Fourlis S.A.

Interim / Quarterly Report • Sep 23, 2015

Website address : www.fourlis.gr Date of Approval of Financial Statements : 23 November 2009 30/09/09 31/12/08 30/09/09 31/12/08 1/01 - 30/09/2009 1/01 - 30/09/2008 1/07 - 30/09/2009 1/07 - 30/09/2008 1/01 - 30/09/2009 1/01 - 30/09/2008 1/07 - 30/09/2009 1/07 - 30/09/2008 Assets Νon-current assets Property plant and equipment 188.680 212.487 72 71 Revenue 512.123 546.393 196.042 196.531 0 0 0 0 Investment Property 19.713 23.822 0 0 Cost of Goods Sold -352.630 -378.732 -135.563 -132.606 0 0 0 0 Intangible Assets 12.175 5.145 79 35 Gross Profit Gross Profit 159.493 167.661 159.493 167.661167.661 60.479 60.479 60.479 63.925 63.92563.925 000 00 00 000 Investments 9.863 95 88.474 88.267 Other operating income 16.000 23.951 4.848 16.184 1.667 13.030 296 12.540 Long Term receivables 9.182 5.065 137 180 Distribution expenses -110.682 -105.881 -41.001 -38.860 0 0 0 0 Deferred Taxes 1.753 1.244 52 46 Administrative expenses -21.606 -24.228 -8.799 -8.637 -1.604 -1.238 -482 -405 Total non-current assets 241.365 247.858 88.814 88.814 88.599 Other operating expenses -3.284 -5.051 -728 -1.753 -128 -20 -5 0 Current assets Operating Profit 39.921 56.452 39.921 56.45256.452 14.800 14.800 14.800 30.859 30.85930.859 -65 -65-65 11.772 11.77211.772 -191 -191-191 12.135 12.135 Inventory 119.328 110.655 0 0 Income tax receivable 15.051 12.767 4.106 3.281 Finance costs -9.543 -12.064 -2.419 -4.135 -1 -1 0 -1 Trade receivables 107.531 139.582 271 482 Finance Income 2.538 2.514 658 696 1.013 581 162 99 STATEMENT OF COMPREHENSIVE INCOME (Consolidated & Stand alone ) amounts in thousand € STATEMENT OF FINANCIAL POSITION GROUP STAND ALONE (Consolidated & Stand alone ) amounts in thousand € GROUP STAND ALONE

