Parent Company
General Turnover of parent company reached euro 116,9 million versus euro 109,4 million in 2001, increased by 6,9%.
Gross operating profit remained at the same level as in 2001, i.e. euro 20,8 million due to the increase of the cost of goods by 1,3 p.p.
Operating profit reached euro 4,7 million compared to euro 5,5 million in 2001, decreased by 13,9% mainly due to the increased selling & distribution costs by 9,4% versus 2001.
Earnings before interests, taxes and depreciation reached euro 6,2 million compared to euro 7,0 million in 2001, decreased by euro 0,8 million or ·11,4%.
Earnings before taxes reached euro 4,0 million compared to euro 5,3 million last year, decreased by euro euro 1,3 million or ·24,7%.
Total capital and reserves reached euro 52,5 million versus euro 51,2 the previous year.

Group
Consolidated general turnover was increased by 21,6% compared to 2001, reaching euro 172 million versus euro 141,5 million in 2001.
Consolidated operating profit reached euro 6,5 million compared to euro 5,3 in 2001, increased by euro 1,2 million or 21,7%.
Consolidated earnings before interests, taxes and depreciation reached euro 10,5 million compared to euro 7,0 million in 2001, increased by euro 3,5 million or 50%.
Consolidated earnings before taxes reached euro 5,2 million compared to euro 3,0 million in 2001, increased by euro 2,2 million or 70,6%.
Net consolidated earnings for year 2002, reached euro 3,2 million compared to euro 1,4 million in 2001, increased by euro 1,8 million or 137,5%.
The consolidated financial statements include the financial statements of the subsidiaries ?FIELD SA AGENCIES-TRADING-DISTRIBUTION?, ?LOGISTICS SERVICES HELLAS SA?, ELGEKA (CYPRUS) LTD?, ‘‘VIOTROS FOOD INDUSTRY A.B.E.E.'', ‘‘PAPADIMITRIOY X.K. LTD. MANUFACTURING FOOD COMPANY'', "SAMBROOK S.A.", "SABROOK MEDICAL DETAILING SERVICES" and "MEDIHELM Ltd". Regarding ELGEKA FERFELIS ROMANIA SRL (ex ELGEKA ROMANIA SRL) it is noted that it was a subsidiary company until 30/06/2002 when it was merged with a similar company in Romania and the participation of the Group in it was decreased below 50% and ever since this company is considered as related company. Thus its results until 30/6/2002 are full consolidated whilst for the period from 1/7/2002 until 31/12/2002 its financial statements are consolidated using the equity method.

The main reasons for the earnings decrease of the parent company in 2002 are the cost of goods increase, the increase of sales of lower profit goods, and the increase of selling and distribution costs. Concerning the last quarter of 2002, company's sales were in lower than the expected level due to the general unfavorable business climate in the market.

Regarding the subsidiaries companies, their progress and results for year 2002 are estimated positive since their targets for reorganization and rationalization have been realized, contributing substantially to the totally increased Group's results. Both VIOTROS A.B.E.E. and SAMBROOK S.A. came to profits while L.S.H. S.A. reduced its losses to euro 117.262 from euro 499.857 last year. ELGEKA FERFELIS ROMANIA SRL, from the beginning of its operation the second semester of 2002, entered into a positive course.