The presentation of the listed on Athens Exchange (AΤΗΕΧ) company KIRIACOULIS MEDITERRANEAN CRUISES SHIPPING S.A. and its Group was made successfully to the investing public, on Monday November 14, 2005 at Athens Hilton Hotel by Mr. Spiros Kiriacoulis, Vice President of the B.o.D., in the context of the “HRIMA” corporate presentations.
During the course of the event, the structure and operations of the Group were analysed emphasising the following key points:
- The low average age of the privately owned yachts, which on June 30, 2005 was 2,6 years, which is indicative of the company’s competitiveness.
- The operation of a wide spread network of service points in 24 different geographical places over the Mediterranean Sea.
- The high market share in berths in Greece. In particular, Kiriacoulis controls 34% of all berths, the State 48% and other private companies the remaining 18%. The company through shareholdings in companies engaged in the marinas management receives the following main benefits. First of all, ensures berths for its yachts, controls the mooring and service expenses, secures safe mooring of the yachts and in general strengthens its competitiveness in the sea tourism field.
- The steady growth of profit after taxes of the company MEDITERRANEAN VILLAGES S.A. as well as the dividends paid to the parent company the last 5 years. It is noted that the above construction company, which was established in 1991, is operating actively in the construction business only the last 5 years, in which it has paid to the parent company in the form of dividends 9% of the invested by the parent company capital.
- The adequate liquidity of the company as evidenced by the current ratio, which according to the last published financial figures on June 30, 2005, is at 1,33. The low financial leverage as the equity capital and total loans, according to the last publish financial figures on June 30, 2005, account for 42,92% and 25,65% respectively of the total employed capital.
- The high current dividend yield, which on November 9, 2005 reached 5%.
Athens, 18 November 2005