Inform P. Lykos Holdings S.A.

Quarterly Report • Dec 1, 2015

Web address: www.lykos.gr Date of the Board of Directors approval of the nine months period financial statements: 27th November, 2015

STATEMENT OF FINANCIAL POSITION (consolidated and non-consolidated)						1/1-30/9/2015		1/1-30/9/2014
Amounts in Euro	THE GROUP		THE COMPANY			Continuing activities *	Continuing activities	Discontinued activity	Total
ASSETS	30/09/2015	31/12/2014	30/09/2015	31/12/2014	Revenue Gross profit / (loss)	48.260.321 7.569.240	43.315.463 7.443.822	43.910.470 16.637.719	87.225.933 24.081.541
Property, plant and equipment Investment property Intangible assets and goodwill	58.618.150 322.898 3.410.842	59.876.116 322.739 3.430.871	32.616.827 0 1.171.642	33.703.518 0 1.141.043	Operating profit / (loss)	541.946	170.604	2.745.932	2.916.536
Other non current assets Inventories	116.128 6.348.392	166.850 6.415.152	22.200.359 3.936.541	29.452.086 4.220.125	Profit / (loss) before tax Profit / (loss) net of tax	(334.916) (219.534)	(630.239) (999.992)	2.397.558 1.900.192	1.767.319 900.200
Trade receivables Other current assets TOTAL ASSETS	14.486.644 5.875.693 89.178.745	14.882.905 44.028.268 129.122.900	7.390.570 3.768.855 71.084.795	7.540.916 35.416.133 111.473.821	Attributable to: Owners of the Company	(243.220)	(1.022.080)	1.900.192	878.112
EQUITY					Non-controlling interests	23.685	22.089	0	22.089
Share capital Share premium,reserves and retained earnings	12.758.592 42.452.890	12.758.592 65.137.529	12.758.592 36.727.533	12.758.592 59.947.392	Basic earnings / (losses) net of taxes per share (euro) Earnings / (losses) before taxes, financing, investing results and total depreciation / amortisation	(0,0107)	(0,0486)	0,0923	0,0437
Total equity attributable to owners of the Company (a) Non-controlling interests (b)	55.211.482 589.214	77.896.121 558.535	49.486.125 0	72.705.984 0		3.230.400	2.229.489	4.542.127	6.771.616
Total equity (c)=(a)+(b) Non-current loans and borrowings	55.800.696 2.762.389	78.454.656 3.784.402	49.486.125 1.185.729	72.705.984 1.386.992			THE GROUP
Other non-current liabilities Current loans and borrowings Other current liabilities	2.729.150 12.228.627 15.657.883	3.124.996 27.300.008 16.458.838	2.435.741 9.010.531 8.966.669	2.869.627 25.578.670 8.932.548		1/7-30/9/2015 Continuing activities *	Continuing activities	1/7-30/9/2014 Discontinued activity	Total
Total liabilities (d) Total equity and liabilities (c) + (d)	33.378.049 89.178.745	50.668.244 129.122.900	21.598.670 71.084.795	38.767.837 111.473.821	Revenue Gross profit / (loss)	17.141.209 2.598.540	13.682.893 2.301.613	15.389.604 6.612.919	29.072.497 8.914.532

