Anonimi Naftiliaki Etaria Kritis S A : IR RELEASE 30.06.2021

Travel & Leisure - Travel & Tourism

Company Description

ANEK LINES Group of companies is in the business of operating its own as well as chartered passenger ferry vessels for over 54 years. The group is active in sea routes of Greece and the Adriatic and has achieved sustainable leadership in carrying passengers and vehicles with credibility by means of its 9 owned and chartered state-of-the-art passenger vessels.

	Share Chart
180		4,000,000
160		3,500,000
140		3,000,000
120
		2,500,000
100
		2,000,000
80
		1,500,000
60
40		1,000,000
20		500,000
0		0
Volume	ANEK (KO)	ATHEX General Index
	Share Data
# of shares (CR)		221,519,681
Price (€): 21/09/2021 (CR)	0.0735
Capitalization (€ mil.)		16,282
%Δ since 31/12/2020 (CR)	77.1%
52 wks high €: 17/08/2021 (CR)	0.0830
52 wks low €: 09/11/2020 (CR)	0.0310
52 wks avrg. Daily vol # (CR):	25,465
REUTERS		ANKr.AT
BLOOMBERG		ΑΝΕΚ GA
ATHEX		ANEK

Please refer to the important disclosures shown on page 2

IR RELEASE

6Μ 2021

September 2021

Basic Figures

• 54 Years of leading presence
• Fleet of 9 owned and chartered vessels
• Strong brand name in the sector

6M 2021 Consolidated Financial Figures

• During the first six months of 2021 the implementation of extraordinary measures to deal with the spread of the COVID-19 pandemic was continued. The gradual restoration in economic activity led to an improvement in the economic climate and created expectations for economic recovery. In the passenger shipping sector, the restrictions imposed on passengers' transfers continued during the first months of 2021 and were gradually abolished by mid-May, while reduced capacity protocols on vessels continue to apply.
• In the first half of 2021 Group's turnover increased by 5% compared to the first half of 2020 and, in combination with the restraint of operating expenses, resulted in the improvement of the Group's financial results, which would have been higher if there was no increase in fuel costs due to the significant rise in international oil prices.
• By executing 2% less itineraries compared to the first half of 2020, ANEK Group during the first six months of 2021, in all routes operated, has transferred in total 159 thousand passengers over 172 thousand in the comparable period (reduction of 8%), 47 thousand vehicles versus 31 thousand in the first half of 2020 (increase of 51%) and 66 thousand trucks compared to 61 thousand (increase of 8%).

Key Figures (6M 2021 versus 6M 2020):	(Μ €)	6Μ2020	6Μ2021
	Group turnover: €58.181 mil. over €55.377 mil.
	Parent company turnover: €51.387 mil. versus €50.232 mil.
 Consolidated cost of sales: €55.636 mil. from €53.913 mil.	Sales	55.4	58.2
	Parent company cost of sales: €51.021 mil. instead of €49.987 mil.
	Group gross profits: €2.545 mil. from €1.464 mil.	Gross Profit	1.5	2.5
	Parent company gross profits: €0.366 mil. over €0.245 mil.	EBITDA	-2.3	-0.7
 Consolidated EBITDA: losses €0.721 mil. versus losses €2.299 mil.
	Parent company EBITDA: losses €1.617 mil. as opposed to losses €2.380 mil. EBIT	-7.9	-6.1
 Group net results after taxes and minority rights: losses €12.103 mil.	EBT	-12.6	-11.5
	as opposed to losses €13.163 mil.
	Parent company net results after taxes: losses €11.859 mil. versus	EATAM	-13.2	-12.1
	losses €12.391 mil.

Strategy - Prospects:

• On September 9, 2021 the annual ordinary General Meeting of the Parent Company was held, which inter alia, elected the new Board of Directors of the Company, which was constituted on September 10, 2021.
• The improvement of the economic climate, the recovery of exports as well as the good course of tourism during the summer period have strengthened the positive prospects for economic recovery and high growth of GDP for 2021. Passenger shipping sector showed an increase in transport work, positive expectations for traffic volumes during the second semester of the year and signs of recovery after the unprecedented loss of transport work and revenues in the previous year. Data for the tourism in the months of July and August are particularly encouraging, and this is also reflected in passenger traffic volumes of the Group. However, the sharp rise in international oil prices compared to 2020 threatens to absorb the benefit of the increased traffic.

