Anek Lines S.A.

Interim / Quarterly Report • Sep 25, 2020

STATEMENT OF FINANCIAL POSITION (parent company and consolidated)					TOTAL COMPREHENSIVE INCOME (parent company and consolidated)
Group Company (Amounts in € thousand)					Group Company (Amounts in € thousand)
	30.06.2020	31.12.2019	30.06.2020	31.12.2019		from 01.01 to			from 01.01 to
ASSETS						30.06.2020	30.06.2019	30.06.2020	30.06.2019
Tangible assets	268.047	270.453 1.753	260.946 675	263.271 678
Investments in property Intangible assets	1.750 243	268	243	268	Turnover Gross profit	55.377 1.464	72.503 8.780	50.232 245	66.093 7.038
Other non-current assets	2.544	3.885	8.601	9.956	Earnings / (losses) before taxes, financing and investing results (EBIT)	(7.872)	(2.502)	(7.694)	(2.614)
Inventories	2.595	3.156	1.154	2.047	Earnings / (losses) before taxes (EBT)	(12.601)	(7.030)	(12.283)	(6.934)
Trade receivables	38.037	34.201	37.328	33.282	Earnings / (losses) after taxes (A)	(12.859)	(7.421)	(12.391)	(7.047)
Other current assets	10.958	8.720	9.257	7.026	Owners of the parent	(13.163)	(7.902)
Cash & cash equivalents	9.584	8.498	2.501	2.019	Minority interests	304	481	-	-
TOTAL ASSETS	333.758	330.934	320.705	318.547	Other comprehensive income after taxes (Β)	-	-	-	-
EQUITY & LIABILITIES					Total comprehensive income after taxes (Α) + (Β)	(12.859)	(7.421)	(12.391)	(7.047)
Share capital	56.597	56.597	56.597	56.597	Owners of the parent	(13.163)	(7.902)	-	-
Other equity items	(78.966)	(65.804)	(74.414)	(62.023)	Minority interests	304	481	-	-
Equity attributable to shareholders of the parent (a)	(22.369)	(9.207)	(17.817)	(5.426)
Minority interests (b)	12.495	12.538	-	-	Earnings / (losses) after taxes per share basic - (in €)	(0,0698)	(0,0419)	(0,0657)	(0,0374)
Total Equity (c) = (a) + (b)	(9.874)	3.331	(17.817)	(5.426)	Earnings / (losses) after taxes per share diluted - (in €)	(0,0494)	(0,0292)	(0,0464)	(0,0259)
Long-term borrowings Provisions and other long-term liabilities	- 19.817	- 19.371	- 18.343	- 17.852	Earnings before taxes, financing and investing results, depreciation and amortization (EBITDA)	(2.299)	3.173	(2.380)	2.829
Short-term borrowings	259.056	258.708	259.056	258.708
Other short-term liabilities	64.759	49.524	61.123	47.413
Total liabilities (d)	343.632	327.603	338.522	323.973	CASH FLOW STATEMENT (parent company and consolidated)
TOTAL EQUITY AND LIABILITIES (c) + (d)	333.758	330.934	320.705	318.547	(Amounts in € thousand)	Group			Company
						from 01.01 to			from 01.01 to
						30.06.2020	30.06.2019	30.06.2020	30.06.2019
STATEMENT OF CHANGES IN EQUITY (parent company and consolidated)					Operating activities Earnings / (losses) before taxes	(12.601)	(7.030)	(12.283)	(6.934)
(Amounts in € thousand)	Group		Company		Adjustments for:
	30.06.2020	30.06.2019	30.06.2020	30.06.2019	Depreciation	5.577	5.707	5.314	5.443
Equity at the beginning of the period (01.01.2020 and					Grants amortization	(4)	(32)	-	-
01.01.2019, respectively)	3.331	(8.869)	(5.426)	(7.844)	Provisions	2.091	192	2.077	184
Total comprehensive income after taxes	(12.859)	(7.421)	(12.391)	(7.047)	Exchange differences	14	108	14	108
Dividents paid	(346)	(347)	-	-	Results of investing activity	(2.024)	(99)	(2.212)	(389)
Other equity movements	-	8.960	-	-	(Profits) / losses from fixed assets' sales	(1)	-	-	-
Equity at the end of the period (30.06.2020 and					Financial expenses (less financial income)	4.608	4.593	4.619	4.600
30.06.2019, respectively)	(9.874)	(7.677)	(17.817)	(14.891)		(2.340)	3.439	(2.471)	3.012
					Adjustments for changes in working capital:
					Decrease / (increase) of inventories	550	(4)	893	287
					Decrease / (increase) of receivables	(4.848)	(15.400)	(4.893)	(14.721)
ADDITIONAL DATA AND INFORMATION					Increase / (decrease) of liabilities (other than borrowings)	10.513	19.337	9.466	17.724
1. Group entities that are included in the consolidated financial statements are presented in note 1 in the semi annual financial statements as of					Less:
30.06.2020 including locations, percentage Group ownership and consolidation method. It is noted that from 30.06.2020 the Group's financial statements are inclunded under the net equity method to the consoliated financial statements of PIRAEUS BANK due to ΑΝΕΚ's inclusion in the portfolio of					Interest and financial expenses paid	(633)	(4.053)	(628)	(4.035)
