During the first six-month period continued the contraction in the Greek economy, to which contributed significantly the instability in the central political scene, the impact of the high tax burden of Greek households, the wage reductions, the rapid increase in unemployment and the lack of liquidity. Consequence of these is to further reduce the purchasing power of consumers resulting in the car market to record new historical low sales levels which adversely affected the financial results of the Company and the Group.

In particular, total car registrations in the first semester of 2012 amounted to 32,429 units presenting a decrease of 41.3% compared to the relevant period of 2011 which amounted to 55,276 units. SUZUKI in the first semester of 2012 made 1,460 car registrations achieving a market share of 4.5% against 2.9% of the relevant period of 2011. In addition, in retail sector the Company in the first semester of 2012 made 3,453 car sales corresponding to a market share of 10.6% against 9.1% of the corresponding period of 2011.

Group's turnover in the first semester of 2012 amounted to € 91.6 mil., presenting a decrease of 27.0% compared to the turnover of € 125.4 mil. of the relevant period of 2011. Respectively, Company's turnover in the first semester of 2012 amounted to € 70.4 mil. presenting a decrease of 30.5% compared to the turnover of the relevant period of 2011, presenting better picture compared to market.

Gross profit for the first semester of 2012 amounted to € 21.3 mil. for the Group and € 6.3 mil. for the Company while the first semester of 2011 gross profit was € 29.4 mil. for the Group and € 11.9 for the Company.

Operating profit (EBITDA) for the first semester of 2012 amounted to € -1.2 mil for the Group and to € -6.4 mil. for the Company. Loss before tax for the first semester of 2012 amounted to € 20.8 mil. for the Group and € 15.4 mil. for the Company.

Cash flow from operating activities at Group level remains positive € 15.5 mil. mainly as a result of the reduction of the level of stock and the successful management of receivables.

Group's management effort to further reduce the operating expenses remains intense and had as a result in the first semester their decrease at Group level by € 5.9 mil. Total Group's operating expenses on 30.06.2012 amounted to € 34.1 mil., representing a decrease of 14.8%.

Group's total bank loans have been reduced by € 22.6 mil. that is 7.0% from € 325.1 mil. on 30.06.2011 to € 302.5 mil. on 30.06.2012, while net bank loans for the Group amounted to € 280.0 mil. on 30.06.2012.

 
Athens, 29/08/2012

The Board of Directors