Leading the Way
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Investor Information Attica Group in figures *In the course of 2006, the Group sold 4 vessels and as at 31st December, 2006 owned 15 vessels. Attica Group operates modern, fast, cruise-class, car-passenger ferries providing year-round Tickers transportation services for passengers, private vehicles and freight, in the Adriatic Sea, Certified Auditors the North Sea and the Greek domestic market. Attica Group: Reuters: EPA.AT DRM STYLIANOU S.A. Bloomberg: ATTICA GA A member of RSM International 2002 2003 2004 2005 2006 ATHEX: ATTICA Kifissias Avenue & 84, Ethn. Antistasseos Street Sailings 8,113 9,855 8,988 7,568 6,228 Tenfore : ATTICA.at 15231 Athens, Greece Tel.: +30 210 674 78190 Passengers 3,919,946 5,041,332 4,741,660 4,366,945 4,027,896 Blue Star Group: Fax: +30 210 672 6099 Freight units 301,811 346,644 332,930 339,381 298,090 Reuters: STR.AT e-mail: [email protected] Bloomberg: BSTAR GA Private vehicles 650,538 791,573 733,874 635,976 579,881 ATHEX: BSTAR Leading the way Tenfore : BSTAR.at Annual General Meetings Ships 23 21 16 18 19 Attica Holdings S.A.: 14th June, 2007 Average Fleet age 10 9 8 7 10 Investor Enquiries Blue Star Maritime S.A.: 14th June, 2007 Ports Served 31 33 27 30 30 Yannis Criticos ATTICA GROUP 157, C. Karamanli Avenue (in million Euro) 2002 2003 2004 2005 2006 16673 Voula, Athens Revenue 318.61 385.87 371.25 385.12 326.60 Greece Tel.: +30 210 891 9500 ΕΒΙΤDΑ 60.99 100.83 104.72 99.10 71.53 Fax: +30 210 891 9509 Depreciation 32.98 40.12 37.98 37.39 29.93 e-mail: [email protected] Net Interest Expense -38.57 -33.04 -33.20 -26.20 -22.97 Internet Sites Net Profit after Tax and Minorities 6.50 27.83 35.63 28.08 26.28 www.attica-group.com Attica Group and Blue Star Group Annual Reports are also available ΕΒΙΤDΑ margin 19.1% 26.2% 28.2% 25.7% 21.9% www.superfast.com from Attica's website www.attica-group.com www.bluestarferries.com Requests for printed Annual Reports can be sent to [email protected] Net Profit margin 2.0% 7.2% 9.6% 7.3% 8.0% www.atticaroro.com Number of shares 104,173,680 104,173,680 104,173,680 104,173,680 104,173,680 Financial Calendar 2007 EPS (Euro) after Tax and Minorities 0.06 0.27 0.34 0.27 0.25 Total Shareholders’ Equity and Reserves 480.79 430.92 466.89 491.81 454.40 • Thursday 22nd February, 2007: Release of full year 2006 financial results. Total Equity Excluding Minorities 350.36 337.95 372.80 389.08 344.29 • Thursday 22nd February, 2007: Conference call for analysts and investors on the full year 2006 financial results. • Friday 25th May, 2007: Release of first quarter 2007 financial results. Total Assets 1,621.20 1,468.56 1,361.41 1,334.70 1,035.56 • Thursday 14th June, 2007: Annual General Meeting of Shareholders. Annual Report 2006 Net Debt1 905.64 822.55 703.64 696.48 434.86 • Friday 29th June, 2007: Ex-dividend date. Leading the way • Monday 9th July, 2007: Payment of dividend. Net Debt/Assets 55.9% 56.0% 51.7% 52.2% 41.9% • Friday 10th August, 2007: Release of first half 2007 financial results. Annual Report 2006 Cash and Equivalents 150.47 152.10 143.01 92.56 105.45 • Thursday 15th November, 2007: Release of nine month 2007 financial results. 157, C. Karamanli Avenue • 16673 Voula • Athens • Greece • tel.: +30 210 891 9500 • fax: +30 210 891 9509 1 Total long-term liabilities plus bank loans and overdrafts plus current portion of long-term liabilities minus cash and equivalents www.attica-group.com • www.superfast.com • www.bluestarferries.com Financial years 2002 and 2003 reported under Greek GAAP. IFRS reporting thereafter. Investor Information Attica Group in figures *In the course of 2006, the Group sold 4 vessels and as at 31st December, 2006 owned 15 vessels. Attica Group operates modern, fast, cruise-class, car-passenger ferries providing year-round Tickers transportation services for passengers, private vehicles and freight, in the Adriatic Sea, Certified Auditors the North Sea and the Greek domestic market. Attica Group: Reuters: EPA.AT DRM STYLIANOU S.A. Bloomberg: ATTICA GA A member of RSM International 2002 2003 2004 2005 2006 ATHEX: ATTICA Kifissias Avenue & 84, Ethn. Antistasseos Street Sailings 8,113 9,855 8,988 7,568 6,228 Tenfore : ATTICA.at 15231 Athens, Greece Tel.: +30 210 674 78190 Passengers 3,919,946 5,041,332 4,741,660 4,366,945 4,027,896 Blue Star Group: Fax: +30 210 672 6099 Freight