ASSA ABLOY

Annual / Quarterly Financial Statement • Sep 23, 2015

AS COMPANY S.A. COMMERCIAL INDUSTRIAL COMPUTER & TOY COMPANY FINANCIAL STATEMENTS INFORMATION January 1st ended in June 30th 2009 Company's Number in the Register of Societes Anonymes 22949/06/Β/90/107 Headquarters: Municipality of Oraiokastro County of Thessaloniki Published according to law 4/507/28.04.2009 of the B.O.D. of the Capital Markets Copmmittee The figures presented below provide information about the financial position of AS Company S.A. and AS Company Group.

The reader is reccommended, before entering into any investment activity

with the company to access the Company's web site, where the annual financial statements

and Certified Auditors Accountant Audit Report are posted.

Company's web site : www.ascompany.gr Approval date from the B.O.D. for annual financial statements :August 24th 2009

Certified Auditor Accountant : Evaggelos Ν. Pagonis - L.C./ Accociation of Certified Auditors 14211

Auditing Association & Certified Auditing Firm : BAKER TILLY HELLAS ΑΕ - L.C./ Accociation of Certified Auditors Ε 148 Type of Review Opinion : Unqualified

1.1 BALANCE SHEET Amounts expressed in €	GROUP		COMPANY		1.2a STATEMENT OF COMPREHENSIVE INCOME Amounts expressed in €	GROUP		COMPANY
ASSETS	30.06.2009	31.12.2008	30.06.2009	31.12.2008		1.1 to	1.1 to	1.1 to	1.1 to
						30.06.2009	30.06.2008	30.06.2009	30.06.2008
Tangible fixed assets	8.271.353,44	8.424.386,94	7.886.035,78	7.976.435,37
Intangible fixed assets	27.088,23	27.841,24	2.493,15	0,00	Sales Turnover	13.001.450,32	12.095.433,28	12.233.156,00	12.016.734,91
Other non-current assets	429.909,68	438.670,84	655.452,05	716.048,05	Gross profit / (loss)	7.161.034,69	7.153.518,60	6.839.210,74	7.105.526,01
Inventories	7.552.413,49	6.989.276,01	7.279.606,59	6.691.907,29	Profit/(loss) before tax, interest,
Trade debtors	16.746.782,59	15.075.360,54	16.498.485,49	14.780.919,60	investing results	2.651.842,69	3.039.821,71	2.800.832,63	3.160.721,16
Other current assets	2.766.255,01	1.937.741,07	2.389.321,28	1.198.916,28	Profit/(loss) before tax	2.506.211,56	2.857.498,59	2.665.576,65	2.977.981,20
TOTAL ASSETS	35.793.802,44	32.893.276,64	34.711.394,34	31.364.226,59	Profit/(loss) after tax (Α)	1.812.479,41	2.149.271,03	1.934.575,65	2.232.974,58
					- Owners of the parent	1.812.479,41	2.149.271,03	1.934.575,65	2.232.974,58
SHAREHOLDERS' EQUITY AND LIABILITIES					- Minority Shareholders'	0,00	0,00	0,00	0,00
Paid up share capital	8.313.146,00	8.313.146,00	8.313.146,00	8.313.146,00	Other Profit/(loss) after tax (Β)	0,00	0,00	0,00	0,00
Other shareholders' equity	9.706.003,14	9.615.578,43	9.968.465,22	9.784.025,57	Total Profit
Total Shareholder's Equity (a) ota S a e o de s qu ty	18.019.149,14 8 0 9 9,	17.928.724,43 98 ,3	18.281.611,22 886 ,	18.097.171,57 8 09 ,5	after tax (Α) + (Β) a te ta )	1.812.479,41 8 9,	2.149.271,03 9 ,03	1.934.575,65 93 5 5,65	2.232.974,58 3 9 ,58
					- Owners of the parent	1.812.479,41	2.149.271,03	1.934.575,65	2.232.974,58
Minority Rights (b)	0,00	0,00	0,00	0,00	-Minority Shareholders'	0,00	0,00	0,00	0,00
Total Equity (c) = (a) + (b)	18.019.149,14	17.928.724,43	18.281.611,22	18.097.171,57
					Profit after tax per share in (€)	0,0828	0,0982	0,0884	0,1021
Long term liabilities	6.332.000,00	4.332.000,00	5.332.000,00	3.332.000,00	Profit/(loss) before tax, interest,
Provisions / Other long term liabilities	1.497.373,10	793.105,34	1.487.560,90	785.933,90	investing results and depreciation	2.876.348,73	3.303.039,83	3.004.437,75	3.415.483,47
Short term borrowing liabilities	1.457.045,17	2.135.624,16	1.457.045,17	2.126.475,62
Other short term liabilities	8.488.235,03	7.703.822,71	8.153.177,05	7.022.645,50
Total liabilities (d)	17.774.653,30	14.964.552,21	16.429.783,12	13.267.055,02	1.2 b STATEMENT OF COMPREHENSIVE INCOME
					Amounts expressed in €
TOTAL SHAREHOLDERS EQUITY & LIABILITIES (c) + (d)	35.793.802,44	32.893.276,64	34.711.394,34	31.364.226,59		GROUP		COMPANY
						1.4 to	1.4 to	1.4 to	1.4 to

