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European Reliance – Profitability and stable growth for the first semester of 2013

European Reliance realized sales of € 82.3 million in H1FY13, 2% higher than H1FY12, in a period when the insurance industry is subjected to 10.5% decline.
European Reliance realized sales of € 82.3 million in H1FY13, 2% higher than H1FY12, in a period when the insurance industry is subjected to 10.5% decline.
 
Profit before taxes totaled € 4.64 million versus € 4.59 million the same period last year (H1FY12), slightly increased by 1.1%. 
The Total ordinary shareholder equity amounted to € 52.97 million, increased by 21.5% comparing to the last year’s relative period. 
The Assets totaled € 295.34 million, increased by 7.3% comparing to the last year’s relative period, while the total insurance contracts provisions amounted to € 219.68 million versus € 202.34 million in 31/12/2012. 
 
European Reliance has zero bank loans, no overdue debts and enjoys a strengthened liquidity profile.
Despite the challenging economic environment in the short run, European Reliance is committed to the accomplishment of the targets of 2013.
 
Interested parties and stakeholders may derive more information on the company site, www.europaikipisti.gr, under Investor Relations.
 
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