								Amounts in Euro	THE GROUP
		Amounts in Euro	STATEMENT OF FINANCIAL POSITION (consolidated and non-consolidated)					1/1-30/9/2015 Continuing	Continuing	1/1-30/9/2014 Discontinued
			THE GROUP		THE COMPANY			activities *	activities	activity	Total
			30/09/2015	31/12/2014	30/09/2015	31/12/2014	Revenue Gross profit / (loss)	48.260.321 7.569.240	43.315.463 7.443.822	43.910.470 16.637.719	87.225.933 24.081.541
			322.898	322.739	0	0	Operating profit / (loss)	541.946	170.604	2.745.932	2.916.536
			116.128	166.850	22.200.359	29.452.086	Profit / (loss) before tax	(334.916)	(630.239)	2.397.558	1.767.319
			6.348.392	6.415.152	3.936.541	4.220.125	Profit / (loss) net of tax	(219.534)	(999.992)	1.900.192	900.200
			89.178.745	129.122.900	71.084.795	111.473.821	Owners of the Company Non-controlling interests	(243.220) 23.685	(1.022.080) 22.089	1.900.192 0	878.112 22.089
			12.758.592	12.758.592	12.758.592	12.758.592	Basic earnings / (losses) net of taxes per share (euro)	(0,0107)	(0,0486)	0,0923	0,0437
			42.452.890	65.137.529	36.727.533	59.947.392	Earnings / (losses) before taxes, financing, investing results and total depreciation / amortisation
Total equity attributable to owners of the Company (a)			55.211.482	77.896.121	49.486.125	72.705.984		3.230.400	2.229.489	4.542.127	6.771.616
									THE GROUP
								1/7-30/9/2015		1/7-30/9/2014
								Continuing activities *	Continuing activities	Discontinued activity	Total
			33.378.049	50.668.244	21.598.670	38.767.837	Revenue	17.141.209	13.682.893	15.389.604	29.072.497
			89.178.745	129.122.900	71.084.795	111.473.821	Gross profit / (loss)	2.598.540	2.301.613	6.612.919	8.914.532
			STATEMENT OF OTHER COMPREHENSIVE INCOME (consolidated and non-consolidated)				Operating profit / (loss)	227.622	(256.562)	2.290.412	2.033.850
		Amounts in Euro					Profit / (loss) before tax	(94.317)	(544.479)	2.215.884	1.671.405
			1/1-	THE GROUP 1/1-	1/7-	1/7-	Profit / (loss) net of tax	(61.976)	(687.997)	1.702.405	1.014.408
			30/9/2015	30/9/2014	30/9/2015	30/9/2014	Attributable to: Owners of the Company	(78.208)	(897.153)	1.900.190	1.003.037
			(219.534)	900.200	(61.976)	1.014.408	Non-controlling interests	16.231	209.156	(197.786)	11.370
Total compehensive income net of tax (a) + (b)			141.756	914.937	254.530	822.061	Basic earnings / (losses) net of taxes per share (euro)	(0,0030)	(0,0334)	0,0827	0,0493
			111.077	885.559	232.068	812.953	Earnings / (losses) before taxes, financing, investing results and total depreciation / amortisation	1.129.165	440.079	2.872.266	3.312.345
				THE COMPANY					THE COMPANY
			1/1- 30/9/2015	1/1- 30/9/2014	1/7- 30/9/2015	1/7- 30/9/2014		1/1-30/9/2015 Continuing	Continuing	1/1-30/9/2014 Discontinued
			(424.143)	(1.098.126)	(36.297)	(731.680)	Revenue	activities * 26.063.828	activities 23.362.509	activity 0	Total 23.362.509
Total compehensive income net of tax (a) + (b)			0 (424.143)	0 (1.098.126)	0 (36.297)	0 (731.680)	Gross profit / (loss)	4.485.846	4.576.580	0 0	4.576.580 0
							Operating profit / (loss)	(25.399)	(439.244)	0	(439.244)
			0	0	0	0	Profit / (loss) before tax Profit / (loss) net of tax	(637.400) (424.143)	(739.880) (1.098.126)	0 0	(739.880) (1.098.126)
		Amounts in Euro	STATEMENT OF CHANGES IN EQUITY (consolidated and non-consolidated)				Attributable to: Owners of the Company	(424.143)	(1.098.126)	0	(1.098.126)
			THE GROUP		THE COMPANY		Non-controlling interests	0	0	0	0
			30/9/2015	30/9/2014	30/9/2015	30/9/2014	Basic earnings / (losses) net of taxes per share (euro) Earnings / (losses) before taxes, financing, investing results	(0,0206)	(0,0534)	0,0000	(0,0534)
			78.454.656	77.280.496	72.705.984	47.686.978	and total depreciation / amortisation	1.911.606	879.281	0	879.281
									THE COMPANY
			55.800.696	78.195.433	49.486.125	46.588.852		1/7-30/9/2015 Continuing	Continuing	1/7-30/9/2014 Discontinued
		ADDITIONAL DATA AND INFORMATION					Revenue	activities * 9.557.935	activities 6.865.739	activity 0	Total 6.865.739
							Gross profit / (loss)	1.622.347	1.266.940	0 0	1.266.940 0
Country	Participation	Consolidation	Participation	Tax			Operating profit / (loss)	160.489	(517.157)	0	(517.157)
	Percentage %	Method	Relation	Unaudited			Profit / (loss) before tax	(83.636)	(636.646)	0	(636.646)
Greece		-	Parent	Years			Profit / (loss) net of tax	(36.297)	(731.680)	0	(731.680)
Greece Cyprus		Total Total	Direct Direct	2004-2014			Attributable to: Owners of the Company	(36.297)	(731.680)	0	(731.680)
Cyprus Romania		Total Total	Indirect Indirect				Non-controlling interests	0	0	0	0
Romania Austria		Total Total	Indirect Direct	2010-2014			Basic earnings / (losses) net of taxes per share (euro) Earnings / (losses) before taxes, financing, investing results	(0,0018)	(0,0356)	0,0000	(0,0356)
Albania		Total	Direct				and total depreciation / amortisation	809.784	(69.628)	0	(69.628)
							* Concern in parallel and the total figures of the period. The stated discontinuity of the activity finalized at 31/12/2014 (see beside the explanatory note No.2)