1.3 STATEMENT OF CHANGES IN EQUITY Amounts expressed in €					Sales Turnover Gross profit / (loss)	5.054.558,39 2.716.834,70	4.910.230,22 3.078.494,63	4.719.425,43 2.530.031,73	4.831.531,85 3.030.502,04
	Ο ΟΜΙΛΟΣ		Η ΕΤΑΙΡΕΙΑ		Profit/(loss) before tax, interest,
	30.06.2009	30.06.2008	30.06.2009	30.06.2008	investing results	657.312,96	934.637,87	706.659,74	1.055.537,32
O Opening balance i bl					P fit/(l Profit/(loss) before tax ) b f t	598.473,26 598 473 26	850.482,92 850 482 92	652.435,72 652 435 72	970.965,53 970 965 53
(01.01.2009 & 01.01.2008 accordingly)	17.928.724,43	16.424.427,79	18.097.171,57	16.424.427,79	Profit/(loss) after tax (Α)	383.359,48	568.291,94	425.124,64	651.995,49
Year's Profit / (loss)					- Owners of the parent	383.359,48	568.291,94	425.124,64	651.995,49
after taxes	1.812.479,41	2.149.271,03	1.934.575,65	2.232.974,58	- Minority Shareholders'	0,00	0,00	0,00	0,00
Dividends	-1.750.136,00	-1.750.136,00	-1.750.136,00	-1.750.136,00
Minority Shareholders share in share capital of subsidiary	0,00	150.000,00	0,00	0,00	Other Profit/(loss) after tax (Β)	0,00	0,00	0,00	0,00
Net income towards equity	28.081,30	0,00	0,00	0,00	Total Profit
Year's end equity					after tax (Α) + (Β)	383.359,48	568.291,94	425.124,64	651.995,49
(30.06.2009 & 30.06.2008 accordingly)	18.019.149,14	16.973.562,82	18.281.611,22	16.907.266,37	- Owners of the parent	383.359,48	568.291,94	425.124,64	651.995,49
					-Minority Shareholders'	0,00	0,00	0,00	0,00

