Athens Medical C.S.A.

Quarterly Report • Sep 24, 2015

ATHENS MEDICAL CENTER S.A.

Reg. No 13782/06/B/86/06

5-7 Distomou Str, 15125 Maroussi FINANCIAL RESULTS FOR THE PERIOD 1 JANUARY 2008 UNTIL 30 SEPTEMBER 2008

According to the 6/448/11.10.2007 decision of the Capital Market's Board of Directors Commission

					COMPANY´S DETAILS
Company's web site: Date of Approval by the Board of Director's of Interim Financial Statements:	www.iatriko.gr 26 November 2008				Certified Auditor Accountant: Auditing Company: Auditor's review report:	Vrettos Gerasimou Georgios (SOEL Reg. N. 15651) BDO PROTYPOS HELLENIC AUDITING CO. A.E. Not required
	BALANCE SHEET (consolidated and non consolidated) amounts in thous €				CASH FLOW STATEMENT (consolidated and non consolidated) amounts in thous €
ASSETS	GROUP 30/9/2008	31/12/2007	30/9/2008	PARENT 31/12/2007	Indirect method	1/1-30/9/2008	GROUP 1/1-30/9/2007	PARENT 1/1-30/9/2008	1/1-30/9/2007
Property, plant and equipment Investment property Intangible assets	281.099 0 2.331	284.119 0 2.319	254.859 0 324	259.217 0 312	Operating Activities : Profit Before Taxes (continued operations) Plus/Less Adjustments for :	13.559	18.241	13.039	18.739
Other non current assets Inventory Receivables (trade debtors)	5.190 7.066 138.775	5.825 6.789 133.545	39.674 6.458 138.040	40.305 6.432 132.859	Depreciation Provisions Exchange Differences	8.753 1.953 -1	8.187 1.664 15	8.292 1.746 0	7.849 1.652 0
Other current assets TOTAL ASSETS EQUITY AND LIABILITIES Share capital	50.341 484.802 ========= 26.888	58.906 491.503 ========= 26.888	49.730 489.085 ========= 26.888	50.383 489.508 ========= 26.888	Results (revenues, expenses, gain and losses) from Investing Activities Interest Expenses and Related costs Plus/Less Adjustments for Changes in	-2.371 9.070	-1.974 7.042	-5.602 8.765	-6.064 6.777
Other components of equity Total Shareholder Equity (a) Non controlling interests (b) Total Shareholder Equity (c) = (a)+(b)	148.664 175.552 −−−−−−−−− 218 175.770	140.401 167.289 −−−−−−−−− 398 167.687	156.256 183.144 −−−−−−−−− 0 183.144	148.003 174.891 −−−−−−−−− 0 174.891	Working Capital or Related to Operating Activities : Decrease / Increase in Inventories Decrease / Increase in Receivables	-277 -8.303	-772 -19.484	-26 -9.607	-731 -20.114
Long term borrowings Long term provisions / Non current liabilities Short Term borrowings	−−−−−−−−− 150.269 38.530 6.036	−−−−−−−−− 157.037 42.818 11.232	−−−−−−−−− 149.953 35.740 655	−−−−−−−−− 156.972 39.221 5.936	Decrease/Increase in Liabilities (except for banks) Less : Interest charges and Related Expenses Paid	-1.293 -8.208	8.243 -7.042	5.103 -7.903	7.158 -6.777
Other current liabilities Total Liabilities (d) TOTAL EQUITY AND LIABILITIES (c)+(d)	114.197 −−−−−−−−− 309.032 ========= 484.802 =========	112.729 −−−−−−−−− 323.816 ========= 491.503 =========	119.593 −−−−−−−−− 305.941 ========= 489.085 =========	112.488 −−−−−−−−− 314.617 ========= 489.508 =========	Paid Taxes Total Inflows / Outflows from Operating Activities (a) Investing Activities Acquisition of subsidiaries, associates, joint ventures	-3.389 9.493 −−−−−−−−	-6.052 8.068 −−−−−−−−	-2.812 10.995 −−−−−−−−−	-4.561 3.928 −−−−−−−−−
					and other investments Purchase of tangible and intangible fixed assets Cash collection from the Sale of Tangible and Intangible fixed assets	-30 -5.781 8	0 -7.637 11	-30 -3.951 8	0 -7.288 27
STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD (consolidated and non consolidated) amounts in thous €					Income from interest	741	71	692	63
Total equity beginning period	GROUP 30/9/2008	30/9/2007	30/9/2008	PARENT 30/9/2007	Income from Dividend Total Inflows / Outflows from Investing Activities (b) Financing Activities	96 -4.966 −−−−−−−−	91 -7.464 −−−−−−−−	3.300 19 −−−−−−−−−	4.300 -2.898 −−−−−−−−−
