hellenic cables s.a. · 2016. 5. 27. · statement of financial position as at 31 december 2015. th...
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DFK P AUDIT S.A.
Certified Public Accountants and Business Advisors
4 Vas. Sofias & 153 Kifissias Ave., GR-151 24 Marousi
Tel.: +30 (210) 7249302, Fax: +30 (210) 7212075
Greek ICPA (SOEL) Reg. No.: 163 Reg. No. in Accounting Standardisation and Auditing Committee (ELTE):031
www.pdaudit.gr
HELLENIC CABLES S.A. "HELLENIC CABLES INDUSTRY S.A."
Report on the Market Value
of the transferred assets and liabilities
based on the Statement of Financial Position
as at 31 December 2015
based on the provisions of article 52 of Law 4172/2013
2 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
Table of contents
1 Mission, purpose and extent of project 3
2 Establishment, term and registered office of the Contributor 4
3 Purpose of the Contributor 4
4 Shareholders - Share Capital of the Contributor 5
5 Management - Representation of the Contributor 5
6 Description of the Contributing Industry 5
6.1 Description of the Manufacturing Process per Factory 6
6.2 Description of the Industrial Products Manufactured 10
7 Description of Contributed Part of Commercial Sector 11
8 Approach to project and audit procedures 12
9 Valuation method 13
10 Valuation methodology for the contributed assets and
liabilities 14
11 Breakdown of Statement of Financial Position as at 31
December 2015 of the contributed sector (amounts in Euro) 15
11.1 Assets 15
11.2 Liabilities 31 11.3 Equity 37
12 Conclusion 40
13 Details of Acquirer 42
14 Exchange ratio of shares 43
ANNEXES I. Statement of Financial Position of contributed industrial sector and part of
commercial sector on 31 December 2015 II. Financial Statements of Acquirer on 31 December 2015 III. Statement of machinery and means of transport IV. Letters of guarantee
3 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
To the
Board of Directors of
HELLENIC CABLES S.A.- HELLENIC CABLES INDUSTRY S.A.
33 Amarousiou - Halandriou
GR-15125, Marousi
4 May 2016
Sirs,
On order of the Board of Directors of "HELLENIC CABLES S.A. - HELLENIC CABLES INDUSTRY
S.A." (the "Contributor" or the "Company", based on the relevant provisions of article 52 of
Law 4172/2013 and the relevant articles of Codified Law 2190/1920, we prepared this report establishing
the market value of the assets of the contributed industrial sector and part of the commercial sector of the
Company based on the Statement of Financial Position as at 31 December 2015.
1 Mission, purpose and extent of project
The Board of Directors of the Company, during its meeting on 31 March 2016, decided the
commencement of a spin-off procedure concerning the industrial and part of the commercial
sector to the wholly-owned subsidiary "SYMM.EP. HOLDINGS AND INVESTMENTS S.A." or
"SYMM.EP. S.A." (the "Acquirer"), in accordance with the provisions of article 52 of Law 4172/2013
and the relevant provisions of Codified Law 2190/1920, based on the Statement of Financial Position as
at 31 December 2015, which has been based on the Company's financial statements for 2015 which have
been audited by other certified public accountants and have been published.
In the context of this contribution of assets (industrial sector and part of commercial sector), Company’s
Management commissioned DFK PD AUDIT S.A. and specifically the Certified Auditors Mr. Nikolaos
Tsiboukas (Greek ICPA Reg. No.: 1715) and Mr. Apostolos Spoutis (Greek ICPA Reg. No.: 1692), to
draw up a Report on the Market Value of the Assets of the contributed sector, based on Statement of
Financial Position as at 31 December 2015 and article 52 of Law 4172/2013.
It is noted that:
- This task did not consider and did not intend to consider whether the decision to contribute the
Company's assets was correct or not.
- The opinion expressed on the proposed terms of sector contribution was based on financial
statements and information provided to us by the Company, which we deemed to be accurate
and full.
- Company’s Management is responsible for the preparation and fair presentation of the Statement
of the assets and liabilities to be transferred at market value.
- The valuation of certain assets was carried out by third independent valuers on whose work we
were based to specify the market value of such assets.
4 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
- The procedures carried out are not equivalent to an audit or a review pursuant to the International
Standards on Auditing or the International Standards on Review Engagements and, therefore, we
do not express any opinion or other type of assurance save those indicated in this Report.
- The due diligence or tax audit regarding the companies' financials was not part of this task.
This report replaces the report dated May 4, 2016 and it has been modified based on the provisions of law
4172/2013 which are applicable for the spin-off procedure, as discussed below. It is noted that the process
of spin-off of Company's industrial sector and part of commercial sector will be based on the provisions
of Article 52 of N.4172/2013.
This Report will be used solely by Company’s Management for the purposes of contribution of Assets
and Liabilities in the context of the provisions of Law 4172/2013 and should not be distributed or referred
to in whole or in part for any other purpose.
2 Establishment, term and registered office of the Contributor
Establishment: The Company was set up in 1973 under the name "HELLENIC CABLES S.A.-
HELLENIC CABLES INDUSTRY S.A." Its incorporation and initial Articles of Association were
published in Government Gazette/S.A. & LLC Bulletin 515/16-04-1973.
The company is listed on the Athens Stock Exchange (ATHEX) and is part of VIOHALCO SA/NV
Group. Its parent company is HALCOR S.A., which is also listed on the Athens Stock Exchange while
the ultimate parent company VIOHALCO SA/NV is listed on Euronext Brussels, Belgium and has
secondary listing on the Athens Stock Exchange.
Registered office: The Municipality of Athens is set as registered office of the Company while its
industrial premises are located in Thiva, Livadia and Oinofyta. The Company's offices are located at 33,
Amarousiou-Halandriou St., Marousi. By decision of the Board of Directors, the Company may set up
branches, agencies or offices anywhere in Greece or other countries.
Term: The term of the Company is set at 75 years starting on the date (16 April 1973) the approval of the
Company's Articles of Association by the competent government authority was published in S.A. and
LLC Bulletin of the Government Gazette. The term of the Company may be extended by decision of the
shareholders General Meeting.
3 Purpose of the Contributor
The purpose of the Company is to manufacture, market and trade all types of cables as well as similar
industrial products made of any metal or other raw material, and to participate in all types of entities
carrying on any economic activity, whether be similar or different from the above, in Greece and abroad.
5 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
4 Shareholders - Share Capital of the Contributor
On 31 December 2015, the shareholding of the Company was as follows:
Shareholders Number of
shares Percentage
Halcor S.A. Metal Processing 21,431,038 72.53%
Other shareholders below 5% 8,115,322 27.47%
Total 29,546,360 100%
The direct and indirect holding of the ultimate parent VIOHALCO SA amounts to 74.48%.
On 31 December 2015, the Company's Share Capital amounted to €20,977,915.60, was fully paid up and
was divided in 29,546,360 ordinary registered shares with a nominal value of €0.71 each.
5 Management - Representation of the Contributor
In accordance with the minutes of 31 August 2015, the Company's Board of Directors consists of the
following persons:
Ioannis Batsolas Chairman, Executive Member
Konstantinos Laios Vice-chairman, non-executive member
Ioannis Stavropoulos Executive member
Alexios Alexiou Executive member
Georgios Passas Executive member
Andreas Katsanos Non-executive member
Michail Diakogiannis Non-executive member
Manuel Iraola Independent non-executive member
Andreas Kyriazis Independent non-executive member
Nikolaos Galetas Independent non-executive member
Iakovos Georganas Non-executive member
Emanouil Nikolaidis Non-executive member
The term of office of the above Board of Directors, in accordance with the aforementioned minutes of the
BoD, shall expire on 30 June 2016.
6 Description of the Contributing Industry
The contributing industry consists of the three Company's manufacturing factories which are involved in
the production of telecommunications and energy cables, and copper and aluminium conductors, in
addition to participating by 100% in subsidiaries also involved in a similar production activity, and
reinforce the operative autonomy of the above manufacturing factories, constituting all together an
integral operational unit. In particular, the contributing industry is analysed as follows:
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full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
Manufacturing Factories
Factory manufacturing various cable types in Thiva (69th
km. of the Athens-Thiva Old National Road).
Factory manufacturing enamel cables, namely tinned cooper conductors and enamel Enamelled wires in
Livadia, Viotia (110th
km. of the Athens-Livadia Old National Road)
Factory manufacturing plastic Compounds in Oinofita, Viotia (53rd
km. of the Athens-Lamia Road)
Participations in Subsidiaries
The 100% participations in the subsidiaries FULGOR S.A. and LESCO E.O.O.D. is also part of the
contributing industry; these subsidiaries are also involved in the manufacturing of energy cables and
wooden packaging, respectively.
6.1 Description of the Manufacturing Process per Factory
Thiva Factory
The Thiva factory covers a total surface of 175,082 m2, including 50,181 m
2 of building facilities, and has
an annual production capacity of 60,000 tons.
The Thiva factory is involved in the manufacturing of telecommunications and energy cables.
The cables are always manufactured according to national or international specifications and have been
certified by various public or private organisations as regards the factory's capacity to produce various
types of cables.
The factory is currently certified by the following bodies: VDE (Germany), BASEC (UK), LCIE
(France), IMQ (Italy), DNV (Norway) for ship cables, CTL (USA) for wind turbine cables, etc. The
factory is also certified according to ELOT ΕΝ ΙSO 9001:2008 and ELOT EN ISO 14001:2004.
The current manufacturing process does not consist in production lines but in groups of machines that
carry out a similar processing. The main activities are as follows:
Manufacturing of conductors from copper or aluminium wires – energy cables
Manufacturing of fibre optics
Process Description for Energy Cables Manufacturing
Wire-drawing machines
The wire-drawing machines reduce the aluminium wire received as raw material, with cold-drawing, to
smaller diameter wires.
Annealing machines
After the Cu wire-drawing, the wire is annealed in order to convert it from hard to soft and easy to
process.
Conductor torsion machines
The cable conductors, which consist of seven or more copper or aluminium wires, are manufactured by
the conduction torsion machines.
Conductor and wire insulation machines
The conductors and wires are lined with insulation in the insulation machines.
Vulcanisation Ovens
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HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
Certain types of insulation, such as PE mesh, need to remain at a certain temperature for a specific time
period so as to obtain the material mesh. To achieve this, the material remains inside the vulcanisation
ovens.
Degassing rooms
Each chamber is an insulated space and can host a cable spool with an insulated high voltage conductor.
Screening machines
Cables of 6 KV voltage and above are placed in these machines because they need protection against
short-circuit.
Cable torsion machines
When the cables have at least two or more insulated conductors, these are twisted between them in the
torsion machines, in order to form the cable; various tapes are placed on the the cable, such as tapes for
torsional restraint, tapes for waterblocking, semi-conductive tapes, etc.
Sheathing machines for intermediate and final products
A plastic sheath is placed over the twisted cable with the tapes. This is followed by cooling and spooling
on cable spools.
Cable armour machines
If so required by the specification, the cable is reinforced against mechanical stress with an armour over
the sheath.
Process Description for Fibre Optics Manufacturing
Manufacturing starts with painting the fibre optics (in case of multimode fibres). Then, the fibres are
placed in groups of 1, 2, 4, 6, 8, 12 or 24 fibres, depending on the type of cable to be manufactured, and a
protective sheath is placed over them during the extrusion process, which waterblocks the fibres and also
improves their mechanical properties. The small tubes are twisted and grouped so as to form the optical
cable cores in the cable torsion machine. The cable cores are directed to the sheaths line, in order to place
the external protective sheath.
The optical cables are checked during the final and all the intermediate stages, in terms of both the
mechanical and optical qualities of the cable.
All the materials received, as well as the cables during the intermediate and final stages are checked
pursuant to the specifications.
Lead lining machine
Certain cables with special specifications, such as cables in refineries, require protection with a lead
sheath.
8 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
Livadia Factory
The Livadia factory covers a total surface of 121,818 m2, including 13,939 m
2 of building facilities, and
has an annual production capacity of 14,000 tons.
The Livadia factory is involved in wire manufacturing, namely the manufacturing of soft and hard wires
used to feed the Enamelled wires department and in the manufacturing of Enamelled wires (Enamelled
wires manufacturing department).
The manufacturing process for wires and Enamelled wires is as follows:
Wires Manufacturing Department
The production process of the wires manufacturing department process (drawing department) includes the
following stages:
Transportation – Storage of raw material (copper wire, 8.00mm diameter), Checking and Loading
copper rod on the wire-drawing machines.
Reducing the rod, with moulds using emulsions (wash oils), to the desired diameter.
