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| | | AS COMPANY S.A. COMMERCIAL INDUSTRIAL COMPUTER & TOY COMPANY | | |
| | | 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 ended in June 30th 2011 | | |
| | | Published according to the decision 4/507/28.04.2009 of the B.O.D. of Helenic Republic Capital Market Commission | | |
| | | The figures presented below provide information about the financial position of AS Company S.A. | | |
| | | The reader is reccommended, before entering into any investment activity | | |
| | | with the company to access the Company's web site, where the annual financial statements | | |
| | | and Certified Auditors Accountant Audit Report are posted. | | |
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| | Company's web site | | : www.ascompany.gr | | | | | | | | | | | | | | | | | | | | |
| | Approval date from the B.O.D. | | | | | | | | | | | | | | | | | | | | | | |
| | for annual financial statements | | : August 26th 2011 | | | | | | | | | | | | | | | | | | | | |
| | Certified Auditor Accountant | | : Ioannis V. Kalogeropoulos - L.C./Accociation of Certified Auditors 10741 | | | | | | | | | | | | | | | | | | | | |
| | Auditing Association & Certified Auditing Firm | | : BAKER TILLY HELLAS ΑΕ - L.C./ Accociation of Certified Auditors Ε 148 | | | | | | | | | | | | | | | | | | | | |
| | Type of Review Opinion | | : Unqualified | | | | | | | | | | | | | | | | | | | | |
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| | | 1. BALANCE SHEET | | | | | | | | | | | 2. STATEMENT OF COMPREHENSIVE INCOME | | | | | | | | | | |
| | | Amounts expressed in € | | | | | | | | | | | Amounts expressed in € | | | | | | | | | | |
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| | ASSETS | | | | 30.06.2011 | | 31.12.2010 | | | | | | | | 1.1 to | | 1.1 to | | 1.4 to | | 1.4 to | | |
| | | | | | | | | | | | | | | | 30.06.2011 | | 30.06.2010 | | 30.06.2011 | | 30.06.2010 | | |
| | Tangible fixed assets | | | | 7,763,427.42 | | 7,846,303.92 | | | | | | | | | | | | | | | | |
| | Intangible fixed assets | | | | 46,162.43 | | 40,751.42 | | | | | Sales Turnover | | | 9,728,651.62 | | 10,510,496.21 | | 5,144,270.86 | | 2,551,535.26 | | |
| | Other non-current assets | | | | 307,985.07 | | 269,985.25 | | | | | Gross profit / (loss) | | | 5,164,334.33 | | 5,838,444.79 | | 2,596,497.26 | | 1,356,083.60 | | |
| | Inventories | | | | 4,397,455.84 | | 5,605,117.57 | | | | | Profit/(loss) before tax, interest, | | | | | | | | | | | |
| | Trade debtors | | | | 12,762,458.44 | | 12,718,906.55 | | | | | investing results | | | 1,587,533.03 | | 1,478,488.41 | | 678,482.60 | | 10,576,429.21 | | |
| | Other current assets | | | | 6,413,035.84 | | 4,682,732.15 | | | | | Profit/(loss) before tax | | | 1,557,107.33 | | 1,430,558.55 | | 675,035.22 | | 10,563,435.67 | | |
| | TOTAL ASSETS | | | | 31,690,525.04 | | 31,163,796.86 | | | | | Profit/(loss) after tax (Α) | | | 1,241,355.72 | | 830,196.14 | | 549,771.42 | | -386,690.63 | | |
| | | | | | | | | | | | | - Owners of the parent | | | 1,241,355.72 | | 830,196.14 | | 549,771.42 | | -386,690.63 | | |
| | SHAREHOLDERS' EQUITY AND LIABILITIES | | | | | | | | | | | - Minority Shareholders' | | | 0.00 | | 0.00 | | 0.00 | | 0.00 | | |
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| | Paid up share capital | | | | 8,313,146.00 | | 8,313,146.00 | | | | | Other Profit/(loss) after tax (Β) | | | 0.00 | | 0.00 | | 0.00 | | 0.00 | | |
| | Other shareholders' equity | | | | 10,488,878.81 | | 9,247,523.09 | | | | | Total Profit | | | | | | | | | | | |
| | Total Shareholder's Equity (a) | | | | 18,802,024.81 | | 17,560,669.09 | | | | | after tax (Α) + (Β) | | | 1,241,355.72 | | 830,196.14 | | 549,771.42 | | -386,690.63 | | |
| | | | | | | | | | | | | - Owners of the parent | | | 1,241,355.72 | | 830,196.14 | | 549,771.42 | | -386,690.63 | | |
| | Minority Rights (b) | | | | 0.00 | | 0.00 | | | | | -Minority Shareholders' | | | 0.00 | | 0.00 | | 0.00 | | 0.00 | | |
