euro versus 54.7 million Euro for the 2007.

FIRST QUARTER 2008 RESULTS

During the first quarter of 2008, the Consolidated Turnover of company "Socrates D. Constantinou & Son S.A. - YALCO" reached 15.55 million Euro versus 13.37 million Euro for the corresponding period of 2007, posting an increase of 16.31%. The Groups Net Results reached the amount of (220.97) thousand Euro versus 498.41 thousand Euro presented in the corresponding quarter period of 2007. The Groups Total Liabilities during the first quarter of 2008 increased by 5.7% amounting to 48.6 million Euro versus 46 million Euro presented for the 2007. Total Assets for the period amounted to 68.8 million Euro versus 66.4 million Euro for the 2007.

Likewise, on a parent level Turnover reached 11.0 million Euro versus 11.9 million Euro for the corresponding period of 2007, posting an increase of 1.4%. The companys Total Assets for the period decreased by 4.7% amounting to 57.2 million Euro versus 54.7 million Euro for the 2007..

2007 FINANCIAL RESULTS

During the fiscal year 2007, the Consolidated Turnover of company "Socrates D. Constantinou & Son S.A. - YALCO" reached 67.8 million Euro versus 55.8 million Euro for the corresponding period of 2006, posting an increase of 21.6%. The Groups Net Results reached the amount of 3.6 million Euro versus 2.3 million Euro presented in the corresponding period of 2006 posting an increase of 56.1%. The Groups Total Liabilities during 2007 increased by 12.7% amounting to 46 million Euro versus 40.8 million Euro presented for the full year period of 2006. Total Assets for the period amounted to 66.4 million Euro versus 58.6 million Euro for the corresponding period of 2006.

Likewise, on a parent level Turnover reached 46.8 million Euro versus 43.4 million Euro for the corresponding period of 2006, posting an increase of 7.8%. Fianally, the companys Total Assets for the period reached 54.6 million Euro versus 51.9 million Euro for the 2006.

NINE MONTH 2007 FINANCIAL RESULTS

During the nine months of 2007, the Consolidated Turnover of company "Socrates D. Constantinou & Son S.A. - YALCO" reached 50.47 million Euro versus 40.10 million Euro for the corresponding period of 2006, posting an increase of 25.86%. The Groups Net Results reached the amount of 3.19 million Euro versus 1.04 million Euro presented in the corresponding nine month period of 2006. The Groups Total Liabilities during the nine months of 2007 increased by 16.83% amounting to 47.70 million Euro versus 40.82 million Euro presented for the 2006. Total Assets for the period amounted to 68.36 million Euro versus 58.61 million Euro for the 2006.

Likewise, on a parent level Turnover reached 34.18 million Euro versus 31.38 million Euro for the corresponding period of 2006, posting an increase of 8.92 %. The companys Total Assets for the period increased by 9.28% amounting to 56.66 million Euro versus 51.85 million Euro for the 2006.

FIRST HALF 2007 RESULTS

During the first half of 2007, the Consolidated Turnover of company "Socrates D. Constantinou & Son S.A. - YALCO" reached 33.47 million Euro versus 26.71 million Euro for the corresponding period of 2006, posting an increase of 25.30%. The Groups Net Results reached the amount of 2.07 million Euro versus (79.12)thousand Euro presented in the corresponding six month period of 2006. The Groups Total Liabilities during the first half of 2007 increased by 13.2% amounting to 46.2 million Euro versus 40.8 million Euro presented for the 2006. Total Assets for the period amounted to 65.7 million Euro versus 58.6 million Euro for the 2006.

Likewise, on a parent level Turnover reached 23.1 million Euro versus 21.1 million Euro for the corresponding period of 2006, posting an increase of 9.5%. The companys Total Assets for the period increased by 7.5% amounting to 55.8 million Euro versus 51.9 million Euro for the 2006.

FIRST QUARTER 2007 RESULTS

During the first quarter of 2007, the Consolidated Turnover of company "Socrates D. Constantinou & Son S.A. - YALCO" reached 13.37 million Euro versus 11.16 million Euro for the corresponding period of 2006, posting an increase of 19.83%. The Groups Net Results reached the amount of 498.41 thousand Euro versus 309.47 thousand Euro presented in the corresponding quarter period of 2006. The Groups Total Liabilities during the first quarter of 2007 increased by 3.7% amounting to 42.4 million Euro versus 40.8 million Euro presented for the 2006. Total Assets for the period amounted to 60.6 million Euro versus 58.6 million Euro for the 2006.

Likewise, on a parent level Turnover reached 10.9 million Euro versus 9.4 million Euro for the corresponding period of 2006, posting an increase of 15.8%. The companys Total Assets for the period increased by 2.8% amounting to 53.3 million Euro versus 51.9 million Euro for the 2006.

