Intracom S.A. Holdings

Interim / Quarterly Report • Nov 18, 2015

CONDENSED BALANCE SHEET Amounts in € thousands					CONDENSED CASH FLOW STATEMENT Amounts in € thousands
	GROUP		COMPANY			GROUP		COMPANY
	30/6/2015	31/12/2014	30/6/2015		31/12/2014 Indirect Method	01/01-30/06/2015	01/01-30/06/2014	01/01-30/06/2015	01/01-30/06/2014
ASSETS					Operating Activities
Property plant and equipment	120.329	122.059	10.120		10.343 Profit/(Loss) before Income Tax (continuing operations)	3.218	-3.096	-2.234	-2.261
Investment property	61.898	58.193	53.798		54.370 Profit/(Loss) before Income Tax (discontinued operations)	0	-6.976	0	0
Intangible assets	24.557	25.271	4		3 Plus / Minus Adjustments for:
Other Non-current assets	44.208	38.565	155.590		155.107 Depreciation	4.520	27.218	816	896
Inventories	36.636	44.952	0	0
Trade Receivables	110.246	108.244	3.483		3.409 Provisions	59	-1.189	0	0
Other current assets	267.031	256.135	101.352		104.688 Translation Differences	547	-26	0	0
TOTAL ASSETS	664.905	653.419	324.347		327.920 Impairment of participations and affiliates	0	0	0	0
					Impairement of receivables	0	0	0	0
					Results (inflows, outflows, profit and losses) from investing activities	-493	4.993	-296	-15
EQUITY AND LIABILITIES					Interest paid and related expense	8.203	12.874	1.773	1.403
Share capital	187.567	187.567	187.567		187.567 Plus / Minus Adjustments for Working Capital Changes
Other Equity	76.005	73.611	89.579		91.790 or related to operating activities.
Capital and reserves attributable to the Company's equity holders (a)	263.572	261.178	277.146		279.357 Decrease / (increase) in inventories	8.252	3.158	0	0
Non controlling interest (b)	25.322	25.192	0		0 Decrease / (increase) in receivables	-83.478	-24.568	-42.378	203
Total Equity (c) = (a) + (b)	288.894	286.370	277.146		279.357 (Decrease) / increase in liabilities (other than banks)	2.181	-5.096	-694	-405
Long-term bank borrowings	64.858	63.552	12.232	13.094 Less:
Provisions/Other long-term liabilities	12.448	8.248	1.500		1.463 Interest expenses and related costs paid	-7.819	-13.558	-1.767	-1.201
Short-term bank borrowings	99.298	91.497	16.980		16.728 Income Tax paid	-429	-2.801	-75	-38
Other short-term liabilities	199.407	203.752	16.489		17.278 Net cash generated from operating activities (a)	-65.239	-9.067	-44.855	-1.418
Total Liabilities (d)	376.011	367.049	47.201		48.563 Investing activities
TOTAL EQUITY AND LIABILITIES (c)+(d)	664.905	653.419	324.347		327.920 Acquisition/formation of subsidiaries, affiliates, joint ventures and other participations
					and proceeds from subsidiary integration	0	397	-100	-694
					Purchase of PPE, investment property and intangible assets	-5.433	-26.520	-40	-178
					Proceeds from sale of PPE, investment propertyand intangible assets	121	196	29	1
					Proceeds from disposal of subsidiary/Decrease in subsidiary's share capital	0	0	1.727	4.765
STATEMENT OF CHANGES IN EQUITY			Interest Received	355	1.664	39	32
	Amounts in € thousands				Total (outflow)/ inflow from investing activities (b)	-4.957	-24.263	1.655	3.926
					Financing activities
					Expenses on issue of subsidiaries share capital	0	0	0	0
	GROUP		COMPANY		Purchase of participation of subsidiary from minority	0	0	0	0
	30/6/2015	30/6/2014	30/6/2015		30/6/2014 Proceeds from borrowings and grants	14.280	5.505	0	0
Balance at the beginning of period (01.01.2015 and 01.01.2014)	286.370	272.170	279.357		313.112 Repayments of borrowings	-7.994	-3.476	0	-2.000
Total comprehensive income for the period after tax	2.304	-13.203	-2.211		-2.423 Repayments of finance leases	-698	-612	-611	-579
Increase / (decrease) in share capital	0	0	0		0 Changes in ownership interests in subsidiaries	216	-248	0	0
Changes in ownership interests in subsidiaries and joint ventures	220	-236	0		0 Total inflow / outflow from financing activities (c )	5.804	1.169	-611	-2.579
Disposal of subsidiaries	0	0	0		0 Net increase / (decrease) in cash and cash equivalents
Acquisition/Formation of subsidiary	0	0	0		0 for the period (a) + (b) + (c )	-64.392	-32.161	-43.811	-71
Balance at the end of period (30.06.2015 and 30.06.2014)	288.894	258.731	277.146		310.689 Cash and cash equivalents at beginning of period	122.794	76.263	66.569	1.748
					Cash and cash equivalents at end of period	58.402	44.102	22.758	1.677

