NRST Neurosoft S A

Outlook The Board of Directors has decided, to consistently continue its radical revised business plan which has proven to be efficient and will further restore profitability in the coming years. In particular the outlook per business area is as follows: in "Business intelligence area", although the economic crisis has postponed, annulled or reduced significantly planned projects, Neurosoft managed to hold its revenues there and is predicted to increase in 2012. In the last two years, the global economic environment has negatively impacted demand for high-end products and services to sports betting operators where most of orders have been postponed. In 2011, there are positive results from R&D efforts which start slowly to register in sales. Neurosoft expects to expand its global business in 2012. In "Factoring area" Neurosoft having maintained its dominant position in the Greek market and continues to be aggressively engaged in international outreach activities aiming to establish itself as a regional player. in "Telecoms area" Neurosoft despite the slowdown in the domestic telecom market retained the turnover with positive EBITDA. The infrastructure installation business unit contributed further to the growth of the company undertaking projects in Greece and Italy.

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Auditors' opinion In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Group and its subsidiaries as at December 31, 2011, and of its financial performance and cash flows for the year then ended in accordance with International Financial Reporting Standards as adopted by the European Union.

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Neurosoft is a leading business software provider supplying solutions that optimize business and operational processes with a view to maximize customer profitability. Neurosoft's innovative integrated software systems in factoring, sports betting, business intelligence, liability management, transactional systems, and the implementation of mission critical applications have provided tools to financial institutions, stock exchanges, telecom companies and sports betting operators to increase operating efficiencies, act on well-depicted real-time risk and liability analysis, and increase revenues and bottom line capitalizing on sophisticated predictive analytics. Neurosoft was founded in 1994 and became the first company to be floated in the AIM Italia market of the Milan Stock Exchange in May 2009. Based in Athens, Neurosoft has a multinational presence in Romania, Albania, Serbia, Bulgaria and Cyprus.


On behalf of Neurosoft SA Alexandra Andriopoulou a.andriopoulou@neurosoft.gr

Nominated Adviser Integrae Sim SpA Luca DiLiddo luca.diliddo@integrae.it Luigi Giannotta luigi.giannotta@neurosoft.it

Grafico Azioni Neurosoft S A (BIT:NRST)
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Grafico Azioni Neurosoft S A (BIT:NRST)
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