2006 FINANCIAL RESULTS

During the fiscal year 2006, the Consolidated Turnover of company "Socrates D. Constantinou & Son S.A. - YALCO" reached 55.8 million Euro versus 46.9 million Euro for the corresponding period of 2005, posting an increase of 18.8%. The Groups Net Results reached the amount of 2.3 million Euro versus 514.5 thousand Euro presented in the corresponding period of 2005 posting an increase of 349%. The Groups Total Liabilities during 2006 increased by 8.7% amounting to 40.8 million Euro versus 37.5 million Euro presented for the full year period of 2005. Total Assets for the period amounted to 58.6 million Euro versus 54.6 million Euro for the corresponding period of 2005.

Likewise, on a parent level Turnover reached 43.4 million Euro versus 38.9 million Euro for the corresponding period of 2005, posting an increase of 11%. Fianally, the companys Total Assets for the period reached 51.8 million Euro versus 52.8 million Euro for the 2005.

NINE MONTH 2006 FINANCIAL RESULTS

During the nine month period of 2006, the Consolidated Turnover of company "Socrates D. Constantinou & Son S.A. - YALCO" reached 40.1 million Euro versus 33.1 million Euro for the corresponding period of 2005, posting an increase of 21.2%. The Groups Net Results reached the amount of 1.498 million Euro versus 0.759 million Euro presented in the corresponding quarter period of 2005. The Groups Total Liabilities during the nine month period of 2006 increased by 12.6% amounting to 42.3 million Euro versus 37.6 million Euro presented for the 2005. Total Assets for the period amounted to 59.9 million Euro versus 54.6 million Euro for the corresponding period of 2005.

Likewise, on a parent level Turnover reached 31.4 million Euro versus 27.4 million Euro for the corresponding period of 2005, posting an increase of 14.7%. The companys Total Assets for the period increased by 0.1% amounting to 52.7 million Euro versus 52.6 million Euro for the 2005.

FIRST HALF 2006 RESULTS

During the first half of 2006, the Consolidated Turnover of company "Socrates D. Constantinou & Son S.A. - YALCO" reached 26.7 million Euro versus 22.8 million Euro for the corresponding period of 2005, posting an increase of 16.9%. The Groups Net Results reached the amount of 134.2 thousand Euro versus 488 thousand Euro presented in the corresponding quarter period of 2005. The Groups Total Liabilities during the first half of 2006 increased by 9.4% amounting to 41.1 million Euro versus 37.6 million Euro presented for the 2005. Total Assets for the period amounted to 57.6 million Euro versus 54.6 million Euro for the 2005.

Likewise, on a parent level Turnover reached 15.55 million Euro versus 12.52 million Euro for the corresponding period of 2005, posting an increase of 24.12%. The companys Total Assets for the period increased by 0.16% amounting to 52.67 million Euro versus 52.58 million Euro for the 2005.

FIRST QUARTER 2006 RESULTS

During the first quarter of 2006, the Consolidated Turnover of company "Socrates D. Constantinou & Son S.A. - YALCO" reached 11.16 million Euro versus 10.32 million Euro for the corresponding period of 2005, posting an increase of 0.81%. The Groups Net Results reached the amount of (309.46) thousand Euro versus (66.33) thousand Euro presented in the corresponding quarter period of 2005. The Groups Total Liabilities during the first quarter of 2006 increased by 6.2% amounting to 39.9 million Euro versus 37.5 million Euro presented for the 2005. Total Assets for the period amounted to 56.6 million Euro versus 54.6 million Euro for the 2005.

Likewise, on a parent level Turnover reached 9.4 million Euro versus 8.9 million Euro for the corresponding period of 2005, posting an increase of 4.4%. The companys Total Assets for the period decreased by 0.9% amounting to 52.1 million Euro versus 52.5 million Euro for the 2005.

2005 FINANCIAL RESULTS

During the fiscal year 2005, the Consolidated Turnover of company "Socrates D. Constantinou & Son S.A. - YALCO" reached 46.9 million Euro versus 45.2 million Euro for the corresponding period of 2004, posting an increase of 3.85%. The Groups Net Results reached the amount of 514 thousand Euro versus 2,261 thousand Euro presented in the corresponding period of 2004. The Groups Total Liabilities during 2005 increased by 15% amounting to 37.5 million Euro versus 32.6 million Euro presented for the full year period of 2004. Total Assets for the period amounted to 54.6 million Euro versus 50 million Euro for the corresponding period of 2004.

Likewise, on a parent level Turnover reached 38.9 million Euro versus 37.8 million Euro for the corresponding period of 2004, posting an increase of 2.8%. The companys Total Assets for the period increased by 7.74% amounting to 52.5 million Euro versus 48.8 million Euro for the 2004.

