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ELGEKA S.A.
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Financial Results
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July 13, 2006 Regarding the Financial Results of the 1st quarter of 2006, the management of ELGEKA A.E., would like to inform the investors and the shareholders, the following: The Company The companyLs turnover for the 1st quarter of 2006 amounted to euro 27.871 thousand versus euro 30.358 thousand in the relevant period of 2005, decreased by 8,2%. The profits before taxes reached euro 451 thousand versus euro 1.142 thousand in the 1st quarter of 2005, recording a decrease of 60,5%. The profits after taxes amounted to euro 375 thousand versus euro 841 thousand in the 1st quarter of 2005, decreased by 55,4%. The main reason that contributed to the decrease of the above mentioned results is the increase of the selling and distribution expenses, as a result of the companyLs strategic decision to maintain and further develop the distribution channel of chilled products which was established when the company began its collaboration with THRAKI A.E.. The Group The Group in the 1st quarter of 2006, recorded a decrease in turnover of euro 2.634 thousand or 4,7% - euro 52.887 thousand versus euro 55.521 thousand in the relevant period of 2005. The profits before taxes amounted to euro 1.150 thousand versus euro 3.071 thousand, showing a decrease of 62,6%. The profits after taxes and minority interests reached euro 824 thousand versus euro 1.895 thousand in the relevant period of 2005, decreased by 56,5%. The decrease of the financial results of the Group is attributed to the following reasons: a) The increase of the selling and distribution expenses by euro 1.305 thousand. It must be mentioned that apart from the increase in selling and distribution expenses of the parent company, a significant increase was recorded to its subsidiary ELGEKA-FERFELIS ROMANIA SRL due to its expansion in Romania with 3 more branches, and to 3 subsidiaries in the pharmaceutical and parapharmaceutical sector (SAMBROOK A.E., MEDIHELM A.E. and SAMBROOK & ASSOCIATES ..) because of the expansion of their distribution channel within the Greek Market and b) the increase of the financial expenses by euro 168 thousand or 34,1%, which is mainly attributed to the increase of the borrowings for the financing of the real-estate business in Romania, and to the increase of the interest rates worldwide. The companies included in the consolidated financial statements of 31/03/2006 are as follows: 1) LOGISTICS SERVICES HELLAS A.E., 2) PAPADIMITRIOY X.K. A.E., 3) VIOTROS A.E., 4) SAMBROOK A.., 5) SAMBROOK & ASSOCIATES .., 6) MEDIHELM WAREHOUSE STORE S.A., 7) PALIRROIA-SOULIOTIS A.E., 8) ONIA NET A.E., 9) ELGEKA CYPRUS LTD, 10) ELGEKA-FERFELIS ROMANIA SRL, 11) CERA VILLA DESIGN SRL, 12) HODDLE HOLDINGS LTD, 13) HIGHWAY TRADING SRL, 14) NETWORK MARKETING SRL, 15) EVEREST FRANCHISING SRL, 16) EVEREST FOODS SRL, 17) EVEREST PRODUCTION SRL, 18) GATEDOOR HOLDINGS LTD, 19) SC GATEDOOR HOLDINGS COM SRL, 20) GREC-ROM BUSINESS GROUP SRL, 21) MEDIZONE GERMANY GMBH. Translation Note: A Greek "anonymos eteria" (AE) is broadly similar to a French "societe anonyme" or a German "Aktiengesellschaft" and a Greek "omorythmi eteria" (OE) is broadly similar to a French "societe en nom collectif" or a German "offene Handelsgesellschaft".
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