Ratios

	SALES	EBITDA	EBIT	EAT& MIN	EPS*	P/E	P/BV**	P/ SALES	P/ EBITDA	EV/ EBITDA	BANKS/	ROE
	EQUITY
	(.000 €)	(.000 €)	(.000 €)	(.000 €)	€	x	x	x	x	x	x	%
2016	157,583	25,572	16,056	634	0.0034	19.01	neg	0.08	0.47	11.17	neg	neg
2017	164,749	12,777	2,340	9,810	0.0529	1.46	5.22	0.09	1.12	20.96	94.62	356.73%
2018	168,235	14,618	3,586	-13,842	-0.0747	-0.81	neg	0.07	0.77	17.97	neg	neg
2019	173,891	25,638	14,679	2,577	0.0139	2.27	1.75	0.03	0.23	9.99	77.67	77.36%
2020	124,452	6,867	-4,422	-15,066	-0.0680	neg	neg	0.13	2.37	37.53	neg	neg

Ratios are calculated using the closing price of common share

• The ratio is calculated using the number of common shares at the end of each fiscal year
• BV= Total Equity

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ANEK LINES S.A.

IR Release (September2021)

Consolidated Financial Results

Statement of Comprehensive Income

(FY:December)	6M 2017	6M 2018	6Μ 2019	6Μ2020	6Μ2021
(000 €)
Turnover (sales)	65,251	72,876	72,503	55,377	58,181
Cost of sales	(64,873)	(64,444)	(63,723)	(53,913)	(55,636)
Gross Profit	378	8,432	8,780	1,464	2,545
Other operating income	608	293	518	625	468
Other operating expenses	(1,156)	(695)	(331)	(564)	(300)
Total Gross Profit	(170)	8,030	8,967	1,525	2,713
Administrative & Distribution expenses	(11,132)	(11,787)	(11,469)	(9,397)	(8,825)
EBITDA	(6,340)	1,588	3,173	(2,299)	(721)
Depreciation	(4,962)	(5,345)	(5,675)	(5,573)	(5,391)
EBIT	(11,302)	(3,757)	(2,502)	(7,872)	(6,112)
Financial cost (net)	10,882	(4,999)	(4,690)	(4,622)	(5,379)
Results from investing activities	2,465	(6)	99	1,856	(6)
Profit/(loss) from participation in associates	55	67	63	37	41
Other provisions				(2,000)	0
EBT	2,100	(8,695)	(7,030)	(12,601)	(11,456)
Income tax	(253)	(313)	(391)	(258)	(231)
Minority interest	(206)	70	481	304	416
EATAM	2,053	(9,078)	(7,902)	(13,163)	(12,103)
Source: Published Group's Financial Statements

Statement of Financial Position

(.000 €)	FY 2017		FY 2018		FY 2019		FY 2020		6Μ 2021
ASSETS
Fixed assets	271,078	284,328	276,359	267,765	267,019
Inventories	2,948	3,088	3,156	2,689	3,186
Trade receivables	35,782	27,204	34,201	30,921	37,248
Other current assets	12,940	15,799	17,218	17,607	20,397
TOTAL ASSETS	322,748	330,419	330,934	318,982	327,850
EQUITY & LIABILITIES
Long-term liabilities	262,505	25,563	19,371	17,534	18,220
Short-term loans	17,489	256,134	258,708	252,862	255,288
Other short-term liabilities	40,004	57,591	49,524	49,521	67,259
Total liabilities	319,998	339,288	327,603	319,918	340,767
Share Capital	56,597	56,597	56,597	67,440	67,440
Other Company's shareholders equity	-56,742	-72,635	-65,804	-81,509	-93,585
Total Company's shareholders equity	-145	-16,038	-9,207	-14,069	-26,145
Minority rights	2,895	7,169	12,538	13,134	13,228
Total Equity	2,750	-8,869	3,331	-935	-12,917
TOTAL EQUITY & LIABILITIES	322,748	330,419	330,934	318,982	327,850
Source: Published Group's Financial Statements

Sales Breakdown

6M 2021

Per geographical region

7.9%

29.7%

62.4%

Domestic

Abroad

Other activities

Semi annual sales

Contact Details

Ioannis I. Vardinoyannis

Managing Director, [e-mail]

Stelianos Stamos,

Chief Financial Officer, [e-mail]

ANEK LINES S.A.

Karamanli Avenue, Chania

tel. [phone]

Additional information concerning the Financial Statements under I.F.R.S. can be found in the company's website: www.anek.gr

This presentation may contain forward-looking statements. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Group. They are not historical facts, nor are they guarantees of future performance. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Further details of potential risks and uncertainties affecting ANEK LINES S.A are described in the ANEK LINES S.A. filings with the Athens Stock Exchange. These forward-looking statements speak only as of the date of this presentation.

*aea relate S.A.- Investors Relations & Corporate Communication - www.aea.gr

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