minoan lines shipping sa annual report 2003

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THE COMPANY3.3.1 BUSINESS DESCRIPTIONThe fleet of the company at 31.12.2003 consisted of 9 car-passenger ferries, of a total transportcapacity of 14,865 passengers and 6,145 vehicles, with possibility of alternate loading in private carsand trucks. The ships are routed in the Aegean and Ionian Sea as well as in the Adriatic sea,covering itineraries between Greece and Italy.The analysis of the Company’s turnover, by market activity, for the period 2001-2003 is as follows:ANALYSIS OF COMPANY’S REVENUES (in million €) 2001 2002 2003Income from Int’l freight rates 83.28 98.49 111.97Income from Int’l shop sales 2.88 4.90 6.34Int’l chartering income 0.09 2.54 2.84Other Int’l income 11.81 15.77 13.99Total International income 98.06121.70 135.14Income from domestic freight rates 42.41 47.40 48.14Income from domestic shop sales 1.67 2.58 3.26Domestic chartering income 0.05 0.00 0.12Other domestic income 5.79 7.88 6.93Total domestic income 49.92 57.8658.45Total Turnover 147.98 179.56193.59The analysis of the Group’s turnover, by market activity, for the period 2001-2003 is as follows:ANALYSIS OF CONSOLIDATED REVENUES (in million €) 2001 2002 2003Income from Int’l freight rates 83.28 98.49 111.97Income from Int’l shop sales 2.88 4.90 6.34Int’l chartering income 0.09 2.54 2.84Other Int’l income 11.88 16.06 14.59Total International income 98.13 121.99 135.74Income from domestic freight rates 45.85 47.40 48.14Income from domestic shop sales 1.67 2.58 3.26Domestic chartering income 0.05 0.00 0.12Other domestic income 6.61 8.01 7.03Total domestic income 54.18 57.99 58.55Total Turnover 152.31 179.98 194.2910MINOAN LINES S.A. - Annual Report 2003
3.2. FIXED ASSETS3.2.1 Principal EstablishmentsMinoan Lines’ principal establishments are as follows:EstablishmentBuildingLocation Address Size (m2) Ownership Size (m2)Heraklion August 25th, 17 497.65 100% 2,642.87Heraklion Agiou Titou 38 423 27.60% 498Heraklion August 25th, 78 375.26 13% 151.57Piraeus Thermopilon 6-10 240.16 100% 756.66Patras Othonos Amalias 105 274.62 100%Patras Othonos Amalias 96 508.87 100% 971.13.2.2 ShipsThe company at 31.12.2003 had in its ownership 9 car-passenger ferries with the following dataspecifications:Private Combination Year ofLength Breadth Draught Speed Passengers Beds cars & Trucks Ship-building /Name of Ship (m.) (m.) (m.) (K/s) No No (only) Private cars RefurbishmentARIADNE PALACE 212.00 25.00 6.60 30.00 1,250 412 550 103 / 104 2002 / -EUROPA PALACE 214.00 26.40 7.10 31.60 1,912 732 821 104 / 110 2002 / -OLYMPIA PALACE 214.00 26.40 7.10 31.60 1,912 732 821 104 / 110 2001 / -FESTOS PALACE 214.00 26.40 7.10 31.60 2,190 758 700 113 / 100 2001 / -PROMETHEUS* 212.00 25.00 6.60 30.00 1,000 200 550 103 / 104 2001 / -KNOSSOS PALACE 214.00 26.40 7.10 31.60 2,190 758 700 113 / 100 2000 / -PASIPHAE PALACE 200.65 25.80 6.60 27.00 1,500 678 819 122 / 110 1998 / -IKARUS PALACE 200.65 25.80 6.60 27.00 1,500 700 819 122 / 110 1997 / -DAEDALUS 144.80 22.40 6.30 19.00 1,411 794 365 41 / 100 1973 / 1991TOTAL 14,865 5,764 6,145 925* sold in January 200411 MINOAN LINES S.A. - Annual Report 2003
Page 3 and 4: MINOAN LINES SHIPPING S.AANNUAL REP
Page 6: KEY FINANCIAL DATA1.1.1. KEY FINANC
Page 9 and 10: 1.2.2 Financial Statements 2001 - 2
Page 11: 2.2 SHARE DATAMINOAN LINES’ stock
Page 15 and 16: 3.2.4 Guarantees and Collateral sec
Page 17 and 18: INFORMATIONON MANAGEMENT & EMPLOYEE
Page 19 and 20: 4.2 EMPLOYEESThe following table pr
Page 21 and 22: GENERAL MARKET& COMPANY OVERVIEW5.5
Page 23 and 24: 6.2 STATEMENT OF OPERATING RESULTS
Page 25 and 26: Other cost of operation, sales and
Page 27 and 28: Depreciation charges on vessels ove
Page 29 and 30: Formation expensesFormation expense
Page 31 and 32: e. CreditorsThe trade accounts paya
Page 33 and 34: PROFIT AND LOSS ACCOUNT (in € mil
Page 35 and 36: 7.1 SUBSIDIARIESEUROPEAN THALASSIC
Page 37 and 38: MEDITERRANEAN FERRIES S.R.L.The com
Page 39 and 40: Shareholders who have dematerialise
Page 41 and 42: SHIPPING S.A.- 31th FINANCIAL YEAR
Page 43 and 44: to € 555,520,406.82 and b) On shi
Page 45 and 46: The new ships built and the compara
Page 47 and 48: Reduction in borrowing - Loan restr
Page 49 and 50: operation thanks to the special ins
Page 51 and 52: ñ Particular thanks we owe to expr
Page 53 and 54: - GROUP OF COMPANIESAS AT 31st DECE
Page 55 and 56: SHIPPING MANAGEMENT & CONSULTANTS S
Page 57 and 58: ññUpon conclusion of the liquidat
Page 59 and 60: FORTHnet S.A.The FORTHnet in the la
Page 61 and 62: CERTIFICATIONIt is certified that t
Page 63 and 64:
For the year ended For the year end
Page 65 and 66:
For the year ended For the year end
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minoan lines shipping sa annual report 2003

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