Intracom S.A. Holdings

Quarterly Report • Sep 28, 2015

					Upon decision 2/396/31-08-2006 of Capital Market Committee BoD
					The purpose of the financial information set out below is to provide an overview of the financial position and financial results of INTRACOM HOLDINGS SA and INTRACOM GROUP. We advice the reader, before making any investment decision or other transaction with the Company, to visit the Company's website (www.intracom.com)where the interim financial statements prepared in accordance with
International Financial Reporting Standards together with the audit review of the independent auditors, whenever this is required, are presented.
Certified Auditors Accountants: Alexandros E. Tziortzis (L.C./ Accociation of Certified Auditors 12371), Zoe Sofou (L.C./ Accociation of Certified Auditors 14701) -
Ioannis G. Mystakidis (L.C./ Accociation of Certified Auditors 16511) Certified Auditing Firms: "SOL" S.A. CERTIFIED AUDITORS ACCOUNTANTS -
ERNST & YOUNG (HELLAS) S.A. CERTIFIED AUDITORS ACCOUNTANTS. Type of Review Opinion: With no qualification
Web Address: www.intracom.com
Date of approval of the periodic financial statements by the BoD : August 29, 2007
	CONDENSED BALANCE SHEET Amounts in € thousands					CONDENSED INCOME STATEMENT Amounts in € thousands
		GROUP		COMPANY			GROUP
ASSETS	30-Jun-07	31-Dec-06	30-Jun-07	31-Dec-06		Jan 1st - Jun 30th 2007 Jan 1st - Jun 30th 2006 Apr 1st - Jun 30th 2007 Apr 1st - Jun 30th 2006
Non-current assets	354.399	352.482	400.587	400.987	Sales	182.851	146.058	93.999	77.550
Inventories	51.391	49.648	-	-	Gross profit (loss)	29.509	28.712	9.546	16.971
Trade receivables	272.551	292.149	26.133	23.976	Profit/(loss) before income tax, financing, investing results and depreciation	9.737	23.535	3.682	9.313
Other assets	346.836	222.957	139.932	143.208	Profit/(loss) before income tax, financing and investing results	2.562	16.646	-30	5.931
TOTAL ASSETS	1.025.177	917.236	566.652	568.171	Profit/(loss) before income tax Less income tax expense	2.941 3.700	13.935 3.647	-162 1.965	3.727 866
					Profit/(Loss) after Tax from continuing operations (a)	-759	10.288	-2.127	2.861
LIABILITIES					Profit/(Loss) after Tax from discontinued operations (b)	-8.021	-28.363	-5.822	-27.321
Long-term liabilities Short-term bank borrowings	35.282 87.936	41.615 82.150	501 3.489	441 4.337	Profit/Loss after Tax (continuing and discontinued operations) (a) + (b)	-8.780	-18.075	-7.949	-24.460
Other short-term liabilities	335.560	209.922	40.977	26.529	Attributable to:
Total liabilities (a)	458.778	333.687	44.967	31.307	Equity holders of the Company	-8.584	-17.974	-7.594	-24.908
Share Capital (b) Minority interest (c)	540.802 25.597	563.352 20.197	521.685 -	536.864 -	Minority interest	-196 -8.780	-101 -18.075	-355 -7.949	448 -24.460
Total equity (d) = (b) + (c)	566.399	583.549	521.685	536.864	Earnings After Tax per share - basic (in €)	-0,08	-0,14	-0,06	-0,19
TOTAL EQUITY AND LIABILITIES (a) + (d)	1.025.177	917.236	566.652	568.171		Jan 1st - Jun 30th 2007Jan 1st - Jun 30th 2006 Apr 1st - Jun 30th 2007 Apr 1st - Jun 30th 2006	COMPANY
ADDITIONNAL DATA AND INFORMATION:					Sales	6.998	13.329	3.521	7.708
Except for the Parent Company, details about group companies that are included in the consolidated financial statements percentage of 1.					Gross profit (loss)	381	2.917	136	2.359
ownership (direct) and method of consolidation are presented below:					Profit/(loss) before income tax, financing, investing results and depreciation	1.876	17.792	1.425	4.720
