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Editorial

A strong industry with extrovert orientation is needed to tackle the crisis

By Spyros Ktenas

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News coming from various sources is indicative of the fact that something new is being created in the Greek economy and the business scene.

Firstly, Greece’s economy grew at a healthy 1.9% in 2018, up from 1.4% in 2017, driven primarily by exports of goods and services - which exceeded initial estimates for yet another year, and private consumption (+ 1.0% yoy), as the sector has been on a consistent recovery path. The boom in Greek exports continues despite the tough conditions in the international economic environment. Export trends need special mention, as they have not only preserved but also increased their momentum in the second half of the year, when global economic conditions, especially for key trading partners, started to worsen (Italy and Turkey held up to their share in the export markets for Greek products, in spite of the increased instability facing their economies). Total exports of goods and services rose to a new record-high of 34.1% of GDP, from 31.9% in 2017 and 21.0% on average in the period 2000-2009. The above dynamics were assisted by a slowdown in imports, which rose by 2.9% in 2018 against +7.4% in 2017 (further falling to +2.0% in the fourth quarter of 2018). Indicative of the structural recovery in Greek exports is the fact that exports of goods rose 8.4% (at constant prices) in 2018, recording an increase for the 9th consecutive year and achieving a new historical high of 18.8% of GDP in 2018.

Secondly, the country’s business bodies – primarily represented by SEV (Hellenic Federation of Enterprises) – have now realized that the ambitious European target to bring industry to 22% of EU GDP is one-way. In addition, initiatives to this directions have also been taken by: (a) the Federation of Industries of Northern Greece (SBEE); (b) the relatively new business entity “Greek Production”, an industry-focused “recruiter” of productive enterprises of both Greek and foreign interests; and (c) the business entity ELLADIKA MAS, which works on strengthening the Greek industrial sector, aimed at shielding the economy and the country itself. These moves point to a conclusion, as well as to the knowledge gained during the crisis: a national economy based on a strong industrial sector is much more likely to be strong enough to cope with the consequences of the crisis, and eventually ride out of recessionary conditions. This is a conclusion that the EU has reached as a whole: the block should achieve the ambitious goal of boosting industrial output to 22% of European Union GDP. The gap the Greek industry needs to cover is quite oversized as the sector currently accounts for only 9% of Greek GDP. A strong, export-oriented industry is certainly the strongest “antibiotic” to confront the crisis. In this context, New Times embarked on opening the “extroversion chapter” by examining the telling results of a sample of 5,000 businesses. And here comes some more encouraging news: Thirdly, according to the New Times survey, total turnover by the country’s 5,000 largest companies in 2018 recorded a rise by 6.6% (latest published balance sheets). Specifically, sales reported by the sample companies in manufacturing, industry, trade and services rose to €130.8 billion in 2017 from €122.7 billion in 2016. Similarly, overall net profit reported by the sample companies jumped 23.2% to €5.2 billion. Of the 5,000 companies in the sample, 3,796 companies (75.92%) were profitable, while 1,204 companies (24.08%) were loss-making. Focusing on the new momentum being gradually gathered in the economic and business life of the country, we have to highlight the value of production with the aim of extroversion.

ENTERPRISE GREECE is the official agency of the Greek State, under the auspices of the Ministry of Economy & Development, to showcase Greece as an attractive destination for investment and to promote the highly competitive products and services produced in Greece for export. Enterprise Greece assists foreign investors and enterprises to do business with Greece, troubleshoots issues related to the public administration, provides key information about Greece as an investment destination and promotes the investment sectors in which Greece excels. In addition, it promotes Greek products and services to the global marketplace, helps Greek businesses reach new markets, find new business partners, and become more competitive and attractive.

109 Vasilissis Sophias Ave. 115 21 Athens, Greece

Tel.: +30 210 335 5700 info@enterprisegreece.gov.gr

www.enterprisegreece.gov.gr

CREATIVE GREECE 2019

EXPORT LEADERS

AKTINA TRAVEL GROUP ................................................................. 193 ATRADIUS........................................................................................ 202 BOEHRINGER INGELHEIM HELLAS S.A............................................ 154 CABLEL HELLENIC CABLES.............................................................. 144 CHIPITA A.E..................................................................................... 167 CORINTH PIPEWORKS ..................................................................... 140

CONTENTS

CRETAN MILL S.A. - ALMPANTAKIS GROUP OF COMPANIES............ 190 CROWN HELLAS CAN SA ................................................................. 163 DEMO S.A........................................................................................ 166

Editorial: 6 Spyros A. Ktenas

DESFA ............................................................................................. 150

122 Leaders in Extroversion

ELTA................................................................................................. 142

E.J. PAPADOPOULOS S.A.................................................................. 164 ELVAL............................................................................................... 132 ELVALHALCOR.................................................................................. 128 ELVIDA FOODS S.A........................................................................... 192 ENTERPRISE GREECE....................................................................... 136 ETEM ............................................................................................... 126 ETHNIKI INSURANCE CO.................................................................. 134 EUROCERT....................................................................................... 196 EXPORT CREDIT INSURANCE ORGANIZATION (OAEP)..................... 149 EZA S.A............................................................................................ 194 FITCO S.A......................................................................................... 176 GENESIS ATHENS CLINIC.................................................................. 198 HAITOGLOU BROS S.A...................................................................... 173 HALCOR........................................................................................... 130 IDE - INTRACOM DEFENSE ELECTRONICS........................................ 175 IKTINOS HELLAS S.A........................................................................ 180 INTERCOMM FOODS S.A.................................................................. 170

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INTERMED S.A. ............................................................................... 186 J.K. ANASTASOPOULOS & SON S.A. (KRINOS)................................. 200 KARELIA TOBACCO COMPANY INC .................................................. 123 KOLIOS S.A....................................................................................... 168 KRI KRI SA........................................................................................ 172 LOUX MARLAFEKAS SA.................................................................... 174 MEGA DISPOSABLES SA .................................................................. 162 MEGAPLAST.................................................................................... 184 MEGARA RESINS S.A....................................................................... 177 MOTOR OIL (HELLAS) CORINTH REFINERIES S.A............................. 122 NESTLÉ HELLAS SA.......................................................................... 138 NITSIAKOS SA.................................................................................. 135 PHARMABELLE................................................................................ 189 PUBLIC POWER CORPORATION S.A. (PPC S.A.)............................... 124 REGION OF WESTERN GREECE ........................................................ 152 SARANTIS GROUP............................................................................ 165 SEVITEL ........................................................................................... 148 SIDENOR, STOMANA INDUSTRY AND THEIR SUBSIDIARIES............ 146 SOYA MILLS SA................................................................................ 160 TITAN CEMENT CO. SA...................................................................... 155 UNI-PHARMA KLEON TSETIS PHARMACEUTICAL LABORATORIES S.A........................................... 178 VIANEX S.A...................................................................................... 156 VIORYL S.A...................................................................................... 188 VITEX - YANNIDIS BROS S.A............................................................. 182 ZENIΘ .............................................................................................. 161

Creative Greece 2019 index

MEVGAL........................................................................................... 114

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

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

Facing the future with confidence A decade has passed since the start of the Greek crisis, and there are still significant challenges awaiting to be met. It goes without saying that our overarching priority must be to ensure a recovery based on strong and viable foundations.

Within this context, I firmly believe that a forward-facing reform programme, building upon Greece’s strengths while remedying its weaknesses, will result in robust and stable economic growth.

The approach of my party, the New Democracy, is one of implementing much needed, common sense reforms that can bring fast results. We aspire to adopt good practices that other EU member states that faced similar challenges to ours have already introduced and complement those with ideas of our own inspiration.

These changes would fuel a paradigm shift with a focus on a stable tax system that relies on lower tax contributions.

The aim is to create breathing space for Greek companies and foreign investors.

These actions would be coupled with reforms in the public administration and

Greece’s potential stands before our eyes I 10 I

judicial system with the aim of establishing a business-friendly environment. A modern and dynamic education system, not afraid of creating synergies with the private sector, would aim to render Greece the educational epicentre of the South Eastern Mediterranean region.

Additional actions, such as facilitating the creation of company clusters, efforts to attract angel investors and loan- or taxbased incentives for investment would be introduced, creating new opportunities for outward-looking and export-oriented companies. The inescapable outcome of these initiatives would be wealth creation, as well as more and higher-quality jobs for Greeks.

Greece’s potential stands before our eyes.

It only requires political will and vision to uncover it, encourage it and let it blossom.

This way, Greece will be able to deliver on the much-awaited promises of an inclusive economic recovery, offering opportunities to all Greeks, irrespective of background and especially to its younger generation that mostly needs them.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Grigoris Stergioulis Chairman & CEO, Enterprise Greece

Enterprise Greece is the investment and trade promotion agency of the Greek State I 12 I

Greece: Getting down to business Greece is at an exciting turning point, having left behind its recent crisis and moving into a future of economic growth and prosperity.

Important reforms, implemented in the last decade, are bearing fruit: the Greek economy is recovering, public finances have been repaired, and the country’s competitiveness has been restored. Exports and FDI inflows are growing at double digit rates, tourism is booming, privatizations are gathering pace, and Greece offers many advantages and opportunities to foreign investors.

The Greek government has set the goal of roughly doubling FDI over the next few years. Our target is to reach the European average, where FDI inflows are equal to 5% of GDP. Over the medium term, Greece is aiming at increasing the ratio of FDI inflows to 10-15% of GDP. The heart of our strategy depends on Greece continuing its transformation into a more open, competitive and outwardoriented economy. These conditions create an auspicious window for investors to take advantage of the enduring strengths of Greece: a highly educated workforce -- particularly in engineering, life sciences and ICT; excellent physical and digital infrastructure; a profusion of high-quality products ranging from food & beverages, to pharmaceuticals and construction materials; an unbeatable location at the crossroads between three continents; a peerless tourism brand; and, a vigorous start-up ecosystem. There are direct and indirect advantages to foreign investment. Among the direct ones are FDI’s contribution to GDP growth, an increase in employment, boosting extroversion, etc.

Among the indirect ones are the osmosis of techniques, processes, competitiveness and reinforcement of the need for structure modernization, public governance, both central and local, and mainly the social adjustment to the international business culture. In this respect, investment is not an option derived from a crisis, but a necessity for modernization. In the new global map of interdependencies between countries, continents and cultures, Greece must enhance all of its efforts aiming at multi-member investment and export, and claim what it deserves. 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 attracts 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.

The agency has undertaken a number of initiatives with official partners – ranging from Greek local authorities to fellow European investment promotion agencies – to continuously improve the investment framework and the services we offer. Just a few weeks ago, for example, Enterprise Greece hosted special investment training seminars for public officials from around the Mediterranean, and we are currently expanding our official cooperation with the Ministry of Foreign Affairs to promote Greece abroad. We have also signed a number of deals with local municipalities and regional authorities to advance development projects and promote local business ecosystems.

At Enterprise Greece, we work to serve investors and be the advocate for investors and business both at policy and practical levels. Already, we manage qualifying strategic investments through the Fast Track program, which offers a number of major advantages to investors, and we also maintain the Investor Ombudsman, which resolves bureaucratic problems facing projects when they arise. Furthermore, we work closely with local government officials and businesses in the regions of Greece to maximize the business potential of the particular area and to streamline specific projects for investors.

But the fact is that Greece is now already garnering the attention of foreign investors because the country has successfully entered a new era.

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

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LEADERS IN EXTROVERSION

Konstantinos Bitsios

The Challenges Ahead

Executive Vice-President SEV -Hellenic Federation of Enterprises

Exports must be a priority for Greece during this critical phase for its economy I 14 I

Greek exporters have shown remarkable resilience over the past few years. Greek exports have risen by 35% since 2010, reaching 33 billion euros in 2018. This is an important achievement but we need to do even better. In the period 2010-2018, Greece’s export growth ranked 16th in the EU-28.

The challenge for Greek exporters is to tap new markets and new consumers. To seek new opportunities in emerging economies.

According to a 2017 study by the Brookings Institution, 88% of the next one billion people to enter the middle class globally will be from Asia. By 2030, the size of the Asian middle class is expected to reach 3.5 billion people, or 65% of the world’s total population, a staggering increase from 1.4 billion in 2015.

According to the African Development Bank, 34% of Africa’s population has doubled their consumer spending since 2000. This is a 100% increase in less than 20 years! By 2060, the number of middle-class Africans is expected to grow to 1.1 billion.

These new consumers have a strong desire to buy high-quality products. So it is important for Greek exporters to study these markets, understand their consumer needs and take advantage of the opportunities they offer for export growth.

Let me mention a few trends. The growing global concern for our planet’s future is important: a report by Unilever states that 33% of consumers choose brands they believe are doing social or environmental good. The same study maintains that a 1-trillion-euro market exists for brands that make their sustainability credentials clear to the consumers. This trend is likely to

grow in the coming decades.

Another factor of interest to Greek exporters is that demand for healthier food is on the rise. Global sales of healthy food products are estimated at approximately $1 trillion, while 88% of consumers declare their willingness to pay more for healthier foods. Greece has a long tradition in healthy nutrition, with the Greek diet recognized internationally as a source of longevity and good health. However, we have not reaped the benefits of this comparative advantage.

Greece needs more manufacturing and more technology, although we have a good base from which to build. New technologies are altering production methods and employment norms in manufacturing. Taking advantage of these developments and using them to our benefit is necessary if we want to remain competitive.

SEV has initiated ExportReady, a comprehensive program for Greek exporting companies. We offer seminars and workshops on specialized export topics, as well as strategic intelligence to exporters, including market intelligence, specialized workshops and helpdesk services. Lastly, we organize trade missions and business networking for Greek companies in cooperation with the Foreign Ministry. We focus on new markets, placing emphasis to Asia and Africa.

Exports must be a priority for Greece during this critical phase for its economy.

We need to be proactive about pursuing our interests in the world. The opportunities are there, markets are there to be tapped, and deals are there to be done.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Athanassios Savvakis President of the Federation of Industries of Greece

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

Numbering more than 450 member companies, coming from all sectors of manufacturing, SBE’s primary mission is to defend the moral, economic and professional interests of its members.

SBE plays an important role in shaping decisions and policies for regional development, investment promotion, employment, and sustainable development.

SBE, through its management and departments, offers its members quality services for documentation, information and advices for solving their daily problems and promoting the principles of entrepreneurship, innovation, internationalization and corporate responsibility.

In July 2018, the status of National Social Partner was conferred on the Federation of Industries of Northern Greece, in accordance with the national act 4554/18.06.2018.

1, Morihovou sqr. Thessaloniki GR54625 GREECE T: +30 2310 539817 F: +30 2310 541933 E: info@sbe.org.gr W: www.sbe.org.gr I 16 I

Restoring Greece’s manufactu– ring sector as a growth engine More and more economies in our days place the center of their growth process upon two pillars: strengthening their real economy in terms of production capacity (i.e. manufacturing) and leveraging their international outreach. In our country we face the same challenges.

However, in the past decades, Greece’s positioning in the European and global manufacturing spectrum has been eroded by the emergence of global value chains, a dynamic process in which we were not able to follow mainly due to the absence of manufacturing among the priorities of the developmental policy. The economic crisis only brought to the surface this dissonance of the economic policy in our country and the distortions that this created.

The economic paradigm followed so far by our country was characterized by aversion to change. Today, things are totally different since rapid change is a necessity; we recognize that we need to change, and we know what and how we need to change. In other words, we know how to create and how to be creative.

Evidence of these two aspects are the achievements of Greek manufacturing enterprises in the last (tough) years: they have managed to increase their share in global markets, combined with improved productivity. These achievements are a positive backlash in the continuing downturn of the domestic market, which gains more importance by the fact that it was achieved despite receiving the minimum support from the state. For this reason, the manufacturing sector is described as a shield against the crisis.

Our challenge is not to sustain these results, but to create the conditions

for leveraging the overall Greek competitiveness. In the effort to revitalize and turn around the Greek manufacturing sector, we need a concrete strategy with a firm vision on modernizing the manufacturing sector to drive innovation and technological adoption (which are the main drivers for change today). This strategy forms the basis for the new industrial policy that Greece, at last, is now starting to formulate.

The Greek manufacturing sector nowadays is characterized by a high level of technological readiness and capitalizes on existing strengths, such as its emphasis on entrepreneurship. But we need to support this manufacturing recovery. The outline two key themes that have the potential to further strengthen our country’s manufacturing sector: Focusing on enabling investments, and Creating the supporting ecosystem for SMEs and start-ups, will position Greece to better compete in the rapidly evolving global manufacturing sector.

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 is crucial. This must be among our strategic priorities in the short-term. But the longer term outlook will be determined by the efforts of Greek enterprises to scale, drive innovation and transfer new technologies and knowledge to production.

The Greek manufacturing sector nowadays is characterized by a high level of technological readiness

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Christina Sakellaridis President of the Panhellenic Exporters Association

Exports 2018: Leverage of Growth and Prosperity Greek exports in 2018 increased for yet another year, marking a new historical record. Against all adversities, they managed to grow at a high rate and contribute to the country’s effort to stand on its own feet. At the same time, they constitute a “brilliant example” of the enormous potential that Greek businessmen undoubtedly possess.

According to the analysis of the Panhellenic Exporters Association and the Center for Exports Research Center (KEEM), based on ELSTAT’s interim data, exports, including petroleum products, topped the 30-billioneuro barrier and reached 33,02 billion euros, an increase of 15.8% compared to 2017.

Excluding petroleum products, exports reached 21.55 billion euros, an increase of 10.4% compared to 2017.

Greece’s exports to the EU (28), including petroleum products, amount to 52.2% of total exports while in 2017 they were 53.1%.

In contrast, exports to Third Countries in 2018 increased to 47.8% of total exports against 46.9% in 2017.

However, imports have increased, too, in 2018 by 4.63 billion euros or 9.4%, at 53.75 billion euros. Excluding petroleum products, imports increased by 849.1 million euros or 2.3% to 37.76 billion euros.

Thus, the trade deficit was marginally up by 117 million euros or 0.6% in 2018, to 20.73 billion euros. Excluding petroleum products, the trade deficit dropped by 1.17 billion euros, or -6.7% to 16.21 billion euros.

It is essential to overcome the low productivity problem facing the majority of Greek businesses I 18 I

Italy remained the top destination for Greek exports in 2018, followed by Germany.

Turkey and Cyprus retained their 2017 ranking in the third and fourth place, respectively. Lebanon has reached the 5th place, while Bulgaria has fallen to the 6th place (from 5th in 2017). In 2018, the USA and the UK changed places, now occupying 7th and 8th place, respectively. Egypt climbed to the 9th place (from 11th in 2017) and Spain to the 10th (from 12th in 2017).

In the new era for Greece, after the end of Memorandums and the tough supervision, we need to seize the opportunity presented in order to build a sustainable economy which will be based on extroversion and domestic production. This is how we will be able to create surpluses and well-paid jobs. It is essential to focus on increasing productivity and lifting disincentives that hinder recovery.

It is essential to overcome the low productivity problem facing the majority of Greek businesses. In this way, we will be able to meet the demands and challenges of the world economy.

The Panhellenic Exporters Association, with 74 years of experience and the responsibility of representing the Greek exporting companies, has submitted to the Government a set of proposals in order to strengthen extroversion through the support of entrepreneurs, from the primary sector and agricultural products to the economy’s tertiary sector.

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 of Panhellenic Exporters Association

n Development of Export sectors - January - December 2018/2017 VALUE 2017 (millions euro)*

VALUE 2018 (millions euro)*

CHANGE %

OIL PRODUCTS-FUELS

8,979.5

11,480.7

27.9%

INDUSTRIAL GOODS

4,571.4

5,183.7

13.4%

FOODS & LIVE ANIMALS

4,291.1

4,517.5

5.3%

CHEMICALS

3,025.3

3,445.2

13.9%

MACHINERY

2,531.2

2,864.1

13.2%

MISC. INDUSTRIAL GOODS

2,029.4

2,232.4

10.0%

RAW MATERIALS

1,284.3

1,361.9

6.0%

DRINKS & TOBACCO

706.5

711.5

0.7%

OILS

561.3

685.3

22.1%

CONFIDENTIAL PRODUCTS

530.6

550.4

3.7%

28,510.6

33,032.7

15.9%

PRODUCT CATEGORY

TOTAL

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

n EXPORTS DESTINATION YEAR (billion euros)*

2017

E.U. THIRD COUNTRIES TOTAL

2018 15,14 13,37 28,51

17,31 5,72 33,03

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

n EXPORT SHARE BY SECTORS - 2018 35

■ Remaining Sectors

■ Oil Products

30 25 20

18,65

19,53

21,55

6,81

8,98

11,48

2016

2017

15 10 5 0

EXPORTS/YEAR (billion euros)*

2018

2016

Oil Products Remaining Sectors Including Oil Products

6,81 18,65 25,46

2017 8,98 19,53 28,51

2018 11,48 21,55 33,03

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

I 19 I

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Dr. Georgios

Investment, a prerequisite Konstantopoulos for the attainment SEVE’s President of economic growth

SEVE is the largest association of exporting companies in Greece, representing 725 enterprises and business groups I 22 I

It is a common belief that Greece’s economy is gradually improving, as the 3rd economic adjustment programme came to an end in August 2018. Several figures indicate the improvement in our economy such as the significant drop in the unemployment rate which fell to 18.6% in October 2018, compared to 21.0% in October 2017, and the 2.2% GDP growth in Q3 2018. In addition, Greek exports rose to 33.4 billion euros in 2018, recording an increase of 15.7% yearon-year and hitting a new historical record.

However, apart from these optimistic and promising figures, we should deep into every aspect of the Greek entrepreneurial scenery, in order to tackle the existing structural problems. More specifically, in 2018 imports increased by 9.5% and as a result our merchandize trade deficit deteriorated.

Moreover, based on a survey conducted

by OECD titled “Revenue Statistics 2018”, Greece was the leader regarding the increase in taxation. Taking into consideration that foreign direct investment in Greece dropped from 1.65% of GDP in 2007, to 0.29% of GDP in 2017, as well as the fact that there is still huge liquidity issues, there are several steps to be made towards economic growth.

At SEVE, we strongly believe that the first action that has to be taken is the enforcement of extroversion of the Greek enterprises, as we fall short significantly

compared to other EU members in international trade. To be more accurate, exports of goods as a percentage of GDP in the European Union stood at 36.8% in 2017, while in Greece the equivalent percentage was just 15.4%. Moreover, as mentioned before, the tax rates regarding enterprises and employees are really high and this can be hazardous for the Greek economy. Unfortunately, the excessive taxation combined with the malfunction of the banking system create a harsh environment for trade and investment. By tackling these problems, we will be able to attract investment, create new jobs and ultimately improve our economic situation.

Especially investment, is a prerequisite for the attainment of economic growth.

SEVE is the largest association of exporting companies in Greece, representing 725 enterprises and business groups, of which 520 are active and dynamic members, accounting for 40% of Greek exports. SEVE’s mission is to help Greek enterprises promote their products and services in international markets and develop global co-operations with their foreign counterparts. Thus, there is a great sense of responsibility and we strongly believe that we should capitalize on our competitive advantages in order to create a stable economic environment with an emphasis on extroversion.

Source: Eurostat Processing: Export Research & Studies Institute (IEES) © SEVE - IEES ALL TABLES

Top 40 Greek global exports per country in 2016-2018, in value (euro) 2016 Total Greek global exports in value euro

2017

2018

Change 18/17

Share '18

25,463,524,268 28,861,650,885 33,421,944,267 4,560,293,382 100.0%

AT 18/17 15.8%

1 Italy

2,831,933,748

3,070,276,835

3,448,435,221

378,158,386

10.3%

12.3%

2 Germany

1,959,458,878

2,055,900,358

2,151,514,480

95,614,122

6.4%

4.7%

3 Turkey

1,351,252,436

1,952,645,115

2,035,442,542

82,797,427

6.1%

4.2%

4 Cyprus

1,633,114,081

1,853,751,891

1,895,537,406

41,785,515

5.7%

2.3%

5 Bulgaria

1,312,192,892

1,399,194,316

1,490,296,359

91,102,043

4.5%

6.5%

6 Lebanon

1,048,925,528

1,250,294,672

1,489,383,062

239,088,390

4.5%

19.1%

7 USA

1,095,484,348

1,122,833,718

1,370,679,729

247,846,011

4.1%

22.1%

8 United Kingdom

1,076,444,263

1,124,498,526

1,208,461,376

83,962,850

3.6%

7.5%

9 Egypt

750,067,857

755,513,872

1,161,442,066

405,928,194

3.5%

53.7%

10 Spain

703,902,587

701,783,339

1,106,154,080

404,370,741

3.3%

57.6%

11 France

712,889,181

776,054,535

1,016,985,042

240,930,507

3.0%

31.0%

12 Romania

769,092,832

874,205,080

968,585,606

94,380,526

2.9%

10.8%

13 China

328,102,209

473,770,885

901,251,059

427,480,174

2.7%

90.2%

14 Northern Macedonia (FYROM)

566,453,165

642,019,707

798,537,161

156,517,454

2.4%

24.4%

15 Saudi Arabia

447,334,194

680,343,256

725,137,058

44,793,802

2.2%

6.6%

16 Netherlands

612,354,364

625,481,700

666,971,599

41,489,899

2.0%

6.6%

17 Gibraltar

381,417,851

638,502,414

569,672,788

-68,829,626

1.7%

-10.8%

18 Albania

378,317,150

461,118,572

527,541,034

66,422,462

1.6%

14.4%

19 Poland

399,118,163

459,632,695

503,930,214

44,297,519

1.5%

9.6%

20 Slovenia

211,120,881

198,780,477

427,751,020

228,970,543

1.3%

115.2%

21 Libya

331,772,183

266,940,924

427,413,991

160,473,067

1.3%

60.1%

22 Singapore

279,551,315

457,440,779

424,553,228

-32,887,551

1.3%

-7.2%

23 Belgium (and LUXBG -> 1998)

350,416,598

398,159,139

419,535,104

21,375,965

1.3%

5.4%

24 Israel (Gaza and Jericho -> 1994)

270,438,284

442,437,075

400,047,233

-42,389,842

1.2%

-9.6%

25 Malta

226,462,309

250,533,510

368,092,376

117,558,866

1.1%

46.9%

26 United Arab Emirates

241,760,546

255,621,713

320,611,107

64,989,394

1.0%

25.4%

27 Tunisia

102,253,296

146,525,018

293,326,774

146,801,756

0.9%

100.2%

28 Austria

201,972,581

238,994,788

278,612,078

39,617,290

0.8%

16.6%

29 Serbia

224,510,643

252,885,427

269,525,954

16,640,527

0.8%

6.6%

30 Czech Republic

205,786,113

230,883,377

234,117,737

3,234,360

0.7%

1.4%

31 Russia

215,179,172

234,009,322

231,235,109

-2,774,213

0.7%

-1.2%

32 Sweden

185,371,438

195,921,402

225,826,862

29,905,460

0.7%

15.3%

33 Portugal

162,182,637

167,772,918

207,373,476

39,600,558

0.6%

23.6%

34 Danmark

168,914,601

196,048,042

202,834,695

6,786,653

0.6%

3.5%

35 Ukraine

200,452,541

124,764,766

181,620,306

56,855,540

0.5%

45.6%

36 Liberia

76,929,874

117,581,240

179,570,492

61,989,252

0.5%

52.7%

37 Finland

153,465,861

135,381,309

175,756,554

40,375,245

0.5%

29.8%

38 Hungary

127,635,225

139,906,133

172,820,480

32,914,347

0.5%

23.5%

39 Algeria

202,735,335

138,822,496

172,081,003

33,258,507

0.5%

24.0%

40 Canada

137,008,084

152,185,400

162,226,001

10,040,601

0.5%

6.6%

na: Non Available AT: Annual Trend

I 23 I

CREATIVE GREECE 2019

Top 40 Greek global exports per country in 2016-2018, in quantity (100kg)

Total Greek global exports in quantity (100kg)

2016

2017

2018

Change 18/17

Share '18

AT 18/17

413,073,701

432,097,415

447,814,143

15,716,728

100.0%

3.6%

1 Turkey

28,647,474

36,083,990

34,121,684

-1,962,306

7.6%

-5.4%

2 USA

35,822,438

35,529,425

32,850,665

-2,678,760

7.3%

-7.5%

3 Italy

32,019,457

30,993,601

31,665,104

671,503

7.1%

2.2%

4 Lebanon

26,940,338

28,433,755

28,102,176

-331,579

6.3%

-1.2%

5 Egypt

21,883,161

16,303,717

22,186,681

5,882,964

5.0%

36.1%

6 Saudi Arabia

17,540,023

21,966,447

20,101,927

-1,864,520

4.5%

-8.5%

9,254,414

12,246,039

18,050,287

5,804,248

4.0%

47.4%

8 Bulgaria

15,197,495

15,776,347

16,982,003

1,205,656

3.8%

7.6%

9 Israel (Gaza and Jericho -> 1994)

10,023,226

18,586,309

15,609,036

-2,977,273

3.5%

-16.0%

10 Cyprus

13,826,954

16,774,099

13,985,105

-2,788,994

3.1%

-16.6%

11 Northern Macedonia (FYROM)

13,497,748

12,167,840

13,273,534

1,105,694

3.0%

9.1%

12 Germany

11,872,614

11,512,432

11,837,354

324,922

2.6%

2.8%

13 Gibraltar

13,088,424

16,381,940

11,728,099

-4,653,841

2.6%

-28.4%

14 Singapore

10,100,172

14,290,316

11,684,270

-2,606,046

2.6%

-18.2%

15 United Kingdom

10,286,595

8,716,529

9,710,166

993,637

2.2%

11.4%

16 Romania

7,447,548

8,866,708

9,469,218

602,510

2.1%

6.8%

17 France

9,079,488

7,493,464

8,184,002

690,538

1.8%

9.2%

18 Albania

5,409,669

6,424,656

7,119,016

694,360

1.6%

10.8%

19 Tunisia

3,094,337

3,588,440

7,031,598

3,443,158

1.6%

96.0%

20 Spain

6,756,375

4,244,333

6,763,974

2,519,641

1.5%

59.4%

21 Malta

4,233,428

4,534,864

6,726,767

2,191,903

1.5%

48.3%

22 Libya

6,362,257

4,214,281

6,495,127

2,280,846

1.5%

54.1%

23 Slovenia

4,130,730

3,064,384

6,174,996

3,110,612

1.4%

101.5%

24 Canada

5,273,737

5,307,459

5,565,929

258,470

1.2%

4.9%

25 Ukraine

4,265,698

2,995,999

4,826,983

1,830,984

1.1%

61.1%

26 Brazil

3,106,069

1,025,964

4,532,746

3,506,782

1.0%

341.8%

27 Netherlands

4,609,671

3,581,256

4,247,558

666,302

0.9%

18.6%

28 Liberia

2,995,590

2,862,500

4,065,109

1,202,609

0.9%

42.0%

29 Ghana

3,052,911

4,370,308

3,992,771

-377,537

0.9%

-8.6%

30 Poland

3,131,344

3,194,921

3,699,278

504,357

0.8%

15.8%

31 Belgium (and LUXBG ->1998)

3,111,128

3,612,456

3,377,940

-234,516

0.8%

-6.5%

32 Sweden

2,721,276

2,706,491

3,226,021

519,530

0.7%

19.2%

7 China

33 Ivory Coast

786,567

3,833,250

3,067,561

-765,689

0.7%

-20.0%

34 United Arab Emirates

2,744,482

1,816,172

2,920,750

1,104,578

0.7%

60.8%

35 Algeria

9,655,680

3,080,814

2,821,167

-259,647

0.6%

-8.4%

952,060

1,635,077

2,648,458

1,013,381

0.6%

62.0%

37 Montenegro

2,584,207

2,406,755

2,440,607

33,852

0.5%

1.4%

37 Morocco

1,575,722

2,012,014

2,403,119

391,105

0.5%

19.4%

39 Panama (excluding Channel -> 1980)

1,916,253

2,188,075

2,334,346

146,271

0.5%

6.7%

40 Georgia

1,277,974

2,779,503

2,227,913

-551,590

0.5%

-19.8%

36 India

na: Non Available AT: Annual Trend

I 24 I

Greek exports by main industry for the period 2016-2018, in value (euro) 2016

2017

2018

Change 18/17

Share '18

Total Greek exports by main industry in vaue (euro) 25,463,524,268 28,861,650,885 33,421,944,267 4,560,293,382 100.0%

AT 18/17 3.6%

1 Mineral fuels, oils and asphaltic materials

6,896,660,030

8,979,776,797

11,480,662,704

2,500,885,907

34.4%

27.9%

2 Aluminum and articles thereof

1,394,379,206

1,609,531,222

1,756,959,979

147,428,757

5.3%

9.2%

3 Boilers, machinery, appliances, mechanical devices and parts

1,324,342,704

1,326,553,781

1,623,127,090

296,573,309

4.9%

22.4%

4 Pharmaceutical products

1,063,583,219

1,186,363,477

1,473,504,772

287,141,295

4.4%

24.2%

5 Plastic materials

1,021,924,888

1,131,811,906

1,198,410,464

66,598,558

3.6%

5.9%

6 Vegetable and fruit preparations

944,151,866

978,293,768

1,057,191,715

78,897,947

3.2%

8.1%

1,001,425,200

1,042,670,781

1,017,102,660

-25,568,121

3.0%

-2.5%

8 Fresh fruits and nuts

901,251,221

874,647,904

902,317,082

27,669,178

2.7%

3.2%

9 Fats and oils

706,081,123

602,020,580

718,408,020

116,387,440

2.1%

19.3%

10 Fish and crustaceans, molluscs

659,823,058

679,542,079

686,419,229

6,877,150

2.1%

1.0%

11 Copper and articles of copper

454,900,210

599,761,533

672,702,581

72,941,048

2.0%

12.2%

7 Machines, appliances, electrical materials and parts thereof

12 Dairy products

574,973,774

622,354,097

667,676,190

45,322,093

2.0%

7.3%

13 Articles of iron, steel and steel

353,985,265

418,255,317

644,801,172

226,545,855

1.9%

54.2%

14 Cast iron, iron and steel

347,874,958

527,537,844

638,046,961

110,509,117

1.9%

20.9%

15 Salt, sulfur, gypsum, lime, cement

486,169,524

589,189,255

621,342,504

32,153,249

1.9%

5.5%

16 Other products

507,454,648

499,158,106

510,547,121

11,389,015

1.5%

2.3%

17 Tobacco and tobacco substitutes

538,166,997

500,856,896

506,549,716

5,692,820

1.5%

1.1%

18 Clothing and clothing accessories, knitted or crocheted

327,586,683

349,115,918

391,725,961

42,610,043

1.2%

12.2%

19 Cotton

363,113,737

401,742,749

388,805,348

-12,937,401

1.2%

-3.2%

20 Photographic, measuring or checking apparatuses and devices

254,225,370

264,607,298

307,015,774

42,408,476

0.9%

16.0%

21 Miscellaneous products of the chemical industries

225,403,677

268,916,834

306,963,906

38,047,072

0.9%

14.1%

22 Various food preparations

246,273,811

270,684,074

290,418,472

19,734,398

0.9%

7.3%

23 Cereal-based concoctions

218,398,056

241,039,442

272,324,326

31,284,884

0.8%

13.0%

24 Toys for children and adults, entertainment or sports items

193,087,569

229,145,338

270,428,103

41,282,765

0.8%

18.0%

25 Essential oils and cosmetics preparations

226,717,724

240,208,618

258,682,821

18,474,203

0.8%

7.7%

26 Drinks, alcoholic liquids and vinegar

225,843,707

246,333,834

255,062,142

8,728,308

0.8%

3.5%

27 Tanning and dyeing extracts, paints

187,729,160

213,646,345

236,537,698

22,891,353

0.7%

10.7%

28 Garments and clothing accessories

174,006,852

210,946,556

233,989,121

23,042,565

0.7%

10.9%

29 Articles of stone, plaster, cement, asbestos, marble

209,666,787

220,792,832

230,381,057

9,588,225

0.7%

4.3%

30 Paper and cardboard

186,448,009

200,867,771

211,493,919

10,626,148

0.6%

5.3%

31 Furskins and furs

191,497,251

240,255,151

206,505,309

-33,749,842

0.6%

-14.0%

32 Inorganic chemicals

119,308,890

152,959,150

203,399,550

50,440,400

0.6%

33.0%

33 Furniture, lighting equipment, illuminated signs, prefabricated

133,823,889

146,055,600

173,275,030

27,219,430

0.5%

18.6%

34 Motor vehicles, tractors, bicycles and land vehicles

145,300,987

140,720,303

172,155,997

31,435,694

0.5%

22.3%

35 Vegetables

171,551,542

176,934,085

164,476,775

-12,457,310

0.5%

-7.0%

36 Marine or inland navigation

120,166,129

112,048,526

141,388,737

29,340,211

0.4%

26.2%

37 Footwear, gaiters and related items

111,869,124

111,844,254

139,293,483

27,449,229

0.4%

24.5%

38 Cereals

201,670,068

126,684,488

134,679,525

7,995,037

0.4%

6.3%

39 Miscellaneous articles of base metals

106,685,078

119,658,042

133,543,217

13,885,175

0.4%

11.6%

40 Non-woven wadding and fabrics, twine, ropes

119,776,948

132,316,697

129,930,087

-2,386,610

0.4%

-1.8%

na: Non Available AT: Annual Trend

I 25 I

CREATIVE GREECE 2019

Greek exports by main sector for the period 2016-2018, in quantity (100kg)

Total Greek global exports in quantity (100kg) 1 Mineral fuels, oils and asphaltic materials

2016

2017

2018

Change 18/17

Share '18

AT 18/17

413,073,701

432,097,415

447,814,143

15,716,728

100.0%

3.6%

201,978,756

216,260,862

227,048,770

10,787,908

50.7%

5.0%

2 Salt, sulfur, gypsum, lime, cement

86,321,241

87,796,278

82,171,644

-5,624,634

18.3%

-6.4%

3 Various products of the chemical industries

10,124,960

11,418,862

13,394,381

1,975,519

3.0%

17.3%

4 Nuts and fruits, fresh

14,788,923

12,816,304

13,105,616

289,312

2.9%

2.3%

8,093,653

10,959,385

12,203,393

1,244,008

2.7%

11.4%

5 Cast iron, iron and steel 6 Ores, slag and ash

8,979,953

10,013,748

10,739,544

725,796

2.4%

7.2%

7 Vegetable and fruit preparations

6,884,538

6,756,784

7,527,361

770,577

1.7%

11.4%

8 Plastic materials

5,866,914

6,183,817

6,406,556

222,739

1.4%

3.6%

9 Aluminum and articles thereof

5,412,257

5,701,967

5,959,156

257,189

1.3%

4.5%

10 Inorganic chemicals

5,536,385

5,696,746

5,862,664

165,918

1.3%

2.9%

11 Articles of cast iron, iron and steel

2,832,560

3,342,452

5,820,833

2,478,381

1.3%

74.1%

12 Cereals

7,915,551

3,995,824

4,745,367

749,543

1.1%

18.8%

13 Articles of stone, plaster, cement, asbestos, marble

3,549,528

3,725,752

3,596,774

-128,978

0.8%

-3.5%

14 Wood pulp and waste paper

3,354,091

3,571,104

3,428,341

-142,763

0.8%

-4.0%

15 Fertilizers

3,721,451

5,131,873

3,345,851

-1,786,022

0.7%

-34.8%

16 Fats and oils

2,835,404

2,166,855

2,813,650

646,795

0.6%

29.8%

17 Drinks, alcoholic liquids and vinegar

2,397,434

2,578,693

2,801,860

223,167

0.6%

8.7%

18 Ceramic products

1,999,154

2,058,467

2,434,087

375,620

0.5%

18.2%

19 Cotton

2,351,957

2,496,880

2,294,710

-202,170

0.5%

-8.1%

20 Animal feed preparations

1,436,525

1,738,836

2,141,448

402,612

0.5%

23.2%

21 Vegetables

2,045,675

2,095,957

2,069,679

-26,278

0.5%

-1.3%

22 Semen, seeds and various fruits

2,039,859

1,871,486

2,045,040

173,554

0.5%

9.3%

23 Dairy products

1,454,823

1,679,304

1,955,270

275,966

0.4%

16.4%

24 Paper and cardboard

1,644,857

1,685,025

1,910,570

225,545

0.4%

13.4%

25 Cereal-based preparations

1,305,047

1,483,657

1,582,370

98,713

0.4%

6.7%

26 Fish and crustaceans, molluscs

1,304,236

1,425,893

1,436,764

10,871

0.3%

0.8%

27 Other products

1,421,508

1,309,606

1,384,182

74,576

0.3%

5.7%

28 Boilers, machinery, appliances, mechanical devices and parts

1,261,117

1,294,404

1,380,357

85,953

0.3%

6.6%

886,212

1,099,763

1,344,115

244,352

0.3%

22.2%

30 Soaps, prepared candles

1,273,427

1,346,377

1,297,320

-49,057

0.3%

-3.6%

31 Machines, appliances, electrical materials and parts thereof

1,451,328

1,448,781

1,283,401

-165,380

0.3%

-11.4%

32 Copper and articles of copper

969,909

1,092,272

1,178,169

85,897

0.3%

7.9%

33 Tanning and dyeing extracts, paints

805,583

896,542

995,617

99,075

0.2%

11.1%

34 Glass and articles of glass

789,052

707,069

887,878

180,809

0.2%

25.6%

35 Various food preparations

589,730

690,356

787,056

96,700

0.2%

14.0%

36 Tobacco and tobacco substitutes

768,991

658,210

592,636

-65,574

0.1%

-10.0%

37 Toys for children and adults, entertainment or sports

376,849

451,790

562,384

110,594

0.1%

24.5%

38 Meats

368,522

460,093

515,750

55,657

0.1%

12.1%

39 Sugars and sugar preparations

465,901

415,499

487,052

71,553

0.1%

17.2%

40 Motor vehicles, tractors, bicycles and land vehicles

456,560

433,153

485,892

52,739

0.1%

12.2%

29 Wood and articles of wood

na: Non Available AT: Annual Trend

I 26 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Christoforos Sardelis Chairman of the Board of Directors, Ethniki Insurance

With a long history of 128 years and more than a million customers at this very moment I 28 I

The Greek Insurance market in the post-Program era As the Greek economy is struggling to recover and find its pace again, after the expiration of the third adjustment program, the moment of truth is here: which reforms did actually take place, exactly what constituted the constraints in designing the economic policies during the adjustment programs, and which greater public good did they serve? In short, what did we all learn after a decade of austerity?

Not much, is the answer. If we take a look backwards, we will see that the big adjustments in the Greek economy took place mainly on the macroeconomic level – through the cuts of salaries and pensions –, leaving the problematic microeconomic malfunctions out of the equation. Lack of progress on this front, preserved a widespread sense of insecurity, as there is no fiscal space for a regress to traditional policies in handling health, pensions, natural catastrophes etc. What we need is more innovative proposals that could generate and support development without derailing the fiscal balances.

The country has supposedly entered a new era, but according to OECD’s (Organization for Economic Co-operation and Development) latest report, the Greek people remain frustrated with the functioning of the public sector. Almost 80% of the population believe that they are not enjoying the benefits and services they should, considering the taxes they are paying. In fact, the majority of the participants claimed they feel they are paying the same taxes as citizens from other EU countries with higher standard of living. This profound public disappointment and the sense of major insecurity is one of the main reasons why

more and more people are prone to turn towards private insurance. After all, who doesn’t want stability and safety for their health, their family, their property, or their pension?