Amounts expressed in €					Profit/(loss) before tax, interest,
	GROUP		COMPANY
	1.1 to	1.1 to	1.1 to	1.1 to
	30.06.2009	30.06.2008	30.06.2009	30.06.2008
Operating activities					Notes:
Profit before tax	2.506.211,56	2.857.498,59	2.665.576,65	2.977.981,20	1.
Increase / Decrease adjustments for:
Depreciation	224.506,04	263.218,12	203.605,12	254.762,31
Previsions	2.640,76	0,00	0,00	0,00
Foreign Exchange Differences	-84.293,29	0,00	-84.293,29	0,00
Investing Activities Results (income, expences, profit & loss)	156.519,91	-6.596,16	82.413,44	-5.633,51
Interest Expense	148.165,21	188.565,19	135.231,83	188.373,47	2.
Increase / Decrease adjustments for working capital:					regarding last year.
Decrease/(increase) in inventories	-563.137,48	-852.718,81	-587.699,30	-699.113,13
Decrease/(increase) in receivables	-1.254.767,93	-1.604.093,32	-1.311.395,88	-1.445.357,31	3.
(Decrease)/increase in current liabilities (excluding borrowings)	1.268.488,99	2.802.382,70	1.614.608,22	2.407.365,55
Minus :
Interest Paid	-148.165,21	-188.565,19	-135.231,83	-188.373,47	part of the company or branch.
Income taxes paid	-453.542,78	-278.602,86	-453.542,78	-278.602,86
Total cash flows from operating activities (a)	1.802.625,78	3.181.088,26	2.129.272,18	3.211.402,25	4.
					5.
Investing Activities
Subsidiary	0,00	0,00	0,00	-350.000,00	6.
Purchase of tangible and intangible assets	-146.344,18	-412.711,22	-115.698,68	-86.759,04
Proceeds from sales of tangible and intangible assets	27.041,25	21.989,51	0,00	2.878,10	7.
Proceeds from sales of securities	0,00	0,00	0,00	0,00
Interest income	3.281,60	12.995,98	723,37	12.387,43
Dividends income	0,00	0,00	0,00	0,00
	-116.021,33	-377.725,73	-114.975,31	-421.493,51
Total cash flows from ivnesting activities (b)
Financing activities					8.
Proceeds from increased capital	0,00	150.000,00	0,00	0,00
Proceeds from borrowings	2.000.000,00	0,00	2.000.000,00	0,00	9.
Inflow from Government Programs	33.126,00	0,00	33.126,00	0,00
Borrowings paid	-678.578,99	-371.368,31	-669.430,45	-371.368,31 10.
Payments of leasing liabilities	-30.533,89	-33.975,38	-30.533,89	-33.975,38
Dividends paid	-1.750.136,00	-1.750.136,00	-1.750.136,00	-1.750.136,00
Total cash flows from Financing activities (c)	-426.122,88	-2.005.479,69	-416.974,34	-2.155.479,69
Net increase / (Decrease) in cash
and cash equivalents (a) + (b) + (c)	1.260.481,57	797.882,84	1.597.322,53	634.429,05 11.
Cash and cash equivalents opening balance	992.971,81	1.155.926,46	293.737,10	1.155.926,46
Cash and cash equivalents closing balance	2.253.453,38	1.953.809,30	1.891.059,63	1.790.355,51
	Thessaloniki August 24th 2009 Thessaloniki, August 24
PRESIDENT & CEO	VICE-PRESIDENT OF THE
	B.O.D.		FINANCE DIRECTOR
EFSTRATIOS Κ. ANDREADIS
	ANASTASIA Ε. ANDREADOU

