Creative Greece 2018

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NEW TIMES PUBLISHING

CREATIVE GREECE 2018

EXPORT LEADERS

OWNED BY NEW TIMES PUBLISHING 17 Kadmias St., Athens 118 55 - Greece Tel: (+30) 210 3427 481, (+30) 210 3428 667 Fax: (+30) 210 3421 955 URL: www.newtimes.gr www.timetv.gr www.traveltimes.gr www.salus.gr Email: info@newtimes.gr

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PUBLISHER Spyros A. Ktenas EDITOR IN CHIEF Dionisis Vasilopoulos EDITORS Natassa Spagadorou George Sakkas Nektaria Karakosta DATA BASE Antonela Toni Nikolaos Prokakis SALES MANAGER Theodoros Tsakaloglou MARKETING DEPARTMENT Othon Vassilopoulos SALES DEPARTMENT Irene Politou

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CREATIVE GREECE 2018

EXPORT LEADERS

Editorial

Greece’s economic future will be judged outside of its borders

By Spyros Ktenas

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At a time when the country and its citizens are agonizing about the developments in our neighbourhood (Turkish aggression in the Aegean and northern Syria, NATO pressures to resolve the issue over FYROM’s name), an interesting meeting was held at the offices of the Hellenic Federation of Enterprises (SEV). Attendants included representatives of some of Greece’s most powerful industrial complexes, such as Titan Cement, Mytilineos, Olympia, Stasinopoulos Group, as well as representatives of the Foreign Ministry. The purpose of the meeting was to prepare the next day for the Greek industry. The interest of this wide-ranging meeting was the fact that attendees were looking at the map of the wider region, observing the new opportunities created in such a liquid environment.

The host of the meeting, Mr. Konstantinos Bitsios, executive vice president of SEV, stressed: “It is imperative that the forces of Greek entrepreneurship and economic diplomacy be combined, to achieve a significant benefit for the national economy and empower Greek companies in international markets.” If one takes into account that representatives of major players and businesses, such as the Pan-Hellenic Association of Pharmaceutical Industries and Eurobank, also participated in the meeting, it is understood that the representatives of a strong core of the business community in the country are trying to catch up with the new opportunities created in the vulnerable environment of the wider region. In fact, they wish to follow the pace of major investment opportunities that are being opened up.

An advocate to the above is the fact that: both the European Commission and the representatives of the domestic industry have redefined the target for the participation of industry in the European and Greek GDP, respectively. As shown by data, there is in Greece at least a strong mass of industrial enterprises that not only resisted the crisis, but also recorded a strong upward trend: it is the export-oriented industrial enterprises. According to data from a survey carried out by the New Times, published in the current issue, the net profits of 1,100 large industrial and manufacturing companies in the country are up 35% in their latest published balance sheets (2016). The increase is much higher if the results include those of Hellenic Petroleum and Public Power Corporation (PPC), which significantly affect the overall picture. According to the findings of the nationwide survey by NEW TIMES (including Hellenic Petroleum and PPC), 1,100 large industrial and productive enterprises in the country: ● Increased their gross earnings from €6.5 billion in 2015 to €10 billion in 2016, recording an increase of 53.2% ● Made total sales of €40.38 billion in 2016 ● Increased total net profits from €750 million in 2015 to €1.8 billion in 2016, or an increase of 142% ● The financial picture of these businesses appears to be improving.

It is therefore worthwhile -- apart from the major national issues, on which decisions must be taken that will not create faults against Greece -- to focus also on the country’s healthy, productive, extrovert forces, which are the only guarantee for a restart of the economy, thus shielding Greece.

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CREATIVE GREECE 2018

EXPORT LEADERS

HELLENIC PETROLEUM SA............................................................... 113 Public Power Corporation S.A................................................. 114 MOTOR OIL (HELLAS) CORINTH REFINERIES S.A............................. 116 PAPASTRATOS.................................................................................. 117 ELVAL............................................................................................... 118 HALCOR........................................................................................... 120

CONTENTS

ENTERPRISE GREECE....................................................................... 122 MYTILINEOS.................................................................................... 124 TITAN CEMENT CO. SA...................................................................... 126

Editorial: 6 Spyros A. Ktenas 113 Export Leaders

ELVALHALCOR ................................................................................. 128 DELTA FOODS S.A............................................................................. 130 VIANEX S.A...................................................................................... 132 Boehringer Ingelheim Hellas S.A............................................ 134 ETHNIKI INSURANCE....................................................................... 135 CorInth PIpeworks..................................................................... 136 BIC VIOLEX SA.................................................................................. 138 FAGE DAIRY INDUSTRY S.A.............................................................. 139 Pharmathen SA............................................................................ 140 MEGA DISPOSABLES SA .................................................................. 141 SARANTIS GROUP............................................................................ 142 PLASTIKA KRITIS SA........................................................................ 143 DEMO SA......................................................................................... 144 ELPEN S.A........................................................................................ 145 CABLEL HELLENIC CABLES.............................................................. 146 SIDENOR, STOMANA INDUSTRY AND THEIR SUBSIDIARIES............ 148 LOULIS MILLS SA............................................................................. 150 Celestyal Cruises........................................................................ 151 BARBA STATHIS SA.......................................................................... 152

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INTERCOMM FOODS SA,.................................................................. 154 ATLAS TAPES SA.............................................................................. 156 INTRALOT S.A.................................................................................. 158 PAVLIDIS MARBLE GRANITE SA....................................................... 159 INTRACOM Defense Electronics................................................. 160 ATRADIUS........................................................................................ 161 ELVIAL S.A....................................................................................... 162 UNI-PHARMA KLEON TSETIS PHARMACEUTICAL LABORATORIES SA.164 KARELIA TOBACCO INC. SA.............................................................. 166 SEMELI WINERY S.A........................................................................ 167 CHITOS SA........................................................................................ 169 MEGARA RESINS S.A....................................................................... 170 TEMES S.A....................................................................................... 171 MP PHARMA.................................................................................... 172 KAFEA TERRA.................................................................................. 174 Frezyderm..................................................................................... 175 LOUX MARLAFEKAS SA.................................................................... 176 GAP SA............................................................................................. 177 VITEX – YANNIDIS BROS.................................................................. 178 EZA, HELLENIC BREWERY OF ATALANTI.......................................... 180 GREEK WINE CELLARS S.A. ............................................................. 182 MEGAPLAST.................................................................................... 183 INTERMED S.A. ............................................................................... 184 ADELCO ........................................................................................... 186 Pharmabelle................................................................................ 187 VIORYL S.A...................................................................................... 188 DUR S.A........................................................................................... 190 EVOIKI ZIMI S.A............................................................................... 192

Creative Greece 2018 index

FITCO S.A......................................................................................... 168

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CREATIVE GREECE 2018

EXPORT LEADERS

Kostis Hatzidakis MP and Vice-President of the New Democracy party

...It is a widely accepted fact that our country offers many opportunities in traditional sectors, such as tourism and agriculture,...

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Turning Crisis into Opportunity After almost 10 years of turmoil, Greece is seeking to enter a path of strong and sustainable growth. This is the only way that our country will be able to create much-needed new jobs and generate prospects for the younger generation.

Greeks have undergone significant sacrifices during these years. These sacrifices have led to improvements in terms of the country’s fiscal performance and, to a certain extent, reform implementation. However, these are necessary but not sufficient steps. In order to leave the crisis behind once and for all, we need to shift towards a new economic model. An economic model which will be based on private investment.

On competitive, export-based companies that will have the potential to achieve significant scale. This type of companies will create a positive multiplier effect for our economy via productivity growth and job creation, initiating a virtuous cycle of innovation and economic growth.

The shift towards this type of model requires, first of all, the restoration of trust in the Greek economy, after several years of uncertainty. Within this context, a positive political climate is a major factor. Greece needs to consistently promote a methodical approach towards reforms, not only in its economy, but also in public administration, the judicial system, the education system, etc. And this approach must be complemented by policy initiatives that will support the implementation of privatizations, in order to attract investment and create jobs.

The second step is to deal with the current

lack of liquidity in the Greek economy.

Decisive steps must be taken in order to reduce the record number of Non Performing Loans with which the Greek banks are currently burdened. Only when this problem is dealt with will the banks be able to start providing much needed loans to businesses, many of which currently see their growth potential stifled by limited access to finance.

Finally, a stable tax system needs to be established in order to facilitate long-term investments. This must be complemented by more competitive tax rates, as well as a framework of tax incentives for investment, including angel investing in innovative Greek start-ups.

The aforementioned initiatives will help the Greek economy realize its untapped potential and utilize its competitive advantages. It is a widely accepted fact that our country offers many opportunities in traditional sectors, such as tourism and agriculture, but also in more hightech sectors such as pharmaceuticals and logistics. The New Democracy party has presented a vast array of policy proposals that will help Greece utilize these opportunities in order to enter a path of strong growth, and is constantly adding to these proposals, after extensive consultations with representatives of businesses, universities, and civil society.

It is no secret that Greece has gone through many adversities in recent years.

However, it is up to us to turn this crisis into an opportunity for positive transformation, and I am certain that we will succeed in forging a brighter future for our country.

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CREATIVE GREECE 2018

EXPORT LEADERS

Elias Athanasiou CEO, Enterprise Greece

As part of our strategy, we held 30 seminars in 2017, reaching over 1,000 entrepreneurs I 12 I

Exports: An Engine for Sustained Growth The strong performance of exports in 2017 has been a major key driver in bringing Greece from crisis back to growth. Taken together with the continued strength of the tourism sector, the successful return to international bond markets, and a rise in both FDI and GDP, all signs indicate that the country is firmly on the road to sustainable economic recovery.

Output from Greek factories and mines accelerated at the fastest pace in ten years, according to a survey of manufacturers, signaling the accelerating recovery in the Greek economy. Much of the increase was driven by ever-growing demand for Greek exports, which rose by 13% last year to a new record high. As the country moves forward with its recovery, further strengthening the export sector will be a central component in translating the economy’s rebound into sustained development and growth.

At Enterprise Greece, one of our core objectives is to support Greek exports.

The recent successes of Greek exports in both new and established markets and across a range of sectors, are a testament to the entrepreneurial spirit, stamina and determination of Greek businesses, large and small. We are committed to building on this success by further expanding our existing programs for supporting Greek exporters in 2018.

One axis of our export promotion strategy is to organize and implement participation in international trade shows. In the past year, Enterprise Greece brought a growing number of Greek companies, which are expected to reach 1,000 in 2018, to major

trade shows around the world, such as the Dubai Big 5 (construction & building materials) trade fair, the Milano Host 2017 (hospitality equipment) exhibition, and Anuga in Cologne, the biggest trade show in the world for food & beverages, where a record number of 160 Greek companies participated. The Greek participation in Anuga attests both to the strength of the food & beverage sector and to the rapidly increasing export readiness of Greek enterprises.

The second axis in our strategy is to develop the export readiness of Greek companies.

As part of our strategy, we held 30 seminars in 2017, reaching over 1,000 entrepreneurs.

Our seminars offer detailed and actionable information for executives on topics like branding, packaging & labeling, localization of message and product, customer & market targeting, giving businesses the tools to enter new markets.

Our export promotion strategy is further enhanced with road shows, B2B events, and bringing in hosted buyers from abroad. In all of our initiatives, we actively seek to build a collaborative ecosystem with local authorities, research institutions, as well as local chambers and cooperatives, and to promote the regions of Greece as entrepreneurship incubators.

This year has the makings of another banner year for Greek exports. Enterprise Greece is ready to sustain and expand its efforts on behalf of Greek exporters, with a view to building the export sector into a steadily expanding engine of growth for Greece’s economy. We salute the Greek entrepreneurs who make it all possible.

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CREATIVE GREECE 2018

EXPORT LEADERS

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■ Investment promotion Entreprise Greece comprehensive strategy to promote Greece and support investment activities in the country includes: ●O rganizing investment missions abroad. ●C oordinating business delegations to accompany official presidential and ministerial visits overseas. ●R eceiving international trade delegations to Greece from other countries. ● I nforming investors about Greece’s institutional, legal, tax and financial regulations. ●M aintaining and updating a portfolio of investment opportunities and projects. ● S upporting major investments through Greece’s Strategic Investment (Fast Track) process. ● Troubleshooting problems that arise though our special, investor mediation (Ombudsman) service. ●R ecommending regulatory changes to improve the legal framework for investments. ●H andling investor requests for information through our front office support.

■ FACTS: ● Organization of 35 International Investments Forums ●1 Forum every 10 days ●C oordination of 9 official governmental business missions ●M ore than 2000 investor meetings per year (over 40 per week) ●M ore than 4000 golden visa resident permits issued ●1 3 Fast track investments (approved investment projects valued at € 3,5 billion)

■ Export Promotion Entreprise Greece export promotion strategy includes: ●O rganizing Greek participation at international exhibitions. ●P romoting Greek products and services. ●H osting buyers and importers from major foreign markets, and organizing business-to-business meetings with Greek companies. ●O rganizing trade missions and exhibitions to promote Greek products. ● I mplementing trade promotion programs co- financed by the European Union. ●P roviding Greek exporters with up-to-date information and guidance to help them penetrate foreign markets. ● Training prospective exporters how to create and go about selling products abroad. ● Entreprise Greece primary goal is to connect Greek businesses with international, national and local partners abroad. Through such mutually beneficial cooperation, it aims to create a supportive business climate that will both boost Greek exports, and support economic growth.

■ FACTS: ● Organization of 54 international exhibitions annually ●1 Exhibition per week ●O ver 20 promotional events per year ●O ver 900 Greek businesses participate in trade shows ●1 6,700 m2 of exhibition surface available to Greek businesses ●+ 18.2% exports growth in first half of 2017 ●O ver € 25 billion exports in 2016

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CREATIVE GREECE 2018

EXPORT LEADERS

Konstantinos Bitsios Executive Vice-Chairman SEV Hellenic Federation of Enterprises

As Greece’s economy recovers, it is crucial to focus on boosting exports and helping Greek exporters in existing and new markets I 16 I

Why Exports matter and what SEV is doing about this Export growth has become a source of optimism for the prospects of Greece’s economy.

Greek exports reached record numbers in 2017, rising to 28.1 billion euros compared to 25.5 billion euros in 2016. This represents a growth of 13.2 pct (without oil products, the growth rate is 7.2 pct).

However, the Greek export-to GDP ratio has been falling short of both EU and OECD averages. Greece’s export performance still lags dramatically behind other European countries with similar economies and characteristics, while our trade balance remains negative by almost 20 billion euros. For instance, Portuguese exports reached 55.1 billion euros, while Ireland achieved exports worth 120 billion euros. Even Slovenia, a country with a population size less than 1/5 of Greece’s, exported goods worth 34 billion euros in 2017.

One cause of the weakness of Greek exports can be traced to externalities, such as the austerity policies of the past ten years which led to the overtaxation of the economy. Or the lack of a coordinated policy for the growth of exports: successive governments employ different strategies with no continuity and long term goals. This leads to confusion and waste of resources.

But there are also other causes directly related to the weak structure and organization of Greek companies: ● Lack of economies of scale: in most sectors, production is highly fragmented and cannot fulfill the requirements of today’s global economy for orders of significant volumes and consistent production. ● Low value added products: with the exception of traditional industrial powerhouses, few others create goods that offer a large margin between their final price and the cost of the inputs used for their production. ● Inability to develop strong international brands: few Greek companies have been able to develop internationally-recognized brand names. This, to a large part, is a result of the fragmentation of production and the lack of necessary resources for effective promotion in foreign markets.

SEV has set forth a series of proposals to address the issues: ● Measures for a coherent exports strategy: proper coordination of all public and private institutions involved in this process with specific focus on a set of realistic, attainable short, medium and long term goals. ● Lower income tax rates and social security payments: Companies that export, require highly skilled staff. Lower energy costs that will strengthen the competitiveness of Greek enterprises in the international markets. ● Adoption of new, innovative technologies that will allow Greece to cover the distance from other European countries in the field of digital economy. Greece ranks 26th, above Romania and Bulgaria, in the EU Digital Economy and Society Index. ● Minimization of bureaucratic hurdles for businesses and performance improvement of the public administration.

How SEV helps assist exporters SEV has initiated ExportReady, a comprehensive program of assistance to Greek export companies. ExportReady has three pillars: a) ExportReady Master, which consists of a series of workshops on specialized export topics b) ExportReady Discover, which offers strategic intelligence for 8 sectors and 75 foreign target markets c) Export Ready Connect, which gives the opportunity to Greek companies to participate in trade missions and business networking in foreign markets in cooperation with the Foreign Ministry.

As Greece’s economy recovers, it is crucial to focus on boosting exports and helping Greek exporters in existing and new markets. In rebuilding the economy, we should focus on generating more jobs in more Greek industries by producing and exporting more goods.

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CREATIVE GREECE 2018

EXPORT LEADERS

Christina Sakellaridis President of the Panhellenic Exporters Association

Everyone must understand that investing in extroversion is a one-way road to get through the crisis and to create a sustainable production model…

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Investing in Extroversion is a One-Way to Growth Exports have shown remarkable resilience during the financial crisis and, at the same time, have supported and continue to support Greece’s economy during tough times, providing a way out for Greek businesses wanting to revive their growth.

Despite the crisis and the adversities that exist for entrepreneurship (e.g. capital controls, lack of liquidity, high taxation), Greek exporters have managed to survive through the recent tough years.

By planning and by having patience and perseverance, they have strengthened their position on international markets and have lately reached a record of extroversion, contributing greatly to the country’s effort to return stronger to the world stature.

A new historical record was made in 2017 by Greek exports. According to the analysis of the Panhellenic Exporters’ Association, taking into consideration temporary data by ELSTAT (Hellenic Statistical Authority), exports, including oil products, in 2017 rose by 13.2% to 28.83 billion euros compared to 25.46 billion euros a year earlier. The value of nonoil exports increased by 7.1% to 19.98 billion euros against 18.65 billion euros in 2016.

Removing uncertainty along with the recovery of the European economy creates conditions for Greek exporters to exploit the huge prospects that exist for Greek products in and out of the European Union.

The conjuncture is particularly favorable for Greece and should not be missed out.

Global interest in Greek products is growing constantly, while there are more and more foreign companies wanting to cooperate with Greek companies and invest in Greece.

I would say that it is the right time to ‘make the big step forward’. As long as the State

facilitates our work and supports us in practice.

The steps needed to launch exports in order to posses the position they deserve are: 1. Lower taxation: Taxation should be more favorable and reach the levels of the main foreign competitors so that Greek products are competitive.

2. Definitive removal of capital controls: This will act as a catalyst for market revival and restoration of regularity in trade within and outside borders.

3. Restoration of Financing: Bank liquidity should be increased so that Greek companies, especially SMEs can compete with the corresponding European ones and keep their headquarters in Greece.

4. Map out a National Growth Strategy, focusing on Extroversion.

Studies by international organizations have shown that with the necessary reforms, Greek exports can grow up to 30%, or 16 billion euros. Correspondingly, if Greece exploits its competitive advantages and manages to increase its exports by at least 10%, reaching the EU’s extroversion average, then there will be a surplus of 20 billion euros annually.

Everyone must understand that investing in extroversion is a one-way road to get through the crisis and to create a sustainable production model that creates jobs, generates revenue for the State and withstands the vibrations of the global economy.

PEA is constantly undertaking new initiatives to stimulate exports, opening up new horizons, and recently collaborating with international e-commerce giants.

The Panhellenic Exporters Association (PEA) was established in 1945 and represents the entire body of Greek exporters. It is the main export organisation in Greece, and its members include enterprises, cooperatives and organisations engaged in exports of various sectors from all geographical regions of Greece. Members of PΕΑ produce, manufacture and export a large variety of industrial and agricultural products to practically every country in the world.

PEA is in a position to inform foreign importers about export opportunities for all products exported by Greece and to provide its services in arranging meetings between interested enterprises and Greek exporters.

The Association has launched Τhe Greek product Importer File Service. In addition to the information it provides through its portal www.pse.gr, PEA is in a position to develop an importer register of parties interested in purchasing Greek products following a request to this effect.

PEA undertakes activities such as: - Newsletters for the progress and prospects of Greek exports - Alerts, Key Notes and Circulars on export issues - Researches, Studies, Case Studies for goods and services, key markets - Networking and clustering businesses and promoting cooperation - Special events for the promotion of Greek exporters - Seminars, conferences and galas - Meetings, consultations and round tables of exporting companies region, by exporting market and by product/service - Vocational training activities - Promotion of goods and services - Joint participation in Exhibitions, Conferences and Seminars - Access and support to UN and EU procurements 11 Kratinou, 10552, Athens, Greece Tel.: +30 210 52 28925 Fax: +30 210 52 42568 Email: pse@otenet.gr Website: http://www.pse.gr/

Profile n EXPORT SHARE BY SECTORS - 2017 of Panhellenic VALUE 2017 Exporters PRODUCT CATEGORY (millions Association euro)* OIL PRODUCTS-FUELS INDUSTRIAL GOODS FOODS & LIVE ANIMALS CHEMICALS MACHINERY MISC. INDUSTRIAL GOODS RAW MATERIALS DRINKS & TOBACCO OILS CONFIDENTIAL PRODUCTS TOTAL

CHANGE %

8.967,9 4.633,7 4.353,5 3.064,6 2.594,5 2.108,1 1.291,3 715,4 570,4 532,6 28.832,0

31,1% 16,1% 15,1% 10,6% 9,0% 7,3% 4,5% 2,5% 2,0% 1,8%

*Analysis on ELSTAT monthly projections. Source: PSE-KEEM

n Export sectors - January - December 2017/2016 PRODUCT CATEGORY OIL PRODUCTS-FUELS INDUSTRIAL GOODS FOODS & LIVE ANIMALS CHEMICALS MACHINERY MISC. INDUSTRIAL GOODS RAW MATERIALS DRINKS & TOBACCO OILS CONFIDENTIAL PRODUCTS

VALUE 2016 (millions euro)* 6.908,9 3.975,5 4.268,4 2.736,7 2.598,0 1.952,3 1.021,1 737,1 673,1 540,2

VALUE 2017 (millions euro)* 8.967,9 4.633,7 4.353,5 3.064,6 2.594,5 2.108,1 1.291,3 715,4 570,4 532,6

CHANGE % 29,8% 16,6% 2,0% 12,0% -0,1% 8,0% 26,5% -2,9% -15,3% -1,4%

*Analysis on ELSTAT monthly projections. Source: PSE-KEEM

n EXPORT SHARE BY SECTORS - 2017 30 25 20 15

18,36

18,6

19,98

10 5 0

7,46

6,81

8,85

2015

2016

2017

EXPORTS/YEAR (billion euros)* Oil Products Remaining Sectors Including Oil Products

2015 7,46 18,36 25,82

2016 6,81 18,65 25,46

2017 8,85 19,98 28,83

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CREATIVE GREECE 2018

EXPORT LEADERS

Dr Kyriakos Loufakis President of Greek International Business Association

2018 can be a landmark year for Greece’s modern economic history, provided that we create the appropriate conditions Over the past few years, Greece has faced a severe economic depression which has had an adverse impact on entrepreneurship and exports. Greek entrepreneurs had to operate within a negative economic environment resulting in a sharp decline of GDP since 2008 and the deterioration of the Greek economy. Especially for exporters, things have been even worse as a result of tough competition in foreign markets. After almost 10 years since the beginning of the economic crisis, problems such as overtaxation, the banking system’s lack of liquidity and capital controls, which affect international transactions still exist.

However, 2017 has been a year in which expectations on the future have risen mainly due to our export performance.

In January to November 2017, exports of goods stood at 26.2 billion euros compared to 23.1 billion euros in the same period a year earlier, showing a 13.3% increase, one of the highest among EU countries.

Accordingly, excluding fuels and lubricants, exports were up by 7.0% on a yearly basis.

Thus, exports can be the mainspring of the Greek economy. In order to make this happen and improve our economic situation, we have to tackle existing problems. Despite the upward trend of

our export performance, Greek imports also went up significantly. In particular, the total value of Greek imports stood at 46.0 billion euros in January to November compared with 40.2 billion euros in same period in 2016, recording a 14.4% increase, and as a result Greece recorded a deficit of 19.8 billion euros, or a 15.9% increase on a yearly basis. This indicates the main problem of Greek exports: the value added is low.

At SEVE, we strongly believe that the substitution of imports by domestic products and by improving our merchandise trade balance, the Greek economy has the potential to initiate a steady upward movement towards an economical resurrection in the future.

Thus, a stable and trustful economic environment is considered essential, with financial stability and safety in international transactions, combined with a liquidity injection. In addition, it is vital for us to take advantage of all our competitive advantages, such as our geographical position and our highly educated working capital, focusing on extroversion. 2018 can be a landmark year for Greece’s modern economic history, provided that we create the appropriate conditions.

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2018 can be a landmark year for Greece’s modern economic history I 20 I

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CREATIVE GREECE 2018

n Attica - Region’s export trade

EXPORT LEADERS

(amounts in thousand euros)

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2012

2013

2014

2015

Imports

31.642.664

30.914.731

32.011.964

29.326.976

30.301.067

Exports

12.424.656

12.673.304

13.030.981

12.440.605

12.412.011

Trade balance

-19.218.008

-18.241.427

-18.980.983

-16.886.371

-17.889.056

39,3%

41,0%

40,7%

42,4%

41,0%

Exports/Imports

2016

Other

20% The Greek International Business Association (SEVE) was established in 1975 as a non-profit organisation and is currently the largest association of Greece’s exporting businesses, numbering approximately 500 member companies.

These companies manufacture a great variety of products, exported to almost every country in the world.

SEVE’s mission is ● t o consolidate, protect and promote the professional, economic, social and ethical interests of its members ● t o promote and support Greek products in foreign markets ● t o promote and support the development of international co-operation between Greek and foreign enterprises ● t o conduct market research in foreign countries ● t o collect and disseminate information and statistical data in order to inform its members ● t o cooperate with organisations worldwide ● t o implement European programmes that sustain the economic interests of its members.

27% Attica Region’s export trade

8%

Metals Machinery & Equipment

16%

13%

Chemicals & Plastics

14%

Oil Products

GREEK EXPORTS

BY REGION

A number of useful conclusions can be drawn about the export performance of Greek regions in the period 2012-2016, from 3% OtherInstitute for a study carried out by SEVE’s 5% Export Research and Studies (IERS), entitled: Drinks &by Tobacco “Mapping Greek export activity region and by county”. The scope of the study was Peloponnese to highlight the degree ofFood extroversion Products Region’sof each region, as well as the dynamically export trade developing sectors and the markets Oil peak Products 15% that can, with appropriate aids, help increase76% the export performance of Greek regions. The study has been systematically compiled since 2006, producing and

n Central Macedonia - Region’s export trade 2012

(amounts in thousand euros)

Imports Exports Trade balance

4% Exports/Imports 4%

6.628.038 4.667.486 -1.960.552 11% 70,4%

2013

2014

2015

5.309.284 4.335.750 -973.534 81,7%

5.356.754 4.336.733 -1.020.021 81,0%

5.318.481 4.070.823 -1.247.659 Other 76,5%

Thessaly Region’s 13% 21% export trade

8%

49%

Central Macedonia 19% Region’s export trade

12% 13%

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Food Products

16%

15%

32%

Oil Products

2016

5.305.759 4.238.059 -1.067.700 79,9%

Machinery & Equipment Other Textiles & Clothing Metals Metals Chemicals & Plastics Food Products Textiles & Clothing

Oil Products Food Products

Other

Other

20%

27%

2012

2013

2014

Imports 13% 7.093.687 6.549.89016%6.473.098 Exports 5.577.236 5.213.996 4.800.034 14% Trade balance -1.516.451 -1.335.894 -1.673.064 Exports/Imports 78,6% 79,6% 74,2%

3%

Metals

15%

Machinery & Equipment

2015

2016

(amounts in thousand euros)

Chemicals3.832.334 & Plastics 4.350.843

Imports

3.666.611 3.386.885 Oil Products -684.232 -445.449 84,3% 88,4%

Exports Trade balance Exports/Imports

2013

2014

2015

2016

580.317 1.087.273 506.956 187,4%

523.598 1.086.645 563.047 207,5%

553.596 980.286 426.690 177,1%

596.426 1.105.146 508.720 185,3%

649.029 1.215.538 566.510 187,3%

11%

Food Products

Other Oil Products

13%

Oil Products

21%

76%

8%

disseminating very important information on regional foreign trade.

SEVE, over time and especially during the crisis, in spite of the extremely difficult conditions affecting 11%everyone, with all its strengths and absolutely by its own means, has4% been serving export companies 4% and efficiently, providing consistently upgraded and integrated services and tools Thessaly for business development, networking , 13% trainingRegion’s information, and research. 49% export trade 21% Greece saw its 2016 export performance inch down, as exports of goods amounted 32% to 25.1 billionCentral euros,Macedonia compared to 25.4

76%

Oil Products

2012

4% 4%

Drinks & Tobacco

Peloponnese Region’s export trade

Food Products

n Thessaly - Region’s export trade

Other

5%

15%

Peloponnese Region’s export trade

Food Products

Attica Region’s 8% n Peloponnese - Region’s export trade export trade (amounts in thousand euros)

Drinks & Tobacco

Thessaly Region’s export trade

Machinery & Equipment

49%

Central Macedonia 19% Region’s export trade

Other Textiles & Clothing Metals Metals

32%

Chemicals & Plastics Food Products Textiles & Clothing

Oil Products regions of billion euros in 2015, down by12% 285.8 million share (70%), followed by the 15%Macedonia (12%) and Peloponnese Central euros, or 1.1% yoy, while troubles for Greek 13% (9%), thus forming 91.4%Food Products of the national exporters continued for another year. By contrast, the country’s imports in 2016 rose commodity imports.

In the period 2012-2016, exports recorded by 487.1 million euros, or 1.1% annually, Other in the widening of the trade higher activity in the regions of the Ionian resulting Islands (78%), Crete (30%), North Aegean deficit by 772.9 million euros.

Oil Products (28%), Epirus (24%), East Macedonia and According to the results of the study, 66% Thrace (15%), Western Greece (12%), of Greek exports come from the regions of Other & Equipment Thessaly (12%), Central Greece (3%) and AtticaMachinery (49%) and Central Macedonia16% (17%), Other South 23% Aegean (1%). In contrast, export followed by Peloponnese (13%), Thessaly Machinery & Equipment drops were recorded in the regions of (5%) Textiles and Central Greece (4%).

Regarding & Clothing Metals 8% observed Peloponnese (39%), Western Macedonia imports of commodities, it was Eastern Macedonia Chemicals & Plastics that the Attica region had the largest & Thrace Metals ❱❱❱ Chemicals & Plastics

19% Region’s Food Products n Eastern Macedonia trade export trade& Thrace - Region’s export Textiles & Clothing

13% - Region’s export trade n CRETE export trade

Textiles & Clothing

(amounts in thousand euros)

(amounts in thousand euros)

2012

22% 2013

2014

Food Products2016 2015

262.589 18% 408.685 146.096 155,6%

310.276 556.879 246.603 179,5%

394.519 533.271 138.753 135,2%

8%

Imports 12% Exports Trade balance Exports/Imports

2012

446.533 666.649 13% 220.116 149,3%

2013

432.446 15% 688.467 256.021 159,2%

2014

449.313 729.429 280.116 162,3%

2015

2016

Oil Products

442.507 456.008 711.880 Food Products766.586 269.373 310.578 160,9% 168,1%

Region’s

Imports Exports Trade balance Exports/Imports

1% 16%

Other

23%

8%

Eastern Macedonia & Thrace Region’s 13% export trade

22%

Food Products Non-Ferrous Minerals

2%

Other

13%

Machinery & Equipment

CRETE Region’s export trade

Textiles & Clothing

22%

410.236 531.813 121.578 129,6%

2% 7%

Chemicals & Plastics

18%

1%

Machinery & Equipment

399.281 586.765 187.483 147,0%

Non-Ferrous Minerals

54%

Textiles & Clothing Oil Products Chemicals & Plastics Food Products

I 23 I

Attica

-0%

Greece Western Macedonia

-1% -8% -9%

South Aegean

-9%

Crete

-9% -14% -15%

Peloponnese

CREATIVE GREECE 2018

Ionian Islands Main Land Greece Epirus

EXPORT LEADERS

-16%

-20

-15

-10

-5

0

5

n Annual Exports Change (Period: 2015-16)

n Total Exports Change (Period: 2012-16)

Thessaly

Ionian Islands

10%

Eastern Macedonia & Thrace

8%

Crete

North Aegean

7% 6%

North Aegean

Western Greece Central Macedonia Greece

24% Eastern Macedonia & Thrace 15% Western Greece 12% Thessaly 12% Main Land Greece 3%

-1% -8%

Peloponnese Western Macedonia South Aegean Crete Ionian Islands Main Land Greece Epirus -20

-15

-10

-5

78% 30% 28%

Epirus

4% -0%

Attica

10

0

-9% -9%

South Aegean

1%

Attica

0%

-9% -14%

Greece

-8%

Central Macedonia

-15% -16%

Western Macedonia

-9% -30%

Peloponnese 5

10

-40

-30

-39% -20

-10

0

10

20

30

40

50

60

70

80

❱❱❱ Ionian Islands

78% Crete 30% North Aegean 28% Epirus 24% Eastern Macedonia & Thrace 15% Western Greece 12% Thessaly 12% Main Land Greece 3% South Aegean 1% Attica 0% Greece

-8%

Central Macedonia

-9% -30%

Western Macedonia Peloponnese -40

-30

-39% -20

-10

0

10

20

30

40

(30%) and Central Macedonia (9%).

At sector level (excluding petroleum products, which contribute up to 27% to national exports), a significant share in exports was held by the Attica region (27%), Peloponnese (76%) and Central Macedonia (15%). The second largest export industry was foodstuffs, which increased by 327.3 million euros, or 7% on an annual basis. Notably, apart from the region of Crete, all other Greek regions have recorded higher export performance in the food sector. Also, major contribution to regional and foreign trade came form the of and plastics, 50 sectors 60 70 chemicals 80 metals and machinery and equipment.

As far as export destinations and analysis of export performance per market are concerned, it is evident that in 2016,

internal EU markets were Greece’s most important strategic partners. More specifically, Italy and Germany were the most important strategic partners at country and regional levels, as they featured in the top-10 export destinations of all Greek regions, except for the region of Peloponnese where Germany ranked 11th in the export destination list.

According to the study results, trade balance deficits were recorded in the regions of Attica (€17.9 million), Central Macedonia (€1.1 million), the Peloponnese (€445.4 million) and Mainland Greece (€ 172.8 million). In contrast, the largest trade balance surpluses were recorded by the regions of Thessaly (€566.5 million) and East Macedonia and Thrace (€310.6 million).

n Total Exports by Region for the year 2016 (in million euros)

25.143

12.412

4.238

Greece

I 24 I

Attica

3.387

1.216 1.032 767

548

532

312

264

199

153

84

Central Peloponnese Thessaly Main Land Eastern Western Macedonia Greece Macedonia Greece & Thrace

Crete

Western Macedonia

Epirus

North Aegean

South Aegean

Ionian Islands

I 25 I

CREATIVE GREECE 2018

EXPORT LEADERS

Dimitris Giannakopoulos Executive Vice-President & Deputy C.E.O. of VIANEX S.A.

...the industry emerged as the main pillar of financing of the health system, contributing the one third (1/3) of the pharmaceutical expenditure...

I 26 I

It‘s time for a fair increase in pharmaceutical spending As the end of Greece’s loan programmes (memorandums) draws near, and having no illusions about the tight financial framework that will continue to exist, the pharmaceutical industry should claim every opportunity to correct certain distortions in the pharmaceutical policy that has been applied in recent years.

The rationalization of health costs is a standing demand by the industry. Public funding declined by 42.5% in the fiscal adjustment period, which resulted in an increase in private health expenditure, with the burden shifting to citizens and businesses. Although drug costs account for only 15% of total health spending, there has been an uneven focus on cut down policies so far, leaving the remaining 85% almost untouched. The public pharmaceutical expenditure in the years of economic crisis has decreased by 62%, while patients’ needs are growing rapidly, as more groups now have access to health care, such as uninsured citizens and refugees-immigrants.

According to a recent study by IOBE (Foundation for Economic & Industrial Research), the significant reduction in government contribution led, in 2017, to an estimated contribution by patients of up to 25% (same payments «out of pocket» and institutionalized contribution), and the contribution of the pharmaceutical industry, with the mandatory rebate and clawback mechanisms, was calculated at the remaining 25% (875 million euros).

Hospital medication expenditure is estimated at 760 million euros for the period 2012-2015. However, as of 2016, and as a result of the closed budget enforcement, it declined significantly, and it is estimated to further drop to

530 million euros in 2018 – down 30% compared to 2015. Therefore, the reduction in public hospital pharmaceutical expenditure was passed on exclusively to the pharmaceutical industry, with the compulsory rebate and clawback mechanisms.

It is obvious that the public pharmaceutical spending -- set in the last 3 years at 1.945 billion euros and the hospital spending at 530 million euros -- is not enough to meet the needs of the population. However, this did not affect patient access to necessary treatments, as the industry emerged as the main pillar of financing of the health system, contributing the one third (1/3) of the pharmaceutical expenditure, i.e. four times more than the corresponding European average, and the highest percentage of any other sector of the Greek economy.

The above-mentioned findings have been drawn by the political leadership of the Health Ministry, so the stumbling block is now to specify the road map that will lead to increased pharmaceutical spending.

Based on the data, the required increase is estimated at around 500 million euros for out-of-hospital and hospital expenditure.

The industry, however, has filed a number of substantiated proposals for rationalizing expenditure, such as: application of treatment protocols and patient registers; control of the prescription and elimination of waste; put a ceiling to the automatic refund mechanism (clawback); realistic funding of hospitals; and, exclusion of vaccines and blood derivatives from pharmaceutical expense. To sum up, it must be finally said that an increase in pharmaceutical spending “is fair and the time has come to become a reality.”

CREATIVE GREECE 2018

EXPORT LEADERS

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CREATIVE GREECE 2018

EXPORT LEADERS

Dimitris Mathios President of the Association of Industries of Attica-Piraeus (SVAP)

FEDERATION OF ATTICA & PIRAEUS INDUSTRIES

The adoption of a national target for manufacturing must be done with broad consensus…

I 28 I

Industry’s GDP contribution at 12% would be an extroversion landmark Greece’s economy has neither the luxury to wait nor the comfort to remain out of order. And we, with our knowledge of the market and enterprising, see the urgent need to boost export-oriented industrial production and productive investment as a priority for a stable and sustainable recovery of the Greek economy.

Industry, and in particular manufacturing, is at the heart of every modern economy and plays a key role in growth, employment and social cohesion.

It is no coincidence that in recent years, especially after the global crisis of 2008, Europe and the US have implemented industry-building policies by recognizing its contribution to the competitiveness of their economies.

In my view, the starting point should be a commitment to a national target of boosting manufacturing contribution to GDP to 12% by 2020, from 8.6% today and to 15% in the medium term.

In other words, we should monitor the European route in the new industrial revolution as the European Union has recently adopted a European Industrial Strategy, with the aim of increasing the contribution of manufacturing to 20% of European GDP by 2020.

To start from the end, as far as the plan and its needs are concerned, what I personally believe –agreeing with the collective positioning of the country’s industry– is that the country’s decisive and sustainable exit from the crisis requires a new production and development model based on the strengthening of domestic production, and in particular on the production of internationally traded goods.

A medium-term industrial development plan is a necessary start to overcoming long-term delays and a progressive convergence towards the European average.

Let us now look at the target. The adoption of a national target for manufacturing must be done with broad consensus, within the framework of a long-term strategy, to be implemented with appropriate national and regional policies.

This national strategy should be aimed at the qualitative upgrading of Greek manufacturing in four main directions: Extroversion and participation in international value chains; faster and more effective integration of innovation; acceleration of new productive investments; and, improvement in the business environment, requiring the following: - Develop a national extroversion strategy that will document the triptych: critical markets; competitive market-based products; and, penetration mechanisms by market and product, with private sector involvement in its design and implementation.

- Reform mechanisms to support and promote the internationalization of Greek enterprises, with integrated strategic information, networking and on-site support services.

- Rationalization of cross-border trade procedures towards cheaper, faster and simpler customs and pre-customs services.

- Establishment of “Exporter Service Centers” at major customs offices around the country to offer priority services to companies with significant export flows.

- Support to companies and employees to adapt to the requirements of internationalization and development of innovative products and processes, with modern organizational systems and employee skills development plans.

- Creation of a single tax portfolio for each export company to directly offset any kind of credit/debit taxes, fees, duties, etc. (including VAT).

n Greek imports and exports January-December 2015, 2016 & 2017 2015

2016

% of Change % of Change 16/15 17/16

2017

(in million €) Exports

25.482,4

25.150,0

28.463,5

-1,3%

13,2%

Imports

42.655,6

43.124,2

49.026,6

1,1%

13,7%

Trade Balance

-17.173,2

-17.974,2

-20.563,2

4,7%

14,4%

(in million $) Exports

28.261,7

27.819,8

32.078,8

-1,6%

15,3%

Imports

47.307,9

47.702,0

55.253,9

0,8%

15,8%

Trade Balance

-19.046,2

-19.882,2

-23.175,0

4,4%

16,6%

* Data for the period Jan. - Dec. 2015, 2016 & 2017 are provisional Source: ELSTAT - Data processed by KEEM

n Greek trade and composition per single category January - December 2017 (in million euros) Code

Product

Value

% of Change

% Composition

2017* 2016*

17*/16*

2017*

2016*

Agricultural products 5.547,9 5.629,2

-1,4%

19,5%

22,4%

0

Foodstuffs and livestock

4.279,9

4.230,9

1,2%

15,0%

16,8%

1

Drinks & tobacco

705,8

729,9

-3,3%

2,5%

2,9%

4

Animal or vegetable oils and fats

562,2

668,4

-15,9%

2,0%

2,7%

2

Non-edible raw materials excluding fuel

1.279,6

1.013,9

26,2%

4,5%

4,0%

Fuels

8.967,9

6.896,6

30,0%

31,5%

27,4%

Minerals, fuels, lubricants, etc.

8.967,9

6.896,6

30,0%

31,5%

27,4%

Industrial products

12.139,1 11.066,0

9,7%

42,6%

44,0%

5

Chemicals and related products (μ.α.κ.)

3.018,5

2.701,7

11,7%

10,6%

10,7%

6

Industrail items classified per raw material

4.567,0

3.921,8

16,5%

16,0%

15,6%

7

Machinery & transport material

2.531,3

2.553,7

-0,9%

8,9%

10,2%

8

Miscellaneous industrial items

2.022,3

1.888,9

7,1%

7,1%

7,5%

529,0

544,3

-2,8%

1,9%

2,2%

9

Other Items and transactions not classified per category Total exports

529,0

544,3

-2,8%

1,9%

2,2%

13,2%

100,0%

100,0%

Exports 0+1+4

3 3 5-8

9

0-9

28.463,5 25.150,0

❱❱❱ I 29 I

CREATIVE GREECE 2018

EXPORT LEADERS

❱❱❱ Code

Product

Value

% of Change

% Composition

2017* 2016*

17*/16*

2017*

2016*

Imports FEDERATION OF ATTICA & PIRAEUS INDUSTRIES

Vision and objectives of the Federation of Attica & Piraeus Industries Our belief is that modern technology, competition rules and business ethics are the factors that can lead to the fruition of the industry’s vision.

We are confident that the state, politicians and social groups, can perceive the need to avoid policies that are working at the expense of other policies.

Efforts for the environment should not be exaggerated, without however crossing the limits.

0+1+4

All of the above form the foundation on which the Federation’s vision, prospects and aspirations are based.

6.425,6

6.118,1

5,0%

13,1%

14,2%

0

Foodstuffs and livestock

5.516,7

5.267,4

4,7%

11,3%

12,2%

1

Drinks & tobacco

623,4

611,4

2,0%

1,3%

1,4%

4

Animal or vegetable oils and fats

285,4

239,3

19,3%

0,6%

0,6%

Raw materials

1.206,2

1.059,4

13,9%

2,5%

2,5%

2

Non-edible raw materials excluding fuel

1.206,2

1.059,4

13,9%

2,5%

2,5%

12.213,4

9.728,5

25,5%

24,9%

22,6%

3

Fuels Minerals, fuels, lubricants, etc.

Industrial products

12.213,4

9.728,5

25,5%

24,9%

22,6%

28.928,7 26.173,1

10,5%

59,0%

60,7%

2

3

5-8

We therefore, ask the State, the government and the political world to understand these principles and the real needs for Greece’s further growth inside its natural economic space, that is the European Union.

The Federation of Attica and Piraeus Industries will insist on the incorporation of its beliefs into the country’s growth vision, as the international practice and the successful growth strategy of developed countries have transformed the need for such policies into a principle and planning for the future of the global economy.

Agricultural products

5

Chemicals and related products

7.232,4

6.734,1

7,4%

14,8%

15,6%

6

Industrail items classified per raw material

5.719,6

5.057,3

13,1%

11,7%

11,7%

10.907,5

9.505,4

14,8%

22,2%

22,0%

5.069,1

4.876,3

4,0%

10,3%

11,3%

Other

252,8

45,1

460,6%

0,5%

0,1%

Items and transactions not classified per category

252,8

45,1

460,6%

0,5%

0,1%

13,7%

100,0%

100,0%

7 8 9 9 0-9

Machinery & transport material Miscellaneous industrial items

Total imports

49.026,6 43.124,2

* Data for both years are provisional Note: Given that data are provisional, export figures per major products categories (Agricultural products, Raw materials, Fuels, Industrial products, Other), may not be accurate and may not depict the current trends.

