The basic conclusions from the analysis of the financial data for the five-month period January-May 2011, for the 17 SOEs and entities (AMEL, ATTIKO METRO, EAV, ETHEL, ELGA, ERGOSE, ERT, ETA, ILPAP, ISAP, MOD, OASA, ODIE, OSE- EDISY, OSK, TRAINOSE, TRAM) that submitted data for both periods are:
- There is a reduction of losses (before subsidies) by 44% (€411,2 mil.) in the five-month period of 2011 versus the same period in 2010.
- There is a reduction of total expenses by 32% (€501,7mil) in the five-month period of 2011 versus the same period in 2010, which is mainly due to the reduction of:
- payroll cost by 31%, as a result of the implementation of law 3899/10, the reduction in the number of personnel and the implementation of law 3845/10 as of 1/6/2010
- third party expenses by 36% in 2011
- other operating expenses by 14% in 2011
- There is a reduction of sales in the five-month period of 2011 vs 2010 by 17% or €94,4 mil.
- There is a reduction by 29% in the total subsidies (current state budget and other subsidies) in the five-month period of 2011 versus the same period in 2010, which amounted to €224,3mil. in 2011 versus €317,7 mil in 2010.
(For more information, see the attached files)