Gr. Sarantis S.A.

Management Reports • Oct 5, 2015

					GRIGORIS SARANTIS A.B.E.E.
					ANONYMOUS INDUSTRIAL & COMMERCIAL COMPANY OF COSMETICS, CLOTHING, HOUSEHOLD & PHARMACEUTICAL PRODUCTS REGISTRATION No. 13083/06/B/86/27 Data and information of period 1 of January till 30 of June 2006
					(∆ηµοσιευόµενα βάσει του Ν. 2190, αρθρο 135 για τις επιχειρήσεις που συντάσσουν ετήσιες Οικονοµικές Καταστάσεις, Ενοποιηµένες και µη κατά τα ∆ΛΠ)
statements according to IFRS as well as the auditor's review report, whenever required, are posted.					The following data and information aim at providing general information for the financial statements and results of the GR. SARANTIS ABEE and the GROUP. The reader who seeks to have an overview of the financial , before making any investment decision or any other transaction with the company, to visit the company web site www.sarantis.gr where the financial
INFORMATION FOR THE COMPANY						GROUP STRUCTURE	DIRECT	INDIRECT
Full company name:	GR. SARANTIS A.B.E.E.				COMPANY	COUNTRY	PARTICIPATIONPERCE NTAGE	PARTICIPATION PERCENTAGE	TOTAL	UNAUDITED TAX YEARS
Address base: Date of incorporation:	Amarousiou - Halandriou 26 Str., 151 25, Marous 1964				FULL CONSOLIDATION METHOD K. THEODORIDIS A.E.	GREECE	50.00%	0.00%	50.00%	2004-2005
Duration of the company: Main activity:	31 Dec. 2040 ANONYMOUS INDUSTRIAL & COMMERCIAL COMPANY OF COSMETICS, CLOTHING, 13083/06/Β/86/27				ΟΤΟ ΤOP OOD VENTURES A.E.	BULGARIA GREECE	0.00% 70.00%	25.50% 0.00%	25.50% 70.00%	1999-2005 2005
Registration no: Supervising authority:	MINISTRY OF DEVELOPMENT,				GR SARANTIS CYPRUS LIMITED BRIARDALE SERVICES S.A	CYPRUS ISLE OF MAN	100.00% 0.00%	0.00% 100.00%	100.00% 100.00%	- -
094017922 / DOY FAVE ATHINO V.A.T. no:				SARANTIS BULGARIA L.T.D SARANTIS ROMANIA S.A SARANTIS DISTRIBUTION S.C	BULGARIA ROMANIA ROMANIA	0.00% 0.00% 0.00%	100.00% 100.00% 100.00%	100.00% 100.00% 100.00%	1999-2005 2005 2005
Grigoris Sarantis son of Pantazis: President - Executive member, Kiriakos Sarantis son of Pantazis: Vice President - Managing Director - Executive member,					SARANTIS L.T.D BELGRADE SARANTIS SKOPJE L.T.D	SERBIA SKOPJE	0.00% 0.00%	100.00% 100.00%	100.00% 100.00%	- -
	George Koletsos son of Athanasios: Managing Director -Executive member, Konstantinos Rozakeas son of Petros: Executive member,				SARANTIS POLSKA S.A LINCO L.T.D	POLAND POLAND	0.00% 0.00%	99.40% 99.40%	99.40% 99.40%	2005 2005
Members of the board of Directors:	Pantazis Sarantis son of Grigoris: Non executive member, Aikaterini Saranti daughter of Pantazis: Non executive member,				ΝΕΤ WEST POLAND S.A SARANTIS CZECH REPUBLIC sro	POLAND CZECH REPUBLIC	0.00% 0.00%	99.40% 99.40%	99.40% 99.40%	2005 2005
	Konstantinos Stamatiou son of Fokionos: Executive member, Aimilios Kiprianidis son of Simeon: Independent and non Executive member,				VENUS S.A ΖΕΤΑ ΑΕ	LUXEMBOURG GREECE	0.00% 0.00%	100.00% 100.00%	100.00% 100.00%	- 2005
	Nikolaos Kontidis son of Konstantinos: Independent and non Executive member,				ΖΕΤΑ FIN LTD WALDECK LIMITED	CYPRUS CYPRUS	0.00% 0.00%	100.00% 100.00%	100.00% 100.00%	2002-2005 -
