S T R E N G T H S I N N O V A T I O N C O O P E R A T I O N S

Transcription

1 S T R E N G T H S I N N O V A T I O N C O O P E R A T I O N S more than Company Profile 2013

2 EXCELLENCE INNOVATION COOPERATIONS

3 EXCELLENCE INNOVATION COOPERATIONS 66 Years of Excellence Strong presence in Greek two-wheeler Market since GORGOLIS name has been associated with pioneering work, dedication and perseverance in obtaining its targets. GORGOLIS S.A. has established itself as one of the most important motorcycle importers and is the continuation of the family company MEGO, that has been the only manufacturing company of motorcycles in Greece.

4 Launching and testride of SYM ATV models Dealers visit to SYM factory, Taiwan ATHENS International Motor Show 2008

5 STRENGTHS INNOVATION COOPERATIONS GORGOLIS Strengths Financial growth Know - how of Motororcycle Market. Thorough knowledge of Motorcycle Homologation legislation and the effect of EU directives. Member of the Association of Motor Vehicles Importers Representatives. Efficient organization utilizing all modern IS/IT methods and technology to achieve its goals from accounting and logistics to CRM and Marketing. Extensive Dealer Network all over Greece. Big emphasis on the After Sales Support. On line information service. Big emphasis on the advertising campaign It is the company with the biggest advertising investment in the last three years. The company was awarded the first prize by SYM when after the continuous increasing share of the market achieved the first position in June The continuous ascending course of GORGOLIS GROUP sales has brought the company in the 1st place among the Greek motorcycle importers, achieving a market share 17.3% of the total market of motorcycles over 50cc in the year 2010, 19.48% in the year 2011, 23,58% in the year 2012 and 24,41% in the year 2013 (incl. figures up to Jun. 2013) : The sales over last years exceed 171,549 units. SALES FIGURES JUNE '13 SYM ,1% MODENAS 64 1,8% DAYTONA 178 5,1% HONDA ,8% YAMAHA ,9% PIAGGIO ,5% KYMCO ,0% APRILIA 96 2,8% OTHERS ,0% SOURCE: ASSOCIATION OF MOTOR VEHICLE IMPORTERS-REPRESENTATIVES

6 STRENGTHS INNOVATION COOPERATIONS CONTINUOUS INNOVATIONS to introduce cub 50cc with telescopic front fork and front disc brake. to introduce cub with European specifications. to introduce cub 50cc equipped with rear disk brake. FIRST to design and present a cub with special space for helmet. to offer customer credit of 24 monthly interest free installments in the two-wheel market. to offer a 2-year warranty period for a cub. to offer to the end-user all spare parts necessary free for the first 25,000 kms for a cub. to sell scooters with banking loans with free interest.

7 STRENGTHS INNOVATION COOPERATIONS COOPERATIONS The company to maximize its share and secure its leading role in the Greek Motorcycle market has: Designed and adapted MODENAS and DAYANG motorcycles to full European specifications. Undertaken to promote MODENAS sales all over Europe. Exclusive sales agreements for the Greek Market are achieved with Italian BENELLI, Malaysian MODENAS and Chinese DAYANG. Since 2002, DAYANG motorcycles have been promoted to the sales network under its own brand name DAYTONA. In the year 2003 the company has achieved commercial agreement with Aprilia Hellas S.A., undertaking the distribution of Aprilia motorcycles in the Center and North of Greece. In the year 2003 the company undertakes the exclusive distribution of SYM motorcycles for the Greek Market. In the year 2006 the company undertakes the exclusive distribution of SYM motorcycles for the Cyprus, Bulgaria and FΥR Macedonia market. In the year 2011 the company undertakes the exclusive distribution of SYM motorcycles for the Romanian market. In the year 2011 the company undertakes the exclusive distribution of scooters Quadro for the Greek market. In the year 2013 the company is jointly involved in the import and distribution of the GIANT bicycles for the Greek market.

8 MILESTONES INNOVATION COOPERATIONS MILESTONES 1947 Bicycles sales by N. Gorgolis Production of motorized tricycles Formation of MEGO Ltd production of 50cc motorcycles Production of 125cc motorcycles with SACHS engine Production of 50cc moped MEGO becomes S.A. and the two sons of the founder - Andreas and Vasilis join the company.

