Thrace Plastics Holding and Commercial S.A.

Quarterly Report • Dec 1, 2017

THRACE PLASTICS Co. S.A.

INTERIM FINANCIAL INFORMATION

1st January to 30th September 2017 IN ACCORDANCE WITH THE INTERNATIONAL FINANCIAL REPORTING STANDARDS

Company Reg. No. 11188/06/Β/86/31 General Commerce Reg. No. 12512246000 Domicile: Magiko, Municipality of Avdira, Xanthi Greece Offices: 20 Marinou Antypa Str., 17455 Alimos, Attica, Greece

CONTENTS

Interim Condensed Financial Information

For the period from 1st January to 30th September 2017

Statement of Comprehensive Income 01.01.2017 – 30.09.2017	3
Statement of Comprehensive Income 01.07.2017 – 30.09.2017	4
Statement of Financial Position 30.09.2017	5
Statement of Changes in Equity 01.01.2017 – 30.09.2017	6 – 7
Statement of Cash Flows 01.01.2017 – 30.09.2017	8
Notes on the Financial Statements	9 - 33
Data and Information	34

STATEMENT OF COMPREHENSIVE INCOME (01.01.2017 – 30.09.2017)

			Group	Company
		Note 1/1 - 30/09/2017	1/1 - 30/09/2016	1/1 - 30/09/2017	1/1 - 30/09/2016
Turnover		243,220	225,491	11,236	10,889
Cost of Sales		(190,919)	(172,273)	(9,317)	(9,079)
Gross Profit/(loss)		52,301	53,218	1,919	1,810
Other Operating Income	3	1,398	1,037	3,862	3,610
Selling Expenses		(22,795)	(20,186)	(475)	(402)
Administrative Expenses		(13,536)	(12,594)	(4,375)	(3,992)
Other Operating Expenses	4	(1,236)	(1,820)	(252)	(446)
Other profit / (losses)	5	(1,182)	(165)	(21)	(46)
Operating Profit /(loss) before interest and tax		14,950	19,490	658	534
Financial Income	6	591	2,061	1	2
Financial Expenses	6	(4,780)	(5,876)	(972)	(1,318)
Income from dividends		-	-	564	-
Profit / (losses) from companies consolidated with the Equity Method	19	1,111	1,374	-	-
Profit / (losses) from participations		(180)	-
Profit/(loss) before Tax		11,692	17,049	251	(782)
Income Tax	8	(2,961)	(3,314)	230	59
Profit/(loss) after tax (A)		8,731	13,735	481	(723)
Other comprehensive income
Items transferred to the results
FX differences from translation of foreign Balance Sheets		(2,562)	(6,193)	-	-
Items not transferred to the results
Actuarial profit/(loss)		5,492	(15,316)		-
Other comprehensive income after taxes (B)		2,930	(21,509)	-	-
Total comprehensive income after taxes (A) + (B)		11,661	(7,774)	481	(723)
Profit / (loss) after tax (A)
Attributed to:
Owners of the parent		8,474	13,445	-	-
Minority interest Total comprehensive income after taxes (A) + (B)		257	290	-	-
Attributed to:
Owners of the parent Minority interest		11,407 254	(8,068) 294	- -	- -
Profit/(loss) allocated to shareholders from continued activities per
share (A)
Number of shares		43,741	44,036	-	-
Earnings/(loss) per share	7	0.1937	0.3053	-	-

STATEMENT OF COMPREHENSIVE INCOME (01.07.2017 – 30.09.2017)

		Company Group
	Note 1/7 - 30/09/2017	1/7 - 30/09/2016	1/7 - 30/09/2017	1/7 - 30/09/2016
Turnover	82,119	74,853	3,211	3,307
Cost of Sales	(64,279)	(56,985)	(2,736)	(2,780)
Gross Profit/(loss)	17,840	17,868	475	527
Other Operating Income	289	379	1,225	1,171
Selling Expenses	(7,350)	(6,677)	(143)	(131)
Administrative Expenses	(3,893)	(4,219)	(1,223)	(1,293)
Other Operating Expenses	(321)	(684)	(110)	(98)
Other profit / (losses)	(343)	177	-	(6)
Operating Profit /(loss) before interest and tax	6,222	6,844	224	170
Financial Income	184	579	1	1
Financial Expenses	(1,599)	(1,583)	(300)	(379)
Income from dividends	-	-	564	-
Profit / (losses) from companies consolidated with the Equity Method	372	636	-	-
Profit / (losses) from participations	-	-	-	-
Profit/(loss) before Tax	5,179	6,476	489	(208)
Income Tax	(1,176)	(1,002)	35	30
Profit/(loss) after tax (A)	4,003	5,474	524	(178)
Other comprehensive income

Items transferred to the results

Items transferred to the results
FX differences from translation of foreign Balance Sheets	(462)	(1,157)	-	-
Items not transferred to the results
Actuarial profit/(loss)	4,541	(6,929)	-	-
Other comprehensive income after taxes (B)	4,079	(8,086)	-	-

Total comprehensive income after taxes (A) + (B)	8,082	(2,612)	524	(178)
Profit / (loss) after tax (A)
Attributed to:
Owners of the parent	3,894	5,344	-	-
Minority interest	109	130	-	-
Total comprehensive income after taxes (A) + (B)
Attributed to:
Owners of the parent	7,976	(2,744)	-	-
Minority interest	106	132	-	-
Profit/(loss) allocated to shareholders from continued activities per share (A)
Number of shares	43,741	44,036	-	-
Earnings/(loss) per share	0.0890	0.1214	-	-

STATEMENT OF FINANCIAL POSITION

		Group		Company
	Note	30-09-17	31-12-16	30-09-17	31-12-16
ASSETS
Non-Current Assets
Tangible fixed assets	9	110,004	107,437	6,594	6,151
Investment property	9	113	113	14	14
Intangible Assets	9	11,419	11,605	658	685
Participation in subsidiaries	1 9	-	-	69,261	69,684
Participation in related companies	1 9	13,546	11,347	3,004	1,566
Other long term receivables	1 0	7,446	7,387	1,967	1,967
Deferred tax assets		1,688	2,633	241	12
Total non-Current Assets		144,216	140,522	81,739	80,079
Current Assets
Inventories		57,344	57,695	2,122	1,785
Income tax prepaid		1,276	1,526	953	1,036
Trade receivables		65,965	50,640	3,364	3,081
Other debtors		7,031	8,028	11,659	10,870
Cash and Cash Equivalents		31,779	31,080	277	1,853
Total Current Assets		163,395	148,969	18,375	18,625
TOTAL ASSETS		307,611	289,491	100,114	98,704
EQUITY AND LIABILITIES
EQUITY
Share Capital		28,869	29,762	28,869	29,762
Share premium		21,541	21,526	21,644	21,644
Other reserves		20,907	22,539	14,149	13,256
Retained earnings		60,777	46,845	6,650	6,155
Total Shareholders' equity		132,094	120,672	71,312	70,817
Minority Interest		2,370	2,116	-	-
Total Equity		134,464	122,788	71,312	70,817
Long Term Liabilities
Long Term loans	1 3	17,506	18,663	-	-
Provisions for Employee Benefits	1 4	17,845	24,369	360	352
Other provisions		628	761	698	685
Deferred Tax Liabilities		4,174	4,524	-	-
Other Long Term Liabilities		689	339	563	116
Total Long Term Liabilities		40,842	48,656	1,621	1,153
Short Term Liabilities
Short Term loans	1 3	70,457	67,139	21,916	21,977
Income Tax		4,542	3,779	-	-
Suppliers		38,666	31,799	3,143	2,202
Other short-term liabilities		18,640	15,330	2,122	2,555
Total Short Term Liabilities		132,305	118,047	27,181	26,734
TOTAL LIABILITIES		173,147	166,703	28,802	27,887
TOTAL EQUITY & LIABILITIES		307,611	289,491	100,114	98,704

STATEMENT OF CHANGES IN EQUITY

Group

	Share Capital	Share Premium	Other Reserves	Treasury shares reserve	Reserve of FX differences from translation of subsidiaries	Retained earnings	Total before minority interest	Minority interest	Total
Balance as at 01/01/2016	29,762	21,529	26,464	(1,003)	3,596	47,046	127,394	1,844	129,238
Profit / (loss) for the period	-	-	-	-	-	13,445	13,445	290	13,735
Other comprehensive income	-	-	-	-	(6,197)	(15,316)	(21,513)	4	(21,509)
Distribution of earnings	-	-	-	-	-	-	-	-	-
Dividends	-	-	-	-	-	-	-	-	-
Changes in percentages	-	-	-	-	-	-	-	-	-
Other changes	-	(2)	85	-	-	(75)	8	-	8
Purchase of treasury shares	-	-	-	(404)	-	-	(404)	-	(404)
Changes during the period	-	(2)	85	(404)	(6,197)	(1,946)	(8,464)	294	(8,170)
Balance as at 30/09/2016	29,762	21,527	26,549	(1,407)	(2,601)	45,100	118,930	2,138	121,068
Υπόλοιπα την 01/01/2017	29,762	21,526	26,547	(1,760)	(2,248)	46,845	120,672	2,116	122,788
Profit / (loss) for the period	-	-	-	-	-	8,474	8,474	257	8,731
Other comprehensive income	-	-	-	-	(2,559)	5,492	2,933	(3)	2,930
Distribution of earnings	-	-	33	-	-	(33)	-	-	-
Dividends	-	-	-	-	-	-	-	-	-
Changes in percentages	-	-	-	-	-	-	-	-	-
Other changes	-	15	-	-	-	-	15	-	15
Purchase of treasury shares	(893)	-	(867)	1,760	-	-	-	-	-
Changes during the period	(893)	15	(834)	1,760	(2,559)	13,933	11,422	254	11,676
Balance as at 30/09/2017	28,869	21,541	25,713	-	(4,807)	60,778	132,094	2,370	134,464

