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 2008 ended in June 30th 2008
In agreance with decision 6/448/11.10.2007 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.
Company's web site:
Approval date from the B.O.D.
of quarterly periodic financial statements: 31 Ιουλίου 2008
Amounts expressed in €Amounts expressed in €
ASSETS30.06.200831.12.200730.06.200831.12.20071.1 -1.1 -1.1 -1.1 -
Tangible fixed assets8,444,816.758,358,170.018,176,130.438,358,170.01
Intangible fixed assets124,522.2783,311.3294,469.5383,311.32Sales Turnover12,095,433.2811,154,312.7112,016,734.9111,154,312.71
Other non current assets204,872.67168,143.77518,093.60168,143.77Gross profit7,153,518.606,015,935.697,105,526.016,015,935.69
Inventories5,279,956.184,427,237.375,126,350.504,427,237.37Profit/(loss) before tax, interest,
Trade debtors16,512,963.3314,827,625.0116,477,013.5814,827,625.01and investing results 3039821.712,521,990.383,160,721.162,521,990.38
Other current assets2,316,879.151,606,995.232,030,639.111,606,995.23
Profit/(loss) before tax2,857,498.592,315,835.282,977,981.202,315,835.28
TOTAL ASSETS32,884,010.3529,471,482.7132,422,696.7529,471,482.71
Profit/(loss) after tax 2,149,271.031,804,200.912,232,974.581,804,200.91
Company's shareholders2,174,331.581,804,200.912,232,974.581,804,200.91
Paid up share capital8,313,146.008,313,146.008,313,146.008,313,146.00Minority Shareholders'10,712,357.690.000.000.00
Other shareholders' equity8,535,477.378,111,281.798,594,120.378,111,281.79Profit after tax per share in (€)0.09980.08280.10250.0828
Total shareholders' equity (a)16,848,623.3716,424,427.7916,907,266.3716,424,427.79
Profit/(loss) before tax, interest,
Minority rights (b)124,939.450.000.000.00investing results and depreciation3,303,039.832,788,245.023,415,483.472,788,245.02
Total equity (c) = (a) + (b)16,973,562.8216,424,427.7916,907,266.3716,424,427.79
Amounts expressed in €
Long term liabilities4,166,000.003,332,800.004,166,000.003,332,800.00
Provisions/ Other long term liabilities1,435,420.80690,464.351,435,420.80690,464.35GROUPCOMPANY
Short term liabilities426,042.261,630,610.57426,042.261,630,610.571.4 -1.4 -1.4 -1.4 -
Other short term liabilities9,882,984.477,393,180.009,487,967.327,393,180.0030.06.200830.06.200730.06.200830.06.2007
Total liabilities (d)15,910,447.5313,047,054.9215,515,430.3813,047,054.92
Sales Turnover4,910,230.224,243,815.764,831,531.854,243,815.76
TOTAL SHAREHOLDERS EQUITY & LIABILITIES (e)=(a)+(d)32,884,010.3529,471,482.7132,422,696.7529,471,482.71Gross profit3,078,494.632,138,198.573,030,502.042,138,198.57
Profit/(loss) before tax, interest,
and investing results 934,637.87784,238.071,055,537.32784,238.07
Profit/(loss) before tax850,482.91685,482.29970,965.53685,482.29
Profit/(loss) after tax 568,291.94511,231.15651,995.49511,231.15
Amounts expressed in €Distribution:
GROUPCOMPANYCompany's shareholders593,352.49511,231.15651,995.49511,231.15
30.06.200830.06.200730.06.200830.06.2007Minority Shareholders'10,712,357.690.000.000.00
Profit after tax per share in (€)0.02720.02340.02980.0234
Opening balance (01.01.2008& 01.01.2007 respectively)16,424,427.7914,876,955.7916,424,427.7914,876,955.79
Year's Profit / (loss) after taxes2,149,271.031,804,200.912,232,974.581,804,200.91Profit/(loss) before tax, interest,
Dividends-1,750,136.001,072,429,222.00-1,750,136.001,072,429,222.00investing results and depreciation1,069,324.60914,915.221,181,768.23914,915.22
Net income towards equity0.
Minority Stake in Subsidiary150,
Bought / (Sold) own shares0.
Year end equity (31.03.2008 & 31.03.2007 respectively)16,973,562.8215,368,554.7016,907,266.3715,368,554.701.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 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 been made that depicts the effect on the financial statements. Our subsidiary Cosmokid S.A. was incorporated in 2008 and has not filed any income tax return.
