Papoutsanis S.A. — Interim / Quarterly Report 2016

Mar 20, 2017

PAPOUTSANIS S.A.

INDUSTRIAL AND COMMERCIAL SOCIETE ANONYME OF CONSUMER PRODUCTS

GECR Nr 121914222000

Registered Office: 71th Km ATHENS - LAMIA NATIONAL ROAD, HALKIDA

DATA & INFORMATION FOR THE PERIOD FROM 1 JANUARY 2016 TO 31 DECEMBER 2016

(according to the Decision 4/507/28.4.2009 of the board of Directors of the Hellenic Capital Market Committee)

AMOUNTS REPORTED IN EURO

Societes Anonymes and Credit		01.01-	01.01-
• Vice Chairman and Chief Executive Officer - executive	Gross Profit/(Losses)	4.974.128	4.029.269
executive member: Menelaos Tassopoulos	Earnings before taxes, interest and investing results (EBIT)	514.974	250.807
• executive member: Mary Iskalatian	Profits/(Losses) before tax	119.727	54.592
• non-executive member: George Minoudis	Profits/(Losses) after tax (A)	(50.356)	(414.970)
• independent, non-executive member: Christos Georgalis	Other total income after tax (B)	10.281	(987.840)
• independent, non-executive member: Dimitrios Papoutsanis
SOL S.A. - ASSOCIATED CERTIFIED PUBLIC ACCOUNTANTS	Earnings before taxes, interest, depreciation amortization and
AUDITORS Crowe Horwath International	investing results	1.832.403	1.547.571

ASSETS	31.12.2016	31.12.2015		01.01-	01.01-
Owner - used tangible assets	24.944.078	24.237.259		31.12.2016	31.12.2015
Investments in real estate property	235.000	235.000	Total Equity at the beginning of period	17.648.878	19.051.688
Intangible assets	102.342	109.816	(01.01.2016 and 01.01.2015 respectively)
Other non-current assets	129.352	206.172	Compehensive total income after tax	(40.075)	(1.402.810)
Inventories	3.398.997	2.869.476	Total Equity at the end of the period (31.12.2016 and 31.12.2015
Trade receivables	4.409.749	3.439.615	respectively)	17.608.803	17.648.878
Checks receivables	873.021	1.721.428
Other current assets	1.018.404	1.955.928
Total Assets	35.110.942	34.774.694	DATA ON THE STATMENT OF CASH FLOW (INDIRECT METHOD)
EQUITY				01.01-	01.01-
Share Capital	15.747.184	15.747.184		31.12.2016	31.12.2015
Other equity elements	1.861.619	1.901.694	OPERATING ACTIVITIES
Total Equity (a)	17.608.803	17.648.878	Profits before tax	119.727	54.592
			Plus / (minus) adjustments for:
LIABILITIES			Depreciations	1.317.429	1.296.764
Long-term borrowings	4.389.906	4.505.800	Provisions	243.798	(90.212)
Provisions - other long term liabilities	5.168.905	5.066.806	Depreciation of grants	(147.469)	(360.145)
Short term borrowings	4.364.561	4.072.622	(Revenues)/expenses of investments	3.450	5.246
Other short term liabilities	3.578.766	3.480.589	Finance cost (net)	542.716	556.360
Total liabilities (b)	17.502.139	17.125.816		2.079.651	1.462.605
			Plus/Less adjustments for changes of working capital or related to
			operating activities:
Total Liabilities and Equity (a) + (b)	35.110.942	34.774.694	Decrease/(Increase) of inventories	(529.520)	636.606