STATEMENT OF CHANGES IN EQUITY (consolidated and non-consolidated) Amounts in Euro
	THE GROUP		THE COMPANY
	30/9/2015	30/9/2014	30/9/2015	30/9/2014
Total equity at the beginning of the period (01.01.2015 and
01.01.2014 respectively)
Total comprehensive income after taxes	141.756	914.937	(424.143)	(1.098.126)
Total transactions with the owners of the company	(22.795.716)	0	(22.795.716)	0
Total equity at the end of the period (30.09.2015 and
30.09.2014 respectively)	55.800.696	78.195.433	49.486.125	46.588.852

1. 0 0 The name, the country of the headquarters of every company included in the consolidated financial statements, the tax unaudited years, as well as the participating interest, direct or indirect of the parent company and the incorporation method applied regarding every company, are as follows:

	Country	Participation	Consolidation	Participation	Tax
Company		Percentage %			Unaudited
					Years
INFORM P.LYKOS S.A.	Greece	Parent	-	Parent	2009-2010
Lykos Paperless Solutions S.A.	Greece	99,91%	Total	Direct	2010	Attributable to:
Terrane L.T.D.		100,00%			2004-2014
Inform Lykos (Romania) L.T.D.		98,19%			2003-2014
Inform Lykos S.A.	Romania	98,19%	Total	Indirect	2005-2014
Compaper Converting S.A.		95,68%			2001-2014
Sagime GmbH	Austria	100,00%	Total	Direct	2010-2014	Earnings / (losses) before taxes, financing, investing results
Albanian Digital Printing Solutions Sh.p.k.		51,00%			2011-2014

2. At 31/12/2014 finalised the sale of the whole shares of the company AUSTRIA CARD GmbH (cards segment), after the approval of extraordinary General Assembly of shareholders of INFORM P. LYKOS S.A., that took place at 15th of December, 2014. With the aforementioned sale, the company aims to the reinforcement of the position of the Group in the intensely competitive international market of printing division. It is noted that cards division is represented by the recently 100% subsidiary company "Austria Card GmbH" of Sagime GmbH, located in Vienna of Austria, and also by 100% controlled from this subsidiary companies, which are as following:

INFORM P. LYKOS S.A. GENERAL ELECTRONIC COMMERCIAL REGISTRY No. 359201000

5th km VARIS-KOROPIOU AVE, KOROPI

Company	Country
Austria Card GmbH	Austria
Austria Card Polska Sp.z.o.o.
Austria Card Akilii Kart STI	Turkey
Austria Card SRL	Romania
Austria Card Turkey Kart Oper.A.S.