1. Interim Financial Statements have been prepared based on the Accounting Principles as described in the annual audited Financial Statements of 31/12/2014. 7. At end-of-period there are no shares of the parent company at the posession either of the Company or of its subsidiaries.

2. A mortgage of € 2,4 mn. is listed in the fixed assets of the Company . The respective amount for the Group sums up to € 47,7 mn. 8. During current period, amount of € 60 thous. referring to valuation of financial assets available for sale, has been recorded directly to Shareholder's Equity for the company.

3. Number of employees at the end of current period: Company 28 persons (H1 2014: 28 persons) At Group level, the amount of € 1.287 thous. has been recorded, referring to fair value gains of € 393 thous. on financial assets available for sale, and gain of € 894 thous. from currency

Group 2.227 (H1 2014: 4.319 employees). conversion differences.

4. Sales and purchases, cumulatively from the beginning of the fiscal year, as well as the balances of receivables and payables at the end 9. Pursuant decision No 3389/2014 of the Multi-Member Court of First Instance of Athens relating to the lawsuits filed against Intracom Holdings by the major shareholders of Teledome

of the current period for the Company and the Group, by related party transactions, under IAS 24 provisions the plaintiffs were awarded a receivable up to the amount of €41 mn. The Company filed an appeal against the above decision on 30/9/2014, the hearing of which has been set for 14/05/2015

	01/01-30/06/2015		01/01-30/06/2014		01/04-30/06/2015		01/04-30/06/2014		01/01-30/06/2015	01/01-30/06/2014	01/04-30/06/2015	01/04-30/06/2014
	Total	Continuing operations	Discontinued operations	Total	Total	Continuing operations	Discontinued operations	Total
Sales	184.337	167.606	106.690	274.296	93.529	90.334	52.972	143.306	1.596	1.511	782	442
Gross profit (loss)	33.632	26.422	19.866	46.288	14.252	13.740	9.531	23.271	215	177	101	67
Profit/(loss) before tax, financing and investing results	10.985	2.687	4.922	7.609	3.562	1.633	3.113	4.746	-748	-1.128	-543	-702
Profit/(loss) before income tax	3.218	-3.096	-6.976	-10.072	-848	-983	-1.070	-2.053	-2.234	-2.261	-1.135	-1.268
Profit/(loss) after Tax (Α)	1.016	-5.034	-6.999	-12.033	-994	-2.333	-1.385	-3.718	-2.271	-2.328	-1.186	-1.409
-Equity holders of the Company	920	-3.965	-6.859	-10.824	-822	-1.759	-1.683	-3.442	-2.271	-2.328	-1.186	-1.409
-Non-controlling Interest	96	-1.069	-140	-1.209	-172	-574	298	-276	0	0	0	0
Other comprehensive Income for the period, net of tax (Β)	1.288	-1.170	0	-1.170	467	-432	0	-432	60	-95	37	-76
-Equity holders of the Company	1.024	-776	0	-776	313	-275	0	-275	60	-95	37	-76
-Non-controlling Interest	264	-394	0	-394	154	-157	0	-157	0	0	0	0
Total comprehensive Income, net of Tax (Α) + (Β)	2.304	-6.204	-6.999	-13.203	-527	-2.765	-1.385	-4.150	-2.211	-2.423	-1.149	-1.485
-Equity holders of the Company	1.944	-4.741	-6.859	-11.600	-509	-2.034	-1.683	-3.717	-2.211	-2.423	-1.149	-1.485
-Non-controlling Interest	360	-1.463	-140	-1.603	-18	-731	298	-433	0	0	0	0
Earnings After Tax per share - basic (in €)	0,0069	-0,0298	-0,0516	-0,0814	-0,0062	-0,0132	-0,0127	-0,0259	-0,0171	-0,0175	-0,0089	-0,0106
Profit/(loss) before income tax, financing, investing results
and total depreciation	15.505	6.806	28.022	34.828	5.832	3.692	14.624	18.316	68	-232	-159	-253