In the insurance market, one of the major challenges is to surmount problems stemming from asymmetric information, meaning the insurers do not always have access to the information about policy intensions, necessary to design effective insurance products. The public sector, possesses plenty of valuable information – i.e. information on weather events, catastrophe risks the economic vulnerability, risk exposures etc. -, does not make use of it and fuels illusions of effective coverage and benefits. Sharing the rich databases with the insurance industry could improve risk coverage and reduce insufficient protection on health, pension and cat risks, exploiting comparative advantages and complementarities between private and public programs, in line with what you can find in most of the northern European countries.

A collaboration with the insurance industry in Greece could alleviate the financial burden of the public sector, since there are no available funds for long-term planning.

Unstable rules, policy failures, government procrastinations and elusive promises are reasons why this type of collaboration could be useful - if not necessary.

With a long history of 128 years and more than a million customers at this very moment, Ethniki Insurance has a rich portfolio in Life, Health and General Insurance, as well as the know-how on risk and capital management.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Dimitris P. Giannakopoulos CEO & Alternate President, vianex S.A.

The pharmaceutical industry contributes an annual €2.8b to GDP I 30 I

Drug exports: A major GDP growth driver Greek pharmaceutical products in recent years have been steadily occupying second place in the list of the country’s 100 most important export products. In 2018, Greek exports hit a historic record as a whole, with drugs recording a remarkable increase in value and ​​ volume compared to 2017.

Exports of pharmaceuticals rose 30.9%, in turn increasing the industry’s contribution to GDP. Drug exports value in 2018 rose to €1.13 billion from €863.5 million in 2017, while the volume jumped to 30,123 tonnes compared to 24,925 tonnes a year earlier, as shown by an analysis of interim ELSTAT data by the Panhellenic Exporters Association (PSE).

Greek drug production has embraced extroversion in its strategic advantages, resulting to an upward trend in drug exports, especially in recent years. As of 2014, the quantities of drugs exported are steadily increasing. In 2014-2016 –following an apparent impact of the memorandum measures on pricing, the downward trend in values ​​began to reverse. From 2016 to 2017, there has been a significant positive change of 21.4%, culminating in the performance of 2018 with an increase of 30.9%.

VIANEX has been an export-oriented company for decades. Especially in recent years, extroversion has been the firm’s central strategic option for its expansion into new markets, through new agreements and products to export.

In this context, five years ago, Vianex entered a unique deal with Eli-Lilly for the production and export of vancomycin

in the Chinese market, which is still in force to date. Overall, as much as 60% of VIANEX’s production, i.e. some 34 million pharmaceutical products, is exported to 35 countries worldwide: Europe, China, Japan, Middle East and Africa. VIANEX is also a supplier of the World Health Organization (WHO). Even though there is ample potential for further growth of exports, this has not been fully tapped, owing to previous and current government regulations in the pharmaceutical sector.

However, we are constantly investing in new technologies, quality and plant expansion. Vianex’s four factories remain at the forefront of innovation, while the firm is the first in Greece to have completed drug serialization on the basis of new European standards.

The pharmaceutical industry contributes €2.8 billion to the country’s GDP. For every 1,000 euros spent on domestic drug production, GDP is increased by 3,420 euros. However, the growth dynamics and the stimulus it gives to GDP are undermined by the huge amounts of compulsory clawbacks and rebates (estimated at €1.4 billion for 2018) to be paid by pharmaceutical companies. In order to further strengthen the presence of Greek companies in the global market, the unsustainable growth model must be left behind, as the pharmaceutical industry pays almost 70% of earnings in direct and indirect taxes. Even though solutions to drug sector problems are available, Greece seems to be facing a shortage in political will, which is once again sacrificed for the sake of hollow partisan politics.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Ioulia Tseti Chief Executive Officer of Uni-Pharma SA

We stay and invest in Greece with a global perspective I 32 I

We are ready - Tomorrow has already arrived!

Greece of creativity and extrοversion is not a theoretical concept. It is a tangible reality and it is already here.

After many years of pessimism, memorandum policies, horizontal interventions, economic and social constraints, that held Greece back for many years, all of us who contribute enormously to the industrial sector of this country, we say YES to growth, YES to extroversion, YES to competitiveness, YES to Greece of creativity and prosperity.

There is an urgent need to move ahead with confidence in ourselves and our abilities, dedicated in producing excellent results and emphasis towards responsibility for the future of this country and the next generations. The strategic position of Greece, the high level of education and qualifications, especially of the younger generations, the availability of technology, the interconnection with the rest of the world, the focus on the development of competitive, innovative and valueadded products and services, can offer this country the opportunity to create strong, competitive, commercial and industrial enterprises with an international perspective, global culture and mentality.

The brand “Made in Greece” has to travel worldwide, and our products can and should be competitive to the European ones.

Our Group’s philosophy is WE STAY AND INVEST IN GREECE, with a global perspective and orientation, by respecting ourselves, the people, the environment, the community and Greece as a whole.

We have significantly increased the number of our workforce that now exceeds 500 employees. It is worth noting that over the last three “grey” years (2015-2018) of the recession, we have strengthened our workforce with more than 150 new job openings, against all odds.

We invest in the human factor and the professional specialization and development of our employee competencies, sending a positive message for the future of Greece against the brain drain.

At Tsetis Group of Pharmaceutical Companies (OFET) (with pharmaceutical industries Uni-pharma and InterMed, and a commercial company in Cyprus,

Pharmabelle) we are proud of our investments, valued at more than 80 million euros. More specifically, in 2018 our production reached 49 million units, and in particular, UNI-PHARMA produced 42,811,207 units and INTERMED 6,106,934 units.

The Group’s investment plan for the next three years 2019-2021 is valued at more than 15 million euros, with the completion of the revamping of Uni-pharma’s first and historic factory, and the development of a high-tech Logistics Center in 2020.

Extroversion is an important pillar of our Group’s growth path. The firm currently exports to more than 60 countries. Our vision is to place Uni-pharma and InterMed’s products in every home in Greece and households abroad.

We continue to invest both in the Greek and global markets, responding to their specific requirements always dedicated to our robust strategy.

This year, we will focus on the introduction in the European market of two of our products, APOTEL MAX and THYROFIX, as well as on the development of our existing markets in Africa, Asia, Middle East and former Soviet Union.

In the above markets, new licenses will be issued for UNI-PHARMA’s pharmaceutical products and for many other INTERMED product lines, too.

In conclusion, we must all realize that we are an integral part of the global community.

Both Greece and the European Union need an ambitious industrial strategy, in order to remain competitive with the world power players in the markets, such as in China, India and the US, which have placed industrial development as a priority and top issue in their policies and economic agenda.

Already, and for several years, Tsetis Group of Pharmaceutical Companies, without being affected by the negative predictions of those who bet for the economic and social deviation of Greece, has been working systematically and impeccably, focusing on growth, innovation, hyper-value, at the same time contributing positively to the national economy and hence the country’s evolution.

OFET is ready for the challenges ahead!

Tomorrow has already arrived!

The Greek Economy, now more than ever, needs modern, extrovert companies who take action actively in world affairs.

Greek businessmen have the ideas and the enterprising spirit needed in order to expand abroad. For safety in world markets, precious and reliable allies are needed. ECIO’s mission is to effectively contribute to a further development of the “Extroversion” of the Greek Economy.

The Export Credit Insurance Organization (E.C.I.O.), supervised by the Ministry of Economy & Development, is the one and only Greek Export Credit Insurance Agency that offers insurance all over the world, even in “high risk” countries.

It covers Commercial & Political risk up to 95% for Exports & Construction Works with a competitive premium and the Greek State Guarantee.

Wishing to expand its key role in the sector of exports, through the “ECIO - Extroversion” program, insurance in ECIO consists a tool for direct financing for the Greek export companies. 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.

Planning your next steps abroad, contact us and learn more about Exports and Construction Works Insurance & Financing schemes:

Athens Head Office:

57, Panepistimiou Ave. 105 64, Athens, Greece Tel: +30 211 9966200 Email: oaep@oaep.gr

www.oaep.gr

Thessaloniki Branch:

51, Polytechniou & V. Hugo str. 546 25, Thessaloniki, Greece Tel: +30 2310 548718 Email: eciothes@oaep.gr

ECIO is a member of the Berne Union’s “Prague Club”, the Global Association for Export Credit and Investment Insurers

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Elias Athanasiou Chief Executive Officer

Strengthening and facilitating Greek exports is a strategic choice for Hellenic Post I 34 I

Hellenic Post: Investing in Greece’s exports dynamics Mapping out a long-term sustainable growth model for an economy is closely linked to the strengthening of its export character and orientation. Stabilization and growth of the Greek economy, which seems to leave behind the tough times of the financial crisis, is undoubtedly based on boosting exports.

Moreover, the possibility for a country to export to a globalized market where the consumer has access to a huge range of similar products using network services is one of the most reliable indicators of the attractiveness, quality and competitiveness of the products manufactured in it. Given that our exports have been running over the last two years with double-digit rises, we could argue that Greek exports have significant dynamics and have mobilized a significant part of the productive potential and capital invested today.

Greece’s financial crisis could be seen as beneficial in this direction, and I believe that the upward trend in exports will be maintained in the coming years. This is not a coincidence, but it is based on Greek product quality improvement, and on the need and effort of Greek entrepreneurs, mainly due to the crisis and the shrinking of domestic market, to open new markets for their products. I would like to point out here that the interest of entrepreneurs, especially the younger generation, both for participating in international exhibitions and for business missions and B2B contacts abroad, is now truly impressive and could, under certain circumstances, mark a new era in export trade, confirming Greek entrepreneurs’ ability to excel over the years.

In this effort, Hellenic Post, with its experience and expertise in the field of postal services, as well as its strong international partnerships and innovative services, effectively covers all the countries where products of Greek exporters are directed, being a valuable and reliable partner that facilitates and essentially supports their work. It is worth noting that in 2018, ELTA transported an overall 4.8 million parcels and small packages abroad.

At the same time, we provide our customers exporting to non-EU countries, the option of a fast and comprehensive customs clearance service of outgoing mail items at highly competitive prices.

We operate through a network of 31 branches across the territory, as their direct representative, exempting them from the obligation to visit local customs offices to collect items worth up to 1000 euros.

However, our main priority is to further expand our activities in this area. Our aim is to offer, through partnerships with logistics companies that complement our business, new innovative products and services that will meet and fully cover exporting client needs, thus allowing them to concentrate exclusively on their business.

Strengthening and facilitating of Greek exports is a strategic choice for Hellenic Post that is part of the wider modernization and reorganization plan through which we have chosen to meet the needs of this new era. Sustainable development and shaping up a new production model requires extroversion and enhanced competitiveness. It is a national bet that we should work together to win.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Manos Exarchoulakos Marketing and Communication Manager, ZeniΘ

Reliability and innovation will highlight the winner in the market At a most critical turning point of the energy market in Greece, competition among many companies, new products and continuous offers, create choices to the benefit of the consumer but also contain traps. The industry’s communication practices in the form of discounts, ambiguities and unequal comparisons only mislead consumers and ultimately create insecurity. In a growing market, rules at both product and communications levels should be applied by everyone in order to provide comprehensive and clear information. Provider reliability is a vital element in a market that has been affected by past phenomena, even for a commodity that is vital for both households and businesses. At ZeniΘ, we have chosen to be clear and honest about our products, services and prices, but also talk simple to consumers in all of our communications, because this is the only way to maintain the trust we have been building since 2000 with our hundreds of thousands of customers.

ZeniΘ is the 1st provider of integrated energy in Greece, with individual and combined products of electricity and natural gas to households and businesses, to launch the ZeniΘ DUAL ENERGY integrated energy service in the Greek market. At the same time, understanding the different energy products needs of consumers, we launched a series of unique and innovative products, such

ZeniΘ is the 1st provider of integrated energy in Greece I 36 I

as POWER HOME PACK and GAS HOME PACK, ensuring that monthly electricity and gas bills will come “without surprises”, and the new ZeniΘ Power Student, which is addressed to the student community by offering free subscription fees during summer months.

At the same time, we have created services that give more value to the client by showing that we support them with family expenses: Through our free EY ZHN Health Card, we provide access to 3,000 health providers nationwide, including free checkups and health services at preferential prices. In addition, in cooperation with AXA, we provide the free 24/7 HOME EMERGENCY service to meet the technical needs of the home and business of all our customers.

The future of the market will be the big challenge for energy companies. As we witnessed 10 years ago in the telecoms sector – much like the energy industry – following a series of mergers and/or acquisitions, the market conditions finally clear up and the strongest providers survive. Capitalizing on its rich experience in the domestic market, as well as on the international experience and know-how of its shareholder, the Italian ENI, ZeniΘ is set to be a leader in the Greek energy market in coming years, offering innovative and quality services to the benefit of the consumer.

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Dimitris Mathios President of the Federation of Attica and Piraeus Industries

FEDERATION OF ATTICA & PIRAEUS INDUSTRIES

Extroversion is the key to building a strong and sustainable economy I 38 I

Exports: A one-way road to economic recovery The end of the financial support program may be creating stabilizing “respiratory mechanisms” in the economy, but the crisis still evident throughout the economic structure should be treated as a an opportunity, not a threat.

We now have to insist even more so on those elements that bolster the competitiveness of Greece’s economy.

We must insist on the reliable path of reform. We must stick to our growth model, and tackle the statism that has prevailed over many years and has created many problems.

We must insist on facilitating exports, so when the crisis is over, the Greek economy will be prepared to take advantage of the new, improved international economic environment. Because the ‘clouds’ accumulated above the international economy will affect Greece and its export activity. And this is irrespective of the fact that the economy, unlike most other Eurozone economies, maintains some resistance and endurance to the phenomena of the tenacious crisis internationally.

Therefore, instead of sitting back and being content with the -sometimes- positive gains in our exports, we are better off thinking that -as studies have shown- only one-third of Greek exporting companies do so for strategic reasons. The remaining two-thirds export either occasionally (e.g. someone approached them from abroad), or because of the unfavorable conditions of the domestic market.

Extroversion is the key to building a strong and sustainable economy that will generate wealth and new jobs for the benefit of society.

Greece needs a strong production base that will be focused on high added-value products of increased international demand, which will in turn support and substantially promote extroversion.

A point to keep in mind is the fact that amidst a tough economic period for Greece, exporters have succeeded in developing an international cooperation network and increasing their international

activity. Hence, there is great potential for higher exports. But this requires a change in strategy for our businesses, as well as assistance by the State.

A glance at what is happening in the EU (Greek exports’ physical space of action) reveals that the block’s exports to the rest of the world are now higher than ever, since, apart from of all other positive impacts on the EU economy, they also support 36 million jobs across Europe, or two-thirds more than in 2000. Fourteen million of these jobs are occupied by women.

In my view, an aggressive, I would say, export policy should give priority to the abolition of or reduction in burdens and operational and administrative costs related to the production and manufacturing of internationally traded goods, as these together with extroversion --which needs to be aided urgently through targeted and coordinated actions under NSRF programs by 2020-- should be the pillars of Greece’s development.

Our initial and fundamental goal should be to eliminate the multitude of disincentives and establish firm rules at all levels, such as: ● Support to startups through direct financing of actions, without bureaucracy and requiring an advance payment, but coupled with tax incentives for at least 3 years; ● Extroversion of productive sectors through consistent participation in international exhibitions and fairs, and creation of serious and fixed promotion channels of Greek entrepreneurship abroad; ● Boosting public sector efficiency and creativity, through the development of teleworking; ● Globalization of the tourist product combined with upgrading tourism promotion through lobbying and coordinated central planning synergies; ● Attracting productive investments linked to existing local businesses; ● Immediate action to link Universities with business activity.

n Trade Balance (Jan. 2019) Trade Balance (total)

VALUE 2018 (mil. €)*

VALUE 2019 (mil. €)*

CHANGE %

Imports

4.521,8

4.660,3

3,1%

Exports

2.541,3

2.502,2

-1,5%

-1.980,5

-2.158,1

9,0%

Trade Balance Trade Balance (excl. petroleum products)

VALUE 2018 (mil. €)*

VALUE 2019 (mil. €)*

CHANGE %

Imports

3.122,6

3.324,8

6,5%

Exports

1.707,3

1.791,9

5,0%

-1.415,3

-1.532,9

8,3%

Trade Balance

SOURCE: PSE-KEEM. *Analysis of ELSTAT monthly estimates.

n January 2019 Export Destination (total)

VALUE 2018 (mil. €)*

VALUE 2019 (mil. €)*

CHANGE %

Share 2018

Share 2019

European Union

1.313,7

1.484,1

13,0%

51,7%

59,3%

Third Countries

1.227,6

1.018,1

-17,1% 48,3%

40,7%

TOTAL

2.541,3

2.502,2

-1,5%

Export Destination (excl. petroleum products)

VALUE 2018 (mil. €)*

VALUE 2019 (mil. €)*

CHANGE %

European Union

1.195,9

1.263,3

Third Countries

511,4

TOTAL

1.707,3

Share 2018

Share 2019

5,6%

70,0%

70,5%

528,6

3,4%

30,0%

29,5%

1.791,9

5,0%

SOURCE: PSE-KEEM. *Analysis of ELSTAT monthly estimates.

n January 2019 PRODUCT CATEGORIES

VALUE 2018 (mil. €)*

VALUE 2019 (mil. €)*

CHANGE %

PETROLEUM PRODUCTS -FUEL

841,9

736,0

-12,6%

INDUSTRIAL MATERIALS

406,5

374,0

-8,0%

FOOD & LIVESTOCK

341,9

353,1

3,3%

CHEMICALS

246,8

333,9

35,3%

MACHINERY

223,1

232,1

4,0%

MISC. INDUSTRIAL ITEMS

165,8

208,8

25,9%

RAW MATERIALS

113,9

131,7

15,6%

45,3

57,2

26,3%

108,6

46,4

-57,3%

43,2

29,0

-32,9%

DRINKS & TOBACCO OILS CLASSIFIED PRODUCTS

SOURCE: PSE-KEEM. *Analysis of ELSTAT monthly estimates.

Greek exports up 5% excluding petroleum products - marginal drop including petroleum products in January 2019 Following a new historical record in 2018, Greek exports in January 2018 recorded a slight drop by 1.5%. However, there is encouraging evidence that Greek exports are enjoying increasing demand in EU member states, which remain a top destination for Greek products. At the same time, a cause of concern is a decline in Greek exports to Third Countries.

Although it is early for conclusions, it is imperative to further strengthen extroverted Greek enterprises in order to continue supporting the national economy, given the ample liquidity in the international environment.

According to a breakdown of interim ELSTAT data by the Panhellenic Exporters Association (PSE) and the Center for Export Research and Studies (KEEM), exports in January 2019, including petroleum products, dropped slightly by €39.1mn or by 1.5%, to €2.5bn from €2.54bn in the same month a year earlier. On the other hand, nonoil exports rose by 5% or €84.2 million, to €1.79bn from €1.71bn.

Imports also rose in January 2019 by €138.5mn or 3.1% to €4.66bn against €4.52bn in the same month in 2018.

Excluding petroleum products, imports of goods came to €3.32bn from €3.12bn, up by €202.2mn or 6.5%.

As a result of the above developments, the trade deficit increased by €177.6 million or 9% in January 2019, to -€2.16bn from -€1.98bn in the corresponding month in 2018. Excluding petroleum products, the trade deficit increased to -€1.53bn from -€1.42bn, or €117.6mn (8.3%).

Greek exports per geographic region With regard to demand in various geographic regions in January 2019, Greek exports to the EU recorded an increase by 13%, while exports to Third Countries dropped 17.1%. Excluding petroleum products, exports to EU countries rose by 5.6% and to Third Countries by 3.4%.

Greek exports to EU member states, including petroleum products, accounted for 59.3% of overall exports, compared to 51.7% in January 2018, while exports to Third Countries accounted for 40.7% from 48.3% in January 2018. Excluding petroleum products, exports to EU states accounted for 70.5% and to Third Countries for 29.5% of total Greek exports.

Greek exports by industry With regard to major product categories, in January 2019 most industries moved upward except for oils (-57.3%), confidential products (-32.9%), petroleum products (-12.6%) and industrials (-8%).

Product categories recording an increase in the same period included chemicals (+35.3%), drinks and tobacco (+26.3%), misc. industrials (+ 25.9%) and raw materials (+ 15.6%).

I 39 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Constantinos Michalos

Winning the bet of openness

President of Athens Chamber of Commerce and Industry

The Chamber Community systematically supports Greek exporters’ activities by providing qualitative services and claiming policies I 40 I

Today, following a long period of recession and uncertainty, strengthening the openness of Greece’s economy is a major challenge in the path towards the attainment of faster and sustainable growth. That path already sees Greek export undertakings as leaders since they have been constantly achieving excellent performances over the last few years despite ongoing vicissitudes.

In 2018, Greek exports broke a new historic record and thus confirmed the dynamic developed by the exports sector.

According to the available data to date, exports increased at a two-digit pace last year and broke the threshold of 30 billion euro. Specifically, compared to 2017 increase amounted to 15.7% including oil products, and to 10.7% excluding oil products. Forecasts remain particularly optimistic for 2019 as well, given the reinforcement of a climate of stability and trust in the Greek economy. Improvement of Greek exports as to the differentiation of their composition is also a particularly encouraging development thanks to the introduction of new products but also in relation to their geographical orientation, with an increase in sales on the new markets outside the European Union and considerable prospects of growth.

However, the effort to increase the share of exports in the country’s GDP by enlarging the base of export companies, as well as to raise the differentiation and the technological level of Greek products and services has to be ongoing.

The Chamber Community systematically supports Greek exporters’ activities by

providing qualitative services and claiming policies and measures to reinforce the orientation of companies towards exports and the increase in the added value of Greek exports.

Chambers throughout Greece are a basic source of information for those interested in export markets but also concerning the procedures entailed in setting up an export company. Chambers are in contact with the Financial and Trade Attachés of the Greek embassies based abroad, organize trade missions in foreign countries but also missions of foreign countries to Greece, arrange trade participations in international fairs, and follow international programmes of a commercial and financial nature. By continuously following foreign trade issues they can guide people interested in exporting by providing information on potential foreign partners (importers, etc.), on products of interest for the majority of the foreign markets, as well on export and payment procedures, duties and customs. Furthermore, the Central Union of Chambers of Greece has signed a memorandum of understanding with the Ministry of Foreign Affairs and specifically with the General Secretariat of International Financial Relations and Development Cooperation aiming to jointly design and implement initiatives to support the openness of enterprises, entrepreneurial networking and promotion on foreign markets.

Besides our actions and proposals, we are supporting the adoption of measures to strengthen business and investment initiatives in dynamic extrovert sectors, foster innovative

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

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

“The Greek Food & Drink Industry and the new challenges ahead” In a difficult and challenging business environment, both internally and externally, the Greek Food & Drink Industry has managed to stay robust and competitive. It remains a leading sector that currently represents 25% of the Greek manufacturing sector and 4% of the country’s GDP. It has a turnover of more than €14.2 billion and it is a key job provider. Most importantly, in order to respond to the difficult conditions within the local market, our sector has developed a significant exporting activity, with a strong presence all over the world.

It is one of the most important exporting sectors, with exports reaching €4.1 billion, presenting an increase in the last decade.

The Greek Food & Drink Industry is currently facing new major challenges, at national, European and international level. Product reformulation, food quality and safety, elderly population, circular economy & sustainability, are some of the most important topics that require our attention and action. In order to respond to them and achieve sustainable growth for the sector and the economy in general, our emphasis is placed on improving competitiveness and promoting innovation and extroversion.

More specifically, recognizing the importance of extroversion, our Industry

…a leading sector that currently represents 25% of Greek manufacturing and 4% of the country’s GDP I 42 I

makes a major effort towards this direction.

It is very important to strengthen the image of our country across the world, attract new consumers for our products and new investments to boost the local economy. Today, combined with a renewed and qualitative agricultural production, the Greek Food and Drink Industry invests more in producing competitive products (like olive oil, fruits & vegetables, dairy products, traditional spirits, honey), taking advantage of the superiority of the traditional Greek diet and its recognition throughout the world.

Furthermore, as consumer trust and satisfaction is non-negotiable, in the food sector we constantly monitor the worldwide trends, the new nutritional habits and emerging needs for healthier food options and for special nutritional requirements. We aim to produce and offer top quality, healthy, sustainable and affordable products that provide an added value and would delight and satisfy our consumers.

In this rapidly evolving business context, the Greek Food Industry competes actively, ensuring food safety and quality, consumer trust, competitiveness, innovation and environmental sustainability, for the benefit of the food sector and Greece’s economy.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

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

Greek Brewing Sector The Greek Brewing Sector comprises a vital mainstay of the Greek economy, with almost 45 breweries of various sizes operating vividly. The sector, despite the unstable socioeconomic environment of the past years, has proven to be rather strong while it has shown significant improvement in 2018 – an improvement associated with the economic recovery and exceptional performance of the touristic sector this past year. Building upon that, 2019 has started with optimism for our industry.

The previous 10 years period, during the crisis, a disruptive change in market behavior took place, with consumers shifting their preferences from international to local brands, supporting the scaling up of domestic independent breweries and the establishment of numerous local microbreweries. New

Greek beer is advancing I 44 I

visionaries – brewers began innovative ventures and created unique beers, inspired by the Greek tradition and gastronomy. These trends have been shaping the beer industry, changing the sector, while setting a new era for the Greek beer, as a unique product category.

On the same page, international brands and imports gradually decreased.

Those developments mainly highlight one thing – Greek beer is advancing. It is not just the beer produced in Greece anymore, but an exceptional product category with its own culture and identity, setting its footprint in the Greek and international market. The coming years, Greek beer is expected to further evolve, both in matters of gastronomic positioning as well as on a commercial and exports level, turning into a forceful asset for numerous regions of the country while strengthening its economy.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Michail Almpantakis CEO, Cretan Mill S.A. – Member of Almpantakis Group of Companies

Winning a bet under tough circumstances There are positive signs concerning the position of our country and the Greek business sector at a global level, as the steps that have been made towards development are self-evident.

The new circumstances in Greece that were the result of fiscal and financial reforms, have led to overturns and the creation of new targets towards new directions. Greek businesspeople have proven they can play a leading role, with their products claiming the position they deserve in world markets due to their quality and comparative advantages.

Cretan Mill SA and Almpantakis Group of companies are a role model of such companies, as the firm has been taking successful, firm and on-going steps to develop into one of the top companies, not only in the local olive oil market but also by exporting its products to 45 countries all over the world.

Our target --which is completely realistic due to our long-term strategic planning-is to double the exports of our company in an attempt to reach average EU levels.

The goal of fiscal balancing the Greek economy is the focus of the post-program assessment of the International Monetary Fund, which highlights that it should be realized in the frame of a medium-term financial target that has been agreed between Greece and its European partners.

The fact is that there has been a general

Cretan Mill premium olive oils is an ambassador of Crete in the global market I 46 I

improvement in the economy, with exports, investments and private consumption being the pillars supporting this growth.

2018 has been a year in which startups and exports skyrocketed, boosting extroversion. However, it is of utmost importance that any insecurities or fears, which were created in the years of the economic crisis, be overcome. There is a positive tendency towards a better business environment for the near future.

Cretan Mill through its iconic presence in foreign markets, has proven that the most important factors leading to success are having a vision, making a relentless effort and the disposition to work hard to develop the wealth of our island.

The Almpantakis family have been cultivating olive trees since 1866, and have a long history in the production, standardization and trading of extra virgin olive oil.

Nowadays the know-how and the love for the product have been bequeathed to the fifth generation and the family business continues with the same targets: top quality, a fine taste and the preservation of the nutritional value of this symbol of health and strength, the olive oil, by promoting it all over the globe.

Cretan Mill is an ambassador of Crete in the global market, and an example of the hard word it takes to achieve recognition and success.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Dr Konstantinos Pantos Vice President I.H.T.C., Vice President G.G.D.I., Director of Assisted Fertilization Unit, Founder of “GENESIS ATHENS CLINIC”, General Secretary of Hellenic Society of Reproductive Medicine, Member of Greek Medical Tourism Council-ELITOUR

Reproductive medicine and science has taken us to a new global level of participation I 48 I

Assisted Reproduction Technology: A powerful policy tool in the Medical Tourism market A growing dimension of health care globalisation is medical tourism, whereby consumers elect to travel across borders or to overseas destinations to receive treatment. Such treatments include cosmetic and dental surgery; cardio, orthopaedic and bariatric surgery; organ and tissue transplantation; and, assisted IVF treatment.

Medical tourism may prove to have a multiplier effect in the context of a strategy to generate an increase in Greece’s GDP. A lot of benefits may arise for Greece as growth will emerge from the view of a “different” Greece: a Greece of extroversion, effort, growth and confidence. Assisted Reproduction Technology, and specifically IVF, has for years brought Greece at the heart of medical innovation, thanks to our successes in research and patient care.

As we have already been running the era of globalization and cross-border movement of couples, IVF may be the main service provided in Greece in the context of Medical Tourism. In the US alone, for the year 2014, an estimated 1.2 million Americans travelled abroad for medical care. It is also estimated that 4% of Europeans would receive medical treatment in a country other than their own, as --according to recent data published by the European Society of Human Reproduction and Embryology (ESHRE)-- more than half a million (550,296) IVF cycles from 31 European countries in 991 IVF units, including Greece, were performed in 2010.

In Greece alone there are by estimate

12,000 - 14,000 IVF cycles performed annually with more than 6,000 carried out in Reproductive Medicine Unit, Genesis Athens Clinic. The Reproductive Medicine Unit was founded in 1995 with the vision to provide the highest quality of personalized care to IVF couples by offering state-ofthe-art medical technology; through the years, the Unit has evolved into the largest private IVF clinic in Greece and one of the busiest in Europe, having now infertile couples coming in from over 65 countries worldwide.

Factors that have contributed to this growth aside from the expertise include the cost effectiveness of medical procedures.

Currently, the expansion of medical tourism in Greece is being fueled by the growth of the private medical sector, a consequence of the neglect of public health by the government. A growing driver of medical tourism is the attraction of facilities that offer access to assisted reproductive care technologies. Couples crossing the borders demand a high quality of services, high success rates, and take into account the accessibility of fertility treatment, the facilities of IVF and the cost of treatment, though this seems to have the least impact on a couple’s decision to opt for an IVF unit abroad. Proven expertise in Assisted Reproduction, financial reasons as the cost of IVF is lower, progressive legislation and Greece being a favorite holiday destination, could be the criteria of our country being an obvious choice for IVF abroad.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Ioulia Chaida Vice president, Iktinos Hellas

The development of Iktinos Hellas S.A. Greece is a country historically linked to its marbles having one of the greatest varieties of marbles and boasting for its indigenous pure white high-quality marble that makes it unique worldwide.

Greece in 2017 held the third place globally regarding the export of raw marble. The contribution of the marble industry to the country’s total exports has been steadily rising over the last decade, with marble exports in 2017 accounting for 2.07% of total country exports, surpassing 2% for the first time.

One of the leading companies in the marble industry is IKTINOS HELLAS S.A., which in its 45 years of existence has an export orientation that has led it to hold a share of 20% in the overall exports of Greek marble, in both quantity and value terms. IKTINOS HELLAS exports 95% of its production to over 90 countries worldwide.

China is the company’s main export destination, absorbing some 50% of total of exports in 2018. Although China will remain one of our most important export destinations, we seek to further expand to other markets in Asia and Arab countries.

The year 2018 was characterized by a 12% increase in turnover, fortifying company’s upward course both in sales and profit.

The company’s established policy is to invest in state-of-the-art equipment, in research and development and mainly in the acquisition of new deposits. The latter is considered to be one of the most important factors that will contribute to

The year 2018 was characterized by a turnover increase of 12% I 50 I

the firm’s wider development and better penetration into new markets.

Following our investment program in 2018, we invested in our new plant in Drama in machinery, infrastructure and buildings.

Additionally, we are proud for the acquisition of PYRGON, a new white marble quarry in Drama. This marble is of high demand globally. Furthermore, we invested in other mechanical equipment both in quarries and in the factories of Athens.

During Greece’s financial crisis, our company has been one of the very few Greek companies that neither reduced wages nor fired employees. On the contrary, IKTINOS has made salary increases recognizing the efforts and commitment of its staff.

Our company has an intense expression of corporate social responsibility and emphasizes on creating relationships of trust, harmony and mutual respect with the local communities, such as Drama, Kavala and Thassos where it operates.

Our company helps local communities hit by high unemployment through the creation of new jobs and opportunities, collaborations with external local contractors, local community purchases, etc. It also finances organizations and associations to implement their programs.

We strongly believe that mainly with the help of our workforce, IKTINOS HELLAS will continue its growing path against all difficulties.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Apostolos Katsifaras Regional Governor of Western Greece

Region of Western Greece: Investing firmly in the developmental role of extroversion The Region of Western Greece has invested in the developmental role of extroversion combining the critical areas of tourism, the primary sector and agri-food. In a modern and innovative way, we are co-shaping the conditions for the developmental step that our country needs.

Tourism for us is an activity that can contribute to endogenous local development, capturing in a sustainable manner the traces of the intertemporal interaction of any economic activity. In this effort, with our core tools being innovation, collaboration and extroversion, we relied on principles and people using every modern instrument.

A key parameter of our strategic planning that is being implemented with a view to the sustainable development of Western Greece is the link between tourism and production. We marry in a creative way

A smart, digital Region for all of us, combining well-being with the health and the valuable agri-food sector of Greece I 52 I

the agri-food products that are part of our local cuisine and meet the needs of the most demanding palate with unique empirical products from every corner of Western Greece: Cultural heritage, spaces, objects, customs, activities, traditions and an evolving expression of the values ​​of Western Greece and our beliefs. This effort does not start and stop in tourist activity, as it requires an integrated management of resources, capabilities and talent.

Through our planning, we have achieved a timeless investment in the humanity of hospitality, values ​​and culture that this Region exudes, the birthplace of the universal principles of Olympism, combined with investment in extroversion, production, human element. A smart, digital Region for all of us, combining wellbeing with the health and the valuable agri-food sector of Greece.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Constantine N. Yannidis President of the Hellenic Chinese Chamber of Commerce, Industry, Tourism and Shipping, Entrepreneur, President of VITEX - YANNIDIS BROS S.A.

Bilateral relations are continuously growing, year after year, as this is apparent in the trade balance I 54 I

From “Made in China” to “Welcome China” China: Dreamless dream or the land of promise “MADE IN CHINA” The “Made in China” sign became more popular in our daily lives in the 1990s. This was the driver behind 21 Greek and 4 Chinese entrepreneurs who in 1993 decided to establish a Hellenic - Chinese association with the prospect of further developing it into a Bilateral Chamber. This was eventually achieved in 1995, and since then the Hellenic - Chinese Chamber of Commerce, Industry, Tourism and Shipping has been working firmly on its objectives of promoting Greek extroversion, resolving difficulties and assisting bilateral trade. The projected business needs have evolved in recent years as “Made in China” has been transforming from an “inexpensive but honest” solution into a necessity for Greek extroversion.

ONE BELT ONE ROAD The “One belt One Road” concept is becoming more and more understandable to the general public, with more businesspeople wanting to be part of this concept year after year. From a vision of the Chinese government, to action from every party involved in it, the “Silk road” is growing and consolidating in its path, becoming the “One belt One Road”.

The opportunities that are presented are great for both the affected national economies in general, and participating local businesses in particular.

However, the cost to small- and medium-sized enterprises is often disproportionate to the potential of such business, as the corporate minimum size for participating in related projects or cooperations is substantial, while it also requires patience, significant capital and flexibility in decision making.

GOLDEN VISA Greece’s 2013 fiscal stability program is paying off in a slow but increasing rate for both the Greek real estate market and the participating buyers. Chinese buyers are the largest of the foreign buyer groups that prefer our country, as Piraeus Port is regarded as the “entrance” to the Western world. The Chinese are known to have special admiration for Greek culture and history (as Greeks do for Chinese culture and history), and want to become familiar with Greeks and the Western world. This has resulted in a boost in incoming tourism from China, not only in numbers but also in the extension of Greece’s tourism season, caused both by the varying popular holiday periods in China, many of which are not during the Greek high season (June – September), and by the increasing popularity amongst middle- and upperclass Chinese to stage their wedding ceremonies, in groups or independently, in popular and worldknown Greek locations, such as Santorini and Crete islands and other places around Greece. A direct Beijing - Athens flight is the most important route for incoming tourism. Hopefully, the launch of a second direct flight from Shanghai to Athens will further accelerate this tourism inflow.

Procedures tend to be simplified from a time perspective, but there should be mechanisms to ensure this process for both sides equally, so as to boost state revenue, reduce economic loss and stabilize the demand-supply ratio.

HELLENIC EXTROVERSION Greece - China bilateral relations are continuously growing, year after year, as this is apparent in the trade balance, with potential for further improvement on the Greek side. Many Greek businesses and individuals are interested in entering trade partnerships with Chinese firms, and are working on this direction. The Hellenic Chinese Chamber of Commerce, Industry, Tourism and Shipping, assists its members to identify the appropriate partners, and welcomes Chinese delegations of government representatives and entrepreneurs from various sectors whishing to cooperate with Greek businesses. The Chinese delegations present the region they come from, their business and products, and evaluate the potential for possible partnerships. The Chamber, owing to its institutional role, holds high regard amongst Chinese institutional partners and its members respectively. It has been a firm strategic partner for bilateral relations between Greece and China for over 24 years. The main concerns of Greek members are: the vast number of Chinese companies on the web, communication difficulties, the high cost of establishing cooperation, product insurance during transportation, inability of frequent field visits due to the long distance between the two countries, and the fear of potential failure in the forthcoming cooperation.

Unfortunately, there are many cases in which some entrepreneurs prefer to make a market visit without support from the Chamber, thus encountering so many obstacles and new procedures that may be either complicated or very different from what they know, resulting to loss of capital - a case that requires advisory support from the Chamber. The Hellenic - Chinese Chamber of Commerce, Industry, Tourism and Shipping can also settle any issues that arise in bilateral relations. Institutionally, it is the body that can communicate with state agencies and guarantee the right process of cooperation between the two sides. It does not charge commissions for the facilitation in the processes/problems that arise (as it has been encountered by various Greek - Chinese “Cooperation - like Associations”, in recent years); its only revenues are generated from subscriptions of existing members and registration fees of new members. The Chamber has achieved close ties through long-term collaboration with the Chinese embassy in Athens and the relevant Greek authorities, while it organizes workshops to inform interested parties and is actively present in Chinese Greek trade developments.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Michael Maillis President of the GermanHellenic Chamber of Industry and Commerce

Export activities as a driving force for development The establishment of conditions of strong extroversion for the economy and production is a key prerequisite in order for Greece to return to normalcy. Having learned our ‘lesson’ from our most recent, painful adventure, we, as active economic operators, are obligated to ensure that we will henceforth produce more than we consume and, more importantly, we will offer high-demand products to international markets, transforming Greece into a dynamically growing export hub.

This is why the German-Hellenic Chamber of Industry and Commerce has been consistently stressing for years that only extrovert action, as well as the creation of a positive framework for attracting investments, and support of entrepreneurship can serve as a sustainable solution to the Greek problem.

In this context, critical issues at the public policy level must be addressed; these

Greek imports from Germany

I 56 I

Greek exports to Germany

Total GermanGreek Trade

Jan. – Dec. 2018 in EUR

5.799.753.134

2.151.514.480

7.951.267.614

Jan. – Dec. 2017 in EUR

5.268.118.911

2.055.900.358

7.324.019.269

10,1

4,7

8,6

Change in %

German-Hellenic Chamber implemented around 900 business meetings in the sectors of tourism, energy, the environment, technology and rural economy

concern reduced lines of financing, overtaxation, exorbitant cost of lending, a low-performance judicial system and the shambles of bureaucracy. These problems place entrepreneurship in a stranglehold, impede foreign investments and frustrate the efforts of healthy enterprises to grow through exports.

Given the above, the recovery of Greek exports in 2018, topping 33 billion euros, is unquestionably a positive development — however, it must not give rise to complacency, as numerous structural weaknesses remain in effect, hindering growth actions. This is reflected in the country’s trade deficit, which remains high, while the exports-to-GDP ratio falls significantly short of the corresponding average figures of other EU member states.

Another key issue that productive agencies must review and resolve and which concerns each company’s export

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

policy is the branding of exportable products. This is because it is impossible to boost exports and the ‘Greece’ brand without limiting no-name products marketed abroad. The absence of a product identity and a brand does not create conditions of recognisability, especially in a country such as Greece, where tourism is the first ‘portal’ for the introduction of domestic products to millions of foreign visitors every year.

In this context, the German-Hellenic Chamber of Industry and Commerce is making a great effort to support highquality Greek products by helping them navigate their way towards the largest economy in the Eurozone. It is noted that there was a 18% increase in Greek exports to Germany between 2014 and 2018.

However, Greek companies can benefit even further from improved access to the German market or third markets where Germany is dynamically present through the Global Network of Bilateral German Chambers — with 140 offices in 92 countries — in which the German-Hellenic Chamber belongs.

In just the last three years, the GermanHellenic Chamber implemented around 900 business meetings in the sectors of tourism, energy, the environment,

technology and rural economy. More specifically, last year, the Chamber organised over 80 events and actions which were attended by 6,068 interested parties, 5 business missions to and from Germany, and 4 Greek business missions to major cities in Asia and South America, aiming at promoting Greek products and services to large consumer populations in remote markets. The Chamber also undertakes initiatives to support Greek enterprises at major International Exhibitions held in Germany, as well as exhibitions in other national markets organised by German Exhibition Organisations, the Chamber being the official representative of most of these in Greece and Cyprus. Last year 488 exhibitors and 9,975 visitors from Greece and Cyprus attended German exhibitions, and many of these companies broke new ground for their products and services.

It is clear that only a targeted extroversion strategy will change the course of the economy and lay a firm foundation for its recovery. This is why the Chamber will continue supporting dynamic extrovert Greek enterprises in 2019 with the same passion, as they are our ambassadors to foreign markets and the main driving force to enhancing Greek productivity.

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

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Dr. Dimitris Bakolas President of the Hellenic-Russian Chamber of Commerce

in 2017 Greece ranked 9th among the biggest exporters to Russia among EU countries Greek-Russian Relations: Overcoming Sanctions?

I 58 I

Russian Economy: Current status A recent survey by the Economic and Commercial Department of the Greek Embassy in Moscow presents the economic situation in Russia as finding its way forward under the conditions of sanctions, as well as of considerable lower oil prices: a 1,5% GDP growth of 2017 is being followed by approximately the same growth in 2018, inflation remains at a low level (Russia ranked 10th in the world by yearly inflation rate), while as it is shown by the Work Bank’s review, the business environment in the country is permanently improving so that Russia ranked 35th by the Doing Business index (from 124th in 2011).

However, problems still remain, relating mainly to the conditions in the legal business environment, as well as the considerably high corruption level and the inefficient public administration.

Greek - Russian economic relations: Greek exports to Russia Despite the Russian counter-sanctions that practically eliminated the export of Greek fresh fruits and vegetables to Russia, a number of food products, not covered by the sanctions, such as fruit juices, confectionery, particularly chocolate products, sweeteners, spices, flours and a few others, have shown impressive increase in sales to Russia.

Considering other items of Greek export to Russia it should be noted that further to the traditional categories of Greek products familiar with the Russian market (such as furs, confectioneries and footwear, export of which to Russia continues although with decreasing dynamics), new products and services are entering the Russian market competing with the world leaders in their fields; these are IT solutions and services, electronic equipment, lifts and batteries.

