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| | | | AS COMPANY S.A. | | | | |
| | | | Company's Number in the Register of Societes Anonymes 22949/06/Β/90/107 Headquarters: Municipality of Oraiokastro County of Thessaloniki | | | | |
| | | | FINANCIAL STATEMENTS INFORMATION January 1st 2007 ended in September 30th 2007 | | | | |
| | | | In agreance with decision 2/396/31.08.2006 of the Hellenic Comission of Market Capitalization | | | | |
| | | | The figures presented below provide information about the financial position of AS COMPANY S.A. | | | | |
| | | | The reader who seeks to draft a completed figure of the company's financial statement and financial results, sould get access | | | | |
| | | | to the Company's web site, where the annual financial statements according to International Accounting Standards | | | | |
| | | | and Certified Auditors Accountant Audit Report are posted. | | | | |
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| | | COMPANY'S INFORMATION DATA | | | | | | | | | | | | | | | | | | |
| | | Supervising Authority | | : Ministry of Development - Department of SA companies | Ministry of Development - Department of SA companies | | | | | | | | | | | | | | | | | |
| | | Approval date from the B.O.D. | | | | | | | | | | | | | | | | | | | | |
| | | of quarterly periodic financial statements | | : 22nd November 2007 | | | | | | | | | | | | | | | | | | |
| | | Certified Auditor Accountant | | : Evaggelos Ν. Pagonis - L.C./ Accociation of Certified Auditors: 14211 | | | | | | | | | | | | | | | | | | |
| | | Auditing Association & Certified Auditing Firm | | : BAKER TILLY HELLAS ΑΕ - L.C./ Accociation of Certified Auditors: Ε 148 | | | | | | | | | | | | | | | | | | |
| | | Type of Review Opinion | | : With no qualification | | | | | | | | | | | | | | | | | | |
| | | Company's web site | | : www.ascompany.gr | | | | | | | | | | | | | | | | | | |
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| | | BALANCE SHEET | | | | | | | PROFIT AND LOSS STATEMENT | | | | | | | | | | | | |
| | | Amounts expressed in € | | | | | | | Amounts expressed in € | | | | COMPANY | | | | | | | | |
| | | | | | | COMPANY | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | 1.1 to | | 1.1 to | | 1.4 to | | 1.4 to | | | | |
| | | ASSETS | | 30.09.2007 | | 31.12.2006 | | | | | | 30.09.2007 | | 30.09.2006 | | 30.09.2007 | | 30.09.2006 | | | | |
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| | | Non-current assets | | | | | | | Sales Turnover | | | 16,656,555.02 | | 12,068,002.78 | | 5,502,242.31 | | 4,073,842.01 | | | | |
| | | Tangible fixed assets | | 8,446,163.34 | | 8,737,598.96 | | | Cost of goods sold | | | -8,218,056.80 | | -6,237,620.86 | | 7,657,738.46 | | 8,364,441.35 | | | | |
| | | Intangible fixed assets | | 66,577.17 | | 21,886.56 | | | Gross profit | | | 8,438,498.22 | | 5,830,381.92 | | 2,422,562.53 | | 1,700,865.12 | | | | |
| | | Investing activities and other long term recievables | | 182,967.50 | | 96,765.94 | | | Other income | | | 39,861.78 | | 48,169.48 | | 17,430.60 | | 1,080.84 | | | | |
| | | | | | | | | | Administration expenses | | | 9,898,748.16 | | 9,994,255.14 | | 10,451,487.32 | | 10,522,295.14 | | | | |
| | | Current assents | | | | | | | Selling and Distribution expenses | | | 6,993,245.38 | | 8,320,206.73 | | 9,614,680.76 | | 10,132,896.47 | | | | |
| | | Inventories | | 5,126,416.82 | | 3,550,394.34 | | | Research and Development expenses | | | 10,624,848.51 | | 10,646,521.56 | | 10,700,795.82 | | 10,715,091.14 | | | | |
| | | Trade debtors | | 18,054,300.91 | | 13,297,972.00 | | | Profit/(loss) before tax, interest, | | | | | | | | | | | | | |
| | | Short term investing activities | | 25,632.88 | | 13,108.00 | | | investing results and depreciation | | | 3,782,947.33 | | 2,627,280.11 | | 994,702.31 | | 859,973.99 | | | | |
| | | Other assets | | 527,775.56 | | 304,948.25 | | | Depreciation | | | 10,348,018.92 | | 10,344,883.46 | | 10,614,273.56 | | 10,603,025.37 | | | | |
| | | Cash and cash equivalents | | 926,614.24 | | 351,041.97 | | | Profit/(loss) before tax, interest, | | | | | | | | | | | | | |
| | | | | | | | | | and investing results | | | 3,393,548.01 | | 2,234,745.33 | | 871,557.63 | | 725,581.12 | | | | |
