Autohellas S.A. — Interim / Quarterly Report 2015

Nov 25, 2015

by the Board of Directors Certified Auditor- Accountant Auditing Firm Type of Auditors`Audit Report : Not Required	: 24 November 2015 : Dimitris Samaras : ECOVIS HELLAS SA
BALANCE SHEET GROUP COMPANY										CASH FLOW STATEMENTS (1st JANUARY UNTIL 30th SEPTEMBER 2015) Figures in € GROUP
	30/09/2015	31/12/2014	30/09/2015	31/12/2014								COMPANY
ASSETS Tangible Assets	290.851.533,40		262.277.135,53 227.105.600,03	205.414.812,46								01.01-30.09.2015 01.01-30.09.2014 01.01-30.09.2015 01.01-30.09.2014
Investment Property Intangible Assets	20.653.379,40 660.298,68	20.544.668,36 795.323,19	24.068.126,22 287.624,93	23.959.415,18 213.617,90					Operating Activities Earning before tax	30.269.860,65	22.377.258,52	25.571.679,72	18.803.353,71
Other Non-current Assets Inventories Trade Receivables	66.936.727,97 1.327.361,69 28.112.273,43	66.390.450,33 1.191.969,07 19.258.180,54	83.704.816,34 448.778,19 22.734.307,54	81.656.814,44 457.706,25 15.350.304,81					Adjustments for: Depreciation & Amortization: Gain (Loss) from Investing Activities	40.471.420,17 -12.959.476,86	37.929.881,10 -5.641.425,35	29.873.215,84 -12.795.220,87	28.579.605,84 -5.244.162,74
Other Assets TOTAL ASSETS	51.178.004,76 459.719.579,33	33.541.843,62	45.138.113,31 403.999.570,64 403.487.366,56	28.062.495,71 355.115.166,75					Provisions Net Exchange Differencies	450.000,00 0,00	432.000,00 0,00	450.000,00 0,00	432.000,00 0,00
									Net Finance	6.272.290,16	5.757.936,18	5.486.795,97	5.088.749,89
OWNER´S EQUITY and LIABILITIES									Share in affiliated companies` result Plus/Minus adjustment for changes in working capital or related to operated	728.974,26	757.646,06	0,00	0,00
Shareholders equity Other components of equity	3.890.400,00 185.540.780,52	3.890.400,00	3.890.400,00 174.883.536,48 153.024.562,29	3.890.400,00 146.318.002,83					activities Increase/(decrease) in inventories	-116.347,44	361.966,24	8.928,06	-2.085,34
Total shareholders equity (a)	189.431.180,52		178.773.936,48 156.914.962,29	150.208.402,83					Increase/(decrease) in trade and other Receivables	-8.612.586,66	-7.216.555,18	-5.136.916,07	-2.960.369,19
Non-controlling interests ( b )	0,00	0,00	0,00	0,00					Increase/(decrease) in liabilities (excluding Banks)	12.827.328,82	14.502.581,47	12.108.006,94	13.445.959,90
Total Equity (c)=(a)+(b)	189.431.180,52		178.773.936,48 156.914.962,29	150.208.402,83					Purchase of renting vehicles	-89.717.707,56	-87.715.363,01	-70.187.828,48	-69.618.382,77
Long Term Borrowing Provisions / Other Long Term	150.056.728,85		133.100.267,91 138.252.506,37	125.329.243,27					Sales of renting vehicles	24.059.211,56	19.247.892,61	20.672.403,58	15.914.304,86
Borrowing	24.194.170,64	26.761.087,33	23.243.301,08	25.468.885,53					Less:
Short-Term Bank Liabilities	37.353.656,34	24.725.766,72	27.000.000,00	16.250.000,00					Interest paid	-5.539.804,33	-10.570.305,21	-4.671.732,84	-9.682.392,39
Other-Short term liabilities Total Liabilities (d) Total Equity and Liabilities	58.683.842,98 270.288.398,81	40.638.512,20	58.076.596,82 225.225.634,16 246.572.404,27	37.858.635,12 204.906.763,92					Taxes paid Net Cash flows from operating activities (a)	-2.887.659,40 -4.754.496,63	-6.091.595,45 -15.868.082,02	-2.550.280,20 -1.170.948,35	-5.592.007,41 -10.835.425,64
(c)+(d)	459.719.579,33		403.999.570,64 403.487.366,56	355.115.166,75					Cash flows from investing activities Acquisition of subsidiaries, affiliations, joint ventures and other investments	-2.740.801,64	-5.916.697,83	-3.513.551,64	-7.916.697,83
				PROFIT AND LOSS					Purchase of tangible and intagible assets	-1.199.381,83	-2.697.435,61	-1.072.300,86	-2.647.448,72
					(1st JANUARY UNTIL 30th SEPTEMBER 2015)				Investment Properties Purchase	-108.711,04	0,00	-108.711,04	0,00
				Figures in €					Proceeds from sales of tangible assets Sale of subsidiaries, affiliations or other	1.229.638,78	822.960,31	1.229.638,78	824.443,51