Series annealing (depending on the desired product) for the manufacturing of soft wire.
Spooling the wire on cable spools and/or baskets, checking and transportation of the cable spools or
baskets.
Enamelled wires Manufacturing Department
The manufacturing of Enamelled wires, which are used as raw material in the industries involved in the
construction of motors, transformers, coils etc., is the main factory activity.
The manufacturing of Enamelled wires includes the application of an electrical insulating layer (enamel)
on the wire surface. Moreover, the wire surface also needs a properly specified lubricant layer to ensure
proper reeling.
The manufacturing process of Enamelled wires is generally linear; in other words, after manufacturing the
naked wire with cold-drawing, the wire is washed and undergoes annealing. The application of
insulation, the drying, the baking of the resin and the application of the lubricant are the next stages in
which solvents are used.
The stages of reeling wire manufacturing are listed in detail in the following paragraphs:
Final reduction: The wire is reduced to the desired diameter passing through moulds, using
emulsions (wash oils).
Annealing: The reduction process is followed by annealing, where the wire passes through pipes
heated with electrical resistances (at a 500-700οC temperature) in an inert atmosphere (steam) in
order to prevent its oxidation and, at the same time, to achieve its softening.
Varnish application: The next step in the process is the application of varnish, followed by drying
and baking the varnish "film".
Oven-Baking: The wire coated with varnish passes through the oven where the varnish "film" is
baked. Then, the wire returns to be coated with an additional layer of varnish "film".
Lubricant application: Depending on the requirements for final products, the Enamelled wires,
before spooled on the reel, must be lubricated.
9 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
Enamelled wires are mainly used for reels and coils. These are used in a broad range of applications,
such as microscopic coils for medical devices, watches, microphones, earphones, relays, motors,
transformers. In Enamelled wires, the electrical insulation directly affects the operability and safety of
the devices.
Oinofita Factory
The Oinofita factory covers a total surface of 21,263 m2, including 9,072 m
2 of building facilities, and has
an annual production capacity of 24,000 tons. Elastic and plastic Compounds are manufactured in the
factory. The manufacturing process of the existing installation for Elastic and Plastic Compounds
Manufacturing is split in two production lines, the Plastic Compounds Manufacturing Line and the Elastic
Compounds Manufacturing Line.
Plastic Compounds Manufacturing Line
At the Plastic Compounds Manufacturing Line, the raw and auxiliary materials from the silos and big
bags are transported with pneumatic transport (air transport through closed pipes) on a bucket scale and
weighed. When the feeding/loading of the scale is completed, the materials are directed to a mixer and
stirred to create a homogenised mixture.
The homogenized mixture is then directed, using gravity, to the next stage for cooling. When the
temperature of the homogenized mixture reaches the level foreseen, the mixture is directed, using gravity,
to a waiting funnel. Finally, the mixture is plasticized and granulated.
The product manufactured in this line is in the form of grains. The granulated product is then cooled and
the final product (grains) undergoes quality control after cooling.
Following quality control, the final product is packed in big bags with pneumatic transport.
Elastic Compounds Manufacturing Line
On the elastic Compounds manufacturing line, raw and auxiliary materials are directed with pneumatic
transport to the bucket scale, where they are weighed. The next stage after weighing is mixing.
The manufacturing of elastic Compounds is a less automated process, due to the large number of
materials (raw and auxiliary materials) added during the manufacturing process, as well as due to the
large variety of the products manufactured.
During the mixing stage, the operator throws into the mixer the auxiliary materials already weighed and
placed on the buckets. The raw and auxiliary materials already weighed on the bucket scale are also
directed to the mixer, and the necessary quantities of plasticizers are added. The mixture is homogenized
with stirring and kneaded, so as to achieve full homogenization, and it is directed either to the granulator
where it is shaped in grains or to a system of cylinders where it is shaped in a film.
The final processing method depends on the type of the product manufactured. Before packaging, the
products undergo a quality control.
FULGOR Factory
The FULGOR factory is located at Soussaki, Corinthia, at a building plot with a total surface of 218,247
m2, including 80,048 m
2 of building facilities. The production capacity amounts to 50,000 tons of cables
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HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
and 120,000 tons of Φ8 wires annually. FULGOR was integrated in the family of Hellenic Cables Group
companies in June 2011, as one of the most innovative companies in the industry of high quality
technologically advanced products manufacturing and turnkey projects provision. FULGOR is, among
other things, one of the rare companies specializing in submarine cable interconnections.
In order to satisfy the technical specialities of developing technologically advanced products through the
mother company, Hellenic Cables S.A., a knowhow transfer agreement has been signed with the Viscas
company, one of the top manufacturers of submarine cables and subsidiary of the Japanese companies
Fujikura and Furukawa.
The main categories of products manufactured by FULGOR are as follows:
o Underground and submarine power cables (low voltage, high and ultra-high voltage)
o Optical cables (underground and submarine)
o Underground and submarine complex cables (power cables: low voltage, high/ultra-high voltage
with fibre optic)
o Telecommunications cables
o Compact copper rods
o Compact aluminium rods
o Conductors
LESCO Factory
The LESCO E.O.O.D. factory is located in Blagoevgrad, Bulgaria and is exclusively involved in the
manufacturing of wooden spools used for the reeling of various cables. Specifically, the factory is located
at a building plot with a total surface of 25,000 m2, including 3,398 m
2 of building facilities. The
production capacity amounts to 16,500 tons of wooden packaging products, such as lids, spools, pallets
and crates.
The company's continuous investments on new, technologically advanced infrastructures, as well as the
adequacy of its raw materials, have allowed it to manufacture specialized wooden packaging items with
various applications in the industry.
6.2 Description of the Industrial Products Manufactured
The Company produces a broad variety of industrial high tech products, which are placed on the markets
where it is involved (Greece and abroad) with the internationally patented trademark Cablel@
. The main
categories of manufactured products are:
- Power cables-conductors:
High and ultra-high voltage
Medium voltage cables
Cables for internal installations
Control cables
Cables for industrial uses and external installations
Low fire hazard-fireproof-halogen free cables
Cables for ships and naval installations with increased fire resistance
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HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
ACSR , CU copper (earthing), AI aluminium conductors
Copper and aluminium rods
- Telecommunications and data transfer cables
Measurement and control cables
Cooper conductor cables:
- Conventional telephone cables
- Telephone centres cables
- Data transfer cables
- High frequency telephone cables
Fibre optic cables (monomode and multimode)
- Underground dielectric piping cables
- Underground direct burial cables (with copper armour)
- Underground dielectric anti-rodent protection cables
- Cables for internal installations LSZH (central tube or tight buffered)
- Cables for overhead installations ("8" shaped or ADSS)
Road and railway signalling cables
- Submarine cables
Medium and high voltage power cables
Complex medium and high voltage power cables with integrated fibre optic cables
Fibre optic cables
- Plastic and elastic Compounds
Plastic Compounds with a PVC basis
Plastic Compounds with a polyolefin basis
Elastic Compounds
- Enamelled wires
Enamelled wires for electric motors and transformers
Cooper wires for box-making
Cooper wires for earthing
7 Description of Contributed Part of Commercial Sector
The contributed part of the commercial sector consists of all purchased goods which the Company obtains
from third parties as a supplement to Company-manufactured products and, therefore, supplement its
manufacturing activities and enhance the operational independence of the Company's industrial sector.
Specifically, the contributed part of the commercial sector is broken down as follows:
- Purchased goods which are sold internationally (e.g. companies, public utilities, through direct selling
or tenders, turn key projects, etc.).
- Purchased goods which are sold to private and public sector corporations and public utilities in Greece
- Purchased goods which are sold to technology and construction companies in Greece.
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full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
8 Approach to project and audit procedures
The Contributor and the Acquirer keep their accounting books pursuant to the double-entry method in
accordance with the relevant provisions of Law 4308/2014 on "Greek Financial Reporting Standards",
based on IFRS, as such have been adopted by the European Union.
The Statement of Financial Position of the Contributor on 31 December 2015 has also been prepared
pursuant to IFRS, as such have been adopted by the European Union.
The Statement of Financial Position of the contributed sector was prepared by the Contributor's
Management, following count of all assets and liabilities.
When implementing the relevant provisions of Greek Financial Reporting Standards (GRFS), the
Contributor keeps an adequate Accounting System and keeps track of each balance sheet item and any
changes thereof in a separate file. Accounting records are electronically kept and include a breakdown
of all items of the Statement of Financial Position.
By way of example, we indicate some records we took into account to review the Statement of Financial
Position.
- Records of tangible and intangible assets
- Records of investments in debt securities
- Records of own inventory
- Records of third-party inventory
- Records of other assets
- Records of equity items
- Records of liability accounts
- Records of assets and liabilities in Foreign Currency
Our review was limited to the reconciliation between items of the Statement of Financial Position as at
31 December 2015 and the relevant accounting records, and to the measurement at market/ actual values
of the separate items of the Statement of Financial Position. Specifically:
The amounts posted in the Statement of Financial Position were compared with the respective
amounts of the Accounting Records electronically kept by the Contributor.
We reviewed the accounts included in the Statement of Financial Position as to whether their
measurement at market value was fair.
The relevant provisions of Article 52 of Law 4172/2013, which apply to this contribution of the
industrial sector and part of the commercial sector, are as follows:
- Contribution of assets does not entail, at the time of contribution, taxes on goodwill which is
calculated based on the difference between the market value of the transferred assets and liabilities
and their book value.
- The Acquirer amortises assets in accordance with the rules that would apply to the Contributor if no
contribution of assets had taken place.
- The Acquirer may assume reserves and provisions raised by the Contributor, which are related to the
transferred operating sector(s) and which would benefit from tax relief under the conditions that
would apply to the Contributor if the transfer had not taken place.
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HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
- The Acquirer assumes the rights and obligations of the Contributor with respect to the above reserves
and provisions.
- The Acquirer may transfer the tax losses of the Contributor which are related to the transferred
operating sector(s) under the same conditions that would apply to the Contributor if the transfer had
not taken place.
- The Contributor measures the securities received from the acquirer at their market value at the time
of transfer.
- The above provisions apply only if the Contributors and the Acquirers have their tax residence in
Greece or other Member State of the European Union.
- The Contributor shall be obliged to keep the securities obtained from the contribution of assets for a
period of at least three (3) years unless the Contributor proves that the transfer of securities does not
aim at tax avoidance or tax evasion.
- The Contributor and the Acquirer must both fall under the same tax regime.
9 Valuation method
To deduce our conclusions, we used the method of actual net worth as the most advisable for the specific
transaction of contribution of the industrial sector and part of the commercial sector to the wholly-owned
subsidiary SYMM.EP. S.A. Specifically by applying Article 52(3) of Law 4172/2013, which stipulates:
"… the contribution of assets is calculated based on the difference between market value of the
transferred assets and liabilities and their book value", we specified the actual net worth of the
contributed sector as follows:
Actual net worth of the contributed industrial sector and part of the commercial sector shall mean the net
assets which is the difference between the total market value of assets and the respective liabilities
according to the Statement of Financial Position as at 31 December 2015. The said method consists in
restating the net worth of the contributed industrial sector and part of the commercial sector based on the
review of the Statement of Financial Position and the recent assessments of assets as well as of any
additional information provided to us.
Therefore, this method requires review and eventually adjustment of the book value of assets and
liabilities.
Please find below the assets the value of which needs adjustment:
a) Tangible assets such as property, plant, equipment, etc.
b) Intangible assets such as patents, trademarks, etc.
c) Value of holdings,
d) Value of inventory,
e) Current/ collectible value of receivables
f) Current value of liabilities
Under this method, the value of each one of the above items is adjusted if there are indications that their
book value is higher or lower than their current (market) value.
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HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
To implement this method, the audited Statement of Financial Position of the Contributor as at 31
December 2015, prepared as per IFRS, was taken into account.
Note also that the Contributor is listed on the Athens Stock Exchange and publishes its financial
statements in accordance with IFRS.
Since 2014, the Contributor has chosen to measure its Fixed Assets (Property, Plant, Equipment) at fair
value and, therefore, no significant variation arose from the valuations carried out.
Below we lay down the method applied to the separate items of assets and liabilities as well as the
necessary analyses and explanations to determine their actual value.
10 Valuation methodology for the contributed assets and liabilities
Separate assets and liabilities of the Statement of Financial Position were valued as follows:
Fixed assets: Fixed assets such as fields-lots, buildings-building installations, machinery and
investment property were measured at their current market value on 31.12.2015.