are as follows :	Group	Company	on the Athens Court of Appeal.
			Furthermore, following an Interim Relief Procedure, the plaintiffs were provided with guarantees up to the aforementioned amount (letters of guarantee).
Amounts in € thousands				Upon plaintiffs request the hearing of the appeal against the aforementionned decision of the Multi-Member Court of First Instance of Athens, filed by our comany, has been postponned for 1/10/2015
a) Income	3.625	2.273		On 10/02/2015 the Company received notice of a lawsuit by which the major shareholders of Teledome SA claim anew, in conjunction with prior claims, the release of their personnal guarantees
b) Expenses	187	338	to the Banks for an amount of €13 mn. approximately.
c) Receivables	18.149	26.247		The aforementionned hearing before the Multi-Member Court of First Instance of Athens has been set for 14/12/2017
d) Payables	9.669	11.138		Other than the cases listed above, there are no additional legal disputes or cases on arbitration or decisions by courts or arbitration bodies that affect or may materially affect the financial position
e)Transactions and remuneration of directors and key management.	1.223	563	of the Company or the Group, in excess of the existing provisions.
f) Receivables from directors and key management	16	0	Other provisions at 30/06/2015 sum up to € 100 thous. for the company and € 6.528 thous. for the Group
g) Payables to directors and key management	26	0		There are no provisions for unaudited fiscal periods for the Company, whereas provisions for unaudited fiscal periods for the Group sum up to € 611 thous.
5. Information about the subsidiaries, associates and the joint ventures of the Group as of 30.06.2015 (name, country of incorporation,				The Group and the Company have recognised provisions for court decisions and disputes subject to judicial proceedings or arbitration amounting to €2.576 thous.
direct interest held), as well as the consolidation method are presented in Note 20 of the financial statements.				10. The auditing review report emphasizes the pending legal dispute, for which reference is made at Note 16 of the financial statements
Furthermore, Note 20 accounts for changes in the consolidation method.				and at Note 9 of the present report, as well as the risks arising from the macroeconomic environment in Greece, detailed in Note 3 of the Financial Statements.
6. Unaudited fiscal years by tax authorities for the Company and the Group are explicitly listed in Note 20 of the financial statements
			Peania, 28 August 2015
THE CHAIRMAN
OF THE BOARD OF DIRECTORS		CHIEF EXECUTIVE OFFICER	CHIEF FINANCIAL OFFICER	ACCOUNTING MANAGER
			& MEMBER OF THE BoD
D.C. KLONIS		Κ. S. KOKKALIS	G. SP. KOLIASTASIS	Ι. Κ. TSOUMAS
ID No ΑΚ 121708/07.10.2011		ID No ΑΙ 091122/14.10.2009	ID No S 699882/9.11.1998	ID No ΑΖ 505361/10.12.2007 LC 637 First Class

Upon decision 4/507/28.4.2009 of Capital Market Committee BoD

INTRACOM HOLDINGS SA

General Registry of Commerce No: 303201000 (.Former Ledger No 13906/06/Β/86/20)

19 km MARKOPOULOU AVE., GR-19002, PEANIA ATHENS

Concise financial information for the period from 1 January 2015 to 30 June 2015

The purpose of the financial information set out below is to provide an overview of the financial position and financial results of INTRACOM HOLDINGS SA and INTRACOM GROUP. We advice the reader, before making any investment decision or other transaction with the Company, to visit the Company's website where the interim financial statements prepared in accordance with International Financial Reporting Standards together with the audit review of the independent auditors, whenever this is required, are presented.

GROUP

COMPANY

Amounts in € thousands STATEMENT OF COMPREHENSIVE INCOME

ADDITIONAL DATA AND INFORMATION:

Web address:	www.intracom.com
Date of approval of the periodic financial statements by the BoD	28 August 2015

Certified Public Accountant Auditor: Zoe D. Sofou Institute of CPA (SOEL) Reg. No. 14701 Auditing Firm: SOL S.A. CERTIFIED AUDITORS ACCOUNTANTS Review Report: With no qualification - Emphasis of Matters