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 September 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 the nine month financial financial statements: 24th November 2008
Amounts expressed in €Amounts expressed in €
ASSETS30.09.200831.12.200730.09.200831.12.20071.1 to1.1 to1.1 to1.1 to
Tangible fixed assets8,424,099.858,358,170.018,067,719.438,358,170.01
Intangible fixed assets113,988.3583,311.3284,501.6683,311.32Sales Turnover18,555,147.1216,656,555.0218,349,791.3116,656,555.02
Other non-current assets422,426.39168,143.77710,087.47168,143.77Gross profit / (loss)10,266,257.608,438,498.2210,151,746.258,438,498.22
Inventories5,894,089.504,427,237.375,471,641.824,427,237.37Profit/(loss) before tax, interest,
Trade debtors17,057,750.6714,827,625.0117,000,510.2114,827,625.01investing results4,232,652.133,393,548.014,481,431.593,393,548.01
Other current assets2,469,510.391,606,995.232,197,778.371,606,995.23Profit/(loss) before tax3,927,453.083,025,868.004,176,808.773,025,868.00
TOTAL ASSETS34,381,865.1529,471,482.7133,532,238.9629,471,482.71
Profit/(loss) after tax3,136,189.862,435,537.233,323,206.642,435,537.23
Company's shareholders3,192,294.892,435,537.233,323,206.642,435,537.23
Paid up share capital8,313,146.008,313,146.008,313,146.008,313,146.00Minority Shareholders'10,681,313.
Other shareholders' equity9,552,985.088,111,281.799,684,352.438,111,281.79Profit after tax per share in (€)0.1460.1110.1520.111
Total Shareholder's Equity (a)17,866,131.0816,424,427.7917,997,498.4316,424,427.79Profit/(loss) before tax, interest,
investing results and depreciation4,627,565.283,782,947.334,862,350.323,782,947.33
Minority Rights (b)93,699.700.000.000.00
Total Equity (c) = (a) + (b)17,959,830.7816,424,427.7917,997,498.4316,424,427.79
Long term liabilities3,540,500.003,332,800.003,540,500.003,332,800.00Amounts expressed in €
Provisions / Other long term liabilities1,736,995.44690,464.351,735,995.36690,464.35GROUPCOMPANY
Short term borrowing liabilities4,228,132.891,630,610.573,888,132.891,630,610.571.7 to1.7 to1.7 to1.7 to
Other short term liabilities6,916,406.047,393,180.006,370,112.287,393,180.0030.09.200830.09.200730.09.200830.09.2007
Total liabilities (d)16,422,034.3713,047,054.9215,534,740.5313,047,054.92
Sales Turnover6,459,713.845,502,242.316,333,056.405,502,242.31
TOTAL SHAREHOLDERS EQUITY & LIABILITIES (c) + (d)34,381,865.1529,471,482.7133,532,238.9629,471,482.71Gross profit / (loss)3,112,739.002,422,562.533,046,220.242,422,562.53
Profit/(loss) before tax, interest,
investing results1,192,830.42871,557.631,320,710.43871,557.63
Profit/(loss) before tax1,069,954.49710,032.721,198,827.57710,032.72
Amounts expressed in €Profit/(loss) after tax986,918.83631,336.321,090,232.06631,336.32
30.09.200830.09.200730.09.200830.09.2007Company's shareholders1,017,963.31631,336.321,090,232.06631,336.32
Opening balanceMinority Shareholders'-31,044.480.000.000.00
(01.01.2008 & 01.01.2007 respectively)16,424,427.7914,876,955.7916,424,427.7914,876,955.79Profit after tax per share in (€)0.0470.0290.0500.029
Period's Profit / (loss) after taxes3,136,189.862,435,537.233,323,206.642,435,537.23Profit/(loss) before tax, interest,
Dividends-1,750,136.001,072,429,222.00-1,750,136.001,072,429,222.00investing results and depreciation1,324,525.45994,702.311,446,866.85994,702.31
Net income towards equity-650.875,683.800.005,683.80
Minority Stake in Subsidiary150,
Bought / (Sold) own shares0.