STATEMENT OF CHANGES IN EQUITY (continues from previous page)

Company

	Share Capital	Share Premium	Other Reserves	Treasury shares reserve	Reserve of FX differences from translation of subsidiaries	Retained earnings	Total
Balance as at 01/01/2016	29,762	21,644	15,000	(1,003)	16	5,987	71,406
Profit / (loss) for the period	-	-	-	-	-	(723)	(723)
Other comprehensive income	-	-	-	-	-	-	-
Distribution of earnings	-	-	-	-	-	-	-
Dividends	-	-	-	-	-	-	-
Changes in percentages	-	-	-	-	-	-	-
Purchase of treasury shares	-	-	-	(404)	-	-	(404)
Changes during the period	-	-	-	(404)	-	(723)	(1,127)
Balance as at 30/09/2016	29,762	21,644	15,000	(1,407)	16	5,264	70,279
Balance as at 01/01/2017	29,762	21,644	15,000	(1,760)	16	6,155	70,817
Profit / (loss) for the period	-	-	-	-	-	481	481
Other comprehensive income	-	-	-	-	-	14	14
Distribution of earnings	-	-	-	-	-	-	-
Dividends	-	-	-	-	-	-	-
Changes in percentages	-	-	-	-	-	-	-
Other changes	-	-	-	-	-	-	-
Purchase of treasury shares	(893)	-	(867)	1,760	-	-	-
Changes during the period	(893)	-	(867)	1,760	-	495	495
Balance as at 30/09/2017	28,869	21,644	14,133	-	16	6,650	71,312

STATEMENT OF CASH FLOWS

	Note		Group	Company
		1/1 - 30/09/2017	1/1 - 30/09/2016	1/1 - 30/09/2017	1/1 - 30/09/2016
Cash flows from Operating Activities
Profit before Taxes and Minority Interest		11,692	17,049	251	(782)
Plus / (minus) adjustments for:
Depreciation		9,744	9,003	574	692
Provisions		2,390	1,801	574	752
FX differences		1,289	160	18	46
(Profit)/loss from sale of fixed assets		(107)	60	2	-
(Income)/expenses from investments		-	-	(564)	-
(Profit)/losses from investments		180	-	-	-
Financial Income / (Expenses) (Profit) / losses from companies consolidated with the Equity		4,189	3,811	971	1,317
method		(1,111)	(1,374)	-	-
Operating Profit before adjustments in working capital		28,266	30,510	1,826	2,025
(Increase)/decrease in receivables		(13,739)	(9,206)	(1,072)	(1,069)
(Increase)/decrease in inventories		(820)	(4,382)	(337)	(698)
Increase/(decrease) in liabilities (apart from banks-taxes)		6,180	3,460	(328)	(948)
Other non cash movements		(105)	2,295	-	(16)
Cash generated from Operating activities		19,782	22,677	89	(706)
Interest Paid		(3,227)	(3,591)	(961)	(949)
Other financial income/(expenses)		(619)	(302)	(2)	(3)
Taxes		(2,537)	(3,514)	-	-
Cash flows from operating activities (a)		13,399	15,270	(874)	(1,658)
Investing Activities
Receipts from sales of tangible and intangible assets		125	129	35	10
Interest received		13	25	-	1
Dividends received		335	197	564	-
Increase of interests in subsidiaries / associates		(209)	(180)	(209)	(480)
Change in consolidation method of related company		(902)	-	-	-
Purchase of tangible and intangible assets		(14,768)	(12,066)	(1,028)	(199)
Cash flow from investing activities (b)		(15,406)	(11,895)	(638)	(668)
Financing activities
Increase of participation in subsidiaries / associates		-	-	-	-
Receipts from subsidies - grants		-	-	-	-
Proceeds from loans		9,923	6,099	-	-
Purchase of treasury shares		-	(404)	-	(404)
Repayment of Loans		(3,385)	(3,216)	(60)	(3)
Financial leases		(3,140)	2,417	-	-
Dividends paid		(4)	-	(4)	-
Cash flow from financing activities (c)		3,394	4,896	(64)	(407)
Net increase /(decrease) in Cash and Cash Equivalents		1,387	8,271	(1,576)	(2,733)
Cash and Cash Equivalents at beginning of period		31,080	26,411	1,853	3,008
Effect from changes in foreign exchange rates on cash
reserves		(688)	(2,529)	-	-
Cash and Cash Equivalents at end of period		31,779	32,153	277	275

1. General Information

The company THRACE PLASTICS Co. S.A. (hereinafter the "Company") was founded in 1977 and is based in Magiko of municipality of Avdira in Xanthi, Northern Greece, and is registered in the Public Companies (S.A.) Register under Reg. No. 11188/06/Β/86/31 and in the General Commercial Register under Reg. No. 12512246000.

The main activity of the Company is the production and distribution of Polypropylene (PP) products.

In a short period of time the Company evolved into a Group of companies (hereinafter "the Group"), by acquiring or establishing new entities, which activate mainly in two sectors: technical fabrics and packaging.

The Company's shares are listed on the Athens Stock Exchange since June 26, 1995.

The company's shareholders, with equity stakes above 5%, as of 30.09.2017 were the following:

Chalioris Konstantinos	43.29%
Chaliori Efimia	20.85%

The Group maintains production and trade facilities in Greece, Scotland, Northern Ireland, Ireland, Sweden, Norway, Serbia, Bulgaria, Romania and U.S.A.. On 30th September 2017, the Group employed in total 1,818 employees, from which 938 were employees in Greece.

The structure of the Group as of 30 September 2017 was as follows:

Company	Registered Offices	Participation Percentage of Parent Company	Participation Percentage of Group	Consolidation Method
Thrace Plastics Co. S.A.	GREECE-Xanthi	Parent		Full
Don & Low LTD	SCOTLAND-Forfar	100.00%	100.00%	Full
Don & Low Australia Pty LTD	AUSTRALIA	-	100.00%	Full
Thrace Nonwoven & Geosynthetics S.A.	GREECE-Xanthi	100.00%	100.00%	Full
Saepe Ltd	CYPRUS-Nicosia	-	100.00%	Full
Thrace Asia	HONG KONG	-	100.00%	Full
Thrace China	China – Shanghai	-	100.00%	Full
Thrace Protect Μ.Ι.Κ.Ε.	GREECE-Xanthi	-	100.00%	Full
Thrace Plastics Pack S.A.	GREECE-Ioannina	92.94%	92.94%	Full
Thrace Greiner Packaging SRL	ROMANIA - Sibiou	-	46.47%	Equity
Thrace Plastics Packaging D.O.O.	SERBIA-Nova Pazova	-	92.94%	Full
Trierina Trading LTD	CYPRUS-Nicosia	-	92.94%	Full
Thrace Ipoma A.D.	BULGARIA-Sofia	-	92.835%	Full
Synthetic Holdings LTD	N. IRELAND-Belfast	100.00%	100.00%	Full

Thrace Eurobent S.A.	GREECE - Xanthi	51.00%	51.00%	Equity
Thrace Greenhouses S.A.	GREECE - Xanthi	50.91%	50.91%	Equity
Thrace Polyfilms S.A.(former Thrace Sarantis S.A.)	GREECE - Xanthi	100.00%	100.00%	Full
Thrace Linq INC.	U.S.A. - South Carolina	-	100.00%	Full
Pareen LTD	CYPRUS-Nicosia	-	100.00%	Full
Adfirmate LTD	CYPRUS-Nicosia	-	100.00%	Full
Lumite INC.	U.S.A. - Georgia	-	50.00%	Equity
Thrace Polybulk A.S.	NORWAY-Brevik	-	100.00%	Full
Thrace Polybulk A.B.	SWEDEN -Köping	-	100.00%	Full
Synthetic Textiles LTD	N. IRELAND-Belfast	-	100.00%	Full
ArnoLTD	IRELAND -Dublin	-	100.00%	Full
Thrace Synthetic Packaging LTD	IRELAND -Clara	-	100.00%	Full

2. Basis for the preparation of the Financial Statements

2.1 Basis of Presentation

The present Interim Condensed Financial Information has been prepared in accordance with International Accounting Standard 34 (I.A.S.) "Interim Financial Reporting" and Law 3556/2007 of the Hellenic Capital Market Commission.

The accounting principles used for the preparation of the present Interim Condensed Financial Information is in line with those used during the preparation and those included in detail in the Annual Financial Statements of the period ended on 31 December 2016.

When deemed necessary, the comparative data have been reclassified in order to conform to possible changes in the presentation of the data of the present year.

Differences that possibly appear between accounts in the financial statements and the respective accounts in the notes are due to rounding.

The financial statements of the Group THRACE PLASTICS Co. S.A. are posted on the internet, on the website www.thracegroup.gr.

2.2 New standards, amendments of standards and interpretations

Certain new standards, amendments to standards and interpretations have been issued that are mandatory for periods beginning on 1/1/2017 or after. The Group's assessment regarding the effect of these new standards, amendments to standards and interpretations is presented below.

Standards and Interpretations mandatory for the present financial year

There are not any new standards, amendments of standards and interpretations that are mandatory for the accounting periods beginning from 1/1/2017.

Standards and Interpretations effective for subsequent financial years

IFRS 9 "Financial Instruments" and subsequent amendments in IFRS 9 and IFRS 7 (applied for annual periods beginning on or after 1 st January 2018)

IFRS 9 replaces the requirement of IAS 39 and deals with the classification and measurement of financial assets and financial liabilities, and it also includes a model of anticipated credit losses that replaces the model of the realized credit losses currently in effect. The IFRS 9 Hedging Accounting establishes an approach for hedging accounting based on principles and deals with inconsistencies and weaknesses of the current model of IAS 39. The Group is currently assessing the impact of IFRS 9 on its financial statements.

