Fourlis S.A.

Annual / Quarterly Financial Statement • Sep 23, 2015

According to the Low 2190/20 art.135 for Companies publishing their Annual Consolidated and Non Consolidated Financial Statements in accordance to the International Accounting Standards

The figures presented below provide general information about the financial position and results of Fourlis Holdings SA and Fourlis Group. Therefore we advise the reader who intends to proceed to any investment or any kind of transaction with the company to visit the company's website where the Financial Statements and the Certified Auditors Report - when neccesary - have been published

Supervising Authority Website address	: Ministry of Development : www.fourlis.gr					Board of Directors Presindent-Executive Member		: Vassilios Fourlis
Date of Approval of Financial Statements from BoD	: February 22, 2010						Vise Presindent-Executive Member : Alexandros Fourlis
Certfied Auditors : Vassilios D.Papageorgakopoulos, Ioannis A. Achilas Audit Firms : SOL S.A. Chartered Auditors, KPMG Chertified Auditors S.A.						CEO -Executive Member Executive Member		: Apostolos Petalas : Dafni Fourlis
Type of Report : Unqualified					Executive Member Non Executive Member		: Lyda Fourlis : Ioannis Brembos
								Non Executive Indepentent Member : Eftichios Vassilakis Non Executive Indepentent Member : Ioannis Papaioannou
								Non Executive Indepentent Member : Ioannis Kostopoulos
STATEMENT OF FINANCIAL POSITION (Consolidated & Stand alone ) amounts in thousand €					STATEMENT OF COMPREHENSIVE INCOME (Consolidated & Stand alone ) amounts in thousand €
GROUP			COMPANY			GROUP		COMPANY
	31/12/09	31/12/08	31/12/09	31/12/08		1/1 - 31/12/2009	1/1 - 31/12/2008	1/1 - 31/12/2009	1/1 - 31/12/2008
Assets Νon-current assets
Property plant and equipment	193.252	212.487	86		71 Revenue	751.722	784.447	0	0
Investment Property Intangible Assets	20.387 12.578	23.822 5.145	0 123		0 Cost of Goods Sold 35 Gross Profit Profit	-521.402 230.320 230.320	-546.347 238.100 238.100 238.100	0 000	0 000
Investments Long Term receivables	9.755 14.480	95 5.065	88.570 138		88.267 Other operating income 180 Distribution expenses	25.004 -157.151	42.355 -150.080	2.115 0	24.573 0
Deferred Taxes Total non-current assets	2.460 252.911	1.244 247.858	58 88.975		46 Administrative expenses 88.599 Other operating expenses	-30.698 -4.778	-31.809 -7.070	-2.576 -371	-1.840 -20
Current assets					Operating Profit	62.698 62.698	91.49691.496 91.496	-831 -831-831	22.713 22.713
Inventory Income tax receivable	105.619 15.092	110.655 12.767	0 3.870	0	3.281 Finance costs	-12.397	-19.013	-1	-1
Trade receivables Other receivables	108.519 15.938	139.582 24.504	449 110		482 Finance Income 319 Expense/income from associate companies	3.336 -358	3.750 0	1.156 6.000	700 11.000
Cash & cash equivalent Non current assets classified as held for sale	94.140 0	104.218 49	21.547 0	47	40.343 Profit before Tax	53.278 53.278	76.233 76.233	6.325 6.3256.325	34.412 34.412
Total current assets	339.308	391.775	25.977		44.472 Income tax	-21.124	-20.591	-3.184	-5.731
Total Assets Shareholders Equity & Liabilities	592.220	639.633	114.951	133.071	Net Income (A)	32.154	55.642	3.141	28.681
Shareholders Equity					Attributable to:
Share Capital Share premium reserve	50.953 11.864	50.953 11.864	50.953 12.208		50.953 Parent company 12.208 Non - controlling interest	31.621 533	55.057 585	3.141 0	28.681 0
Reserves Retained earnings	66.733 84.894	64.152 74.784	30.781 17.205		29.151 Net Income (A) 33.664 Other comprehensive income	32.154	55.642	3.141	28.681
Total equity (a)	214.444	201.753	111.146		125.976 Foreign currency translation from foreign operations	-403	-895	0	0
