ALPHA TRUST Financial Results 2012

ALPHA TRUST announced today its financial results for the full year ended December 31st, 2012.

ALPHA TRUST Group turnover reached 6.17 million euros, compared to 5.90 million euros in 2011, up by 4.6%.  Group earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) reached 8.03 million euros, vs. 1.32 million euros in 2011, as they included exceptional revenues of 7.04 million euros from the sale of the UK Private Client business of its subsidiary, Taylor Young Investment Management Ltd.  These revenues pertain to a non-recurrent transaction and have not been received in full, however it is estimated that they shall not differ materially, following the completion of the sale transaction.

Net income stood at 5.75 million euros, compared to 622 thousand euros in 2011.

On company level, turnover stood at 1.86 million euros, up by 2.7%. The company reported an after tax net loss of 2.36 million euros, mainly attributed to the impairment of its UK divestment investment including the changes in fair value reserves, net loss is limited to 1.6 million euros.

The sale of its Private Wealth Management operation in UK improved cash flow, while changes in the legal framework of its activities in Greece led to economies of scale and, thereby, improved efficiency. Amid a challenging and volatile macroeconomic environment, ALPHA TRUST for a second consecutive year, remained committed to achieving its targets and meeting the expectations of its clients, while delivering value to its shareholders and society at large.

ALPHA TRUST INVESTMENT SERVICES S.A. is today the oldest and the largest independent investment services firm domiciled in Greece. The company is dedicated to the provision of top quality asset management services to both private and institutional investors. With a history of over 25 years, the company is distinguished for its consistency, innovation and excellence.