It is important to note that Greek imports to Russia, compared to imports from other EU member states, are quite essential: in 2017 Greece ranked 9th among the biggest exporters to Russia among EU countries, and this is remarkable taking into consideration the size of the Greek economy.

It is also remarkable to note that even though Greek exports to Russia account for a mere 0.3% of the EU total, export of Greek services

to Russia account for 1.5% of the EU total. This shows that Greek IT and services companies play a leading role in Greek-Russian economic relations.

Greek - Russian economic relations: Russians investing in Greece The unfavorable climate in EU-Russia relations did not contribute in attracting Russian investments to Greece, in particular investments by state-controlled companies.

An interest shown initially by the Russian railways to participate into tenders by the Greek Railways, as well as interest by Russians regarding the privatization of Greece’s Alexandroupolis port did not met any positive attention and were eventually freezed.

On the contrary, in the past couple of years, a number of major investments by Russian private businesses have been approved and granted state aid that is foreseen in Greek investment promotion legislation. These include a 200-million-euro investment by the Ribolovlev Group in Skorpios Island, and a 408-million-euro investment by the MIRUM Group in Crete, with the development of the holiday resort “Elounda Hills”. In addition, the acquisition by the Russian company COMSTAR (of SISTEMA financial group), of a 51% stake in “Hellas on Line” can be seen as yet another Russian major investment. Notably, SISTEMA a few years ago acquired “INTRACOM TELECOM” and can be now considered as one of the main players in Greece’s telecommunications market.

Greek - Russian economic relations: Prospects The ability to overcome the unfavorable climate and bilateral sanctions shown by both the Greek and Russian businesses is fueling with optimism the bilateral economic relations prospects, with such optimism reinforced by the firm growth of bilateral trade during the last 3 years.

As Mr. Athanasios Karapetsas, Head of Economic and Commercial Department of the Greek Embassy in Moscow, has indicated, the results already achieved in a number of economic sectors do show the way for the future: services, foodstuffs, tourism, building and constructions are the areas in which further growth in the bilateral economic relations is expected.

n Bilateral export trade 2017/2018 in $ 2017 Russian imports form Greece

2018

2018/2017

239,739,657

276,387,185

15.29%

Russian exports to Greece

3,411,480,669

4,062,689,117

19.09%

Balance

3,171,741,012

3,786,301,932

19.38%

Trade volume

3,651,220,326

4,339,076,302

18.84%

Total Russian imports globally

227,502,570,873

238,151,374,819

4.68%

Total Russian exports globally

357,816,570,889

449,347,156,824

25.58%

% of Greek imports

0.11%

0.12%

% of exports to Greece

0.95%

0.90%

Source: Russian Statistics Service

n Greece – Russia export trade in €, 2013, 2016-2018 2013

2016

2017

Greek exports 404,578,638 € 215,179,172 € 234,009,324 € Greek imports 6,621,573,682 € 2,821,886,310 € 3,425,354,580 € Trade volume 7,026,152,320 € 3,037,065,482 € 3,659,363,904 € Trabe balance -6,216,995,044 € -2,606,707,138 € -3,191,345,256 €

2017 2018 /2016 8.8% 231,235,109 € 21.4% 4,145,123,835 € 20.5% 4,376,358,944 € 22.4% -3,913,888,726 €

2018 /2017 -1.2 21 19.6 22.6

2018 /2013 -42.8% -37.4% -37.7% -37%

Source: Hellenic Statistical Authority (ELSTAT)

n Reserves of Russian direct foreign investments in Greece, as at 31.06.2018 2013 Russian reserves in Greece in million $ Total Russian reserves in million $ % of Greek investment reserves

$569 $385,321 0.15%

2014 $659

2015

2016

2017

31/6/2017

$629

$683

$733

$664

$329,818 $282,651

$334,275

$382,278

$374,551

0.20%

0.19%

0.18%

0.20%

0.22%

Source: Bank of Russia

n Reserves of Greek direct foreign investments in Russia, as at 31.06.2018 2013 2014 2015 2016 2017 31/6/2017 Greek reserves in million $ $12 $89 $84 $170 $50 $45 Total world reserves in million $ $565,654 371,491 $347,690 $477,670 $535,200 $437,713 % of Greek investment reserves 0.002 0.024 0.024 0.036 0.009 0.01 Source: Bank of Russia

Profile of HellenicRussian Chamber of Commerce (HRCC) 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 59 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

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 750 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 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 2018 amounted to 2.95 billion euros, with 1.5 billion euros accounting for exports of Greek products to Turkey and 1.495 billion euros for imports of Turkish products to Greece.

Greek exports to Turkey include plastics, 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 82 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 visited Greece in 2018 and 1.0 million

The total trade between the two countries in 2018 amounted to 2.95 billion euros I 60 I

Greek tourists visited Turkey.

The Greek-Turkish Chamber of Commerce estimates that by 2020 the total trade between the two countries will reach 8 billion euros. Within the frameworks 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 businesspeople financially as follows: ■ It covers the expense 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 4 to 6 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 that 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.

THE GREEK-TURKISH CHAMBER OF COMMERCE AND ITS SERVICES

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 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

■ MAIN PRODUCTS IMPORTED FROM TURKEY IN 2018

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)

■ In 2018, Turkey was the destination country for the following Greek products

VEHICLES - BUSES

OIL PRODUCTS 50% (MINERAL OILS - FUEL)

BOILERS - MACHINES - EQUIPMENT

VEGETABLES

IRON - COPPER

PLASTICS (PLASTIC RAW MATERIAL ARTIFACTS)

TEXTILE PRODUCTS ELECTRICAL MACHINERY - EQUIPMENT GEMSTONES - JEWELRY PLASTIC PRODUCTS LIVE ANIMALS OIL PRODUCTS

COTTON ALUMINIUM - ARTIFACTS BOILERS - MACHINERY - EQUIPMENT COPPER - IRON NUTS AND EDIBLE FRUIT ALCOHOLIC DRINKS (WINE, OUZO, BEER) PHARMACEUTICAL PRODUCTS FERTILIZERS, etc.

I 61 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Alkiviadis Kalampokis President of the Exporters Association of Crete

Crete has a huge advantage, due to its geographical position, soil morphology, climatic conditions, the quality of products and the people I 62 I

Cretan olive oil exports Crete remains one of the most dynamic export regions in Greece, with a course that has seasonal fluctuations, but has remained steadily increasing during the last few years. Cretan exporters, in a very difficult business environment, with financial suffocation and accumulated problems from the past, have shown that they can make significant export steps, placing Crete and its products in markets targets and boosting the local economy.

Olive oil comprises 34% of the total value of exports from Crete. About half of the exported Cretan olive oil was sold in bulk to Italy and Spain last year, while the rest was sold bottled. This is a vast improvement over ten years ago, when 95% of Cretan olive oil was sold in bulk.

This important step is a result of the collective efforts of the export companies, the Exporters’ Association, Region of Crete and the Chambers of Commerce. Further increase in this proportion will bring more added value to Crete, rather than being lost through bulk sales, considering that about 80% of Cretan olive oil is extra virgin, the highest quality, far more than anywhere else in the world.

The Greek economic crisis urged most of the companies to work hard, to see what improvements are needed and promptly make the appropriate changes. Both established Cretan companies and small

ones have made a lot of progress, not only in quality, but also in certifying their olive oil and offering a variety of high-quality products in stylish packaging. Also, many extra virgin olive oils from Crete have been winning major awards at international competitions, attracting the attention of major international stores and chains.

Olive oil exports are key to the economy of Crete and there is hope in Cretan exporters’ achievements, but, in order to achieve further growth, measures and actions from the Government to facilitate exports are required. A long-standing demand by the Exporters’ Association of Crete is the creation of a national strategic plan for this valuable product, as actions without long-term prospects and planning do not help achieve significant progress in our exports.

The Exporters’ Association of Crete has submitted to the Region of Crete a full plan with actions needed to boost bottled olive oil, and remains at the disposal of all exporters for any support and assistance they may need.

Crete has a huge advantage, due to its geographical position, soil morphology, climatic conditions, the quality of products and the people. We must all outdo ourselves to have a better productive future that will help the island’s economic and social development.

n Main sectors

3%

3% 12%

3%

3%

Other Industry products Machinery & Devices Other TextileIndustry products

25%12%

57%

Machinery Chemicals&&Devices Plastic products Textile Food & Drinks

25%

57%

Chemicals & Plastic products

Petroleum products are not included Food & Drinks

1% 1% oil: Main markets n Olive 10% 2% 1% 3% 3% 1% 3% 10% 2% 3% 6% 3% 3% 10% 6% 21%

40%

40%

Other

USA

Canada

Spain

Cyprus Other

Germany USA

UK Canada

Italy Spain

Belgium Cyprus

Germany

France UK

Italy

Austria Belgium France

10% 21%

Austria

I 63 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

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

Business cooperation between Bulgaria and Greece Bulgaria, a member of the European Community, has managed to overcome the economic crisis from the beginning of the year 2011, and is constantly developing ever since.

Bulgaria‘s population has reached 7.6 million people, following a declining line. Taxation on business profits reaches 10%, while the minimum wage is 300 euros, and the annual inflation is 2%. 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 3.1 billion euros in 2018, which is a positive number for Greece’s trade balance. The business sector with the largest share is servicestrade, followed by manufacturing and small industry. The Greek-Bulgarian Chamber of Commerce organizes departmental day conferences annually, together with one General Congress in Athens or Sophia.

Thus, an opportunity is given to people

Total trade has reached 3.1 billion euros in 2018, which is a positive figure for Greece’s trade balance I 64 I

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 GreekBulgarian 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 it 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 non-members.

There are 2000 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.

■ STRUCTURE of GREEK EXPORTS 2017 1. Industrial items

480 million euros

2. Foods, live animals

240 million euros

3. Minerals, fuels, lubricants

220 million euros

4. Chemical products-fertilizers

169 million euros

5. Removal machinery and materials

135 million euros

6. Drinks and tobacco

85 million euros

■ STRUCTURE of GREEK IMPORTS 1. Industrial items

540 million euros

2. Foods, live animals

360 million euros

3. Chemical products

110 million euros

4. Drinks and tobacco

40 million euros

THE GREEKBULGARIAN CHAMBER OF COMMERCE AND ITS SERVICES

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 these areas. EBEBE 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 EBEBE 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 EBEBE 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.

I 65 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Athanasios Kefalas President of Greek Mining Enterprises Association

Greek mining industry has always had an important contribution to the Greek Gross Domestic Product I 66 I

Greek Mining Industry: Key driver for Greek Economy growth The Greek Mining Enterprises Association (GMEA) consists of more than 25 major Greek enterprises that extract, explore and exploit the mineral resources of the country.

GMEA was established with the objective to systematically support entrepreneurship in the industry and pursue effective cooperation with Public Administration – in Greece and beyond - for the sustainable and safe-at-work exploitation of the mineral resources in Greece.

Greece ranks among EU countries: No. 1 in nickel production No. 1 in bentonite production No. 1 in bauxite production No. 1 in perlite production No. 3 in magnesite production No. 4 in lignite production No. 5 in aluminium production Minerals constitute a source of competitive advantage for the national economy and a driver of regional development. Throughout a history spanning more than 90 years, the members of the Association have acquired high-quality expertise, applied highly sophisticated environmental mining and rehabilitation techniques, innovated in developing new products, and consistently looked abroad for growth.

As a whole, the Greek mining industry has always had an important contribution to the Greek Gross Domestic Product, a relatively higher share in the country’s exports and a significant positive contribution to employment especially in rural areas. Beyond that, mining also provides minerals that are key prerequisites for other significant

domestic economic activities, such as electricity generation, domestic metallurgies, cement production and constructions.

In the future, the Greek mining industry has the potential to be an important driver of growth and competitiveness for the national economy thanks to world-class reserves of mineral raw materials and the important geographical advantage in the global supply chain while capitalizing on the highly qualified human capital and already developed infrastructure and facilities.

Growth driver Total turnover of the extractive industry amounted to €1.8 billion in 2016, on an increasing trend for most minerals versus the past (with the exception of cement sales, which are mostly tied with the performance of the domestic construction market, lignite production and nickel / aluminium turnover due to the slowdown in global prices).

Total contribution of the extractive industry to GDP is estimated at €5.4 billion (3% of GDP).

Top performance in terms of contribution to total industry turnover: 2.9% in Greece versus EU average of 1.3%.

Extroversion & Competitiveness Greek extractive industry is extremely extroverted: the value of exports reached €1.1 billion in 2015, reaching 79% of the industry’s total turnover. This orientation is particularly strong primarily in products such as: marbles, industrial minerals, metals and secondarily in cement.

n Export share based on value per destination country in 2016 Other countries Other countries Other UK countries UK 33% 33% 33%

Investment Magnet In 2016, investments made by GMEA members were valued at more than €350 million.

In a globalized economy the Greek Extractive Industry and Metallurgy is operating in an increasing competitive global environment.

In order to remain a key contributor to the Greek economy and support its growth, the Greek Administration and GMEA must work alongside ensuring the full implementation of the National Minerals Policy (NPEMRM) and the establishment of a comprehensive Spatial Land Use Planning for the Minerals and the related activities, as well as providing stable economic and political environment, effective permitting procedures, fast and coherent legal decisions.

Bulgaria Poland Poland Poland Turkey

10% 10% 10%

Turkey

Turkey France France France China

10% 10% 10%

Exports are directed both within the EU (Italy, Germany, and France among the top five destination countries) and outside the EU (China, USA also ranking among the top five destinations) Responsible Employer The mining industry has been a resilient and responsible employer. The direct employment in extractive industry approached 22k full time equivalents in 2016 and the total exceeded 105k FTE’s accounting for approximately 3% of national employment.

At the same time, the mining industry has invested heavily in human capital with more than 17 hours of training per FTE

UK Netherlands Netherlands Netherlands Bulgaria Bulgaria

16% 16% 16%

China

3% 3% 3% 3% 3% 7% 7% 3%4% 4% 4% 7% 6% 4% 4% 4% 6% 4% 4% 4% 6%

China USA USA USA Germany

Germany

Germany Italy Italy Italy

Source: Eurostat, International Trade

n Mining industry’s share in the overall goods exports (%) %

% 12% 1212

8,8 8,8 8,8

9,1 9,1 9,1

02010

2011

2012

2010

2011

10

10108,2

8,2 8,2

8

9,5 9,5 9,5

10,3 10,3 10,3

10,5 10,1 10,5 10,5 10,1 10,1

2014

2015

11,0 11,0 11,0

88 6

66 4

44 2

20

2

2013

0 Goods exports data by ELSTAT exclude petroleum products and ships.

Note: 2010 2011 2012 2013 2014 2015 Source: ELSTAT

2012

2013

2014

2015

2016 2016

2016

2017 2017

2017

n Value of mining industry exports

1.200

1.200

1.200 1.000

1.000 800 1.000

800 600 800

600 400 600 400 200

400

200 0

200

0

2010

2010

2011

2011

2012

2012

2013

2013

2014

2014

0■ Metals ■ Metallic minerals ■ Cement ■ Industrial minerals

2010

Source: SME, Eurostat

2011

2012

2013

2014

2015

2015 ■ Marbles

2015

2016

2016

2016

I 67 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Vassilis Gounaris President of the Hellenic Association of Chemical Industries

Contributing to the country’s trade balance by exporting valueadded products I 68 I

Greek chemical industries: an employer of 13,000 highly skilled workers The Hellenic Association of Chemical Industries (HACI) was founded in 1994 at the initiative of Greece’s largest chemical companies. It expresses the collective vision of its member companies of the chemical industry operating in Greece.

Besides consumer products and professional users, the chemical industry supports almost all industry sectors and provides innovative solutions: On issues that concern society, such as climate change, health, environment, energy saving, circular economy, plastics recycling, etc.

Contributing to employment with quality and well-paid jobs.

Contributing to the country’s trade balance by exporting value-added products.

Placing safe products out in the market and complying with the REACH/CLP and all European legislation requirements for chemicals.

Since 1994, HACI has successfully adopted and implemented the RESPONSIBLE CARE initiative for occupational health and safety, environmental and consumer protection during the use of chemical products.

Together with the European chemical industry and in cooperation with the European and national authorities, HACI seeks to: Give industrial production the place it deserves - the European Commission has set the objective that industrial production should be at least 20% of the GDP of the EU. Support “Smart regulation - smart legislation”. With European and national legislation designed to serve the goals of sustainable development without bureaucracy and bracing.

Encourage the introduction of new technologies (nano, decarbonisation,

biosciences, digitization, molecular circularity, etc.)

Support an energy policy that balances the climate target and industry’s competitiveness on the road to the zerocarbon era. There is a need for a single policy geared to competitiveness and innovation.

Reinforce REACH/CLP in their evolution to be the main legislation on product safety.

Create first-class logistics for the safe and competitive handling of chemicals.

Foster the development of knowledge and skills of people with education and orientation in the digital economy (Industry 4, blockchain, etc.) in order to create highquality and well-paid jobs.

Hellenic chemical industry facts & figures Total annual turnover of the approximately 1,000 small- and medium-sized chemical enterprises amounts to 2.2 billion euros.

Trade in chemicals amounted to 4.3 billion euro. The sector employs 13,000 highlyskilled workers. Every one job in the chemical industry, accounts for 6.3 jobs in the economy. Ranked as a sector with high export performance, the industry’s annual exports come to 1.3 billion euros. Notably, for every 1 euro invested in the chemical industry, Greek GDP is increased by 1.9 Euros. HACI is a member of CEFIC (European Chemical Industry Council), ECEG (European Chemical Employers Group) and SEV, the Hellenic Federation of Enterprises.

2018 figures Even though the Chemical Industry recorded a drop in sales in Q4 2018, the sector enjoyed a 4% annual increase compare to 2017. Exports in 2018 rose by approximately 13% compared to 2017.

I 69 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Dimitrios Syrmos President of the Association of Hellenic Plastic Industries

An export strategy is an essential component of Greece’s competitiveness agenda in the depression era that we have experienced in the last 10 years I 70 I

The Plastics Industry contributes significantly to Greece’s Export Sector The Greek Plastics Industries, with the Association of Hellenic Plastics Industries (AHPI), which orchestrates the efforts of its members, is committed to contributing and achieving a circular and resource efficient economy. Exports is one of the main tools to stimulate economic growth and job creation in Greece. The members of the Greek Plastics Industries have proven constantly that they are creative, resourceful and efficient despite the fact that they don’t have the support of key policies and regulations in order to achieve the optimum performance in the export sector. Nevertheless, visionary entrepreneurs and bold inventors, working unstoppably for the growth of the Plastics Industry are now the pillars of the export sector, which expects a record year in 2019.

The unique characteristics of plastics allow us to make a significant contribution to the export sector of Greece. Lightweight, versatile and durable plastics contribute to energy and resource savings in strategic sectors like retail, construction, healthcare, automotive and renewable energy. Greece needs to make exports a top priority and the Government needs to remove all the trade barriers, helping companies to overcome hurdles in entering new markets.

The biggest problem that our companies are trying -almost impossibly- to deal with is that Greece’s banking system is almost broke today. Companies desperately need liquidity in order to invest in their new projects. On the bright side of an abysmal situation, we can note that during the meltdown of the Greek economy, the Plastics Industry experienced a significant export growth. Let’s examine some facts and figures in general regarding the European and the Greek Plastics Industries.

In 2018, the Plastics industry in Europe accounted for: ● Close to 60,000 companies ● Over 1.5 million direct employment ● €17 billion annual contribution to public finances

● The European Plastics Industry ranks 7th in Europe in industrial value-added contribution - at the same level as the Pharmaceutical Industry and very close to the Chemical Industry (Measured by gross value added at factor prices, 2013) ● The European Plastics Industry has a multiplier effect of 2.4 in GDP and almost 3 in jobs (The European House Ambrosetti Study, data for Italy 2013) Currently in Greece, the Plastics Industry accounted for: ● Close to 640 companies ● 32,660 indirect jobs and 19,700 direct employment ● The Greek Plastics Industry had an annual turnover of €2,81 billion An export strategy is an essential component of Greece’s competitiveness agenda in the depression era that we have experienced in the last 10 years, and also a critical element of job growth in the immediate term. There are a lot of challenges to confront, and Greece should develop better information about goods and services exports.

With this opportunity, AHPI would like to underline that all of us must approach plastics as a resource, not as a waste. This is the core belief of the Circular Economy and AHPI is one of the pioneers in the efficient adaptation of that economic model in Greece. A change in mentality where waste is recognized and treated as a resource needs to take place. We all need to change perceptions and of course behavior. All materials used in a product have an impact on the environment. Various studies have shown that the environmental impact of using plastics in consumer goods and packaging is nearly four times less than using alternative materials. Plastics save far more energy and resources over a product life cycle than are required to produce them — that’s why they are perfect materials to shape our common future.

I 71 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Georgios Doukidis President of Aluminium Association of Greece

Aluminium industry exports triple in 2009 - 2018 The aluminum industry began its development in Greece in the mid-1960s, with the establishment and operation of an industrial unit that allowed the exploitation of domestic bauxite deposits. Greece is currently ranked 12th in the world and first in the European Union for its considerable bauxite reserves, located primarily in the mainland.

The sector is characterized by its vertical integration and the high added-value of products in each of the 5-6 consecutive industrial processes of the value-chain.

From mineral bauxite to alumina - the basic intermediate of aluminum metallurgy – to raw aluminum and then to the first processing-rolling, extrusion, cables and foundries – and finally to the second processing for production of high-value enduser products (i.e. internationally certified aluminium doors and windows).

The aluminium sector is made up of 3,000 large and small companies and 21 industrial sites of considerable size. It offers direct employment to more than 16,000 people and contributes 2.3% to the national GDP. In addition, the sector has a strong international presence with production units, distribution networks and organized commercial operations in more than 50 countries.

In spite of the unfavorable business environment, aluminium remains one of the most dynamic sectors of the national economy, being highly competitive and export-oriented. With an annual turnover that exceeds €3.2 billion, with up to 75% of its total sales coming from exports. Exports to EU account for 78% of total exports.

In 2018, according to latest ELSTAT figures, exports of the Greek aluminum industry accounted for about 5.7% of the country’s

n ALUMINUM SECTOR *: EXPORT VALUE DEVELOPMENT 2007 -2018 (EUR)

Despite the Greek economic crisis, the Aluminium industry’s exports were tripled during the period 2009 to 2018 I 72 I

*excluding bauxite and alumina

overall exports. Thus, the sector, including bauxite and alumina, which is well-known and competitive on international markets, is ranked in Greece as: ● T he second largest export sector, with an approximate export value of €1.9 bn, an increase of more than 10% compared to 2017; ● T he second best-performing trade balance, approximately €773 mn, an increase of approximately 3% compared to 2017.

Despite the Greek economic crisis, the Aluminium industry’s exports were tripled during the period 2009 to 2018, with a steady increase every year as shown in the table below.

Aluminium has a wide range of applications for daily use. Its resistance against corrosion, simple processing, low maintenance cost, and light weight compared to other metals,

Profile

make it a particularly useful material. Its recyclable nature, leading to energy savings and reduced emissions, is an additional factor that has played an important role in making aluminium a widely popular sustainable material.

Especially, in the framework of the European Commission’s new Circular Economy Package, the aluminium industry is engaged to enhance recycling across its value chain, from production to the end of product’s life. With high end-of-life-recycling rates, aluminium is a key contributor to a Circular Economy, as aluminium recycling uses only 5% of the energy consumed for primary production.

Regarding the future, there is growing demand in international markets for aluminum products in sectors such as automotive, transportation, building (large residential projects) and packaging. Global

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

Specifically, AAG members cover the sectors of alumina production, primary and secondary aluminium production, rolling industry, extrusion industry, cables, castings, anodization and electrostatic painting and end-

aluminum demand is projected to double by 2050. In the domestic market, a further increase in demand is expected in the construction sector owing to large tourist/ residential projects and the National Energy Planning program for building renovation to improve energy consumption.

The Aluminium Association of Greece strongly supports the efforts of its member companies towards extroversion and global expansion, as well as the very small companies (e.g. aluminium fabricators) that focus exclusively on the local market.

Within a business-friendly environment, (e.g. sufficient liquidity, stable tax environment, low energy costs, etc.), all the stakeholders of the industry stare at the future with optimism, while responding to new challenges and planning for investments in new or upgraded production lines and innovations.

uses (beverage cans, doors/ windows, packaging products).

AAG’s objective is to promote and explore the use of aluminium products in the domestic and international markets, and support the position of its members.

The Association’s main activities are in the areas of lobbying, information, certification, promotion, and training.

AAG is a founding member of AAG-NPC, i.e. a General License

for the QUALICOAT, QUALANOD, QUALIDECO and QUALISTEELCOAT quality labels. In addition, AAG-NPC is an accredited Certification Body, according to ISO/IEC 17065 for granting the QUALICOAT and QUALANOD labels.

AAG represents the sector to European and international organizations and is the communication channel of its members to the public organizations.

I 73 I

Exports of fresh fruits and vegetables up 2.1% in 2018

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

George Polychronakis

Exports of fresh fruit and vegetables in 2018 rose by 2.1% in volume compared to 2017, reaching 1,517,538 tons. Value also rose by 2.1% to €1.038 billion, according to the latest ELSTAT figures processed by INCOFRUIT - HELLAS.

n Exports of Fruits & Vegetables - 2018 vs. 2017

Expert Advisor INCOFRUIT – HELLAS

product Value in € 1 2

2018 Volume in tns

VEGETABLES, 154,102,765 FROZEN ETC. FRUITS AND NUTS, 884,088,817 FRESH OR DRIED TOTAL 1,038,191,582

Value in €

2017 % change 2018/2017 Volume in tns Value Volume

206,955

157,435,918

203,500

-2.10%

1.70%

1,310,583

859,198,436

1,282,634

2.90%

2.20%

1,517,538 1,016,634,354

1,486,134

2.10%

2.10%

Source: Analysis INCOFRUIT - HELLAS based on ELSTAT data

In 2018, exports of fruits rose 2.2% in volume and 2.9% in value, and amounted to 1,310,583 tons and €884.1 million, respectively.

Vegetable exports increased 1.7% in volume compared to 2017, totaling 206,955 tons. Value dropped 2.1% to €154.1 million.

Top fruit performers in value were apricots (24.2%), followed by oranges (21.1%), nectarines (18.2%), strawberries (11.7%), mandarins (10.9%) and kiwi (6.5%). The disproportionate increase in lemons was due to a sharp rise in demand following an overall shortage in all producing countries.

Similarly, vegetable top performers were cucumbers and gherkins with 21.7% in terms of volume.

n EXPORTS OF FRESH FRUITS & VEGETABLES - 2018 vs. 2017 Products 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Potatoes Tomatoes Cucumbers&gherkins Peppers Oranges Mandarins (including tangerines) Apples Watermelons Strawberries Kiwi Peaches Nectarines Apricots Cherries Lemons

2018 2017 VALUE IN EURO QTY TONS VALUE IN EURO QTY TONS 10,471,340 27,968 11,808,221 37,755 12,712,313 37,731 12,587,618 36,733 27,526,397 38,943 27,615,582 32,006 25,459,659 19,139 28,477,502 20,079 136,079,078 311,936 112,330,317 268,903 48,189,884 105,161 43,441,693 89,385 30,598,791 71,916 29,011,446 75,395 53,801,648 183,203 45,326,542 171,769 32,558,001 27,030 29,125,135 25,500 123,161,648 134,386 115,642,824 129,507 45,450,116 94,585 46,120,549 115,680 37,673,149 65,108 31,869,931 70,783 18,150,759 23,924 14,613,407 24,678 26,299,546 16,909 27,980,052 15,515 8,120,228 13,387 4,685,937 7,506

Source: Analysis INCOFRUIT - HELLAS based on ELSTAT data

I 74 I

% CHANGE 2018/2017 IN EURO IN TONS -11.30% -25.90% 1.00% 2.70% -0.30% 21.70% -10.60% -4.70% 21.10% 16.00% 10.90% 17.60% 5.50% -4.60% 18.70% 6.70% 11.80% 6.00% 6.50% 3.80% -1.50% -18.20% 18.20% -8.00% 24.20% -3.10% -6.00% 9.00% 73.30% 78.40%

In terms of volume, Greece has a relatively static overall production of fruits and vegetables, with only seasonal variations between the various products (approx. 7.5-8 million tons annually). Nevertheless, exports have increased dramatically over the last 12 years: from 1,027,568 tons valued at €718 million in 2007, to 1,517,538 tons valued at €1.038 billion in 2018. The tendency for 2019 shows a possible further increase (mainly in value).

The domestic fruit and vegetable market in Greece is relatively small. In addition, the purchasing power of Greek consumers has been hit hard by the economic recession which is now in its ninth year. Thus, any trade growth for fresh fruit and vegetables is largely dependent on exports.

Greek exporters have not been deterred by the loss of the Russian market, which was significant for some products. As a counter measure, sales to other EU and third countries have increased. Pressure on prices from other supplier countries in 2018 should be a cause for concern as regards commercial policy and possible further expansion (e.g. to countries in South East Asia by accelerating bilateral phytosanitary protocols agreements).

In 2018, we saw an increase in imports: vegetables fell 4.9% in volume but increased 1.0% in value, while fruits dropped 0.5% in value but recorded an increase of 8.8% in volume, mainly due to tropical fruit (pineapples, bananas, dates), but also apples and pears.

n Imports of F&V - 2018 vs. 2017 2018 2017 % change 2018/2017 Value in € Volume tons Value in € Volume tons Value Volume VEGETABLES, including FROZEN ETC 218,354,665 347,724 216,216,557 331,521 1.00% 4.90% FRUITS AND NUTS FRESH OR DRIED 346,928,478 340,129 345,347,545 312,688 0.50% 8.80% TOTAL 565,283,143 687,853 561,564,102 644,210 0.70% 6.80% product

1 2

Source: Analysis INCOFRUIT - HELLAS based on ELSTAT data

Notably, the commercial surplus in 2018 generated by the fresh and processed fruit and vegetable sector came to €1.247 billion. This fully compensated both the commercial deficit of the meat and processed meat sector, valued at €1.081 billion, as well as the deficit in the dairy and bird egg sectors, valued at €157.1 million. This proves the importance of the fruit and vegetable sector in the overall agricultural commercial balance sheet.

n Foreign trade (in million €): Fruits & Vegetables Imports

Exports 1831

1847,6

639,6

646,5

668,6

731,8

749,5

2012

2013

2014

2015

2016

1773,1 1385,1

1484,7

742,2

653

2009

2010

1971,7

1859,3

1962,6

2071,9

1519,4

791,3

2011

811,9

825,4

2017

2018

Source: ELSTAT & INCOFRUIT Service Hellas, provisional data (data updated February 2019

❱❱❱

I 75 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

❱❱❱ We believe growth will be maintained for fresh fruit and vegetables exports, especially with several positive indications from spring and summer fruit productions (stone fruit, table grapes, etc.).

We believe the current Community regulations on crisis management and trade and in particular EU import regulations will soon be reviewed and improved towards restoring the principle of Community grown product preference so as to restore balance in the EU market.

Review of imports from third countries into the EU-27: We should return to the original ideas and values which promoted preference to EU-grown products. If this is achieved, placing uniform requirements in terms of cultivation and consumption in each Member State then the EU could absorb more of its own production and at higher prices.

nE XPORTS of FRUITS & VEGETABLES 2018 (10 FIRST COUNTRIES of DESTINATION) ΙΝ TONES Other UK Czech republic

14,1%

FYROM

31%

Hungary 12,6%

Serbia Italy

2,9% 3,1% 3,4% 3,5% 4,2% 5,7%

I 76 I

12,3%

Poland Germany

7,3%

Bulgaria Romania

I 77 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Antonis Chachlakis President of Federation of Greek Maricultures (FGM)

We truly believe that 2019 will be a milestone for the marine fish farming sector in Greece I 78 I

2019 – a milestone for aquaculture in Greece In 2018, Greek aquaculture confirmed once again its position in the national economy, remaining at the forefront of the exporting industries of the country’s primary sector, contributing positively to the trade balance, creating jobs and attracting strong investment interest. The Greek farmed sea bass and sea bream accounted for 61% of total European production and 27% of global production for those species.

More specifically, in 2018, production reached almost 117,000 tons valued at signaling the growth in terms of volume for a third consecutive year after a long period of recession. 97% of the farmed species were sea bream and sea bass and 3% were all the other Mediterranean species (Meagre, Sharp-snout seabream, Red porgy, Turbot, Dentex and Red Sea bream). In 2018 the harvest volume increased by 4.5% compared to 2017, while further growth is expected in 2019. In 2018, Greek aquaculture has one of the highest percentages of total employed in the aquaculture in the EU as it employs (directly and indirectly) about 12,000 workers and scientific, technical and managerial personnel.

However, the increased production didn’t coincide with better prices and increased profitability due to the harsh competition from third countries, namely Turkey. The ongoing economic issues in Turkey and the sharp devaluation of the Turkish lira, worsened the financial position of local seabass and seabream producers, who were already negatively affected by global weak market prices.

According to Mr. Antonis Chachlakis, President of FGM, 2018 was very challenging as the industry witnessed very low prices awaking memories of 2013. The production rise of the last 2 years, mainly in Turkey, wasn’t followed by an equal rise in global demand and as a result, prices dropped in

2018, forcing Turkish suppliers to engage in a tough competition to offer the cheapest products in order to outpace each other, which also negatively affected our prices too. However, 2019 is expected to be a millstone for marine aquaculture in Greece for two main reasons. Firstly, the European Commission approved, under conditions, the proposed consolidation of the Greek companies, signaling a new era for the Greek industry. Secondly, the newly recognized Hellenic Aquaculture Producers Organization (HAPO) is ready to meet its objective and start the promotional campaign for the Greek farmed fish. Mr. Antonis Chachlakis said that “We truly believe that 2019 will be a milestone for the marine fish farming sector in Greece and it will reaffirm its export orientation and its contribution to the national economy”.

Main markets and trade of sea bass and sea bream The Aquaculture industry in Greece is highly export-oriented as approximately 81% of the production is exported, while the remaining 19% ​​is sold in the domestic market, the size of which ranges between 21,000-23,000 tons. According to the Hellenic Statistical Authority (ELSTAT), in 2017 Greek sea bream and seabass were exported to 32 countries globally. By far the largest market for Greek products is the EU as more than 90% exports is sold there, while a small percentage is exported to North American and other countries. The primary markets for the Greek fish are Italy, Spain and France as 59% of the Greek production is sold there.

Exports in 2017 increased following the harvest trend, reaching 91,000 tons (81% of total production), of which 57.34% was sea bream and 42.66% sea bass. As regards exports, 95% of exports were sold in EU countries, 4% in North America and 1% in

n Production of sea bream and sea bass in 2010-2018 140.000 140.000 117.000 123.000 140.000 119.000 110.000 117.000 123.000 120.000 119.000 110.000 120.000 117.000 123.000 105.000 110.000105.000 119.000 120.000 113.000 112.000 108.000 113.500 113.000 100.000 105.000 112.000 108.000 113.500 100.000 113.000 112.000 108.000 113.500 100.000 80.000 80.000 80.000 60.000 60.000 60.000 40.000 40.000 40.000 20.000 20.000 20.000 0 0 0 2011 2012 2013 2014 2015 2016 2017 2018E 2010 2018E 2010 2011 2012 2012 2013 2013 2014 2014 2015 2015 2016 2016 2017 2017 2018E 2010 2011 Sea bream Sea bass Total SeaSea bream SeaSea bass Total bream bass Total

n Supply of sea bass and sea bream EU-28 1% 3% 6% 1%1%3%3% 6%6% 2% 2% 2%

19% 19%19%

Cyprus Cyprus Cyprus Portugal Portugal Portugal 61% 61% 61%

Croatia Croatia Croatia France France France Spain Spain Spain Italy Italy

8% 8%8%

Greece Greece n Main markets of sea bass and sea bream 2%2% 2% 2%2% 2% 3%3% 4%4% 3% 4%

2%2% 2%

9%9% 9%

19% 19% 19%

10% 10% 10% 13% 13% 13%

36% 36% 36%

Others Others Other EU Other EU Other EU Netherland Netherland Netherland Germany Germany Germany Portugla Portugla Portugla United Kingdom United Kingdom United Kingdom France France France Spain Spain Spain Italy Italy Italy Greece Greece Greece

MINI PROFILE OF FGM: ● 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.

I 79 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Konstantinos Apostolou President of the Greek Canners Association (EKE)

The Challenge of Climate Change Climate change is the greatest challenge the world is facing nowadays. There is no denying that this statement holds true for businesses and industries around the world as well. The agri-food industry realizes this better than anyone.

The Greek Fruit Processing Industry is one of the most extrovert in the country. Almost all of our production of canned fruits, puree and frozen fruits is exported and reaches dozens of markets around the world, catering to the needs of retailers, HoReCa and related industries. Greece has been for many years the biggest exporter of canned peaches in the world, accounting for 32.26% of global exports in 2017.

Our global reach means that we are sensitive in spotting changes in consumer behavior.

Consumers, especially in Western Europe, demand not only quality products, but also sustainable methods of production and transport. Our factories adhere to these demands by investing in energy saving solutions, such as the use of fruit cores to produce energy, modern wastewater treatment facilities, and urging farmers to use the minimum amount of pesticides needed.

What is not widely understood is that preserved fruits are environmentally friendly, as well. Tin food containers (cans) are 100% recyclable for any use, which is not the case for other more modern or popular food containers. Using preserved fruits is a way towards tackling food waste, another major environmental concern of today. What is more, transportation of preserved fruits is more eco-friendly since there is no need for

Our great challenge is to create greener supply chains I 80 I

temperature controlled environment and delivery lead time is not an issue.

However, climate change affects agri-food sectors in more dramatic and profound ways.

The Greek Fruit Processing Industry sources all the fruits used as raw materials, locally.

Unfortunately, for some years now, we have been observing unusual phenomena like rains during summer and warmer weather in the winter, extreme temperatures and precipitation, and constant and quick changes of weather.

Obviously, this has affected farming very much. Yields of fruits in the orchards are low and unstable, and this affects overall production and costs of final products as well. Moreover, quality of fruits is also affected, causing further rises in costs as factories strive to maintain the high quality of final products.

Climate change and other environmental challenges will be in the heart of every policy discussion in the European Union in coming years. It will be the focus of most Social Responsibility programs of international corporations. It will be in the mind of every environmentally aware consumer. The export capabilities of Greece’s economy will depend on our ability to understand that and assimilate the environment to our strategies.

Our great challenge is to create greener supply chains. This is required in order to remain competitive in global markets. It is a wise choice in order to lower costs. But most importantly, it is necessary if we want to hand down to the next generations the fertile and productive soil that has so far been our competitive advantage.

Greek Canners Association Presentation

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

n Global Exports of Canned Peaches by Country - 2017 1,34%

1,95% 2,81%

1,31%

Argentina USA

10,90%

Bulgaria 32,26%

Italy Chile

13,63%

South Africa Spain

14,89% 20,91%

China Greece

Source: INFORMA

I 81 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

George Skouras President of Greek Wine Federation

In Greece, wine is so tightly linked to “extroversion” as nowhere else in the world This is evidenced by archaeological finds in the depths of the sea in the more remote areas, such as a recent discovery of an ancient Greek kylix (a very common type of wine-drinking cup), off the city of Rennes in northern France. For thousands of years, Greek wine as a commercial product has been characterized by intense extroversion, which is reflected in its current state. In spite of great difficulties faced by Greek winery --by a state mechanism that has only recently started learning to cooperate-Greek wine has a 30-year, very interesting and adventurous success story to narrate.

But now great hope is on the many young people with excellent scientific training and talent, who either take the reins of family businesses or dare to open their own winery.

However, in addition to its commercial extroversion, Greek wine also carries a strong extroversion of spiritual nature: it continuously accompanies our life’s high and low moments, having also a leading role in the Mysteries of religion. Wine is indirectly recognized as a soul-opening tool, thus enabling communication between humans, and, by extension, with God. Whether in the banquets of ancient Greece or in the rituals of the Greek Orthodox tradition, wine is the fair for the passage to the spiritual essence of man and life.

Social extroversion is another characteristic of wine: vine cultivation, harvesting and vinification are processes in which no

Greek wine also carries a strong extroversion of spiritual nature I 82 I

one can cope on their own. It is thanks to wine that man has to admit the finite of his abilities, and turn to fellow man for help. A help, however, that is not asked subordinately and is given neither by regret nor duty. It is given to glorify life.

That’s why all the vineyard work is based on celebrations.

Finally, wine carries an additional element of extroversion owing to its very character: no other product made by man, except for artwork, can be as passionately debated as wine. It is a product of human toil, which by nature invites everyone --connoisseur or not, lover or not-- to perceive it, taste it, talk about it, disagree, ask and learn, and travel in time and space. It is not just another consumer product; on the contrary, as it moves along the limits of artwork, it seems to have the capacity to concentrate human interest on what it has to offer: the enjoyment of all the senses in combination with its incredible variety.

It is often said that for wine you have to invest a great fortune to take back a small one. Econometrically speaking, this might hold partly true. However, Greek winemakers feel that the wealth of wine cannot be perceived by those who understand only statistical and accounting data. Within every wine bottle that arrives at your table there is a lot of our passion, soul and ideas of ​​how we see the world. Our own kind of extroversion.

n Wine exports 2010-2017 (in tn)

n Wine exports value 2000-2017 (in €)

Year

EU states

Third Countries

Total

Year

EU states

Third Countries

Total

2010

27.594

5.004

32.597

2010

45,373,139 €

13,068,375 €

58,441,514 €

2011

32.515

4.903

37.418

2011

50,308,473 €

15,445,299 €

65,753,772 €

2012

31.569

4.554

36.123

2012

49,233,059 €

17,126,718 €

66,359,777 €

2013

22.642

4.472

27.114

2013

43,129,454 €

16,180,010 €

59,309,464 €

2014

23.502

4.327

27.829

2014

45,991,432 €

16,645,812 €

62,637,244 €

2015

23.34

4.675

28.015

2015

46,875,055 €

19,997,875 €

66,874,945 €

2016

25.428

4.837

30.266

2016

52,592,841 €

21,124,599 €

73,717,440 €

2017

24.826

5.186

30.012

2017

52,841,750 €

24,090,923 €

76,932,673 €

Change 2016-2017

-2,37%

7,21%

-0,84%

Change 2016-2017

0,47%

14,04%

4,36%

5-year average

25.296

4.573

29.869

5-year average

47.564.368

18.215.003

65.779.774

% Change

-1,86%

13,40%

0,48%

% Change

11,10%

32,26%

16,95%

Source: ELSTAT Exports USA

2010

2011

2012

2013

2014

2015

2016

2017

6,554,710 €

7,148,053 €

8,394,392 €

7,973,579 €

8,226,408 €

10,511,890 €

10,865,766 €

12,470,560 €

1836347

2118473

2020861

1957120

1906879

2218598

2235530

2359041

3,57

3,37

4,15

4,07

4,31

4,74

4,86

5,29

2010

2011

2012

2013

2014

2015

2016

2017

2,944,900 €

2,905,569 €

3,531,063 €

3,223,637 €

3,658,728 €

4,236,285 €

4,513,393 €

5,401,770 €

921615

810849

958132

910411

980329

1039079

1052329

1180235

3,20

3,58

3,69

3,54

3,73

4,08

4,29

4,58

Germany

2010

2011

2012

2013

2014

2015

2016

2017

Value in €

26,563,926 €

28,986,884 €

27,415,669 €

26,185,033 €

26,400,508 €

27,599,990 €

29,283,715 €

29,850,408 €

16561043

17870933

16428976

13573728

13379699

13863233

14552220

14666407

1,60

1,67

1,67

1,93

1,97

1,99

2,01

2,04

Value in € Volume in kg T/M in €/kg Exports Canada Value in € Volume in kg T/M in €/kg Exports

Volume in kg T/M in €/kg Source: ELSTAT

GREEK WINE FEDERATION - PROFILE

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:

- 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 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 83 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

George Raounas Chairman of the BoD, SESMA (Hellenic Association of Management Consulting Firms), Partner KPMG Advisors

Greek exports of goods in the period 2010-2017 (at fixed 2010 prices) recorded a Compound Annual Growth Rate (CAGR) I 84 I

Greek exports of goods and services in 2010-2017 The evolution of Greek exports of goods and services in the period 2010-2017, 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 31.9% in 2017, which brings the ratio of imports/ exports to 92.2% in 2017, compared to 66.2% in 2009, and reduced the deficit of the external goods and services balance to 2.7% of GDP in 2017 against 10.2% of GDP in 2010.

