Year 2008
Annual Results 14/04/2008
14/04/2008 by in Year 2008

The financial results of the listed on Athens Exchange company «Kiriacoulis Mediterranean Cruises Shipping S.A.» and its Group have increased for the year 2007 as compared to 2006.

More precisely, turnover of Kiriacoulis Group grew by 6.81% reaching 21,620,779 euro from 20,241,773 euro in 2006. Earnings before interest, taxes, depreciation and amortisation (EBITDA) of the Group increased by 19.60% in 2007 and amounted to 3,801,835 euro from 3,178,838 euro in 2006. Profit after taxes attributable to shareholders of the listed company is higher by 155% reaching 826,077 euro from 323,957 euro in 2006.

Turnover of «Kiriacoulis Mediterranean Cruises Shipping S.A. » increased by 3.44% and totalled 7,814,129 euro from 7,554,526 euro in 2006. Earnings before interest, taxes, depreciation and amortisation (EBITDA) of the company grew by 16.70% reaching 3,725,752 euro from 3,192,694 euro in 2006. Profit after taxes increased by 14.29% and amounted to 1,105,059 euro from 966,916 euro in 2006.

The management of «Kiriacoulis Mediterranean Cruises Shipping S.A.» evaluates the prospects for 2008 to be favourable for the following reasons:

  • The increased identifiability that Greece has developed as a tourist destination, due to the well-planned marketing program in progress worldwide that further improves the Country’s positive image thanks to the Olympic Games.
  • The positive future outlook for global tourism, as this is reflected in published scientific studies up today.
  • The increasing trend in the number of recreational vessels, which as a result, raises the future demand for docking spots. As an indication, we mention that in the Mediterranean, for every 5 new recreational vessels one docking spot is created.
  • The measures announced for attracting national and international funds for investments in tourism, such as the plans for private and public sector partnership and tenders for the lease and development of the existing tourism infrastructure by private Bodies.
  • The present and the planed by the state measures to boost the industry for the exploitation of alternative sources for electric power production.

    Athens, 14 April 2008

Chris Balikos

Corporate | Kiriacoulis Group of Companies