ASSA ABLOY

Annual / Quarterly Financial Statement • Sep 23, 2015

COMPANY'S INFORMATION DATA		COMPOSITION of the B.O.D.
Supervising Authority	: Ministry of Development	ANDREADIS Κ. EFSTRATIOS	: President & CEO of the B.O.D.	Executive Member
Company's web site	: www.ascompany.gr	ANDREADOU Ε. ANASTASIA	: Vice-President of the B.O.D.	Executive Member
Approval date from the B.O.D.		ANDREADIS Ε. KONSTANTINOS	: Member of the B.O.D.	Executive Member
for annual financial statements	: March 22nd 2010	RIZOPOULOS P. KONSTANTINOS	: Member of the B.O.D.	Independent non-executive Member
Certified Auditor Accountant	: Evaggelos Ν. Pagonis - L.C./ Accociation of Certified Auditors 14211	VASILAKERIS V. MORFIS	: Member of the B.O.D.	Non-executive Member
Auditing Association & Certified Auditing Firm	: BAKER TILLY HELLAS ΑΕ - L.C./ Accociation of Certified Auditors Ε 148	MEXTERIDIS Ι. THEOFILOS	: Member of the B.O.D.	Non-executive Member
Type of Review Opinion	: Unqualified

Published according to law 2190/20, article 135 for companies publishing their Annual Consolidated and Non Consolidated Financial Statements in accordance to the International Accounting Standards

The figures presented below, resualted from the financial statements, provide information about the financial position of AS COMPANY AE.

GROUP	COMPANY		GROUP		COMPANY
			31.12.2009	31.12.2008	31.12.2009	31.12.2008
		- Owners of the parent p	2.124.839,02 ,	3.144.367,45 ,	2.246.935,27 ,	3.422.879,78 ,
		- Owners of the parent	2.124.839,02	3.144.367,45	2.246.935,27	3.422.879,78
		Profit after tax per share in (€)	0,0971	0,1437	0,1027	0,1565

The reader is reccommended, before entering into any investment activity

FINANCIAL STATEMENTS INFORMATION January 1st ended in December 31st 2009

1. BALANCE SHEET					2. STATEMENT OF COMPREHENSIVE INCOME
Amounts expressed in €					Amounts expressed in €
		GROUP		COMPANY		GROUP		COMPANY
ASSETS	31.12.2009	31.12.2008	31.12.2009	31.12.2008		1.1 to	1.1 to	1.1 to	1.1 to
						31.12.2009	31.12.2008	31.12.2009	31.12.2008
Tangible fixed assets	8.203.334,04	8.424.386,94	8.203.334,04	7.976.435,37
Intangible fixed assets	27.157,27	27.841,24	27.157,27	0,00	Sales Turnover	25.832.010,39	27.245.709,32	25.063.716,07	26.606.519,22
Other non-current assets	245.083,82	438.670,84	245.083,82	716.048,05	Gross profit / (loss)	13.105.528,41	13.827.248,88	12.783.704,46	13.510.594,72
Inventories	5.416.061,53	6.989.276,01	5.416.061,53	6.691.907,29	Profit/(loss) before tax, interest,
Trade debtors	13.051.553,96	15.075.360,54	13.051.553,96	14.780.919,60	investing results	3.551.903,28	4.838.790,14	3.700.893,22	5.218.527,10
Other current assets	4.066.500,90	1.937.741,07	4.066.500,90	1.198.916,28	Profit/(loss) before tax	3.313.294,23	4.335.304,23	3.472.659,32	4.726.439,35
TOTAL ASSETS	31.009.691,52	32.893.276,64	31.009.691,52	31.364.226,59	Profit/(loss) after tax (Α)	2.124.839,02	3.144.367,45	2.246.935,27	3.422.879,78
					- Owners of the parent p	2.124.839,02 ,	3.144.367,45 ,	2.246.935,27 ,	3.422.879,78 ,
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	9.995.683,91	9.615.578,43	9.995.683,91	9.784.025,57	Total Profit
Total Shareholder's Equity (a)	18.308.829,91	17.928.724,43	18.308.829,91	18.097.171,57	after tax (Α) + (Β)	2.124.839,02	3.144.367,45	2.246.935,27	3.422.879,78
					- Owners of the parent	2.124.839,02	3.144.367,45	2.246.935,27	3.422.879,78
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)	18.308.829,91	17.928.724,43	18.308.829,91	18.097.171,57
					Profit after tax per share in (€)	0,0971	0,1437	0,1027	0,1565
Long term liabilities	5.204.000,00	4.332.000,00	5.204.000,00	3.332.000,00	Intended dividend per share (in €)	0,0500	0,0800	0,0500	0,0800
Provisions / Other long term liabilities	890.673,64	793.105,34	890.673,64	785.933,90	Profit/(loss) before tax, interest,
Short term borrowing liabilities	1.085.209,07	2.135.624,16	1.085.209,07	2.126.475,62	investing results and depreciation	3.991.757,21	5.451.183,91	4.119.846,23	5.802.059,69
Other short term liabilities	5.520.978,90	7.703.822,71	5.520.978,90	7.022.645,50
Total liabilities (d)	12.700.861,61	14.964.552,21	12.700.861,61	13.267.055,02
					5. NOTES
TOTAL SHAREHOLDERS EQUITY & LIABILITIES (c) + (d)	31.009.691,52	32.893.276,64	31.009.691,52	31.364.226,59