Greek exports of goods in the period 2010-2017 (at fixed 2010 prices) recorded a Compound Annual Growth Rate (CAGR) of 5.3%, which was close to the EU-19 average of 5.2%. Also, exports growth as a percentage of GDP moved higher (17.6% in 2017, from 9.1% in 2009 and 8.0% in 1995) than the other EU countries except Portugal, notwithstanding the fact that this increase was recorded from very low levels, compared to the other countries under consideration. This is because Greece has significant comparative advantages in the service sector, which in spite of a large decline in 2010-2016, has remained at a much higher level than in other euro zone countries. In fact, exports of services (at 2010 prices) recorded an increase of CAGR 0.5% in the period 2001-2007, 0.4% in the period 2010-2017 and 2.2% in the period 20132017, due to the increase in revenues from incoming tourism (CAGR 0.2% in 2001-2017, 3.6% in 2010-2017 and 5.4% in 2013-2017), while exports of other services also increased (CARG 2.1% in 2001-2017, 3.8% in 20102017 and 5.1% in 2013-2017). The increase

in CARG in other services would have been higher if they had not fallen by 14.0% in 2015, due to the 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. Although the exports of petroleum products recorded a significant increase of 11.0% (at fixed 2010 prices) in the period 2010-2017 and 15.5% in the period 2001-2017, the exports of goods excluding petroleum products increased by 4.5% in the period 2014-2017, 3.4% in 2010-2017 and 2.2% in 2001-2017.

Foreign trade statistics for 2017 as per ELSTAT, are also interesting, as regards the width and growth potential of Greek exports of goods. They show that Greece exported 891 products in 4-digit codes of the international trade Combined Nomenclature [CN], with transactions over â‚Ź100m. 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.

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 Q4 2018 management consultants were significantly more optimistic regarding the exports of products and services for the following year. More specifically, the variance in the percentages between the ones predicting an increase and those expecting a drop was 46.4%, signifying a strong trend for exports increase. Improvement was also recorded when comparing the average of expectations between 2018 (35.3%) and 2017 (28.2%).

Hellenic Association of Management Consulting Firms (SESMA) PROFILE

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

The Hellenic Association of Management Consulting Firms (SESMA) was founded in January 1991 and represents the management consulting firms in Greece.

SESMA’s member companies number 46, including large Greek firms and the international firms that operate in Greece.

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’s main objectives are the development of the management consulting market in Greece and abroad, and the increase in employment in the profession.

SESMA has extensive experience in organizing conferences/forums, networking events and training for members, as well as for consultants from other countries. In addition, SESMA promotes the interests of Management Consultancy with public authorities by participating in working groups and committees, drafting position papers, preparing studies and assisting in legislation issues, in order to ensure awareness of professional interests.

SESMA is 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 (SBBE).

SESMA’s member firms provide the following consulting services: ■ Corporate Strategy Consulting and Business Planning ■ Organisation/Operations Management ■ Human Resource Organisation and Development ■ Design and Support Services for the implementation of Developmental – Operational Programmes and Projects ■ Μarketing and Corporate Communication ■ Information Technology Consulting ■ Financial Advisory ■ Design and Implementation of Digital Transformation and Innovation ■ Economic Studies ■ Environmental Studies

101 Vasilisis Sofias Ave., 115 21, Athens, Greece Tel.: +30 210 6470660 Fax: +30 210 6470661 Email: info@sesma.gr Website: www.sesma.gr

I 85 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

George Pittas President of SETSEM (Greek Federation of Honey Packers, Distributors and Exporters) and President of FEEDM (European Federation of Honey Packers & Distributors)

… only in Greece beekeeping is nomadic, which gives the opportunity for the bees to pollinate in different areas and produce different varieties of honey I 86 I

Greek honey leading worldwide in the future SETSEM was established in 1983, as a member of the Greek Interprofessional Organization for Honey and Other Beehive Products, and member of the European Federation of Honey Packers & Distributors (FEEDM). Recognized by all related governmental bodies, SETSEM represents companies that manage more than 60% of the officially traded quantity of Greek honey in our country. Staying loyal to our principles is the only way to maintain market stability and preserve the Greek origin of honey. SETSEM’s goal is to protect and promote Greek honey internationally, so as to become a global leader, to support Greek apiculture and protect the environment.

Despite the economic crisis, there is a great opportunity nowadays, since the European Parliament took the initiative to support European apiculture, beekeepers, bees and honey. In EP’s report there is a list of measures to further support the EU apiculture sector that include the increase of financial support for beekeeping programs, further research and support regarding bee health, eradication of bee diseases and development of medical treatments for bees, combating honey fraud, promoting honey as healthy food in public education, and encouraging honey consumption through advertising and promotional activities.

Taking all that into consideration, there is a great opportunity for Greek honey to excel, since Greece’s unique natural environment provides us with a superior quality honey. The morphology of Greece is exceptional: a combination of valleys, mainland, mountains and islands. Another reason why Greek honey is considered unique is because it is gathered from a variety of around 6,000 different types of natural flowers, herbs and trees, 1,300 of which are only found in Greece. As a result, it is rich in aroma and taste and thick in texture. Finally, only in Greece beekeeping is nomadic, which gives the opportunity for the bees to pollinate in different areas and produce different varieties of honey.

For Greek honey to reach the top in the international market we need to protect its purity, to closely collaborate with honey producers to establish a Greek trademark so as to distinguish it and prove authenticity, to create a national campaign and participate in established international exhibitions, to create a database at the Ministry of Rural Development and Food in the export department with information on each country’s requirements in terms of honey parameters, and to enhance all the unique characteristics that contribute to the high quality of Greek honey. In other words, we are focused on building a strong brand for Greek honey worldwide, and we have all the potential to achieve that!

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Dr. Christos Apostolopoulos President, association of greek dairy industries

The raw material used (milk) is of unprecedented value and guarantees the quality of the final products I 88 I

The challenges & opportunities of the dairy sector The Greek Dairy industry is one of the most important sectors of the Greek Food Industry and the Greek Economy in General. The technology and automation of this industrial sector is the most advanced and it has nothing to be jealous of any other respective sector in the world. The raw material used (milk) is of unprecedented value and guarantees the quality of the final products. The sector has a turnover of about 2 billion euros, but the most important thing is that its full potential has not been exploited yet.

The recessive period of the Greek economy had a very negative impact on the dairy industry’s recent significant development.

First of all, we had a dramatic reduction in the birth rate in Greece for many years now, which has greatly affected the Greek children population (main consumers of milk and dairy products). The internal market respectively had also a significant reduction in the demand of dairy products, which are supposed to be goods of inelastic nature. This has driven producers to foreign markets. Indeed, in the last few years exports have almost doubled in some main products, which is a positive sign.

However, this change in the course of the Dairy sector was not an act of choice but a one-way road, which all the producers were forced to follow, and therefore they found themselves competing each-other in a market where the demand did not change. The result of this wrong but compulsory move was that the achieved price in exports was extremely low, even lower than that of the Greek market!

The right way is to first invest in the

development of the market demand and then enter it. Otherwise the only thing that you are going to get is just low prices.

Greek Dairy exports are represented essentially by just two products, Feta cheese and Greek Yogurt. Feta cheese, despite being a PDO product, accounts for only 10% of feta cheese sold worldwide.

For Greek yogurt, the situation is far worse although the world’s turnover of the Greek Yogurt (not yogurt in general) is about $4 billion! Our exports account for less than 1/10,000 of this enormous pie. It is more than evident that both products have huge export potential. Feta cheese needs firstly to educate the world consumer that it is a truly unique product in all aspects (organoleptically, nutritionally, historically, etc.), and to fight with all means all the imitations, most of which we (the Greek State) have given them the right to call their products “feta cheese” (i.e. Canada, S.Africa, Vietnam, Singapore, etc.). The Greek yogurt is the most scandalous case since we do not react officially in Europe (as Greek state) allowing non-Greek producers to produce their yogurts aboard and call them “Greek yogurts” which is a clear declaration of its origin that of course is not Greek.

It is true that the potential of a substantial growth of the Dairy sector is in our hands.

We have lost many battles until now and in order not to lose the war we need to have a consensus of all the stakeholders (producers, farmers and the state) with one and only vision (which is not the case today) otherwise the war will be lost forever.

www.newtimes.gr

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

Dimitris Karavasilis

…Greek Exports?

Founder & CEO DK Marketing

Greece, and furthermore, Greek products, have so much potential I 90 I

The challenging, but at the same time beautiful journey that I pursue regarding what I do, concerning the creation and development of new products and their promotion in the global market, started 25 years ago. Back then, the internet connection was running on 64k! And our thirst for information was quite limitedly quenched through search engines like lycos.com, yellow pages and through telephone catalogs of foreign countries with the help of Lotus124 spreadsheets.

The professors that at that time were teaching us international marketing and international trade, concepts that you only found written in Anglo-Saxon bibliographies, highlighted the basic and fundamental principal: think global - act local and create local – sell global.

In simple words, the ability to be located anywhere, in any country, city, village of the earth but to be constantly aware and updated, and thus, be able to design products and services that consumers want in New York, Beijing, Sydney, Chicago, London and anywhere else.

Having been an executive in big multinational companies, exploring and utilizing tools and perceptional methods of consumer behavior, I landed on the Greek reality firstly as an executive in Greek firms and then as the founder of DK Marketing and Idea Monkeys, with the purpose to serve faithfully the entrepreneurial principles that I was once taught.

The Greek entrepreneurial reality denied me and also let me down. Everyone knew everything, one was selling to another and everyone was happy, something like “the madness of the Greek stock exchange”.

Having no entrepreneurial or extroverted

culture, having no knowledge, no tools, but mainly having no perception of what is happening in the latitudes and longitudes of the global markets.

Along came the years of the Greek economic crisis, where the majority of people on a State and entrepreneurial level, started to discover the word extroversion, seeking then by necessity customers beyond the Greek borders with the purpose of selling what we could no longer sell amongst us anymore.

Back in 2013, alongside with the at that time president of the Greek Exporters Association, Mr. D. Lakasas, we set one objective: exports to constitute 50% of the Greek GDP. Back in 1999 I was characterized ‘crazy’ for starting to implement export marketing in Greece; in 2013, the same characterization was once again attached to me.

Because, as we say in Greece, “from a youth and a crazy person you will be told the truth”, YES WE CAN achieve this objective.

We can, if we set aside everything that divides us and start discussing what unites us. If we set aside the complexes and the sciolism, admit our mistakes and proceed to ‘build’ the new extroverted culture of this country.

Greece, and furthermore, Greek products, have so much potential. Besides the food and beverages, besides the industrial products and the technology, the younger Greek generations have acquired high quality know-how due to the increased degree of specialization (above 80%) and speak at least one foreign language. If all this intellectual wealth that is locked away and hidden, manages to surface and unravel, it could create new economic miracles.

CREATIVE GREECE 2019 LEADERS IN EXTROVERSION

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Company Name 1 2 3 4 5

HELLENIC PETROLEUM S.A. MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. ELVALHALCOR S.A. KARELIA TOBACCO COMPANY INC. COCA - COLA TRIA EPSILON (3Ε)

6

ELAIS-UNILEVER HELLAS S.A.

7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27

NESTLE HELLAS S.A. ELPEDISON S.A. ATHENIAN BREWERY S.A. TH. NITSIAKOS S.A. PAPASTRATOS TOBACCO COMPANY S.A. TITAN S.A. SOVEL – GREEK STEEL PROCESSING COMPANY S.A. SOYA HELLAS 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. AGRICULTURAL POULTRY COOPERATIVE PINDOS BIC VIOLEX S.A. SOYA MILLS S.A. HERON THERMOELECTRIC S.A. SYSTEMS SUNLIGHT S.A. FAGE DAIRY INDUSTRY S.A. PHARMATHEN S.A. CROWN HELLAS CAN PACKAGING MANUFACTURERS S.A. MEGA DISPOSABLES S.A. OLYMPIC BREWERY S.A. E. I. PAPADOPOULOS S.A. GR. SARANTIS S.A. PLASTIKA KRITIS S.A. HELLENIC HALYVOURGIA S.A. VIOLAR S.A. FULGOR S.A. DEMO S.A. PAVLOS N. PETTAS S.A. MONDELEZ HELLAS S.A. ELPEΝ S.A. ALUMIL ALUMINIUM S.A. FAMAR S.A. HELLENIC CABLES S.A. LANDIS + GYR S.A.

28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44

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THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES Sector

Turnover 2016

Turnover 2017

482,391,000 € 422,310,000 € 47,784,000 € 68,641,000 € 12,500,000 €

Pre-Tax Income Change 3% 8% 77% -22% 495%

-217,132,813 €

_

34,719,777 € -11,318,000 € 13,940,603 € 7,919,469 € 251,284,290 € 11,881,000 € 997,686 € 9,414,012 € -9,665,000 € -8,143,000 € 5,797,578 € 5,720,858 € 25,213,735 € -4,930,661 € 3,617,340 € 35,342,319 € 3,814,748 € 4,328,000 € 9,050,257 € 9,935,000 € 18,229,928 €

225% -14% 4% -1% 826% -48% -61% -15% -38% -57% -55% 102% 230% _ 166% -13% -9% -30% 72% _ 43%

Turnover Pre-Tax Pre-Tax Change Income 2016 Income 2017

PETROLEUM PRODUCTS 5,925,776,000 € 7,233,600,000 € 22.07% 466,224,000 € PETROLEUM PRODUCTS 4,511,920,000 € 5,739,354,000 € 27.20% 392,804,000 € METAL PRODUCTS 771,013,000 € 895,786,000 € 16.18% 27,056,000 € TOBACCO PRODUCTS 646,740,000 € 679,730,000 € 5.10% 88,290,000 € BEVERAGES 411,800,000 € 456,900,000 € 10.95% 2,100,000 € FOODS, REFRESHMENTS, 400,950,309 € 382,159,600 € -4.69% 8,090,717 € PERSONAL & HOME CARE FOOD PRODUCTS 331,553,521 € 336,026,131 € 1.35% 10,667,744 € ENERGY 322,233,000 € 414,299,000 € 28.57% -13,193,000 € BEVERAGES - SPIRITS 321,628,672 € 341,242,032 € 6.10% 13,397,576 € FOOD PRODUCTS 301,470,991 € 324,457,182 € 7.63% 8,038,957 € TOBACCO PRODUCTS 291,633,208 € 262,834,307 € -9.88% 27,143,508 € NON MINERAL 262,475,000 € 233,805,000 € -10.92% 22,706,000 € METAL PRODUCTS 256,881,649 € 342,961,871 € 33.51% 2,551,621 € FOOD PRODUCTS 251,713,412 € 293,415,039 € 16.57% 11,071,375 € FOOD PRODUCTS 238,534,000 € 223,070,000 € -6.48% -15,588,000 € NON MINERAL 235,587,000 € 212,663,000 € -9.73% -18,886,000 € PHARMACEUTICALS - DETERGENTS 228,865,965 € 220,184,011 € -3.79% 12,974,854 € PHARMACEUTICALS - DETERGENTS 226,830,856 € 240,677,894 € 6.11% 2,834,921 € FOOD PRODUCTS 224,952,645 € 256,717,193 € 14.12% 7,632,927 € METAL PRODUCTS 210,694,839 € 326,117,922 € 54.78% 13,771,308 € FOOD PRODUCTS 209,123,165 € 219,891,985 € 5.15% 1,358,029 € MISCELLANEOUS PRODUCTS 202,645,697 € 198,015,153 € -2.29% 40,717,372 € FOOD PRODUCTS 196,633,786 € 190,651,496 € -3.04% 4,207,154 € ENERGY 193,725,000 € 260,037,000 € 34.23% 6,192,000 € ELECTRICAL SUPPLIES 168,434,865 € 222,847,726 € 32.31% 5,270,973 € FOOD PRODUCTS 159,160,000 € 143,404,000 € -9.90% -10,352,000 € PHARMACEUTICALS - DETERGENTS 156,460,711 € 176,163,599 € 12.59% 12,755,137 € METAL PRODUCTS

153,041,731 €

166,219,229 €

8.61%

3,336,952 €

4,198,662 €

26%

PAPER BEVERAGES - SPIRITS FOOD PRODUCTS PHARMACEUTICALS - DETERGENTS PLASTICS - RUBBER METALLURGY TEXTILES ELECTRICAL SUPPLIES PHARMACEUTICALS - DETERGENTS FOOD PRODUCTS FOOD PRODUCTS PHARMACEUTICALS - DETERGENTS METAL PRODUCTS PHARMACEUTICALS - DETERGENTS ELECTRICAL SUPPLIES MISCELLANEOUS PRODUCTS

148,577,699 € 146,856,976 € 142,716,377 € 140,243,961 € 140,059,000 € 139,554,325 € 137,794,776 € 136,444,014 € 136,328,806 € 134,459,868 € 128,357,712 € 125,204,191 € 121,717,597 € 120,074,013 € 119,008,109 € 118,567,910 €

168,436,557 € 13.37% 5,092,192 € 4,656,142 € 148,438,878 € 1.08% 1,820,866 € 5,862,869 € 148,786,486 € 4.25% 10,013,763 € 10,612,154 € 140,414,023 € 0.12% 15,108,885 € 22,862,769 € 142,651,000 € 1.85% 22,163,000 € 24,221,000 € 167,158,223 € 19.78% -96,349 € -226,785 € 152,530,073 € 10.69% 2,007,047 € 1,089,177 € 174,261,526 € 27.72% -6,729,306 € 3,727,251 € 135,938,101 € -0.29% 17,883,633 € 14,044,002 € 157,466,263 € 17.11% 9,818,462 € 8,594,839 € 124,722,530 € -2.83% 2,712,000 € 3,185,626 € 117,193,576 € -6.40% 9,297,610 € 727,880 € 128,219,804 € 5.34% -5,454,717 € -28,986,442 € 125,629,948 € 4.63% -12,841,864 € 6,868,056 € 304,611,945 € 155.96% -2,427,074 € -8,635,038 € 130,142,151 € 9.76% 7,535,800 € 5,189,941 €

-9% 222% 6% 51% 9% 135% -46% _ -21% -12% 17% -92% 431% _ 256% -31%

I 93 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Company Name 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 89 90

I 94 I

MEVGAL S.A. CHIPITA A.E. ION S.A. COCOA & CHOCOLATE MANUFACTURERS CORAL GAS S.A. JOHNSON & JOHNSON HELLAS S.A. HELLENIC QUALITY FOODS S.A. FIBRAN D. ANASTASIADIS S.A. AGROINVEST S.A. DODONI S.A. IMERYS S.A. TASTY FOODS S.A. SIDENOR STEEL INDUSTRY S.A. PETROGAS S.A. CRETA FARM S.A. ELBISCO S.A. HENKEL ΕΛΛΑΣ Α.Β.Ε.Ε.

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 S.A. LARSINOS S.A. INTERBETON BUILDING MATERIALS S.A. NEXANS HELLAS S.A. EXALCO S.A. KARAGIORGOU S.A. AMBROSIADIS S.A. GIOTIS S.A. BARILLA HELLAS S.A. MINERVA S.A. ATLAS TAPES S.A. HELLENIC AEROSPACE INDUSTRY S.A. RAYCAP S.A. HAITOGLOU BROS S.A. PROMETALBAKLI S.A. COSMOS ALUMINIUM S.A. MONOTEZ S.A. HELLENIC SUGAR INDUSTRY S.A. VIKOS S.A. EPIROTIC BOTTLING INDUSTRY RECKITT BENCKISER S.A.

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES Sector FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS LIQUID GAS PHARMACEUTICALS - DETERGENTS FOOD PRODUCTS PLASTICS - RUBBER FOOD PRODUCTS FOOD PRODUCTS NON MINERAL FOOD PRODUCTS METAL PRODUCTS LIQUID GAS FOOD PRODUCTS FOOD PRODUCTS PHARMACEUTICALS - DETERGENTS FOOD PRODUCTS ELECTRICAL SUPPLIES ENERGY FOOD PRODUCTS TEXTILES ELECTRICAL SUPPLIES FOOD PRODUCTS FOOD PRODUCTS TOBACCO PRODUCTS FOOD PRODUCTS MACHINES - DEVICES NON MINERAL NON MINERAL ELECTRICAL SUPPLIES METAL PRODUCTS TEXTILES FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS PLASTICS - RUBBER TRANSPORTATION MEANS ELECTRICAL SUPPLIES FOOD PRODUCTS METAL PRODUCTS METALLIC PRODUCTS PLASTICS - RUBBER FOOD PRODUCTS BEVERAGES - SPIRITS PHARMACEUTICALS - DETERGENTS

Turnover 2016 109,599,000 € 109,438,000 € 107,885,229 € 104,913,000 € 103,770,522 € 103,464,372 € 102,522,733 € 101,632,517 € 100,449,092 € 98,948,000 € 98,892,080 € 98,001,177 € 97,937,255 € 97,747,000 € 97,584,000 € 96,930,810 € 96,536,741 € 96,400,934 € 96,031,836 € 94,433,831 € 89,347,000 € 86,562,175 € 86,521,000 € 85,440,605 € 85,021,025 € 81,316,554 € 81,112,589 € 80,363,724 € 78,911,638 € 75,982,000 € 75,534,831 € 73,548,177 € 73,102,761 € 72,984,750 € 71,686,156 € 71,369,874 € 70,194,777 € 69,975,770 € 69,674,719 € 69,388,000 € 69,210,696 € 68,952,000 € 68,817,912 € 68,581,268 € 67,721,356 € 67,711,921 €

Turnover 2017

Turnover Pre-Tax Pre-Tax Change Income 2016 Income 2017

107,368,000 € 117,883,000 € 107,935,518 € 122,365,000 € 103,447,190 € 104,175,862 € 118,938,564 € 93,713,254 € 105,606,487 € 105,292,000 € 99,617,313 € 269,365,150 € 108,727,979 € 107,590,000 € 94,038,000 € 86,904,460 € 92,153,609 € 105,839,386 € 123,096,199 € 98,481,530 € 106,640,000 € 93,987,383 € 84,210,000 € 83,631,295 € 75,817,047 € 84,710,805 € 92,755,780 € 63,538,568 € 91,166,801 € 80,698,000 € 96,227,020 € 93,068,999 € 72,070,493 € 74,655,429 € 71,979,108 € 64,029,271 € 84,054,926 € 59,599,348 € 76,914,622 € 70,842,000 € 79,869,645 € 78,080,000 € 85,394,976 € 72,467,425 € 70,573,635 € 67,859,217 €

-2.04% 425,000 € 1,264,000 € 7.72% 31,099,000 € 38,325,000 € 0.05% 4,901,039 € 7,348,906 € 16.64% 1,349,000 € 1,107,000 € -0.31% 7,378,764 € 3,091,714 € 0.69% -1,198,850 € -2,310,534 € 16.01% 4,738,038 € 9,686,866 € -7.79% 15,053,744 € 9,858,197 € 5.13% 5,616,564 € 3,456,331 € 6.41% 22,766,000 € 31,813,000 € 0.73% 6,632,162 € 5,152,039 € 174.86% -15,885,308 € -4,038,981 € 11.02% -1,343,642 € -601,634 € 10.07% -5,219,000 € 2,116,000 € -3.63% -4,211,000 € -2,895,000 € -10.34% 7,922,550 € 1,633,580 € -4.54% 4,586,228 € 4,561,579 € 9.79% 87,837 € -746,962 € 28.18% -3,251,369 € 3,796,820 € 4.29% 2,878,654 € 1,356,148 € 19.36% 942,000 € 3,566,000 € 8.58% 3,200,815 € 3,251,371 € -2.67% 4,086,000 € 7,108,000 € -2.12% 1,541,441 € 1,117,680 € -10.83% -193,041 € -4,765,693 € 4.17% 11,247,655 € 9,634,512 € 14.35% 1,976,385 € 7,524,498 € -20.94% 11,478,423 € 7,174,235 € 15.53% -7,667,727 € 4,462,814 € 6.21% 1,721,000 € 246,000 € 27.39% 43,516 € 37,046 € 26.54% 2,607,132 € 2,074,232 € -1.41% 545,317 € 582,392 € 2.29% 5,305,075 € 4,462,356 € 0.41% 6,228,171 € 7,525,099 € -10.29% -1,266,531 € 2,310,093 € 19.75% 4,906,407 € 4,122,289 € -14.83% -21,465,601 € -13,776,814 € 10.39% 5,461,964 € 4,082,712 € 2.10% -2,210,000 € -4,362,000 € 15.40% 4,069,374 € 7,495,123 € 13.24% 4,662,000 € 5,582,000 € 24.09% 5,717,862 € 8,043,307 € 5.67% -40,393,657 € -21,933,958 € 4.21% 14,555,166 € 10,341,922 € 0.22% 4,941,734 € 3,606,242 €

Pre-Tax Income Change 197% 23% 50% -18% -58% 93% 104% -35% -38% 40% -22% -75% -55% _ -31% -79% -1% _ _ -53% 279% 2% 74% -27% 2369% -14% 281% -37% _ -86% -15% -20% 7% -16% 21% _ -16% -36% -25% 97% 84% 20% 41% -46% -29% -27%

I 95 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Company Name 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135

I 96 I

FLEXOPACK S.A. A. HATZOPOULOS S.A. HELLENIC DOUGH – ARABATZIS S.A. KRI KRI MILK INDUSTRY S.A. KARATZIS INDUSTRIAL AND HOTEL ENTERPRISES S.A. F.H.L. KYRIAKIDIS GROUP DS SMITH HELLAS S.A. M. J. MAILLIS S.A. PYRAMIS S.A. SPECIFAR S.A. BIOMAR HELLENIC S.A. INTERTRADE HELLAS S.A. B&F COMMERCIAL & GARMENT INDUSTRIES S.A. PAVLIDIS MARBLE-GRANITE S.A. ALOUMAN S.A. DOW HELLAS S.A. Κ.Β. MARKOY S.A. INTRACOM DEFENSE ELECTRONICS S.A. IRIDA S.A. MELISSA KIKIZAS FOOD PRODUCTS S.A. MORNOS S.A. POLISAN HELLAS S.A. ELVIAL S.A. KARAMOLEGOS BAKERY S.A. VENUS GROWERS AGRICULTURAL COOPERATIVE OF VEROIA LITTLE ACRE MILK FARM S.A. UNI-PHARMA KLEON TETSIS S.A. MISSIRIAN S.A. PR. PAVLIDIS S.A. ANDROMEDA S.A. CH. ROKAS METALPRODUCTS ARKADIAS S.A TOTTIS-BINGO S.A. VIVECHROM DR ST. D. PATERAS S.A. GALAXIDI MARINE FARM S.A. PEPSICO - ΗΒΗ LTD. 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.

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES Sector

Turnover 2016

8,175,000 € 3,070,173 € 8,258,000 € 8,161,529 € 11,024,000 € 27,707,236 € 691,916 € -3,366,887 € 596,172 € 8,452,314 € 7,717,463 € 1,644,876 € 7,410,969 € 31,097,231 € 1,520,535 € 15,069,473 € 1,352,613 € 1,598,913 € 3,489,303 € 5,685,483 € 1,721,000 € -1,268,000 € 4,661,991 € -6,278,963 €

10,327,000 € 3,027,459 € 10,391,000 € 9,890,525 € 22,587,000 € 65,651,703 € -1,801,229 € -2,938,473 € 854,507 € 4,370,077 € 7,752,345 € 2,030,909 € 6,846,909 € 42,016,654 € 1,830,479 € 16,395,020 € 1,009,720 € 3,205,824 € 3,758,752 € 5,933,238 € 358,000 € 1,604,000 € 5,248,768 € -2,077,988 €

Pre-Tax Income Change 26% -1% 26% 21% 105% 137% _ -13% 43% -48% _ 23% -8% 35% 20% 9% -25% 101% 8% 4% -79% _ 13% -67%

223,444 €

25,831 €

-88%

54,421,051 € -1.24% 2,279,846 € 5,242,764 € 55,917,029 € 2.72% 1,019,354 € 1,459,734 € 55,271,375 € 3.06% 558,212 € 1,183,760 € 65,610,389 € 22.39% 2,570,582 € 3,284,942 € 50,869,678 € -5.04% 655,537 € 4,451,240 € 51,559,000 € -3.21% 31,056,000 € 33,457,000 € 55,519,383 € 6.71% 341,088 € 359,851 € 51,620,659 € 0.17% 8,936,067 € 8,897,342 € 49,750,796 € -3.29% 1,170,411 € 1,132,055 € 43,509,348 € -14.13% -13,093,699 € -10,408,538 € 50,027,997 € 0.78% 1,421,785 € 1,338,934 € 49,952,289 € 1.32% 518,076 € -2,204,831 € 39,250,381 € -19.64% 1,834,029 € 965,206 € 45,424,638 € -4.94% 761,287 € 1,357,328 € 46,169,276 € -2.90% 6,711,298 € 7,832,349 € 44,862,125 € -5.47% 903,343 € 2,753,596 € 45,302,987 € -4.13% 1,663,911 € 1,186,784 € 47,195,000 € 2.20% 562,000 € 128,000 € 48,286,056 € 4.65% 3,710,723 € 2,664,642 € 64,488,952 € 41.85% 867,679 € 1,527,922 €

130% 43% 112% 28% 579% 8% 6% -0% -3% -21% -6% _ -47% 78% 17% 205% -29% -77% -28% 76%

Turnover 2017

PLASTICS - RUBBER PACKAGING FOOD PRODUCTS FOOD PRODUCTS PACKAGING NON MINERAL PAPER METAL PRODUCTS METAL PRODUCTS PHARMACEUTICALS - DETERGENTS FOOD PRODUCTS AGRICULTURAL ENTERPRISES CLOTHING NON MINERAL METAL PRODUCTS CHEMICAL PRODUCTS TEXTILES ELECTRICAL SUPPLIES FOOD PRODUCTS FOOD PRODUCTS PLASTICS - RUBBER PLASTICS - RUBBER ALUMINUM PRODUCTS FOOD PRODUCTS

67,416,000 € 67,351,062 € 67,179,000 € 66,570,168 € 65,853,000 € 65,573,616 € 65,354,861 € 65,075,049 € 65,035,675 € 64,861,658 € 64,429,985 € 63,851,490 € 63,297,251 € 62,220,278 € 61,332,347 € 59,734,382 € 57,812,113 € 57,437,217 € 57,158,551 € 56,729,890 € 56,303,000 € 56,010,000 € 55,914,882 € 55,572,705 €

AGRICULTURAL

55,233,633 €

52,156,577 €

FOOD PRODUCTS PHARMACEUTICALS - DETERGENTS ΕΠΕΞΕΡΓΑΣΙΑ ΚΑΠΝΟΥ FOOD PRODUCTS FOOD PRODUCTS METAL PRODUCTS FOOD PRODUCTS CHEMICAL PRODUCTS FOOD PRODUCTS BEVERAGES - SPIRITS CHEMICAL PRODUCTS PAPER FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS PAPER FOOD PRODUCTS PLASTICS - RUBBER TOBACCO PRODUCTS

55,104,482 € 54,435,982 € 53,632,220 € 53,606,486 € 53,570,986 € 53,269,000 € 52,028,159 € 51,534,896 € 51,442,620 € 50,666,136 € 49,642,211 € 49,301,169 € 48,840,039 € 47,785,665 € 47,545,872 € 47,457,519 € 47,252,389 € 46,180,000 € 46,140,392 € 45,461,590 €

Turnover Pre-Tax Pre-Tax Change Income 2016 Income 2017

70,284,000 € 4.25% 68,912,340 € 2.32% 72,733,000 € 8.27% 79,246,189 € 19.04% 70,431,000 € 6.95% 112,801,466 € 72.02% 67,465,628 € 3.23% 73,461,967 € 12.89% 70,586,777 € 8.54% 54,757,422 € -15.58% 66,440,785 € 3.12% 64,527,719 € 1.06% 68,123,461 € 7.63% 81,397,313 € 30.82% 68,984,648 € 12.48% 68,557,237 € 14.77% 80,069,670 € 38.50% 65,856,157 € 14.66% 56,642,536 € -0.90% 61,352,859 € 8.15% 52,885,000 € -6.07% 72,262,000 € 29.02% 65,690,212 € 17.48% 54,433,302 € -2.05% -5.57%

www.newtimes.gr I 97 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Company Name 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181

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EVGA S.A. KORRES NATURAL PRODUCTS S.A. PHARMATHEN INTERNATIONAL S.A. ΕΛΣΑ - SILGAN METAL PACKAGING Α.Ε.

SEPTONA S.A. SCHUR FLEXIBLES ABR S.A. FITCO S.A. CHITOS S.A..

NEWREST HELLAS S.A. MEGARA RESINS - FANIS ANASTASSIOS S.A. ISOMAT S.A. UNILEVER-KNORR S.A. LUNCHEON MEAT OF EVROS S.A. P. G. NIKAS S.A. D. KORONAKIS S.A. SCHNEIDER ELECTRIC S.A. KAMARIDIS GLOBAL WIRE S.A. BASF HELLAS S.A. GREGORY’S MICROMEALS – GEORGATOS S.A. EPIRUS S.A. FREZYDERM S.A. UPFIELD HELLAS S.A. DEAS S.A. LAFARGE BETON S.A. MAXI S.A. PALIRRIA SOULIOTIS S.A. ATTRATTIVO A.E. (A.X.F.) SEXTOU BROS – NEW EXFRUIT 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. “OLYMP” KONSTANTOPOULOS S.A. LINDE HELLAS LTD EL PACK S.A. I. OUZOUNOPOULOS FLOURMILLS THRAKIS S.A. GALENICA PHARMACEUTICAL INDUSTRY S.A. EURIMAC S.A. DRUCKFARBEN HELLAS S.A MILLS OF CRETE S.A. PROCOS S.A. KAPA-SIGMA COTTON MILLS S.A. GF ENERGY S.A.

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES Sector FOOD PRODUCTS PHARMACEUTICALS - DETERGENTS PHARMACEUTICAL PRODUCTS METAL PRODUCTS MISCELLANEOUS PRODUCTS PLASTICS - RUBBER METAL PRODUCTS BEVERAGES - SPIRITS FOOD PRODUCTS CHEMICAL PRODUCTS CHEMICAL PRODUCTS PHARMACEUTICALS - DETERGENTS FOOD PRODUCTS FOOD PRODUCTS MISCELLANEOUS PRODUCTS ELECTRICAL SUPPLIES METAL PRODUCTS CHEMICAL PRODUCTS FOOD PRODUCTS FOOD PRODUCTS PHARMACEUTICALS - DETERGENTS FOOD PRODUCTS FOOD PRODUCTS NON MINERAL PAPER FOOD PRODUCTS CLOTHING FOOD PRODUCTS FOOD PRODUCTS MINES FOOD PRODUCTS NON MINERAL METAL PRODUCTS PLASTICS - RUBBER NON MINERAL FOOD PRODUCTS CHEMICAL PRODUCTS PAPER FOOD PRODUCTS PHARMACEUTICALS - DETERGENTS FOOD PRODUCTS CHEMICAL PRODUCTS FOOD PRODUCTS PAPER TEXTILES CHEMICAL PRODUCTS

Turnover 2016

Turnover 2017

Turnover Pre-Tax Pre-Tax Change Income 2016 Income 2017

45,161,073 € 44,883,265 € 44,834,894 € 44,763,084 € 44,712,803 € 43,772,108 € 43,732,599 € 43,517,568 € 43,183,920 € 42,828,712 € 42,590,172 € 42,500,206 € 41,822,234 € 41,801,683 € 41,747,457 € 41,217,285 € 41,145,059 € 40,323,614 € 40,290,685 € 40,253,781 € 39,806,527 € 39,755,576 € 39,515,699 € 39,404,000 € 39,113,795 € 39,026,967 € 38,962,898 € 38,715,525 € 38,606,822 € 38,582,767 € 38,571,129 € 38,557,101 € 38,463,144 € 38,369,388 € 38,169,941 € 37,809,341 € 37,066,081 € 36,827,158 € 36,746,964 € 36,592,851 € 36,501,919 € 35,804,522 € 35,601,788 € 35,367,696 € 35,325,676 € 34,962,350 €

41,654,955 € 47,785,091 € 27,441,380 € 50,080,033 € 41,701,672 € 51,520,243 € 65,493,283 € 48,529,481 € 46,608,959 € 54,139,995 € 48,424,467 € 53,152,036 € 43,406,384 € 44,916,867 € 40,583,172 € 52,466,543 € 44,159,123 € 41,284,928 € 42,835,571 € 40,602,731 € 41,921,800 € 56,009,237 € 41,901,307 € 37,777,000 € 39,992,893 € 38,262,463 € 41,267,416 € 34,543,715 € 36,147,105 € 41,184,514 € 36,523,781 € 47,341,529 € 42,991,247 € 38,365,553 € 25,996,277 € 41,665,905 € 44,613,422 € 35,476,980 € 32,147,938 € 44,416,217 € 34,770,953 € 39,955,311 € 35,044,133 € 32,014,158 € 60,867,242 € 29,780,997 €

-7.76% 459,188 € -361,547 € 6.47% -17,308 € -1,471,436 € -38.80% 1,898,633 € -1,411,940 € 11.88% 933,965 € 1,434,350 € -6.73% 2,427,304 € 580,259 € 17.70% 3,084,677 € 4,959,266 € 49.76% -2,559,616 € -49,718 € 11.52% 3,288,363 € 6,314,534 € 7.93% 6,907,371 € 8,023,092 € 26.41% 5,543,457 € 4,299,370 € 13.70% 3,296,449 € 3,704,476 € 25.06% 1,473,949 € 2,349,851 € 3.79% 2,689,116 € 818,888 € 7.45% -7,027,167 € 19,221,362 € -2.79% 12,554,491 € 10,692,134 € 27.29% -2,732,682 € -949,446 € 7.33% 4,695,194 € 4,179,059 € 2.38% 2,387,077 € 1,103,138 € 6.32% 6,401,042 € 6,401,524 € 0.87% 2,777,519 € 2,368,986 € 5.31% 6,170,559 € 5,907,689 € 40.88% 2,300,055 € 3,593,529 € 6.04% 4,665,993 € 4,639,136 € -4.13% -8,163,000 € -7,988,000 € 2.25% 2,428,483 € 631,727 € -1.96% 5,757,551 € 5,615,657 € 5.92% 46,584 € 167,339 € -10.78% 1,202,416 € 1,065,785 € -6.37% 239,472 € -5,616,150 € 6.74% -538,312 € 17,944,318 € -5.31% 4,569,837 € 2,942,981 € 22.78% -29,175,246 € -22,437,618 € 11.77% -81,324 € 1,260,796 € -0.01% 3,355,665 € 3,309,286 € -31.89% 1,992,574 € 663,154 € 10.20% 5,336,175 € 5,503,016 € 20.36% -1,897,937 € 518,107 € -3.67% 174,829 € 87,094 € -12.52% 34,917 € 313,912 € 21.38% 2,141,977 € 88,012 € -4.74% 6,757,832 € 3,916,781 € 11.59% 1,739,888 € -1,394,249 € -1.57% 120,886 € 109,982 € -9.48% 871,488 € 255,403 € 72.30% 1,505,239 € 2,287,377 € -14.82% 1,414,195 € 122,279 €

Pre-Tax Income Change _ 8401% _ 54% -76% 61% -98% 92% 16% -22% 12% 59% -70% _ -15% -65% -11% -54% 0% -15% -4% 56% -1% -2% -74% -2% 259% -11% _ _ -36% -23% _ -1% -67% 3% _ -50% 799% -96% -42% _ -9% -71% 52% -91%

I 101 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Company Name 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227

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ENERGEAN OIL S.A. ASPIS S.A C. DEDES SELECTED TEXTILES S.A. APIVITA S.A. ROLCO VIANIL S.A. GENEPHARM S.A. HELLENICA S.A. KEPENOS MILLS S.A. TOSOH HELLAS S.A. MARMOR SG “STONE GROUP INTERNATIONAL” S.A, KOPAIS S.A. VENETIS S.A. RESILUX PACKAGING COMPANY SOUTH EUROPE S.A. LOUX MARLAFEKAS S.A. IKTINOS HELLAS S.A. EFTHYMIADIS K&NE S.A. ALCHIMICA S.A. BOLTON HELLAS S.A. KATHEMIRINI EDITIONS S.A. VITEX – YANNIDIS BROS S.A. INFORM P. LYKOS S.A. PPC RENEWABLES S.A..

ELVAL COLOUR S.A. TSIMIS S.A. ALINDA VELCO S.A. DEL MONTE HELLAS S.A. LAVIPHARM S.A. HELLENIC BREWERY OF ATALANTI S.A. GAP S.A. NUTRIA S.A. OLYMPIC CATERING S.A. NOMIKOS D. S.A. KARALIS S.A. VIOSER S.A. HALYPS BUILDING MATERIALS S.A. ΖΑΝΑΕ NIKOGLOU BAKERY YEAST SA. UNION FARMERS COOPERATIVE KAVALA S.A. AGRICULTURAL COOPERATIVES UNION S.A. “ALFA” KOUKOUTARIS Α. S.A. GREEK WINE CELLARS - KOURTAKI S.A. SUNLIGHT RECYCLING S.A. ARGO S.A. KNAUF S.A. KEFALONIA FISHERIES S.A. EUREKA HELLAS S.A. PHYTOTHREPTIKI S.A.

