Solvents market in Greece

fuel, pipe, sodium, wc, agricultural diagnostic, alcohols, baked goods, bakery, building materials, citric acid, cosmetic, cosmetics, dairy product, drink, drinks, fertilizer, fertilizers, formic acid, frozen desserts, fruit, fruit, household cleaning products, ingredients, lactic acid, logistics, lubricants, oil product, outsourcing, packaging, packaging, pastry, personal care, personal care products, petrochemicals, pharmaceutical, phosphates, plastic, plastics, salts, sauces, sauces, soap, soaps, solvents, specialty chemical, spirit, spread, supermarkets, trading, water treatment,

research department 10 stadiou str 105 64 athens greece tel 30 210 3354100 fax 3354287 web page www sigma gr e mail info please read important disclosures at the end of report neochimiki nchr outperform new coverage eur8 06 chemicals reason for initiation ase index 4 237 34 23 02 valuation ratios 2004 2005 2006e 2007f p adj x 39 60 22 99 17 58 12 44 on tp 47 66 27 67 21 15 14 97 cfps 38 81 51 7 69 bvps 5 37 3 74 ev sales 2 91 1 48 ebitda 20 05 11 8 roe 13 0 24 6 fundamentals turnover 82 142 50 228 55 298 45 18 08 53 ebt 46 01 28 85 net profit 33 62 16 32 eps 35 65 dps