STATEMENT OF OTHER COMPREHENSIVE INCOME (consolidated and non-consolidated)
Amounts in Euro					Profit / (loss) before tax	(94.317)	(544.479)	2.215.884	1.671.405
		THE GROUP			Profit / (loss) net of tax	(61.976)	(687.997)	1.702.405	1.014.408
	1/1-	1/1-	1/7-	1/7-
	30/9/2015	30/9/2014	30/9/2015	30/9/2014	Attributable to:
					Owners of the Company	(78.208)	(897.153)	1.900.190	1.003.037
Profit / (losses) net of tax (a)	(219.534)	900.200	(61.976)	1.014.408	Non-controlling interests	16.231	209.156	(197.786)	11.370
Other comprehensive income net of tax (b)	361.290	14.737	316.506	(192.347)
Total compehensive income net of tax (a) + (b)	141.756	914.937	254.530	822.061	Basic earnings / (losses) net of taxes per share (euro)	(0,0030)	(0,0334)	0,0827	0,0493
					Earnings / (losses) before taxes, financing, investing results
- Owners of the Company	111.077	885.559	232.068	812.953	and total depreciation / amortisation	1.129.165	440.079	2.872.266	3.312.345
- Non-controlling interests	30.679	29.378	22.462	9.108
							THE COMPANY
		THE COMPANY
	1/1-	1/1-	1/7-	1/7-		1/1-30/9/2015		1/1-30/9/2014
	30/9/2015	30/9/2014	30/9/2015	30/9/2014		Continuing	Continuing	Discontinued
						activities *	activities	activity	Total
Profit / (losses) net of tax (a) Other comprehensive income net of tax (b)	(424.143) 0	(1.098.126) 0	(36.297) 0	(731.680) 0	Revenue Gross profit / (loss)	26.063.828 4.485.846	23.362.509 4.576.580	0 0	23.362.509 4.576.580
Total compehensive income net of tax (a) + (b)	(424.143)	(1.098.126)	(36.297)	(731.680)				0	0
					Operating profit / (loss)	(25.399)	(439.244)	0	(439.244)
- Owners of the Company	(424.143)	(1.098.126)	(36.297)	(731.680)
- Non-controlling interests	0	0	0	0	Profit / (loss) before tax	(637.400)	(739.880)	0	(739.880)
					Profit / (loss) net of tax	(424.143)	(1.098.126)	0	(1.098.126)

SUMMARY FINANCIAL STATEMENTS AND INFORMATION OF THE PERIOD FROM JANUARY 1, 2015 TO SEPTEMBER 30, 2015 (Published according to the decision no. 4/507/28.4.2009 of the Board of Directors of the Stock Market Commitee)

STATEMENT OF PROFIT AND LOSS (consolidated and non-consolidated)

STATEMENT OF CASH FLOWS (consolidated and non-consolidated) Amounts in Euro

ADDITIONAL DATA AND INFORMATION

10Intercompany transactions between the Company, the Group and their associates during the period 1/1/2015 - 30/9/2015 are as follows:
	The Group	The Company
a) Income
b) Expenses	4.491.710	7.128.636
c) Receivables
d) Liabilities