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES Sector PETROLEUM PRODUCTS FOOD PRODUCTS TEXTILES PHARMACEUTICALS - DETERGENTS PHARMACEUTICALS - DETERGENTS PHARMACEUTICALS - DETERGENTS PHARMACEUTICALS - DETERGENTS FOOD PRODUCTS CHEMICAL PRODUCTS NON MINERAL FOOD PRODUCTS FOOD PRODUCTS PLASTICS - RUBBER BEVERAGES - SPIRITS NON MINERAL CHEMICAL PRODUCTS CHEMICAL PRODUCTS PHARMACEUTICALS - DETERGENTS NEWSPAPERS - MAGAZINES CHEMICAL PRODUCTS PUBLICATIONS - PRINTING ENERGY METAL PRODUCTS PRINTING FOOD PRODUCTS FOOD PRODUCTS PHARMACEUTICALS - DETERGENTS BEVERAGES - SPIRITS PHARMACEUTICALS - DETERGENTS FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS PHARMACEUTICALS - DETERGENTS NON MINERAL FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS BEVERAGES - SPIRITS MISCELLANEOUS PRODUCTS PLASTICS - RUBBER NON MINERAL FOOD PRODUCTS PHARMACEUTICALS - DETERGENTS CHEMICAL PRODUCTS

Turnover 2016

Turnover 2017

Turnover Pre-Tax Pre-Tax Change Income 2016 Income 2017

34,842,000 € 34,456,024 € 34,268,897 € 34,231,498 € 34,196,026 € 34,160,395 € 33,773,800 € 33,575,675 € 33,111,951 € 32,894,687 € 32,425,694 € 31,873,000 € 31,781,834 € 31,756,659 € 31,724,004 € 31,563,546 € 31,385,701 € 31,356,181 € 31,348,869 € 31,189,946 € 30,814,214 € 30,813,956 € 30,730,344 € 30,702,187 € 30,609,212 € 30,544,472 € 30,525,000 € 30,502,000 € 30,298,860 € 30,088,115 € 30,010,000 € 29,748,892 € 29,700,674 € 29,581,073 € 29,485,840 € 29,445,325 € 29,131,207 € 29,085,843 € 29,007,000 € 28,754,898 € 28,747,465 € 28,723,242 € 28,660,013 € 27,909,065 € 27,906,949 € 27,905,582 €

48,157,000 € 37,653,403 € 30,393,310 € 36,782,568 € 24,907,748 € 37,925,600 € 33,376,349 € 34,027,202 € 28,785,563 € 31,398,122 € 24,552,986 € 36,416,000 € 34,600,937 € 33,241,947 € 47,609,598 € 38,582,144 € 37,447,927 € 27,663,368 € 33,961,537 € 33,618,062 € 29,925,255 € 25,862,614 € 35,970,566 € 33,900,793 € 34,978,324 € 25,403,108 € 20,350,000 € 18,744,000 € 29,462,904 € 31,632,262 € 26,209,000 € 28,227,995 € 33,208,725 € 30,311,925 € 26,722,044 € 31,201,366 € 29,468,833 € 29,213,100 € 28,308,754 € 29,329,809 € 43,946,624 € 29,196,410 € 36,069,434 € 30,828,579 € 27,778,409 € 31,870,372 €

38.22% -42,898,000 € 9.28% 1,003,273 € -11.31% -4,810,188 € 7.45% 2,377,060 € -27.16% -773,211 € 11.02% 2,423,962 € -1.18% 3,501,547 € 1.35% 2,813,844 € -13.07% -90,531 € -4.55% 3,620,583 € -24.28% 513,089 € 14.25% 3,463,000 € 8.87% -258,562 € 4.68% 2,738,117 € 50.07% 1,409,842 € 22.24% 592,110 € 19.32% 6,295,638 € -11.78% 5,089,252 € 8.33% -5,624,919 € 7.79% 2,275,475 € -2.89% -1,080,030 € -16.07% 14,862,386 € 17.05% 806,438 € 10.42% 23,584 € 14.27% -134,210 € -16.83% 721,224 € -33.33% -3,419,000 € -38.55% 2,527,000 € -2.76% 2,613,041 € 5.13% -1,128,106 € -12.67% 5,072,000 € -5.11% 551,591 € 11.81% 3,610,955 € 2.47% 1,350,527 € -9.37% -8,915,752 € 5.96% 271,370 € 1.16% 11,674 € 0.44% 874,012 € -2.41% 3,514,267 € 2.00% 113,120 € 52.87% -2,421,832 € 1.65% 9,830,674 € 25.85% 2,435,759 € 10.46% 2,385,726 € -0.46% 878,544 € 14.21% 520,915 €

27,493,000 € 1,786,811 € -5,903,705 € -9,938,189 € -2,276,668 € 3,806,163 € 1,407,672 € 565,291 € -3,621,174 € 2,439,309 € 1,073,708 € 2,916,000 € -607,320 € 2,935,614 € 14,910,132 € 672,311 € 4,300,576 € 3,281,064 € -1,559,440 € 1,789,754 € -1,251,514 € 4,712,328 € -38,891 € 170,691 € 259,691 € 326,406 € -4,288,000 € -2,179,000 € 2,816,722 € -1,429,316 € 1,409,000 € -220,024 € 4,032,733 € 1,867,246 € -9,170,042 € 409,524 € -516,488 € 94,064 € 1,808,435 € -491,696 € -1,091,993 € 5,477,684 € 3,747,516 € 2,620,590 € 1,016,052 € 1,633,823 €

Pre-Tax Income Change _ 78% 23% _ 194% 57% -60% -80% 3900% -33% 109% -16% 135% 7% 958% 14% -32% -36% -72% -21% 16% -68% _ 624% _ -55% 25% _ 8% 27% -72% _ 12% 38% 3% 51% _ -89% -49% _ -55% -44% 54% 10% 16% 214%

Since 1930, YIOTIS S.A. is producing, distributing and exporting top quality products in the following food segments: Baby foods Baking and Confectionary Cake Mixes Cooking mixes Dessert Kits Chocolate Drinks and Chocolates Ready-to-Eat Refrigerated Products Low Glycemic Index Desserts (Sweet& Balance product range) High Fibre Diet (Fytro product range) Bio Products (Bio-Organic product range) Yiotis S.A. applies a certified Quality Management System in line with the international standard ISO 9001:2015 and certified Food Safety Management System in line with the international standards ISO 22000:2005 and FSSC 22000:-v.4.1.

YIOTIS S.A., 130 Kifissou Ave. GR 121 31 Athens - Greece tel: +30 210 57 04 400, fax: +30 210 57 04 408, skype: yiotis.exports, email: exports@jotis.gr www.jotis.gr, www.sweetandbalance.gr www.fytro.com.gr, www.bio-organic.gr

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Company Name 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271

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NIKE RETAIL HELLAS LTD. ZOONOMI S.A. EVROFARMA S.A. AGRICULTURAL CORPORATE COLLABORATION S.A. AL.M.ME GEROLYMATOS INTERNATIONAL S.A. FRIGOGLASS S.A. ALUMINCO S.A. ALMI S.A. ARI S.S. PAPAIOANNOU S. ‘’ LAPIN HOUSE ‘’ S.A. EUROPA PROFIL ALUMINUM S.A. GLAROS S.A. ELBAK GREEK CANNING INDUSTRY S.A. KONVA S.A ANEZOULAKI BROS FIERATEX S.A. MEGAS YEEROS S.A. ΕΚΜΕ S.A.METALLURGICAL,TECHNICAL,INDUSTRIAL AND TRADING COMPANY KARAGEORGIOU, K., BROS “3 ALFA” S.A. KALAMARIKIS EMM. KALAS S.A. AGRINO PISTIOLAS S.A. VETA S.A. AKRITAS S.A. AGRIFREDA S.A. COOPER PHARMACEUTICALS S.A. MEGAPLAST S.A. PALAPLAST S.A. EXPRESS PUBLISHING S.A. FYTOENERGEIA S.A. KAPACHEM S.A. MITSOPOULOS FARM S.A. DAIOS PLASTICS S.A. PELOPONNESE WIND POWER S.A. SABO Α.Ε.

SOFIDEL GREECE S.A. VEPAL S.A. HELLENIC JUICES S.A. ALEXANDER LTD..

ROUSSAS S.A. KOUKAKIS FARM S.A. BIZIOS S.A. NIKOS GLEOUDIS KAVEX S.A. AIR LIQUIDE HELLAS S.A. DANAIS S.A. SIOURAS S.A.

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES Pre-Tax Income Change 604,468 € 29% 650,326 € 82% 353,000 € 9%

Turnover 2016

Turnover 2017

CLOTHING FOOD PRODUCTS FOOD PRODUCTS

27,887,891 € 27,811,409 € 27,633,000 €

31,821,309 € 26,991,996 € 29,026,000 €

14.10% -2.95% 5.04%

467,732 € 358,299 € 324,000 €

FOOD PRODUCTS

27,600,889 €

25,164,978 €

-8.83%

3,325 €

8,827 €

165%

PHARMACEUTICALS - DETERGENTS ELECTRICAL DEVICES METAL PRODUCTS FOOD PRODUCTS FOOD PRODUCTS CLOTHING METAL PRODUCTS PAPER FOOD PRODUCTS FOOD PRODUCTS TEXTILES FOOD PRODUCTS

27,534,000 € 27,404,000 € 27,396,845 € 27,253,272 € 27,164,756 € 27,094,519 € 27,067,693 € 27,009,030 € 26,811,002 € 26,499,785 € 26,449,919 € 26,430,887 €

29,636,000 € 7.63% 1,818,000 € 2,502,000 € 26,007,000 € -5.10% -22,054,000 € -47,087,000 € 29,875,868 € 9.05% -556,243 € -1,216,682 € 30,007,635 € 10.11% 10,725 € -322,232 € 29,465,074 € 8.47% 2,042,168 € 2,137,002 € 27,399,979 € 1.13% 92,949 € 132,701 € 23,662,588 € -12.58% 1,607,390 € 1,159,781 € 31,684,342 € 17.31% 8,201,397 € 6,415,482 € 25,501,040 € -4.89% -2,367,661 € -701,563 € 28,081,475 € 5.97% 257,148 € 1,739,584 € 29,890,753 € 13.01% -1,458,292 € -847,102 € 27,786,192 € 5.13% 2,035,447 € 1,722,295 €

38% 114% 119% _ 5% 43% -28% -22% -70% 576% -42% -15%

MACHINES - DEVICES

26,334,041 €

25,006,697 €

-5.04%

23,831 €

1,134,436 €

4660%

FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS MACHINES - DEVICES WOOD PRODUCTS FOOD PRODUCTS PHARMACEUTICALS - DETERGENTS PLASTICS - RUBBER PLASTICS - RUBBER PUBLICATIONS - PRINTING CHEMICAL PRODUCTS CHEMICAL PRODUCTS FOOD PRODUCTS PLASTICS - RUBBER ENERGY MISCELLANEOUS PRODUCTS PAPER METALLIC PRODUCTS BEVERAGES - SPIRITS FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS TOBACCO PRODUCTS CHEMICAL PRODUCTS FOOD PRODUCTS FOOD PRODUCTS

26,193,195 € 26,192,000 € 26,135,988 € 25,951,724 € 25,895,841 € 25,886,879 € 25,803,921 € 25,735,362 € 25,730,098 € 25,677,824 € 25,565,159 € 25,267,274 € 25,222,356 € 25,195,440 € 25,111,379 € 24,957,145 € 24,817,608 € 24,730,466 € 24,672,112 € 24,390,020 € 24,141,201 € 24,000,074 € 23,967,392 € 23,921,044 € 23,723,875 € 23,660,482 € 23,204,238 €

25,825,409 € -1.40% 26,270,000 € 0.30% 27,382,297 € 4.77% 27,172,529 € 4.70% 30,544,301 € 17.95% 32,752,941 € 26.52% 28,096,368 € 8.88% 29,417,151 € 14.31% 27,332,934 € 6.23% 24,123,351 € -6.05% 23,201,581 € -9.25% 29,297,164 € 15.95% 26,527,412 € 5.17% 25,837,650 € 2.55% 25,233,295 € 0.49% 24,442,068 € -2.06% 24,588,900 € -0.92% 25,288,648 € 2.26% 25,720,770 € 4.25% 29,624,670 € 21.46% 26,828,181 € 11.13% 25,873,689 € 7.81% 28,412,331 € 18.55% 32,939,735 € 37.70% 22,562,324 € -4.90% 24,187,149 € 2.23% 26,849,174 € 15.71%

1,830,098 € -799,000 € -1,584,805 € -139,725 € -8,439,008 € 3,509,624 € 6,773,885 € 3,774,979 € 2,861,992 € 3,689,723 € 2,925,172 € 1,107,045 € 1,012,480 € 1,178,360 € 10,774,387 € 904,335 € 1,165,748 € 3,299,936 € 4,695,779 € 502,786 € 442,868 € 2,368,463 € 391,697 € 2,882,880 € -2,133,528 € 3,378,931 € -211,747 €

1,507,471 € -248,000 € -86,167 € -436,890 € -5,556,346 € 5,737,658 € 7,496,442 € 6,003,668 € 2,244,469 € 2,649,874 € 3,993,763 € 2,011,174 € 467,207 € 1,666,850 € 10,964,720 € 453,056 € 1,107,759 € 2,936,134 € 4,025,382 € 946,836 € 973,980 € 2,223,751 € 10,434 € 2,916,234 € -735,366 € 4,789,873 € -273,249 €

-18% -69% -95% 213% -34% 63% 11% 59% -22% -28% 37% 82% -54% 41% 2% -50% -5% -11% -14% 88% 120% -6% -97% 1% -66% 42% 29%

Sector

Turnover Pre-Tax Pre-Tax Change Income 2016 Income 2017

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Company Name 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316

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S. & E. & A. METAXA S.A. APPLIANCES RECYCLING S.A. KREKA S.A. VIS SA FORKYS FISHING FARM S.A. NORTHERN GREECE CERAMICS S.A. PROTO THEMA S.A. SIDMETAL S.A. KALAVRITA COOP CHALKIDIKI FLOUR MILLS S.A. ALTERRA S.A. STERGIOU FAMILY S.A. MABIZ S.A. ELDON’S S.A. ERLIKON WIRE PROCESSING S.A. PAKO AN. VL. KOLIOPOULOS S.A. OMEGA S.A. ATTICA PUBLICATIONS S.A. MOURIKIS FOTIOS ANAST. S.A. VIORYL S.A. EUROFILM MANTZARIS S.A. CHATZIGEORGIOU S.A. ELIN S.A. INTERMED PHARMACEUTICAL LABORATORIES, TSETI I. & ΕIR. S.A. SMURFIT KAPPA HELLAS ΑΕ HELLAFARM S.A. ASTIR VITOGIANNIS BROS S.A. HOTOS S.A. ASOPOS MILLS S.A. THEON SENSORS S.A. ΖΙΚΟ 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. GOLDEN EGGS S.A. IONIKI SFOLIATA S.A HELESI S.A. MACEDONIA-THRACE BREWERY S.A. SKLAVOS S. S.A. GREEK FAMILY FARM S.A. APOLLONION S.A.

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES Turnover 2016

Turnover 2017

Turnover Pre-Tax Pre-Tax Change Income 2016 Income 2017

BEVERAGES - SPIRITS MISCELLANEOUS PRODUCTS FOOD PRODUCTS PAPER FOOD PRODUCTS NON MINERAL NEWSPAPERS - MAGAZINES METAL PRODUCTS FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS ΠΕΤΡΕΛΑΙΑ METAL PRODUCTS PAPER FOOD PRODUCTS NEWSPAPERS - MAGAZINES WOOD PRODUCTS CHEMICAL PRODUCTS PLASTICS - RUBBER FOOD PRODUCTS PETROLEUM PRODUCTS

23,091,941 € 22,937,386 € 22,925,750 € 22,853,756 € 22,780,126 € 22,777,567 € 22,744,011 € 22,727,731 € 22,521,367 € 22,457,912 € 22,371,929 € 22,318,053 € 22,105,489 € 21,848,215 € 21,679,187 € 21,340,535 € 21,254,032 € 21,226,222 € 21,194,675 € 20,836,991 € 20,709,544 € 20,546,881 € 20,524,088 €

24,008,364 € 23,968,369 € 24,284,454 € 20,060,449 € 20,414,782 € 24,005,446 € 19,560,257 € 28,653,432 € 26,257,360 € 18,230,330 € 20,542,793 € 25,014,481 € 25,969,696 € 23,572,909 € 32,203,694 € 21,723,001 € 21,165,020 € 22,073,641 € 21,074,986 € 21,568,362 € 22,826,459 € 20,194,798 € 19,900,221 €

3.97% 4.50% 5.93% -12.22% -10.38% 5.39% -14.00% 26.07% 16.59% -18.82% -8.18% 12.08% 17.48% 7.89% 48.55% 1.79% -0.42% 3.99% -0.57% 3.51% 10.22% -1.71% -3.04%

3,311,412 € -552,701 € -4,469,153 € 349,535 € 177,990 € 2,124,610 € 314,238 € 715,114 € 1,655,528 € 264,207 € -5,703,428 € 2,618,215 € 3,990,246 € 704,106 € -508,107 € 18,329 € 60,610 € 350,115 € 1,049,370 € 1,862,185 € 552,080 € -1,140,660 € 1,397,801 €

3,318,416 € -79,763 € -6,561,147 € -1,105,137 € -188,956 € 3,092,764 € -696,178 € 946,315 € 2,285,431 € -168,478 € -557,429 € 3,270,354 € 4,450,794 € 1,650,766 € -1,301,501 € -1,503,793 € 99,077 € 863,369 € 1,148,563 € 1,615,430 € 641,520 € 1,834,026 € 457,387 €

Pre-Tax Income Change 0% -86% 47% _ _ 46% _ 32% 38% _ -90% 25% 12% 134% 156% _ 63% 147% 9% -13% 16% _ -67%

PHARMACEUTICALS - DETERGENTS

20,452,338 €

22,848,302 €

11.72%

2,519,869 €

2,311,481 €

-8%

PAPER CHEMICAL PRODUCTS METAL PRODUCTS FOOD PRODUCTS FOOD PRODUCTS MISCELLANEOUS PRODUCTS CHEMICAL PRODUCTS FOOD PRODUCTS TEXTILES FURNITURE FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS MINES FOOD PRODUCTS FOOD PRODUCTS PLASTICS - RUBBER BEVERAGES - SPIRITS MACHINES - DEVICES AGRICULTURAL FOOD PRODUCTS

20,443,684 € 20,341,147 € 20,301,040 € 19,967,450 € 19,896,524 € 19,865,915 € 19,839,449 € 19,795,498 € 19,778,912 € 19,753,000 € 19,714,635 € 19,636,182 € 19,625,536 € 19,614,294 € 19,483,480 € 19,474,650 € 19,427,000 € 19,373,761 € 19,364,407 € 19,314,058 € 19,247,374 €

24,613,732 € 20.40% 22,595,971 € 11.09% 21,511,952 € 5.97% 21,836,436 € 9.36% 22,061,133 € 10.88% 22,123,499 € 11.36% 17,609,138 € -11.24% 16,005,065 € -19.15% 23,214,960 € 17.37% 22,819,000 € 15.52% 18,268,275 € -7.34% 20,279,336 € 3.28% 18,810,704 € -4.15% 19,210,007 € -2.06% 22,692,417 € 16.47% 20,020,055 € 2.80% 19,747,000 € 1.65% 20,534,345 € 5.99% 20,312,745 € 4.90% 19,459,703 € 0.75% 19,249,523 € 0.01%

1,203,134 € 359,187 € 4,322,174 € 2,470,548 € -491,820 € 2,316,942 € 2,412,912 € 296,917 € 550,974 € 110,000 € -1,677 € 234,484 € 41,240 € 2,482,492 € -1,602,690 € 1,920,629 € -5,391,000 € 2,403,617 € 927,053 € 119,725 € 30,170 €

915,635 € 1,006,167 € 4,388,249 € 2,861,011 € -626,050 € 2,670,343 € 1,956,091 € -1,058,089 € 647,628 € 1,149,000 € -40,644 € 1,403,811 € 151,121 € 917,600 € -2,510,183 € 881,517 € 43,000 € 1,926,175 € 2,699,226 € 955,424 € -21,305 €

-24% 180% 2% 16% 27% 15% -19% _ 18% 945% 2324% 499% 266% -63% 57% -54% _ -20% 191% 698% _

Sector

melco oil

iis I 107 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Company Name 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362

I 108 I

S. KARYDAKIS S.A. DISTILLERY- WINERY OF THRACE S.A. POLIECO S.A. KAVINO S.A. NENDOS SELECT S.A. VARVARESSOS S.A. EUROPEAN SPINNING MILLS OMIROS SA. VLACHOS BROS S.A. LARIPLAST - TSEREPA BROS S.A. TERRA CRETA S.A. GINNING COTTON MILLS OF LIVADEIA S.A. SHM HELLAS - PILION S.A. AMEKON S.A. VERIDOS MATSOUKIS S.A. EXARCHOS S.A. KAVALA OIL S.A. PAPAYIANNIS BROS GREEK HALVA PRODUCERS 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. IONIAN KALK S.A. N. CHRISTODOULOU BROS S.A. ALESIS S.A. VOCATE PHARMACEUTICALS S.A. FTHIOTIS PAPERMILL S.A. BITSAKOS AQUACULTURE S.A. BIRROS HELLENIC QUARRIES SA BELAS FILOTAS & SON S.A. KAOUSSIS S.A. MARRAS BROS MILLS S.A. NEOGAL S.A. MELINDA L.T.D..

E. MALAMATINAS & SON S.A. NOE CONSTRUCTIONS S.A. DOPPLER S.A. DUROSTICK S.A. HAIDEMENOS S.A. KALOGIANNIS- KOUTSIKOS DISTILLERY S.A. PIPELIFE HELLAS .S.A SILCIO S.A. ANFARM HELLAS S.A. VECHRO S.A. K. SARANTOPOULOS MILLS S.A.

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES Sector PRINTING BEVERAGES - SPIRITS MISCELLANEOUS PRODUCTS BEVERAGES - SPIRITS FOOD PRODUCTS TEXTILES FOOD PRODUCTS MISCELLANEOUS PRODUCTS PLASTICS - RUBBER FOOD PRODUCTS TEXTILES FOOD PRODUCTS METAL PRODUCTS PUBLICATIONS - PRINTING FOOD PRODUCTS ΠΕΤΡΕΛΑΙΑ FOOD PRODUCTS FOOD PRODUCTS PHARMACEUTICALS - DETERGENTS FOOD PRODUCTS FOOD PRODUCTS PHARMACEUTICALS - DETERGENTS FOOD PRODUCTS NON MINERAL BEVERAGES - SPIRITS FOOD PRODUCTS PHARMACEUTICALS - DETERGENTS PAPER FOOD PRODUCTS NON MINERAL FOOD PRODUCTS TRANSPORTATION MEANS FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS BEVERAGES - SPIRITS METAL PRODUCTS MACHINES - DEVICES CHEMICAL PRODUCTS PUBLICATIONS - PRINTING BEVERAGES - SPIRITS PLASTICS - RUBBER ELECTRICAL SUPPLIES PHARMACEUTICALS - DETERGENTS CHEMICAL PRODUCTS FOOD PRODUCTS

Turnover 2016

Turnover 2017

Turnover Pre-Tax Pre-Tax Change Income 2016 Income 2017

19,150,304 € 19,134,075 € 19,044,131 € 19,036,000 € 18,990,138 € 18,971,182 € 18,922,818 € 18,900,527 € 18,796,556 € 18,721,044 € 18,690,938 € 18,687,002 € 18,638,433 € 18,627,566 € 18,535,683 € 18,535,388 € 18,498,294 € 18,353,670 € 18,198,336 € 18,071,638 € 18,068,598 € 18,032,127 € 18,007,618 € 17,921,850 € 17,809,251 € 17,808,000 € 17,709,733 € 17,649,000 € 17,564,344 € 17,413,197 € 17,335,112 € 17,313,839 € 17,305,829 € 17,231,191 € 17,218,518 € 17,180,316 € 17,118,475 € 17,078,768 € 17,060,638 € 17,057,806 € 17,056,551 € 16,931,329 € 16,873,552 € 16,832,998 € 16,831,170 € 16,809,537 €

19,836,181 € 19,578,006 € 19,692,278 € 20,691,000 € 19,550,071 € 19,350,355 € 22,109,438 € 19,605,964 € 18,811,870 € 20,408,105 € 28,252,694 € 27,693,579 € 16,670,088 € 17,572,285 € 20,741,784 € 19,957,154 € 19,717,796 € 19,901,483 € 15,610,830 € 18,684,893 € 19,153,104 € 20,775,451 € 18,234,701 € 16,327,972 € 18,361,059 € 17,998,000 € 17,949,176 € 18,611,000 € 16,482,395 € 27,343,303 € 18,668,999 € 26,574,809 € 16,058,653 € 15,581,044 € 18,613,535 € 14,448,793 € 12,037,960 € 16,693,738 € 17,315,104 € 18,810,239 € 15,055,107 € 13,371,350 € 28,254,383 € 19,254,314 € 17,117,869 € 18,241,247 €

3.58% 2.32% 3.40% 8.69% 2.95% 2.00% 16.84% 3.73% 0.08% 9.01% 51.16% 48.20% -10.56% -5.67% 11.90% 7.67% 6.59% 8.43% -14.22% 3.39% 6.00% 15.21% 1.26% -8.89% 3.10% 1.07% 1.35% 5.45% -6.16% 57.03% 7.70% 53.49% -7.21% -9.58% 8.10% -15.90% -29.68% -2.25% 1.49% 10.27% -11.73% -21.03% 67.45% 14.38% 1.70% 8.52%

4,846,013 € 910,757 € 3,845,969 € 1,193,000 € 4,462,865 € -1,962,974 € 780,742 € 981,553 € 2,556,467 € 737,598 € 49,977 € 718,309 € -291,387 € 90,866 € 1,014,570 € -1,406,019 € 2,633,966 € 165,107 € -4,610,475 € -416,682 € 95,283 € 119,727 € 531,551 € 1,242,663 € 1,210,925 € 343,000 € 2,444,377 € 1,911,000 € 2,584,690 € 4,435,583 € -423,366 € 367,877 € 206,202 € 695,917 € 883,947 € -764,299 € 156,619 € -38,016 € 8,509 € -1,793,882 € 9,567,359 € -1,004,884 € -223,138 € 1,813,984 € 952,124 € -133,059 €

4,126,305 € 1,218,588 € 4,945,685 € 1,083,000 € 3,672,295 € -1,880,686 € 1,346,835 € 898,312 € 2,725,018 € 962,902 € 352,138 € 1,043,676 € -78,551 € 381,048 € 1,484,125 € -6,266,384 € 2,896,899 € 193,907 € -1,241,454 € -275,699 € 171,698 € 538,567 € 551,337 € 964,657 € 979,163 € 942,000 € 1,691,973 € 1,580,000 € 452,321 € 8,657,779 € 283,410 € 1,063,894 € 245,484 € 1,413,670 € 986,740 € -1,616,164 € -50,653 € -329,648 € -565,506 € -1,183,582 € 7,841,764 € -1,568,118 € 5,458,916 € 1,855,412 € 313,064 € -113,552 €

Pre-Tax Income Change -15% 34% 29% -9% -18% -4% 73% -8% 7% 31% 605% 45% -73% 319% 46% 346% 10% 17% -73% -34% 80% 350% 4% -22% -19% 175% -31% -17% -83% 95% _ 189% 19% 103% 12% 111% _ 767% _ -34% -18% 56% _ 2% -67% -15%

I 109 I

CREATIVE GREECE 2019

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES

LEADERS IN EXTROVERSION

Turnover 2016

Turnover 2017

FOOD PRODUCTS PAPER NON MINERAL AGRICULTURAL ENTERPRISES ENERGY FOOD PRODUCTS TEXTILES METAL PRODUCTS FOOD PRODUCTS

16,660,079 € 16,657,106 € 16,638,331 € 16,588,476 € 16,439,760 € 16,430,335 € 16,326,274 € 16,322,000 € 16,231,661 €

17,851,743 € 7.15% 17,449,268 € 4.76% 26,140,710 € 57.11% 17,672,833 € 6.54% 16,473,941 € 0.21% 14,659,575 € -10.78% 20,489,923 € 25.50% 19,432,000 € 19.05% 11,698,036 € -27.93%

2,489,014 € 812,606 € 3,946,602 € 2,883,595 € 3,777,580 € 465,012 € 385,899 € 1,692,000 € 475,849 €

2,025,815 € 517,311 € 11,850,441 € 3,536,887 € 4,879,959 € -107,407 € 1,205,150 € 2,674,000 € -83,456 €

Pre-Tax Income Change -19% -36% 200% 23% 29% _ 212% 58% _

TEXTILES

16,171,527 €

17,556,223 €

8.56%

-6,602,281 €

4,530,320 €

_

FOOD PRODUCTS METAL PRODUCTS METAL PRODUCTS CHEMICAL PRODUCTS NON MINERAL ELECTRICAL DEVICES PLASTICS - RUBBER FOOD PRODUCTS PLASTICS - RUBBER TEXTILES PAPER AGRICULTURAL ENTERPRISES FOOD PRODUCTS PHARMACEUTICALS - DETERGENTS FOOD PRODUCTS PAPER METAL PRODUCTS ELECTRICAL SUPPLIES FOOD PRODUCTS AGRICULTURAL FOOD PRODUCTS FOOD PRODUCTS PAPER FOOD PRODUCTS METAL PRODUCTS FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS NON MINERAL PLASTICS - RUBBER PAPER PUBLICATIONS - PRINTING TEXTILES CLOTHING

16,128,585 € 15,792,099 € 15,782,896 € 15,765,012 € 15,714,603 € 15,667,745 € 15,558,000 € 15,552,450 € 15,386,960 € 15,321,021 € 15,247,340 € 15,237,434 € 15,237,076 € 15,095,466 € 15,044,503 € 14,855,194 € 14,840,741 € 14,834,513 € 14,803,132 € 14,749,660 € 14,731,618 € 14,570,082 € 14,523,024 € 14,438,723 € 14,437,096 € 14,436,240 € 14,357,601 € 14,184,370 € 14,167,512 € 14,073,710 € 14,057,650 € 14,054,902 € 14,002,879 € 13,859,553 € 13,677,000 €

16,023,635 € 14,315,005 € 20,535,380 € 17,402,034 € 17,892,414 € 16,936,810 € 15,540,000 € 12,602,789 € 15,943,231 € 22,477,903 € 15,691,910 € 16,724,919 € 18,954,247 € 16,006,352 € 16,358,367 € 15,277,095 € 14,675,088 € 12,408,296 € 15,363,164 € 17,749,660 € 13,133,522 € 13,992,911 € 13,963,443 € 13,711,771 € 14,456,363 € 16,469,390 € 12,925,259 € 15,340,385 € 14,205,272 € 15,781,444 € 13,907,595 € 13,439,070 € 13,616,602 € 13,971,965 € 13,740,000 €

-0.65% -9.35% 30.11% 10.38% 13.86% 8.10% -0.12% -18.97% 3.62% 46.71% 2.92% 9.76% 24.40% 6.03% 8.73% 2.84% -1.12% -16.36% 3.78% 20.34% -10.85% -3.96% -3.85% -5.04% 0.13% 14.08% -9.98% 8.15% 0.27% 12.13% -1.07% -4.38% -2.76% 0.81% 0.46%

974,128 € -371,497 € 1,409,868 € 2,971,289 € 6,212,226 € 2,868,129 € 5,851,000 € -973,863 € 2,500,047 € 7,386 € 1,931,460 € 1,393,685 € 57,533 € 615,264 € 611,604 € 186,446 € 2,459,056 € 1,143,386 € 255,280 € 49,830 € 137,738 € 1,299,652 € -145,547 € 2,047,306 € 122,293 € 638,374 € 275,271 € 60,627 € -476,074 € 1,816,268 € 310,038 € 479,728 € 2,314,085 € 1,885,281 € -600,000 €

986,047 € 272,544 € 1,356,256 € 2,656,232 € 7,193,274 € 3,069,468 € 5,612,000 € -844,883 € 2,250,837 € 13,058 € 2,015,800 € 1,430,066 € 106,164 € 998,570 € 463,443 € 195,023 € 1,923,108 € 1,943,588 € -182,918 € 56,242 € -414,180 € 1,098,360 € -136,071 € 1,133,522 € 179,389 € 407,807 € -17,533 € 51,647 € 38,013 € 1,588,196 € 285,423 € -3,344,775 € 1,732,024 € 1,655,596 € 74,000 €

1% _ -4% -11% 16% 7% -4% -13% -10% 77% 4% 3% 85% 62% -24% 5% -22% 70% _ 13% _ -15% -7% -45% 47% -36% _ -15% _ -13% -8% _ -25% -12% _

Company Name 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 390 391 392 393 394 395 396 397 398 399 400 401 402 403 404 405 406 407

I 110 I

SEFCO ZEELANDIA S.A. SONOCO HELLAS S.A. MERMEREN KOMBINAT AD PRILEP WONDERPLANT S.A. BEAL S.A. NIKOLOPOULOI BROS FARM S.A. IMATHIAS COTTON GINING S.A. KLEFER S.A. ROSSANA FRUITS LTD ΑΓΡ. ΣΥΝΕΤ. ΜΕΤΑΠ. & ΕΜΠΟΡ. ΑΓΡ. ΠΡ. ΤΡΙΚΑΛΩΝ “ΕΝΩΣΗ” ΖΩΟΤΡΟΦΕΣ ΚΡΗΤΗΣ Α.Β.Ε.Ε.

PIPEWORKS L. TZIRAKIAN PROFIL S.A. TH. MAKRIS METALLEMPORIKI S.A. NEOKEM S.A. SMIRDEX S.A. OLYMPIA ELECTRONICS S.A. DIAXON S.A. DELFI S.A. KOTRONIS PLASTICS S.A. PAGGAEA S.A. PAPERPACK – TSOUKARIDIS S.A. EVOL - EAS VOLOU POULTRY FARM NAYPAKTOS S.A. PETSIAVAS S.A. VIOZOIS S.A TOTTIS PACK S.A. LEFKOSIDIROURGIA KAVALAS S.A. UNIFY COMMUNICATIONS S.A. LAKONIKI FOODS S.A. NOVA GREEN S.A. DAVOUTIS Ι. S.A. NIKZAS MILK INDUSTRY S.A. SOULIS S.A. HELLINIKOS FOURNOS S.A. HELLENIC WIRE COMPANY S.A. TYROKOMIKI AMFILOCHIAS BOUTSOLI S.A. AGRIS S.A. BELLE MEAT LTD AGROFRUT HELLAS VASSILIS PANTAZIS S.A. NORDIA S.A. FASO PLAST S.A. MONDI PACKAGING THESSALONIKI S.A. PSICHOGIOS PUBLICATIONS S.A. KATRADIS MARINE ROPES S.A. MINERVA BROS I. & V. LADENIS S.A.

Sector

Turnover Pre-Tax Pre-Tax Change Income 2016 Income 2017

ΜΕΛΟΣ ΤΟΥ GROUP ΤΗΣ

I 111 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Company Name 408 409 410 411 412 413 414 415 416 417 418 419 420 421 422 423 424 425 426 427 428 429 430 431 432 433 434 435 436 437 438 439 440 441 442 443 444 445 446 447 448 449 450 451 452 453

I 112 I

LAVIPHARM HELLAS S.A. OSCAR S.A. ANATRON S.A. CHROTEX S.A. TSATSOULI BROS ROYAL S.A. METPLAST S.A. NEF - NEF S.A. GREEN COLA HELLAS S.A. GAEA FOODS S.A. ADAM PACK S.A. PANCHART S.A. MICH. I. STAGAKIS SA NANOS S.A. PROVERTIA S.A. TOI & MOI S.A. OMIROS DIARIES S.A. OLYMPIA - XENIA ASA IDEAL STANDARD S.A. BENNETT PHARMACEUTICALS S.A. NEOS ALIAKMON ARMOS PROKAT S.A. GRANTEX S.A. PIERIKI PAPER S.A. VERNILAC S.A. VIOZOKAT S.A. INDROFEX LTD GIANNIS S.A. HELLENIC FINE OILS NUTISSIMO S.A. PATAKIS S. S.A. KLONARIDIS CH. S.A. CERAMETAL S.E. S.A. ARNAOUTELIS S.A. I.B.S. S.A. VEMEKEP S.A. AMALTHIA S.A. SDOUKOS S.A. DAMAVANT S.A. METRON S.A. BAG AND BAG S.A. ALEXAKIS - PITTES S.A. THERMOPLASTIKI S.A. SAKOS LTD ESCARCOM S.A. PLOMARI OUZO DISTILLERY ISIDOROS ARVANITIS S.A. POTPAN S.A.

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES Sector PHARMACEUTICALS - DETERGENTS FOOD PRODUCTS FOOD PRODUCTS CHEMICAL PRODUCTS FOOD PRODUCTS METAL PRODUCTS CLOTHING BEVERAGES - SPIRITS FOOD PRODUCTS PAPER PLASTICS - RUBBER NON MINERAL FOOD PRODUCTS FOOD PRODUCTS CLOTHING FOOD PRODUCTS FOOD PRODUCTS NON MINERAL PHARMACEUTICALS - DETERGENTS AGRICULTURAL NON MINERAL TRANSPORTATION MEANS PAPER CHEMICAL PRODUCTS FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS PUBLICATIONS - PRINTING TEXTILES METAL PRODUCTS FOOD PRODUCTS PLASTICS - RUBBER MACHINES - DEVICES FOOD PRODUCTS FOOD PRODUCTS FOOD PRODUCTS METAL PRODUCTS PLASTICS - RUBBER FOOD PRODUCTS WOOD PRODUCTS PLASTICS - RUBBER FOOD PRODUCTS BEVERAGES - SPIRITS FOOD PRODUCTS

Turnover 2016

Turnover 2017

Turnover Pre-Tax Pre-Tax Change Income 2016 Income 2017

13,649,000 € 13,645,558 € 13,621,955 € 13,588,304 € 13,570,460 € 13,557,287 € 13,478,216 € 13,435,291 € 13,391,045 € 13,360,959 € 13,351,716 € 13,338,779 € 13,325,106 € 13,313,925 € 13,263,895 € 13,090,868 € 13,073,267 € 13,056,189 € 13,050,987 € 13,019,988 € 12,989,836 € 12,978,556 € 12,934,936 € 12,924,111 € 12,893,450 € 12,876,882 € 12,848,503 € 12,825,211 € 12,766,382 € 12,573,235 € 12,534,000 € 12,515,488 € 12,509,303 € 12,397,494 € 12,344,493 € 12,338,289 € 12,333,255 € 12,332,649 € 12,328,179 € 12,287,538 € 12,283,138 € 12,205,455 € 12,198,380 € 12,165,447 € 12,063,767 € 12,013,622 €

14,017,000 € 2.70% 14,000,117 € 2.60% 14,911,738 € 9.47% 12,875,227 € -5.25% 12,979,233 € -4.36% 18,450,549 € 36.09% 15,857,203 € 17.65% 12,965,711 € -3.50% 15,169,236 € 13.28% 13,087,368 € -2.05% 15,358,078 € 15.03% 12,176,843 € -8.71% 12,988,894 € -2.52% 14,607,188 € 9.71% 14,318,469 € 7.95% 14,810,463 € 13.14% 15,689,935 € 20.02% 14,700,022 € 12.59% 13,949,893 € 6.89% 11,918,939 € -8.46% 17,580,886 € 35.34% 13,114,637 € 1.05% 11,588,759 € -10.41% 14,206,656 € 9.92% 13,160,075 € 2.07% 14,279,491 € 10.89% 15,221,071 € 18.47% 15,614,194 € 21.75% 11,484,355 € -10.04% 12,573,039 € -0.00% 15,456,000 € 23.31% 11,838,089 € -5.41% 14,031,787 € 12.17% 12,636,300 € 1.93% 14,609,158 € 18.35% 14,655,611 € 18.78% 13,121,070 € 6.39% 14,861,995 € 20.51% 15,246,088 € 23.67% 11,545,272 € -6.04% 12,751,396 € 3.81% 11,807,806 € -3.26% 12,801,615 € 4.95% 12,559,615 € 3.24% 12,685,462 € 5.15% 13,208,828 € 9.95%

-3,638,000 € 90,591 € 27,345 € 17,679 € 780,905 € -76,897 € 1,330,830 € -1,221,797 € 171,322 € 524,636 € 420,594 € 555,389 € 693,537 € 164,096 € -120,279 € 1,013,514 € 409,142 € 802,210 € -1,449,850 € 252,863 € 469,178 € 962,847 € 451,311 € 1,760,674 € 974,368 € 2,373,404 € 1,900,754 € 291,085 € 246,380 € 841,389 € 95,000 € 1,237,450 € -832,726 € 549,069 € 160,100 € 821,552 € 142,329 € 859,371 € 576,973 € 213,321 € 1,067,143 € -479,387 € 1,065,918 € 282,109 € 366,406 € 758,321 €

-1,226,000 € 109,847 € 127,603 € -148,334 € 463,981 € 866,794 € 1,211,196 € -2,468,310 € -1,757,171 € -1,186,617 € 580,106 € 566,420 € 494,285 € 144,503 € 84,385 € 721,275 € -270,500 € 429,763 € -1,130,548 € 250,535 € 812,602 € 852,021 € 198,657 € 1,626,052 € 601,631 € 2,304,804 € 3,359,817 € -497,562 € 110,314 € 962,952 € 8,000 € 1,067,681 € 27,403 € 1,339,580 € 172,905 € 1,597,214 € -200,581 € 310,424 € 541,780 € 770,588 € 1,105,028 € -499,177 € 958,324 € 407,013 € 734,798 € 589,653 €

Pre-Tax Income Change -66% 21% 367% _ -41% _ -9% 102% _ _ 38% 2% -29% -12% _ -29% _ -46% -22% -1% 73% -12% -56% -8% -38% -3% 77% _ -55% 14% -92% -14% _ 144% 8% 94% _ -64% -6% 261% 4% 4% -10% 44% 101% -22%

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Company Name 454 455 456 457 458 459 460 461 462 463 464 465 466 467 468 469 470 471 472 473 474 475 476 477 478 479 480 481 482 483 484 485 486 487 488 489 490 491 492 493 494 495 496 497 498 499

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E. PAIRIS S.A. M.E.TE. S.A. KOLORA S.A. RODOULA S.A. EURICOM HELLAS S.A. BETTINA S.A. SIAMIDIS K. S.A. SPIROU S.A. A.VI.GAL S.A. TSABASIS S.A. CARTONTEC S.A. BIOZOEL S.A. FAETHON S.A. FRAGKOS S.A. STAMOU S.A. VOTOMOS S.A. FARMA CHEM S.A. MAPEI HELLAS S.A. EL SABOR MEXICAN FOODS S.A. ALOUETTE S.A. PAVLIDES COTTON GIN S.A. BAKER MASTER A.B.E.E. NERA KRITIS S.A. BIKRE - THEMISTOKLES CHATZIGAVRIILIDIS SA IASIS PHARMACEUTICALS HELLAS S.A. EL.V.IZ. S.A. MATRIX PACK S.A. DISTROCHICK S.A. THRAKON S.A. IMERIDIS - MAKROPOULOS ‘’MILKPLAN’’ S.A. G & P COTTON GIN S.A. INTERPLAST S.A. AEIFOROS S.A. PYTHAGORAS SAMARAS S.A. LAVA MINING & QUARRYING CO. S.A. BOSMAN MINK FARM S.A. EMV S.A. DEKON S.A. VIOLANTA S.A. RAVAGO CHEMICALS HELLAS ΑΒΕΕ SIRMA S.A. LYKOMITROS STEEL S.A. SELMAN S.A. HELLENIC DEFENSE SYSTEMS S.A. ΤΑΝΚΟ PETFOOD S.A. SOFMAN S.A.