Source: ELSTAT - Data processed by KEEM

❱❱❱

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CREATIVE GREECE 2018

EXPORT LEADERS

FEDERATION OF ATTICA & PIRAEUS INDUSTRIES

❱❱❱

n GREEK EXPORTS PER ECONOMIC ASSOCIATION January - December 2017* (in million euros) ECONOMIC ASSOCIATIONS WORLD OECD EU-28 Euro zone G7 North America BRICS Countries Middle East & N. Africa OPEC Countries Gulf Cooperation Council (GCC) Organization of the Black Sea Economic Cooperation (BSEC) Eurasian Economic Union North Africa Sub-Saharan African Countries MERCOSUR Countries Ship supplies

EXPORTS 2017 28.463,5 15.443,3 15.100,7 10.518,5 8.287,6 1.439,8 895,7 4.279,2 1.560,2 1.042,6 5.151,4 271,0 1.410,9 227,2 86,9 0,9

2016 25.150,0 13.710,6 14.020,0 9.798,1 7.797,5 1.402,8 753,4 3.679,9 1.382,6 782,6 4.299,4 249,1 1.475,5 181,6 165,1 5,0

% of CHANGE 17/16 13,2% 12,6% 7,7% 7,4% 6,3% 2,6% 18,9% 16,3% 12,8% 33,2% 19,8% 8,8% -4,4% 25,1% -47,4% -82,6%

% COMPOSITION 2017 100,0% 54,3% 53,1% 37,0% 29,1% 5,1% 3,1% 15,0% 5,5% 3,7% 18,1% 1,0% 5,0% 0,8% 0,3% 0,0%

2016 100,0% 54,5% 55,7% 39,0% 31,0% 5,6% 3,0% 14,6% 5,5% 3,1% 17,1% 1,0% 5,9% 0,7% 0,7% 0,0%

n GREEK IMPORTS PER ECONOMIC ASSOCIATION January - December 2017* (in million euros) ECONOMIC ASSOCIATIONS WORLD OECD EU-28 Euro zone G7 North America BRICS Countries Middle East & N. Africa OPEC Countries Gulf Cooperation Council (GCC) Organization of the Black Sea Economic Cooperation (BSEC) Eurasian Economic Union North Africa Sub-Saharan African Countries MERCOSUR Countries Ship supplies

IMPORTS 2017 49.026,6 28.672,9 24.868,0 18.814,8 12.932,1 867,1 6.661,7 7.593,2 6.472,9 1.066,0 7.764,2 4.578,3 1.548,0 334,5 486,3 0,2

2016 43.124,2 25.576,7 23.145,2 17.537,5 12.393,6 769,1 6.188,0 5.330,3 4.417,5 965,9 6.776,8 4.084,9 931,1 248,7 542,8 0,2

% of CHANGE 17/16 13,7% 12,1% 7,4% 7,3% 4,3% 12,7% 7,7% 42,5% 46,5% 10,4% 14,6% 12,1% 66,3% 34,5% -10,4% -1,9%

% COMPOSITION 2017 100,0% 58,5% 50,7% 38,4% 26,4% 1,8% 13,6% 15,5% 13,2% 2,2% 15,8% 9,3% 3,2% 0,7% 1,0% 0,0%

2016 100,0% 59,3% 53,7% 40,7% 28,7% 1,8% 14,3% 12,4% 10,2% 2,2% 15,7% 9,5% 2,2% 0,6% 1,3% 0,0%

* Data for both years are provisional OECD: France, Netherlands, Germany, Italy, UK, Ireland, Denmark, Portugal, Spain, Belgium, Luxembourg,Iceland, Norway, Sweden, Finland, Austria, Switzerland, Turkey, Estonia, Poland, Czech Republic, Slovakia, Hungary, Slovenia, USA, Canada, Mexico, Chile, Israel, South Korea, Japan, Australia, New Zealand G7: France, Germany, Italy, UK, USA, Canada, Japan BRICS Countries: Brazil, Russia, India, China, South Africa Gulf Cooperation Council (GCC): Saudi Arabia, Kuwait, Bahrain, Qatar, United Arab Emirates. Emirates, Oman Black Sea Economic Cooperation (BSEC): Turkey, Romania, Bulgaria, Albania, Ukraine, Moldova, Russia, Georgia, Armenia Eurasian Economic Union: Belarus, Russia, Armenia, Kazakhstan, Uzbekistan, Tajikistan, Kyrgyzstan North Africa: Morocco, Algeria, Tunisia, Libya, Egypt, Sudan, Western Sahara Sub-Saharan African countries: Burkina Faso, Niger, Senegal, Guinea, Sierra Leone, Ivory Coast, Ghana, Togo,Benin, Nogaro, Cameroon, Congo, Rwanda, Ethiopia, Kenya, Uganda, Tanzania, Mozambique, Madagascar, Mauritius, Zambia, Malawi, South Africa, Namibia, Botswana, Swaziland, Lesotho MERCOSUR Countries: Colombia, Venezuela, Ecuador, Peru, Brazil, Chile, Bolivia, Paraguay, Uruguay, Argentina

Source: ELSTAT. Data processed by KEEM

❱❱❱ I 32 I

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CREATIVE GREECE 2018

EXPORT LEADERS

FEDERATION OF ATTICA & PIRAEUS INDUSTRIES

❱❱❱

n Greece’s 50 most important export markets in 2017* (values in million €, volume in tons) Classification Classification Country order 2017 order 2016 1 1 ITALY 2 2 GERMANY 3 4 TURKEY 4 3 CYPRUS 5 5 BULGARIA 6 8 LEBANON 7 6 USA 8 7 UNITED KINGDOME 9 9 ROMANIA 10 11 FRANCE 11 10 EGYPT 12 12 SPAIN 13 15 SAUDI ARABIA 14 14 FYROM 15 17 GIBRALTAR 16 13 NETHERLANDS 17 21 CHINA 18 18 ALBANIA 19 16 POLAND 20 22 SINGAPORE 21 23 ISRAEL 22 19 BELGIUM 23 20 LIBYA 24 24 UNITED ARAB EMIRATES 25 26 SERBIA 26 25 MALTA 27 31 AUSTRIA 28 27 RUSSIA 29 29 CHECH REPUBLIC 30 28 SLOVENIA 31 35 DENMARK 32 33 SWEDEN 33 40 SOUTH KOREA 34 36 PORTUGAL 35 34 MEXICO 36 38 CANADA 37 41 AUSTRALIA 38 44 TUNISIA 39 39 SWITZERLAND 40 42 HUNGARY 41 30 ALGERIA 42 37 FINLAND 43 56 GEORGIA 44 32 UKRAINE 45 43 MONTENEGRO 46 47 IRELNAD 47 51 LIBERIA 48 45 PANAMA 49 49 MOROCCO 50 55 INDIA * Provisional data Source: ELSTAT, data processed by KEEM

I 34 I

Value 2017

Volume 2017

Value 2016

Volume 2016

3.062,2 2.050,2 1.951,5 1.853,6 1.417,2 1.249,3 1.122,7 1.120,3 871,4 770,7 755,5 700,6 680,3 641,6 633,6 623,7 473,8 461,1 457,6 457,4 442,4 397,9 266,9 255,6 252,9 249,7 238,9 234,0 229,8 198,3 195,9 195,9 192,8 167,7 165,0 152,2 151,0 144,3 142,7 139,7 138,8 135,2 127,8 124,8 122,5 121,1 117,2 106,5 99,6 97,3

3.083.158,2 1.147.897,6 3.608.589,4 1.677.345,0 1.608.750,1 2.772.062,1 3.552.984,6 870.020,7 881.849,4 749.006,2 1.630.373,3 424.315,2 2.196.831,9 1.216.785,2 1.638.194,2 357.792,8 1.224.604,9 642.470,5 316.916,6 1.429.362,1 1.858.195,3 361.199,1 421.463,5 181.965,1 212.617,6 458.321,6 113.150,2 159.506,6 115.154,4 306.376,8 72.534,8 270.714,9 313.335,6 117.567,5 38.244,1 530.750,3 67.967,3 359.752,2 45.902,7 97.731,7 308.081,4 68.268,9 277.950,3 299.602,5 240.675,8 213.858,6 288.297,4 223.037,4 201.358,2 163.507,7

2.831,9 1.959,5 1.351,3 1.633,1 1.312,2 1.048,9 1.095,5 1.076,4 769,1 712,9 750,1 703,9 447,3 566,5 381,4 612,4 328,1 378,3 399,1 279,6 270,4 350,4 331,8 241,8 224,5 226,5 202,0 215,2 205,8 211,1 168,9 185,4 133,5 162,2 170,3 137,0 128,5 102,3 134,1 127,6 202,7 153,5 61,4 200,5 110,8 84,1 76,9 97,5 82,4 62,4

3.202.840,1 1.188.421,9 2.864.875,2 1.382.924,6 1.519.752,1 2.694.105,4 3.582.353,3 1.028.783,4 744.754,8 908.155,0 2.188.895,4 675.637,6 1.754.002,3 1.349.774,9 1.308.869,5 461.049,4 925.442,7 540.978,4 313.134,6 1.010.058,5 1.002.600,9 311.134,0 636.252,6 274.715,9 217.282,8 430.601,0 100.482,3 169.492,1 125.073,8 413.073,0 80.535,5 272.185,1 219.701,5 95.677,2 42.769,8 527.391,9 46.862,1 309.436,9 47.198,5 108.008,2 965.568,0 71.555,2 127.797,4 426.569,9 258.420,7 127.218,3 302.059,7 196.177,2 157.589,2 95.206,0

Value change 2017-2016 230,3 90,7 600,2 220,5 105,0 200,4 27,2 43,8 102,3 57,8 5,4 -3,3 233,0 75,1 252,1 11,3 145,7 82,8 58,5 177,9 172,0 47,5 -64,8 13,9 28,4 23,2 36,9 18,8 24,0 -12,8 27,0 10,5 59,3 5,5 -5,3 15,2 22,5 42,0 8,7 12,0 -63,9 -18,3 66,3 -75,7 11,7 37,0 40,3 9,1 17,2 34,9

% of Change 8,1% 4,6% 44,4% 13,5% 8,0% 19,1% 2,5% 4,1% 13,3% 8,1% 0,7% -0,5% 52,1% 13,3% 66,1% 1,9% 44,4% 21,9% 14,6% 63,6% 63,6% 13,6% -19,5% 5,7% 12,6% 10,2% 18,3% 8,8% 11,7% -6,1% 16,0% 5,7% 44,4% 3,4% -3,1% 11,1% 17,5% 41,1% 6,5% 9,4% -31,5% -11,9% 108,0% -37,8% 10,6% 44,0% 52,4% 9,3% 20,9% 55,8%

n Greece’s 30 most important world exported products during the nine months of 2017* (values in ₏, volume in tons) Classification order, nine months 2017

Classification order, nine months 2016

Code

Product description

Value 2017

Volume 2017

Value 2016

Volume 2016

Value change 2017-2016

% of Change

1

1

33460'

Petroleum oils extracted from bituminous minerals (other than crude) containing 70% or more of petroleum

8.484,3

20.239.172,8

6.573,2

18.954.109,1

1.911,2

29,1%

2 3 4 5

2 3 5 6

54293' 68423' 03418' 99999'

861,9 599,2 502,1 445,1

24.912,7 202.172,4 102.938,4 130.960,6

710,0 550,9 492,2 454,5

22.465,4 199.796,5 94.479,4 142.150,8

152,0 48,3 10,0 -9,5

21,4% 8,8% 2,0% -2,1%

6

7

05679'

438,0

181.103,5

405,5

173.922,9

32,5

8,0%

7 8 9 10 11

10 8 4 11 13

68271' 02499' 42141' 26310' 68421'

425,6 421,0 413,2 348,7 302,0

69.001,6 76.188,0 96.677,3 232.047,9 105.894,0

336,5 395,6 500,4 311,0 256,7

63.694,1 68.344,1 137.007,8 217.742,1 98.868,4

89,1 25,4 -87,2 37,7 45,2

26,5% 6,4% -17,4% 12,1% 17,6%

12

9

75220'

300,1

2.332,1

385,8

3.175,4

-85,7

-22,2%

13

14

68424'

279,1

86.955,0

245,8

80.675,2

33,4

13,6%

14

12

12220'

267,5

24.347,2

303,4

28.167,8

-35,8

-11,8%

15

22

27312'

262,5

921.097,8

147,3

591.189,3

115,2

78,2%

16 17 18 19

16 15 20 21

68412' 05895' 09899' 57511'

257,0 220,7 187,4 173,0

128.949,1 234.808,0 46.517,4 162.844,3

202,3 241,5 167,1 159,5

120.605,5 252.077,1 39.099,8 169.152,9

54,8 -20,8 20,3 13,4

27,1% -8,6% 12,2% 8,4%

20

28

67621'

171,4

391.859,0

127,6

355.066,1

43,8

34,3%

21 22 23

29 17 18

77812' 12110' 66122'

Medicines, put up in measured doses or packaged for retail sale Plates, sheets and strips of aluminum, of a thickness exceeding 0.2 mm Other fish, fresh or chilled (excluding livers and roes, eggs and semen) Confidential products Other vegetables, prepared or preserved otherwise than by vinegar or acetic acid, not frozen Pipes of all kinds Others Virgin olive oil Cotton (other than cotton-seed), not carded or combed Aluminum rods and articles of aluminum Automatic data processing machines, numerical, having in the same housing at least one central processing unit and, whether or not combined, an input unit and an output unit Thin aluminum foils and strips (whether or not printed or glued on paper, cardboard or similar bases), of a thickness not exceeding 0.2 mm (excluding the base) Cigarettes containing tobacco Marble, travertine, Belgian limestone and other limestone for choping or building, of an apparent density equal to or more than 2.5, and alabaster, whether or not roughly trimmed or simply cut, by sawing or otherwise, into blocks Aluminum alloys Apricots, cherries and peaches Other food preparations not elsewhere specified or included Polypropylene Bars (other than those of subdivision 676.1), of iron or steel, not further worked than hot-rolled, hot-drawn or extruded, and rolled, by rolling of iron or non-alloy steel Electric batteries Tobacco without removal of stalks Portland Cements

170,0 165,7 162,8

59.991,1 30.894,6 3.941.796,4

122,1 183,4 175,5

47.804,7 38.575,5 4.002.951,1

47,9 -17,7 -12,8

39,2% -9,7% -7,3%

24

23

89420'

Wheeled toys designed for children (bicycles, tricycles, scooters, foot-cars), doll carriages, dolls, scale models, puzzles of all kinds

158,6

38.927,9

136,0

32.098,6

22,6

16,6%

25

44

33541'

151,4

635.257,8

82,2

493.983,8

69,2

84,2%

26

25

02231'

Asphalt from petroleum and other residues of petroleum oils or bituminous minerals, bituminous mixtures Yoghurt enriched or not, containing sugar, flavour, nuts or fruits

137,6

65.936,3

134,4

62.746,2

3,1

2,3%

27 28 29 30

37 33 47 39

84831' 05751' 34250' 05798'

Articles of fur Grapes, fresh Butane, liquefied Other fruits, fresh

135,8 133,6 129,4 128,9

260,8 93.654,6 308.524,0 150.941,3

105,2 115,2 77,4 99,1

229,0 80.333,2 249.275,6 155.221,7

30,5 18,4 52,1 29,7

29,0% 15,9% 67,3% 30,0%

* Provisional data Source: ELSTAT, data processed by KEEM

I 35 I

CREATIVE GREECE 2018

EXPORT LEADERS

Athanassios Savvakis President of the Federation of Industries of Northern Greece

Profile of FEDERATION OF INDUSTRIES OF NORTHERN GREECE (FING) The Federation of Industries of Northern Greece was founded in 1915, as an independent non-profit association for industrial companies and local or sectoral enterprise organizations.

Numbering more than 420 membercompanies from the regions of Macedonia, Thrace and Epirus, coming from all sectors of manufacturing, FING’s primary mission is to defend the moral, economic and professional interests of its members. FING plays an important role in shaping decisions and policies for regional development, investment promotion, employment and sustainable development. Through its management and departments, FING offers to its members quality services for documentation, information and advices on solving their daily problems and promoting the principles of entrepreneurship, innovation, globalization and corporate responsibility.

1, Morihovou Sqr., Thessaloniki GR54625, GREECE T: +30 2310 539817, F: +30 2310 541933 E: info@sbbe.gr W: www.sbbe.gr, www.sbbe100.gr

I 36 I

Leveraging export activity through a new industrial policy No matter how small or big a country or a company is, the global market is open to everyone. Those who do not take the opportunity to go international, sooner or later will lag behind. Unfortunately, in our country, throughout the years we have been tripping ourselves up in this aspect.

Despite being situated in a favorable geographical position with easy access to numerous markets and producing goods that can compete successfully worldwide, we have failed to establish a strong outward-looking orientation for growth.

The achievement of Northern Greek enterprises to expand their activities and increase their market share at the global level, combined with improved productivity, is a positive backlash to the continuing downturn of the domestic economy. And, more importantly, they have managed to achieve this despite receiving only the minimum of support.

Despite the lack of support, the results in terms of exports are substantial (approx. â‚Ź5 billion, which amounts to 20% of the total Greek exports for 2015).

Of course, when we are talking about exports, we are talking primarily about manufacturing goods, which represent approximately 85% of the total exports.

The manufacturing sector has proved to be the best shield against the crisis; economies with an extended production base and strong export orientation have suffered the effects of the crisis to a lesser extent. Thus, it becomes clear that a national strategy for exports must be linked to the establishment of a new national industrial policy.

Furthermore, the extroversion of the domestic production base and the increase in exporting activity facilitate another crucial role: by positioning themselves

on the global market, Greek enterprises acquire know-how and adopt new technologies, which are further infused in the domestic production system. In this way, exports become the main channels through which Greece leverages its technological capacity for growth. And this is of utmost importance in the age of the digital economy and the fourth industrial revolution. But also, it is the age of limited financial liquidity for the Greek business sector. In this respect, it becomes clear that the establishment of a mechanism for export funding is now needed more than ever. And this should be an integral part of a policy for leveraging investments and achieving a high multiplying effect.

One can easily understand that all the above are not easy to be implemented in the short-term, especially in the framework of the severe fiscal consolidation we are experiencing. Taking into account that we need to take direct actions in order to kick-start the economic activity, providing substantial support for and creating complementarities with inward investments must be among our strategic priorities in the short-term.

The continuous adaptation of Greek enterprises to new business models and the constant upgrading of Greek products in terms of added value and quality have proved that the Greek business world is successfully integrated in the global supply chain and has a high level of business sophistication. Our challenge is not to sustain these results, but to create the conditions for leveraging the overall competitiveness of Greece. The establishment of a new industrial policy, which is still missing in our country, will set the foundations for achieving more exports, and thus more growth.

I 37 I

CREATIVE GREECE 2018

EXPORT LEADERS

Evangelos Kaloussis Chairman of the Federation of Hellenic Food Industries (SEVT)

Quality, consumer satisfaction and extraversion at the heart of the food industry The last eight years have been significantly difficult for Greece’s economy, affecting both citizens and the entire business world. Despite the headwinds, the Greek Food & Drink Industry continues to strive for the recovery of the economy and remains a leading manufacturing sector, currently representing 25% of the Greek manufacturing industry, with a turnover of more than 14.2 billion euros. It is also one of the most important exporting sectors, presenting continuously increasing export activities, even during hard times, that reach 4.5 billion euros.

In the Federation of Hellenic Food Industries, we believe that a sustainable growth is required for economic recovery.

For this purpose, we build our efforts focusing on the following cornerstones: the improvement of Competitiveness & Extroversion, the promotion of Research & Innovation and the attraction of new Investments.

Given the current economic environment, it is crucial to improve our competitiveness.

Our Industry makes a major effort towards this direction, investing constantly in

Given the current economic environment, it is crucial to improve our competitiveness I 38 I

innovation, producing competitive products and leading famous Greek traditional products to new markets abroad, based on the high quality Greek raw materials, aiming at strengthening the image of Greece all over the world.

Furthermore, recognizing the importance of extroversion, our Federation has undertaken important initiatives, such as the development of an Electronic Platform for Greek Exporters (available in 5 languages), which aims to present the superiority and the competitive advantages of Greek food products across the world, and to facilitate the communication between potential buyers and Greek food producers/exporters (Electronic Platform for Greek Exporters).

In this very challenging context, quality and consumer satisfaction are also at the heart of our interest. Therefore, our sector is committed to innovate and follow the worldwide trends, adapting and continuously improving in order to satisfy the evolving consumer needs, providing top quality, safe and healthy food products for everybody, securing, at the same time, the environmental sustainability.

Federation of Hellenic Food Industries Role & Mission

SEVT represents the Greek Food & Drink Industry on national, European and international level. It consists of food and drink companies and sector associations.

SEVT’s mission is to facilitate the development of a friendly business environment that attracts investments. A framework where all food and drink companies, whatever their size, can operate responsibly in order to respond to the increasing needs of both consumers and society, while competing effectively towards a sustainable and inclusive growth.

The work of the Federation is based on sound scientific research, robust data management and effective

communication, within the EU regulatory context, to ensure that all food and drink policy issues are dealt with in comprehensive manner. The main priorities safeguarded

by SEVT include food safety and quality, nutrition and health, consumers’ trust, competitiveness, research and development, innovation and environmental sustainability.

SEVT operates in close collaboration with its members, as an active, committed and responsible partner. It aims to increase the recognition of its key role for the food industry, through the promotion of its cultural and social values, as well as its wealth, diversity and traditions. By combining the Greek food sector heritage

with innovation for the future, SEVT and its members aim to strengthen the industry’s competitive advantage in satisfying consumers’ needs by producing safe, affordable, healthy and sustainable products. SEVT also wishes to enhance consumers’ trust in the Greek Food & Drink Industry for its significant contribution to the daily lives of consumers in Greece and abroad.

The Food & Drink Industry is among the leading manufacturing sectors in Greece, in terms of turnover, added value and productivity, as well as a key job provider. It remains a stable, competitive, resilient and robust sector, yet open to new challenges and opportunities.

Extroversion & SEVT related actions The Greek Food & Drink Industry is the first exporting power of the Greek economy (after petroleum products), with a strong presence in Europe, America and all over the world. It is worth mentioning that throughout Greece’s eight-year financial crisis, food and drink sector exports increased each year by a doubledigit rate.

The year 2017 was for the Federation of Hellenic Food Industries (SEVT) another highly export-oriented year, boosted by the development of a tool that effectively helps explore the opportunities for cooperation around the world, as the reputation of Greek products is constantly growing, and demand from importing companies and retailers grows globally. The new, friendly and easyto-use Electronic Platform for Greek Exporters (Electronic Platform for Greek Exporters) is developed by SEVT and is available in five languages (Greek, English, French, Spanish and German). It includes all Greek Exported Dietary Products, aimed at promoting business relations between Greek businesses and global markets.

This Electronic Platform for Greek Exporters is already being promoted globally and the Federation places emphasis on requesting from the Offices of Economic and Commercial Affairs (Ministry of Foreign Affairs) throughout the world to utilize, promote and present it to importers in their countries of activity and

to other business networks and partners with the intention to increase exports.

In addition to the newly created online platform, SEVT plays a global role through contributing to the country’s exports on a daily basis. More specifically, the Federation provides its Members with information on the latest developments in the export area and support on a variety of actions so as to strengthen their exports and to find solutions to various obstacles. For example, it offers informative material and advisory support on the regulatory framework in other countries; acts as a liaison to improve its members’ relations with the Offices of Economic and Commercial Affairs; and, supports Greek products to become even more recognizable and competitive in the international market.

Since extroversion is a significant contributor to growth, SEVT recommends that the Offices of Economic and Commercial Affairs, at the end of their training, should come in contact with key stakeholders of the import sector and discuss with them on the local environ-

WE EXPORT THE MEDITERRANEAN DIET THE TOP EXPORTERS OF THE FAMOUS GREEK FOOD PRODUCTS

ment and the future business perspectives.

Within this context, SEVT has the capabilities to conduct a survey not only among its Members, but also across the entire industry, in order to report the views on the expectations of the Greek Food and Drink Industry from the entry country in order to facilitate its exports.

Furthermore, our Members have established throughout the years an excellent collaboration with their partners abroad and participate to international fairs of high interest that attract the majority of the exporting sector (Anuga, SIAL). In Greece, our Federation participates, since 2016, to the Food Expo, a major food exhibition, taking place in our country, which effectively promotes the exports of Greek food products to potential markets all over the world.

As a recognition for our continuous efforts, in December 2017, the Federation of Hellenic Food Industries received an honoring award, at Ethos Greek Exports Awards 2017, for its contribution and support to the development of Greek Exports.

In the Federation, we are proud that our daily work is acknowledged, we are committed to continue providing our assistance and we wish to further enhance our solid business relationships, as we believe that the promotion of extroversion is one of the main pillars towards a return to growth.

I 39 I

CREATIVE GREECE 2018

EXPORT LEADERS

Ioulia Tseti Chairman of the Board & Ceo, Tsetis Group of Pharmaceutical Companies

Proud to be Pioneers of the 4th Industrial Revolution For more than half a century, OFET (Tsetis Group of Pharmaceutical Companies) is a pioneer in the pharmaceutical industry , aiming to improve quality of life, by producing innovative and affordable pharmaceutical products of ultimate quality. We are all committed to serve medical science with Passion, Ethos and Creativity, and we put human life and wellbeing as our top priority.

We are bound to our corporate values (TÉLEIA): ● Teamwork ● Ethos ● Learning ● Excellence ● Innovation ● Accountability

Victory is within our DNA, lets raise the flag of Revolution I 40 I

For this reason, we dynamically invest in modern production facilities and state of the art technologies, in highly qualified people and organizational systems that ensure accountability and participation.

We are proud to be pioneers of the 4th Industrial Revolution with state-of-the art production facilities, equipped with the most advanced robotic technology systems for production, packaging and quality control.

We recognize our Responsibility towards society, and we contribute enormously.

We create job opportunities and we are environmentally and socially responsible throughout ongoing actions of solidarity based on a robust Social Responsibility Strategy.

We recognize that the future of medicine and cure is in our hands and we employ highly qualified scientists, devoted in Research and Development, to introduce new medicines, while we actively participate in research programs and studies in cooperation with Universities at

a national and international level.

We are fully committed to implement Quality Management Systems and Models of national and international accredited organizations, to ensure utmost quality and excellence.

We are proud for our highly qualified people, who are a key factor for our growth and success We honor the firm trust and loyalty of the medical community, and we support every movement that promotes and ensures health beyond boundaries and exemptions.

We are bold to establish Greek pharmaceutical products in international markets.

We are by all means within a constant orbit of Growth.

All the above are just a snapshot of what we do in Uni-Pharma and InterMed. We could say that we have discovered the medicine for crisis.

But according to Aesop - United we Stand; divided we fall.

We invite others to follow us, since the way out of Greek crisis lies beyond a cooperative and strategic framework.

Being Greeks, we are all aware of what successful REVOLUTION means and that it requires a combination of the following: ● Strategy ● Alliances ● Agility and Flexibility ● And an army of capable, trained and commitment people.

We need a robust governmental mechanism that will deliberate funds, that will accelerate development of industries, as well as incentives for intensified export activities.

Enough with the words it’s time for Action!

Victory is within our DNA, lets raise the flag of Revolution.

I 41 I

CREATIVE GREECE 2018

EXPORT LEADERS

Athanasios Syrianos President and Chief Executive Officer of Hellenic Brewery of Atalanti

It is worth noting that between 2009 and 2017 more than 35 new microbreweries have been established, indicating the new era rising for Greece’s brewing sector.

I 42 I

Greek Brewing Sector To this day, the Greek brewing sector constitutes an important pillar of the Greek economy, with almost 40 strongly operating businesses of different sizes.

Despite the tight financial and political situation that has been stressing the country for the past nine years, the brewing sector seems to have responded to the challenge successfully, with its exporting activities increasing at a fast pace.

In terms of production and consumption, the years that followed 2009 have recorded drops of 10%.

During the same period, wine consumption decreased by 20%, while the consumption of liqueurs and spirits plunged by 50%. The negative results are strongly connected to the socioeconomic changes of Greece, as a consequence of the financial instability.

Despite the great financial recession, it seems that an opportunity has been created in the sector, since it has given birth to many microbreweries all over Greece and new entrepreneurs - brewers started experimenting on new ideas and

“out of the box” projects. Micro-breweries have been focusing in offering new and innovative beer recipes, while they have succeeded in claiming a commendable domestic market share. Notably, between 2009 and 2017, more than 35 new micro-breweries have been established, indicating the new era rising for the Greek brewing sector.

Regarding beer imports, most of which are from countries of the EU countries, since 2011 the number keeps on decreasing, probably because of the ongoing birth of the Greek Brewing Sector and the great production of Greek beers. On the other hand, the country presented a positive record, from a low base.

Comparing the Greek brewing sector with the average EU facts and figures, the former monopolistic market structure tends to give place to a more competitive one, practically proving that the small but passionate Greek breweries are clearly on the right track, still having so much to offer in the development of the Greek brewing sector.

I 43 I

CREATIVE GREECE 2018

EXPORT LEADERS

Grigoris Moutafis President & General Manager of Export Credit Insurance Organization (ECIO)

...we are committed to safeguarding Greek exports and supporting Greek export companies.

I 44 I

ECIO – Export Credit Insurance, a financing tool The Export Credit Insurance Organization (ECIO) is a Public Entity under Private Law, established in 1988. It is governed by a 7-member Board of Directors, appointed by the supervising Ministry of Economy & Development.

Backed by strong first class Reinsurance Treaties, with Reserved Capitals reaching 170 million euros and with State Guarantee Capital amounting to 1.47 billion euros as it only regards political risks, ECIO has the strength to ensure the credits given by the Greek exporters to foreign buyers, as well as, to offer a substantial contribution to their financing.

ECIO is a member of the Berne Union’s “Prague Club”, the Global Association for Export Credit and Investment Insurers, which supports members in developing their export credit and investment insurance schemes and facilities.

ECIO’s mission is to effectively contribute to a further development of the so- called “extroversion” of the Greek economy.

Therefore, we are committed to safeguarding Greek exports and supporting Greek export companies.

ECIO addresses all Greek export companies, especially small-and-medium- sized ones, even those that are newly established in every sector of exports, regardless of their size, from the very first shipment.

ECIO provides coverage to the export credits granted by Greek exporters to foreign buyers of Greek products, services or even projects against commercial and political risks of non-payment. ECIO also insures the investments undertaken abroad by Greek entrepreneurs against political risks.

More specifically, ECIO offers a wide range of Insurance Programs outlined below: 1. Short-Term Export Credits for exports of consumer goods: ● Single shipments ● “Whole turnover” (Global) Shipments 2. Medium-Long Term Export Credits for exports of capital goods or construction works abroad due to be paid in 2 - 5 years or more: ● Insurance Programs for “Supplier Credits” ● Insurance Programs for “Buyer Credits” 3. Direct Investments Abroad.

Aiming always at growth in exports, ECIO is about to launch the “Pre-shipment Insurance” program in the market, which

will ensure a direct financing in cooperation with Greek banks.

Wishing not only to maintain but also to expand its key role in the sector of exports, insurance in ECIO consists a tool for financing “directly” the Greek export companies via the “ECIO - Extroversion” program. ECIO has entered into special contracts with Greek banks while maintaining committed funds for the support of the above program, thus enabling exporters to obtain financing at a particularly favorable interest rate.

Furthermore, ECIO also supports indirectly the financing of export companies by allowing its insured clients-exporters to use their insurance policy as “collateral”.

ECIO’S advantages ● Direct financing of the exporter via the “ECIO - Extroversion” program ● Percentage of cover up to 95% of the insured value ● Coverage of any type of export company, even newly established ● Competitive premium rate ● Coverage even of a single export, regardless of the insured amount overage even in “high risk” countries ●C (N. Africa, M. East, N. America, Balkan countries, etc.). ● Coverage of political risks rotection of export company’s balance ●P sheet through the reduction of bad debts ●R isk management tool for exporters by controlling and monitoring the solvency of foreign buyers ● S ignificantly improving the competitiveness of the Insured through their safe expansion into new markets.

In light of the above, we strongly support through our services the efforts of exporters towards extroversion. With respect to Greek export companies’ needs and peculiarities, ECIO is a useful “tool” for their competitiveness and safe development.

Looking forward to providing you with further information over ECIO’s services, please don’t hesitate to contact us: Athens Head office: tel. +30 211 9966200, email: oaep@oaep.gr Thessaloniki Branch: tel. +30 2310 548718, email: eciothes@oaep.gr or visit ECIO’s website at www.ecio.gr

I 45 I

CREATIVE GREECE 2018

EXPORT LEADERS

George Filiopoulos Senior Advisor, Industry, Growth and Infrastructure SEV

The Greek exporters’ community has responded positively to SEV’s ExportReady I 46 I

Setting up a successful export promotion program:

The case of SEV’s ExportReady Introduction SEV’s ExportReady, the only comprehensive export promotion program in Greece, has completed its first year of servicing Greek exporters. This article illustrates the reasoning that led to its creation, the structure of its services, annual results and the plan for 2018.

The rationale Being characterized as a country with a quasi-closed economy, Greece has been traditionally lagging behind other European and OECD countries in terms of export performance.

This is not a new phenomenon. In fact, it precedes the financial crisis and has its roots in the inward orientation of the Greek economy and the fragmentation of production, which subsequently lead to low competitiveness in the global markets.

However, improvement in exports performance is imperative for the sustainable growth the Greek economy desperately needs in order to recover from the crisis.

Many Greek companies, forced by the shrinking domestic market, have turned their attention to foreign markets. However, the lack of an export-oriented culture and the absence of sound export strategies, have led to mediocre results. Greek exports have grown by about 1/3 the growth rates of Portugal and Spain since the beginning of the crisis.

Moreover, Greece has not yet developed a solid export promotion program that would adequately assist new, as well as established exporters.

SEV identified the market need and decided to step in by establishing the first comprehensive set of export promotion services in Greece.

Mapping out a Plan Numerous examples of best practices from all around the world were studied: traditional powerhouses like the Netherlands, the US and Germany, as well as “new entrants” such as Ireland and New Zealand.

The main issues that emerged were: wareness for specialized export issues ●A ●C ustomized market Intelligence for target markets ● E ffective business networking with potential buyers in foreign markets Implementation ExportReady comprised three pillars: a) E xportReady Master: knowledge transfer -via workshops- on specialized export issues. The instructors are experts from seasoned exporting companies.

The selection of topics is based on recent market trends, as well as the needs of Greek exporters as listed on the latest Business Pulse Survey by SEV. b) Based on this method, we selected topics such as the effective financing of exports, export credit insurance, international branding, international digital marketing, e-commerce, effective corporate presentations, and successful international negotiation strategies. xportReady Discover: customized b) E data, analysis and projections for foreign target markets. SEV collaborates with the Fitch Group of Companies for the provision of market information and data on 8 sectors in 75 countries. xportReady Connect: effective c) E international networking for Greek exporters. It includes “Doing Business” workshops, business delegations and effective B2B meetings via SEV’s counterparts in the target markets.

Results The results are rewarding. Specifically, in the first 12 months of operations, ExportReady offered: specialized workshops on export issues. ●6 265 executives from 126 enterprises attended at least one of the workshops.

The average evaluation score assigned by the participants was 4.54/5.

4 country reports and 28 sectoral ●2 reports for target markets. 19 companies requested -and received- customized reports for their particular exporting needs.

● Business delegations to 7 target markets.

57 companies participated and 537 B2B meetings were arranged by SEV. A fruitful cooperation has been developed with the Ministry of Foreign Affairs, as well as other business associations. Hence, SEV, via the ExportReady promotes cooperation between the public and private sectors, it enhances the prestige and increases the effectiveness of its business delegations, while at the same time it plays a pivotal role in improving Greece’s image abroad. ● 186 executives from 89 exporters attended 5 “Doing Business” workshops for potential target markets. The average evaluation score was 4.61/5. ● Finally, since September 2017, SEV has established a Help Desk for the Exporters.

The Help Desk assists with problems that may arise in foreign markets.

Next steps Encouraged by the positive results, SEV plans more activities for Greek exporters For the first semester of 2018, SEV:

● Completed a business delegation to Kazakhstan and plans 4 more delegations to Slovakia, United Arab Emirates, Russia and Morocco. ● Organized a workshop for export financing and credit insurance while there are plans for two additional workshops on export strategy and international negotiations ● Streamlines and expands the services offered to Greek exporters via ExportReady’s Help Desk Conclusion: The Greek exporters’ community has responded positively to SEV’s ExportReady.

The growing participation in the program’s activities and the demand for additional services show that ExportReady has been able to offer effective solutions to Greek enterprises with an outward orientation SEV will continue to identify the problems and meet the needs of Greek exporters by listening carefully to their suggestions and by adapting best practices from abroad to the reality of economic life in Greece.

SEV - Hellenic Federation of Enterprises Profile Leading Business in Greece SEV - Hellenic Federation of Enterprises has consistently fostered business development in Greece since 1907. It is the independent voice of businesses, representing a broad spectrum of the country’s economic activity, including manu- facturing and services.

SEV par- ticipates in the national and European social dia- logue and represents the interests of organised business. SEV works with government, social partners and policy makers to shape conditions that foster entrepreneurship, advance business and drive economic growth.

A transformation leader As the largest business network in Greece, SEV plays a leading role in the country’s transforma- tion into a productive, outwardlooking and com- petitive economy. Our broad membership, includ- ing 400 of the largest corporations in Greece, gives us the advantage of broad and informed perspective coupled with the power to be proac- tive and responsive.

A powerful representative of the Greek business community SEV is dedicated to promoting entrepreneurship by lobbying for sound policies consistent with a business-friendly environment. SEV engages in the public debate by making recommendations, crafting policies and providing analyses of eco- nomic and business issues.

A key partner in the social dialogue As a social partner dedicated to good governance and competitiveness as springboards for economic growth and social progress,

An effective networking actor SEV enables its members to meet with and hear from peers, political leaders and other decision makers, banks, institutions, potential business partners and investors, both

locally and interna- tionally. Our networking events and services fa- cilitate the sharing of ideas, experiences and new business opportunities, and provide our members with the connections they need to compete and prosper.

A knowledge creator SEV provides its members with premium access to market data and trends – including detailed analyses and economic and legal briefings – and regularly organises sector-specific conferences. Members also get timely access to information on developments affecting the operation and prospects of their businesses on the national and international level.

Contact Details: Xenofontos 5, 10557, Athens, Attica, Greece Tel.: +30 2115006000 Fax: +30 210 3222929 Email: info@sev.org.gr Website: http://www.sev.org.gr/

I 47 I

CREATIVE GREECE 2018

EXPORT LEADERS

Anna Kalliani President of British – Hellenic Chamber of Commerce

Extrovert growth model and the potential of the Greek economy

UK and Greek business relations are strong Greece should shift to a new outward looking and sustainable growth model.

It is vital for Greece to continue the implementation of the required structural reforms that will lead to further improvement of its competitiveness and the attraction of investments.

Structural reforms that should be implemented that would lead to a sustainable extrovert growth model which will contribute to the country’s economic upturn, social cohesion, restoration of confidence.

The objective should be the promotion of a healthy, stable and fair tax environment, the minimization of bureaucracy, the provision of incentives to the entrepreneurs but also to employees, the promotion of innovation and the exploitation of the country’s “wealth of knowledge and talent”.

In addition, financial tools and incentives should be given to companies -and especially to SMEs- to become more

competitive internationally.

Within this context, the British Hellenic Chamber of Commerce’s objective is to contribute in this effort and strengthen the already strong business relations between UK and Greece in a variety of sectors, with emphasis in exports, shipping, technology – innovation, education.

Britain is the 7th most significant exports destination for Greece. The following section shows the dynamics and the statistics related to bilateral goods trade between Britain and Greece. I am convinced that the prospects for exports growth from Greece to the UK are significant.

The concerns related to Brexit are understandable. However, I hope that the negotiations between the EU and Britain will lead to a mutually acceptable agreement that will not hurt Greece’s business relations with the UK, but will also provide opportunities to Greek companies to exploit additional opportunities in the UK market.

BILATERAL GOODS TRADE BETWEEN GREECE AND UK Overall goods trade volume in the bilateral relations between Greece and the UK amounted to 1.86 billion pounds in 2017, compared to 1,70 billion pounds in 2016, showing an increase of about 9.3%. Greece’s bilateral trade with UK showed a deficit of 104.4 million pounds, compared to 113,7 million pounds in 2016.

Amounts in British pounds £

2015

2016

% change 2016/2015

2017*

% change 2017/2016

I. Greek Exports to UK II. Imports from UK to Greece Trade Volume I + II

£714.245.423 £795.012.697 £878.980.205 £909.325.295 £1.593.225.628 £1.703.701.078

11,3% £879.007.251 3,5% £983.410.097 6,9% £1.862.417.348

10,6% 8,1% 9,3%

Trade Balance Greece with UK I - II

-£164.734.782

-30,6%

-8,7%

-£114.312.598

-£104.402.846

* estimation, temporary statistics Source: British Statistics Authority, www.uktradeinfo.com, Greek Embassy in London

Britain is the 7th most significant exports destination for Greece I 48 I

UK is the 8th most significant exporter of goods for Greece in 2017, while UK holds the 11th position in Greek imports.

The value of Greek trade exports in the UK (including petroleum products) amounted to 879 million pounds, compared to 795 million pounds in 2016, showing an increase of 10.6%. Excluding petroleum products, the value of Greek trade exports in the UK amounted to 847.8 million pounds, increasing by 9% compared to 2016.

The value of Greek imports from the UK (including petroleum products) reached 983.4 million pounds, compared to 909.3 million in 2016, showing an increase of 8.1 %. However, without including petroleum products, the value of imports amounted to 943 million pounds, showing an increase of 10.3%.

The 10 most significant categories of products exported from Greece to the UK are: pharmaceuticals, dairy products, electrical machinery and equipment, preparations of vegetables – fruits – nuts, copper and articles thereof, edible fruits and nuts, aluminium and articles thereof, apparel, mineral fuels – mineral oils and products of their distillation, plastics.

n GOODS EXPORTS OF GREECE TO UK Values in British Pounds £

Total Pharmaceutical Products

2017 879.007.251 131.412.589

% of total 2017

% change 2017/2016 795.012.697 10,6% 15,0% 115.841.516 13,4% 2016

714.245.423 107.964.128

% change 2016/2015 11,3% 7,3%

2015

% change 2015/2014 699.885.029 2,1% 94.604.655 14,1% 2014

Dairy produce; birds' eggs; natural honey; edible products of animal origin Electrical machinery & equipment & parts; sound recorders & reproducers, television image & sound recorders & reproducers Preparations of vegetables, fruit, nuts or other parts of plants

97.689.181

11,1%

87.784.495

11,3%

69.837.234

25,7%

59.756.238

16,9%

84.026.899

9,6%

79.214.964

6,1%

83.232.606

-4,8%

74.343.618

12,0%

66.120.358

7,5%

63.267.936

4,5%

51.165.794

23,7%

59.290.717

-13,7%

Copper and articles thereof Edible fruit and nuts Aluminium and articles thereof

58.094.411 53.589.484 39.401.385

6,6% 6,1% 4,5%

40.319.753 43.246.020 35.011.316

44,1% 23,9% 12,5%

37.666.444 41.708.151 39.082.390

7,0% 3,7% -10,4%

48.085.971 54.091.308 49.482.378

-21,7% -22,9% -21,0%

Apparel and clothing accessories, knitted or crocheted

33.147.613

3,8%

34.038.274

-2,6%

25.527.727

33,3%

29.777.630

-14,3%

Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes Plastics and plastic products Preparations of cereals, flour, starch or milk; pastrycooks' products

31.179.904

3,5%

17.297.252

80,3%

4.629.930

273,6%

5.300

87257,2%

27.671.970

3,1%

23.278.371

18,9%

21.305.706

9,3%

31.778.667

-33,0%

26.854.428

3,1%

15.668.105

71,4%

11.401.083

37,4%

7.644.967

49,1%

Miscellaneous edible preparations

25.005.923

2,8%

21.678.706

15,3%

13.424.271

61,5%

13.448.349

-0,2%

Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof

23.051.022

2,6%

20.362.841

13,2%

12.583.671

61,8%

10.947.313

14,9%

Articles of iron or steel Salt; sulphur; earths and stone; plastering material, lime and cement Essential oils and resinoids; perfumery, cosmetic or toilet preparations Miscellaneous chemical products

20.082.443

2,3%

25.804.678

-22,2%

14.531.574

77,6%

11.430.338

27,1%

16.722.521

1,9%

20.155.249

-17,0%

16.257.578

24,0%

18.669.700

-12,9%

15.716.123

1,8%

14.149.132

11,1%

13.056.579

8,4%

16.830.464

-22,4%

12.297.860

1,4%

7.580.544

62,2%

7.921.647

-4,3%

5.594.535

41,6%

Edible vegetables and certain roots and tubers

10.601.174

1,2%

9.393.469

12,9%

9.456.396

-0,7%

10.566.003

-10,5%

Natural or cultured pearls, precious or semi-precious stones, precious metals, imitation jewellery; coin

9.178.849

1,0%

7.813.524

17,5%

8.291.696

-5,8%

11.467.735

-27,7%

Wadding, felt and nonwovens; special yarns; twine, cordage, rope and cable and articles thereof

7.007.521

0,8%

4.465.493

56,9%

5.000.439

-10,7%

4.997.086

0,1%

Clocks and watches and parts thereof Fish and crustaceans, molluscs and other aquatic invertebrates

6.946.660

0,8%

6.210.743

11,8%

2.989.625

107,7%

3.331.111

-10,3%

6.944.658

0,8%

11.289.255

-38,5%

16.456.943

-31,4%

11.826.787

39,1%

6.845.500

0,8%

2.603.473

162,9%

2.596.431

0,3%

1.995.899

30,1%

Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof * estimation, temporary statistics

Source: British Statistics Authority, www.uktradeinfo.com, Greek Embassy in London

❱❱❱

I 49 I

❱❱❱ The 10 most significant categories of products imported from the UK to Greece are: pharmaceutical products, electrical machinery & equipment & parts, cars, nuclear reactors, beverages – spirits & vinegar, mineral fuels – mineral oils & products of their distillation, apparel, optical – photographic – cinematographic – precision medical or surgical instruments and accessories, miscellaneous chemical products.

CREATIVE GREECE 2018

EXPORT LEADERS

n GOODS IMPORTS FROM UK TO GREECE Values in British Pounds £ Total Pharmaceutical products Electrical machinery & equipment & parts; sound recorders & reproducers, television image & sound recorders & reproducers

2017

% change 2017/2016

2016

% change 2016/2015

2015

% change 2015/2014

2014

12,6%

8,2% 12,5%

908.688.381 109.743.129

3,4% 6,7%

878.980.205 102.866.209

107.735.389

11,0%

-0,4%

108.196.529

30,8%

82.707.543

-9,2%

91.067.612

Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof

85.444.010

8,7%

-15,1%

100.682.987

15,7%

87.047.011

-15,5%

102.961.593

Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof

68.460.455

7,0%

6,4%

64.351.144

7,5%

59.837.705

-15,8%

71.072.106

Beverages, spirits and vinegar

60.991.081

6,2%

16,7%

52.265.040

-1,5%

53.071.375

-7,4%

57.332.413

40.431.972

4,1%

-24,4%

53.455.608

45,4%

36.767.652

-39,5%

60.758.820

34.648.009

3,5%

24,2%

27.906.550

0,6%

27.747.697

-12,3%

31.632.121

34.146.136

3,5%

22,3%

27.925.559

-7,5%

30.205.414

-12,9%

34.687.183

32.468.872

3,3%

23,8%

26.221.347

20,0%

21.858.760

-34,7%

33.474.792

29.270.716

3,0%

-3,3%

30.274.035

-5,7%

32.088.077

14,2%

28.101.818

Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes Articles of apparel and clothing accessories, knitted or crocheted Articles of apparel and clothing accessories, not knitted or crocheted Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof Miscellaneous chemical products

983.410.097 123.421.813

% of total 2017

-10,7% 984.754.870 -9,7% 113.966.242

* estimation, temporary statistics Source: British Statistics Authority, www.uktradeinfo.com, Greek Embassy in London

BRITISH HELLENIC CHAMBER OF COMMERCE

I 50 I

Founded in 1945, the British Hellenic Chamber of Commerce (BHCC) is an independent, non-profit organisation, funded solely by income from membership fees and profits arising from events and functions organised by the Chamber.

The main purpose of BHCC is to promote bilateral Greek-British trade and to provide business and investment services for its members. The BHCC represents members’ interests in both Greece and the UK. BHCC is a strategic partner of COBCOE (http://www.cobcoe. eu), an independent, nonprofit (umbrella) organisation representing British chambers of commerce and business associations throughout Europe.

Its core membership includes Chambers and associations in 35

European countries representing close to 12,000 business related members, as well as 50 chambers of commerce and similar organisations based in the UK and affiliates around the world.

BHCC organises a variety of activities. These include conferences, seminars, networking receptions, business luncheons & dinners, panel and round table discussions, participation in selective trade missions to and from the UK. In addition, the Chamber will soon join the COBCOE Connects Platform, an online platform that connects and links chambers of commerce and business groups, enabling businesses to access trusted business contacts [primarily related to the UK Market], matched to individual needs.

Recognizing the importance of Brexit not only in business, but in education and culture, BHCC will be taking a number of initiatives to provide more services and contribute to further strengthening the bilateral relations between Great Britain and Greece.

Towards this direction, BHCC is planning a number of activities related to Brexit, such as targeted roundtable meetings and other events which will address concerns of Greek businesses and give updates on developments.

BHCC objective is to contribute towards the attraction of investments in Greece, especially from the UK; towards this direction, it plans and supports investment and industry- specific events and initiatives.

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ΒΡΕΙΤΕ ΤΟ ΜΟΝΟ ΣΤΟ ΔΙΚΤΥΟ ΣΥΝΕΡΓΑΤΩΝ VITEX! I 51 I

CREATIVE GREECE 2018

EXPORT LEADERS

Michael Maillis Chairman of the German-Hellenic Chamber of Industry and Commerce

Eight+1 conditions for the Greek economy to turn a new page Undoubtedly, the year 2017 left us with a small sense of satisfaction. A number of indicators helped create this positive environment: The GDP was positive at 1.3%, manufacturing grew 4.4%, tourism was up 10% and exports increased by 15.5%.

Everyone agrees that exports and investments are the key drivers needed to pull us out of the crisis. According to Bank of Greece data, exports have been growing since 2010 at a satisfactory rate and their contribution to the GDP increased by 6 percentage points.

Playing an important role in this positive fundamental, Greek exports to Germany have been rising year by year (+5.3% for the first 11 months of 2017, compared to the same period in 2016, according to Hellenic Statistical Authority [ELSTAT] data shown on the related table).

A closer look at the map of Greek product exports leads us to the conclusion that

under certain conditions, the Greek economy could turn the page, and move into a new phase of growth based on healthy entrepreneurship, investment and extroversion.

But what are these conditions?

Firstly, recovery must continue at a more rapid rate.

Secondly, Greece will return to the markets in the most appropriate and effective way.

Thirdly, efforts to restructure and lighten the public debt will bear fruit.

Fourthly, overtaxation will be reined in, as it is one of the greatest burdens on the real economy.

Fifthly, the substantive reforms the country needs will be realized and the result will be a more business-friendly environment.

Such an environment could not exist without the introduction of a stable tax system, a reduction of non-wage labour costs to enterprises and a reduction in the bureaucracy that creates myriad obstacles

Greek imports from Germany

I 52 I

Total GermanGreek Trade

Jan-Nov 2017 in euro

4.779.783.935

1.896.635.739

6.676.419.674

Jan-Nov 2016 in euro

4.477.850.592

1.800.916.135

6.278.766.727

6,7

5,3

6,3

% change

According to Bank of Greece data, exports have been growing since 2010 at a satisfactory rate and their contribution to the GDP increased by 6 percentage points

Greek exports to Germany

The objective of the German-Hellenic Chamber of Industry and Commerce, founded in 1924 due to the importance of the German-Hellenic commercial transactions, is the tightening and growth of the German-Hellenic enterprising and commercial relations.

The Chamber is the official institution for mediation and contracting of commercial relations, the official representative of

German trade exhibitions and provides legal, commercial and economic advice. The chamber has 820 registered members in Greece and Germany, which are served from both offices in Athens and Thessaloniki.

Representing German fairs for over 60 years in Greece, the Chamber represents officially the following exhibitions: Hamburg, Hannover, Berlin, Cologne, Munich, Stuttgart and Essen, while it also collaborates with

to the exportive efforts of both small and large enterprises.

Sixthly, major investments, some of which were hard done by (see Elliniko) in the past year, will move forward.

Seventhly, an effective institutional framework will be shaped to facilitate rather than obstruct investments, while also supporting both existing entrepreneurship and new start-ups.

Eighthly, decisive steps will be taken in 2018 to put an end to the saga of nonperforming loans that cash flow from banks to businesses will be restored and that the exceedingly high cost of borrowing will be reduced.

And last but not least, there will be enough political will to formulate a national reconstruction plan that aims to restore the country’s productive fabric, characterized by sustainability and extroversion.

Two elements of the World

Economic Forum’s 2017-2018 Global Competitiveness Index indicate how long the road we must travel is: Greece is in 87th place among 137 countries on the relevant chart indicating the quality of institutions and in second-to-last place (136th) in providing tax incentives for investments.

We at the German-Hellenic Chamber of Industry and Commerce are engaged in an ongoing struggle to support the extroversion of Greek enterprises, to increase investments in Greece, and to further bolster the already exceedingly good economic relations between Greece and Germany. And we are pleased that year by year, with the contribution and participation of our 820 entrepreneurial members, we achieve our targets and raise the bar even higher.

I believe that everyone agrees that it is a long and difficult road, and that this year will be critical for the future.

other exhibition organizations in Germany.

With its established organizational structure, following standard business and accounting practises of the ‘German Chambers of Commerce Abroad’ network, with 130 offices in 90 countries, the Chamber draws a highly efficient accounting department, modern communication structures and organizationwide project management techniques.

The Chamber also provides the dual

system education training, as well as knowhow-transfer in the fields of renewable energy and information & communication technologies through EU-projects and B2B platforms.

10-12 Dorileou, 11521, Athens, Greece Tel.: +30 210 6419 000 Fax: +30 210 6445 175 Email: ahkathen@ahk.com.gr Website: www.german-chamber.gr

I 53 I

CREATIVE GREECE 2018

EXPORT LEADERS

Dr. Dimitris Bakolas President of Russian - Greek Chamber of Commerce

Tourism flows from Russia is drastically increasing, the deals in real estate with Russians are moving up, while recently Russian companies came back showing interest in the privatization of Greek public companies I 54 I

Greek-Russian Relations: Time to move forward The sanctions adopted by the European Union against the Russian Federation and the reciprocal sanctions of the RF against EU states has had a very negative impact in Greek-Russian economic relations, and although the Greek Government was among those in the European Union, that never favor the sanctions, Greece had to comply with the EU decisions once they have been taken.

Therefore, the positive momentum in the relations of the two countries, created by the initial openly pro-Russian rhetoric of Greece’s leftish government, has been quickly evaporated , when facing the crisis the government had to adopt different behavioral Model in its international diplomacy, maintaining closer relations with the EU partners and the USA, while reducing expectations for Russian financial assistance.

Further to the sanctions, these inconsequences brought additional damages to all areas of bilateral relations

and first of all to the economic relations and trade: Greek vegetable and fruit producers did suffer the most, but practically all business areas, including tourism, have been affected.

However, the situation seems to have started changing recently: tourism flows from Russia is drastically increasing, the deals in real estate with Russians are moving up, while recently Russian companies came back showing interest in the privatization of Greek public companies, such as railway enterprises and ports.

The Greek - Russian Chamber of Commerce, with its over 20 years experience in issues of bilateral business, has the required contacts and networks, as well as the know how, in assisting Greek companies in their efforts to penetrate the huge Russian market, while providing support to Russian investors considering opportunities in Greece.