| | | TOTAL ASSETS | | 33,356,448.42 | | 26,373,716.02 | | | Financing activities expenses | | | 10,369,738.23 | | 10,518,841.79 | | 10,575,893.33 | | 10,671,737.66 | | | | |
| | | | | | | | | | Profit/(loss) before tax | | | 3,025,868.00 | | 2,016,168.88 | | 710,032.72 | | 659,900.54 | | | | |
| | | | | | | | | | Less:Taxes | | | 10,147,087.47 | | 9,924,478.01 | | 10,658,721.84 | | 10,489,344.22 | | | | |
| | | SHAREHOLDERS' EQUITY AND LIABILITIES | | | | | | | Profit/(loss) after tax from continued operations (a) | 2,435,537.23 | | 1,203,228.65 | | 631,336.32 | | 411,826.52 | | | | |
| | | | | | | | | | Profit/(loss) after tax from discontinued operations (b) | 0.00 | | 0.00 | | 0.00 | | 0.00 | | | | |
| | | Long term liabilities | | | | | | | Profit/(loss) after tax (continued and | | | | | | | | | | | |
| | | Borrowings | | 4,347,826.10 | | 4,347,826.10 | | | discontinued operations) (a) + (b) | 2,435,537.23 | | 1,203,228.65 | | 631,336.32 | | 411,826.52 | | | | |
| | | Other long term liabilities | | 1,453,559.82 | | 747,415.72 | | | Distribution: | | | | | | | | | | | | | |
| | | | | | | | | | Company's shareholders | | | 2,435,537.23 | | 1,203,228.65 | | 631,336.32 | | 411,826.52 | | | | |
| | | Short term liabilities | | | | | | | Minority Shareholders' | | | 0.00 | | 0.00 | | 0.00 | | 0.00 | | | | |
| | | Debts to trade creditors | | 3,210,170.43 | | 2,486,442.27 | | | Profit after tax per share in (€) | | | 0.111 | | 0.055 | | 0.029 | | 0.019 | | | | |
| | | Borrowings | | 4,019,715.32 | | 828,868.45 | | | | | | | | | | | | | | | | |
| | | Other short term liabilities | | 4,319,601.93 | | 3,086,207.69 | | | | | | | | | | | | | | | | |
| | | Total liabilities (a) | | 17,350,873.60 | | 11,496,760.23 | | | | | | | | | | | | | | | | |
| | | | | | | | | | | STATEMENT OF CHANGES IN EQUITY | | | | | | | | | | | | |
| | | Share capital and Reserves | | | | | | | | Amounts expressed in € | | | | COMPANY | | | | | | | | |
| | | Paid up share capital | | 8,313,146.00 | | 8,313,146.00 | | | | | | 30.09.2007 | | 30.09.2006 | | | | | | | | |
| | | Share premium | | 74,509.17 | | 74,509.17 | | | | | | | | | | | | | | | | |
| | | Reserves | | 1,464,844.03 | | 1,369,022.72 | | | Opening balance (01.01.2007& 01.01.2006 respectively) | | | 14,876,955.79 | | 14,224,116.48 | | | | | | | | |
| | | Profits | | 6,153,075.62 | | 5,120,277.90 | | | Year's Profit / (loss) after taxes | | | 2,435,537.23 | | 1,203,228.65 | | | | | | | | |
| | | Total Shareholders Equity (b) | | 16,005,574.82 | | 14,876,955.79 | | | Dividends | | | 1,072,429,222.00 | | 1,072,647,989.00 | | | | | | | | |
| | | Minority Rights ( c) | | 0.00 | | 0.00 | | | Net income towards equity | | | 5,683.80 | | 0.00 | | | | | | | | |
| | | Total Equity (d) = (b) +( c) | | 16,005,574.82 | | 14,876,955.79 | | | Bought / (Sold) own shares | | | 0.00 | | 0.00 | | | | | | | | |
| | | TOTAL SHAREHOLDERS EQUITY AND LIABILITIES (e) = (a) + (d) | | 33,356,448.42 | | 26,373,716.02 | | | Year end equity (30.06.2007 & 30.06.2006 respectively) | | | 16,005,574.82 | | 14,333,510.13 | | | | | | | | |
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| | | CASH FLOW STATEMENT | | | | | | | | | | | | | | | | | | | |
| | | Amounts expressed in € | | | ΕΤΑΙΡΕΙΑ | | | | | | | | | | | | | | | | |
| | | | | 1.1- | | 1.1 - | | | Notes: | | | | | | | | | | | | | |
| | | Operating activities | | 30.09.2007 | | 30.09.2006 | | | | | | | | | | | | | | | | |
| | | Profit before tax | | 3,025,868.00 | | 2,016,168.88 | | 1. | The Company's tax returns have been audited by the tax authorities up to and including the fiscal year 2004, with the chance of an imposition of further taxation and surcharges throughout | | | | | | | | | | | | | |
| | | Increase / Decrease adjustments for: | | | | | | | the year that will be reviewed and defined in the tax returns of the unaudited fiscal years. The results of the audit can not be projected at this time and therefore no relevant projection has | | | | | | | | | | | | | |
| | | Depreciation | | 389,399.32 | | 392,534.78 | | | been made that depicts the effect on the financial statements. | | | | | | | | | | | | | |
| | | Previsions | | 6,226.41 | | 10,718,503.94 | | 2. | No circumstance in regards to changes in accounting principles and projections exited that would effect the comparability of the data presented. | | | | | | | | | | | | | |
