REGIONS	Operating Expenses in Euros	Earnings Before Interest and Taxes (EBIT)/Total Interest Expenses	Quick Ratio	Sales Growth	Gross Profit Margin-Growth	Property, Plant, Equipment (PPE) Growth
BALKANS (BALK)	296,809	0.936	0.9859	−1.15%	1.35%	−1.08%
EUROPEAN (EUR)	3,590,093	3.559	2.8505	10.83%	9.95%	5.19%
SCANDIVIAN (SCAND)	14,006,537	4.002	1.8676	22.21%	8.11%	10.32%
t-test	3.988^*	4.9282^*	2.818^*	−4.655^*	5.415^* (0.0000)	−2.336^* (0.002)
(BALK-EUR)	(0.0000)	(0.0000)	(0.0000)	(0.0000)	5.415^* (0.0000)	−2.336^* (0.002)
t-test	24.9276^*	5.5236^* (0.0000)	2.1927^**	8.2212^*	5.1212^* (0.0000)	3.3356^* (0.0000)
(BALK-SCAND)	(0.0000)	5.5236^* (0.0000)	(0.0211)	(0.0000)	5.1212^* (0.0000)	3.3356^* (0.0000)