Intracom S.A. Holdings

Quarterly Report • Sep 23, 2015

	Amounts in € thousands					Amounts in € thousands
	GROUP		COMPANY					GROUP
	31/12/2008	31/12/2007	31/12/2008	31/12/2007		01/01-31/12/2008		01/01-31/12/2007
ASSETS						Continuing Operations	Continuing Operations	Discontinued Operations	Total
Property plant and equipment	333.853	277.397	39.869	39.265	Sales	509.019	423.000	-	423.000
Investment property	63.125	50.049	60.450	55.244	Gross profit (loss)	74.919	59.761	-	59.761
Intangible assets	106.287	92.570	219	3.654	Profit/(loss) before tax, financing and
Other Non-current assets	139.106	143.616	380.955	369.164	investing results	-53.719	-9.710	-770	-10.480
Inventories	49.137	48.987	-	-	Profit/(loss) before income tax	-80.699	-20.450	-770	-21.220
Trade Receivables	375.595	357.870	8.884	28.828	Less income tax expense	2.695	15.690	-	15.690
Other current assets	77.595	91.667	25.093	52.762	Profit/(Loss) after Tax	-83.394	-36.140	-770	-36.910
					Attributable to:
TOTAL ASSETS	1.144.698	1.062.156	515.470	548.917	Equity holders of the Company	-77.192	-34.312	-770	-35.082
					Minority interest	-6.203	-1.828	-	-1.828
ΚΑΘΑΡΗ ΘΕΣΗ ΚΑΙ ΥΠΟΧΡΕΩΣΕΙΣ
Share capital	374.047	374.047	374.047	374.047	Earnings After Tax per share - basic (in €)	-0,5877	-0,2609	-0,0059	-0,2668
Reserves	58.618	136.942	106.204	137.433	Proposed Dividend per share	-	-	-	-
Shareholders Equity (a)	432.665	510.989	480.251	511.480	Profit/(loss) before income tax, financing, investing results
Minority interest (b)	35.822	29.005	-	-	and total depreciation	-14.261	16.562	-770	15.792
Total Equity (c) = (a) + (b)	468.487	539.994	480.251	511.480
Long-term bank borrowings	156.082	63.935	-	-				COMPANY
Provisions/Other long-term liabilities	48.601	20.887	1.163	885		01/01-31/12/2008		01/01-31/12/2007
Short-term bank borrowings	176.233	180.597	19.294	12.777		Continuing Operations	Continuing Operations	Discontinued Operations	Total
Other short-term liabilities	295.295	256.743	14.762	23.775	Sales	5.411	12.122	-	12.122
					Gross profit (loss)	443	574	-	574
Total Liabilities (d)	676.211	522.162	35.219	37.437	Profit/(loss) before tax, financing and
TOTAL EQUITY AND LIABILITIES (c)+(d)	1.144.698	1.062.156	515.470	548.917	investing results	-33.587	-3.090	-770	-3.860
					Profit/(loss) before income tax	-34.530	-285	-770	-1.055
					Less income tax expense	535	4.827	-	4.827
	STATEMENT OF CHANGES IN EQUITY				Profit/(Loss) after Tax	-35.065	-5.112	-770	-5.882
	Amounts in € thousands

					Attributable to:
TOTAL ASSETS	1.144.698	1.062.156	515.470	548.917	Equity holders of the Company	-77.192	-34.312	-770	-35.082
					Minority interest	-6.203	-1.828	-	-1.828
ΚΑΘΑΡΗ ΘΕΣΗ ΚΑΙ ΥΠΟΧΡΕΩΣΕΙΣ
Share capital	374.047	374.047	374.047	374.047	Earnings After Tax per share - basic (in €)	-0,5877	-0,2609	-0,0059	-0,2668
Reserves	58.618	136.942	106.204	137.433	Proposed Dividend per share	-	-	-	-
Shareholders Equity (a)	432.665	510.989	480.251	511.480	Profit/(loss) before income tax, financing, investing results
Minority interest (b)	35.822	29.005	-	-	and total depreciation	-14.261	16.562	-770	15.792
Total Equity (c) = (a) + (b)	468.487	539.994	480.251	511.480
Long-term bank borrowings	156.082	63.935	-	-		COMPANY
Provisions/Other long-term liabilities	48.601	20.887	1.163	885		01/01-31/12/2008		01/01-31/12/2007
Short-term bank borrowings	176.233	180.597	19.294	12.777		Continuing Operations	Continuing Operations	Discontinued Operations	Total
Other short-term liabilities	295.295	256.743	14.762	23.775	Sales	5.411	12.122	-	12.122
					Gross profit (loss)	443	574	-	574
Total Liabilities (d)	676.211	522.162	35.219	37.437	Profit/(loss) before tax, financing and
TOTAL EQUITY AND LIABILITIES (c)+(d)	1.144.698	1.062.156	515.470	548.917	investing results	-33.587	-3.090	-770	-3.860
					Profit/(loss) before income tax	-34.530	-285	-770	-1.055
					Less income tax expense	535	4.827	-	4.827
STATEMENT OF CHANGES IN EQUITY			Profit/(Loss) after Tax	-35.065	-5.112	-770	-5.882
	Amounts in € thousands
	GROUP COMPANY			Earnings After Tax per share - basic (in €) -0,2670		-0,0389	-0,0059	-0,0448
	31/12/2008	31/12/2007	31/12/2008	31/12/2007	Profit/(loss) before income tax, financing, investing results
Balance at the beginning of period (1/1/2008 and 1/1/2007 respectively)	539.994	583.549	511.480	536.864	and total depreciation	-30.209	581	-770	-189

