sign in sign up
<<
Home , ANEK Lines, Minoan Lines

Travel & Leisure - Travel & Tourism IR RELEASE 9M 2009

November 2009 Basic Figures Company Description  42 Years of leading presence  Fleet of 13 own vessels and a total of19 under operation ANEK LINES Group of companies is  20 Ports in the business of operating its own  50 Destinations and service routes  Best Company of the Year 2008 for the passenger shipping as well as chartered passenger ferry  Significant expansion opportunities vessels for over 40 years. The group  Strong management is active in sea routes of and Consolidated financial figures 9M 2009

the Adriatic and has achieved  +9% EBITDA increase to € 32.8 mil. (Μ €) 9M 9M  +9% Net earnings increase to € 10.5 mil. 2008 2009 sustainable leadership in carrying  +2% Increase of operating liquidity: operating cash flow Sales 229 221 passengers and vehicles with € 29.4 mil. Gross Profit 52 54  Traffic increase: Passengers (+9%), Vehicles (+9%), EBITDA 30 33 credibility by means of its 13 state- Trucks (-1%) EBIT 22 23 Key Facts of 9M 2009: of-the-art passenger vessels. EBT 10 11  In the nine month period of 2009, ANEK Group operated in the EATAM 10 10 Cretan, Aegean and lines through a total of 19 vessels under operation (13 of which are own). Profit MarginsΠεριθώρια % Κέρδους %  Passenger and vehicles’ traffic increased within the 3rd quarter, Share Evolution which is historically the most significant of every fiscal year due Gross Profit 22.7% 24.4% EBITDA 13.2% 14.8% 140 3.500.000 to passenger ferry shipping seasonality, while the Group EBIT 9.8% 10.2% extended its subsidized routes, covering the transportation needs EBT 4.4% 4.9% EATAM 4.2% 4.5% 120 3.000.000 of the islands.  As far as the Adriatic Sea lines are concerned, the overall Change % Διαφορά %

100 2.500.000 decrease reported is attributed to the decline in truck transportation due to the recession. Sales -3.2%  At the same time, the agreement for the acquisition of a 33.35% Gross Profit 4.1% 80 2.000.000 EBITDA 9.0% stake in (HSW) is expected to contribute to the EBIT 1.1% 60 1.500.000 increase of the Group’s activity and is in line with the strategic EBT 9.3% development plan. EATAM 3.2%

40 1.000.000 Key Developments of 9M 2009:  Within 9M of 2009, ANEK Lines and its subsidiary LANE participated in the competitive

20 500.000 tenders of the Ministry of Mercantile Marine, The Aegean and Island Policy for the service of routes through subsidized routes’ contracts regarding the transportation between

0 0 various islands of the Aegean Sea. Both companies were successful tenderers and as a result, the vessel “ARTEMIS ” (chartered) started serving the route of the Cyclades islands, the vessels “IERAPETRA ” and “PREVELIS ” served the routes between the Dodecanese VOLUME ATHEX ΑΝΕΚ islands, , Cyclades islands and and the vessel “V. KORNAROS ” started serving the route between Crete, Kithira and Peloponnisos. Moreover, the vessel “HIGHSPEED 1 ” (chartered) served the route between the Sporadic Islands and Ag. Constantinos. Share Data  In April 2009 the Company signed with the insurance company INTERAMERICAN the pioneer agreement - group insurance contract " "Safely Together" that provides, # of shares (CB) 157,360,940 medical assistance during the journey and 7 days after, to all ANEK passengers free of Price (€): 24/11/2009 0.72 charge. ANEK Lines is the only company in the passenger ferry shipping sector that provides medical coverage to its passengers proving the human-oriented character of the Company Capitalization (€ mil.) 113.30  During May 2009 ANEK Lines signed an agreement with shipping company for the acquisition of 33.35% of HELLENIC SEAWAYS SA . Within the framework of the % change since 31/12/2008 -12.2% agreement, the amount of euro 22.5 mil. was paid within the 3rd quarter.  Finally, the chartering of the vessels “ARIADNI ” and “EL. VENIZELOS ” to foreign 52 wks high €: 7/5/2009 1.22 companies continued during the 3rd quarter. Ratios 52 wks low €: 20/3/2009 0.62 P/ EV/ BANKS/ SALES EBITDA EBIT EAT& MIN EPS DPS DIV YLD P/E P/BV P/ SALES ROE 52 wks avrg. Daily volume (#): 335,127 EBITDA EBITDA EQUITY (.000 €)(.000 €)(.000 €)(.000 €) € € % x x x x x x % REUTERS ANKr.AT 2006 254,718 52,430 35,643 20,187 0.35 0.060 8.33% 5.61 1.08 0.44 2.16 7.56 2.72 19.17%

BLOOMBERG ΑΝΕΚ GA 2007 254,332 43,017 27,104 12,314 0.10 0.050 6.94% 9.20 0.54 0.45 2.63 7.25 1.21 5.84% 2008 278,936 26,909 15,130 -5,886 -0.04 0.000 0.00% -19.25 0.58 0.41 4.21 13.82 1.37 -2.99% ATHEX ANEK Investment ratios are computed at year end number of shares (157,360,940) Please refer to the important disclosures shown on page 2 and share price €0.72 (24/11/2009), BV= Total Equity – Minority Rights. Page 1 ANEK LINES S.A. IR Release (November 2009)

