Panafon Hellenic Telecom Co S.A.
1 December 2000
PANAFON HELLENIC TELECOMMUNICATIONS COMPANY SA AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEET AS OF 30th SEPTEMBER 2000
The condensed consolidated financial statements have been prepared in accordance
with Greek accounting principles and Methods.
ASSETS 30/9/2000 30/9/1999
B. PRE-ESTABLISHMENT EXPENSES 1.752.084.196 1.542.864.385
Less Acc. Amortization 1.270.943.466 945.585.971
481.140.730 597.278.414
C. FIXED ASSETS
I. Intangible Assets 46.811.095.691 39.508.328.880
Less: Acc. Amortization 16.478.561.956 14.254.237.791
30.332.533.735 25.254.091.089
II. Tangible Assets 248.640.815.297 176.994.897.609
Less: Acc. Depreciation 75.072.956.312 55.257.337.413
173.567.858.985 121.737.560.196
III. Investments and other L.T.
financial claims 9.218.447.644 7.755.877.150
Total Fixed Assets 213.118.840.364 154.747.528.435
D. CURRENT ASSETS
I. Stocks 2.219.045.007 2.890.488.216
II. Receivables 57.830.921.945 55.897.681.211
III. Securities 1.755.000 1.755.000
IV. Cash and Banks 940.141.514 1.071.896.545
Total Current Assets 60.991.863.466 59.861.820.972
E. PREPAYMENTS & ACCRUED REVENUES 29.465.982.562 27.933.503.527
TOTAL ASSETS 304.057.827.122 243.140.131.348
MEMO ACCOUNTS 15.853.799.484 16.137.170.689
CONSOLIDATED PROFIT AND LOSS ACCOUNT OF THE PERIOD 1.4.00. - 30.9.00
1.4.00 - 30.9.00 1.4.99 - 30.9.99
Revenues 150.336.513.630 141.030.048.440
Less Cost of sales 64.355.617.383 63.775.864.984
Gross margin 85.980.896.247 77.254.183.456
Plus: Other operating revenue 343.372.947 96.894.760
Total 86.324.269.194 77.351.078.216
Less Administrative expenses 9.639.608.554 7.699.243.365
Selling expenses 30.372.969.351 22.520.896.909
Sub total 46.311.691.289 47.130.937.942
Less Financing costs 2.792.409.439 3.727.558.275
Operating Income 43.519.281.850 43.403.379.667
Plus: Non operating revenues 3.105.255.175 126.812.325
Less Non operating expenses 190.250.107 208.616.043
Total 46.434.286.918 43.321.575.949
Less Depreciation expenses 15.765.882.260 13.995.780.563
Less Absorbed in operating expenses 15.762.606.758 13.992.505.061
Income of the period before tax 46.431.011.416 43.318.300.447
LIABILITIES 30/9/2000 30/9/1999
A. SHAREHOLDERS' EQUITY
I. Share capital 51.250.000.000 25.625.000.000
IV. Legal, other reserves and 44.689.350.580 33.149.134.015
retained earnings
V. Profit for the period 1.4.00
- 30.9.00
before taxes 46.431.011.416 43.318.300.447
less: Goodwill (9.390.446.190) (571.975.713)
Total shareholders' equity 132.979.915.806 101.520.458.749
B. PROVISIONS FOR RISKS
AND EXPENSES 1.954.871.765 633.872.676
C. LIABILITIES
II. Short term 149.963.167.198 118.396.091.638
D. DEFERRED INCOME AND
ACCRUED EXPENSES 19.159.872.353 22.589.708.285
TOTAL LIABILITIES 304.057.827.122 243.140.131.348
MEMO ACCOUNTS 15.853.799.484 16.137.170.689
Notes :
1. The corporate income tax of the period is estimated at GRD 15,6 bln.
2. At the end of the period the company had 1,653 employees.
3. The Investment in fixed assets of the period 1.4.00 - 30.9.00 was GRD 47,7
bin.
4. No mortgages exist on company's fixed assets
5. These consolidated financial statements include the following subsidiaries:
PANAFON EMPORIKI SA and PANAFON SERVICES SA (full consolidation) UNIFON SA,
RADIO KORASIDES TELECOM SA, MOBITEL SA CITICOM SA andONE WAY SA (equity
method)
6. According to the Board of Directors decision on 25/10/00, the procedure for
the absorption of Panafon Emporiki and Unifon from Panafon has been started.
