Intracom S.A. Holdings

Quarterly Report • Oct 5, 2015

- Alexandros Tziotzis (L.C./ Accociation of Certified Auditors 12371) Certified Auditors Accountants: - Zoi D. Sofou (L.C./ Accociation of Certified Auditors 4701)					COMPANY'S INFORMATION DATA
- Ioannis Mistakidis (L.C./ Accociation of Certified Auditors 16511)
- "SOL" S.A. CERTIFIED AUDITORS ACCOUNTANTS Certified Auditing Firms: - ERNST & YOUNG (HELLAS) S.A. CERTIFIED AUDITORS ACCOUNTANTS
With no qualification Type of Review Opinion: www.intracom.com Web address:
	CONDENSED BALANCE SHEET						CONDENSED INCOME STATEMENT
	Amounts in € thousands						Amounts in € thousands
		GROUP	COMPANY					GROUP
						Continuing	Jan 1st- Jun 30th 2006 Discontinued		1/1-30/6/2005	1/4-30/6/2006	1/4-30/6/2005
ASSETS	30/6/2006	31/12/2005	30/6/2006	31/12/2005		Operations	Operations	Total
Non-current assets Inventories	407.022 56.388	414.357 157.193	406.323 -	491.707 -	Sales Gross profit	159.964 30.023	171.548 45.227	331.512 75.250	258.174 84.601	170.640 39.013	134.597 40.878
Trade receivables	341.883	593.864	20.018	7.300	Profit before tax, financing and investing results	12.838	6.784	19.622	12.687	6.074	2.042
Other assets	173.919	142.819	187.977	194.885	Profit before tax, financing and investing results and depreciation Profit before tax	21.987 9.728	17.302 1.343	39.289 11.071	29.268 11.869	16.007 1.446	10.464 661
TOTAL ASSETS	979.212	1.308.233	614.318	693.892	Less income tax expense Profit/Loss after Tax	9.246 482	752 591	9.998 1.073	2.099 9.769	6.758 -5.312	-59 719
LIABILITIES					Profit/Loss for the period from the disposal of sub-group		- -19.148	-19.148	-	-19.148	253
Long-term liabilities Short-term bank borrowings	49.348 127.942	31.592 318.757	398 19.535	1.133 91.675	Profit after tax	482	-18.557	-18.075	9.770	-24.460	973
Other short-term liabilities Total liabilities (a)	171.106 348.396	296.552 646.901	51.673 71.606	62.073 154.881	Attributable to: Equity holders of the Company	691	-18.665	-17.974	10.809	-24.908	1.372
Share Capital	611.099 19.717	633.522 27.810	542.712 -	539.011 -	Minority interest	-209 482	108 -18.557	-101 -18.075	-1.039 9.770	448 -24.460	-399
Minority interests Total equity (b)	630.816	661.332	542.712	539.011	Earnings After Tax per share - basic (in €)			-0,14	0,07	-0,18	973 0,01
TOTAL EQUITY AND LIABILITIES (a) + (b)	979.212	1.308.233	614.318	693.892				COMPANY
								1/1-30/6/2006	1/1-30/6/2005	1/4-30/6/2006	1/4-30/6/2005
NOTES: 1. Except for the Parent Company, details about group companies that are included in the consolidated financial statements (names, locations,					Sales			13.329	182.776	7.708	93.303
percentage of ownership (direct) and method of consolidation) are presented below:					Gross profit Profit before tax, financing and investing results			2.917 15.351	63.815 15.926	2.359 3.170	29.628 3.727