IFRS 9 (Amendments) "Prepayment features with negative compensation" (applied for annual periods beginning on or after 1 st January 2019)

The amendments provide the entities with the ability, when they fulfill a certain condition, to measure the financial assets characterized by prepayment features with negative compensation at the net cost or at the fair value through the other comprehensive income instead the fair value through the results. The Group cannot adopt the amendments on early basis as these have not been adopted by the European Union.

IFRS 15 «Revenues from Contracts with Customers»(effective for annual accounting periods beginning on or after 1 January 2018)

IFRS 15 was issued in May 2014. The objective of the standard is to provide a single and clear model for the recognition of revenues from all customer contracts so that it improves the comparability among companies of the same sector, different sectors and different capital markets. It includes the principles that an entity shall apply in order to define the measurement of revenues and the time of their recognition. The basic principle is that an entity will recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Group is in the phase of assessing the effect of the IFRS 15 on its financial statements.

IFRS 16 «Leases»(effective for annual accounting periods beginning on or after 1 January 2019)

IFRS 16 was issued in January 2016 and replaces IAS 17. The aim of the standard is to ensure that lessors and lessees provided useful information which fairly depicts the substance of transactions with regard to leases. IFRS 16 introduces a unified model providing for the accounting treatment from the side of the lessee, which requires that the lessee recognizes assets and liabilities for all leasing contracts with term longer than 12 months, unless the underlying asset is of no substance value. With regard to the accounting treatment from the side of the lessor, IFRS 16 incorporates practically the requirements of IAS 17. Therefore, the lessor continues to classify the leasing contracts as operating and financial leases, and to follow different accounting treatment for each type of contract. The Group is in the phase of assessing the effect of the IFRS 16 on its financial statements. The standard has not been adopted by the European Union.

IFRS 17 "Insurance Contracts" (effective for annual accounting periods beginning on or after 1st January 2021)

The IFRS 17 was issued in May 2017 and replaces IFRS 4. IFRS 17 establishes the principles for the recognition, measurement and reporting of insurance contracts which are in the scope of the standard as well as the relevant disclosures. The purpose of the standard is to ensure that an economic entity provides the relevant information which presents the fair picture with regard to these contracts. The new standard resolves the issues of comparability previously created by the IFRS 4 as it requires that all insurance contracts are accounted for in a consistent manner. The insurance liabilities will be measured according to current values and not based on historic cost. The standard has not been yet adopted by the European Union.

IAS 12 (Amendments) "Recognition of deferred tax assets for unrealized losses" (effective for annual accounting periods beginning on or after 1st January 2017)

The amendments clarify the accounting treatment with regard to the recognition of deferred tax assets for unrealized losses which have resulted from loans measured at fair value. The amendments have not been adopted yet by the European Union.

IAS 7 (Amendments) "Disclosures"(applied for accounting periods beginning on or after 1st January 2017)

The amendments introduce mandatory disclosures which provide the ability to users of the financial statements to evaluate the changes of liabilities that derive from financing activities. The amendments have not been adopted yet by the European Union.

IFRS 2 (Amendments) "Classification and measurement of transactions concerning share-based payments" (applied for accounting periods beginning on or after 1st January 2018)

The amendment provides clarifications about the basis of measurement with regard to the sharebased payments arranged in cash and the accounting treatment regarding amendments of terms which alter a share-based payment from one that it is arranged in cash to one that is arranged in shares. Moreover, they introduce an exception concerning the principles of IFRS 2 according to which a share-based payment should be treated like a payment totally arranged in shares, in the cases where the employer is obliged to withhold an amount for tax purposes in order to cover the tax liabilities of the employees, liabilities deriving from the value of the shares. The amendments have not been adopted yet by the European Union.

IFRS 4 (Amendments) "Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts" (effective for annual accounting periods beginning on or after 1st January 2018)

The amendments introduce two approaches. The amended standard will (a) provide the option to all entities issuing insurance contracts to recognize in the other comprehensive income and not in the statement of results any deviations arising due to the application of the IFRS 9 prior to the release of the new standard for insurance contracts, and (b) provide the option to entities, with business activities mainly related to the insurance sector, of a temporary exemption from the application of the IFRS 9 until 2021. The entities which will postpone the application of IFRS 9 will continue to apply the existing standard IFRS 39 with regard to financial instruments. The amendments have not been adopted by the European Union.

IAS 40 (Amendments) "Transfers of investment property" (effective for annual accounting periods beginning on or after 1st January 2018)

The amendments clarify that in order for a property to be classified or not as investment property, a change in the use of the asset must have occurred. A change in the use of asset can be taken into account only in the case it can be assessed that such change has actually occurred and is documented. The amendments have not been adopted by the European Union.

IAS 28 (Amendments) "Long-term interests in associates and joint ventures" (effective for annual accounting periods beginning on or after 1st January 2019)

The amendments clarify that the economic entities must account for their long-term interests in an associate company or joint venture – in which the equity method is applied – according to IFRS 9. The amendments have not been adopted by the European Union.

IFRIC 22 "Foreign Currency Transactions and Advance Consideration" (effective for annual accounting periods beginning on or after 1st January 2018)

The Interpretation offers guidance regarding the determination of the transaction date when the standard IAS 21 which refers to foreign currency transactions is applied. The Interpretation is applicable when an entity either pays or receives in advance an amount for contracts denominated in foreign currency. The Interpretation has not been adopted by the European Union.

IFRIC 23 "Uncertainty over Income Tax Treatments" (effective for annual accounting periods beginning on or after 1st January 2019)

The Interpretation provides clarifications with regard to the recognition and measurement of the current and deferred income tax when there is uncertainty with regard to the tax treatment of certain elements. IFRIC 23 is applicable for all aspects of income tax accounting when there is such uncertainty, including the taxable profit / loss, the tax basis of the assets and liabilities, the tax earnings and losses, as well as the tax rates. The Interpretation has not been yet adopted by the European Union.

Annual improvements in IFRS 2014 (Cycle 2014 – 2016)

The amendments presented below describe the basic changes in two IFRS. The amendments have not been adopted by the European Union.

IFRS 12 "Disclosure of interests in other entities"

The amendment provides clarifications with regard to the obligation for disclosures related to IFRS 12 and is applicable for interests in entities classified as held for sale, apart from the obligation for the provision of condensed financial information. The amendment is applicable in the accounting periods beginning from or after January 1st, 2017.

IAS 28 "Investments in associates and joint ventures"

The amendments provide clarifications concerning the fact that when the collective investment organizations, the mutual funds and entities with similar activities apply the option to measure their interests in associates or joint ventures at fair value through the results, the particular option must be made separately for each associate or joint venture at the time of the initial recognition. The amendment is applicable in the accounting periods beginning from or after January 1st , 2018.

3. Other Operating Income

Other Operating Income	Group			Company
	30.9.2017	30.9.2016	30.9.2017	30.9.2016
Grants	154	68	3	4
Income from rents	337	313	187	453
Income from provision of services to associates Income from provision of services to third	169	165	3.484	3.145
parties	439	36	170	-
Income from maquettes	145	175	-	-
Other operating income	154	280	18	8
Total	1,398	1,037	3,862	3,610

4. Other Operating Expenses

Other Operating Expenses	Group		Company
	30.9.2017	30.9.2016	30.9.2017	30.9.2016
Provisions for doubtful customers Other taxes and duties non-incorporated in	60	296	-	-
operating cost	187	356	78	49
Depreciation / Amortization	105	97	115	217
Personnel's indemnities	171	169	11	134
Commission fees / other banking expenses	132	137	-	-
Expenses for the purchase of maquettes	366	301	-	-
Other operating expenses	215	464	48	46
Total	1,236	1,820	252	446

The accumulated provision for doubtful receivables on 30.9.2017 amounted to € 2,458 for the Company and to € 6,739 for the Group (note 11).

5. Other earnings / losses

Other earnings / (losses)	Group		Company
	30.9.2017	30.9.2016	30.9.2017	30.9.2016
Earnings / (Losses) from sale of fixed assets	107	(59)	(3)	-
Foreign Exchange Differences	(1,289)	(106)	(18)	(46)
Total	(1,182)	(165)	(21)	(46)

6. Financial income / (expenses)

6.1 Financial income

Financial Income	Group		Company
	30.9.2017	30.9.2016	30.9.2017	30.9.2016
Interest and related income	29	26	-	2
Foreign exchange differences	562	2,035	1	-
Total	591	2,061	1	2

6.2 Financial (Expenses)

Financial Expenses			Group Company
	30.9.2017	30.9.2016	30.9.2017	30.9.2016
Debit interest and similar expenses	(3,544)	(4,014)	(962)	(1,091)
Foreign exchange differences Financial cost due to revaluation of	(527)	(26)	(6)	-
receivables at current value	-	(1,136)	-	(222)
Financial result from Pension Plans	(709)	(700)	(4)	(5)
Total	(4,780)	(5,876)	(972)	(1,318)

The financial result from Pension Plans mainly concerns the subsidiary company Don & Low LTD. The foreign exchange differences of financial income and expenses mainly concern loans and deposits in foreign currency of the companies Synthetic Holdings and Thrace Non Wovens & Geosynthetics SA.

7. Earnings per share

Earnings after tax, per share, are calculated by dividing net earnings (after tax) allocated to shareholders, by the weighted average number of shares outstanding during the relevant financial year, after the deduction of any treasury shares.