PANAFON HELLENIC TELECOMMUNICATIONS COMPANY S.A.
CONDENSED BALANCE SHEET AS OF 30TH SEPTEMBER 2000
The condensed financial statements have been prepared in
accordance with Greek accounting principles and methods.
ASSETS 30/9/2000 30/9/1999
B.PRE-ESTABLISHMENT EXPENSES 1.275.671.396 1.130.789.916
Less Acc. Amortization 935.438.741 702.244.833
340.232.655 428.545.083
C. FIXED ASSETS
I. Intangible Assets 43.223.899.886 39.508.328.880
Less: Acc. Amortization 16.220.531.479 14.254.237.791
27.003.368.407 25.254.091.089
II. Tangible Assets 243.226.732.025 174.707.476.960
Less: Acc. Depreciation 73.679.970.821 54.500.978.764
169.546.761.204 120.206.498.196
III.Investments and other
L.T. financial claim: 19.302.433.527 8.366.670.047
Total Fixed Assets 215.852.563.138 153.827.259.332
D. CURRENT ASSETS
I. Stocks 1.105.364.292 2.294.557.685
II. Receivables 53.942.767.449 58.591.321.193
IV. Cash and Banks 131.327.920 134.249.355
Total Current Assets 65.179.459.661 61.020.128.233
E. PREPAYMENTS & ACCRUED
REVENUE 27.344.721.656 25.584.695.998
TOTAL ASSETS 308.716.977.110 240.860.628.646
MEMO ACCOUNTS 14.588.668.810 14.603.119.589
PROFIT AND LOSS ACCOUNT OF THE PERIOD 1.4.00 - 30.9.00
1.4.00 - 30.9.00 1.4.99 - 30.9.99
Revenues 139.561.438.069 132.421.087.151
Less: Cost of sales 53.283.849.283 55.032.628.910
Gross margin 86.277.588.786 77.388.458.241
Plus: Other operating revenue 357.359.075 64.061.437
Total 86.634.947.861 77.452.519.678
Less: Administrative expenses 7.148.509.398 6.710.947.123
Selling expenses 33.884.436.977 23.268.179.832
Sub total 45.602.001.486 47.473.392.723
Less: Financing costs 2.633.697.840 3.874.182.932
Operating Income 42.968.303.646 43.599.209.791
Plus: Non operating revenues 3.260.422.987 122.768.626
Less: Non operating expenses 156.348.284 181.718.391
Total 46.072.378.349 43.540.260.026
Less: Depreciation expenses 14.877.762.242 13.731.832.167
Less: Absorbed in operating
expenses 14.877.762.242 13.731.832.167
Income of the period before
tax 46.072.378.349 43.540.260.026
LIABILITIES 30/9/2000 30/9/1999
A. SHAREHOLDERS' EQUITY
I. Share Capital 51.250.000.000 25.625.000.000
IV Legal, other reserves and
retained earnings 45.058.104.948 33.273.922.172
V. Profit for the period 1.4.00 - 30.9.00
before taxes 46.072.378.349 43.540.260.026
Total shareholders' equity 142.380.483.297 102.439.182.198
B. PROVISIONS FOR RISKS
AND EXPENSES 1.830.643.442 490.761.171
C. LIABILITIES
II. Short term 145.312.802.118 116.206.576.320
D. DEFERRED INCOME AND
ACCRUED EXPENSES 19.193.048.253 21.724.108.957
TOTAL LIABILITIES 308.716.977.110 240.860.628.646
MEMO ACCOUNTS 14.588.668.810 14.603.119.589
Notes:
1. The corporate income tax of the period is estimated at GRD 15,4 bln.
2. At the and of the period the company had 854 employees.
3. The investment in fixed assets of the period 1.4.00 - 30.9.00 was GRD 42,3
b/n.
4. No mortgages exist on company's fixed assets.
5. According to the Board of Director's decision on 25/10/00, the procedure for
the absorption of Panafon Emporiki and Unifon from Panafon has been started.
6. Revenues are analyzed to the following categories:
a) 642.0 Telecommunications GRD 139.534.098.132
b) 526.3 Other retail sales GRD 27.339.937