9 MILESTONES INNOVATION COOPERATIONS MILESTONES 1990 GORGOLIS S.A. is formed by the two Gorgolis brothers. Importation and distribution of motorcycles from Japan The autonomous company NIPPONIA BOEKI Ltd. is formed in Japan by Andreas Gorgolis GORGOLIS S.A. moves to new owned premises in Trikala. 7,000 sq. meters of land with buildings of 1,800 sq. meters Exclusive Sales Agreement with the Chinese company DAYANG Exclusive Sales Agreement with the Malaysian company MODENAS and the Italian company BENELLI GORGOLIS S.A establishes the new owned showroom, 347 sq. meters in Athens as sales point of motorcycles and spare parts. GORGOLIS S.A becomes the owner of a 1,350 sq. meters of land in Athens, Nea Philadelfia, with an easy access for the establishment of distribution center Extension of the company premises by 1,100 sq. meters in Trikala GORGOLIS S.A becomes the owner of 19,000 sq.meter land attached to the premises in Trikala to build new utility areas Completion of the new 1,500 sq. meters building in Trikala. Commercial Agreement with Aprilia Hellas S.A. Founding of a new branch in Athens. Affiliated companies are established : NIPPONIA EUROPE Ltd in Greece with a separate distribution channel and NIPPONIA CARIBE C.X.A. in Dominican Republic undertaking the distribution of motorcycles. Exclusive sales agreement with Sanyang Industry of Taiwan Completion of a new 1,618 sq. meters building in Trikala, as spare parts logistics center Purchase of a 4,000 sq. meters land near Trikala city, for future establishments.

10 New Warehouse in Trikala New premises Construction

11 KEY FACTS INNOVATION COOPERATIONS KEY FACTS N.GORGOLIS : Founded in 1947 GORGOLIS SA: Founded in 1990 Location: Trikala Premises: 6th km Larissis Road, Trikala, Greece 26,000 sq.meters land with 6,018 sq.meters covered area. Scope: Imports and distribution of motorcycles Turnover (2012): EUR Dealers: 300 Units sold (2012): 9.617

12 KEY PEOPLE INNOVATION COOPERATIONS Andreas Gorgolis Chairman of the board

13 KEY PEOPLE INNOVATION COOPERATIONS KEY PEOPLE ANDREAS GORGOLIS, 58 A graduate of the Economic University of Athens, Mr.Gorgolis is the Chairman of the Board. His main responsibility is the imports and purchases. He speaks English and Italian fluently and some Japanese. He is married and father of two sons aged 34 and 31. VASILIS GORGOLIS, 55 A graduate of Economic University of Athens, with a minor degree in marketing, Vasilis Gorgolis is mainly responsible for marketing and sales. He is married and father of two sons aged 31 and 29. Messrs Andreas and Vasilis Gorgolis have formed their own company after having worked for 10 years in the family company MEGO S.A. being managers and shareholders. MEGO had been the only Greek company to produce motorcycles of Greek design since 1962, having a close cooperation with factories MINARELLI Spa - Italy and SACHS MOTORS - Germany. Though GORGOLIS SA is staffed with efficient people the family character is preserved as Andreas and Vasilis families are the only shareholders and their children aim to carry on the company tradition. Nikos is a graduate of Law School of University of Salonica and he has completed his LLM at London School of Economics while Victor is a graduate of Economics in Edinburgh, and he is already working in the family business. Aris is a graduate of School of Electronic and Computer Engineering at NTUA with a dual MBA at Hamburg University in Germany and Fudan University in Shanghai while Alexandros after graduating Business Administration in Athens University he got MSc in Logistics & Supply Chain Management at Westminster University, London. Both Aris and Alexandros have joined the business after they completed their studies.

