| |
| |
|
|
2002 |
|
|
2001 |
| |
|
|
|
|
|
|
| ASSETS |
|
|
|
|
|
|
| |
Cost |
Depreciation |
Net Book Value |
Cost |
Depreciation |
Net Book Value |
| |
|
|
|
|
|
|
| ESTABLISHMENT EXPENSES |
|
|
|
|
|
|
| Exchange differences on currency loans |
4,273,922.80 |
-1,565,602.06 |
2,708,320.74 |
14,797,943.21 |
-10,683,008.25 |
4,114,934.96 |
| Interest pertaining to construction period |
218,933.05 |
-124,775.74 |
94,157.31 |
406,618.91 |
-276,336.66 |
130,282.25 |
| Other establishment expenses |
12,032,059.87 |
-7,024,510.52 |
5,007,549.35 |
15,302,645.52 |
-11,588,814.61 |
3,713,830.91 |
| |
16,524,915.72 |
-8,714,888.32 |
7,810,027.40 |
30,507,207.65 |
-22,548,159.51 |
7,959,048.12 |
| |
|
|
|
|
|
|
| FIXED ASSETS |
|
|
|
|
|
|
| Intangible Assets |
|
|
|
|
|
|
| Registered trade marks |
444,455.45 |
-222,706.12 |
221,749.33 |
454,385.03 |
-194,623.28 |
259,761.75 |
| |
444,455.45 |
-222,706.12 |
221,749.33 |
454,385.03 |
-194,623.28 |
259,761.75 |
| |
|
|
|
|
|
|
| Tangible assets |
|
|
|
|
|
|
| Vessels |
1,466,543,138.56 |
-97,549,581.58 |
1,368,993,556.98 |
1,120,139,708.58 |
-90,518,697.45 |
1,029,621,011.13 |
| Vessels under construction |
|
|
0.00 |
116,888,032.02 |
|
116,888,032.02 |
| Buildings and technical installations |
1,731,444.58 |
-560,673.65 |
1,170,770.93 |
1,743,550.64 |
-478,953.47 |
1,264,597.17 |
| Motor vehicles |
5,928.10 |
-5,928.09 |
0.01 |
32,022.56 |
-27,808.26 |
4,214.30 |
| Technical installations |
121,896.54 |
-52,500.99 |
69,395.55 |
121,896.55 |
-28,121.66 |
93,774.89 |
| Furniture and other equipment |
5,004,207.78 |
-3,456,747.81 |
1,547,459.97 |
4,628,076.88 |
-2,686,087.08 |
1,941,989.80 |
| |
1,473,406,615.56 |
-101,625,432.12 |
1,371,781,183.44 |
1,243,553,287.23 |
-93,739,667.92 |
1,149,813,619.31 |
| |
1,473,851,071.01 |
-101,848,138.24 |
1,372,002,932.77 |
1,244,007,672.26 |
-93,934,291.20 |
1,150,073,381.06 |
| |
|
|
|
|
|
|
| Investments in affiliated companies |
|
|
2,712,449.47 |
|
|
2,727,609.47 |
| Long term receivables |
|
|
1,231,203.35 |
|
|
1,230,127.63 |
| |
|
|
3,943,652.82 |
|
|
3,957,737.10 |
| Total fixed assets |
|
|
1,375,946,585.59 |
|
|
1,154,031,118.16 |
| |
|
|
|
|
|
|
| CURRENT ASSETS |
|
|
|
|
|
|
| Inventories |
|
|
3,691,696.32 |
|
|
4,160,731.34 |
| Trade receivables |
|
|
42,867,168.33 |
|
|
36,221,767.43 |
| Bills receivables |
|
|
|
|
|
|
| Post dated cheques |
|
|
11,446,047.89 |
|
|
4,578,335.09 |
| Cheques overdue |
|
|
379,599.32 |
|
|
335,061.87 |
| Due from subsidiaries |
|
|
|
|
|
|
| Other receivables |
|
|
753,740.83 |
|
|
337,490.83 |
| Bad and doubtful debts |
|
1,015,926.59 |
|
|
566,806.88 |
|
| Less: Provisions |
|
920,483.63 |
95,442.96 |
|
465,035.52 |
101,771.36 |
| Sundry debtors |
|
|
14,316,286.11 |
|
|
10,211,533.95 |
| Sundry advances |
|
|
941,625.80 |
|
|
1,265,269.39 |
| |
|
|
74,491,607.56 |
|
|
57,211,961.26 |
| Securities |
|
|
|
|
|
|
| Shares |
|
|
2,545,773.12 |
|
|
753,010.41 |
| Sundry securities |
|
|
22,082.43 |
|
|
23,649,001.26 |
| |
|
|
2,567,855.55 |
|
|
24,402,011.67 |