units 301,811 346,644 332,930 339,381 298,090 Reuters: STR.AT e-mail: [email protected] Bloomberg: BSTAR GA Private vehicles 650,538 791,573 733,874 635,976 579,881 ATHEX: BSTAR Leading the way Tenfore : BSTAR.at Annual General Meetings Ships 23 21 16 18 19 Attica Holdings S.A.: 14th June, 2007 Average Fleet age 10 9 8 7 10 Investor Enquiries Blue Star Maritime S.A.: 14th June, 2007 Ports Served 31 33 27 30 30 Yannis Criticos ATTICA GROUP 157, C. Karamanli Avenue (in million Euro) 2002 2003 2004 2005 2006 16673 Voula, Athens Revenue 318.61 385.87 371.25 385.12 326.60 Greece Tel.: +30 210 891 9500 ΕΒΙΤDΑ 60.99 100.83 104.72 99.10 71.53 Fax: +30 210 891 9509 Depreciation 32.98 40.12 37.98 37.39 29.93 e-mail: [email protected] Net Interest Expense -38.57 -33.04 -33.20 -26.20 -22.97 Internet Sites Net Profit after Tax and Minorities 6.50 27.83 35.63 28.08 26.28 www.attica-group.com Attica Group and Blue Star Group Annual Reports are also available ΕΒΙΤDΑ margin 19.1% 26.2% 28.2% 25.7% 21.9% www.superfast.com from Attica's website www.attica-group.com www.bluestarferries.com Requests for printed Annual Reports can be sent to [email protected] Net Profit margin 2.0% 7.2% 9.6% 7.3% 8.0% www.atticaroro.com Number of shares 104,173,680 104,173,680 104,173,680 104,173,680 104,173,680 Financial Calendar 2007 EPS (Euro) after Tax and Minorities 0.06 0.27 0.34 0.27 0.25 Total Shareholders’ Equity and Reserves 480.79 430.92 466.89 491.81 454.40 • Thursday 22nd February, 2007: Release of full year 2006 financial results. Total Equity Excluding Minorities 350.36 337.95 372.80 389.08 344.29 • Thursday 22nd February, 2007: Conference call for analysts and investors on the full year 2006 financial results. • Friday 25th May, 2007: Release of first quarter 2007 financial results. Total Assets 1,621.20 1,468.56 1,361.41 1,334.70 1,035.56 • Thursday 14th June, 2007: Annual General Meeting of Shareholders. Annual Report 2006 Net Debt1 905.64 822.55 703.64 696.48 434.86 • Friday 29th June, 2007: Ex-dividend date. Leading the way • Monday 9th July, 2007: Payment of dividend. Net Debt/Assets 55.9% 56.0% 51.7% 52.2% 41.9% • Friday 10th August, 2007: Release of first half 2007 financial results. Annual Report 2006 Cash and Equivalents 150.47 152.10 143.01 92.56 105.45 • Thursday 15th November, 2007: Release of nine month 2007 financial results. 157, C. Karamanli Avenue • 16673 Voula • Athens • Greece • tel.: +30 210 891 9500 • fax: +30 210 891 9509 1 Total long-term liabilities plus bank loans and overdrafts plus current portion of long-term liabilities minus cash and equivalents www.attica-group.com • www.superfast.com • www.bluestarferries.com Financial years 2002 and 2003 reported under Greek GAAP. IFRS reporting thereafter. Leading the way Annual Report 2006 Attica Group Annual Report 2006 2 Contents Attica Group Annual Report 2006 Chairman’s Address 4 Germany - Finland 20 Message from the CEO 6 Scotland - Belgium 22 3 Our Mission and Values 9 The Greek Islands 24 The Group’s Fleet 11 Sales Network 28 Review of Operations Share Price Performance 31 Itineraries and Destinations 12 Corporate Structure and Governance 33 Financial Perfomance 2006 at a glance 15 Financial Statements 39 Greece - Italy 16 Attica Group Annual Report 2006 4 Dear Shareholders, Ladies and Gentlemen, Last year was characterised by the unprecedented in recent times, rise in the price of fuel which had an adverse impact on the profitability of our Group. Regrettably but unavoidably we were obliged to maintain a fuel surcharge levied on all tickets throughout the year, which helped us partly to offset the effect of much higher fuel costs. On a positive tone, our Superfast operation in the Adriatic Sea maintained its leading position in the routes it operates, whilst our one ship operation in the North Sea, in the link between Scotland and Belgium produced satisfactory results both at operational and financial levels. More so, in the domestic market, the enlarged Blue Star Ferries fleet accomplished another very strong year thus contributing substantially to the Group's results. A major development for Attica in the course of 2006, was the sale of three vessels of our Superfast fleet, namely Superfast VII, Superfast VIII and Superfast IX which operated under our ownership and management in the Germany-Finland ferry link until their sale to the Estonian Tallink Grupp AG in April 2006.