Bilateral trade between Greece and the Russian Federation in 2017* According to provisional data by the Hellenic Statistical Authority (ELSTAT) for 2017, the value of Greek exports to Russia in that year increased to 234 million euros, up by 8.75% compared to 2016. In the same period, the value of imports from Russia increased by 21.24%, to 3.42 billion euros. The volume of trade between the two countries increased by 20.35% to 3.65 billion euros. The bilateral trade balance remained in deficit for Greece, with the deficit widening to 3.18 billion euros.

n Bilateral Commercial Transactions between Greece and Russia 2014-2017 in euro

2017

2016

Exports Imports Trade Volume Trade balance

234.009.324 3.421.188.492 3.655.197.816 -3.187.179.168

215.179.172 2.821.886.310 3.037.065.482 -2.606.707.138

Source: ELSTAT (provisional data), Processing: Moscow OECA

Change 2017/2016 8,75% 21,24% 20,35% 22,27%

2015

2014

213.081.393 3.398.976.156 3.612.057.549 -3.185.894.763

356.831.838 4.831.801.012 5.188.632.850 -4.474.969.174

Profile of HellenicRussian Chamber of Commerce (HRCC) n The structure of exports is illustrated in the following chart

Fur garments 24%

Copper tubes 6%

Petroleum oils 11%

Telephone devices 5% Unprocessed Stones tobacco 4% 3%

Others 25%

Vegetables packaged 1% Paddings Plastics 2% 1% Furskins 2% Cements 2% Olive oil 2% Sweets 2% Cigars 2% Aluminum sheets 3% Lifting machines 3% Paints, varnishes 3%

n The structure of imports is illustrated in the following chart:

Copper 2% Other 2%

Wheat and meslin 1% Corn 1% Coal 1% Aluminum 11%

Petroleum oils 50%

Petroleum gases and other gaseous hydrocarbons 14%

Unrefined oils 18% Hellenic Republic Embassy of Greece, Moscow Office for Economic and Commercial Affairs (OECA)

The Hellenic-Russian Chamber of Commerce (HRCC), founded in Athens in 1995 by Greek and Russian businessmen, has been functioning as an independent, non–profit organization for more than 20 years, promoting the mutual economic and trade relations between the two countries.

The practical tools to enhance HRCC members’ export activities, as well as their competitiveness include the following HRCC services: ■ Supporting the interests of its members in the government authorities of both countries ■ Organization of business missions, trade fairs, seminars and supporting participation of the Hellenic and Russian companies in them ■ Organization of tailor made business missions in a targeted program of meetings ■ Information about the credibility of companies in Greece and Russia ■ Translations, Interpreting ■ Forwarding promotional materials to the partner organizations in Greece and Russia ■ Making lists of potential partners in both Greece and Russia To conduct its activities successfully, the HRCC has established its Strategic and Business Councils in Russia; it is in continuous cooperation with all the state institutions and public services of both countries; and, it developed a powerful network with the reliable Chambers and Business Associations in Greece and Russia, thus wining international recognition.

25th Martiou 71, 15451, Neo Psychiko, Athens, Greece Tel.: +30 210 69 81 127 Fax: +30 210 69 81 127 Email: info@hrcc.gr Website: http://www.hrcc.gr

I 55 I

CREATIVE GREECE 2018

EXPORT LEADERS

Panagiotis Koutsikos Chairman of Greek-Bulgarian Chamber of Commerce and Industry

According to data from the Statistics Office of Bulgaria, Bulgarian companies of Greek interest employ approximately 95,000 Bulgarian citizens I 56 I

Business cooperation between Bulgaria and Greece Bulgaria, a member of the European Community, has managed to overcome the economic crisis as of the early days of 2011, and is constantly growing ever since.

Bulgaria‘s population has reached 7.3 million people, following a declining line.

Taxation on business profits is at 10 percent, while the minimum wage is 380 euros, and the annual inflation is 0.1%.

Bulgaria’s banking system is stable and business activities are considered to develop under positive circumstances.

Capital investments from Greece are valued at 3.1 billion euros, excluding the percentage spent annually from business profits, because it is not recorded under the Bulgarian statistics service. The GreekBulgarian Chamber of Commerce estimates that the respective amount of capital is up to 3.6 billion euros.

The total trade has reached 3.0 billion euros in 2017, which is a positive figure for Greece’s trade balance. The business sector with the largest share is services-trade, followed by manufacturing and small industry.

According to data from the Statistics Office of Bulgaria, Bulgarian companies of Greek interest employ approximately 95,000 Bulgarian citizens.

The Greek-Bulgarian Chamber of Commerce organizes departmental day conferences annually, together with a General Congress in Athens or Sophia.

Thus, an opportunity is given to people from several businesses to meet potential Bulgarian colleagues, and get to discuss with them in order to develop their businesses and strike new cooperation deals.

The Greek-Bulgarian Chamber mediates, so as to offer its services, in various businesses that may need support.

Moreover, the Greek-Bulgarian Chamber of Commerce maintains excellent relationships with the authorities, ministries, chambers and organizations, in both Greece and Bulgaria, hence is considered a trustworthy supportive agent for the development of bilateral commerce and investments, and in this way offers reliable services to both members and nonmembers.

There are 2,000 active businesses, of Greek interests, operating currently in Bulgaria in all economic sectors.

However, the actual number of businesses recorded reaches up to 15,000, owing to the fact that businesses are being established even for the purpose of buying either real estate or cars.

Greek companies should seriously consider the Bulgarian market as an expansion of their activities and not take advantage of the low labor cost. The business vibe is positive, and that’s why they should focus on the capacity given to absorb business products from the Bulgarian market.

❱❱❱

I 57 I

CREATIVE GREECE 2018

EXPORT LEADERS

❱❱❱

■ STRUCTURE of GREEK EXPORTS 2017 1. Industrial items

475 million euros

2. Foods, live animals

230 million euros

3. Minerals, fuels, lubricants

200 million euros

4. Chemical products-fertilizers

180 million euros

5. Removal machinery and materials

145 million euros

6. Drinks and tobacco

78 million euros

7.Other products

■ STRUCTURE of GREEK IMPORTS 1. Foods, live animals

375 million euros

2. Industrial items

560 million euros

3. Chemical products

115 million euros

4. Drinks and tobacco

38 million euros

5. Other products

THE GREEK-BULGARIAN CHAMBER OF COMMERCE AND ITS SERVICES

I 58 I

The Greek-Bulgarian Chamber of Commerce (EBEBE) is recognized and operates in accordance with Presidential Decree 155/23/10/2008.

The Chamber operates as an independent non-profit organization, under private law.

PURPOSE OF THE CHAMBER The promotion and development of commercial, economic, business and cultural ties between Greece and Bulgaria, with activities related to the these areas.

ETEE has already developed excellent relations with authorities, ministries, organizations, institutes and chambers in both countries so as to act as a reliable promotional mechanism of bilateral trade and investment with the purpose of providing

reliable services to its members and third parties.

CHAMBER SERVICES TO MEMBERS: Weekly e-newsletter Members are updated every week via an e-newsletter on the economic, political and business news from Bulgaria, as well as on various business events and deals.

Organizing events The Chamber organizes and coordinates events of commercial, social and cultural nature, inviting distinguished personalities from both countries to contribute to the overall promotion of the two countries’ relations.

Cooperation with other Chambers ETEE has established cooperation with all bilateral commercial, industrial,

commercial and craft chambers of Greece and Bulgaria, creating opportunities for business deals, including with Central Asian countries.

Mediation ETEE can mediate in business differences, if requested to do so, by offering its services to resolve the dispute amicably.

Conferences The Chamber holds 2 business conferences every year in Greece and Bulgaria, alternately, facilitating business contacts between companies from both countries.

Agias Theodoras 1, 54623, Thessaloniki, Greece Tel.: +30 2310 280490 Fax: +30 2310 253835 Email: hbccing@gmail.com Website: http://hbccing.com

I 59 I

CREATIVE GREECE 2018

EXPORT LEADERS

Constantine Yannidis President of the Hellenic Chinese Chamber, Entrepreneur, President of VITEX

It is a common sense that Chinese investments are milestones for Greece’s economic recovery and Chinese investments can take advantage of the liberalization of Greek State and society I 60 I

Facilitating the coordination of bilateral affairs Beijing is more than 7,500Km away from Athens but this distance is minimized by the legacy of profound trust, respect and appreciation between the two peoples, deriving from the depths of thousands of years of history.

The role of the Hellenic Chinese Chamber (Commerce, Industry, Tourism and Shipping) is to become a bridge of communication between its members in both countries, so as to facilitate bilateral trade in imports and exports, enhance cooperation in the services industry, and of course to further attract Chinese investments in Greece. We strongly believe that without foreign investments, Greece’s economy will not recover soon. Whoever loves Greece and respects the Greeks cannot stand for the opposite. Below, the four pillars of the Chamber’s scope are highlighted: ● To stimulate and support exports of goods and services from Greece to China, imports of goods and services from China to Greece and protection of

Greek and Chinese business activities providing a framework of reliable transactions ● To promote investments of Chinese companies in Greece and vice versa ● To support of the development of tourism business ● To support and expand maritime bilateral cooperation At present, China’s footprint in Greece is at an all-time high. This is explicitly indicated by large-scale investment projects for transport infrastructure, energy and telecommunications laying on the Belt and Road Initiative (BRI). The “Dragon Head” of the Sino-Greek strategic partnership is the Piraeus seaport COSCO investment, confirming Greece and China as the world’s big maritime powers. The second most important Chinese investment in Greece is the investment in Greece’s Independent Power Transmission Operator (ADMIE).

The growing presence of Chinese investors in tourism and real estate is boosted by the “One Belt one Road” Initiative that

THE HELLENIC CHINESE CHAMBER (HCC) is an institutional, non-governmental, non-profit, membership association for Greek corporations and individual entrepreneurs engaged in business affairs with People’s Republic of China, and Chinese corporations engaged in business affairs with Greece.

Short info about the Chamber ● Was set up in 1995 Operates under Presidential Decree ● (576/27-7-95) ● Is widely recognized and respected at the highest level of both Greek and Chinese governments

development of business and economic relations between Greece and China so that in the long-run, China becomes in the worldwide scene one of Greece’s major business and economic partners.

Mission To actively and continuously support the

Objectives ● To stimulate and support trade in goods and services, investment and technology transfer between Greece and China ● To promote the commercial and investment environment of Greece to the Chinese business community and opinion leaders ● To provide practical, professional and value added services to the Greek and Chinese corporations that will essentially support their efforts in developing business in China and Greece respectively

promotes not just economic, but also cultural exchanges. As of September 2017, Air China has commenced direct flights between Beijing and Athens, and in September 2017 COSCO signed an agreement with China Eastern Airlines for charter flights to Greece. The “Golden Visa Program” was originally laid out in 2013 by the Greek government in the aftermath of the country’s massive sovereign debt crisis, with the aim of luring foreign capital to revitalize the failing economy. By the end of January 2017, the Greek government issued a total of 1,573 real estate investment licenses to foreigners, out of which over 40% were issued to Chinese buyers. In a recent research, Athens has been ranked 3rd of the top places to visit for Chinese tourists, scoring 4% following Paris and London that scored 18% and 5%, respectively.

The 2017-2019 Action Plan, signed in May 2017, targets to streamline all efforts and meet long term objectives of Chinese investments, requires high commitment

and engagement by all stakeholders. This is where the Hellenic Chinese Chamber steps in and facilitates the coordination of bilateral affairs in the context of comprehensive Strategic Partnership and to further attract new investment inflows.

It is a common sense that Chinese investments are milestones for Greece’s economic recovery and Chinese investments can take advantage of the liberalization of Greek State and society.

We strongly believe that with effective administrative capacity and proper monitoring of the investment there are mutual benefits for both countries.

On this basis, the Hellenic Chinese Chamber (Commerce, Industry, Tourism and Shipping) will actively support all the Initiatives and share a mutual vision to strengthen and establish bilateral cooperation towards the expansion of the role of Greece as an important regional hub in the sectors of Commerce, Industry, Tourism and Shipping in Cooperation with China.

● To become the voice of the Greek business community to both Greek and Chinese governments through direct advocacy and well written and researched papers of both general and specific issues on Greek - Chinese matters

the development of the appropriate contacts Support and participate in important exhibition fairs, business forums, conferences, workshops and seminars Support the publication of books, journals and newsletters

Activities The Hellenic Chinese Chamber, in its continuous effort to play a central role in the development of business and economic relations between Greece and China, systematically takes initiatives and implements the following actions: Organize business and trade missions to China Host high-ranked Chinese governmental and business delegations in Greece and facilitate

Services The use of the core services is open to all HCC members. Additionally, the Hellenic Chinese Chamber services can be offered to all registered Greek and Chinese corporations on a pay – as-you- go basis. Upon individual negotiations, we can jointly tailor our services according to the needs and requirements of the interested parties.

Overall, the Hellenic Chinese Chamber can of-

fer the following services: ● Provide economic, trade, technological and other data in response to member’s requests ● Identify Greek and Chinese reliable business and trade partners for both Chinese and Greek corporations ● Provide advice on investment strategies, business practices, operational issues and regulatory environment ● Facilitate meeting with Greek and Chinese government officials ● Host roundtable discussions for members corporations with Greek and Chinese government officials and business experts ● Organize and support business forums, conferences, matchmaking events and training seminars

I 61 I

CREATIVE GREECE 2018

EXPORT LEADERS

Panagiotis Koutsikos Chairman of Greek - Turkish Chamber of Commerce

Business Cooperation between Greece and Turkey Most of the extroverted Greek companies operating in Turkey have used the services of the Greek-Turkish Chamber of Commerce. There are about 480 Greek companies -from the entire spectrum of the economy - operating in Turkey as investors, with the total capital invested amounting to 4.9 billion euros.

At the same time, there are only a few Turkish companies operating in Greece, with the total invested capital amounting to less than 350 million euros.

The total trade between the two countries in 2017 amounted to 3.2 billion euros, with 1.6 billion euros accounting for exports of Greek products to Turkey and 1.6 billion euros for imports of Turkish products to Greece.

Greek exports to Turkey include plastic products, electrical machinery, cotton, oil products, automotive oils, pharmaceuticals, jewelry, etc.

Greek imports from Turkey include tourist busses, auto parts, agricultural products, machinery, packing materials, etc.

The Turkish market is the largest in the region. The two main features making Turkey an important destination for business partnerships are its population of 80.8 million and the low average age of 30 years. Both of these features make Turkey a highly attractive destination for all kinds of Greek exports.

In the tourism sector, there is an evident need to further strengthen business relations as 1.0 million Turkish tourists

The total trade between the two countries in 2017 amounted to 3.2 billion euros I 62 I

visited Greece in 2017 and 1.0 million Greek tourists visited Turkey.

The Greek-Turkish Chamber of Commerce estimates that by 2020 the total trade between the two countries will reach 10.5 billion euros.

Within the framework of the total trade support, as well as the investments in Turkey, GTCC actualizes annually 16 business missions, which aim at products and services, which we are keen to export.

GTCC supports the businessmen financially as follows: ● It covers the expenses of a 4- or 5-star hotel for 2 nights along with breakfast. ● Airport transfer is provided daily to the hotel and to the convention hall.

In the same strategic plans we promote 10-12 conferences, which take place every year locally, and two Europe-wide in Turkey and Greece, respectively.

Our aspiration is to advance products we have investigated they are needed in Turkey, such as: ● frozen foods - seafood ● organic products ● fertilizers ● vegetables ● healthy diet products Turkey is confronting a lot of difficulties today, as a result of terrorist attacks. I do believe though that it will overcome them soon and it will emerge a winner through its experience.

❱❱❱

PATENTETD PROTEC

When innovation easily bridges the everyday approach

MEGAPLAST is a pioneer producer & exporter of perforated & reinforced stretch films in the area of best innovative packaging solutions. The company established in 1995 in Greece and supplies markets through its subsidiaries and offices in Europe & USA and a wide range of distributors worldwide. For over 20 successful years MEGAPLAST is constantly striving for excellence to ensure customer satisfaction and build strong customer and vendor relationships with respect to the social, ethical & environmental requirements.

Perforated stretch film: Reinforced stretch film with perforation. Perfect with products that are heated, chilled, breathable, wet and fumigated.

Reinforced stretch film: A unique high-efficiency stretch film with reinforcement elements (fibers) that increase Tear Resistance.

Ιndustrial Area, Road A/D, P.O. BOX 1252, 71001 Heraklion, Crete, Greece Telephone: +30 2810 381412 Email: sales@megaplast.gr

Athens Office: 38, Vassileos Konstantinou Ave., 194 00 Koropi, Attica, Greece Telephone: +30 210 8900081 Email: info@megaplast.gr

www.megaplast.gr Greece - UK - Germany - Italy - Spain - France - USA I 63 I

CREATIVE GREECE 2018

EXPORT LEADERS

❱❱❱

■ MAIN PRODUCTS IMPORTED FROM TURKEY IN 2017 VEHICLES - BUSES

GEMSTONES - JEWELRY

BOILERS - MACHINES - EQUIPMENT

PLASTIC PRODUCTS

IRON - COPPER

LIVE ANIMALS

TEXTILE PRODUCTS

OIL PRODUCTS

ELECTRICAL MACHINERY - EQUIPMENT

■ IN 2017, TURKEY WAS THE DESTINATION COUNTRY FOR THE FOLLOWING GREEK PRODUCTS OIL PRODUCTS 50% (MINERAL OILS - FUEL)

COPPER - IRON

VEGETABLES

NUTS AND EDIBLE FRUIT

PLASTICS (PLASTIC RAW MATERIAL - ARTIFACTS)

ALCOHOLIC DRINKS (WINE, OUZO, BEER)

COTTON

PHARMACEUTICAL PRODUCTS

ALUMINIUM - ARTIFACTS

FERTILIZERS, etc.

BOILERS - MACHINERY - EQUIPMENT

THE GREEKTURKISH CHAMBER OF COMMERCE AND ITS SERVICES

I 64 I

The Greek-Turkish Chamber of Commerce (ETEE) is recognized and operates in accordance with Presidential Decree 288/5/9/2001. The Chamber operates as an independent non-profit organization, under private law.

PURPOSE OF THE CHAMBER The promotion and development of commercial, economic, business and cultural ties between Greece and Turkey, with activities related to the these areas.

ETEE has already developed excellent relations with authorities, ministries, organizations, institutes and chambers in both countries so as to act as a reliable promotional mechanism of bilateral trade and investment with the purpose of providing reliable services to its members and third parties.

CHAMBER SERVICES TO MEMBERS: Weekly e-newsletter Members are updated every week via an e-newsletter on the economic, political and business news from Turkey, as well as on various business events and deals.

Organizing events The Chamber organizes and coordinates

events of commercial, social and cultural nature, inviting distinguished personalities from both countries to contribute to the overall promotion of the two countries’ relations.

Cooperation with other Chambers ETEE has established cooperation with all bilateral commercial, industrial, commercial and craft chambers of Greece and Turkey, creating opportunities for business deals, including with Central Asian countries.

Mediation ETEE can mediate in business differences, if requested to do so, and to offer its services to resolve the dispute amicably.

Conferences The Chamber holds 10 to 12 business conferences every year in Greece and Turkey, alternately, facilitating business contacts between companies from both countries.

Business missions More than 16 sectoral business missions are organized by the Chamber annually, to facilitate business relations between Turkey-based Greek entrepreneurs with

their Turkish colleagues, in the context of international fairs held in Turkey.

Sector International Fairs The Chamber participates in 100-120 sectoral international trade fairs annually, accompanying Greek businessmen.

Members can participate to any of these events, with two representatives per event.

The Chamber in cooperation with the organizing company cover the following: A. 5-star hotel costs for 2 nights with breakfast B. Transportation costs from the airport to the hotel and showroom daily C. Free ticket for entry to the exhibition D. Use of the exhibition center’s VIP room for business meetings E. Free meal at the exhibition center restaurant (applies for certain events) 27 K.Varnali Str, Kifissia- Athens , 14671 Tel.2117000264-7 Fax: 2110127466, E Mail: info@etee.gr - etee@etee.gr

I 65 I

CREATIVE GREECE 2018

EXPORT LEADERS

Alkiviadis Kalampokis President of the Exporters Association of Crete (EAC)

Crete as a regional pole of export development has played an important role in enhancing Greek extroversion I 66 I

Twenty four years of successful operation Export growth is a key factor in the recovery of Greece’s economy. Greek products of high quality and nutritional value must show their comparative advantages in order to gain the recognition and reputation that is right for them, both in the internal market and in third countries. This implies quality standards for raw materials, compliance with safety regulations (ISO, HACCP, etc.), international certificates such as IFS, BRC or other certificates required by modern purchasing mechanisms, modern and practical packaging, as well as a multilingual label. In addition, the agricultural sector needs to turn to new crops, organic crops and certified PDO & PGI products.

By combining the above, businesses will gain a better export profile, leading to the actual production process, job creation, increasing the national wealth, that is, the economic growth of our country.

However, efforts to establish a product abroad do not stop there. Great importance should be given to national branding, which in exports is as important as what is actually produced and sold.

Good image increasingly influences market decision (through emotions) and countries acquire «brand value» (e.g. Made in Greece). The enhancement of the image of Greek products and services can act as a leverage for the entry of Greek products into the foreign chains operating in the country. To create national branding, it is essential to coordinate at national level all those involved in extroversion, including the tourism sector.

The Agro-Food Partnership of the Region of Crete, with the brand “CRETE,” made a similar effort at the regional level. The CRETE brand is an additional trademark of the individual brands of the company that certifies that the product is of Cretan origin and adheres to the strict production, packaging, storage and transport rules set by the Agro-Food Partnership for the

acquisition of the mark.

The evolution of the image of agricultural products is most responsible for the steady increase in Greek exports. The strengthening of the agricultural sector with targeted promotional activities of the sector, which will be funded by strict criteria from Greece and Europe, will help increase export rates by bringing the desired results to the Greek economy.

At the same time, there should be special programs to enhance the liquidity of export enterprises and finance extroversion actions through the new development law, with a corresponding weighting based on the export percentage of the total turnover.

It is essential to diffuse and disseminate European export programs based on the actual productive structure of the country and indirect funding through tax exemptions for research and technological development expenditure. The elimination of the bureaucracy of local tax offices for the refund of export VAT is an incentive for export enterprises.

Crete as a regional pole of export development has played an important role in enhancing Greek extroversion. Also, as a gastronomic agrotourism destination, it contributes a large part to the total percentage of the agricultural sector per year. However, it should be kept in mind that Crete is not just a region of agricultural exports. The island is home to leading companies manufacturing and processing industrial products, such as plastics, with global export activity. Some of these companies’ products are globally patented and incorporate innovative ideas, applied to the production process to the benefit of the end user.

The Exporters Association of Crete (EAC) seeks to unify the stakeholders in Crete, in order to amplify the potential regional characteristics of the island. This proposal can also be a model for other regions of Greece.

n CRETE TOTAL EXPORTS Year 2016 2017

Value in million euros 464 440

Volume in tons 391,967 430,328

-5.17

9.79

Change Coordinated regional level promotional efforts will positively influence and add value to the promotion of Greek products abroad. Promoting products with the tools of Regional Marketing is an established practice of the Exporters› Association of Crete. The model of exhibiting with a unified profile —as Region of Crete— and the coordinated presence of Cretan enterprises has been successfully implemented by EAC at major international food and beverage exhibitions (ANUGA, SIAL, GULFOOD, FANCY FOOD etc) attracting a large number of business associates interested in Cretan Products.

Continuous flow of information, exchange of views, with a unique focus on the development of extroversion of export companies and the promotion of Cretan products to foreign markets, is a daily goal of the Exporters› Association of Crete.

During its 24 years of operation, EAC has successfully organized efforts to promote Cretan products to foreign markets, and supported the establishment of the traditional Cretan diet in the daily lives of foreign consumers. We are constantly seeking opportunities for new business transactions to promote Cretan exporters and to strengthen the island›s export trade profile.

Developing export strategies, focusing on the distinct advantages and qualities of all the products of each region, is a big job, but we, at EAC, with our limited resources have proved that if there is will (i.e. vision and persistence) there is a way, and our vision can become a reality.

The Exporters› Association of Crete EAC, one of the most dynamic regional associations in Greece, is already in its 24th year of firmly standing by the needs of the exporters of Crete. Its work is undoubtedly well-known and recognized by all those involved in export trade. Currently, there are 160 Cretan exporting member companies.

n Main Food and Beverages categories 9%

Other

2%

Fish – seafood

7%

Fruits

60% 22%

Vegetables Olive oil Excluding ship supplies in the EU and third countries

n Main markets

20%

27%

3% 3% 4% 4%

20%

Other

UK

Romania

France

Poland

Germany

Austria

Italy

USA Spain Netherlands

4% 5% 5% 5%

Excluding ship supplies in the EU and third countries

n Main sectors 1%

2%

3% Other sectors Building Materials

35%

Machinery & Appliances

58%

Textiles Chemicals & Plastics Food & Beverages

I 67 I

CREATIVE GREECE 2018

EXPORT LEADERS

George Polychronakis Expert Advisor INCOFRUIT – HELLAS

There is a clear lack of strategy in agricultural policy and it is apparent both at the cultivation level as well as at the trade level and particularly exports I 68 I

Exports of F&V dropped in 2017 (following a 2016 record) by 3.7% in value and by 12.6% in volume, while still maintaining the growth momentum of the past 5 years Exports of fresh fruit and vegetables fell by 12.6% in volume in 2017 (compared to 2016) and amounted to 1,471,302 tons, while value dropped by 3.7%, to 1.012 billion euros, according to the latest figures

by ELSTAT (Hellenic Statistical Authority), as interpreted by INCOFRUIT-HELLAS. This downward trend is considered normal following a stellar performance in 2016, as the sector registered 10-year records in many products. Average daily consumption is still short of the World Health Organization’s recommendation, however falling consumption figures seem to stabilize and we are probably entering a reversal period. Globally, fruit production increases by 2% while fruit trade increases by 7% per annum.

During 2017, exports of fruits dropped by 4.2% in value and by 14.3% in volume, for a total value of 850,524 million euros representing 1,267,465 tons. In the same period, vegetables had a slight reduction of 1.2% in value reaching 162 million euros, while maintaining volumes at 203,837 tons. In fruits, the most notable reduction in volume were in oranges (42%) and mandarins (30.2%) counterbalanced by increases in stonefruits (peaches nectarines, apricots, cherries) of 12.4% (5year high), strawberries 12.2% and table grapes 16.,6% (10-year high).

The extraordinary drop in lemon volumes essentially reflects the reality after an extraordinary jump in 2016. The best volume performance in vegetables was attributed to potatoes with a 43.2% rise.

Greece, while essentially maintaining a stable production in fruits and vegetables (with some expected annual variations) at about 7.5-8 million tons, has nevertheless significantly increased exports over the

past decade. From 1,027,568 tons, worth 718,847 million euros in 2007 to 1,683,746 tons and 1,051,520 million euros in 2016. In 2017 total volumes reached 1,471,302 tons worth 1.012 billion euros, which represents increases of 11.3% in volume and 15.5% in value, compared to 2015.

For the coming years we expect value to rise quicker than volumes in the EU. This is due to consumers switching from processed to fresh fruits but also switching from traditional low cost products (oranges, apples, melons) to higher value products like raspberries, strawberries, new melon varieties, avocado, mango, kiwi, new apple varieties and grapes.

Domestic consumption of fruits and vegetables is relatively small. In addition, the purchasing power of Greek consumers has been hit hard by the financial crisis for the seventh consecutive year. A recent increase in imports can be viewed as an indication of an improvement.

Greek exporters have not been discouraged by the loss of the Russian market, which for certain products was the main destination. As an alternative, sales to EU markets and third countries have increased. During the period 2015-2017, the pressure on prices has been great in all markets with a slight improvement in the current period. This situation should cause concern regarding long-term trade and lead to further expansion of our exports to new markets (e.g. South-East Asian countries, by accelerating bilateral phytosanitary protocols).

During the same period, there has been an increase in imports of vegetables by +15.6% in volume and by +10.6% in value, and also an increase in imports for fruit by +17.5% in volume and by +8.1% in value,

❱❱❱

n Exports of F&V in 2017 compared to 2016 products 1 2 Â

VEGETABLES, including FROZEN ETC FRUITS AND NUTS FRESH OR DRIED totals

2017 Euro 161,999,693 850,524,012 1,012,525,722

2016 % change 2017/2016 Tons Euro Tons Euro Tons 203,837 163,981,339 204,579 -1.2% -0.4% 1,267,465 887,539,258 1,479,167 -4.2% -14.3% 1,471,302 1,051,522,613 1,683,746 -3.7% -12.6%

Source: INCOFRUIT - HELLAS, based on data by ELSTAT

n EXPORTS OF FRESH FRUITS & VEGETABLES - 2017 compared to 2016 Products 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18

Potatoes Fresh tomatoes Peppers Cucumbers and gherkins Oranges Mandarins (including tangerines) Lemons Apples Melons Watermelons Strawberries Kiwis Peaches Nectarines Apricots Cherries Plums Grapes fresh

2017 EURO TONS 11,808,221 37,755 12,587,618 36,733 26,954,509 19,059 27,615,582 32,006 112,330,317 268,903 43,441,693 89,385 4,685,937 7,506 29,011,446 75,395 939,457 4,654 45,326,542 171,769 29,125,135 25,500 115,642,824 129,507 46,120,549 115,680 31,869,931 70,783 14,613,407 24,678 27,980,052 15,515 2,609,858 4,317 133,558,010 93,655

2016 EURO 9,150,163 13,907,859 29,799,438 31,091,045 174,193,156 54,923,005 14,181,286 33,441,592 1,065,949 44,339,639 27,965,976 85,465,815 47,849,562 36,583,233 14,114,027 31,487,683 3,874,637 115,208,382

TONS 26,359 41,366 21,765 40,483 461,939 128,098 23,221 88,891 5,097 178,373 22,723 131,735 100,214 69,008 16,178 16,172 7,673 80,338

% CHANGE EURO TONS 29.0% 43.2% -9.5% -11.2% -9.5% -12.4% -11.2% -20.9% -35.5% -41.8% -20.9% -30.2% -67.0% -67.7% -13.2% -15.2% -11.9% -8.7% 2.2% -3.7% 4.1% 12.2% 35.3% -1.7% -3.6% 15.4% -12.9% 2.6% 3.5% 52.5% -11.1% -4.1% -32.6% -43.7% 15.9% 16.6%

Source: INCOFRUIT - HELLAS, based on data by ELSTAT

I 69 I

CREATIVE GREECE 2018

EXPORT LEADERS n Imports of F&V in 2017 compared to 2016 product 1 2

VEGETABLES, FRESH & FROZEN ETC FRUITS AND NUTS FRESH OR DRIED totals

2017 Value in € Volume in tns 215,701,992 330,261 344,832,116 312,072 560,536,125 642,333

2016 Value in € Volume in tns 195,033,745 285,773 318,943,756 265,564 513,979,517 551,337

% change 2017/2016 in € in tns 10.6% 15.6% 8.1% 17.5% 9.1% 16.5%

Source: INCOFRUIT - HELLAS, based on data by ELSTAT

❱❱❱ mainly for tropical fruits (kiwis, pineapples, bananas, dates) but also lemons and pears.

The indications for winter crops are favorable (citrus & kiwifruits) which allow us to speculate that the 2017/18 season will reach record levels for kiwifruit and mandarins. The growth of the past few years seems to continue along with an improvement in the average value of F&V. There is a clear lack of strategy in agricultural policy and it is apparent both at the cultivation level (varietal development…) as well as at the trade level and particularly exports. The fruit and vegetable sector for example, which has nearly tripled volumes in the past 20 years, is in need of reform as demand is expected to exceed supply once domestic consumption is restored to pre-crisis levels.

We expect global F&V trade to continue growing partly due to the population rise and partly to improved incomes. To meet this increase in demand for new, better, cleaner products, as well as products not

I 70 I

grown locally, it is urgent to set a policy.

To improve competitiveness and maintain viability, our companies must develop better growing techniques, increase cold storage capacity and improve pack house efficiency. This clearly requires the immediate implementation of new strategies.

We believe existing EU regulations on crisis management and trading, particularly those concerning imports into the EU, need improvement towards restoring preference in F&V produced within the EU in order to restore balance on the Community market.

Review of imports from third countries into the EU: we should return to original principles, structures and values which gave preference to products of EU member states. Should this be achieved along with imposing the same rules and requirements in terms of cultivation and consumption in each member country, the community will absorb its own production and at higher prices.

I 71 I

CREATIVE GREECE 2018

EXPORT LEADERS

Antonis Chachlakis President of Federation of Greek Maricultures (FGM)

...Greek marine fish farming has proven several times that it endures difficulties...

I 72 I

Aquaculture in Greece Greek marine fish farming started in the 1980s’ with seabass and seabream farming.

Today, 62 companies operate 326 farms throughout Greece. Most of those companies are family owned businesses and small and medium enterprises, although there are a few large holdings producing also juveniles and fish feed. Nearly 35 years after its onset, Greek marine fish farming includes also other Mediterranean species, such as Meagre, Sharp-snout sea bream, Red porgy, Turbot, Dentex and Red Sea bream.

In 2017, production reached 107.000 tons of which 98% were sea bream and sea bass and 2% were all the other Mediterranean species (Meagre, Sharp-snout seabream, Red porgy, Turbot, Dentex and Red Sea bream).

The Greek production accounted for 59% of total European production and 31% of global production regarding sea bream and sea bass. In 2016 the harvest volume of sea bass and sea bream was approximately 105.000 tons.

However, given the ongoing restructuring process of the industry and the economic situation in the country, the period form 2012 – 2016 was marked by a focus on stability and profitability rather than production increases.

Therefore, the harvested volumes have been adjusted accordingly and after three years of stagnation the industry is projected to grow again in 2017 and reach almost 110.000 tons.

According to Mr. Antonis Chachlakis, President of FGM, the previous year (2017) was very challenging. As the year before it (2016), the domestic economic instability, the lack of progress in the licensing and other legal reforms related to the sector, as well as the increased international competition, mainly from Turkish farmers with their well-known “aggressive” commercial policy, characterized 2017 as a very tough year. However, Greek marine fish farming has proven several times that it endures difficulties, it has an inner dynamic and it’s a natural winner. As such, the year was also characterized by corporate stability, increased interest from foreign investors and the setup of the Hellenic

Producers Organization with main objective the promotion of Greek aquaculture products.

Furthermore, we have implemented the yearly plan that was set up in 2016 and aimed at further developing Greek aquaculture via R&D and other innovational programs.

We hope that governmental authorities will speed up the procedures needed for the legal framework of the sector and the utilization of available funds that will help its further progress. We truly believe that 2018 will be a landmark year for Greek marine fish farming, which, for one more year will prove to be the dynamic export sector that Greece’s economy needs.

Markets and trade of Greek sea bass and sea bream Greek aquaculture remains a highly export oriented sector that provides a positive contribution to the country’s trade balance.

Almost 80% of the total harvested volume exported and according to the National Statistics Agency (ELSTAT), in 2016 Greek sea bream and sea bass were exported to 32 countries globally. By far the largest market for Greek products is the EU as almost 90% of the harvested volume is sold there and the remaining 10% is exported to North America and other countries.

In 2016 exports reached 82,000 tons (78% of total production) of which 58% was sea bream and 42% sea bass. The respective total value exceeds the 430 million €. Regarding the distribution of exports, aprox. 96% of exports sold in EU countries 3% in North America and 1% in all third countries in Europe and the Middle East. Compared to 2015, exports in 2016 marginally increased although production decreased following the harvest trend. The average prices for both species in most markets also increased marginally.

Italy is the biggest market for Greek farmed fish as it stands almost for 47% of the Greek exports of fresh sea bream and sea bass. In 2016 Italy imported in total 63,962 tons of sea bream and bass, of which 38,899 tons (60.8%) were supplied from Greece.

n Bass and Bream harvest volume 140.000 120.000

118.000

108.000

116.000

113.000

110.000

105.000

109.900

100.000 80.000

MINI PROFILE OF FGM:

60.000 40.000 20.000 0 2012

2011

2013

Sea bream

2014

2015

Sea bass

2016

2017E

Total

n Main markets of sea bass and sea bream in 2016 2% 3% 3%

3%

Other EU 22%

8%

2%

Others Netherlands Germany Portugal

8%

United Kingdom 12%

37%

France Spain Italy Greece

n Exports of sea bass and sea bream in 2016

3%

4%

4%

2%

Others Other EU Netherland

10% 47%

3%

Germany Portugla United Kingdom

11% 16%

● Established in 1991, FGM represents the Greek aquaculture companies that produce Mediterranean euryhaline fish species and mainly Gilthead sea bream and European sea bass. ● FGM is also associated with Greek companies providing technology and services to industry, including fish feed. ● FGM currently represents 80% of the Greek aquaculture production and two-thirds of the total employees working in the sector. ● FGM is the official representative of the fish farmers to several bodies including: The State; the Public Authorities; European Institutions; International Organizations’; and since 1993 is a member of the Federation of European Aquaculture Producers (FEAP). ● Its main objective is to promote the sustainable development of the sector and maintain the leading position of its members in the production of Mediterranean species. ● Apart from the Board and the secretariat, FGM has three expert Committees (Marketing, Scientific Advice and Institutional Affairs) in order to effectively tackle the complex issues affecting the sector. ● FGM has significant experience in identifying vocational skill needs in the Mediterranean mariculture industry and in response developing pilot training programmes, at a Mediterranean level, in order to improve vocational proficiency and to ensure a sustainable mariculture sector.

France Spain Italy

I 73 I

CREATIVE GREECE 2018

EXPORT LEADERS

George Skouras President of Greek Wine Federation

Thanks to many years of efforts, by older wine makers, as well as by wine makers of my generation and new winemakers who follow enthusiastically, Greek wine is now everywhere...

I 74 I

Greek Wine, an exceptional taste Each time I am called upon to talk about wine, I feel a particular thrill, as my mind automatically recalls its thousands of years of history and its deep relationship with man and his society. I have been singling out the steady and varied presence of wine in the life of man: birth and death, joy and sorrow, peace and war, everyday labor and celebrations, over time this gift of the vine and the human mind has its place in our lives.

In fact, thinking about wine, I can only think of Man: the one who produced it and the one who would consume it. I feel deeply in solidarity with every producer of all times who, like myself, has been eternally exposed to unstable weather, worked hard since dawn during pruning or harvest, always agonizing for the smoothness of fermentation and leaps at the first test of his effort, wishing that his wine would accompany mainly happy moments of those who will consume it.

Of all the products produced by man from nature, it seems that wine is what has inherited his sociability. Because wine can be a reason for people’s approach and communication. A good tasting wine is a good reason for a meal invitation, and it is one of the first things to discuss among strangers: “Is the wine you drink good?

What is its variety composition? What year?

New winemaker? Your country’s wine tastes exceptional... “.

This last phrase is the most important credit I have received in the last ten years travelling around the world. Thanks to many years of efforts, by older wine makers, as well as by wine makers of my generation and new winemakers who follow enthusiastically, Greek wine is now everywhere, having acquired fans and friends even in very demanding consumers. Beyond the obvious economic importance of this, I would like to focus on strengthening the image of our country. Greece is not just a country that once produced. It is not a museum country. On the contrary, it still produces, and indeed in a very demanding sector, the wine. Based on the above considerations, Greece is a country that is alive in terms of wine production, an interesting country, charming, dynamic, with a past, present and especially a future.

Sometimes I wonder how our world would be if wine had not been discovered. It would of course have been replaced by another alcohol-containing product. But I am sure that the heart of man would not open so sweetly and slowly, and the joys and sorrows would not be experienced in the same way. I think that without wine, man and his culture would have less compassionate and warm presence.

Similarly, removing wine from Greece, deprives her of the vehicle to fulfil her sacred mission to humanity: to offer warmth and light even to its darkest and frozen parts.

n Wine foreign trade (2000-2016) The wine trade balance has remained in surplus in recent years. In 2016, there was a significant increase in exports, both in terms of quantity and value (8.0% and 10.2%, respectively), compared to 2015.

The quantity of wine exports in recent years accounts for a small portion of domestic production, in spite of the fluctuations it has recorded.

Percentage of wine exports to domestic wine production (2000-2016)

External trade in wine, in mil. â‚Ź

External trade in wine, in thousand tons

Imports

Source: Stochasis (Business Consultants), May 2017

Exports

* Provisional data, Source: ELSTAT

The average price of both exports and imports of wine, with the exception of 2016, has been on an upward trajectory in the period 2012-2016.

Average external trade price of wine, in â‚Ź/kg (2000-2016)

Imports

GREEK WINE FEDERATION - PROFILE

Exports

* Provisional data, Source: ELSTAT

The Greek Wine Federation (GWF) was established in 1995, when the historic Federation of Greek Wine and Spirits Industries was divided into two distinct sections, one for the wine industry and one for the spirits industry. Since then, GWF operates as a non-profit organization.

As an institution dealing solely with wine, it represents the interests of the wine industry in Greece and abroad.

The Greek Wine Federation, among others, aims at:

Note: The percentage of wine exports to domestic wine production is indicative.

It is estimated that one (1) litre of wine is equal to 0.998 kg. * Provisional data, Source: Processed ELSTAT data, Ministry of Rural Development and Food

Germany is the main country of destination for wine exports, in terms of both volume and value, attributed in part to the presence of a strong Greek minority in Germany.

Structure of wine exports, in quantity, by country of destination (2010-2016)

Germany

France

US

Cyprus

- Developing the production and distribution of Greek wines and vinicultural products through research and technological innovation, in order to achieve a high quality production - Safeguarding and promoting the interests of the wine industry, while dealing with the Greek State, the European Union and international institutions - Promoting the products of the wine industry in the internal and the external markets with

Structure of wine exports, in value, by country of destination (2010-2016)

Belgium Canada

Other countires

* Provisional data, Source: ELSTAT

the establishment of a coherent national policy on wine - Cooperating with the European and International Institutions on wine production or relevant sectors, in order to promote the interests of the Greek wine production.

The member companies of the Greek Wine Federation produce 75% of the total volume of wine produced in Greece and export 95% of bottled Greek wine.

I 75 I

CREATIVE GREECE 2018

EXPORT LEADERS

To Inspire our Farmers

Konstantinos Apostolou

The Greek Fruit Processing Industry is distinguished for being extrovert. Almost all of our production of canned fruits, puree and frozen fruits is exported, with dozens of countries buying our products. Yet, we always try to conquer new markets. Our great weapons are the Promotion Programs funded by the European Commission, which support our agricultural products by emphasizing their excellent quality.

The cornerstone of this effort is the production of high quality fruits, in adequate quantities. This is a job that most of our farmers know well. However, in the past few years, possibly due to a sense of disappointment nationwide, results have not been the as good as required. The produced quantities are disproportionately lower in comparison to the areas of orchards, while the quality of fruits could be better.

It is true that our farmers are in a difficult position. They now pay a much higher percentage of their income in taxes, public health insurance and public pension plans.

These and other factors result in much

President of the Greek Canners Association (EKE)

Greek Canners Association Presentation

The Greek government needs to face this problem and revisit the issue of high costs that burden our farmers due to taxes and mandatory insurance I 76 I

higher production costs, which discourage them. At the same time, the price of fresh fruits to processors is mostly determined by global competition and rising them is not easy. Competition with many countries, including China, is lurking.

The Greek government needs to face this problem and revisit the issue of high costs that burden our farmers due to taxes and mandatory insurance. It needs to take into consideration the respective costs that farmers in our competing countries face.

A higher tax-free income limit could be helpful, since farming in Greece is usually a low-scale, family operation.

The total income from processed fruits in Greece is more than 400 million euros annually. This is very significant for the country, especially during the current tough period.

The people of our industry, farmersprocessors-workers, fight every day to keep Greece in the first place among exporters of canned peaches.

The government should do its part as well.

The Greek Canners’ Association (EKE) was founded in 1996. Its aim was to represent business organizations that produced canned fruits (mainly peach, but also pear, apricot and fruit cocktail).

Today, EKE represents 15 organizations that produce not only canned fruits but also peach and apricot puree and frozen fruits.

Most of the facilities are located in the prefectures of Pella, Imathia and Larissa.

Fruits are sourced from the prefectures of Pella, Imathia, Florina, Pieria, Larissa, Argolida and Korinthia.

More than 12,000 families of farmers are involved in fruit production, while more than 10,000 people work in the factories, whether full-time or seasonally.

The final products of our members are almost all exported (more than 98%).

This results in an annual income of 300 to 400 million euros.

Greece continually ranks first in the list of canned peach exporting countries worldwide.

EKE is a very active member of PROFEL, the European Association of fruit and vegetable processors, and has been representing Greece in the World Canned Deciduous Fruit Conference since 1996.

Contact Details: Kopanos Naousas, 59035 Tel.: +30 23320 43237 Fax: +30 23320 43006 Email: eke@delcof.gr Website: www.delcof.gr

I 77 I

CREATIVE GREECE 2018

EXPORT LEADERS

Georgios Doukidis President of Aluminium Association of Greece

The Aluminium Association of Greece strongly supports the efforts of its members towards extroversion I 78 I

The Greek aluminium sector The aluminium sector in Greece began developing significantly in the 1970s.

Greece’s considerable amount of bauxite reserves, located primarily in the mainland, and the establishment of the alumina and aluminium production plant was a significant factor towards this growth.

Nowadays, the Greek Aluminium sector is totally vertical, consisting of companies on bauxite mining, alumina production, primary, and secondary aluminium production, rolling, extrusion, other semis’ and end-uses productions.

Despite the difficult economic conditions in the country during the crisis and the collapse of the domestic market, the sector has shown great ongoing adaptability and flexibility, and exports became a permanent objective for aluminium companies.

Today, the aluminium industry, according to the ELSTAT data for 2017, is the most export oriented one with exports: ● accounting for 5.6% of total Greek exports ● recorded an average annual growth rate of around 12.5% during the past 10 years ● account for 75% of the sector’s total sales ● oriented to the EU market by 74% The above facts reflect the competitiveness of the aluminium sector that has the second best commercial balance of exceeding 640 million euros (2017) at national level.

As for the future, due to the unique combination of aluminium properties, such as light weight, resistance against corrosion, simple processing, low cost

maintenance, recyclable nature, leading to energy savings and reduced emissions, the variety of applications of aluminium, specially the sustainable ones, continues to increase. In the international market there is a growing demand for aluminum in particular in automotive and transport sector. Its use in this area is most widespread in cars, airplanes, buses, fast ferry boats, trams and all kinds of trains, and the Greek aluminium exporting industries are ahead of new challenges.

In this direction the Greek government should take measures to increase liquidity, reimbursement of VAT, measures to stop the unfair competition that is created by the illegal trading of aluminium products in neighboring countries. Stable tax and business environment is also very important since this will increase the reliability of the Greek economy and will assist Greek exporters to stabilize their cost of sales in comparison to international competition.

The Aluminium Association of Greece strongly supports the efforts of its members towards extroversion. At the same time, it is by-the-side of that part of the sector, mainly the micro companies that operate in the field of door and window manufacturing , that has been affected severely by the collapse of the building construction market and could not invest on exports.

The aluminum industry with its dynamics, high know-how and high quality products that are accepted by the international markets is a powerful factor in the growth of the national economy.

500.000

n ALUMINIUM SECTOR EXPORTS EVOLUTION

0

250.000

TONS

250.000

500.000

2010 2011 2012 2013 2014 2015 2016 2017 0

2010 2011 2012 2013 2014 2015 2016 2017

n ALUMINIUM SECTOR: EXPORTS and COMMERCIAL BALANCE EVOLUTION (Values in â‚Ź) 2.000.000.000 2.000.000.000

1.500.000.000

1.500.000.000

1.000.000.000

1.000.000.000

500.000.000

500.000.000

0

0

2010

2010 2011 2011

2012 2013 2013 2012 EXPORTS

EXPORTS

Profile

2014 2014 201520152016

2017 2016

2017

CO. BALANCE

CO. BALANCE

The Aluminium Association of Greece (AAG) was established in 1985 and its members include industries and unions covering all the phases of aluminium production and processing.

In more detail, AAG members cover the following sectors: Alumina production, primary and secondary aluminium production, rolling industry, extrusion industry, cables, anodizing and coating and end-

uses ( beverage cans, doors/ windows).

AAG represents the interests of the aluminium industry and among its objectives is the promotion of the Greek aluminium products in the domestic and international markets.

AAG acts as the communication channel of the sector to the Public Authorities and other stakeholders.

AAG is member of the Europe-

an Aluminium (European Aluminium Association - EAA) and has close cooperation with the corresponding associations of other European countries.

AAG is also a founding member of AAG-NPC, an accredited Certification Body (ISO/IEC 17065) for granting the QUALICOAT and QUALANOD labels.

I 79 I

Greek exports of goods EXPORT LEADERS and services during Vassilis Regouzas the financial crisis

CREATIVE GREECE 2018

Chairman of the BoD of SESMA (Hellenic Association of Management Consulting Firms), President & Managing Director STOCHASIS SA Management Consultancy

The evolution of Greek exports of goods and services in the period 2010-2016, i.e. during the implementation of the Fiscal Adjustment and Structural Reforms Program, is seen as positive both in relation to the evolution of domestic GDP and to the evolution of imports of products and services.

In particular, total exports of goods and services, according to ELSTAT (Hellenic Statistical Authority) data, as a percentage of GDP, increased from 22.1% in 2010 to 30.4% in 2016, which brings the ratio of imports/exports to 93.5% in 2016, compared to 71.9% in 2010, and reduced the deficit of the external goods and services balance to 2.1% of GDP in 2016 against 8.6% of GDP in 2010.

compared to the other countries under consideration.

Over the larger period 1995-2016, the CAGR of Greek exports of goods (4.3%) was slightly lower than the euro zone average (4.7%). As a percentage of GDP, although exports of goods have increased significantly from 8.0% in 1995 to 16.8% in 2016, they remained at a very low level compared to other countries.

This is because Greece has significant comparative advantages in the service sector, which in spite of a large decline in 2010-2016, it has remained at a much higher level in Greece than in other euro zone countries. In fact, exports of services (at 2010 prices) recorded a decline of -1.0% in the period 2010-2016, despite

n Imports - exports of goods and services as a percentage of GDP (in fixed values 2010)

Greek exports of goods in the period 2010-2016 (at fixed 2010 prices) recorded a Compound Annual Growth Rate (CAGR) of 4.8% I 82 I

Balance of goods and services Exports of goods and services as a % of GDP Imports of goods and services as a % of GDP

Greek exports of goods in the period 2010-2016 (at fixed 2010 prices) recorded a Compound Annual Growth Rate (CAGR) of 4.8%, which was higher than the corresponding figures of Spain, Italy and Germany, while the average for the EU19 was 3.9%. Also, exports growth as a percentage of GDP was higher than the other EU countries except of Portugal, notwithstanding the fact that this increase was recorded from very low levels,

the significant increase in revenues from incoming tourism (CAGR: 5.5%) and exports of other services (CAGR: 1.9%). The increase in CAGR for other services would have been higher if they had not fallen by -14.0% in 2015 due to capital controls.

It is also a fact that by 2013 it was often argued that the increase in Greek exports of goods was mainly due to the large increase in exports of petroleum products.

Exports of petroleum products recorded

❱❱❱

I 83 I

CREATIVE GREECE 2018

EXPORT LEADERS

The Hellenic Association of Management Consulting Firms (SESMA) was founded in January 1991 by 23 leading Consultancies in Greece. Today SESMA numbers 48 members, including the country’s large domestic and international firms. SESMA members represent more than 70% of the total turnover of the consulting market in Greece and employ more than 2,000 highly skilled and experienced consultants.

SESMA has extensive experience in the organization of conferences, forums, networking and training events for members, as well as consultants from other countries. In addition, SESMA is active in lobbying the government regarding issues that are relevant for the consulting profession, promoting our position as a valuable social partner.

