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Investor Relations : Financial Highlights |
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2001
PROFIT AND LOSS ACCOUNT
ATTICA ENTERPRISES S.A. - GROUP OF COMPANIES
PROFIT AND LOSS ACCOUNT
AS AT 31st DECEMBER 2001 |
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2001
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2000
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IN GRD
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IN EURO
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IN GRD
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IN EURO
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RESULTS FROM EXPLOITATION
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Total turnover
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85,378,069,377
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250,559,264.50
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67,276,661,638
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197,437,011.41
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Less: Direct exploitation costs
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62,047,157,594
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182,089,970.93
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45,553,035,271
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133,684,622.95
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Gross profit from exploitation
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23,330,911,783
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68,469,293.57
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21,723,626,367
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63,752,388.46
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Plus: Sundry income
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151,408,731
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444,339.64
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116,117,905
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340,771.55
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Total gross profit from exploitation
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23,482,320,514
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68,913,633.21
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21,839,744,272
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64,093,160.01
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Less: Expenses
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Administration expenses
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4,720,855,613
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13,854,308.48
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3,837,713,215
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11,262,547.95
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Operating and distribution expenses
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10,142,558,085
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29,765,394.23
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7,785,250,010
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22,847,395.48
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14,863,413,698
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43,619,702.71
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11,622,963,225
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34,109,943.43
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Operating profit
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8,618,906,816
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25,293,930.50
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10,216,781,047
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29,983,216.57
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Other income/expenses
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Income from participations
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7,394,400
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21,700.37
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455,702,940
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1,337,352.72
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Income from securities
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79,424,590
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233,087.57
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0
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0.00
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Profit from sale of investments and
securities
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113,065,524
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331,813.72
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0
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0.00
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Interest income
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842,225,677
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2,471,682.10
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2,172,379,961
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6,375,289.69
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Interest expense
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-11,329,278,061
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-33,248,064.74
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-5,814,481,979
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-17,063,776.90
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-10,287,167,870
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-30,189,780.98
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-3,186,399,078
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-9,351,134.49
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Extraordinary income:
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Extraordinary income
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6,771,445,266
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19,872,179.80
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3,784,924,117
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11,107,627.64
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Extraordinary profit
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1,600,000
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4,695.52
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-
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-
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Prior year income
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84,010,340
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246,545.39
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31,996,132
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93,899.14
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Income from prior year provisions
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1,495,831
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4,389.82
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4,960,110
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14,556.45
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6,858,551,437
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20,127,810.53
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3,821,880,359
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11,216,083.23
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Less:Extraordinary expenses:
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Extraordinary expenses
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-228,076,005
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-669,335.30
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-240,197,161
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-704,907.30
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Extraordinary costs
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-703,232,639
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-2,063,778.84
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-3,225,000
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-9,464.42
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Prior year expenses
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-73,717,709
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-216,339.57
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-37,862,275
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-111,114.53
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Sundry provisions
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-
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-
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-106,366,027
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-312,152.68
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-1,005,026,353
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-2,949,453.71
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-387,650,463
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-1,137,638.91
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Profit including extraordinary
items
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4,185,264,030
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12,282,506.34
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10,464,611,865
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30,710,526.40
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Total depreciation of fixed
assets
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8,417,242,253
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24,702,104.92
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8,764,898,878
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25,722,373.81
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Less: Depreciation included in
exploitation costs
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-8,417,242,253
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-24,702,104.92
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-4,522,041,314
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-13,270,847.58
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-
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-
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4,242,857,564
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12,451,526.23
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Net profit for the year
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4,185,264,030
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12,282,506.34
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6,221,754,301
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18,259,000.17
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Less: Minority interest
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-685,954,315
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-2,013,072.09
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-314,264,286
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-922,272.30
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Net consolidated profit for the year
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3,499,309,715
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10,269,434.25
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5,907,490,015
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17,336,727.87
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Voula, 11th April, 2002
Pericles S. Panagopulos
Chairman
of the Board of Directors |
Alexander P. Panagopulos
Vice Chairman
of the Board of Directors |
George V. Karydis
Financial Director |
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REPORT OF THE CERTIFIED PUBLIC ACCOUNTANTS
To the Shareholders of ATTICA ENTERPRISES S.A. and its subsidiaries
We have audited, in accordance with the provision of article 108 of Company Law 2190/1920, the tenth consolidated Balance Sheet and the Consolidated Profit and Loss Account, as well as the related Notes of Attica Enterprises S.A. and its subsidiaries for the year ended 31 December 2001. We applied the auditing procedures which we deemed necessary for the purpose of our audit and which are in accordance with the principles and standards of auditing of the Institute of Certified Public Accountants of Greece and we verified the contents of the Consolidated Directors´ Report with the related Consolidated Financial Statements. The following matters resulted from our audit: 1. In December 1998, the Competition Committee of the European Commission imposed a fine on the STRINTZIS LINES SHIPPING S.A. Group of Companies in accordance with a first instance court decision. The fine which was imposed refers to the period of 1987-1993 and amounts to Drs 500 million approximately. No provision has been made for this amount because the Group is disputing this decision and have already appealed to the European Court . The outcome of the case is presently uncertain. 2. Strintzis Lines Shipping S.A. and its subsidiaries companies of the Group have not been audited by the tax authorities for the years 1999-2001, with the exception of BLUE STAR FERRIES MARITIME S.A. which has not been audited for the years 1993-2001, and their taxation liability has not, therefore, become definite. In our opinion, subject to the effects of the matters referred to above(1), the Consolidated Financial Statements have been prepared with the provisions of Company Law 2190/1920 and present in accordance to the related statutes and the accounting methods and principles which are applied by the Mother Company and which have been generally accepted and do not differ from those applied in the previous year, the property structure, the financial position and the results of all the companies which are included in the consolidation of 31 December 2001.
Athens , 12 April 2002
The Certified Public Accountants
Athos Stylianou, FCCA , CA (Gr)
DRM STYLIANOU S.A.
A Member Firm of RSM International
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