| Cash and banks |
|
|
|
|
|
|
| Cash |
|
|
89,671.21 |
|
|
98,806.20 |
| Banks |
|
|
150,384,812.49 |
|
|
51,678,226.82 |
| |
|
|
150,474,483.70 |
|
|
51,777,033.02 |
| Total current assets |
|
|
227,533,946.81 |
|
|
133,391,005.95 |
| |
|
|
|
|
|
|
| PREPAYMENTS AND ACCRUED INCOME |
|
|
|
|
|
|
| Prepaid expenses |
|
|
9,848,897.61 |
|
|
7,227,849.17 |
| Income receivable |
|
|
45,160.15 |
|
|
124,603.62 |
| Other deferred amounts |
|
|
14,592.05 |
|
|
6,154.33 |
| |
|
|
9,908,649.81 |
|
|
7,358,607.12 |
| TOTAL ASSETS |
|
|
1,621,199,209.61 |
|
|
1,302,739,779.35 |
|
| |
| |
2002 |
2001 |
| LIABILITIES AND SHAREHOLDERS´ EQUITY |
|
|
| SHAREHOLDERS´ EQUITY AND RESERVES |
|
|
| |
|
|
| Share capital |
|
|
| Paid up capital (104.173.680 shares at Euro 0,90) |
93,756,312.00 |
93,756,312.00 |
| |
|
|
| Share premium account |
241,802,776.35 |
241,802,776.35 |
| Revaluation reserves |
|
|
Reserves from value adjustments of investments
and securities |
12,985,647.00 |
13,788,360.28 |
| Reserves from value adjustments of other assets |
488.01 |
488.01 |
| Government grants |
187,762.24 |
298,157.72 |
| |
13,173,897.25 |
14,087,006.01 |
| Reserves |
|
|
| Statutory reserve |
3,786,881.04 |
3,253,979.29 |
| Extraordinary reserve |
93,603,650.16 |
69,049,594.20 |
| Special tax free reserve |
2,909,815.25 |
3,228,348.21 |
| Total reserves |
100,300,346.45 |
75,531,921.70 |
| |
|
|
| Results carried forward |
|
|
| Profit and loss account |
-16,910,579.98 |
5,177,758.80 |
| |
-16,910,579.98 |
5,177,758.80 |
| |
|
|
| Differences on consolidation |
-81,760,130.87 |
-81,760,130.87 |
| Minority interests |
130,431,872.73 |
130,757,840.37 |
| |
|
|
| Total shareholders´ equity and reserves |
480,794,493.93 |
479,353,484.36 |
| |
|
|
| PROVISIONS |
|
|
| Provision for termination indemnities |
693,468.67 |
553,442.59 |
| Sundry provisions |
1,907,682.09 |
153,734.00 |
| Total provisions |
2,601,150.76 |
707,176.59 |
| |
|
|
| LIABILITIES |
|
|
| Long term liabilities |
|
|
| Convertible bonds |
75,000,000.00 |
45,000,000.00 |
| Bank loans |
906,232,382.17 |
644,116,594.10 |
| |
981,232,382.17 |
689,116,594.10 |
| |
|
|
| Current liabilities |
|
|
| Suppliers |
30,128,389.51 |
21,987,528.71 |
| Post dated cheques |
|
|
| Bank overdrafts |
13,330,496.71 |
18,706,771.69 |
| Taxes and other dues |
2,543,722.60 |
4,463,145.96 |
| Social security contributions |
1,996,162.84 |
1,640,364.70 |
| Current portion of long term loans |
61,554,693.68 |
56,236,334.86 |
| Dividends payable |
4,711,269.35 |
5,782,189.85 |
| Sundry creditors |
1,536,223.34 |
1,891,802.02 |
| Total current liabilities |
115,800,958.03 |
110,708,137.79 |
| Total liabilities |
1,097,033,340.20 |
799,824,731.89 |
| |
|
|
| DEFERRED INCOME AND ACCRUED EXPENSES |
|
|
| Deferred income |
2,618,059.51 |
784,426.54 |
| Accrued expenses |
36,954,965.57 |
14,502,212.27 |
| Other accruals |
1,197,199.64 |
7,567,747.70 |
| |
40,770,224.72 |
22,854,386.51 |
| |
|
|
| TOTAL EQUITY AND LIABILITIES |
1,621,199,209.61 |
1,302,739,779.35 |
| |
|
|
| |
|
|
|