Current year end:	31 Dec. 2005				SAREAST SARANTIS RUSSIA	CYPRUS RUSSIA	0.00% 0.00%	65.00% 65.00%	65.00% 65.00%	- -
Current period duration: Type of Financial Statements	12 MONTHS INTERIM OF 1st SEMESTER 2006				ΖΕΤΑ COSMETICS LTD SARANTIS ANADOL S.A.	CYPRUS TURKEY	0.00% 99.98%	100.00% 0.00%	100.00% 99.98%	2002-2005 -
(from which these data have been extracted): Approval date of Financial Statements	24/7/2006				SARANTIS HUNGARY KFT	HUNGARY	0.00%	100.00%	100.00%	-
(from which these data have been extracted): Auditors: Auditors Company:	IOANNIS V. KALOGEROPOULOS - Α.Μ.S.Ο.ΕΛ. 10741 BAKER TILLY HELLAS A.E.				SARANTIS UKRAINE S.A.	UKRAINE	100.00%	0.00%	100.00%	-
Auditors' opinion: Internet address:	UNQUALIFIED www.sarantis.gr				EQUITY METHOD K. P. MARINOPOULOS A.E.	GREECE	49.00%	0.00%	49.00%	2003-2005
					ΕLCA COSMETICS LTD ESTEE LAUDER HELLAS SA	CYPRUS GREECE	0.00% 0.00%	49.00% 49.00%	49.00% 49.00%	2001-2005 2001-2005
					ΕSTEE LAUDER BULGARIA ΙΜ COSMETICS SA	BULGARIA ROMANIA	0.00% 0.00%	49.00% 49.00%	49.00% 49.00%	2001-2005 2001-2005
BALANCE SHEET AS AT 30 JUNE 2006
(Amounts are expressed in Euro)	THE GROUP		THE COMPANY		DATA FROM INCOME STATEMENT AT 31 JUNE 2006 (Amounts are expressed in Euro)		THE GROUP				THE COMPANY
ASSETS			01/01-30/06/2006 01/01-31/12/2005 01/01-30/06/2006 01/01-31/12/2005		Total Turnover	01/01-30/06/2006 107,355,533.23	99,552,242.38	58,529,231.53	54,729,421.60	59,229,145.06	01/01-30/06/2005 01/04-30/06/2006 01/04-30/06/2005 01/01-30/06/2006 01/01-30/06/2005 01/04-30/06/2006 01/04-30/06/2005 58,289,110.97	32,683,862.84	32,570,079.99
Fixed assets	42,150,967.82	44,788,257.74	36,986,812.85	38,066,277.03	Gross profit / (loss)	52,942,548.42	48,262,448.02	28,895,791.50	26,864,980.36	29,901,830.98	28,929,413.95	16,800,921.97	16,643,146.32
Inventories Trade receivables	42,536,175.70 78,577,892.08	40,036,691.78 73,424,196.88	22,943,630.25 57,052,509.59	17,841,350.05 48,203,450.40	Gross profit / (loss) before tax, financial and investment results and depreciation Gross profit / (loss) before tax, financial and investment results	16,008,116.13 14,175,372.90	15,811,506.93 13,972,913.43	9,471,667.63 8,527,248.44	9,282,664.76 8,428,027.40	8,196,752.15 7,017,639.27	8,509,819.07 7,386,036.19	4,434,173.76 3,792,775.69	4,632,783.42 4,070,006.08
Other assets TOTAL ASSETS	60,761,553.44 224,026,589.04	59,309,893.20	75,683,934.78 217,559,039.60 192,666,887.47	80,770,513.65 184,881,591.13	Gross profit / (loss) before tax Less: Income tax expense Profit / (loss) after tax	15,443,603.78 4,161,532.31 11,282,071.47	12,729,624.03 2,793,624.50 9,935,999.53	9,340,134.27 2,503,757.53 6,836,376.74	7,840,945.66 1,484,926.93 6,356,018.73	8,760,418.55 1,959,505.12 6,800,913.43	6,953,006.63 1,208,585.15 5,744,421.48	4,998,771.43 1,067,270.28 3,931,501.15	3,612,260.77 520,034.40 3,092,226.37
LIABILITIES & SHAREHOLDERS' FUNDS					Allocated to :
Long term liabilities Short term liabilities to banks	46,803,029.66 61,275,738.00	98,317,624.19 7,814,499.80	45,865,792.05 56,000,000.00	105,169,867.03 0.00	Company's shareholders Interest's shareholders	11,138,497.01 143,574.46	9,854,269.47 81,730.06	6,666,232.38 170,144.36	6,338,259.75 17,758.98	6,800,913.43 -	5,744,421.48 -	3,931,501.15 -	3,092,226.37 -