	GROUP		COMPANY
	31/12/2008	31/12/2007	31/12/2008	31/12/2007	Profit/(loss) before income tax, financing, investing results
Profit/ (Loss) for the period, after tax	-83.394	-36.910	-35.065	-5.882
Increase / (decrease) of share capital	-	602	-	226
Dividends paid	-263	-13.314	-	-13.126
Net income recognised directly in equity	12.150	9.576	3.836	-3.093
Treasury Shares	-	-3.509	-	-3.509
Balance at the end of period (31/12/2008 and 31/12/2007 respectively)	468.487	539.994	480.251	511.480

				GROUP	COMPANY
		Indirect Method	01/01-31/12/2008	01/01-31/12/2007	01/01-31/12/2008	01/01-31/12/2007
		Operating Activities
	ADDITIONAL DATA AND INFORMATION:	Profit Before incomeTax (from continuing operations)	-80.699	-20.450	-34.530	-285
		Profit Before incomeTax (from discontinued operations)	-	-770	-	-770
1. There are no pledges on the Company's or Group's assets		Plus / Minus Adjustments for:
2. Number of employees at the end of current period: Company 80 employees (2007, 137 employees)		Depreciation	39.458	26.272	3.378	3.671
Group 6.104 employees (2007, 6.171 employees).		Provisions	6.752	312	1.474	92
3. There are no legal disputes or cases on arbitration which may materially affect the financial position of the Company or the Group.		Exchange differences	259	-410	-	-
Other Provisions on 31.12.08 sum up to € 1.642 thous. for the company and € 12.979 thous. for the Group.		Results (income, expenses, profits and losses) from investing activities	7.393	-20.887	6.371	-8.022
There are no provisions for unaudited fiscal periods for the Company, whereas provisions for unaudited fiscal periods for the Group		Interest expenses and related costs	29.643	14.414	2.487	780
sum up to € 1.648 thous.		Plus / Minus Adjustments for Working Capital Changes
There are no material provisions for legal disputes or cases on arbitration, neither for the Company nor for the Group.		or related to operating activities.
4. Sales and purchases amounts, cumulatively from the beginning of the fiscal year, and the balances of receivables and payables at the end		Decrease / (increase) in inventories	-149	2.291	-	-
of the current period deriving, for the Company and the Group, by related party transactions, under the light of IAS 24 provisions are as follows :		Decrease / (increase) in receivables	-8.478	-50.792	28.236	-8.298
		(Decrease) / Ιncrease in liabilities (other than banks)	14.612	65.196	-9.756	8.616
(Amounts in € thousands)	Group Company	Less:
a) Income	16.285 12.154	Interest expenses and related costs paid	-24.344	-14.414	-1.487	-780
b) Expenses	36.989 620	Income Tax paid	-11.585	-8.430	-1.245	-2.187
c) Receivables	25.009 15.724
d) Payables	53.689 7.817	Total inflow / (ouflow) from operating activities (a)	-27.138	-7.668	-5.072	-7.183
e) Key management compensation and transactions	1.854 1.854	Investing activities
f) Receivables from directors and key management	0 0	Acquisition of subsidiaries, associates, joint ventures and other investments	-6.148	-22.722	-21.006	-33.799
g) Payables to directors and key management	75 75	Purchase of PPE and intangible assets	-75.187	-94.903	-8.077	-3.600
5. The Company reclassified the Income Statement figures for the relevant period of the previous financial year, due to the completion of the purchase price		Proceeds from sales of PPE and intangible assets	3.457	12.820	1.161	9.307
allocation process of subsidiaries and business segment. (Note 38 of Financial statements).		Interest received	3.228	2.942	990	2.297
Profits after tax and minority interest, as well as Shareholder's equity, remain as they were.		Dividends received	97	90	3.936	1.600
6. Information about the subsidiaries, associates and the joint ventures of the Group as at 31 December 2008 (name, country of incorporation,
direct interest held), as well as the consolidation method is presented in Note 43 of the financial statements.		Total (outflow)/ inflow from investing activities (b)	-74.553	-101.773	-22.996	-24.195
Furthermore, in Note 43 changes in the consolidation method are mentionned. There are no changes in the consolidation method for the companies		Financing activities
included in the group financial statements, or companies that are not included in the consolidation.		Proceeds from issue of share capital	-	831	-	227
