minoan lines shipping sa annual report 2003

MEDITERRANEAN FERRIES S.R.L.The company has its registered office in Genova, Italy, and was founded in 2002 in cooperationbetween MINOAN LINES and the Italian shipping group Grimaldi. The main objects of thecompany were at first the exploitation of the route Genova - Tunisia via Malta and afterwards theexploitation of other routes.This business venture yielded a satisfactory return. However, it was decided the interruption of thiscooperation and the withdrawal of the ship from this route owing to its sale. The company is putunder liquidation.EUROPEAN THALASSIC AGENCIES SHIPPING MANAGEMENT &CONSULTANTS S.A.The company was bought out in July 2001, where full ownership and control passed to MINOANLINES. By the end of 2002 the personnel and the operations were fully incorporated to theMINOAN LINES, while during the year 2003 the company was put under liquidation.SUMMARY FINANCIAL DATA OF SUBSIDIARIES ANDASSOCIATED COMPANIESIn the table hereunder is set out in summary the basic financial data of subsidiaries and of associatedcompanies of the group in which the parent company’s holdings exceed 20%.Table 4: Basic Financial Data(in € million)Fixed Assets 0.00 3.28 0.02 0.00 0.00 209.92 66.76Current Assets 0.03 0.00 0.42 0.34 1.23 72.00 35.22Shareholders’ Equity -0.02 3.19 0.06 0.34 0.05 207.14 63.70Total Liabilities 0.05 0.12 0.36 0.00 1.15 79.78 51.80Turnover 0.00 0.00 1.57 0.00 0.46 134.09 75.34Results before taxes -0.15 -0.02 0.12 -0.06 -0.29 7.13 0.22Results after taxes andBoard of Directors remuneration -0.15 -0.02 0.03 -0.06-0.29 7.12 0.11* under liquidationEUROPEAN THALASSICAGENCIES SHIPPINGMANAGEMENT &CONSULTANTS S.A.*CRETANFILOXENIA S.A.MINOANAGENCIES S.R.L.MINOAN CRUISES S.A.MEDITERRANEANFERRIES S.R.L.*HELLAS FLYINGDOLPHINS S.A. –GROUP OF COMPANIESFORTHnet S.A.GROUP OF COMPANIESIraklion, 22 April 2004The Chairman of the Board of DirectorsConstantinos Clironomos58MINOAN LINES S.A. - Annual Report 2003