Space Hellas S.A.

Annual / Quarterly Financial Statement • Mar 15, 2017

SPACE HELLAS S.A. GEMI:375501000 Mesogion Av. 312 Ag. Paraskevi Financial statement and information for the period 1 January 2016 to 31 December 2016
The following results and information, that arise from the financial statements, provide a general picture of the financial position and financial results of the SPACE HELLAS S.A. Thus we suggest the reader, before entering into any sort of investment decision or other transaction with the company, to gain access to the company's web site, where the financial statements can be downloaded, as well as the Auditor's Certificate.
Prefecture Ministry of Development, Department of Commerce Company's web site http://www.space.gr Date of approval by the Board of Directors 24 February 2016 Board of Directors Decisions Νο 2.972 Certified Auditor Accountant Dimos N. Pitelis (S.O.E.L. Reg. No 14481) Auditing Company PKF Euroauditing S.A Type of Auditor's report Without qualification					Board of Directors Manolopoulos Spyridon Mertzanis Ioannis Mpellos Christos Doulaveris Ioannis Mpellos Panagiotis Sakelaridou Zoi Lagogiannis Georgios Patsouras Athanasios Chatzistamatiou Theodoros	Chairman, executive member CEO, executive member Vice President, non ececutive member Executive member Executive member Executive member Executive member Indipendent - non executive member Indipendent - non executive member
1.1 STATEMENT OF FINANCIAL POSITION			1.4 CASH FLOW STATEMENT FOR THE YEAR
GROUP COMPANY 31.12.2016 31.12.2015 31.12.2016 31.12.2015 (consolidated and non consolidated) Amounts in € thousand (consolidated and non consolidated) Amounts in € thousand					GROUP 01.01-	01.01-	COMPANY 01.01-	01.01-
ASSETS Property, plant and equipment	15.876	15.930	15.847	15.898	Operating Activities : Profit before taxes (continued operations)	31.12.2016 1.401	31.12.2015 753	31.12.2016 1.012	31.12.2015 430
Investment properties Intangible assets	0 1.614	0 1.511	0 1.610	0 1.505	Plus/Less adjustments for : Depreciation	1.094	1.170	1.089	1.164
Other non current assets Inventory	1.183 3.252	1.466 3.703	1.236 3.252	1.517 3.703	Impairment of tangible and intangible assets Provisions	0 591	2.220 105	0 591	2.188 105
Receivables (trade debtors) Other current assets TOTAL ASSETS	12.455 11.940 46.320	10.781 9.245 42.636	11.957 11.548 45.450	10.268 9.389 42.280	Foreign exchange differences Net (profit)/Loss from investing activities	-66 252	75 -86	-68 -527	77 -632
EQUITY AND LIABILITIES					Interest and other financial expenses Plus or minus for Working Capital changes:	1.885	2.484	1.878	2.477
Share capital Other components of equity	10.395 3.390	10.395 2.564	10.395 3.006	10.395 2.608	Decrease/(increase) in Inventories Decrease/(increase) in Receivables	451 -1.492	195 1.147	451 -1.527	195 657
Total equity attributable to owners of the parent (a) Non controlling interests (b) Total Equity (c) = (a)+(b)	13.785 2 13.787	12.959 2 12.961	13.401 - 13.401	13.003 - 13.003	(Decrease)/increase in Payables (excluding banks) Less: Interest and other financial expenses paid	-246 -1.639	2.775 -2.291	-312 -1.632	3.209 -2.284
Long term borrowings Long term provisions / Non current liabilities	7.848 1.017	6.724 926	7.848 1.036	6.724 943	Taxes paid Total cash inflow/(outflow) from operating activities (a)	-431 1.800	-758 7.789	-171 784	-492 7.094
Short term borrowings Other current liabilities	8.117 15.551	7.135 14.890	8.117 15.048	7.135	14.475 Cash flow from Investing Activities
Total Liabilities (d) TOTAL EQUITY AND LIABILITIES (c)+(d)	32.533 46.320	29.675 42.636	32.049 45.450	29.277 42.280	Acquisition of subsidiaries, associated companies, joint ventures and other Purchase of tangible and intangible assets	0 -1.503	0 -2.490	0 -1.503	-80 -2.487
					Proceeds from sale of tangible and intangible assets Interest received Dividends received	42 145 0	329 487 0	42 145 1.140	20 486 925
1.3 STATEMENT OF CHANGES IN EQUITY					Total cash inflow/(outflow) from investing activities (b)	-1.316	-1.674	-176	-1.136
(consolidated and non consolidated) Amounts in € thousand	GROUP		COMPANY		Cash flow from Financing Activities 31.12.2016 31.12.2015 31.12.2016 31.12.2015 Share capital increase from subsidiaries	0	0	0	0
Total equity in the beginning of the year (1/1/2016 and 1/1/2015 accordingly)	12.961	13.634	13.003		13.612 Proceeds from Borrowings	3.907	438	3.907	438
Total comprehensive income after taxes (continued and discontinued Increase / (Decrease) of Share Capital	826 0	-673 0	398 0		-609 Payments of Borrowings 0 Total cash inflow/(outflow) from financing activities (c)	-1.801 2.106	-5.511 -5.073	-1.801 2.106	-5.511 -5.073