Company	% holding	Method of consolidation		Country	Profit before tax, financing and investing results and depreciation Profit before income tax			17.162 15.098	28.107 16.330	4.090 2.250	9.878 2.664
∗ INTRACOM S.A. DEFENSE ELECTRONIC SYSTEMS	100,00	PURCHASE		HELLAS	Less income tax expense			9.187	1.994	6.362	-540
∗ HELLAS ON LINE	100,00	PURCHASE		HELLAS	Profit/Loss for the period from continuing operations			5.911	14.336	-4.112	3.204
∗ MOLDOVAN LOTTERY ∗ INTRACOM HOLDINGS INTERNATIONAL LTD (*) (GROUP)	32,85 100,00	EQUITY PURCHASE		MOLDAVIA CYPRUS	Attributable to:
− INTRACOM TECHNOLOGIES LTD (SUBGROUP)	100,00	PURCHASE		CYPRUS	Equity holders of the Company			5.911	14.336	-4.112	3.204
− FORNAX R.T. (SUBGROUP)	67,00	PURCHASE		HUNGARY	Earnings After Tax per share - basic (in €)			5.911 0,04	14.336 0,11	-4.112 -0,04	3.204 0,02
− FORNAX INTEGRATOR − FORNAX INFORMATIKA DOO CROATIA	100,00 100,00	PURCHASE PURCHASE		HUNGARY CROATIA
− FORNAX SLOVAKIA	100,00	PURCHASE		SLOVAKIA
− INTRACOM OPERATIONS LTD (SUBGROUP) − INTRACOM GROUP USA INC	100,00 100,00	PURCHASE PURCHASE		CYPRUS USA			CONDENSED CASH FLOW STATEMENT Amounts in € thousands
∗ INTRACOM S.A. TELECOM SOLUTIONS (GROUP)	49,00	EQUITY		HELLAS				GROUP			COMPANY
− INTRACOM BULGARIA S.A.	100,00	PURCHASE		BULGARIA				1/1-30/6/2006	1/1-30/6/2006	1/1-30/6/2006	1/1-30/6/2006
− INTRACOM SVYAZ LTD − INTRACOM DOO SKOPJE	100,00 100,00	PURCHASE PURCHASE		RUSSIA FYROM	Operating activities
− INTRALBAN SHA	95,00	PURCHASE		ALBANIA	Profit Before Tax			11.071	11.869	15.098	16.331
− INTRAROM S.A.	74,23	PURCHASE		ROMANIA	Plus / Minus Adjustments for:
− INTRACOM TELECOM HOLDINGS INTERNATIONAL (SUBGROUP) L − INTRACOM MIDDLE EAST LLC	100,00 100,00	PURCHASE PURCHASE		CYPRUS UAE	Depreciation Provisions / Impairment			19.667 -304	16.581 327	1.811 -744	12.181 327
− CONKLIN CORPORATION	100,00	PURCHASE		USA	Exchange differences			294	-2.013		- -
− INTRACOM DOO BELGRADE	100,00	PURCHASE		SERBIA	Results (income, expenses, profits and losses) from investing activities			-12.860	-8.687	-11.442	-8.612
− INTRACOM DOO ARMENIA − INTRACOM TELECOM TECHNOLOGIES LTD (*)	100,00 100,00	PURCHASE PURCHASE		ΑΡΜΕΝΙΑ CYPRUS	Interest expense and related costs / Interest income and related income Plus / Minus Adjustments for Working Capital Changes			10.794	8.598	678	7.010
− INTRACOM TELECOM OPERATIONS LTD (*)	100,00	PURCHASE		CYPRUS	related to operating activities.
∗ INTRACOM S.A. INFORMATION TECHNOLOGY &COM(GROUP)	100,00	PURCHASE		HELLAS	Decrease / (increase) in inventories			-5.585	-10.390	-	-6.519
− DIALOGOS S.A. − INTRACOM JORDAN LTD	51,00 80,00	PURCHASE PURCHASE		HELLAS JORDAN	Decrease / (increase) in receivables Decrease / (increase) in liabilities (other than banks)			-75.256 49.605	-32.760 17.002	69.427 -27.488	-32.428 3.040
− GLOBAL NET SOLUTIONS LTD	100,00	PURCHASE		BULGARIA	Less:
