Attica Holdings S.A.

Annual / Quarterly Financial Statement • Sep 23, 2015

NOTES :

			COMPANY INFORMATION							CASH FLOW STATEMENT
Internet Domain:	www.attica-group.com									GROUP		COMPANY
Date of Board of Directors approval of interim											1.01-30.09.2009 1.01-30.09.2008	1.01-30.09.2009 1.01-30.09.2008
financial statements:	November 23,2009								Cash flow from Operating Activities
Certified Public Accountant:				Constantinou Sotiris - SOEL No 13671, Michalios Manolis - SOEL No 25131					Profit/(Loss) Before Taxes	2.577	32.223	42.451	17.080
Audit Firm:	Grant Thornton S.A.								Adjustments for:
Type of certified auditor's review report:	Unaudited								Depreciation	20.907	19.346	56	10
			BALANCE SHEET						Impairment of tangible and intangible assets	-	-	-	-
		GROUP				COMPANY			Provisions	1.645	214	11	17
ASSETS		30.09.2009	31.12.2008			30.09.2009	31.12.2008		Foreign exchange differences	-41	-1.389	190	-534
Tangible assets		752.101	744.720			190	227		Net (profit)/loss from investing activities	2.906	-17.182	-43.887	-17.971
Investment properties		-	-			-	-		Interest payable and other financial expenses	12.297	17.042	20	4
Intangible assets		1.613	1.798			128	147		Plus or minus for Working Capital changes:
Other non current assets		1.667	1.644			575.816	517.130		Decrease/(increase) in Inventories	-765	-38	-	-
Inventories		4.477	3.712			-	-		Decrease/(increase) in Receivables	-22.015	-14.458	559	-277
Trade receivables and prepayments		73.283	55.973			-	-		(Decrease)/increase in Payables (excluding banks)	9.987	2.569	-2.435	-366
Other current assets		104.455	138.708			19.156	52.774		Less:
Non current assets classified as held for sale		-	-			-	-		Interest and other financial expenses paid	-11.886	-17.763	-3	-9
Total assets		937.596	946.555			595.290	570.278		Taxes paid	-75	-106	-5	-
									Operating cash flows of discontinued operations	-	-	-	-
EQUITY AND LIABILITIES									Total cash inflow/(outflow) from operating activities (a)	15.537	20.458	-3.043	-2.046
Share capital		117.539	117.539			117.539	117.539
Other equity		383.414	385.293			434.845	418.456		Cash flow from Investing Activities
Total shareholders equity (a)		500.953	502.832			552.384	535.995		Acquisition of subsidiaries, associated companies, joint
Minority interests (b)						-	-		ventures and other investments	-	-	-106.535	-35.060
Total equity (c)=(a)+(b)		500.953	502.832			552.384	535.995		Purchase of tangible and intangible assets	-28.103	-4.321	-	-66
Long-term borrowings		330.308	356.439			-	-		Proceeds from sale of tangible and intangible assets	-	52.475	-	-
Provisions / Other long-term liabilities		2.576	5.098			498	2.371		Derivatives' result	-	-	-	-
Short-term debt		47.109	39.130			8.000	-		Interest received	1.279	4.881	625	2.447
Other short-term liabilities		56.650	43.056			34.408	31.912		Dividends received	-	-	45.292	15.239
Liabilities associated with non current									Investing cash flows of discontinued operations	-	-	-	-
assets classified as held for sale		-	-			-	-		Total cash inflow/(outflow) from investing activities (b)	-26.824	53.035	-60.618	-17.440
Total liabilities (d)		436.642	443.723			42.906	34.283
									Cash flow from Financing Activities
Total equity and liabilities (c)+(d)		937.596	946.555			595.290	570.278		Proceeds from issuance of Share Capital	-	-	-	-
									Proceeds from Borrowings	8.000	-	8.000	-
									Proceeds from subsidiaries	-	-	32.704	-
			INCOME STATEMENT FOR THE PERIOD						Payments of Borrowings	-25.356	-61.242	-
		GROUP				COMPANY			Payments of finance lease liabilities	-360	-191	-	-
							1.01-30.09.2009 1.01-30.09.2008 1.07-30.09.2009 1.07-30.09.2008 1.01-30.09.2009 1.01-30.09.2008 1.07-30.09.2009 1.07-30.09.2008 Dividends paid			-9.913	-13.173	-9.913	-8.334
Revenue	246.266	267.508	106.341	111.029	-	-	-		- Financing cash flows of discontinued operations	-	-	-	-
Gross Profit/(loss)	62.969	72.472	36.213	37.678	-	-	-		- Total cash inflow/(outflow) from financing activities (c)	-27.629	-74.606	30.791	-8.334
Earnings before taxes, investing and financial									-472 Net increase/(decrease) in cash and cash equivalents
results	18.351	30.948	18.620	21.664	-1.111	-1.416	-366		(a)+(b)+(c)	-38.916	-1.113	-32.870	-27.820
Profit/(loss) before taxes	2.577	32.223	13.532	22.482	42.451	17.080	8.476		1.910 Cash and cash equivalents at beginning of period	119.124	171.873	51.429	76.878
									Exchange differences in cash and cash equivalents	-18	1.329	-189	534
									1.910 Cash and cash equivalents at end of period	80.190	172.089	18.370	49.592
Profit/(loss) after taxes (A)	2.166	32.054	13.521	22.433	42.201	17.080	8.476
Owners of the parent	2.166	21.565	13.521	16.056	42.201	17.080	8.476	1.910
Minority shareholders	-	10.489	-	6.377	-	-	-	-		STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD
Other comprehensive income after tax (B)	5.868	-1.434	1.369	254	-15.899	-66.606	-454	-11.272		GROUP		COMPANY
										30.09.2009	30.09.2008	30.09.2009	30.09.2008
Total comprehensive income for the period	8.034	30.620	14.890	22.687	26.302	-49.526	8.022
after tax (A)+(B)									-9.362 Equity Opening Balance (01.01.2009 and 01.01.2008)	502.832	506.145	535.995	473.086
Owners of the parent	8.034	20.327	14.890	16.059	26.302	-49.526	8.022		-9.362 Total comprehensive income for the period after tax	8.034	30.620	26.302	-49.526
Minority shareholders	-	10.293	-	6.628	-	-	-		- Increase/(decrease) of share capital	-	-	-	-
Earnings after taxes Per Share - basic (in €)	0,0153	0,2070	0,0955	0,1541	0,2980	0,1640	0,0599		0,0183 Dividends paid	-9.913	-13.173	-9.913	-8.334
Earnings before taxes, investing and									Purchase/(Sale) of treasury stock	-	-	-	-
financial results, depreciation and amortization	39.258	50.294	25.613	28.084	-1.055	-1.406	-347		-469 Equity Closing Balance (30.09.2009 and 30.09.2008)	500.953	523.592	552.384	415.226

