Anek Lines S.A.

Annual / Quarterly Financial Statement • Apr 15, 2022

COMPANY INFORMATION					TOTAL COMPREHENSIVE INCOME (parent company and consolidated)
Supervising authority: Ministry of Development, Societe Anonyme Division					(Amounts in € thousand)	Group		Company
Company's website: www.anek.gr Board of Directors: Katsanevakis Georgios (Chairman), Protopapadakis Spyridon (A' Vice Chairman), Georvasakis Michael (B' Vice Chairman),						from 01.01 to		from 01.01 to
						31.12.2021	31.12.2020	31.12.2021	31.12.2020
Vardinoyannis Ioannis (Managing Director), Archontakis Georgios (Deputy Managing Director), Markantonakis Alexandros (Non executive member), Fragkiadakis Georgios (Non executive member), Malandrakis Ioannis (Independent non executive member), Bailakis Andreas (Independent non					Turnover	149.997	124.452	129.411	109.986
					Gross profit / (loss)	17.047	14.768	11.143	10.081
executive member), Bras Ioannis (Independent non executive member), Tsigaloglou Christianna (Independent non executive member) Date of approval of the annual financial statements: April 15, 2022				Earnings / (losses) before taxes, financing and investing results (EBIT)	(3.911)	(4.463)	(6.058)	(5.989)
Certified auditors - accountants: Diamantoulakis Emmanouil (SOEL Reg. No 13101) - Kollyris Nikolaos (SOEL Reg. No. 35591)				Earnings / (losses) before taxes (EBT)	(40.087)	(13.478)	(43.780)	(14.567)
Auditing firms: GRANT THORNTON (Reg. No 127), SOL SA (Reg. No 125)				Earnings / (losses) after taxes (A)	(40.222)	(14.146)	(43.892)	(14.765)
Type of auditors' report: Unqualified opinion - Material uncertainty related to going concern assumption				Owners of the parent	(41.702)	(15.095)	-	-
					Non-controlling interests	1.480	949	-	-
STATEMENT OF FINANCIAL POSITION (parent company and consolidated)					Other comprehensive income after taxes (Β)	(486)	(3)	(58)	(3)
(Ποσά εκφρασμένα σε χιλιάδες ευρώ)	Group		Company		Total comprehensive income after taxes (Α) + (Β) Owners of the parent	(40.708) (41.897)	(14.149) (15.099)	(43.950) -	(14.768) -
	31.12.2021	31.12.2020	31.12.2021	31.12.2020	Non-controlling interests	1.189	950	-	-
ASSETS
Tangible assets	230.546	263.259	218.413	255.834	Basic earnings / (losses) after taxes per share - (in €)	(0,1855)	(0,0800)	(0,1952)	(0,0783)
Investments in property	1.568	1.748	540	672	Diluted earnings / (losses) after taxes per share - (in €)	(0,1855)	(0,0800)	(0,1952)	(0,0783)
Intangible assets	166	217	166	217	Proposed dividend per share - (in €)	-	-	-	-
Other non-current assets	2.038	2.539	8.830	8.901
Inventories	3.848	2.689	2.327	1.597	Earnings / (losses) before taxes, financing and investing results,
Trade receivables	30.302	30.921	26.103	30.052	depreciation and amortization (EBITDA)	7.030	6.826	4.065	4.781
Other current assets	6.790	6.186	4.819	4.870
Cash & cash equivalents	5.653	11.421	1.643	3.405		CASH FLOW STATEMENT (parent company and consolidated)
TOTAL ASSETS	280.911 318.980 262.841			305.548
					(Amounts in € thousand)	Group		Company
EQUITY & LIABILITIES						from 01.01 to		from 01.01 to
Share capital	67.440	67.440	67.440	67.440		31.12.2021	31.12.2020	31.12.2021	31.12.2020
Other equity items	(121.943)	(80.046)	(119.884)	(75.955)	Operating activities
Equity attributable to shareholders of the parent (a)	(54.503)	(12.606)	(52.444)	(8.515)	Earnings / (losses) before taxes	(40.087)	(13.478)	(43.780)	(14.567)
Non-controlling interests (b)	14.020	13.179	-	-	Adjustments for:
Total Equity (c) = (a) + (b)	(40.483)	573	(52.444)	(8.515)	Depreciation	10.947	11.296	10.123	10.771
Long-term borrowings	-	-	-	-	Grants amortization	(6)	(7)	-	-
Provisions and other long-term liabilities	18.122	16.023	15.029	14.104	(Gain) / loss from disposal of property, plant and equipment	(11)	(6)	-	-
Short-term borrowings	260.099	252.862	260.099	252.862	Provisions	(123)	1.328	2.276	1.247
Other short-term liabilities	43.173	49.522	40.157	47.097	Exchange differences	521	(384)	521	(384)
Total liabilities (d)	321.394	318.407	315.285	314.063	Results of investing activity	25.777	(2.234)	27.402	(2.683)
TOTAL EQUITY AND LIABILITIES (c) + (d)	280.911	318.980	262.841	305.548	Financial expenses (less financial income)	9.510	9.331	9.432	9.342
						6.528	5.846	5.974	3.726
STATEMENT OF CHANGES IN EQUITY (parent company and consolidated)					Adjustments for changes in working capital:
(Amounts in € thousand)	Group		Company		Decrease / (increase) of inventories	(1.275)	445	(730)	450
	31.12.2021	31.12.2020	31.12.2021	31.12.2020	Decrease / (increase) of receivables	(273)	5.578	(742)	5.613
Equity at the beginning of the year (01.01.2021 and 01.01.2020, respectively)	573	4.883	(8.515)	(3.933)	Increase / (decrease) of liabilities (other than borrowings)	(1.011)	(2.088)	(1.424)	(2.630)
Total comprehensive income after taxes	(40.708)	(14.149)	(43.950)	(14.768)
Share capital increase (minus related esxpenses)	-	10.698	-	10.698	Less:
Dividends paid	(348)	(348)	-	-	Interest and financial expenses paid	(1.221)	(1.423)	(1.129)	(1.406)
Other equity movements	-	(511)	21	(512)	Income tax paid	(632)	(516)	(146)	(172)