Other short term liabilities	52,768,309.33	48,648,866.57	43,910,102.68	30,570,853.87	After tax earnings per share (in Euro)	0.29	0.26	0.17	0.17	0.18	0.15	0.10	0.08
TOTAL LIABILITIES	160,847,076.99		154,780,990.56 145,775,894.73	135,740,720.90	DATA FROM CASH FLOW STATEMENT
Shareholders' equity Other data of shareholders net equity	57,220,410.00 3,905,234.26	57,220,410.00 3,709,031.80	57,220,410.00 -10,329,417.26	57,220,410.00 -8,079,539.77	(Amounts are expressed in Euro)		THE GROUP	THE COMPANY
TOTAL EQUITY OF SHAREHOLDERS Minority interests	61,125,644.26 2,053,867.79	60,929,441.80 1,848,607.24	46,890,992.74 0.00	49,140,870.23 0.00	CASH FLOWS FROM OPERATING ACTIVITIES		01/01-30/06/2006 01/01-30/06/2005	01/01-30/06/2006 01/01-30/06/2005
TOTAL EQUITY TOTAL LIABILITIES & SHAREHOLDERS' EQUITY	63,179,512.05 224,026,589.04	62,778,049.04	46,890,992.74 217,559,039.60 192,666,887.47	49,140,870.23 184,881,591.13	Profits before taxes Plus / minus adjustments for :	15,443,603.78	12,729,624.03	8,760,418.55 0.00	6,953,006.63 0.00
					Depreciation of fixed assets Provisions	1,832,743.23 740,770.39	1,838,593.50 1,297,539.08	1,179,112.88 0.00	1,123,782.88 -1,360,190.53
DATA FROM THE STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD (Amounts are expressed in Euro)	THE GROUP		THE COMPANY 01/01-30/06/2006 01/01-30/06/2005 01/01-30/06/2006 01/01-30/06/2005		Foreign exchange differences Income from investment activities Interest and other related expenses	-324,612.82 -5,242,435.48 2,857,914.79	-25,994.01 -5,660,075.25 2,889,148.27	-366,488.96 -4,313,484.27 1,841,573.14	-20,621.57 2,146,985.72 2,479,401.16
					Credit interests
Total equity, beginning of the period (1.1.2006 and 1.1.2005 respectively) Profit / (loss) after tax for the period	62,778,049.04 11,282,071.47	36,637,084.56 9,935,999.53	49,140,870.23 6,800,913.43	30,180,873.23 5,744,421.48	Long term earnings
	74,060,120.51	46,573,084.09	55,941,783.66	35,925,294.71	Plus/minus adjustments for changes in working capital accounts or accounts related to operating activities:
Ιncrease / (decrease) of share capital Dividends paid	-4,959,102.20	0.00	-4,959,102.20	0.00	Decrease / (increase) in inventories Decrease / (increase) in receivables	-2,499,483.92 -9,188,901.01	-5,603,014.59 -6,670,114.42	-5,102,280.20 -13,206,032.78	-719,607.54 -6,906,064.96
Revaluation of fixed assets Net income transferred directly to equity	-5,921,506.26	469,533.01	-4,091,688.72	9,259,363.13	(Decrease) / increase in liabilities (other than to banks) Less :	3,657,154.74	5,051,336.07	6,915,474.28	7,048,838.26
Purchase of own shares Net equity, end of the period (30.06.2006 and 30.06.2005	0.00	0.00	0.00	0.00	Interest and other related expenses, paid	-2,528,510.96	-2,889,148.27	-1,512,169.31	-2,479,401.16
respectively)	63,179,512.05	47,042,617.10	46,890,992.74	45,184,657.84	Tax Paid	-2,625,416.27	-2,793,624.50	-1,910,666.57	-1,380,576.53
					Total inflows / (outflows) from operating activities (a)	2,122,826.47	164,269.91	-7,714,543.24	6,885,552.36
					CASH FLOWS FROM INVESTMENT ACTIVITIES