Basic earnings per share	30.9.2017	30.9.2016
Earnings allocated to shareholders (A)	8,474	13,445
Number of shares outstanding (weighted)	43,741	44,036
Basic and adjusted earnings per share (Euro in
absolute terms)	0.1937	0.305

Following decision of the Extraordinary General Meeting on February 2nd, 2017, the Company's share capital was reduced by a total amount of € 893,090.88 due to the cancellation of 1,353,168 treasury shares previously held by the Company.

At the same time, the new stock repurchase plan of the Company was approved, for a term of 24 months and for a maximum number of 4,374,145 common registered shares based on a price range of € 1.50 - € 3.50 per share.

On September 30th, the Company held no treasury shares.

8. Income Tax

The analysis of tax charged in the year's Results, is as follows:

Income Tax	Group		Company
	30.9.2017	30.9.2016	30.9.2017	30.9.2016
Income tax	(3,693)	(3,672)	-	-
Deferred tax (expense)/income	732	358	230	59
Total	(2,961)	(3,314)	230	59

The income tax rate of legal entities in Greece is set at 29% for the fiscal year 2015 and the subsequent periods.

In Greece, the results reported to tax authorities are deemed temporary and are subject to audit by the tax authorities until financial year 2010, included. Therefore, for the non-audited fiscal years there is the possibility that additional tax may be imposed on such when they are audited by the tax authorities.

The company THRACE NONWOVENS & GEOSYNTHETICS SA has received from the tax authorities an audit invitation for the fiscal years 2005 – 2011, which according to the no. 1738/2017 decision of the Plenary Session of the Council of State is applicable only for the fiscal year 2011. It is noted that for the above fiscal year, the Company has been audited in the context of the issuance of the Annual Tax Certificate required by the paragraph 5 of article 82 of Law 2238/1994 and the relevant Tax Compliance Report without reservation has been issued by the audit firm PricewaterhouseCoopers S.A..

With regard to the remaining unaudited fiscal years, according to the recent legislation and the no. 1738/2017 decision of the Plenary Session of the Council of State and also given the fact that until today no relevant tax audit invitation has been presented to the Company with regard to these fiscal years, it is viewed that the right of the Greek State to proceed with such an invitation has lapsed.

The Group forms a provision when it is deemed as necessary, on per company basis, against potential additional taxes which may be imposed by the tax authorities. This provision with regard to the Greek companies of the Group settled at € 697 and is considered to be sufficient.

With regard to the Greek companies of the Group which are subject to the issuance process of a tax certificate, the tax audit for the fiscal year 2016 was conducted by the audit firm PricewaterhouseCoopers S.A. and the relevant "Tax Compliance Reports" without reservation have been issued.

The financial years that have not been audited by the tax authorities, as regards to the Greek companies, are reported below:

Company	Tax un-audited fiscal years
THRACE PLASTICS S.A.	2008 - 2010
THRACE NON WOVENS & GEOSYNTHETICS S.A.	2005 - 2010
THRACE PLASTICS PACK S.A.	2010
THRACE PLASTICS EXTRUDED POLYSTERENE S.A.	2008 - 2010
THRACE POLYFILMS S.A.	2010

Moreover, the possibility of additional taxes being imposed also holds for companies based abroad, whose tax un-audited fiscal years are analyzed as follows:

Company	Tax un-audited fiscal years
SYNTHETIC PACKAGING LTD	2006 - 2016
THRACE POLYBULK A.B	2006 - 2016
THRACE POLYBULK A.S	2014 - 2016
THRACE GREINER PACKAGING SRL.	2002 - 2016
TRIERINA TRADING LTD	2014 - 2016
THRACE IPOMA A.D.	2004 - 2016
THRACE PLASTICS PACKAGING D.O.O.	2014 - 2016
LUMITE INC.	2010 - 2016
THRACE LINQ INC.	2009 - 2016
ADFIRMATELTD	2014 - 2016
PAREEN LTD	2014 - 2016
SAEPE LTD	2014 - 2016
THRACE ASIA LTD	2012 - 2016

9. Tangible and Intangible Assets

9.1 Tangible Fixed Assets

The changes in the tangible fixed assets during the period are analyzed as follows:

Tangible Fixed Assets	Group	Company
Balance as at 01.01.2016	92,268	6,838
Additions	29,430	461
Sales	(1,556)	(328)
Depreciation	(12,022)	(820)
Depreciation of sold assets	1,332	-
FX differences	(2,015)	-
Balance as at 31.12.2016	107,437	6,151

Tangible Fixed Assets	Group	Company
Balance as at 01.01.2017	107,437	6,151
Transfer to intangible assets	(810)	-
Additions	14,142	1,018
Sales	(686)	(56)
Depreciation	(9,527)	(538)
Depreciation of sold assets	602	19
FX differences	(1,672)	-
Change in consolidation method of related company	518	-
Balance as at 30.09.2017	110,004	6,594

The Company's tangible fixed assets include fixed assets leased to the subsidiary company THRACE NON WOVENS & GEOSYNTHETICS SA, with a net book value of € 1,716 as of 30.9.2017, which represents their fair value. The particular leasing agreement was renewed in January of 2017 with a three-year term according to the market terms.

The Group's fixed assets include assets acquired via leasing agreement (machinery equipment) with acquisition cost of € 21,768 and cumulative depreciations of € 3,557 as of 30/9/2017.

There are no liens and guarantees on the Company's tangible fixed assets, while the liens on the Group's tangible assets amount to € 8,212.

9.2 Intangible Assets

The changes in the intangible fixed assets during the period is analyzed as follows:

Intangible Assets	Group	Company
Balance as at 01.01.2016	11,522	633
Additions	215	88
Sales	-	-
Amortization	(285)	(36)
FX differences	154	-
Balance as at 31.12.2016	11,605	685

Intangible Assets	Group	Company
Balance as at 01.01.2017	11,605	685
Transfer from tangible assets	810	-
Additions	120	9
Sales	-	-
Amortization	(217)	(36)
FX differences	(66)	-
Change in consolidation method of related company	(834)	-
Balance as at 30.9.2017	11,418	658

9.3 Investment Property

Investment Property	Group	Company
Balance as at 1.1.2017	113	14
Additions / (Reductions)	-	-
Depreciations	-	-
Foreign exchange differences	-	-
Balance as at 30.09.2017	113	14

10. Other Long-Term Receivables

The Group's Management, due to delays observed in the collection of grants receivable from the Greek State over the last years, reclassified part of the above claims from the current to the noncurrent assets and also proceeded with an impairment of the above claims based on present value. The receivable was formed due to a 12% grant on the payroll cost concerning the personnel employed in Xanthi and is to be collected from OAED (Greek Manpower Employment Organization).

Other Long-Term Receivables	Group		Company
	30.9.2017	31.12.2016	30.9.2017	31.12.2016
Grants receivable	6,903	6,786	1,881	1,881
Other accounts receivable	543	601	86	86
Total	7,446	7,387	1,967	1,967

11. Trade and Other Receivables

11.1 Trade Receivables

Trade Receivables (Customers)	Group		Company
	30.9.2017	31.12.2016	30.9.2017	31.12.2016
Customers	58,893	43,794	1,856	1,640
Notes – checks overdue	7,148	6,693	449	842
Doubtful customers – Checks – Notes in delay	5,241	5,343	2,366	2,375
Customers (Subsidiaries - Associates)	1,422	1,489	1,151	682
Provisions for doubtful customers	(6,739)	(6,679)	(2,458)	(2,458)
Total	65,965	50,640	3,364	3,081

The fair value of the receivables approaches the book values.

The Group's dispersion of sales is deemed satisfactory. There is no concentration of sales in a limited number of clients and as a result there is no increased risk with regard to loss of income, nor is there increased credit risk.

11.2 Other Receivables

Other receivables		Group	Company
	30.9.2017	31.12.2016	30.9.2017	31.12.2016
Debtors	926	1,470	46	44
Debtors (Subsidiaries - Associates)	324	476	11,339	10,784
Advances to suppliers	278	24	-	2
Receivable due to investment grant	2,388	3,224	-	-
Prepaid taxes	1,842	2,015	189	-
Accrued income	1,294	840	85	40
Provisions for doubtful debtors	(21)	(21)	-	-
Total	7,031	8,028	11,659	10,870

12. Suppliers and Other Short-Term Liabilities

Suppliers and Other Short-Term Liabilities are presented analytically in the following tables:

12.1 Suppliers

Suppliers	Group		Company
	30.9.2017	31.12.2016	30.9.2017	31.12.2016
Suppliers	38,619	31,762	3,143	2,200
Suppliers (Subsidiaries - associates)	47	37	-	2
Total	38,666	31,799	3,143	2,202

12.2 Other Short-Term Liabilities

Other Short-Term Liabilities		Group	Company
	30.9.2017	31.12.2016	30.9.2017	31.12.2016
Sundry creditors	4,440	2,784	840	460
Liabilities from taxes and pensions	3,427	4,467	274	860
Dividends payable	46	49	45	49
Customer prepayments	775	1,230	-	-
Personnel salaries payable	811	2,284	84	856
Accrued expenses – Other accounts payable	9,141	4,503	865	296
Liabilities towards related companies	-	13	14	34
Total short-term liabilities	18,640	15,330	2,122	2,555

The fair value of the liabilities approaches the book values.

13. Bank Debt

The Group's long term loans have been granted from Greek and foreign banks. The repayment time varies, according to the loan contract, while most loans are linked to Euribor plus a margin.

The Group's short term loans have been granted from various banks with interest rates of Euribor plus a margin of 3%-6% and Libor plus a margin of 2%. The book value of loans approaches their fair value on 30 September 2017.