either in the previous period or in the same period of the fiscal year 2008. The exception to the above are the companies Superfast Ferries Maritime S.A. and Blue Star Maritime S.A., which were merged through the absorption by the parent company. Also, there are no companies of the Group which have not been consolidated in the consolidated financial statements. 2. All the companies included in the consolidation of Attica Group had already made a tax provision of € 178 thousand. Relevant analysis for the unaudited fiscal years can be found in notes 6.1 and 3 of the of the interim financial statements. A tax provision for the parent company has not been made.

THE PRESIDENT OF THE B.O.D.	THE MANAGING DIRECTOR	Athens, November 20, 2009	THE DIRECTOR	THE FINANCIAL DIRECTOR
CHARALAMPOS PASCHALIS	PETROS VETTAS		SPIROS PASCHALIS	NIKOLAOS TAPIRIS

1. The companies with their corresponding registration, the percentages of participation and their method of consolidation in the Financial Statements of 30.09.2009, can be found in note 3 of the interim financial statements.

5. The vessels owned by the Group have been mortgaged as security of long term borrowings for the amount of Euro 723.060 thousand. There are no liens and encumbrances for the Company.

10. There are no shares of the parent company owned by Attica Holdings S.A. and the subsidiaries at the end of the present period.

11. For the Group, "Total comprehensive income for the period after tax" amounting € 8.034 thousand refer to the Group's revenue, € 2.166 thousand, to the interest rate cash flow hedging of the Group's loans, € 5.863 thousand and to the exchange differences on translating foreign operations, € 5 thousand. For the company "Total comprehensive income for the period after tax" amounting 26.302 thousand refer to the company's revenue, € 42.201 thousand, to the measurement of investments in subsidiaries using the fair value method, - € 15.144 thousand and to the interest rate cash flow hedging, - € 755 thousand.