To determine the market value thereof, we were based on the valuation reports we received from
independent valuers. The market value of separate items was specified as follows:
Fields-Lots, Investment Property: The method of comparable evidence or real estate market was
applied to Fields and Lots. According to this method, the value is specified based on the conclusions
drawn from research and collection of comparable evidence, namely evidence having the highest
possible similarity of characteristics with the property to be assessed. The specific characteristics of the
subject-matter of valuation are taken into account to implement this method. Indicative characteristics:
Location of property, which is unique for each property and constitutes a significant
consideration for specifying its value
Physical characteristics of the property such as size, shape, street layout, soil morphology, etc.
Town planning regime governing the property (namely the terms and restrictions of construction,
permitted uses, etc.)
The time to which the comparable evidence refers in conjunction with the situation of the real
estate market at the given time.
Buildings: The method of residual replacement was applied to buildings. Under this method, the value
of the field in which the assessable building or building complex has been constructed is initially
specified and thereafter the residual replacement cost (or restoration cost) of buildings, facilities and
other land improvement measures is co-calculated. Residual value depends on the age, maintenance
level, quality and construction specifications as well as the utility and functionality of buildings and
facilities. This method is usually applied to value properties including industrial premises and generally
tailor-made buildings or other special properties for which no other valuation method can be easily
implemented.
Machinery – technical installations: The method of historical acquisition cost and current replacement
cost was applied to machinery and technical installations. This particular method makes use of the
quoted acquisition cost, current replacement cost and useful life as well as the impairment of equipment
due to physical, functional and technical obsolescence. Acquisition cost of equipment is converted to
current values of new equipment based on special indicators of the Hellenic Statistical Authority, pro
rata with the year of acquisition of such equipment. Impairment due to operational damage and
15 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
technical or other obsolescence is calculated based on the current value of new equipment and its useful
life up to the lowest value which is the value it would have if it were scrap. To establish impairment,
equipment maintenance level is also taken into account and is assessed based on experience from visual
control and productivity following relevant inspections.
Investment property: Investment property was measured at fair value using the method of comparable
evidence or real estate market.
Intangible assets: Intangible assets were measured at acquisition cost less accumulated depreciation.
Depreciation was carried out throughout the useful life of assets.
Holdings in subsidiaries and affiliates: Investments in subsidiaries and affiliates were measured at
their fair value. To specify such value, we were based on valuation reports of independent valuers.
Inventory: Inventory was measured at the lower between acquisition cost and net realisable value. Net
realisable value was measured based on the expected selling price of inventory in the ordinary course of
business less any completion and sales costs, if any.
Trade and Other Receivables: Receivables were reviewed in terms of doubtful debts and the
necessary provisions were raised so that their balance reflects their fair value.
Derivative Financial Assets/ Financial Liabilities: They were measured at fair value using other
indisputable active market quoted prices.
Loans & Other Liabilities: Liabilities were analysed in terms of nature and amounts due, and were
measured at their fair value.
The actual/ market value of assets of the contributed sector as presented in the Statement of Financial
Position as at 31 December 2015 is detailed in this report in paragraph 11 below.
11 Breakdown of Statement of Financial Position as at 31 December
2015 of the contributed sector (amounts in Euro)
11.1 Assets
11.1.1 Tangible fixed assets
Tangible fixed assets Part of Contributed
Sector on 31.12.2015
Balance of Remaining
Sector on 31.12.2015
Pre-contribution Total
on 31.12.2015
Fields - lots 3,304,646.79 - 3,304,646.79
Industrial premises - Buildings 23,429,494.36 - 23,429,494.36
Machinery - technical facilities 42,766,678.75 - 42,766,678.75
Means of transport 122,065.30 0.02 122,065.32
Furniture and other fixtures 1,104,868.78 - 1,104,868.78
Fixed assets under construction 1,630,211.71 - 1,630,211.71
Total 72,357,965.69 0.02 72,357,965.71
The Company will transfer almost all its fixed assets since in its opinion they concern its industrial sector
and part of the commercial sector. The remainder concerns certain fully amortised means of transport.
The relevant breakdown per category of fixed asset is set forth below.
16 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
Fields - Lots
Fixed asset
Code Fixed asset description
Acquisition
cost on
31.12.2015
Amortised
items on
31.12.2015
Non-amortised
value
31.12.2015
10000001 KYPRION AGONISTON St., OINOFYTA 183,700.00 - 183,700.00
10000002 KYPROU St., OINOFYTA 57,826.00 - 57,826.00
10000005 KALAMI LOCATION, LIVADIA 213,127.20 - 213,127.20
10000007 KALAMI LOCATION, LIVADIA 304,824.00 - 304,824.00
10000010 TEBELI LOCATION, OINOFYTA 637,847.40 - 637,847.40
10000011 AG. TRYFONAS, THIVA 1,552,252.79 - 1,552,252.79
10000019 THISVI Industrial Zone, THISVI 355,069.40 - 355,069.40
Total 3,304,646.79 - 3,304,646.79
The specific items of Fields - Lots are as follows:
Fixed
asset
Code Prefecture Municipality
Municipal
District Street-Location
Conveyance deed
No. Sq. m.
10000001 VIOTIA OINOFYTA OINOFYTA
LOCATION/ Oinofyta,
Kyprion Agoniston St. 41615 3,340
10000002 VIOTIA OINOFYTA OINOFYTA LOCATION/ Oinofyta, Kyprou St.
8744 2,313
10000005 VIOTIA KORONIA
AG.
GEORGIOS LOCATION/ KALAMI 2342 83,715
10000005 VIOTIA KORONIA AG. GEORGIOS LOCATION/ KALAMI
8744 27,576
10000005 VIOTIA KORONIA
AG.
GEORGIOS LOCATION/ KALAMI 8744 7,559
10000007 VIOTIA KORONIA AG. GEORGIOS LOCATION/ KALAMI
8744 2,968
10000010 VIOTIA OINOFYTA OINOFYTA LOCATION/ TEBELI 9221 21,263
10000011 VIOTIA THIVA THIVA
LOCATION/ AG.
TRYFONAS 9822 175,082
10000019 VIOTIA THISVI DOMVRENI THISVI Industrial Zone -
Thisvi
12141/7-4-2000 &
8761/15-3-2007 101,448
The Fields - Lots of the contributed sector are included in the electronic "Records of Tangible and
Intangible Assets".
The present value of Fields - Lots which accommodate the Company's manufacturing facilities was
specified by the independent valuation company "AXIES S.A.".
In its Report dated 28 April 2016, AXIES S.A. specified the value of fields on 31 December 2015 as
follows.
Fixed asset Code Street-Location Fair value on
31.12.2015
10000001 KYPRION AGONISTON St., OINOFYTA 150,000.00
10000002 KYPROU St., OINOFYTA 50,000.00
10000005, 10000007 KALAMI LOCATION, LIVADIA 390,000.00
10000010 TEBELI LOCATION, OINOFYTA 530,000.00
10000011 AG. TRYFONAS, THIVA 1,090,000.00
10000019 THISVI Industrial Zone, THISVI 350,000.00
Total 2,560,000.00
For the purposes of this Contributed Sector Market Value Report, the adjusted value of Fields - Lots is
reduced by €744,646.79 and set at €2,560,000.00.
The valuation of the independent valuer was based on the method of comparable evidence in accordance
with RICS standards (Valuation Professional Standards 2014-The Red Book).
17 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
Industrial-Building Sites
Fixed Asset
Code Fixed Asset Description
Acquisition
Value
31.12.2015
Amortised
31.12.2015
Unamortised Value
31.12.2015
11.00 BUILDINGS_BUILDING INSTALLATIONS 21,511,090.10 995,921.93 20,515,168.17
11.03 SITE LAYOUTS SUBJECT TO AMORTIZATION 2,938,303.50 132,877.98 2,805,425.52
Total 24,449,393.60 1,128,799.91 23,320,593.69
11.09 REMAINING STRUCTURES IN THIRD PARTY REAL
ESTATE 219,353.95 110,453.28 108,900.67
General Total 24,668,747.55 1,239,253.19 23,429,494.36
A detailed description of the contributing Industrial-Building Sites is listed below:
Fixed Asset
Code Fixed Asset Description
Acquisition
Value
31.12.2015
Amortised
31.12.2015
Unamortised
Value 31.12.2015
Oinofita Industrial Site
11000023 PLASTIC ELASTIC WORKS 2,295,477.96 119,541.47 2,175,936.49
11000026 PLASTICS STOREROOM 78,855.80 4,150.31 74,705.49
11000036 MAINTENANCE SHOP (MACHINE SHOP) 9,983.08 525.43 9,457.65
11000046 NEW OIL TANKS FOR COMPOUNDS WORKS 37,835.96 1,709.45 36,126.51
11000047 MACHINE SHOP BUILDING FOR COMPOUNDS WORKS 5,736.22 301.91 5,434.31
11000055 FOLDING STOREROOM FOR COMPOUNDS MATERIALS 125,018.99 5,726.06 119,292.93
11000078 KESER AIR COMPRESSOR CUBICLE 9,225.07 922.51 8,302.56
11030005 CONNECTING ROAD WITH ELVAL (FORMER TELE-CABLES)
263,110.70 13,847.93 249,262.77
Total (Α) 2,825,243.78 146,725.07 2,678,518.71
Livadia Industrial Site
11000002 BUILDING Α (WIRE-DRAWING) 3726 M2 534,326.94 28,122.47 506,204.47
11000003 BUILDING Β (ENAMEL) 3228 M2 624,756.21 32,881.91 591,874.30
11000004 BUILDING C 371,661.98 19,561.16 352,100.82
11000006 GATE-PORTER'S LODGE 20,657.26 645.54 20,011.72
11000007 PUMP HOUSE TANK 4,071.76 214.30 3,857.46
11000008 FACTORY EXTERNAL SPACES 10,404.00 547.58 9,856.42
11000009 NEW WATER SUPPLY NETWORK 10,404.00 547.58 9,856.42
11000010 NEW STOREROOM 0.01 0.00 0.01
11000011 NEW COMPUTER DESKS 0.01 0.00 0.01
11000014 CONTROL FENCING AT LIVADIA FACTORY 3,060.00 161.05 2,898.95
11000015 NEW WATER SUPPLY TANK 2,878.19 151.48 2,726.71
11000024 OFFICES AT LIVADIA FACTORY 223,156.13 11,745.06 211,411.07
11000025 ROOM Ε 843,399.44 44,137.34 799,262.10
11000027 ROOM Η 1842.59 M2 567,886.40 29,888.76 537,997.64
11030001 FENCING AT LIVADIA FACTORY 235,273.78 12,382.83 222,890.95
Total (Β) 3,451,936.11 180,987.06 3,270,949.05
Thiva Industrial Site
11000016 BUILDING Α' 21545.18 M2 4,415,276.32 231,984.70 4,183,291.62
18 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
11000017 BUILDING Β' 5950.74 M2 1,521,077.74 80,056.72 1,441,021.02