| | Total Equity (c) = (a) + (b) | | | | 18,802,024.81 | | 17,560,669.09 | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | Profit after tax per share in (€) | | | 0.0567 | | 0.0379 | | 0.0251 | | -0.0177 | | |
| | Long term liabilities | | | | 6,134,800.00 | | 6,134,800.00 | | | | | | | | | | | | | | | | |
| | Provisions / Other long term liabilities | | | | 1,055,837.52 | | 945,591.94 | | | | | Profit/(loss) before tax, interest, | | | | | | | | | | | |
| | Short term borrowing liabilities | | | | 534,600.00 | | 1,069,200.00 | | | | | investing results and depreciation | | | 1,805,799.16 | | 1,698,101.05 | | 788,253.15 | | 10,685,961.15 | | |
| | Other short term liabilities | | | | 5,163,262.71 | | 5,453,535.83 | | | | | | | | | | | | | | | | |
| | Total liabilities (d) | | | | 12,888,500.23 | | 13,603,127.77 | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | 3. STATEMENT OF CHANGES IN EQUITY | | | | | | | | | | |
| | TOTAL SHAREHOLDERS EQUITY & LIABILITIES (c) + (d) | | | | 31,690,525.04 | | 31,163,796.86 | | | | | | Amounts expressed in € | | | | | | | | | | |
| | | | | | 0.00 | | 0.00 | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | 30.06.2011 | | 30.06.2010 | | | | |
| | | 4. CASH FLOW STATEMENT | | | | | | | | | | Opening balance | | | | | | | | | | | |
| | | Amounts expressed in € | | | | | | | | | | (01.01.2011 & 01.01.2010 accordingly) | | | | | 17,560,669.09 | | 18,308,829.91 | | | | |
| | | | | | | | | | | | | Year's Profit / (loss) | | | | | | | | | | | |
| | | | | | 1.1 to | | 1.1 to | | | | | after taxes | | | | | 1,241,355.72 | | 830,196.14 | | | | |
| | | | | | 30.06.2011 | | 30.06.2010 | | | | | Dividends | | | | | 0.00 | | 1,072,647,989.00 | | | | |
| | Operating activities | | | | | | | | | | | Net income towards equity | | | | | 0.00 | | 0.00 | | | | |
| | Profit before tax | | | | 1,557,107.33 | | 1,430,558.55 | | | | | Year's end equity | | | | | | | | | | | |
| | Increase / Decrease adjustments for: | | | | | | | | | | | (30.06.2011 & 30.06.2010 accordingly) | | | | | 18,802,024.81 | | 18,045,191.05 | | | | |
| | Depreciation | | | | 218,266.13 | | 219,612.64 | | | | | | | | | | | | | | | | |
| | Previsions | | | | -30,000.00 | | -251,813.00 | | | | | | | | | | | | | | | | |
| | Foreign Exchange Differences | | | | 10,566,710.82 | | 10,534,823.35 | | | | | 5. NOTES | | | | | | | | | | | |
| | Investing Activities Results (income, expences, profit & loss) | | | | 162,489.03 | | 165,594.61 | | | | | | | | | | | | | | | | |
| | Interest Expense | | | | 99,951.64 | | 75,788.89 | | | | 1. | In the above financial statements the basic accounting principles applied are consistent with those applied for the balance sheet of the previous period. | | |
| | Increase / Decrease adjustments for working capital: | | | | | | | | | | | | | | | | | | | | | | |
| | Decrease/(increase) in inventories | | | | 1,207,661.73 | | 9,882,113.35 | | | | 2. | There were no changes such as, in accounting policies, appreciation, correction in accounting mistakes, changes of entries in financial statements, regarding last year. During fiscal year 2011 the company changed the stock valuation method. (please see note 5.2 in financial statement notes). | | |
| | Decrease/(increase) in receivables | | | | 216,201.31 | | 9,320,051.02 | | | | | | |
| | (Decrease)/increase in current liabilities (excluding borrowings) | | | | -382,001.24 | | 909,537.63 | | | | | | |
| | Minus : | | | | | | | | | | 3. | There weren't any company proceedings such as take over, sale, merger of other company or branch, secession of branch and reorganization, neither break in any operation. | | |
| | Interest Paid | | | | 10,637,466.60 | | 10,661,629.35 | | | | | | |
| | Income taxes paid | | | | 10,563,131.44 | | 10,657,780.21 | | | | 4. | There were no changes in the company's fiscal year period, therefore all information presented is comparable. | | |