Period's end equity
(30.09.2008 & 30.09.2007 respectively)17,959,830.7816,005,574.8217,997,498.4316,005,574.821.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 please see note 4.26. Our subsidiary Cosmokid S.A. was incorporated in 2008 and has not filed any income tax return.
Amounts expressed in €
1.1 to1.1 to1.1 to1.1 to2.All standard accounting pronciples have remained in force as in the 31.12.2007 Financial Statements.
30.09.200830.09.200730.09.200830.09.20073.No circumstance in regards to changes in accounting principles and projections exited that would effect the comparability of the data presented.
Operating activities
Profit before tax 3,927,453.083,025,868.004,176,808.773,025,868.00
Increase / Decrease adjustments for: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, which in turn incorporated Cosmokid Albania Ltd. with a 100% stake.
Investing Activities Results (income, expences, profit & loss) -7,253.345,683.8010,731,778.415,683.805.There were no changes in the company's fiscal year period, therefore all information presented is comparable.
Interest Expense311,445.68391,065.37310,262.65391,065.37
Increase / Decrease adjustments for working capital:6.During 2008 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.
Decrease/(increase) in inventories9,270,566.119,161,395.769,693,013.799,161,395.76
Decrease/(increase) in receivables7,180,838.795,758,262.027,397,483.745,758,262.02
(Decrease)/increase in current liabilities (excluding borrowings)10,592,276.782,276,557.1610,045,983.022,276,557.16
Minus :7.There is no mortgaging over company's fixed assets.
Interest Received10,425,972.5610,346,352.8710,427,155.5910,346,352.878.The purchases in tangible and intangible fixed assets for the 3rd half 2008 were € 513.155,45 on a consolidated basis and € 94.536,59 for the mother company.
Income taxes paid10,450,243.4910,479,745.4410,450,243.4910,479,745.44
Total cash flows from operating activities (a)-1,139,649.64-1,109,116.81-810,876.07-1,109,116.819.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.
Investing Activities
Purchase of tangible and intangible assets10,246,252.3010,594,763.9310,642,881.6510,594,763.93
Proceeds from sales of tangible and intangible assets0.000.002,878.100.0010.The profits per share were based on the average trading shares less the own owned shares aquired by the Company.
Proceeds from sales (puschase) of securities0.0010,729,666.030.0010,729,666.0311.The number of staff employed by the subsidiary and mother company as at the end of period is 70 & 62 and was 61 & 61 at the end of the respective period.
Interest income18,882.1018,612.6918,273.5518,612.69
Dividends income0. 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, the BOD decided, these shares were distributed to its employees based on specific criteria.
Total cash flows from ivnesting activities (b)-472,283.84-131,793.83-423,384.94-131,793.83
Financing activities
Proceeds from Subsidiary150,
Proceeds from borrowings2,805,222.323,190,846.872,465,222.323,190,846.8713.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, which have resulted from transactions from related sectors, such as defined by IAS standard 24 are as follows:
Borrowings paid0.
Dividends paid-44,457.7510,675,656.28-44,457.7510,675,656.28
Total cash flows from Financing activities (c)-1,750,136.001,072,429,222.00-1,750,136.001,072,429,222.00GROUP
Net increase / (Decrease) in cash a) Sales of goods and services0.0034,958.18
and cash equivalents (a) + (b) + (c)-3,362,069.48-2,553,512.64-2,984,397.01-2,553,512.64 b) Purchase of goods and services0.000.00
Cash and cash equivalents opening balance1,155,926.46351,041.971,155,926.46351,041.97 c) Trade debtors0.000.00
Cash and cash equivalents closing balance-2,206,143.02-2,202,470.67-1,828,470.55-2,202,470.67 d) Liabilities0.000.00
e) Transactions & salaries of managerial staff and the board364,705.62337,297.62
f) Receivables fron managerial staff and the board0.000.00
g) Liabilities towards managerial staff and te board0.000.00
Thessaloniki, November 24th 2008