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Superfast Increases sales 22.6% in first half and profit 14.8%

Attica Enterprises S.A., the holding company of Greek line Superfast<.> Ferries, announced increased profit<.>s for the six month period ended 30th June. Compared with the first half 1998, the ferry line increased sales by 22.6%, profit before loan interest and depreciation by 24% and net profit, which reached 2.7 billion drachmas, by 14.8%.
Total sales for the period reached 12.2 billion drachmas. Earnings before interest on loans and depreciation reached 4.7 billion.
Depreciation charges in the first half of 1999 amounted to 959 million compared to 683 million in last year`s first half.
In the first half of 1999, the four Superfast ferries carried 195,381 passengers (51,226 more passengers than in first half of 1998 – an increase of 35.5%), 51,306 trucks (14,934 more trucks – an increase of 41.1%) and 36,269 private vehicles (9,308 more private vehicles – an increase of 34.5%). In a total of about 35 ferries, the Superfast Ferries ranked first in passengers and trucks on the Greece-Italy-Greece traffic by ferries with a market share of 29.9% in passengers (22.91 in first half 1998), 27.6% in trucks (21.6% in first half 1998) and 26.9% in private vehicles (22.6% in first half 1998).
The investment plan of Attica Enterprises S.A., includes the construction of six new Superfast ferries worth in excess of $650 million, the first pair of which will be ready for delivery before the end of the first half of 2000 and will be deployed in the Patras-Ancona-Patras route.
As of this coming June, a new itinerary between Igoumenitsa and Ancona will be added. Four more Superfast ferries will be delivered in 2001, which will bring the number of the Superfast fleet to ten ultramodern and very fast ships. These vessels represent the youngest and most modern fleet of ships in this category, worldwide.
Based on the success of its Superfast ferries, and the continuous demand for the deployment of more ships of this type in other parts of the world, the management of the company is in negotiations with a number of shipyards to explore the possibility of building more Superfast ships.

Attica Enterprises S.A., the holding company of Greek line Superfast<.> Ferries, announced increased profit<.>s for the six month period ended 30th June. Compared with the first half 1998, the ferry line increased sales by 22.6%, profit before loan interest and depreciation by 24% and net profit, which reached 2.7 billion drachmas, by 14.8%.

Total sales for the period reached 12.2 billion drachmas. Earnings before interest on loans and depreciation reached 4.7 billion.

Depreciation charges in the first half of 1999 amounted to 959 million compared to 683 million in last year`s first half.

In the first half of 1999, the four Superfast ferries carried 195,381 passengers (51,226 more passengers than in first half of 1998 – an increase of 35.5%), 51,306 trucks (14,934 more trucks – an increase of 41.1%) and 36,269 private vehicles (9,308 more private vehicles – an increase of 34.5%). In a total of about 35 ferries, the Superfast Ferries ranked first in passengers and trucks on the Greece-Italy-Greece traffic by ferries with a market share of 29.9% in passengers (22.91 in first half 1998), 27.6% in trucks (21.6% in first half 1998) and 26.9% in private vehicles (22.6% in first half 1998).

The investment plan of Attica Enterprises S.A., includes the construction of six new Superfast ferries worth in excess of $650 million, the first pair of which will be ready for delivery before the end of the first half of 2000 and will be deployed in the Patras-Ancona-Patras route.

As of this coming June, a new itinerary between Igoumenitsa and Ancona will be added. Four more Superfast ferries will be delivered in 2001, which will bring the number of the Superfast fleet to ten ultramodern and very fast ships. These vessels represent the youngest and most modern fleet of ships in this category, worldwide.

Based on the success of its Superfast ferries, and the continuous demand for the deployment of more ships of this type in other parts of the world, the management of the company is in negotiations with a number of shipyards to explore the possibility of building more Superfast ships.

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