NINE MONTH 2005 FINANCIAL RESULTS

During the nine month period of 2005, the Consolidated Turnover of company "Socrates D. Constantinou & Son S.A. - YALCO" reached 33.1 million Euro versus 33.7 million Euro for the corresponding period of 2004, posting a decrease of 1.73%. The Groups Net Results reached the amount of 759 thousand Euro versus 2,310 thousand Euro presented in the corresponding quarter period of 2004. The Groups Total Liabilities during the nine month period of 2005 increased by 12.6% amounting to 36.7 million Euro versus 32.6 million Euro presented for the 2004. Total Assets for the period amounted to 53.9 million Euro versus 50 million Euro for the corresponding period of 2004.

Likewise, on a parent level Turnover reached 27.3 million Euro versus 28.4 million Euro for the corresponding period of 2004, posting a decrease of 3.81%. The companys Total Assets for the period increased by 7.59% amounting to 52.5 million Euro versus 48.8 million Euro for the 2004.

FIRST HALF 2005 RESULTS

During the first half of 2005, the Consolidated Turnover of company "Socrates D. Constantinou & Son S.A. - YALCO" reached 22.8 million Euro versus 23.4 million Euro for the corresponding period of 2004, posting a decrease of 2.25%. The Groups Net Results reached the amount of 488 thousand Euro versus 1.662 thousand Euro presented in the corresponding quarter period of 2004. The Groups Total Liabilities during the first half of 2005 increased by 11.8% amounting to 36 million Euro versus 32 million Euro presented for the 2004. Total Assets for the period amounted to 53.4 million Euro versus 50 million Euro for the 2004.

Likewise, on a parent level Turnover reached 19.1 million Euro versus 19.9 million Euro for the corresponding period of 2004, posting a decrease of 4.63%. The companys Total Assets for the period increased by 3.14% amounting to 50.3 million Euro versus 48.8 million Euro for the 2004.

FIRST QUARTER 2005 RESULTS

During the first quarter of 2005, the Consolidated Turnover of company "Socrates D. Constantinou & Son S.A. - YALCO" reached 10.3 million Euro versus 10.8 million Euro for the corresponding period of 2004, posting a decrease of 4.63%. The Groups Net Results reached the amount of 89 thousand Euro versus 686 thousand Euro presented in the corresponding quarter period of 2004. The Groups Total Liabilities during the first quarter of 2005 increased by 5.71% amounting to 37 million Euro versus 35 million Euro presented for the 2004.Total Assets for the period amounted to 54.8 million Euro versus 52 million Euro for the 2004.

Likewise, on a parent level Turnover reached 8.9 million Euro versus 9.7 million Euro for the corresponding period of 2004, posting a decrease of 8.25%. The companys Total Assets for the period increased by 2.40% amounting to 51.2 million Euro versus 50 million Euro for the 2004.

2004 FINANCIAL RESULTS

Socrates D. Constantinou & Son S.A. announced its financial results for the period of 2004.Consolidated turnover reached 45.2 million Euro versus 46.9 million Euros for the corresponding period of 2003. Earnings before taxes reached the amount of 2.3 million Euro versus 1.8 million Euro presented in the corresponding period of 2003, posting an increase of 22.22%. The companys Total Liabilities amounted to 31.0 million Euro versus 34.4 million Euro presented in the corresponding period of 2003, noted a decrease of 9.90%. Total Assets for the period amounted to 49.0 million Euro versus 51.6 million Euros for the 2003. Finally the Companys Equity realized an increase of 5.3% and reached the amount of 17.9 million Euro versus 17.0 million Euros during the corresponding period of 2003.

Likewise, on a parent level turnover reached 37.8 million Euro versus 38.7 million Euro for the corresponding period of 2003, posting an increase of 2.33%. Earnings before taxes reached the amount of 2.2 million Euros versus 1.5 million Euro presented in the corresponding period of 2003, presenting an increase of 46.67%. The companys Total Assets for the period amounted to 52.6 million Euro versus 55.5 million Euro during the period of 2003. Finally the Companys Equity realized an increase of 3.42% and reached the amount of 27.2 million Euro versus 26.3 million Euro for the corresponding period of 2003.

NINE MONTH 2003 FINANCIAL RESULTS

Socrates D. Constantinou & Son S.A. announced its financial statements for the third quarter of 2003. Thus, net turnover amounted to 27,886 thousand euros, while net profits before taxes for the third quarter of 2003 reached 2,019 thousand euros,posting an increase of 11.5% from the previous corresponding period.

Total assets amounted to 49,666 thousand euros, while total liabilities amounted to 27,433 thousand euros. Finally, total equity reached 16,968 thousand euros for the third quarter of 2003. We do not give any comparative figures for the third quarter of 2002, as in the financial statements as of 01/01/-30/09/2001 the financial items of assets and Capital & Liabilities of the absorbed VELLIFEST S.A. have been transferred.

