Press release 28-11-2014

Financial results for the period of 9M 2014 proved highly profitable reaching the level of €12.5 mil and an increase of 31.3% for the Thessaloniki Water Supply and Sewerage Co. S.A.

Specifically, according to the financial statements of the 9M 2014 period, group turnover reached the amount of €54 mil. from €52.4 mil the respective period last year, noting an increase of 3.1%. Gross profit reached €20 mil. from €18 mil. the respective period last year, which is an increase of 11%. Earnings before taxes reached €16.9 mil. from €11.8 mil. the respective period last year which is an increase of 43.6%, whereas the after taxes profits reached the amount of €12.5 mil. from €9.5 mil. the respective 9M period last year which is an increase of 31.3%. It is noted that the company has ‘frozen’ all its tariffs at the level of 2013, whereas form the beginning of the current year it applied the 50% social tariff discount for vulnerable groups.

“In the period of 9M 2014 water consumption increased by 1.8 mil. sq.m., operational expenses are at the lowest possible level, all interest and surcharges outstanding for the 2013 fiscal year in concern of the arrears upon the local authorities were settled and moreover the plan for increased provisions for bad claims is considered ‘closed’.  It is obvious that these results reflect EYATH’s clear image as a financially robust and thriving company. We continue upon the same logic of the contemporary public utility company with respect to the ‘Corporate Governance’ principles” notes the EYATH Company President and CEO, Mr Nikos Papadakis.