What happened in 2002

The year 2002 was a hard year for the market. Certain economic events, as well as the tough weather conditions (in January, the level of snow reached record levels) have slowed down the market generally and specifically our sector.

In this economic environment Cosmos Lac has demonstrated an increase in all its figures. Sales have shown a 7% increase and reached €4.520.000, while net gains
showed an increase of 33%, from €362.000 in 2001 to  €482.000 in 2002.

Export sales contributed with a 24% of total sales, overcoming the level of 1 million
Euro.

All the above had as a result for Cosmos Lac not only the first place in sales and gains in its sector (ICAP 2003), but also the ranking of the company among the three largest spray manufacturers of South Europe.

Looking back throughout this year we can be more than satisfied for what we achieved.

Balance sheet (Excel file)


COSMOS LAC’s STRATEGY.

Research-Product Portfolio-Flexibility-Responsibility.


Research
– The devotion in research is one of the fundamental elements of the company. Every year we increase our investments in the Research & Development department, by adding onto assets as well as onto human resources. Our new facilities of 4500 mē covered space in Aylida-Attica, allow us the continuous experimenting for the creation of new products and for the improvement of the existing ones. One of our investments in the research department during the first 6 months of 2003 was the acquisition of a gas chromatographer of €60.000.

Product Portfolio – The factor which puts Cosmos Lac in the first place of its category, is the yearly production of new products. Every day with a diverse market research we collect and process information concerning the needs of the market in order to fulfill its demands to the highest possible level. Some of the new products that were launched in 2003 were the new emulsion paint series ASPRO, the Penetrating Oil Professional (P.O.P), spray contact cleaner, and the new graffiti with the code name Sabotaz. The moment you read these lines Cosmos Lac produces 75 different product categories (some of which in more than 25 colors) and commercializes an immense group of goods from leading companies like 3M and INDASSA.

Flexibility – The business structure of Cosmos Lac has changed during the beginning of 2003 bringing an even greater engagement to the principles of innovation and of continuous development. In addition to the above, the quality verification was upgraded from ISO9001:1996 to ISO9001:2000 (Verifying Foundation B.V.Q.I), providing Cosmos Lac a better production quality control with a direct informational framework.

Responsibility – The functioning and development of the company complies to a severe ecological and social responsibility framework. We follow devotedly Greek and European community laws, as well as severe standards of foreign foundations.
 

Marathonodromon 18, KALLITHEA, 176.71, Athens, Greece