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

AS COMPANY S.A. COMMERCIAL INDUSTRIAL COMPUTER & TOY COMPANY Company's Number in the Register of Societes Anonymes 22949/06/Β/90/107 Headquarters: Municipality of Oraiokastro County of Thessaloniki

and Certified Auditors Accountant Audit Report are posted.

5. NOTES

1.

3. STATEMENT OF CHANGES IN EQUITY
Amounts expressed in €

	GROUP		COMPANY
	31.12.2009	31.12.2008	31.12.2009	31.12.2008
Opening balance
(01.01.2009 & 01.01.2008 accordingly)	17.928.724,43	16.424.427,79	18.097.171,57	16.424.427,79
Year's Profit / (loss)					2.
after taxes	2.124.839,02	3.144.367,45	2.246.935,27	3.422.879,78
Dividends	-1.750.136,00	-1.750.136,00	-1.750.136,00	-1.750.136,00	3.
Net income towards equity	5.402,46	110.065,19	-285.140,93	0,00
Year's end equity
(31.12.2009 & 31.12.2008 accordingly)	18.308.829,91	17.928.724,43	18.308.829,91	18.097.171,57

In the above financial statements the basic accounting principles applied are consistent with those applied for the balance sheet of the previous fiscal year.

The B.O.D., of mother company AS COMPANY S.A. and subsidiary company COSMOKID S.A. (participation percentage 100%), on July 16th 2009, decided on the merger, by absorption of the second company by the first, according to article 78 of law 2190/1920. Date of absorption was decided that of 30.06.2009, on which date the acquisition value of the participation was €390.000,00, sales turnover of the subsidiary €831.272,72, gross profit €321.823,95, semesters net profit € -122.096,25 & paid up share capital € 104.859,07. Thus all financial figures for 2009 in the all financial statements for the group include the amounts of the mother company and those of the absorbed subsidiary up to 30.06.2009, and therefore absolutely comparable with the corresponding amounts of the previous fiscal year which also included the absorbed subsidiary company COSMOKID S.A. The absorption of subsidiary company was completed on December 31st 2009 and from this point on a group will no longer exist but for comparison reasons alone last year's figures have been provided. (please see note 5.1 in financial statement notes).

During the reported fiscal year the amount of € 285.140,93 was reported in shareholders equity which represents the difference between the acquisition value and the shareholders equity of the absorbed subsidiary company COSMOKID S.A. Accordingly in the shareholders equity of the group there was reported the amount of € 5.402,46 which comes out from the difference between the value of the shareholders equity of subsidiary as at 30-06-2009 amount to € 104.859,07 and the initial value of the investment as it was formed in the corresponding period after the reductions which amounts to € 99.456,61.

The Company in compliance to the extraordinary charge (article 2 of law 3808/2009), was burdened with an additional € 274.807,61 charge on its after-tax-profit, which relate to extraordinary tax charge, This amount is calculated based on the 2009 income-tax return and will be paid in 12 monthly installments during 2010.

The Financial Statements are not included in other consolidated financial statements published by other companies.

