Summarised Accounting statement for the twelve months ended June 30, 2002

Back Contact us Main Page

VIS CONTAINERS MANUFACTURING SOCIETE ANONYME

SEAT : MAROUSSI PREFECTURE SERIAL NUMBER 6055/06/Β/86/133

SUMMARISED ACCOUNTING STATEMENT AS OF JUNE 30TH 2002

PRESIDENTIAL DECREE 360/09-7-1985 & ART.90 LAW 2533/97

ASSETS

CAPITAL & LIABILITIES

1/7/01 - 30/6/2002

1/07/00 - 30/6/2001

1/7/01 - 30/6/2002

1/07/00 - 30/6/2001

CAPITAL & RESERVES

Share Capital

Long term depreciation expenses (net book value)

7.748.878,75

8.866.181,52

Paid up (4.258.800 ordinary shares and

709.800 preferred of nominal value Euro 2,88)……………………

14.309.568,00

14.289.737,34

Fixed Assets...................................................................................

32.530.498,74

31.277.259,96

Less depreciation ( until 30/06/02 ).................................................

16.886.843,90

13.857.358,00

Reserves & Other capital and Reserves accounts

5.276.371,11

6.213.541,12

Undepreciated fixed assets..............................................................

15.643.654,84

17.419.901,96

Results of period

192.368,32

348.795,10

Investments & other noncurrent receivables

979.203,19

5.505.982,36

Results of previous years

-105.633,75

Income Tax

-99.828,45

Stocks..........................................................................................

3.603.527,82

3.914.341,71

Differences from revenue inspection

-237.425,20

Customers....................................................................................

10.945.788,01

7.986.615,60

Not incorporated taxes

-23.628,30

-39.494,86

Other receivables - Bills receivable - Checks receivable.....................

6.823.020,99

8.858.428,88

-68.685,18

103.838,04

Doubtful - Disputed customers and debtors......................................

876.310,48

882.275,45

Total Capital & Reserves

19.517.253,93

20.607.116,50

Less: Provisions of doubtful receivables ...............................

-736.551,71

-628.966,53

21.512.095,59

21.012.695,11

Various provisions

30.968,14

339.254,10

Cash at Bank & In Hand..................................................................

1.007.394,59

278.541,02

Long term Liabilities

20.857.849,99

14.997.741,22

Short term liabilities

6.786.545,52

16.903.712,34

Total Current Assets........................................................................

22.519.490,18

21.291.236,13

Total Liabilities

27.644.395,51

31.901.453,56

Interim Asset Accounts ...................................................................

814.223,95

64.698,84

Accruals & Deferred income

512.833,33

300.176,65

TOTAL - ASSETS............................................................................

47.705.450,91

53.148.000,81

TOTAL CAPITAL & LIABILITIES

47.705.450,91

53.148.000,81

Memo accounts...............................................................................

3.659.393,00

243.909,23

Memo accounts

3.659.393,00

243.909,23

Text Box: NOTES :1) There are no mortgages or prenotation of mortgages on the plots and factories of the company at the time of publication of this balance sheet 2) The basic accounting principles of the company's Balance Sheet 30/6/2001 have been observed 3) Number of personnel (average): 255 persons .4) There are no pending court disputes or arbitration or court or arbitration decisions, which could have serious impact on the financial position or the operation of the company. 5) The regular revenue inspection for the years 1992-30.06.1999 was completed. From such inspection resulted taxes amounting to Euro 1.330.362,00, which are payable in 24 monthly instalments. In parallel, the company received the amount of Euro 578.136 as returned taxes and another sum of Euro 52.300 approximately is expected to be received as returned taxes. 6) The sales of the company according to the Statistical Classification of Fields of Financial Activity (SCFFA 91) are analysed as follows: code.212.1 “Production of corrugated paper and board and packaging products made of paper and board” Euro 23.198.476,13 code.211.2 “ Production of paper and board” Euro 40.831,87, code 517.0 “Other wholesale trade” Euro 2.682.276,23 7) The income statement (in the item Financial Results) includes the profit from the sale, in cash, of the company’s participation (50%) in the company HELIOS PLAZA S.A. to the other shareholder (50%) foreign company under the name PLAZA CENTERS ( EUROPE) B.V. A relevant announcement to the Athens Stock Market was made by the company by virtue of its letter dated 13.5.2002 bearing reference number 18980. 8) The item Reserves & Other capital and Reserves accounts of the previous fiscal year were reclassified, in order to become comparable with those of the current fiscal year. 9) The end of the current fiscal year was extended from 30.6.2002 to 31.12.2002, following relevant approval of the Head of the Athens FAVE Tax Office (Decision No. 989 bearing reference number 15207/10.5.2002) and amendment of the relevant article 41 of the company’s articles of association by virtue of resolution dated 14.6.2002 passed by the General Assembly of the shareholders.

BREAKDOWN OF INCOME STATEMENT

1/7/01 - 30/6/2002

1/07/00 - 30/6/2001

ΕΣΟΔΑ

Income from sales..............................................................................

25.921.584,23

25.506.550,32

Less: Cost of Sales.............................................................................

20.918.722,71

#REF!

19.615.000,80

Gross operating results.......................................................................

5.002.861,52

#REF!

5.891.549,52

Plus: Other operating income..............................................................

130.210,21

233.796,58

Total................................................................................................

5.133.071,73

6.125.346,10

Less: Administrative Expenses.............................................................

1.894.268,08

#REF!

1.483.913,95

Appropriation costs................................................................

2.592.711,82

#REF!

2.268.897,56

Financial results ...................................................................

1.245.253,30

#REF!

2.342.769,28

Total operating results (losses)...........................................................

-599.161,47

29.765,31

Plus : Extraordinary income.................................................................

2.363.434,39

1.539.081,95

LESS: Extraordinary expenses.............................................................

1.571.904,60

1.220.052,16

Ordinary and Extraordinary results (profits) ..........................................

192.368,32

348.795,10

LESS: Total depreciation of fixed assets ..............................................

4.645.814,35

3.678.989,84

LESS: Those incorporated in the operational cost .......................

4.645.814,35

3.678.989,84

NET PROFITS (before taxes)...............................................................

192.368,32

348.795,10

Text Box: THE CHIEF FINANCIAL OFFICER

IOANNIS THEODOROU
ID No. Ι-720303

Maroussi, August 26 2002