COMPANY		PERCENTAGE %	METHOD OF CONSOLIDATION	COUNTRY	Profit/(loss) before income tax, financing and investing results	21	15.981	500	3.800
∗ INTRACOM S.A. DEFENSE ELECTRONIC SYSTEMS		100,00	PURCHASE	HELLAS	Profit/(loss) before income tax	2.775	15.728	1.515	2.880
∗ HELLAS ON LINE S.A.	(GROUP)	100,00	PURCHASE	HELLAS	Less income tax expense	593	2.633	358	-192
− ATTICA TELECOMMUNICATIONS S.A. (*) ∗ MOLDOVAN LOTTERY		100,00 32,85	PURCHASE EQUITY	HELLAS MOLDOVA	Profit/(Loss) after Tax from continuing operations (a) Profit/(Loss) after Tax from discontinued operations (b)	2.182 -770	13.095 -7.184	1.157 -770	3.072 -7.184
∗ INTRACOM HOLDINGS INTERNATIONAL LTD	(GROUP)	100,00	PURCHASE	CYPRUS	Profit/Loss after Tax (continuing and discontinued operations) (a) + (b)	1.412	5.911	387	-4.112
− INTRACOM TECHNOLOGIES LTD	(SUBGROUP)	100,00	PURCHASE	CYPRUS	Earnings After Tax per share - basic (in €)	0,01	0,04	0,00	-0,03
− FORNAX R.T. − FORNAX INTEGRATOR	(SUBGROUP)	67,00 100,00	PURCHASE PURCHASE	HUNGARY HUNGARY
− FORNAX INFORMATIKA DOO CROATIA		100,00	PURCHASE	CROATIA		CONDENSED CASH FLOW STATEMENT
− FORNAX SLOVAKIA		100,00	PURCHASE	SLOVAKIA		Amounts in € thousands
− INTRACOM OPERATIONS LTD − INTRACOM GROUP USA INC	(SUBGROUP)	100,00 100,00	PURCHASE PURCHASE	CYPRUS USA	Indirect Method	GROUP Jan 1st - Jun 30th 2007Jan 1st - Jun 30th 2006 Jan 1st - Jun 30th 2007 Jan 1st - Jun 30th 2006			COMPANY
∗ INTRACOM S.A. TELECOM SOLUTIONS	(GROUP)	49,00	EQUITY	HELLAS
− INTRACOM BULGARIA S.A.		100,00	PURCHASE	BULGARIA	Operating activities
− INTRACOM SVYAZ LTD − INTRACOM DOO SKOPJE		100,00 100,00	PURCHASE PURCHASE	RUSSIA FYROM	Profit (Loss) Before incomeTax (from continuing and discontinued operations) Plus / Minus Adjustments for:	-8.065	-8.077	2.005	15.098
− INTRALBAN SHA		95,00	PURCHASE	ALBANIA	Depreciation	7.175	19.667	1.855	1.811
− INTRAROM S.A.		73,68	PURCHASE	ROMANIA	Provisions	-2.177	-304	63	-744
− INTRACOM TELECOM HOLDINGS INTERNATIONAL LTD	(SUBGROUP)	100,00	PURCHASE	CYPRUS	Exchange differences	504	294		-
− INTRACOM MIDDLE EAST LLC − CONKLIN CORPORATION		100,00 100,00	PURCHASE PURCHASE	UAE USA	Results (income, expenses, profits and losses) from investing activities Interest expense and related costs	4.945 4.299	6.288 10.794	-5.588 119	-11.442 678
− INTRACOM TELECOM SOLUTIONS S.R.L. (*)		100,00	PURCHASE	MOLDOVA	Plus / Minus Adjustments for Working Capital Changes
− INTRACOM DOO BELGRADE		100,00	PURCHASE	SERBIA	related to operating activities.
− INTRACOM DOO ARMENIA − INTRACOM TELECOM TECHNOLOGIES LTD		100,00 100,00	PURCHASE PURCHASE	ARMENIA CYPRUS	Decrease / (increase) in inventories Decrease / (increase) in receivables	-312 -11.058	-5.585 -75.256	- -4.891	- 69.427
− INTRACOM TELECOM OPERATIONS LTD		100,00	PURCHASE	CYPRUS	Decrease / (increase) in liabilities (other than banks)	19.329	49.605	7.132	-27.488
∗ INTRACOM S.A. INFORMATION TECHNOLOGY &COMMUNICATION S (GROUP)		100,00	PURCHASE	HELLAS	Less:
− CONTENT AND DATA BANK S.A. (former AETHERAS ENERGY S.A.)		90,00	PURCHASE	HELLAS	Interest expenses and related costs paid Income Tax paid	-4.299 -1.830	-9.643 -9.148	-119 -526	-678 -7.426
− DIALOGOS S.A.		39,00	PURCHASE	HELLAS	Total inflow / (ouflow) from operating activities (a)	8.511	-21.365	50	39.236
− INTRACOM JORDAN LTD		80,00	PURCHASE	JORDAN	Investing activities
