Maritime Company of Lesvos S.A. in accordance with the Athens Exchange Regulations as per article 292, would like to inform all investors that the financial analysts' presentation was held on 18.05.2007.
The presentation was made by the Managing Director, Mr. Apostolos Ventouris, the General Manager, Mr. Athanasios Liagos and the Chief Financial Officer, Mr. Theocharis Papageorgiou.
The following results were discussed based on the Financial Statements for the year 2006:
- Significant rise in earnings before interest, taxation, depreciation and amortization (EBITDA). The earnings before interest, taxation, depreciation and amortization (EBITDA), amounted to Euro 43,8 million in comparison to Euro 1,1 million for the same period last year.
- Significant profits vs losses. Profits after taxation for the fiscal period 2006 amounted to Euro 32,1 million in comparison to Euro 12,1 million loss for the same period last year.
- Growth of the Group's assets. Total Group assets amounted to Euro 201,5 million in comparison to Euro 171,3 million for fiscal year 2005, resulting in an increase of 17,59%.
- Increase of the Group's equity. The net equity position amounted to Euro 58,7 million in comparison to Euro 25,7 million for fiscal year 2005, resulting in an increase of 128,80%.
- Decrease of the Group's total liabilities. Group liabilities amounted to Euro 142, 9 million in comparison to Euro 145, 7 million in the previous year, resulting in a decrease of Euro 2, 8 million.
- Increase in ROA Ratio. Group return on assets Ratio was at 54, 61% in the present fiscal year in comparison to -47, 02% for previous fiscal year.
- Increase in ROCE Ratio. Group return on capital employed ratio was at 21,13% in present fiscal in comparison to -3,65% for the previous fiscal year.
- Increase in Gearing Ratio. Group's gearing ratio scaled to 0,50 in comparison to 0,21 in the previous fiscal year, resulting in an increase of 138,09%.
- Increase in Liquidity Ratio. Group?s liquidity ratio scaled to 1,22 in comparison to 0,54 in the previous fiscal year, resulting in an increase of 125,93%.
In total, NEL LINES Group financial position and status improved significantly during the year 2006. Management gave beneficial solutions to the company's long lasting financial problems during the present fiscal year.
In conclusion, the Group forecasts were presented as follows:
In the next fiscal year the company will be focused on the improvement of Operating Results. For the year 2007 according to the company's forecasts, sales will increase due to fleet redeployment into new routes, the reorganization of the sales force, the deployment of two more high speed car passenger crafts (AEOLOS KENTERIS I and AEOLOS KENTERIS II), and the purchase of C-LINK FERRIES M.C.. Specifically:
-Increase in sales. According to management forecasts for the year 2007, Group sales will increase 70% and will amount to Euro 46,1 million.
-Significant improvement in Operating Results. Operating profits of Euro 8,4 million in comparison to Euro 7,9 million loss in the previous fiscal year is forecasted.
- Earnings Before Interest, Taxation, Depreciation and Amortization, is forecasted at Euro 13,9 million for 2007.
The Company's strategic goal is its growth, which will be achieved either via strategic participations in existing companies in the maritime sector or via autonomous growth.
The presentation is available on the Company's website www.nel.gr and on the Athens Exchange website www.ase.gr.