	01.01.-30.09.15	GROUP 01.01.-30.09.14	01.07.-30.09.15	01.07.-30.09.14	01.01.-30.09.15	01.01.-30.09.14	COMPANY 01.07.-30.09.15	01.07.-30.09.14	investment. Proceeds from interest	0,00 423.758,39	3.248.012,33 1.259.077,37	0,00 341.181,09	3.248.012,33 1.042.060,84
Turnover	135.399.143,62	124.150.096,66	59.159.189,54	57.021.081,71	106.220.141,58	98.412.595,57	48.656.289,27	46.753.530,75	Proceeds from dividends	5.787.521,60	8.198.088,00	6.787.521,60	8.798.088,00
Gross Profit Earnings before tax , financial and	40.531.447,43	37.652.193,77	25.195.725,49	24.884.200,07	29.844.581,87	27.574.133,13	20.209.838,13	20.178.326,09	Net cash flow from investing activities (b) Cash flows from financing activities	3.392.024,26	4.914.004,57	3.663.777,93	3.348.458,13
investment activities Earnings before tax	31.483.603,47 30.269.860,65	28.342.623,57 22.377.258,52	22.414.563,58 20.108.395,60	21.766.410,54 19.661.605,54	24.270.954,09 25.571.679,72	22.341.886,41 18.803.353,71	18.663.236,66 16.716.091,83	18.521.847,11 16.859.523,37	Proceeds from borrowings	187.720.942,09	1.400.000,00	181.241.850,00	0,00
Earnings After Tax (A)	22.959.468,75	17.161.283,29	15.342.409,22	14.891.363,29	18.848.257,89	14.174.481,75	12.261.622,75	12.476.047,29	Loan repayments	-158.781.757,51	-30.905.063,94	-157.977.909,91	-30.000.000,00
- Equity holders of the Parent	22.959.468,75	17.161.283,29	15.342.409,22	14.891.363,29	0,00	0,00	0,00		0,00 Dividends paid	-9.679.952,80	0,00	-9.679.952,80	0,00
- Non-controlling interest Other Profit/loss for the period after tax (Β)	0,00 -2.622.271,91	0,00 8.901.815,05	0,00 1.860.023,15	0,00 2.897.180,91	0,00 -2.461.745,63	0,00 9.063.437,05	0,00 1.912.799,45	0,00 2.951.054,91	Net cash flow from financing activities (c) Net increase in cash and cash equivalents (a)+(b)+(c)	19.259.231,78 17.896.759,41	-29.505.063,94 -40.459.141,39	13.583.987,29 16.076.816,87	-30.000.000,00 -37.486.967,51
Total Profit/loss for the period after tax (Α) + (Β)									Cash and cash equivalents at the beginning of the period	15.160.387,89	64.389.954,78	11.067.567,83	59.199.862,86
- Equity holders of the Parent - Non-controlling interest	20.337.196,84 20.337.196,84 0,00	26.063.098,34 26.063.098,34 0,00	17.202.432,37 17.202.432,37 0,00	17.788.544,20 17.788.544,20 0,00	16.386.512,26 0,00 0,00	23.237.918,80 0,00 0,00	14.174.422,20 0,00 0,00	15.427.102,20 0,00 0,00	Cash and cash equivalents at the end of the period	33.057.147,30	23.930.813,39	27.144.384,70	21.712.895,35
Net earnings per share - basic (€)	1,8975	1,4227	1,2680	1,2345	1,5577	1,1751	1,0134	1,0343
Earnings (losses) before tax,financial activities,investing activities and depreciations	71.955.023,64	66.272.504,67	36.524.177,21	25.098.957,62	54.144.169,93	50.921.492,25	28.968.769,71	28.560.812,94	Additional Information 1. Group companies with their relevant addresses their participation percentages and their method of consolidation in the consolidated tables are mentioned in note 2 of the financial report. There aren´t any companies which are not included in the consolidation Following its latest participation (20/03/2015) in the share capital increase of Cretan Golf SA, Autohellas SA holds a 30.148% interest and this investment has become an associate and is reported in the financial statements through the equity method (as from Q1 2015) Autohellas total participation value is € 5,210,692.92.(Note 7 Financial Statements). 2. Fiscal years that have not been tax audited are mentioned in note 16. For non tax-audited fiscal years a provision of € 200.538 has been made for the group and company. There are no litigations or any rule of court which might have an important impact on the financial position of AUTOHELLAS SA 3. Number of employees on the 30.09.15 :Group 696 ,Company 415, on the 30.09.14 Group 652,Company 397. 4. There are no "Other provisions" for the group or company until 30.09.2015 5. The amount of sales and purchanges, (of goods and services) from the beginning of the period and the receivables and payables
	STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD 01.01-30.09.2015 Figures in €								between the Group and the Company according to the IAS 24 are as follows : Figures in € a) Income b ) Expenses c) Receivables d ) Liabilities e) Board members and key management personnel remuneration & other benefits 1.847.293,98 f) Receivables from key management personnel and Board members g) Amounts owed to key management personnel and Board members		Group Company 10.222.863,31 13.521.824,55 19.628.362,15 26.927.816,71 2.152.813,18 319.600,71 0,00 0,00	3.441.585,55 7.416.042,34 1.727.318,83 0,00 0,00
	GROUP		COMPANY						6. Investment for the period 01.01-30.09.2015 was : Group € 90 mill., Company € 70.3 mill. 7. Company holds 57.559 own shares with purchase value € 256,131.46 and fair value € 633,149.00 (note 15 financial statements). 8. Other income after taxes are analyzed as follows :		Group		Company
	30/09/2015	30/09/2014	30/09/2015	30/09/2014					Other income after taxes a) Transferred to the Income Statement Foreign exchange rate differences Income Tax (a1)Earnings/loss for the period :		30/9/2015 30/9/2014	30/9/2015	30/9/2014
Balance at the beginning of the Year (01.01.2015 & 01.01.2014 respectively)	178.773.936,48		151.104.264,33 150.208.402,83	128.343.833,85					Earnings/loss for the period Income Tax Transfer in the results b) Not transferred to the Income Statement		-1.497.438,16 12.247.887,91 -805.470,05 -3.184.450,86	-1.497.438,16 -805.470,05	12.247.887,91 -3.184.450,86
Total profit after tax Dividends paid	20.337.196,84 -9.679.952,80	26.063.098,34 0,00	16.386.512,26 -9.679.952,80	23.237.918,80 0,00					(b1)Revaluation of tangible / intagible assets Fixed Assets Revaluation Readjustment Losses Readjustment Taxes		-161.624,97 -168.041,03	-161.622,00 0,00 0,00 -168.041,03	0,00 0,00
Balance at the end of the period (30.09.2015 & 30.09.2014 respectively)	189.431.180,52		177.167.362,67 156.914.962,29	151.581.752,65					(b2) Actuarial Earnings & Losses Earnings/loss for the period Income Tax Other income after taxes Total Income after taxes		0,00 10.302,30 -2.622.271,91 8.901.815,05 20.337.196,84 26.063.098,34	0,00 0,00 0,00 9.203,61 -2.461.745,63 16.386.512,26	0,00 0,00 9.063.437,05 23.237.918,80
		Kifissia, 24th of November 2015							9. The Board o f Directors o f «AUTOHELLAS SA TOURISM AND TRADE COMPANY», «VELMAR TRADING & REPRESANTATIONS - GREEK COMMERCIAL & INDUSTRIAL ANONYMOUS COMPANY» and «TECHNOCAR COMMERCIAL & INDUSTRIAL ANINYMOUS COMPANY SA» at its meeting o n 28.02.2015 decided to start the process o O n 29.06.2015 the meeting o f the Board o f Directors o		f merger by absortion o	f «VELMAR SA», and «TECHNOCAR SA». f their decisions made o	n the 28.02.2015,
PRESIDENT	VICE PRESIDENT FINANCIAL MANAGER & MANAGING DIRECTOR				ACCOUNTING MANAGER				f the above companies approved: a) The modification o only i n relation to the definition o f the date o f valuation balance sheet so that the latter will finally be set at 30/04/2015 and b)the repetition o f the required actions by the Merging Companies and the auditors appointed o n 02.28.2015, i n order the Merging Companies to prepare the valuation balance sheet, draft merger agreement and explanatory report to shareholders and the auditors to prepare their respective reports, taking further account o f the re determined valuation balance sheet date. The General Meetings o f AUTOHELLAS SA, VELMAR SA & TECHNOCAR SA, o n 15.09.2015, approved the merger through absorption o f VELMAR SA & TECHNOCAR SA by AUTOHELLAS SA. Is still expected the completion and the signing o f the Merger Agreement. The merger i s expected to be completed this year with the approval by the Ministry o f Development and Competitiveness and the Communication entry i n GEMI/MAE o f that approval decision. These mergers have been proposed to be based o n the provisions o f Law 2190/1920, the L4172/2013 and the relevant provisions of the ATHEX Regulation. (Note 2 Financial Statements).