Analytically, the bank debt at the end of the period was as follows:

Debt		Group	Company
	30.9.2017	31.12.2016	30.9.2017	31.12.2016
Long-term loans	5,231	4,006	-	-
Financial leases	12,275	14,657	-	-
Total long-term loans	17,506	18,663	-	-

Amounts in thousand Euro, unless stated otherwise

Debt	Group		Company
	30.9.2017	31.12.2016	30.9.2017	31.12.2016
Long-term debt payable in the next year	3,780	7,170	-	-
Short-term loans	62,903	56,265	21,916	21,977
Financial leases	3,774	3,704	-	-
Total short-term loans	70,457	67,139	21,916	21,977
Grand Total	87,963	85,802	21,916	21,977

14. Employee Benefits

The liabilities of the Company and the Group towards its employees in providing them with certain future benefits, depending on the length of service are calculated by an actuarial study. The accounting depiction is made on the basis of the accrued entitlement of each employee, as at the date of the Balance Sheet, that is anticipated to be paid, discounted to its present value by reference to the anticipated time of payment. The liability for the Company and the Group, as presented in the Balance Sheet, is analyzed as follows:

Employee Benefits		Group	Company
	30.9.2017	31.12.2016	30.9.2017	31.12.2016
Defined contribution plans	2,161	2,142	360	352
Defined benefit plans	15,684	22,226	-	-
Total provision at the end of the year	17,845	24,369	360	352

14.1Defined contribution plans

The Greek companies of the Group as well as the subsidiary Thrace Ipoma domiciled in Bulgaria participate in the following plan. With regard to the Greek companies, the following liability arises from the relevant legislation and concerns 40% of the required compensation per employee.

Defined contribution plans	Group		Company
	30.9.2017	31.12.2016	30.9.2017	31.12.2016
Amounts recognized in the balance sheet
Present value of liabilities	2,161	2,142	360	352
Net liability recognized in the balance
sheet	2,161	2,142	360	352
Changes in the Net Liability recognized in Balance Sheet Net liability / (receivable) at the beginning of period	2,142	1,929	352	336
Benefits paid from the employer - Other Total expense recognized in the account of	-	(193)	-	(154)
results	19	283	8	152
Total amount recognized in the Net Worth	-	123	-	18
Net liability at the end of year	2,161	2,142	360	352

The actuarial assumptions are presented in the following table.

Amounts in thousand Euro, unless stated otherwise

Actuarial Assumptions	Greek Companies		Thrace Ipoma AD
	30.9.2017	31.12.2016	30.9.2017	31.12.2016
Discount rate	1.50 %	1.50 %	2.50 %	2.50 %
Inflation	1.75 %	1.75 %	0.10 %	0.10 %
Average annual increase of personnel
salaries	1.75 %	1.75 %	5.00 %	5.00 %
Duration of liabilities	16.60 years	16.85 years	12 years	12 years

14.2 Defined Benefit Plans

The subsidiaries DON & LOW LTD and THRACEPOLYBULK AS have formed Defined Benefit Plans which operate as separate entities in the form of trusts. Therefore, the assets of the plans are not dependent on the assets of the companies.

The accounting entries of the plans according to the revised IAS 19 are as follows:

Defined Benefit Plans	Group 30.9.2017	Group 31.12.2016
Amounts recognized in the balance sheet
Present value of liabilities	147,050	152,621
Fair value of the plan's assets	(131,366)	(130,395)
Net liability recognized in the balance sheet	15,684	22,226
Asset allocation*
Mutual Funds - Shares	31,130	32,061
Mutual Funds - Bonds	36,509	32,350
Diversified Growth Funds	62,940	65,055
Other	787	929
Total	131,366	130,395
Changes in the Net Liability recognized in
Balance Sheet
Net liability / (receivable) at the beginning of
year	22,226	7,617
Benefits paid from the employer	(973)	(1,762)
Total expense recognized in the account of
results	1,546	1,866
Total amount recognized in the Net Worth	(6,528)	16,302
Foreign exchange differences	(587)	(1,797)
Net liability at the end of year	15,684	22,226

* The assets of the plan are measured at fair values.

The category "property / other" also include the plan's cash reserves.

The actuarial assumptions are presented in the following table.
-----------------------------------------------------------------	--

Actuarial Assumptions	Don & Low LTD		Thrace Polybulk AS
	30.9.2017	31.12.2016	30.9.2017	31.12.2016
Discount rate	2.40 %	2.70 %	2.60 %	2.60 %
Inflation	3.30 %	3.35 %	2.25 %	2.25 %
Average annual increase of personnel
salaries	3.55 %	3.60 %	2.50 %	2.50 %
Duration of liabilities	18 years	18 years	15 years	15 years

15. Segment reporting

The operating segments are based on the different group of products, the structure of the Group's management and the internal reporting system. The Group's activity is distinguished into three segments, the technical fabrics segment, the packaging segment and the Agricultural segment. The activity of the parent Company is included in the Packaging segment.

The Group's operating segments are as follows:

Technical Fabrics

Production and trade of technical fabrics for industrial and technical use.

Packaging

Production and trade of packaging products, plastic bags, plastic boxes for packaging of food and paints and other packaging materials for agricultural use.

Agricultural Unit

Production and trading of agricultural products produced in greenhouses. The company Thrace Greenhouses belongs to this segment.

BALANCE SHEET OF 30.9.2017	TECHNICAL FABRICS	PACKAGING	AGRICULTU RAL UNIT	WRITE-OFF OF TRANSACTIO NS BETWEEN SEGMENTS	GROUP
Total consolidated assets	201,877	118,091	39	(12,397)	307,611

				WRITE-OFF OF
INCOME STATEMENT FOR THE	TECHNICAL	PACKAGING	AGRICULTU	TRANSACTIO	GROUP
PERIOD FROM 1.1 –30.9.2017	FABRICS		RAL UNIT	NS BETWEEN
				SEGMENTS
Turnover	188,960	63,023	-	(8,763)	243,220
Cost of sales	(150,868)	(49,272)	-	9,221	(190,919)
Gross profit	38,092	13,751	-	458	52,301
Other operating income	678	3,600	-	(2,880)	1,398
Distribution expenses	(17,806)	(4,596)	-	(393)	(22,795)
Administrative expenses	(10,146)	(6,090)	-	2,700	(13,536)
Other operating expenses	(360)	(991)	-	115	(1,236)
Other Income / (Losses)	(1,219)	37	-	-	(1,182)
Operating profit / (loss)	9,239	5,711	-	-	14,950
Interest & related (expenses)/income	(1,964)	(2,225)	-	-	(4,189)
Profit / (loss) from companies
consolidated with the Equity method	328	557	226	-	1,111
Profit / (losses) from participations	-	(306)	126	-	(180)
Total Earnings / (losses) before tax	7,603	3,737	352	-	11,692
Depreciations	5,930	3,814	-	-	9,744
Total Earnings / (losses) before
interest, tax, depreciation &
amortization (EBITDA)	15,169	9,525	-	-	24,694

BALANCE SHEET OF 31.12.2016	TECHNICAL FABRICS	PACKAGING	AGRICULTU RAL UNIT	WRITE-OFF OF TRANSACTIO NS BETWEEN SEGMENTS	GROUP
Total consolidated assets	195,840	100,933	5,249	(12,531)	289,491

INCOME STATEMENT FOR THE PERIOD FROM 1.1 - 30.9.2016	TECHNICAL FABRICS	PACKAGING	AGRICULTU RAL UNIT	WRITE-OFF OF TRANSACTIO NS BETWEEN SEGMENTS	GROUP
Turnover	173,488	59,167	1,325	(8,489)	225,491
Cost of sales	(135,058)	(45,248)	(987)	9,020	(172,273)
Gross profit	38,430	13,919	338	531	53,218
Other operating income	409	3,361	43	(2,776)	1,037
Distribution expenses	(15,754)	(3,994)	(158)	(280)	(20,186)
Administrative expenses	(9,387)	(5,457)	(60)	2,310	(12,594)
Other operating expenses	(436)	(1,586)	(13)	215	(1,820)
Other Income / (Losses)	(56)	(109)	-	-	(165)
Operating profit / (loss)	13,206	6,134	150	-	19,490
Interest & related (expenses)/income Profit / (loss) from companies	(906)	(2,829)	(80)	-	3,815
consolidated with the Equity method	704	670	-	-	1,374
Total Earnings / (losses) before tax	13,004	3,975	70	-	17,049
Depreciations	5,055	3,772	176	-	9,003
Total Earnings / (losses) before
interest, tax, depreciation & amortization (EBITDA)	18,261	9,906	326	-	28,493

* The company Thrace Greenhouses following its merger through absorption of Elastron Agricultural (see note 21) during the first half of 2017 was consolidated according to the equity method.

16. Transactions with Related Parties

The Group classifies as related parties the members of the Board of Directors, the Directors of the Company's divisions as well as the shareholders who own over 5% of the Company's share capital (their related parties included).

The commercial transactions of the Group with these related parties during the period 1/1/2017 – 30/9/2017 have been conducted according to market terms and in the context of the ordinary business activities.

The transactions with the subsidiaries and related companies according to the IFRS 24 during the period 1/1/2017 – 30/9/2017 are presented below.

Income		1.1 – 30.9.2017		1.1 –30.9.2016
	Group	Company	Group	Company
Subsidiaries	-	7,857	-	7,868
Related Companies	4,082	142	4,464	197
Total	4,082	7,999	4,464	8,065

Amounts in thousand Euro, unless stated otherwise

Expenses		1.1 – 30.9.2017		1.1 – 30.9.2016
	Group	Company	Group	Company
Subsidiaries	-	445	-	529
Related Companies	1,539	92	1,295	130
Total	1,539	537	1,295	659

Trade and other receivables	30.9.2017		31.12.2016
	Group	Company	Group	Company
Subsidiaries	-	12,166	-	11,226
Related Companies	1,746	324	1,755	240
Total	1,746	12,490	1,755	11,466

Suppliers and Other Liabilities	30.9.2017		31.12.2016
	Group	Company	Group	Company
Subsidiaries	-	-	-	33
Related Companies	47	14	52	3
Total	47	14	52	36

The "Subsidiaries" include all companies consolidated with "Thrace Plastics Group" via the full consolidation method. The "Related companies" include those consolidated with the equity method as well as those owned by the partners of the Group.

