2. Public Financial Report
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© ATHOC/N. Tassoulas
The purpose and mission of the ATHENS 2004
Organising Committee for the Olympic Games
S.A. (ATHOC) was the organisation and hosting
of the 2004 Olympic Games in Athens, as per
the "Host City Contract" of the Games of the
XXVIII Olympiad,which was agreed between
the Greek side underwritten by the Greek
Government, and the International Olympic
Committee (IOC), and in accordance with
relevant legislation (L.2598/1998, as in force).
By legislative regulation and contract with the
International Paralympic Committee, ATHOC
also assumed responsibility for the preparation
and hosting of the Paralympic Games. It should
be noted that this was the first time in history
that an Olympic Games Organising Committee
was responsible for both Games.
The information and notes that follow constitute
the public financial report of ATHOC, as this
was made public on 12 May 2005.
This report pertains exclusively to the institutionally
and contractually defined competences of
ATHOC, as these stem from the aforementioned
relevant legislation, the Bid File and the Host City
Contract and are limited to the preparation and
hosting of the Games. It should be noted that the
studies and construction of infrastructure public
works and of the necessary sports venues was
the responsibility of the Greek State.
ATHOC was in a position, only eight months
after the conclusion of the Games, to publish its
financial report, having effectively completed in
their entirety its financial transactions, that is, its
own obligations toward third parties and the
obligations of third parties to itself.
This completion was made possible thanks to
the cooperation of ATHOC with the lOC, the
Greek State, the international and national
sponsors, as well as its suppliers and
contractors.
The information and notes that follow do not
constitute statutory financial statements.
ATHOC's audited financial statements were
approved and published as provided by relevant
legislation. They constitute a precise summary
of the material information that composes the
public report and the results of the financial
management of ATHOC.
Report of Revenues and
Expenditures of ATHOC
Revenues
Broadcasting Rights
International and National
Sponsorships
Contractual Participation
of the Greek State
Financial Revenues
Ticketing
Licensing
Provision of Accommodation
Services
Other Revenues
TOTAL
Euro
(million)
578,7
536,7
282,5
226,0
194,1
119,7
113,7
47,0
2.098,4
%
27,6%
25,6%
13,5%
10,8%
9,2%
5,7%
5,4%
2,2%
100%
Official Report of the XXVIII Olympiad 517

3. I. The final revenues of ATHOC, as depicted in the
table, are greater than the revenues forecast in
the "Bid File for the Olympic Games" which was
submitted on 14/08/1996 at the IOC Headquarters
in Lausanne. The projected revenues in the Bid File
were $1,607 million US Dollars.
2. The largest percentage (38,3%) of the
revenues came to ATHOC from the IOC
through broadcasting rights and the rights from
the International Sponsors.
3. The financial participation of the Greek State
to the budget of ATHOC was in absolute
conformity with the original amount included in
the Bid File and was not increased. Thus,the
Greek State paid ATHOC a total amount of
$235 million US Dollars for the preparation and
hosting of the Olympic Games, and a total
amount of €45,5 million euro as its
participation in the organisation and hosting of
the Paralympic Games, as originally forecast
(total percentage 13,5%).
4. ATHOC's revenue targets for broadcasting
rights, sponsoring and ticketing were surpassed,
despite the unfavourable international
circumstances that followed in the critical
timeframe after the attacks of 9/11.
5. ATHOC, upon completion of its work, has
ensured a surplus from the delivery of its Olympic
budget. This surplus derived primarily from:
• the limitation of expenditures during the final
stage of preparations and hosting of the Games,
Notes
• the complete and analytical planning of its
activities,
• the surplus achieved over the expected
revenues from broadcasting rights, sponsoring
and ticketing,
• the discounts achieved in tenders, and
• the successful "Management of Exchange
Risk", that is, revenues forecast in US Dollars
($1 billion US Dollars) were converted into
euros in time, before the devaluation of the
dollar against the euro during 2002-2004.
In conclusion, not only was the strategic
objective of the balanced budget achieved by
ATHOC, but also at the same time a surplus of
€130,6 million was secured.
Report on actions carried out by
ATHOC for and on behalf of the
Greek State
By virtue of decisions by the Interministerial
Committee for Coordination of Olympic
Preparation (DESOP), ATHOC was assigned
the tendering for provision of services and
supply of goods for and on behalf of the Greek
State and involved public agencies, such as
actions, works and procurements with post-
Olympic use (sports equipment, furniture,
venue equipment), as well as a series of other
actions, such as covering expropriation
expenditures, which were deemed necessary
for the hosting of the Games, and always on
instructions of the Greek State.
The Greek State undertook the obligation to
subsidise ATHOC correspondingly to cover the
cost of these actions, according to the relevant
decisions of the Interministerial Committee.
The purpose of these decisions was the best
possible coordination between the Greek State
and ATHOC and the most expedient possible
completion of the related procedures for the
timely completion of the entire project.
These expenditures, amounting in total to
€303,8 million, remained within their approved
budget, as per the relevant decisions of the
Interministerial Committee (DESOP).
For the aforementioned actions, which were
approved by the Interministerial Committee
(DESOP) and were assigned for
implementation to ATHOC, the Greek State
subsidised ATHOC with a total amount of
€180,2 million, while the related expenditures
amounted to €303,8 million.
The remaining cost of these actions, amounting
to €123,6 million, was covered by the surplus of
ATHOCs Olympic Budget.
Final Financial Result
The surplus in the financial statements
published by ATHOC amounted to seven
million twenty one thousand and a hundred and
sixteen euros (€7.021.116).