11000018 PUMP HOUSE BUILDING 60.00 M2 21,125.35 1,111.86 20,013.49
11000019 OFFICE BUILDING 977.98 M2 402,067.43 12,564.61 389,502.82
11000020 HOSTEL BUILDING 255.18 M2 109,436.39 3,419.89 106,016.50
11000021 PORTER'S LODGE 16.00 M2 48,269.89 2,540.52 45,729.37
11000028 MAIN PUMP HOUSE AT THIVA FACTORY 188,732.41 9,933.28 178,799.13
11000030 SPARE PARTS STOREROOM BUILDING AT THIVA 52,218.45 2,748.34 49,470.11
11000031 WASH OILS PUMP HOUSE 28,920.26 1,522.12 27,398.14
11000032 WASH OILS PUMP HOUSE 11,544.71 607.62 10,937.09
11000033 MAIN PUMP HOUSE 22,759.63 1,197.88 21,561.75
11000034 PLASTIC STOREROOM FOR MATERIALS 195,613.11 10,295.43 185,317.68
11000035 PACKAGING OFFICES 17,168.46 903.60 16,264.86
11000038 WATER NETWORK AT THIVA FACTORY 587,366.01 30,914.00 556,452.01
11000039 ELECTRICAL NETWORK AT THIVA FACTORY 392,319.96 20,648.42 371,671.54
11000040 FORK LIFT TRUCK WORKSHOP BUILDING 51,121.71 2,690.62 48,431.09
11000041 PACKAGING SHEDS 101,069.96 5,319.47 95,750.49
11000042 MAINTENANCE SHOP BUILDING 93,449.52 4,918.40 88,531.12
11000045 AIR COMPRESSOR ROOM-BOILER ROOM BUILDING 24,561.83 1,292.73 23,269.10
11000048 HIGH VOLTAGE LINE TOWER 603,585.25 31,767.64 571,817.61
11000050 PNEUMATIC TRANSPORT SYSTEM INSTALLATION 20,853.10 1,097.53 19,755.57
11000051 SUBSTATION BUILDING Νο 3 (Drawing X1) 362,695.99 18,134.80 344,561.19
11000052 SUBSTATION BUILDING Νο 2 (Drawing P) 51,407.45 2,570.37 48,837.08
11000053 THIVA FACTORY NETWORKS 40,742.41 2,144.34 38,598.07
11000056 FOLDING STOREROOM FOR THIVA MATERIALS 204,898.68 9,420.63 195,478.05
11000057 CONTROL CAGE ROOM 309,685.62 14,130.14 295,555.48
11000058 PERCUSSION BUILDING CONSTRUCTION (ΚΜ2) 176,833.18 7,129.37 169,703.81
11000059 UNDERGROUND TUNNEL CONSTRUCTION Νo 1 238,273.81 6,468.97 231,804.84
11000060 METALLIC BUILDING CONSTRUCTION (ΜΚ1) 343,859.99 14,427.69 329,432.30
11000062 MEDIUM VOLTAGE TOWER CONSTRUCTION 490,243.07 13,309.77 476,933.30
11000063 DEGASSING ROOMS BUILDING (DR2 - 402 M2) 252,176.41 10,120.79 242,055.62
11000064 TESTS BUILDING (KDMD - 269 M2) 286,815.20 11,510.98 275,304.22
11000065 METALLIC BUILDING ΜΚ3 (514 M2) 194,873.83 7,954.03 186,919.80
11000066 CHANGING ROOMS BUILDING Α41(44 M2) 32,783.46 1,333.56 31,449.90
11000067 UNDERGROUND TUNNEL CONSTRUCTION (ΤUN2) 234,131.90 6,081.35 228,050.55
11000068 NEW TOWER CONSTRUCTION (PΥΤ3) 249,014.55 6,467.91 242,546.64
11000069 METALLIC BUILDING CONSTRUCTION (15Χ25 Μ) 14,228.52 369.57 13,858.95
11000076 POURTIER MACHINE BUILDING 1,239,210.01 46,181.74 1,193,028.27
11000077
BUILDING FOR CONNECTION WITH DΕΥΑΤΗ
(MUNICIPAL WATER SUPPLY AND SEWAGE
COMPANY OF THIVA)
42,463.19 1,887.25 40,575.94
11000079 NEW METALLIC STOREROOM BUILDING 705,261.49 23,345.91 681,915.58
11000080 WEST RAINWATER DISCHARGE NETWORK 108,821.36 5,441.07 103,380.29
11000081 MILIKEN BUILDING 308,625.46 0.00 308,625.46
11000082 BUILDING Α51 51,264.85 0.00 51,264.85
11030004 PACKAGING LOADING RAMP 22,843.28 1,202.28 21,641.00
11030007 SITES LAYOUT AT THIVA FACTORY 545,181.49 28,693.76 516,487.73
11030008 SITE FENCING AT THIVA FACTORY 204,557.58 10,766.19 193,791.39
11030009 NEW TRAFFIC CONNECTION JUNCTION 279,394.16 14,704.96 264,689.20
19 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
11030010 EXTENSION OF SQUARE FOR STORING SPOOLS IN
THIVA 407,721.08 17,227.65 390,493.43
11030013 WEST WING OF SITE LAYOUT AT THIVA 57,813.50 2,267.20 55,546.30
11030015 NORTH-EASTERN WING FENCING 55,737.09 2,185.77 53,551.32
11030017 SOUTH SIDE SITE LAYOUT 414,218.40 10,355.46 403,862.94
11030018 COST OF FACTORY PERIMETRIC SECURITY SYSTEM 450,481.83 19,163.23 431,318.60
Remaining (unamortised value < 10,000 Euros) 16,306.49 1,570.84 14,735.65
Total (C) 17,301,102.82 774,102.96 16,526,999.86
Blocks of Flats
11000001 BLOCKS OF FLATS AT OINOFITA (KYPRION
AGONISTON STR.) 675 M2 523,180.00 16,299.38 506,880.62
11000012 TOWER BLOCK APARTMENTS IN KYPROU STR. 347,930.89 10,685.44 337,245.45
Total (D) 871,110.89 26,984.82 844,126.07
Total (Ε)=(Α)+(Β)+(C)+(D) 24,449,393.60 1,128,799.91 23,320,593.69
Remaining Structures
11090001 STRUCTURES IN SERVICE STATION 64,272.63 44,401.49 19,871.14
11090002 IMPROVEMENT OF KIFISSOS OFFICES 96 26,664.36 14,732.03 11,932.33
11090003 IMPROVEMENT OF THESSALONIKI OFFICES 61,878.28 33,030.31 28,847.97
11090004 IMPROVEMENT OF INDUSTRIES 57 KM. 0.01 0.00 0.01
11090005 RECONSTRUCTION OF FENCING SECTION 1,924.00 610.87 1,313.13
11090006 IMPROVEMENT OF FENCING & SECURITY SYSTEM IN
THESSALONIKI 64,614.67 17,678.58 46,936.09
Total (F) 219,353.95 110,453.28 108,900.67
General Total for Industrial-Building Site (Ε)+(F) 24,668,747.55 1,239,253.19 23,429,494.36
The Industrial Sites-Buildings of the contributed sector are included in the electronic "Records of
Tangible and Intangible Assets".
The present value of Industrial Sites-Buildings which accommodate the Company's manufacturing
facilities was specified by the independent valuation company "AXIES S.A.".
In its Report dated 28 April 2016, AXIES S.A. specified the value of Industrial Sites-Buildings on 31
December 2015 as follows.
Street-Location Unamortised
Value 31.12.2015 Fair value 31.12.2015
OINOFITA INDUSTRIAL SITE 2,678,518.71 2,752,493.04
LIVADIA INDUSTRIAL SITE 3,270,949.05 3,364,790.00
THIVA INDUSTRIAL SITE 16,526,999.86 16,899,446.48
TOWER BLOCK APARTMENTS (OINOFITA-KYPRION AGONISTON
STR.) 506,880.62 501,600.00
TOWER BLOCK APARTMENTS (OINOFITA-KYPROU STR.) 337,245.45 325,996.89
Totals 23,320,593.69 23,844,326.41
On 31.12.2015, the book value of the Company's industrial premises to be assessed amounted to
€23,320,593.69 (general ledger accounts 11.00 "Buildings - Fixtures" and 11.03 "Depreciable land
improvements").
For the purposes of this "Contributed Sector Market Value Report" the adjusted value of the Industrial
Premises-Buildings" is increased by €523,732.72 and set at €23,844,326.41.
20 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
The valuation of the independent valuer was based on the method of comparable evidence in accordance
with RICS standards (Valuation Professional Standards 2014-The Red Book).
Note that the fair value of the above table includes the additions of fixed assets carried out during 2015
which amounted to €444,326.41 and had not been taken into account when the fair value was calculated
by the independent valuer.
Machines-Technical Installations
Account Description
Acquisition
Value
31.12.2015
Amortised
31.12.2015
Unamortised
Value
31.12.2015
1200 MACHINES 39,398,621.06 3,065,438.82 36,333,182.24
1201 TECHNICAL INSTALLATIONS 1,632,156.87 305,078.92 1,327,077.95
Total for Machines and Technical Installations (Α) 41,030,777.93 3,370,517.74 37,660,260.19
1203 TOOLS 675,387.85 248,519.29 426,868.56
1204 MOULDS - JIGS 1,104,760.77 665,352.72 439,408.05
1205 MECHANICAL INSTRUMENTS 5,230,093.04 2,735,241.64 2,494,851.40
1206 REMAINING MECHANICAL EQUIPMENT 4,669,141.86 2,940,669.90 1,728,471.96
1214 MOULDS - JIGS 5,336.92 5,336.85 0.07
1618 LOAN INTEREST DURING THE CONSTRUCTION
PERIOD 26,631.00 9,812.48 16,818.52
Total for Tools and Remaining Mechanical Instruments (Β) 11,711,351.44 6,604,932.88 5,106,418.56
General Total (Α)+(Β) 52,742,129.37 9,975,450.62 42,766,678.75
The Machines-Technical Installations of the contributed sector are included in the electronic "Records of
Tangible and Intangible Assets".
A breakdown of the contributed machinery, as arising from the electronic "Records of Tangible and
Intangible Assets" kept by the Company, is set out in Annex III.
The present value of the Company’s Machines-Technical Installations was specified by the independent
valuation company "AXIES S.A.".
In its Report dated 28 April 2016, AXIES S.A. specified the value of Machines-Technical Installations on
31 December 2015 as follows:
Street-Location Unamortised Value
31.12.2015 Fair value 31.12.2015
MECHANICAL EQUIPMENT AT OINOFITA 2,088,135.39 1,930,000.00
MECHANICAL EQUIPMENT AT LIVADIA 1,681,180.37 1,601,983.17
MECHANICAL EQUIPMENT AT THIVA 33,890,944.43 32,332,907.60
Total 37,660,260.19 35,864,890.77
On 31.12.2015, the book value of the Company's machinery to be assessed amounted to €37,660,260.19.
For the purposes of this "Contributed Sector Market Value Report" the adjusted value of "Machinery-
Technical facilities" is reduced by €1,795,369.42 and amounts to €35,864,890.77.
The valuation of the independent valuer was based on the method of comparable evidence in accordance
with RICS standards (Valuation Professional Standards 2014-The Red Book).
21 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
Note that the fair value of the above table includes the additions of fixed assets carried out during 2015
which amounted to €831,890.77 and had not been taken into account when the fair value was calculated
by the independent valuer.
The separate items of the account "Machinery-Technical facilities" such as tools, moulds, mechanical
instruments etc. were measured at their non-amortised value due to their large volume and small
individual value. The above assets (tools, moulds, mechanical instruments, etc) are amortised at an annual
rate of 10%.
Transport Means
Account Description
Acquisition
Value
31.12.2015
Amortised
31.12.2015
Unamortised
Value 31.12.2015
13.01 REMAINING PASSENGER CARS 17,000.00 7,012.50 9,987.50
13.02 SPECIAL USE TOW TRUCKS 83,348.00 83,347.94 0.06
13.06 INTERNAL TRANSPORT MEANS 1,135,381.18 1,027,903.53 107,477.65
13.09 REMAINING TRANSPORT MEANS 8,330.06 3,729.97 4,600.09
Total 1,244,059.24 1,121,993.94 122,065.30
The means of transport of the contributed sector are included in the electronic "Records of Tangible and
Intangible Assets" and were measured at their non-amortised value which is estimated to account for their
current market value.
A breakdown per category of the means of transport to be transferred to the Acquirer is laid down below,
as arising from the electronic "Records of Tangible and Intangible Assets" kept by the Contributor:
Remaining Passenger Cars
Fixed
Asset
Code
Fixed Asset Description Registration
Plates No.
Acquisition
Value
31.12.2015
Amortised
31.12.2015
Unamortised Value
31.12.2015
13010006 PASSENGER CAR ΙΜΕ4751
SUBARU IMPREZA 1994cc (10 CC) IME4751 17,000.00 7,012.50 9,987.50
Total 17,000.00 7,012.50 9,987.50
Cars-Trucks-Tow Trucks for Special Use
Fixed Asset Code Fixed Asset Description
Registration
Plate No.
