Comments on Financial Statements - 2015
Kifissia, February 3, 2015
PRESS RELEASE FISCAL YEAR 2014 FINANCIAL RESULTS
ALPHA TRUST ANDROMEDA S.A. released its financial results for the fiscal year 2014 under the International Financial Reporting Standards.
Despite a positive start, in 2014 the Greek stock exchange was characterised by intense volatility and has finally recorded important losses.
The increased nervousness of emerging and regional markets caused by the conclusion of Fed’s quantitative easing measures and the rapid changes in exchange rates and oil prices were combined with the return of the political uncertainty following the acceleration of the elections for the President of the Republic and the failure to elect one. The company’s portfolio did not manage to avoid negative returns. Nonetheless, it has widened its overperformance vis-à-vis the market as a result of the timely decrease of its total exposure, particularly in the banking sector, as well as of the comparatively better course of its main options.
At the end of the fiscal year 2014, ANDROMEDA marked losses after tax amounting to euro 1.57 mil., compared to earnings after tax amounting to euro 1.23 mil. in the respective period last year. The Company’s gross income stood at approximately euro -1.04 mil. in total, mainly resulting from losses from the valuation of securities at fair values based on IFRS and losses from the purchase and sale of securities.
The Company’s return was -14.56% from the beginning of the year, against returns of -31.18% recorded by FTSE/Χ.Α. Large Cap, -33.75% recorded by FTSE/Χ.Α. MID CAP and -28.94% recorded by the General Index of the ATHEX for the same period.
The Company’s assets at the end of the fiscal year stood at euro 9.32 mil while the Company’s portfolio was totally invested in Greece, by approximately 82.02% in stocks, 2.52% in bonds and by 15.46% in cash reserves.
The Company’s net asset value per share at the end of the fiscal year stood at euro 22.32 while its share price at euro 17.33, thus trading at a discount of 22.36%.
On 02.02.15 the Company’s net asset value per share was euro 21.63, thus trading at a discount of 11.87%.
The Company’s top ten equity holdings at the end of the fiscal year consist of TITAN, INFORM P. LYKOS, QUEST HOLDINGS, OPAP, PLAISIO COMPUTERS, PLAISIO COMPUTERS, AEGEAN AIRLINES, THRACE PLASTICS, SARANTIS, OTE and MYTILINAIOS.
Kifissia, February 3, 2015
ANNOUNCEMENT OF THE FINANCIAL CALENDAR
In the framework of the proper and timely information of the investment community and pursuant to article 126.96.36.199.1. of the Athens Stock Exchange Rulebook, the Company ALPHA TRUST-ANDROMEDA S.A., notifies to the investment community its Financial Calendar for the year 2015, as follows:
– Announcement of the Annual Financial Report 2014: Wednesday, February 4, 2015
– Annual Ordinary General Shareholders Meeting: Friday, March 27, 2015.
– Announcement of the results of the first quarter of 2015: Tuesday, April 28 2015
– Announcement of the results for the first semester of 2015: Friday, July 31, 2015.
– Announcement of the results for the nine month period of 2015: Friday, October 30, 2015.
The Company reserves the right to change the above dates, following a timely information of the investment community via an amendment of the present announcement.