1.4 CASH FLOW STATEMENT2.All standard accounting pronciples have remained in force as in the 31.12.2007 Financial Statements.
Amounts expressed in €GROUPCOMPANY3.No circumstance in regards to changes in accounting principles and projections exited that would effect the comparability of the data presented.
1.1 -1.1 -1.1 -1.1 -4.There were no, during the present fiscal period, any buyouts, consolidations, sell-off, secession, or reorganization of any of the company's parts. There was only the incorporation of the subsidiary company Cosmokid S.A. of which AS Company S.A. has 70% stake.
Operating activities5.There were no changes in the company's fiscal year period, therefore all information presented is comparable.
Profit before tax2,857,498.592,315,835.282,977,981.202,315,835.286.During the 2nd quarter the company for the first time issued consolidated financial statements in which the results of its subsidiary Cosmokid S.A., with its corresponding stake of 70%, and date of incorporation 04/04/2008. The mother company's financial results are not incorporated in any other company's consolidated financial statements.
Increase / Decrease adjustments for:
Depreciation263,218.12266,254.64254,762.31266,254.647.There is no mortgaging over company's fixed assets.
Previsions0. purchases in tangible and intangible fixed assets for the 1st half 2008 were 412.711,22€. On a consolidated basis and 86.759,05€ for the mother company.
Investing Activities Results (income, expences, profit & loss) -6,596.1614,928.0710,731,784.7314,928.079.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. As of 30/06/2008 there were provisions made on inventory of € 616.163,94 , receivables provision of € 368.595,89, and retirement provision of € 164.748,90. There were no other provisions made.
Interest Expense188,565.19222,216.20188,373.47222,216.20
Increase / Decrease adjustments for working capital:10.The profits per share were based on the average trading shares less the own owned shares aquired by the Company.
Decrease/(increase) in inventories9,884,699.4310,007,169.0010,038,305.1110,007,169.0011.The number of staff employed by the Company as at the end of period is 60 and it was 56 at the end of the respective period.
Decrease/(increase) in receivables9,133,324.927,989,943.699,292,060.937,989,943.69As 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. On 03/07/2008 it was decided by the BOD that these shares would be distributed to its employees based on specific criteria.
(Decrease)/increase in current liabilities (excluding borrowings)2,802,382.702,461,471.992,407,365.552,461,471.9912.
Minus :13.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
Interest Received10,548,853.0510,515,202.0410,549,044.7710,515,202.04period, which have resulted from transactions from related sectors, such as defined by IAS standard 24 are as follows:
Income taxes paid10,458,815.3810,496,859.6810,458,815.3810,496,859.68
Total cash flows from operating activities (a)3,181,088.261,340,207.633,211,402.251,340,207.63
Investing Activities
Purchase of tangible and intangible assets10,324,707.0210,598,465.06-86,759.0410,598,465.06
Proceeds from sales of tangible and intangible assets21,989.510.002,878.100.00 a) Sales of goods and services011,677.65
Proceeds from sales (puschase) of securities0.0010,729,666.030.0010,729,666.03 b) Purchase of goods and services00.00
Interest income12,995.984,922.4312,387.434,922.43 c) Trade debtors01,191.40
Dividends income0. d) Liabilities0478.54
Total cash flows from ivnesting activities (b)-377,725.73-141,782.96-71,493.51-141,782.96 e) Transactions & salaries of managerial staff and the board271160.83262,247.58
Financing activities f) Receivables fron managerial staff and the board00.00
Proceeds from Subsidiary150, g) Liabilities towards managerial staff and te board05,457.98
Proceeds from share capital increase0.00277,006.490.00277,006.49
Proceeds from borrowings10,366,049.930.0010,366,049.930.00Thessaloniki, July 31st 2008
Borrowings paid-33,975.38-41,174.64-33,975.38-41,174.64
Dividends paid-1,750,136.001,072,429,222.00-1,750,136.001,072,429,222.00
Total cash flows from Financing activities ( c)-2,005,479.69-1,076,770.15-2,155,479.69-1,076,770.15
Net increase / (Decrease) in cash
and cash equivalents (a) + (b) + ( c)797,882.84121,654.52984,429.05121,654.52
Cash and cash equivalents opening balance1,155,926.46351,041.971,155,926.46351,041.97
Cash and cash equivalents closing balance1,953,809.30472,696.492,140,355.51472,696.49