Acquisition
Value
31.12.2015
Amortised
31.12.2015
Unamortised
Value
31.12.2015
13020002 FIORINO FURGONE (ΥΕΧ 6303) ΥΕΧ6303 7,803.11 7,803.09 0.02
13020003 TRUCK FORD TRANSIT(ΥΖΙ 9206) ΥΖΙ9206 13,792.74 13,792.72 0.02
13020006 TRUCK DAF ΖΚΤ 2819 ZKT2819 61,752.15 61,752.13 0.02
Total 83,348.00 83,347.94 0.06
Internal Transport Means
Fixed
Asset
Code Fixed Asset Description
Acquisition
Value
31.12.2015
Amortised
31.12.2015
Unamortised
Value 31.12.2015
13060058 ELECTRIC FORK LIFT TRUCK ICEM 4,800.00 2,420.00 2,380.00
13060089 No.106812 KUMATSU FD 30Τ-16R 29,999.34 22,788.09 7,211.25
13060090 No.111693-32 TONS FERARI F3212 154,157.34 132,832.25 21,325.09
13060091 No.111698 KUMATSUFD30T 3 TONS LIFTING CAPACITY
22,000.00 18,351.67 3,648.33
22 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
13060092 No.110892 ΤΟΥΟΤΑ ΄5FB25 2,500KG 10,600.00 8,842.17 1,757.83
13060093 No.111700 HYSTER H3.5FT 30,954.00 24,685.82 6,268.18
13060099 ELECTRIC MANUAL PALLET TRUCK HYSTER P2.0 4,750.00 3,265.63 1,484.37
13060100 ELECTRIC MANUAL PALLET TRUCK HYSTER P2.0 4,750.00 3,265.63 1,484.37
13060101 No.113183 KALMAR 9 TONS DCE 90-61 105,252.90 70,025.24 35,227.66
13060102 No.115640 NISSAN FORKLIFT -6t H C 33,950.00 22,095.79 11,854.21
13060103
ELECTRIC PALLET TRUCK WITH PEDESTRIAN
OPERATOR S1.5C 15,969.11 9,075.77 6,893.34
13060112 PALLET TRUCK FOR BASKETS TRANSPORT 2,207.00 22.07 2,184.93
13060113 PALLET TRUCK FOR BASKETS TRANSPORT 3,104.00 31.04 3,072.96
Remaining internal transport means (unamortised value < 1,000 Euros) 712,887.49 710,202.36 2,685.13
Total 1,135,381.18 1,027,903.53 107,477.65
A detailed list of the contributing internal transport means, derived from the electronic "File with
Tangible and Intangible Assets" maintained by the Company, is included in Annex ΙΙΙ.
Remaining Transport Means
Fixed
Asset
Code Fixed Asset Description
Acquisition
Value 31.12.2015
Amortised
31.12.2015
Unamortised
Value
31.12.2015
13090001 REMAINING TRANSPORT MEANS BICYCLE
ROYAL TM.2 ΤΜ2862 159.06 159.06 0.00
13090001 BICYCLE 1 ITEM TIM868 KASSIMATIS 111.92 111.91 0.01
13090001 GATE BICYCLE 1 ITEM ΤΙΜ1280 ZOURBA ΟΕ 161.66 161.66 0.00
13090001 BICYCLE 1 ITEM ΤΙΜ1683 ZOURBA BROS. 144.07 144.06 0.01
13090002 BICYCLE 390.00 389.99 0.01
13090003 TRICYCLE 390.00 389.99 0.01
13090004 BICYCLE 508.13 508.12 0.01
13090007 BICYCLE 113.82 113.81 0.01
13090008 BICYCLE 105.70 105.69 0.01
13090009 TRICYCLE 390.00 389.99 0.01
13090010 BICYCLE / SHIFT FOREMEN 105.70 105.69 0.01
13090011 FOUR-SEAT GOLF CAR 5,750.00 1,150.00 4,600.00
Total 8,330.06 3,729.97 4,600.09
Furniture and Remaining Equipment
Fixed Asset
Code Fixed Asset Description
Acquisition
Value
31.12.2015
Amortised
31.12.2015
Unamortised
Value
31.12.2015
14.00.00.00.00 FURNITURE 476,868.59 436,427.70 40,440.89
14.01.00.00.00 UTENSILS 143,286.33 128,510.07 14,776.26
14.02.00.00.00 OFFICE MACHINES 56,371.19 56,370.13 1.06
14.03.00.00.00 COMPUTERS 1,419,190.65 1,223,079.75 196,110.90
14.04.00.00.00 STORAGE MEANS (SPOOLS, REELS, ETC.) 2,570,311.59 1,774,000.52 796,311.07
14.08.00.00.00 TELECOMMUNICATIONS EQUIPMENT 319,043.74 311,249.64 7,794.10
14.09.00.00.00 REMAINING EQUIPMENT 365,366.33 315,931.83 49,434.50
Total 5,350,438.42 4,245,569.64 1,104,868.78
23 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
The Furniture and other fixtures of the contributed sector are included in the electronic "Records of
Tangible and Intangible Assets".
They were measured at their non-amortised value which is estimated to reflect their current market value.
Furniture and utensils/appliances are amortised at an annual rate of 10-15%.
Immobilisations in Progress
Account Description
Unamortise
d Value
31.12.2015
15.01.00.00.00 BUILDINGS-BUILDING INSTALLATIONS-STRUCTURES IN PROGRESS 190,674.32
15.02.00.00.00
MECHANICAL/TECHNICAL INSTALLATIONS-REMAINING MECHANICAL
EQUIPMENT IN PROGRESS 616,369.90
15.04.00.00.00 FURNITURE AND REMAINING EQUIPMENT IN PROGRESS 685,480.07
15.09.00.00.00 DOWNPAYMENTS FOR ACQUIRING FIXED ASSETS 67,079.66
50 FIXED ASSETS SUPPLIERS (DEBIT BALANCE) 70,607.76
Total 1,630,211.71
This mainly concerns self-production of fixed assets such as upgrade of machinery, upgrade of PC
network etc and building extension carried out by the Company in the Thiva plant.
Immobilisations in progress of the contributed sector are included in the electronic "Records of Tangible
and Intangible Assets".
11.1.2 Intangible assets
Intangible assets
Part of
Contributed Sector
on 31.12.2015
Balance of
Remaining Sector on
31.12.2015
Pre-contribution
Total on 31.12.2015
Trademarks - Patents 3,083,980.97 - 3,083,980.97
Software 617,669.27 - 617,669.27
Total 3,701,650.24 - 3,701,650.24
These are trademarks, licences of the different types of manufactured cables and software which will
constitute, in their entirety, part of the contributed sector.
In detail, they concern:
Fixed
asset
Code Fixed asset description
Acquisition
cost on
31.12.2015
Amortised
items on
31.12.2015
Non-amortised
value
31/12/2015
160100 PATENTS 1,055,719.07 1,055,719.01 0.06
160102 TRADEMARKS 4,604,963.25 1,551,123.99 3,053,839.26
160103 KNOW HOW 150,708.33 120,566.68 30,141.65
161700 SOFTWARE PROGRAMMES 3,698,266.54 3,080,597.28 617,669.26
161900 CAPITALISED EXPENSES 14,600.00 14,599.99 0.01
Total 9,524,257.19 5,822,606.95 3,701,650.24
The above items are detailed in the electronic "Records of Tangible and Intangible Assets" of the
Company and in the Inventory as at 31.12.2015.
24 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
11.1.3 Investment Property
Investment property
Part of
Contributed
Sector on
31/12/2015
Balance of Remaining
Sector on
31/12/2015
Pre-contribution
Total on
31/12/2015
Investments in lots 204,902.00 335,324.08 540,226.08
Investment property concerns mainly lots and parcels. The value of the lots and parcels to be contributed
is as follows:
Fixed asset Code Fixed asset description Acquisition cost on
31.12.2015
10200001 AVLONAS PARCEL 8705 m2 65,289.00
10200002 PLOT IN PSAHNA, HALKIDA 7900 m2 98,750.00
10200003 PLOT IN DESFINA, FOKIDA 14593 m2 40,863.00
Total 204,902.00
The specific items of the above lots-parcels are as follows:
Fixed
asset
Code Prefecture Municipality
Municipal
District Street-Location
Conveyance
deed No. Sq. m.
10200001 ATTICA OROPOS OROPOS AGIOS ATHANASSIOS 8744 8,705
10200002 EVIA MESSAPIA PSAHNA Provincial Highway POLIT-HALKIDA 22897 7,900
10200003 FOKIDA DESFINA DESFINA AGIOS VLASIOS 8744 13,208
FOKIDA DESFINA DESFINA AGIOS VLASIOS 8744 1,386
The above items are detailed in the electronic "Records of Tangible and Intangible Assets" of the
Company and in the Inventory as at 31.12.2015.
The current value of the Company's Lots/Parcels was specified by the independent property valuation
company "GLP Values S.A." (GLP).
In its relevant report, GLP specified the value of the lots/parcels on 31 December 2015 as follows.
Fixed asset
Code Fixed asset description
Fair value
31/12/2015
10200001 AVLONAS PARCEL 8705 m2 64,418.00
10200002 PLOT IN PSAHNA, HALKIDA 7900 m2 97,170.00
10200003 PLOT IN DESFINA, FOKIDA 14593 m2 39,404.00
Total 200,992.00
On 31.12.2015, the book value of the Company's Investment Property to be assessed amounts to
€204,902.
For the purposes of this "Contributed Sector Market Value Report", the adjusted value of the Investment
Property is reduced by €3,910.00 and stands at €200,992.00.
The valuation of the independent valuer was based on the method of comparable evidence in accordance
with RICS standards (Valuation Standards Global & UK – January 2014 Edition).
25 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
11.1.4 Holdings in subsidiaries and associate companies
Holdings in: Holding
percentage
Part of
Contributed
Sector on
31.12.2015
Balance of
Remaining
Sector on
31.12.2015
Pre-
contribution
Total on
31.12.2015
Subsidiaries
FULGOR S.A. 100% 55,946,000.00 - 55,946,000.00
LESCO E.O.O.D-BULGARIA 100% 319,450.85 - 319,450.85
INTERNATIONAL INVESTMENTS S.A. 99.99% - 117,385.18 117,385.18
ICME ECAB S.A 98.59% - 16,385,718.73 16,385,718.73
DE LAIRE LIMITED 100% - 25,796.14 25,796.14
LESCO ROMANIA 65% - 10,157.18 10,157.18
SYMM.EP. S.A. 100% - 60,000.00 60,000.00
PROVISIONS FOR DEVALUATION - -117,385.18 -117,385.18
Total (A) 56,265,450.85 16,481,672.05 72,747,122.90
Associate companies
STEELMET SA 29.56% - 140,879.71 140,879.71
METAL AGENCIES 20% - 740,337.36 740,337.36
PROVISIONS FOR DEVALUATION - -398,632.00 -398,632.00
Total (B) - 482,585.07 482,585.07
Total (A)+(B) 56,265,450.85 16,964,257.12 73,229,707.97
These are holdings in domestic and international subsidiaries and associate companies, as detailed in the
above table.
The above holdings are broken down in the Company's electronic "Records of Investments in Debt
Securities" and in the Inventory as at 31.12.2015.
The holdings that will be part of the contributed industrial sector and part of the commercial sector consist
in 100% holdings in FULGOR S.A. and LESCO E.O.O.D. Valuation was carried out as follows in order
to specify the current market value of the contributed subsidiaries:
Valuation of FULGOR
To specify the current market value of the holding in FULGOR S.A., valuation was carried out by the
independent valuer "RSM Greece S.A." which specified the current market value of FULGOR at
€86,747,653.96 in its Report dated 25 April 2016.
To specify the current market value of FULGOR, various valuation methods were implemented such as
the Discounted Cash Flow (DCF) method, the method of Market Multiples of Comparable Companies
and the method of Adjusted Net Assets Value.
By weighing the valuation results according to the suitability of each method and specifically by focusing
more on the DCF method (40%) and less on the method of Market Multiples of Comparable Companies
(30%) and the method of Adjusted Net Assets Value (30%), the following indicative range of values
arose with respect to FULGOR:
Weighted values of FULGOR
Minimum value Mean value Maximum value
79,283,301.30 86,747,653.96 94,925,079.25
26 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
Based on the Mean Value of the weighted values, goodwill of €30,801,653.96 arose in relation to its book
value which, on 31.12.2015, amounted to €55,946,000.
Valuation of LESCO
To specify the current market value of the holding in LESCO E.O.O.D., given its size, the independent
valuer "RSM Greece S.A., in its Report dated 25 April 2016 " considered that the method of the Adjusted
Net Assets Value is a suitable approach to determine its value on the valuation date.
Based on the above approach, on 31.12.2015 the Adjusted Net Assets Value of LESCO amounted to
€2,582,576 and, therefore, goodwill of €2,263,125.15 arose in relation to the book value of €319,450.85
which is shown in the contributor's accounting books on 31.12.2015.
11.1.5 Other long-term receivables
Other long-term receivables
Part of Contributed
Sector on
31/12/2015
Balance of Remaining
Sector on
31/12/2015
Pre-contribution
Total on
31/12/2015
Guarantees provided 196,734.72 - 196,734.72
Properties on third-party lots 298,003.63 - 298,003.63
Other long-term receivables in Euro 262,671.34 75,258.00 337,929.34
Total 757,409.69 75,258.00 832,667.69
The guarantees provided concern guarantees provided to Water Supply & Sewerage Systems Co. of
Athens and Public Power Corporation for the water supply and electricity provided to the Company's
plants, as well as guarantees to car rental and credit insurance companies.
The account "Properties on third-party lots" concerns a rental fee advance paid to the owner of the
facilities leased by the Company at Amarousiou-Halandriou Street, Marousi, to accommodate its offices,
and is gradually offset throughout the property's leasing term against the monthly rental fee the Company
should pay in accordance with the relevant agreement.