The Company has granted guarantees to banks against credit lines for the account of its subsidiaries. On 30.09.2017, the amount of the above guarantees accounted for € 42,774.

Specifically:

	30.9.2017
Thrace Non Wovens & Geosynthetics SA	34,934
Thrace Ipoma AD	1,180
Thrace Greenhouses SA	3,449
Thrace Plastics Pack SA	3,211

17. Remuneration of Board of Directors

BoD Fees	Group		Company
	30.9.2017	30.9.2016	30.9.2017	30.9.2016
BoD Fees	3,049	2,960	1,119	989

18. Number of employees

The number of employed staff in the Group and the Company at the end of the present period was as follows:

Number of employees	Group		Company
	30.9.2017	30.9.2016	30.9.2017	30.9.2016
Regular employees	676	617	46	44
Day-wage employees	1,142	1,135	31	25
Total	1,818	1,752	77	69

The total staff of companies that are based in Greece, is primarily insured with the Social Security Organization (I.K.A.), both as regards to medical care and as regards to primary pension.

19. Participations

19.1 Participation in companies consolidated with the full consolidation method

The value of the Company's participations in the subsidiaries, as of 30 September 2017, is as follows:

Companies consolidated with the full consolidation method	30.9.2017	31.12.2016
DON & LOW LTD	33,953	33,953
THRACE PLASTICS PACK SA	15,508	15,508
THRACE NON WOVENS & GEOSYNTHETICS SA	5,710	5,710
SYNTHETIC HOLDINGS LTD (Note 24)	11,727	4,607
PAREEN LTD (Note 24)	-	7,121
THRACE GREENHOUSES SA	-	2,785
THRACE POLYFILMS S.A. (former Thrace Sarantis)	2,363	-
Total	69,261	69,684

19.2 Participation in companies consolidated with the equity method

The following table presents the companies in which the management is jointly controlled with another shareholder with the right to participate in their net assets. The companies are consolidated according to the equity method.

Company	Country of Activities	Business Activity	Equity Stake
Thrace Greiner Packaging SRL	Romania	The company activates in the production of plastic boxes for food products and paints and belongs to the packaging sector. The company's shares are not listed.	46.47%
Lumite INC	United States	The company activates in the production of agricultural fabrics and belongs to the technical fabrics sector. The company's shares are not listed.	50.00%

Amounts in thousand Euro, unless stated otherwise

Thrace Greenhouses SA	Greece	The company activates in the production of agricultural products and belongs to the agricultural sector. The company's shares are not listed.	50.91%
Thrace Eurobent SA	Greece	The company activates in the manufacturing of waterproof products via the use of Geosynthetic Clay Liner – GCL.	51.00%
		The company's shares are not listed.

The Parent company holds directly the company THRACEGREENHOUSES SA with participation interest of € 2,800 as well as the company THRACE EUROBENT SA with participation interest of € 204.

The change of the Group's interests in the companies that are consolidated with the equity method is analyzed as follows:

Interests in companies consolidated with the	1.1 –30.9.2017	1.1 - 31.12.2016
equity method
Balance at beginning	11,347	10,251
Capital increases – New participations	2,800	262
Change in consolidation method of Thrace Polyfilms	(704)	-
Earnings / (Losses) from acquisition of participations	(180)	-
Participation in profit / (losses) of joint ventures	1,111	1,273
Dividends	-	(648)
Foreign exchange differences and other reserves	(827)	209
Balance at end	13,547	11,347

20. Acquisition of an Equity Stake in THRACE SARANTIS S.Α.

The Management of the Company "THRACE PLASTICS INDUSTRIAL AND COMMERCIAL SOCIETE ANONYME" with the distinctive title "THRACE PLASTICS CO. S.A." proceeded on 6th March 2017 with the purchase from "GR. SARANTIS CYPRUS LTD" of thirteen thousand six hundred and twenty five (13,625) common registered shares of the Societe Anonyme under the name "THRACE SARANTIS INDUSTRIAL AND COMMERCIAL SOCIETE ANONYME" and the distinctive title "THRACE SARANTIS S.A.", which represent a percentage of 50% of the paid-up share capital for a total consideration of one million (1,000,000) Euros. Following the above transaction, the Company became the sole shareholder of "THRACE SARANTIS S.A." as it already participated in the share capital of the latter by 50%. The acquired company will be included in the consolidated financial statements based on the full consolidation method.

The acquisition price, the acquired assets and the goodwill which emerged, are analyzed below:

Acquisition price	1.1 - 28.02.2017
Price consideration	1,000
Common shares acquired (units)	13,625

Assets and goodwill	1.1 - 28.02.2017
Tangible fixed assets	2,586
Other long-term receivables	117
Inventories	56
Customers	23
Cash and cash equivalents	4
Long-term loans	(777)
Deferred tax liabilities	(182)
Short-term loans	(422)
Suppliers	(19)
Total assets acquired	1,386
Minus: Existing participation	693
Goodwill	307
Price consideration	1,000

The emerged goodwill was recorded in the results for the year, given that the total consideration did not exceed the fair value of the net assets which were acquired.

21. Absorption of Elastron Agricultural from Thrace Greenhouses

On 28th March 2017, a Draft Merger Agreement was signed by the Company's fully owned subsidiary Societe Anonyme under the name "THRACE GREENHOUSES SOCIETE ANONYME" which concerns the absorption by the latter of the Societe Anonyme under the name "ELASTRON AGRICURTURAL COMMERCIAL AND INDUSTRIAL SOCIETE ANONYME". According to the above mentioned Draft Merger Agreement, the Board of Directors of the two merged companies decided that the merger will be implemented according to the clauses of articles 68-77a of P.L. 2190/1920 as well as the articles 1-5 of L. 2166/1993, as they are currently in effect, whereas the date of the balance sheet transformation was set on December 31st, 2016.

With regard to the determination of the book value of the assets of the absorbed company "ELASTRON AGRICURTURAL COMMERCIAL AND INDUSTRIAL SOCIETE ANONYME", a certified auditor prepared a relevant report on March 24th, 2017, according to the clauses of Law 2166/1993 and in accordance with the already prepared transformation balance sheet of the absorbed company as of 31/12/2016. According to the above mentioned report, the value to be capitalized of the absorbed company "ELASTRON AGRICURTURAL COMMERCIAL AND INDUSTRIAL SOCIETE ANONYME" accounts for €2,700, which equivalent with its share capital on 31/12/2016. Following the merger via absorption, it was decided the exchange ratio between the shares of the absorbed company and the shares of the absorbing company as percentage of the Share Capital of the absorbing company. The Share Capital amounts now to € 5,500 divided by 550,000 shares with nominal value of € 10 per share, namely:

	Share Capital	Number of Shares	Percentage
THRACE GREENHOUSES SOCIETE ANONYME	2,800	280	50,91
ELASTRON AGRICULTURAL COMMERCIAL AND INDUSTRIAL SOCIETE ANONYME	2,700	270	49,09
Total Share Capital	5,500	550	100,00

On 26/07/2017, the Societe Anonyme Merger Agreement no. 13192 concerning the absorption of the Societe Anonyme under the name "ELASTRON AGRICULTURAL COMMERCIAL INDUSTRIAL SOCIETE ANONYME" by the Company's fully owned (100%) subsidiary "THRACE GREENHOUSES SOCIETE ANONYME" was approved and recorded in the General Electronic Commercial Registry (G.E.MI.) on 28/07/2017 under the code number 112663.

The book values of the assets and liabilities on 31/12/2016 of the company that derived from the absorption of Elastron Agricultural by Thrace Greenhouses, were the following:

Balance Sheet of the company after absorption	31.12.2016
Tangible fixed assets	6,742
Other long-term receivables	393
Inventories	158
Customers	1,561
Cash and cash equivalents	1,205
TOTAL ASSETS	10,059
Long-term loans	887
Deferred tax liabilities	41
Grants	1,300
Other long-term liabilities	121
Short-term loans	1,964
Suppliers	267
Other short-term liabilities	345
Equity	5,134
TOTAL LIABILITIES	10,059

The temporary difference deriving from the above transaction has been recorded in the results of the period. The determination of the fair values will be finalized within the 12-month period which is provided by the IFRS 10 and will specify any impact on the financial statements.

22. Commitments and Contingent Liabilities

On 30 September 2017, there are no significant legal issues pending that may have a material effect in the financial position of the Companies in the Group.

The letters of guarantee issued by the banks for the account of the Company and in favor of third parties (Greek State, suppliers and customers) amount to € 834.

The Company filed a lawsuit and presented its case in front of the administrative courts with regard to the tax audit of fiscal years 2006 and 2007. The courts resolved the above case and decided that the Company must pay amounts of € 67 concerning taxes and of € 43 concerning surcharges that derived from the tax audit of the fiscal years 2006 and 2007.

With regard to the above litigation, no relevant provision was previously formed in the financial statements of the Company. As a result, there will be a proportional charge against the after taxes results for the year. The Company has filed an appeal to the courts with regard to the above decision.

23. Reclassifications of accounts

In the present Interim Condensed Financial Information, there have been reclassifications of not significant comparative accounts in the Statement of Total Comprehensive Income for the purpose of comparability with the ones of the present period.