SESMA is also a member of the European Federation of Management Consultancies Associations (FEACO), the Federation of Greek Enterprises (SEV) and the Federation of Industries of Northern Greece (FING).

OBJECTIVES SESMA’s objectives are: To develop and grow the Hellenic consulting market To develop the consulting profession and increase the value of the services provided by consultants to the private and public sectors To promote the interests of its members To promote the image of the Consulting profession To represent the profession at local, national and international level To function as a key social partner.

I 84 I

❱❱❱ a significant increase of 10.2% (at fixed 2010 prices) in the period 2010-2016, and a jump of 16.1% in the period 1994-2016.

This was undoubtedly a success for the Greek enterprises in this significant sector.

However, exports of goods excluding petroleum products increased by 3.0% in the period 2010-2016 and 2.0% in the period 2004-2016.

Foreign trade statistics regarding 2016 by ELSTAT are also interesting, concerning the width and growth potential of Greek exports of goods, showing that Greece exported 880 products in 4-digit codes of the international trade Combined Nomenclature [CN] (taking into account transactions of above 100,000 euros), which were directed to 186 countries.

Consequently, the range of exported Greek products combined with the large number

of countries-export destinations highlights the growth potential for Greek exports in the coming years, especially given the low share of Greek exports in world trade.

Additionally it is worth mentioning that, according to the results of the Barometer of the Greek Economy GRe+1, which surveys the views and expectations of the managing directors of SESMA member firms (Hellenic Association of Management Consulting Firms), in the fourth quarter of 2017 management consultants were significantly more optimistic regarding the exports of products and services for the following year. More specifically, the percentage of those predicting an increase were by 46.2% higher than those predicting a drop. Improvement was also recorded when comparing the average of expectations between2017and2016.

59,5 46,2

46,0 30,6

28,0

18,4

12,2 0,0

20,4 16,3 20,0

26,1

4,1 6,1

-6,1 -23,9 I

II III 2014

IV

I

II III 2015

IV

I

II III 2016

IV

I

II III 2017

IV

I 85 I

CREATIVE GREECE 2018

EXPORT LEADERS

George Pittas President of Greek Federation of honey packers, distributors and exporters (SETSEM)

...apiculture, whether as an exclusive or secondary business, is a sector of agricultural economy that contributes significantly to the income of agricultural and other families.

I 86 I

Greece a bee-keeping country Honey exports in recent years have reached approximately an annual 1,700 tons of branded and bulk honey, both Greek and non-Greek, most of it intended for re-export. Greek honey is exported practically across the globe The members of SETSEM (Association of Greek Standardisers, Packagers, Exporters of Honey) export only branded Greek honey. Among the members of SETSEM, the greatest volume of exports are made by ATTIKI - PITTAS SA, which has been exporting the awarded ATTIKI Greek honey since 1930 to more than 37 countries.

Greece is a primarily bee-keeping country, with a tradition of thousands of years in apiculture, mainly the result of the excellent environmental and weather conditions that prevail, as well as the exceptional and variable bee forage of the country, and Greeks’ belief that honey is “the food of the Gods”.

The comparative advantages of Greek honey, compared to international competition, are: The large number and rich variety of pollen grains it contains, its excellent organoleptic characteristics that are mainly the result of rich wild vegetation, the nomadic bee-keeping of Greek beekeepers, who move their beehives from one location to another, depending on what

plants are blossoming each time, the correct bee-keeping practices observed

by Greek bee-keepers.

In general, apiculture, whether as an exclusive or secondary business, is a sector of agricultural economy that contributes significantly to the income of agricultural and other families. Our country’s main problem is the absence of any programs for promotion to markets abroad, resulting in foreign consumers knowing very little about the excellent quality of Greek honey.

Another negative factor is the high price of the Greek honey, that is caused by the high production cost, and the fact that the state should assist exporters, facilitating red-tape procedures between countries, and mainly between Greece and third countries. Exports are now accomplished thanks to the persistence of export companies, assisted by the personal efforts of the responsible employees, and unfortunately not by the general orientation of the state. The state is obliged to support the efforts of organised and established companies because they will open the way for the others. Finally, this will help protect the product’s good name, which is at stake when products are exported by amateur and ignorant exporters, who thus defame the country.

SETSEM (Association of Greek Standardisers, Packagers, Exporters of Honey) was established in 1983 as an “Association of Persons”, under the auspices of SEVT (Hellenic Federation of Food Industry), as its sectoral organisation. Since then, it became a member of the “National Interprofessional Organisation of Honey & Other Beehive Products” of FEEDM “Federation Europeenne Des Emballeurs et Distributeurs de Miel”. SETSEM aims to promote Greek honey and to cooperate with all apiculture organisations in Greece and abroad, and is the main representative of honey packagers and exporters of our country.

SETSEM members: ATTIKI - PITTAS SA ELLINIKI ETAIREIA MELITOS SA DELFOI SA KAVOURAS P. & CO GP Hellenic Apiculture Center Pending registration of 9 new members.

President of SETSEM is Mr. George Pittas, who is also the President of FEEDM “Federation Europeenne Des Emballeurs et Distributeurs de Miel”.

340 Kifissias Ave., 154 51, Neo Psychiko Tel: +30 210 6711177, 210 6723215 & 210 6754835, Fax: +30 210 6711080 Email: setsem@sevt.gr, Website: http://www.sevt.gr/

ENERGY FOR GREECE Natural Gas: The fuel of the 21st century Natural Gas, global experts say, is on its way to being the primary energy source of the 21st Century. This is especially true for Greece.

DEPA was created to bring Natural Gas - and all its benefits - to Greece. Our mandate was clear, and our sense of purpose, since day one, has been unwavering. As the largest Natural Gas importer, DEPA is our guarantee to a secure Natural Gas energy supply, now and in the future.

Our goal is to ensure all consumers in Greece have access to Natural Gas, to rapidly develop and expand the distribution and use of CNG and LNG, and to reinforce our commitment to serving Greek society and its citizens with the best service, pricing, and social support.

As a public company, DEPA never loses focus of its most important objective: serving Greek citizens and the communities in which they live. Our obligation to be financially profitable is matched by our duty to be socially and environmentally responsible - a duty we take seriously.

5.006

5.600

5.870

6.019

7.698

Our five strategic goals A Secure Supply Wherever you are at home, at work, at your business, in school, we are committed to ensuring you have safe, secure, economical supply of Natural Gas.

Leading Market Performance DEPA is dedicated to supporting a liberalized and high-performing market - as a leader.

Develop From day one, we have been developing a comprehensive, modern national gas infrastructure, serving Greece. The next decade will see this infrastructure expand considerably throughout Greece.

Contribute Actions speak louder than words. Our initiatives for a green and efficient gas market are second to none.

3.408 2.611

Support 2003

2005

2008

2011

2014

2016

Natural Gas network expansion in km (medium and low pressure)

2020

estimate

Strong communities create strong societies.

Our support to community development is unwavering.

DEPA’s 3.0 billion euro investment program has succeeded in building a massive transport system to carry Natural Gas from Thrace to Attica and to all major urban centers on the Greek mainland.

DEPA is a story of bringing Natural Gas to Greece, continual growth, and community

development.

DEPA supports

competitiveness of

commercial and industrial enterprises and families' living standards.

COMMERCIAL ACTIVITIES DEPA is the crucial hub of Greece’s Natural Gas industry, supplying the domestic market, importing and reexporting Natural Gas, investing in core infrastructure, and expanding the many applications of Natural Gas in the country. As such, DEPA is responsible for a wide spectrum of commercial activities and supplies gas to an ever-growing list of key customers:

DEPA Gas Prices - the last 6 Years

Electricity producers Large-scale consumers: customers with an annual consumption greater than 10 GWh. 2012

Gas Supply Companies (EPAs) End users in regions where Gas Supply Companies have yet to be established.

Industry

Gas supply companies

Power producers

Drivers of gas powered vehicles.

In addition, DEPA supports the use of Natural Gas in new markets:

Working for a better tomorrow

Cogenerations and air conditioning.

CNG supply to remote regions.

Natural Gas in the agricultural sector.

Depa is recognized for CSR and Sustainability by Corporate Responsibility Index and for the company participates in initiatives for CSR. • •

Natural Gas Sales - 2017 Total 43.9 mil. MWh

• •

Reduces its environmental footprint.

Provides a transport fuel that is clean, economical and abundant.

Creates opportunities for jobs in local communities.

Offers cheap energy for the consumers, the industry and the business.

At DEPA, we believe being responsible is a starting

point, not a goal.

Power Generation 70.4%

Vehicle Gas 0.4%

Industry - Chemical Use 8.5%

Domestic Use 7.7%

Industry - Thermal Use 2.1%

Gas Suppliers 3.6%

Co-Generation 0.8%

DESFA Consumption losses 0.3%

Commercial Use 3.2%

DESFA Counter Balance 3.0%

NATURAL GAS in your life everyday For home The domestic use of natural gas provides ease, autonomy, safety and less strain on the family budget. Through the continuous and stable supply of natural gas, every household can ensure: • •

Heating, without dependencies and with constant supply Cooking and hot water

Key features of natural gas in the household are: • •

Autonomy, promptness and speed.

Constant and permanent supply, without dependencies.

For commercial sector Natural gas is the best solution for commercial activities. Hotels and hospitals, educational institutions, sport and cultural centers, large office buildings, malls and shops can all use natural gas.

Key advantages of natural gas in the business sector are: • • •

For industry Natural gas is the sustainable choice for industries with direct and indirect thermal needs, enhancing their competitive edge.

Natural gas is a user-friendly, efficient, clean and economical fuel.

Main advantages in using natural gas in the industrial sector are: •

• • •

Constant supply of the fuel, ensuring uninterrupted operation, and unblocking of capital to maintain reserves and storage space.

Reduced pollution emissions, crucial for a cleaner environment and reduction of the greenhouse effect.

Reduced operational cost and maintenance management.

Increased energy efficiency.

Avoidance of orders and delayed fuel deliveries.

Better utilization of space.

Reduced operational expenses.

IGB

TAP

TAN

GI

AP

I

Areas covered by the existing pipline network Network expansion phase 1 Network expansion phase 2 Network expansion phase 3 Natural Gas high-pressure pipeline

Poseidon Med II Poseidon Med II project is a practical roadmap which aims to bring about the wide adoption of LNG as a safe, environmentally efficient and viable alternative fuel for shipping and help the East Mediterranean marine transportation propel towards a low-carbon future.

The project, which is co-funded by the European Union, involves three countries Greece, Italy and Cyprus, six European ports (Piraeus, Patras, Limassol, Venice, Heraklion, Igoumenitsa) as well as the Revithoussa LNG terminal.

The project brings together top experts from the marine, energy and financial sectors to design an integrated LNG value chain and establish a well-functioning and sustainable LNG market.

Co-financed by the European Union Connecting Europe Facility

EASTMED Areas covered by the existing pipline network Network expansion phase 1 Network expansion phase 2 Network expansion phase 3 Natural Gas high-pressure pipeline

TOWARDS A CLEANER AND SAFER ENERGY FUTURE with a dinstict social dimension DEPA is participating in the development of major international projects included on the EU’s Projects of Common Interest (PCI) list.

Southern Gas Corridor: DEPA has ensured natural gas purchases of quantities entering Greece via the Trans Adriatic Pipeline (TAP) through its participation in the development of the Southern Gas Corridor.

An ambitious expansion plan is already under way DEPA will retain its overall supply strategy, international negotiations and contract signing, as well as the realization of international pipeline projects.

A new company, Gas Distribution Company for the Rest of Greece (DEDA) S.A., a wholly-owned DEPA subsidiary, was launched on 01/01/2017.

Gas Interconnector Greece-Bulgaria (IGB): A project of strategic importance, the IGB will, besides Bulgaria, also supply natural gas to the wider southeast European region. It is being developed by the ICGB consortium, involving DEPA with a 25 percent stake.

DEDA will take over the construction, extension and activation of new supply networks in regions beyond the domain of the other two existing distribution companies (EDA Attica and EDA Thessalia -Thessaloniki).

Liquefied Natural Gas Terminal in northern Greece: On October 12, 2017, DEPA signed an agreement for its involvement in the LNG terminal project being developed by Greek firm Gastrade in the Alexandroupoli area, northeastern Greece.

Recently, DEDA has signed a 48 million-euro loan agreement with the European Bank for Reconstruction and Development (EBRD) to finance its development of the distribution network in Central Greece, Central Macedonia and Eastern Macedonia -Thrace.

EastMed Pipeline: The EastMed pipeline, to carry gas from the Levantine basin, will be connected with the Cypriot and Greek natural gas grids operated by DEFA and DESFA, respectively, as well as with the POSEIDON pipeline in Thesprotia, northwestern Greece, through which natural gas will be supplied to Italy and western European markets. The POSEIDON project is managed by DEPA subsidiary IGI-POSEIDON SA. Its development is scheduled to commence in 2024 or 2025.

Poseidon Pipeline (IGI)/Southeast European Corridor: The development of POSEIDON, a Greek-Italian submarine pipeline connection, is regarded as a project of strategic importance by IGI-POSEIDON. IGI-POSEIDON has opted to develop alternative supply choices, besides the EastMed pipeline, through the POSEIDON extension that will curry gas available at the Greek - Turkish borders.

DEPA’s actions are

100% COMPATIBLE to European energy policy

COMPRESSED NATURAL GAS for transport Compressed Natural Gas (CNG) is used for transport (cars, trains, trucks, ships, buses). Today millions of vehicles around the globe are powered by CNG, thereby reducing emissions and increasing energy efficiency.

Clean environment Greater savings Less damage Unadulterated fuel Noiseless performance High reliabity Security

Based on current prices, the price of natural gas relative to other fuels is

-60%

-30%

-40%

GASOLINE

DIESEL

LPG

CREATIVE GREECE 2018 EXPORT LEADERS

CREATIVE GREECE 2018

EXPORT LEADERS

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43

I 96 I

HELLENIC PETROLEUM S.A. PPC S.A. MOTOR OIL ELVAL HELLENIC ALUMINIUM INDUSTRY S.A. KARELIA TOBACCO COMPANY INC. HALCOR METAL WORKS S.A. COCA - COLA 3Ε S.A. ELAIS UNILEVER HELLAS S.A. NESTLE HELLAS S.A. ELPEDISON S.A. ATHENIAN BREWERY S.A. NITSIAKOS S.A. PAPASTRATOS S.A. ΜΕΤΚΑ S.A. ΤΙΤΑΝ S.A. SOVEL S.A. SOYA HELLAS S.A. PROTERGIA S.A. DELTA FOOD S.A. HERACLES GENERAL CEMENT COMPANY VIANEX S.A. BOEHRINGER INGELHEIM HELLAS S.A. HELLENIC DAIRIES S.A. CORINTH PIPEWORKS S.A. BIC VIOLEX S.A. SOYA MILLS S.A. HERON S.A. NIREUS AQUACULTURE S.A. SELONTA AQUACULTURE S.A. SYSTEMS SUNLIGHT S.A. FAGE DAIRY INDUSTRY S.A. PHARMATHEN S.A. CROWN HELLAS CAN S.A. MEGA DISPOSABLES S.A. OLYMPIC BREWERY S.A. E.J. PAPADOPOULOS S.A. SARANTIS GROUP PLASTIKA KRITIS S.A. VIOLAR S.A. FULGOR S.A. DEMO S.A. PAVLOS N. PETTAS S.A. ELPEΝ S.A.

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES TURNOVER 2015

TURNOVER 2016

PRE-TAX INCOME 2015

PRE-TAX INCOME 2016

6.584.471.000,00 € 5.675.402.000,00 € 5.276.468.000,00 € 449.636.709,00 € 629.520.000,00 € 451.690.228,00 € 412.900.000,00 € 419.644.062,00 € 365.426.715,00 € 194.958.000,00 € 308.606.778,00 € 236.705.541,00 € 274.155.035,00 € 411.924.000,00 € 273.193.000,00 € 207.640.379,00 € 261.028.621,00 € 123.933.522,00 € 261.281.000,00 € 218.330.000,00 € 210.269.984,00 € 235.469.981,00 € 238.624.847,00 € 257.169.631,00 € 208.806.407,00 € 193.216.774,00 € 131.381.000,00 € 165.421.191,00 € 140.396.584,00 € 136.554.756,00 € 182.547.000,00 € 150.383.892,00 € 146.435.664,00 € 134.517.065,00 € 127.630.162,00 € 135.576.830,00 € 120.722.091,00 € 128.690.000,00 € 124.721.789,00 € 178.447.085,00 € 123.333.187,00 € 123.381.451,00 € 119.784.368,00 €

5.992.446.000,00 € 5.155.250.000,00 € 4.511.920.000,00 € 771.012.877,00 € 646.740.000,00 € 420.501.734,00 € 411.800.000,00 € 400.950.309,00 € 372.881.521,00 € 322.230.000,00 € 321.628.672,00 € 301.470.991,00 € 291.633.208,00 € 280.644.000,00 € 262.475.000,00 € 256.881.649,00 € 251.713.412,00 € 242.920.000,00 € 238.534.000,00 € 235.587.000,00 € 228.865.965,00 € 226.830.856,00 € 224.952.645,00 € 210.694.839,00 € 202.645.697,00 € 196.630.000,00 € 193.725.000,00 € 175.043.934,00 € 169.957.246,00 € 168.434.865,00 € 159.160.000,00 € 156.460.711,00 € 153.041.731,00 € 148.580.000,00 € 146.856.976,00 € 142.716.377,00 € 140.243.961,00 € 140.059.000,00 € 137.794.776,00 € 136.444.014,00 € 136.328.806,00 € 134.459.868,00 € 125.204.191,00 €

22.725.000,00 € -206.857.000,00 € 291.798.000,00 € 15.133.978,00 € 83.350.000,00 € -9.421.801,00 € -5.900.000,00 € 1.385.620,00 € 10.731.719,00 € -26.387.000,00 € -16.838.029,00 € 4.083.567,00 € 7.890.876,00 € 47.167.000,00 € 63.619.000,00 € -10.395.452,00 € 11.380.065,00 € -15.159.774,00 € -12.009.000,00 € -42.191.000,00 € 9.072.728,00 € 2.987.311,00 € 17.919.750,00 € 5.468.462,00 € 48.783.829,00 € 4.911.818,00 € 7.326.000,00 € 68.996.699,00 € -4.148.743,00 € 1.868.192,00 € 1.791.000,00 € 13.374.027,00 € 57.448.863,00 € 6.103.451,00 € -1.956.485,00 € 10.593.276,00 € 11.240.658,00 € 17.292.000,00 € 1.027.815,00 € 3.980.361,00 € 18.984.548,00 € 10.802.574,00 € 4.916.263,00 €

466.224.000,00 € 200.042.000,00 € 392.804.000,00 € 27.055.670,00 € 88.290.000,00 € -22.772.665,00 € 2.100.000,00 € 8.090.717,00 € 5.506.909,00 € -13.190.000,00 € 13.397.576,00 € 8.038.957,00 € 27.143.508,00 € 28.667.000,00 € 22.706.000,00 € 2.551.621,00 € 11.071.375,00 € 3.360.000,00 € -15.588.000,00 € -18.886.000,00 € 12.974.854,00 € -2.834.921,00 € 7.632.927,00 € 13.771.308,00 € 40.717.372,00 € 4.210.000,00 € 6.192.000,00 € 6.509.000,00 € 12.561.581,00 € 5.270.973,00 € -10.352.000,00 € 12.755.137,00 € 3.336.952,00 € 5.090.000,00 € 1.820.866,00 € 10.013.763,00 € 15.108.885,00 € 22.163.000,00 € 2.007.047,00 € -6.729.306,00 € 17.883.633,00 € 9.818.462,00 € 9.297.610,00 €

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CREATIVE GREECE 2018

EXPORT LEADERS

44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88

I 98 I

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES

ALUMIL ALUMINIUM S.A. FAMAR S.A. HELLENIC CABLES S.A. MEVGAL S.A. ION S.A. COCOA & CHOCOLATE MANUFACTURERS CORAL GAS S.A. JOHNSON & JOHNSON HELLAS S.A. HELLENIC QUALITY FOODS S.A. AGROINVEST S.A. DODONI S.A. AGRICULTURAL DAIRY INDUSTRY OF EPIRUS TASTY FOODS S.A. SIDENOR STEEL INDUSTRY S.A. PETROGAS S.A. CRETA FARM S.A. ELBISCO S.A. AUTOTECHNICA HELLAS S.A. LOULIS MILLS S.A. INTRACOM TELECOM S.A. KORINTHOS POWER S.A. KOLIOS S.A. THRACE NONWOVENS & GEOSYNTHETICS S.A. ASEA BROWN BOVERI S.A. BARBA STATHIS S.A. IFANTIS S.A. SEKAP S.A. INTERCOMM FOODS S.A. KLEEMANN HELLAS ΑΒΕΕ LARSINOS S.A. INTERBETON BUILDING MATERIALS S.A. NEXANS HELLAS S.A. EXALCO S.A. KARAGIORGOU S.A. AMBROSIADIS S.A. YIOTIS S.A. BARILLA HELLAS S.A. MINERVA S.A. ATLAS TAPES S.A. HELLENIC AEROSPACE INDUSTRY S.A. PROMETALBAKLI S.A. COSMOS PROFIL S.A. MONOTEZ S.A. HELLENIC SUGAR INDUSTRY S.A. VIKOS S.A. EPIROTIC BOTTLING INDUSTRY FLEXOPACK S.A. A. HATZOPOULOS S.A.

TURNOVER 2015

TURNOVER 2016

111.634.983,00 € 124.606.945,00 € - € 110.285.000,00 € 104.444.586,00 € 112.335.000,00 € 91.408.996,00 € 104.016.155,00 € 94.546.298,00 € 95.449.318,00 € 97.262.563,00 € 143.650.800,00 € 113.961.137,00 € 105.078.000,00 € 100.675.000,00 € 19.921.668,00 € 101.371.750,00 € 94.992.458,00 € 48.111.029,00 € 89.697.483,00 € 83.101.000,00 € 83.199.240,00 € 89.590.000,00 € 86.225.729,00 € 91.619.930,00 € 83.298.278,00 € 83.680.000,00 € 51.777.506,00 € 71.638.834,00 € 71.768.000,00 € 71.717.378,00 € 89.902.998,00 € 70.029.790,00 € 70.342.188,00 € 72.889.363,00 € 68.366.733,00 € 72.341.911,00 € 65.598.545,00 € 75.374.224,00 € 70.769.000,00 € 73.268.196,00 € 80.671.479,00 € 64.231.632,00 € 62.271.000,00 € 64.867.968,00 €

121.717.597,00 € 120.074.013,00 € 119.008.109,00 € 109.599.000,00 € 107.885.229,00 € 104.913.000,00 € 103.770.523,00 € 103.464.372,00 € 101.632.517,00 € 100.449.092,00 € 98.892.080,00 € 98.001.177,00 € 97.937.255,00 € 97.747.000,00 € 97.584.000,00 € 97.374.726,00 € 96.536.741,00 € 96.400.934,00 € 96.030.000,00 € 94.433.831,00 € 89.350.000,00 € 86.562.175,00 € 86.521.000,00 € 85.440.605,00 € 85.021.025,00 € 81.316.554,00 € 81.112.589,00 € 80.263.724,00 € 79.415.142,00 € 75.982.000,00 € 75.534.831,00 € 73.550.000,00 € 73.102.761,00 € 72.984.750,00 € 71.686.156,00 € 71.369.874,00 € 70.194.777,00 € 69.975.770,00 € 69.210.696,00 € 68.952.000,00 € 68.817.912,00 € 68.581.268,00 € 67.721.356,00 € 67.416.000,00 € 67.351.062,00 €

PRE-TAX INCOME 2015

-12.913.973,00 € 9.526.464,00 € -2.412,00 € -18.547.000,00 € 1.511.072,00 € 2.395.000,00 € -15.909.646,00 € -3.203.460,00 € 8.168.251,00 € 5.224.389,00 € 922.572,00 € -24.371.480,00 € 757.362,00 € 109.000,00 € 497.000,00 € 95.513,00 € 3.012.237,00 € -3.933.737,00 € -19.078.970,00 € 279.082,00 € 2.353.000,00 € -228.377,00 € 5.402.000,00 € 1.980.191,00 € 1.357.959,00 € 10.485.667,00 € 2.063.000,00 € 4.758.177,00 € -8.519.529,00 € -940.000,00 € -1.225.023,00 € 4.721.617,00 € 706.957,00 € 4.979.127,00 € 4.370.026,00 € 2.022.445,00 € 2.185.772,00 € -19.363.155,00 € 4.344.789,00 € 4.741.000,00 € 6.218.826,00 € -52.517.531,00 € 11.948.613,00 € 6.575.000,00 € 2.019.343,00 €

PRE-TAX INCOME 2016

-5.454.717,00 € -12.841.864,00 € -2.427.074,00 € 425.000,00 € 4.901.039,00 € 1.349.000,00 € 7.378.764,00 € -1.198.850,00 € 15.063.851,00 € 5.616.564,00 € 6.632.162,00 € -15.885.308,00 € -1.343.642,00 € -5.219.000,00 € -4.211.000,00 € 2.390.866,00 € 4.586.228,00 € 87.837,00 € -3.250.000,00 € 2.878.654,00 € 940.000,00 € 3.200.815,00 € 4.086.000,00 € 1.541.441,00 € -193.041,00 € 11.247.655,00 € 1.976.385,00 € 11.478.423,00 € -7.667.727,00 € 1.721.000,00 € 43.516,00 € 2.610.000,00 € 545.317,00 € 5.305.075,00 € 6.228.171,00 € -1.266.531,00 € 4.906.407,00 € -21.465.601,00 € 4.069.374,00 € 4.662.000,00 € 5.717.862,00 € -40.393.657,00 € 14.555.166,00 € 8.175.000,00 € 3.070.173,00 €

I 99 I

CREATIVE GREECE 2018

EXPORT LEADERS

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES TURNOVER 2015

89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130

I 100 I

ARABATZIS MICHAIL S.A. ΚΡΙ ΚΡΙ S.A. KARATZIS S.A. F.H.L. I. KIRIAKIDIS MARBLE & GRANITES S.A. M. J. MAILLIS S.A. SPECIFAR ΑΒΕΕ BIOMAR HELLENIC Α.Β.Ε.Ε.Ι.

B & F CLOTHING S.A. PAVLIDIS MARBLE GRANITE S.A. ALUMAN S.A. D. NOMIKOS S.A. K. V. MARKOU S.A. INTRACOM DEFENSE ELECTRONICS S.A. IRIDA S.A. MELISSA KIKIZAS FOOD PRODUCT S.A. MORNOS S.A. POLISAN HELLAS S.A. KARAMOLEGOS BAKERY S.A. VENUS GROWERS AGRICULTURAL COOPERATIVE OF VEROIA LITTLE ACRE MILK FARM S.A. UNI-PHARMA S.A. MISSIRIAN S.A. PAVLIDES S.A. ANDROMEDA S.A. CH. ROKAS METALPRODUCTS ARKADIAS S.A VIVECHROM DR. STEFANOS D. PATERAS S.A. GALAXIDI MARINE FARM S.A. SYNGENTA HELLAS S.A. MACEDONIAN PAPER MILLS S.A. KRONOS S.A. AGRO.VIM. S.A BALAKANAKIS BROS S.A. PERSEUS SPECIALTY FOOD PRODUCTS S.A. EUROCHARTIKI S.A. HELLENIC CATERING S.A. THRACE PLASTICS PACK S.A. SEKE S.A. EVGA S.A. KORRES NATURAL PRODUCTS S.A. PHARMATHEN INTERNATIONAL S.A. SEPTONA S.A. SCHUR FLEXIBLES ABR S.A.

TURNOVER 2016

PRE-TAX INCOME 2015

PRE-TAX INCOME 2016

61.609.000,00 € 66.950.798,00 € 62.107.000,00 € 42.135.807,00 € 74.777.189,00 € 69.652.092,00 € 53.699.991,00 € 56.421.774,00 € 50.511.355,00 € 67.345.527,00 € 77.419.861,00 € 61.052.703,00 € 49.663.812,00 € 48.218.947,00 € 58.733.389,00 € 52.957.000,00 € 51.095.000,00 € 59.934.664,00 €

67.179.000,00 € 66.570.168,00 € 65.853.000,00 € 65.573.616,00 € 65.075.049,00 € 64.861.658,00 € 64.429.985,00 € 62.805.612,00 € 62.220.000,00 € 61.332.347,00 € 59.114.373,00 € 57.812.113,00 € 57.437.217,00 € 57.160.000,00 € 56.729.890,00 € 56.300.000,00 € 56.010.000,00 € 55.570.000,00 €

8.370.000,00 € 4.294.909,00 € 9.087.000,00 € 10.147.264,00 € -5.152.727,00 € 5.205.083,00 € 2.601.854,00 € 4.687.146,00 € 19.091.935,00 € 690.165,00 € 2.451.499,00 € 4.419.298,00 € 973.327,00 € 3.384.001,00 € 3.154.719,00 € -720.000,00 € -3.086.000,00 € 1.055.988,00 €

8.258.000,00 € 8.161.529,00 € 11.024.000,00 € 27.707.236,00 € -3.366.887,00 € 8.452.314,00 € 7.717.463,00 € 7.116.245,00 € 31.100.000,00 € 1.520.535,00 € 757.417,00 € 1.352.613,00 € 1.598.913,00 € 3.490.000,00 € 5.685.483,00 € 1.720.000,00 € -1.268.000,00 € -6.280.000,00 €

56.362.341,00 €

55.233.633,00 €

291.780,00 €

223.444,00 €

49.225.073,00 € 48.986.797,00 € 42.798.524,00 € 60.636.569,00 € 53.213.679,00 € 54.483.000,00 € 44.516.069,00 € 44.657.260,00 € 48.342.025,00 € 51.708.297,00 € 49.893.799,00 € 47.466.313,00 € 42.276.761,00 € 57.358.197,00 € 41.498.531,00 € 45.407.000,00 € 41.595.486,00 € 23.564.741,00 € 32.622.312,00 € 48.038.654,00 € 38.242.630,00 € 40.988.046,00 € 48.990.213,00 €

55.104.482,00 € 54.435.982,00 € 53.632.220,00 € 53.606.486,00 € 53.570.986,00 € 53.269.000,00 € 51.534.896,00 € 51.442.620,00 € 49.642.211,00 € 49.301.169,00 € 48.022.323,00 € 47.785.665,00 € 47.545.872,00 € 47.457.519,00 € 47.252.389,00 € 46.180.000,00 € 46.140.000,00 € 45.461.590,00 € 45.160.000,00 € 44.883.265,00 € 44.834.894,00 € 44.712.803,00 € 44.352.798,00 €

1.822.322,00 € 4.715.961,00 € -3.115.565,00 € 7.852.652,00 € 2.988.269,00 € 38.368.000,00 € 6.735.706,00 € 627.530,00 € 1.371.892,00 € 254.234,00 € 4.311.225,00 € 160.677,00 € 6.953.037,00 € 3.819.611,00 € 850.543,00 € -1.482.000,00 € 2.238.309,00 € 428.983,00 € -5.580.164,00 € 1.438.499,00 € 5.703.957,00 € 2.847.051,00 € 3.337.669,00 €

2.279.846,00 € 1.019.354,00 € 558.212,00 € 2.570.582,00 € 655.537,00 € 31.056.000,00 € 8.936.067,00 € 1.170.411,00 € 1.421.785,00 € 518.076,00 € 1.371.200,00 € 761.287,00 € 6.711.298,00 € 903.343,00 € 1.663.911,00 € 562.000,00 € 3.710.000,00 € 867.679,00 € 460.000,00 € -17.308,00 € 1.898.633,00 € 2.427.304,00 € 3.995.742,00 €

I 101 I

CREATIVE GREECE 2018

EXPORT LEADERS

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES TURNOVER 2015

131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173

I 102 I

FITCO S.A. CHITOS S.A. NEWREST HELLAS S.A. MEGARA RESINS - FANIS S.A. ANASTASIOS FANIS S.A. UNILEVER - KNORR S.A. SKL S.A. LUNCHEON MEAT EVROU S.A. P. G. NIKAS S.A. KORONAKIS D. S.A. KAMARIDIS GLOBAL WIRE SA EPIRUS S.A. FREZYDERM S.A. ELANTHI S.A. DEAS S.A. MAXI S.A. PALIRRIA S.A. SYLPHUR HELLAS S.A. FRESKOT KONTOVEROS S.A. GRECIAN MAGNESITE S.A. PAPAFILIS MILLS S.A. HELLAS GOLD S.A. EPALME S.A. TUPPERWARE HELLAS S.A. HELLENIC QUARRIES S.A. ARIVIA S.A. KONSTANTOPOULOS S.A. "OLYMP" LINDE HELLAS LTD FIBRAN D. ANASTASIADIS S.A. EL PACK S.A. I. OUZOUNOPOULOS FLOURMILLS THRAKIS S.A. EURIMAC S.A. Η.Β. BODY S.A. DRUCKFARBEN HELLAS S.A. MILLS OF CRETE S.A. PROCOS S.A. KS COTTON S.A. GF ENERGY S.A. GAP PHARMACEUTICAL S.A. ASPIS S.A C. DEDES SELECTED TEXTILES S.A. ROLCO VIANIL S.A. GENEPHARM S.A. HELLENICA S.A.

63.402.176,00 € 43.352.237,00 € 40.503.545,00 € 42.306.409,00 € 14.920.470,00 € 38.912.715,00 € 39.336.150,00 € 45.419.735,00 € 44.625.237,00 € 39.308.728,00 € 34.784.024,00 € 33.261.829,00 € 6.993.456,00 € 40.722.600,00 € 39.122.911,00 € 39.698.241,00 € 44.753.765,00 € 38.751.726,00 € 37.135.411,00 € 46.483.616,00 € 34.368.085,00 € 41.933.187,00 € 43.989.566,00 € 23.806.755,00 € 10.295.694,00 € 38.411.706,00 € 35.124.203,00 € 29.474.444,00 € 32.838.736,00 € 31.176.300,00 € 37.256.247,00 € 35.969.704,00 € 40.064.726,00 € 34.544.468,00 € 37.604.047,00 € 28.180.803,00 € 40.084.494,00 € 32.905.588,00 € 34.830.923,00 € 39.509.433,00 € 33.480.204,00 € 33.324.052,00 € 30.642.735,00 €

TURNOVER 2016

43.732.599,00 € 43.517.568,00 € 43.183.920,00 € 42.828.712,00 € 42.500.206,00 € 42.139.998,00 € 41.822.234,00 € 41.801.683,00 € 41.747.457,00 € 41.145.059,00 € 40.253.781,00 € 39.806.527,00 € 39.755.576,00 € 39.520.000,00 € 39.113.795,00 € 39.026.967,00 € 38.663.067,00 € 38.610.000,00 € 38.582.767,00 € 38.571.129,00 € 38.557.101,00 € 38.463.144,00 € 38.369.388,00 € 38.169.941,00 € 37.943.442,00 € 37.810.000,00 € 37.066.081,00 € 36.830.346,00 € 36.827.158,00 € 36.746.964,00 € 36.501.919,00 € 36.207.263,00 € 35.804.522,00 € 35.601.788,00 € 35.367.696,00 € 35.325.676,00 € 34.962.350,00 € 34.551.334,00 € 34.456.024,00 € 34.268.897,00 € 34.196.026,00 € 34.160.395,00 € 33.773.800,00 €

PRE-TAX INCOME 2015

-3.097.320,00 € 3.063.789,00 € 5.874.213,00 € 3.121.813,00 € 1.197.700,00 € -192.218,00 € 5.586.939,00 € -18.216.395,00 € 13.025.880,00 € 3.711.373,00 € 2.405.846,00 € 5.149.662,00 € 1.599.554,00 € 5.909.127,00 € 1.225.504,00 € 6.975.598,00 € 852.948,00 € -464.912,00 € -521.203,00 € 1.734.920,00 € -96.147.528,00 € 356.379,00 € 5.980.194,00 € 1.103.086,00 € -1.323.581,00 € 5.386.770,00 € -1.186.802,00 € 4.261.228,00 € 571.947,00 € 367.772,00 € 3.044.094,00 € 8.073.342,00 € 2.571.631,00 € 88.304,00 € 2.523.077,00 € 2.935.020,00 € 845.825,00 € 5.047.968,00 € 1.636.838,00 € -2.992.647,00 € -943.108,00 € 1.867.287,00 € 2.842.112,00 €

PRE-TAX INCOME 2016

-2.559.616,00 € 3.288.363,00 € 6.907.371,00 € 5.543.457,00 € 1.473.949,00 € -5.213.625,00 € 2.689.116,00 € -7.027.167,00 € 12.554.491,00 € 4.695.194,00 € 2.777.519,00 € 6.170.559,00 € 2.300.055,00 € 4.670.000,00 € 2.428.483,00 € 5.757.551,00 € 258.770,00 € 30.000,00 € -538.312,00 € 4.569.837,00 € -29.175.246,00 € -81.324,00 € 3.355.665,00 € 1.992.574,00 € 4.769.297,00 € 5.340.000,00 € -1.897.937,00 € 6.605.695,00 € 174.829,00 € 34.917,00 € 6.757.832,00 € 7.895.624,00 € 1.739.888,00 € 120.886,00 € 871.488,00 € 1.505.239,00 € 1.414.195,00 € 2.613.041,00 € 1.003.273,00 € -4.810.188,00 € -773.211,00 € 2.423.962,00 € 3.501.547,00 €

9

PLASTIC INDUSTRY PRODUCTION AND SPECIAL CONSTRUCTION TEKNOGLAS XT/ HI TEKNOGLAS FROST TEKNOCARB PC:

PVC: TEKNOGLAS FOS:

FLEX DOOR:

.

TEKNOCARB AC:

TEKNOGLAS CRYSTALIZE: TEKNOGLUE

Acrylic extruded sheets from 2mm to 20mm thickness.Our acrylic sheets have dimensions 2050mm x 3050mm,except special orders.

We provide a variety of colours.

Acrylic frost sheets .

Polycarbonate extruded sheets from 2mm to 12mm thick. Our polycarbonate sheets have dimensions 2050mm x 3050mm, except special orders. We provide a variety of colors.

FLOORING SHEET / PROFILE AND PIPES Speciality Teknoglas sheets for efficient lighting applications combined with LEDs. Speciality products for edge lighting and backlighting .

Door - curtain of transparent PVC with UV stabilized for extra weather resistance.

Used in factories, food factories They are available in flat transparent sheets 12,15,18 and 20mm thickness. Sheets 2000x3050 mm.

TEKNOGLAS crystallize is the product line with a relief SOLID acrylic sheets.

Special glue for acrylic sheets.

New PRINTING facility installed for high quality print (up to 2880dpi) on all of our products.

I 103 I

CREATIVE GREECE 2018

EXPORT LEADERS

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES TURNOVER 2015

174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201

TURNOVER 2016

PRE-TAX INCOME 2015

PRE-TAX INCOME 2016

34.008.237,00 € 31.208.815,00 € 32.984.060,00 € 30.003.513,00 € 34.069.705,00 € 31.302.163,00 € 41.707.754,00 € 34.478.202,00 € 30.697.345,00 € 34.881.444,00 € 28.199.599,00 € 29.545.315,00 € 28.030.684,00 € 28.315.000,00 € 13.454.000,00 € 29.769.755,00 € 28.777.000,00 € 28.655.273,00 € 24.995.692,00 € 29.259.939,00 € 31.622.588,00 € 24.204.595,00 € 26.690.852,00 € 26.561.253,00 € 12.653.021,00 € 27.506.230,00 € 27.020.877,00 € 27.421.000,00 €

33.575.675,00 € 33.111.951,00 € 32.894.687,00 € 31.756.659,00 € 31.724.004,00 € 31.563.546,00 € 31.356.181,00 € 31.348.869,00 € 31.189.946,00 € 30.814.214,00 € 30.813.956,00 € 30.609.212,00 € 30.544.472,00 € 30.525.000,00 € 30.502.000,00 € 30.088.115,00 € 30.010.000,00 € 29.581.073,00 € 29.485.840,00 € 29.445.325,00 € 29.390.000,00 € 29.085.843,00 € 29.007.000,00 € 28.754.898,00 € 28.747.465,00 € 28.723.242,00 € 27.906.949,00 € 27.823.000,00 €

1.321.025,00 € -383.995,00 € 2.597.433,00 € 3.467.093,00 € 2.207.286,00 € 252.853,00 € 5.676.516,00 € -4.427.570,00 € 346.242,00 € -2.594.264,00 € 16.611.785,00 € 277.264,00 € 748.240,00 € -2.942.000,00 € 176.000,00 € -2.061.165,00 € -1.720.000,00 € 32.232,00 € -5.414.124,00 € 263.861,00 € -221.761,00 € 1.650.656,00 € 3.194.844,00 € 291.356,00 € -3.283.531,00 € 5.474.499,00 € 302.421,00 € 987.000,00 €

2.813.844,00 € -90.531,00 € 3.620.583,00 € 2.738.117,00 € 1.409.842,00 € 592.110,00 € 5.089.252,00 € -5.624.919,00 € 2.275.475,00 € -1.080.030,00 € 14.862.386,00 € -134.210,00 € 721.224,00 € -3.419.000,00 € 2.527.000,00 € -1.128.106,00 € 5.072.000,00 € 1.350.527,00 € -8.915.752,00 € 271.370,00 € -260.000,00 € 874.012,00 € 3.514.267,00 € 113.120,00 € -2.421.832,00 € 9.830.674,00 € 878.544,00 € 1.971.000,00 €

S.A. HELLENIC MECHANICAL 202 EMEK CONSTRUCTIONS AND EQUIPMENT SA

14.045.312,00 €

27.819.007,00 €

933.298,00 €

1.942.641,00 €

203 ZOONOMI S.A. 204 ELMIN BAUXITE S.A. 205 EVROFARMA S.A. AGRICULTURAL CORPORATE COLLABORATION S.A. 206 AL.M.ME 207 FRIGOGLASS S.A. 208 ALUMINCO S.A. 209 ARI S.A. 210 ALFA WOOD S.A. 211 VAMVALIS FOODS S.A. 212 EUROPA PROFIL ALUMINIUM SA. 213 GLAROS S.A. 214 ELBAK GREEK CANNING INDUSTRY S.A.

28.458.976,00 € 12.067.510,00 € 28.625.000,00 €

27.811.409,00 € 27.787.874,00 € 27.633.000,00 €

293.633,00 € -2.744.328,00 € 651.000,00 €

358.299,00 € -5.934.473,00 € 324.000,00 €

30.239.646,00 €

27.600.889,00 €

16.045,00 €

3.325,00 €

24.714.000,00 € 24.572.673,00 € 23.753.259,00 € 27.707.266,00 € 23.180.000,00 € 22.052.864,00 € 24.734.049,00 € 26.958.767,00 €

27.404.000,00 € 27.396.845,00 € 27.164.756,00 € 27.146.853,00 € 27.130.000,00 € 27.067.693,00 € 27.009.030,00 € 26.811.002,00 €

-12.252.000,00 € 60.814,00 € 992.453,00 € -5.908.612,00 € 60.000,00 € 1.515.648,00 € 6.318.874,00 € -4.661.904,00 €

-22.054.000,00 € -556.243,00 € 2.042.168,00 € -8.262.532,00 € 280.000,00 € 1.607.390,00 € 8.201.397,00 € -2.465.852,00 €

I 104 I

KEPENOU MILLS S.A. TOSOH HELLAS S.A. MARMOR SG S.A. LOUX MARLAFEKAS S.A. IKTINOS HELLAS S.A. EFTHYMIADIS K&NE S.A. BOLTON HELLAS S.A. KATHEMIRINI EDITIONS S.A. VITEX - YANNIDIS BROS S.A INFORM P. LYKOS S.A. PPC RENEWABLES S.A. ALINDA VELCO S.A. DEL MONTE HELLAS S.A. LAVIPHARM S.A. HELLENIC BREWERY OF ATALANTI S.A. NUTRIA S.A. OLYMPIC CATERING S.A. VIOSER S.A. HALYPS BUILDING MATERIALS S.A. ΖΑΝΑΕ NIKOGLOU BAKERY YEAST SA. RESILUX HELLAS S.A. AGRICULTURAL COOPERATIVES UNION S.A. KOUKOUTARIS A. ALFA S.A GREEK WINE CELLARS - KOURTAKI S.A. SUNLIGHT RECYCLING S.A. ARGO S.A. EUREKA HELLAS S.A. GEROLYMATOS INTERNATIONAL S.A.

I 105 I

CREATIVE GREECE 2018

EXPORT LEADERS

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES TURNOVER 2015

215 KONVA S.A 216 ANEZOULAKI BROS FIERATEX S.A. 217 MEGAS YEEROS S.A. 218 EVIOP TEMPO S.A. S.A.METALLURGICAL,TECHNICAL, 219 ΕΚΜΕ INDUSTRIAL AND TRADING COMPANY 220 KALAMARIKIS EMM. KALAS S.A. 221 KARAGEORGIOU K. BROS "3ALFA" S.A. 222 AGRINO S.A. 223 VETA S.A. 224 AKRITAS S.A. 225 AGRIFREDA S.A. 226 COOPER S.A. 227 EXPRESS PUBLISHING S.A. 228 KAPACHIM S.A. 229 MULTY FOAM S.A. 230 MITSOPOULOS FARM S.A. 231 DAIOS PLASTICS S.A. 232 EOLIKI ENERGEIAKI S.A. 233 VEPAL S.A. 234 HELLENIC JUICES S.A. 235 EMELKO S.A. 236 ROUSSAS S.A. 237 KOUKAKIS FARM S.A. 238 BIZIOS S.A. 239 NICOS GLEOUDIS KAVEX S.A. 240 DANAIS S.A. 241 VIOKYT PACKAGING SA 242 SIOURAS S.A. 243 KREKA S.A. 244 VIS SA 245 FORKYS FISHING FARM S.A. 246 KEBE S.A. 247 SIDMETAL S.A. 248 CHALKIDIKI FLOUR MILLS S.A. 249 MABIZ S.A. 250 ELDON'S S.A. 251 ERLIKON WIRE PROCESSING S.A. 252 PAKO AN. VL. KOLIOPOULOS S.A. 253 ATTICA PUBLICATIONS S.A. 254 F.A. MOYRIKIS S.A. 255 EUROFILM MANTZARIS S.A. 256 CHATZIGEORGIOU S.A.

I 106 I

TURNOVER 2016

PRE-TAX INCOME 2015

PRE-TAX INCOME 2016

29.549.378,00 € 26.003.750,00 € 24.494.718,00 € 25.992.828,00 €

26.500.000,00 € 26.449.919,00 € 26.430.000,00 € 26.335.948,00 €

666.773,00 € -751.699,00 € 2.452.961,00 € 987.383,00 €

660.000,00 € -1.458.292,00 € 2.040.000,00 € 1.122.141,00 €

20.078.215,00 €

26.334.041,00 €

475.366,00 €

23.831,00 €

28.711.000,00 € 25.775.359,00 € 27.505.311,00 € 24.730.060,00 € 20.446.691,00 € 22.224.244,00 € 17.864.205,00 € 26.037.220,00 € 24.217.987,00 € 24.014.469,00 € 23.196.040,00 € 23.837.210,00 € 25.820.000,00 € 17.066.770,00 € 26.359.200,00 € 24.800.136,00 € 21.891.213,00 € 21.251.321,00 € 25.329.535,00 € 26.164.210,00 € 24.345.614,00 € 22.436.240,00 € 21.188.263,00 € 23.839.568,00 € 21.557.000,00 € 24.616.787,00 € 22.932.151,00 € 21.157.088,00 € 21.344.043,00 € 27.923.870,00 € 18.325.475,00 € 20.274.857,00 € 21.105.985,00 € 24.339.573,00 € 18.708.213,00 € 19.053.770,00 € 25.376.455,00 €

26.192.000,00 € 26.190.000,00 € 26.135.988,00 € 25.951.724,00 € 25.895.841,00 € 25.886.879,00 € 25.800.000,00 € 25.677.824,00 € 25.267.274,00 € 25.247.479,00 € 25.222.356,00 € 25.195.440,00 € 25.110.000,00 € 24.730.466,00 € 24.672.112,00 € 24.361.477,00 € 24.140.000,00 € 24.000.074,00 € 23.967.392,00 € 23.921.044,00 € 23.660.482,00 € 23.290.000,00 € 23.200.000,00 € 22.925.750,00 € 22.853.756,00 € 22.780.126,00 € 22.780.000,00 € 22.727.731,00 € 22.457.912,00 € 22.105.489,00 € 21.848.215,00 € 21.679.187,00 € 21.340.000,00 € 21.226.222,00 € 21.194.675,00 € 20.709.544,00 € 20.546.881,00 €

595.000,00 € 387.464,00 € 107.296,00 € -97.104,00 € -12.264.956,00 € 2.536.692,00 € 2.974.053,00 € 2.267.413,00 € 1.890.661,00 € 4.637.141,00 € 265.148,00 € 421.620,00 € 11.260.000,00 € 2.328.773,00 € 4.577.604,00 € 319.845,00 € 712.657,00 € 414.278,00 € 799.752,00 € 3.346.910,00 € 3.256.938,00 € 1.233.790,00 € 486.151,00 € -2.961.708,00 € -1.997.427,00 € 937.761,00 € 1.165.137,00 € 1.273.226,00 € 169.898,00 € 5.619.575,00 € 70.928,00 € -977.268,00 € 299.727,00 € -1.492.446,00 € 607.279,00 € 495.532,00 € 245.292,00 €

-799.000,00 € 1.830.000,00 € -1.584.805,00 € -139.725,00 € -8.439.008,00 € 3.509.624,00 € 6.770.000,00 € 3.689.723,00 € 1.107.045,00 € 5.692.639,00 € 285.344,00 € 1.178.360,00 € 10.770.000,00 € 3.299.936,00 € 4.695.779,00 € 372.260,00 € 440.000,00 € 2.368.463,00 € 391.697,00 € 2.882.880,00 € 3.378.931,00 € 1.920.000,00 € -210.000,00 € -4.469.153,00 € 349.535,00 € 177.990,00 € 2.120.000,00 € 715.114,00 € 264.207,00 € 3.990.246,00 € 704.106,00 € -508.107,00 € 20.000,00 € 350.115,00 € 1.049.370,00 € 552.080,00 € -1.140.660,00 €

CREATIVE GREECE 2018

EXPORT LEADERS

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES TURNOVER 2015

257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298

ELINOIL - HELLENIC PETROLEUM COMPANY S.A. TSETI E. & I PHARMACEUTICAL LABS S.A. CHATZIIOANNOU S.A. HELLAFARM S.A. ASTIR VITOGIANNIS BROS S.A. HOTOS S.A. ZIKO S.A. G.N. FRANGISTAS S.A. SIARKOS S.A. MEDIA STROM S.A. TRIKKI S.A. KYKNOS S.A. GREEK CANNING COMPANY VITOM S.A. DELPHI-DISTOMON S.A. IONIKI SFOLIATA S.A. FRACASSO HELLAS S.A. MACEDONIAN THRACE BREWERY S.A. APOLLONION S.A. MARIS POLYMERS S.A. HELLENIC DEFENCE VEHICLE SYSTEMS S.A. PERSONAL CARE S.A. CAVINO WINERY & DISTILLERY S.A. PALLAS S.A. CONFECTIONS VARVARESSOS S.A. EUROPEAN SPINNING MILLS OMIROS SA. VLACHOS BROS S.A. ELVIDA FOODS S.A. LARIPLAST S.A. PLASTIC INDUSTRY AMEKON S.A. EXARHOS S.A. KAVALA OIL S.A. PAPAYIANNIS BROS S.A. AGRICULTURAL COOPERATIVES UNION NAXOS S.A. CANA PHARMACEUTICAL LABS S.A. ATTIKI BEE CULTURING CO. - ALEX PITTAS S.A. DAVOUTIS MAVRIDOPOULOS S.A. PAPOUTSANIS S.A. TOTTIS FOODS INTERNATIONAL S.A. CHRISTODOULOU BROS S.A. FTHIOTIS PAPERMILL S.A. BITSAKOS AQUACULTURE S.A.

