Doppler: One of the fastest developing manufacturing companies in the country

31 July 2006

Doppler S.A. is one of the top manufacturing companies in the country with the fastest growing turnover and profit figures according to INR’s annual survey. The manufacturer of integrated lift systems and lift components is based in Polykastro, Kilkis, a region with one of the highest rates of unemployment in the country.

In its survey of approximately 2,000 companies, the report singled out the 80 manufacturing companies in Greece with the best performance in terms of growth of profits and turnover. In 2005, the company’s turnover was up 40%, while pre-tax profits were up 70% on 2004.

This distinction is not the first for Doppler; in November 2004, in a similar survey by Stat Bank the company was included in the report’s list of top performing companies of Greek industry.

It is notable that the company continues to flourish in 2006 and in the first half of 2006, sales were up 33% on the same period in 2005. At the same time, €3.5 million is being invested in facilities and state-of-the-art machinery which is expected to further boost the company’s already successful progress.

Attica Ventures has participated in the company’s share capital since the beginning of 2005. The venture capital management company, part of the ATTICA BANK group of companies, is one of the most dynamic in its field and has already invested in six innovative Greek SMEs.

This is not the first distinction for the investment fund; a March 2006 survey carried out on 500 company executives by the Panteio University, pinpointed another of Attica Ventures’ investments, mastihashop, as one of the 15 most innovative Greek businesses, among the ranks of companies like Intracom, Folli Follie, S&B Industrial Minerals, Germanos, DELTA, TITAN and Goody’s.

In both surveys, Doppler and mastihashop were the only companies that currently have a venture capital fund investor, namely Attica Ventures in both cases. It should be noted, however, that at least four other companies that stood out in the list of the 15 most innovative were funded by Greek VC funds in their initial start-up phases, which proves the significant contribution made by these funds to the development of companies.

FROM THE ATTICA VENTURES PRESS OFFICE