Financial results 2010

The fiscal year of 2010 closed for CYCLON HELLAS S.A with a turnover of € 476,2mil. in company’s level, and € 479,6 mil.in consolidated level.

More specifically and according to the published financial results, in the level of company the sales presented increase at 30% concerning 2009, mainly because the increase of taxes in fuels and the comparatively international higher oil prices.

The EBITDA in company level were increased at 10% and were determined in the sum of €7,344mil vs. € 6,682mil in 2009. In-group of companies level they were increased at 18% and were determined in the sum of € 7,396mil in comparison to € 6,277mil in 2009. This increase is result of increase of sales of lubricants as well as these mixed profits. The net profits after taxes amounted for the company in € 1,674mil vs. € 1,645mil of use 2009 and in level of group amounted in profits € 1,515mil vs. € 1,054mil in 2009.

Year 2010 was characterized by the macroeconomic crisis that led to sharp reduction of demand. Besides this, the fuels sector, had to face tax increase, and high international prices of argon. In such economic environment CYCLON HELLAS S.A succeed to maintain the volume of sales in almost the same levels with previous years and in combination with the bending tendency of the market, increased its share in the fuels market, from 3,41% in 2009 to 3,74% in 2010.

The total investments in 2010 amounted in € 2,502mil.