The Annual General Meeting was held on 29.6.2004
The Chairman of the Board of Directors Mr. Υannis S. Costopoulos presented the company?s financial performance for the year ending 31.12.2003. As has already been announced, the company posted losses of Euro 6.4 million.
In addition, turnover amounted to Euro 27.2 million from Euro 7.6 million in 2002. This increase is attributed to the gradual reopening of the Athens Hilton Hotel from 11 February 2003 onwards, after 15 months of renovation works, during which the hotel remained closed. As a result, gross operating income improved from losses of 1.4 million in 2002 to losses of Euro 1 million in 2003.
The General Meeting also approved the increase of the share?s nominal value from Euro 3.75 to Euro 8.63 mainly through the capitalisation of real estate surplus reserves.