Identity Card No Μ 371650

Identity Card No ΑΒ 691316

1.1 BALANCE SHEET					1.2a STATEMENT OF COMPREHENSIVE INCOME
Amounts expressed in €					Amounts expressed in €
	GROUP		COMPANY			GROUP		COMPANY
	30.06.2009	31.12.2008	30.06.2009	31.12.2008		1.1 to	1.1 to	1.1 to	1.1 to
						30.06.2009	30.06.2008	30.06.2009	30.06.2008
	8.271.353,44	8.424.386,94	7.886.035,78	7.976.435,37
	27.088,23	27.841,24	2.493,15	0,00	Sales Turnover	13.001.450,32	12.095.433,28	12.233.156,00	12.016.734,91
	429.909,68	438.670,84	655.452,05	716.048,05	Gross profit / (loss)	7.161.034,69	7.153.518,60	6.839.210,74	7.105.526,01
	7.552.413,49	6.989.276,01	7.279.606,59	6.691.907,29	Profit/(loss) before tax, interest,
	16.746.782,59	15.075.360,54	16.498.485,49	14.780.919,60	investing results	2.651.842,69	3.039.821,71	2.800.832,63	3.160.721,16
	2.766.255,01	1.937.741,07	2.389.321,28	1.198.916,28	Profit/(loss) before tax	2.506.211,56	2.857.498,59	2.665.576,65	2.977.981,20
	35.793.802,44	32.893.276,64	34.711.394,34	31.364.226,59	Profit/(loss) after tax (Α)	1.812.479,41	2.149.271,03	1.934.575,65	2.232.974,58
					- Owners of the parent	1.812.479,41	2.149.271,03	1.934.575,65	2.232.974,58
SHAREHOLDERS' EQUITY AND LIABILITIES					- Minority Shareholders'	0,00	0,00	0,00	0,00
	8.313.146,00	8.313.146,00	8.313.146,00	8.313.146,00	Other Profit/(loss) after tax (Β)	0,00	0,00	0,00	0,00
	9.706.003,14	9.615.578,43	9.968.465,22	9.784.025,57	Total Profit
Total Shareholder's Equity (a) ota S a e o de s qu ty	18.019.149,14 8 0 9 9,	17.928.724,43 98 ,3	18.281.611,22 886 ,	18.097.171,57 8 09 ,5	after tax (Α) + (Β) a te ta )	1.812.479,41 8 9,	2.149.271,03 9 ,03	1.934.575,65 93 5 5,65	2.232.974,58 3 9 ,58
					- Owners of the parent	1.812.479,41	2.149.271,03	1.934.575,65	2.232.974,58
	0,00	0,00	0,00	0,00	-Minority Shareholders'	0,00	0,00	0,00	0,00
	18.019.149,14	17.928.724,43	18.281.611,22	18.097.171,57
					Profit after tax per share in (€)	0,0828	0,0982	0,0884	0,1021
	6.332.000,00	4.332.000,00	5.332.000,00	3.332.000,00	Profit/(loss) before tax, interest,
Provisions / Other long term liabilities	1.497.373,10	793.105,34	1.487.560,90	785.933,90	investing results and depreciation	2.876.348,73	3.303.039,83	3.004.437,75	3.415.483,47
Short term borrowing liabilities	1.457.045,17	2.135.624,16	1.457.045,17	2.126.475,62
	8.488.235,03	7.703.822,71	8.153.177,05	7.022.645,50
	17.774.653,30	14.964.552,21	16.429.783,12	13.267.055,02	1.2 b STATEMENT OF COMPREHENSIVE INCOME
					Amounts expressed in €
TOTAL SHAREHOLDERS EQUITY & LIABILITIES (c) + (d)	35.793.802,44	32.893.276,64	34.711.394,34	31.364.226,59		GROUP		COMPANY
						1.4 to	1.4 to	1.4 to	1.4 to
						30.06.2009	30.06.2008	30.06.2009	30.06.2008
1.3 STATEMENT OF CHANGES IN EQUITY					Sales Turnover	5.054.558,39	4.910.230,22	4.719.425,43	4.831.531,85
Amounts expressed in €					Gross profit / (loss)	2.716.834,70	3.078.494,63	2.530.031,73	3.030.502,04
	Ο ΟΜΙΛΟΣ		Η ΕΤΑΙΡΕΙΑ		Profit/(loss) before tax, interest,
	30.06.2009	30.06.2008	30.06.2009	30.06.2008	investing results	657.312,96	934.637,87	706.659,74	1.055.537,32

					P fit/(l Profit/(loss) before tax ) b f t	598.473,26 598 473 26	850.482,92 850 482 92	652.435,72 652 435 72	970.965,53 970 965 53
(01.01.2009 & 01.01.2008 accordingly)	17.928.724,43	16.424.427,79	18.097.171,57	16.424.427,79	Profit/(loss) after tax (Α)	383.359,48	568.291,94	425.124,64	651.995,49
					- Owners of the parent	383.359,48	568.291,94	425.124,64	651.995,49
	1.812.479,41	2.149.271,03	1.934.575,65	2.232.974,58	- Minority Shareholders'	0,00	0,00	0,00	0,00
Minority Shareholders share in share capital of subsidiary	0,00	150.000,00	0,00	0,00	Other Profit/(loss) after tax (Β)	0,00	0,00	0,00	0,00
					after tax (Α) + (Β)	383.359,48	568.291,94	425.124,64	651.995,49
(30.06.2009 & 30.06.2008 accordingly)	18.019.149,14	16.973.562,82	18.281.611,22	16.907.266,37	- Owners of the parent	383.359,48	568.291,94	425.124,64	651.995,49
					-Minority Shareholders'	0,00	0,00	0,00	0,00
1.4 CASH FLOW STATEMENT					Profit after tax per share in (€)	0,0175	0,0260	0,0194	0,0298
Amounts expressed in €					Profit/(loss) before tax, interest,
	GROUP		COMPANY		investing results and depreciation	767.872,07	1.069.324,59	806.711,62	1.181.768,23