| | Total cash flows from operating activities (a) | | | | 2,604,730.07 | | -81,414.60 | | | | | | |
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| | Investing Activities | | | | | | | | | | 5. | The Financial Statements are not included in other consolidated financial statements published by other companies. The company had consolidated financial statements up to 2009 including figures of subsidiary COSMOKID S.A. which was absorded by mother company in 2009. | | |
| | Subsidiary | | | | 0.00 | | 0.00 | | | | | | |
| | Purchase of tangible and intangible assets | | | | 10,568,582.80 | | 10,695,182.30 | | | | | | |
| | Proceeds from sales of tangible and intangible assets | | | | 0.00 | | 0.00 | | | | | | | | | | | | | | | | |
| | Proceeds from sales of securities | | | | 0.00 | | 0.00 | | | | 6. | There do not exist any types of arbitration or pending litigation matters of the Company that could have a material adverse effect on financial condition or operation of the Company and therefore there do not exist any corresponding provisions. Provisions for the unaudited tax years of AS Company have been made which amount to € 315.000,00 while accumulated provisions amount to € 1.644.268,19. (please see note 5.6 in financial statement notes). | | |
| | Interest income | | | | 70,639.24 | | 30,355.43 | | | | | | |
| | Dividends income | | | | 0.00 | | 0.00 | | | | | | |
| | Total cash flows from ivnesting activities (b) | | | | -98,196.20 | | -11,880.51 | | | | | | |
| | Financing activities | | | | | | | | | | | | |
| | Proceeds from Subsidiary | | | | 0.00 | | 0.00 | | | | 7. | The number of staff employed by the Company was 71 employees as at the end of the reported period and was 71 εemployees , accordingly at the end of the previous respective period. A retirement provisions has been made that amounts to € 212.973,57. | | |
| | Proceeds from increased capital | | | | 0.00 | | 0.00 | | | | | | |
| | Proceeds from borrowings | | | | -534,600.00 | | 1,449,390.93 | | | | | | |
| | Inflow from Government Programs | | | | 74,900.00 | | 0.00 | | | | 8. | The Company has been audited by the tax authorities up to and including the fiscal year 2004 (please see note 5.5 in financial statement notes). | | |
| | Borrowings paid | | | | 0.00 | | 0.00 | | | | | | | | | | | | | | | | |
| | Payments of leasing liabilities | | | | 10,687,743.86 | | 10,683,573.98 | | | | 9. | The amounts of sales and purchases from the beginning of the fiscal period and the balance of receivables and liabilities of the Company at the end of the fiscal period which have resulted from transactions from related sectors, such as defined by IAS standard 24 are as follows: | | |
| | Dividends paid | | | | 10,722,279.37 | | 0.00 | | | | | | |
| | Total cash flows from Financing activities (c) | | | | -524,513.25 | | 1,395,546.67 | | | | | | |
| | Net increase / (Decrease) in cash | | | | | | | | | | | | | | | | COMPANY | | | | | | |
| | and cash equivalents (a) + (b) + (c) | | | | 1,982,020.62 | | 1,302,251.56 | | | | | a) Sales of goods and services | | | | | 0.00 | | | | | | |
| | Cash and cash equivalents opening balance | | | | 3,905,610.38 | | 2,869,849.86 | | | | | b) Purchase of goods and services | | | | | 0.00 | | | | | | |
| | Cash and cash equivalents closing balance | | | | 5,887,631.00 | | 4,172,101.42 | | | | | c) Trade debtors | | | | | 0.00 | | | | | | |
| | | | | | | | | | | | | d) Liabilities | | | | | 0.00 | | | | | | |
| | | | | | | | | | | | | e) Transactions & salaries of managerial staff and the board | | | | | 325,709.53 | | | | | | |
| | | | | | | | | | | | | f) Receivables fron managerial staff and the board | | | | | 0.00 | | | | | | |
| | | | | | | | | | | | | g) Liabilities towards managerial staff and the board | | | | | 0.00 | | | | | | |
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| | | | | | | | | | | | | | | | Thessaloniki, August 26th 2011 | | | | | | | | |
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