Other receivables													0
	16.279	24.504	147		319 Expense/income from associate companies	-236	0	62	0	6.000	11.000	0
Cash & cash equivalent	70.059	104.218	23.996		40.343 Profit before Tax	32.681 32.681	46.902 46.902	13.101 13.101 13.101	27.420 27.420	6.947 6.947	23.352 23.352 23.352	-29 -29	12.233
Non current assets classified as held for sale	2	49	0	47
Total current assets	328.249	391.774	28.520 28.520		44.472 Income tax	-9.260	-12.506	-3.246	-7.454	-655	-3.163	3	-3.133
Total Assets	569.614	639.633 639.633	117.334 117.334 117.334		133.071 133.071 Net Income (A)	23.420 23.420	34.39634.396 34.396	9.854 9.8549.854	19.966 19.96619.966	6.292 6.2926.292	20.189 20.18920.189	-26 -26-26	9.100 9.100
Shareholders Equity
					Attributable to:
Share Capital	50.953	50.953	50.953		50.953 Parent company	23.051	33.979	9.665	19.841	6.292	20.189	-26	9.100
Share premium reserve	11.864	11.864	12.208		12.208 Non - controlling interest	369	417	190	125	0	0	0	0
Reserves	66.870	64.152	30.660		29.151 Net Income (A)	23.420 23.420	34.39634.396 34.396	9.854 9.8549.854	19.966 19.96619.966	6.292 6.2926.292	20.189 20.18920.189	-26 -26-26	9.100 9.100
Retained earnings	76.383	74.784	20.356		33.664 Other comprehensive income
Total equity (a)	206.070	201.754 201.754	114.177 114.177 114.177		125.976 125.976 Foreign currency translation from foreign operations	-379	-346	-10	-280	0	0	0	0
					Effective portion of changes in fair value of cash flow hedg
Non - controlling interest (b)	852	944	0	0	es	-245	0	-320	0	0	0	0	0
Total Equity (c)=(a)+(b)	206.922	202.698	114.177 114.177		125.976 Comprehensive Income after Tax (B)	-624	-346 -624 -346	-330 -330-330	-280 -280 -280	000	00	00	000
Liabilities					Total Comprehensive Income after tax (A)+(B) Comprehensive Income after tax (A)+(B)	22.796 22.796 22.796	34.050 34.050	9.524 9.524	19.686 19.686	6.292 6.292	20.189 20.189 20.189	-26 -26	9.100 9.100
Non current Liabilities					Attributable to:
Loans and borrowings	62.829	87.054	0		0 Parent company	22.427	33.633	9.335	19.561	6.292	20.189	-26	9.100
Employee retirement benefits	2.161	1.855	28		24 Non - controlling interest	369	417	190	125	0	0	0	0
Provisions	252	265	0	0
Deferred Taxes	5.350	4.940	0		0 Basic Earnings per Share (in Euro)	0,4524	0,6669	0,1897	0,3894	0,1235	0,3962	-0,0005	0,1786
Other non-current liabilities	4.123	164	121		163 Diluted Earnings per Share (in Euro)	0,4490	0,6669	0,1881	0,3894	0,1226	0,3962	-0,0006	0,1786
Total non current Liabilities	74.715	94.278 74.715	148		187 187 EBITDA	47.637 47.637	63.928 63.928	17.378 17.378 17.378	33.624 33.624	-48 -48	11.782 11.78211.782	-185 -185	12.138
Current Liabilities
Loans and borrowings	63.629	67.114	0		0 Notes :
Current portion of non-current loans and borrowings	49.236	91.585	0	0	1.The basic accounting principles applied are consistent with those applied for the Annual Financial Statements of 31/12/2008.
Income Tax Payable	17.184	20.550	2.455		5.924 2. There is no requirement for an Auditors Independent Report on Review of Condensed Interim Financial Information.
Accounts payable and other current liabilities	157.928	163.408	553		984 3.The assets of the Group and the Company are free of mortgages and pre-notations.
Total current Liabilities	287.977	342.657	3.009		6.908 4.There are no litigations, which have an important impact on the financial position of Fourlis Group and the Company.
Total Liabilities (d)	362.692	436.935	3.157 3.157		7.095 5.The total headcount for Group and Company is as follows : Group 3.159 ( 9 months 2008 / 2.963), Company 5 ( 9 months 2008 / 4 ).
Total Equity & Liabilities (c) + (d)	569.614	639.633	117.334 117.334		133.071 6.Subsidiary Companies, their location, Fourlis Holdings share participation along with the method of consolidation in the Interim Financial Statements 1/1-30/9/2009 are as below :
					a)Full Consolidation Method
STATEMENT OF CHANGES IN EQUITY					FOURLIS HOLDINGS S.A	Athens		Holdings
(consolidated and stand alone ) amounts in thousand €					HOUSEMARKET S.A	Athens		100.00%
					H.M HOUSEMARKET (CYPRUS) LTD*	Nicosia, Cyprus		100.00%
	GROUP			STAND ALONE	RENTIS S.A*	Athens		100.00%
	30/09/09	30/09/08	30/09/09	30/09/08	INTERSPORT ATHLETICS S.A	Athens		100.00%
					INTERSPORT ATHLETICS (CYPRUS) LTD*	Nicosia, Cyprus		100.00%
Balance at the end of period (1/1/2009 and 1/1/2008 respectively)	202.698	151.038	125.976		112.564 FOURLIS TRADE S.A	Athens		100.00%
Total comprehensive income for the period	22.796	34.048	6.292		20.189 EUROELECTRONICS S.A *	Athens		78.53%
Dividends to equity holders					-15.286 PRIME TELECOM S.A	Athens		82.91%
	-18.807	-15.407	-18.343
Stock option plan	235	16	253		16 GENCO TRADE S.R.L.	Bucarest, Romania		100.00%
Balance at the end of period (30/9/2009 and 30/9/2008 respectively)	206.922 206.922	169.695 169.695	114.177 114.177		117.483 117.483 SERVICE ONE S.A *	Athens		99,94%
					TRADE LOGISTICS S.A*	Athens		100.00%
					GENCO BULGARIA L.T.D	Sofia, Bulgaria		100.00%
CASH FLOW STATEMENT					HOUSE MARKET BULGARIA EAD*	Sofia, Bulgaria		100.00%
(consolidated and stand alone ) amounts in thousand €					WYLDES LTD*	Nicosia, Cyprus		100.00%
					b)Net Equity Method
	GROUP			STAND ALONE	SPEEDEX S.A	Athens		49,55%
	1/01 -	1/01 -	1/01 -	1/01 -
	30/0/2009	30/09/2008	30/09/2009	30/09/2008
					VYNER LTD*	Nicosia, Cyprus		50,00%
Operating Activities					*Indicating Companies where Fourlis Holdings S.A has an indirect participation.
Net profit before taxes	32.681	46.902 32.681 46.902	6.947 6.947 6.947	23.352 23.352
Adjustments for:					7.The Non Audited Fiscal years for the Group Companies are listed under Note 11 of the Interim Financial Statements.The periodic (9 months 2009) provisions related
Depreciation	7.716	7.476	17		10 to the non audited Fiscal years amount 425 th.€ for both the Group and the Company.
Provisions	1.271	1.213	54		15 8.The accumulated provisions for the Group include, in addition to the aforementioned amounts, €252 th. for compensation payments re guarantees for products sold.
Foreign exchange differences	772	-17			9.The Consolidated Interim Financial Statements of 30.09.2009 in addition to the corresponding 30.09.2008 include the following :1) WYLDES LIMITED Nicosia Cyprus,
Results (Income, expenses, profit and loss) from investment activity	-5.038	-12.956	-7.746		-23.778 being a 100% subsidiary of the subsidiary Housemarket S.A. 2) VYNER LTD Nicosia Cyprus being a 50% subsidiary of Wyldes Ltd.
Interest Expense	8.011	10.037	1
					1 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.
Plus/less adj for changes in working capital related to the operating activitie					10.Earnings per Share have ben calculated based on the weighted avergage number of Shares outstanding.
s:s: s:
Decrease / (increase) in inventory	-9.724	-41.442	0		0 11.Annual Related Party Transactions as per IAS 24 are as below
Decrease / (increase) in trade and other receivables	33.472	28.188	-266	-134
(Decrease) / increase in liabilities (excluding banks)	-2.755	-28.723	-473	-8		30/9/2009
Less:						GROUP	STAND ALONE
Interest paid	-9.543	-9.876	-1		-1 Outflows	0	912
Income taxes paid	-14.309	-15.500	-4.269		-2.836 Inflows	193	3
Net cash generated from operations (a)	42.555	-14.698	-5.736		-3.379 Receivables	0	256
Investing Activities					Liabilities	48	2
Purchase of subsidiaries and related companies	-9.768	0	0		0 Board of Directors' Fees	1.079	36
Purchase of tangible and intangible fixed assets	-15.609	-45.144	-67		-24 Management Compensation and Expenses	433	433
Proceeds from disposal of tangible and intangible assets	0	153	0	0
Interest Received	2.608	1.012	1.013		580 There are no demands from or obligations towards Fourlis Group or Fourlis Holdings S.A from BoD members and Managers
Proceeds from dividends	0	0	6.000	0
Proceeds from the sale of other investments	33.310		780	11.000			Neo Psychiko November, 23 2009
Total inflow / (outflow) from investing activities (b)	10.541	-43.979	7.726 7.726	11.556
Financing Activities					The Chairman of the BOD					The CEO
Proceeds from issued loans	66.643	186.251
Repayment of loans	-134.684	-135.999	0
Repayment of leasing liabilities	-386	-1.981
Dividends paid	-18.801	-15.407	-18.337	-15.286	Vassilios Stil. Fourlis ID No. Σ-700173					Apostolos D. Petalas ID No Π-319553

Theodore G. Poulopoulos ID No. ΑΖ -547722

The Finance Manager Planning & Controlling

Chartered Acc. License No. 36611 Class

ID No. Π-135469

Chartered Acc. License No. 30609 A Class

Cash and cash equivalents at the beginning of the period 104.218 70.483 40.343 21.885 The Chief Accountant

Closing balance, cash and cash equivalents 70.059 44.536 44.536 23.996 23.996 23.996 14.776 14.776 Sotirios Mitrou

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

Net increase/(decrease) in cash and cash equivalents for the period (a)+(b)+(c) -34.132 in cash for the (a)+(b)+(c) -34.132 -34.132 -25.813 -25.813 -16.347 -16.347 -16.347 -7.109 -7.109

Effect of exchange rate fluctuations on cash held -27 -134