THE COUNTRY'S MAJOR INDUSTRIAL BUSINESSES Sector PLASTICS - RUBBER MINES TEXTILES FOOD PRODUCTS FOOD PRODUCTS GINNING CLOTHING AGRICULTURAL FOOD PRODUCTS FOOD PRODUCTS PAPER FOOD PRODUCTS FOOD PRODUCTS CLOTHING FOOD PRODUCTS BEVERAGES - SPIRITS CHEMICAL PRODUCTS CHEMICAL PRODUCTS FOOD PRODUCTS CLOTHING TEXTILES FOOD PRODUCTS BEVERAGES - SPIRITS FOOD PRODUCTS PHARMACEUTICALS - DETERGENTS FOOD PRODUCTS PLASTICS - RUBBER FOOD PRODUCTS METAL PRODUCTS AGRICULTURAL ENTERPRISES TEXTILES PLASTICS - RUBBER METAL PRODUCTS MINES MINES LEATHER - FUR ENERGY TRANSPORTATION MEANS FOOD PRODUCTS CHEMICAL PRODUCTS METAL PRODUCTS METAL PRODUCTS TRANSPORTATION MEANS METAL PRODUCTS FOOD PRODUCTS METAL PRODUCTS

Turnover 2016

Turnover 2017

Turnover Pre-Tax Pre-Tax Change Income 2016 Income 2017

11,974,908 € 11,954,153 € 11,915,821 € 11,748,726 € 11,526,209 € 11,521,043 € 11,472,016 € 11,458,871 € 11,329,530 € 11,319,681 € 11,305,948 € 11,259,476 € 11,120,279 € 11,056,127 € 11,046,026 € 11,006,498 € 11,002,684 € 10,971,562 € 10,939,246 € 10,928,474 € 10,925,084 € 10,905,581 € 10,878,501 € 10,810,726 € 10,697,390 € 10,688,660 € 10,679,041 € 10,674,548 € 10,607,572 € 10,443,241 € 10,428,941 € 10,413,885 € 10,315,429 € 10,283,068 € 10,134,000 € 9,972,351 € 9,855,956 € 9,800,791 € 9,065,433 € 8,712,631 € 8,532,386 € 8,456,634 € 8,374,361 € 8,236,697 € 7,499,325 € 6,825,125 €

11,536,309 € 14,240,873 € 11,258,236 € 14,419,337 € 14,493,665 € 11,815,342 € 11,484,122 € 11,725,786 € 11,603,516 € 11,647,362 € 12,135,508 € 13,682,777 € 12,274,363 € 11,438,616 € 12,248,428 € 11,757,861 € 11,558,286 € 14,150,155 € 12,645,087 € 11,791,833 € 14,852,352 € 12,982,252 € 11,403,423 € 12,009,549 € 11,590,657 € 12,361,766 € 11,340,537 € 15,886,629 € 13,243,668 € 12,162,141 € 17,087,744 € 11,873,466 € 12,812,999 € 12,408,917 € 11,598,000 € 12,097,537 € 11,885,331 € 12,653,511 € 12,222,211 € 11,816,416 € 11,325,468 € 13,641,274 € 21,149,973 € 17,199,786 € 11,444,191 € 11,902,536 €

-3.66% 19.13% -5.52% 22.73% 25.75% 2.55% 0.11% 2.33% 2.42% 2.90% 7.34% 21.52% 10.38% 3.46% 10.89% 6.83% 5.05% 28.97% 15.59% 7.90% 35.95% 19.04% 4.83% 11.09% 8.35% 15.65% 6.19% 48.83% 24.85% 16.46% 63.85% 14.02% 24.21% 20.67% 14.45% 21.31% 20.59% 29.11% 34.82% 35.62% 32.74% 61.31% 152.56% 108.82% 52.60% 74.39%

102,285 € -1,626,831 € 1,002,899 € 1,716,053 € 2,014,421 € 1,267,900 € -128,918 € 453,828 € -283,451 € -134,330 € 340,347 € 366,974 € 530,236 € 538,868 € -5,396,302 € -1,396,850 € 530,124 € 632,837 € 2,490,604 € 2,449,671 € 1,470,242 € 1,382,128 € 125,438 € 198,301 € 303,447 € 213,219 € -226,235 € 32,833 € 771,918 € 1,086,634 € 81,961 € 15,415 € 730,691 € 1,265,715 € -650,954 € -85,524 € 1,042,415 € 1,212,520 € 12,766 € 299,066 € -94,679 € 741,713 € 172,964 € 392,051 € 1,545,676 € 1,701,832 € 236,193 € 270,678 € 61,126 € 58,634 € -23,125 € 227,845 € -437,625 € -292,663 € -65,545 € 53,830 € -256,808 € 41,523 € 1,006,312 € 813,053 € 86,478 € 589,792 € 485,480 € 371,475 € 584,733 € 974,268 € -713,017 € -436,248 € 2,096,000 € 4,588,000 € -2,328,945 € -2,129,618 € 2,568,317 € 4,069,026 € 73,241 € 57,138 € 1,595,110 € 1,938,032 € -93,304 € 413,119 € 239,788 € 496,247 € 618,635 € 1,882,580 € 2,225,191 € 8,122,271 € 21,519,912 € -59,511,041 € 632,576 € 1,371,302 € 363,019 € 1,293,707 €

Pre-Tax Income Change _ 71% -37% _ -53% 8% 2% -74% 19% -2% -6% 58% -30% _ 41% -81% 73% -87% 16% 2243% _ 127% 10% 15% -4% _ -33% _ _ -19% 582% -23% 67% -39% 119% -9% 58% -22% 21% _ 107% 204% 265% _ 117% 256%

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Greek exports in 2018 (Jan-Dec) Greek exports hit a new historical record in 2018, confirming the momentum the industry has gathered in recent years. In particular, according to an analysis of ELSTAT interim data by the Panhellenic Exporters Association (PSE) and the Center for Export Research and Studies (KEEM), exports, including petroleum products, rose by two-digit rates and broke the 30-billioneuro barrier to €33.02 billion, an increase of 15.8% compared to 2017, and to €21.55 billion excluding petroleum products, an increase of 10.4%.

Greece’s exports to the EU-28, including petroleum products, now account for 52.2% of the country’s total exports. In 2017, exports enjoyed a share of 53.1%. On the contrary, exports to Third Countries in 2018 rose and now hold a share 47.8% from 46.9% in the same period last year.

Italy continued to be Greece’s top export destination in 2018, while Germany retained its second place; Turkey and Cyprus also remained in 3rd and 4th place, respectively. Lebanon climbed one position in the relative ranking (5th), while Bulgaria retreated to 6th place (from 5th). The 7th and 8th places are taken by the United States and the United Kingdom, switching places from 2017. The two last places in the topten export destinations in 2018 were taken

by Egypt (9th place from 11th) and Spain (10th from 12th). In addition to the topten of the 2018 Greek exports customer countries, it is worth noting China’s ranking leap to 17th place from 13th, and Slovenia’s jump by ten positions to 20th place from 30th in 2017.

With regard to the destinations of Greek exports per economic union, in addition to the notable exports increase (14%) to the EU, shipments to the 19 countries of the Eurozone rose 16.2%, while exports to OECD countries climbed 14.3% and to G7 coun-

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tries were up by 12.9%. Further, exports to emerging BRICS nations increased by 64%; to OPEC countries exports increased by 18.2% and to the countries of the Black Sea Economic Cooperation (BSEC) rose 7.3%.

Eurasian Economic Union countries recorded a marginal decline -0.3%, while the low-value exports to MERCOSUR countries more than doubled.

Similarly, in terms of the makeup of exports by major product categories, the overall increase results from upward trends in all categories. In particular, exports of fuels rose 27.9%, followed by industrial products (+12.9%), agricultural products (+6.4%), raw materials (+6%) and low-value exports in the Non-Classified Goods & Transactions category (+3.7%).

Oil products in 2018 retained their lead as the country’s major export product, followed by medicines – jumping 30.9%, aluminum products and virgin olive oil (in 4th place from 9th in 2017). Seafood moved down to 5th place from 4th, while computing devices took 6th place as the category saw exports in 2018 skyrocket 63.5%. The top-ten of most exported Greek products includes frozen vegetables, pipes, confidential products and misc. cheeses (mainly feta cheese). Ως αποτέλεσμα των παραπάνω κινήσεων, το εμπορικό έλλειμμα ενισχύθηκε οριακά το 2018 κατά 117 εκατ. ευρώ ή κατά 0,6%, στα 20,73 δισ. ευρώ από 20,62 δισ. ευρώ το 2017. Χωρίς τα πετρελαιοειδή, το εμπορικό έλλειμμα μειώθηκε στα 16,21 δισ. ευρώ από 17 δισ. ευρώ, δηλαδή κατά 1,17 δισ. ευρώ, ή κατά -6,7%.

Imports in January - December 2018 rose by €4.63 billion or 9.4%, totaling €53.75 billion compared to €49.13 billion in 2017.

Excluding petroleum products, imports rose to €37.76 billion from €36.91 billion, or 2.3%.

As a result of the above developments, the trade deficit in 2018 was marginally up by €117 million or 0.6% to €20.73 billion, from €20.62 billion in 2017. Excluding petroleum products, the trade deficit dropped to €16.21 billion against €17 billion, or -6.7%.

Exports per geographic region and country For the second consecutive year, Greek exports in 2018 recorded high growth rates hitting a new historical record of +15.8%, to €33.02 billion from €28.51 billion In 2017.

The increase is attributed to upward trends in exports to all major customers of Greek products - both to the EU and to third countries. The increase of exports to the EU, as mentioned above, was 14%, while exports to Third Countries rose even more by 17.9%. Exports to EU countries now account for 52.2% of overall Greek exports, compared with 47.8% to third countries.

A. Greek exports to the European Union Exports to the EU in 2018 amounted to €17.25 billion from €15.14 billion in 2017.

The increase in exports by 16.2% (from €10.56 billion to € 12.27 million) to the Eurozone (19), which accounted for 37.2% of overall exports in the year under review, resulted an increase in Greek exports demand by all destinations in the Eurozone.

More specifically, the 11 major destinations within the Eurozone recorded positive performance, with some major changes: Exports to Italy – Greece’s most popular export destination – increased by 12.2% (from €3.06 to €3.43 billion); exports to Germany recorded a smaller increase of 4.8% (from €2.02 billion to €2.12 billion), while a small increase of 1.3% was recorded by Cyprus (from €1.73 billion to €1.75 billion).

Further, Spain recorded a jump in taking in

Greek exports by 58% (from €695.8 million to €1.1 billion), while France was up 31.4% (from €765.9 million to €1.01 billion), and the Netherlands rose 6.5% (from € 617.4 million to € 657.7 million). In the 7th place on the list, exports to Slovenia in 2018 more than doubled from € 198.4 million to € 426.7 million.

The list of the main markets for Greek products in Eurozone member countries includes four more destinations. In particular, Greek exports to Belgium increased 5.6% (from €392.1 million to €414.1 million), to Malta by 49.2% (from €238.2 million to €355.4 million), to Austria by 16.1% (from €236.3 million to €274.5mn million), and finally to Portugal by 23.5% (from €166.2 million to €205.3 million).

As far as non-Eurozone EU member states are concerned, Greek exports increased by 8.9% to €4.98 billion from €4.58 billion as follows: Bulgaria – the biggest customer for Greek products in this category of countries – recorded an increase of 6.9% (to €1.42 billion from €1.33 billion), followed by Romania +10.8% (to €944 million from €851.8 million), Poland +9.6% (to €498.5 million from €454.9 million), UK +7.3% (to €1.19 billion from €1.11 billion), the Czech Republic +1% (to €230.6 million from €228.4 million) and Sweden +15.7% (to €222.9 million from €192.7 million).

B. Greek exports to Third Countries (non-EU) The largest shares of Greek exports outside EU destinations in 2018 were absorbed by Middle East and North Africa (16.3% of total Greek exports), and other non-EU European countries with a share of 15.7%. Exports to Asian and North American countries accounted for 7% and 5.1%, of total Greek exports, respectively.

More specifically, Greek exports to other

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LEADERS IN EXTROVERSION

❱❱❱ non-EU European countries recorded an increase of 7.4% in 2018. This is mainly attributed to the fact that 4 of the 6 main export destinations recorded upward trends, some of them quite strong. Notably, Greek exports to Turkey in 2018 recorded a new increase of 4.2% to €2.04 billion from €1.95 billion.

Greek exports to Northern Macedonia (ex-FYROM) also recorded an increase by 24.4% (to €798.5 million from €642 million), followed by Albania with an increase of 14.4% (to €527.5 million from €461.1 million) and Serbia up 6.6% (to €269.5 million from €252.9 million). Russia recorded a marginal drop of -1.2% (to €231.2 million from €234.1 million), while Greek exports to Gibraltar fell 10.8% (to €569.7 million from €638.5 million).

Greek exports to the Middle East and North Africa region recorded a significant increase of 25.5% (from €4.28 billion to €5.37 billion). As a result of recent developments in the political and economic conditions in several of the countries in these regions, there have been variations compare to 2017, but the majority of countries recorded positive trends for Greek exported products. Notably, petroleum products are the main Greek export product to most of the countries in the region. Specifically, out of the 9 countries that are the main customers of Greek products in the region, the eight recorded upward trends in exports, some of them in significant percentages, while only Israel reported a decline in Greek exports.

More specifically, based on the value of exports in January-December 2018, the top customer of Greek products in the region was Lebanon with a remarkable increase of 19.1% (to €1.49 billion from €1.25 billion), followed by Egypt with a jump of 53.7% (to €1.16 billion from €755.5 million), Saudi

I 120 I

Arabia with a smaller increase of 6.6% (to €725.1 million from €680.4 million). Libya rose 4th in the list, with a large increase in exports of 60.1% (to €427.4 million from €266.9 million), while Israel fell to 5th place with a decline in exports of -9.6% (to €400 million from €442.4 million). The United Arab Emirates recorded and increase by 25.4% (to €320.6 million from €255.6 million), while Greek exports to Tunisia more than doubled (to €293.3 million from € 146.5 million).

The last two destinations to which Greek exports recorded significant increases in 2018 include Morocco, with a surge of 31.4% (to €130.9 million from €99.6 million), and Algeria with a rise of 24% (to €172.1 million from €138.8 million).

Exports to Asian countries (excluding Mid East) in January-December 2018 recorded a large increase of 27.5% compared to the same period the previous year, to €2.30 billion from €1.81 billion. Certain variations were recorded in seven countries with remarkable export value, compared to a year earlier.

In terms of export value, the top customer of Greek products in the region under consideration in 2018 was China, with exports almost doubling from €473.8 million to €901.3 million, and giving the country 17th place from 13th in the list of main Greek product destinations.

Singapore, in second place, recorded a drop by 7.2% (to €424.6 million from €457.4 million), followed by India, which rose by 52.9% (to €148.7 million from €97.3 million), Georgia +5.6% (to €135 million from 127.8 million). Japan ranks 5th, with exports up 28.4% (to €121.1 million from 94.3 million, while Korea, in the 6th position, plunged 41.4% (to €113 million from €192.8 million). Finally, exports to Hong

Kong were up 21.7% (to €96.7 million from €79.4 million).

Greek exports to North America 17.6% of exports to (from € 1,440.2 million to € 1,693.5 million) are almost exclusively due to the increase in shipments to the major Greek customer in the region, USA, by 22.1% (from € 1.123 million to € 1,370.7 million). Exports to Canada increased 6.6% (to €162.2 million from €152.2 million), while Mexico declined slightly by -2.7% (to €160.6 million from €165 million).

To complete the picture of Greek export destinations for Greek exports, the following figures regard destinations with a smaller share in Greek exports.

In particular, low-value exports to other countries in America in 2018 recorded an impressive jump by 73.1% to €356 million from €205.6 million a year earlier. This big increase is attributed to a surge in Greek imports to Brazil (to €110.6 million from €26.1 million), and Argentina (to €32.2 million from €5.8 million), and Panama – Greece’s largest customer in the region (to €134.9 million from €107.9 million).

Exports to African countries (excluding North Africa) in January - December 2018 recorded a 10.1% increase compared to a year earlier, although they remained at lowvalue levels, at €168.7 million from €153.2 million. With regard to the main customers of Greek products in this region, it is worth noting the improved export performance recorded by South Africa (to €77.5 million from €64.5 million) and Nigeria (to €39.4 million from €33.9 million).

Low-value Greek exports to Oceania also rose by 5.8% (to €176.3 million from €166.6 million), including exports to Australia, up 4.9% to €158.4 million from €151 million, and New Zealand, up 14.9% (to €18 million from €15.7 million).

Source: ELSTAT

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Petroleum Industrial

MOTOR OIL (HELLAS) CORINTH REFINERIES S.A.

An oil refining sector leader

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 122 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. Furthermore, MOH is a constituent in the MSCI GREECE index and the FTSE4Good Index Series.

The Refinery with its ancillary plants and offsite facilities forms 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 are approved by International Organizations, ACEA, API, the US Navy & Army. The Refinery production facilities are located in Agii Theodori, in the province of Corinth, about 78 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 9001:2015 for production and delivery of fuels, lubricants, waxes and bitumen. Additionally, the environmental management systems are certified according to ISO 14001:2015, while the Health and Safety system is certified according to OHSAS 18001:2007. MOH’s Refinery is one of a handful of European refineries certified with these three certifications. The Company is totally committed to continuous quality improvement. Within the scope of this commitment, in September 2006 the Refinery’s Chemical Lab was certified according to ISO 17025:2005 by the National Certification System (Ε.SΥ.D.). The current accreditation is valid until September 2022. In addition, 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.

At group level, Motor Oil in 2017 posted a rise in total sales to 7.84 billion euros against 6.35 billion euros a year earlier. Earnings before taxes also rose to 450 million euros compared to 428 million euros in 2016. In the same year, the Company reported a surge in sales to 5.73 billion euros compared to 4.51 billion euros the previous year. A breakdown of the sales volume reveals the strong export character of the refinery (sales abroad, including shipping, accounted for 82.28% of the total sales volume in 2017, compared to 77.85% in 2016), as well as the significant contribution by industrial activity (92.37% of the total volume of sales in 2017, compared to 86.86% in 2016).

In the first half of 2018, the group saw its total sales rise by 18.08% y.o.y., at 4.4 billion euros (against 3.7 billion euros in the corresponding period of 2017). EBITDA amounted to 287 million euros, up from 273 million euros in the first half of 2017.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Tobacco Products Industrial

KARELIA TOBACCO COMPANY INC

When profitability met respect for human resources

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The Karelia Tobacco Company is committed to maintaining the highest standards of ethical behaviour and our corporate principles embrace every aspect of our business; in particular, our employees and our customers, and the community and environment in which we operate.

About us Established in 1888, Karelia is Greece’s largest cigarette manufacturer and exporter.

Karelia meets the challenges of world markets with more than a century of experience and a reputation for fine quality and innovation. Today, our brands are exported to over 65 countries around the world.

A company with 130 years of experience in creating exquisite blends of tobacco. ●S atisfying the tastes of the most discerning smokers ●P ackaged and presented with style and elegance Creating famous brands that have become part of the heritage of the tobacco industry, enhancing our status as creators of innovative and inspirational brands.

Our Company’s corporate ambition is to grow our presence in world markets, continuing to deliver unique brands of high quality.

Our commitment is to generate long-term value for our shareholders and employees, delivering positive financial results, year after year.

Quality and innovation From our very beginning it has been our mission to provide our customers with tobacco products of the highest quality. This uncompromising dedication to excellence ensures every aspect of our production is subject to the most demanding standards of quality control and expertise. Karelia’s world of tobacco demonstrates a commitment to quality from every point in the production process – from the sourcing of the finest tobacco leaf to package design and product presentation.

Our modern and flexible factory A high quality manufacturing environment is essential for the successful production of high quality cigarettes. At Karelia, our continuous investment programme ensures that our modern, climate-controlled factory remains a state-of-the-art complex, producing blends, sizes and pack formats to the highest international standards. We are the world’s first non-multinational company to employ the fastest available cigarette manufacturing and packing machinery, capable of producing 16,000 cigarettes per minute. Modern cigarette production has been transformed by scientific and technological innovation.

Today, our manufacturing base in Kalamata enjoys the latest computerised equipment and high-tech instrumentation for quality control at every stage of the production process. From leaf to finished cigarette, the state-of-the-art technology guarantees that we achieve the world-class standards that are essential to maintaining our position as a leading manufacturer serving a global market place.

Our Brands Our brands, are well known for their innovation, the high quality of carefully selected tobacco, unique blends and elegant packaging.

International Presence Karelia Tobacco Company distributes its brands in over 65 countries around the world and holds 0.32% of the world cigarette consumption.

Its brands hold a leading position both in the domestic markets in which they are distributed and in duty-free shops.

Our People People have always been, and always will be, a vital business asset and their talents and energy have been key contributors to our success in creating the outstanding products and portfolio of brands that our customers enjoy today.

In addition to ensuring that there is a safe and pleasant working environment, we continually invest in training so that everyone has the possibility to develop the skills necessary to face the challenges of the future.

Contact Details Athinon St., 24 100 Kalamata, Greece Τel.: +30 27210 69213, +30 27210 69002 Fax: +30 27210 69080 Email: info@karelia.gr Website: https://www.karelia.gr I 123 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

PPC Group is the leading Greek 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 & in the islands. It is also the owner of the electricity distribution network which is being operated by its subsidiary HEDNO S.A., and the largest electricity supplier, servicing approx. 6.9 million customers across the country.

PPC was founded in 1950 and is listed to the Athens Stock Exchange since 2001.

Electricity Industrial

Emmanouil Panagiotakis, Chairman & CEO PPC S.A.

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Contact Details 30 CHALKOKONDYLI ST., 104 32, ATHENS GREECE Headquarters tel: +30 210 5230301 Customer service tel: 11770 Email: info@dei.com.gr Website: www.dei.gr I 124 I

Public Power Corporation S.A. - Always by your side

I 125 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Aluminium Industrial

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A leading aluminium extrusion company in Southeastern Europe Etem is a leading aluminium extrusion company in Southeastern Europe and a company of the Viohalco aluminium segment. Founded in 1971, it is a fully integrated designer and producer of aluminium architectural systems, aluminium profiles for industrial applications and aluminium profiles and parts for the automotive industry.

Etem has become a global aluminium company, exporting in more than 50 countries, guaranteeing continual and uninterrupted delivery of quality products to global customers. Etem products are the preferred choice for significant building projects, throughout the world.

Etem’s objective is to design and produce products that help people improve their every-day living in a residential, commercial or professional environment.

Focusing on innovation, investment in capital equipment and personnel development, the Company offers a wide range

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Contact Details info@etem.com website: www.etem.com I 126 I

ETEM

of products for architectural systems, profiles for practically any use and profiles and parts for the automotive and other industries. These are energy-efficient products that are recyclable beyond their operating lifespan.

The Etem group’s operations and development follow the international standards of corporate responsibility and sustainability, recognizing the need to be active in the support and development of local communities, to provide a safe working environment for its people and to invest in the protection of the environment. The Company maintains an Environmental Management System, certified according to ISO 14001:2015, while it also implements best practices for environmental protection. Its production facilities are certified according to ISO 9001:2015, complying to the most demanding European and international standards.

I 127 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Aluminium and copper Industrial

ELVALHALCOR

Aluminium and copper processing experts

ElvalHalcor is a leading global industrial producer of aluminium and copper products. 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 14 industrial units, a market presence in over 100 countries, and highly experienced and specialised personnel. ElvalHalcor is active in many dynamic, growing markets, including:

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Contact Details e-mail:info@elvalhalcor .com website: www.elvalhalcor.com I 128 I

● Automotive and shipbuilding ● Packaging ● Energy and power networks ● Renewable energy ● Industrial applications ●H eating, ventilation and air conditioning (HVAC&R) ● Building 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 metals industry. The aluminium segment comprises of the aluminium rolling 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 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 ● Building and construction ● Energy

● Cookware ●H VAC&R (heating, ventilation and airconditioning). Elval’s aluminium rolling production unit is certified as per ISO 9001:2015, ISO 14001:2015, ISO 50001:2011 OHSAS 18001:2007 and IATF 16949:2016. 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), Epirus Metalworks (Greece) and Sofia Med S.A. (Bulgaria) as well as NedZink processing zinc (the Netherlands).

ElvalHalcor provides quality copper and copper alloy products, ranging from copper tubes for water and heating networks, air-conditioning, refrigeration, renewable energy and industrial applications, to copper and copper alloy sheets and strips for architectural and industrial applications. The copper segment

operates efficient manufacturing facilities in Greece and Bulgaria as well as in the Netherlands for zinc products, 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 the largest in Europe, 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 value-added 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 9001:2015, ISO 14001:2015,OHSAS 18001:2007, and ISO 50001:2011 . For more information, please visit: http://www.halcor.com.

I 129 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION TUBES 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 130 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 9001:2015 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, 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 tubes specially made for gas networks gas networks TALOS® MED: Special made for medical gas networks TALOS® ECUTHERM SOLAR: Industrial in-

sulated special made for solar energy installations TALOS® ACR INNER GROOVED: Enhancing heat transfer and energy efficient for HVAC&R TALOS® Geotherm: Specially made for geothermal heating and cooling.

TALOS® Linesets: Special design for split air conditioning and heat pump systems ● Copper and titan zinc gutters ●B rass 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. ●C opper sheets and strips for architecture applications, such as domes, roof covers, exterior surfaces, gutters. ●C opper and brass sheets and strips for the construction of electrical and elec-

tronic equipment, springs, parts and components for the automotive industry, boilers, solar energy collectors and panels, heat-exchangers, electricity converters, connectors, refrigerators, prerolled high- frequency cables, ammunitions, wrapping for fire-resistant 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. ●U R30 copper alloy wire and net for cage farming aquaculture. ● Copper alloys for the production of beakers, discs and coins blanks and rings for bi-colour coins. ●C opper bars, rods and strips for architecture applications, electrical and mechanical equipment, decoration.

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION ALUMINIUM Industrial

ELVAL

A worldwide leading aluminium rolling manufacturer

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Contact Details Tel.: +30 22620 53111 Fax: +30 22620 53677 e-mail: info@elval.com, website:www.elval.com I 132 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 50 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 cuttingedge infrastructure and improving and extending production facilities, the Company has reached an annual capacity of 290,000 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. 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, strips and circles for a wide range of applications covering various markets.

Automotive industry ● Various internal parts and components ● Heat and sound insulating covers ● Suspension and brake systems

Construction / architectural applications ● Curtain walls ● Composite aluminium panels ● Perforated sheets and coils ● Corrugated sheets ● Facades ● Construction angles ● Metal roofs ● False ceilings ● Venetian blinds /Rol. shutters ● Garage and industrial doors ● Window spacers ● Rain gutters

Shipbuilding ● Patrol vessels

Water transport systems ● Multi-layer tubes Power networks ● Bus ducts Renewable energy ● Windmill platforms and nacelles ● Solar systems Oil & Gas ● LNG storage tanks

Pleasure boats ● 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 ● Cookware ● Kitchen appliances Signage ● Name plates ● Road signs ● Billboards ● Car license plates ● Aluminium trims

I 133 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Insurance Commercial

Pantone 287 Pantone 185 Pantone 423

Ethniki Insurance Co.

A leading force in the insurance sector for 128 years

Established in 1891, Ethniki Insurance is the oldest insurance company in Greece. It gained a leading position in the Greek Insurance industry and constitutes a powerful benchmark in 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 ● Improves its infrastructure to provide services of high quality. ● Pays claims to insured members around €1 million per day. ● Has over 1,000,000 policyholders. ●A lways stands near the people covering every need, with continuously upgraded struc-

tures and dynamic sales networks, consisting of 151 agency offices staffed by 2,103 insurance consultants and 1,418 associated agencies and brokers across Greece.

●F ollows a Customer-oriented philosophy, with continuous measurement of customer

satisfaction, research and development of services & new products.

●S upports the Education, Arts & culture and the Environmental sustainability by contrib-

uting to local initiatives.

Christoforos Sardelis, Chairman of BoD, Ethniki Insurance

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Contact details 103-105 Syggrou Ave., 11745, Athens, Greece Tel.: +30 2130 318189 Fax: +30 210 9099111 Website:www.ethniki-asfalistiki.gr/ I 134 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Food Products Industrial

Theodoros Nitsiakos, President

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NITSIAKOS SA

One of Greece’s most rapidly growing food companies Nitsiakos is one of the most rapidly growing food industry companies in Greece, as well as the leading poultry producer in the country. Since 1972, when the company was launched, Nitsiakos has established a high-quality, vertically-integrated production system, in order to ensure a reliable step-by-step process of breeding, hatching, and distributing of its products.

Based in Ioannina, the company is operating both in Greece and abroad and has recently extended its reach beyond chicken meat. Over the last decade, Nitsiakos implemented an ambitious investment plan in order to secure its growth in its main business activities and further allow its entry into the market of dry food for pets. For the first time in Greece, the company generated a production circuit of turkey and rabbit meat, as well as bread flour, and also proceeded with importing environmentally friendly bio-mass sunflower husk. Nitsiakos also places particular emphasis on biosafety and veterinary monitoring, as the company takes strict measures and applies systematic checks to ensure the delivery of high-quality products to consumers. It is worth noting that Nitsiakos has also maintained a strong export activity to Balkan countries and Cyprus, reaching constant sales growth and constantly seeking to further penetrate into more foreign markets.

In addition, the company pioneered by launching a new product in the Greek market, that of ‘black chicken’, aiming to offer to its consumers products of high nutritional value, in line with the company’s values and philosophy. Today Nitsiakos is among the largest producer of chicken meat in Greece, one of the major companies when it comes to grain and soy flour trading and among the 10 largest food industry producers in the country. The firm operates 4 raw material processing units, 4 feed units, 6 units of primary production and 2 dry food and flour factories.

In 2017, Nitsiakos posted a 5% rise in sales to €325 million, compared to 2016, while in 2008, just before the start of the financial crisis, its turnover was €117.7 million. In the investment segment, the firm plans a €50-million spending in the period 2018-2019, which will focus on the necessary actions for the company to enter the beef category. Such investments are envisaged to support the firm’s further growth, as it has more than doubled its turnover over the past decade, through entering a number of new business activities.

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Contact Details Industrial Area, Municipality of Zitsa, 455 00 Rodotopi, Ioannina, Greece Tel.: +30 26510 22200 FAX: +30 26510 20769 Website: www.nitsiakos.gr I 135 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Organization Commercial

Grigoris Stergioulis, Chairman & 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 136 I

ENTERPRISE GREECE

Creating Value Enterprise Greece is the investment and trade promotion agency of the Greek State, under the auspices 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 attracts 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.

Under its role to promote exports, Enter-

prise 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.

Investment Promotion Our comprehensive strategy to promote Greece and support investment activities in

the country includes: ● Organizing investment missions abroad. ● 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. ●M aintaining and updating a portfolio of investment opportunities and projects. ●S upporting major investments through Greece’s Strategic Investment (Fast Track) process. ●T roubleshooting problems that arise

though our special, investor mediation (Ombudsman) service. ●R ecommending regulatory changes to improve the legal framework for investments.

Handling investor requests for information through our front office support.

Export Promotion Our 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 exhibi-

tions to promote Greek products.

● I mplementing trade promotion pro-

grams co-financed by the European Union. ●P roviding Greek exporters with upto-date information and guidance to help them penetrate foreign markets. ● Training prospective exporters how to create and go about selling products abroad.

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 137 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Food Products Industrial

NESTLÉ HELLAS SA

Marketing one of the world’s most popular brands

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Contact details 4 Patroklou St., 151 25, Marousi, Attica, Greece Tel.: +30 210 6884111 Fax: +30 210 6840649 E-mail: nestle.consumers@gr.nestle.com Website: www.nestle.gr I 138 I

Nestlé Hellas is a member of the Greek family for over a hundred years, marketing some of the most popular products. Nestlé operates two factories in Greece: the Oinofyta coffee plant and the Korpi natural mineral water plant in Monastiraki, Vonitsa (Aitoloakarnania).

The coffee factory is located in the industrial area of the ​​ prefecture of Boeotia; current production capacity is based on eight ultramodern production/packaging lines for Nescafé Classic and Greek coffee Loumidis Papagalos. The factory is operated and controlled by a staff of 130, and produces all packaging for retail and mass catering (e.g. hotels, restaurants, cafes), with a special focus on product safety and quality, and special care for workplace safety.

The Korpi plant produces natural mineral water and is located in Aitolokarnania, western Greece. The factory applies a food quality and safety system that is tailored to the NQMS (Nestle Quality Management System) and the FSMS (Nestle Food Safety Management System), the core of which includes implementation of the HACCP system. The quality system applied has been certified in accordance with ISO:22000.

The company’s main products in the Greek market are: baby food products, coffee, chocolates, cooking products, breakfast cereals, natural mineral water, ice creams, instant chocolate drinks, products for commercial use and pet food products. Nestlé operates in Greece through Nestlé Hellas, CPW Hellas and Nespresso Hellas.

Nestlé Hellas is among the industry’s most dynamic companies, exporting some of the most popular brands to the world’s largest markets. Specifically, its factories export more than 1500 tonnes of coffee (Loumidis Papagalos & Nescafé) to nine (9) countries including US, Australia, UK and Germany, while the ice cream factory exports to Canada, Germany, Italy, Spain and the Balkans. Notably, the company’s production in Greece accounts for 60% of annual sales. The group operates in a total of 14 locations in Greece and employs about 800 people as permanent staff.

A Nestlé investment valued at 8.5 million euros in the Inofita plant concluded at the end of 2018; it mainly concerned boosting production to allow the firm increase its domestic as well as export volumes. This investment was part of the company’s general investment plan, whose value over the last three years has topped 20 million euros.

Nestle’s sales in 2017 inched up to 336 million euros, compared to 331 million euros a year earlier. Pre-tax profits rose to 34 million euros, compared to 10.6 million euros in 2016.

www.newtimes.gr

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION 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 140 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. 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, SHELL, DEPA, DESFA, OMV, ENGIE, Snam, ENI, SOCAR, National Grid, E.ON, Spectra Energy, Plains All American, Energy Transfer, Denbury, DCP Midstream, MRC Global, Spartan, EPCO, TOTAL, Enbridge, Cheniere Energy, DNOW, Repsol, STEG, Sonatrach, PDO, OGC, Saudi Aramco, EXXON MOBIL, ABB, EDF, Terega, Saipem, Subsea 7, Noble Energy, Sapura energy, TechnipFMC, Genesis, Allseas, Gaz System, Subsea 7, Wintershall, Qatar Petroleum, KPO, GASCO, PEMEX, Whitewater Midstream and AnlgoAmericanetc. 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

© Noble Energy 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 welding unit (LSAW) the primary uses of line pipes are in oil, gas, CO2 and water transportation networks.

● Casing pipes: These high-frequency in-

duction 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

● I nternal and external coating of pipes

produced by other pipe manufacturers

●A ccredited laboratory for raw material

and pipe testing, in accordance with ΕΝ/ ISO 17025

● I n-house corrosion testing laboratory for

sour service applications ●W eld on connector facilities for casing

pipes ●P ipe storage ●S upply 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 141 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION POST SERVICES

Elias Athanasiou, Chief Executive Officer

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Contact Details 1 Apellou Str., 101 88, Athens, Greece Tel: +30 210 3353777 Website: www.elta.gr I 142 I

ELTA

Hellenic Post supports Greek exporters Hellenic Post (ELTA) is a leading Group of Companies, which operates across the whole range of postal services, offering customers modern and high-quality services at affordable prices, covering effectively the whole Greek territory.

At the same time, in addition to its traditional focus, ELTA now offers financial and bancassurance services, retail network products and power supply services through “ELTA Energy”.

Hellenic Post history has been inherently linked to Greek entrepreneurship for 191 years, supporting Greek products traveling abroad, and in turn domestic business, trade and exports. Having always a high sense of national responsibility, but even more so now that domestic exports are growing considerably, being one of the main pillars for the country’s final ride out of the crisis.

In this context, we offer exporters operating mainly in e-commerce, but also in other sectors, a pioneering customs clearance service for their products directed to nonEU countries, greatly facilitating their daily routine and work, and at considerably competitive prices. This service is now provided through a network of 31 branches, covering most of the country’s regions, where small and medium-sized businesses with export

activity are located, relieving businesspeople of a significant bureaucratic burden by acting as their direct representative, rapidly, reliably and effectively implementing this project. This service is offered exclusively by ELTA for items worth up to 1000 euros, an amount which is expected to be increased soon.

It is undoubtedly a service developed at a strong pace, since it responds effectively to the expectations and needs of a dynamically growing market. For instance, in 2018, a total of 41,500 items were moved, compared to 10,650 in 2017, when the scheme went into operation in July. The total number of parcels and small packages traded through the Hellenic Post to destinations abroad in 2018 came to a total of 4.8 million items, displaying the market’s large dynamics.

The great response by exporters to this service, apart from the fact that it is undoubtedly a very positive development, is a strong indication that an increase in Greek exports would result in new, increased needs for transportation. In this direction, and based on our strong international alliances and the possibilities of cooperation with companies that complement our business, we plan to launch soon new integrated and innovative services that will further facilitate the work

for Greek exporters and will enable them to focus exclusively on the production and sale of their products.

ELTA enjoys a particularly strong presence in the field of power supply services, where, through ELTA Energy we are addressing both households and businesses. With highly competitive and customer-friendly programs, modern and high-quality service, simple and straightforward terms, par-

ticularly financial charges, and an additional 10% reward for repayment of account on time, we are the ideal and reliable partner for any export company that wishes to reduce its operating costs. This is the reason why, despite the relatively short period of time we are active in this market, we have managed to be among the biggest players in the sector and to constantly increase our share.

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Industrial

CABLEL HELLENIC CABLES

A leading European producer of reliable and competitive cable solutions

Cablel® Hellenic Cables is the cable production and marketing segment of Cenergy Holdings and is one of the largest cable producers in Europe. The Company started its activities in 1950 and in 1973 it was incorporated the name Hellenic Cables, expanding its production and trade operations.

Today, Cablel® Hellenic Cables operate 6 plants in total: four plants Greece, that produce land and submarine cables, enamelled wires, plastic and elastomer compounds; one in Romania, producing land cables and one in Bulgaria, producing wooden reels and pallets.

With 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. Since 2012, the Company has implemented an investment plan in excess of EUR 85 million for the manufacture of high and extra highvoltage submarine cables in its submarine cables plant, Fulgor.

The Company’s wide product range, sold internationally under the Cablel® trademark, extends to submarine cables up to 400kV power cables (rated up to 500kV), marine and low smoke halogen-free cables, fire resistant cables, telecom, signal and data cables with copper conductors or optical fibers and enameled 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. Turnkey cable system solutions Cablel® Hellenic Cables offers full cable system solutions that meet specific demands

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Contact Details e-mail: info@cablel.vionet .gr website: www.cablel.com I 144 I

of its customers. The Company provides a complete package of services including: ●D esign and manufacture of products ac-

cording 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)

● Full project management ●C ustomer staff training in system opera-

tion and maintenance

● Maintenance and customer support

Commitment to quality and sustainable development has been a key factor enabling Cablel® Hellenic Cables establish a strong market position internationally.

The Company’s highly experienced technical and managerial personnel are committed to technological excellence and outstanding quality, which ensures that users of Cablel® products have made a reliable choice. 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.

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Industrial

SIDENOR, STOMANA INDUSTRY AND THEIR SUBSIDIARIES

The leading producer of steel products in South East Europe With over 55 years of experience and expertise in steel, 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 Eastern Europe. Its extensive product portfolio, which includes long and flat steel products, and downstream steel products, is manufactured across 8 facilities in Greece, Bulgaria, Romania, Albania and North Macedonia. Project locations span Germany, Romania, the rest of the Balkans, Algeria, Israel and the U.S.A. Sidenor Group is truly a global supplier, providing a range of solutions to the steel sector and catering to the complex needs of clients worldwide.

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 ● s trict adherence to applicable standards and regulations ● i nnovative characteristics, which provide customers and end consumers with added value, and ●e xcellent customer service due to extensive sales and logistics network. 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 prefab-

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Contact Details e-mail: info@sidenor.vionet.gr website: www.sidenor.gr I 146 I

ricated 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 applications and meets all low-carbon wire production needs.

SBQ-Special Bar Quality steels: Hot-rolled round bars (diameter: 22-120mm) and peeled turned and polished round bars (diameter: 30- 115mm) 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 nonalloyed 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—?D ownstream operations for steel product processing; â—? Sales and distribution.

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Association Olive Oil

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Contact details Xenofontos 15a, 10557, Athens, Greece Tel.: +30 2103238856 Fax: +30 210 3246408 Email: info@oliveoil.gr Website: http://www.sevitel.gr I 148 I

SEVITEL

A World of Taste SEVITEL was founded in 1964 under the name “PANHELLENIC EXPORTS’ ASSOCIATION of OLIVE OIL”, aiming to represent and support mainly the interests of the exporters of the Greek olive oil industry.

As from 1981 SEVITEL started to function under its current structure and organization under the name ‘’PANHELLENIC ASSOCIATION of PROCESSORS – EXPORTERS of OLIVE OIL industries’’.

In 1992 the statute of the Association was amended once again and its name was changed to “GREEK ASSOCIATION of INDUSTRIES and PROCESSORS of OLIVE OIL” with the title SEVITEL, a situation which remains until nowadays.

SEVITEL is a non-profit making Organization representing the whole private sector of the olive oil industries, packers and exporters of olive oil in Greece. In order to assist its members in the production and marketing of a quality product, it is directly involved in activities aiming to the amelioration of the whole olive sector in Greece.

As from September 2017 SEVITEL and the Hellenic Association of Industries and Packers of Olive Oil (ESVITE) merged together into one Association, under the umbrella of SEVITEL. After this SEVITEL is expressing and representing the whole private sector of packers and exporters of Olive Oil in the country.

SEVITEL is a Member of and collaborates with the following national institutions: ● The Federation of Greek Enterprises (SEV) ● The Pan-Hellenic Exporters’ Association (PSE) ● The Greek Exporters’ Association (SEVE) ● The Institute of Economic and Industrial Researches (IOBE) It is also collaborating with the following national organizations: ● Enterprise Greece ● The Athens’ Chamber of Industry and Commerce (EBEA). ● The Association of S.A and LTD Companies SEVITEL is one of the founding members of the National Interprofessional Organization of Olive Oil and Olives (EDOEE) and as from the beginning of 2018, National Interprofessional Organization of Olive Oil (EDOE), following the withdrawal of the Association representing the private sector of table olives.

SEVITEL is also a member of ● The Advisory Committee on Olive Oil and Table Olives of the IOC ● The Advisory Committee on Olive Oil and Table Olives of the EU Commission. ● The European Federation of Olive Oil Industries (FEDOLIVE) SEVITEL as a Professional Association is performing the following activities aiming to support and promote the interests of its members: ● I t is representing its members in front of the competent authorities, both on a national and a EU level ● I t is following the national and EU legislation related to olive oil and is informing accordingly its members ● I t is dealing with issues and questions raised by its members ● I t is setting up Expert Committees and Advisory Groups to deal or to study specific issues related to olive oil ● I t is operating a data bank on issues related to the olive oil market on a national and international level ● It is in direct contact with the Greek Trade Offices worldwide ● I t is actively involved in the promotion of Greek olive oil through co-financed programs ● I t is financing scientific research related to olive oil, mainly on health issues.

SEVITEL in order to offer its members the best possible services and support is running ●A Laboratory for the Organoleptic Assessment of virgin olive oils, accredited by the National Accreditation System (ESYD) and recognized by the International Olive Council (IOC), ●T he Olive Oil Academy, which is organizing events and seminars related mainly to olive oil but also to the olive sector in general.

The top priorities of SEVITEL are the following: ●T he improvement, protection and promotion of the quality of Greek olive oil ●T he transparent and legal functioning of the domestic market of olive oil on the retail level ●T he expansion and increase of demand for branded packed Greek olive oil in the world market.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Services

EXPORT CREDIT INSURANCE ORGANIZATION

Who we are

The ECIO is a special purpose legal entity under private law. It was founded in 1988 and is supervised by the Ministry of Economy and Development. Τhe main target of ECIO is to have a supportive and consulting role, so that Greek export companies feel confident and protected when they export abroad. Through insurance and financing schemes, ECIO is committed to support these companies to safely penetrate foreign markets.

