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 2009
Published according to law 4/507/28.04.2009 of the B.O.D. of the Capital Markets Copmmittee
The figures presented below provide information about the financial position of AS Company S.A. and AS Company Group.
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.
Company's web site:
Approval date from the B.O.D.
for annual financial statements:August 24th 2009
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: Unqualified
Amounts expressed in €Amounts expressed in €
ASSETS30.06.200931.12.200830.06.200931.12.20081.1 to1.1 to1.1 to1.1 to
Tangible fixed assets8,271,353.448,424,386.947,886,035.787,976,435.37
Intangible fixed assets27,088.2327,841.242,493.150.00Sales Turnover13,001,450.3212,095,433.2812,233,156.0012,016,734.91
Other non-current assets429,909.68438,670.84655,452.05716,048.05Gross profit / (loss)7,161,034.697,153,518.606,839,210.747,105,526.01
Inventories7,552,413.496,989,276.017,279,606.596,691,907.29Profit/(loss) before tax, interest,
Trade debtors16,746,782.5915,075,360.5416,498,485.4914,780,919.60investing results2,651,842.693,039,821.712,800,832.633,160,721.16
Other current assets2,766,255.011,937,741.072,389,321.281,198,916.28Profit/(loss) before tax2,506,211.562,857,498.592,665,576.652,977,981.20
TOTAL ASSETS35,793,802.4432,893,276.6434,711,394.3431,364,226.59Profit/(loss) after tax (Α)1,812,479.412,149,271.031,934,575.652,232,974.58
- Owners of the parent1,812,479.412,149,271.031,934,575.652,232,974.58
Paid up share capital8,313,146.008,313,146.008,313,146.008,313,146.00/(loss) after tax (Β)
Other shareholders' equity9,706,003.149,615,578.439,968,465.229,784,025.57Total Profit
Total Shareholder's Equity (a)18,019,149.1417,928,724.4318,281,611.2218,097,171.57after tax (Α) + (Β)1,812,479.412,149,271.031,934,575.652,232,974.58
- Owners of the parent1,812,479.412,149,271.031,934,575.652,232,974.58
Minority Rights (b) -Minority Shareholders'
Total Equity (c) = (a) + (b)18,019,149.1417,928,724.4318,281,611.2218,097,171.57
Profit after tax per share in (€)0.08280.09820.08840.1021
Long term liabilities6,332,000.004,332,000.005,332,000.003,332,000.00Profit/(loss) before tax, interest,
Provisions / Other long term liabilities1,497,373.10793,105.341,487,560.90785,933.90investing results and depreciation2,876,348.733,303,039.833,004,437.753,415,483.47
Short term borrowing liabilities1,457,045.172,135,624.161,457,045.172,126,475.62
Other short term liabilities8,488,235.037,703,822.718,153,177.057,022,645.50
Total liabilities (d)17,774,653.3014,964,552.2116,429,783.1213,267,055.021.2 b STATEMENT OF COMPREHENSIVE INCOME
Amounts expressed in €
TOTAL SHAREHOLDERS EQUITY & LIABILITIES (c) + (d)35,793,802.4432,893,276.6434,711,394.3431,364,226.59GROUPCOMPANY
1.4 to1.4 to1.4 to1.4 to
1.3 STATEMENT OF CHANGES IN EQUITYSales Turnover5,054,558.394,910,230.224,719,425.434,831,531.85
Amounts expressed in €Gross profit / (loss)2,716,834.703,078,494.632,530,031.733,030,502.04
Ο ΟΜΙΛΟΣΗ ΕΤΑΙΡΕΙΑProfit/(loss) before tax, interest,
30.06.200930.06.200830.06.200930.06.2008investing results657,312.96934,637.87706,659.741,055,537.32
Opening balanceProfit/(loss) before tax598,473.26850,482.92652,435.72970,965.53
(01.01.2009 & 01.01.2008 accordingly)17,928,724.4316,424,427.7918,097,171.5716,424,427.79Profit/(loss) after tax (Α)383,359.48568,291.94425,124.64651,995.49
Year's Profit / (loss) - Owners of the parent383,359.48568,291.94425,124.64651,995.49
after taxes1,812,479.412,149,271.031,934,575.652,232,974.58 - Minority Shareholders'
Minority Shareholders share in share capital of subsidiary0.00150, after tax (Β)
Net income towards equity28,081.300.000.000.00Total Profit
Year's end equityafter tax (Α) + (Β)383,359.48568,291.94425,124.64651,995.49
(30.06.2009 & 30.06.2008 accordingly)18,019,149.1416,973,562.8218,281,611.2216,907,266.37 - Owners of the parent383,359.48568,291.94425,124.64651,995.49
-Minority Shareholders'
1.4 CASH FLOW STATEMENTProfit after tax per share in (€)0.01750.02600.01940.0298
Amounts expressed in €Profit/(loss) before tax, interest,
GROUPCOMPANYinvesting results and depreciation767,872.071,069,324.59806,711.621,181,768.23
1.1 to1.1 to1.1 to1.1 to
Operating activitiesNotes:
Profit before tax 2,506,211.562,857,498.592,665,576.652,977,981.201.The B.O.D., of mother company AS COMPANY S.A. and subsidiary company COSMOKID S.A. (participation percentage 100%), at their July 16th 2009 meeitngs, decided on the merger, by absorption of the second commpany by the firtst, according to terms of the articles 1 to 5 of law 2166/1993 and the article 78 of low 2190/1920. As date of absorption has been arranged the 30.06.2009 in which date the acquisition value of the participation was € 390.000,00 and the net ecquity of subsidiary company was € 127.537,92. (please see note 5.1 in financial statement notes).