Non - controlling interest (b)	1.019	945	0		0 Effective portion of changes in fair value of cash flow hedges	-535	0	0	0
Total Equity (c)=(a)+(b) Liabilities	215.463	202.698	111.146		125.976 Reserve from assets revaluation Comprehensive Income after Tax (B)	0 -939	12.304 11.409	0 000	0 000
Non current Liabilities Loans and borrowings	92.334	87.054	0		0 Total Comprehensive Income after tax (A)+(B) Income after tax (A)+(B)	31.215 31.215	67.051 67.051	3.141 3.1413.141	28.681 28.681
Employee retirement benefits Provisions	2.254 251	1.855 265	29 0		24 Attributable to: 0 Parent company	30.682	66.466	3.141	28.681
Deferred Taxes Other non-current liabilities	5.699 4.002	4.940 164	0 121	163	0 Non - controlling interest	533	585	0	0
Total non current Liabilities	104.540	94.278	150		187 Basic Earnings per Share (in Euro)	0,6206	1,0805	0,0616	0,5629
Current Liabilities Loans and borrowings	49.726	67.114	0		Diluted Earnings per Share (in Euro) 0 Proposed dividend per share - (in Euro)	0,6158	1,0789	0,0612 0,2500	0,5621 0,3600
Current portion of non-current loans and borrowings Income Tax Payable	9.755 20.657	91.585 20.550	0 2.788		0 Earnings before Interest, Taxes, Amortisation & Depr 5.924 Notes :	72.909	101.727	-812	22.727
Accounts payable and other current liabilities Total current Liabilities	192.078 272.216	163.408 342.657	867 3.655		984 1.The basic accounting principles applied are consistent with those applied for the Annual Financial Statements of 31/12/2008. 6.908 2.The type of Auditors Independent Report on Review of Condensed Annual Financial Information, is unqualified.
Total Liabilities (d)	376.756	436.935	3.805		7.095 3.The assets of the Group and the Company are free of mortgages and pre-notations.
Total Equity & Liabilities (c) + (d)	592.220	639.633	114.951		133.071 4.There are no litigations, which have an important impact on the financial position of Fourlis Group and the Company. 5.The total headcount for Group and Company is as follows : Group 3.138 (2008 2.945), Company 5 (2008 5 ).
STATEMENT OF CHANGES IN EQUITY					6.Subsidiary Companies, their location, Fourlis Holdings share participation along with the method of consolidation in the Annual Financial Statements 1/1-31/12/2009 are as below: a)Full Consolidation Method
(consolidated and stand alone ) amounts in thousand €					FOURLIS HOLDINGS S.A Greece HOUSEMARKET S.A Greece	Holdings 100.00%
	GROUP 31/12/09	31/12/08	COMPANY 31/12/09	31/12/08	H.M HOUSEMARKET (CYPRUS) LTD Cyprus RENTIS S.A Greece	100.00% 100.00%
					INTERSPORT ATHLETICS S.A Greece	100.00%
Balance at the end of period (1/1/2009 and 1/1/2008 respectively) Total comprehensive income for the period after taxes	202.698 31.215	151.038 54.747	125.976 3.141		112.564 INTERSPORT ATHLETICS (CYPRUS) LTD* Cyprus 28.681 FOURLIS TRADE S.A Greece	100.00% 100.00%
Dividends to equity holders Others	-18.807 358	-15.407 12.320	-18.343 373		-15.285 EUROELECTRONICS S.A * Greece 16 PRIME TELECOM S.A Greece	78.53% 82.91%
Balance at the end of the year (30/9/2009 and 30/9/2008 respectively)	215.463 215.463	202.698 202.698 202.698	111.146 111.146111.146	125.976 125.976	GENCO TRADE S.R.L. Romania	100.00%
					SERVICE ONE S.A * Greece	99,94%
CASH FLOW STATEMENT				TRADE LOGISTICS S.A* Greece GENCO BULGARIA L.T.D Bulgaria	100.00% 100.00%
(consolidated and stand alone ) amounts in thousand €				HOUSE MARKET BULGARIA EAD Bulgaria WYLDES LTD Cyprus	100.00% 100.00%
	GROUP 1/1 -	1/1 -	COMPANY 1/1 -	1/1 -
	31/12/2009	31/12/2008	31/12/2009	31/12/2008	b)Net Equity Method
Operating Activities					SPEEDEX S.A Greece VYNER LTD* Cyprus	49,55% 50,00%
Net profit before taxes Adjustments for:	53.278 53.278	76.233 76.233	6.325 6.325		34.412 34.412 *Indicating Companies where Fourlis Holdings S.A has an indirect participation.