The other long-term receivables in Euro mainly concern a receivable from DIA.VI.PE.THI.V. S.A.,
which amounts to €238,885.51 and was provided in the context of implementation of the street plan of
Thisvi's industrial zone by virtue of Decision No. 13582/1556/7-3-08 of the Secretary-General of Central
Greece Region.
The above items are broken down in the Company's electronic "Records of Other Assets" and in the
Inventory as at 31.12.2015.
27 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
11.1.6 Inventories
Inventories
Part of
Contributed
Sector on
31.12.2015
Balance of
Remaining
Sector on
31/12/2015
Pre-contribution
Total on
31.12.2015
Goods 827,136.22 1,161,683.29 1,988,819.51
Finished and semi-finished products, by-products and scrap 23,581,461.07 0.00 23,581,461.07
Raw direct and indirect material - Consumables - Spare parts
& containers 18,583,696.85 0.00 18,583,696.85
Provisions for inventory devaluation (1,530,021.74) (29,780.26) (1,559,802.00)
Down payments for stocks 12,172,188.99 0.00 12,172,188.99
Total 53,634,461.39 1,131,903.03 54,766,364.42
Almost all inventories concern the contributed industrial sector and part of the commercial sector and are
transferred to the Acquirer. Specifically, inventories concern goods, finished and semi-finished products,
raw materials and containers which were measured at their net realisable value which is the expected
selling price thereof less direct selling costs. The item "Down payments for stocks" mainly concerns
down payments provided by the Contributor to its subsidiary FULGOR (€11,366,781.14) for the purchase
of stocks.
The above items are broken down in the Company's electronic "Records of Own Inventories" and in the
Inventory as at 31.12.2015.
11.1.7 Trade and Other Receivables
Trade and Other Receivables
Part of
Contributed
Sector on
31.12.2015
Balance of
Remaining Sector
on 31.12.2015
Pre-contribution
Total on 31.12.2015
Trade receivables 66,144,114.18 1,586,777.86 67,730,892.04
Sundry debtors 10,014,409.42 4,043,293.41 14,057,702.83
Transit Debit Balances 11,096,241.19 0.00 11,096,241.19
Total 87,254,764.79 5,630,071.27 92,884,836.06
Trade receivables mainly concern customers of the contributed sector. Note also that the Company has
entered into accounts receivable assignment agreements with financial institutions with or without right of
recourse. Whenever accounts receivable have been assigned to banks without right of recourse, the
assigned receivables have been deducted from trade receivables accordingly. Company's receivables have
been measured at their realisable value.
The receivables that will be part of the contributed assets are broken down below.
Trade receivables
Part of
Contributed
Sector on
31.12.2015
Balance of
Remaining
Sector on
31.12.2015
Pre-contribution
Total on
31.12.2015
Cheques receivable 80,317.40 - 80,317.40
Domestic customers 5,946,996.28 1,586,777.86 7,533,774.14
Auction customers 47,342,160.34 - 47,342,160.34
International customers 12,774,640.16 - 12,774,640.16
Total 66,144,114.18 1,586,777.86 67,730,892.04
28 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
Sundry debtors
Part of
Contributed
Sector on
31.12.2015
Balance of
Remaining
Sector on
31.12.2015
Pre-contribution
Total on
31.12.2015
Advances to personnel 55,199.72 - 55,199.72
Personnel relief account 100.00 - 100.00
Personnel loans 89,553.22 - 89,553.22
Short-term receivables from affiliates 9,562,982.14 1,129,707.55 10,692,689.69
Greek State-prepaid and withheld taxes - 1,835,412.38 1,835,412.38
Greek State - other receivables - 962,040.70 962,040.70
Receivables from taxes 103,814.76 - 103,814.76
Other miscellaneous debtors 28,339.81 - 28,339.81
Disputed claims against Greek State - 48,312.34 48,312.34 Blocked import compensating deposits and
import duties 29,528.92 - 29,528.92
Customs brokers current accounts - 153,185.87 153,185.87
Staff current accounts 73,059.52 660.00 73,719.52
Other associates - third parties 71,831.33 - 71,831.33
Other extraordinary provisions - -86,025.43 -86,025.43
Total 10,014,409.42 4,043,293.41 14,057,702.83
Sundry debtors mainly concern down payments, loans and current accounts.
The contributed receivables from affiliates amount to €9,562,982.14 and concern:
Receivables from affiliates
METAL AGENCIES LTD 5,186,020.39
FULGOR S.A. 2,423,172.78
SC ICME ECAB S.A. 1,524,022.62
ELVAL HELLENIC ALUMINIUM INDUSTRY S.A. 102,444.85
SIDERAL s.h.p.k. 102,428.37
ICME ECAB S.A 92,551.64
GENECOS S.A. 87,717.05
ANAMET S.A. 30,714.45
PR.A.K.SY.S. S.A. 5,289.27
ETEM BULGARIA SA 4,036.50
DIA.VI.PE.THI.V. S.A. 2,685.26
VIOHALCO S.A 1,286.51
ERGOSTEEL S.A. 399.75
SIDEROM STEEL S.R. 205.00
INTERNATIONAL INVESTMENTS S.A. 23.67
SIDMA S.A. 0.02
METAL GLOBE DOO 0.00
PROSAL S.A. (15.99)
Total 9,562,982.14
Transit Debit Balances
Part of Contributed Sector
on
31/12/2015
Prepaid expenses 599,643.86
Accrued income receivables 3,305,308.48
Properties on third-party lots 67,316.02
Purchases in transit 7,123,972.83
Total 11,096,241.19
29 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
All the above "Trade and Other Receivables" are broken down in the Company's electronic "Records of
Other Assets" and in the Inventory as at 31.12.2015.
11.1.8 Derivatives
Derivatives Part of Contributed
Sector on
31/12/2015
Balance of
Remaining Sector on
31/12/2015
Pre-contribution
Total on
31/12/2015
Hedging Financial Instruments 73,000.00 - 73,000.00
These are foreign exchange swaps. These swaps were measured at their fair value.
The above items are broken down in the Company's electronic "Records of Other Assets" and in the
Inventory as at 31.12.2015.
11.1.9 Cash and Cash Equivalents
Cash Part of Contributed
Sector on
31/12/2015
Balance of Remaining
Sector on
31/12/2015
Pre-contribution
Total on 31.12.2015
Cash on hand 16,984.83 62.12 17,046.95
Sight deposits in Euro 13,601,219.77 42,787.76 13,644,007.53
Sight deposits in foreign currency. 2,396,468.36 - 2,396,468.36
Total 16,014,672.96 42,849.88 16,057,522.84
The deposits which are held at credit institutions and are part of the contributed sector are broken down as
follows:
Sight deposits in Euro
General ledger accounts Bank Account No. Balance on
31.12.2015
38.03.01.00.00 NBG 471126-20 916,371.11
38.03.01.01.03 NBG 5497958039 4.90
38.03.01.00.99 NBG CHEQUE DEPOSIT ACCOUNTS (3.00)
38.03.05.00.00 ALPHA BANK 101002002016621 504,033.89
38.03.05.00.05 ALPHA BANK 802-002002-005548 206.81
38.03.05.00.07 ALPHA BANK 101 00 2002 287780 8,159,170.58
38.03.05.00.09 ALPHA BANK 101-00-2002-017149 4,955.24
38.03.17.00.00 PIRAEUS 5941-008049-065 242,289.52
38.03.22.00.00 EUROBANK 0026-0025-41-0200439142 923,710.97
38.03.46.00.00 HSBC 002/059467/145 3,834.51
38.03.46.00.02 HSBC 1918416001 2,846,645.24
Total 13,601,219.77
30 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
Sight deposits in foreign currency
General ledger accounts Bank Account No. Balance on
31.12.2015
38.05.01.00.01 NBG 040/300098-25 (USD) 1,727.84
38.05.01.00.12 NBG 300139-34 (GBP) 3,114.78
38.05.05.00.10 ALPHA BANK 5001-000363 (GBP) 3,418.92
38.05.05.00.11 ALPHA BANK 5001-004111 (USD) 247.95
38.05.17.00.04 PIRAEUS 6901-130963-594 (USD) 5.70
38.05.22.00.01 EUROBANK 0025.49.1200136611 (USD) 50.48
38.05.22.00.02 EUROBANK 002-60025471200152916 (GBP) 885,618.91
38.05.22.00.04 EUROBANK 0025.49.1200136611 (USD) 0.01
38.05.22.00.05 EUROBANK 00260025411200177106 (CAD) 141.98
38.05.40.00.09 BNP 201-108210246 (USD) 3.15
38.05.46.00.00 HSBC 002059467036 (GBP) 10,130.13
38.05.46.00.02 HSBC 491 8416 027 (GBP) 860,179.56
38.05.46.00.03 HSBC 491 8416 019 (USD) 631,799.08
38.05.64.00.09 HYPO VEREINSBANK 072-114456-USD-2811-01 29.87
Total 2,396,468.36
The above Cash is broken down in the Company's electronic "Records of Other Assets" and in the
Inventory as at 31.12.2015.
31 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
11.2 Liabilities
11.2.1 Non-current Loans
These are corporate bonds and long-term loans granted by the banks below:
Long-term loans
Part of
Contributed
Sector on
31.12.2015
Balance of
Remaining
Sector on
31.12.2015
Pre-
contribution
Total on
31.12.2015
Account Description
45.00.01.00.08 NBG - ORDINARY CORPORATE BOND (ARRANGER:
ALPHA)- (Account No. 989-00-3015-928604) 36,750,000.00 - 36,750,000.00
45.00.05.00.11 ALPHA BANK - ORDINARY CORPORATE BOND
(ARRANGER) (Account No. 989-00-3015-928604) 23,000,000.00 - 23,000,000.00
45.00.17.00.02 PIRAEUS - ORDINARY CORPORATE BOND (ARRANGER: ALPHA)-(Account No. 989-00-3015-928604)
8,989,000.00 - 8,989,000.00
45.00.22.00.04 EUROBANK - ORDINARY CORPORATE BOND
(ARRANGER: ALPHA)-(Account No. 989-00-3015-928604) 7,800,000.00 - 7,800,000.00
Total Ordinary Corporate Bond (A) 76,539,000.00 - 76,539,000.00
45.00.05.00.09 CREDIT - BOND (Account No. 989-001801447200) 533,012.00 - 533,012.00
45.00.05.00.12 ALPHA BANK (Account No. 989-00-3029-904700) 3,499,000.00 - 3,499,000.00
45.00.05.00.13 ALPHA BANK CORPORATE BOND (Account No. 989-00-
3044-524502 4,263,123.00 4,263,123.00
45.00.05.01.01 LONDON (BRIEFING THROUGH ALPHA) 1,000.00 - 1,000.00
45.00.05.01.02 LONDON (BRIEFING THROUGH ALPHA) 1,000.00 - 1,000.00
Total Other Corporate Bonds (B) 8,297,135.00 - 8,297,135.00
Total (A)+(B) 84,836,135.00 - 84,836,135.00
Long-term loans payable in the next fiscal year
45.00.00.00.99 CORPORATE BONDS PAYABLE IN THE NEXT FISCAL
YEAR (8,186,912.00) - (8,186,912.00)
36.00.65 PREPAID INTEREST CHARGES AND RELATED EXPENSES (420,962.68) - (420,962.68)
Total long-term loans 76,228,260.32 - 76,228,260.32
Loans have been taken out to support the Company's industrial business and will be fully transferred to
the Acquirer.
Balances of loans were measured at their fair value.
The specific characteristics of the Company's corporate bonds (A) and (B), as presented above, are
summed up in the table below:
Bank Type of loan Nominal value on
31.12.2015
Interest rate on
31/12/2015 Maturity
ALPHA, NATIONAL BANK, PIRAEUS, EUROBANK
Ordinary corporate bond 76,539,000.00 4.96% 27/12/2018
ALPHA Corporate bond 4,263,123.00 5.70% 31/12/2020
ALPHA LONDON Corporate bond 1,000.00 5.70% 31/12/2020
ALPHA Corporate bond 533,012.00 6.50% 09/05/2016
ALPHA Corporate bond 3,499,000.00 5.55% 10/01/2020
ALPHA LONDON Corporate bond 1,000.00 5.55% 10/01/2020
Total 84,836,135.00
Note that mortgage prenotation (series/class A) amounting to €91,846,800 has been raised to secure the
receivables of the Ordinary Corporate Bond of €76,539,000, which is payable to ALPHA BANK
(representative of bondholders) by virtue of ruling No. 830Σ/2014 of the Athens Court of the Peace.
