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Alapis



The Alapis Group was formed on May 2007, by the merger of the companies Veterin SA, Lamda Detergent SA, EBIK SA and Elpharma SA. Today, the Group's activities involve two divisions:
A) Mainly the Health Division, which includes a wide network for the provision and distribution of pharmaceutical and para-pharmaceutical products as well as medical devices and health materials for more than 5,000 chemist's and 200 hospitals.
B) In the Non-Health Division which includes the production and distribution of Cosmetics,Detergents and Organic Products.

Alapis head starts drawing on the vast and significant experience of its merged Companies along with a capable and highly experienced management and makes a dynamic entrance in the domestic and international market of the health sector. Its target is to create a vertically integrated unit and take a leading position in the markets of S.E. Europe at first and expand in the hole of the continent in future.

Today, the Group's development policy is based on the following basic pillars:
-its expansion through acquisitions abroad,
-the investments in the production and strengthening of the distribution networks in Greece and abroad,
-the enhancement of the pharmaceutical sector, with the development of generic drugs and
-the creation of a differentiated product portfolio.

Alapis is aiming at expanding the activities of the Health Division and supporting the Sectors of Human Health, medical and technological devices and sanitary equipment. This Sector is aided by taking advantage of the existing know-how of the company, the substantial knowledge of the pharmaceutical market and the financial capacity of Alapis, which gives the company the opportunity to accomplish larger investments, acquisitions and strategic actions.

Additionally, the company is already activated in the sector of research, development and study of medicines in Greece and in Boston and has already co-operation with the University of Boston and respective organizations in Malta on the same field and on clinical studies.

ALAPIS consolidated turnover for 2007 stood at € 442.5 mil., EBITDA at € 117.3 mil. and earnings after taxes and minorities at € 83.2 mil. For 2008 consolidated turnover is expected to stand at € 900 mil., EBITDA at € 160 mil. and earnings after taxes and minorities at € 160 mil.

Turnover in H1 2008, amounted to €464.4 mil, up 248.5% versus €133.2 mil in H1 2007. EBITDA increased by 219.4% and reached €125.4 mil, versus €39.3 mil in the corresponding period of last year, while earnings after tax and minorities reached €72.2 mil, up 213.5% from €23.1 mil in H1 2007.

The above increases in all financial results of H1 2008 over the respective period in 2007 are attributed to the consolidation of newly acquired companies (it is noted that 10 companies have been acquired since July 2007 and hence fore), as well as the significant organic growth exhibited across all divisions of the Group.