Equity at the end of the year (31.12.2021 and 31.12.2020, respectively)	(40.483)	573	(52.444)	(8.515)	Cash flows from operating activities (a)	2.116	7.842	1.803	5.581
					Investing activities
ADDITIONAL DATA & INFORMATION					Acquisition of affiliates, securities and other investments	-	(2)	-	(2)
1. Group entities that are included in the consolidated financial statements are presented in note 1 in the annual financial statements as of 31.12.2021, including locations,					Proceeds from the sale of securities and investments	25	51	25	-
percentage Group ownership and consolidation method. 2. The basic accounting principles adopted in the financial statements are consistent with those of the annual					Purchase of tangible and intangible assets	(2.808)	(952)	(26)	(170)
financial statements of 2020, adjusted with the revisions to IFRS. 3. There are no litigious disputes or disputes in arbitration against the Group that could significantly affect the financial position.Τhe recorded relevant provisions as at 31.12.2021 for the Group and the Company amounted to € 1.463 thousand for the Group and the Company. 4.					Proceeds from the sale of property, plant and equipment	13	20	-	-
The number of employees at 31.12.2021 was 658 (598 for the Company) and at 31.12.2020 was 670 (617 for the Company). 5. At the end of the period no shares of the				Interest received	14	36	-	1
parent company were possessed by the parent company neither by any subsidiary or associate company. 6. Group's "other comprehensive income" in the statement of				Dividends received	-	-	163	163
comprehensive income for the year 2021 refer by € 462 thousand to the effect from differences in the revaluation of land after taxes, by € 53 thousand (possitive) to the change of the tax rate on land deferred taxes and by € 77 thousand to actuarial losses after taxes, whereas in 2020 referred totally to actuarial profits after taxes. Other				Cash flow from investing activities (b)	(2.756)	(847)	162	(8)
equity movements" in the statement of changes in equity for year 2020 referred to the impact of the revaluation of the reserve of the convertible bond loan following the
partial conversion of the bond loan. 7. The provisions for the un-audited tax years of the Group companies, which are presented in note 22 of the annual financial statements,					Financing activities
amounted to € 220 thousand (€ 166 thousand for the Company). The accumulated provisions for doubtful debts amounted to € 46.755 thousand for the Group and € 47.560					Procceds from share capital increase	-	-	-	-
thousand for the Company, while the provisions for retirement benefits amounted to € 1.459 thousand for the Group and to € 1.390 thousand for the Company. Other provisions amounted to € 157 thousand gor th Group and € 151 thousand for the Company. 8. The ratio "Earnings / (losses) after taxes per share basic - (in €)" are calculated					Payments for expenses from share capital increase	-	(146)	-	-146
based in the weighted average number of total shares. For the calculation of the diluted earnings per share were taken into account the potential shares from the Parent					Payments of capital leases	(3.918)	(3.573)	(2.911)	(3.573)
company's convertible bond according the relevant terms of issue and the IAS 33 requirements. 9. Intercompany transactions (inflows and outflows) since the beginning of					Payments of operating leases	(224)	(206)	(145)	(132)
the current year and intercompany balances as of 31.12.2021 that have resulted from the transactions with the related parties, as defined by IAS 24, are as follows:					Proceeds from borrowings	-	550	-	-
(Amounts in € thousand)		Group	Company		Payment of borrowings	(671)	(336)	(671)	(336)
a) Inflows		2	5.968		Dividends paid	(315)	(361)	-	-
b) Outflows		3.530	3.595		Cash flow from financing activities (c)	(5.128)	(4.072)	(3.727)	(4.187)
c) Receivables		13.602	17.764
d) Payables		102.531	103.232
e) Key management compensations		1.581	1.317		Net increase / (decrease) in cash and cash equivalents (a) + (b) + (c)	(5.768)	2.923	(1.762)	1.386
f) Receivables from key management		-	-		Cash and cash equivalents at beginning of the year	11.421	8.498	3.405	2.019
g) Payables to key management		13	13		Cash and cash equivalents at the end of the year	5.653	11.421	1.643	3.405
				Chania, 15 April 2022
THE A' VICE CHAIRMAN
		THE MANAGING DIRECTOR			THE CHIEF FINANCIAL OFFICER	THE CHIEF ACCOUNTANT
SPYRIDON I. PROTOPAPADAKIS	IOANNIS I. VARDINOYANNIS
ID No ΑΑ 490648		ID No Π 966572			STYLIANOS I. STAMOS ID No ΑΜ 480641	IOANNIS E. SPANOUDAKIS H.E.C. License No 20599 A' Class

Financial data and information for the period from 1 January 2021 to 31 December 2021

ANEK LINES S.A. No of G.E.C.R.: 121557860000

The following data and information are to provide users with general information for the financial position and the results of operations of ANEK LINES SA and the Group. Therefore, it is recommended to any user, before proceeding to

any kind of investing decision or other transaction with the Company, to visit the Company's web site, where the financial statements and the Auditor's Report, when is reqiuired, are published.

Registered Office: 148 Karamanli Avenue, Chania