Increase / Decrease adjustments for:
Foreign Exchange Differences10,653,124.950.0010,653,124.950.00
Investing Activities Results (income, expences, profit & loss) 156,519.91-6,596.1682,413.4410,731,784.73
Interest Expense148,165.21188,565.19135,231.83188,373.472.There were no changes such as, in accounting policies, appreciation, correction in accounting mistakes, changes of entries in financial statements, regarding last year.
Increase / Decrease adjustments for working capital:
Decrease/(increase) in inventories10,174,280.769,884,699.43-587,699.3010,038,305.11
Decrease/(increase) in receivables9,482,650.319,133,324.92-1,311,395.889,292,060.933.During the ending period COSMOKID S.A. transferred ownership of the store its subsidiary company COSMOKID ALBANIA LTD, in Tirana, and participation percentage 100%, to a local agent, which has undertaken the development and the management of retail stores (children's clothing IDEXE and toys AS) all over Albania. (please see note 5.3 in financial statement notes). There weren't any other facts such as takeover, sell, merger of other part of the company or branch.
(Decrease)/increase in current liabilities (excluding borrowings)1,268,488.992,802,382.701,614,608.222,407,365.55
Minus :
Interest Paid10,589,253.0310,548,853.05-135,231.8310,549,044.77
Income taxes paid10,283,875.4610,458,815.3810,283,875.4610,458,815.384.There were no changes in the company's fiscal year period, therefore all information presented is comparable.
Total cash flows from operating activities (a)1,802,625.783,181,088.262,129,272.183,211,402.25
5.The Financial Statements are not included in other consolidated financial statements published by other companies. During this period in consolidated financial statements of the group the company COSMOKID ALBANIA LTD is not inlcuded.
Investing Activities
Subsidiary0.000.000.00-350,000.006.AS COMPANY S.A. has been audited by the tax authorities up to and including the fiscal year 2004 while subsidiary company COSMOKID S.A.was established in 2008 and has not been audited for it's first fiscal year (please see note 5.5 in financial statement notes).
Purchase of tangible and intangible assets10,591,074.0610,324,707.0210,621,719.56-86,759.04
Proceeds from sales of tangible and intangible assets27,041.2521,989.510.002,878.107.There do not exist any types of arbitration or pending litigation matters that could have a material adverse effect on AS Company S.A. & COSMOKID S.A. financial condition and therefore there do not exist any corresponding provisions. (please see note 5.6 in financial statement notes). Provisions for the unaudited tax years of AS Company have been made which amount to € 190.000,00 while other provisions for slow moving stock amounting to € 866.163,94 και and bad debt provisions amounting to € 631.234,24 have also been incorporated.
Proceeds from sales of securities0.
Interest income3,281.6012,995.98723.3712,387.43
Dividends income0.
Total cash flows from ivnesting activities (b)-116,021.33-377,725.73-114,975.31-421,493.51
Financing activities8.The number of staff employed by the subsidiary and mother company as at the end of fical year is 72 and 59 employees accordingly and was 60 and 56 employees, accordingly at the end of the respective period.
Proceeds from increased capital0.00150,
Proceeds from borrowings2,000,000.000.002,000,000.000.009.During the fiscal period the groups net equity was registered the amount of € 28.081,30 which concerns consolidation differencesdue to investing activities of the subsidiary COSMOKID ALBANIA LTD.
Inflow from Government Programs33,126.000.0033,126.000.00
Borrowings paid10,058,839.2510,366,049.93-669,430.4510,366,049.9310.In the Groups consolidated financial statements are included COSMOKID S.A. figures, headquarters in Thessaloniki, participation percentage 100%, date consolidation was initiated 04.04.2008. On 12.06.2008 the subsidiary Cosmokid S.A. incorporated its subsidiary COSMOKID ALBANIA LTD location Tirana, Albania,with 100% stake, of which financial results were not consolidated, in the during semester, in groups financial statements, for the reasons mentioned above (please see note 5.9 in financial statement notes).
Payments of leasing liabilities10,706,884.35-33,975.3810,706,884.35-33,975.38
Dividends paid-1,750,136.00-1,750,136.00-1,750,136.00-1,750,136.00
Total cash flows from Financing activities (c)-426,122.88-2,005,479.69-416,974.34-2,155,479.69
Net increase / (Decrease) in cash
and cash equivalents (a) + (b) + (c)1,260,481.57797,882.841,597,322.53634,429.0511.The amounts of sales and purchases from the beginning of the fiscal period and the balance of receivables and liabilities of the Group and 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:
Cash and cash equivalents opening balance992,971.811,155,926.46293,737.101,155,926.46
Cash and cash equivalents closing balance2,253,453.381,953,809.301,891,059.631,790,355.51
Thessaloniki, August 24th 2009
a) Sales of goods and services0.0053,023.08
b) Purchase of goods and services0.0016,996.72
c) Trade debtors0.0057,678.33
d) Liabilities0.0044,254.99
e) Transactions & salaries of managerial staff and the board302,618.17250,963.66
f) Receivables fron managerial staff and the board0.000.00
g) Liabilities towards managerial staff and te board5,533.505,533.50