NINE MONTH 2004 FINANCIAL RESULTS

Socrates D. Constantinou & Son S.A. announced its financial results for the nine-month period of 2004.Consolidated turnover reached 33.7 million Euro versus 34.3 million Euros for the corresponding period of 2003. Earnings before taxes reached the amount of 2.1 million Euro versus 2.0 million Euro presented in the corresponding nine months period of 2003, posting an increase of 2.13%. The companys Total Liabilities during the first nine months of 2004 amounted to 29.6 million Euro versus 34.9 million Euro presented in the corresponding period of 2003, noted a decrease of 13.49%. Total Assets for the period amounted to 49.9 million Euro versus 53.1 million Euros during the first nine months of 2003. Finally the Companys Equity realized an increase of 10.69% and reached the amount of 16.9 million Euro versus 15.3 million Euros during the first nine months of 2003.

Likewise, on a parent level turnover reached 28.4 million Euro versus 27.9 million Euro for the corresponding period of 2003, posting an increase of 1.98%. Earnings before taxes reached the amount of 2.2 million Euros versus 2.0 million Euro presented in the corresponding nine month period of 2003, presenting an increase of 6.59%. The companys Total Assets for the period amounted to 45.6 million Euro versus 49.3million Euro during the first nine months of 2003. Finally the Companys Equity realized an increase of 8.48% and reached the amount of 18.4million Euro versus 16.9 million Euro during the first nine months of 2003.

FIRST HALF 2004 RESULTS

Socrates D. Constantinou & Son S.A. announced its financial results for the first half of 2004. More specifically, turnover amounted to 23,420 thousand euros, while net pre-tax profits amounted to 1,479 thousand euros.

Total assets reached 52,913 thousand euros, while total liabilities amounted to 33,498 thousand euros. Finally, shareholders equity reached 16,949 thousand euros for the first half of 2004.

FIRST QUARTER 2004 RESULTS

The 1st Q financial results of the listed commercial company "Socrates D. Constantinou & Son S.A. - YALCO" presented significant improvement.
More specifically, according to the financial statement of the parent company, profits before taxes noted an increase of by 7.5% as compared to the 1Q 2003 turnover by 5.2%, respectively.
In particular, during the 1st Quarter of 2004 YALCO realized a turnover of 9,742 million Euros vs. 9,259 million Euros and the profits before taxes increased to 713, 4 million. Euros vs. 665,3 million Euros.

As far as the parent company YALCO is concerned, it should be noted that by the end of April the company will decrease total liabilities by 4.1 million Euros.
As concluded by the financial statement of the 1st Quarter, the parent companys total liabilities have already decreased by 1.6 million Euros to 27.76 million Euros, while the company has increased cash flows by 4,427 million Euros. A part of this amount, 2.5 million Euros will be used for further decrease of its liabilities during April.

2003 FINANCIAL RESULTS

Socrates D. Constantinou & Son S.A. announced its financial results for the fiscal year 2003. More specifically, turnover amounted to 38,756 thousand euros, while net pre-tax profits amounted to 1,493 thousand euros.

Total assets reached 35,586 thousand euros, while total liabilities amounted to 29,371 thousand euros. Finally, shareholders equity reached 26,227 thousand euros for the fiscal year of 2003.

FIRST HALF 2003 RESULTS

Socrates D. Constantinou & Son S.A. announced its financial results for the first half 2003. More specifically, turnover amounted to 19,476 thousand euros, while net pre-tax profits amounted to 1,583 thousand euros.

Total assets reached 50,499 thousand euros, while total liabilities amounted to 28,681 thousand euros. Finally, shareholders equity reached 16,968 thousand euros for the first half of 2003. It must be noted that due to the absorption of VELLIFEST S.A., which was completed on 21/6/2002, the financial statements as of 30/6/2003 are not comparable with the respective statements of the previous period, since figures of the period 1/9/2001-30/6/2002 are included.

FIRST QUARTER 2003 RESULTS

Socrates D. Constantinou & Son S.A. announced its financial results for the first quarter 2003. More specifically, turnover amounted to 9,259 thousand euros, while net pre-tax profits amounted to 665 thousand euros.

Total assets reached 49,689 thousand euros, while total liabilities amounted to 29,371 thousand euros. Finally, shareholders equity reached 16,968 thousand euros for the first quarter of 2003. It must be noted that due to the absorption of VELLIFEST S.A., which was completed on 21/6/2002, the financial statements as of 31/3/2003 are not comparable with the respective statements of the previous period.

2002 FINANCIAL RESULTS

Socrates D. Constantinou & Son S.A. announced its financial results for the fiscal year of 2002. More particularly, turnover amounted to 39,598 thousand euros. The net pre-tax profits amounted to 1,543 thousand euros.

Total assets reached 56,982 thousand euros, while total liabilities amounted to 29,259 thousand euros during the 2002 fiscal year. Finally, shareholders equity reached 25,843 thousand euros. It must be noted that due to the absorption of VELLIFEST S.A., the financial statements as of 31/12/2002 are not comparable with the respective statements of the previous period.