24 Significant Events

Below, the most significant events that took place during the 9-month period of 2017 are presented:

The Company Thrace Plastics called, on 2nd February 2017, Thursday and at 12:30 p.m., at its head offices in Magiko of Avdira Municipality, County of Xanthi, for an Extraordinary General Meeting of shareholders which decided the following:

• The reduction of the Company's share capital by the amount of eight hundred and ninety three thousand, ninety Euros and eighty eight cents (893,090.88 Euros) via the reduction of the Company's total number of shares from 45,094,620 to 43,741,452 common registered shares, due to the cancellation of the total treasury shares held by the Company amounting to 1,353,168 treasury shares, in accordance with the article 16 of P.L. 2190/1920 as it is currently in effect.

• The approval of the stock repurchase plan of the Company via the Athens Exchange in accordance with the clauses of article 16 of P.L. 2190/1920 as it is currently in effect, and specifically the repurchase within a period of twenty four (24) months from the date of the present decision, meaning until 02.02.2019 at the latest, of up to 4,374,145 common registered shares at maximum, representing 10% of the Company's outstanding share capital (as of today standing at 43,741,452 shares as result of the decision made with regard to the reduction of the share capital via the reduction of the number of shares due to cancelation of treasury shares), at a price range between one Euro and fifty cents (1.50 €) and three Euros and fifty cents (3.50 €).

• The Company "Thrace Plastics" following the granting of the necessary approvals, proceeded on 6 March 2017 with the acquisition from "GR. SARANTISCYPRUS LTD" of thirteen thousand six hundred twenty five (13,625) common registered shares of the Societe Anonyme under the name "THRACE SARANTIS INDUSTRIAL AND COMMERCIAL SOCIETEANONYME" and with the distinctive title "THRACE SARANTIS SA", which represent a percentage of 50% of the paid-up share capital of the company, for a total consideration of one million (1,000,000) Euro.

Following the above transaction, the Company became the sole shareholder of "THRACE SARANTIS S.A." as it already participated in the share capital of the latter by 50%. The acquired company will be included in the consolidated financial statements based on the full consolidation method.

Following a relevant decision of the Extraordinary Shareholders Meeting on 06/03/2017, the company was renamed in Thrace Polyfilms SA.

- The Company announced the merger via absorption of "Elastron Agricultural" by "Thrace Greenhouses" as following:

The Management of the Company under the name "THRACE PLASTICS INDUSTRIAL AND COMMERCIAL SOCIETE ANONYME" with the distinctive title "THRACE PLASTICS CO. S.A.", announced to the investors' community that the Draft Merger Agreement was approved and signed by its fully owned subsidiary Societe Anonyme under the name "THRACE GREENHOUSES SOCIETE ANONYME" with regard to the absorption by the latter of the Societe Anonyme under the name "ELASTRON AGRICURTURAL COMMERCIAL AND INDUSTRIAL SOCIETE ANONYME".

According to the above mentioned Draft Merger Agreement, the Board of Directors of the two merged companies decided that the merger will be implemented according to the clauses of articles 68-77a of P.L. 2190/1920 as well as the articles 1-5 of L. 2166/1993, as they are currently in effect, whereas the date of the balance sheet transformation was set on December 31st, 2016.

The above merger was approved by the decision under the protocol number Γ/ΕΞ/2117-1/26.07.2017 of the Regional Vice-Governor of Xanthi of the Region of Eastern Macedonia and Thrace (ΑΔΑ: Ω44Μ7ΛΒ-ΜΗΛ), and was registered in the General Electronic Commercial Registry (G.E.MI.) on 28/07/2017 under the code number 112663, according to the clauses of articles 68, paragraph 2 and 69-77 of C.L. 2190/1920 and of the articles 1-5 of Law 2166/1993, as they are currently in effect. Furthermore, with this decision of the Regional Vice-Governor of Xanthi it was approved the amendment of article 5, paragraph 1 of the Articles of Association of the Societe Anonyme under the name "THRACE GREENHOUSES SOCIETE ANONYME", according to the relevant decision of the company's Extraordinary Shareholders Meeting on 22/06/2017.

The Ordinary General Meeting of shareholders that took place on 11 May 2017 approved the annual financial statements and decided not to distribute any dividend from the earnings of 2016 since the priority of the Management of both the Company and the Group is to maintain satisfactory levels of liquidity in the context of the completion of the Group's extended investment plan.

In the context of the changes in the Group's organizational structure, the company Pareen LTD which was fully owned (100%) by the parent company, was transferred to its subsidiary company Synthetic Holdings LTD. Synthetic Holdings LTD issued 13,397 new shares which were received by the Parent company in exchange for the above transaction. Following, the Parent company increased its interest in Synthetic Holding by 7,121,000 Euros, meaning by an amount equivalent to its participation in the company Pareen LTD.

On 05/05/2017, the company Thrace Protect M.I.K.E. was established as subsidiary of the company Thrace Nonwoven & Geosynthetics SA. The newly established company will gradually be responsible for the safeguarding of the facilities of the Group's companies.

• On 04/08/2017 the merger through absorption of the company Thrace Linq INC by the company Delta Real Estate Investments LLC (it possesses a property which hosts the facilities of Thrace Linq) was completed. In a following stage the absorbing company was renamed into Thrace Linq INC.

25 Events after the balance sheet date

• On 3/10/2017 and in the context of the internal restructuring of Thrace Group's participations, the Management of the Societe Anonyme "THRACE PLASTICS INDUSTRIAL AND COMMERCIAL SOCIETE ANONYME" with the distinctive title "THRACE PLASTICS CO. S.A." informs the investors' community that on 2/10/2017 the Boards of Directors of the Company and of its subsidiary company under the name "THRACE POLYFILMS INDUSTRIAL AND COMMERCIAL SOCIETE ANONYME" (henceforth "Thrace Polyfilms") approved the terms of the agreement with regard to the spinoff of the sector of production and trade of Industrial Packaging products (henceforth "the Sector") from the Company and its contribution into the subsidiary "Thrace Polyfilms". The

spinoff and contribution of the sector will be implemented according to the clauses of Law 2166/1993, whereas the date of 30.06.2017 was set as the Transformation Balance Sheet date.

• On 2/11/2017 the Extraordinary General Meeting of shareholders convened and approved by majority the following items of the daily agenda:
• On the 1st item, the Company's shareholders decided and approved unanimously the spinoff of the business segment of production and trade of industrial packaging products of the Company and the contribution of the segment into the fully owned (100%) subsidiary Societe Anonyme under the name "THRACE POLYFILMS INDUSTRIAL AND COMMERCIAL SOCIETE ANONYME" according to the provisions of Law 2166/1993 and Law 2190/1920 as they are currently in effect, and they also validated unanimously the entire terms of the common Spin-off Plan Agreement as of 27/09/2017, the Valuation Report as of 12/09/2017 with regard to the book value of the above business segment compiled by the Certified Auditor Michael K. Pappas (SOEL Reg. No. 33331) (with Transformation Balance Sheet date on 30/06/2017), and also the entire relevant statements made by the Board of Directors.
• On the 2nd item, the Company's shareholders decided and approved unanimously the appointment of Mr. Theodosios Kolyvas of Antonios, as the Company's delegate and the granting to Mr. Kolyvas of an explicit and special mandate as well as authorization in order to act on behalf of the Company and on the Company's name and perform the execution of the decision with regard to the first item of the daily agenda as following: By the signing of a deed, before a notary, with regard to the contribution of the business segment of production and trade of industrial packaging products of the Company into the fully owned (100%) subsidiary Societe Anonyme under the name "THRACE POLYFILMS INDUSTRIAL AND COMMERCIAL SOCIETE ANONYME", and by proceeding with any other statement, solemn declaration, affirmation as well as for carrying out any other necessary action or legal transaction towards the completion of the above mentioned spin-off procedure and contribution of the business segment.
• On the 3rd item, the Company's shareholders decided and approved unanimously the entire actions, statements and legal transactions of the members of the Board of Directors of the Company, as well as of any additional members or their proxies, that were conducted in the context of the spin-off of the business segment of production and trade of industrial packaging products of the Company and the contribution of the segment into the fully owned (100%) subsidiary Societe Anonyme under the name "THRACE POLYFILMS INDUSTRIAL AND COMMERCIAL SOCIETE ANONYME". The Meeting also granted authorization to the Board of Directors of the Company in order to proceed with any related action or statement that is required for the completion of the above spin-off in front of any pertinent authority, as well as to arrange, according to its own judgment, all matters and issues arising from the above mentioned spin-off.
• On the 4th item, resulting from the spin-off of the business segment of production and trade of industrial packaging products of the Company, the shareholders decided and approved the amendment of the Company's business objective and also the subsequent amendment of article 3 of the Company's Articles of Association, according to the precise form that was previously announced by the Company.
• On the 5th item, following the respective amendment of the Company's articles of association due to the change of its business objective, the shareholders decided and approved the change of the Company's name and the subsequent amendment of article 1 of

the Company's Articles of Association, according to the precise form that was previously announced by the Company.

26 Online availability of financial report

The Interim Condensed Financial Information of the company THRACE PLASTICS Co. S.A. is available on the internet, on the website www.thracegroup.gr.

The Interim Condensed Financial Information has been prepared in accordance with International Accounting Standard 34 (I.A.S.) "Interim Financial Statements", was approved by the Board of Directors on 30 November 2017 and is signed by the representatives of such.