20.829.607,00 € 17.626.981,00 € 17.670.092,00 € 18.310.000,00 € 22.012.422,00 € 19.189.477,00 € 17.946.388,00 € 16.406.258,00 € 18.234.899,00 € 21.585.000,00 € 19.130.820,00 € 19.731.745,00 € 19.722.148,00 € 19.448.000,00 € 16.772.433,00 € 9.796.066,00 € 17.930.005,00 € 15.434.981,00 € 17.643.257,00 € 26.841.102,00 € 16.734.260,00 € 17.336.000,00 € 19.296.316,00 € 18.700.189,00 € 16.273.149,00 € 17.611.233,00 € 18.113.105,00 € 20.177.052,00 € 18.412.312,00 € 16.635.450,00 € 14.857.884,00 € 22.397.925,00 € 16.112.589,00 € 17.312.714,00 € 21.135.539,00 € 18.775.275,00 € 17.573.402,00 € 15.614.524,00 € 17.452.183,00 € 21.593.887,00 € 16.359.306,00 € 10.855.647,00 €

TURNOVER 2016

20.524.088,00 € 20.452.338,00 € 20.443.684,00 € 20.340.000,00 € 20.301.040,00 € 19.967.450,00 € 19.839.449,00 € 19.795.498,00 € 19.780.000,00 € 19.753.000,00 € 19.710.000,00 € 19.636.182,00 € 19.625.536,00 € 19.614.000,00 € 19.470.000,00 € 19.459.398,00 € 19.373.761,00 € 19.247.374,00 € 19.222.439,00 € 19.220.000,00 € 19.218.345,00 € 19.040.000,00 € 19.002.460,00 € 18.971.182,00 € 18.922.818,00 € 18.900.527,00 € 18.850.000,00 € 18.796.556,00 € 18.690.938,00 € 18.638.433,00 € 18.535.683,00 € 18.535.388,00 € 18.498.294,00 € 18.353.670,00 € 18.198.336,00 € 18.071.638,00 € 18.068.598,00 € 18.032.127,00 € 18.007.618,00 € 17.809.251,00 € 17.648.748,00 € 17.564.344,00 €

PRE-TAX INCOME 2015

PRE-TAX INCOME 2016

863.415,00 € 1.305.260,00 € 769.475,00 € -270.000,00 € 5.413.503,00 € 2.622.625,00 € 2.304.502,00 € -219.695,00 € 856.093,00 € 1.575.000,00 € 114.650,00 € 296.891,00 € -14.359,00 € 2.584.000,00 € 1.375.123,00 € -10.546,00 € 1.562.323,00 € 295.585,00 € 4.502.850,00 € 4.643.323,00 € 439.863,00 € 515.000,00 € 2.288.985,00 € -3.078.387,00 € 446.040,00 € 656.860,00 € 522.522,00 € 447.381,00 € -119.003,00 € -1.190,00 € 1.030.852,00 € 22.696,00 € 495.658,00 € 352.106,00 € -1.108.108,00 € -630.879,00 € 293.001,00 € 54.592,00 € 511.112,00 € 827.859,00 € 1.239.095,00 € 361.072,00 €

1.397.801,00 € 2.519.869,00 € 1.203.134,00 € 360.000,00 € 4.366.687,00 € 2.470.548,00 € 2.412.912,00 € 296.917,00 € 550.000,00 € 110.000,00 € -60.000,00 € 234.484,00 € 41.240,00 € 2.482.000,00 € 1.920.000,00 € 108.949,00 € 2.403.617,00 € 30.170,00 € 4.440.306,00 € 2.770.000,00 € 437.781,00 € 1.190.000,00 € 1.931.489,00 € -1.962.974,00 € 780.742,00 € 889.851,00 € 530.000,00 € 2.556.467,00 € 49.977,00 € -291.387,00 € 1.014.570,00 € -1.406.019,00 € 2.633.966,00 € 165.107,00 € -4.610.475,00 € -416.682,00 € 95.283,00 € 119.727,00 € 531.551,00 € 1.210.925,00 € 1.911.062,00 € 2.584.690,00 €

I 107 I

CREATIVE GREECE 2018

EXPORT LEADERS

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES TURNOVER 2015

299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340

I 108 I

BIROS GREEK MARBLES S.A. BELAS FILOTAS & SON S.A. MARRAS BROS MILLS S.A. NEOGAL S.A. MEVACO S.A. KLIMATECHNIKI S.A. E. MALAMATINAS & SON S.A. NOE CONSTRUCTIONS S.A. DOPPLER S.A. DUROSTICK S.A. HAIDEMENOS S.A. ANFARM HELLAS S.A. VECHRO S.A. K. SARANTOPOULOS MILLS S.A. WONDERPLANT S.A. BEAL S.A. NIKOLOPOULOI BROS FARM S.A. IMATHIA COTTON S.A. KLEFER S.A. ROSSANA FRUITS LTD ALFA-WOOD PINDOS S.A. VIOKOT S.A. PIPEWORKS L. TZIRAKIAN PROFIL S.A. TH. MAKRIS METALLEMPORIKI S.A. ΝΕΟΚΕΜ S.A. OLYMPIA ELECTRONICS S.A. DIAXON S.A. DELFI S.A. KOTRONIS K. PLASTICS S.A PAGGAEA S.A. PAPERPACK TSOUKARIDIS I. S.A. EVOL S.A. VIOZOIS S.A TOTTIS PACK S.A. LEFKOSIDIROURGIA KAVALAS S.A. LAKONIKI FOODS S.A. FRUCTA UNION S.A. NIKZAS S.A. SOULIS S.A. HELLENIC WIRE COMPANY S.A. TYROKOMIKI AMFILOCHIAS BOUTSOLI S.A.

15.107.078,00 € 15.937.263,00 € 16.793.371,00 € 18.498.249,00 € 17.711.036,00 € 17.556.202,00 € 12.104.361,00 € 18.962.354,00 € 15.793.869,00 € 15.329.092,00 € 18.670.849,00 € 17.556.960,00 € 16.664.445,00 € 16.245.274,00 € 16.207.632,00 € 17.827.034,00 € 15.274.855,00 € 14.980.927,00 € 18.761.839,00 € 16.706.937,00 € 14.081.040,00 € 13.764.202,00 € 57.035.067,00 € 13.979.253,00 € 16.065.871,00 € 14.330.241,00 € 14.264.706,00 € 15.498.000,00 € 17.528.307,00 € 12.791.530,00 € 21.648.454,00 € 14.136.460,00 € 15.495.544,00 € 15.905.280,00 € 14.560.011,00 € 13.760.009,00 € 12.490.588,00 € 14.437.553,00 € 13.136.543,00 € 14.373.002,00 € 12.480.879,00 € 14.681.225,00 €

TURNOVER 2016

17.522.964,00 € 17.413.197,00 € 17.335.112,00 € 17.305.829,00 € 17.231.191,00 € 17.230.119,00 € 17.211.691,00 € 17.180.316,00 € 17.118.475,00 € 17.078.768,00 € 17.060.638,00 € 17.057.806,00 € 16.832.998,00 € 16.831.170,00 € 16.809.537,00 € 16.588.476,00 € 16.439.760,00 € 16.430.335,00 € 16.326.274,00 € 16.321.769,00 € 16.231.661,00 € 16.231.225,00 € 15.807.540,00 € 15.792.099,00 € 15.782.896,00 € 15.765.012,00 € 15.667.745,00 € 15.558.000,00 € 15.552.450,00 € 15.386.960,00 € 15.321.021,00 € 15.247.340,00 € 15.237.434,00 € 15.044.503,00 € 14.855.194,00 € 14.840.000,00 € 14.803.132,00 € 14.716.048,00 € 14.570.082,00 € 14.523.024,00 € 14.437.096,00 € 14.436.240,00 €

PRE-TAX INCOME 2015

PRE-TAX INCOME 2016

-35.132,00 € 2.058.632,00 € 192.186,00 € 132.373,00 € 788.315,00 € -1.307.866,00 € 331.630,00 € -1.269.473,00 € 272.431,00 € -560.720,00 € -440.289,00 € -1.791.263,00 € 1.699.461,00 € 886.397,00 € -691.533,00 € 2.790.800,00 € 4.054.652,00 € 428.579,00 € 842.348,00 € 1.811.980,00 € 266.850,00 € -1.104.976,00 € -444.134,00 € -1.312.937,00 € 1.779.800,00 € 1.693.461,00 € 1.943.551,00 € 6.036.000,00 € 83.657,00 € 1.904.011,00 € 19.786,00 € 1.834.250,00 € 1.863.827,00 € 601.791,00 € 177.182,00 € 1.902.277,00 € -1.172.042,00 € 159.974,00 € 794.123,00 € -303.779,00 € 403.444,00 € 1.147.534,00 €

-41.500,00 € 3.826.002,00 € -423.366,00 € 206.202,00 € 695.917,00 € -378.273,00 € 444.271,00 € -764.299,00 € 156.619,00 € -38.016,00 € 8.509,00 € -1.793.882,00 € 1.813.984,00 € 952.124,00 € -133.059,00 € 2.883.595,00 € 3.777.580,00 € 465.012,00 € 385.899,00 € 1.691.943,00 € 475.849,00 € -2.189.486,00 € 212.120,00 € -371.497,00 € 1.409.868,00 € 2.971.289,00 € 2.868.129,00 € 5.851.000,00 € -973.863,00 € 2.500.047,00 € 7.386,00 € 1.931.460,00 € 1.393.685,00 € 611.604,00 € 186.446,00 € 2.460.000,00 € 255.280,00 € 135.883,00 € 1.299.652,00 € -145.547,00 € 122.293,00 € 638.374,00 €

CREATIVE GREECE 2018

EXPORT LEADERS

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES TURNOVER 2015

341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382

ZAKOMA S.A. AGRIS S.A. THRACE PLASTICS S.A. BELLE MEAT LTD AGROFRUT HELLAS VASSILIS PANTAZIS S.A. NORDIA S.A. MONDI PACKAGING THESSALONIKI S.A. CRENDIN S.A. MINERVA BROS I. & V. LADENIS S.A. LAVIPHARM HELLAS S.A. OSCAR S.A. CHROTEX S.A. TSATSOULI BROS ROYAL S.A. NEF - NEF S.A. DROMEAS PAPANAGIOTOU S.A. GREEN COLA HELLAS S.A. GAEA FOODS S.A. PROVERTIA S.A. TOI & MOI S.A. METRON S.A. VAKREL S.A. MITROSILIS S.A. OLYMPIA - XENIA S.A. IDEAL STANDARD S.A. AGRICULTURAL COOPERATIVE “NEOS ALIAKMON” S.A. ARMOS PROKAT S.A. GRANTEX S.A. VERNILAC S.A. INTROFEX LTD JANNIS S.A. PATRAS PAPERMILLS S.A. IMAS S.A. CHRISTOS KLONARIDIS S.A. ARNAOUTELIS S.A. STAVRINOS BROS S.A. MIL OIL HELLAS S.A. VEMEKEP S.A. AMALTHIA S.A. GREEN FOOD S.A. SDOUKOS S.A. SAKOS LTD ESCARCOM S.A.

13.310.240,00 € 14.653.432,00 € 13.476.000,00 € 10.958.084,00 € 14.986.070,00 € 13.759.406,00 € 12.945.520,00 € 15.858.507,00 € 12.160.000,00 € 12.579.000,00 € 12.097.207,00 € 13.976.217,00 € 13.150.892,00 € 12.652.294,00 € 9.005.000,00 € 13.427.242,00 € 12.206.849,00 € 13.550.215,00 € 13.115.385,00 € 10.364.681,00 € 10.338.045,00 € 9.812.397,00 € 11.583.105,00 € 12.313.981,00 € 10.271.429,00 € 9.596.921,00 € 13.201.766,00 € 13.092.176,00 € 12.710.621,00 € 16.792.672,00 € 12.903.944,00 € 47.702.145,00 € 16.939.000,00 € 13.891.608,00 € 7.605.622,00 € 10.292.659,00 € 13.584.211,00 € 11.344.000,00 € 12.946.371,00 € 11.879.531,00 € 11.027.659,00 € 11.806.265,00 €

TURNOVER 2016

14.410.311,00 € 14.357.601,00 € 14.332.000,00 € 14.184.370,00 € 14.167.512,00 € 14.073.710,00 € 14.054.902,00 € 13.742.428,00 € 13.677.000,00 € 13.649.000,00 € 13.645.558,00 € 13.588.304,00 € 13.570.460,00 € 13.478.216,00 € 13.450.000,00 € 13.435.291,00 € 13.391.045,00 € 13.313.925,00 € 13.263.895,00 € 13.228.179,00 € 13.195.941,00 € 13.190.000,00 € 13.073.267,00 € 13.056.189,00 € 13.019.988,00 € 12.989.836,00 € 12.978.556,00 € 12.924.111,00 € 12.876.882,00 € 12.850.000,00 € 12.630.000,00 € 12.584.434,00 € 12.534.000,00 € 12.509.303,00 € 12.362.184,00 € 12.356.461,00 € 12.344.493,00 € 12.338.289,00 € 12.335.000,00 € 12.333.255,00 € 12.198.380,00 € 12.165.447,00 €

PRE-TAX INCOME 2015

-191.508,00 € 445.314,00 € 91.000,00 € 178.743,00 € 16.447,00 € 2.423.110,00 € 118.142,00 € -1.668.967,00 € -1.712.000,00 € -5.254.000,00 € 73.521,00 € 12.530,00 € 814.477,00 € 1.033.712,00 € -1.938.000,00 € -1.140.843,00 € -1.279.712,00 € 83.721,00 € 267.849,00 € 523.185,00 € 552.851,00 € 192.330,00 € 146.371,00 € 51.018,00 € 117.197,00 € -490.794,00 € 1.410.139,00 € 1.802.108,00 € 1.687.488,00 € 1.270.766,00 € -1.184.996,00 € -1.413.318,00 € -208.000,00 € 25.005,00 € 142.915,00 € 422.150,00 € -1.350.041,00 € 772.813,00 € 690.000,00 € 221.177,00 € 750.038,00 € 608.492,00 €

PRE-TAX INCOME 2016

-549.170,00 € 275.271,00 € 311.000,00 € 60.627,00 € -476.074,00 € 1.816.268,00 € 479.728,00 € -2.017.915,00 € -600.000,00 € -3.638.000,00 € 90.591,00 € 17.679,00 € 780.905,00 € 1.330.830,00 € 91.000,00 € -1.221.797,00 € 171.322,00 € 164.096,00 € -120.279,00 € 576.973,00 € 944.144,00 € 280.000,00 € 409.142,00 € 802.210,00 € 252.863,00 € 469.178,00 € 962.847,00 € 1.760.674,00 € 2.373.404,00 € 1.900.000,00 € -490.000,00 € -13.706.800,00 € 95.000,00 € -832.726,00 € 67.351,00 € 507.610,00 € 160.100,00 € 821.552,00 € 934.000,00 € 142.329,00 € 1.065.918,00 € 282.109,00 €

I 109 I

CREATIVE GREECE 2018

EXPORT LEADERS

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES TURNOVER 2015

383 384 385 386 387 388 389 390 391 392 393 394 395 396 397 398 399 400 401 402 403 404 405 406 407 408 409 410 411 412 413 414 415 416 417 418 419 420 421 422 423 424

I 110 I

PLOMARI OUZO DISTILLERY ISIDOROS ARVANITIS S.A. POTPAN S.A. E. PAIRIS S.A. M.E.TE. S.A. RODOULA S.A. ETPA PACKAGING S.A. MANOS S.A. BOLERO S.A. EURICOM HELLAS S.A. BETTINA S.A. SIAMIDIS K. S.A. ELEN S.A. A.VI.GAL S.A. SOUROTI S.A. TSABASIS S.A. CARTONTEC S.A. FYRKO S.A. VIGLA OLYMPUS S.A. OLIVELLAS S.A. FRAGKOS S.A. TECHNOKAN S.A. VOTOMOS S.A. EL SABOR S.A. PETRIDIS S.A. ALOUETTE S.A. PAVLIDES COTTON GIN S.A. NERA KRITIS S.A. BIKRE - THEMISTOKLES CHATZIGAVRIILIDIS SA “THE MANNA” BAKERY N. TSATSARONAKIS SA” IASIS PHARMACEUTICALS HELLAS S.A. EL.V.IZ. S.A. DISTROCHICK S.A. ARVANITIDIS S.A. ZOETIS HELLAS S.A. BOUTARY I. & SONS WINERY S.A. VLACHAKIS S.A. MILKPLAN S.A. G & P COTTON GIN S.A. INTERPLAST S.A. SKOURTIS P. S.A. AEIFOROS S.A. APOSTOLIDIS S.A.

10.830.636,00 € 5.778.731,00 € 11.288.496,00 € 13.005.946,00 € 10.691.244,00 € 11.465.208,00 € 11.089.767,00 € 9.737.264,00 € 14.967.414,00 € 10.672.878,00 € 8.395.593,00 € 8.422.520,00 € 10.235.113,00 € 11.599.129,00 € 11.079.250,00 € 10.309.076,00 € 12.161.400,00 € 15.417.680,00 € 6.040.000,00 € 12.514.523,00 € 9.955.917,00 € 10.729.856,00 € 9.358.372,00 € 9.776.325,00 € 9.268.665,00 € 12.162.028,00 € 10.568.141,00 € 9.860.099,00 € 10.531.962,00 € 10.696.044,00 € 11.151.678,00 € 10.177.338,00 € 9.300.505,00 € 10.070.391,00 € 12.026.000,00 € 10.823.505,00 € 11.621.981,00 € 12.439.769,00 € 9.965.533,00 € 10.487.148,00 € 7.624.527,00 € 8.236.555,00 €

TURNOVER 2016

12.063.767,00 € 12.010.000,00 € 11.974.908,00 € 11.954.153,00 € 11.748.726,00 € 11.607.461,00 € 11.577.721,00 € 11.550.948,00 € 11.530.000,00 € 11.521.043,00 € 11.472.016,00 € 11.341.753,00 € 11.329.530,00 € 11.326.244,00 € 11.319.681,00 € 11.310.000,00 € 11.194.479,00 € 11.159.514,00 € 11.130.000,00 € 11.056.127,00 € 11.037.341,00 € 11.006.498,00 € 10.939.246,00 € 10.934.574,00 € 10.928.474,00 € 10.925.084,00 € 10.878.501,00 € 10.810.726,00 € 10.788.809,00 € 10.697.390,00 € 10.688.660,00 € 10.674.548,00 € 10.649.050,00 € 10.554.596,00 € 10.540.000,00 € 10.470.528,00 € 10.443.241,00 € 10.428.941,00 € 10.410.000,00 € 10.356.203,00 € 10.315.429,00 € 10.309.102,00 €

PRE-TAX INCOME 2015

PRE-TAX INCOME 2016

381.840,00 € 14.694,00 € -1.173.365,00 € 776.322,00 € -406.382,00 € 1.131.528,00 € -1.280.288,00 € -1.372.647,00 € 2.979,00 € 175.075,00 € 234.482,00 € 242.566,00 € 728.797,00 € -590.608,00 € 2.522.415,00 € 1.229.401,00 € 12.535,00 € -628.437,00 € 630.000,00 € -1.739.578,00 € 689.833,00 € 51.471,00 € 924.393,00 € 638.624,00 € -2.130.097,00 € 2.019.022,00 € 1.489.288,00 € 231.636,00 € 4.245.321,00 € 102.925,00 € -105.356,00 € -132.688,00 € 411.465,00 € 477.353,00 € -614.000,00 € 484.062,00 € 886.067,00 € 79.417,00 € 208.487,00 € -1.754.722,00 € 18.650,00 € 321.049,00 €

366.406,00 € 760.000,00 € 102.285,00 € 1.002.899,00 € -128.918,00 € 614.680,00 € -963.894,00 € -945.779,00 € -280.000,00 € 340.347,00 € 530.236,00 € 1.935.557,00 € 530.124,00 € -995.810,00 € 2.490.604,00 € 1.470.000,00 € 3.342,00 € -2.436.951,00 € 510.000,00 € -226.235,00 € 1.264.169,00 € 81.961,00 € 1.042.415,00 € 1.035.003,00 € 12.766,00 € -94.679,00 € 1.545.676,00 € 236.193,00 € 4.239.457,00 € 61.126,00 € -23.125,00 € -65.545,00 € 493.317,00 € 318.418,00 € -2.580.000,00 € 619.257,00 € 1.006.312,00 € 86.478,00 € 490.000,00 € -3.290.591,00 € 574.307,00 € 631.065,00 €

CREATIVE GREECE 2018

EXPORT LEADERS

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES TURNOVER 2015

425

SERGAL S.A.

426

STYL. S. KOSKINIDIS S.A.

427

SOL HELLAS S.A.

428

TURNOVER 2016

PRE-TAX INCOME 2015

PRE-TAX INCOME 2016

10.123.438,00 €

10.227.548,00 €

565.442,00 €

565.569,00 €

9.206.439,00 €

10.148.772,00 €

137.579,00 €

413.734,00 €

10.309.225,00 €

10.145.572,00 €

-821.799,00 €

-983.622,00 €

LAVA MINING & QUARRYING CO S.A.

8.092.000,00 €

10.134.000,00 €

1.327.000,00 €

2.096.000,00 €

429

SATO S.A.

7.362.671,00 €

10.105.325,00 €

-6.878.753,00 €

-1.800.457,00 €

430

SARADIS S.A.

9.590.909,00 €

9.982.672,00 €

150.515,00 €

-164.973,00 €

431

BOSMAN MINK FARM S.A.

13.921.107,00 €

9.972.351,00 €

816.216,00 €

-2.328.945,00 €

432

LABRIDIS BROS S.A.

10.661.849,00 €

9.941.262,00 €

528.441,00 €

322.598,00 €

433

FERTI-HAL S.A.

11.385.382,00 €

9.866.874,00 €

1.161.701,00 €

1.917.072,00 €

434

EMV S.A.

9.959.376,00 €

9.855.956,00 €

3.002.082,00 €

2.568.317,00 €

435

D.I. FIDAS S.A.

8.193.723,00 €

9.633.759,00 €

-3.056.391,00 €

-2.236.143,00 €

436

MEDEKIDIS S. S.A.

8.570.771,00 €

9.633.103,00 €

1.364.934,00 €

1.600.478,00 €

437

KOZAT S.A.

10.578.700,00 €

9.487.976,00 €

368.559,00 €

46.367,00 €

438

CHARITOPOULOS D. N. S.A.

11.099.767,00 €

9.412.714,00 €

8.538.984,00 €

5.850.845,00 €

439

THRACE SPINNING S.A.

9.463.276,00 €

9.402.746,00 €

-5.703.004,00 €

-5.432.950,00 €

440

ABEA S.A.

9.877.245,00 €

9.357.937,00 €

112.676,00 €

-50.659,00 €

441

FAKLARI S.A.

10.376.076,00 €

9.310.194,00 €

44.140,00 €

28.126,00 €

442

ETANAP S.A.

8.464.435,00 €

9.270.000,00 €

1.284.267,00 €

1.870.000,00 €

443 VIOLANTA S.A.

7.490.832,00 €

9.065.433,00 €

964.111,00 €

1.594.921,00 €

444

TH.C.SKAGIAS S.A.

9.754.405,00 €

8.995.677,00 €

-326.528,00 €

-1.020.280,00 €

445

BAKEHELLAS S.A.

7.470.000,00 €

8.860.000,00 €

240.000,00 €

430.000,00 €

446

UNION OPTIC S.A.

7.699.910,00 €

8.840.137,00 €

826.157,00 €

1.166.994,00 €

447

ER-LAC G.D KOUTLIS S.A.

9.031.019,00 €

8.749.746,00 €

162.229,00 €

73.631,00 €

448

MEDICHEMIE HELLAS S.A.

9.781.746,00 €

8.736.670,00 €

1.283.481,00 €

758.145,00 €

449

DOMUS S.A.

8.280.385,00 €

8.713.385,00 €

754.996,00 €

1.369.213,00 €

450

LESVOS DAIRY S.A.

7.626.245,00 €

8.697.150,00 €

662.468,00 €

503.672,00 €

451

RAVAGO CHEMICALS HELLAS S.A.

7.926.451,00 €

8.682.739,00 €

356.193,00 €

-93.304,00 €

452

VICTORIA S.A.

7.918.624,00 €

8.674.685,00 €

1.565.450,00 €

1.260.358,00 €

453

S. ZAFIRIS S.A.

8.101.123,00 €

8.661.804,00 €

290.952,00 €

113.961,00 €

454

TAKTIKOS S.A.

7.943.332,00 €

8.658.499,00 €

414.573,00 €

264.500,00 €

455

ARVANITIS S.A.

7.794.774,00 €

8.606.651,00 €

545.477,00 €

786.239,00 €

456

SIRMA S.A.

11.489.382,00 €

8.532.386,00 €

-46.139,00 €

239.788,00 €

457

TSIKAKIS - GIANNOPOULOS S.A.

8.694.074,00 €

8.511.916,00 €

107.011,00 €

25.242,00 €

458

POKAS ARCADIAN RECYCLE S.A.

7.639.048,00 €

8.500.000,00 €

-529.721,00 €

-160.000,00 €

459

LYKOMITROS STEEL SA

12.371.991,00 €

8.456.634,00 €

310.416,00 €

618.635,00 €

460

DRAMAS GREENHOUSE S.A.

8.665.507,00 €

8.378.052,00 €

27.874,00 €

943.416,00 €

461

MAK PACK S.A.

8.026.415,00 €

8.355.619,00 €

655.910,00 €

641.866,00 €

462

DOMAINE COSTA LAZARIDI S.A.

7.533.711,00 €

8.292.135,00 €

-1.054.586,00 €

-843,00 €

I 111 I

CREATIVE GREECE 2018

EXPORT LEADERS

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES TURNOVER 2015

TURNOVER 2016

PRE-TAX INCOME 2015

PRE-TAX INCOME 2016

463

ANEL S.A.

7.063.231,00 €

8.261.284,00 €

772.909,00 €

1.043.498,00 €

464

DOMIKI KRITIS S.A.

7.857.513,00 €

8.222.362,00 €

-2.097.124,00 €

-165.122,00 €

465

ANOXAL S.A.

6.900.000,00 €

8.160.000,00 €

1.270.000,00 €

280.000,00 €

466

KARANIKAS MILLS S.A.

7.992.076,00 €

8.090.714,00 €

536.151,00 €

414.804,00 €

467

PTINOPARAGOGI S.A.

8.356.257,00 €

8.032.211,00 €

-68.437,00 €

78.121,00 €

468

ELASTOTET S.A.

7.591.699,00 €

8.001.731,00 €

251.319,00 €

270.097,00 €

469

KOURELLAS S.A.

9.334.154,00 €

7.957.269,00 €

-249.878,00 €

-357.361,00 €

470

VIORAL S.A.

6.487.641,00 €

7.904.592,00 €

993.723,00 €

1.319.403,00 €

471

CRYSTAL S.A.

6.935.599,00 €

7.887.654,00 €

160.392,00 €

408.295,00 €

472

FARCOM S.A.

4.745.906,00 €

7.881.952,00 €

321.307,00 €

1.429.315,00 €

473

PIRAIKI METALLON S.A.

6.007.471,00 €

7.832.248,00 €

-347.677,00 €

67.495,00 €

11.237.746,00 €

7.800.000,00 €

256.229,00 €

110.000,00 €

474 PANAGIOTIS SP. DAKOS S.A. HELIOS 475

LUBRICO TSAKALIS LTD

5.553.781,00 €

7.770.362,00 €

95.813,00 €

329.691,00 €

476

ALEX S.A.

8.914.098,00 €

7.729.341,00 €

-126.139,00 €

-367.302,00 €

477

BOTZAKIS S.A.

7.118.666,00 €

7.718.630,00 €

138.325,00 €

206.663,00 €

478

BONAPLAST S.A.

7.812.046,00 €

7.684.502,00 €

95.163,00 €

273.031,00 €

479 ADELCO S.A.

8.133.171,00 €

7.610.629,00 €

1.848.935,00 €

1.770.967,00 €

480

ZEUS KIWI S.A.

7.170.341,00 €

7.605.794,00 €

324.402,00 €

199.170,00 €

481

BIO DIESEL LTD

7.454.871,00 €

7.570.458,00 €

827.659,00 €

1.032.965,00 €

482

ERGOBETON S.A. THRACE

11.137.868,00 €

7.452.251,00 €

4.051.454,00 €

898.652,00 €

483

STEREA KAUSIMA S.A.

14.075.237,00 €

7.440.214,00 €

2.952.267,00 €

1.719.025,00 €

484

ENVIRONMENTAL ENGINEERING S.A.

11.670.100,00 €

7.438.346,00 €

4.404.642,00 €

190.519,00 €

485

ROLKA S.A.

6.181.110,00 €

7.423.813,00 €

-63.617,00 €

321.256,00 €

486

TECHNOBETON S.A.

6.214.370,00 €

7.410.000,00 €

10.058,00 €

20.000,00 €

487

GRECO STROM LTD

6.884.072,00 €

7.408.404,00 €

321.216,00 €

170.369,00 €

488

OLYMPIAKI CHELIOU & SOLOMOU S.A.

6.998.421,00 €

7.378.312,00 €

499.769,00 €

511.643,00 €

489

FEDON S.A.

9.348.097,00 €

7.350.542,00 €

285.871,00 €

17.712,00 €

490

GEOK S.A.

8.180.704,00 €

7.335.416,00 €

-1.207.416,00 €

-1.856.105,00 €

491

ETIL S.A.

7.171.285,00 €

7.323.037,00 €

191.201,00 €

318.024,00 €

492

PAPADIMITRIOU C. C. S.A.

8.478.319,00 €

7.308.371,00 €

-105.936,00 €

-69.795,00 €

493

SERVISTEEL S.A.

2.711.920,00 €

7.277.311,00 €

642.306,00 €

449.585,00 €

494

SAO S.A.

6.431.656,00 €

7.255.173,00 €

30.246,00 €

117.421,00 €

495

INOX MARKET PATSALA S.A

6.256.247,00 €

7.235.690,00 €

381.286,00 €

456.646,00 €

496

MARMYK ILIOPOULOS S.A.

5.525.791,00 €

7.223.739,00 €

193.182,00 €

528.664,00 €

497

THESSALIKO TRIKALON S.A.

7.037.150,00 €

7.159.759,00 €

245.870,00 €

591.799,00 €

498

LAKRE S.A.

6.699.510,00 €

7.129.146,00 €

68.390,00 €

24.960,00 €

499

CATSACOULIS S.A.

3.680.526,00 €

7.094.118,00 €

134.171,00 €

12.143,00 €

500

VAMVAKOYRGIA VIOTIAS S.A.

6.645.165,00 €

7.069.695,00 €

158.362,00 €

-324.342,00 €

I 112 I

CREATIVE GREECE 2018

EXPORT LEADERS PetroleumΟΜΙΛΟΣ Products ΕΤΑΙΡΕΙΩΝ Industrial

GROUP OF COMPANIES

Efstathios Tsotsoros, President

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HELLENIC PETROLEUM SA

Hitting production and exports records in 2016 Founded in 1998, HELLENIC PETROLEUM Is one of the leading energy groups in South East Europe, with activities spanning across the energy value chain and presence in six countries. Its shares are primarily listed on the Athens Exchange (ATHEX: ELPE) with a secondary listing on the London Stock exchange (LSE: HLPD), while its two bond issues are listed on the Luxemburg Stock Exchange.

In 2017, Group Adjusted EBITDA amounted to €834m, on total revenues of €8bn. Hellenic Petroleum’s key shareholders are Paneuropean Oil and Industrial Holdings S.A. (45.5%) and the Hellenic Republic Asset Development Fund (35.5%), with the remaining held by institutional (11%) and private (8%) investors.

Refining is the Group’s core business, accounting for 75% of total assets. It owns three of the four refineries in Greece, of total capacity of 340 kbpd, with a 65% share of the Greek wholesale oil products market.

The Group is the domestic ground fuels marketing leader, with a retail network of c.1,700 service stations throughout Greece as well as LPG, industrial, aviation and marine fuels and lubricants businesses.

HELLENIC PETROLEUM is a leading player in SE European markets. The Group owns OKTA facilities in Skopje (FYROM) for transportation and marketing of petroleum products and through its network of 300 petrol stations is one of the key fuels marketing players in Cyprus, Serbia, Bulgaria, Montenegro and FYROM. The Group’s exploration and production activities are focused in Greece. HELLENIC PETRLOEUM has been awarded E&P rights as Operator (50%) in Patraikos Gulf, offshore Western Greece together with Edison and has a 25% interest in the Sea of Thrace Concession, in a consortium with Calfrac (75%); it has also been awarded E&P rights (25%) in Block 2, in a JV with TOTAL and Edison, as well as for two onshore blocks in Western Greece “Arta- Preveza” and “NW Peloponnese” (100% operator).

HELLENIC PETROLEUM has also been declared as the Selected Applicant for “Block 10”, in the Kyparissiakos Gulf and has submitted offers for the offshore “Block 1” North of Corfu, two. offshore blocks in South Crete (JV with Total and ExxonMobil) and an offshore block in Ionian Sea (JV with Repsol).

HELLENIC PETROLEUM is the sole petrochemicals producer in Greece, mainly active in the propylenepolypropylene value chain. Domestic market shares exceed 50%, while exports, mainly in Turkey and other Mediterranean countries account for c. 70% of sales.

HELLENIC PETROLEUM is also active in the power and gas sectors. Power generation and trading activities are carried out through Elpedison, a JV with EDISON, which owns and operates two CCGT plants in Greece, one 390MW plant in Thessaloniki and a 420MW plant in Thisvi, with growing presence in the electricity supply business. Moreover, HELLENIC PETROLEUM recently entered the field of renewable energy sources with a portfolio of 17 MW in operation and over 200MW in various development stages.

The Group is present in the natural gas sector through its 35% stake in DEPA, Greece’s incumbent gas company and the main natural gas importer and wholesale supplier in the country. DEPA fully owns DESFA, Greece’s natural gas grid owner and operator and 51% of each of the local distribution (EDAs) and supply companies (EPAs).

The Group is implementing a notable number of CSR activities, focusing mainly on supporting youth and vulnerable groups.

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Contact Details 8A Chimarras St., GR 151 25, Maroussi, Athens, Greece Tel.: +30 210 63 02 000 Fax: +30 210 63 02 510 Website: http://www.helpe.gr/ I 113 I

CREATIVE GREECE 2018

EXPORT LEADERS Energy Industrial

Emmanouil Panagiotakis, Chairman & CEO PPC S.A.

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Contact Details 30 Chalkokondyli Str. 10432, Athens, Greece Τel.: +30 210 52930301 E-mail: info@dei.com.gr Website: https://www.dei.gr I 114 I

Public Power Corporation S.A.

Always by your side PPC Group is Greece’s leading electric utility, with activities ranging across mining, electricity generation, distribution network operation and supply of electricity to end consumers.

It is the largest power generator with a total installed capacity of 12.1 GW including thermal, hydro and RES power plants in the mainland and in the islands. It is also the owner and operator of the electricity distribution network, through its subsidiary

HEDNO SA, and the largest power supplier, providing electricity to approx. 7.2 million customers across the country, including the islands.

PPC was founded in 1950 and is one of the largest industrial groups in Greece with revenues of €5.3 bn and total assets of €17.1 bn in 2016, employing a staff of approximately 17,500.

The Company’s shares are traded in the Athens Stock Exchange since 2001.

I 115 I

CREATIVE GREECE 2018

EXPORT LEADERS Petroleum Industrial

MOTOR OIL (HELLAS) CORINTH REFINERIES S.A.

A leader in the oil refining business

Vardis Vardinogiannis, President of Motor Oil Hellas

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Contact details 12A Irodou Attikou St., 151 24 Maroussi, Attica, Greece Tel: +30 210 8094000 Fax: +30 210 8094444 Website: www.moh.gr E-mail: info@moh.gr I 116 I

Motor Oil Hellas (MOH) is committed to being a leader in the petroleum refining business, providing its serving region with a reliable and affordable supply of energy. Through its evolution, MOH is now considered as one of the major contributors to the domestic economy and a key market player in the region. MOH is listed on the Athens Stock Exchange and is a constituent of the ATHEX COMPOSITE INDEX, FTSE/ATHEX LARGE CAP INDEX, as well as various sectoral indices.

The Refinery, together with its ancillary plants and offsite facilities, form the largest privately-owned industrial complex in Greece and is considered as one of the most modern refineries in Europe. Due to its flexibility, it can process crude oils of various characteristics and produce a full range of petroleum products, complying with the most stringent international specifications, serving major petroleum marketing companies in Greece and abroad.

Apart from fuels, MOH is the only Lubricants producer and packager in Greece. Base oils and finished lubricants produced are approved by International Organizations, ACEA, API, the US Navy and Army. The Refinery production operations are located in Agii Theodori, in the province of Corinth, about 70 km west of Athens. The Administration and the General Divisions of Marketing, Finance, Administration & Human Resources and Strategic Corporate Planning & Development are housed at the company headquarters in a modern building in the Athens suburb of Maroussi.

MOH’s Quality Management System is certified according to ISO 9001:2008 for the production & delivery of fuels, lubricants, waxes and bitumen. Additionally, the environmental management systems are certified as per ISO 14001:2004, while the Health and Safety system is certified as per OHSAS 18001:2007. The firm is Greece’s only oil refinery to have been certified with these three certifications.

The Company is totally committed to continuous quality improvement, and within the scope of this commitment, in September 2006 the Refinery’s Chemical Lab was certified according to ISO 17025:2005 by Greece’s National Certification System (ESYD), valid up to September 2018.

Furthermore, since 2007 within the framework of its commitment for continuous improvement of Environmental Management, the Company voluntarily publishes an annual Environmental Statement according to European Regulation 1221/2009 (Eco-Management and Audit Scheme), verified by Bureau Veritas.

MOH’s extraordinary growth can be largely attributed to its human resources, as the firm strives to help its people develop to their highest potential, through continuous training programs and assignment of challenging projects.

In the financial year 2016, the group reported a drop in sales to 6.35 billion euros, compared to 7.06 billion euros a year earlier. Pre-tax earnings increased to 428 million euros against 302 million euros in 2015. In the first nine months of 2017, turnover amounted to 5.7 billion euros, compared to 4.4 billion euros in the corresponding period a year earlier. In 2016, the group was highly export-oriented, with sales abroad and shipping reaching 74.16% of total sales compared to 73.24% year-on-year. Notably, in 2016, the Group’s total investment expenditure amounted to 87.9 million euros.

In the first half of 2017 Motor Oil posted a jump in sales to 3.7 billion euros compared to 2.6 billion in the corresponding period a year earlier, or an increase of 40.93%. In the same period, net income before taxes was also higher at 177 million euros against 170 million euros in the first half of 2016.

Foreign sales and shipping sales in the first half of 2017 also increased, reaching up to 79.78% of total sales compared to 73.49% in the corresponding period of 2016. Lastly, in 2017, the firm’s investment expenditure is expected to be valued at 55 million euros.

CREATIVE GREECE 2018

EXPORT LEADERS Tobacco Products Industrial

PAPASTRATOS

IQOS: A global innovation Made in Greece Papastratos, an affiliate of Philip Morris International (PMI), is the largest tobacco products producer in Greece. The firm is based in Aspropyrgos, Attica, and offers approximately 800 direct and indirect jobs in its production plants and administrative facilities. Papastratos’ portfolio of products includes the world’s leading brand Marlboro, reputed international brands Philip Morris, L&M, the historic ASSOS, and the innovating potentially reduced-risk tobacco product IQOS. Since 2016, Papastratos has been the leading company in a cluster of countries including, in addition to Greece, Romania, Bulgaria, Cyprus, Croatia, Slovenia and Malta. Counting 86 years of history in the Greek market, Papastratos continues its dynamic business development and supports the Greek economy and Greek society. Historically, Papastratos was always been purchasing the largest amount of Greek oriental tobacco. In 2013 the mother company PMI entered into a binging cooperation Agreement with the Greek government, undertaking to buy 50% of the Greek oriental tobacco production for the three-year period 2013-2015. The Agreement was renewed in 2016 for another three-year period (until 2018).

Since 2003, the company has implemented an investment plan valued at more than 700 million euros. The plan focuses on infrastructure at the company’s factory in Aspropyrgos, its people and brands, on significant social responsibility activities as well as on the fight against the illegal trade in cigarettes. Today Papastratos has one of the most state-of-the-art PMI factories in Europe. In 2016 it was nominated as the #1 Most Admired Company (in any sector) in Greece by the Fortune magazine.

With a new investment of 300 million euros announced in March 2017, Papastratos will turn its factory in Aspropyrgos into a production facility for the IQOS heatsticks and create 400 new jobs. In early 2018, an investment valued at 300 million euros was made in the Aspropyrgos facility, which will exclusively produce heated HEETS tobacco bars for IQOS. Two new tobacco processing lines and 10 new Heats production lines were added to the Aspropyrgos plant. Total production capacity is estimated at 20 billion tobacco bars per year. Philip Morris International and Papastratos continue to absorb and export all over the world oriental type Greek tobacco, which will make up a significant proportion in the blend of new tobacco bars.

Estimates show that the market share of tobacco bars in the last quarter reached 2.8%, with sales of IQOS devices surpassing 100,000 in the domestic market. IQOS is the first of these products and heats the tobacco rather than burning it.

The firm’s employees are the most crucial ingredient for the business success of Papastratos. This investment has led to Papastratos being recognized as a great place to work by the Great Place to Work® Institute Hellas (2012, 2013, 2014, 2017), and as a top employer by the Top Employer Institute for three years in a row (2015, 2016, 2017). It also received two golden awards for employees’ development plans from the HR Awards.

Potentially reduced-risk products Over the last few years Philip Morris International, the mother company of Papastratos, has invested more than USD 3 billion on developing reduced-risk products when compared with traditional tobacco products. Reduced-Risk Products (“RRPs”) is the term we use to refer to products that present, are likely to present, or have the potential to present less risk of harm to smokers who switch to these products versus continued smoking. PMI’s reduced risk products are at various stages of development and commercialization. We carry out extensive and in-depth scientific studies to find out whether we can support claims about the reduced exposure these products provide to the harmful and potentially harmful elements found in tobacco and, ultimately, claims about the reduced disease risk caused by these products as compared to cigarettes. Nevertheless, before making any claims of this type, we will carefully evaluate all the data derived from the relevant scientific studies, in order to determine to what extent these claims of reduced exposure or reduced risk can be substantiated. Any such claims may also be subject to local laws, State control and authorization procedures, like those applying in the USA. Philip Morris International centers for Research and Development employ more than 400 scientists from various disciplines who are working on the development of a series of new innovative products which are potentially less harmful than cigarettes.

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Contact Details Imeros Topos, Location Kororemi, Aspropyrgos 193 00, Greece Tel.: +30 210 41 93 000 Fax: +30 2104193821 Email: papastratos@pmi.com Website: https://www.pmi.com I 117 I

CREATIVE GREECE 2018

EXPORT LEADERS Industrial

ELVAL

A worldwide leading aluminium rolling manufacturer

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Contact Details e-mail: info@elval.vionet.gr website: www.elval.com I 118 I

Elval is the aluminium rolling division of ElvalHalcor S.A., one of the leading aluminium rolling processors worldwide and the only one in Greece.

For more than 40 years, Elval has been recognised as a trusted partner, committed to sustainable and innovative manufacturing of a broad portfolio of high quality products made for the packaging, sea and land transportation , automotive, industrial,, construction, , energy, and HVAC markets. Through an established global commercial network in more than 80 countries and 7 production plants in Greece, Elval and ElvalHalcor’ s aluminium segment subsidiaries export over 80% of their production and are able to offer reliable and competitive solutions that meet the requirements of the most demanding global customers.

Elval has the ability to sustainably produce both wide coils (up to 2.5 m) and long slabs (9 m) for demanding applications in a number of diverse markets. Having intense focus on investing in cutting- edge infrastructure and improving and extending production facilities, the Company has reached an annual capacity of 280,000 tons and is able to supply its multinational customers with innovative products and solutions of excellent quality that generate high levels of added value.

Elval’s extensive product portfolio includes aluminium sheets and coils used in construction and architectural applications (side covers and roofs of buildings, floors, venetian blinds, aluminium garage doors, rain gutters and multilayer tubes),

the shipbuilding and automotive industries (ships, car parts, trucks, trains, and HVAC applications), the food and beverage industry (food cans, beer and soft drink cans, closures, precision valves and flexible foil containers), among others.

With a strong focus on quality and innovation, Elval invests significantly in product and process development, employee training, and the constant upgrading of its facilities. Through the Elval Technology centre, a department dedicated to R&D, the Company is able to introduce both innovations in manufacturing processes and high quality products such as Elval Grain that won the 1st prize in the 3rd Competition for Applied Research and Innovation “Greece Innovates”. Moreover, Elval’s strategic partnership with United Aluminum Company of Japan (UACJ Corp.) has allowed it to reach a number of technological breakthroughs in the HVAC sector. Through this partnership, established in 1988, the Company benefits from significant technical assistance and expertise to support some of the most demanding industrial customers, aluminium dealers and distributors worldwide.

Elval aims to further improve its position as one of the most important manufacturers of rolled aluminium products worldwide by adhering to the principles of sustainable development, and having an ongoing focus on technology and innovation, employee health and safety, environmental protection and social contribution.

Elval product range Elval produces aluminium sheets, coils, and circles for a wide range of applications covering various markets.

Construction / architectural applications ● Curtain walls ● Composite aluminium panels ● Perforated sheets and coils ● Corrugated sheets ● Facade ● Construction angles ● Metal roofs ● False ceilings ● Venetian blinds /Rol. shutters ● Garage and industrial doors ● Window spacers ● Rain gutters Water transport systems ● Multi-layer tubes Power networks ● Bus ducts Renewable energy ● Windmill platforms and nacelles ● Solar systems

Oil & Gas ● LNG storage tanks Automotive industry ●V arious internal parts and components ● Heat and sound insulating covers ●S uspension and brake systems Shipbuilding ● Patrol vessels ● Workboats/supply vessels ● Yachts ● Pontoon boats Road and rail transport ● Trucks and trailers ● Tipper trucks ● Road tankers ● Road silos ● Refrigerated trucks ● Cargo rail wagons ● Buses/coaches ● Special purpose vehicles ● Caravans/Recreational vehicles ● Fuel tanks ● Air-pressure vessels Packaging ● Soft drinks and beer cans ● Food containers ● Aerosol valves ● Closure caps

Heating, ventilation, cooling ● Heat exchangers ● Car radiators ● Air coolers ● Condensers ● Evaporators ● Oil coolers Engineering applications ● Static silos ● Geodesic domes and floating roofs ● Flat screen TVs (LED) ● Printed circuit boards ● Light bulb bases ● Communications equipment boxes ● Heat-insulating pipes ● Toolboxes Household appliances ● Cooking implements ● Kitchen appliances Signage ● Name plates ● Road signs ● Billboards ● Car license plates ● Aluminium trims

I 119 I

CREATIVE GREECE 2018

EXPORT LEADERS Industrial

HALCOR

A leading global producer of innovative and value added copper solutions

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Contact Details info@halcor.com website: www.halcor.com I 120 I

Halcor is the copper tubes division of ElvalHalcor S.A., a leading copper industry that specializes in the production, processing and marketing of copper and copper alloys products with dynamic commercial presence in the European and global markets.

For more than 80 years, Halcor has been offering innovative and added-value solutions that meet contemporary client demands in fields, such as plumbing, HVAC&R, renewable energy, architecture, engineering and industrial production.

Halcor and the copper subsidiaries Fitco S.A. , Sofia Med S.A. and HC Isitma consist the copper segment of ElvalHalcor S.A. and are based in Greece, Bulgaria and Turkey while they operate a total of five production plants in Greece, Bulgaria and Turkey. Halcor and the copper subsidiaries develop and distribute a wide range of products, including copper, brass and copper alloy rolled

and extruded products with Halcor being the sole producer of copper tubes in Greece.

High quality in production is achieved through strict controls applied throughout the production process. With a consistent quality focus, the company implements an ISO 9001:2008 Certified Quality Management System and leverages high technologies and expert staff.

As a result of its strategic investments in research and development, Halcor is recognized as one of the leading copper producers globally, setting new standards in copper processing. Halcor maintains a consistent focus on quality and environmental protection and a strong commitment to the principles of sustainable development.

All production facilities leverage advanced technologies to bring in the market innovative products that are energy efficient and environmentally friendly.

Halcor – product range Halcor offers a wide range of energy efficient and environmentally friendly products. ● Copper Tubes TALOS®: Water supply, heating, natural gas, fire extinguising networks TALOS® Coated Copper: Water supply, heating and cooling TALOS® ECUTHERM™: Water supply, heating networks, air- conditioning and refrigeration, solar systems and industrial networks CUSMART®: (flexible copper tubes) for water supply, heating, floor (under-floor) heating & cooling TALOS® ACR: HVAC&R and solar applications TALOS® GAS: (Coated) natural gas networks

TALOS® MED: medical gas networks TALOS® ECUTHERM SOLAR: (factory-insulated) solar installations TALOS® ACR INNER GROOVED: heat-exchangers TALOS® Geotherm: Geothermal heating and cooling TALOS® Linesets: Air conditioning and heat pump systems. ● Copper and titan zinc gutters ● Brass bars rods, tubes, sections, flats and wires for applications in architecture, interior design, contemporary art, furniture, lighting, pumps, gutters, heat-exchangers, plumbing, automotive, music instruments, etc. ● Copper sheets and strips for architecture applications, such as domes, roof covers, exterior surfaces, gutters. ● Copper and brass sheets and strips for

the construction of electrical and electronic equipment, springs, parts and components for the automotive industry, boilers, solar energy collectors and panels, heatexchangers, electricity converters, connectors, refrigerators, pre-rolled high- frequency cables, ammunitions, wrapping for fireresistant cables, electrical cable wrapping.