− INTRACOM EXPORTS LTD (SUBGROUP) − INTRACOM CYPRUS LTD	100,00 100,00	PURCHASE PURCHASE		CYPRUS CYPRUS	Interest expenses and related costs paid Income Tax paid			-9.643 -9.148	-10.095 -3.240	-678 -7.426	-8.344 -2.529
− INTRASOFT INTERNATIONAL S.A. (SUBGROUP)	99,99	PURCHASE		LUXEMBURG	Total inflow / (ouflow) from operating activities (a)			-21.365	-12.808	39.236	-19.543
− PEBE S.A.	100,00	PURCHASE		BELGIUM	Investing activities
− INTRASOFT S.A. − INTRASOFT INTERNATIONAL S.A. (BELGIUM)	100,00 100,00	PURCHASE PURCHASE		HELLAS BELGIUM	Acquisition of subsidiaries, associates, joint ventures and other investments Purchase of PPE and intangible assets			72.556 -17.907	-8.917 -17.681	86.734 -2.893	-8.679 -13.171
− SWITCHLINK NV	65,16	PURCHASE		BELGIUM	Proceeds from sales of PPE and intangible assets			65	246	121	194
− UNIBRAIN S.A (SUBGROUP)	29,98	EQUITY		HELLAS	Interest received			945	1.497	94	1.333
− UNIBRAIN INC − GANTEK S.A.	100,00 20,00	PURCHASE EQUITY		USA TURKEY	Dividends received Total (outflow)/ inflow from investing activities (b)			- 55.659	415 -24.440	84.056	- - -20.323
∗ INTRAKAT S.A. (GROUP)	73,55	PURCHASE		HELLAS	Financing activities
− INMAINT S.A.	60,00	PURCHASE		HELLAS	Proceeds from issue of share capital			-1.994	13.848	-1.994	13.627
	51,00	PURCHASE PURCHASE		HELLAS ROMANIA	Proceeds from borrowings Repayments of borrowings			56.699 -35.729	- -12.770	- -72.150	1.549 -
− KEPA ATTIKIS S.A. − INTRACOM CONSTRUCT S.A.	87,46			ROMANIA	Repayment of finance leases			-837	-1.041	-3	-498
− INTRAKAT ROMANIA S.R.L.	100,00	PURCHASE			Dividends paid					-257	-173
− EUROKAT S.A.	82,00	PURCHASE		HELLAS				-517	-714
− INTRADEVELOPMENT S.A. − J/V MOHLOS - ΙΝΤRAKAT (TENNIS)	100,00 50,00	PURCHASE EQUITY		HELLAS HELLAS	Total inflow / outflow from financing activities (c) Net increase / (decrease) in cash and cash equivalents			17.622	-677	-74.404
− J/V MOHLOS - INTRAKAT (SWIMMING)	50,00	EQUITY		HELLAS	for the period (a) + (b) + (c )			51.916	-37.925	48.888
− J/V PANTHESSALIKOU STADIOU	15,00	EQUITY		HELLAS	Cash and cash equivalents at beginning of period			95.832	139.516	66.862
− J/V ELTER - INTRAKAT − J/V INTRAKAT - GANTZOULAS	45,00 50,00	EQUITY EQUITY		HELLAS HELLAS	Exchange Differences in Cash and cash equivalents Cash and cash equivalents at end of period			- 147.748	1.378 102.969	115.750	-
− J/V ELTER - INTRAKAT - ENERGIA	40,00	EQUITY		HELLAS
− J/V "ATH. TECHNIKI-PRISMA DOMI" - INTRAKAT	50,00	EQUITY		HELLAS
− J/V INTRAKAT-ERGAS-ALGAS − J/V INTRAKAT - ELTER (MAINTENANCE OF N. SECTOR)	33,33 50,00	EQUITY PROPORTIONAL		HELLAS HELLAS
− J/V INTRAKAT - ΑΤΤΙΚΑΤ (EGNATIA ROAD)	50,00	PROPORTIONAL		HELLAS
− J/V INTRAKAT - ELTER (ALEXANDROUPOLI's PIPELINE) − J/V INTRAKAT - ELTER (XIRIA PROJECT)	50,00 50,00	PROPORTIONAL PROPORTIONAL		HELLAS HELLAS							14.505 -25.361 108.836 - 83.475