NINE MONTH 2002 FINANCIAL RESULTS

Socrates D. Constantinou & Son S.A. announced its financial statements for the third quarter of 2002. Thus, net turnover amounted to 30,055 thousand euros, while net profits before taxes for the third quarter of 2002 reached 1,792 thousand euros.

Total assets amounted to 61,578 thousand euros, while total liabilities amounted to 30,796 thousand euros. Finally, total equity reached 25,650 thousand euros for the third quarter of 2002. We do not give any comparative figures for the third quarter of 2001, as in the financial statements as of 01/01/-30/09/2002 the financial items of assets and Capital & Liabilities of the absorbed VELLIFEST S.A. have been transferred.

FIRST HALF 2002 RESULTS

As we can see from the financial statements of ?Socrates D. Constantinou & Son S.A. for the first half of 2002, net turnover amounted to 21,130 thousand euro. Net profits before taxes for the first half of 2002 reached 1,411 thousand Euro.

Total assets amounted to 42,774 thousand Euro, while total liabilities amounted to 33,924 thousand euro. Finally, total equity reached 25,650 thousand euro for the fist half of 2002.

We do not give any comparative figures for the first half of 2001, as in the financial statements as of 01/01/-06/30/2002 the financial items of assets and Capital & Liabilities of the absorbed VELLIFEST S.A. have been transferred.

FIRST QUARTER 2002 RESULTS

Socrates D. Constantinou & Son S.A. announced its financial results for the first quarter of 2002. More particularly, turnover amounted to Euro 7.87 million versus Euro 8.11 million in the corresponding period of 2001, noting a decrease of 2,94% percentage points. The net pre-tax profits noted a considerable decrease of 25 percentage points, reaching Euro 675 thousand in the first quarter from Euro 905 thousand in the corresponding period of fiscal year 2001.

Total assets, total liabilities and equity have increased compared to the corresponding last year?s period by 1.99%, 4.20% και 3.4% respectively. More significantly, total assets amounted to Euro 41,135 million versus Euro 40,33 million in the first quarter of 2001, while total liabilities reached Euro 15,022 million from Euro 14,416 million. Additionally, Equity amounted to Euro 22,749 million from Euro 22,003 million in the corresponding last years period.

1998 FINANCIAL RESULTS

Socrates D. Constantinou & Son S.A. announced its consolidated financial results for the fiscal year of 1998. Turnover reached GrD 7.33 billion from GrD 8 billion in 1999 decreased by 8.4% while net pre-tax profits decreased by 45% and amounted to GrD 418 million from GrD 754 million in 1997.

Total assets amounted to GrD 7.17 billion for the fiscal year of 1998 from GrD 7.24 billion in 1997 decreased by 0.1%, total liabilities decreased by 5% and amounted to GrD 4.44 billion for 1999 versus GrD 4,69 billion in the corresponding last years period, while equity reached GrD 2.57 billion from GrD 2.4 billion in 1997.

Socrates D. Constantinou & Son S.A. announced its consolidated financial results for the fiscal year of 1998. More particularly, total turnover on a consolidated level reached GrD 7.87 billion in 1998 versus GrD 8.06 billion in 1997 noting a significant decrease of 47.30%.

Total assets as well as total liabilities on a consolidate level have increased by 2.34% and 12.69% respectively. More specifically, total assets reached GrD 7 billion in 1998 from GrD 6.84 billion in 1997 and total liabilities amounted to GrD 3.99 billion in 1998 from GrD 4.57 in the corresponding last years period. Finally, total equity reached GrD 2.10 billion from 2.097, noting an increase of 0.14%.

1999 FINANCIAL RESULTS

Socrates. Constantinou & Son S.A. announced its financial results for the fiscal year of 1999. Turnover increased by a slight amount of 0.1 percentage points, while net pre-tax profits decreased by 52% turnover for the fiscal year of 1999 reached GrD 7.398 billion versus GrD 7.328 billion in 1998, while net pre-tax profits amounted to GrD 199 million from GrD 418 million in 1998.

Total assets reached GrD 12,93 billion from GrD 7.17 billion increased by 80%, total liabilities amounted to GrD 5.45 billion in 1999. Finally, equity amounted to GrD 7.28 billing from GrD 2.6 billion in 19998, increased by 180% compared to last years fiscal year.

Socrates D. Constantinou & Son S.A. announced the consolidated financial results for the fiscal year of 1999, according to which it accomplished an increase in its financial figures during 1999 compared to the previous fiscal year. In particular, total turnover on a consolidated level increased by 1.65 % reaching GrD 8 billion in 1999 from GrD 7.87 billion in 1998. The consolidated pre-tax profits, after minorities amounted to GrD 128.34 million in 1999 from GrD 399 million in 1998 noting a significant decrease of 67.83%.

