Athens Medical C.S.A.

Quarterly Report • Oct 5, 2015

ATHENS MEDICAL CENTER SA

13782/06/B/86/06 5-7 Distomou Str, 15125 Maroussi

FINANCIAL RESULTS FOR THE PERIOD 1/1/2007-31/3/2007

According to the 2/396/31.8.2006 decision of the Capital Market's Board of Directors Committee

The following results and information provide a general picture of the financial position and financial results of the Athens Medical Center S.A.. Thus we suggest the reader, before entering into any sort of investment decision and transaction with the company, to gain access to the company's web site, where the results can be downloaded under IFRS, as well as the Auditor's Certificate when this is required.

COMPANY´S DETAILS
Company's web site:		www.iatriko.gr			COMPANY'S BOARD OF DIRECTORS
Date of Approval by the					Name Position
Board of Directors´ of Financial Statements:	25/5/2007				George V. Apostolopoulos President Vassilis G. Apostolopoulos CEO
					Christos G. Apostolopoulos		Vice President A
					Damianos Hadjikokkinos		Vice President B
					Sotiris Raptis Grigorios Skalkeas		Member Member
BALANCE SHEET (consolidated and non consolidated) amounts in thous €						CASH FLOW STATEMENT (consolidated and non consolidated) amounts in thous €
ASSETS	GROUP 31/3/2007	31/12/2006	31/3/2007	PARENT 31/12/2006	Indirect method	GROUP		PARENT
Fixed Assets	292.509	292.714	299.852	300.099	Operating activities:	31/3/2007	31/3/2006	31/3/2007	31/3/2006
Inventory	5.310	5.391	5.006	5.088	Profit Before Taxes	11.235	8.705	10.465	7.594
Receivables (trade debtors) Other Assets	119.216 48.346	108.708 38.308	118.581 47.023	108.064 35.088	Plus/Less Adjustments for :
Total Assets	−−−−−−−−−− 465.381	−−−−−−−−−− 445.121	−−−−−−−−−− 470.462	−−−−−−−−−− 448.339	Depreciation Provisions	2.733 456	2.811 662	2.633 454	2.715 423
LIABILITIES	==========	==========	==========	==========	Exchange Differences	-2	-36	0	0
Long Term Liabilities Short Term Bank Liabilities	78.906 109.748	78.811 108.114	74.813 104.426	74.682 103.288	Results (revenue, expenses, gain and losses) from
Other Short Term Liabilities	115.929	105.212	124.706	111.505	Investing Activities Interest Expenses and Related costs	-650 2.033	317 1.158	-1.590 1.960	-679 1.142
Total Liabilities (a)	−−−−−−−−−− 304.583 ==========	−−−−−−−−−− 292.137 ==========	−−−−−−−−−− 303.945 ==========	−−−−−−−−−− 289.475 ==========	Plus/Less Adjustments for Changes in
Shareholder Equity (b) Minority Rights (c)	160.145 653	152.173 811	166.517 0	158.864 0	Working Capital or Related to Operating
Total Shareholder Equity (d) = (b)+ (c)	−−−−−−−−−− 160.798 ==========	−−−−−−−−−− 152.984 ==========	−−−−−−−−−− 166.517 ==========	−−−−−−−−−− 158.864 ==========	Activities : Decrease / Increase in Inventories	80	315	83	131
Total Capital & Liabilities (e)= (a)+(d)	465.381 ==========	445.121 ==========	470.462 ==========	448.339 ==========	Decrease / Increase in Receivables	-20.066	-16.498	-20.090	-16.847
					Decrease/Increase in Liabilities (except for banks) Less :	9.353	4.817	12.227	7.888
					Interest charges and Related Expenses Paid	-2.033	-1.158	-1.960	-1.142
					Paid Taxes	-1.295	-724	-1.270	-724
STATEMENT OF CHANGES IN EQUITY (consolidated and non consolidated) amounts in thous €					Total Inflows / Outflows from Operating Activities (a)	1.844	369	2.912	501
	Investing Activities	−−−−−−−−	−−−−−−−−	−−−−−−−−	−−−−−−−−
	GROUP 31/3/2007	31/3/2006	31/3/2007	PARENT 31/3/2006	Acquisition of subsidiaries, associates, joint ventures
Total equity beginning period					and other investments Purchase of Tangible and Intangible Fixed Assets	0 -2.625	0 -1.197	0 -2.530	0 -1.456
(1/1/2007 and 1/1/2006 accordingly) After tax profit / (loss) for the period	152.984 8.012	163.245 6.127	158.864 7.653	148.102 5.588	Earnings from the Sale of Tangible and Intangible
Increase / (Decrease) in Share Capital	0	0	0	0	Assets	16	0	7	0
Dividend Distributed	-201	-56	0	0	Income from interest Income from Dividend	12 0	5 0	10 0	0 0
Net Income Recorded Directly in Equity	3	27	0	0	Total Inflows / Outflows from
Buying / (Selling) of own shares	0	0	0	0	Investing Activities (b)	-2.597 −−−−−−−−	-1.192 −−−−−−−−	-2.513 −−−−−−−−	-1.456 −−−−−−−−−
Total equity ending period	−−−−−−−−−	−−−−−−−−−	−−−−−−−−	−−−−−−−−−	Financing Activities Proceeds from Share Capital Increase	0	0	0	0