(1/1/2008 and 1/1/2007 accordingly) After tax profit / (loss) for the period (continued and discontinued operations)	167.687 13.422	152.984 12.732	174.891 13.457	158.864 14.254	Proceeds from Share Capital Increase Proceeds from Dept Dept Repayment Payments of Financial Leasing (Capital installment)	0 335 -11.716 -584	5.363 140.019 -134.445 -1.610	0 0 -11.716 -584	5.363 139.506 -134.324 -1.610
Increase / (Decrease) of Share Capital Dividend Distributed Net Income Recorded Directly in Equity Buying / (Selling) of own shares	0 -5.338 -1	5.363 -5.676 -11	0 -5.204	5.363 -5.205	Dividend Paid Total Inflows / Outflows from Financing Activities © Net Increase/Decrease in Cash and Cash Equivalents	-5.328 -17.293 −−−−−−−−	-5.650 3.677 −−−−−−−−	-5.194 -17.494 −−−−−−−−−	-5.177 3.758 −−−−−−−−−
Total equity ending period (30/9/2008 and 30/9/2007 accordingly)	175.770 =========	165.392 =========	183.144 =========	173.276 =========	for the Period (a)+(b)+© Cash and Cash Equivalents (beginning) Cash and Cash Equivalents (period end)	-12.766 ======== 27.236 ======== 14.470 ========	4.281 ======== 8.814 ======== 13.095 ========	-6.480 ========= 18.580 ========= 12.100 =========	4.788 ========= 6.224 ========= 11.012 =========
					INCOME STATEMENT FOR THE PERIOD (consolidated and non consolidated) amounts in thous €
Turnover Gross Profit Profit before Taxes, Financing and	1/1-30/9/07 210.495 41.941	GROUP 1/1-30/9/06 206.974 44.746	1/7-30/9/07 62.417 9.215	1/7-30/9/06 56.750 9.622	PARENT 1/1-30/9/07 1/1-30/9/06 205.458 202.522 35.278 38.372	1/7-30/9/07 60.771 7.057	1/7-30/9/06 55.304 7.807
Investing Activity Profit before Taxes Profit after Taxes	20.258 13.559 13.422	23.309 18.241 12.732	2.155 7 3.526	2.896 728 556	16.202 19.452 13.039 18.739 13.457 14.254	749 -1.414 1.972	1.804 -383 -295
Attributable to : Shareholders Non controlling interests Earnings (After Taxes) Per Share - in €	13.468 -46 0,1553	12.659 73 0,1483	3.551 -25 0,0410	563 -7 0,0054	13.457 14.254 0,1551 0,1670	1.972 0,0227	-295 -0,0049
Profit before Taxes, Financing and Investing Activity and depreciation	29.011	31.496	5.113	5.592	24.494 27.301	3.537	4.387
					ADDITIONAL INFORMATION
Group Structure Companies	Residence	Participation %	Consolidation	Unaudited Years	3. There are no legal disputes that could have a significant effect on the company's and the group's financial structure 4. The total number of employees for the first nine months of 2008 was: Group 3.168 (2.952 first nine months of 2007) and Parent Co 2.986 (2.799 first nine months of 2007) respectively.
ATHENS MEDICAL CENTER SA IATRIKI TECHNIKI SA AKSONIKI EREVNA SA EREVNA SA PHYSIOTHERAPY CENTER SA HOSPITAL AFFILIATES INTERNATIONAL SA MEDSANA BMC BIOAXIS SRL (former MEDSANA SRL)	Maroussi Attica Kiffisia Attica Maroussi Attica Maroussi Attica Maroussi Attica Kifissia Attica Bucharest Romania Bucharest Romania	Parent Co 100,00 50,50 51,00 33,00 68,89 100,00 78,90	Method TOTAL TOTAL TOTAL TOTAL TOTAL TOTAL TOTAL	2007 2007 2007-2008 2007-2008 2007 2001-2007 1997-2007 1997-2007	5. Profit per share was calculated using the average weighted number of total shares issued. 6. Disclosures of transactions with related parties of Group and Company as defined in IAS 24: a) Revenues b) Expenses c) Debtors d) Liabilities e) Transactions and compensations of executives and members of the Board f) Debtors from executives and members of the Board g) Liabilities to executives and members of the Board		GROUP 2.082 349 3.792 533 5.647 0 202	PARENT 5.455 17.719 8.057 25.269 4.875 0 200