− GLOBAL NET SOLUTIONS LTD − INTRACOM EXPORTS LTD	(SUBGROUP)	100,00 100,00	PURCHASE PURCHASE	BULGARIA CYPRUS	Acquisition of subsidiaries, associates, joint ventures and other investments Purchase of PPE and intangible assets	30.502 -7.968	72.556 -17.907	27.844 -1.458	86.734 -2.893
− INTRACOM CYPRUS LTD		100,00	PURCHASE	CYPRUS	Proceeds from sales of PPE and intangible assets	302	65	9	121
− INTRASOFT INTERNATIONAL S.A. − PEBE S.A.	(SUBGROUP)	99,99 100,00	PURCHASE PURCHASE	LUXEMBOURG BELGIUM	Interest received Dividends received	587 -	945 -	174 600	94 -
− INTRASOFT S.A.		100,00	PURCHASE	HELLAS	Total (outflow)/ inflow from investing activities (b)	23.423	55.659	27.169	84.056
− INTRASOFT INTERNATIONAL S.A. (BELGIUM)		100,00	PURCHASE	BELGIUM	Financing activities
− SWITCHLINK NV − UNIBRAIN S.A.	(SUBGROUP)	65,16 29,98	PURCHASE PURCHASE	BELGIUM HELLAS	Proceeds from issue of share capital Proceeds from borrowings	-3.521 18.965	-1.994 56.699	-3.521 -	-1.994 -
− UNIBRAIN INC		100,00	PURCHASE	USA	Repayments of borrowings	-22.101	-35.729	-845	-72.150
					Repayment of finance leases	-330	-837	-6	-3
∗ INTRAKAT S.A. − INMAINT S.A.	(GROUP)	73,55 60,00	PURCHASE PURCHASE	HELLAS HELLAS	Dividends paid Total inflow / outflow from financing activities (c)	-277 -7.264	-517 17.622	-135 -4.507	-257 -74.404
− KEPA ATTIKIS S.A.		51,00	PURCHASE	HELLAS	Net increase / (decrease) in cash and cash equivalents
− INTRACOM CONSTRUCT S.A.		87,46	PURCHASE	ROMANIA	for the period (a) + (b) + (c )	24.670	51.916	22.712	48.888
− INTRAKAT ROMANIA S.R.L.		100,00	PURCHASE	ROMANIA	Cash and cash equivalents at beginning of period	115.477	95.832	72.531	66.862
− EUROKAT S.A. − INTRADEVELOPMENT S.A.		82,00 100,00	PURCHASE PURCHASE	HELLAS HELLAS	Exchange differences in cash and cash equivalents Cash and cash equivalents at end of period	- 140.147	- 147.748	- 95.243	- 115.750
− J/V MOHLOS-INTRAKAT (TENNIS)		50,00	EQUITY	HELLAS
− J/V MOHLOS-INTRAKAT (SWIMMING) − J/V PANTHESSALIKOU STADIOU		50,00 15,00	EQUITY EQUITY	HELLAS HELLAS		STATEMENT OF CHANGES IN EQUITY
− J/V ELTER-INTRAKAT		45,00	EQUITY	HELLAS		Amounts in € thousands
− J/V INTRAKAT - GANTZOULAS		50,00	EQUITY	HELLAS		GROUP			COMPANY
− J/V ELTER-INTRAKAT-ENERGIA		40,00	EQUITY	HELLAS	Balance at the beginning of period (1/1/2007 and 1/1/2006 respectively)	30-Jun-07 583.549	30-Jun-06 661.332	30-Jun-07 536.864	30-Jun-06 539.011
− J/V "ATH. TECHNIKI-PRISMA DOMI" - INTRAKAT − J/V INTRAKAT - AIRGAZ-ALGAS		50,00 33,33	EQUITY EQUITY	HELLAS HELLAS	Profit/ (Loss) for the period, after tax	-8.780	-18.075	1.412	5.911
− J/V INTRAKAT - ELTER (N. SECTOR MAINTENANCE)		50,00	PROPORTIONAL	HELLAS	Increase / (decrease) of share capital	-12	-29	-12	-29
− J/V INTRAKAT - ΑΤΤΙΚΑΤ (EGNATIA ROAD) − J/V INTRAKAT - ELTER (ALEXANDROUPOLI's PIPELINE)		50,00	PROPORTIONAL	HELLAS	Dividends paid	-13.269	-261 -334	-13.126	- -217
− J/V INTRAKAT - ELTER (XIRIA PROJECT)		50,00 50,00	PROPORTIONAL PROPORTIONAL	HELLAS HELLAS	Net income recognised directly in equity Purchase of treasury shares	2.973 -3.509	-1.964	56 -3.509	-1.964
− J/V INTRAKAT - ELTER (ARTA's DETOUR PROJECT)		30,00	PROPORTIONAL	HELLAS	Change in participation in subsidiaries	4.257	-9.194	-	-
− J/V INTRAKAT - ΕLTER (PROJECT OF NATURAL GAS FACILITIES)		30,00	PROPORTIONAL	HELLAS	Currency Translation Differences	1.190	-659	-	-
− J/V INTRAKAT - ΕLTER (PROJECT OF NATURAL GAS FACILITIES IN ATTIKA NORTHEAST & SOUTH)		49,00	PROPORTIONAL	HELLAS	Balance at the end of period (30/6/2007 and 30/6/2006 respectively)	566.399	630.816	521.685	542.712

