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Commentary of Financial Results of First Quarter for the fiscal year 2008

The Board of Directors of ThPA SA on 28/5/2008 has approved the First Quarter Financial Statements for the fiscal year 2008 (1/1-31/3/2008) from which the following arise:
  • The cargo throughput, mainly unitized (Containers) presents significant decrease as to the First Quarter of 2007, because of the mobilization of the employees due to the on going tender process for the concession of the Container Terminal.
  • However, the turnover of the Company presents decrease of only 5.23% due to the services invoicing with the prices of the new invoice of ThPA SA implemented from 1/4/2007.
  • Still for this period the revenue from capital exploitation presents a significant increase (53%).
  • The expenses during the same period have been decreased by 6.12%, mainly due to the decrease of the personnel remuneration resulting from abstinence from overtime work and from work during Saturdays – Sundays.
  • With relation to the above data, the results before taxes have reached the amountof 2,912,680€, as to the amount of 2,517,345€ of the corresponding Quarter of 2007, they are increased by 395,335€, a 15,7% percent increase, while after taxes they have reached the amount of 1,623,209€ as to the corresponding Quarter of 2007 with a 24,42% percent increase.