Fiscal Year 2018 Financial Results

ALPHA TRUST – ANDROMEDA S.A. released its financial results for the fiscal year 2018 under the International Financial Reporting Standards.

The basic figures of the Company for the year 2018 are presented below:

  • The Company’s gross income for the year 2018 stood at €6 thousand against €3.18 mil. in the previous year. Gross income for the year 2018 mainly results from the valuation of securities at fair values based on IFRS and gains from the purchase and sale of securities.
  • Pre-tax losses amounted to € 109.56 thousand against earnings of € 2.18 million for the year 2017.
  • Losses after tax amounted to € 195.13 thousand compared to profits of € 2.10 million in 2017.
  • Cash and cash equivalents of the Company as at 31 December 2018 totalled € 1 million against 525 thousand at 31 December 2017.

The Company’s portfolio showed great resistance to the stock reversal as its return in 2018 declined slightly by 2.45% against losses of 21.97% recorded by the General Index of Total Return of the ATHEX. The Internal Value of its Portfolio (NAV) amounted to € 10.66 million or € 25.53 per share.

At the end of 2018, the portfolio was invested by 91,30% in the ATHEX listed shares and by 2% in Greek government bonds. Treasury shares accounted for 3.43% of the portfolio or 16,472 shares. The Company, following a decision of the General Meeting, proceeded with their cancellation and deletion on 6/2/2019.

The Company’s top five equity holdings at the end of the fiscal year consist of QUEST HOLDINGS S.A., TITAN CEMENT COMPANY SA, THRACE PLASTICS S.A., and ELVE INDUSTRIAL COMMERCIAL SOCIETE ANONYME.

The stock of ALPHA TRUST-ANDROMEDA S.A., with a closing price of €22.00 on 28/2/2019, was traded in the Athens Stock Exchange at a discount of -21.03%.

ALPHA TRUST-ANDROMEDA S.A. constitutes a long term investment instrument and its selections are based on criteria which are not affected by temporary conditions, thus allowing it to hold high percentages of less traded securities and to have the ability to increase its investments, over time.

Kifissia, March 1, 2019