The company KIRIACOULIS MEDITERRANEAN CRUISES SHIPPING S.A. informs the investing public, that it was not extensively stated in the Management Report by the Board of Directors of the Interim Financial Report for the period 01 January 2015 to 30 June 2015, that the banking holiday and the closure of Athens Stock Exchange did not affect the Company’s and Group’s functioning, for the following reasons:
- The overwhelming majority of the Company’s and Group’s clientele come from the international market. Indicatively for the Company, 57 out of 662 charter contracts in the first semester of 2015 concerned Greek charterers, whereas 66 out of 627 charter contracts concerned Greek charterers in the comparative period.
- The Company and the Group have not invested in financial assets valued at fair value through the results (i.e. shares listed on stock exchanges, mutual fund shares etc).
- The Company owns deposit bank accounts in euro to financial institutions in Europe for the smoothly processing of its transactions.
Finally, the Company announces that a more proper assessment of the achievement of goals and prospects for financial year 2015 requires the analysis and evaluation of qualitative and quantitative data of twelve-month period. It is noted that the industry of professional sea tourism with pleasure boats is characterized by intensive seasonality since the majority of charter contracts are performed from April to November. As a consequence, the financial figures “follow” from semester to semester the course of the Company’s activity. In addition, the policies for the achievement of goals concern twelve-month plans, whose implementation progress is closely monitored and evaluated.
Alimos, 03 September 2015