These products are suitable for marine applications, for the defence, petro-chemical, electrical, nuclear and medical industries, as well as for machining and special tools, cooking utensils, art and decoration. ● UR30 copper alloy wire and net for cage farming aquaculture. ● Copper alloys for the production of beakers, discs and coins. ● Copper bars, rods and strips for architecture applications, electrical and mechanical equipment, decoration.

I 121 I

CREATIVE GREECE 2018

EXPORT LEADERS Organization Commercial

ENTERPRISE GREECE

Creating Value Enterprise Greece is the investment and trade promotion agency of the Greek State, under the supervision of the Ministry of Economy & Development. The agency implements international best practices in its mission to support the outward orientation of the Greek economy. It fosters investments in various lucrative sectors of the economy and promotes the products and services of local businesses in global trade markets.

Under its role to attract investments into the country, Enterprise Greece supports foreign investors in developing their business activities in Greece, troubleshoots issues related to public administration, provides key information about the country as an investment destination, and promotes investment in sectors where Greece excels.

Elias Athanasiou CEO, Enterprise Greece

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Contact Details 109 Vasilisis Sophias Avenue, 11521, Athens, Greece Tel.: +30 210 3355700 Email: info@enterprisegreece.gov.gr Website: https://enterprisegreece.gov.gr/ I 122 I

Under its role to promote exports, Enterprise Greece helps present the best Greek

products and services to the international community by implementing a comprehensive action plan which is comprised among others of participation at all the major international trade fairs, businessto-business meetings for various industrial sectors, in-store promotions of Greek food and wine products at major retail chains in select target markets abroad. At the same time, the Agency trains and aids exporters in establishing new business relationships and entering new markets abroad.

Furthermore, the agency is also responsible for overseeing Greece’s fast track program, regarding strategic national investments.

Up to now, new investment projects valued at ca. €3.5 billion have been approved, through this initiative.

Investment Promotion Our comprehensive strategy to promote

Greece and support investment activities in the country includes: ● Organizing abroad.

investment

missions

● Coordinating business delegations to accompany official presidential and ministerial visits overseas. ● Receiving international trade delegations to Greece from other countries. ● Informing investors about Greece’s institutional, legal, tax and financial regulations. ● Maintaining and updating a portfolio of investment opportunities and projects. ● Supporting major investments through Greece’s Strategic Investment (Fast Track) process.

● Troubleshooting problems that arise though our special, investor mediation (Ombudsman) service. ● Recommending regulatory changes to improve the legal framework for investments.

● Organizing trade missions and exhibitions to promote Greek products. ● Implementing trade promotion programs co-financed by the European Union.

● Handling investor requests for information through our front office support.

● Providing Greek exporters with up-todate information and guidance to help them penetrate foreign markets.

Export Promotion

● Training prospective exporters how to create and go about selling products abroad.

Our export promotion strategy includes: ● Organizing Greek participation at international exhibitions. ● Promoting Greek products and services. ● Hosting buyers and importers from major foreign markets, and organizing business-to-business meetings with Greek companies.

Our primary goal is to connect Greek businesses with international, national and local partners abroad. Through such mutually beneficial cooperation, we aim at creating a supportive business climate that will both boost Greek exports, and support economic growth.

I 123 I

CREATIVE GREECE 2018

EXPORT LEADERS

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Contact Details 5-7 Patroklou Str. Maroussi 151 25 Athens Greece Τel.: +30 210 6877 300 Fax: +30 210 6877 400 Εmail: info@mytilineos.gr Website: www.mytilineos.gr I 124 I

A Greek multinational company A major business organisation operating in Greece and internationally, MYTILINEOS is active in the EPC and construction sectors through METKA, in the Metallurgy and Mining sector through Aluminium of Greece, and in the Energy sector through Protergia, with turnover (2017) over $ 2 billion.

The Company’s strong international presence in 30 countries establishes it as a global leader, as its exports to markets abroad account for more than 2% of total Greek exports, benefiting significantly the national economy and conveying a strong message to international investors for its commitment to continuous growth.

The history of MYTLINEOS goes back to the early 20th century. MYTILINEOS Group was founded in Greece in 1990, having evolved from an old family-run metallurgy business operating already since 1908. In 1995, MYTILINEOS was listed in the Athens Exchange and its share is today a constituent of the FTSE/ ATHEX Large Cap Index tracking the top 25 companies ranked by market capitalisation.

In 2017, MYTILINEOS SA has absorbed its subsidiaries (Aluminum of Greece, METKA, PROTERGIA) into a new single business entity, aiming to enhance operational flexibility and to enhance further the financing and purchasing financing level. With the new corporate structure, MYTILINEOS implements a strategic step in the transition to the new era, shielding effectively itself from ever-changing circumstances and at the same time confirming prospects for further growth, against the increasing competition of international markets.

In 2017, through an absorption-type merger, the parent company integrated its subsidiaries (Aluminum of Greece, METKA, PROTERGIA), transforming into a new single corporate entity, MYTILINEOS SA, thus enhancing its operational flexibility and further strengthening its market position and financing ca-

Industrial

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MYTILINEOS

pabilities. With this new corporate structure, MYTILINEOS has successfully completed a crucial strategic step for the transition into a new era, as it has effectively shielded itself against the constantly changing conditions, affirming at the same time its prospects for further growth, in spite of the increasing competition in global markets.

Faithful to the business strategy and to its vision for continuous evolution and development followed for more than three decades, MYTILINEOS today stands out for its unique and modern employment model, its active social profile, the innovative mechanisms it adopts for business growth, its strategic investments in state of the art solutions for the upgrading of its operations, and the successful consolidation of its presence in global markets.

At the same time, as a responsible corporate citizen, it constantly pursues continuous business excellence and the adoption of best practices, balancing business growth with social responsibility and the protection of the environment. For MYTILINEOS, Sustainable Development is synonymous to seeking business excellence with dedication to its vision and with respect for society, the environment, its people and its shareholders. The Company’s sustainability policy is founded on the harmonious coexistence of its business activities with the needs of the local communities where its operations are based. In this framework, MYTILINEOS is actively supporting major initiatives based on the global sustainability goals established by the United Nations.

Today (2016 data), MYTILINEOS has 2,817 direct and indirect employees, €637.9 million of exports, €28.9 million of environmental expenditures, 5,002 suppliers, 25 industrial production units & RES-based power plants, €91.7 million of investments, and €1.45 million of social expenditures.

I 125 I

CREATIVE GREECE 2018

EXPORT LEADERS Building Materials Industrial

TITAN CEMENT CO. SA

Strong presence in the US market

Dimitris Papalexopoulos, CEO

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Contact details 22-A Chalkidos St., 11143, Athens, Attica, Greece Tel: +30 210 2591 111 Fax: +30 210 2591 205 Email: main@titan.gr Website: www.titan.gr I 126 I

TITAN Group is an independent, vertically integrated cement and building materials producer with over 110 years of industry experience. Based in Greece, TITAN Group’s activity spans 13 countries. This activity is carried out both by wholly-owned affiliates and by joint ventures with other partners, covering the production of cement, concrete, aggregates, mortars and other building materials; transportation - distribution of products; and, processing and industrial utilization of fly ash. The Group owns cement plants in nine countries, employs more than 5,000 people worldwide and is organized in four geographic regions: Greece & Western Europe, USA, Southeastern Europe and Eastern Mediterranean. Up until the end of 2016, the group owned cement plants in the US (two), Greece (three), Serbia, Bulgaria, Kosovo, FYROM and Albania. In the Eastern Mediterranean, the group operates one factory in Turkey and two in Egypt. In 2016, most of the group’s turnover (53%) came from the US, with total sales of 794 million euros. Respectively, the smallest part of sales (14%) came from the Southeastern European market, with total turnover of 204 million euros.

Throughout its history, TITAN has remained firm on combining operational excellence with respect for people, society and the environment. TITAN Group’s CSR and Sustainability commitment is demonstrated in its own policies and practices, as well as through its active participation in international initiatives. TITAN was the first company in Greece to sign the United Nations Global Compact, which aims at safeguarding human rights, labor rights, environmental protection, as well as combating bribery and corruption. It is a member of CSR Europe, the World Business Council for Sustainable Development, the Cement Sustainability Initiative and the European Alliance for CSR. Throughout Greece’s economic crisis, since 2010, TITAN, under CEO Dimitris Papalexopoulos, has remained steadfast in the implementation of its action plan to improve social and environmental performance by retaining its focus on the triple bottom line framework and accelerating efforts to improve its safety culture; investing to reduce carbon footprint; and taking a number of initiatives to engage its stakeholders at the local level.

TITAN Group recorded a slight increase in sales and operating profitability in the nine months of 2017, mainly as a result of the US market rise. Consolidated turnover amounted to 1,144.5 million euros, representing an increase of 1.8% compared to the corresponding period in 2016.

Operating earnings before taxes, interest and depreciation increased by 4.6% to 214.5 million euros. Profit before tax for the nine-month period rose to 59 million euros compared to 39 million euros in 2016. For the nine-month period of 2017, the region with the largest increase in turnover was North America, with sales of 667 million euros compared to 584 million euros in the corresponding period a year earlier. The regions of Greece and Western Europe declined, with total nine-month sales of 189 million euros, compared to 195 million euros in the corresponding period of 2016. With regard to the remaining regions, sales in Southeast Europe stood at 173 million euros and in Eastern Mediterranean at 114 million euros.

Η ΕΦΗΜΕΡΙΔΑ ΠΟΥ ΣΕ ΤΑΞΙΔΕΥΕΙ

ΟΚΤΩΒΡΙΟΣ

Λιλή Π εργαν τά,

πρόε σύμβουδρος και δι ευθύ λος τη ς Pow νουσα er Hea lth

Η επιχ ειρημα τίας πο το «φα υ έφερε ρμακε ίο τη στη γε ς φύσης» ιτονιά σας

Έρευνα

της Hell as

List.

I 127 I

CREATIVE GREECE 2018

EXPORT LEADERS Industrial

ELVALHALCOR

Aluminium and copper processing experts

ElvalHalcor is a leading global industrial producer of aluminium and copper.

The Company was formed in December 2017 via the merger of Elval, a leading European aluminum rolling company, and Halcor, the largest copper tubes producer in Europe. It is listed on the Athens Stock Exchange.

As a combined entity, ElvalHalcor capitalises on natural synergies in innovation and technology, research and development (R&D), procurement, marketing, infrastructure and environment to produce value-added, high-quality solutions for its customers around the world.

ElvalHalcor’s success is derived from its commercial export orientation, customer-focused philosophy and innovation which comes through continuous investment in R&D. The Company has over 80 years of experience, a strong production base across 12 industrial units, a market presence in over 100 countries, and highly experienced and specialised personnel.

ElvalHalcor is active in many dynamic,

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Contact Details e-mail:info@elvalhalcor .com website: www.elvalhalcor.com I 128 I

growing markets, including: ●A utomotive and shipbuilding ● Packaging ●E nergy and power networks ●R enewable energy ● I ndustrial applications ●H eating, ventilation and air conditioning (HVAC) ●B uilding and construction ElvalHalcor is an important player in the non-ferrous metals industry. It successfully navigates the challenges of an evolving business environment whilst providing value to stakeholders through sustainable growth and development.

For more information, please visit: http:// www.elvalhalcor.com Aluminium segment With state-of-the-art production facilities in Greece and a dynamic commercial presence across all key geographies, the aluminium segment is well positioned in the global aluminium industry.

The aluminium segment comprises, the aluminium division, under the Elval brand name, and aluminium processing

subsidiaries Symetal, Elval Colour, Vepal, Anoxal and Viomal.

We offer a wide variety of aluminium products and solutions, including coils, strips, sheets and foil for various applications and architectural and industrial aluminium profiles.

Elval - aluminium rolling division “Strong track record of providing rolling expertise to a global customer base” Through continuous investment in R&D and an established global commercial network, Elval offers reliable, innovative and competitive solutions that meet the most demanding requirements of global customers.

Elval processes, manufactures and markets flat rolled aluminium products and solutions for diverse and demanding applications. Elval serves various industries including: ● Transport (sea, road and rail) ● Packaging ●B uilding and construction ● Energy ● Cookware

●H VAC (heating, ventilation and air-

conditioning) Elval’s aluminium rolling production unit is certified as per ISO 9001:2015, ISO 14001:2004, OHSAS 18001 and IATF 16949.

For more information, please visit: http://www.elval.com Copper segment ElvalHalcor provides its global customers with versatile and dynamic copper solutions through its copper tubes division, under the brand name Halcor, and its copper processing subsidiaries, Fitco S.A. (Greece) and Sofia Med S.A. (Bulgaria).

ElvalHalcor provides quality copper, copper alloy and brass products ranging from copper tubes for water and heating networks, air-conditioning, refrigeration, renewable energy and industrial applications, to copper sheets and strips for architectural and industrial applications.

The copper segment operates efficient manufacturing facilities in both Greece

and Bulgaria, allowing its companies to cater to the specific needs of their customers.

Halcor - copper tubes division Halcor is a leader in the European copper tubes market. The Company is the sole copper tubes producer in Greece and has a dynamic commercial presence across European and global markets. Halcor’s products are available in more than 58 countries around the world.

Halcor offers innovative and high valueadded solutions to meet wide-ranging customer demands in areas such as plumbing, heating, HVAC&R, renewable energy and industrial production. The Company has two technologically advanced production plants in Oinofyta, Greece, characterised by their ability to deliver tailor-made product solutions.

Halcor’s copper tubes production unit is certified as per ISO 9001:2008, ISO 14001:2004, ISO 18001:2007, OHSAS 18001 and ISO 5000:2011.

For more information, please visit: http://www.halcor.com.

I 129 I

CREATIVE GREECE 2018

EXPORT LEADERS Food Products Industrial

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Contact Details 23rd km Athens-Lamia National Rd, 145 65 Agios Stefanos, Attica, Greece Tel.: +30 210 3495000 Fax: +30 210 3495289 E-mail: ked@delta.gr Website: www.delta.gr I 130 I

DELTA FOODS S.A.

The Leading Greek Food Company Founded in 1952, DELTA FOODS SA (DELTA) is a subsidiary of Vivartia, the largest Food Company in Southeast Europe, and is the leading dairy company in Greece, maintaining the 1st position in almost all product categories of its portfolio. DELTA produces milk, yoghurt, chocolate milk, dairy desserts, concentrated milk, a wide variety of traditionally produced cheeses, as well as juices, energy drinks and iced tea. The company enjoys a 99% brand recognition and its products are accessible to consumers all over Greece, through more than 30.000 sales points, from large hypermarkets to small kiosks. The company is considered among Europe’s most important Dairy companies.

Some of the most recognizable brands are DELTA Fresh Milk, Small Family Farms, μμμmillk, Daily, Vlahas and Easy (milk brands), Milko (chocolate milk), Complet, Small Family Farms and Vitaline (yogurt brands), Delta cheese (including the awarded PDO feta, PDO kasseri, etc.) and Life (juices and iced tea). Advance and Smart are baby and children series of products, containing all the necessary nutritional elements for the proper physical and mental development of infants and children, thanks to their advanced formulas. All the above products are produced in its 6 plants in Greece.

DELTA production plants comply with national and international food quality management and safety standards, including ISO 9001, ISO 22000, ΕΛΟΤ 1801 and 14001, AIB Food Safety Stds, BRC, IFS, AGROCERT, HALAL etc.

DELTA invests in Greece, supporting the Greek economy and primary production.

It ranks as the largest buyer of Greek milk production in Greece, absorbing more than 25% of the total quantity of cow milk produced in Greece.

Furthermore, the company implements initiatives contributing to the sustainable development of the Greek dairy sector through academic research, and by offering training and on-site technical support to dairy farmers, while, at the same time, it promotes the production of alternative crops for animal feed. At the same time, Delta’s initiative to support young farmers, by funding specialized training to help them ameliorate their farm production and guide them to sustainable development, is also very significant.

Investments related to the quality of its products, innovation and technology have always been the cornerstones of DELTA’s development, enabling the company to lead the market over the years, create new innovative product categories and further develop nutrition standards.

DELTA’s people skills, scientific knowhow and expertise in research & development and quality control & assurance procedures, is widely recognized as a major asset. Quality Assurance and product development based on DNA technology, in a fully equipped Molecular Microbiology Laboratory, further enforce Delta’s commitment to safety. As a result, DELTA daily produces high nutrition value and exceptional quality products that consumers distinguish and choose to offer to their families.

During recent years of a tough economic environment in Greece, Delta supports the society and people in need, in collaboration with leading organizations

and foundations, giving priority to children. Furthermore, in cooperation with Universities and Schools, it provides practical training and internships to young scientists and students, and supports initiatives that aim at a wider education and training of young people. The company also supports athletic events, to promote the ideals of a healthy way of living, based on nutrition and exercise.

DELTA’s international vision is to represent Greek nutrition globally through original and innovative products of the highest quality. The export activity of DELTA is experiencing dynamic growth (40% in 2017), confirming the effective corporate strategy for development abroad.

With this being the cornerstone of its strategy, DELTA launched its genuine Greek strained yogurt DELTA that is rooted to tradition, but does so with an international appeal. DELTA participates in all major International Food Fairs and has been repeatedly awarded by the International Taste and Quality Institute (iTQi). Actually, it is the only Greek yogurt range that has all of its variants awarded by iTQi. DELTA Feta Cheese is the first and only Greek cheese to win, in 2016, the CRYSTAL AWARD by the International Taste and Quality Institute.

DELTA’s export activity with several of its products is currently spread to several countries in Europe, U.S.A., Africa and Asia.

I 131 I

CREATIVE GREECE 2018

EXPORT LEADERS Pharmaceutical Products Industrial

Dimitris Giannakopoulos Executive Vice-President & Deputy C.E.O.

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Contact Details Tatoiou Street, 18th km Athens-Lamia National Road Nea Erythrea, 146 71 Tel.: +30 210 8009111-120 Fax: +30 210 8071573 Email: mailbox@vianex.gr Website: http://www.vianex.gr/ I 132 I

VIANEX - The living history of the Greek pharmaceutical industry VIANEX is one of the largest pharmaceutical companies in Greece, not only comparative to other Greek companies, but also with the multi-nationals. With a presence of more than 90 years in the pharmaceutical industry, in many ways the Giannakopoulos family is a living history of Greek pharmaceutical production.

It all started in 1924, when the first pharmacy opened on Piraeus Street.

The first stepping stone for the creation of VIANEX was laid in 1960, when Paul Giannacopoulos founded PHARMAGIAN, an importer of medicinal products from the US, Europe and Japan that began operations across Greece. PHARMAGIAN soon became the representative of major international pharmaceutical companies, including Janssen, Roussel and Alcon, and expanded its business abroad.

The first major milestone came in 1971, when Paul Giannacopoulos, chairman and founder of VIANEX SA, building on the company’s spectacular growth, signed agreements with pharmaceutical companies of international repute, including Merck & Co (USA), Takeda Chemical Industries (Japan), Astellas (Japan), Sigma Tau Industries (Italy), Eli Lilly (USA), which entrusted the company with the production and representation of their products in the Greek market.

The company’s industrial activity started in 1977 with the establishment of its first factory, which specialised in the manufacturing of sterile, liquid, semi-solid products and suspensions.

In 1983 VIANEX acquired its second factory.

This was an innovative, environmentallyfriendly plant that specialised in the manufacturing of non-sterile solid forms (tablets, capsules, dry suspensions).

Two years later, the company enhanced its manufacturing activities with the acquisition of its third factory. The third factory is considered to be one of the largest and most modern manufacturing plants of lyophilised injectables in Europe. It includes separate production lines for sterile injectables (lyophilised, solutions, suspensions), a special plant manufacturing cytotoxic gels, while it accommodates a special R&D labo-

ratory with two pilot lyophilisers where research projects are carried out in relation to lyophilisation, as part of research cooperations with universities and research organisations.

In 1995, its subsidiary VIAN SA was founded to distribute and market well-known nonprescription pharmaceutical products, food supplements, diagnostic and parapharmaceutical products.

In 1997, VIANEX established its headquarters and the distribution centre for its finished products in Varibobi.

In 1999, the company acquired its fourth factory, considered one of the most sophisticated of the few cephalosporin manufacturing plants in Europe.

In 2006, the company incorporated ELDRUG SA, a company active in research and development, while in 2011 VIANEX was approved as a supplier by the World Health Organization and UNICEF. 2013 was another important year for the group, which, now led by Dimitris Giannakopoulos, signed an agreement with Eli Lilly for the annual production of 10,000,000 units of vancomycin and the export of 100% of that production to China.

A new cooperation between VIAN SA and

Bristol-Myers Squibb, started in 2015, among the plenty of the successful and long-lasting partnerships with firms of international reputation.

In the beginning of 2016, VIANEX signed a new multi-year agreement with MSD, renewing a prosperous cooperation that dates back more than 30 years.

VIANEX has been carrying out export activities for more than 20 years. Its global expansion has increased steadily in the past decade, placing it among the largest exporters in Greece. The company has a presence in 35 markets in Europe, Asia, the Middle East and Africa where it markets authorised products. It has obtained 48 international quality certificates (IQNET, EFQM, EU GMP, EU GDP), and VIANEX’s factories have received 32 GMP certificates from the health organisations of various countries (Japan, Turkey, Jordan, Libya, Gulf Countries, Korea, Ivory Coast, Taiwan, Tunisia, Iraq, Kuwait, Egypt and Iran). Every year, 20 large multinational firms inspect VIANEX, confirm that the quality system complies with modern international standards and subsequently approve the placing of its medicinal products on the Greek and the global markets.

Today, VIANEX leads the Greek pharmaceutical industry, with a high-level production capacity and a workforce exceeding 1,100

employees. Its activities involve all aspects of pharmaceutical production and marketing, and it constantly upgrades the range of services in the market. Despite the adverse economic conditions in recent years, VIANEX has been pursuing new, major cooperations with international pharmaceutical companies, aiming to import innovative pharmaceutical products in the domestic market.

Operating in a highly competitive environment, VIANEX is well-positioned to capitalise on opportunities, relying on its experience, know-how and its unique and specialised production capacity.

MEMBER OF GIANNAKOPOULOS GROUP

I 133 I

CREATIVE GREECE 2018

EXPORT LEADERS PHARMACEUTICALS Industrial

Boehringer Ingelheim Hellas S.A.

Innovation in medicines & leadership in exports

Dimitrios Anagnostakis, President & CEO

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Contact details Headquarters: 2 Ellinikou St., 167 77 Elliniko, Attica, Greece Tel.: +30 210 8906.300 Fax: +30 210 8983.207 Production facility: 5th Km Paiania-Markopoulo Highway, 194 00 Koropi, Attica, Greece Tel.: +30 210 6623.901 Fax: +30 210 6623.905 Website: www.boehringer-ingelheim.com E-mail: info.gr@boehringer-ingelheim.com I 134 I

Pharmaceutical Boehringer Ingelheim was established in 1885 and is now among the world’s top 20 pharmaceutical companies. The company has recently been named one of the top 100 innovative companies of all industrial sectors. Meanwhile the company is launching a new R&D strategy pledging to invest a total amount of 11, 5 billion euro over the next years.

In Greece, the firm was founded in 1966 and is considered to be a market leader among the country’s top 10 drug companies, while it has awarded several times both in Greece and abroad for its successful launches of innovative products including respiratory, cardiovascular, pain management, and recently Diabetes and oncology.

Boehringer Ingelheim Ellas is also considered to be an innovation leader as it participates actively in the parent company’s international clinical research program. Among various award,s Boehringer Ingelheim Ellas received the Prix Galien award 2017, for its innovation in the field of rare diseases.

Boehringer Ingelheim Hellas SA is the only subsidiary of a multinational company in Greece that has been posting growing sales in recent years, amidst adverse conditions in the domestic market, helped primarily by its strong exports. Notably, the firm posted a high level of 2017 sales, mainly as a result of high exports which reached 207,3 mio Euro.

The company owns its production facility in Koropi, Attica, established in 1975 setting new standards in the country’s industrial sector. Today, it is the only multinational pharmaceutical company that maintains its industrial production facility in Greece, supplying not only the Greek market but also the markets of more than 68 countries. Its export activity is of particular importance not only to the firm itself, but also to the country’s economy, as it accounts for about 1% of total Greek exports, establishing Boehringer Ingelheim Ellas as a production & exports leader.

Its parent company recently entrusted Boehringer Ingelheim Ellas with the production of innovative antidiabetic drugs at the Greek plant, aimed at covering a large part of its international production, which is a ‘first’ in the company’s history.

Such actions and investments in production and export activity by Boehringer Ingelheim Ellas – with exports being its strong asset, stand proof of the confidence shown by the German multinational and its intention not only to upgrade its Greek subsidiary, but also to support and boost Greek exports.

Boehringer Ingelheim Ellas’ initiatives for Greece’s economy are summarized in the triptych: “We Invest, We Grow, We Support.” Boehringer Ingelheim has invested in Greece within the years of crisis almost 100 mio Euros, proving its sustainability profile.

Last but not least, the firm’s human resources, more than 450 people, comprise leading scientists and sector professionals with the required skills, education and experience to implement its objectives and promote its vision, “Value through Innovation”.

CREATIVE GREECE 2018

The First Insurance Co. in Greece

EXPORT LEADERS Insurance Commercial

Pantone 287 Pantone 185 Pantone 423

Established in 1891, Ethniki Insurance is the oldest insurance company in Greece, being the leader of the Greek Insurance industry and a powerful reference point in the public consciousness. The Company’s name has become synonymous to real assurance and incorporates the timeless values of reliability, ethos, safety, trust and respect.

Ethniki at a glance ●M ember of NBG Group - 100% owned by the National Bank of Greece. ●A dopts a Customer-oriented philosophy, with continuous measurement of customer satisfaction, research and development of services & new products. ● I mproves its infrastructure to provide quality services.

●P ays claims to insured members of more than € 1 million per day. ●H as over 1,000,000 policyholders. ● L istens actively to customers needs for modern and competitive insurance policies that can be easily acquired. ●C overs every client need, with modernize and dynamic sales network consisting of 153 Line offices staffed by 2,082 insurance consultants and 1,484 co-operating Broker offices across Greece. ● S upports the Education, Arts & culture and the Environmental sustainability by contributing to local initiatives.

Christoforos Sardelis, Chairman of the Board of Directors

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Contact Details 103-105 Sygrou Avenue, 11745, Athens, Greece Tel.: +30 2130318189 Fax: +30 2109099111 Website: www.ethniki-asfalistiki.gr I 135 I

CREATIVE GREECE 2018

EXPORT LEADERS Industrial

CorInth PIpeworks

A leading steel pipe supplier of the global energy industry

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Contact Details e-mail: info.cpw@viohalco.com website: www.cpw.gr I 136 I

Corinth Pipeworks is one of the largest steel pipe manufacturers in Europe with a leading position in the global energy industry.

Following a cross-border merger by absorption by Cenergy Holdings SA of the Greek formerly listed companies Corinth Pipeworks Holdings S.A. and Hellenic Cables Holdings S.A. in December 2016, Corinth Pipeworks is a subsidiary of Cenergy Holdings SA, a Viohalco company. The Cenergy Holdings portfolio consists of companies positioned at the forefront of high growth sectors, such as energy, telecommunications and construction with a strong financial position, a track record of success and a promising future.

Corinth Pipeworks began operations in 1969 and has since established itself in the production of medium and large diameter steel pipes for the transmission of oil, gas, and water, as well as the manufacturing of hollow sections for use in building and construction. The company offers reliable and technically sophisticated energy and construction solutions to demanding customers worldwide.

Corinth Pipework’s clients include Chevron, BP, BG, Shell, DEPA, DESFA, OMV, Gas Connect, Wintershall, Snam, National Grid, RWE, Spectra Energy, Energy Transfer, Williams, Denbury, ENI, Kinder Morgan, DCP Midstream, Plain All American, McJunkin, Spartan, EPCO, Spectra, Enbridge, Cheniere Energy, Talisman, STEG, Sonatrach, PDO, OGC, Saudi Aramco, ADNOC, SCOP, Socar, EXXON MOBIL, EDF, TIGF, QP, GRTGAZ, GASCO, PEMEX, Saipem, Allseas, Subsea 7, Technip etc.

Our vision is to be the pipe producer of choice, to maintain our dedication to delivering energy to the world, to grow sustainably and set standards of excellence, to refine our quality, to invest and further develop our technical knowledge while expanding our capabilities, to increase

our efficiencies and add exceptional value for customers. We deliver solutions to challenging projects with professional integrity while developing successful business relationships through mutual trust and respect. Our aim is to provide a fulfilling and rewarding environment for our people and to serve and support our community while maintaining a solid financial performance.

Corinth Pipeworks product portfolio Corinth Pipeworks produces high quality steel pipes for oil, gas, CO2, water and slurry pipelines, as well as casing pipes for

drilling operations. The Group also produces a wide range of structural hollow sections for the construction sector. Its long history of innovation and ‘one-stopshop’ integrated services has designated Corinth Pipeworks’ position as one of the world’s top steel pipe suppliers.

The Group’s three main product categories are: ● Line pipes: Manufactured either in the Group’s high frequency induction welding unit (HFW),the helically submerged arc welding unit (HSAW) or the longitudinal submerged arc weld-

ing unit (LSAW) the primary uses of line pipes are in oil, gas, CO2 and water transportation networks. ● Casing pipes: These high-frequency induction welded pipes (HFW) are used in oil and gas extraction drills. The product range offered for this application has been expanded by the installation of the new LSAW mill. ● Hollow structural sections: Used in the construction sector.

Services ● Internal

and external coating of pipes produced by other pipe manufacturers

● Accredited

laboratory for raw material and pipe testing, in accordance with ΕΝ/ISO 17025 ● In-house corrosion testing laboratory for sour service applications ● Weld on connector facilities for casing pipes ● Pipe storage ● Supply of pipes or assignment of pipe coating outside the Group’s product portfolio to third party authorised subcontractors, in the context of major project implementation ● Pipe transportation

I 137 I

CREATIVE GREECE 2018

EXPORT LEADERS MISCELLANEOUS Industrial

BIC VIOLEX SA

“Made in Greece” razor blades exported around the world

Dimitris Pisimisis, Chief Executive Officer

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Contact details 58 Ag. Athanassiou St., Anixi 145 69, Attica, Greece Τel: +30 210 6299000 Fax: +30 210 6216808 Website: http://gr.bicworld.com/ I 138 I

BIC, one of the most recognized brand names in the world, specializes in the manufacturing, distribution and selling of consumable products in 160 countries all over the world. VIOLEX launched its operations in 1952 as a small family-run business owned by the Politis family, manufacturing shaving razor blades. In the 1970s, Anastassios Politis joined Violex’s forces with the French group BIC, which had made major impact with its disposable ballpoint pen. Violex remained a Greek firm, and was renamed BIC Violex. In 1999, the firm was acquired by BIC group but BIC VIOLEX remained a purely Greek firm. The company is now globally managed by Greek executives, while its products are 100 percent made in Greece. BIC Violex SA is headed

by CEO Dimitrios Pisimisis.

Today, BIC Violex serves as the international centre for the BIC group’s razor blades division, employing a staff of 1,200. Seventy percent of BIC’s razors for global market are designed and manufactured in Athens. Therefore, it can be asserted that an entirely Greek product dominates markets in all five continents. Essentially, production procedures of all of BIC’s razor blade shaving products begin in Greece, by a Greek firm that maintains four production facilities in the wider Athens district of Anixi, where the products are designed and manufactured. The location is also home to BIC’s R&D department. The France-based parent company, Société BIC SA, produces writing products, lighters, and razors with sales in 160 countries covering all continents, from developed to developing markets. Its BIC products are available at as many as 3.2 million retail outlets, while 9,200 persons are employed by the company worldwide.

The company is the world’s No. 1 in branded pocket lighters. In disposable razors, it holds second position in the US, Europe and Latin America. Bic is also the stationery market leader in Latin America, Europe, Africa, and India.

The group in 2017 reported steady sales of 2.020 billion euros compared to 2.025 billion euros a year earlier. The North American market ranked first in sales, with 783.5 million euros, even though recording a drop of 3.5% compared to 2016. Developing markets, second place, posted total sales of 677.4 million euros, up 1.3%. The European market also reported a rise in sales by 2.7% to 559.3 million euros.

The product category with the largest contribution to turnover was that of stationery (worth 791.8 million euros), followed by lighters (703.9 million euros), shavers (454.4 million euros) and other products (70.2 million euros).

The Greek company in 2016 reported total sales of 202 million euros, with earnings before tax amounting to 40.7 million euros. In the same year, BIC VIOLEX invested 43 million euros mainly in mechanical equipment to increase production capacity, produce new products, improve the production process and acquire new technology.

The company’s sales in the Greek market rose by 12.2%, although exports dropped by 4.5%.

The company supplies the Greek consumer market with the main categories of goods of the BIC group which include stationary, lighters and shavers, as well as other goods such as shaving foams, tights and stockings.

CREATIVE GREECE 2018

EXPORT LEADERS Food - Dairy Products Industrial

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FAGE DAIRY INDUSTRY S.A.

The ambassador of Greek yogurt FAGE’s story begins in 1926 with a first dairy shop in Athens, Greece which became known for its delicious, creamy, one-of-a-kind yogurt. This dairy shop was established by the family of Athanassios Filippou, the grandfather of FAGE’s current CEO and Chairman of the Board. In 1954, under the guidance of his father and FAGE founder Athanassios, Ioannis Filippou helped create the first wholesale distribution network for yogurt in Greece. By 1964, Ioannis and his brother Kyriakos opened the company’s first yogurt production facility in the Athens suburb of Galatsi.

Nowadays, FAGE is a leading international dairy company with a focus on yogurt, holding the leading position in the Greek yogurt market. FAGE manufactures, distributes and sells a wide range of dairy products, including yogurt, dairy desserts, milk, cream and cheese. The company has three facilities in Greece that serve all of the markets outside of the Americas and have the capacity to expand their production to accommodate expected increases in demand in the United Kingdom, Italy, Germany and other international markets. It also owns distribution units in the United Kingdom, Italy and Germany and a comprehensive distribution network in Greece. FAGE products are distributed to approximately 300 supermarket chains, with approximately 50,000 retail outlets in over 44 countries, primarily in the United States and throughout Europe. They are also sold to bakeries, confectionaries, dairy stores and other convenience stores. FAGE’s workforce of some 1,000 qualified full-time employees puts its own personal mark on every stage of the production process.

FAGE has a significant and constantly increasing presence in the US yogurt market, with growing international sales also outside of the United States. The company’s US facility, located in Johnstown, New York commenced commercial production in April 2008 and is among the largest of the facilities in terms of production capacity as it manufactures yogurt products for the US market and the rest of the Americas. In 2016, the company decided to withdraw from the milk market with a view to focusing on the yogurt category to meet the needs, mainly in foreign markets, as in 2015 foreign sales accounted for 82.4% of FAGE’s total turnover.

In 2016, the company posted a drop is sales to 159 million euros against 182 million euros a year earlier; it recorded losses of 10.3 million euros compared to profits of 1.7 million euros in 2015. In the first nine months of 2017, the dairy company invested 56.3 million euros in a new production facility in Luxembourg (36.8 million euros), while 15.7 million euros were spent as capital expenditure to expand facilities in the US, and 3.8 million euros were tunneled in the Greek factory. In the first nine months of 2017 sales amounted to $482.4 million, down 4.8% compared to the corresponding period in 2016. The drop in turnover was primarily attributed to an 8.5% drop in sales, and to a lesser extent to the weakening of the sterling against the dollar.

In Greece, the volume of sales declined by 23.1% in the nine months from January to September 2017, but this was attributable mainly to the fact that FAGE was no longer active in the milk segment. In addition, FAGE points out in its financial report that its sales in the Greek market have also decreased due to the fact that the company has reduced its supply of products to inconsistent customers. Finally, FAGE sold the Amynteo plant and equipment to other companies.

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Contact Details 35 Ermou St., 14452, Metamorfosi, Attica, Greece Τel: +30 210 2892555 Fax: +30 210 2828386 Website: http://greece.fage.eu/ I 139 I

CREATIVE GREECE 2018

EXPORT LEADERS PHARMACEUTICALS Industrial

Pharmathen SA

Cutting-edge innovation and strong extroversion

Vassilios Katsos, President

Nellie Katsou, Vice President

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Contact details 44 Kifisias Ave., 151 25 Marousi, Athens, Greece Tel.: +30 210 6604.300 Fax: +30 210 6666.749 E-mail: info@pharmathen.com Website: www.pharmathen.com I 140 I

Established almost 50 years ago, Pharmathen SA, a domestic enterprising model of a multinational company, in the past three years developed new technologies and established strong strategic partnerships with major international pharmaceutical companies, reinforcing its presence in the international markets.

The company left its mark on the world map of innovation in the pharmaceutical industry with a major achievement by its research and development of innovative healthcare products segment, with the development of the Long Acting Injectable (LAI) technology.

The LAI technology is applied to a range of products and actively contributes to improving the patients’ quality of life, as through the progressive release of the drug in the body, injection treatments can be reduced. The development of this innovative technology has led to an agreement with a major US pharmaceutical company for worldwide marketing of two LAI products. But this is not the only strategic alliance for Pharmathen.

Pharmathen views research and development as being interrelated. The firm has already invested an additional 10 million euros solely in its Sapes factory, north-eastern Greece, which will take care of manufacturing, commercial production and distribution of LAI drugs, while an additional 15 million euros investment are planned for the following year at the facility. Pharmathen ranks among the top 50 pharmaceutical companies in the EU, based on investments in research. According to company forecasts, in the period 20152020 investments in R&D for pharmaceutical products will exceed 120 million euros.

The company employs a staff of more than 1100, having doubled its workforce in the past five years. Its export business accounts for about 1% of total annual Greek exports. It boasts a portfolio of more than 90 international patents, comprising original and generic drugs and pharmaceutical products, as well as many awards at national and international level.

Pharmathen operates three ultramodern research laboratories and two industrial units, while engaging in the entire medicine range, from development to distribution of pharmaceuticals in more than 85 countries worldwide. Company offices were recently opened in Jordan and Australia, while the firm also gained permanent representation in South America, reinforcing its growth momentum in the specific regions. In addition, its products are approved in all EU markets, in cooperation with more than 200 global pharmaceutical companies.

CREATIVE GREECE 2018

EXPORT LEADERS Paper Products Industrial

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MEGA DISPOSABLES SA

From inspiration to innovation MEGA Disposables SA is one of the largest manufacturers of disposable hygienic products in Europe. By constantly investing in stateof-the-art production and quality control equipment and experienced professionals, MEGA today is in the valuable position to possess sophisticated technologies and expert know-how in an ideal combination that helps it edge ahead of the competition while fostering innovation for its future success. ● S tate-of-the-art technology ● I nnovative product design with distinct Unique Selling Proposition ● P ioneering production techniques ●A dvanced Quality Assurance Systems ● C ontinuous investment in consumer research ● I mpactful marketing support OUR SPECIAL APPROACH TO PERSONAL HYGIENE The primary basis of our business model is our product portfolio. We produce, market and sell to customers innovative brands, while we have built a special, strong relationship of trust with consumers.

All products are designed on the principle of offering a tested safe protection to the consumer.

Thus, they do not merely deliver high absorbency of performance, but are also designed with materials of exceptional skin-friendly properties, to ensure the utmost respect to the needs of the skin.

Woman: Sanitary napkins, pantyliners, cotton discs, make-up removal wipes, intim wipes, intim wash.

We have been consistently following the changing needs of the modern woman. With a view to best respond to the women’s needs, we have developed a complete range of feminine hygiene products with excellent quality and innovative product features.

Baby and child: Baby diapers, baby pants, baby wipes, antiseptic wipes for children.

All of our baby products have been designed on the basis of on-going research on mothers’ insights, study of the specialized needs of the sensitive baby’s skin, as well as close monitoring of technological developments in the field of baby hygiene.

The elderly: a full range of incontinence products (light inco pads, pants, briefs, bedpads).

Our incontinence product line has been specially designed to offer a complete protection, combining top absorbency levels with skin-friendly materials, thus ensuring sensitive care to the delicate skin of incontinence product users.

The entire family: Cotton wool, cotton buds, antibacterial wipes, wipes for cold relief and other specialty products.

We produce a wide range of soft products made of skin-friendly materials, for every day family personal hygiene.

Private labels MEGA is Greece’s biggest provider of personal hygiene private labels.

Contract Manufacturing Top quality standards and innovative product design have formed a solid foundation of trust for the company’s ability to deliver, prompting several prominent international brands to turn to MEGA Disposables as their preferred partner of choice for their bespoke production needs.

Awards – Distinctions ●H onorary distinction of «Ruban d’ Honneur Imports/Exports» at European Business Awards ● T op Greek Export Company at Greek Exports Awards 2016. ● “ True Leader” of the Greek economy for the 7th consecutive year by ICAP Group ●G rowth Award in the category Functional/Operational improvement ● “ Diamond of the Greek Economy” for the 6th consecutive year by Stat Bank ● T op Distinction for Babylino Sensitive diapers at “Made in Greece Awards” ●G OLD award for the category «Increse of Sales/ Shares of Products - Non Food» for baby diapers Babylino Sensitive by «Self Service Excellence Awards» ●D ouble Distinction at Hellenic Responsible Business Awards 2018 ●D istinction for Waste Management Program, at Waste & Recycling Awards 2017 ● E nvironmental Awareness Ecopolis Award ● “ Supplier of the Year” at Lighthouse Retail Business Awards

Contact Details 148 Dekelias St., 13678 Acharnes, Greece Tel.: +30 210 2419800 Fax +30 210 2419818 Email: mega@megadis.gr Website: http://www.megadis.gr I 141 I

CREATIVE GREECE 2018

EXPORT LEADERS Cosmetics Industrial

SARANTIS GROUP

A bright example of business excellence

Kyriakos Sarantis – Vice President and CEO

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Contact details 26 Amarousiou-Halandriou Ave., 151 25, Athens TEL: +30 210 61 73 000 FAX: +30 210 61 97 124 Website: http://www.sarantisgroup.com/en/ I 142 I

Sarantis Group is a Greek multinational with presence through subsidiaries in Europe, and significant export activity worldwide. With more than 50 years of operation in Greece, Sarantis Group has become one of the leading suppliers in the Fast Moving Consumer Goods (FMCG) market, as well as in health and care products.

The Group, in spite of tough conditions in the business and financial environments, has enjoyed a striking track record of double-digit growth rates, both in terms of sales and net profits, while managing to generate liquidity and net cash flow to replenish its growth and to finance investment plans.

In 2016, the group recorded spectacular sales growth of 18%, reaching 330 million euros; EBITDA rose to 36 million euros, up 21% compared to a year earlier; and, net profits jumped 25% to 24.5 million euros. In the first half of 2017, the Group’s consolidated sales amounted to 168.07 million euros compared to 159.64 million euros in the corresponding six-month period in 2016, recording an increase of 5.28%. EBITDA increased by 7.15%, to 15.95 million euros, and the EBITDA margin stood at 9.49% (from 9.32% in the first half of 2016). It should be noted that foreign countries accounted for 61.05% of total sales of the group, up by 5.72% to 102.60 million euros.

All product categories and geographical areas of the Group are recording significant growth, as the continuous renewal of the product portfolio and new additions, coupled with the communication and marketing strategy, help increase brand awareness and further strengthen the presence of its distribution channels in all the countries where the group operates.

The Group’s product portfolio includes over 80 well-known brands that are milestones in their classes. Noxzema, Carroten, Bioten, Orzene, Str8, BU, C-Thru, Prosar are some of the company’s own products that are highly recognizable and enjoy significant market shares.

In addition, through exclusive distribution agreements, the group trades strong brands, such as La Prairie, Prada, Nina Ricci, Cartier, Carolina Herrera, Trussardi, Pupa, Johnson & Johnson, Coppertone, Denim, etc.

The health and care sector of the group is active in the field of vitamins, dietary supplements, pharmacy diagnostics and cosmetics, and represents and produces leading brands with leading positions, such as Lanes, Bio Oil, Clearblue, Pic, Solene and Ortis. The primary objective of the healthcare and care sector is to continuously strengthen the leadership position in its strategic categories of activity through brand upgrading, investments towards the end-user, pharmacy and specialist training and development of sales outlets.

Estee Lauder products have also been added to the firm’s products through a joint venture between the Group and Estee Lauder Companies.

The Group’s international presence includes nine (9) subsidiaries in European countries - Poland, Romania, Bulgaria, Serbia, Czech Republic, Hungary, Macedonia, BosniaHerzegovina, Portugal, as well as exports to more than 35 countries.

The Group’s vision is to be a leader in the production and marketing of consumer products, which is achieved by meeting the needs of consumers with high quality products at affordable prices. The daily relationship with the purchasing public is a source of responsibility and, at the same time, the main competitive advantage of the Sarantis Group.

Effective product portfolio management plays a key role in this direction.

Always in the direction of quality and innovation, continuous investments are being made to create new products, enter into dynamic categories, buy products or companies, and new exclusive branding agreements for international brands.

The group’s most important investment, however, remains its focus on the human potential, which is the foundation stone and its driving force.

CREATIVE GREECE 2018

EXPORT LEADERS PLASTICS - RUBBER Industrial

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PLASTIKA KRITIS SA

Exporting products to more than 60 countries around the globe Founded in 1970, PLASTIKA KRITIS is one of Greece’s largest plastics manufacturers and among Europe’s leading producers of masterbatches and agricultural films. Production of masterbatches began in 1980. Commitment to quality, technological innovation, cost competitiveness, flexibility and responsiveness to customer requirements have enabled PLASTIKA KRITIS to be an outstanding masterbatch supplier, with more than 50% of its production exported to 60 countries around the globe. The company’s manufacturing facility in Iraklion, Crete is among the most modern in its fields of activity.

Specifically, the company specializes in the production of: master batches & compounds (KRITILEN®); multilayer plastic films for agricultural applications (KRITIFIL®); geomembranes (KRITIFLEX®); polyethylene pipes (KRITISOL®); recycled plastics (KRITISAN®); and, renewable energy (KRITIRES®). Products serve the horticultural & agricultural markets, the plastics industry and projects related to watermanagement & environmental protection. PLASTIKA KRITIS also owns and operates a 12-MW Wind Park and 340-KW of Photovoltaic Stations in Greece, generating electricity that secures competitive energy sources for the company.

With six affiliate companies strategically positioned in high growth areas, the company also produces masterbatches in Romania (Romcolor 2000 SA), Poland (Global Colors Polska SA), Turkey (Senkroma SA) and Russia (Global Colors ZAO). It also produces agricultural films and geomembranes in China (Shanghai Hitec Plastics) and France (Agripolyane SA).

In 2016, the group posted sales of 274 million euros, with net profits of 29 million euros. In the first half of 2017, consolidated sales rose to 147.7 million euros compared to 134.47 million euros in the first half a year earlier, wile net profits fell slightly to 13.73 million euros against 14.47 million euros.

During the period under review, the Heraklion plant posted sales of 72 million, followed by China (33.7 million euros), France (15.5 million euros), Romania (11 million euros), Poland (10 million euros), Russia (6.68 million euros), and Turkey (6.2 million euros). A decline in consolidated profits is attributed to the loss-making results in Russia and Turkey, which were not the result of operational losses but of exchange differences. The parent company in Heraklion employs a staff of 374, with total staff including its subsidiaries abroad reaching up to 976.

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Contact Details R St., Irakleio Industrial Area, 715 00, Irakleio, Greece Tel.: +30 2810 308500 Fax: +30 2810 381328 E-mail: info@plastikakritis.com Website: www.plastikakritis.com I 143 I

CREATIVE GREECE 2018

EXPORT LEADERS PHARMACEUTICALS Industrial

DEMO SA

More than 50 years of dynamic presence in Greece and the world

Dimitrios Demos, Vice President

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Contact details 21st km Athens-Lamia National Road, 14568, Krioneri, Attica Tel.: +30 210 8161802 Fax: +30 210 8161587 E-mail: info@demo.gr Website: http://www.demo.gr/ I 144 I

Pharmaceutical firm DEMO SA is an international industrial and commercial organization active in the development, production and promotion of pharmaceutical products. The company’s plant in Kryoneri, Attica, is the largest in South-eastern Europe, with stateof-the-art facilities of 45,000 m2, including a highly advanced 1,500m2 Quality Control Laboratory. DEMO is Greece’s top company in terms of hospital sales (in number of items), in injectable products of all forms, and has an extensive research and development program for controlled-release injectables. In the private market, the company’s portfolio consists of general prescription drugs, as well as cardiology, urology, pneumonology, gastroenterology and OTC. To date, DEMO is the first and sole manufacturer of plastic ampoules in Greece, and operates the country’s latest machinery in serum production. Over the past three years, an investment of 35 million euros has been launched to further modernize machinery and expand production and storage facilities.

DEMO, with its own branded products accounting for up to 81% of its total production, has a presence in 84 countries worldwide, in Europe, Asia, Africa, South America and Oceania; the firm enjoys market shares of up to 40% in many countries for several years. The firm is also active in Germany since 2015 with a subsidiary, while it operates several branches in China since 2013, and aims to create seven more branches in various other countries. At the same time, DEMO is an official supplier of medicines to the United Nations, UNICEF, World Health Organization, MSF and the International Committee of the Red Cross.

Numerous reputable agencies from other countries, such as PIC/S (with members including countries from Europe and Asia, as well as Australia, Argentina, etc.), the Korean-FDA, the Brazilian Drug Agency (ANVISA), the GCC (Health Minister’s Council for Gulf Cooperation Council States), and the health authorities of countries such as Jordan and South Africa, are constantly certifying DEMO products. Such international success comes as a corollary to the hard work of the Quality Assurance Department, which monitors all production and control activities, ensuring DEMO’s rigorous compliance with internationally applied standards, and successfully passing the difficult approval tests for the license circulation of formulations, which currently exceed 1,700.

In a tough and disorganized era for investment in Greece, DEMO is going ahead with the construction of a 4th production facility in Kryoneri, expanding over 12,000 square meters, with new machinery to dramatically increase production. In terms of personnel, DEMO in 2011 employed a staff of 500, growing to more than 850 in 2017. Finally, the company applies a comprehensive social responsibility program focusing on man and vulnerable social groups.

CREATIVE GREECE 2018

EXPORT LEADERS PHARMACEUTICALS Industrial

Theodoros Tryfon, Vice President

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ELPEN Pharmaceuticals: Investing in the science of life Who we are For over 50 years, ELPEN pharmaceuticals develops and produces high quality originator and generic medicinal products for the Greek and international markets. Today, ELPEN is the leading Greek pharmaceutical manufacturer in the domestic market and occupies 7th place among 250 companies presently active in Greece, both domestic and international.

Our vision is to offer pharmaceuticals of high quality standards at affordable prices and to increase our social contribution towards the community.

We strive to improve health, adhere to the highest quality standards and responsibly provide the scientific community with substantiated, accurate information.

