The performance of Dias Portfolio Investments in 2007, whose portfolio is managed by Eurobank EFG Asset Management Investment Firm S.A, was outstanding.
According to the official data published by Hellenic Institutional Investors Association on 31/12/2007, the return of the Net Asset Value of the Company on a annual basis, for the second time in a row, was the highest among the Greek listed portfolio investments companies and reached 21,7%. This return exceeds significantly, both the performance of the ASE General Price Index which came up to 17,9% and the weighted average performance of the sector of the Greek listed portfolio investment companies which came up to 14,7%. On 31/12/2007 its share was traded at a high discount which amounted to 25,1%.
Specifically, in 2007, profit after tax (no minorities exist) increased by 24% to euro 17m compared to euro 13,7m of last year. Trading profit on securities and derivatives came up to euro 2,3m compared to euro 3,5m last year, income from dividends and interest came up to euro 1,8m compared to euro 1,2m in 2006, whilst the unrealized profit from the valuation of the trading portfolio reached euro 19,1m (total value of investments exceed cost by the amount mentioned) compared to profit of euro 13,5m correspondingly in 2006. PBITDA came up to euro 17,5m compared to euro 13,9m in 2006. Profit before tax settled to euro 17,4m.
The above outstanding performance was achieved by the successful management of the increased investment portfolio (after the completion of the share capital increase in 2006) from Eurobank EFG Asset Management, both in the local and in the foreign markets. Particularly successful in the Greek market, in terms of returns, were the participations outside the banking sector and heavily index-weighted large cap companies to mid and small cap dynamic companies. Outstanding were also the returns achieved from the investments in the foreign markets -mainly in South East Europe (SEE)- where, the profits registered from trading and valuation reached to ?6.4m. It is pointed out that both the high profits and the very good, in general, performance of the stock indices of the SEE's markets, fully justify the strategic investment choice to enter into them.
On 31/12/2007, 68,64% of the current value of the portfolio was invested in Greek shares, 25,92% in foreign shares, 1,61% in equity mutual funds and the remaining value in cash. The foreign equity portfolio concerned the SEE countries with more significant participations in Cyprus, Bulgaria, Romania, Turkey and Serbia. In total, on the portfolio, the fifteen largest participations (as a percentage of the current value of the portfolio) were: FOURLIS HOLDINGS 8,67%, EFG EUROBANK ERGASIAS 7,48%, ATHENS WATER 6,35%, CHIMIMPORT (Boulgaria) 6,29%, Piraeus port 5,09%, COCA-COLA (ΗLΒ) 4,74%, ALPHA ΤΡΑΠΕΖΑ 4,19%, ΜΥΤΙLIΝΑΙΟS 3.63%, KATHIMERINI 3,61%, NATIONAL BANK OF GREECE 2,23%, GREEK POST SAV. 2,09%, LAMDA DEVELOPMENT 1,96%, ATEBANK 1,85%, PLAISIO 1,84% και ELECTRONICI 1,75%.
Finally, the Board of Directors decided to propose to the Annual General Meeting of the Shareholders the distribution of a dividend of ?0,13 per share, which represents a 11,1% yield on the closing price of the Company's share on ASE on 27/2/2008. The date of the Annual General Meeting of the Shareholders has not been decided yet.