Such mortgage prenotation concerns all properties contributed to the Acquirer together with the relevant
buildings and all components, appurtenances and fixtures. In addition to mortgage prenotation, security
for the Ordinary Corporate Bond includes a pledge raised on the contributed inventories with a value of at
32 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
least €21,489,000 so that the commercial value of Properties and inventories should cover 100% of the
amount of the Loan. In addition, the ordinary corporate bond agreement provides for satisfactory capital
adequacy, profitability and liquidity as such are defined by specific financial ratios.
The above items are broken down in the Company's electronic "Records of Liability Accounts" and in the
Inventory as at 31.12.2015.
11.2.2 Deferred Tax Liabilities
Deferred Tax Liabilities
Part of
Contributed
Sector on
31.12.2015
Balance of
Remaining Sector
on 31.12.2015
Pre-contribution
Total on
31.12.2015
Deferred Tax Liabilities 2,790,158.09 - 2,790,158.09
The Company's deferred tax liabilities were determined based on the tax rate applicable on 31.12.2015
(namely 29%).
In detail, the Company's deferred tax liabilities on 31.12.2015 are broken down below:
Breakdown of Deferred Tax on 31-12-2015 Difference between Tax
and Accounting Base
Deferred tax
assets/(Liabilities)
Description
Intangible assets 139,616.03 40,489
Tax loss 13,512,554.69 3,918,641
Thin capitalisation interest 10,224,891.24 2,965,218
Provisions 3,092,080.55 896,703
Derivatives 243,524.00 70,622
Other 200,949.48 58,275
Deferred tax assets (A) 27,413,616.00 7,949,948.64
Tangible assets value adjustment (37,034,850.79) (10,740,107)
Deferred tax liabilities (B) (37,034,850.79) (10,740,106.73)
GRAND TOTAL (A)+(B) (9,621,234.79) (2,790,158.09)
The above items are broken down in the Company's electronic "Records of Liability Accounts" and in the
Inventory as at 31.12.2015.
A deferred tax liability of €585,856.11 was calculated with respect to the adjusted values of fixed assets,
as such were specified by the independent valuers, and reduced the accumulated Deferred Tax Liability
on 31.12.2015 by this amount.
11.2.3 Post-employment liabilities
Post-employment benefits Part of Contributed
Sector on 31.12.2015
Balance of
Remaining Sector
on 31.12.2015
Pre-contribution
Total on
31.12.2015
Provision for staff compensation 1,243,869.00 58,811.00 1,302,680.00
This is the present value of the accrued liability for the compensation to which personnel are entitled
when they retire on 31.12.2015. The present value of the liability was measured based on an actuarial
study prepared on the basis of the projected unit credit method.
33 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
On 31.12.2015 the Company's human resources per category and department are broken down as follows:
Employees Labourers Total
Plant (Thiva) 40 214 254
Plant (Livadia) 6 44 50
Plant (Oinofyta) 8 30 38
Outlet (Piraeus St.) 4 10 14
Outlet (Thessalonica) 7 4 11
Administration establishment (Maroussi) 48 0 48
Total workforce 113 302 415
The Company's total workforce will be transferred to the Acquirer with the exception of four
administration employees.
The above items are broken down in the Company's electronic "Records of Liability Accounts" and in the
Inventory as at 31.12.2015.
11.2.4 Grants
Grants
Part of
Contributed
Sector on
31/12/2015
Balance of
Remaining Sector on
31/12/2015
Pre-contribution
Total on 31.12.2015
Grants 5,325,867.59 - 5,325,867.59
These are grants based on incentive laws which the Company received to develop and enhance its
industrial premises in Thiva, Livadia and Oinofyta. These grants are amortised and posted in year income
according to the duration of the amortisation period of the fixed assets subsidised.
All grants concern the contributed industrial sector and are contributed to the Acquirer.
The grants that will be part of the transferred liabilities are broken down as follows:
Account Description Balance on 31.12.2015
45.41.10.00.00 GRANTS (Law 2601) 236,455.62
45.41.10.00.01 GRANTS (Law 3299/2004) 808,061.63
45.41.10.00.02 GRANTS (Law 3299/2004) 109,153.90
45.41.10.00.03 GRANTS (Law 3299/2004) 4,172,196.44
Total 5,325,867.59
The above items are broken down in the Company's electronic "Records of Liability Accounts" and in the
Inventory as at 31.12.2015.
11.2.5 Provisions
Provisions Part of Contributed
Sector on 31.12.2015
Balance of
Remaining Sector
on 31.12.2015
Pre-contribution
Total on 31.12.2015
Provision for unaudited fiscal years - 200,000.00 200,000.00
This is the provision raised by the Company for the unaudited fiscal years 2009 and 2010.
The above items are broken down in the Company's electronic "Records of Liability Accounts" and in the
Inventory as at 31.12.2015.
34 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
11.2.6 Short-term loans
These are short-term loans granted by the banks below:
Short-term loans
Part of
Contributed
Sector on
31.12.2015
Balance of
Remaining
Sector on
31.12.2015
Pre-contribution
Total on
31.12.2015
Account Description
52.01.00.00.01 NBG - (Account No. 040/225644-49) 340,675.84 - 340,675.84
52.01.05.00.13 NBG - (Account No. 974/395486-25) 8,890,346.67 - 8,890,346.67
52.05.00.00.07 ALPHA BANK - (Account No. 989-00-3014-141009) 18,744,039.15 - 18,744,039.15
52.05.05.00.26 ALPHA BANK - (Account No. 0012-0101-60-
3029744620) 881,271.00 - 881,271.00
52.17.05.00.01 PIRAEUS BANK (CYPRUS) (Account No. 402/2941) 2,996,000.00 - 2,996,000.00
52.17.05.00.02 PIRAEUS BANK - (Account No. 402/2941) 1,300,000.00 - 1,300,000.00
52.22.05.00.14 EUROBANK - (Account No. 0026-0025-0300101143) 2,200,000.00 - 2,200,000.00
52.22.05.00.15 EUROBANK - (Account No. 0026-0025-0300101143) 3,000,000.00 - 3,000,000.00
52.22.05.00.16 EUROBANK - (Account No. 0026-0025-0300101143) 2,000,000.00 - 2,000,000.00
40,352,332.66 - 40,352,332.66
53.17.00.00.00 CORPORATE BONDS PAYABLE IN THE NEXT
FISCAL YEAR 8,186,912.00 - 8,186,912.00
56.01.65 INTEREST CHARGES - RELATED EXPENSES PAYABLE
198,952.00 - 198,952.00
30.80 FACTORED CUSTOMERS 10,602,294.69 - 10,602,294.69
Total short-term loans 59,340,491.35 - 59,340,491.35
Short-term loan liabilities will be fully transferred to the Acquirer since such loans have been obtained as
working capital to finance manufacturing activities.
The specific characteristics of the Company's short-term loans are summed up in the table below:
Bank Type of loan Nominal value Interest rate
Maturity 31/12/2015 31/12/2015
National Bank of Greece
Financing 340,675.84 5.60% 31/03/2016
National Bank
of Greece Financing 8,890,346.67 5.60% 31/03/2016
ALPHA Financing 18,744,039.15 6.30% 31/03/2016
ALPHA Interbank 881,271.00 6.30% 24/06/2016
PIRAEUS Interbank 2,996,000.00 6.10% 30/06/2016
PIRAEUS Interbank 1,300,000.00 6.10% 15/01/2016
EUROBANK Interbank 2,200,000.00 6.10% 31/03/2016
EUROBANK Interbank 3,000,000.00 6.10% 22/01/2016
EUROBANK Interbank 2,000,000.00 6.10% 31/03/2016
Total 40,352,332.66
The account "Factored Customers" concerns advance payments from Banks for assigned accounts
receivable of customers. Accounts receivable have been assigned with a right of recourse from Banks
and, therefore, are included in the Company's trade receivables. The above balance concerns in its entirety
35 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
customers of the contributed industrial sector and part of the commercial sector and is transferred to the
Acquirer.
The above items are broken down in the Company's electronic "Records of Liability Accounts" and in the
Inventory as at 31.12.2015.
11.2.7 Trade and other payables
Trade & Other Payables
Part of
Contributed Sector
on 31.12.2015
Balance of
Remaining Sector
on 31.12.2015
Pre-
contribution
Total on
31.12.2015
Suppliers 54,950,152.63 2,160,737.05 57,110,889.68
Notes payable 20,331,937.09 - 20,331,937.09
Purchases in transit 357,388.75 - 357,388.75
Insurance and pension fund dues - 646,886.24 646,886.24
Period expenses payable 1,824,611.44 - 1,824,611.44
Advance payments from customers 5,378,427.11 - 5,378,427.11
Other creditors 1,427,335.18 816.18 1,428,151.36
Total 84,269,852.20 2,808,439.47 87,078,291.67
These are short-term liabilities of the Company to suppliers, social security institutes, advances from
customers and other creditors.
The above items are broken down in the Company's electronic "Records of Liability Accounts" and in the
Inventory as at 31.12.2015.
11.2.8 Taxes
Taxes
Part of
Contributed Sector
on 31.12.2015
Balance of
Remaining Sector on
31.12.2015
Pre-contribution
Total on
31.12.2015
Value added tax (VAT) - 37,583.67 37,583.67
Taxes-duties on personnel remuneration - 323,509.97 323,509.97
Taxes-duties on third party fees - 13,542.74 13,542.74
Other taxes – duties - 672,401.91 672,401.91
Newspaper advertising stamps - 0.20 0.20
Interim account for withheld taxes - 259.45 259.45
Total - 1,047,297.94 1,047,297.94
These are short-term liabilities of the Company arising from taxes and duties. Total tax liabilities concern
the Contributor.
The above items are broken down in the Company's electronic "Records of Liability Accounts" and in the
Inventory as at 31.12.2015.
In addition, based on the relevant provisions of Article 52(6) of Law 4172/2013, the Acquirer may
transfer the Contributor's losses related to the operating segment that is transferred under the same
conditions that would have applied to the Contributor if the transfer had not taken place.
36 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
The Contributor's tax losses per year which are related to the contributed industrial sector and part of the
commercial sector are broken down as follows:
Fiscal year Amount
2012 8,776,266
2013 12,119,709
2014 2,834,626
2015 1,321,829
Total 25,052,430
11.2.9 Derivatives
Derivatives
Part of
Contributed
Sector on
31.12.2015
Balance of
Remaining Sector on
31.12.2015
Pre-contribution
Total on 31.12.2015
Hedging Financial Instruments 316,524.00 - 316,524.00
These are financial instruments used by the Company to hedge the risk arising from fluctuations of the
prices of copper and other metals used in manufacturing its products. These contracts were measured at
their fair value.
The above items are broken down in the Company's electronic "Records of Liability Accounts" and in the
Inventory as at 31.12.2015.
11.2.10 Contingent liabilities
BANK CURRENCY
PARTICIPATION
IN TENDER
PERFORMANCE
BOND
PAYMENT OR
ADVANCE
SECURITY OF
LIABILITIES
ALPHA EUR 2,360,600.00 15,280,484.77 8,717,185.21 3,135,524.23
USD - 43,825.00 - -
NBG EUR 114,545.21 1,654,712.79 - -
USD 560,537.00 131,278.00 - -
EUROBANK EUR 6,800.00 991,668.30 - -
EMPORIKI EUR - 738,433.66 1,500,000.00 -
PIRAEUS EUR 78,000.00 4,274,957.19 810,602.57 -
Grand Total EUR 2,559,945.21 22,940,256.71 11,027,787.78 3,135,524.23
USD 560,537.00 175,103.00 0.00 0.00
The above table sums up the letters of guarantee issued by the Contributor to carry out its domestic and
international transactions which will be fully contributed to the Acquirer.
A breakdown of the letters of guarantee issued by the Company is laid down in Annex ΙV.
37 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
11.3 Equity
11.3.1 Share capital
Share Capital
Part of
Contributed Sector
on 31.12.2015
Balance of
Remaining Sector
on 31.12.2015
Pre-contribution
Total on
31.12.2015
Paid-up share capital - 20,977,915.60 20,977,915.60
The Company's share capital amounts to €20,977,915.60, is fully paid up and is divided in 29,546,360
ordinary registered shares with a nominal value of €0.71 each. Shares are listed and traded on the primary
securities market of the Athens Stock Exchange, in the Large Capitalisation category. Company shares
are dematerialised and registered with voting rights.
The Contributor shall keep the entire share capital.
The above items are broken down in the Company's electronic "Records of Equity Accounts" and in the
Inventory as at 31.12.2015.