Consolidated Financial Results

Statement of Comprehensive Income Sales Breakdown (FY:December) 9M 2007 Q1 2008 Q2 2008 Q3 2008 9M 2008 Q1 2009 Q2 2009 Q3 2009 9M 2009 (000 €) Turnover (sales) 205,861 47,146 69,447 112,090 228,683 43,503 67,695 110,156 221,354 9Μ 2009 Cost of sales (144,525) (47,074) (59,558) (70,240) (176,872) (44,627) (56,122) (66,668) (167,417) Per business segment Gross Profit 61,336 72 9,889 41,850 51,811 (1,124) 11,573 43,488 53,937 Other operating income 2,393 73 715 204 992 95 357 292 744 0.35% Other operating expenses (649) (588) (215) (313) (1,116) (172) (332) (1,084) (1,588) 12.59% Total Gross Profit 63,080 (443) 10,389 41,741 51,687 (1,201) 11,598 42,696 53,093 Administrative & Distribution expenses (27,760) (7,193) (9,867) (12,201) (29,261) (7,721) (10,182) (12,512) (30,415) EBITDA 47,727 (5,252) 2,994 32,374 30,116 (5,532) 4,797 33,571 32,836 Depreciation (12,407) (2,384) (2,472) (2,834) (7,690) (3,390) (3,381) (3,387) (10,158) EBIT 35,320 (7,636) 522 29,540 22,426 (8,922) 1,416 30,184 22,678 Financial cost (net) (12,271) (3,699) (4,105) (4,847) (12,651) (4,802) (2,642) (3,610) (11,054) Results from investing activities 297 (214) (19) (48) (281) (1,291) (25) 98 (1,218) Profit/(loss) from participation in associates 607 89 244 145 478 75 126 297 498 87.06% EBT 23,953 (11,460) (3,358) 24,790 9,972 (14,940) (1,125) 26,969 10,904 Income tax (414) (43) (56) (214) (313) (45) (106) (235) (386) Minority interest (65) (443) (400) 845 2 (349) 179 721 551 Revenues from fares EATAM 23,604 (11,060) (3,014) 23,731 9,657 (14,636) (1,410) 26,013 9,967 On-board & other trade activities

Margin Analysis % Other Gross Profit 29.8% 0.2% 14.2% 37.3% 22.7% -2.6% 17.1% 39.5% 24.4% EBITDA 23.2% n/a 4.3% 28.9% 13.2% n/a 7.1% 30.5% 14.8% Per geographical region EBIT 17.2% n/a 0.8% 26.4% 9.8% n/a 2.1% 27.4% 10.2% ΕΒΤ 11.6% n/a n/a 22.1% 4.4% n/a n/a 24.5% 4.9% EAT & Minorities 11.5% n/a n/a 21.2% 4.2% n/a n/a 23.6% 4.5% Period/Period % Sales 2.1% -5.3% 12.0% 19.2% 11.1% -7.7% -2.5% -1.7% -3.2%

Gross Profit 9.4% -99.1% -24.9% 4.8% -15.5% Losses 17.0% 3.9% 4.1% 46.85% Increase in Losses EBITDA 2.1% -64.4% -4.7% -36.9% Losses 60.2% 3.7% 9.0% 53.15% Increase in Losses EBIT 2.3% -87.1% -0.7% -36.5% Losses 171.3% 2.2% 1.1% Increase in Increase in Decrease in Losses EBT 1.8% Losses -5.1% -58.4% Losses Losses 8.8% 9.3% Increase in Increase in Decrease in Losses EAT & Minorities 14.7% Losses -6.3% -59.1% Losses Losses 9.6% 3.2% Source: Published Group’s Financial Statements

Statement of Financial Position Domestic Abroad (.000 €) 2006 2007 2008 9M 2009 ASSETS Quarterly sales

Fixed assets 357,165 376,373 415,421 430,617 120

Inventories 9,543 12,008 10,849 10,429 100 Trade receivables 78,056 69,860 76,806 82,979 80 Other current assets 8,279 64,549 25,044 11,073 60 TOTAL ASSETS 453,043 522,790 528,120 535,098 40 EQUITY & LIABILITIES 20

Long-term liabilities 261,393 216,957 224,906 206,798 0 Short-term loans 31,989 44,235 50,256 53,709 Other short-term liabilities 48,327 45,135 50,612 61,756 Total liabilities 341,709 306,327 325,774 322,263 Contact Details Share Capital 59,740 161,299 161,299 161,299 Ioannis S. Vardinogiannis Other Company’s shareholders equity 45,547 49,460 35,512 45,478 Managing Director, [email protected] Total Company’s shareholders equity 105,287 210,759 196,811 206,777 Stelianos Stamos, Minority rights 6,047 5,704 5,535 6,058 Chief Financial Officer, [email protected] Total Equity 111,334 216,463 202,346 212,835 ANEK LINES S.A. Caramanli Avenue, TOTAL EQUITY & LIABILITIES 453,043 522,790 528,120 535,098 tel. +30 28210 24000 Source: Published Group’s Financial Statements

Additional information concerning the Financial Statements under I.F.R.S. can be found in the company’s website: www.anek.gr

This presentation may contain forward-looking statements. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Group. They are not historical facts, nor are they guarantees of future performance. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Further details of potential risks and uncertainties affecting ANEK LINES S.A are described in the ANEK LINES S.A. filings with the Stock Exchange. These forward-looking statements speak only as of the date of this presentation. *aea relate S.A.– Investors Relations & Corporate Communication Page 2