What we do We take pride in our continuous efforts to create added value for our country and the Greek pharmaceutical industry by: ● S ystematically investing in Greece’s human capital and capacity to innovate ● S ignificantly enhancing the Greek economy’s competitiveness and sound international profile through large-scale exports to more than 40 countries, long collaborations with highly esteemed international companies and successful operations of our German subsidiary, ELPEN GmbH ● S trongly supporting the continuing education of the European scientific community in our certified Training, Research & Experimental Center, one of the largest in South-East

Europe

● K nowingly contributing to the country’s ef-

fort to generate growth through domestic investment and consumption by offering high quality medicines at affordable prices Our medicines The therapeutic value of our products lies on our constant focus on quality. We apply international standards (Eudra GMP & GDP, ISO 9001:2008) and national guidelines on all our operations. Moreover, we successfully undergo a great number of audits every year by International Authorities, Auditing Bodies and clients, who evaluate our premises and operations according to Non-EU Guidelines of Good Manufacturing Practices, e.g. Saudi FDA GMP (SFDA) and Jordan FDA GMP (JFDA).

Our products fall within the following therapeutic categories: ● C ardiovascular ●H ematological ●A ntithrombotic Agents ● R espiratory ●G astrointestinal ●N eurological ●U rinary ●O steoporosis ●A nti-cough ●A ntibacterial/Antibiotic/Antiviral ●A nti-inflammatory (Non-steroidal) ●A ntidotes ●H ormonal Contraceptives.

We take pride in the Elpenhaler® product, the novel, patented dry power inhaler invented by ELPEN’s founder, Dimitrios Pentafragkas. Considered as a highly effective treatment for lung diseases such as asthma and COPD, Elpenhaler® led to ELPEN being the first pharmaceutical company to have ever received European marketing approval of a generic fixed-dose combination inhaler.

How we grow We aspire to grow in Greece and the international markets through our strategy to: ●D edicate significant human and financial resources to R&D ● I nvest in Value-Added Medicines ●A im to enter new therapeutic areas and technologies ● I nvest in new strategic collaborations with local and international companies.

Contact Details 95, Marathonos avenue, 19009, Pikermi – Attica, Greece Tel: +30 210 6039326-9 Fax: +30 210 6039300 E-mail: info@elpen.gr Website: http://www.elpen.gr I 145 I

CREATIVE GREECE 2018

EXPORT LEADERS Industrial

CABLEL HELLENIC CABLES

A leading European producer of reliable and competitive cable solutions

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Contact Details e-mail:info@cablel.vionet .gr website: www.cablel.com I 146 I

The Cablel Hellenic Cables represents the cable production and marketing segment of Cenergy Holdings, a Viohalco company and is one of the largest cable producers in Europe. The Company started its activities in 1950 as a Viohalco plant and in 1973 it was incorporated as an independent subsidiary under the name Hellenic Cables, expanding its production and trade operations.

Today, the Cablel Hellenic Cables consists of Hellenic Cables S.A. which operates three plants in Viotia, Greece that produce cables, enamelled wires, plastic and elastomer compounds; the Fulgor S.A. plant in Corinth, Greece, which manufactures power cables, submarine cables and copper wires and Lesco Ltd, a wooden reels and pallets plant in Blagoevgrad, Bulgaria.

With a strong export orientation and focus on development of value added products, such as high and extra-high voltage land and submarine cables, the Company makes significant investments towards enriching its product portfolio and enhancing its sustainability profile. In 2012, the Company completed a EUR over 65 million investment plan for the manufacture of high-voltage and extra high-voltage submarine cables in Fulgor’s plant.

The Company s wide product range, which is sold internationally under the Cablel® trademark, extends to submarine cables up to 400kV, PVC, EPR and XLPE insulated power cables (rated up to 500kV), marine and low smoke halogen free cables, fire resistant cables, telecommunication, signal and data cables with copper conductors or optical fibres, as well as fire retardant halogen free plastic and elastomer compounds and enamelled wires. Wires and cables are supplied to a variety of international standards, such as VDE, CEI, NF, SEN, BS, UL, NEMA, JIS, ASTM, DIN and ELOT. Many of the Company’s products are certified by ELOT, BASEC, VDE, IMQ, NF-USE, NETWORK RAIL, KEMA, DNV and UL. Cablel Hellenic Cables business activities are based on the implementation of certified management systems ensuring a responsible and continuous development.

Environmental responsibility and occupational health and safety are the most important pillars towards sustainable development.

Technical know-how is combined with continued investment in state-of-the-art machinery to ensure levels of efficiency and quality which meet the strictest standards.

Commitment to quality and sustainable development has been a key factor in enabling Cablel Hellenic Cables to establish a strong market position internationally. The Company’s highly experienced technical and managerial staff have a strong commitment to technological excellence and outstanding quality, which ensures that users of Cablel® products have made a reliable choice.

The Cablel Hellenic Cables aims to constantly improve its offering and respond swiftly to changes in customer needs around the world with reliable, safe products, based on environmentally-friendly technologies.

At the same time, the Company places strong emphasis on the development of its people and the creation of value for its shareholders, partners and the communities in which it operates. Looking ahead, the Company plans additional investments in technology and innovative cable solutions as a way of contributing to the creation of a sustainable future for its stakeholders.

Cablel Hellenic Cables product range ●P ower cables (land and submarine) ● I ndoor installation cables ●C ontrol cables ● I ndustrial and outdoor installation cables ●F ire retardant, fire resistant, halogen-free cables ●C opper conductors for grounding applications and overhead Cu, Al and ACSR conductors ●S hip and marine installations fire resistant cables ●C opper and aluminium rods Telecommunications and data transmission cables ●G auging and control cables ●C opper conductor cables: Conventional telephone cables - Telephone exchange cables - Data transmission cables – High frequency telephone cables ●O ptic fibre cables (single-mode &multimode): Underground dielectric cables, in tubes - Underground dielectric cables, directly buried (steel reinforcement) Underground dielectric cables, featuring rodent protection - Indoor installation LSZH cables (central tube or tight buffered) ●A erial installation cables (“8”-sized or

ADSS)

●S ignalling and railway signalling cables

Submarine cables ●M edium voltage, high and extra high voltage cables ●C omposite medium voltage, high and extra high voltage cables with integrated optic fibre cables ●O ptic fibre cables ●U mbilical cables ●S ubsea flexible pipes Plastic and elastomer compounds

●P VC-based plastics ●P olyolefin-based plastics ●E lastomers

Enamelled wires

●W inding wires for electric motors and

transformers ●C opper wires for grounding earthing and canmaking Applications: Cables are used in:

●B uildings ●O utdoor installations and industrial

applications

●T ransmission and distribution networks ● I nstallations with special requirements ●S hips and marine applications ●T elecommunications and data

transmission networks

●R enewable energy sources ● I sland - continental system

interconnections

●O ffshore wind park interconnections

Enamelled wires are used in:

●T ransformers ●M otors – generators ●S mall motors ●R elays – coils ●S elf-supporting windings-avoids varnish

impregnations

Compounds are used in:

●C able industry ●P roduction of soft water pipes ●P roduction of flexible spiral pipes ●P roduction of hard flexible pipes for

electrical applications

●R ubber and plastic soles

●F lexible elastic and plastic profiles

Turnkey solutions Cablel Hellenic Cables has the necessary know-how to develop and offer turnkey solutions that meet specific demands of its customers. The Company provides: ●D esign and manufacture of products according to customer requirements and project specifications ●P rovision of special equipment needed for cable connections and termination of cable ends ●T ransportation and installation of cables at the project site ●C ivil works required for installation and protection of cables ●T esting, initial operation and delivery of the system to the customer (commissioning) ●F ull project management ●C ustomer staff training in system operation and maintenance ●P rovision of maintenance / support to the customer

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CREATIVE GREECE 2018

EXPORT LEADERS Industrial

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The leading producer of steel products in South East Europe With more than 55 years of steel industry expertise, Sidenor, Stomana Industry and their subsidiaries are reliable partners offering high quality and innovative solutions to their world-class customers.

Sidenor Group is a leading producer of steel products in South East Europe.

Its extensive product portfolio, which includes long and flat steel products, and downstream products, is manufactured across nine facilities in Greece, Bulgaria, Romania, FYROM and Australia. Project locations span Germany, Romania, Balkans, Algeria and Israel. Sidenor Group is truly a global supplier.

Product portfolio Sidenor Group provides a full range of solutions in the steel sector, to cater to the complex needs of its clients worldwide.

The key features of the products of Sidenor Group are: ● outstanding quality ● strict adherence to applicable standards and regulations, and ● innovative characteristics, which provide customers and end consumers with added value.

The products of Sidenor Group are mainly used in major technical – construction works, in various industrial applications, in shipbuilding, in the automotive industry, in the energy production sector, etc. The product family is structured as follows: SD integrated reinforcing system: The SD integrated concrete reinforcing system represents the approach of Sidenor Steel Industry when addressing significant demand for high ductility steel provided for increased construction quality. The system consists of SD concrete reinforcing steel, SD stirrup reinforcing mesh, Sidefit special mesh, SD wire mesh, Sidefor and Sidefor Plus prefabricated stirrup cages, Inomix steel fibres and lattice girders.

Wire rod: Wire rod of S.A.E 1006, 1008, 1010 grades, RSt37-2 electrode quality, in cross sections from Ø5.5 to Ø16.0, which is suitable for a wide range of size reduction

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Contact Details e-mail: info@sidenor.vionet.gr website: www.sidenor.gr I 148 I

SIDENOR, STOMANA INDUSTRY AND THEIR SUBSIDIARIES

applications and meets all low-carbon wire production needs.

SBQ-Special steels: Hot-rolled round bars (diameter: 30-120mm) and peeled turned and polished round bars (diameter: 32115mm) used in the automotive industry and in various industrial applications.

Steel plates: Manufactured in accordance with the EN and ASTM European and American standards and also more specific certifications for shipbuilding, boilers, etc. Plates are intended for general construction purposes, shipbuilding, manufacturing of tanks, pressurised boilers, bridges, coach works, pipes, agricultural machinery, machinery components etc.

Merchant bars: Sidenor produces a wide range of merchant bars covering the various needs of its customers. Its portfolio of merchant bars consists of hot-rolled square bars, hot-rolled flat bars of rectangular cross-section, hot-rolled round bars of circular cross-section, hotrolled equal angle bars with round edges, I-section beams (IPE), and UPN channels.

Steel balls for grinding: Steel balls for grinding are produced in various diameters ranging from 60mm to 100mm. They are used for grinding in ore grinding mills in metal mining. To optimise its function for a specific metal, different hardness levels of the product can be used.

THN Mining profiles: THN mining profiles have been developed for use in the production of steel arches for public works and underground mines, as well as formworks for tunnels. The use of THN profiles in tunnel and roadway support provides higher resistance and a yielding support.

Boron flats: Boron steel flats are utilised where high strength, impact resistance, good bendability and weldability are required. Hot-rolled boron flats are used in the fork-lift industry in the production of lifting forks.

Welding products: Erlikon produces a complete range of welding electrodes

and wires. Its steel products cover a wide range of welding, hardfacing and cutting applications. The quality offered meets the strict requirements of the construction and shipbuilding sectors, raw materials and power industries, as well as the chemical and food industries. Various types of electrodes and welding wires are made available for non-alloyed and low-alloyed steels, fine-grained structural steels, hardfacing, heat-resistant steels, stainless and heat-resisting steels and also for cast iron and aluminium.

Wire products: Wire products are manufactured by the subsidiary Erlikon Wire Processing S.A. (Erlikon) and used in a variety of applications. The wire products produced by Erlikon are divided into the following categories: - Black soft and hard wires - Common soft galvanised wires, semihard and heavily-galvanised wire under the trade names Syrgal, Syrgal Hard and Extragal, respectively - Welded galvanised mesh in rolls and sheets under the trade names Perinet and Overnet, respectively - Steel fibres for concrete reinforcement under the trade name Inomix (part of the

SD Integrated Reinforcement System) - Double-twist hexagonal mesh (serasanetti) in rolls and gabions In order to achieve the optimum balance between operational and commercial flexibility, and production effectiveness, Sidenor Group has adopted an operational structure focused on the following three areas: â—? Mini-mills; â—? Downstream operations for steel product processing; â—? Sales and distribution.

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CREATIVE GREECE 2018

EXPORT LEADERS FOOD PRODUCTS Industrial

LOULIS MILLS SA

230 years: Seven generations at the mill’s helm

Nikos K. Loulis, Board President

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Contact details 1 Spetson St., Keratsini, 187 55 Piraeus, Greece Tel: +30 210 40 90 100 Fax: +30 210 40 90 150 Email: loulis@loulisgroup.com Website: www.loulismills.gr I 150 I

LOULIS MILLS is currently active in Greece with two state-of-the-art production plants at Sourpi, eastern mainland Greece, and Keratsini, a district of the capital’s Piraeus port region. It occupies the top position in the Greek flour industry in terms of milling, sales and technology. The advanced technology employed by Loulis Mills provides its customers with over 120 flour varieties, ensuring a wide product range that is ideal for meeting all the demands of professional bakers.

The business objective of Loulis Mills is exclusively focused on production and trade of flour ground from wheat, as well as rye, corn and barley. The corporate group’s products are divided into: Milling products (professional: wheat in sacks and bulk form - and byproducts: bran, etc.) and consumer products (Long Life, or Fast Moving Consumer Goods, such as flour in a packet). By implementing the latest technology and monitoring market trends and needs, LOULIS MILLS produces 120 types of flour and semolina to serve its 5,000 customers, bakers and pastry cooks. The effort is supported by a highly organized sales network across the country.

The Sourpi industrial facility includes seven production lines; it has a capacity to mill 1,000 tonnes of wheat per 24 hours; it is equipped with a 55,000-ton grain silo, a Pilot Organic Mill, a traditional Stone Mill, a privately-owned harbour for loading and unloading up to 4 ships, a 5,000-ton flour silo, a storage warehouse with a capacity of 3,000 tons, an ultra-modern chemistry laboratory and experimental bakery, and a technical support department for professional bakers.

The Keratsini industrial facility has a capacity to mill 300 tons of wheat per 24 hours; it is equipped with a 21,000-ton grain silo, a privately owned harbour for loading and unloading 140 tons of grains per hour, a 3,500-ton flour silo, a storage warehouse covering 3,000 square meters, and an ultra-modern chemistry laboratory and experimental bakery. The company’s production process entails receiving wheat, storage, cleaning, milling, blending, packaging and distribution.

In 2016, the listed company posted total sales of 96.5 million euros compared to 101.3 million euros a year earlier. Pre-tax income rose to 4.58 million euros against 3.01 million euros in 2015. In the fist half of 2017, the company posted sales of 42.57 million euros compared to 46.65 million euros in the same period a year earlier, a drop of 8.74%. Earnings before tax stood at 1.69 million versus 1.88 million euros in the same period in 2016. At group level, in the first half of 2017, sales amounted to 45.14 million euros, while earnings before taxes amounted to 1.64 million euros and EBITDA to 4.58 million euros.

CREATIVE GREECE 2018

EXPORT LEADERS Cruises Commercial

Kyriakos (Kerry) Anastassiadis, CEO of Celestyal Cruises

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Celestyal Cruises

A unique experience About Celestyal Cruises Celestyal Cruises is the home-porting cruise operator in Greece and the preeminent cruise line serving the Greek Islands and East Med. The company operates four mid-sized vessels, each one cosy enough to provide genuine and highly-personalized services. The foundation of the company’s philosophy is the ‘destination.’ Every cruise focuses on true cultural immersion, offering authentic, lifetime experiences both on board and on shore wherever its vessels sail.

Awards & Recognition In February 2018 Celestyal Cruises received four Cruise Critic Cruisers Choice Awards: two first place awards, for Shore Excursions and Value, and two second place awards, for Service and Entertainment. In 2017 Celestyal Cruises was given the UK Editors’ Picks Award for Best Service

by Cruise Critic, the world’s largest cruise reviews site and online cruise community, as well as four Cruise Critic Cruisers’ Choice Awards: Best (mid-sized), Embarkation, Entertainment, Shore Excursions and Value.

Corporate Responsibility Celestyal Cruises is deeply committed to sustainability and ethical business practices. The company actively supports the local communities in the destinations it visits, particularly in the field of education. Since 2015, more than 1,200 students on the Greek islands of Milos, Patmos and Ios have enjoyed a ‘journey to knowledge’, by attending specialized educational programs, initiated by Celestyal Cruises. Additionally, Celestyal Cruises supports cultural NGOs to promote youth entrepreneurship, marine student development and child welfare.

ISO Certification The entire spectrum of Celestyal Cruises’ ship management, including technical, hotel and crew management, and offices, are certified as per ISO 9001/14001 standards. The certifying authority is DNV-GL, which is widely recognized as the biggest and most respected rating agency in the marine industry.

Connect with Celestyal Cruises: Facebook, Instagram, Twitter, LinkedIn

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Contact Details 25 Akti Miaouli, 18535 Piraeus, Greece Tel. +30 216 40 09 999 Fax. +30 216 40 09 629 E-mail: info@celestyalcruises.gr Website: http://www.celestyalcruises.gr For more information, please visit www. celestyalcruises.com Facebook: https://www.facebook.com/ CelestyalCruisesGreece Instagram: https://www.instagram.com/ celestyalcruises/ Twitter: https://twitter.com/celestyalcruise I 151 I

CREATIVE GREECE 2018

EXPORT LEADERS Food Products Industrial

BARBA STATHIS SA

The market leader in frozen vegetables and frozen dough

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Contact Details Thessaloniki Industrial Zone (A5 St.), Sindos 57022, Thessaloniki, Greece Tel: +30 2310798483 Fax: +30 2310796221 E-mail: info@barbastathis.com Website: www.barbastathis.com I 152 I

Founded in 1969, Barba Stathis is a subsidiary of Vivartia, the largest food company in Southeast Europe, and the leading company in frozen vegetables and frozen dough products market in Greece. The fundamental elements for its success are: Quality, Innovation, Nutrition, Taste and Convenience.

Barba Stathis’ activities include the production and sale of frozen vegetables (conventional and organic), mixed vegetables (plain and with rice), combinations of frozen vegetables based on traditional Greek recipes, as well as tomato products and fresh salads.

Barba Stathis has been an ardent supporter of the Greek Economy and the agricultural production of the country, utilizing more than 3.000 hectars of cultivation. Its production is based on an integrated crop management system, contractual farming application of “Agricultural excellence”, production of organic farming and on the cooperation of the company with academic institutions for research purposes. In this way, the company ensures high quality products, which are as fresh as the moment they were harvested.

Barba Stathis’ production plants comply

fully with all National and International food quality management and safety standards.

Its Quality & Safety Management system is EN ISO 9001/2015, EN ISO 22000/2005, I.F.S. & B.R.C. certified and guarantees that its vegetables are produced according to these standards.

In the dough category -under the brand name “Chrysi Zymi”- the company promotes authentic pastry creations based on Greek traditional recipes, offering consumers a wide variety of products including frozen filo dough, pies, mini pies, pizza, croissants and a variety of filo dough variants in the category of fresh chilled dough. At the same time, the company has developed an integrated strong Research and Development operation, which focuses on the creation of innovative products that respond to the demand of the markets it serves.

Thus, it offers products that preserve and promote the Greek/Mediterranean cuisine meeting the needs and pace of the contemporary way of living, not only within the Greek borders but also worldwide.

Barba Stathis supports the society and people in need, in collaboration with leading

organizations and foundations, giving priority to children. Furthermore, in cooperation with higher education organizations, it provides practical training to young scientists and students and supports initiatives that aim at a wider education and training of young people.

Based on its operational pillars and embracing its vision to represent Greek Nutrition globally, the company experiences a dynamic growth in its export activity (20%) with its products being present in 21 countries worldwide.

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CREATIVE GREECE 2018

EXPORT LEADERS FOOD PRODUCTS Industrial

INTERCOMM FOODS SA,

Continuing presence in more than 60 export destinations worldwide

Stergios Tsagkoulis, Chairman & CEO

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INTERCOMM FOODS SA, founded in 1990, is located in Larissa, central Greece, and is one of the country’s leading export companies.

The firm has strong experience in PRIVATE LABEL products, and at the same time has developed its main brand DELPHI. Sales in 2017 rose to 85.5 million euros compared to 82 million euros a year earlier.

The company’s headquarters, warehouse and main production facilities cover an area of approximately 160,000m2. The firm operates two factories: (1) Olive and Fruit factory in Larisa, and (2) Olive factory in Kompoti, Arta.

In 1999, the company carried out a large investment in the field of olives, with modern installations and state-of-the-art equipment. Through this investment, it succeeded in becoming the leader and biggest olive processing company in Greece, with the highest standards, subsequently gaining ever-increasing recognition in the international olive market.

Intercomm Foods SA is also a leader in ASEPTIC fruit, supplying peach and apricot to top factories (jam producers, fruit preparations, juice factories, yogurt factories, etc.), all over the world and satisfying the highest quality standards and requirements. ● Main product categories: ● Olives, pastes & antipasti ● aseptic peach & apricot fruit ● peaches and apricot in cans & jars ● apricot and peach compote in cans and jars ● jams - syrups

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Contact Details 8th km Larissa-Sikouri highway, Larissa, 41110 (PO BOX 1127), Greece Tel: 0030-2410-575092,93 Fax: 0030-2410-575091, 575503 Email: fruitsales@intercomm.gr, olivesales@intercomm.gr Website: www.intercomm.gr I 154 I

Intercom Foods SA is a family-run business that began operating with high ambitions.

These days, the firm does business not only in Western Europe but around the world. It provides private label products to some of the biggest retail groups, such as Carrefour, Casino, Walmart, Kaufland, Aldi, Lidl, Tesco, Sandhurst, Metro, Norma, Edeka, etc.

The firm also enjoys a strong market presence with its brand-name products in the Balkans, Scandinavia and Eastern Europe.

Marketing its products under the Delphi brand name, the firm exports to the Former Yugoslav Republic of Macedonia (FYROM), Bulgaria, Romania, Ukraine and Scandinavian countries. Though the firm’s entry and survival in the Russian market proved difficult in the mid-1990s, it has managed to bolster its standing through a company of its own, which, besides marketing its own products, such as olives and compote, also offers other products, including olive oil, pastas, traditional Greek delicatessen and cheese products.

Intercomm Foods SA exports up to 98% of its products to 60 countries and to more than 450 clients worldwide.

Export destinations: EU, Russia, Ukraine, Switzerland, USA, Canada, Australia, New Zealand, Iran, Mexico, Russia, China, Japan, South Africa, Brazil, Middle East countries, etc. It is certified and operates according to ISO22000:2005, BRC, IFS quality standards.

In 2017, the firm carryied out an investment to upgrade and expand its Larisa facilities, valued at nine (9) million euros.

Awards for Intercomm’s export presence worldwide by: ● EBEA – Greek Chamber of Commerce in Athens ● Active Greece – Stat Bank ● Silver top exports company 2015 - Greek exporters

According to financial sources: (1). Infobank Hellas: Intercomm Foods SA was among the 15 Greek fastest growing companies in 2009-2013.

(2). Fortune: Intercomm Foods SA was the 6th most dynamic company among the 30 fastest growing Greek companies in 2015.

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CREATIVE GREECE 2018

EXPORT LEADERS PLASTICS-RUBBER PRODUCTS Industrial

ATLAS TAPES SA

Exporting over 85% of production Atlas Tapes Group, comprising Atlas Tapes SA (parent company) and P. Lantzis SA (affiliate company), is a vertical manufacturer of self-adhesive tapes, considered a Greek market leader and ranking among the top European producers, exporting more than 85% of its production.

The original company was founded in Athens by Christopher Lantzis and his sons in 1953. In 1977 production moved to Atalanti where it remains until today.

Over the years, various investments in production led to the addition of new coating technologies, and currently the company manufactures a comprehensive range of tapes, which includes: ● Packaging tapes: PVC, BOPP coated with solvent, acrylic and hot melt adhesive ● Masking tapes: Acrylic, solvent and hot melt

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Contact Details 68 Varis Ave., 166 73, Voula, Attica, Greece Tel.: +30 210 8995388 Fax:+30 210 8995386 Email: info@atlas-tapes.gr Website: www.atlas-tapes.gr I 156 I

● Stationery tapes: Cellulose and BOPP ● Specialty products.

Takis Lantzis and his son Jason (3rd generation), with the support of new investors, are on the helm of Atlas Tapes since 2008. During the same period, a five-year investment program led to an increase in total covered area of plants to 40,000 square meters, on a 135,000-square-meter plot. New offices were constructed to accommodate the constantly increasing needs for human resources, while a fully automated slitting department was created and a state-of-the-art laboratory, operating under ISO 9001 and 14001, was completely renovated.

In 2014 Atlas Tapes celebrated its 30-year anniversary of masking production by installing a new paper impregnation line (total of two) and a dedicated masking solvent natural rubber coater along with three lathe slitters and fully automated packaging and labelling lines.

Atlas Tapes production today operates: ● Nine (9) coating lines: two acrylic water based, five solvent natural rubber and two hot melt synthetic rubber.

Two (2) masking paper impregnation ● lines. ● Nineteen (19) fully automatic and robotic slitter-rewinders and numerous semi-automatic, as well as three fully automatic lathe (torno) slitters.

Continuous developments and upgrading of plant facilities highlights the company’s dynamic for technologically advanced production and high quality standards.

A significant investment is made also in

the company’s R&D department, contributing to its efforts to enter new markets and countries with new products.

Highly and offline masking tapes, such as washi and fully waterproof, have been introduced, as well as low cost/ high efficiency / low emissions solvent packaging products.

The above investments combined with a steep increase in sales in recent years, have led to an increase in personnel from 195 in 2010 to 390 in 2018, with all these skilled employees constituting the heart and soul of the operation. Personnel numbers are expected to further increase as a result of the augmented capacity, growing sales and constant company growth.

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CREATIVE GREECE 2018

EXPORT LEADERS Information Technology Commercial

INTRALOT CMYK Matt Guide

Orange: CMYK 0/70/100/0 Grey: CMYK 70/50/65/50

INTRALOT S.A.

One of the world’s most powerful players in its industry

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Contact details 64 Kifissias Ave. & 3 Premetis St., Athens, 15125 Greece Tel.: +30 210 615 6000 Fax: +30 210 610 6800 Email: info@intralot.com Website: http://www.intralot.com I 158 I

INTRALOT, a listed company established in 1992, is a leading gaming solutions supplier and operator, active in 55 regulated jurisdictions around the globe. With €1.9 billion turnover and a global workforce of more than 5,300 employees in 2016, INTRALOT is a robust corporation uniquely positioned to offer to lottery and gaming organizations across geographies flexible, stable, and secure gaming products and services.

Through the use of a dynamic and omni-channel approach, INTRALOT offers an integrated portfolio of best-in-class gaming systems and product solutions & services, addressing all gaming verticals (Lottery, Betting, Interactive, VLT). Players can enjoy a seamless and personalized experience through exciting games and premium content across multiple delivery channels, both retail and interactive. INTRALOT handles an average of €23.4 bn of wagers per year and has installed and operates more than 300,000 of its proprietary terminals around the world.

As a member of the UN Global Compact, INTRALOT is a global corporate citizen committed to sustainable development, and is an active proponent of the principles of responsible gaming, possessing the WLA responsible gaming framework certificate. Τhe company maintains the highest security certifications. INTRALOT is the first international vendor in the gaming sector that has been certified according to the World Lottery Association (WLA) Security Control Standard in 2012. Moreover, the Company has been certified with the ISO 27001 for its Information Security Management System (ISMS) and maintains the ISO 20000-1 certification on Information Technology Service Management.

NTRALOT contributes decisively to the future developments of the industry being a member of the major Lottery and Gaming Associations around the globe: Platinum Contributor of WLA, Premium Partner of European Lotteries, Top Sponsor of North American Association of State & Provincial Lotteries, Star Contributor of CIBELAE (Lottery Association for South America and the Iberian Peninsula), Gold Sponsor of Asia Pacific Lottery Association, Member of Gaming Standards Association and Gold Member of the Association of Gaming Equipment Manufacturers.

In 2016, the Greek company reported a drop in sales to 65.5 million euros compared to 76.5 million euros a year earlier. Earnings before tax rose to 9.4 million euros against 2.4 million euros in 2015. At Group level, in 2016, revenues amounted to 1.3 billion euros and EBITDA to 175 million euros. In the nine months of 2017, the group posted a rise in sales to 1.085 billion euros, compared to 957 million euros in the same period a year earlier, while EBITDA rose to 137.3 million euros compared to 124.3 million euros.

CREATIVE GREECE 2018

EXPORT LEADERS Non-Metallic Mineral Industrial

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PAVLIDIS MARBLE GRANITE SA

Global force in the field of marble In 1980, Efkleidis Pavlidis established PAVLIDIS MARBLE-GRANITE, a company that, thanks to the consistently pioneering spirit and strong vision of its founder, has become one of the main producers of white marble in the world market. By using a vertically integrated structure, the company controls the production of the final product from extraction to processing, and the sale of rough, semi-finished and finished marble and granite products, specializing in white and semi-white marble and with a dynamic presence in beige marble.

The company operates five (5) quarries: Ariston quarry, Kavala, Volakas, Florida and Perla quarries.

Ariston is located in Granitis, Drama and 30,000 m³ of marble blocks are excavated. The names ARISTON, ARISTON V and ARISTON GL are the trade names of the colour selections of the white marble that is extracted. Kavala s quarry capacity is 40,000 m³ of marble blocks per year and produces the traditional crystalline marbles. Volakas quarry produces white marbles with the characteristic of grey/ brown veins. Florida quarry markets the unique marble with characteristic grey/blue veins on a white background which is marketed under the name FLORIDA. Finally, in Perla quarry the company excavates the cream/beige limestone under the name Perla. Pavlidis Marble and Granite has a marble cutting and processing factory and a granite cutting and processing factory in the Industrial Park of Drama. With full and complete mechanical equipment which is upgraded and expanded in accordance with the cutting-edge technological developments, the company’s trained and experienced personnel is always able to meet the growing demand for its products.

Since its foundation to date, the company has been intensely orientated towards exports, with sales now accounting for more than 90% of its annual turnover. Starting out from the demanding construction requirements of Western European countries, the company has progressively expanded its activities to the two hemispheres with exports to the Far East, South-East Asia, Arab states, as well as South America and US. With a multitude of projects worldwide, Pavlidis Marble-Granite constitutes one of the most professional choices as regards the undertaking and execution of large-scale projects of high quality standards and with absolute respect for the environment.

In 2016, the marble company saw both turnover and pre-tax profit rise considerably. Total sales rose to 62.2 million euros compared to 50.5 million euros a year earlier. Notably, the vast majority of sales, or 51.7 million euro, came from third countries, followed by sales in Greece (6.1 million euros) and the EU (4.3 million euros). These facts classify Pavlidis Marble Granites as a chiefly outward-looking business. Pre-tax profits in 2016 jumped to 31.1 million euros against 19 million euros in 2015. In addition, the company has invested 20 million euros over the last 5 years, and employs a staff of 350.

2017 marked a landmark year for the company, as it concluded –in September– the acquisition of the Dutch company STONE WORKS COOPERTIEF, which holds a share of 88.4% in FYROM’s Priler-based MERMEREN, a move valued at 72.3 million euros, which makes PAYLIDIS one of the world’s largest companies, establishing it as the leader of the white dolomite marble.

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Contact Details Drama Industrial Area, 661 00, Drama, Greece Tel.: +30 25213 06100 Fax: +30 25213 06110 E-mail: info@pavlidismg.gr Website: www.pavlidismg.gr I 159 I

CREATIVE GREECE 2018

EXPORT LEADERS ELECTRONIC DEFENSE SYSTEMS Industrial

INTRACOM Defense Electronics

Τhe largest manufacturer of defense communications and electronic systems in Greece

G. I. Troullinos, Managing Director

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Contact details 21st km Markopoulou Ave., GR 19400 Koropi, Attica, Greece Tel.: +30 210 667 8000 Fax: +30 210 667 8001 Email: info@intracomdefense.com Website: www.intracomdefense.com I 160 I

IDE (INTRACOM Defense Electronics) is the leading defense electronics and communications systems provider in Greece. It has been engaged in the development and production of defense electronics and communications systems for the Hellenic Armed Forces and the international market since 1992.

The main areas of interest, where IDE invests continuously on new technologies to ensure a leading position in the international scene, are: ● Tactical Communications: Products developed in this area include Wideband Radios (Spartan, WiWAN and SeaNNet), Intercommunication Systems (WISPR, Tacticon, and NAUTiCON) and Satellite Communications (VSAT Cronos). ● Data Links and Telemetries: Design, development, qualification and production of missile data link and telemetry systems for surface-to-air (telemetry section of ESSM missile), airto-air (telemetry system, guidance section power supply and field test equipment of IRIS-T missile) and ground-to-air missiles (data link of IRIS-T SL missile). ● Missile Electronics: IDE develops and manufactures advanced missile electronics that meet the operational requirements of its customers, and has manufactured electronics modules (SRUs and/or LRUs) for the following missiles: PATRIOT PAC-3, CROTALE NG, RAM and Phalanx Close-In-Support Weapon System. ● Information Security: The SECLINE product line of encryption devices (SECLINE MBit, SECLINE a-PLUS and SECLINE IP) is designed to utilize dedicated cryptographic algorithms, fully developed by IDE and certified by the National Security Authorities. ● Hybrid Power Systems: IDE enters the era of environmentally safer energy with a series of Electric Power Conversion, Storage and Management products. ● National Security: IDE provides state-of-the-art technology and integrated systems for public safety agencies.

In addition, IDE participates in joint multinational development and production programs in cooperation with major international defense system companies, making significant annual investments in R&D activities for the development of cutting-edge defense and security systems. In order to facilitate the rapid design and development of technologically advanced, high-quality products and systems, IDE operates sophisticated R&D Laboratories within its facilities, which maintain a high level of specialization and are equipped with modern infrastructure.

IDE expands its international partnerships through several co-production programs with leading manufacturers, resulting in the company’s participation in the implementation of state-of-the-art electronics for Air-defense Systems, Aircraft Self-Protection Suites, Weapon Systems Electronics, Radars and Electro-optics. Through its participation in the above Hellenic and international defense programs, IDE has achieved high levels of local added value and supports the Hellenic industrial sector by allocating considerable supply contracts to local subcontractors.

In 2016, the firm posted a rise in sales to 57.4 million euros compared to 49.6 million euros a year earlier. Earnings before tax amounted to 1.5 million euros against 973,000 euros in 2015.

Notably, in 2018, the defense systems provider, proving the significant recognition it enjoys worldwide, concluded the delivery of an integrated system to the Indonesian navy.

CREATIVE GREECE 2018

EXPORT LEADERS

Atradius Crédito y Caución S.A. de Seguros y Reaseguros The Atradius Group provides trade credit insurance, surety and collections services worldwide. With a presence through 160 offices in more than 50 countries, Atradius has access to credit information on over 240 million companies worldwide and takes almost 20,000 credit limits decisions daily.

Its products and services aim to reduce a customer’s exposure to buyers who fail to pay for products and services they buy on credit. With total income more than 1.8 billion euros, Atradius products help protect companies throughout the world from payment risks associated with selling products and services on credit.

Services

Atradius Presence in Greece The Hellenic branch of Atradius was founded in January 1998 and provides trade credit insurance and collection services with its goal to reduce its customers’ exposure against the risk of non-payment from buyers they sell their products and services to.

Throughout the course of its operations in Greece, Atradius has succeeded in becoming a trustworthy, as well as a growing insurance partner, thus enjoying a growing cooperation with major corporations and esteemed insurance representatives.

Our growth policy is characterized by the selective integration of new customers to our existing portfolio rather than the reckless and mass expansion of our portfolio. As a result, we have succeeded not only in increasing our turnover but most importantly in minimizing the moral hazards, while at the same time retaining the majority of our clientele even during the past few years (2009 onwards), during which the Greek economy has been in severe distress.

Despite the difficult years of the Greek economy, Atradius has supported its customers not only by maintaining their credit limit, but also by selectively undertaking additional risk.

As a result, Atradius has not only gained the appreciation of the business community, but has also become the leader in the Greek Credit Insurance Market for the past several years.

Giving the Greek companies our vote of confidence, we remain focused on providing our insured parties with services of the highest quality, as well as cutting edge insurance products in order to create a protective field against the danger of payment default which governs modern trading. In this manner, we empower our customers to not only safeguard their cash flow but to also safely increase their business transactions.

Atradius enjoys a rating of A (excellent) with a stable outlook by A.M. Best, and A3 (excellent) also with stable outlook by Moody’s.

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Contact details 44 Kifissias Ave., 151 25, Maroussi, Greece Tel.: +30 210 72 59 179 Fax: +30 210 72 59 129 E-mail: info.gr@atradius.com Website: https://atradius.gr/ I 161 I

CREATIVE GREECE 2018

EXPORT LEADERS Aluminum Products Industrial

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Contact Details 25 km Thessaloniki - Kilkis National Rd., Nea Santa, P.O. Box 79, 61100 Kilkis, Greece Tel.: +30 23410 39500 Fax: +30 23410 64173 Website: http://www.elvial.gr/ I 162 I

Love for aluminium, persistence and commitment to the goal insight of the future market With more than 27 years of experience, ELVIAL becomes one of the leading aluminium extrusion companies in the European and International market. A flexible aluminium extrusion industry focused on providing a full range of custom made architectural solutions. Specifically ELVIAL offers Opening Systems, Sliding & Lift/Slide systems, Main Entrances, Shading Systems and Facades. Furthermore ELVIAL’s industrial profile division serves the needs of demanding industries such as lighting, medical, road transportation and construction.

Milestones 1990: Mr. Dimitrios and Mrs. Maria Tzika established ELVIAL SA 1997: The Research and Development Department is being created in order to design and develop advanced architectural systems.

2003: The beginning of a new era for ELVIAL. A long-term investment plan is initiated, of over 50 mill. Euros, which involves the relocation of ELVIAL in new facilities with cuttingedge mechanical equipment and the application –for the first time globally- of intelligent robotic systems in managing and handling of aluminum profiles.

ELVIAL evolves from an intermediate and geographically limited enterprise, in a modern, technologically advanced, verti-

Dimitrios Tzikas, President

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ELVIAL S.A.

cally integrated, client oriented and without borders company.

2014: ELVIAL established its new subsidiary in Dusseldorf-Germany, in order to fulfill efficiently West Europe customers and expand ELVIAL’s export activity. ELVIAL today exports to 30 countries and continues to achieve new demanding goals.

In 2017, ELVIAL begins a new investment plan of 15m € - once again the investment takes place in Greece - aiming to launch new innovations and unique comparative advantages. The implementation of the 3rd extrusion line with energy saving system is ready to increase ELVIAL’s production capacity to 25.000TN annually. Moreover, the1st electrostatic coating system with pre-anodising applications in Greece and 5th worldwide will be in operation in a few months and last but not least we strengthen our flexibility by installing 2 new robotic warehouses with a total capacity of 8,000 positions.

Furthermore ELVIAL invests additionally 5 m €, for ● The development of NEW Aluminum Architectural Systems. ● A private-owned Test and Certification laboratory, with the collaboration of Ift Rosenheim Germany.

er new materials which improve the product features.

A Total Quality System (TQM) is applied in all production process, including quality control laboratories at each stage of the production, providing, also all the necessary Production Quality Certifications. ● A Training Center for on-the-job training of

our partners. ● New premises in Athens

PERSISTENCE ON INNOVATION The continuous upgrade of the range of offered products constitutes permanent pursuit and purpose for ELVIAL. The specific difference however, is that ELVIAL offers modern solutions and benefits to its direct partners and to the final consumers, with products which are supported exceptionally throughout the whole supply chain: production - technical support - final application - end use.

In 2004, ELVIAL is the first company that launches in the market the Advanced Architectural Systems ELVIAL MULTILOCK, which offer to the final consumer all the benefits of aluminium but with burglar resistance certification of RC2, having perimetric locking points and safety glazing bead.

ELVIAL received International Patent in 27 countries for the ELVIAL MULTILOCK Systems.

In 2017, ELVIAL launched the MINIMAL Look.

A sliding system that combines a minimal design, with excellent everyday function, even at large dimensions, offering a pleasing experience and comfort for all.

The MINIMAL Look is designed to meet architects’ needs by giving them numerous options to cope with any structural or aesthetical challenges. A discreet but powerful outline, of only 35.5mm, dynamic design with attention to details and a number of technological innovations, such as the special multipoint locking system and the aluminium handle of

exceptional design, the MINIMAL Look came to change the standards in typical sliding systems.

I2: INNOVATIVE INSULATION TECHNOLOGY, A WORLDWIDE INNOVATION BY ELVIAL ELVIAL I2 Technology derived after a thorough and continuing research, referring to the application of an insulating material, thoroughly designed for ELVIAL, with very low thermal conductivity λ=0,023W/mK, which covers completely the intermediate chamber of profiles.

ELVIAL I2 Technology provides total cover of the thermal brake chamber, having the optimum destiny that ensures excellent isothermal flow of the Aluminium System which can improved up to 38%.

PERSISTENCE ON QUALITY ELVIAL‘s suppliers are selected with the strictest standards. In this context, ELVIAL concludes long term cooperations with worldwide companies, developing togeth-

INTERNATIONAL ORIENTATION Today we are one of the most rapidly growing aluminum profiles extruders in the Greek and European Aluminum market.

In an exceptionally unfavorable environment, ELVIAL achieved to increase its market share in the Greek Territory.

Simultaneously, ELVIAL has developed even more its extrovert profile and penetrated the demanding Central and West Europe markets mainly in the sector of high end industrial custom made products.

Currently, ELVIAL exports to more than 30 countries, 70% of its turnover, while it is anticipated that in the next 3 years, ELVIAL’s exports will exceed 80%.

ELVIAL it’s proud of high quality standards, flexible solutions and state-of-the art mechanical equipment for which the company is renowned. With customer-focus philosophy and premium aluminium products and experience, ELVIAL remains one of the growing and financially healthiest companies at an International level.

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CREATIVE GREECE 2018

EXPORT LEADERS PHARMACEUTICALS Industrial

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Contact Details 14th km National Road 1, 145 64 Κifissia Attica, Greece Τel: +30 210 8072512 Fax: +30 210 8078907Website: http://www.uni-pharma.gr I 164 I

UNI-PHARMA KLEON TSETIS PHARMACEUTICAL LABORATORIES SA O.F.E.T., the Tsetis Group of Pharmaceutical Companies, comprises two complimentary, dynamic companies, UNI-PHARMA S.A. and INTERMED S.A. that share parallel objectives, yet with a different focus.

Kleon Tsetis, a pharmacist with a vision to strengthen the position of Greek companies in the pharmaceutical industry, established Uni-Pharma in 1963 with the mission of improving the Quality of Life of our fellow men by facilitating Access to Treatment with Innovative, High-Quality and cost-efficient Pharmaceutical Products. Since its establishment, UNI-PHARMA has been researching, developing, manufacturing and marketing pharmaceuticals of the highest quality, covering all major therapeutic categories, with innovation highlights such as APOTEL® and SALOSPIR® as well as technological challenges such as T4®.

The vision of Uni-Pharma is to be among the leaders of the constantly changing pharmaceutical landscape, by offering high quality products to patients worldwide.

Since its foundation, Uni-Pharma has grown from a small privately held company into a large and dynamic organization, which

currently holds the leading position in unit sales among Greek- owned companies in the domestic market. In order to sustain this growth Uni-Pharma actively explores partnering potentials with commercial partners and Academic Institutions alike, in a global scale, while tirelessly investing in technology and manufacturing excellence. Through undaunted efforts, UNI-PHARMA’s reach today extends to five continents and 53 countries, leveraging on growth opportunities around the globe. UNI-PHARMA exports high technology products under its own brands, creating value and contributing to the great National effort of re-shaping the character of the Greek economy. In the field of research, it has expanded far beyond the realm of pharmaceutical technology where it already holds more than 30 patents, entering organic synthesis and drug discovery through collaborative translational research.

Most prominent token of UNI-PHARMA’s commitment in multi-dimensional business development and source of competitive advantage is its new state of the art industrial plant in Attica, which is the largest investment materialized in the Greek pharmaceu-

55 years of value creation in the pharmaceutical industry: A story worth telling tical field over the last 2 years. The new facilities are a model for safety, efficiency and automation. Bioclimatic design, allows a significant reduction of the site’s energy consumption footprint coupled with other best practices in the sustainability field, while being in full harmony with the surrounding environment, whereas fully automated and digitized production and control systems maximize effort and output.

Excellence, forever Awards and Recognitions.

Throughout the years Uni-Pharma has received Excellence Awards by numerous Institutions both nationally and internationally for either its products or innovative business practices and procedures. Indicatively the following can be mentioned: EFQM Recognised for Excellence - 5 stars (Global Award Simulation Process). Having successfully applied the EFQM MODEL OF BUSINESS EXCELLENCE for more than ten years & having developed a Continuous Improvement Process which has led to uninterrupted accreditations and distinctions in the field of Business Excellence, in 2017

–UNI-PHARMA has finally proceeded to the highest EFQM – “RECOGNIZED FOR EXCELLENCE” after a successful GLOBAL EXCELLENCE AWARD SIMULATION procedure.

Investors in People International. This Certification proves that the company’s management considers its people companions in the corporate development processes, focuses on their continuous training, empowerment and on ensuring a healthy, safe and creative future for them and their families.

Diamond of the Greek Economy, in the category of ‘The most Admired enterprises’ enterprises’ for three consecutive years in 2015, 2016 and 2017 by the Active Business Publishing institution.

Excellence and Competition Award, in the field of Health-Medicine and Beauty, as part of the Salus Index Award Scheme 2016.

Professional Solutions in Healthcare Award, after a successful nomination for a Laureate Diploma by the organizers of the most prestigious networking event for the global Pharmaceutical Industry, CPhI. This distinction highlights the undaunted efforts of the historical Greek Pharmaceutical

Industry, for externalization and uninterrupted growth on a global scale.

Waste & Recycling Awards 2017. UniPharma has earned 2 Gold awards in the Sustainable Development categories and Corporate Social Responsibility strategy, actions and initiatives in the context of Social Responsibility, Environmental Protection and Sustainability. In addition, Uni-Pharma was the only Healthcare Waste Silver Pharmaceutical Industry Award winner for its innovative practices and commitment to integrated recycling and recovery of pharmaceutical waste.

ECOPOLIS Award 2017, for the new production plant, which is a standard of bioclimatic application, geared to the full exploitation of the climatic conditions for its operation while reducing every energyintensive process, in full harmony with the natural environment.

The jury committee of “ΔΟΜΕΣ ” International Review of architecture awarded Uni-pharma with the Distinction of Best Project of the years 2011-2015 for its new manufacturing facilities in Kifissia, Athens.

I 165 I

CREATIVE GREECE 2018

EXPORT LEADERS Tobacco Products Industrial

KARELIA TOBACCO INC. SA

Market presence in over 65 countries

Andreas Karelias, Chief Executive Officer

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Contact details Athinon St., 241 00 Kalamata, Greece Tel: +30 27210 69213 Fax: +30 27210 69080 Email: info@karelia.gr Website: www.karelia.gr I 166 I

The firm’s roots date back to 1888 when the Karelia family’s first entrepreneurial generation established a small tobacco enterprise in the provincial city of Kalamata, southern Greece.

During the first few decades of operation, the firm’s reach was mostly local. The ensuing arrival of political and social stability allowed Karelia to expand its business activities throughout Greece.

From the 1950’s onwards, Karelia has marketed a number of particularly popular cigarette brands that secured a wide distribution network and significant market share for the company on a nationwide level. The company’s headquarters and production facility continues to be based in Kalamata. In 1971, the firm relocated operations to its present facilities, measuring an area of 80,000 sqm. The company’s sales and marketing departments are based at the Karelia building in Athens. Today, Karelia Tobacco Company is Greece’s largest cigarette manufacturer and exporter, and one of the fastest growing, privately-owned cigarette companies in the world. It operates offices throughout Greece and distributes its cigarette brands to a sales network covering 25,000 retail points. Internationally, Karelia cigarette brands are marketed in more than 65 countries, in western and eastern Europe, Middle and Far East and Africa.

The company’s major brands are George Karelias and Sons, Karelia Slims, Omé, Karelia Blue, Oriental Mist and American Legend. In 2008, Karelia took over the Backwoods cigar brand from Altadis SA for the Greek market.

Highlighting the firm’s export-oriented nature, Karelia owns five subsidiary firms, three of which are based in countries other than Greece. The UK-based Karelia Tobacco Company distributes Karelia products in Great Britain, while Meridian SA, a subsidiary owned entirely by Karelia, acquired in 1995, supplies duty free goods to ships. In 2007, the firm’s office in Bulgaria was upgraded to an import company under the company name Karelia Bulgaria EOOD. In 2008, Karelia established a subsidiary firm in Turkey, Karelia Tutun ve Ticaret A.S. Notably, in spite of the ongoing economic crisis in Greece, the firm invested during the period 2003 - 2015 more than 70 million euros with the objective of increasing production capacity, improving production flexibility and boosting exports. In January 2016, the firm spent more than 3 million euros in bonus schemes, remunerating employee’s dedication and effort.

When it comes to corporate social responsibility, Karelia has always been firmly committed to playing a leading role as a benefactor and sponsor of the city of Kalamata. The tradition of giving back to its community has been a source of great strength and inspiration. Karelia actively supports local non-profit community organizations, and has sponsored countless art and cultural activities for generations throughout the history of the Company. In 2016, for yet another year, the Greek tobacco company saw its financial figures rise. At group level, sales rose to 876 million euros, compared to 836 million euros a year earlier. Pre-tax profits also rose to 88.9 million euros in 2016, compared to 84 million euros in 2015. In 2016, the tobacco industry witnessed a rise in demand for its products in EU countries and Asia. In the first nine months of 2017, the Group continued to grow, with sales reaching 694 million euros compared to 672 million in the same period a year earlier. Earnings before tax (nine-month 2017) amounted to 57 million euros compared to 65 million euros in the corresponding period a year earlier. In 2016, the company employed 478 employees.

CREATIVE GREECE 2018

EXPORT LEADERS WINE Commercial

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SEMELI WINERY S.A.

SEMELI: A Greek wine in the world’s top The Semeli Winery was founded in 1979 with a view to making Greek wines of exceptional quality. The production of fine wine has long been inextricably connected with grape quality, which in turn draws its fineness from the soil or terroir in which it grows.

The favourable climate coupled with the rare qualities of the land, in symbiotic fusion with the sun that casts its potent rays across the vines and the grape varieties accordingly selected, are indeed the defining parameters for the fine wine we offer.

Semeli vineyards in Nemea (Koutsi) and Mantinia enjoy the finest advantage of all those defining qualities necessary for a most perfect quality of wine. The strict norms of cultivation, and the passion of those caring for the vine, in combination with experience handed down from one generation to another and the use of ultramodern machinery, result in the production of wines of both remarkable character and exceptional quality, and at value-for-money prices. Semeli Estate is one of the most impressive winerelated undertaking in Greece, located at an altitude of 600m; a place where comfort and style are celebrated each and every day. The location combines natural beauty and easy access to cultural and historical sights. Semeli Estate tasting is regarded as an experience having. Our elegant multi-purpose room can be offered for wine-tasting, corporate and social events. The winery also boasts a large outdoor area ideal for outdoor events. The breathtaking view from the winery, offers tranquility and serenity, allowing visitors to enjoy quick access to numerous archeological sites and cultural regions, such as Ancient Nemea, Epidaurus, Stymphalia Lake, Mycenae, Nafplio, Loutraki, etc.

