At the Annual General Meeting of Shareholders, of VIOHALCO S.A., convened on Friday, June 13, 2008, the development of the company and its subsidiaries was presented and it was decided to pay a dividend of euro 0,125 per share, for 2007, higher by 56%, compared to that of the previous year.
In 2007, the markets in which VIOHALCO was active were fundamentally influenced by fluctuations in raw material prices, by the adverse Euro-US Dollar parity, which encumbered exports, by continual upward pressure on production and transportation costs, as well as by lower construction activity in the US. A positive factor were the dynamic growth rates attained by China, India and Southeastern Europe, while the accession of new countries to the European Union, marked a new growth cycle in construction activities. Given the above, the strategic orientation of VIOHALCO?s companies, focused on the implementation of dynamic investment programmes, spending in 2007, euro 215 million, in order to enhance production competitive advantages and enter new geographical market areas. The ever-increasing presence of the group in world markets, is attested by the fact that 72.4% of the sales turnover is effected overseas, while exports represent 10% approximately of Greece's exports.
Furthermore, the programme for developing the extensive real estate holdings of VIOHALCO' s companies, continues, in this context, a centrally located hotel is let, as well as a shopping mall, at Kifissos Avenue, while an office block, is at the completion stage, located at Kifissias Avenue, all in Athens.
VIOHALCO, continues also in 2008, the implementation of its strategic plans, diligently, continually and with respect to the social and natural environment, in which it is active. The main courses of action, taken by the companies, include competent inventory management, continual cost decrease, implementation of new production investments, enrichment of the product mix and commercial presence in new markets.