SPIROU AGRICULTURAL HOUSE S.A.: “Growing” into new markets in the Mediterranean

SPIROU AGRICULTURAL HOUSE S.A.: "Growing" into new markets in the Mediterranean Spirou House of Agriculture S.A. is a rapidly growing company, active in the agricultural technology sector. The company since its incorporation in 1947 till today has exploited its' research capabilities and has grown to become a major player in breeding, production and distribution of seeds, offering to professional farmers a wide range of advanced technology seeds and seedlings for vegetable farming as well as seeds for large scale agricultural farming (Cotton-Corn-Sunflower-Alfalfa-Sugar beet-Sorghum). Spirou is organized in a Group of eight 100%-owned subsidiaries both in Greece and abroad and was listed in the Athens Exchange in 1997. The company researches and develops its own products which then are customized for particular agricultural markets in order to provide superior tailor made products for the farming industry, aiming to add value to the farmers' produce and crops. In the past few years the Company has advanced to a multinational firm with research and production operations worldwide (Greece, Turkey, Bulgaria, Chile, Argentina, China, Thailand, S. Africa, Australia) in order to create products for a wide range of climate requirements with sales all over the Mediterranean region through an integrated distribution network of four distribution centres in Italy, Spain, Turkey and Lebanon. In Greece the Group holds a leading position in seeding production with high market share in major products. Spirou Agricultural is listed on the Athens Exchange (ASE - SPIR, Reuters - AGSr.AT, Bloomberg – SPIR GA,) and has a market capitalization of € 31.5 million. Group turnover for Q2 05 reported in September 2005 reached €15.6 million in comparison to €12.7 million in Q2 04. Gross Profit in Q2 05 reached €7.4 million against €6.1 million in Q2 04. Finally, Profits before Tax increased 83% amounted €3.5 million relatively to €1.9 million in Q2 04.