Poland Austria Card Polska Sp.z.o.o.	Indirect Method Indirect Method	THE GROUP		THE COMPANY
Austria Card Akilii Kart STI Turkey		1/1-	1/1-	1/1-	1/1-
Austria Card SRL Romania Turkey		30/9/2015	30/9/2014	30/9/2015	30/9/2014
Austria Card Turkey Kart Oper.A.S. More information for the above transaction are included in the explanatory note No.6 of the annual financial report of the year 2014 as well as in "Information Release for sale of	Cash flows from operating activities Profit / (loss) before taxes (continued operations)	(334.916)	(630.239)	(637.400)	(739.880)
AUSTRIA CARD" which are presented to web address of Athens Stock Exchange (www.helex.gr).	Plus / less adjustments for :
Also in note No.6 of interim financial statements of the Group for the period 1/1 - 30/9/2015 are presented analytically the figures of results and net cash flows concerning	Depreciation / Amortisation	2.688.454	2.058.886	1.937.006	1.318.525
operating, investing and financing activities of discontinued activity for comparable period 1/1 - 30/9/2014.	Provisions / Accrued expenses	(24.037)	31.971	(24.037)	26.536
3. The item "Other comprehensive income after taxes " for the period 1/1 - 30/9/2015 that is included in the "Statement of comprehensive income" of the Group amounting to €	Other non cash transactions Net finance costs Net finance costs	(9.854) 876.862	(273.288) 800.844	(9.854) 612.001	(271.800) 300.636
361.290 concerns at all exchange differencies from the conversion of the financial statements of business activities abroad (after taxes). The corresponding amount for the period	Plus / less adjustments for changes in accounts related
1/1 - 30/9/2014 that is included in the "Statement of comprehensive income" of the Group amounting to € 14.737 also concerns at all exchange differencies from the conversion of	to working capital or operating activities:
the financial statements of business activities abroad (after taxes). 4. There was no case of change in the duration or end of the fiscal year or the consolidation method of the companies of the Group.	Decrease / (Increase) of inventories Decrease / (Increase) of trade and other receivables	(146.512) (7.824)	(872.724) (2.581.602)	348.921 (217.995)	(576.071) (1.414.505)
5. The financial statements of the Group since 12/03/2014 are included into the consolidated financial statements of AUSTRIA CARD A.G. (former: LYKOS A.G.) domiciled in Austria.	Decrease / (Increase) of trade and other payables (except loans)	(1.632.060)	1.660.994	(315.099)	912.530
	Less:
6. There are encumbrances on the Group' s property, plant and equipment with value of € 6 million in order to cover loan obligations. There are no encumbrances on the parent	Finance costs paid	(783.543)	(736.731)	(592.447)	(518.717)
company' s property, plant and equipment. 7. There are no pending judicial cases or other disputes under arbitration, which might affect materially the financial position or operation of the company or the whole Group.	(Taxes paid) / Returns on income taxes Operating flows from discontinued activities	(11.260) 0	38.973 (198.649)	0 0	46.566 0
8. The cumulative provision for the tax unaudited years for the parent company amounts to € 15.000. There was no any recorded significant provision, within the meaning of	Net cash from operating activities (a)	615.310	(701.565)	1.101.096	(916.180)
paragraphs 10, 11 and 14 of IAS 37. 9. The personnel number of the Group and the Company is as follows:	Cash flows from investing activities
The Group The Company	Acquisition of property, plant, equipment and intangible assets	(1.091.457)	(1.053.890)	(928.714)	(673.955)
30/9/15 30/9/14 30/9/15 30/9/14	Proceeds from sale of property, plant, equipment and intangible assets	57.654	131.327	57.654	48.576
Number of personnel 430 913 195 216	Dividends received Interest received	0 183.025	0 158.336	32.475.000 182.730	0 157.709
10Intercompany transactions between the Company, the Group and their associates during the period 1/1/2015 - 30/9/2015 are as follows:	Investing flows from discontinued activities	0	(2.243.188)	0	0
The Group The Company
a) Income 150.298 537.866 b) Expenses 4.491.710 7.128.636	Net cash used in investing activities (b)	(850.778)	(3.007.415)	31.786.670	(467.670)
c) Receivables 94.547 662.801	Cash flows from financing activities
