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1 JANUARY - 31 DECEMBER 2004 - Minoan Lines

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APPENDIX - FINANCIAL STATEMENTS 32<br />

π INVITATION TO THE SHAREHOLDERS 33<br />

ππ FINANCIAL STATEMENTS - MINOAN LINES SHIPPING S.A. 34<br />

i Balance Sheet and Statements of Income for the year <strong>2004</strong> 34<br />

ii Report of the Board of Directors of “MINOAN LINES” SHIPPING S.A. 38<br />

πππ CONSOLIDATED FINANCIAL STATEMENTS 44<br />

i Consolidated Balance Sheet and Statements of Income for the year <strong>2004</strong> 44<br />

ii Report of the Board of Directors of “MINOAN LINES” SHIPPING S.A.<br />

on the Consolidated financial statements for the year <strong>2004</strong> 48<br />

πà CASH FLOW STATEMENTS FOR <strong>2004</strong> 52<br />

i Statements of Cash Flows for the year ended December <strong>31</strong>, <strong>2004</strong> 52<br />

ii Consolidated Statements of Cash Flows for the year ended December <strong>31</strong>, <strong>2004</strong> 54<br />

ANNUAL REPORT <strong>2004</strong> 3

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