Total assets as well as total liabilities on a consolidated level, noted an increase of 83.57% and 44.11% respectively. More specifically total assets amounted to GrD 12.85 billion from GrD 7 billion in 1998 and total liabilities reached GrD 5.75 billion in 1999 from GrD 3.99 billion in 1998. Finally, total equity, reached GrD 6.85 billion from GrD 2,10 billion noting a significant increase of 226.19%

FIRST QUARTER 2000 RESULTS

Socrates D.Constantinou & Son S.A. announced its financial results for the first quarter of the fiscal year 2000 according to which an improvement in its financial figures has been accomplished compared to the corresponding last years period. Turnover reached GrD 2.35 billion from GrD 1.77 billion in 1999 while net pre-tax profits reached GrD million 133 from million 130 in 1999, increased by 1.5%.

Total assets, total liabilities and total equity noted an increase of 87.7%, 43% and 183% accordingly compared to the corresponding last years period of fiscal year 1999. More specifically, total assets amounted to GrD 14.53 billion from GrD 7.74 billion the first quarter of 1999, while total liabilities reached GrD 6.72 billion from GrD 4.7 billion in 1999. Finally, equity increased and reached GrD 7.28 billion versus GrD 2.57 billion in 1999.

Socrates D. Constantinou & Son S.A. announced the consolidated results for the first quarter of the fiscal year 2000 according to which an improvement in the consolidated financial figures has been accomplished compared to the corresponding last years period. Turnover amounted to GrD 2.44 billion in year 2000 versus GrD 1.89 billion in 1999, while the consolidated pre-tax profits, after minorities, reached GrD 160.21 million in 2000 versus GrD 127.41 increased by 29.10% in comparison to the last years results.

Total assets amounted to GrD 18.56 billion in 2000 from GrD 6.74 billion in 1999 and total liabilities showed an increase of 167.22% amounting to GrD 12.96 billion from GrD 4.85 billion in 1999. Total equity reached GrD 4.99 billion versus GrD 2.13 in 1999.

FIRST HALF 2000 RESULTS

As can be seen from the consolidated financial statements of Socrates D. Constantinou & Son S.A. for the first half of year 2000, the Companys financial figures have increased. More particularly, turnover reached GrD 5 billion from GrD 3.72 billion in the corresponding last years period and net pre-tax profits increased by 21.28% during the first half of year 2000 reaching GrD 302 million versus GrD 249 million in the corresponding last years period.

Total assets as well as total liabilities noted an increase of 82.2% and 36% accordingly, compared to the last years period. More specifically, total assets reached GrD 14.43 billion from GrD 7.92 billion during the first half of 1999, while total liabilities amounted to GrD 6.4 billion versus GrD 7.28 billion from GrD 2.57 billion in 1999.

As can be seen from the consolidated financial statements of Socrates D. Constantinou & Son S.A. for the first half of year 2000, the Group has managed to accomplish an increase in its financial figures compared to the first half of 1999fiscal year. More specifically, turnover reached GrD 7.02 billion from GrD 3.98 billion in the corresponding last years period, increased by 76.38 percentage points. The consolidated pre-tax profits, after minorities, have shown an increase of 30.73 % compared to the corresponding last years period and in the first half of 2000 they reached GrD million from GrD 228.71 million in the first half of 1999.

Total assets and total liabilities have noted a dramatic increase of 151.42% and 173.48% respectively in comparison to the last years first half results. More specifically, total assets reached GrD 19.41 billion versus GrD 7.72 billion in the corresponding last years period and total liabilities reached GrD 13.51 billion in 2000 from GrD 4.94 billion in 1999. Total Equity for the first half of 2000 increased by 137.44% and amounted to GrD 5.01 billion compared to the corresponding last years period, when they had reached GrD 2.11 billion.

NINE MONTH 2000 FINANCIAL RESULTS

Socrates D. Constantinou & Son S.A. announced its financial results for the 2000 nine-month period. Turnover reached GrD 6.96 billion from GrD 5.2 billion, increased by 34% compared to the nine-month period of fiscal year 1999. Net pre-tax profits noted a significant increase of 65% reaching GrD 323 million versus GrD 196 million in 1999.

Total assets amounted to GrD 11.95 billion versus GrD 7.57 billion in 1999 and noted an increase of 58% while total liabilities decreased by 11.8% reaching GrD 3,91 billion for the nine month period of 2000, compared to the corresponding period of year 1999 that amounted to GrD 4.43 billion. Finally, equity increased substantially, by 106% and amounted to GrD 7.28 billion from GrD 2.57 billion in 1999.

Socrates D. Constantinou & Son S.A. announced the consolidated financial results for the 2000 nine-month period. Turnover on a consolidated level has noted a significant increase of 87.81% amounting to GrD 10.48 billion versus GrD 5.58 billion in the 1999 nine month period. The consolidated pre-tax profits, after minorities, have reached GrD 234.07 billion in 2000 from GrD 165.87 billion in 1999.

