The letter of the President of the Management Board summarizing business year 2008/2009

Ladies and Gentlemen,

It is my pleasure to present you with the summary of the achievements of HELIO S.A. in the business year 2008/2009. As an ambitious person, I am very glad that the growth strategy adopted by us has brought the rotational effects not only in the time of prosperity but in the economic slowdown, as well. At the same time, I believe that accomplishing our aims made, we have fulfilled your expectations, and contributed to further successful progress of our common business.

In the period concerned, we have recorded successes in the field of current activities as well as in investment activities. As the financial statement data show, in the previous year we managed to generate the record-breaking revenues from sales in the history of the Company as well as record-breaking profits. This fact pleases all the more that the dynamics of the Company's development exceeds development of the branch, and owing to that we have again strengthened our position on the domestic market of the nuts and dries fruits.
Relating this year’s results to the data for the prior business year (July 2007 – June 2008), HELIO S.A. increased its revenues from sales by 15% and its net profit by 42%. The results identify us not only against the competitors from the branch but such results can be identified against a background of all companies listed on the Warsaw Stock Exchange. The successful effects were caused mainly by: strengthening our good relations with the hitherto consumers, an increase in the share of direct import in the Company's supplies as well as intensification of marketing actions, including the television campaign, the first in the history of the Company.

Our efforts are visible also in non-financial aspects, including prestigious awards, such as Consumers' Golden Laurels 2009 [Złote Laury Konsumenta 2009] and Consumers' Laurels – Grand Prix 2009 [Laury Konsumenta – Grand Prix 2009]  in the nuts and dries fruits category and in the garnish category [dodatki do ciast], as well as Statuette of FMCG Pearls of the Market 2009 [Statuetka Perły Rynku FMCG 2009] in the garnish and the nuts and dries fruits category. It is worth to add that the strong position of the Company on the domestic market is acknowledged in results of studies performed by Gfk Polonia, the reputable agency, which indicate the Poles during the last year purchased the greatest number of products marked with our trademark of all the sweetmeats packed under a manufacturer’s make. At present, HELIO S.A. should be recognized as one of the major importers and distributors of nuts and dried fruits in Poland and undoubtedly the leader in the poppy-seed filling category.

The pasted year is also the time of significant investments. We renovated buildings on the plot acquired last year, what increased the storage surface of great worth to the Company, and there we commenced to construct a new production plant. Completion of the investment project will assure us to have a big warehouse-production-office complex at our disposal in Brochów, owing to which our production capabilities will be increased and logistics will be improved, what will open us opportunities for further dynamic progress. With a view to increase scale of the enterprise business, last year we also launched the new ERP integrated system to manage the enterprise, moreover, we upgraded our technical structures (infrastructure) what is an element of the strategy of regular constitutional development realized by us.

We are very pleased with our achieved successes, all the more that their effects were not just short-term, but they will allow to fulfil our further plans of development and at the same time they will allow to gradually raise the Company's value for the Shareholders. Thus, I believe that the coming years will be the time of constant development of HELIO S.A. Owing to the good perspectives for the development of the nuts and dried fruits trade, and a stable position of the Company on the domestic market, as well as open chances for actuation of new markets after completion of the investment project in Brochów make that further increase of business scale of our enterprise, including incomes on sale and profits seems to be not threatened.

In conclusion I would like to thank all our shareholders for their interest and belief in the success of HELIO S.A. With a view to them, we have made efforts for further strengthening communication with investors, including implementation of a new IR section the Company’s website: www.helio.pl, which has been ranked in a circle of 10 highest estimated pages in its category in the Issuer Golden Website 2009 [Złota Strona Emitenta 2009], moreover we also develop contacts with financial analysts from brokerage houses, what fructified with recommendations searched by investors.

I believe that the future financial results will prove themselves to be a source of your numerous benefits and pleasure resulting from your investment in shares of HELIO S.A., what I warmly wish you.


Yours faithfully,
Leszek Wąsowicz
President of the Management Board of HELIO S.A.