Capitalisation of reserves Cancellation of own shares	0 0	0 0	0 0	0 0	Net increase/(decrease) in cash and cash equivalents (a)+(b)+(c)	2.590	1.042	2.714	885
Non controlling interests Total equity at the end of the year Total equity at the end of the period (31/12/2016 and 31/12/2015 accordingly)	0 13.787	0 12.961	0 13.401		0 Cash and cash equivalents at beginning of period 13.003 Cash and cash equivalents at end of period	4.875 7.465	3.833 4.875	4.401 7.115	3.516 4.401
1.2 STATEMENT OF COMPREHENSIVE INCOME GROUP COMPANY
(consolidated and non consolidated) Amounts in € thousand			01.01- 31.12.2016	01.01- 31.12.2015	01.01- 01.01- 31.12.2016 31.12.2015
Turnover Gross Profit Profit before taxes, financing and investing activity			48.169 13.069 3.218	54.889 13.063 3.193	44.906 51.782 11.886 12.036 2.044 2.490
Profit before taxes Profit after taxes (A)			1.401 900	753 798	1.012 430 791 848
Owners of the parent - Non controlling interests t lli i t N t -			900 0 0	827 -29 29	791 848 0 0 0
Other comprehensive income after taxes (B)			900 -74	798 -1.471	791 848 -393 -1.457
Total comprehensive income after taxes (A)+(B) Owners of the parent - Non controlling interests -			826 826 0	-673 -644 -29	398 -609 398 -609 0 0
Earnings (after taxes) per share - basic in € Profit before taxes, financing and investing activity and depreciation			0,1394 4.312	0,1281 4.363	0,1225 0,1313 3.133 3.654
Additional information The shares of the company were listed on the Athens Stock Exchange on 29-9-2000. The earnings per share were calculated based on the weighted average number of ordinary shares in issue amounting to 6.456.530 1. The companies of the Group, the percentage ownership and the consolidation method for the ending period are disclosed in note 4.6.12 of the annual financial report 2016. 2. 3. The tax un-audited years of the Company and the Group are disclosed in note 4.6.27 of the annual financial report 2016. 4. The company has formed a provison for the tax unaudited years amounting to 122 thousand euro for years 2009 and 2010. For the rest of the Group's companies no provision has been formed as the impact of the additional tax is deemed to be insignificant (note 4.7.25). There are no other provisions formed (note 4.7.27). No other reserves are formed (note 4.7.25). 5. There are no other disputed or under arbitration cases of national or administrative courts that may have a material effect on the financial position of the Company. 6. There are no other real liens on non-current assets or property, except, at the Company level, the underwriting, amounting to € 1.200 thousand, on the property situated at 6 Loch. Dedousi St., Cholargos, Athens, and the underwriting amounting to € 4.000 thousand, on the property situated at 302 Ave. Mesogeion, Cholargos, Athens and, at the Group level, the underwriting, amounting to € 7.540 thousand, on the property situated at 312 Ave. Mesogeion, Cholargos, Athens, and the underwriting, amounting to € 2.300 thousand, on the property situated at St. Gianniton-I.Kariofylli & Patr. Kyrrilou, Thessaloniki,. 7. The average personnel employed during the year 2016 for the Group amounted to 249 persons and for the Company amounted to 248 while as at 2015 amounted to 238 and 237 respectively. 8. The same Accounting Policies have been followed as for the financial statements as at 31.12.2015. 9. Note 4.3 of the annual financial report 2016 refers to the comprehensive income after taxes for the company and the Group. 10. Intercompany transactions for the period from 1 January 2016 to 31 December 2016 according to I.A.S. 24 are as follows:
a) Sales of goods and services		GROUP 253	COMPANY 1.156
b) Purchases of goods and services c) Receivables from related parties d) Payables to related parties		2 195 1.491	2 315 1.491
e) Key management compensations f) Receivables from key management		1.384 2	1.384 2
g) Payables to key management included in above		17	17		The company has guaranteed to financial institutions for bank credit limits for the JOINT-VENTURE SPACE HELLAS SA-KB IMPULS HELLAS SA ("DORY") up to the amount of € 1.796 thousand, for the Joint Venture SPACE HELLAS - UNISYSTEMS up to the amount of € 76
thousand, and for the subsidiary SPACE HELLAS (CYPRUS) Lt.d.up to the amount of € 54 thousand, through the issuance of letters of guaranty. Agia Paraskevi, 24 February 2017
CHAIRMAN OF THE BOARD OF DIRECTORS				CHIEF EXECUTIVE OFFICER	CHIEF FINANCIAL OFFICER			CHIEF ACCOUNTANT
					AND EXECUTIVE MEMBER OF THE BOARD
SPYRIDON MANOLOPOULOS			IOANNIS MERTZANIS		IOANNIS DOULAVERIS			ANASTASIA PAPARIZOU