In 2008, consolidated turnover of KLEEMANN increased by 10.3% in comparison with 2007, amounting to 117.50 mil. euros, despite the financial crisis and the unfavorable impact on the construction market that the group of KLEEMANN operates in.

However, the current negative development, both for the Greek and the international economy has affected KLEEMANN group and contributed to a fall in profit before tax by 8,9%. Additionally, for the fiscal year 2008, at a group level, gross margin amounted to 39.81 mil. euros, improved by 10.1% while earnings before tax, interest, depreciation and amortization (EBITDA) amounted to 20.07 mil. euros, increased by 0.5%, in comparison with the equivalent period of last year. Earnings after tax and minority rights amounted to 10.30 mil. euros, decreased by 14.0% in comparison with 2007. In addition, total equity increased by 8.7%, to 88.10 mil. euros and the return on capital employed amounted to 13.4%.

During the examining period and according to the latest decision of H.C.M.C. (1/480/24.07.2008), a provision for fiscal years unaudited by tax authorities was carried out and encumbered the consolidated results by 300.00 thous. euros. In order to armor the group against the current difficult time period, increased provision for bad debts and devalued inventories of total value of 1.53 mil. euros, were also calculated. In addition, during the same period, there was a decrease of securities' value of a listed bank in A.S.E., which encumbered the consolidated results by 650.400 euros. Had these facts not taken place, earnings after tax and minority rights would be increased by 6.7% instead of decreased by 14.0%.

For 2009, the actions of the group focus on controlling the expenses and adjusting costs to the new business environment. Furthermore, it aims at maintaining and reinforcing the already strong level of liquidity in order to finance the group's needs, improving productivity at all levels, intensifying the efforts of penetrating into new markets, whereas it has given emphasis at the manufacturing and trading of new products (escalators, parking, solutions for handicapped people like stair lifts, anti-seismic elevator etc)

The production investments of the parent company for 2009, which are estimated at 2.0 mil. euros approximately, will mainly concern the completion of the multi level testing tower. In light of the new economic reality, the group will complete the investment plan that is under way but will not proceed with any new productive investments.

The Board of Directors will propose to the Annual General Meeting, the distribution of dividend of 0.12 euros per share, compared to 0.16 that was in 2007, which according to the current level of share price, corresponds to a dividend yield of 7.6%.