Competent public authority - Prefecture:	Ministry of Development - General Commerce Secretariat - Department of Societes Anonymes and Credit		01.01-	01.01-
Web address:	www.papoutsanis.gr		31.12.2016	31.12.2015
Composition of the Board of Directors:	• Chairman - executive member: George Gatzaros	Turnover	18.032.127	15.614.524
	• Vice Chairman and Chief Executive Officer - executive	Gross Profit/(Losses)	4.974.128	4.029.269
	executive member: Menelaos Tassopoulos	Earnings before taxes, interest and investing results (EBIT)	514.974	250.807
	• executive member: Mary Iskalatian	Profits/(Losses) before tax	119.727	54.592
	• non-executive member: George Minoudis	Profits/(Losses) after tax (A)	(50.356)	(414.970)
	• independent, non-executive member: Christos Georgalis	Other total income after tax (B)	10.281	(987.840)
	• independent, non-executive member: Dimitrios Papoutsanis
Date of approval of the Financial Statements:	14 March 2017	Comprehensive total income after tax (A) + (B)	(40.075)	(1.402.810)
Certified Public Accountant Auditor:	Anastasia Zirou, Institute of CPA (SOEL) Reg No SOEL15841	Profits/(Losses) after tax per share	(0,0010)	(0,0082)
	SOL S.A. - ASSOCIATED CERTIFIED PUBLIC ACCOUNTANTS	Earnings before taxes, interest, depreciation amortization and
Auditing Company:	AUDITORS Crowe Horwath International	investing results	1.832.403	1.547.571
Type of auditor's review report:	With agreeing opinion
	DATA ON THE FINANCIAL POSITION STATEMENT	DATA ON THE STATEMENT OF CHANGES IN NET EQUITY FOR THE PERIOD

Plus / (minus) adjustments for:
Plus/Less adjustments for changes of working capital or related to
operating activities:
Decrease/(Increase) of claims	(324.871)	158.898
(Decrease)/Increase of liabilities (except banks)	45.176	(1.289.849)
Minus:
Interest payable and related expenses paid	(549.750)	(503.761)
Total of inflows / (outflows) of operational activities(a)	720.686	464.499
Investing Activities
Purchase of tangible and intangible assets	(2.190.537)	(1.469.827)
Proceeds from sales of tangible and intangible assets	250.583	171.414
Total of inflows / (outflows) of investment activities (b)	(1.939.954)	(1.298.413)
Financing Activities
Proceeds from issued/taked up loans	3.258.613	8.039.788
Proceeds from grant	48.970	548.754
Proceeds from issued/taked up loans (leasing)	360.300	513.180
Repayments of loans	(3.289.960)
Repayment of liabilities from leasing agreements (payments) Total of inflows / (outflows) of financing Activities (c)	(145.873)
	232.049
Total increase/(decrease) of cash and cash equivalents of the period (a)
+ (b) + (c)	(987.219)
Cash and cash equivalents at the beginning of the fiscal period Cash and cash equivalents at the end of fiscal period	1.765.040 777.821	(7.619.562) (334.086) 1.148.074 314.160 1.450.880 1.765.040

ADDITIONAL DATA INFORMATION

DATA ON THE STATEMENT OF COMREHENSIVE INCOME 1 JANUARY - 31 DECEMBER 2016

The following data and information that are derived from the financial statements aim to provide a general information about the financial position and results of Papoutsanis SA . We advise the reader, before making any investment decision or any other transaction with the Company, to visit the web site of the Company: www.papoutsanis.gr where the financial statements and the audit report of the statutory auditor are posted.

Head of Accounting Department Alexandros Georgiadis

ID. No. ΑΜ 992916 E.C.G. Licence No. 50454/A' Class

Chairman of the Board of Directors

Georgios Gatzaros ID. No. Σ 563348

Managing Director - C.E.O.

Menelaos Tasopoulos

ID. No. AI 597755

Financial Director

Mary Iskalatian

ID. No. AI 132693

1. The shares of the Company are being traded in the Stock Market of Athens in the main market.

2. The basic accounting principles that have been followed are the same with the same with those of 31/12/2015.

3. On the note 5.4.1 of the financial statements reference is made to unaudited fiscal years.

4. For the disputes subject to litigation or arbitration that may have a significant impact on the financial situation or the operation of the company, reference is made on notes 5.4.1 and 6.28 of the financial statements.

5. The number of employed personnel on 31/12/2016 was 108 persons, while on 31/12/2015 it was 91 persons.

6. Notifications of affiliated parties in accordance with IAS 24 (note 6.29 of the financial statements).

in euro	31.12.2016
a) Revenues	-
b) Expenses	-
c) Transactions and fees of executives and members of the board.	1.013.548
e) Claims from executives and members of the board. f) Liabilities to executives and members of the board.	16.403

1. Other essential information: At the end of the current financial year the company did not own any of its own shares.