− J/V INTRAKAT - ΕLTER (PROJECT OF NATURAL GAS FACILITIES) (*) 30,00 HELLAS

(*) Consolidated for the first time in this period

In this ending period the consolidation method of INTRACOM S.A.TELECOM SOLUTIONS has been changed due to the transfer of the company's shares by 51%. 2. The Account 'Profit/Loss from subgroup sale' in the group's Condensed Income Statement as at 1/1-30/6/2006 includes the amount of 19,1 mil. € that derived

from the sale of a subsidiary company per 51%. The amount is the result between the received price and the Shareholders Equity in the consolidated

	statement of the company sold.		GROUP		COMPANY
	3. Interim Financial Satements have been prepared based on the Accounting Principles as described in the annual audited Financial Statements of 31/12/2005,		30 June 2006	30 June 2005	30 June 2006	30 June 2005
6.	available on the company's official website(www.intracom.com). 4. The Company's tax returns have been audited by the tax authorities up to and including the fiscal year 2004. The remaining Greek companies included in the consolidation have been audited as follows: a) INTRACOM S.A. INFORMATION TECHNOLOGY & COMMUNICATION SERVICES up to the year 2002, b) INTRACOM S.A.TELECOM SOLUTIONS have been audited up to the year 2002, c) INTRACOM S.A. DEFENSE ELECTRONIC SYSTEMS has not been audited since its incorporation, d) INTRADEVELOPMENT SA has completed its second fiscal year in 2005 and has not been audited yet, e) DIALOGOS S.A.has been audited up to the fiscal year 2002 f) INTRAKAT SA (parent company) up to the year 2000, whereas its subsidiaries AETHERAS ENERGY, IN.MAINT, KEPA ATTIKIS S.A and the Joint Ventrures included in its group financial statements have not been audited since their incorporation. 5. There are no legal disputes or cases on arbitration which may materially affect the financial position of the Company. There are no pledges on the Company's assets 7. Number of employees at the end of the current period: Company 139, Group 5.648. 8. Total intercompany sales and purchases by the Company to Group companies for the current period amounted to € 10.473 th. and € 866 th. respectively, whereas the balances receivable and payable by/ to Group companies at the end of the current period amounted to € 25.866 th. and € 5.865 th. respectively. Total intercompany sales and purchases by the Group to the Company cumulatively amounted to € 25.759 th.	Balance at the beginning of period (1/1/2006 and 1/1/2005 respectively) Adjustment to previous period Effect of adoption of IAS 32/ 39 Equity on 1/1/2006 and 1/1/2005 respectively Currency Translation Differences Issue of share capital / minus expenses Distributed Dividends Re-valuation of buildings Impairement of available-for-sale investments Effect of changes in the group structure Effect of participations/affiliates not included in the consolidation at 30/6/2005	661.332 - 661.332 - 661.332 -659 -29 -261 - - -9.194 -	691.195 -7.832 683.363 -25.360 658.003 229 14.882 -13.126 3.778 327 -2.089 -373	539.011 539.011 - 539.011 -29 - - - -	608.662 - - 608.662 -24.445 584.217 - - 13.627 -13.126 - - 327 - -
	whereas the Group's balances receivable and payable by/ to Group companies amounted to thous. € 4.676 and thous. € 834 respectively.	Purchase of treasury shares	-1.964	-	-1.964	-
	9. Financial Statements have been approved by the Board of Directors during its session of 30/08/2006.	Fair value gains on available-for-sale investments	-334	440	-216	285
	10. On December 31st 2005, the spin-off procedure of the parent company's segments has been completed, and parent company has been transformed	Loss for the period, after Tax	-18.075	9.769	5.910	14.336
	to Holdings Company. Therefore, amounts of this ending period, for the parent company, are not comparable to relevant amounts, for the period ending 30/06/2005.	Balance at the end of period (30/6/2006 and 30/6/2005 respectively)	630.816	671.840	542.712	599.666
		Peania August 30th 2006
	THE CHAIRMAN VICE CHAIRMAN OF THE BOARD OF DIRECTORS OF THE BOARD OF DIRECTORS AND CEO	THE GENERAL MANAGER AND ACCOUNTING MANAGER MEMBER OF THE BOARD OF DIRECTORS
	S.P. KOKKALIS Κ. G. DIMITRIADIS ID. No P 695792/31.10.1991 ID. No Ι 208019/07.08.1974	Ι. Κ. TSOUMAS D.Χ. KLONIS ID. No Ρ 499862/27.12.1994 ID. No Ρ 539675/06.11.1995 License no. 637 Class Α'

INTRACOM HOLDINGS SA (Ledger No SA 13906/06/Β/86/20) (Ledger No SA 13906/06/Β/86/20) 19 km MARKOPOULOU AVE., GR-19002, PEANIA ATHENS

Concise financial information for the period from 1 January 2006 to 30 June 2006

PROPORTIONAL