Reply to a letter of Hellenic Capital Market Commission (23/01/2014)
Replying to a request by the Capital Markets commission regarding press publications, which refer to the imposition of a fine from the Competition Committee of Romania, the Company declares that until today it has not received formally the complete decision of the Committee; however, the Company’s legal counsels, based on information received from the Committee in the context of the relative process, believe that the Company will be vindicated in the competent courts that it is intending to resort because they believe that the decision is incorrect substantially and legally.
In any case, the 1.3 million euro amount of the fine is very low and does not affect the financial position of the Group, as it comprises approximately 0.6% of the earnings before interest, taxes, depreciation and amortization (EBITDA), 2% of the earnings before taxes and 2.8% of the earnings after taxes of the last twelve months ended 30/9/2013.
It is reminded that the Company has mentioned in the notes of its financial statements the conduct of an investigation by the Competition Committee of Romania.
In relation to the comments for the revenues of the Company in Romania, the numbers referred in the amount of 40 million euro per annum are far away from reality, as the real revenues are far lower and of course a small percentage of the consolidated revenues of the Company that exceeded the 1.45 bil. Euros in the last 12 months ended 30/9/2013.