Total assets, total liabilities and total equity have presented an increase in the 2000 nine-month period compared to the 1999 nine-moth period. In particular, total assets reached GrD 16.093 billion in the 2000 nine-month period from GrD 7.36 billion in 1999. Total liabilities, on a consolidated level amounted to GrD 10.28 billion in the 2000 nine-month period versus GrD 4.58 billion in 1999 and total equity almost doubled and reached GrD 5.02 billion in 2000 from GrD 2.71 billion in 1999.

2000 FINANCIAL RESULTS

SocratesD. Constatinou and Son S.A. announced its financial results for the fiscal year of 2000, according to which, a significant increase is observed in the companys financial figures- except for the total assets- compared to the last years period. More specifically, turnover noted an increase of 30.4% reaching GrD 9.65 billion from GrD 7.4 billion in the corresponding last years period. Net pre-tax profits amounted to GrD 621 million versus GrD 199 million during the fiscal year of 1999.

As far as total assets are concerned, we can observe that they reached GrD 12.34 billion versus GrD 12.93 billion during the fiscal year of 1999, while total liabilities reached GrD 4.44 billion from GrD 5.44 billion in 1999. Finally, equity increased by 7.4% reaching GrD 7.48 billion versus GrD 7.28 billion the corresponding last years period.

Socrates D. Constatinou and Son S.A. announced the consolidated financial results for the fiscal year of 2000, according to which, a significant increase is observed in the Groups financial figures compared to the corresponding last years period. More particularly, turnover on a consolidated level increased significantly by 72.5% from GrD 8 billion in 1999 to GrD 13.8 billion in 2000. The consolidated pre-tax profits, after minorities, reached GrD 627.79 million in 2000 from GrD 128.34 million in 1999, noting a significant increase of 16.5% and 51.48% respectively.

More specifically, total assets reached GrD 14.97 billion versus GrD 12.85 billion in 1999 and total liabilities reached GrD 8.71 billion from GrD 5.75 billion. Finally, total equity amounted to GrD 5.188 billion.

FIRST QUARTER 2001 RESULTS

Socrates D. Constantinou & Son S.A. announced its financial results for the first quarter of 2001 according to which turnover reached GrD 2.76 billion for the first quarter of fiscal year 2001 from GrD 2.36 billion in 2000, increased by 17.9% while net pre-tax profits for the particular period increased by 1.34% amounting to GrD 309 million from GrD 132 million in year 2000.

Total assets and total liabilities noted a decrease of 14.14% and 27% accordingly compared to the corresponding last years period. More particularly, total assets amounted GrD 9.53 billion from GrD 11.1 billion in 2000 and total liabilities amounted to GrD 4.91 billion from GrD 6.72 in 2000. Finally, equity reached GrD 7.5 billion from GrD 7.28 in 2000.

Socrates D. Constantinou & Son S.A. announced the consolidated financial results for the first quarter of 2001 according to which an improvement has been accomplished in the consolidated financial figures compared to the ones of the corresponding last years period. Turnover amounted to GrD 3.13 billion, increased by 28.28% from GrD 2.44 billion in 2000, while the consolidated pre-tax profits, after minorities, reached GrD 160.21 million.

Total assets decreased (19.23%) and amounted to GrD 14.99 billion versus GrD 18.56 billion in 2000 and total liabilities decreased by 29.86 % reaching GrD 9.09 billion from GrD 12.96 billion in 2000. Total Equity has increased by 15% and reached GrD 5.14 billion from GrD 4.99 billion in 2000.

FIRST HALF 2001 RESULTS

As can be realized from the consolidated financial statements of Socrates D. Constantinou & Son S.A. for the first half of 2001, the companys turnover reached GrD 5.78 billion (Euro 16.9 million) for the first half of fiscal year 2001 from GrD 5 billion (Euro 14.68 million) the corresponding last years period, increased by 15.6%. Net pre-tax profits for the first half of 2001 more than doubled reaching GrD 630 million (Euro 1.85 million) versus 302 million (Euro 8.87 million)

Total assets noted a slight increase of 1.6%, while total liabilities decreased by 12.7 %. More specifically, total assets reached GrD 14.66 billion (Euro 43 million) from GrD 14.43 (Euro 42.36 million) in 2000, while total liabilities amounted to GrD 5.59 billion (Euro 16.42 million) versus GrD 6.4 billion (Euro 18.77 million/0 the corresponding last years period. Finally, equity reached GrD 7.5 billion (Euro 22 million) from GrD 7.73 billion (Euro 21.35 million) in 2000

As can be realized from the consolidated financial statements of Socrates D. Constantinou & Son S.A. for the first half of 2001, turnover reached GrD 7.54 billion (Euro 22.13 million) versus GrD 7.02 billion (Euro 20.59 million) in the corresponding last years period increasing by 7.4 percentage points. The consolidated pre-tax profits, after minorities, have presented a significant increase of 48.75% compared to the corresponding last years period and amounted to GrD 444.75 million (Euro 1.31 million) in the first half of 2001 from GrD 299 million (Euro 877.49 thousand) in the first half of 2000.

