Attica Holdings S.A.

Quarterly Report • Sep 21, 2015

	COMPANY INFORMATION					CASH FLOW STATEMENT
Internet Domain:	www.attica-group.com					GROUP		COMPANY
Date of Board of Directors approval of interim						1.01-31.03.2011 1.01-31.03.2010		1.01-31.03.2011	1.01-31.03.2010
financial statements:	May 27, 2011				Cash flow from Operating Activities
Certified Auditor:	Michalios Manolis - SOEL No 25131				Profit/(Loss) Before Taxes	-22.764	-21.922	-620	-252
Audit Firm:	Grant Thornton S.A. - SOEL No 127				Adjustments for:
Type of certified auditor's review report:	Unaudited				Depreciation	6.827	6.732	22	22
	BALANCE SHEET				Impairment of tangible and intangible assets	-	-	-	-
	GROUP		COMPANY		Provisions	420	124	19	2
ASSETS	31.03.2011	31.12.2010	31.03.2011	31.12.2010	Foreign exchange differences	28	-8	12	-
Tangible assets	731.899	738.240	195	210	Net (profit)/loss from investing activities	-3.822	1.141	257	-157
Investment properties	-	-	-	-	Interest payable and other financial expenses	3.473	3.991	1	4
Intangible assets	1.271	1.357	90	96	Plus or minus for Working Capital changes:
Other non current assets	3.408	5.747	466.921	443.271	Decrease/(increase) in Inventories	-479	640	-	-
Inventories	11.860	11.381	-	-	Decrease/(increase) in Receivables	-2.359	-17.257	314	-344
Trade receivables and prepayments	59.573	55.011	-	35	(Decrease)/increase in Payables (excluding banks)	-2.644	9.688	-761	-17.378
Other current assets	40.596	45.845	8.834	10.351	Less:
Non current assets classified as held for sale	-	682	-	-	Interest and other financial expenses paid	-2.198	-1.266	-1	-2
Total assets	848.607	858.263	476.040	453.963	Taxes paid	-1.156	-1.803	-488	-
					Operating cash flows of discontinued operations	-	-	-	-
EQUITY AND LIABILITIES					Total cash inflow/(outflow) from operating activities (a)	-24.674	-19.940	-1.245	-18.105
Share capital	159.078	134.812	159.078	134.812
Other equity	308.558	336.229	313.573	314.527	Cash flow from Investing Activities
Total shareholders equity (a)	467.636	471.041	472.651	449.339	Acquisition of subsidiaries, associated companies, joint
Minority interests (b)	-	-	-	-	ventures and other investments	-	-	-28.100	-13.275
Total equity (c)=(a)+(b)	467.636	471.041	472.651	449.339	Purchase of tangible and intangible assets	-400	-322	-	-
Long-term borrowings	289.307	295.032	-	-	Proceeds from sale of tangible and intangible assets	4.650	81.500	-	-
Provisions / Other long-term liabilities	4.035	3.976	538	518	Derivatives' result	-	-	-	-
Short-term debt	40.211	41.043	-	-	Interest received	175	228	51	157
Other short-term liabilities	47.418	45.241	2.851	4.106	Dividends received	-	-	-
Liabilities associated with non current					Investing cash flows of discontinued operations	-	-	-	-
assets classified as held for sale	-	1.930	-	-	Total cash inflow/(outflow) from investing activities (b)	4.425	81.406	-28.049	-13.118
Total liabilities (d)	380.971	387.222	3.389	4.624
					Cash flow from Financing Activities
Total equity and liabilities (c)+(d)	848.607	858.263	476.040	453.963	Proceeds from issuance of Share Capital	24.266	41.621	24.266	41.621
					Additional equity offering costs	-334	-294	-334	-294
					Proceeds from Borrowings	-	-	-	-
	INCOME STATEMENT FOR THE PERIOD				Proceeds from subsidiaries	-	-	4.450	-
	GROUP			COMPANY	Payments of Borrowings	-8.655	-47.245	-	-
	1.01-31.03.2011 1.01-31.03.2010		1.01-31.03.2011 1.01-31.03.2010		Payments of finance lease liabilities	-91	-144	-	-
Revenue	44.196	51.586	-	-	Dividends paid	-	-	-	-
Gross Profit/(loss)	-13.122	-5.341	-	-	Financing cash flows of discontinued operations	-	-	-	-
Earnings before taxes, investing and financial
results	-23.024	-16.757	-349	-405	Total cash inflow/(outflow) from financing activities (c)	15.186	-6.062	28.382	41.327
					Net increase/(decrease) in cash and cash equivalents
Profit/(loss) before taxes	-22.764	-21.922	-620	-252	(a)+(b)+(c)	-5.063	55.404	-912	10.104
					Cash and cash equivalents at beginning of period	26.491	16.870	4.066	7.391
Profit/(loss) after taxes (A)	-22.785	-21.947	-620	-252	Exchange differences in cash and cash equivalents	-30	4	-17	-
					Cash and cash equivalents at end of period	21.398	72.278	3.137	17.495
Attributable as follows:
Owners of the parent	-22.785	-21.947	-620	-252		STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD
Minority shareholders	-	-	-	-		GROUP		COMPANY
Other comprehensive income after tax (B)	-4.552	6.679	-	-		31.03.2011	31.03.2010	31.03.2011	31.03.2010
Total comprehensive income for the period after
tax (A)+(B)	-27.337	-15.268	-620	-252	Equity Opening Balance (01.01.2011 and 01.01.2010)	471.041	471.049	449.339	483.270
Owners of the parent	-27.337	-15.268	-620	-252	Total comprehensive income for the period after tax	-27.337	-15.268	-620	-252
Minority shareholders	-	-	-	-	Increase/(decrease) of share capital	23.932	41.327	23.932	41.327
Earnings after taxes Per Share - basic (in €)	-0,1233	-0,1385	-0,0034	-0,0016	Dividends paid	-	-	-	-
Earnings before taxes, investing and					Purchase/(Sale) of treasury stock	-	-	-	-
financial results, depreciation and amortization	-16.197	-10.025	-327	-383	Equity Closing Balance (31.03.2011 and 31.03.2010)	467.636	497.108	472.651	524.345