WHAT WE STAND FOR ECIO is addressed to all Greek export companies, focusing on small and medium sized ones, even those newly established, regardless of size or sector, for the very first shipment of goods or services and provides insurance coverage, to the export credits granted by them to foreign buyers. International transactions are carried out in an often unpredictable environment and it is crucial to exporters to build a risk management strategy as an essential part of their development abroad.

ECIO aims at guaranteeing to exporters insurance coverage up to 95% of the possible loss by means of tailor made services, financing solutions and advisory services. Sharing a passion for trade, we the people of ECIO, want to collaborate with our customers to build successful, dynamic and extroverted businesses, because by helping them, we contribute to improve the pace of Greek economy.

Eleni Stathatou, President

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ECIO’S ADVANTAGES ●D irect financing of the exporter through a special financing program in cooperation with all Greek Banks at an extremely favorable interest rate, ● Percentage of cover up to 95% of the insured value of goods or services, ● Coverage of any type of export company, even startups, ● Coverage even of a single export invoice, regardless of the insured amount, ● Coverage even in countries considered to be of a high risk, ● Insurance and financing from the time of receipt of the purchase order, ● Coverage of political risks and we are proud to handle our transactions in a ● Competitive premium rate.

In light of the above, we stand by Greek exporters offering them useful tools for their competitiveness and safe development.

Looking forward to providing you with further information over our services, please do not hesitate to contact us.

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Contact details Athens Headquarters 57 Panepistimiou Str., 105 64 Athens Tel.: +30 (211) 9966200 - (210) 3310017 Fax: +30 (210) 3244074 Εmail: oaep@oaep.gr, Website: www.oaep.gr Thessaloniki Offices, 51 Politechniou & V. Hugo Str., 546 25 Tel.: +30 (2310) 548718 Fax: +30 (2310) 548762 Εmail: eciothes@oaep.gr I 149 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Commercial

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Contact Details 357-359 Messogion Ave., 152 31, Halandri, Athens, Greece Tel.: +30 213 0884000 Fax: +30 210 6749504 Email: desfa@desfa.gr Website: http://www.desfa.gr I 150 I

The gateway of natural gas in Europe DESFA is the main operator of Greece’s National Natural Gas Transmission System (NNGS) and is responsible for the management, exploitation and development of the National Natural Gas System and its interconnections. DESFA aims to serve its Users with safety, reliability and adequacy, while offering regulated services of the NNGS, by RAE, as well as non-regulating services to major market players.

In 2018, a 66%-stake in DESFA was acquired by the Senfluga consortium, comprised of Snam, Enagas and Fluxys, the three leading European natural gas transmission companies. The joining of forces of the Senfluga Energy consortium and DESFA are envisaged to create greater strategic alliances in the wider region, expand its network of energy infrastructure and offer services far beyond the Greek borders. The Operator becomes a strategic player in the Mediterranean with multiple benefits for Greece and the Greek economy standing out among the top of Europe in the energy sector.

DESFA implements a major investment plan valued at 330 million euros, involving the construction of a wide network of energy infrastructure, of strategic importance to Greece and Europe.

ENERGY

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DESFA

We are working on further developing Greece’s gas infrastructure and expanding the regional market by enhancing crossborder interconnectivity with the supply of upstream Natural Gas systems further north through the NNGTS, as well as by supporting projects of common interest in the region. At the same time, our goal is to further develop the current potential of the Revithoussa LNG Terminal Station to serve as a unique source of gas supply diversification in the Balkan region and an energy gateway for the import of LNG in Europe.

DESFA promotes the construction of smallscale LNG infrastructure, allowing ship bunkering along with road transportation of LNG to off-grid customers.

Our strategy is to tap into new uses of natural gas in Greece, introduce renewable gases in order to create a sustainable energy system and contribute to the reduction of polluting emissions and greenhouse gases in the country. According to EU energy targets, the Operator is engaged to promote the development of a unified European energy network, where the use of gas as a source of clean and sustainable energy (fuel) is an essential component for the economy decarbonization up to 2030.

Having developed a particularly extensive know-how, DESFA works on transforming Greece into a regional gas transmission and trading hub, while further consolidating its position as the most reliable partner regarding largescale energy projects in the wider region.

The new shareholding scheme enables DES-

FA to move one step forward by expanding its activities beyond Greek borders, enhancing its position in the international energy scene. DESFA’s objective to achieve a strong strategic position in South-Eastern Europe will bring multiple benefits to the Greek economy, by stimulating investment, creating jobs and boosting growth.

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION region By its very nature, Western Greece is a compilation of different experiences which – individually and collectively – have an inspiring effect on visitors, combining the discovery of unique destinations with the satisfaction of personal travel desires. As such, Western Greece constitutes a collection of experiences, of inspirations, encapsulated by the “Western Greece Collection. Inspirations” communication platform, where each destination and experience is just that… an inspiration.

Western Greece is quickly becoming one of the top tourism destinations in Greece. The emergence new hotel units and new investments in the area have strengthened the local economy and are currently changing the overall profile of economic activity.

Administratively, the Region of Western Greece (RWG) is a second level local government (EU NUTS 2 LEVEL). It represents an area of around 700.000 inhabitants, divided in 3 regional divisions (Ilia, Achaia and Aitoloakarnania) and 19 municipalities, while it produces about 5% of the total Gross Domestic Product (GDP) of the country.

The Regional Authority of Western Greece counts more than 800 employees, spread in 22 Directorates and 2 Special Services: the Intermediate Managing Authority, which is responsible for the implementation of the Regional Operational Programme, and the Regional Development Fund, which is the funding body of it. The latter also has a special department for the implementation of European projects and other networking activities.

Among the strongest points of the Region of Western Greece are its Higher Education and Research Organizations, which have shown exceptionally important research and development (R&D) activities. On various occasions these have led to immensely successful efforts in manufacturing products and provision of services of high quality technology. In addition, the Region of Western Greece presents a medium to satisfactory percentage of innovative enterprises. It is important to mention that RWG achieves a strikingly high percentage in innovative enterprises with regard to services (58.4%).

The Regional Operational Programme 20142020 of The Region of Western Greece has been structured according to 3 main priorities, due to the Smart Specialization Strategy: ● Agricultural development and food sector ● Culture and Tourism ● Microelectronics and advanced technology

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Contact Details 254 Panepistiliou, Bulding B’, 26443, Patra Tel.: +30 2613 613108 Fax: +30 2613 613324 Website: www.pde.gov.gr I 152 I

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION 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 154 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 pharmaceutical 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 147,3 mio Euro, showing a notable 29,12% increase versus 2016) 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 2019

LEADERS IN EXTROVERSION Building Materials Industrial

Dimitris Papalexopoulos, CEO

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Contact Details 22-A Chalkidos St., 11143, Athens, Greece Tel: +30 210 2591 111 Fax: +30 210 2591 205 Email: main@titan.gr Website: www.titan.gr

TITAN CEMENT CO. SA

A global titan 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 --carried out either by wholly-owned affiliates or by jointventures with other partners-- covers 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, while it employs 5432 people worldwide (2017), and is organized in four geographic regions: Greece & Western Europe, USA, Southeastern Europe and Eastern Mediterranean. Titan’s global presence includes the following countries: Egypt, Albania, Bulgaria, Brazil, France, Greece, USA, UK, Italy, Kosovo, Northern Macedonia, Serbia and Turkey.

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.

In 2017, the cement company posted a drop in sales to 233.8 million euros compared to 262.4 million euros the previous year. Pre-tax profits halved to 11.8 million euros against 22.7 million euros in 2016. Group sales were steady at 1.505 billion euros in 2017 compared to 1.509 billion euros on-year. Pre-tax profit inched down to 63.2 million euros from to 63.5 million euros in 2016.

In 2017, investments and operating expenses for environmental improvements totaled 27.5 million euros.

In addition, the Group allocated 2.1 million euros to support projects in the local communities in its areas of activity.

In the nine months of 2018, Group sales inched down to 1.101 billion euros, against 1.144 billion euros in the same period a year earlier.

Pre-tax profit rose to 65.9 million euros from 59 million euros in 9M 2017. In Greece, the international Group posted small growth in domestic demand remained at low levels. Turnover in 9M 2018 decreased to 173 million euros (-9% vs last year) and EBITDA down to 11 million euros (-48% vs. last year), impacted by higher energy costs.

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION PHARMACEUTICALS PRODUCTS Industrial

Vianex S.A.

The living history of Greece’s pharmaceutical Industry Being one of Greece’s largest pharmaceutical companies, VIANEX compares not only to domestic but also international pharmaceutical firms, with more than 90 years of experience in the field of medicine. VIANEX has achieved top performance in a wide range of activities, including production, marketing, exporting and distribution of pharmaceutical products.

The four state-of-the-art, specialized manufacturing plants operated by the firm are of excellent capabilities across the spectrum of drug production, while continuously upgrading the range of services provided through investment in technological equipment. The high quality of VIANEX products and services has been trusted by major multinational pharmaceutical firms, concluding long-term deals.

The export sector is a strategic choice for VIANEX, with up to 60% of its production being destined for export to as many as 30 countries worldwide. The firm currently

Dimitris P. Giannakopoulos CEO & Alternate President

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Contact Details Tatoiou Street, 18th km Athens-Lamia National Road Nea Erythrea, 146 71, Greece Tel.: +30 210 8009111-120 Fax: +30 210 8071573 Email: mailbox@vianex.gr Website: http://www.vianex.gr/ I 156 I

employs a mostly highly-qualified staff of 1,100, and invests in their further education and training.

History Giannakopoulos family became involved in the field of medicine back in 1924, through a central Athens pharmacy (on Piraeus St.). A decisive step for the business was made by Paul Giannacopoulos in 1960, with the establishment of the firm PHARMAGIAN, which in 1971 became a public limited firm and was renamed to VIANEX SA. The firm’s industrial activity begins in 1977, with the operation of its first plant. By 1999, VIANEX had acquired four state-of-the-art factories in Attica and Achaia, with the headquarters and distribution center for finished products based in Varybombi (Attica). Subsidiary VIAN SA was established in 1995, to take care of the handling and marketing of nonprescription medicinal products (OTC), di-

etary supplements, diagnostic and parapharmaceutical products.

Research The firm’s strategic objective for continued progress, both nationally and internationally, is innovation-driven competitiveness. The R&D department is respon-

sible for coordinating the work of experienced and specialized scientists working with VIANEX’s labs and plants. Labs are equipped with cutting-edge technology and are specialized in various fields related to the object of the plant in which they are housed. At the same time, the firm supports the great research potential of Greek universities and research centers

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION through active participating in innovative projects and potential collaborations.

Exports Extroversion is another strategic choice for the firm, as it boasts a successful 30year track record in international markets.

High-quality products and large-scale production as a result of continuous investment in modern machinery and human resources, have made the firm one of Greece’s major exporters. Overall, exports account for 16% of the firm’s sales, with an annual export of 30 million packages of 225 pharmaceutical products. As much as 60% of VIANEX’s production is destined for export, while the firm’s expansion worldwide is steadily increasing with penetration into new markets and expanding existing collaborations with new products.

The firm holds several international certifications (EU GMP, EU GDP, EN ISO 9001, EN ISO 13485), as well as 53 quality certificates. In addition, health organizations in several countries (Japan, Brazil, Turkey, Jordan, Gulf countries, Taiwan, Iraq, Kuwait, Egypt) have granted VIANEX’s four specialized factories as many as 40 GMP (Good Manufacturing Practice) certificates. Notably, VIANEX is among the first firms to have gained a GMP certificate by authorities in Turkey. Recently, an inspection was carried out and successfully completed at the Vianex Plant C by Brazil’s National Health Surveillance Agency (ANVISA), which adheres to rigorous criteria for its controls.

New deals & Growth A typical example of VIANEX’s successful export/growth model is its collaboration with Eli Lilly for the production of the injectable antibiotic vancomycin in its plant C, which is exported exclusively to the Chinese market.

International pharmaceutical companies have always shown their trust in VIANEX and VIAN for the production, representation and/or distribution of their products,

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resulting in a constantly expanding firm portfolio.

At the end of 2017, another major deal was added to VIANEX’s portfolio, signed with the international pharmaceutical firm JANSSEN. The agreement concerns the promotion and distribution by VIANEX of two well-known JANSSEN medicinal products of wide consumption and significant therapeutic value.

Another recent example of growth is the extension of a 35-year collaboration with MSD on the dyslipidemia treatment group, announced in June 2018. Under the new deal, MSD licenses VIANEX to promote and distribute in Greece two very popular hypolipidemic drugs.

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Food Products Industrial

SOYA MILLS SA

Operating in the food industry since 1950

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Contact details 1 Alamanas St., Euroco Building, 151 25, Μarousi, Attica, Greece Τel.: +30 210 6384 400 Fax: +30 210 6384 500 E-mail: mail@soya-mills.gr Website: www.soya-mills.gr I 160 I

Soya Mills SA is a leading firm in agricultural and food products in Greece and the wider Eastern Mediterranean. The company’s roots date back to 1950, when two Asia Minor refugees with extensive cereal sector experience, Elias Eliades and Aristotelis Olfoudis, founded in Thessaloniki the company “Thessaloniki Olive Oil & Cotton Industry”, one of the sector’s largest, which was quickly established in both the Greek and the international markets.

SOYA MILLS operates both in Greece and the Eastern Mediterranean. Its main products are: Proteins (derived from processing oilseeds, a main ingredient of animal feed), Seed oils (such as sunflower oil, soybean oil, rapeseed oil, all having a wide range of use), Grains (such as maize, wheat, barley, intended for human use and animal feed) and Olive Oils, one of the main export products of Greece.

The various Soya Mills facilities are strategically located in selected areas of Greece and the Balkans, so as to serve the domestic market, as well as countries in Eastern Europe, Middle East and Mediterranean. The Company is headquartered in Maroussi, Athens, while its main processing unit is in Kalamaki, Corinth. In addition, the Company owns 3 units for receiving, drying and storing oilseeds, cereals, proteins and oils.

Kalamaki Plant: A mere 70 Km from Athens, the Kalamaki factory is located very close to Greece’s largest market. Its port facilities are designed to accommodate large vessels (Panamax) of dry and liquid cargo, in order to facilitate the Company’s import and export activities. In addition, Kalamaki displays large storage warehouses for oilseeds, grain, flours, and oils. The Kalamaki facilities include two modern processing units: (a) Oilseed Processing Unit: Oilseeds (such as soybeans, rapeseeds, sunflower beans) are crushed to produce edible oil and protein meal; and (b) Crude Vegetable Oil Processing Unit: In order for crude oils to become edible, they must undergo a multi-stage process.

Northern Greece Installations: In addition to Kalamaki, SOYA MILLS has an extensive presence in Northern Greece, namely in Thessaloniki, Serres and Kavala. These state-of-the-art facilities consist of silos for the storage of grains and oilseeds, horizontal warehouses for the storage of protein flours, as well as tanks for the storage of oils. In addition, seeds may also be dried to achieve their safe long-lasting storage. SOYA MILLS facilities are situated at the heart of Greece’s rural production of cereals and oil seeds. It receives a significant volume of its raw materials at its Northern Greece facilities.

In 2017, the company reported sales of 190 million euros compared to 196 million euros a year earlier. Pre-tax earnings dropped to 3.8 million euros compared to 4.2 million euros in 2016. Overall, the firm in 2017 employed a staff of 122. Export sales in 2017 amounted to 33 million euros compared to 38.9 million euros a year earlier.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Energy Commercial

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ZENIΘ

The 1st provider of integrated energy in Greece ZeniΘ, the evolution of AERIO THESSALONIKI – THESSALIA, which has won the trust of hundreds of thousands of consumers, is the leader supplier of natural gas in Greece in the number of connections and the first company in Greece which offers integrated energy services to households and businesses. Since 2000, it has been successfully operating in the natural gas market and in 2017 entered the electricity market, by becoming the 1st integrated energy provider in the country, building upon the strong relations of trust it has established with its customers.

Shareholders of the company were from 2000- 7/2017 the Public Gas Corporation (DEPA) and the Italian energy giant ENI, which held 51% and 49% of ZeniΘ, respectively, with the second one also having the management of the scheme. Since 20/07/2017, Eni is the sole shareholder of the company.

The proposal of the company under its new brand, ZeniΘ, is a 360o offer in power services, in the standards of the global respective services. Customers indeed welcomed the launch the first DUAL ENERGY service in Greece, ZeniΘ DUAL ENERGY, which allows the consumer to enjoy combined energy- electricity and gas. Apart from the mentioned ZeniΘ DUAL ENERGY, company launched a series of new, unique and innovative products, understanding the different needs of the customers by utilizing its long experience in Greek energy market and the international know-how of Eni – these being the fixed power packs POWER HOME PACK and GAS HOME PACK, ensuring that electricity and gas bills are without surprises, and the new ZeniΘ POWER HOME STUDENT product, for the student community, which provides 2 free monthly fee for the electricity bill in the summer months. ZeniΘ also introduced the POWER HOME MAX electricity product, aiming at all household electricity consumers in need of high consumption and at the same time low energy billing.

More to the above, ZeniΘ has created services that give added value to the customer by showing that the company support his family expenses, as a reward of his trust – these being the EF ZHN Health Card, which provides access to 3,000 healthcare providers nationwide with free check-ups and health services at preferential prices for a whole year and in cooperation with AXA, the free 24/7 HOME EMERGENCY service to meet the technical needs of the home and business of all our customers.

On ZeniΘ website, www.zenith.gr, consumers can be informed about the natural gas and electricity products, ZeniΘ DUAL ENERGY service, add- on services and offers of the company. ZeniΘ has 7 stores, a call center (18321) and is the first company in the industry with full presence on all social media platforms (Facebook, LinkedIn, Instagram and Twitter), ensuring immediate and valid communication with consumers.

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Contact Details 26th Octovriou 54-56, 54627, Thessaloniki Τel.:+30 2311223056 Fax: +30 2311223045 Website: www.zenith.gr I 161 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Paper Products Industrial

MEGA DISPOSABLES SA

From Inspiration to Innovation

Mega Disposables is one of the largest manufacturing companies of personal hygiene products in Europe, holding today a leading position in the overall category of personal hygiene in the Greek market. Our company was founded in 1980 as a small manufacturing unit of ear swabs. It started off as a family business and continued to grow to reach today nearly 600 employees. Committed to the company’s mission to provide consumers with superior value, our people do their very best each and every day to create products that successfully combine excellent quality with innovation. Today, following an on-going growth, we have achieved a strong extrovert perspective, experiencing international recognition.

We have gradually increased our product portfolio to encompass all categories of personal hygiene while investing in state-of-the-art technology, top quality control systems, and well-qualified personnel. Our complete product range focuses on items that constitute basic daily necessities that are integral to healthy daily living. Our core product categories include: Baby Care products, Feminine care products, Adult incontinence products and Personal Care Products for the entire family.

With a portfolio of well-known brands, such as: EveryDay, Pom Pon, BabyCare, Babylino, Tipers, Wet Hankies, MEGA, Sani, that hold leading positions in the Greek market, but also a strong presence in four continents, we have built a special bond of trust with consumers.

Excellent quality, innovative product design, exceptional skin-friendly properties, respect to the needs of the consumer: Firm commitment to these high standards have allowed MEGA to gain increasing loyalty of consumers, uninterrupted trust of retailers in Greece and abroad for both branded products and private labels, but also important cooperation with large multinational companies in the field of personal hygiene products, that have entrusted MEGA with the production of their very brands, under contract manufacturing.

INNOVATION AND SENSITIVE CONCEPT Innovation is embedded in the DNA of Mega Disposables. By creating the Sensitive Concept, the company has introduced a unique proposition in personal hygiene, ensuring complete protection, with the utmost respect to the needs of the skin.

As a definite value in personal hygiene, the Sensitive Concept was created exclusively by MEGA in Greece, with a view to offer not only top absorbency levels, but also exceptional skin-friendliness properties. In 1997, we created a truly innovative product: the first “Sensitive” sanitary napkin worldwide, with a hygienic skin-friendly top sheet made of fibers. The response of consumers to the EveryDay Sensitive napkin was such that EveryDay became the fastest growing brand in its category in Greece ever since its launch, today enjoying exceptionally high consumer loyalty. Since then, the “Sensitive” product design has been applied to our entire product range and now includes baby diapers and wipes, incontinence products etc., with proven care for skin and certified skin-friendliness by internationally trusted dermatological institutions and organizations (eg. OEKO-TEX®).

PRODUCT QUALITY AND SAFETY At MEGA, for 38 years now, we have been creating products of exceptionally high standards, based on a product quality control and certification system comprising the Internal QA System, which is continuously upgraded and fully automated. Moreover, we cooperate with approved laboratories and official certification institutions specialized in products of our sector. Our Quality Assurance (QA) system consists of an integrated control system that has the ability to monitor product development at all levels of production and to fully control the performance of machinery and production units.

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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 162 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Metal Products Industrial

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CROWN HELLAS CAN SA

Upgrading production facilities annually CROWN Hellas Can was founded in 1965 by the multinational groups of companies Metal Box (England), Continental Can (USA) and Carnaud (France), as well as the Greek banks ETVA and National Bank of Greece. The company’s Corinth plant was built in 1965 and the Thessaloniki factory in 1969. The company manufactures beer and soft drinks containers and ends, food cans and aerosol cans and ends.

The Corinth plant produces containers and ends, while the Patras factory makes only containers for beer and soft drink packaging. The containers produced are of a “two-piece” type.

The main raw material used in these two factories is aluminum. The configuration of cartridge barrel is made by using the latest technology applications. In addition, the Corinth plant features a special configuration container production unit (shaped cans), operated in collaboration with a major customer. The Thessaloniki plant produces containers for food packaging (fruit, tomato, meals, etc.) and aerosol containers. The containers produced are of a “three-piece” type. The main raw material used is tinplate. Tinplates are delivered in plain sheets, lacquered or lithographed, which are then cut into pieces (depending on the desired size) and formed into a cylinder by welding the side seam. Containers are available with conventional ends and easy open ends (Easy Open).

Beer and soft drink sales in 2017 (in product units) rose by 5.2% compared to 2016, driven by a significant increase in export volumes to independent customers but also to other Crown group companies. Sales of food containers in the same year mounted 18.8% y.o.y, mainly as a result of an increase in sales volume in 2017.

With regard to investments, for yet another year Crown continued to invest in its three privately-owned factories, aiming at expanding the variety of products produced, cost reduction through product design changes to improve materials utilization, energy saving, implementation of good industrial practices and automation, to ensure quality of products and food safety, as well as improve safety conditions for employees. Investments in 2017 were made in all three factories, mainly in production lines, valued at 1.4 million euros, adding up to an overall 24.7 million euros spent in the last five years.

In FY 2017, the firm posted an increase in sales by 8.6% at 166.2 million euros. Earnings before tax amounted to 4.2 million euros, compared to 3.34 million euros in 2016. EBITDA rose 17.5% compared to 2016, at 6.87 million euros. In 2017, the company’s staff numbered 399 employees.

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Contact Details 57A Ethnikis Antistaseos St. 15231 Halandri, Athens, Greece Tel.: +30 210 6799100 Fax: +30 210 6799154 Email: Georgina.KASIMATI@eur.crowncork.com Website: http://www.crownhellascan.gr I 163 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Food Products Industrial

E.J. Papadopoulos SA

In the heart of Greek consumers for almost 100 years

Ioanna Papadopoulou, President & CEO

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Contact details 26 Petrou Ralli Ave., 118 10,Athens, Tel: +30 210 3482000 Fax: +30 210 3421225 E-mail: info@papadopoulou.gr Website: http://papadopoulou.gr I 164 I

For 96 years, Papadopoulos SA has occupied a special place in the hearts of Greek consumers, offering quality products of high nutritional value. Being a 100% Greek company, Papadopoulos is among the country’s largest businesses in the food sector. Papadopoulos is the market leader in the biscuit industry and a strong player in the bread substitute segment (Rusks, Breadsticks, Krispies). More specifically, the company ranks second in the overall rusk market and is a leader in the category of premium rusks.

Papadopoulos owns four production sites in different parts of Greece (Athens, Thessaloniki, Volos, Inofyta), as well as a central warehouse in Aspropyrgos, west of Athens, all certified and operating according to the International Quality Management Standard ISO 9001:2015, Food Safety Standard ISO 22000:2005, and the HACCP system. These certified standards apply to all company activities in administration and production, as well as in commercial activities.

With a current staff of approximately 1200, Papadopoulos operates three sales departments across Greece in: Athens, Thessaloniki and Volos, mid-eastern Greece. Distribution in all other parts of the country is carried out by a network of local partners. A total of 200 sales representatives and merchandisers work in the field each day, along with a number of wholesalers, in order to ensure the wide distribution of the company’s products.

In 2017, the company reported a slight rise in sales to 148 million euros, compared to 142 million euros a year earlier. Pre-tax earnings inched up to 10.6 million euros against 10 million euros in 2016.

In 2017 the company continued to invest in its products by launching promotional actions in stores, launching new products such as Oat Beurre, Papadopoulos Multigrain Breadsticks, Traditional Choriano with Oats and Barley, and new snackpack packaging. It also entered new partnerships with Elais-Unilever Hellas and EVGA to produce and market of the new Ice Cream with Petit Beurre Papadopoulos, as well as the “4x4” ice cream sandwiches with Papadopoulos Sandwich Biscuits. With regard to exports, the implementation of the corporate strategy was successfully pursued, mainly based on restructuring and development of the distribution network and further strengthening of the product promotion action plan. The company’s international business continues on a dynamic growth path, with the main goal being branding penetration of products into Organized Retail Networks, with a focus on European, Middle Eastern and North American Markets. As a result, Papadopoulos is now active in more than 45 countries worldwide, and in 2017, it saw annual export volume rise 14.4%, while export sales jumped 18%. The firm’s Caprice brand enjoys a remarkable momentum and remains its most popular export, marking a 22.2% growth in volume in 2017, compared to a 6.4% increase in volume for other export products.

E.J. Papadopoulos SA owns four production sites in different areas of Greece (Athens, Thessaloniki, Volos and Oinofyta), as well as a central warehouse in the west of Attica (Aspropyrgos area), all of them certified and operated according to the International Quality Management Standard ISO 9001:2015 and the Food Safety Standard ISO 22000:2005, including the Hazard Analysis Critical Control Points (HACCP) system. The above certifications apply to all company’s activities, whether administrative, production or commercial.

E.J. Papadopoulos SA currently employs approximately 1,200 people.

It is the leader in the biscuit industry and a strong player in the bread substitute segment (Rusks, Breadsticks, Krispies). More specifically, the company ranks second in the overall rusk market and is a leader in the category of premium rusks. Fostering a spirit of innovation and growth, along with a pioneering outlook, the company continues to expand into new product categories! In 2011, the company created a revolutionary product in the field of cereal bars, the Digestive Bar, the first ever cereal bar to be made with biscuits. In 2013, the company extended its presence in the Greek market with the launch of packaged sliced bread.

It has 3 sales departments across Greece, and specifically in the cities of Athens, Thessaloniki and Volos. Product distribution, at the rest of the country, is handled by a network of local partners. A total of 200 sales representatives and merchandisers work in the field each day, along with a number of wholesalers, in order to ensure the wide distribution of the company’s products.

Papadopoulos company is currently present in more than forty countries across five continents – with the Caprice brand leading the way –, while Southeastern Europe, along with Cyprus, constitutes an area of strategic growth. E.J. Papadopoulos SA has received numerous awards at both international and national trade fairs. For 96 years now, the company’s tasteful and highly nutritional products have been capturing consumers’ hearts.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Cosmetics Industrial

SARANTIS GROUP

A bright example of business excellence and growth through investments Kyriakos Sarantis, –CEO and Vice-Chairman

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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 has become one of the most important suppliers in the FMCG market. In spite of difficulties in the business and financial environment, the firm has an impressive track record of double-digit earnings growth rates and manages to generate liquidity and net cash flow, thus fueling its growth and financing its investment plans.

The year 2017 has been another successful year for the Group, as deep knowledge of the market, modern consumer trends and needs, as well as new product launches supported by an effective communication plan, contribute to strengthening the Group’s presence in the distribution channels. In 2017, the Group posted sales of €343 million, EBITDA of €40 million, up 10% compared to the previous financial year, and net profit surged 27% to €28.6 million.

The Group’s product portfolio includes over 80 well-known brands that are milestones in their class.

NOXZEMA, CARROTEN, BIOTEN, ORZENE, STR8, BU, C-THRU, PROSAR, SANITAS, AVA, TEZA, PYROX, CAMEL and AFROSO are some of the firm’s own products, highly recognizable and with significant market shares. Moreover, through exclusive distribution agreements, the Group markets strong brands, such as LA PRAIRIE, PRADA, NINA RICCI, CARTIER, CAROLINA HERRERA, TRUSSARDI, JEAN PAUL GAULTIER, etc. The Group’s product portfolio also includes ESTEE LAUDER products through a joint venture between Sarantis and ESTEE LAUDER COMPANIES. The Group’s Health and Care Division is active in the field of vitamins, dietary supplements, diagnostics and cosmetics, and represents and produces major brands with leading positions, such as LANES, BIO OIL, CLEARBLUE, PIC, SOLENE, and ORTIS. The primary objective of the Health and Care Division is to continuously strengthen the leading position in its strategic categories of activity through brand upgrading, end-user investment, pharmacist and specialist training, and development of the point of sale.

The Group’s international activities include 12 subsidiaries in Europe: Poland, Romania, Bulgaria, Serbia, Czech Republic, Slovakia, Hungary, FYROM, Bosnia and Herzegovina, Portugal, Ukraine and Russia, while exports span to more than 35 countries.

The Group’s strategic priorities focus on developing new products, expanding geographically, increasing economies of scale, balancing costs, exploring acquisitions that can provide added value, and re-investing in high-yielding activities.

In this context, the Group in early 2018 concluded two acquisitions: INDULONA cosmetics with a significant presence in Slovakia and the Czech Republic and ERGOPACK, a producer and distributor of household products with activities in the markets of the Ukraine, Russia and neighboring CIS countries through which the Group makes its entry into a new, promising geographic territory.

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 165 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION PHARMACEUTICALS Industrial

DEMO S.A.

More than 50 years of dynamic presence in Greece and internationally

Dimitrios Demos, Vice President

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Contact details 21st km Athens-Lamia National Road, 145 68 Kryoneri, Attica, Greece Tel.: +30 210 8161802 E-mail: info@demo.gr Website: www.demo.gr I 166 I

Demo SA is an international industrial and commercial organization active in the development, production and promotion of pharmaceuticals. The company’s plant in Kryoneri, Attica, is the largest in SE Europe and one of the world’s largest injectables plants with ultramodern facilities of 45,000 square meters, including a highly-advanced Quality Control Lab. Demo is a leader in Greece’s hospital sales (in number of items) in injectable products of all types, and has an extensive research and development program for controlled release injectables. In the private market, the company’s portfolio consists of prescription drugs such as cardiological, oncological, pneumological, gastroenterological and urological, as well as medical devices.

DEMO has faithfully served its export orientation in recent years, with its sales network expanding to Europe, Asia, Africa, the Middle East, South America and Oceania. The company exports 81% of its annual output and is rapidly expanding its range of products to international markets along with timely and safe delivery. It is internationally recognized as one of the official suppliers of the United Nations, UNICEF, World Health Organization, MSF and the International Red Cross. Numerous other reputable agencies of other countries, such as PIC/S (Pharmaceutical Inspection Co-operation Scheme), whose members are European and Asian countries, Australia, Argentina, etc.; Korean-FDA; Brazilian Drug Agency (ANVISA); GCC (Health Minister’s Council for Cooperation Council States); and the health authorities of countries such as Jordan and South Africa, are constantly certifying Demo products.

These international successes come 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 1,800.

Demo’s R&D and Quality Control Labs are equipped with state-of-the-art instruments and staffed with the best graduates of Greek and international universities.

The company’s on-going investment program is expected to conclude by mid-2019. More specifically, Demo has upgraded and expanded all of its production lines in order to increase capacity. In figures this means that the company over the last 10 years has invested more than 60 million euros (of which 20 million euros in the last three years) in its production installations, both for boosting production capacity and automating production processes and controls.

In 2017, the firm embarked on the construction of its fourth plant, to allow Demo expand warehouses and install a variety of new machinery. Out of an investment budget of 60 million euros, 10 million euros have been invested in research and development of new products. In addition, in early 2019, the company announced the construction of a new glass bottle and lyophiliser production plant with a capacity of 150 million bottles in liquid form and 20 million vials in lyophilized form. It is an investment that will make Demo one of the three largest lyophilizer producers in Europe, and is part of the company’s new investment plan for the period 2019-2022, totaling 30 million euros.

The company has already developed 7 new products in its labs, while it has designed and is preparing to launch another 21 oral medications and food supplements in the Greek market. At the same time, it has made 182 new approvals internationally. Finally, Demo currently employs a staff of 870, while its social responsibility program is based on four pillars: Environment, Ethical Marketing, Employees and Society focusing on children and vulnerable groups.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Food Products Industrial

Spyros Theodoropoulos, Chief Executive Officer

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CHIPITA A.E.

A Greek industry with strong global presence Chipita was established in Greece in 1973 as a company producing and marketing savoury snacks. The main products back then were our Extra cheese-flavoured corn snacks, subsequently followed as of 1988 by potato chips. In 1991, the market saw the arrival of our 7DAYS croissant followed shortly thereafter by the 7DAYS mini croissant. A few years later -in 1995- the innovative savoury Bake Rolls hit the markets, rapidly establishing themselves as a consumer favorite. At about the same time, Chipita started establishing itself as the international company it remains to date, either by setting up its own subsidiaries or by entering into strategic partnerships, either with major international or strong local firms. Thus, Chipita has been operating outside Greece since 1996 by setting up manufacturing plants in Bulgaria and Egypt, followed by Poland, Romania, Russia, Saudi Arabia, Turkey, Malaysia and Mexico. At the same time, Chipita also set up commercial offices in 8 countries: Czech Republic, Germany, Hungary, Serbia, Slovakia, Ukraine, Belarus and UK. Chipita is currently present internationally in 3 major product categories - croissants and similar dough products, bread based baked snacks (Bake Rolls) and other products. The firm’s international brands are: 7days, Fineti and Chipicao. Local brands are: Molto, Spinspan, Chipita Chips, Tsipers and Extra. The Company’s goods, produced in 16 manufacturing plants in 10 different countries, are delivered to consumers in a total of 56 countries, either directly or through strategic partnerships.

More specifically, in Greece the company operates 2 manufacturing plants (in Lamia and Larissa). It operates one plant in Sofia (Bulgaria), one in Constantinople (Turkey), one in Bucharest (Romania), one in Tomaszów Mazowiecki (Poland), one in Saint Petersburg (Russia) and one in Mumbai (India). In total, Chipita owns 7 production plants with a total of 37 production lines. Chipita also operates 9 more manufacturing plants through joint ventures: 5 in Cairo, Egypt; 2 in Jeddah & Riyadh, Saudi Arabia; one in Batu Pahat, Malaysia, and one in Monterey, Mexico. A new strategic deal with India is expected to start operating in 2019.

The company uses the best raw materials available and applies rigorous quality controls throughout the production process in order to provide safe, top quality products. Chipita has implemented the following standards and systems: ISO 22000:2005 Food Safety Management System, ΑΙΒ Standards (American Institute of Baking) and IFS Food System (International Featured Standard).

In 2017, the company reported sales of 117 million euros against 109 million euros a year earlier. The Group’s overall sales in the same year rose to 460 million euros compared to 402 million euros in 2016. Pre-tax profit in 2017 amounted to 38.2 million euros for the company and to 34.2 million euros for the Group.

Contact Details 12th km Athens-Lamia National Road, 144 52, Metamorfosi, Attiki, Greece Tel.: +30 210 2885000 Fax: +30 210 2885036 Website: http://www.chipita.com I 167 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Food Products Industrial

KOLIOS S.A.

A leading feta cheese Wproducer

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Contact Details Limnotopos, Polikastro, Kilkis, Greece GR-61200 Tel.: +30 23411 38739 Email: exports@kolios.gr Website: www.kolios.gr I 168 I

KOLIOS SA Greek Dairy specializes in the production of excellent quality cheese products since 1948. As one of the most dynamic Greek food companies and one of the best equipped dairies in Europe, KOLIOS holds a leading position in Greek cheese production and in Feta PDO exports. The firm’s product categories include: Feta PDO and white cheeses, organic products, PDO products, authentic Greek yogurt, Cream cheese, Vegetable fat products, Kasseri PDO and yellow cheeses, and Vegan products. Απόδειξη της ανωτερότητας των προϊόντων της αποτελούν και οι βραβεύσεις που λαμβάνει κάθε χρόνο από μεγάλους έγκριτους διαγωνισμούς. Συγκεκριμένα, το 2018 παρέλαβε από το International Taste & Quality Institute τρία αστέρια για το Authentic Greek Yogurt 10% fat, two stars for Authentic Greek Yogurt 5% fat and Authentic Feta PDO cheese and one star for Authentic Greek Yogurt 0% fat. ++ Proof of the superiority of Kolios products are also the awards that the firm receives annually from big and prestigious competitions. Specifically, in 2018 the International Taste & Quality Institute awarded Kolios with three stars for Authentic Greek Yogurt 10% fat; two stars for Authentic Greek Yogurt 5% fat and Authentic Feta PDO cheese; and, one star for Authentic Greek Yogurt 0% fat. Moreover, the company received the silver award for its Authentic Barrel Aged Feta PDO (Salad cheese cubes, under PL Brand) and the bronze award for the Authentic Feta PDO cheese (under PL brand) from the International Cheese & Dairy Awards.

KOLIOS processes fresh sheep’s, goat’s and cow’s milk in the ultra-modern factory of the company, which covers 52,000m2 of production facilities. It is located in Limnotopos of Polykastro Kilkis, in an idyllic farming area, in the heart of the Northern Greek region of Makedonia, 60 km from Thessaloniki. The milk is collected daily from selected and controlled farms of Greece by the company’s fleet of fully-automated and isolated tank-trucks.

Notably, Kolios’ integrated quality management and product hygiene management systems are certified according to the most stringent international standards: ISO 22000, ISO 9001:2008, BRC and IFS. It also has Agrocert certifications for PDO products and Bio Hellas certifications for organic products.

KOLIOS products are exported to 50 countries in Europe, USA, Australia, Middle East, Africa and Asia, and have gained a prominent position in the shelves of some of the biggest retail stores worldwide.

In 2017, the firm reported a slight rise in sales to 98 million euros, against 94 million euros a year earlier. Pre-tax income dropped to 1.3 million euros compared to 2.8 million euros in 2016.

www.newtimes.gr

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION 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 170 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 2019

LEADERS IN EXTROVERSION Food Products Industrial

KRI KRI SA

From Serres to around the world

Panagiotis Tsinavos, President & Managing Director

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Contact details 3rd km Serres-Drama National Highway, 62125, Serres, Greece Tel.: +30 23210 68300 Fax: +30 23210 68311 E-mail: info@krikri.gr Website: www.krikri.gr I 172 I

KRI KRI dairy industry’s roots date back to 1954 when George Tsinavos, the company’s founder, opened a small pastry business in Serres, northern Greece, which produced and distributed ice cream and confectionery products around the town. The ’80s and ’90s defined the company’s subsequent course. In 1987, the company constructed a new factory that also led to the production of yogurt, made of fresh sheep and cow milk collected from the Serres area. In the mid-90s, Kri Kri set up a branch in the Athens area, a move that bolstered its distribution network for nationwide market coverage. Nowadays, with Panagiotis Tsinavos as president and managing director, the company’s products, ice cream, yogurt and fresh milk, are distributed extensively to both supermarkets and smaller retail outlets.

Kri Kri is located in northern Greece only 3km away from the city of Serres. It consists of two different plants, the dairy and the ice cream production plants, both operating with stateof-the-art machinery. The ultramodern yogurt production plant consists of fully automated production lines, strictly isolated from external conditions, all fully controlled using X-Ray inspection systems. It produces all different types of Greek yogurt. The ice cream production plant is equipped with state-of-the-art production lines, which allow for an annual production capacity of 100 million servings during the ice cream season. It consists of fully automated production lines for all types of ice cream. The current staff numbers some 360 employees.

Kri Kri began its exporting activity in 2000 with the aim of developing its presence in both European and international markets. At present, the company exports the majority of its range of products to more than 24 countries in Europe, Balkans and the Middle East, with the most important markets being England, Italy, Germany, the Netherlands and Belgium.

In the first half of 2018, the company saw its exports jump 45.8%, accounting for 33.3% of overall sales.

In 2017, the firm reported a rise in sales to €79.25 million compared to €66.57 million a year earlier, up 19.0%. Ice cream sales rose by 9.1% to €21.61 million compared to €19.82 million in 2016. Sales of dairy products increased 23.3% to €57.45 million. Exports accounted for 30.4% of overall sales, jumping 53.6%. Pre-tax earnings rose to €9.9 million compared to €8.2 million the previous year, up 21.2%, while net profit after tax amounted to €7.34 million from €6.24 million in 2016, up 17.6%. EBITDA rose to €12.45 million compared to €10.99 million in the previous year, up 13.3%.

In the first nine months of 2018, sales rose to €78 million compared to €65 million in the same period a year earlier. Similarly, pre-tax earnings rose to €14.9 million against €10.7 million in the corresponding period in 2017.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Food Products Industrial

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Haitoglou Bros S.A.

When tradition meets quality and innovation Haitoglou Bros SA was established in 1924 when the Haitoglou family arrived as refugees in Thessaloniki, Northern Greece’s largest city, and started a small business to make halva and tahini on a recipe based on family tradition. Pretty soon, Haitoglou halva became a household product and the Haitoglou brand a synonym for premium, healthy and tasteful confectionery.

As its passion for quality remained strong, Haitoglou started growing and introduced new products, evolving into a leading food manufacturer.

Today, more than 90 years on since founding, the firm is proud of its established brands, two cutting-edge technology production units (located on the outskirts of Thessaloniki), with more than 80,000sqm of purpose-built facilities on a total plot of 230,000sqm, and more than 400 employees.

Haitoglou Bros is one of the largest sesame processors globally (largest in Europe), buying and utilizing 4% of world traded sesame. Using custom-developed, state-of-the-art processing equipment, the company processes many varieties of sesame seeds, without the use of chemicals at any stage of production.

The company is also one the largest food manufacturers in Greece, with a leading position in the domestic market in several sesame products, perfectly integrated into the Mediterranean Diet, such as halva, tahini (sesame paste), sesame oil and sesame bars. Overall, the company produces a total of 1,500 SKUs, including products such as wafer rolls, jams and various spreads (sesame spreads, hazelnut spreads, cocoa spreads and peanut butter).

Haitoglou is also amongst the top brands globally, with strong export activity (50% of total production) to more than 50 countries worldwide (led by the US, UK and EU markets).

The longtime experience and cooperation with some of the top retailers and food manufacturers from around the globe has given Haitoglou in-depth know-how and the flexibility to customize products to meet customer requirements, specifications and packaging needs. The company applies a product quality assurance system in accordance with EN ISO 9001:2008, an environmental management system in accordance with EN ISO 14001:2004, a food safety and quality system (IFS6: International Food Standard version 6, Higher Level), as well as a HACCP system, which more than satisfies the strictest requirements for food industries.

In 2017, the food company reported a rise in sales to 70.8 million euros compared to 69.3 million euros a year earlier. However the firm saw its loss widen to 4.3 million euros against 2.2 million euros in 2016.