− J/V INTRAKAT - INTRACOM TELECOM (PUBLIC POWER NETWORK) 70,00 HELLAS

− J/V INTRAKAT - ELTER (BROADBAND NETWORKS ) 50,00 HELLAS Amounts in € thousands − J/V INTRAKAT - ΕLTER (PROJECT OF NATURAL GAS FACILITIES IN SCHOOLS) (*) 50,00 HELLAS Jan 1st - Jun 30th 2007Jan 1st - Jun 30th 2006 Apr 1st - Jun 30th 2007 Apr 1st - Jun 30th 2006 − J/V INTRAKAT - ΕLTER (PROJECT OF NATURAL GAS FACILITIES 2007 IN ATTIKA Sales 17.246 185.454 9.521 93.089 NORTHEAST & SOUTH-AREA 4) (*) 50,00 HELLAS Gross profit (loss) -933 46.538 361 22.042 − J/V INTRAKAT - ELTER (EXT. OF NATURAL GAS DISTRIBUTION NETWORK) (*) 50,00 HELLAS Profit/(loss) before income tax, financing, investing results and depreciation -9.584 -3.394 -5.593 -12.454 − J/V ΑΚΤOR -LOBBE TZILALIS-EUROKAT (ILIOS MAINTENANCE) (*) 33,33 HELLAS Profit/(loss) before income tax -11.006 -22.012 -6.645 -21.428 GROUP