(Amounts in thousand €) 7. Amounts concerning sales and purchases, cumulatively, from the beginning of the current period and the outstanding balances of receivables and payables of the parent Company and the Group at the end of the current period, arising from transactions with related parties in accordance with IAS 24, are as follows:

	Group	Company
a) Revenue	6.179	45.292
b) Expenses	820	1
c) Receivables	810
d) Payables	462	29.405
e) Transactions and Board of Directors and Executive Directors' Fees	2.192	207
f) Receivables from Board of Directors and Executive Directors	-	-
g) Payables to Board of Directors and Executive Directors	-	-

12. The Group agreed with Daewoo Shipbuilding and Marine Engineering Co. Ltd. (DSME), Korea for the building of two new fast car-passenger ferries at a price of Euro 68.50mln a piece. In July 2009 the Group paid the amount of € 25,8 mln. as a prepayment for the building of the above vessels. The agreement consideration is in USD. In June and September 2009 the Group has made exchange forward agreements purchasing in USD. As a result, the Group's exposure to foreign currency risk has been limited to 10% of the total cost of the two vessels.

14. Attica Ferries Maritime Company is the new owner of the vessel Superfast XII which was acquired from Attica's wholly owned subsidiary Superfast Dodeka Inc at book value. The car-passenger ferry Superfast XII was redeployed from the Patras - Ancona route to the Piraeus - Heraklion route. The above vessel commenced its service on the route on 12th March, 2009.

ATTICA HOLDINGS S.A. 123-125, Syngrou Avenue & 3, Torva Street - 11745 Athens, Greece Registration Number: 7702/06/B/86/128

13. The parent company participated in the share capital increase of its 100% subsidiaries Blue Star M.C. and Blue Star Ferries M.C. with the amount of Euro 13,30 mln. and Euro 13,25 mln. respectively.

15. In October 2009 has been delivered by the Group the new-built Ro-Pax vessel Superfast II from Grimaldi Holding S.p.A, of Genoa, Italy. Superfast II commenced its service on the route on 6th October, 2009.

9. The financial statements of Attica Holdings S.A. are included, directly, in the consolidated financial statements of MARFIN INVESTMENT GROUP HOLDINGS S.A. which is registered in Greece and whose total participation in the company (directly & indirectly), was 87,5%.

8. There are no any overdue liabilities, or liabilities that are about to become due, that cannot be paid.

and Possible Assets" for the Company and the Group. 6. There are no legal or arbitration cases pending which could have a significant effect on the financial position or operation of the parent company. The Group has made a provision amounting € 462 thousand which concerns claim for compensation from the crew that was employed on board the sold vessels previously deployed in the Baltic Sea. The case is under litigation. Furthermore, the Company and the Group have made a retirement benefit provision amounting € 93 thousand and € 1.596 thousand respectively. There are no provisions according to paragraphs 10,11 and 14 of the IAS 37article "Provisions, Possible Liabilities

3. The accounting principles are the same as those used on 31/12/2008.

4. The number of employees, at period end, was 6 for the parent company and 1.396 for the Group, while at 30/09/2008 was 6 and 1.425 respectively.

For all the companies of the Group, there are no changes of the method of consolidation. The 100% subsidiaries ATTICA FERRIES M.C. and ATTICA FERRIES M.C. & CO JOINT VENTURE are consolidating for the first time the first quarter of 2009 while the 100% subsidiaries BLUE STAR M.C. and BLUE STAR FERRIES M.C. are consolidating for the first time the second quarter of 2009. There are not companies which have not been consolidated in the present period while they have been consolidated

Information for the period from January 1 to September 30, 2009 (According to the decision 4/507/28.04.2009 of the Board of Directors of the Greek Capital Market Committee)

The following information provide a general overview of the financial position and financial results of ATTICA HOLDINGS S.A.

We advise readers, who wish to find a complete set of the interim financial statements as well as the relevant certified auditor's report whenever it is required, to navigate at the domain of the company. (Amounts in thousand €)