Total assets and total liabilities have noted a decrease of 11.54% and 18.65%respectinely, compared to the last years first half. In particular, total assets reached GrD 17.18 billion (Euro 50.38) in 2001 versus GrD 19.41 billion (Euro 56.96) in the corresponding last years period and total liabilities amounted to GrD 10.99 billion (Euro 32.27 million) in 2001 from GrD 13.51 billion (Euro 39.64 million) in 2000. Total equity for the first half of 2001 increased by 4.19% and reached GrD 5.22 billion (Euro 15.32 million) compared to the corresponding last years period that had reached GrD 5.01 billion.

NINE MONTH 2001 FINANCIAL RESULTS

Socrates D. Constantinou & Son S.A. announced its financial results for the nine-month period of 2001. Turnover reached GrD 7.85 billion (Euro 23.3 million) versus GrD 6.96 billion (Euro 20.43 million) in 2000, increased by 13%. Net pre-tax profits for the company during the nine-month period of 2001 more than doubled and reached the amount of GrD 787 million (Euro 2.31 million) from GrD 323 million (Eurov6.49 million) in 2000.

Total assets increased by 10.5% and reached GrD 9.36 billion (Euro 27.47) for the nine month period of 2001 from GrD 8.47 billion (Euro 24.86 million) the corresponding last years period. Total liabilities amounted to GrD 4.55 billion (Euro 13.55 million) from GrD 3.91 billion in 2000, increased by 16.4%, while Equity noted a small decrease of 3% reaching GrD 7.5 billion (Euro 22 million) versus GrD 7.28 billion (Euro 21.35 million) in year 2000.

Socrates D. Constantinou & Son S.A. announced the consolidated financial results for the nine-month period of 2001. The consolidated turnover has noted a decrease by 2.29% reaching GrD 10.24 billion (Euro 30.05 million) versus GrD 10.48 billion (Euro 30,75 million) in the corresponding last years period. The consolidated pre-tax profits, after minorities, amounted to GrD 455.29 billion (Euro 1.34 million) from GrD 234.07 million (Euro 686.92 thousand) in 2000.

Total assets have presented a small increase of 0.48% in comparison to the corresponding last years period. More particularly, total assets reached GrD 16.17 billion (Euro 47.46 million) versus GrD 16.093 billion (Euro 47.23 million) in the nine-month results of 2000. Finally, total Equity has noted a small increase of 1.79% and amounted to GrD 5.11 billion (Euro 15 million) from GrD 5.02 billion (Euro 14.72 million) in 2000.

2001 FINANCIAL RESULTS

Socrates D. Constantinou & Son S.A. announced its financial results for the fiscal year of 2001. More particularly, turnover amounted to GrD 10.36 billion (Euro 30.39 million) versus GrD 9.65 billion (Euro 28.31 million) in the corresponding period of 2000, noting an increase of 7.36 percentage points. The net pre-tax profits noted a considerable increase of 42 percentage points, reaching GrD 883 million (Euro 2.59 million) from GrD 621 million (Euro 1,82 million) in the corresponding period of fiscal year 2000.

Total assets, total liabilities and equity have increased compared to the fiscal year of 2000 by 7.83%, 7,5% and 1.35% accordingly. More significantly, total assets amounted to GrD 13.21 billion (Euro 38.79 million) versus GrD 12.26 billion (Euro35.98 million) in 2000, while total liabilities reached GrD 4.12 billion (Euro 12.1 million) from GrD 3.83 billion (Euro11.25 million). Additionally, Equity amounted to GrD 7.5 billion (Euro 22 million) from GrD 7.4 billion (Euro 21.73) in the corresponding last years period.

Socrates D. Constantinou & Son S.A. announced its consolidated financial results for the fiscal year 2001. In particular, turnover on a consolidated level amounted to GrD 13.44 billion (Euro 39.45 million) versus GrD 13.8 billion (Euro 40.50 million) in the corresponding last years period noting a decrease of 2.61%. The consolidated pre-tax profits, after minorities, amounted to GrD 530.52 million (Euro 1.56 million) from GrD 627.79 million (Euro1.84 million) in 2000.

Total assets as well as total liabilities were improved by 5.44% and 12.85% accordingly compared to the particular financial figures in fiscal year 2000. Total assets reached GrD 15.77 billion (Euro 46.28 million) in 2001 versus GrD 14,97 billion (Euro 43.94 million) in 2000 and total liabilities reached GrD 9.83 billion (Euro 28.85 million) in 2001 from GrD 8.71 billion (Euro 25.57) in 2000. Finally, Equity amounted to GrD 5.1876 billion (Euro15.22 million) versus GrD 5.188 billion (Euro 15.23 Euro) in the corresponding last years period noting a slight decrease of 0.008%.

Financial Results