NOTES :

13. On 01/03/2011 the Group has concluded the sale of the RoPax vessel Superferry II which was sold for a total cash consideration of € 4,65 mln. The book capital gains of approximately € 3,9 mln have been posted in the financial results of the 1st quarter of 2011. The above sale generate for Attica Group additional cash of € 2,6 mln approximately.

15. On 24/5/2011 the Group has announced the signing of a joint service agreement with ANEK Lines for the employment of vessels of the two companies in the international route Patras – Igoumenitsa – Ancona and the domestic route Piraeus – Herakleion, Crete.
		Athens, May 27, 2011
THE PRESIDENT OF THE B.O.D.	THE MANAGING DIRECTOR	THE DIRECTOR	THE FINANCIAL DIRECTOR
CHARALAMPOS PASCHALIS	PETROS VETTAS	SPIROS PASCHALIS	NIKOLAOS TAPIRIS

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

was 89,38%. 10. 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),

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

	(Amounts in thousand €)
	Group	Company
a) Revenue	1.143	-
b) Expenses	428	-
c) Receivables	572	-
d) Payables	501	-
e) Transactions and Board of Directors and Executive Directors' Fees	866	65
f) Receivables from Board of Directors and Executive Directors	-	-
g) Payables to Board of Directors and Executive Directors	-	-

11. "Other comprehensive income after tax" amounting - € 27.337 thousand refer to the Group's expense, - € 22.785 thousand and to the exchange rate hedging of Euro / US Dollar, - € 4.552 thousand. For the company "Total comprehensive income for the period after tax" amounting - € 620 thousand refer to the company's expense (see statement of changes in equity of the interim financial statements).

12. On 21/01/2011 was completed the share capital increase. The proceeds of the capital increase are € 24.266 thousand. The share capital amounts to € 159.078 thousand and is divided in 191.660.320 common registered voting shares with a nominal value of € 0,83 each.

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:

8. Earnings per share were calculated using the weighted average method (note 5.4 of the interim financial statements).

3. The accounting principles are the same as those used on 31/12/2010.

4. The number of employees, at period end, was 6 for the parent company and 1.229 for the Group, while at 31/03/2010 was 6 and 1.223 respectively.

5. The vessels owned by the Group have been mortgaged as security of long term borrowings for the amount of Euro 777.780 thousand. There are no liens and encumbrances for the Company.

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 € 955 thousand. Furthermore, the Company and the Group have made a retirement benefit provision amounting € 139 thousand and € 2.494 thousand respectively. There are no provisions according to paragraphs 10,11 and 14 of the IAS 37 article "Provisions, Possible Liabilities and Possible Assets" for the Company and the Group.

1. The companies with their corresponding registration, the percentages of participation and their method of consolidation in the interim Financial Statements of 31.03.2011, can be found in note 3 of the interim financial statements.

For all the companies of the Group, there are no changes of the method of consolidation. There are not companies which have not been consolidated in the present period while they have been consolidated either in the previous period or in the same period of the fiscal year 2010. Also, there are no companies of the Group which have not been consolidated in the interim financial statements.

2. All the companies included in the consolidation of Attica Group had already made a tax provision of € 150 thousand. The parent company has made a tax provision of € 20 thousand. Relevant analysis for the unaudited fiscal years can be found in note 6.1 of the interim financial statements.

Information for the period from January 1 to March 31, 2011

(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 €)

123-125, Syngrou Avenue & 3, Torva Street - 11745 Athens, Greece

ATTICA HOLDINGS S.A.

Registration Number: 7702/06/B/86/128