14 STAFF INNOVATION COOPERATIONS

15 STAFF INNOVATION COOPERATIONS STAFF DISTRIBUTION Sales: 9 people Sales Admin: 10 people EDP - Accounting: 5 people IS/IT: 1 person Imports Dept.: 2 people PR-Creative Dept.: 2 person Spare parts: 11 people Technical/service: 12 people TOTAL: 52 people

16 INFORMATION ABOUT MOTORCYCLE SALES INFORMATION about Motorcycle sales in the Greek market SALES & MARKET SHARE PER CATEGORY over 50cc MOTORCYCLES CATEGORY UNITS MARKET SHARE CATEGORY UNITS SALES 50cc MOTORCYCLES (50cc figures are not accurate as not full recorded by the official registration office) CATEGORY 50cc UNITS UNITS TOTAL MARKET SHARE SCOOTER ,93% SCOOTER ,82% CUBS Asian CUBS Asian ,61% type type ,35% STREET ,13% STREET ,33% ATV ,80% ATV ,13% ON/OFF ,83% ON/OFF 902 2,74% SCOOTER-3w 681 1,46% SCOOTER-3w 387 1,18% SUPER SPORT 828 1,78% SUPER SPORT 311 0,95% ENDURO 462 0,99% ENDURO 305 0,93% SUPERMOTO 424 0,91% SUPERMOTO 259 0,79% CUSTOM 176 0,38% CUSTOM 169 0,51% OTHERS 86 0,18% OTHERS 91 0,28% TOTAL ,00% TOTAL ,00% GORGOLIS S.A. MARKET SHARE to 300cc (latest years)

17 SUMMARY FINANCIAL STATEMENT Summary Financial Statements of GORGOLIS S.A. Balance sheet ASSETS 31/12/ /12/2012 LIABILITIES 31/12/ /12/2012 I. FIXED ASSETS I. NET WORTH Intangible assets 31,249 8 Share Capital 6,689,162 6,978,675 Tangible assets 3,208,595 3,366,396 Reserves 971,707 1,034,819 Financial assets 21,248 5,790 Profit Carried Forward 346, ,303 TOTAL 3,261,092 3,372,194 Total Net Worth 8,007,143 8,359,797 II. CURRENT ASSETS Provisions 268, ,705 II. LONG TERM DEBT Inventories 4,939,212 4,337,939 Accounts Receivable 631, ,569 Total Long-Term Debt 0 40,000 Notes Receivable 1,683, ,608 Notes Receivable overdue 62,943 61,113 III. CURRENT LIABILITIES Sundry Debit Accounts 440, ,726 Cash & Sight Deposits 3,480,812 2,109,442 Suppliers 459, ,373 Notes payable 278, ,555 Total Current Assets 11,238,097 8,511,397 Bank Credits 4,023,675 2,055,910 Customers Advances 131,899 67,734 Taxes Payable 453, ,739 III. REST ASSETS 7,475 12,157 Sundry Credit Accounts 177,655 62,704 Current portion of long term debt 150,000 0 Dividends payable 480,392 0 TOTAL ASSETS 14,506,664 11,895,748 Social Security Organ 69,929 57,887 Total Current Liabilities 6,225,049 3,261,902 Guaranties and real securities 1,673,289 2,610,912 Other memo accounts IV. TOTAL LIABILITIES 6,225,049 3,301,902 Accrued expenses 6,386 3,344 GRAND TOTAL 14,506,664 11,895,748 Guaranties and real securities 1,673,289 2,610,912 Other memo accounts PROFIT & LOSS STATEMENT Net sales 19,826,038 17,258,197 Less: Cost of sales 14,049,472 12,725,730 Gross Margin 3,776,567 4,532,467 Plus:Other operating income 126, ,739 Less: General Expenses 3,158,581 3,066,947 Sales Expenses 150, ,940 Operating Profit 2,594,021 1,381,319 PROFIT DISTRIBUTION Net profit 2,518,906 1,602,088 Minus* 550,073 0 Plus: Profit brought forward 627,501 1,377,205 Balance 2,596,334 2,979,293 Minus: Income tax 533, ,790 Profit for Distribution 2,063,154 2,635,503 Plus: Financial and nonoperating income Less: Financial Charges and nonoperating expenses 24, ,319 99,601 24,550 Distributed as follows: 1. Different Provisions 72,224 63, Board of Directors 613, Carried Forward 1,377,205 2,572,390 NET PROFIT BEFORE TAXES 2,518,906 1,602,088 *Tax differences from previous years

18

19

20 Customer satisfaction more than CONTINUOUS Innovation years of Excellence 6th km Larissis Rd Trikala - Greece Tel FAX: Athens Branch: 309 Thiseos st Athens - Greece Tel FAX: imports@gorgolis.gr