7. The Company's tax returns have been audited by the tax authorities up to and including the fiscal year 2007.		Disposal/(Purchase) of treasury shares	-	-3.509	-	-3.509
Unaudited fiscal years by tax authorities for the Group's Companies are equally stated in Note 43.		Expenses on issue of share capital	-1.258	-512	-	-
8. The company and the Group at 31/12/2008 holds 1.680.836 treasury shares of € 7.724 thous. total value,		Proceeds from borrowings	285.643	256.790	11.801	9.294
which has been deducted from the Company's and Group's shareholders' equity.		Repayments of borrowings	-203.050	-168.091	-5.281	-845
9. During the current period, income of € 34 thous., referring to valuation and sale of financial assets available for sale,has been recorded directly		Repayment of finance leases	-4.510	-3.053	-3	-11
to Shareholder's Equity (Fair value Reserves). Furthermore, the amount of € 3.802 thous. has been transferred from 'Fair Value Reserves'		Dividends paid	-582	-13.562	-320	-13.374
to the Income statement expenses, due to devaluation and sale of financial assets avoilable for sale.		Grants received	7.557	1.643	-	-
Respectively, in the Group's financial statements have been recorded, losses of € 4.164 thous. referring to valuation of financial assets available for sale,		Total inflow / (outflow) from financing activities (c)	83.800	70.537	6.197	-8.218
expenses of € 3.802 thous. that have been transferred from the fair value reserves to the Income Statement due to write off and disposal		Net increase / (decrease) in cash and cash equivalents
of available-for-sale financial assets, expenses on issue subsidiary's share capital € 1.020 thous., losses of exchange rate conversions		for the period (a) + (b) + (c )	-17.891	-38.904	-21.871	-39.596
during the consolidation € 1.184 thous., change of minority rate of € 14.535 thous. which comprises the effect of aquisitions of business segments		Cash and cash equivalents at beginning of period	76.573	115.477	32.935	72.531
as reported in Note 38, and income of € 180 thous. referring to Stock Options Rights.		Cash and cash equivalents at end of period	58.682	76.573	11.064	32.935
10. On 10 March 2009 the increase in share capital of the subsidiary Hellas On Line has been completed. The share capital increase was 100% covered,
and total proceeds summed up to € 50,7 mn. Due to the sale of the pre-emption rights by Intracom Holdings SA to third parties, the percentage interest held
by the Company in Hellas on Line dropped to 63,13%.
The subsidiary company Intrakat SA was classified in the upper 7th grade of the Register of Contractor's Enterprises of the Hellenic Ministry.
		Peania, 30 March 2009
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	Κ. G. DIMITRIADIS	D.C. KLONIS			Ι. Κ. TSOUMAS
ID. No P 695792/31.10.1991	ID. No Ι 208019/07.08.1974	ID. No Ρ 539675/06.11.1995			ID. No AZ 505361/10.12.2007 L.C. 637

(Amounts in € thousands)
c) Receivables	25.009	15.724

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

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.

Concise financial information for the period from 1 January 2008 to 31 December 2008 (reported under the provisions of L.2190 Art.135 for companies which prepare annual financial statements consolidated or stand alone in accordance with IFRS)

CONDENSED INCOME STATEMENT

CONDENSED BALANCE SHEET

CONDENSED CASH FLOW STATEMENT

Amounts in € thousands

Authority in charge: Ministry of Development Web Address: www.intracom.com Date of approval of the financial statements by the BoD 30/03/2009

Board of Directors:

Chairman of the Board of Directors, Executive Member Socrates P. Kokkalis Vice Chairman, Deputy CEO, Executive Member Konstantinos G. Dimitriadis Non-Executive Member: Konstantinos G. Antonopoulos

Advisors, Executive Members: Dimitrios X. Klonis, George Ar. Anninos, Nikolaos D. Labroukos. Independent Non-Executive Members: Stilianos A. Zervopoulos, Dimitrios Κ. Hatzigrigoriadis.

Certified Auditors Accountants: Zoe Sofou (L.C./ Accociation of Certified Auditors 14701) - Michael Ε. Hatzistavrakis (L.C./ Accociation of Certified Auditors 26581) Auditing Firm: "SOL" S.A. CERTIFIED AUDITORS ACCOUNTANTS Type of review opinion: With no qualification