| | | Investing Activities Results (income, expences, profit & loss) | | 5,683.80 | | 0.00 | | | | | | | | | | | | | | | | |
| | | Interest Expense | | 391,065.37 | | 240,506.66 | | 3. | There were no, during the present fiscal period, any buyouts, consolidations, sell-off, secession, or reorganization of any of the company's parts. | | | | | | | | | | | | | |
| | | Increase / Decrease adjustments for working capital: | | | | | | 4. | There were no changes in the company's fiscal year period, therefore all information presented is comparable. | | | | | | | | | | | | | |
| | | Decrease/(increase) in inventories | | 9,161,395.76 | | 10,148,507.54 | | 5. | .The company does not report on a consolidated basis, or are its financial statements consolidated with another company's. | | | | | | | | | | | | | |
| | | Decrease/(increase) in receivables | | 5,758,262.02 | | 787,661.23 | | | | | | | | | | | | | | | | |
| | | (Decrease)/increase in current liabilities (excluding borrowings) | | 2,214,795.20 | | 8,466,052.79 | | 6. | There is no mortgaging over company's fixed assets. | | | | | | | | | | | | | |
| | | Minus : | | | | | | 7. | There do not exist any types of arbitration or pending litigation matters that could have a material adverse effect on AS Company S.A. financial condition. | | | | | | | | | | | | | |
| | | Interest Received | | 10,346,352.87 | | 10,496,911.58 | | | | | | | | | | | | | | | | |
| | | Income taxes paid | | 10,479,745.44 | | 10,543,798.35 | | 8. | The number of staff employed by the Company as at the end of period is 61 and it was 55 at the end of the respective period. | | | | | | | | | | | | | |
| | | Total cash flows from operating activities (a) | | -1,170,878.77 | | 123,554.55 | | | | | | | | | | | | | | | | |
| | | Investing Activities | | | | | | 9. | As of 31.12.2005 the Company has acquired through the Athens Stock Exchange 94.730 same shares at an average price of € 0,766 total € 72.559,90. | | | | | | | | | | | | | |
| | | Purchase of tangible and intangible assets | | 10,594,763.93 | | 10,613,246.11 | | 10. | The amounts of sales and purchases from the beginning of the fiscal period and the balance of receivables and liabilities at the end of the fiscal period, | | | | | | | | | | | | | |
| | | Proceeds from sales of tangible and intangible assets | | 0.00 | | 12,010.71 | | | which have resulted from transactions from related sectors, such as defined by IAS standard 24 are as follows: | | | | | | | | | | | | | |
| | | Proceeds from sales (puschase) of securities | | 10,729,666.03 | | 0.00 | | | a) Sales of goods and services | | | 0.00 | | | | | | | | | | |
| | | Interest income | | 18,612.69 | | 13,887.71 | | | b) Purchase of goods and services | | | 0.00 | | | | | | | | | | |
| | | Dividends income | | 0.00 | | 4,736.50 | | | c) Trade debtors | | | 0.00 | | | | | | | | | | |
| | | Total cash flows from ivnesting activities (b) | | -131,793.83 | | -93,537.21 | | | d) Liabilities | | | 0.00 | | | | | | | | | | |
| | | Financing activities | | | | | | | e) Transactions & salaries of managerial staff and the board | | | 449,417.44 | | | | | | | | | | |
| | | Proceeds from share capital increase | | 0.00 | | 0.00 | | | f) Receivables fron managerial staff and the board | | | 0.00 | | | | | | | | | | |
| | | Proceeds from borrowings | | 3,190,846.87 | | 1,394,870.45 | | | g) Liabilities towards managerial staff and te board | | | 18,091.81 | | | | | | | | | | |
| | | Borrowings paid | | 0.00 | | 0.00 | | | | | | | | | | | | | | | | |
| | | Dividends paid | | 1,072,429,222.00 | | 9,324,487.84 | | | | | Thessaloniki, November 22nd 2007 | | | | | | | | | | | |
| | | Total cash flows from Financing activities ( c) | | 1,878,244.87 | | -18,059.95 | | | | | | | | | | | | | | | | |
| | | Net increase / (Decrease) in cash | | | | | | | | | | | | | | | | | | | | |
| | | and cash equivalents (a) + (b) + ( c) | | 575,572.27 | | 11,957.39 | | | | | | | | | | | | | | | | |
| | | Cash and cash equivalents opening balance | | 351,041.97 | | 274,762.42 | | | | | | | | | | | | | | | | |
| | | Cash and cash equivalents closing balance | | 926,614.24 | | 286,719.81 | | | | | | | | | | | | | | | | |
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