The following results and information, that arise from the financial statements, 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 or other transaction with the issuer, to gain access to the company's web site, where the financial statements can be downloaded, as well as the Auditor's review report when this is required.

www.gnn.com.gr

ORTELIA HOLDING Lemessos Cyprus 99,99 TOTAL 1998-2007

EUROSITE SA	Maroussi Attica	100,00	TOTAL	2003-2007			GROUP PARENT
MEDICAFE SA	Thessaloniki	55,00	EQUITY METHOD	2003-2007	a) Legal disputes		208 0
INTEROPTICS SA	Athens	27,33	EQUITY METHOD	2005-2007	b) Tax unaudited years		790 700
É.Å.EUROHOSPITAL SA	Athens	50,00	EQUITY METHOD	--	c) Other provisions		0 0
8. The amounts of revenues / expenses recorded directly in Group's equity for periods 1/1-30/9/2008 € -1 thous. and 1/1-30/9/2008 € -11 thous. refer to exchange differences. 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 9. A detailed report to Group's structure is found in paragraphs 2, 4 "Principal accounting policies" as well as in paragraphs 15 and 16 method of consolidation relative to that used in the financial statements of the respective period of previous year 2007 or the annual financial of the financial statements statements of previous year 2007 with the exemption of company É.Å.EUROHOSPITAL SA. É.Å.EUROHOSPITAL SA was formed in the a' 10. The profit before taxes, financing, investing activity and the profit before taxes, financing, investing activity and depreciation of the semester of 2008 and was included in the consolidation of Athens Medical Center SA with the equity method. The effect due to the respective period of 2007, for the Company and Group have been reformed according to decision 34/24.1.2008 of the Capital Market's consolidation of É.Å.EUROHOSPITAL SA in the Group's consolidated figures is of no importance. Board of Director's Commission, Relative report is found in paragraph 4 "Principal accounting policies" note (bd) 2. There are no pledges against the company's assets and Group's assets. 11. The accounting policies applied for these Financial Statements are consistent with those applied for the Financial Statements at 31.12.2007
Maroussi, 26 Íovember 2008
The President of the BOD Georgios V.Apostolopoulos ID No. Ó 100951		The CEO Vassilios G.Apostolopoulos ID No. Î 350622			The Group CFO Antonios H. Aggelopoulos ID No. X 143924	The Parent CFO Petros D.Adamopoulos ID No. AZ 533419	The Chief Accountant Panagiotis X.Katsihtis ID No. AB 052569

7. The amounts of formed provisions are the following: