Fourlis S.A.

Quarterly Report • Sep 30, 2015

					The figures illustrated below aim to give summary information about the financial position of Fourlis Holdings S.A and its subsidiaries. We advise, before making any investment decision or other transaction concerning the company, to visit the company's web site (www.fourlis.gr) in which the financial statements according to international Financial Reporting Standards are presented. The website also contains the auditor's report whenever required.
Headquarters Company Reg. No. Supervising Authority Date of approval of the interim financial statements Auditors Auditing Firms Type of Report	: 340 Kifissias av., 154 51, N. Psychiko : 13110/06//86/01 : Ministry of Development, (Department for Limited Companies) : 8 May 2006 : ISAIAH K. THEODORIDIS and NIKOLAOS EPAM. VOUNISEAS : SOL S.A. CHARTERED AUDITORS and KPMG KYRIACOU CHARTERED AUDITORS S.A. : Not Required ABRIDGED BALANCE SHEET Amounts in thousand				President and CEO - executive member Vice President - executive member Member - executive member Member - non executive member Member - non executive member Member - independent non executive member Member - independent non executive member	Board of Directors : Vassilios Fourlis : Alexandros Fourlis : Dafni Fourlis : Odysseus Demetriades : Ioannis Brebos : Eftichios Vassilakis : Ioannis Papaioannou
					INCOME STATEMENT Amounts in thousand
	GROUP 31/03/2006	31/12/2005	COMPANY 31/03/2006	31/12/2005		GROUP 1/1-31/3/2006	1/1-31/3/2005	1/1-31/3/2006	COMPANY 1/1-31/3/2005
ASSETS Non current assets Property, plant and equipment	96.340	96.832	6	6	Turnover Gross Profit Profit/(Loss) before interest and taxes	92.741 27.793 7.548	83.037 25.196 6.771	0 0 -88	0 0 -368
Intangible assets Investments Other non current receivables Deferred Taxes	4.510 579 6.482 1.155	4.714 500 6.440 1.260	39 90.383 163 0	47 90.383 163 43	Profit/(Loss) before interest, taxes, depreciation and amortisation Profit/(Loss) before taxes Less taxes Profit/(Loss) after taxes	9.271 6.531 2.384 4.147	8.949 5.538 1.975 3.563	-79 8.152 -6 8.158	-360 -453 4 -457
Total non current assets Current assets Investments	109.066 0	109.746 0	90.591 0	90.642 0	Attributable to:
Inventories Income tax receivables Trade and other receivables Cash and cash equivalents	72.454 745 88.595 7.900	76.130 0 98.436 8.396	0 731 8.975 110	0 748 644 90	Shareholders Minority interest Net Profit (after tax) per share - basic (in )	4.115 32 0,08	3.477 86 0,07	8.158 0 0,16	-457 0 -0,01
Total current assets Non current assets classified as available for sale TOTAL ASSETS	169.694 38.261 317.021	182.962 38.231 330.939	9.816 9.379 109.786	1.482 9.379 101.503	CASH FLOW STATEMENT Amounts in thousand
SHAREHOLDERS EQUITY Total equity attributable to equity holders of the parent Share capital	50.953	50.953	50.953	50.953		GROUP 1/1-31/3/2006	1/1-31/3/2005	1/1-31/3/2006	COMPANY 1/1-31/3/2005
Share premium reserve Reserves Retained earnings/ Accumulated losses	11.931 49.006 -13.654 98.236	11.931 47.966 -16.877 93.973	12.208 27.934 8.870 99.965	12.208 27.934 712 91.807	Operating Activities Profit before taxes Plus / less adjustments for:	6.531	5.538	8.152	-453
Minority Interest Total shareholders equity	409 98.645	378 94.351	0 99.965	0 91.807	Depreciation Provisions Results (revenue, expenses, profit and loss) from investment activity Interest charges and other related expenses	1.723 4.654 0 1.017	2.178 0 0 1.233	9 12 -8.323 82	8 0 0 85
LIABILITIES Non current laibilities					Plus / less adjustments for changes in working capital: Decrease / (increase) in inventories	3.957	-5.020	0	0
Interest bearing loans and borrowings Employee retirement benefits Provisions Deferred taxes	68.459 1.098 0 2.342	61.047 858 0 2.259	0 16 0 6	0 14 0 55	Decrease / (increase) in receivables (Decrease) / increase in liabilities (excluding banks) Less: Interest charges and other related expenses paid	12.457 -39.848 -1.343	9.680 -26.663 -1.233	9 -65 -82	121 -59 -85
Other Long-term Liabilities Short-term Liabilities	161 72.060	161 64.325	158 180	158 227	Paid taxes Total inflow / (outflow) from operating activities (a) Investment Activities	-30 -10.882	-285 -14.572	0 -205	-4 -387
Interest bearing loans and borrowings Short-term portion of non current interest bearing loans and borrowings Income tax payable Trade and other payables	62.398 2.982 13.898 67.038	57.957 2.786 7.475 104.045	9.462 0 0 179	9.237 0 0 232	Acquisition of subsidiaries, affiliates, joint ventures and other investments Purchase of tangible and intangible fixed assets Proceeds from the sale of property, plant and equipment and intangible assets Proceeds from dividends	-79 -1.027 2 0	0 927 0 0	0 0 0 0	6 -9 0 0
Total liabilities TOTAL SHAREHOLDERS EQUITY AND LIABILITIES	146.316 218.376 317.021	172.263 236.588 330.939	9.641 9.821 109.786	9.469 9.696 101.503	Purchase of other investments Interest Received Proceeds from the sale of other investments Total inflow / (outflow) from investing activities (b)	-34 596 0 -542	0 0 0 927	0 0 0 0	0 0 0 -3
Notes:					Financing activities Proceeds from issued loans Loans paid off	202.344 -190.755	0 -7.601	54.253 -54.028	0 379
1. Group companies with their corresponding addresses and their percentage of participation included in the consolidated financial statements, together with their non tax audited financial years, are as follows: Full consolidation method:					Payments of leasing liabilities Paid-in dividends Total inflow / (outflow) from financing activities ©	-677 0 10.912	-531 0 -8.132	0 0 225	0 0 379
GENCO TRADE S.R.L. GENCO BULGARIA L.T.D. PRIME TELECOM S.A. HOUSEMARKET S.A.	Boucharest, Romania Sofia, Boulgaria Athens Athens	100.00% 100.00% 82.91% 100.00%	1999-2005 1999-2005 2000-2005 2000-2005		Net increase / (reduction) in cash and cash equivalents for the period (a) + (b) + © Opening balance, cash and cash equivalents Cash and cash equivalents from not consolidated company Effect of foreign exchange differences on Cash	-512 8.396 0 16	-21.777 32.912 0 0	20 90 0 0	-10 133 0 0
FOURLIS TRADE S.A. INTERSPORT ATHLETICS S.A. AUTOMATE S.A.	Athens Athens Athens	100.00% 100.00% 91.39%	2003-2005 2000-2005 2003-2005		Closing balance, cash and cash equivalents	7.900	11.135	110	123
EUROELECTRONICS S.A. SERVICE ONE S.A TRADE LOGISTICS S.A. H.M HOUSEMARKET (CYPRUS) LTD	Athens Athens Athens Nicosia, Cyprus	78.53% 99.00% 99.99% 100.00%	2003-2005 2001-2005 2005 2005
Equity Method A.T.C. ABETE SPEEDEX .. * Companies held indirectly	Athens Athens	45.43% 49.496%	2003-2005 2000-2005		STATEMENT OF CHANGES IN NET EQUITY Amounts in thousand GROUP COMPANY
2. The total number of employees at the end of current period was 1.689 for the Group and 3 for the company. 3. The basic accounting principles applied are consistent with those applied for the financial year from 01/01/2005 until 31/12/2005. 4. The assets of the Group and the company are free of mortgages and pre-notations.					Equity balance at the begining of period, (1/1/2006 and 1/1/2005 respectively).	31/03/2006 94.351	31/03/2005 70.538	31/03/2006 91.807	31/03/2005 88.752
5. Despite the fact that the Group holds the 20% of the company, P. Kotsovolos S.A., and two non-executive members participate in the seven-member Board of Directors of the company, the Group does not have a controlling influence on the financial and operating activities of the company nor does determine its internal procedures. Moreover it does not have access to the accounting books and other financial data of the Company. Consequently, as					Distributed Dividends Profit / (loss) of the period, after taxes Reserve from assets revaluation Net Income recorded directly in net equity	0 4.147 0 0	0 3.563 0 247	0 8.158 0 0	-5.095 8.150 0
the Group does not have a controlling position in the company, it does not consolidate the shareholders' equity of the Group P. Kotsovolos S.A. in its financial statements, but indicates its investment in the company in the acquisition value, applying International Financial Reporting Standard No. 5 in retrospect and describing its investment as a saleable asset.					Minority aquisition of Assosiate Company Foreign exchange differences from the translation of financial statements in foreign currencies Equity, end of period (31/03/2006 and 31/12/2005 respectively)	0 147 98.645	0 0 74.348	0 0 99.965	0 0 91.807

The President of the BOD and Managing Director	The Vice-President of the BOD	Neo Psychiko, 8 May 2006	The General Manager	The Chief Accountant
VASSILIOS STIL. FOURLIS ID No. S-700173	ALEXANDROS I. FOURLIS ID No. T-125925		IOANNIS A. KOLITSIS D/ 327466	SOTIRIOS I. MITROU ID No. P-135469 Chartered Acc. Licence No. 30609 A Class

FOURLIS HOLDINGS S.A. Company Reg. No. 13110/06/-/86/01 Figures and information of the group and the company from 1st January 2006 until 31st March 2006

6.The amounts of sales and purchases of the company and the Group to and from the associate companies, from the beginning of the financial period are in total - 149 thousand, - 2 thousand and - 1 thousand, - 70 thousand respectively. The rest of the receivables and liabilities of the Company and the Group with the associate companies, at the end of the current are - 258 thousand, - 214 thousand, and - 1 thousand,- 31 thousand respectively. 7. There are no litigations, which have an important impact on the financial position of Fourlis Group and the Company.

8. Basic earnings per share have been calculated using the weighted average number of shares at the balance sheet date. 9. The interim financial statements 01/01/2006 - 31/03/2006 have been approved by the Board of Directors on the 8th May 2006.

10. On 31/03/2006 the following affiliate companies, were included in the consolidated finacial statements. The affilate companies have been established

from subsidiary companies as follows: a) TRADE LOGISTICS S.A. 99,99% subsidiary of FOURLIS TRADE S.A. b) H.M.HOUSEMARKET (CYPRUS) LTD 100% subsidiary of HOUSEMARKET S.A. The above mentioned companies were consolidated with full consolidation method based on their financials as of 31/03/2006