The B.O.D., of mother company AS COMPANY S.A. and subsidiary company COSMOKID S.A. (participation percentage 100%), at their July 16th Increase / Decrease adjustments 2009 meeitngs, decided on the merger, by absorption of the second commpany by the firtst, according to terms of the articles 1 to 5 of law 2166/1993 g ,g , y p p y y , g and the article 78 of low 2190/1920. As date of absorption has been arranged the 30.06.2009 in which date the acquisition value of the participation was € 390.000,00 and the net ecquity of subsidiary company was € 127.537,92. (please see note 5.1 in financial statement notes).

There were no changes such as, in accounting policies, appreciation, correction in accounting mistakes, changes of entries in financial statements, regarding last year.

During the ending period COSMOKID S.A. transferred ownership of the store its subsidiary company COSMOKID ALBANIA LTD, in Tirana, and participation percentage 100%, to a local agent, which has undertaken the development and the management of retail stores (children's clothing IDEXE and toys AS) all over Albania. (please see note 5.3 in financial statement notes). There weren't any other facts such as takeover, sell, merger of other part of the company or branch.

There were no changes in the company's fiscal year period, therefore all information presented is comparable.

The Financial Statements are not included in other consolidated financial statements published by other companies. During this period in consolidated financial statements of the group the company COSMOKID ALBANIA LTD is not inlcuded.

There do not exist any types of arbitration or pending litigation matters that could have a material adverse effect on AS Company S.A. & COSMOKID AS COMPANY S.A. has been audited by the tax authorities up to and including the fiscal year 2004 while subsidiary company COSMOKID S.A.was established in 2008 and has not been audited for it's first fiscal year (please see note 5.5 in financial statement notes).

S A financial condition and therefore there do not exist any corresponding provisions (please see note 5 6 in financial statement notes) Provisions for S.A. condition do any corresponding provisions. (please see 5.6notes). the unaudited tax years of AS Company have been made which amount to € 190.000,00 while other provisions for slow moving stock amounting to € 866.163,94 και and bad debt provisions amounting to € 631.234,24 have also been incorporated.

The number of staff employed by the subsidiary and mother company as at the end of fical year is 72 and 59 employees accordingly and was 60 and 56 employees, accordingly at the end of the respective period.

During the fiscal period the groups net equity was registered the amount of € 28.081,30 which concerns consolidation differencesdue to investing activities of the subsidiary COSMOKID ALBANIA LTD. In the Groups consolidated financial statements are included COSMOKID S.A. figures, headquarters in Thessaloniki, participation percentage 100%,

date consolidation was initiated 04.04.2008. On 12.06.2008 the subsidiary Cosmokid S.A. incorporated its subsidiary COSMOKID ALBANIA LTD location Tirana, Albania,with 100% stake, of which financial results were not consolidated, in the during semester, in groups financial statements, for the reasons mentioned above (please see note 5.9 in financial statement notes).

The amounts of sales and purchases from the beginning of the fiscal period and the balance of receivables and liabilities of the Group and the Company at the end of the fiscal period which have resulted from transactions from related sectors, such as defined by IAS standard 24 are as follows:

		GROUP	COMPANY
	a) Sales of goods and services	0,00	53.023,08
FINANCE DIRECTOR	b) Purchase of goods and services	0,00	16.996,72
	c) Trade debtors	0,00	57.678,33
	d) Liabilities	0,00	44.254,99
	e) Transactions & salaries of managerial staff and the board	302.618,17	250.963,66
PANAGIOTIS V. PAPASPIROU Identity Card No ΑΕ 032224	f) Receivables fron managerial staff and the board	0,00	0,00
	g) Liabilities towards managerial staff and te board	5.533,50	5.533,50