4. CASH FLOW STATEMENT Amounts expressed in €					4. regarding last year.
		GROUP	COMPANY		5. There were no changes in the company's fiscal year period, therefore all information presented is comparable.
	1.1 to 31.12.2009	1.1to 31.12.2008	1.1 to 31.12.2009	1.1 to 31.12.2008	6. The Financial Statements are not included in other consolidated financial statements published by other companies.
Operating activities					7.
Profit before tax	3.313.294,23	4.335.304,23	3.472.659,32	4.726.439,35	established in 2008 and has not been audited until its absorption in 30.06.2009 (please see note 5.4 in financial statement notes).
Increase / Decrease adjustments for:					8.
Depreciation	418.953,01	612.393,77	418.953,01	583.532,59	employees accordingly, at the end of the previous fical year .
Previsions	11.144,13	12.646,61	11.144,13	5.475,16	9.
Foreign Exchange Differences	-72.632,52	-823.196,82	-72.632,52	-823.196,82
Investing Activities Results (income, expences, profit & loss)	-770.504,29	816.692,31	-230.634,67	820.477,21
Interest Expense	229.915,75	508.449,51	229.915,75	496.317,55	note 5.5 in financial statement notes).
Increase / Decrease adjustments for working capital:
Decrease/(increase) in inventories	1.275.845,76	-2.562.038,64	1.275.845,76	-2.264.669,92 10.
Decrease/(increase) in receivables	1.436.669,38	-756.716,11	1.436.669,38	-422.685,08
(Decrease)/increase in current liabilities (excluding borrowings)	-1.117.778,12	-525.195,66	-1.117.778,12	-1.206.372,87
Minus :
Interest Paid	-229.915,75	-508.449,51	-229.915,75	-496.317,55	company's parts. (please see note 5.8 in financial statement notes).
Income taxes paid	-1.372.964,85	-459.479,60	-1.372.964,85	-459.479,60
Total cash flows from operating activities (a)	3.122.026,73	650.410,09	3.821.261,44	959.520,02
Investing Activities					11.
Subsidiary	390.000,00	0,00	390.000,00	-390.000,00
Purchase of tangible and intangible assets	-673.073,68	-660.097,68	-673.073,68	-139.446,07	monthly installments during 2010.
Proceeds from sales of tangible and intangible assets	64,73	40.305,05	64,73	21.193,64 12.
Proceeds from sales of securities	0,00	0,00	0,00	0,00
Interest income	2.847,98	19.997,18	2.847,98	19.260,88
Dividends income	58,27	0,00	58,27	0,00
Total cash flows from ivnesting activities (b)	-280.102,70	-599.795,45	-280.102,70	-488.991,55		GROUP	COMPANY
Χρηματοδοτικές δραστηριότητες					a) Sales of goods and services	0,00	0,00
Proceeds from Subsidiary	0,00	0,00	0,00	0,00	b) Purchase of goods and services	0,00	0,00
Proceeds from increased capital	0,00	110.000,00	0,00	0,00	c) Trade debtors	0,00	0,00
Proceeds from borrowings	830.733,45	1.504.213,59	830.733,45	495.065,05	d) Liabilities	0,00	0,00
Inflow from Government Programs	46.218,00	0,00	46.218,00	0,00	e) Transactions & salaries of managerial staff and the board	0,00	801.401,83
Borrowings paid	0,00	0,00	0,00	0,00	f) Receivables fron managerial staff and the board	0,00	0,00
Payments of leasing liabilities	-91.861,43	-77.646,88	-91.861,43	-77.646,88	g) Liabilities towards managerial staff and te board	0,00	0,00
Dividends paid	-1.750.136,00	-1.750.136,00	-1.750.136,00	-1.750.136,00

IIn the Groups consolidated financial statements, during the previous fiscal year, were included COSMOKID S.A. figures, with location in Thessaloniki, Greece, with a 100% stake by AS Company, date of 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. During the year COSMOKID S.A. transferred the managing rights it had on a location it operated to a local representative, who would continue the further growth and expansion of the retail chain (kids clothing IDEXE and AS toys) in all of Albania. There were no other buyouts, consolidations, sell-off, secession, or reorganization of any of the company's parts. (please see note 5.8 in financial statement notes).

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 until its absorption in 30.06.2009 (please see note 5.4 in financial statement notes).

The amounts of sales and purchases from the beginning of the fiscal year καθώς and the balance of receivables and liabilities of the Group and the Company at the end of the fiscal year 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	0.00
b) Purchase of goods and services	0.00	0.00
c) Trade debtors	0.00	0.00
d) Liabilities	0.00	0.00
e) Transactions & salaries of managerial staff and the board	0.00	801.401.83
f) Receivables fron managerial staff and the board	0.00	0.00
g) Liabilities towards managerial staff and te board	0.00	0.00

The number of staff employed by the Group and mother company was 75 & 75 employees accordingly as at the end of fical year and 67 & 55 employees accordingly, at the end of the previous fical year .

There do not exist any types of arbitration or pending litigation matters of the Group or the Company that could have a material adverse effect on financial condition or operation of the Group and the Company and therefore there do not exist any corresponding provisions. Provisions for the unaudited tax years of AS Company have been made which amount to € 235.000,00 while other provisions amount to € 1.202.430,33. (please see note 5.5 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.

Total cash flows from Financing activities (c)	-965.045,98	-213.569,29	-965.045,98	-1.332.717,83		Thessaloniki, March 22nd 2010
Net increase / (Decrease) in cash					PRESIDENT & CEO	VICE-PRESIDENT OF THE B.O.D.	FINANCE DIRECTOR
and cash equivalents (a) + (b) + (c)	1.876.878,05	-162.954,65	2.576.112,76	-862.189,36
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	2.869.849,86	992.971,81	2.869.849,86	293.737,10	EFSTRATIOS Κ. ANDREADIS
					Identity Card No ΑΒ 691316	ANASTASIA Ε. ANDREADOU Identity Card No AH 181790	PANAGIOTIS V. PAPASPYROY Identity Card No ΑΕ 032224
							License : 0019079 A' Class