Turnover Euro 701million (+16.9%)
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) Euro 66.8million (+13.7%)
Net Earnings Euro 46.5million (+17.6%)

GERMANOS Group of Companies demonstrated impressive growth rates in total, thus achieving for yet another quarter high financial performance. Consolidated sales amounted to Euro700.9million, posting an increase of 16.9% with a significant contribution of sales from companies that operate abroad. Specifically, sales from foreign subsidiaries amounted to Euro201million, participating by 27.5% in total sales compared to 19% for the respective period of 2004. As regards to the sales analysis, a significant increase was posted by airtime income, which amounted to Euro51.1million, an improvement by 23.1%. Furthermore, income from sales of mobile telephones increased by 20% and amounted to over Euro61million. A similar trend was also followed by income from digital product sales, which amounted to Euro53.7million (+20%). Sales from the Group's industrial activity also contributed significantly to total sales, with the former reaching Euro40million, that is an increase of 12% compared to 2004. Finally, income from the Distribution of Consumer Products (wholesale activity) posted a 32.7% increase with sales reaching Euro258.2million. Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) followed similar growth rates increasing by 13. The Group's Net Earnings amounted to Euro46.5million, an increase of 17.6%, thus reflecting the Group's acute development. The financial results of the parent Company GERMANOS SA followed similar growth rates, with sales exceeding Euro521million and posting an increase of 10.5%, while EBITDA amounted to Euro57.9million, increased by 8%. Finally, Net Earnings amounted to Euro39.8million, posting an increase of 14.5%. It is worth noting that the Group's consolidated Earnings include the participation in the earnings of HDFS, which in the current 9m period amounted to Euro8million (participation percentage 24.67%) compared to Euro9.5million in the respective period of 2004. This decrease is due to the non-participation of EFSIMON SYLLOGES (Olympic Products) in HDFS total results. Concluding, the Group's earnings include Euro2.8million from GERMANOS' participation by 20% in the operator of mobile telephony UNITEL (Uzbekistan). Commenting on the Group's results, the CEO, Mr. John Karagiannis, mentioned that "In a particularly competitive market, GERMANOS presents a very positive image in its total results and the market shares retained in Greece and abroad are continuously expanding. Having reached the first nine-months of 2005 and having the most positive prospects for the Group's and its subsidiaries'performance, we are now in a position to revise our expectations upwards and always within the context of a conservative approach. Thus, we expect an increase of sales of approximately 17%, while an increase of Earnings per Share (EPS) of approximately 15%. In the mid-term (2005-2007) we adhere to our initial forecasts, which remain at a sales increase of approximately 15-17% and earnings per share increase of approximately 13-15%."

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