The anonymous company STELIOS KANAKIS AΒΕΕ has announced publicly the elements and information concerning the financial reports of the period 1.1.2005 - 31.3.2005, which were drawn up in conformity with the applied International Standards of the Economical and Financial Information. According to these reports:

The first trimester of the year 2005 was completed with an increase of 2,64% of the turnover and a decrease of 3,99% of the profits before taxes compared to the corresponding period of the year 2004.

More specifically, the sales reached euros 3,108 millions to euros 3,028 millions comparing to the corresponding period of the year 2004. The profits before taxes ascended to euros 244,64 thousand to euros 254,82 thousand the first trimester of 2004. The profits after taxes reached euros 148 thousand to euros 163 thousand compared to the corresponding period of the year 2004.

It is noted that the company didn?t have a significant bank borrowing, as its obligations (liabilities) to the banks ascended to euros 700 thousand. The total capital and reserves reached euros 10,977 millions, whereas the total of the liabilities decreased to euros 2,865 millions compared to euros 2,995 the first trimester of the year 2004. The profits slight bending is due to the fact that the operational cost of the company was burdened during the relevant period with exceptional (extraordinary), one-off promotion and merchandising expenses. More specifically, the company participated with a particular success to the 9th International Exhibition of Bakery, Pastry-making, Ice-cream and Chocolate products ARTOZA, which takes place every two years.

In the recent exhibition the STELIOS KANAKIS ABEE presentation was expanded for the first time with two stands: one for the products and one for the pastry-making school, which were very well accepted and welcomed by all visitors and participants.

The management estimates that during the year 2005 the profitability will be normalized in higher levels, as the company constantly realizes the larger part of its sales during the second semester of every year.