For H1 2008, EuroHold’s consolidated revenues reach 209 mln leva (106.8 mln euros) which is a growth of 128% compared to 91.3 mln leva (46.6 mln euros) for the same period of 2007.

Sales revenues also register a twofold growth reaching 152.5 mln leva (77.9 mln euros) compared to 85 mln leva (43.4 mln euros) for the same period of 2007.

The net income for the period is 41 mln leva. The Holding’s assets grew to 554 mln leva compared to 446 mln leva as of the end 2007. The Eurohold’s equity capital is in the amount of 219.9 mln leva, of which 202.4 mln leva is for the entity and 17.5 mln leva – for the minority interest.

EuroIns Insurance Group (EIG) registers 31% growth of insurance premiums as a result of realized by its subsidiaries premium revenues in the amount of 78.3 mln leva over the first six months of 2008 compared to 59.9 mln leva for the same period of 2007. 2007 results include the revenues of the Romanian and Macedonian insurer although up as of June 2007 these entities were not part of EIG portfolio.

EIG registers a negative result in the amount of 1.7 mln leva for the period due to negative financial results from investments of part of the insurance group. In spite of the negative impact of capital markets turmoil, the financial results for the second quarter of 2008 are substantially improving due to timely restructuring of the investment portfolio of the insurance companies, part of EIG. For H1 2008, the net loss from investment activities reaches 1.43 mln leva compared to 1.13 mln leva as of the end of March 2008.

In July 2008, EuroIns Romania equity capital was increased by RON 12 mln (approximately EUR 3.5 mln). As a result, the equity capital of the Romanian insurance subsidiary totals RON 36 mln (EUR 10.2 mln). The increase was necessitated by robust premium revenues growth over the past years and the ensuing regulatory requirement to maintain higher solvency and technical reserves levels.

EuroLease Auto registers twofold net income growth reaching 1.15 mln leva compared to 0.5 mln leva for the same period last year. Тhe company leasing portfolio reaches EUR 70 mln generated by 3 300 clients, 4 300 active leasing contracts and 5 200 leased vehicles.

According to Bulgarian association for leasing, EuroLease Auto occupies over 5% of the newly generated leasing business for transportation vehicles for H1 2008. The company has 21 branches and over 50 full-time employees. In 2007, EuroLease Auto started leasing operations in Romania and recently it established a leasing company in Macedonia as well. The leasing portfolio of the Romanian leasing entity exceeds EUR 8 mln as of the end of June and is expected to double its current size by the end of the year.

The auto dealerships contribute 54 mln leva in revenues and net income totaling 2.1 mln leva against revenues of 40.2 mln leva and net income of 1.5 mln for the same period of 2007. The substantial increase of net income by 37% is due to increased revenues as well as improvement in the operating margins of the dealership companies.

The manufacturing sector of the Holding also demonstrates substantial improvement of financial results. The realized net income of the division totals 1.4 mln leva for first half of the year which is twice as high as the same period of 2007 and the realized net income of 0.65 mln leva.