NEOCHIMIKI L.V. LAYRENTIADIS

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Detergents for Private Labels
Detergents for Multinationals
Distribution of Chemicals

• Distribution of Chemical Raw
• Materials on behalf of large
• corporations
• Major suppliers
• SHELL
• BP
• BASF
• FMC FORET
• SASOL
• RHODIA
• ADM
• SOLVAY
• A network of 2,000 clients

• Market Leader in Producing
• Detergents for Private Labels.
• We produce detergents for 8 out of
• the10 largest S/M chains in Greece
• Major clients
• CARREFOUR
• AB VASSILOPOULOS
• VEROPOULOS
• GALAXIAS
• DIA
• MAKRO
• MASSOUTIS
• METRO

• Market Leader in Producing
• Detergents in Liquid and Powder
• form for Multinationals
• Major clients
• HENKEL
• UNILEVER
• ECOLAB
• JOHNSON DIVERSEY
• SARA LEE

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Expansion Northern Greece 2000-2001
Foundation 1974
Initial Investments 1997-1998
Focused Business 1999
Establishment of LAMDA DETERGENT
Purchasing of HENKEL HELLAS factory by our
subsidiary LAMDA DETERGENT
Foundation of NEOCHIMIKI
Purchase of HOECHST HELLAS facilities
TRADING CHEMICAL PRODUCTS
DETERGENTS
Establishment of LAMDA PACK
Establishment of Logistics Center in Thessaloniki
PACKAGING CHEMICALS
Distribution
Production
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New Activities 2002 - 2003
Business Portfolio 2001
Expansion in Balkans 2004
Establishment of NEOCHIMIKI BEOGRAD in SERBIA
Establishment of PETRONET
Establishment of SPEDIMET
BASE INDUSTRIAL OILS PARAFFINS
TRANSPORT CHEMICALS
CHEMICALS
Purchasing of CLARIANT S Resin factory
Establishment of NEOCHIMIKI LAVRENTIADIS In CYPRUS
Establishment of CHEMICAL SOLUTIONS
Establishment of LAMDA LAMDA
RESINS
CHEMICALS - SOLVENTS
CHEMICALS
Establishment of TRIA LAMDA
SPECIAL FERTILIZERS
Expansion in BULGARIA CHEMICALS
Establishment of LAMDA POLYMERS
Establishment of NEOCHIMIKI-ROMANIA
CHEMICALS - POLYMERS
CHEMICALS
CHEMICALS

• Listing of NEOCHIMIKI
• L.V. LAVRENTIADIS S.A.
• on the Athens Stock Exchange, May 20, 2003

Distribution
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Production
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Currently operating at 30 of Production capacity
DETERGENT FACTORY TOTAL AREA (100,000
m²) LOGISTICS-STORAGE (15,000 m²) TANKS (7,000
m3) PRIVATELY OWNED
PRODUCTION CAPACITY 100,000 T/Year in Detergents
(Liquid) 100,000 T/Year in Detergents
(Powder) 25,000 T in Raw materials ISO 9002
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NEOCHIMIKI ROMANIA S.A.
NEOCHIMIKI A.D. BEOGRAD
NEOCHIMIKI BULGARIA S.A.
NEOCHIMIKI L.V. LAVRENTIADIS S.A.
NEOCHIMIKI LAVRENTIADIS LTD
Market of 15 BIL. - NEOCHIMIKI 15 MIL. -
Market Share 0.1 - Developing Market of
140 million people
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GROWTH
SECURITY
RELIABILITY

• Strong relation
• with multinationals
• High barriers to entry
• Low market shares

• Import Substitution
• South Eastern Expansion
• Economies of scale

• Conservative Projections
• High ROE
• Competent management

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43
80 m
19
55.8 m
58
46.8 m
29.6 m
Production
Distribution
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EAT
EBT
( 33 )
EBITDA
GROSS PROFIT
( 36 )
( 21 )
( 30 )
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EAT
EBT
EBITDA
GROSS PROFIT
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2003
2002
88.2
88.2
56.5
56.5
Stockholders Equity
FIXED ASSETS
28.4
Stockholders Equity
FIXED ASSETS
14.8
52.6
Long Term Liabilities
31.7
Long Term Liabilities
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CURRENT ASSETS
CURRENT ASSETS
Short Term Liabilities
Short Term Liabilities
20.7
35.6
26.8
24.8
ASSETS
EQUITY LIABILITIES
ASSETS
EQUITY LIABILITIES
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43
58.1 m
Production
40.6 m
Production
Distribution
Distribution
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EBT
EBITDA
GROSS PROFIT
17.5
( 41 )
12.4
11.8
( 39 )
8.5
6.3
5
( 25 )
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21
9M 2004
9M 2003
119
119
83
83
Stockholders Equity
FIXED ASSETS
41
FIXED ASSETS
Stockholders Equity
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68
Long Term Liabilities
44
Long Term Liabilities
41
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CURRENT ASSETS
CURRENT ASSETS
Short Term Liabilities
37
Short Term Liabilities
51
37
39
ASSETS
EQUITY LIABILITIES
ASSETS
EQUITY LIABILITIES
21
22
2002
2003
2004 (E)
Operating Cash Flow
-2.5
6.9
5.2
-25.2
-21.3
- 20.0
Cash Flow From Investing
28.3
14.0
15.0
Cash Flow From Financing
Total Cash Flow
0.6
- 0.4
0.2
Cash at the beginning of the Year
0.6
1.0
1.2
Cash at the end of the Year
1.2
0.6
1.5
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2003 IPO
2004 E
Shares
36,000,000 36,000,000
Average Price ()
3.5 3.7
Capitalization () mil.
126.4 133.2
Book Value () mil.
28.4 39.0
Price/Book Value (x)
4.5 3.4
Earnings A.T. () mil.
5.4 7.0
P/E (x)
23.4 19.0
Return on Equity (R.O.E.)
19 18
PEG (x)
0.25 0.63
Dividend ()
2,016,000 2,200,000
Dividend Yield
1.6 1.5
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Trading Symbol ATHEX
NEOXH
Trading Symbol Reuters
NCHr. AT
Trading Symbol Bloomberg
NEOCHI GA
Participation in Small Cap 80 Index
December 2003
Participation in Parallel Market Index
May 2004
Participation in Eurobank MidCap Private Sector
50 Index
November 2004
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