Furthermore, the results of the first quarter of 2003 were presented at the general meeting by the chairman of the board Nikolaos Koukountzos as well as the prospects forecasted for the year of 2003 in total.

Specifically, consolidated sales of the quarter of the current financial year increased by 28,6% against the equivalent period of last year. In figures, consolidated turnover in the January-March 2003 period amounted to €15,10 mil., against €11,74 mil. in the equivalent period of 2002.

Consolidated profit before taxes after minority interest also increased in the first quarter of the year 2003, reaching €1,43 mil. from €1,13 mil., presenting an increase of 26,9% against the equivalent period of last year. The increase in sales of this quarter is an outcome of the operating and sales strategy by the development of new products and the globalization of its activity.

In the current financial year in total, the management of Kleemann Hellas is expecting an increase in consolidated turnover by 15,4% compared to last year and an increase in consolidated profits by 9,6%. Sales are estimated to amount to €61,68 mil. and profits to €6,43 mil. while in 2002 turnover was €53,90 mil. and profits €5,87 mil.
The expansion of sales is estimated that will come from the turnover of the subsidiary companies (KLEFER SA, KLEEMANN ASANSOR SA and LEISTRITZ GmbH), the launch of new products in the market (controller, doors, cabins, machine room-less lift), as well as the expansion of the company in new markets through export sales.

KLEEMANN HELLAS BOARD OF DIRECTORS