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 March 31st 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: May 26th 2009
Amounts expressed in €Amounts expressed in €
ASSETS31.03.200931.12.200831.03.200931.12.20081.1 to1.1 to1.1 to1.1 to
Tangible fixed assets8,299,672.978,424,386.947,903,735.967,976,435.37
Intangible fixed assets26,227.1427,841.240.000.00Sales Turnover7,946,891.937,185,203.067,513,730.577,185,203.06
Other non-current assets433,509.39438,670.84671,249.05716,048.05Gross profit / (loss)4,444,199.994,075,023.974,309,179.014,075,023.97
Inventories8,011,534.726,989,276.017,629,925.646,691,907.29Profit/(loss) before tax, interest,
Trade debtors18,848,590.2915,075,360.5418,344,429.5314,780,919.60investing results1,994,529.732,105,183.852,094,172.892,105,183.85
Other current assets1,134,773.321,937,741.07852,537.331,198,916.28Profit/(loss) before tax1,907,738.302,007,015.682,013,140.932,007,015.68
TOTAL ASSETS36,754,307.8332,893,276.6435,401,877.5131,364,226.59Profit/(loss) after tax (Α)1,429,119.921,580,979.091,509,451.011,580,979.09
- Owners of the parent1,429,119.921,580,979.091,509,451.011,580,979.09
Paid up share capital8,313,146.008,313,146.008,313,146.008,313,146.00Other Profit/(loss) after tax (Β)
Other shareholders' equity11,072,779.659,615,578.4311,293,476.569,784,025.57Total Profit
Total Shareholder's Equity (a)19,385,925.6517,928,724.4319,606,622.5618,097,171.57after tax (Α) + (Β)1,429,119.921,580,979.091,509,451.011,580,979.09
- Owners of the parent1,429,119.921,580,979.091,509,451.011,580,979.09
Minority Rights (b) -Minority Shareholders'
Total Equity (c) = (a) + (b)19,385,925.6517,928,724.4319,606,622.5618,097,171.57
Profit after tax per share in (€)0.06530.07230.06900.0723
Long term liabilities4,332,000.004,332,000.003,332,000.003,332,000.00Profit/(loss) before tax, interest,
Provisions / Other long term liabilities1,338,119.01793,105.341,313,950.84785,933.90investing results and depreciation2,108,476.662,233,715.252,197,726.132,233,715.25
Short term borrowing liabilities4,042,989.872,135,624.164,042,989.872,126,475.62
Other short term liabilities7,655,273.307,703,822.717,106,314.247,022,645.50
Total liabilities (d)17,368,382.1814,964,552.2115,795,254.9513,267,055.021.3 STATEMENT OF CHANGES IN EQUITY
Amounts expressed in €
TOTAL SHAREHOLDERS EQUITY & LIABILITIES (c) + (d)36,754,307.8332,893,276.6435,401,877.5131,364,226.59GROUPCOMPANY
Opening balance
(01.01.2009 & 01.01.2008 accordingly)17,928,724.4316,424,427.7918,097,171.5516,424,427.79
1.4 CASH FLOW STATEMENTYear's Profit / (loss)
Amounts expressed in €after taxes1,429,119.921,580,979.091,509,451.011,580,979.09
1.1 to1.1 to1.1 to1.1 toNet income towards equity28,081.300.000.000.00
31.03.200931.03.200831.03.200931.03.2008Year's end equity
Operating activities(31.03.2009 & 31.03.2008 accordingly)19,385,925.6518,005,406.8819,606,622.5618,005,406.88
Profit before tax 1,907,738.302,007,015.682,013,140.932,007,015.68
Increase / Decrease adjustments for:
Foreign Exchange Differences-3,265.890.00-3,265.890.001.The basic accounting principles applied are consistent with those applied for the balance sheet as at 31/12/2008.
Investing Activities Results (income, expences, profit & loss) 53,464.84-873.045,320.39-873.04
Interest Expense86,391.4899,041.2178,776.4699,041.212.During the reported period the subsidiary company COSMOKID ALBANIA LTD, headquarters in Tirana, of wich subsidiary company COSMOKID S.A. has 100% stake, sold off its inventories and now operates through a customer in Albania (please see note 5.2 in the financial statement notes). There were no other buyouts, consolidations, sell-off, secession, or reorganization of any of the company's parts.
Increase / Decrease adjustments for working capital:
Decrease/(increase) in inventories-1,067,633.9922,378.60-938,018.3522,378.60
Decrease/(increase) in receivables7,436,716.07-2,304,717.247,638,427.78-2,304,717.24
(Decrease)/increase in current liabilities (excluding borrowings)118,079.83919,421.47100,552.17919,421.473.There were no changes in the company's reporting period, therefore all information presented is comparable.
Minus :
Interest Paid10,651,026.7610,638,377.03-78,776.4610,638,377.034.The Financial Statements are not included in other consolidated financial statements published by other companies. During the reported period the company COSMOKID ALBANIA LTD is not included in Groups consolidated financial statements .
Income taxes paid0.
Total cash flows from operating activities (a)-2,161,375.41771,756.87-1,817,707.97771,756.875.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 its first fiscal year (please see note 5.4 in financial statement notes).
Investing Activities6.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. 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 € 936.163,94 and bad debt provisions amounting to € 631.234,24 have also been incorporated.
Purchase of tangible and intangible assets10,677,895.1110,657,262.1910,706,564.4110,657,262.19
Proceeds from sales of tangible and intangible assets23,320.862,878.100.002,878.10
Proceeds from sales of securities0.
Interest income1,855.618,003.680.068,003.687.The number of staff employed by the Group and the Company as at the end of the reported period is 74 & 60 and 58 & 58 accordingly at the end of the respective period.
Dividends income0.
Total cash flows from ivnesting activities (b)-34,346.66-69,274.27-30,853.77-69,274.278.During the reported period the amount of € 28.081,30 was reported in Groups equity which correspond to consolidation differences.
Financing activities
Proceeds from increased capital0. the Groups consolidated financial statements the subsidiary company COSMOKID S.A. is included, with headquarters in Thessaloniki 100% stake, consolidation start date 04.04.2008. In 12.06.2008 subsidiary company COSMOKID S.A. started operations of subsidiary company COSMOKID ALBANIA LTD, with headquarters in Tirana & 100% stake whoes figures were not cosolidated in Groups financial statements during the reported period because the foreign subsidiary sold off its inventories & runs through a customer (please see note 5.8 in the financial statement notes).
Proceeds from borrowings1,907,365.711,164,000.211,916,514.251,164,000.21
Inflow from Government Programs69,327.000.0069,327.000.00
Borrowings paid0.
Payments of leasing liabilities10,720,534.81-17,916.6910,720,534.81-17,916.69
Dividends paid0. 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:
Total cash flows from Financing activities (c)1,959,809.281,146,083.521,968,957.821,146,083.52
Net increase / (Decrease) in cash
and cash equivalents (a) + (b) + (c)-235,912.791,848,566.12120,396.081,848,566.12GROUPCOMPANY
Cash and cash equivalents opening balance931,599.601,155,926.46293,737.101,155,926.46 a) Sales of goods and services0.0027,130.40
Cash and cash equivalents closing balance695,686.813,004,492.58414,133.183,004,492.58 b) Purchase of goods and services0.007,662.00
c) Trade debtors0.0044,091.66
d) Liabilities0.0016,203.73
e) Transactions & salaries of managerial staff and the board149,471.36126,773.42
f) Receivables fron managerial staff and the board0.000.00
g) Liabilities towards managerial staff and te board11,067.0011,067.00
Thessaloniki, May 26th 2009