Depreciation Provisions	10.211 2.224	10.231 2.447	19 73		14 7.The Non Audited Fiscal years for the Group Companies are listed under Note 23 of the Annual Financial Statements.The provision related to the non audited Fiscal years 16 is 1.484 th.€ for the Group.
Foreign exchange differences	906	131	0		0 8.The accumulated provisions for the Group include, in addition to the aforementioned amounts, €251 th. for compensation payments re guarantees for products sold.
Results (Income, expenses, profit and loss) from investment activity Interest Expense	-4.962 10.365	-24.764 14.232	-7.889 1		-35.087 9.The Consolidated Annual Financial Statements of 31/12/2009 in addition to the corresponding 31/12/2008 include the company : VYNER LTD, Nicosia Cyprus, being a 50% 1 of Wyldes Ltd.
Plus/less adj for changes in working capital related to the op erating activities:					The above mentioned additions in the consolidated companies have no impact greater than 25%, on Turnover, Profit After Taxes, Minority Interest and Shareholder's Equity.
Decrease / (increase) in inventory Decrease / (increase) in trade and other receivables	3.892 25.879	-21.281 6.567	0 -305		0 10.Earnings per Share have ben calculated based on the weighted avergage number of Shares outstanding. -1.491 11.Annual Related Party Transactions as per IAS 24 are as below
(Decrease) / increase in liabilities (excluding banks) Less:	32.031	-6.812	-163	671	31/12/2009
Interest paid Income taxes paid	-12.397 -22.904	-14.232 -23.579	-1 -6.332	-1	GROUP COMPANY -4.538 Outflows 0	1.278
Net cash generated from operations (a)	98.523	19.173	-8.272	-6.003 Inflows	150	0
Investing Activities					Receivables 0	435
Purchase of subsidiaries and related companies	-9.649	0	0		0 Liabilities 100	11
Purchase of tangible and intangible fixed assets	-20.300	-60.504	-123		-29 Board of Directors' Fees 1.477	48
Proceeds from disposal of tangible and intangible assets Interest Received	8 3.330	166 1.653	0 1.156	700	0 Management Compensation and Expenses 879	700
Proceeds from dividends Purchase of other investments	0 -4.308	0 -5	6.000 0	0	11.000 There are no demands from or obligations towards Fourlis Group or Fourlis Holdings S.A from BoD members and Managers
Proceeds from the sale of investments Total inflow / (outflow) from investing activities (b)	33.310 2.390	28.076 -30.614	780 7.814	28.076 39.747		Neo Psychiko, February 22, 2010
					The Chairman of the BOD.			The CEO
Financing Activities Proceeds from issued loans	93.730	216.549	0	0
Repayment of loans Repayment of leasing liabilities	-182.976 -2.914	-152.873 -2.707	0 0	0 0
Dividends paid	-18.801	-15.407	-18.338	-15.286
Total inflow / (outflow) from financing activities (c) Net increase/(decrease) in cash and cash equivalents for the pe	-110.962	45.562	-18.338	-15.286	Vassilios Stil. Fourlis			Apostolos D. Petalas
riod (a)+(b)+(c) Cash and cash equivalents at the beginning of the period	-10.048 -10.048 104.218	34.121 34.121 70.483	-18.796 40.343	18.458 21.885	ID No. Σ-700173			ID No Π-319553
Effect of exchange rate fluctuations on cash held	-30	-386	0	0	The Finance Manager Planning & Controlling			The Chief Accountant
Closing balance, cash and cash equivalents	94.140	104.218	21.547	40.343	Maria I. Theodoulidou			Sotirios I. Mitrou