− J/V ΑΚΤOR - PANTECHNIKI S.A. - INTRAKAT (J/V MOREAS) (*)	13,33 PROPORTIONAL	HELLAS	Less income tax expense	-2.985	6.351	-823	5.893
(*) Consolidated for the first time in this period due to incorporation the Joint Ventures and INTRACOM TELECOM SOLUTIONS S.R.L. and due to purchase the company			Profit/(Loss) after Tax from discontinued operations	-8.021	-28.363	-5.822	-27.321
ATTICA TELECOMMUNICATIONS S.A The subgroup UNIBRAIN S.A. has been fully consolidated for the first time in current period, whereas in the previous period
had been consolidated by equity,due to IAS 27 (de facto control).					COMPANY
The company GANTEK S.A has not been consolidated in current period due to transfer.			Amounts in € thousands	Jan 1st - Jun 30th 2007Jan 1st - Jun 30th 2006 Apr 1st - Jun 30th 2007 Apr 1st - Jun 30th 2006
2. Interim Financial Satements have been prepared based on the Accounting Principles as described in the annual audited Financial Statements of 31/12/2006,			Sales	-	-	-	-
available on the company's official website(www.intracom.com).			Gross profit (loss)	-	-	-	-
3. The Company's tax returns have been audited by the tax authorities up to and including the fiscal year 2004, whereas the remaining Greek companies included			Profit/(loss) before income tax, financing, investing results and depreciation	-770	-630	-770	-630
in the consolidation have been audited as follows: a) INTRACOM S.A. INFORMATION TECHNOLOGY & COMMUNICATION SERVICES up to the year 2004,		Profit/(loss) before income tax	-770	-630	-770	-630
b) INTRACOM S.A.TELECOM SOLUTIONS has been audited up to the year 2002, c) INTRACOM S.A. DEFENSE ELECTRONIC SYSTEMS has not been audited since its incorporation,		Less income tax expense	-	-6.554	-	-6.554
d) HELLAS ON LINE S.A.has been audited up to the year 2004,e) DIALOGOS S.A.has been audited up to the fiscal year 2002 f) INTRAKAT SA (parent company) ,		Profit/(Loss) after Tax from discontinued operations	-770	-7.184	-770	-7.184
up to the year 2005, whereas its subsidiaries, IN.MAINT, KEPA ATTIKIS S.A, EUROKAT S.A, INTRADEVELOPMENT S.A. and the Joint Ventrures included in its group financial
statements have not been audited since their incorporation, g) UNIBRAIN S.A. up to fiscal year 2004, h) CONTENT AND DATA BANK S.A. (former AETHERAS S.A).				5. There are no legal disputes or cases on arbitration or judgement sentences or arbitration awards which may materially affect the financial position or operation
has not been audited since its incorporation, i) ATTICA TELECOMMUNICATIONS up to the fiscal year 2005.		of the Company or the Group.
4. Sales and purchases amounts, cumulatively from the beginning of the fiscal year, and the balances of receivables and payables at the end of the current period			6. There are no pledges on the Company's or Group's assets
deriving, for the Company and the Group, by related party transactions, under the light of IAS 24 provisions are as follows :		7. Number of employees at the end of the current period: Company 147 persons, Group 5.970 persons.
	(Amounts in thousands €) Group	Company	In the respective period of the previous financial year employees amounted to 139 persons for the Company and 5.648 for the Group.
a) Sales of goods/services	4.233	6.312	8. Certain amounts in previous period's Condensed Income Statement have been reclassified for comparability reasons,
b) Purchases of goods/services	5.232	1.682	as the company's operations have been classified in continuing and discontinued (Note 7)
c) Receivables from related parties	26.898	29.843
d) Payables to related parties	18.873	13.496
e) Directors' remuneration and key management compensation	766	766
f) Receivables from directors and key management	0	0
g) Payables to directors and key management	0	0
			Peania, August 29th 2007
THE CHAIRMAN	VICE CHAIRMAN		CORPORATE FINANCE			ACCOUNTING MANAGER
OF THE BOARD OF DIRECTORS	OF THE BOARD OF DIRECTORS		EXECUTIVE DIRECTOR
AND CEO	AND DEPUTY MANAGING DIRECTOR
S.P. KOKKALIS			D.Χ. KLONIS			Ι. Κ. TSOUMAS ID. No Ρ 499862/27.12.1994
ID. No P 695792/31.10.1991	Κ. G. DIMITRIADIS		ID. No Ρ 539675/06.11.1995
	ID. No Ι 208019/07.08.1974

CONDENSED INCOME STATEMENT OF DISCONTINUED OPERATIONS

INTRACOM HOLDINGS SA
(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 2007 to 30 June 2007

PROPORTIONAL PROPORTIONAL

PROPORTIONAL PROPORTIONAL PROPORTIONAL

PROPORTIONAL