Revenues
Technology (information
technology, telecoms, energy)
Games Operations (transport,
food services, accreditation,
waste, management, venue
operations, etc)
Games Support
(volunteerism, training,
accommodation, sports, etc)
Olympic and Paralympic
Overlay expenditures
Production and transmission
of Games Broadcasting Signal
Torch Relay - Opening and
Closing Ceremonies - Culture
Administration Services
Euro
(million)
338,8
309,6
298,0
190,2
171,7
133,4
101,4
Paralympic Games (cost of hosting) 99,4
Financial Services & Logistics
Support of Promotion
& Marketing Programmes
(ticketing,sponsoring,
licensing,website)
Image and Promotion
IOC and HOC rights
TOTAL
93,5
92,4
69,8
69,6
1.967,8
%
17,2%
15,7%
15,1%
9,7%
8,7%
6,8%
5,2%
5,1%
4,8%
4,7%
3,5%
3,5%
100%
ATHOCOlympic Budget
Surplus 130,6
Official Report of the XXVIII Olympiad518

4. Chief Operating Officer: Marton Simitsek
Chief Technical Officer: Yannis Pyrgiotis
Chief Financial Officer: Theodore Papapetropoulos
Head of Sports Command Centre: Makis Assimakopoulos
Head of Communications Centre: Michalis Zacharatos
Head of Region Operations Management Centre: Thanasis Kantartzis
Head of Technology Operations Centre: Dimitris Beis
Head of Olympic Transport Operations Centre: Panos Protopsaltis
Security Liaison at the MOC, OGSD Director: Major-General Vassilios Konstantinides
Head of Main Operations Centre Operating Team: Efharis Skarveli
Head of Accreditation Central Team: Stratis Telloglou*
Head of Risk Management Central Team: Apostolos Nathanail*
Head of Games Workforce Planning: Yannis Sidiropoulos*
Head of Volunteers Central Team: Dimitrios Caramitsos-Tziras*
Head of Image & Identity Central Team: Theodora Mantzaris*
Head of Ticketing Central Team: Stephanos Kakarantzas*
Head of Doping Control Services Central Team: Christina Tsitsibikou*
Head of Medical Services Central Team: Constantinos Parissis*
Head of Venue Operations Central Team: Andreas Tsochantaris*
Head of Legal Services Central Team: Nicolaos Papadimitriou (representative at MOC: Dimitris Filis*)
Head of Olympic Family & Protocol Services Central Team: Dionyssis Gangas*
Head of Environmental Operations & Waste Management Central Team: George Kazantzopoulos*
Head of National Olympic Committee Services Central Team: Laszlo Vajda*
Head of Broadcasting Coordination Unit: Dimitra Kitsiou*
Head of Medal Ceremonies & Sport Presentation Central Teams: Anton is Zaglakoutis*
Head of Press & Media Office: Serafim Kotrotsos*
Head of Food Services Central Team: Makis Fokas*
Head of Press Operations Central Team: Costas Vernikos*
Head of Logistics Central Team & Support Venues: Apostolos Tzimourtas*
Head of Accommodation Central Team: Basile Niadas*
Head of Sponsors &Torch Relay Central Teams: George Bolos*
*The above General Managers and Managers were MOC members representing the Central Team(s) of
their responsibility, including those mentioned below:
Head of Tendering Procedures Central Team: Charalambos Kallis
Head of Internet & Interactive Media Central Team: Dimitris Paneras
Head of Personnel Central Team: Diamantis Nikolaou
Head of International Sponsors Central Team: Catherine Anne Couch
Head of Administration Services: Thanasis Papageorgiou
Head of Greek Torch Relay Central Team: Penny Mikelopoulou
Head of Education & Training Central Team: Costas Politis
Head of Licensing Central Team: Theocharis Diamantidis
Head of Energy Central Team: John Karangelos
Head of Ambush Marketing Central Team: Giannis Zourdos
Head of Transfer of Knowledge Central Team: Constantinos Zaharopoulos
Coordinator of Venue Operations & Sports Equipment Central Team: Giannis Giannouris
Head of Accounting Central Team: Christos Mademlis
Head of Information Technology Central Team: Alexios Argyris
Head of Culture & Public Relations Central Team: Evelyn Kanellea
Head of Procurement Central Team: Panagiotis Daveros
Coordinator of Opening Ceremony: Tito Komninos
Head of Opening & Closing Ceremonies Central Team: Loukia Antoniades
Coordinator of Venue Site Management Central Team: Theodore Azas
Head of Site Management of OAKA Venues: Haris Batsios
Head of Site Management of Helliniko & Faliro Venues: Spyros Kapeletzis
Head of Site Management of Olympic Villages: Chloe Patrineli
Head of Site Management of Accommodation Facilities: Constantinos Baklessis
Head of Telecommunications Central Team: Alexis Iliadis
Head of Language & Interpretation Services: Anna Kyrtsou
Head of Internal Audit Services Central Team: Nikolaos Themelis
Head of Spectator Services Central Team: Vassilis Vavakos
Head of Rate Card Services Central Team: Antonis Gravanis
Head of Translation Services: loannis Dimolitsas
Head of President's Office: Evgenia Papathanassopoulou
Head of Board of Directors Secretariat: Katia Apostolopoulou
Manager of Managing Director's (I. Spanudakis) Office: Nota Tsouni
Manager of Executive Director's (Th. Papapetropoulos) Office: Maria Rantou
Manager of Executive Director's (Y. Pyrgiotis) Office: Chryssoula Mendrinou
Manager of Executive Director's (M. Simitsek) Office: Natalia Hadji
ATHOC GAMES OPERATIONS: Command Centres and Central Teams
Official Report of the XXVIII Olympiad530