(31/3/2007 and 31/3/2006 accordingly)	160.798 =========	169.343 =========	166.517 ========	153.690 =========	Proceeds from Dept	2.268	2.784	1.764	2.746
					Dept Repayment Payments of Financial Leasing	-44	-597	0	-541 0
					(Capital installment)	-814	-1.074	-814	-1.071
					Dividend Paid	-202	-56	-2	0
					Total Inflows / Outflows from Financing Activities (c)	1.208	1.057	948	1.134
					Net Increase/Decrease in Cash and Cash Equivalents
					for the Period (a)+(b)+(c)	455 ========	234 ========	1.347 ========	179 =========
					Cash and Cash Equivalents (beginning) Cash and Cash Equivalents (period end)	8.814 −−−−−−−− 9.269	7.576 −−−−−−−− 7.810	6.224 −−−−−−−− 7.571	6.089 −−−−−−−−− 6.268
						========	========	========	=========
INCOME STATEMENT FOR THE PERIOD (consolidated and non consolidated) amounts in thous €
	1/1-31/3/07	GROUP	1/1-31/3/06		PARENT 1/1-31/3/07	1/1-31/3/06
Turnover	77.994		65.452		76.414	64.294
Gross Profit Profit before Taxes, Financing and	19.130		15.035		16.737	12.660
Investing Activity and depreciation	15.925		12.690		14.031	10.898
Profit before Taxes, Financing and Investing Activity	13.193		9.878		11.399	8.183
Profit before Taxes	11.235		8.705		10.465	7.594
Less : Taxes Profit after Taxes and continued operations (a)	-3.223 8.012		-2.578 6.127		-2.812 7.653	-2.006 5.588
Profit after Taxes and discontinued operations (b) Profit after Taxes	0		0		0	0
(continued and discontinued operations) (a) + (b)	8.012		6.127		7.653	5.588
Attributable to :
Shareholders	7.970		5.722		7.653	5.588
Minority Rights Earnings (After Tax) Per Share - in €	42 0,09		405 0,07		0,09	0,07
					ADDITIONAL INFORMATION
Group Structure					6.Disclosures of transactions with related parties of Group and Company as defined in IAS 24:
Companies	Seat	Participation % Consolidation	Method	Unaudited Years			GROUP	PARENT
ATHENS MEDICAL CENTER SA	Maroussi Attica	Parent Co		2005-2006	a) Sales of goods and services b) Purchases of goods and services		422 87	422 6.379
IATRIKI TECHNIKI SA AKSONIKI EREVNA SA	Kiffisia Attica Maroussi Attica	100,00 50,50	TOTAL TOTAL	2003-2006 2006	c) Debtors		1.711	5.739
EREVNA SA	Maroussi Attica	51,00	TOTAL	2006	d) Liabilities e) Transactions and compensations of executives		2.221	31.882
PHYSIOTHERAPY CENTER SA HOSPITAL AFFILIATES INTERNATIONAL SA	Maroussi Attica Kifisia Attica	33,00 68,89	TOTAL TOTAL	2003-2006 2001-2006	and members of the Board		1.284	1.028
MEDSANA BMC	Bucharest Romania	100,00	TOTAL	1997-2006	7.According to the 8/12/2006 decision of the A' Repeated Extraordinary General Assembly of Stockholders, the company's Share Capital was increased with cash deposit and abolish the old Stockholders' preference premium and 2.750.000 new shares where issued of nominal value 0,31
MEDSANA SRL ORTELIA HOLDING	Bucharest Romania Lemessos Cyprus	78,90 99,99	TOTAL TOTAL	1997-2006 1998-2006	euro each and disposal value of 1,95 euro each in favour of doctor cooperatives of the company. The above mentioned increase was approved by
EUROSITE SA	Maroussi Attica	100,00	TOTAL	2003-2006	the K2-1206/30-1-2007 decision of Ministry of Development and after the procedure was concluded, the shares where listed for negotiation in the
MEDICAFE SA	Thessaloniki		55,00 EQUITY METHOD	2003-2006	Stock Market at 17/5/2007 and are entitled to year's 2006 divided.
INTEROPTICS SA	Athens		27,33 EQUITY METHOD	2005-2006
1.All companies in the Group are those described in the above table titled "Group Structure". There is no deviation in the Companies and the method of consolidation relative to that used in the interim financial results during 2006 apart from INTEROPTICS SA which was included in
the consolidation using the equity method in 31/12/2006. 2. There are no pledges against the company's assets and Group's assets.
3. There are no legal disputes that could have a significant effect on the company's and the group's financial structure
4. The number of employees for the first quarter of 2007 is : Group 2.911 and Parent Co 2.757.
GNN 210/8222848 5. Profit per share was calculated using the average weighted number of total shares issued. Maroussi, 25 May 2007
Georgios V.Apostolopoulos	The President of the BOD The CEO Vassilios G.Apostolopoulos				The Group CFO The Parent CFO Nikolaos H.Katsibrakis Petros D.Adamopoulos			The Chief Accountant Panagiotis X.Katsichtis
ID No. Ó 100951		ID No. Î 350622			ID No. AB 253885 ID No. M 253394			ID No. AB 052569