d) Liabilities 3.753.220 3.120.604	Share capital decrease through capital return in cash	(14.404.862)	0	(14.404.862)	0
e) Transactions and fees of Directors and 264.550 264.550 members of the Management	Repayment of borrowing from subsidiary company Proceeds from loans and borrowings	0 4.100.343	0 1.500.000	7.250.000 3.400.000	0 1.500.000
f) Receivables from Directors and members 0 0	Repayment of borrowings	(20.002.204)	(3.616.761)	(20.000.000)	(3.246.831)
of the Management	Granted loans	0	0	0	(30.000)
0 0 g) Liabilities to Directors and members of the Management	Payment of finance lease liabilities Dividends paid	(153.674) (8.221.134)	(187.831) (2.068)	(88.535) (8.221.134)	(36.916) (2.068)
Investments in property, plant, equipment and intangible assets during the period 1/1/2015 - 30/9/2015, were amounted for the Company and the Group in € 929 thous. and €
11. 1.092 thous. respectively.	Payment of expenses for share capital increase	(159.505)	0	(159.505)	0
12. Earnings/(losses) per share have been calculated according to the allocation of earnings upon the weighted average number of shares. 13.	Financing flows from discontinued activities	0	(357.755)	0	0
In the above financial statements, there have been applied the accounting principles, that were used under the preparation of the financial statements for the previous year 2014, adjusted with the revisions prescribed by IFRS apart from cases mentioned in explanatory note No.25 of the interim financial statements of the period 1/1 - 30/9/2015.	Net cash from financing activities (c)	(38.841.036)	(2.664.415)	(32.224.036)	(1.815.815)
	Net increase (decrease) in cash and cash equivalents
The interim financial statements of September 30th, 2015 for the Parent Company and the Group, were approved by the Board of Directors of the Company at November 27, 2015. 14. Board of Directors members are: Nikolaos Lykos, Panagiotis Spyropoulos, Georgios Triantafillidis, Elias Karantzalis, Eleftherios Hiliadakis, Panagiotis Lykos, Constantinos Lagios,	of the period (a) + (b) + (c)	(39.076.504)	(6.373.395)	663.730	(3.199.665)
Spiridon Manias.	Cash and cash equivalents at the beginning of the period	41.327.464	8.024.121	1.034.088	3.660.630
15. The share capital of the Company was changed during the period in realisation of relevant decision of extraordinary General Assembly which conferenced at 27/2/2015. Specifically,	Effect from change in exchange rates	7.179	9.036	0	0
the extraordinary General Assembly in concert approved the increase of share capital by capitalisation partially of share premium reserve amounting to € 14.404.861,80 with increase of named value of share by € 0,70 and concurrent equal reduction of share capital aiming to capital return by cash payment to the shareholders and provided the	Cash and cash equivalents at the end of the period	2.258.139	1.659.762	1.697.818	460.965
authorisation to the Board of Directors of the Company for the regulation of all the procedural issues for the execution and realisation of the aforementioned decision regarding the
increase and decrease of the share capital.
16. In acceptance of the relevant proposal of the Board of Directors of the Company the regular General Assembly of the year 2015 which took place at 28/5/2015 decided the distribution of dividend € 0,40 (net of taxes € 0,36) per share which means total dividend amounting to € 8.231.350. The aforementioned amount was fully paid in June of the
current year 2015.
Koropi Attikis, 27 November 2015
Α.∆.T ΑΙ 579288
PRESIDENT OF THE BoD MANAGING DIRECTOR OF THE GROUP ΝΙΚΟΛΑΟΣ ΛΥΚΟΣ	CHIEF FINANCIAL OFFICER			ACCOUNTING MANAGER
Α.∆.T ΑΒ 241783
NIKOLAOS LYKOS PANAGIOTIS SPYROPOULOS	ALEXANDRA ADAM			ANASTASIOS ΤΑΤΟS
I.D. no. ΑΒ 241783 I.D. no. ΑΙ 579288	I.D. no. ΑΕ 118025			I.D. no. S 240679
				REG. No. 9657-A' CLASS

	The Group	The com
30/9/15	30/9/14	30/9/15
430 .	913 .	195 .

The following figures and information which arise from the financial statements are intended to provide a general briefing about the financial position and results of INFORM P. LYKOS S.A. Group. Therefore, the reader is recommended before proceeding to any kind of investment choice or other transaction with the company, to refer to the company' s web address where the periodical financial statements and the auditor' s report whenever required, are presented.