ADDITIONAL INFORMATION					Receipts of securities sales Acquisition of subsidiaries, associates, joint ventures and other investments	1,485,055.66	0.00	4,085,756.15	-9,231,858.28
1. The unaudited tax years for the company GR. SARANTIS A.B.E.E. are 2004 and 2005					Acquisition of tangible and intangible assets Revenues from sale of tangible and intangible assets	-833,272.85 16,289.81	-680,207.07 918,141.41	-486,951.20 11,880.34	-409,014.29 4,554,533.82
The unaudited tax years for the group are mentioned in the appendage.					Interest received Dividends received	931,135.77 895,135.50	621,548.12 0.00	6,534.42 1,864,854.64	161,218.34 0.00
2. No fixed charges have been registered on the property of the company.					Net inflows / (outflows) from investment activities (b)	2,494,343.89	859,482.46	5,482,074.35	-4,925,120.41
3. The intracompany transactions and the intracompany balances of GR. SARANTIS A.B.E.E. during the 2st semester of 2006 are:	INFLOWS	OUTFLOWS	RECEIVABLES	LIABILITIES	CASH FLOWS FROM FINANCIAL ACTIVITIES
GR. SARANTIS A.B.E.E. GR. SARANTIS A.B.E.E. GROUP	193,167.41 9,230,165.94	7,264,634.44 9,230,165.94	9,904,699.98 19,348,377.26	7,916,104.99 19,348,377.26	Proceeds from share capital increase Proceeds from loans granted / assumed	0.00 53,461,238.20	0.00 2,172,412.41	0.00 56,000,000.00	0.00 1,716,501.69
4. The number of the employees in the group and the company is:					Loan payments Payment of finance lease liabilities (payments of principal)	-52,500,000.00	-103,205.35 -132,025.26	-52,500,000.00	0.00 -66,012.63
	THE GROUP		THE COMPANY 01/01-30/06/2006 01/01-30/06/2005 01/01-30/06/2006 01/01-30/06/2005		Dividends paid	-4,949,755.70	-3,756,782.01	-4,949,755.70	-3,756,782.01
Salaried employees Wage employees	1,149 351	1,166 344	549 116	555 115	Net inflows / (outflows) from financial activities (c)	-3,988,517.50	-1,819,600.21	-1,449,755.70	-2,106,292.95
Total employees	1,500	1,510	665	670	Net increase / decrease in cash and cash equivalents for the period (a)+(b)+(c)	628,652.86	-795,847.84	-3,682,224.59	-145,861.00
	THE GROUP		THE COMPANY		Cash and cash equivalents, beginning of the period	9,899,595.56	7,005,034.80	4,635,456.79	2,893,094.00
5. Investment in fixed assets made in the first six months of 2006 6. The Financial Statements of the company have been posted in the internet address www.sarantis.gr and in the register maintained by the Ministry of Development,	833,272.85		486,951.20		Cash and cash equivalents, end of the period	10,528,248.42	6,209,186.96	953,232.20	2,747,233.00
Dept. of Anonymous Companies and Credit under number 13083/06/Β/86/27. The reader who seeks to acquire a full understanding of the financial position and the results of the company GR. SARANTIS A.B.E.E. should consult the Financial Statements of the Company.
					Marousi, 21/07/2006
THE PRESIDENT OF THE BOARD OF DIRECTORS THE VICE PRESIDENT & MANAGING DIRECTOR GRIGORIS P. SARANTIS KIRIAKOS P. SARANTIS I.D.No. Χ 080619/03 I.D.No. Ρ 539590/95			THE MANAGING DIRECTOR GEORGIOS A. KOLETSOS		THE FINANCIAL DIRECTOR KONSTANTINOS P. ROZAKEAS		THE MANAGER OF THE ACCOUNTING DPT. VASSILIOS D. MEINTANIS
			I.D. No. X 926090/03		I.D.No.Ρ 534498/94		I.D.No.Ξ 016419/86