The Chairman and Chief Executive Officer	The Vice-Chairman of the Board	The Head of Financial Services	The Head Accountant
KONSTANTINOS ST.	THEODOSIOS A.
CHALIORIS	KOLYVAS	SPYRIDON A. NTAKAS	FOTINI K. KYRLIDOU
			ID NO. ΑΚ 104541
ID NO. ΑΜ 919476	ID NO. ΑΙ 101026	ID NO. ΑΕ 044759	Accountant Lic. Reg. No. 34806
			Α' CLASS

V. DATA & INFORMATION

30-11-17 www.thracegroup.gr ASSETS 30-09-2017 31-12-16 30-09-2017 31-12-16 1/1 - 30/09/2017 1/1 - 30/09/2016 1/1 - 30/09/2017 1/1 - 30/09/2016 Operating activities Tangible fixed assets 110,004 107,437 6,594 6,151 Earnings, before taxes and minority interest 11,692 17,049 251 (782) Investment property 113 113 14 14 Plus/Minus adjustments for: Intangible assets 11,419 11,605 658 685 Depreciations 9,744 9,003 574 692 Participations in subsidiaries - - 69,261 69,684 Provisions 2,390 1,801 574 752 Participations in companies consolidated with the equity method 13,546 11,347 3,004 1,566 Foreign exchange differences 1,289 160 18 46 Other non-current assets 9,134 10,020 2,208 1,979 (Profit)/loss from sale of fixed assets (107) 60 2 - Inventories 57,344 57,695 2,122 1,785 (Income) / Expenses from investments 180 - (564) - Trade receivables 65,965 50,640 3,364 3,081 Financial (income) / expenses 4,189 3,811 971 1,317 Other current assets 8,307 9,554 12,612 11,906 (Profit)/loss from companies consolidated with the equity method (1,111) (1,374) - - Cash & cash equivalents 31,779 31,080 277 1,853 Operating profit before changes in working capital 28,266 30,510 1,826 2,025 TOTAL ASSETS 307,611 289,491 100,114 98,704 (Increase) / Decrease of receivables (13,739) (9,206) (1,072) (1,069) (Increase) / Decrease of inventories (820) (4,382) (337) (698) EQUITY & LIABILITIES (Decrease) / Increase of liabilities (apart from banks - taxes) 6,180 3,460 (328) (948) Share capital 28,869 29,762 28,869 29,762 Other non cash movements (105) 2,295 - (16) Other equity 103,225 90,910 42,443 41,055 Cash equivalents from operating activities 19,782 22,677 89 (706) Total Shareholders' Equity (a) 132,094 120,672 71,312 70,817 Minus: Minority interest (b) 2,370 2,116 - - Interest expenses and related expenses paid (3,846) (3,893) (963) (952) Total Equity (c) = (a) + (b) 134,464 122,788 71,312 70,817 Taxes (2,537) (3,514) - - Total inflows/(outflows) from operating activities (a) 13,399 15,270 (874) (1,658) Long-term debt 17,506 18,663 - - Provisions/Other-long-term liabilities 23,336 29,993 1,621 1,153 Investment activities Short-term bank debt 70,457 67,139 21,916 21,977 Proceeds from sales of tangible and intangible assets 125 129 35 10 Other-short-term liabilities 61,848 50,908 5,265 4,757 Interest received 13 25 - 1 Total liabilities (d) 173,147 166,703 28,802 27,887 Dividends received 335 197 564 - TOTAL EQUITY & LIABILITIES (c) + (d) 307,611 289,491 100,114 98,704 Increase of participations in subsidiaries / associates (209) (180) (209) (480) Change in consolidation method of related company (902) - - - Purchases of tangible and intangible fixed assets (14,768) (12,066) (1,028) (199) Total inflows / (outflows) from investment activities (b) (15,406) (11,895) (638) (668) 1/1 - 30/09/2017 1/1 - 30/09/2016 1/1 - 30/09/2017 1/1 - 30/09/2016 Financing activities Increase of participations in subsidiaries / associates - - - - 122,788 129,238 70,817 71,406 Proceeds from grants - subsidies - - - - Proceeds from issued / undertaken loans 9,923 6,099 - - Purchase of treasury shares - (404) - (404) Repayments of loans (3,385) (3,216) (60) (3) Financial leases (3,140) 2,417 - - Other comprehensive income 2,930 (21,509) 14 - Dividends paid (4) - (4) - Distributed dividends - - - - Total inflows / (outflows) from financing activities (c) 3,394 4,896 (64) (407) Issued shares - - - - Net increase / (decrease) in cash & cash equivalents Purchase of treasury shares - (404) - (404) for the period (a) + (b) + (c) 1,387 8,271 (1,576) (2,733) Profit distribution - - - - Cash & cash equivalents at the beginning of the period 31,080 26,411 1,853 3,008 Other changes 15 8 - - Effect from changes of exchange rates on cash & cash equivalents (688) (2,529) - - 134,464 121,068 71,312 70,279 Cash & cash equivalents at the end of the period 31,779 32,153 277 275 1/1 - 30/09/2017 1/1 - 30/09/2016 1/7 - 30/09/2017 1/7 - 30/09/2016 1/1 - 30/09/2017 1/1 - 30/09/2016 1/7 - 30/09/2017 1/7 - 30/09/2016 Turnover 243,220 225,491 82,119 74,853 11,236 10,889 3,211 3,307 Gross profit/(losses) 52,301 53,218 17,840 17,868 1,919 1,810 475 527 Earnings/(losses) before Interest and Taxes (EBIT) 14,950 19,490 6,222 6,844 658 534 224 170 Earnings / (losses) before Taxes 11,692 17,049 5,179 6,476 251 (782) 489 (208) Earnings / (losses) after Taxes (A) 8,731 13,735 4,003 5,474 481 (723) 524 (178) - Owners of the parent 8,474 13,445 3,894 5,344 - - - - - Minority interest 257 290 109 130 - - - - Other comprehensive income after taxes (B) 2,930 (21,509) 4,079 (8,086) - - - 0 Total comprehensive income after taxes (A) + (B) 11,661 (7,774) 8,082 (2,612) 481 (723) 524 (178) - Owners of the parent 11,407 (8,068) 7,976 (2,744) - - - - - Minority interest 254 294 106 132 - - - - Earnings / (losses) after taxes per share – basic (in €) 0.1937 0.3053 0.0890 0.1214 - - - - 24,694 28,493 9,453 10,094 1,232 1,226 424 488 ADDITIONAL DATA & INFORMATION 7. Income tax in the statement of comprehensive income is analyzed as follows: 1. 1/1 - 30/09/2017 1/1 - 30/09/2016 1/1 - 30/09/2017 1/1 - 30/09/2016 Income Tax (3,693) (3,672) - - 2. The basic accounting principles of the balance sheet for 31/12/2016 have been followed. Deferred tax 732 358 230 59 (2,961) (3,314) 230 59 3. There are no judicial or under arbitration differences of judicial or arbitration bodies, that may have a significant effect on the financial position of the Company and Group. 8. The cumulative provisions that have been recorded amount to: 30/9/2017 31/12/2016 30/09/2017 31/12/2016 GROUP COMPANY Provision for doubtful debt 6,739 6,679 2,458 2,458 4. The following liens or collateral have been written on fixed assets 8,212 - Provision for staff indemnities 17,845 24,369 360 352 Provisions for tax differences from unaudited fiscal years 677 677 174 174 5. Number of employed staff at the end of each period: Provision for inventory impairment 2,110 2,574 - - 30-09-17 30-09-16 30-09-17 30-09-16 1,818 1,752 77 69 9. 6. The transactions between related parties, according to I.A.S. 24, are as follows: GROUP COMPANY i) Income 4,082 7,999 10. Other comprehensive income concerns the following : ii) Expenses 1,539 537 1/1 - 30/09/2017 1/1 - 30/09/2016 1/1 - 30/09/2017 1/1 - 30/09/2016 iii) Receivables 1,746 12,490 Forex differences from Balance Sheet Conversion (2,562) (6,193) - iv) Liabilities 47 14 Actuarial Profit / (Loss) 5,492 (15,316) - v) Transactions & Remuneration of Board members and senior executives 3,049 1,119 Avdira, 30 November 2017 The Head of Financial Services SPYRIDON A. NTAKAS COMPANY STATEMENT OF CHANGES IN EQUITY THEODOSIOS A. KOLYVAS FOTINI K. KYRLIDOU GROUP COMPANY The Vice-Chairman The Head Accountant KONSTANTINOS ST. CHALIORIS The Chairman and Chief Executive Officer GROUP STATEMENT OF FINANCIAL POSITION STATEMENT OF CASH FLOWS GROUP COMPANY GROUP COMPANY Information regarding the Group structure, participations in subsidiaries and their consolidation method are presented in note 1 of the condensed notes, while the tax unaudited financial years are reported in note 8 of the condensed notes. GROUP GROUP COMPANY Total equity at beginning of period Total Equity at end of period STATEMENT OF COMPREHENSIVE INCOME COMPANY Earnings/ (losses) before Interest, Taxes, Depreciation & Amortization (EBITDA) GROUP COMPANY Earnings / (losses) for the period after taxes 8,731 13,735 481 (723) GROUP COMPANY No company of the Group owns treasury shares, except for the parent company. On 30/09/2017 the Company held no treasury shares. THRACE PLASTICS Co. S.A. Company Reg. No. : 11188/06/Β/86/31, General Commerce Reg. No. : 12512246000 Registered offices: MAGIKO, MUNICIPALITY of AVDIRA, XANTHI, GREECE Data and information for the period from 1 January 2017 to 30 September 2017 According to Decision No. 4/507/28.4.2009 issued by the Board of Directors of the Hellenic Capital Market Commission. Amounts in thousand Euro, unless stated otherwise. The following data and information, that are derived from the financial statements, aim at providing general information on the financial position and results of THRACE PLASTICS Co. S.A. , and the THRACE PLASTICS GROUP. Therefore, before proceeding with any kind of investment choice or other transaction with the Company, readers should refer to the company's website where the financial statements are available together with the audit report by the Certified Public Accountant, when applicable. Company Website: Approval date of the interim condensed financial information by the Board:

ID No. ΑΕ 044759

ID No. ΑΚ 104541 Professional Lic. No. 34806 - Α' CLASS

ID No. ΑΙ 101026

ID No. ΑM 919476