Semeli wines are extended in the following categories: Dry White Wines, Red Dry Wines, Rose Dry Wines and Medium Sweet Wines.

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Contact Details 3 Mitropoleos St., Athens, Greece, 10557 Tel.: +30 210 3256850 Fax: +30 210 3221948 Website: www.semeliwines.gr I 167 I

CREATIVE GREECE 2018

EXPORT LEADERS Industrial

FITCO S.A.

A leading Greek copper alloy producer with significant international presence

Fitco is a subsidiary of the copper processing and marketing segment of Viohalco and a leader in the Greek copper alloy market. With experience spanning more than thirty-five years, the Company invests in research and innovative technologies, aiming to stay ahead of the competition in terms of productivity, product innovation and quality.

Fitco employs a certified Quality Management System in accordance with ISO 9001:2008 and its products conform to the main European and US quality standards (EN, DIN, BS, NF and ASTM).

Committed to sustainable development and environmental protection, Fitco employs certified systems in accordance with the Environmental Management System (ISO 14001:2004) and the Occupational Health and Safety Management System (OHSAS 18001:2007).

Fitco has significant international presence, exporting approximately 86% of its production, and provides exceptional support for its products, which are distributed to more than thirty countries worldwide. The Company focuses on responding reliably and rapidly to changes in demand with the aim of achieving total customer satisfaction.

Fitco product range ● Solid and hollow brass bars (round, squared or hexagonal)

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Contact details e-mail: edamiani@fitco.vionet.gr website: www.fitco.gr I 168 I

● Brass sections

● Brass tubes

● Brass Flats

● Copper

● Brass wire

alloy wire and net for fish farm cages

CREATIVE GREECE 2018

EXPORT LEADERS BEVERAGES Industrial

CHITOS SA

ZAGORI natural mineral water, a Greek Superbrand around the world

Nikos Chitos, President

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CHITOS S.A. is an innovative Greek company ranked amongst the healthiest and the most dynamically developing industries throughout Greece. With a presence of 30 years in the Greek market, has reached the leading position in the bottles water industry, meeting consumers’ needs and creating a strong relationship with them.

CHITOS S.A. is constantly pursuing a longterm investment strategy, without borrowing, by increasing its human resources and boosting its exports. It operates in Greek and international market, trading Natural Mineral Water ZAGORI to more than 24 countries around the world (USA, Canada, Australia, Russia, E.U., Balkans, South Africa, China and others). The label “Natural Mineral Water ZAGORI” has been translated into 10 foreign languages, while the product is bottled in packaging that meets the requirements of each foreign market and consumer needs per each country.

Enhancing its strong export orientation, the company, participated for the first time, at Anuga Fair 2017, in Cologne, Germany, the biggest Food and Drink Exhibition worldwide. There, It presented

Natural Mineral Water ZAGORI, showing the strength that Greek products have in international market and proving that ZAGORI is a worthy ”ambassador” of Greece abroad.

At the moment, the company exercises its ownership rights into two springs of natural mineral water and two bottling plants in the wider area of Zagori, Perivleptos and Kranoula. It also operates a third plant in the Industrial Zone of Ioannina, which is vertically and supportingly boosts the operation of the two bottler plants. CHITOS SA applies the most innovative bottling technology systems, a full range of products and packaging, so as to be closer and closer to the daily needs of its consumers.

The aim of CHITOS S.A. is, even in difficult circumstances, to create new models of growth and prospect for the country, correlating “ZAGORI” with progress and development.

In this context and with constant effort, CHITOS S.A., with natural mineral water ZAGORI, aims to be a conscious preference for consumers, exemplary partner for its clients and responsible company for the society.

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Contact Details 12th klm of Ioannina - Konitsa, 455 00 Ioannina, Τel.: +30 26510 61843 Fax: +30 26510 37074 Website: http://www.zagoriwater.gr I 169 I

CREATIVE GREECE 2018

EXPORT LEADERS Chemical Products Industrial

MEGARA RESINS S.A.

Recognized performance leader in the chemical industry

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Contact details 38th km Neoak, 19100, Megara, P.O. Box: 29 Tel.: +30 22960 83311 Fax: +30 22960 83335 E-mail: info@megararesins.com Website: www.megararesins.com I 170 I

Megara Resins S.A. is a diversified manufacturer and supplier of raw materials for industrial and architectural coatings, as well as rosin-based and other synthetic resins for the paint, adhesive, paper and construction industries. The company was established in 1961 and for over 50 years it has been a pioneer in creating innovative technologies to help coatings formulators meet their customers’ most demanding applications.

Today, Megara Resins remains firmly committed to the pillars of innovation and new technologies and is widely regarded as being the most innovative Greek supplier to the coatings industry through its continued investment in R&D, technical support and new product development. Being equipped with highly modern manufacturing facilities, it offers its customers advanced and diverse products and technologies for surfaces with an emphasis on environmentally friendly products, such as powder coating resins & additives, rosin dispersions, alkyd resins, water-based acrylic dispersions, and unsaturated polyester resins.

Megara Resins holds a strong manufacturing base in Greece operating in three sites situated in Megara (HQ), in the west Peloponnese and in Vathi Avlidos near Chalkida. “AKFA”, the latter, is the result of a strategic joint venture with a Turkish partner “Ak-Tas Dis Ticaret AS”, where in addition to its production units, at the plant site there is a modern logistics complex comprising a docking facility and a tank farm for the storage of liquid chemicals, of a the capacity of 15,000m3.

Megara Resins continues its strategic global expansion and business development in developed & emerging markets. In 2016, the Group reported sales of 58.0 million euros, up 13% compared to a year earlier, as a result of organic growth and intense export activity with key presence in more than 53 countries, accounting for over 80% of its sales. Megara Resins was awarded as «Top Industrial Export Company» at the 6th Greek Exports Awards 2017, as a result of its organic and solid export growth in developed and emerging markets. The group aimed to gaining a substantial premium on its cost of capital investing in innovation, as it is the enabler for continued growth. In this direction, profits before taxes exceeded 6.0 million euros, in combination with reduced short and long term loan obligations.

Innovations based on effective and efficient research and development, are an important growth factor for Megara Resins. A highly proficient team of senior scientists are dedicated to research in the field of binders for powder coating resins, architectural coatings, construction, and paper sizing, and to providing our customers with the most innovative, highest quality value-added products and services possible. The company’s research activities are supplemented by an international network of collaborations with leading universities, scientific research institutes and partner companies.

Megara Resins participates successfully in several EU funded research projects through which it targets the development of new products via strategically beneficial collaborations that require skills and competences matching the company’s industrial interests and development needs. Participation in R&D projects has enormous benefits in terms of contacts, opportunities, identifying new and emerging markets for its products, and thus being at the cutting-edge of innovation. This is how the group ensures long term business success with chemistry-based solutions for almost all sectors of industry.

It is evident from the above that the company, having entered the era of enlargement and development is growing rapidly. Using the latest years’ achievements as a stable starting point, the company moves towards an extensive program of complete automation and modernization. However, Megara Resins operates in compliance with the law and adhere to high ethical standards.

CREATIVE GREECE 2018

EXPORT LEADERS Hotel Commercial

TEMES S.A.

A PREMIER DESTINATION DEVELOPER & OPERATOR

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Contact details

TEMES S.A. is a premier destination developer & operator in the high-end tourism and real estate sector. Costa Navarino, its flagship development, is one of the largest tourism investments in the Mediterranean. Based on solid financial foundations, the development will ultimately comprise five resort areas covering a total area of 1.000 hectares with 5-star hotels, quality facilities and at least four world-class golf courses.

TEMES has fulfilled the vision of its founder, Captain Vassilis Constantakopoulos, to establish his homeland Messinia as a top international destination. In 2014 the Olayan Group, a major global investor, joined TEMES as a shareholder.

COSTA NAVARINO, the prime, sustainable destination in the Mediterranean, is located in Messinia in the southwest Peloponnese, amidst one of the most unspoiled and breathtaking seaside landscapes, in a region shaped by 4,500 years of history.

Navarino Dunes, the first resort area, is home to two luxury 5-star hotels, The Romanos, a Luxury Collection Resort and The Westin Resort, Costa Navarino; The Dunes Course – the first signature golf course in Greece- Anazoe Spa, a 4,000sq.m. spa & thalassotherapy centre; the state-of-the-art conference centre House of Events; specially designed facilities for children; as well as a variety of gastronomy venues, sports, outdoor and cultural activities.

Navarino Bay, the second area is home to the second signature golf course, The Bay Course.

Two new signature golf courses at Navarino Hills overlooking the historic bay of Navarino, as well as two further luxury hotels located at the resort areas Navarino Bay and Navarino Waterfront, are currently under development.

Navarino Residences are a collection of luxury villas for private ownership, with sizes varying from 300m2 to 1,000m2 gross indoor areas, all in spacious plots from 1,500 m2 to 3,000m2.

Located just a few meters from the beach or nestled among verdant olive groves, the villas offer unobstructed views of the Ionian Sea for life. Navarino Residences were named “Best International Residential Development 2017-2018” at the International Property Awards.

Costa Navarino’s philosophy is driven by a genuine desire to promote Messinia, while protecting and preserving its natural beauty and heritage. Costa Navarino adheres to strict environmental protection guidelines and management principles, recognizing the significant contribution of a pristine natural environment to the development of a sustainable tourism product. Costa Navarino was awarded “Best Sustainable Destination” in 2014, by the World Travel & Tourism Council’s Tourism for Tomorrow Awards, highlighting the position of the destination as a global leader in sustainable practices. TEMES has developed several environmental programs in cooperation with the University of Stockholm, the Academy of Athens and environmental NGOs. In 2016, Home Holdings, whose shareholders are TEMES and D-Marine Investments Holding B.V., concluded the acquisition of a majority stake in the share capital of Ionian Hotel Enterprises S.A., owning company of Hilton Athens.

5 Pentelis St. 17564 Athens, Greece Tel.: +30 210 9490 000 Fax: +30 210 9490 218 Email: info@temes.gr Website: www.costanavarino.com The Westin Resort, Costa Navarino: http://www.westincostanavarino.com/ The Romanos, A luxury Collection Resort: http://www.romanoscostanavarino.com/ I 171 I

CREATIVE GREECE 2018

EXPORT LEADERS COFFEE PRODUCTS Commercial

KAFEA TERRA

The fresh “blend” in the Greek coffee market, dedicated over 30 years to three pillars: The Bean, The Blend, The Barista.

Niovi Kallergi, Director of Marketing & Communication

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Contact Details 12-14 Naxou St., 19002, Paiania, Attica Tel: +30 213 090 5500 Fax: +30 213 090 5599 Ε-mail: info@kafeaterra.gr Website: http://www.kafeaterra.gr I 174 I

A fresh “blend” in the Greek coffee market signifies the merger of KAFEA EMPORIKI TECHNIKI S.A. and ATTICA TERRA FOOD & DRINKS S.A., with the absorption of the first by the latter, as of January 1st 2018.

The company resulting from the merger bears the name KAFEA TERRA Food & Drinks COMMERCIAL & INDUSTRIAL S.A., consistently pursuing its activity in the exclusive import and distribution of internationally renowned and acclaimed premium quality products - with espresso illy being its flagship brand - as well as the production of espresso Dimello in Greece and its distribution both in domestic and international markets.

The consolidated company, which occupies 150 employees, holds a leading position in the Greek market, possessing the largest national network in the HO.RE.CA. sector.

At the same time, the company owns an ultra-modern, integral coffee production unit of European specifications.

The total capacity of the coffee bean production line, is more than 1500 kg / hour, while there are two more, mainly for ground coffee, with all the corresponding automated systems.

The company has a - unique in Greece and the Balkans - integrated pre-cleaning system of green coffee, which consists of three separate stations: ● a new type of screen cleaner system, ● a dehumidification system and, of course, ● the spearhead, color-sorter.

The annual turnover for both companies in 2017 was approximately 60 million euros, while profits after taxes are expected to reach 8 million euros.

The portfolio of products that the company imports and exclusively distributes to the Greek market include, among others, high-end French tea Dammann Frères, as well as Kölln oats.

Furthermore, it imports and channels the quality chocolates Monbana and Chocolanelle, as well as the 1883 Routin syrups to the food service sector. The company also represents La Marzocco and Faema, the leading companies of professional coffee equipment, by importing their coffee machines.

Today, after a successful course of 30 years, the company continues, with consistency and dedication, on the same axis of expertise, innovation and development of excellent espresso, which is summarized in the evolution of the three pillars: The Bean… collaborations with utmost respect to coffee farmers, who do their best to offer us the most beloved seed of nature.

The Blend… implementation of modern technological infrastructures and inexhaustible research, with a passion for continuous improvement and advancement.

The Barista… training for an excellent result in the cup that takes consumers on a journey to the magical world of coffee and puts a smile on their faces!

CREATIVE GREECE 2018

EXPORT LEADERS PHARMACEUTICALS Industrial

Mr. Efthimios Anastasiou (left), Vice President & CEO and Mr. Ioannis Anastasiou, Chairman & CEO

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Frezyderm

The skin science FREZYDERM is a Greek company founded in 1986 by Mr. Anastasios Anastasiou with the aim to design, produce and market dermatological products. The company’s main goal was and remains the design and production of safe and effective high-quality products with strict pharmaceutical criteria.

In the following five years, in order to continuously upgrade its products and develop new products and meet the needs of both the medical community and the consumer community, FREZYDERM created a Dermo-Cosmetics Research & Development department, with the objective to renew older products according to European legislation, as well as new developments in the scientific research field. Based on the above, FREZYDERM has been led to develop collaborations with European Universities to study and evaluate its products, as well as to exchange information and new data on all types of cosmetic products.

The firm’s continuous growth led to the construction of its privately-owned factory in Metamorfosi, Attica, which started in 1997. It is a modern and well-organized production unit for specialized cosmetic products, featuring research laboratories (400m2) staffed by well-trained and highly specialized scientists, as well as a vertically integrated production line (1,500m2) and storage facilities (1,000m2) for raw materials and finished products, all built in accordance with the latest EU guidelines. The complex enabled the company to directly serve 4,500 pharmacies in a short period of time, while also cooperating with the country’s 100 most dynamic pharmacy warehouses.

Today FREZYDERM is run by the two sons of its founder, Mr. Ioannis Anastasiou, Chairman and Managing Director, and Mr. Efthymios Anastasiou, Vice President and Managing Director of the factory. The firm boasts a portfolio of more than 200 products and employs a staff of 205, in the administration, production, medical, sales and logistics departments.

In addition to its successful course in Greece, FREZYDERM has effectively penetrated international markets, having developed a successful B2B strategy that put it among the most innovative partners.

So far, the firm’s extroversion has resulted in its products being available in more than 20 countries.

In 2013, FREZYDERM was ranked 13th in the 20 fastest-growing Greek manufacturing companies in the four-year period 2010-2013, on Fortune Greece’s list. In 2016, the company was named top Superbrand with the highest rating in the Personal Care category. In 2017, it also received an honorary distinction at the institution “The Leaders of Greece’s Economy”, and was awarded in the category “GREEK BUSINESS CHAMPIONS”.

In 2016, the cosmetics company reported a rise in sales to 39 million euros, up a spectacular 19.7% compared to a year earlier. Pre-tax earnings amounted to 6.17 million euros against 5.14 million euros in 2015. The company’s level of borrowing is remarkable, as it was more than halved from 4.73% of turnover in 2015 to 2.1% in 2016, down 55.60%.

In 2016, the company was the No. 1 brand* in the following categories: personal care (12.02%), unisex beauty products (20.53%), personal hygiene (13.11%) and baby hygiene & care (41.64%). *Data: IMS, Pharmacies sell out data - values, MNF, 2016

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Contact Details 75 Menandrou St., 10437 Athens, Greece Tel.: +30 210 5246900 Fax: +30 210 5244433 Email: info@frezyderm.gr Website: https://www.frezyderm.gr I 175 I

CREATIVE GREECE 2018

EXPORT LEADERS BEVERAGES Industrial

LOUX MARLAFEKAS SA

Loux: never ending innovation!

Ioannis Marlafekas, President & CEO

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Contact details 88 Agiou Stefanou St., Saravali, 265 00 Patra, Achaia, Greece Τel.: +30 2610 529680-1 Fax: +30 2610 529682 Email: info@loux.gr Website: https://www.loux.gr/ I 176 I

Loux - Marlafekas is the largest, Greek-owned soft drink and juice company in Greece. With seven brands and a wide range of soft drinks and juices, Loux holds firmly the 2nd place in market share among other multinational and equally known companies in the sector. Growing and expanding under competitive circumstances, Loux has adopted the sheer mentality of combining fruitfully high quality, passion for development, perception and hard work, which enables it to stand out day by day.

Today, Loux operates three company-owned, state-of-the-art facilities in the Peloponnese, a production, bottling and distribution facility for its products, while a new logistics center was added in Attica in 2008. This progressive step was part of a large facilities upgrade investment plan, valued at over 20 million euros since 2007, designed to enable Loux to keep up with growing demand and proceed with the production of new, innovative products.

In 2016 Loux introduced the new generation of innovative light soft drinks loux plus’ n light, the first light refreshments with only natural sweeteners (fruit sugars, fructose and herbal sweeteners), without any added sugar and 60% less calories. Willing to expand the exclusive expertise in natural sugar consistency, the company launched in 2017 the loux plus ‘n light tea, in peach, red fruit and lemon flavors that follows the philosophy of plus ‘n light products, responding to consumer needs for balanced nutrition, while preserving Loux commitment to unrivaled quality, rich flavor and unique pleasure.

Loux has received multiple distinctions and awards over the past decade. One of the most important highlights was in 2014 when Loux was named “Supporter of the Greek Presidency of the EU Council”, turning Loux into the official soft drink of the Greek Presidency. In addition, March 2016 was linked to the announcement of Loux as “Public National Champion” in the European Business Awards 2015-16 among the 36 other very popular competing Greek companies, while on the occasion of the European Business Awards 2016-17 Loux received the title of “National Champion”. It only took one year until Loux soft drinks became (March 2017) the first Greek refreshments to be selected as the top Superbrand in the category of non-alcoholic beverages, in the history of the competition of “Superbrands”. Furthermore, Loux achieved double success at the ceremony of Made in Greece Awards 2017, since it received the award for “Most Famous Greek Product” and a prize for “Excellence in Business”. These rewards constitute a recognition of its long presence in both national and international markets, and its well-applied steps towards attracting an impressive number of worldwide consumers. Loux has also managed to confirm its strong appeal to the international market, by winning the title of “Best Soft Beverage” at the Gulf Innovation Awards 2017.

Despite the challenging conditions in the market, Loux has achieved steady growth, ranking among the most successful Greek companies. The firm has zero bank debts, is self-financing its investments and attempts to maintain its transparent profile by following a steady pace of regular upgrade.

Loux currently employs a stall of 130, including external workers all over Greece. This is complemented by a nationwide distribution network comprising of some 450 representatives, which enables Loux products reach over 40,000 points of sale. The company contributes in job creation on a local and national level, having increased its workforce by 30% in the last 8 years, despite the economic downturn in the Greek market. Loux invests in its workforce and partners, considering its human factor as its most valuable asset and integral part of the company’s development over the years.

Loux exports to some 24 countries worldwide (Canada, Panama, Australia, Korea, Germany, Italy, Netherlands, Sweden, Belgium, Bulgaria, Romania, Hungary, Czech Republic, Austria, Cyprus, the United Kingdom, Dubai and recently, Russia, South Africa, Taiwan, China, Albania and Serbia), and account for 5% of the company’s total sales. The company aims to augment this percentage soon, as markets in the Nordic countries and the Middle East are expressing interest in Loux products. This multinational approach towards Loux brand and products also occurs from its intense presence to highly ranked international exhibitions that host a wide range of specialists of the F&B domain.

Since the 1950s, Loux remains focused on its core values and vision of quality, creativity, drive for innovation and customer respect, while supporting social, sports and cultural initiatives, through an extended social responsibility program. The company’s consistent participation in multiple national and international shows, leads to a constantly increasing number of consumers that indicates Loux’s reliable and solid corporate background.

CREATIVE GREECE 2018

EXPORT LEADERS PHARMACEUTICALS Industrial

GAP SA

Together in health, development and innovation since 1949

GAP is one of the most dynamic and aspiring Greek pharmaceutical companies, operating in 3 principal areas: ● Production and distribution of generic and OTC products in the Greek and International markets (main fields of interest: Cardiovascular/Central Nervous Systems/Infections/ Antiulcerants). ● Development and distribution of EVIOL soft capsule technology products (Vitamins, Food Supplements). ● Contract manufacturing of soft capsules in its state-of-the-art equipped facilities.

GAP’s unwavering commitment to the QUALITY, SAFETY and EFFICACY of its products, from the beginning of production to the final product, have won the trust of healthcare professionals and patients, thus making the company a leader in the therapeutic categories in which it operates. The firm has been among the founders of the domestic pharmaceutical market. Meanwhile, the company’s export activities are continuously expanding, aiming to penetrate progressively into more markets.

Leader in Vitamins and Food Supplements with the EVIOL range Since 1978 with the creation of the first oral vitamin E in the innovative form of a soft capsule, the EVIOL Research and Development department at GAP focuses its research efforts on good health and quality of life, developing the EVIOL range of Food Supplements. ● EVIOL range of Food Supplements are of high quality and nutritional value, using the high-tech soft capsules technology and providing all the necessary nutrients, which in combination with a balanced diet can help in the proper functioning of the body, maintaining good health and quality of life.

The first soft capsule manufacturer operating in Greece One of GAP’s major activities is the contract manufacturing of soft capsules. The company applies soft gelatin capsule technology since the 1970’s.

GAP’s facilities cover 5,500 m², which include the areas of production, technical support, quality control, research & development and storage.

As a specialized partner in soft capsule manufacturing, GAP’s GMP EU-compliant facilities provide: ● Soft capsule Production Lines for pharmaceuticals, food supplements and cosmetics. ● Soft capsule Production Line for highly toxic drugs and hormones. ● Manufacture of any shape, size, color or fragrance in accordance with the customer’s specifications. ● Printing of any logo or text on your soft gels.

Dynamic presence in International markets GAP distributes a large number of products to more than 30 markets such as Europe, America, Canada, Middle East, Far East and Africa.

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Contact details Manufacturing site: 46 Agissilaou str., 17341 Agios Dimitrios, Athens, Greece Offices: 99 Poseidonos Av., 16674 Glyfada, Athens, Greece Tel.: +30 210-9310980-4, Fax: +30210-9338759 Email: gap@gap.gr, Web: www.gap.gr, www.eviol.gr I 177 I

CREATIVE GREECE 2018

EXPORT LEADERS Chemical Products Industrial

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Contact Details IMEROS TOPOS, 19 300, Aspropirgos, Attica, Greece Τel.: +30 210 5589500 Fax: +30 210 4835 007 E-mail: info@vitex.gr Website: http://www.vitex.gr I 178 I

A New International Strategic Alliance | Vitex with TeflonTM VITEX – YANNIDIS BROS is the largest Greekowned company of architectural paints. In spite of the economic recession, VITEX continues to invest and expand. In the period 2012-2017, the firm saw its growth rate jump to 32% in net sales, with a 20% increase in the number of staff. Our trusted brands are briefly described below: ● VITEX - an integrated architectural paints portfolio for decorative and protective solutions ● HERMES - expertise in bituminous waterproofing membranes and asphalt varnishes ● VITEXTHERM - certified external thermal insulation system and anti-crack protection ● EUMARIA - yacht paints for outstanding durability in compliance with all international standards

Constantine N. Yannidis, President of B.O.D.

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VITEX – YANNIDIS BROS

The Group’s activities started back in 1932 with the production and trading of bituminous paper and insulation materials in Greece. In 1960 the company expanded its business to the production of paints and varnishes. The VITEX brand was born!

It was the company’s first product in this industry. The company then was named ERMICHROM, and VITEX was at the time a pioneering plastic paint with innovative characteristics that included the fast-drying time allowing for faster completion of painting projects.

Today the Group has a significant presence in Southeastern Europe, with affiliated companies in Serbia, Bulgaria and Romania, while it exports to over 17 countries across the world. The Group employs a staff of 234 in research & development, sales, production, exports, marketing, quality control and product safety. VITEX has been the

recipient of a significant number of prestigious awards, including the Health & Safety awards, Best Hotel Supplier award, Diamonds of the Greek Economy award, DIY Awards, etc.

This year, the group celebrates the 10th anniversary since the start of operation of the state-of-the-art production plant, which incorporates the most advanced and contemporary technologies and superior standards.

The production sites and buildings are fully company-owned, a sign of the group’s high capitalization. Facilities host two individual production units, a logistics center, R&D lab and the Group’s headquarters. On this production site, we have set high standards in terms of productivity, technology, health safety and environmental performance. VITEX fulfils the commitment and adopts high occupational standards in health and safety processes according to the triple standard

of Quality, Environment and Health & Safety (ISO 9001/14001/18001).

Believing in the potential of penetrating more markets, the group has drawn up an action plan for its expansion to several countries, in an effort to capitalize on the Group’s products superior quality and the capacity of its production facilities. The VITEX brand enjoys a high awareness and preference rate in both the professional and DIY markets.

VITEX – YANNIDIS BROS, inaugurates the new coatings era for Southeastern Europe by launching the new generation matt emulsion paint. Exclusively by Vitex, the new Vitex with TeflonTM introduces the ultimate TeflonTM surface protection technology in coatings. Vitex with TeflonTM was the first product of an exclusive cooperation between Vitex and the world leader in chemicals ChemoursTM for Greece, Cyprus and other Southeastern European countries.

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CREATIVE GREECE 2018

EXPORT LEADERS Spirits Industrial

Hellenic Brewery of Atalanti

Athanasios Syrianos, President and Chief Executive Officer of Hellenic Brewery of Atalanti

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Contact Details Kyparissi, 35200 Atalanti, Greece Tel.: +30 2233097500 Fax: +30 2233097676 Website: http://www.eza.gr I 180 I

Hellenic Brewery of Atalanti (EZA) is a 100% Greek brewing company that started operation in 1989, as a subsidiary of the German beer group Lowenbrau, while a year later it acquired the factory in Atalanti. In 1996, the company was reconstituted and took its current name as “Hellenic Brewery of Atalanti”.

A decade later, the Syrianos family acquired the shares owned by the German group via a management buyout form and five years later the company came under 100% Greek ownership.

During this time, Hellenic Brewery of Atalanti acquired both the knowledge and experience in beer, highly influenced by the know-how of German and Belgian brewers, while focusing on constant quality controls of beer production in the factory of Atalanti.

At the same time, the company managed to enrich its portfolio with high quality imported beers. The year of 1996 proved to be a prolific one for the Hellenic Brewery of Atalanti, as the company produced its first own Greek label, PILS HELLAS, establishing the Greek beer segment that was later en-

riched with products by competitors. On the same wavelength, 13 years later, in 2009, the company produced its second label, BERLIN, a beer of unique taste and quality, with the process of maturing taking place for at least 21 days. The years that followed made Hellenic Brewery of Atalanti a pioneer in draft beer, as the company implemented strong investments in order to acquire all the special equipment, as well as to upgrade its assets and facilities.

Since 2011, Hellenic Brewery of Atalanti set out a completely independent strategy by actively participating in the decentralization of the Greek economy, while the company constantly evolves by producing three new labels, including BLUE island, an excellent fruity beverage, εζα, a beer with amazing taste which competes with the best quality beers of the Greek market, and ODYSSEY, a beer that marks a new category. On the same page, Hellenic Brewery of Atalanti manages to successfully import and distribute other well-known beer brands, such as Gulden Draak and Krombacher.

In 2013, a major capital increase was implemented, as the DAMMA Holdings fund acquired the role of the company’s strategic investor, marking a new momentum for the company’s modus operandi. Following this new path, Hellenic Brewery of Atalanti is constantly investing both in modernization of its assets and production increase at every single aspect. Under these prosperous circumstances, in 2015 the first phase of the investment plan was concluded, with the new can filling plant in Atalanti costing 5.5 million euros.

In Hellenic Brewery of Atalanti, human resources play a vital role in the company’s success, vision and mission. Hellenic Brewery of Atalanti’s people, a large number of experienced and skilled personnel of workers and scientists, constitute the company’s DNA and strength, the extra boost in achieving any goal the company sets.

Hellenic Brewery of Atalanti’s goal is to become a strong entity, as well as a strong and reliable pillar in the brewing sector of Greece, with a simultaneous participa-

tion in the international market. Equally important to the company’s operation is the environmental factor, as the company constantly invests in the best eco-friendly practices, specialized personnel, as well as in local societies and institutions, leaving a strong footprint in society’s wellbeing. Last but certainly not least, Hellenic Brewery of Atalanti actively supports all the positive attitudes and practices towards Greece’s

growth, totally aligned to the national development plans.

Hellenic Brewery of Atalanti’s vision is to become a dynamic and innovative company that will actively fund and support Greece’s national growth effort, by creating everlasting values and new job opportunities, while successfully distributing its products across Greece and abroad.

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CREATIVE GREECE 2018

EXPORT LEADERS SPIRITS Commercial

GREEK WINE CELLARS S.A. THE NO. 1 GREEK WINE PRODUCTION COMPANY

Exporting to more than 30 countries all over the world

Vasilis Kourtakis – President and CEO

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Contact details 20 Anapafseos St., 19003 MARKOPOULO, Attica, GREECE Contact phones: Tel.: +30 22990 – 22231 Fax: +30 22990 – 23301 Email: kourt@otenet.gr Website: http://www.greek-wine-cellars.com I 182 I

“Greek Wine Cellars - D. Kourtakis S.A.” was established in 1895 by Vassilis Kourtakis (1865 1946), the first Greek oenologist in contemporary Greece with degree in oenology.

In the late 1960’s, Vassilis Kourtakis, the third generation of the Kourtakis family and today’s Chairman and Managing Director of “Greek Wine Cellars – D. Kourtakis S.A.”, took over the company’s reins. His entry into the company was accompanied by fresh ideas, youthful drive, and plans to conquer new markets outside Greece.

In the mid-1980’s Vassilis Kourtakis created a state-of-the-art winery in Ritsona, Viotia. The company adopted cutting-edge winemaking methods and engaged in the production of a new range of non-resinated wines. In 1985, the company launched its Apelia range.

In 1992, due to rapid pace of growth of the export, occurred the need to expand its wine portfolio, thus it led the company to collaboration with Calliga winery. “Greek Wine Cellars” would take over both the production and sales of the Calliga products in Greece and abroad, thus adding a premium quality range of wines to its own portfolio. The thrive of exports expanded over 32 countries around the world. In 2000 exports accounted for nearly half of the company’s annual turnover. Rapidly the “Greek Wine Cellars” expanded; through strategic and carefully planned collaborations. ● In 2004, the company bought 50% of the share capital of “Oenoforos S.A.”, consequently selling the “boutique” wines of the noted and respected winemaker, Angelos Rouvalis. ● In late 2009 “Greek Wine Cellars” began a co-operation with the group “Grands Chais de France” to distribute the GCF products in Greece. Subsequently, “Greek Wine Cellars” added to its product range a renowned selection of imported wines, that were previously entirely absent, thereby complementing the company’s own portfolio of Greek wines. ● In 2010, “Greek Wine Cellars” became the sole distributor of the Babatzim products in both Greece and abroad. Anestis Babatzimopoulos is a gifted winemaker and distiller who on his estate at Ossa, near Thessaloniki, produces the famous ouzo and tsipouro that have rightfully earned him the title of “master of distillation”. ● Through this latest commercial partnership the wine choices of this noted vineyard in Macedonia have been added to the “Greek Wine Cellars’” wine portfolio. Also the company has entered the spirits business, selling and distributing the premium Greek distillations of ouzo and tsipouro from Babatzim.

The latest successful deal was concluded in March 2016. “Greek Wine Cellars” became the sole distributor of UNION OF VINICULTURAL COOPERATIVES OF SAMOS (EOSS)’s products.

The production of Samos’ wines, crops a wine that is unique in taste and quality. The selection of sweet and dry wines contains all flavor peculiarities due to their cultivation at altitude terraces of Samos’ island. Thus, the outcome of this collaboration makes “Greek Wine Cellars” the greatest ambassador of Greek wines in the world market.

CREATIVE GREECE 2018

EXPORT LEADERS Rubber – Plastics

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A pioneer in Innovative Packaging Solutions Megaplast is a world leading manufacturer of Perforated & Reinforced Stretch Films in the area of innovative flexible packaging. The company, established in 1995 in Greece, supplies and markets a complete range of innovative packaging materials. Megaplast’s production facilities are located in Crete, while the R&D Center and the headquarters are located in Athens, Greece.

The production site for Megaplast’s products is specifically located in Heraklion, on the Island of Crete. The installations include not only the production lines but also large warehouses for all our products. Megaplast keep their stock in warehouses not only in Greece but also in UK, Italy, Spain, Germany and USA as to better facilitate their customers. Megaplast plant was especially designed to ensure High Production Quality while maintaining top-level safety standards and environmental protection.

Research & Development at Megaplast is accelerating when the world needs it most. Working out of the R&D center in Athens, Megaplast team of highly qualified professionals are working on some of the most exciting projects within the industry.

The Product Family of Megaplast consists of two major categories: 1. Perforated stretch films (AirOfilm) and 2. Fiber Reinforced stretch films (Fiber Film) All of Megaplast products are of high added value and innovative, protected through international patents worldwide.

Megaplast global sales network is supported

by Megaplast Subsidiaries in UK (Megaplast UK Ltd), Spain (Megaplast Spain SL), Italy (Megaplast Italia SRL), Germany (Megaplast Verpackungsinnovationen GmbH), USA (Megaplast USA Inc), and a local office in France. A Local Distri-

Industrial

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MEGAPLAST

bution Network for the Megaplast Group has been developed all around the globe (Europe, USA, Canada, South Africa, Australia, New Zealand, Middle East and Latin America).

Business Culture Megaplast culture is guided by a spirit of excellence. Their nature as a growing up business edifies their values and makes Megaplast group a legacy to be preserved in the long term. That is why Megaplast gives real value to their customers through: ● Innovation ● Market Culture ● Entrepreneurship ● Adaptability & Flexibility ● Focus on long term Strategies Mission To plan, develop, manufacture and market innovative, customer-driven superior packaging solutions that deliver measurable customer benefits.

Vision To become the premier leader in the global innovative flexible packaging market.

Primary Objectives The innovativeness, effectiveness, usability and quality of the products Megaplast produces and distributes.

Values ● Reliability ● Integrity / Merit System ● Respect ● Teamwork Megaplast had and has been continually selected among others as one of the companies that increased their turnover more than 120% within the past 7 years with a growth rate of 25%. The company has been honoured with many awards as one of the Greek enterprises that despite the market difficulties and challenges, continues to grow, to show positive performance and to support the Greece’s economy. For more than 20 successful years, Megaplast is constantly striving for excellence to ensure customer satisfaction, and build strong customer and vendor relationships with respect to the social, ethical & environmental requirements.

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Contact Details Industrial Zone Herakleion Road A/D, 71601, Nea Alikarnassos, Herakleion, Crete Tel.: +30 2810 381412, Fax: +30 2810 381413 Email: info@megaplast.gr Website: www.megaplast.gr/ www.linkedin.com/company/megaplast-group I 183 I

CREATIVE GREECE 2018

EXPORT LEADERS PHARMACEUTICALS

INTERMED S.A.

Value for people, responsibility towards Society InterMed was founded in 1996 by Kleon Tsetis, a pharmacist who envisioned a pioneer manufacturing industry in the medical field, which would contribute to the treatment of everyday needs as well as specific health issues that affect modern humans.

During the years of its operation, InterMed has demonstrated a continuing upward course, focusing on exploring future prospects with regards to international scientific developments and constantly expanding its product portfolio, which is prominent for the innovation and quality. The result of this course has been the establishment of InterMed in the Greek and International markets with brands such as Unisept, Chlorhexil, Eva, Reval and others.

The perpetual effort for development, together with the commitment and expertise of its experienced and well-trained personnel, supports the corporate strategy and its contribution to society.

Industrial

Our mission, vision and values Our Vision: The contribution in healthcare and the improvement of the quality of life of modern humans, through the development and production of innovative products.

Our Mission: The development, production

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Contact Details 27 Kaliftaki Str., GR- 145 64 Κifissia, Attica, Greece Τel.: +30 210 6253 905 Fax: +30 210 6253 906 Website: http://www.intermed.com.gr/ I 184 I

and distribution of innovative pharmaceutical and parapharmaceutical products, covering the daily, general and specific needs of modern humans.

Facilities The headquarters are located in Kifissia, in a modern building complex, with a total area of 17.000 m2, just a few kilometers north from the center of Athens.

The premises are comprised of: ● Headquarters and Laboratories 8.000 m2 ● Industrial Facilities 4.000 m2 ● Finished Product Warehouse 2.000 m2 ● Other Storage Facilities 3.000 m2 Research & Development Cutting- edge Technology We are bound to research, since innovation is our daily concern, in order to offer solutions of high added value and quality.

Research & Development Department collaborates directly with both the Quality Control Department and the Production Department.

In addition, this department monitors new legislation related to InterMed activities, as well as innovations in pharmaceutical and cosmetic technology, thus ensuring that InterMed is in the forefront of industrial development.

Department of Pharmacology and Cosmetic Technology The Department of Pharmacology and Cosmetic Technology is responsible for developing new products and improving the ones already marketed. It operates with highly trained scientists who, through collaboration with research teams and Academic Institutions all over the world, apply the latest knowledge and turns it into new innovative products consistent with the needs of modern humans, aiming to the improvement of quality of life.

Registration Department Registration Department is responsible for the creation of the necessary files for the scientific documentation of the products developed by InterMed pharmaceutical laboratories. It also responsible to plan, organize and supervise clinical studies, in collaboration with universities, research centers and independent institutions in Europe.

Commitment to Quality InterMed’s basic commitment is to identify and meet the needs of modern men by applying the current law in order, and continuously improving customer satisfaction, product quality, social and environmental contribution.

InterMed produces its products in accordance with applicable Good Practice Principles (GMP) principles using pharmaceutical raw materials of pure grade.

To ensure excellence in its course towards quality InterMed has been certified according to: ● EN ISO 9001:2008 for applying a quality management system in all processes, ● EN ISO 13485:2012 for applying a quality management system in development, production and distribution of medical devices. ● EN ISO 14001:2004 for applying an environmental management system.

Awards and Recognitions.

Throughout the years InterMed has received numerous awards by both national and international Institutions for its innovative products and business practices. Indicatively we mention the following: EFQM Recognised for Excellence - 5 stars.

Within the nine consecutive years that the company applies the EFQM Business Excellence Model, ΙNTERMED S.A has managed to combine business development with continuous improvement of business processes in key functional areas and to keep raising standards of excellence higher every time.

Investors in People International Accreditation The certification proves that the company’s management considers its people companions in the corporate development and focuses on their empowerment and on securing a healthy, safe and creative future for them and their families. The award ceremony took place on November 24th, 2015, at the premises of the Greek Management Association.

Gold – Award for Business Ethics, awarded by the Greek Chapter of EBEN (European Business Ethics Network). This distinction, came as a result of InterMed’s commitment to the corporate Code of Conduct, to the systematic social responsibility activities as well as its established corporate governance mechanisms.

“Excellence and Competition Award” in the field of Health-Medicine and Beauty, as part of the Salus Index Award Scheme 2017.

Gold Award - Pharmacy Market Excellence Awards 2017 for the Scientific Training of Pharmacists.

“Most Influential Brand” In the context of the Healthplex Expo, Natural & Nutraceutical Products China 2017, which took place in Shanghai in June 2017.

Packaging Innovation Award 2017 – Silver for the innovative design of the product Herbofix.

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CREATIVE GREECE 2018

EXPORT LEADERS PHARMACEUTICALS Industrial

ADELCO

Keeping up a legacy of 83 years in the pharmaceutical and consumer products market

Evangelos Kolokotronis CEO

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Contact details 37 Piraios St. 183 46 Moschato, Attica, Greece Tel.: 210 4819.311 Fax: 210 4816.790 Website: www.adelco.gr E-mail: info@adelco.gr I 186 I

In 1934, brothers Homer and Orestis Kolokotronis founded the Moschato-based company Athens Color Works - E. Kolokotronis Bros SA, with the objective to produce paints and other chemicals. In 1948 the company expanded in order to enter production of pharmaceutical and later cosmetic products.

In the 1970s, Adelco became one of the largest Greek pharmaceutical companies, creating top-quality pharmaceuticals, such as Stedon, Filicine, Minitran, Paroticin and Salopyrine, while at the same time expanding its cosmetics business with OM-OR, the first shampoo manufactured and released in Greece, and a wide range of cosmetic care products. Part of Adelco’s products are exported to countries in Africa, Eastern Europe and the Middle and Far East.

In 1983, Adelco continued to operate under the guidance of Mr. Evangelos Kolokotronis, whose conviction is that “high quality is the basic value and the dominant duty for a pharmaceutical company such as Adelco”.

The company produces about 4.5 million formulations of about 50 forms of pharmaceuticals, originals and branded generics in unique combinations covering a broad therapeutic spectrum, such as Cefatrizine, Neurosedine, Adeprenal, Algine, Acinic, Menago, Clopadel, Cardiostyl, etc. In addition, the firm also produces about 50 kinds of cosmetic products, such as Adelco kids (for children), Intense Spa (for women), Velvet hand & body and Adelco Men’s Concept.

As of 2013, the company’s goal has been to create new collaborations with Greek and foreign companies. It has already expanded its sales to other sectors, such as Pharma Line Food Supplements, which are imported from Italy. Adelco also manufactures Stevia sweeteners with raw materials imported from Paraguay.

In 2017 ADECO took a big step in order to boost its exports to more than 40 countries, establishing two subsidiaries in Australia and Jordan.

Over the last two years, ADELCO has been investing in the modernization of its drug production facilities and lines, and has strengthened its potential with skilled new staff.

At Adelco, we believe that the overall quality that the business has to offer is as important as the importance of good health. That’s what we’re doing every day ... with the goal of perfection.

CREATIVE GREECE 2018

Pharmabelle

EXPORT LEADERS

PHARMABELLE was founded in 2014 in Cyprus, with the vision to offer innovative pharmaceutical and para-pharmaceutical products in the Cypriot and International pharmaceutical markets.

We offer high quality products for the benefit of our customers, helping to address health conditions that concern modern people, by representing the leading pharmaceutical industries of Uni-Pharma and Intermed, and exporting to an extensive network worldwide.

PHARMABELLE provides an extensive range of services to meet our customer’s needs. We aim to develop strategic partnerships with suppliers and companies of the highest standards to yield the maximum outcome for all involved. We are dedicated to quality in every aspect of our company’s activities providing expertise services in: ● B usiness Development (Identification and assessment of products and potential new markets) ● T echnical Assistance (Registration Dossiers, Contract manufacturing, Product development) ● F inished Products (Pharmaceutical, Healthcare, Cosmetics) ●M arketing & Sales (combining scientific knowledge with an extensive sales network).

PHARMACEUTICALS Commercial

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Contact Details 10 Viotias St., Aradippou 7104, Larnaca, Cyprus I 187 I

CREATIVE GREECE 2018

EXPORT LEADERS CHEMICAL PRODUCTS Industrial

VIORYL S.A.

Exports accounting for 40% of annual sales 10% of the turnover on R&D activities

VIORYL S.A. is a Greek company established in 1946, mainly engaging in development and production of industrial fragrances, flavours, fine chemicals, as well as plant nutrition and protection products.

VIORYL’s premises are located in Afidnes, Attica (headquarters and research laboratories) and Thiva, Boeotia (production and warehouse), covering a total floor space of 12,500 sqm in buildings on a 50,000-sqm plot of land.

Thanks to large investments in state-of-the-art technology as well as in qualified personnel, the company is nowadays the leader in the Greek market, supplying clients with innovative, high-quality products.

The dynamic evolution in scientific research, combined with the firm’s commitment to quality and collaboration with customers, provide VIORYL with a competitive advantage that has earned the company an excellent reputation worldwide, contributing to its continuous growth.

VIORYL’s sales topped 21 million euros in 2017, demonstrating consistent year-over-year growth. R&D spending has reached 10% of annual revenue, with an investments plan for the years 2016-2018 of 2.5 million euros, including the installation of new production equipment and new warehouse in Thiva, and new R&D laboratories in Afidnes.

A substantial part of VIORYL’s growth comes from exports, which in 2017 accounted for about 40% of its total revenue. The company has a presence in Europe, Middle East, Africa, Far East and North America, with further expansion planned.

“As VIORYL foresees substantial growth overseas, we aim to further enhance our presence in foreign markets with new products resulting from intensive work in our multidisciplinary research laboratories”. Dr. Nikitas Ragoussis, Managing Director, VIORYL S.A.

Nikitas Ragoussis, Managing Director of VIORYL S.A.

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Contact details 28th km Athens-Lamia national road, Afidnes 19014, Greece Tel.: +30 22950 45100 Fax: +30 22950 45250 Email: vioryl@vioryl.gr Website: www.vioryl.gr I 188 I

www.timetv.gr I 189 I

CREATIVE GREECE 2018

EXPORT LEADERS APPAREL Commercial

DUR SA

Nearly 60 years of history...

Theodoros Douros, Managing Director

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Contact details 80 Marangopoulou St., 26331 Patra, Greece Tel.: +30 2610 224113 Fax: +30 2610 226283 Website: http://www.dur.gr I 190 I

Douros SA is a purely Greek menswear company with a tradition of over half a century, based in Patra and publicly traded since August 2000. It has a wide network of 28 retail stores throughout Greece under the Dur sign, including several shop-in-shop outlets, while it is supported by an equally strong wholesale network. The company employs a direct and indirect staff of 80, actively contributing to strengthening the Greek economy and reducing unemployment. Aside from its domestic business, Dur exports to Alba- nia, Cyprus and Bulgaria. In spite of the downward trend of Greece’s economy since 2009, as well as the intense competitive environment in which it operates (which led to a drop in sales), the company showed a stability and a marginal increase in sales in the last years. Douros, having successfully completed some restructuring moves mainly on operational level, and having stabilized its sales, currently prepares its further growth plans to create new outlets. At the same time, it launched the operation of its e-shop, enabling consumers to buy high quality clothing saving time and enjoying the available offers. At the beginning of 2018, Douros enhanced its e-shop profile and functions as an indication of further adaptation to the new digital era, by maintaining the brand’s aesthetic and corresponding to the “consumer journey” of its followers. Moreover, the firm continues successfully its integrated business while implementing its online and in store “offer” system throughout the year, to attract even more consumers, expecting an increase in sales.

Douros’s philosophy is focused on the Greek consumer who, irrespective of age, wants to stand out in a casual but elaborate outfit. The firm’s goal is to maintain a long-term relationship of loyalty, always re- sponding to the desire to combine their outfit with a brandname, design and quality at the best price. The Douros family, beyond their business mission, also have a strong presence in the cultural, social and sports events in Greece and particularly in the city of Patras. Their targeted sponsorship activity has supported, over the years, events like TEDx that promote young entrepreneurship and that underline new generation’s contribution to the current business world. In addition, Douros’s sponsorship, for 4 successive years, on the occasion of SKAI TV channel’s “Oloi mazi mporoume” race, constitutes the highlight among its social awareness actions, thanks to the important amounts of goods that were donated to the Hellenic Red Cross.

Among the distinctions of Douros’s business program and philosophy, Creative Business Awards 2017 Prize stands out until this day. The company was rewarded for its long and intense presence in the retail menswear fashion industry, as long as for its extroversion and productive involvement to the process of boosting the Greek Economy.

COMPANY HIGHLIGHTS ● The effort to build the Dur brand started some 60 years ago, when founder Nikos Douros began commercial and production activity in cotton garments. ● In 1971, the company acquired the corporate form it has today. ● In the 1970s, the firm developed a very remarkable export potential. ● The position of the company further strengthened in foreign markets in the 90s, taking part in major international garment fairs like SEHM Paris (Salon International de l‘Habillement Masculin), the Koeln- messe Germany and the Pitti Uomo Italy. ● In the 1990s, the specialist retail chain was created under the name Dur Escape Land.

It has been a particularly successful move since it was made without affecting the DUR brand wholesale network. ● Enormous investments were facilitated by the company’s listing on the Athens Stock Exchange in August 2000, raising 7.63 million euros (2.6 billion drachmas). As a result, Douros SA managed to strengthen even more its foundations as it reduced short-term debt and further fortified is own retail network. ● The second generation of the company, led by Theodore Douros as CEO, assumed the management of the firm and revived it through ambitious growth plans.

www.newtimes.gr I 191 I

CREATIVE GREECE 2018

EXPORT LEADERS FOOD PRODUCTS Industrial

EVOIKI ZIMI S.A.

Explore the Traditional Greek Taste of Dough Products

Charalampos Konstantakis President & CEO

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Contact details 14th km National Road Halkida - Edipsos 34400 Kastella/Evia, Greece Tel: +30 22280 23700, Fax: +30 22280 22001 info@evoiki-zimi.gr , www.evoiki-zimi.gr Exports: Zoi Koulouri, Mobile: +30 6942553431, E-mail: exports@evoiki-zimi.gr I 192 I

EVOIKI ZIMI SA was created in 1984 in Psachna, Evia under the name “Zimarika Psahnon” as a small personal industry with the production of traditional pasta, faithfully following the traditional recipes and using only the finest ingredients, with the way of experienced landladies.

During the 90s, Evoiki Zimi expanded its activities in the production of frozen dough products and transferred to privately-owned facilities at Kastella, Evia. The growth of the company led it in 2004 to move part of its production to new modern facilities in the district of Dokos, Chalkida. At the end of the decade the company has presence also in Chania in Crete with one more production unit, and in 2017 a new branch in Karditsa strengthens the company’s fleet. The company vigorously expands the distribution network of its products under the brand names “Zimarika Psachnon” and “Zimi Psahnon” and constantly gains new customers in Greece and abroad.

The success comes with the homemade country style fillo pastry and continues with crust fillo pastry, puff pastry, fillo kataifi, traditional pies, puff pastry pies, pizzas, croissants. Nowadays consumers can find the company’s products in most big supermarkets throughout Greece but also in smaller retail stores. A similar development has been achieved in the exports of products through the continuous development of sales network in the world market.

The company constantly invests in the latest technical equipment and fleet of trucks, in the proper training of human resources and the absolute maintenance of consistently high quality and unique homemade taste of its products, having integrated quality assurance systems EN ISO 22000: 2005, BRC, IFS. Evoiki Zimi under the brand names “Zimi Psahnon” and “Zimarika Psahnon” exports to more than 30 countries around the world, from Australia to America, all categories of products.

The company focused on the wholesale market (catering – horeca) where what is important is the quality of the product, not the brand, as well as on the production of private label products to major wholesalers who already had developed their own brand in local retail markets. Therefore, Evoiki Zimi managed to enrich further the range of its customers and to distribute its products to a much larger market than the one of the Greek Diaspora.

Future plans remain actively seeking new fruitful markets and at the same time developing the existing ones either with new products or new distribution channels. International exhibitions remain a sales development tool and communication with partners and customers, so the company will continue to be present in the most important shows and trade fairs to promote its products.

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