Bank's associates. 2. The basic accounting principles adopted in the financial statements, are consistent with those of the annual financial				Income tax paid	(99)	(78)	(99)	(78)
statements as at 31.12.2019 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. The recorded relevant provisions for the Group and the Company amounted to € 763 thousand.					Cash flows from operating activities (a)	3.143	3.241	2.268	2.189
4.The number of employees at 30.06.2020 was 755 for the Group (696 for the Company) and at 30.06.2019 was 890 (824 for the Company). 5. At					Investing activities
the end of the period no shares of the parent company were possessed by the parent company neither by any subsidiary or associate company. 6.The provisions for the un-audited tax years of the Group companies, which are presented in note 10 of the interim financial statements,					Acquisition of affiliates, securities and other investments	-	(604)	-	(604)
amounted to € 275 thousand (€ 215 thousand for the Company). The accumulated provisions for doubtful debts amounted to € 45.406 thousand					Proceeds from the sale of securities and other investment	-	-	-	-
for the Group and € 44.050 thousand for the Company, while the provisions for retirement benefits amounted to € 2.803 thousand for the Group					Purchase of tangible and intangible assets	(209)	(735)	(8)	(533)
and € 2.638 thousand for the Company. Other provisions for the Group and the Company at 30.06.2020 amounted to € 3.032 thousand. 7. The ratio "Earnings / (losses) after taxes per share basic - (in €)" are calculated based in the weighted average number of total shares. For the calculation of					Proceeds from the sale of property, plant and equipment	18	24	-	-
the diluted earnings per share were taken into account the potential shares from the Parent company's convertible bond according the relevant					Interest received	18	1	1	1
terms of issue and the IAS 33 requirements. 8. "Other equity movements"in statement of changes in Equity for the first half of 2019 refer to the effect of the cessation of the consolidation of subsidiary LANE. 9. Intercompany transactions (inflows and outflows) since the beginning of the					Dividents received	-	-	-	-
current year and intercompany balances that have resulted from the transactions with the related parties, as defined by IAS 24, are as follows:					Cash flow from investing activities (b)	(173)	(1.314)	(7)	(1.136)
(Amounts in € thousand)		Group	Company		Financing activities
a) Inflows		1	4.201		Payments for capital leases	(935)	(916)	(935)	(916)
b) Outflows		1.604	1.635		Payments for operational leases	(137)	(168)	(57)	(67)
c) Receivables		22.626	27.355		Proceeds from borrowings	-	-	-	-
d) Payables		103.944	104.070		Payment of borrowings	(787)	(770)	(787)	(770)
e) Key management compensations		759	614		Dividends paid	(25)	(210)	-	-
f) Receivables from key management		-	-		Cash flow from financing activities (c)	(1.884)	(2.064)	(1.779)	(1.753)
g) Payables to key management		14	12		Net increase / (decrease) in cash and cash equivalents (a) + (b) + (c)	1.086	(137)	482	(700)
					Cash and cash equivalents at beginning of the period	8.498	7.349	2.019	2.298
					Cash and cash equivalents at end of the period	9.584	7.212	2.501	1.598
					Chania, 25 September 2020
THE VICE CHAIRMAN		THE MANAGING DIRECTOR					THE CHIEF ACCOUNTANT
					THE CHIEF FINANCIAL OFICCER
SPYRIDON I. PROTOPAPADAKIS
ID. No. ΑΑ 490648		IOANNIS I. VARDINOYANNIS ID. No. Π 966572			STYLIANOS I. STAMOS		IOANNIS E. SPANOUDAKIS H.E.C. License No. 20599/A' CLASS
					ID. No. Μ 068570

Certified auditors - accountants: Diamantoulakis Emmanouil (SOEL Reg. No: 13101) - Kollyris Nikolaos (SOEL Reg. No: 35591)

Type of auditors' review report: Unqualified conclusion - Material Uncertainty Related to Going Concern

Company's website: www.anek.gr

Date of approval of the interim financial statements by the Board of Directors: September 25, 2020

ANEK LINES S.A.

No of G.E.C.R.: 121557860000

Registered Office: 148 Karamanli Avenue, Chania

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.

Auditing Firms: GRANT THORNTON (Reg. No 127), SOL SA (Reg. No 125)

Financial data and information for the period 1 January 2020 - 30 June 2020

(according to 4/507/28.04.2009 resolution of Greek Capital Commitee)

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