Replay to letter of the ATHEX
In response to the letter of the Athens Stock Exchange as of 06/02/2006, regarding the article in the newspaper NAFTEMPORIKI (paper of 06.02.2006) with the title "Higher 2005 figures for Neochimiki" and within the framework of articles 28, 285 and 302 of the ATHEX Regulation, the company NEOCHIMIKI L.V. LAVRENTIADIS announces the following:
In its press release as of 03.11.2005 regarding the consolidated financial results for the 9M period 2005, NEOCHIMIKI L.V. LAVRENTIADIS S.A. mentions that the management which revised for the better its provisions regarding the FY 2005 results, expects consolidated sales to rise to approximately Euro 140 mil. against Euro 120 mil. and net earnings after taxes to amount to approximately Euro 12 mil. compared to Euro 11 mil. of the previous provision. Moreover, the company's announcement as of 30.12.2005 mentions the following:
- the 100% acquisition of the company NOVION S.A. (former Celanese) from subsidiary companies of NEOCHIMIKI L.V. LAVRENTIADIS S.A.,
- the attainment of the Group's strategic goals, with activities in five main S.B.U.,
- the estimate that consolidated sales for the year 2006 will exceed Euro 200 mil. and earnings before taxes will be over Euro 19 mil.,
- and finally that on February 23rd, 2006, the FY 2005 financial statements will be published and the positively revised provisions for the year 2006 will be announced.
Finally, the company's announcement as of 2.11.2005 regarding the merger with absorption of LAMDA DETERGENTS S.A., NEOCHIMIKI's subsidiary by 84.62%, by BALLIS CHEMICALS S.A., it is mentioned that the major shareholders of BALLIS CHEMICALS S.A. will purchase a total of 436,000 shares of LAMDA DETERGENTS S.A. from the selling shareholder, NEOCHIMIKI L.V. LAVRENTIADIS S.A. at the price of Euro 7.57. Given the value 1 Euro of each share of LAMDA DETERGENTS S.A., the capital gains resulting amount to Euro 2.8 mil. Therefore, the said article includes information that the company has already officially announced regarding FY 2005 consolidated sales and earnings after taxes. As already mentioned above, on February 23rd, 2006, the FY 2005 financial statements will be published along with the positively revised provisions for the year 2006.