Increase of 26.9% in Group turnover for Attica Enterprises and net profit of Euro 10.3 mln with increased depreciation charges by 85.7%

Τhe Board of Directors of Attica Enterprises S.A. wishes to announce the financial results for the year 2001 for the Attica Enterprises Group which show consolidated sales of Euro 250.6 mln, an increase of 26.9% over sales of Euro 197.4 mln in 2000, and net profit after interest, depreciation and taxes of Euro 10.3 mln over Euro 17.3 mln in 2000.

Group turnover includes revenues from fares and other income derived from Superfast Ferries and Blue Star Ferries. In the course of 2001 Superfast V, Superfast VI, Superfast VII and Superfast VIII were added to the Attica Enterprises fleet the first two having been deployed since mid-February and mid-April 2001 on the Adriatic Sea routes, while Superfast VII and Superfast VIII entered service in the Superfast Ferries Baltic Sea routes since May and July 2001 respectively. It should be noted that compared to 2000, the Group’s financial results include depreciation charges of Euro 24.7 mln compared to Euro 13.3 mln in 2000 and net financial expenses of Euro 30.2 mln over Euro 9.4 mln in 2000.

In the Adriatic trade between Greece and Italy, Superfast Ferries ranked first for the fourth running year in the transportation of passengers and commercial vehicles competing among 40 ships operating in those routes.

Superfast Ferries Traffic 2001 +/- vs 2000 Μarket share*
Passengers 695,528 + 7.4% 27.7%
Trucks 118,023 +11.8% 28.4%
Private vehicles 119,311 - 2.7% 22.5%

* Source: Greek Port Authority

Strintzis Lines Shipping S.A. posted sales in 2001 of Euro 107.7 mln a 8.2% increase over 2000 and net profit of Euro 3.9 mln over Euro 1.8 mln in 2001, an increase of 118.2%.

In the domestic and the Greece – Italy routes, Strintzis Lines carried in total in 2001 2,547,766 passengers, 374,865 private vehicles and 138,956 trucks, of which Blue Star ferries on the Greece – Italy routes carried:

Blue Star Ferries Traffic 2001 +/- vs 2000 Μarket share*
Passengers 479,138 - 4.5% 17.1%
Trucks 74,584 - 4.2% 18.2%
Private vehicles 105,772 0% 17.1%

* Source: Greek Port Authority

On the new Baltic Sea service, Superfast VII and Superfast VIII carried 69,267 passengers, 14,786 trucks and 29,189 private vehicles in the sea route between Germany and Finland. These results are so far considered satisfactory for a brand new route.

In the first two months of 2002, Attica Enterprises has taken delivery of Superfast IX and Superfast X, which launched the Germany – Sweden service while the Group expects the delivery of Superfast XI and Superfast XII within the first half of 2002.

Superfast Ferries as of May 2002, will inaugurate a new two-ship direct ferry service between Rosyth in Scotland and Zeebrugge in Belgium. With the new Superfast service, Scotland will be directly linked to mainland Europe with daily overnight crossings between Rosyth and Zeebrugge employing a journey time of only about 17 hours. It should be reminded that in September 2000, following extensive assessment by a steering Group established by Scottish Enterprise, Superfast Ferries was selected among 42 expressions of interest to operate the first direct service between Scotland and the European Continent with a pair of modern and fast car-passenger ferries.

In addition, ultramodern car-passenger ferries Blue Star Paros and Blue Star Naxos of Strintzis Lines are in the final stage of construction at Daewoo Shipyards in Κοrea. Τhese vessels will be delivered in the second quarter of 2002 and they will be deployed in the domestic ferry market.

Voula, 27th February, 2002

Τhe Board of Directors

For more information please contact:
Mr. Yannis Criticos,
Attica Enterprises S.A.,
Τel: +3010 891 9500,
Fax : +3010 891 9509,