MLS Multimedia SA for the seventh consecutive year has achieved a two-figure growth concerning its turnover and the net profits before taxes. More specifically for the year 2002 the turnover of the parent company increased by 15% and amounted to euro 3,41million. The net profits before taxes showed an increase of 13% and amounted to euro 1,68 million. The net profits after taxes increased by 15% and amounted to euro 1,55 million.

The company has no banking borrowing, its direct liquidity rate amounts to 2,61 and the general liquidity rate amounts to 3,54. The shareholders equity return amounted to 17% while the rate of net profits to turnover amounted to 49%. The total profit growth after taxes the last five years amounted to 369% (with an average increase of 49% per year). The consolidated profits before taxes and minority interest amounted to euro 1,8 million increased by 18%, the consolidated sales amounted to euro 3,6 million and the consolidated profits before taxes and after minority interest amounted to euro 1,77 million.

Νea Media, a subsidiary company, appears at this year's consolidated statements by applying the method of the participation at the net asset and not the method of total consolidation (due to the not proper completion of its financial data). As a result, the New Media sales and profits are not included in the consolidated statements for the current fiscal year. In case someone compares the profits before taxes and minority interest of the previous year (including Nea Media) with this year's profits before taxes and minority interest there is an increase of 12%.

Despite the market crisis (the retail commerce included) and the luck of important IT projects during the year 2002, the company succeeded in growth due to the exploitation of innovative applications that were launched to the market, as a result of heavy investment to the R&D department. Further to the company's core activity, i.e. multimedia development and e-learning services, the company for the very first time launched during the last two months of 2002 a series of innovative applications based on voice recognition and machine translation technologies, and enjoyed the first returns of its investments to the language engineering technology, while the company anticipates such a return from its investments to the artificial intelligence technology sometime during 2003.

For the year 2003, MLS is expecting significant revenues from the exploitation of the results of the research projects it participates. More specifically it is expected that the professional edition of the machine translation will be available till March 2003, the voice recognition application for telephone (mobile and plain) will be available during the first semester and a whole series of innovative applications will be launched during the year. Furthermore, MLS is expecting to yield considerable benefits from its participation to numerable projects in the context of the 3rd EC Support Framework. Finally, MLS has accomplished commercial contacts in the Arab speaking countries aiming to the development of voice recognition applications for the Arabic language.