5th Greek Investment Forum In NY

During the course of the forum top management, representatives and Investor Relations managers of the above companies have met with fund managers and investment houses in private meetings. 55 investment funds, 72 portfolio managers have indicated an interest in meetings, while 350 private meetings with the listed companies have been planned.

Within the Forum, the CEO of HELEX Group, Mr. Socrates Lazaridis, noted that: "During this year's Forum, the positive prospects of the Greek economy in a climate of trust, since the evaluation has been completed and the decisions to follow are being launched were presented to investors in New York. Listed companies and participants of the Greek market had a chance to present the economic outlook and their individual businesses to the attending institutional investors.

In this context, they were also given the opportunity to present the key figures of the Greek Capital Market:

Stable participation of foreign investors, both in capitalization terms and in terms of daily trading activity, with capital flows from abroad to be positive for the last four years. In particular, the US investors, in terms of their holdings in the overall capitalization of the Greek Stock Exchange have increased their share to 12.9% in 2016 from 11.8% in 2015. 

The Greek market although has a liquidity, fully comparable to the average of European markets (in terms of turnover velocity), has considerable margins of convergence in terms of market capitalization to GDP since this ratio is close to just ? of the European average.  

The key figures of listed companies of the non-financial sector were very positive for 2015. Specifically, eighty companies showed profits, sixty two reduced their losses, profitability improved (EBITDA was up by 17%), turnover decreased marginally by 4%, and finally, the long-term debt also presented a decrease (-6%).

At the same time, the comparison of 1^st quarter results of 2016 for the financial sector is also very positive."

The President of the American-Hellenic Chamber of Commerce, Mr. Simos Anastasopoulos in his introductory speech stated that after the recent agreement with our Partners and the closing of the evaluation process, conditions for the restoration of stability and considerable conditions for the development of the Greek economy are created, provided, nevertheless, that we all, state, citizens and businesses, realize the importance and necessity to implement the necessary structural changes that will allow Greece to become a modern competitive economy and claim the development that it deserves. The presence of the Minister of Economy and Development Mr. Stathakis at this year's Forum was a catalyst in the painful but necessary process of restoring the investors' confidence in the country's prospects, while the participation of reliable and healthy firms confirmed the potential of the Greek economy in a wide range of institutional and private international investment houses.

Within the framework of the Forum an information event entitled: "The Greek economy at a glance" was organised. In his speech at the first day of the event the Minister of Economy, Development and Tourism George Stathakis emphasized the potential of exports and particularly that of the country's export industry. This activity represents about 9% of Greece's GDP, and it would be an extremely significant progress for the economy if this rate reached the level of Portugal, namely 20%.

Regarding the Greek economy, he pointed out, that it will recover its dynamic character, and the capability to be competitive, making use of the country's comparative advantages: firstly the shipping and the tourism in combination with the other sectors suitable for development, such as the agri-food sector and the new technologies and sectors such as energy, supply chain, cultural and creative industries, environment, materials - construction and the health sector.

And of course, special attention should be paid to the country's human capital - we should not forget that one in two Greeks is a University graduate.

The completion of the first evaluation is a benchmark for the Greek economy. The reforms that have been completed or are in the process of integration prove inter alia that this government is determined to complete and implement the agreements, which has improved its reliability, Mr. Stathakis concluded.

In his speech, Chairman of the Capital Market Commission Prof. Charalampos Gotsis among others, stressed that: "By the end of the first evaluation there was restored confidence in the Greek economy and good prospects are opening up for the future for Greek companies and for the stock market in general. The Greek Capital Market operates in full legality regime following the European Directives, Regulations and Joint European Guidelines, and a reliable national regulatory framework." Finally, he noted that: "As the Capital Market Commission, we are firmly committed to our supervisory task, while promoting and solutions to enhance the liquidity of Greek businesses by improving the efficiency of existing Capital Market financial tools and the introduction of new alternatives."

Prominent economists of International and Greek Banking Groups, a representative of the International Finance Corporation - World Bank Group and Institutional Investors participated in the event giving their opinions.

The topics covered were associated with the prospects of the Greek Economy and the related investment opportunities, the major reforms that were institutionalized in order to achieve a sustainable development, as well the strategy for the management of public and private debt.