Even though exports include the entire range of Haitoglou’s products, the 90-year-old Macedonian Halva is by far the firm’s most popular export, favored by consumers around the globe. Major destination countries include America, Canada, Australia, EU, Russia and markets in the former Eastern Europe, Middle East and Asia. Such performance is regarded as a natural consequence of the company’s continued investment in state-of-the-art equipment, research and development of innovative products, as well as continuous training and staff development.

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Contact Details 57009 Kalochori, Thessaloniki - Greece Tel: +30 2310 389700 Fax: +30 2310 751747 E-mail: info@haifoods.com Website: http://www.haifoods.com I 173 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Beverages Industrial

LOUX MARLAFEKAS SA

Loux: Innovation and uncontroversial quality

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 174 I

Loux – Marlafekas, the largest, Greek-owned, soft drink and juice company in Greece, holds firmly the 2nd place in soft drinks market share in total and a leading place in flavored soft drinks among other multinational equally known companies in the sector.

Regardless the challenging and competitive circumstances in the market, Loux has achieved steady growth, standing out among the most successful Greek companies. In 2018, Loux’s sales reached over €34million, with an increase of 3,76% compared to 2017, proving the stable profitability that company follows.

Today, the firm operates three company-owned, state-of-the-art facilities in the Peloponnese, while a new logistics center was added in Attica in 2008. Loux currently employs a staff of 130 -including external workers- in Achaia, Athens and Thessaloniki. This is complemented by a nationwide distribution network comprising of approximately 500 representatives, which enables Loux products to reach over 75.000 points of sale. During the past decade, Loux has achieved not only to maintain its working positions but also to increase its workforce by 102%.

Furthermore, Loux has zero bank debt, is self-financing its investments and attempts to maintain its transparent profile. An upgrade investment plan, valued at more than €20 million since 2007, including the recent investments of € 6 million in a new production line, enabled Loux to keep up with growing demands of the market. The firm is also planning a 2 million euro worth investment in technological equipment for 2018-2019, while scheduling investments of a generic character as well.

Today, Loux’s export activity takes place in 22 countries worldwide, from the US to South Korea.

The company aspires to increase its export activity, as markets in the Nordic countries, in the Middle East and in the Central Europe are expressing interest in Loux products.

Loux’s stable investments in advanced research and innovation, highlight its pioneer position in the market, which was strengthen by the new generation of innovative light soft drinks loux plus’ n light, with 100% natural sweeteners, high level of vitamin C in orange juice and in lemon juice and 60% less calories, launched in 2016. The company also launched in 2017 the loux plus ‘n light tea, in peach, red fruit and lemon flavors following the philosophy of plus ‘n light products, introducing a new category in the market and an innovation at international level.

The significant presence of Loux in the market since 1950, has led to receive multiple distinctions over the years. One of the most important highlights was in 2014 when Loux was named as the “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. In addition, Loux’s products were the first Greek refreshments to be selected as the Top Superbrand in the category of non-alcoholic beverages, at the competition of “Superbrands”. Furthermore, Loux achieved double success at Made in Greece Awards 2017, receiving an award for “Most Famous Greek Product” and a prize for “Excellence in Business”, while at 2018 was also honored for its business excellence at the Creative Greece Awards 2018.

Loux focuses and expands its core values by supporting social, sports and cultural initiatives through an extended social responsibility program. Loux has actively supported the “Mission”, the Charity of the Holy Archdiocese of Athens, providing 50,000 meals to people living below the poverty line, as well as voluntary organizations such as “Xamogelo tou Paidiou”, OKANA, “Agkaliazw”, Aimodotis”, ELEPAP, “Alma Zwis”.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION COMMUNICATIONS & ELECTRONIC SYSTEMS FOR DEFENSE & SECURITY Industrial

George Troullinos, Chief Executive Officer

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IDE - INTRACOM DEFENSE ELECTRONICS

Unique high-tech expertise with significant exports IDE (INTRACOM Defense Electronics), the leading electronics and communication systems company in defense and security in Greece, possesses unique know-how in design, development and manufacturing of products that incorporate state-of-the-art technology in tactical communication systems, information security, command, control and communication systems (C3), missile electronic systems (data links and telemetries), surveillance, reconnaissance and security systems, hybrid electric power and electric energy storage systems, various unmanned vehicles (UAVs and USV) as well as advanced software for military applications.

IDE invests annually a significant amount in R&D activities for the development of cuttingedge defense and security systems and its products and services are deployed in the Czech Republic, Cyprus, Finland, France, Germany, Greece, Indonesia, Lithuania, Luxemburg (NATO Support Agency), Spain, Sweden, UK and USA. The company participates in joint multinational development and productions programs, in co-operation with major international defense systems manufacturers and also participates in a significant number of international programs, achieving high levels of local added value and supporting the Hellenic industrial sector by allocating a considerable number of contracts to local subcontractors.

In order to facilitate the rapid design and development of technologically advanced, highquality 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. As a result of its technological know-how, Program Management, Quality Assurance system and System Development, IDE has established industrial agreements with leading defense manufacturers with high percentage in export activities. The ’s experience is constantly being enhanced through participation in new programs, a factor that makes IDE a key company in defense systems in Southeastern Europe and a valuable partner for the implementation of joint cooperations in Greece.

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Contact Details 21st km Markopoulou Ave., 19441 Koropi, Attica, Greece Tel.: +30 210 667 8614 Fax: +30 210 667 8060 Email: sopap@intracomdefense.com Website: www.intracomdefense.com I 175 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION COPPER 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 9001:2015 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’s brass bars and tubes extrusion plant is certified as per ISO 14001:2015 and 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 copper

alloy rods (round, square or hexagonal)

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Contact details e-mail:info@fitco.vionet.gr website: www.fitco.gr I 176 I

● Copper alloy sections ● Copper alloy flats ● Copper alloy wire

● Copper alloy tubes ●C opper alloy wire and net

for fish farm cages

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Chemical Products Industrial

Megara Resins S.A.

Making R&D a competitive advantage

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Megara Resins SA 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 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), west Peloponnese and Vathi Avlidos near Chalkida. “AKFA”, the latter, is the result of a strategic joint-venture with Turkey partner “Ak-Tas Dis Ticaret AS”, where in addition to its production units, the plant site includes 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.

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.

In 2017, the company reported a major rise in consolidated sales to 71 million euros, up 23.5% year-on-year, attributed mainly to organic growth and intense export activity with key presence in more than 57 countries, accounting for over 80% of sales.

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Contact Details 38th km NEOAK Highway, 19100, Megara, P.O. Box: 29 Tel.: +30 22960 83311 Fax: +30 22960 83335 E-mail: info@megararesins.com Website: www.megararesins.com I 177 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Pharmaceutical Products Industrial

UNI-PHARMA KLEON TSETIS PHARMACEUTICAL LABORATORIES S.A.

56 years of value creation in the pharmaceutical industry: A story worth telling!

The Tsetis Group of Pharmaceutical Companies (OFET), comprises two complimentary, dynamic pharma companies, UNI-PHARMA S.A. and INTERMED S.A., as well as a commercial company in Cyprus, Pharmabelle, that share parallel objectives, yet with a different focus.

Kleon Tsetis, a restless 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, including innovation highlights such as APOTEL® and SALOSPIR®, as well as technological challenges such as T4®.

The vision shared in Uni-pharma is to be among the leaders of the constantly changing pharmaceutical landscape, by offering

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Contact Details 14th km Athens-Lamia National Road, 145 64 Κifissia, Attica, Greece Τel: +30 210 8072512 Fax: +30 210 8078907 Website: http://www.uni-pharma.gr I 178 I

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, currently holding 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 potential with commercial partners and Academic Institutions alike, on a global scale, while tirelessly investing in technology and manufacturing excellence. Through undaunted efforts, Uni-pharma’s reach today extends to five continents and more than 60 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 Greece’s economy. In the field of research, the firm has expanded far beyond the realm of pharmaceutical technology where it already holds more than 30 patents, and is now 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 pharmaceutical field in recent years. The new facilities are a model for safety, efficiency and automation: Bioclimatic design, allows a significant reduction in the site’s energy consumption footprint, coupled with other best practices in the sustainability field, while being in full harmony with the surrounding environment; in addition, fully automated and digitized production and control systems maximize effort and output.

Excellence, Awards and Recognitions Throughout the years, Uni-pharma has received several Excellence Awards by numerous Institutions both nationally and internationally, either for its products or innovative business practices and procedures: EFQM Recognized for Excellence - 5 stars (Global Award Simulation Process). Having successfully applied the EFQM MODEL OF BUSINESS EXCELLENCE for more than ten years, and having developed a Continuous Improvement Process which has led to uninterrupted accreditations and distinctions in the field of Business Excellence, in 2017 UNI-PHARMA finally proceeded to the highest EFQM – “RECOGNIZED FOR EXCELLENCE” after a successful GLOBAL EXCEL-

LENCE 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 ensuring a healthy, safe and creative future for them and their families.

Diamonds of the Greek Economy - in the category ‘The most Admired enterprises’, for four consecutive years in 2015, 2016, 2017 and 2018, by New Times Publishing.

Excellence and Competition Award - in the field of Health-Medicine and Beauty, as part of the Salus Index Award Scheme 2018.

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.

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 of “DOMÉS” 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.

In Addition, Uni-pharma and InterMed are the only pharmaceutical firms among the list of 30 companies in Greece that on January 21st, signed the Memorandum of Establishment (Articles of Association) of the Global Compact Network Hellas.

Last but not least, the foundation of Kleon Tsetis supports with a large number of scholarships the new generation of scientists, creating the favorable conditions in Greece to contain the wave of young and brilliant Greek minds leaving the country (braindrain). ● 2018 vs 2017 Change (%) ● Sales: 62.2 million euros, up 13% ● ΕBITDA: 11 million euros, up 38% ● Pre-tax income: 4 million euros, up 78% ● Fixed assets: 105 million euros ●T otal investment the last 5 years: 80 mil-

lion euros

Investment plan: The management of Unipharma plans to spend more than 15 million euros in the years 2019-2021 for a number of investments, including Uni-pharma’s first historical factory (Athens-Lamia National Rd.) and the New Logistics Center.

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Industrial

Ioulia Chaida, Vice President

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Contact Details 7 Likovrissis St., 14452 Metamorfosi, Athens, Greece Tel: +30 210 2826825 Fax: +30 210 2818574 Website: http://iktinos.gr I 180 I

Superior materials Iktinos Hellas was founded in 1974 by architect Evaggelos Chaidas, with its main activity being the extraction, cutting and processing of marble blocks, and applications in architecture and sculpture, mostly for export. The firm is listed on the Athens Stock Exchange since 2000.

The Company holds concession rights for 12 quarries in Greece (mainly northern Greece) and currently operates 9 marble quarries in northern Greece and Peloponnese, processes and exports the famous and highest quality marbles Thassos, Volakas, Nestos and the unique marble “Golden Spider’’ from Mount Pangeo, which has been registered as a brand name. Iktinos Hellas has offices in Athens and Drama, two cutting and processing factories in Athens, one cutting and processing factory in Drama, as well as warehouses and showrooms and complete

Marble

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IKTINOS HELLAS S.A.

sales network.

Iktinos Hellas has the following subsidiaries companies: ● Marble Sector: Feidias Hellas SA (90%). ●W ind Energy Sector: IDEH SA (100%).

IDEH has constructed and operates a wind farm of 22MW. Also, it has set up four other companies to operate the wind farms. These wind farms are in the process of licensing. The total capacity of the new wind farms is 83MW.

●R eal Estate Sector: Latirus Enterprises Ltd.

(100%). It is a tourism and residential development of 2,800 acres in the coastal area of Faneromenis Bay in Crete, comprising of a hotel, spa, conference center, golf course, leisure craft marina and two residential areas.

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Chemical Products

Constantine N. Yannidis, BoD Chairman VITEX - YANNIDIS BROS S.A.

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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 182 I

A New International Strategic Alliance | Vitex with TeflonTM VITEX – YANNIDIS BROS SA is the largest Greek-owned manufacturer of architectural paints. In spite of the economic recession, VITEX continues to invest and expand.

In the period 2012-2018, the firm saw its growth rate jump by an approximate 48% in net sales, with a 20% increase in the number of staff. The company’s excellence and dynamic growth has been recognized for the second consecutive year, by the prestigious “Growth Awards” organized by Eurobank & Grant Thornton, as one of the Top 19 Best performing companies in Greece 2018, evaluated out of a pool of 8,000 companies.

Our trusted brands are briefly described below: ●V ITEX - an integrated architectural paints portfolio for decorative and protective solutions ●H ERMES - expertise in bituminous waterproofing membranes and asphalt varnishes

Industrial

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VITEX - YANNIDIS BROS S.A.

●V ITEXTHERM - certified External Thermal

Insulation System (ETICS) and anti-crack protection ●E UMARIA - yacht paints for outstanding durability in compliance with all international standards 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 enter 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 emulsion paint with innovative characteristics that included the very fastdrying time allowing for faster completion of painting projects versus competing products of the time.

The Group nowadays enjoys a significant presence in Southeastern Europe, with af-

filiated companies in Serbia and Bulgaria, while it exports to over 20 countries around the world.

The Group employs a staff of over 230 in R&D, sales, production, exports, marketing, quality control and product safety. VITEX has been the recipient of several prestigious awards, including Health & Safety awards, Best Hotel Supplier award, Diamonds of the Greek Economy award, DIY Awards, etc.

The production sites and buildings are fully privately-owned, a sign of the Group’s high capitalization. Facilities feature two individual production units, a logistics center, R&D lab and the Group’s headquarters.

On the production site, we have set high standards in terms of productivity, technology, health & safety and environmental performance. VITEX fulfils its commitments and adopts high occupational standards in health and safety processes according to the triple standards of Qual-

ity, 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 superior product 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 SA 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, Serbia, Malta and other Southeastern European countries.

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION RUBBER - PLASTICS

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Contact Details Heraklion: Road A/D, Industrial Zone, 71601 Heraklion, Crete, Tel.: +30 2810 381412 Athens: 38 Vassileos Konstantinou Ave., 19400, Koropi Attica, Tel.: +30 210 8900081 Email: info@megaplast.gr Website: www.megaplast.gr LinkedIn: www.linkedin.com/company/megaplast-group I 184 I

A pioneer in innovative packaging Megaplast is a world leading manufacturer of Perforated & Reinforced Stretch Films in the area of innovative flexible packaging.

The company was established in 1995 in Greece and supplies markets with a complete range of innovative packaging materials. Megaplast production facilities are located in Crete, while the R&D Center and headquarters are based in Athens, Greece.

The production site for Megaplast products is located in Heraklio, on the Island of Crete.

Apart from production lines, the firm’s facilities also include large warehouses for company stock not only in Greece but also in UK, Italy, Spain, Germany and USA, so as to better serve customers. Megaplast plant was especially designed to ensure High Production Quality while maintaining top-level safety standards and environmental protection.

The team of highly qualified professionals in Megaplast’s R&D center are working on some of the most exciting projects within the industry.

The product family of the company consists of two major categories: ● Perforated stretch films (AirOfilm) ● Fiber Reinforced stretch films (Fiber Film) Megaplast products are 100% recyclable of-

Industrial

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MEGAPLAST

fering at least 50% less plastic waste, superior pallet stability, excellent load safety and significant cost savings. All of them are of high added value and innovative, protected through international patents worldwide.

Megaplast has recently become a member of EUMOS (European Safety Logistics Association).

The company’s global sales network is supported by 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 Distribution Network has been also developed all around the globe (Europe, USA, Canada, South Africa, Australia, New Zealand, Middle East and Latin America).

Megaplast culture is guided by a spirit of excellence. Their nature as a growing business edifies their values and makes Megaplast a legacy to be preserved in the long term.

That is why the company gives real value to their customers through: ● Innovation ● Market Culture ● Entrepreneurship ● Adaptability & Flexibility ● Focus on long term Strategies

Megaplast Mission is to plan, develop, manufacture and market innovative, customerdriven superior packaging solutions that deliver measurable customer benefits.

Megaplast Vision is to become the premier leader in the global innovative flexible packaging market.

Megaplast objectives coincide with innovativeness, effectiveness, usability and quality of the products produced and distributed.

Megaplast Values: ● Reliability ● Integrity / Merit System

● Respect ● Teamwork Megaplast has been honored with many awards as one of the Greek enterprises that despite the market difficulties and challenges, continues to grow, show positive performance and support the economy of Greece.

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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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Cosmetics Commercial

INTERMED S.A.

Value for people, responsibility towards Society

InterMed was founded in 1996 by Kleon Tsetis, a restless 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 regard to international scientific developments and constantly expanding its product portfolio, which is prominent for 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 InterMed experienced and well-trained personnel, support the corporate strategy and its contribution to society.

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 and distribution of innovative pharmaceutical and para-pharmaceutical products, covering the daily, general and specific needs of modern humans.

Our Values: Tsetis Group of Pharmaceutical Companies is also proud of our values under the acronym phrase TÉLEIA. TÉLEIA Stands for Team, Ethos, Learning, Excel-

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Contact Details 27 Kaliftaki St., GR 145 64, Κifissia, Attica, Greece Τel.: +30 210 6253 905 Fax: +30 210 6253 906 Website: http://www.intermed.com.gr/ I 186 I

lence, Innovation Accountability, not only for our employees but also for society!

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 committed to research, since innovation is our daily concern, in order to offer solutions of high added value and quality.

The R&D 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 Manufacturing Principles (GMP) principles using raw pharmaceutical materials of pure grade.

To ensure excellence in its way towards quality, InterMed has been certified according to: ●E N ISO 9001:2008, for applying a quality management system in all processes, ●E N ISO 13485:2012, for applying a quality management system in development, production and distribution of medical devices. ●E N 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, some of these awards are listed below: EFQM Recognised for Excellence - 5 stars: Within the ten consecutive years that the company applies the EFQM Business Excellence Model, ΙNTERMED 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 the people in its staff as 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 24, 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.

Gold Award for the brand EVA MYCOSIS

at the BEST IN PHARMACY 2018. Eva Mycosis was awarded as the most innovative product of the Greek pharmacies.

Award as a “Diamond of the Greek Economy”, by New Times Publishing (July 2018).

“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, staged in Shanghai in June 2017.

Packaging Innovation Award 2017: Silver for the innovative design of the product Herbofix.

InterMed, and Uni-pharma, are the only pharmaceutical firms among the list of 30 companies in Greece that on January 2019, signed the Memorandum of Establishment (Articles of Association) of the Global Compact Network Hellas.

2018 vs 2017 Change (%) Sales: 22.5 million euros, up 14% ● Ε BITDA: 1.3 million euros, with zero loans.

In the past five years, InterMed has more than doubled its turnover to 22.5 million euros in 2018 against 10.4 million euros in 2013. ● ●

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Chemical Products Industrial

VIORYL S.A.

Exports accounting for 40% of annual sales 10% of the turnover on R&D activities

Nikitas Ragoussis, Managing Director of VIORYL S.A.

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Contact details 28th km Athens-Lamia National Road, Afidnes 190 14, Greece Τel: +30 22950 45 100 Fax: +30 22950 45 250 Email: vioryl@vioryl.gr Website: http://www.vioryl.gr/ I 188 I

VIORYL SA 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 labs) 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 Greek market leader, 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.

The company’s portfolio includes: Fragrances (industrial use), flavours (industrial use), ingredients, plant health (nutrition of plants and pest management, used in both conventional and organic farming) and insect repellent consumer products.

VIORYL’s sales in 2018 topped 23 million euros, demonstrating consistent year-over-year growth. R&D spending has reached 10% of annual revenue, with an investment plan for the years 2018-2020, valued at 3.5 million euros, including the installation of new production equipment and new warehouse in Thiva, and new R&D labs in Afidnes.

A substantial part of VIORYL’s growth comes from exports, which in 2018 accounted for some 40% of its total revenue. The company has presence in 22 countries in Europe, Middle East, Africa, Far East and North America, with further expansion planned.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION PHARMACEUTICALS Commercial

PHARMABELLE

Offering an extensive product portfolio of innovative pharmaceutical & parapharmaceutical products PHARMABELLE, the commercial company of Tsetis Pharmaceutical Group of Companies, was founded in 2014 in Cyprus, with the vision to offer innovative pharmaceutical and parapharmaceutical products in the Cyprus 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 Uni-Pharma and InterMed, and exporting to an extensive network worldwide.

PHARMABELLE provides an extensive range of services to meet our customers’ 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).

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Contact Details 10 Viotias St., Aradippou 7104, Larnaca, Cyprus I 189 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Food Products Industrial

Michail Almpantakis, CEO

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Contact Details Kalessa Maleviziou, Heraklion, Crete Tel.: +30 2810 821475 Fax: +30 2810 822787 Email: info@crete-oil.gr Website: http://www.crete-oil.gr I 190 I

CRETAN MILL S.A. - ALMPANTAKIS GROUP OF COMPANIES

Family tradition since 1866 Cretan Mill, member of Almpantakis Group of Companies, is a family-run business founded in 1866, based on a long tradition in the production, standardization and marketing of olive oil. Situated in Heraklion, Crete, we have created modern facilities to produce and offer a wide variety of extra virgin, virgin, organic, aromatic and special oils, all in attractive and well-designed packaging. Combining tradition and innovation, the company always seeks excellent quality, exquisite taste and high nutritional value, presenting unique commercial brands which have won awards for their quality in national and international competitions.

Since 2006, Cretan Mill operates in ultramodern facilities, where olive oil is produced, standardized and stored. Our company is a complete vertical production unit, consisting of five olive oil crushing units, a bottling factory and an olive oil pomace factory (since 2017), in order to use the olive core in an ecological way and produce our own olive pomace oil. Our great power in the market lies with stability and high quality of our products, offering the best value for money in the market, as well as on our experienced staff, who provide fast service and consulting support throughout the year. Moreover, the company is certified with quality assurance systems ISO22000, HACCP, IFS and BRC and

always handles the olive tree fruit with responsibility and respect.

Some of our most recent awards are: 2018 International Taste and Quality Institute (iTQi), for our extra virgin olive oil (EVOO) Kritikoi Elaiones and pdo Sitia (2 Gold Stars); 2018 London IOOC, for pdo Sitia; 2017 iTQi, for our EVOOs pdo Sitia, Kritikoi Elaiones (2016) and Agrelia (2016); London IOOC, Quality Award for our EVOOs Premium by Almpantakis Family (2017) and Kritikoi Elaiones (2016); OLYMP TASTE award for our EVOOs Premium by Almpantakis Family (2017) and Zero Two (2016); and, COPPER ELEA and GOLDEN ELEA awards at the Cretan Olive Oil Competition for our EVOOs pdo Sitia (2017) and Agrelia Organic (2017).

These awards are a significant recognition of the excellent taste and quality of our olive oil, distributed in Greece and all over the world.

Apart from our domestic sales, which account for 60% of annual turnover, Cretan Mill exports are a key factor in the firm’s growth, as they reach the 40% of turnover. Our vision is to globally promote the Cretan diet model and the high quality of Greek products. The philosophy of Cretan Mill by Almpantakis family is: “The olive oil which we offer to the consumer is the same that we use in our homes and offer to our children”.

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Food Products Industrial

ELVIDA FOODS S.A.

Elvida Foods Passion for qualitative and delicious authentic Greek Food!

Elvida Foods is among the leading companies in Greece in the production of Authentic Gyros, Souvlaki and meat based products. It is the company that initiated the industrial production of Frozen Gyros and Souvlaki 16 years ago. ● I n 2002, “Hellenic Gyros” established one of the first production lines of Gyros in Greece.

The production line for us is not only mass production but also standard level of quality, specifications of products, and advanced production methods. With the addition of the excellent choice of ingredients and the personalized customer service, all resulted “Hellenic Gyros” in being the market leader in just a few years. ● I n 2006 the shareholders structure changed and new development paths were created. Other product categories were launched to be addressed not only to Grill Houses but also to restaurants, hotels and the retail market. Hellenic Gyros, our historic brand name, remained and we initiated Nostimost as an additional brand name dedicated to retail. At the same time we changed our corporate name to Elvida Foods to reflect our new product lines and expand our presence to new export markets.

Since the first years of its operation, ELVIDA FOODS remains focused to the high quality and safety of its production lines. They are all certified according to ISO 22000, IFS, BRC standards. Due to automatic traceability and the minimization of human intervention, we can support with real data the constant high quality of all of our products. It is our pride that the ELVIDA FOODS factory has been successfully audited 3 times for best practices by the European Federation of Food Safety Authority (EFSA). ● In recent years, Elvida Foods has participated in all national committees and initiatives in order to establish official norms and specifications for the production methods of several traditional Greek products including Gyros and Souvlaki. Additionally, we have taken several international initiatives to protect the authenticity of Greek Gyros.

From day one, ELVIDA FOODS’ export strategy was directed to the end consumer through retail stores all over the world. Today, ELVIDA FOODS operates in Europe, USA, Canada and the Arabic Peninsula, exporting products to more than 20 countries all over the world.

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Contact details 40 Stylianou Gonata St.,12133, PERISTERI, Athens, GREECE Tel: +30-2105785051, Fax: +302105785052 Email: info@elvidafoods.gr Website: www.elvidafoods.gr, www.hellenicgyros.gr www.nostimost.gr I 192 I

Recently, Elvida Foods completed 3 different investment programs, investing more than €3 million. Our premises now cover 6,000sqm and we never stop investing in state-of-theart machinery and most of all, people. “The highest level of our 150 employees here at ELVIDA FOODS and our passion for quality and delicious authentic Greek food, will always be the key drivers for our success in the future,” commented CEO Dr Stelios Skaribas.

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION

AKTINA TRAVEL GROUP

Aktina Travel Group mission: Travel Aktina was founded in 1975 with the objective to provide all kinds of tourist and travel services. It established itself in the Greek industry by being rapidly accredited from the IATA association, while in 1981 it was officially transformed to an incorporated company (SA). Over the years, Aktina Travel grew into Aktina Travel Group, incorporating a number of affiliates and subsidiaries, such as Gold Star Aviation (www.goldstar.gr) and Athens City Sightseeing (www.citysightseeing.gr).

Aktina Travel Group holds notable distinctions from airline companies and travel organizations worldwide, and is a market leader in Greece. As a leading company in its field, Aktina Travel Group pays exceptional attention to the principles by which it abides: professional conduct, transparency, high level of specialization and continuous training, team spirit, credibility and integrity.

By capitalizing on its buying power and on the expertise of its human resources, Aktina Travel Group offers a wide spectrum of travel services: ● Corporate Travel Services

TOURISM

● Shipping & Energy ● Meetings Incentives Congresses Events ( MICE) ● International & Domestic Travel Services ● Incoming Travel Services ● Exclusive & VIP ● 24/7/365 Services

Last but not least, Aktina Travel is the only travel agency in Greece with a branch office at the Athens International Airport “ Eleftherios Venizelos”, operating on a 24/7 basis.

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Contact details Filellinon 26 Str., Syntagma, Athens, 105 58, Greece Tel.: +30 210 42 21 800 Fax: + 30 210 4138545 Email: info@aktinatravelgroup.com Website: http://www.aktinatravelgroup.com I 193 I

CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Spirits Industrial

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Contact Details Kyparissi, 35200 Atalanti, Greece Tel.: +30 2233097500 Fax: +30 2233097676 Website: http://www.eza.gr I 194 I

2018 was very successful for Hellenic Brewery of Atalanti!

During the difficult period of the memoranda, the company successfully completed a significant cycle of progress in the year 2018, which started in 2013 with the entry of DAMMA’s strategic investor into the company’s share capital.

● Hellenic Brewery of Atalanti has tripled its turnover by successfully expanding its share in the domestic market. Our company became more competitive, stronger, more valued and the national champion in its industry! ● The company successfully expanded its product portfolio, with own brands, highlighting the direction and comparative advantage of diversity, aiming at absolute quality with the cost of large-scale production. ● It has completed investments of 18.5 million for the modernization and extension of production lines, new packaging, refrigerators and beer coolers. ● Doubled its staff to 180 people, ad-

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

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EZA S.A.

justing its organization to modern corporate governance ● Advanced its export in more than 35 countries that amounted in 2018 to 10% of total sales volume ● Hellenic Brewery of Atalanti is successfully claiming a place for Greek entrepreneurship and leaves by its actions a positive footprint in the beer industry.

2019-2023 Having laid the foundations, we remain consistent with our strategy for further growth, a strategy that we constantly verify and adapt to further enhance our competitive position. Expecting that the macroeconomic environment in Greece will become more favorable, we have planned to double our turnover and our market share in the next 5-year period.

We have programmed multiple actions, different levers to expand our productive capabilities and our trading net-

works, that will bring positive changes in our top line and sales quality, the brand equity of our company and products, our organizational level and our corporate results.

We respond to today’s challenges with products of superior quality, tastefully and sophisticated with excellent design. Products, which, compared to any multinational competitor, respond perfectly to the consumers’ organoleptic preferences, uniquely cover the

emotional needs of today’s Greeks and especially the need for identity, selfesteem and pride in their choice.

We are competing with much larger companies and want to prove better under conditions of fair competition and means. We seek and will gain with ingenuity and operational excellence, consumer preference and confidence for our beers – loyal consumers of our brands in the Greek market as well as in international trade.

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CREATIVE GREECE 2019

EXPORT LEADERS AUDITS, INSPECTIONS & CERTIFICATIONS Industrial

Georgios Briskolas, President & CEO

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Contact Details 89 Chlois and Likovriseos Str., Metamorfosi, 144 52, Athens / Greece Tel: +30 210 62.52.495, 62.53.927 Fax: +30 210 62.03.018 Email: info@eurocert.gr Website: https://www.eurocert.gr I 196 I

EUROCERT

World-Leading Certification EUROCERT constitutes a Greek multinational Inspection and Certification company, with 20 years of operation that follows a dynamic growth path on a worldwide scale, based on the commitment to total quality of the services provided.

EUROCERT, as an independent body for Inspections, Audits and Certifications is the largest purely Greek company in the field. Having developed a high level of know-how and experience in the global market, it offers more than 50 Certification and Inspection services in sectors including food safety, agricultural products, tourism, energy management, environmental sustainability and railways. For the past 20 years, EUROCERT follows a steady growth course both in Greece and abroad, having already carried out 40,000 industrial Inspections and having awarded 55,000 certificates. With an active presence in more than 30 countries, a network comprising of more than 500 Greek and foreign inspectors, EUROCERT is the first Greek Certification company to be accredited by the ESYD (National System Accreditation – Greece), UKAS (United Kingdom Accreditation Services (UK) and SAAS (Social Accountability Accreditation Services – USA).

In addition, in the field of Corporate Social Responsibility, EUROCERT has introduced in cooperation with CSR Hellas, the worldwide innovative “Ethos” certificate.

In spite of the crisis EUROCERT managed to apply a stable financial plan during the past decade that enabled it to almost double its turnover and more than triple both its permanent staff and its partnerships abroad. Today EUROCERT’s turnover out of the Greek territory accounts for 50% of the total and is equally impressive as its investment program since 2009, including the purchase of 2.5 million Euro worth company-owned offices in Metamorphosis (Attica).

Ever since its establishment, EUROCERT has built a wide international network of associates and customers, boosting its intense activity in Europe, Asia and the MENA. Having obtained the trust of some of the largest companies operating in the Greek and international markets, EUROCERT’s business interest is now oriented mainly towards the Asian and South American markets. The new big bet is already China, where he managed to enter a few months ago by creating a joint venture in Shanghai with the Shanghai System Safety Research Center (SSSRC) for certification of all kinds of infrastructure and material around the railways. The SSSRC is the Southwest Jiaotong University business institute, the oldest Polytechnic of China, with special railway expertise and industry interfaces.

The aim of this cooperation is to provide, with the decisive contribution of EUROCERT, certification to the Chinese railway industry, based on EU standards and legislation, in order to facilitate the China-Europe rail link to the so-called “Silk Road” . This is a huge prospect given that China has 127,000 km of rail network and 3,095 km of Metro, Tram, etc., with an annual investment of around 150 billion euros and a large number of manufacturers of modern rolling stock. The latter are also targeting the sale of rolling stock in Europe. And to do so, they need certification that everything is done according to European legislation and standards. Something that EUROCERT, which has been recognized by the European Union as a Notified Body (NoBo) for rail infrastructure and rolling stock, can give them.

At the same time, however, the company has managed to have a significant presence in countries such as Italy, Bulgaria, Romania, Turkey, India and to certify important projects and international companies. Some of these are the airports of Kuwait, Jordan, Cote d’Ivoire, Tanzania, Abu Dhabi, Egypt and Morocco, an international oil company in Kuwait, a Swiss catering company for airlines and railways, logistics companies in Washington, , an elevator maker in China, high-tech companies in Korea, performs BRC certification in food, in the US, in cooperation with AIB, the largest food control body, and has a strategic partnership with Turkey with the Turkish Standards Organization (TSE).

At the same time, EUROCERT expresses a strategic interest in the huge market of agricultural products in Brazil.

EUROCERT is established overseas as the trusted body of Audits, Inspections and Certifications, having secured worldwide presence and major international accreditations. By adopting a continuous development policy, EUROCERT has evolved into one of the most successful Greek multinational companies, with extrovert strategic planning, offering high added value and innovation.

www.timetv.gr

CREATIVE GREECE 2019

Genesis Athens Clinic

LEADERS IN EXTROVERSION Genesis Athens Clinic is the largest IVF Clinic in Greece and one of the busiest in Europe, at the forefront of our science and profession. Dr Konstantinos Pantos, Founder and Head of this Clinic, and his colleagues, are proud to have contributed to the turnaround of an outflow of patients from Greece in the recent past into a massive influx of infertile couples from over 65 countries around the world at present, running more than 6500 cycles annually and making Greece a very popular destination for Medical Tourism.

Commercial

Dr Konstantinos Pantos, Vice President I.H.T.C., Vice President G.G.D.I., Director of Assisted Fertilization Unit, Founder of “GENESIS ATHENS CLINIC”, General Secretary of Hellenic Society of Reproductive Medicine, Member of Greek Medical Tourism Council-ELITOUR

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Contact Details 14-16 Papanikoli st., Chalandri, 15232, Athens Tel: +30 210 6894326 Fax: +30 210 6890897 Email: info@pantos.gr Website: www.genesisathens.gr I 198 I

Since 2004, Genesis Athens Clinic has aimed at giving back the smile on infertile couples and the hope that they will be able to keep their hands on their own baby. Genesis, affording modern equipment and manpower composed by top scientists, has already managed to make deep incisions in the sensitive field of health.

Following a constant upgrading and incorporating new and innovative technologies on patient care for infertile couples, Genesis gained international recognition: CNN Worldwide covered

the story of a couple, both carriers of the rare inherited eye disease called Leber’s congenital amaurosis, who delivered a healthy baby following PGD treatment (http://www.cnn.com/ worldview). Pioneer research work leading to clinical application on menopause reversal and ovarian rejuvenation, may be found in multiple scientific citations and press releases in international media and networks, including the New Scientist Live, Daily Mail and Global National. Genesis Athens was also cited as a pioneer IVF Clinic with the novelty of the first worldwide live birth of a healthy child following the application of blastocyst biopsy and PGD in the IVF directory, IVF Ηistory: The milestones, http://www.ivf-worldwide.com/ivf-history.html.

The Clinic also enters valuable partnerships and research protocols, targeting the basic objective of addressing infertility.

In the past four years, Genesis Athens has been providing practical education in the e-learning program “Human Reproduction” by the University of Athens and the Hellenic Society of Reproduction Medicine to young scientists. It is a highly successful program that has been requested by the University of Bucharest and now helps in the training of health professionals in Romania, too, while it has already been sought by other countries.

In addition, two years ago we became involved in the national effort for the development of medical tourism in Greece. The Clinic holds the know-how and experience required for the medical tourism framework development, as it has been for many years the reference point for infertile couples from around the world. Participating actively in the

International Institute of Health Tourism and the Global Greek Doctors’ Institute, where Dr Pantos serves as the vicepresident in both, we keep on advising the Greek diaspora for the competitive advantages of Greece. We have already traveled to New York, Montreal, Chicago, Bucharest, Melbourne, Los Angeles and London.

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Soft Drinks, Alcoholic Drinks & Natural Mineral Water Industrial

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Contact Details J.K. Anastasopoulos & Son S.A. Rododafni, 25100, Aegion, Achaia, Greece Τel.: +30 26910.71 456 Fax: +30 26910.71 970 Email: krinos@krinos.gr Website: www.krinos.gr I 200 I

J.K. ANASTASOPOULOS & SON S.A. KRINOS

Our prior care is quality KRINOS is a 100% Greek, family-owned bottling company and the only one in Greece that combines 3 different types of production plants: alcohol drinks-distillery, soft drinks production and natural mineral water bottling.

KRINOS was founded in 1943 by Ioannis Anastasopoulos using the family traditions of ouzo and raisin brandy distillation. He also expanded the business into production of soft drinks. KRINOS soft drinks hit a major success in the wider area of Achaia, Peloponnese.

In 1971, Ioannis’ son Constantinos took the reins of the firm. He was the first in Greece to install natural mineral bottling (beyond Loutraki), and launched the first 0.5lt water bottle. He respectfully preserved and improved the inherited traditional recipes for ouzo, brandy, liqueurs and soft drinks. New machinery was brought in and new buildings were built to allow for separating each production plant section, so total premises reached up to 20,000sqm. In addition, the firm’s investments up until 1999 were valued at some 3.0 million euros, while exports to 20 countries around the world accounted for 70% of total output.

The company applies Quality Management System ΕΝ22000 since 2000, and KRINOS products have been awarded many

times for their taste and quality in contests abroad. The firm adopts all the latest technological innovations and has achieved to operate under total vertical integrated production. In its field, KRINOS is considered as a know-how expert in the bottling process.

Since 2007, the family’s third generation, Constantinos Anastasopoulos’ five children, has entered the business. Products gradually started to get improved packaging, labeling and appearance, in order to meet modern needs. The company maintains its export orientation, identity and ethical values, having survived the Greek economic crisis with zero debt. Within a five-year period, KRINOS has achieved: an increase in the number of staff, a tripling of sales, boosting exports by 35%, expanding premises by 3,000sqm and investing 2.0 million euros (own funds).

KRINOS has established and developed a strong R&D department that has successfully launched new products for several outsourcing projects. In 2017, KRINOS became KRINOS S.A. and Giannis Anastasopoulos (Constantinos’ son) is now the firm’s CEO, with his four sisters being BoD members.

In the last three years, KRINOS has seen its annual sales jump 26%, with domestic sales rising 10% and exports skyrocketing 54%.

The firm prepares for the future with zero bank borrowing.

To date, KRINOS exports to 30 countries, including Germany, Netherlands, Belgium, Middle East countries, China and USA. KRINOS operates under Quality Management System ΕΝ22000 for 19 years. It is registered to Hellenic Recycle Agency and applies all the necessary waste management activities for reducing its environmental imprint.

KRINOS’ current product portfolio includes: ● 100% Greek traditional soft drinks (or-

angeade, lemonade, gazoze and soda water), with 20% natural juice content. ●O uzo distilled in traditional cooper stills using only Greek botanicals and aromatics; brandy with 40-year-old essences and liqueurs. ●N atural mineral water with low salt content and suitable for low sodium diet.

The firm still to date strongly believes in KRINOS founder’s vision: “OUR PRIOR CARE IS QUALITY”.

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CREATIVE GREECE 2019

LEADERS IN EXTROVERSION Services

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.

Atradius Crédito y Caucion é S.A. de Seguros y Reaseguros

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Contact details 44 Kifissias Ave., 151 25, Maroussi, Greece Tel.: +30 213 0394400 Fax: +30 210 7259129 E-mail: info.gr@atradius.com Website: https://atradius.gr/ I 202 I

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.

In 2018, Atradius’ Insurance Financial Strength Rating was upgraded to ‘A2’ (outlook stable)

by Moody’s. Atradius’ long-term issuer credit rating from AM Best has also been upgraded from ‘a’ to ‘a+’ with a stable outlook. Both ratings reflect Atradius’ sound financial situation and its leading position in the credit insurance industry.

• ΨΉΦΙΑΚΉ ΜΑΣΤΟΓΡΑΦΙΑ • ΑΚΤΙΝΟΛΟΓΙΚΟ • ΜΙΚΡΟΒΙΟΛΟΓΙΚΟ ΒΙΟΧΉΜΙΚΟ ΕΡΓΑΣΤΉΡΙΟ • ΜΟΝΑΔΑ ΑΝΑΠΑΡΑΓΩΓΙΚΉΣ ΙΑΤΡΙΚΉΣ • ΤΜΉΜΑ ΕΝΔΟΣΚΟΠHΣΕΩΝ • ΓΥΝΑΙΚΟΛΟΓΙΚΟ • ΧΕΙΡΟΥΡΓΙΚΟ • ΠΛΑΣΤΙΚΉ ΧΕΙΡΟΥΡΓΙΚΉ • AΠΕΙΚΟΝΙΣΤΙΚΑ ΕΡΓΑΣΤΉΡΙΑ • ΤΜΉΜΑ ΥΠΕΡΉΧΩΝ

ΦΤΙΑΧΝΟΥΜΕ ΕΝΑΝ ΚΑΛΥΤΕΡΟ ΚΟΣΜΟ ΠΡΑΓΜΑΤΟΠΟΙΟΥΜΕ ΤΟ ΟΝΕΙΡΟ ΣΑΣ ΝΑ ΔΗΜΙΟΥΡΓΗΣΕΤΕ ΜΙΑ ΝΕΑ ΖΩΗ •ΕΞΩΣΩΜΑΤΙΚΉ ΓΟΝΙΜΟΠΟΙΉΣΉ

ΜΟΝΑΔΑ ΑΝΑΠΑΡΑΓΩΓΙΚΗΣ ΙΑΤΡΙΚΗΣ • Το επιστημονικό έργο μας συμπεριλαμβάνεται στην παγκόσμια ιστορία του IVF (www.IVF-Worldwide.com).

• Γεννήθηκε το πρώτο παιδί στον κόσμο με βιοψία βλαστοκύστεων, απαλλαγμένο από μεσογειακή αναιμία το 2004.

• Γεννήθηκε το πρώτο παιδί στον κόσμο, απαλλαγμένο από χρόνια κοκκιωματώδη νόσο που παράλληλα με μεταμόσχευση βλαστικών κυττάρων έσωσε το πάσχον αδελφάκι του, το 2005.

• Πρώτες στον κόσμο γεννήσεις παιδιών για τη νόσο Cadasil το 2006, τη συγγενή υπερπλασία των επινεφριδίων το 2006, το σύνδρομο γναθοπροσωπικής δυσόστωσης FSHD το 2007.

ΧΑΡΑΖΟΥΜΕ ΤΟΝ ΔΡΟΜΟ ΣΤΟΝ ΙΑΤΡΙΚΟ ΤΟΥΡΙΣΜΟ Παπανικολή 14 - 16, Χαλάνδρι, 152 32 Αθήνα Τηλ.: 210 68 94 326 / Fax: 210 68 90 897 e-mail: info@pantos.gr www.genesisathens.gr

• Δημοσιογραφική κάλυψη το 2011 από το διεθνές ειδησεογραφικό κανάλι CNN για τη γέννηση υγιούς παιδιού σε μια οικογένεια φορέων του συνδρόμου LEBER με 2 τυφλά παιδιά.

• Πρώτη εγκυμοσύνη στην Ελλάδα μετά από προεμφυτευτική διάγνωση όλων των χρωμοσωμάτων με τη μέθοδο Array-CGH το 2010.

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