11.3.2 Share premium account
Share premium account
Part of
Contributed
Sector on
31.12.2015
Balance of
Remaining Sector on
31.12.2015
Pre-contribution
Total on 31.12.2015
Share premium account - 31,171,712.12 31,171,712.12
Share premium account is the difference that arose from the issue of shares in exchange for cash at a
value above par. The Contributor shall keep share premium in its entirety.
The above items are broken down in the Company's electronic "Records of Equity Accounts" and in the
Inventory as at 31.12.2015.
11.3.3 Other Reserves
The Company's reserves are broken down as follows:
Other Reserves
Part of
Contributed Sector
on
31/12/2015
Balance of
Remaining Sector on
31/12/2015
Pre-contribution
Total on 31.12.2015
Statutory Reserve - 3,471,903.13 3,471,903.13
Reserve from derivatives valuation (224,732.04) - (224,732.04)
Special reserves 8,295,404.40 - 8,295,404.40
Tax-free reserves 14,088,740.16 - 14,088,740.16
Reserve from fixed assets measurement at fair value
13,734,418.78 - 13,734,418.78
Total 35,893,831.30 3,471,903.13 39,365,734.43
Special tax-free reserves have been raised based on special provisions of incentive laws as a tax incentive
to generate production-related investments. Such reserves concern the contributed industrial sector and
are transferred to the Acquirer.
38 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
In detail:
Special reserves
41.05.00.00.02
EXTRAORDINARY TAX RESERVES FOR THE PURPOSES OF THE
COMPETITIVENESS OPERATIONAL PROGRAMME UNDER LAW 2601/98 690,000.00
41.05.00.00.03
EXTRAORDINARY TAX RESERVES PURSUANT TO DECISION No. 31629 UNDER
LAW 3299/2004 1,518,131.50
41.05.00.00.11 EXTRAORDINARY TAX RESERVES PURSUANT TO DECISION No. 12909 UNDER LAW 3299/2004 4,737,915.50
41.05.00.70.00 EXTRAORDINARY TAXED RESERVES 3,049.16
41.06.00.20.11 GOODWILL OF Τ/Κ FROM RESERVES 1828 & ADJUSTMENT UNDER LAW 2065 1,346,308.24
Total 8,295,404.40
Tax-free reserves have been raised based on provisions of incentive laws. Specifically:
Tax-free reserves
41.08.00.00.00 Law 942/49 (Article 18) (Contribution from Viohalco - Establishment 1973) 49,743.12
41.08.00.02.00 Law 4002/59 (Article 1) (Contribution from Viohalco - Establishment 1973) 73,393.51
41.08.00.03.00 Law 4002/59 (Article 2) (Contribution from Viohalco - Establishment 1973) 42,139.86
41.08.00.06.10 TAX-FREE INCOME RESERVES SPECIALLY TAXED 75,230.34
41.08.00.12.00 Circular No. 2665/88 (VIOTIA CABLES S.A.) 28,677.13
41.08.00.12.95 Law 1892/90 (Article 12) 334,434.34
41.08.00.12.96 Law 1892/90 (Article 12) 396,038.15
41.08.00.12.98 Law 1892/90 (Article 12) TELECABLES S.A. 2,556,921.34
41.08.00.13.01 Law 1892/90 (Article 20) 97,153.80
41.08.00.14.89 Law 1262/82 144,229.05
41.08.00.14.90 Law 1892/90 (Article 12) 105,412.81
41.08.00.15.02 Law 2601/98 (FY 2002) 505,000.00
41.08.00.15.03 Law 2601/98 (FY 2003) (TELECABLES) 1,757,671.08
41.08.00.15.06 Law 2601/98 (FY 2006) 2,850,000.00
41.08.00.15.07 Law 2601/98 (FY 2007) 1,900,000.00
41.08.00.15.08 Law 2601/98 (FY 2008) 1,900,000.00
41.08.00.15.99 Law 2601/98 (FY 1999) 628,026.41
41.08.00.71.00 Law 1262/1985 (VIOTIA CABLES S.A.) 39,292.74
41.08.00.73.00 Law 1828/89 (article 22) VIOTIA CABLES 177,782.74
41.08.00.83.91 Law 1828/89 (article 22) MONEL S.A. 164,887.77
41.91.03.19.00 Interest on Repos taxed at 15% (TELECABLES) 262,705.97
Total 14,088,740.16
The reserve from fixed assets measurement at fair value concerns the profit that was generated from the
measurement of lots, buildings and machinery at fair value. Specifically:
Reserve from fixed assets measurement at fair value Fair value
APARTMENT BLOCKS 28,022.34
BUILDINGS IN THIVA 3,119,130.01
BUILDINGS IN OINOFYTA 850,575.63
BUILDINGS IN LIVADIA 1,448,084.60
MACHINERY IN THIVA 7,105,457.60
MACHINERY IN LIVADIA 636,564.90
MACHINERY IN OINOFYTA 546,583.70
Total 13,734,418.78
Reserves mainly concern the contributed sector and are transferred to the Acquirer.
39 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
The above items are broken down in the Company's electronic "Records of Equity Accounts" and in the
Inventory as at 31.12.2015.
Part of the goodwill of €2,020,193.49 that arose from the valuation of properties and machinery on
31.12.2015, following calculation of the proportionate deferred tax, will reduce/ increase the reserve
already raised for this reason. Specifically, the increase/decrease of the above reserve will be allocated
between the already raised reserve and Accumulated Losses as follows:
Reserve from fixed assets measurement at fair value Fair value
(A)
Increase /
(Decrease) in
Reserve (B)
Deferred tax
(C)
Total
(A) + (B) + (C)
APARTMENT BLOCKS 28,022.34 -16,529.18 4,793.46 16,286.62
BUILDINGS IN THIVA 3,119,130.01 372,446.62 -108,009.52 3,383,567.11
BUILDINGS IN OINOFYTA 850,575.63 73,974.33 -21,452.56 903,097.40
BUILDINGS IN LIVADIA 1,448,084.60 93,840.95 -27,213.88 1,514,711.67
MACHINERY IN THIVA 7,105,457.60 -1,558,036.83 451,830.68 5,999,251.45
MACHINERY IN LIVADIA 636,564.90 -79,197.20 22,967.19 580,334.89
MACHINERY IN OINOFYTA 546,583.70 -158,135.39 45,859.26 434,307.57
Total 13,734,418.78 -1,271,636.70 368,774.64 12,831,556.72
Accumulated losses -748,556.79 217,081.47 -531,475.32
Total impairment from the report of the Valuer "AXIES S.A. & GLP
Values S.A. -2,020,193.49 585,856.11
11.3.4 Profit carried forward
Profits/(Losses) carried
forward
Part of Contributed Sector on
31/12/2015
Balance of Remaining Sector on
31/12/2015
Pre-contribution Total on
31/12/2015
Profits/(Losses) carried
forward (7,724,012.14) - (7,724,012.14)
The above items are broken down in the Company's electronic "Records of Equity Accounts" and in the
Inventory as at 31.12.2015.
40 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
12 Conclusion
Upon the review of the accounting books of "HELLENIC CABLES S.A." and having regard to all points
laid down in the preceding paragraphs, the following conclusions are deduced:
a) The Statement of Financial Position of the contributed sector is established based on the
accounting books kept by the Company and reflects the value of its assets and liabilities on 31
December 2015.
b) The value of the contributed sector, which arises from the Statement of Financial Position as at
31 December 2015, is positive and amounts to €92,379,696.79 and, thus, it will raise the share
capital of the Acquirer "SYMM.EP. Α.Ε. HOLDINGS AND INVESTMENTS S.A." in
accordance with the relevant provisions of Law 4172/2013.
Following recapitulation of the points set out in separate paragraphs of this report, it results that the assets
of the contributed sector which are presented in the Statement of Financial Position dated 31 December
2015 are as follows:
41 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
Statement of Financial Position on 31.12.2015 Part of
contributed
sector on
Balance of
Remaining Sector
on
Pre-
contribution
total
31/12/2015 31/12/2015 31/12/2015
ASSETS
Non-current assets
Tangible fixed assets 72,357,965.69 0.02 72,357,965.71
Impairment from valuer's valuation (2,016,283.49)
Total fixed assets 70,341,682.20
Intangible assets 3,701,650.24 0.00 3,701,650.24
Investment property 204,902.00 335,324.08 540,226.08
Impairment from valuer's valuation (3,910.00)
Total 200,992.00
Holdings in subsidiaries and affiliates 56,265,450.85 16,964,257.12 73,229,707.97
Goodwill from holdings valuation 33,064,779.11
89,330,229.96
Available-for-sale financial assets 0.00 2,976,979.97 2,976,979.97
Other long-term receivables 757,409.69 75,258.00 832,667.69
Inventories 53,634,461.39 1,131,903.03 54,766,364.42
Trade and other receivables 87,254,764.79 5,630,071.27 92,884,836.06
Derivatives 73,000.00 0.00 73,000.00
Cash and cash equivalents 16,014,672.96 42,849.88 16,057,522.84
Total assets before goodwill/ impairment (A) 290,264,277.61 27,156,643.37 317,420,920.98
Goodwill/ Impairment from valuations (B) 31,044,585.62
Grand total - Assets following Goodwill/ Impairment C= (A)-(B) 321,308,863.23
LIABILITIES
Long-term loans 76,228,260.32 0.00 76,228,260.32
Deferred tax liabilities 2,790,158.09 0.00 2,790,158.09
Deferred tax on fixed assets impairment (585,856.11)
2,204,301.98
Post-employment benefits 1,243,869.00 58,811.00 1,302,680.00
Grants 5,325,867.59 0.00 5,325,867.59
Provisions 0.00 200,000.00 200,000.00
Short-term loans 59,340,491.35 0.00 59,340,491.35
Trade and other payables 84,269,852.20 2,808,439.47 87,078,291.67
Taxes 0.00 1,047,297.94 1,047,297.94
Derivatives 316,524.00 0.00 316,524.00
Total liabilities before deferred tax (D) 229,515,022.55 4,114,548.41 233,629,570.96
Total liabilities after deferred tax (E) 228,929,166.43
Difference between Assets and Liabilities before adjustments (A)-(D) 60,749,255.06 23,042,094.96 83,791,350.02
Difference between Assets and Liabilities after adjustments (C)-(E) 92,379,696.79
EQUITY
Equity attributable to shareholders
Share capital 0.00 20,977,915.60 20,977,915.60
Share premium account 0.00 31,171,712.12 31,171,712.12
Other reserves 35,893,831.31 3,471,903.13 39,365,734.44
Reserve from fixed assets measurement at fair value (902,862.06) 0.00 0.00
Total reserves 34,990,969.25 0.00 0.00
Balance carried forward (7,724,012.14) 0.00 (7,724,012.14)
Correction of reserve from measurement at fair value (531,475.32) 0.00 0.00
(8,255,487.46) 0.00 0.00
Total equity (F) 26,735,481.79 55,621,530.85 83,791,350.02
Grand total - Equity and Liabilities before goodwill (G) 257,684,841.72 59,736,079.26 317,420,920.98
Difference between Assets and Total Equity & Liabilities before Goodwill (A)-(G) 32,579,435.89 (32,579,435.89) -
Difference between Assets and Total Equity & Liabilities after Goodwill (C)-(E) 65,644,215.00 - -
42 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
Based on the above Statement of Financial Position, the actual assets of the sector contributed to
"SYMM.EP. S.A." amounts to €92,379,696.79 and is broken down as follows:
Total assets of contributed sector on 31 December 2015 321,308,863.23
Less: Total liabilities of contributed sector on 31 December 2015 228,929,166.43
Value of contributed sector on 31 December 2015 92,379,696.79
The contributed capital that will increase the Acquirer's share capital amounts to €65,644,215 and is
specified after deducting the amount of reserves and balance carried forward, which are proportionate to
the contributed sector, namely:
Value of contributed sector on 31 December 2015 92,379,696.79
Less: Reserves of contributed sector (34,990,969.25)
Plus: Balance carried forward (Loss) of contributed sector 8,255,487.46
Contributed capital 65,644,215.00
13 Details of Acquirer
The company that will receive the contributed industrial sector and part of the commercial sector of the
Company is "SYMM.EP. Α.Ε. HOLDINGS AND INVESTMENTS S.A." ("SYMM.EP. S.A.").
Objective of Acquirer
"SYMM.EP. S.A." was set up in 2011. It has its registered office in Athens and its objective is to
manufacture, market and trade all types of cables as well as similar industrial products made of any metal
or other raw material, and to participate in all types of entities carrying on any economic activity, whether
be similar or different from the above, in Greece and abroad.
Shareholding of Acquirer
The unique shareholder of "SYMM.EP. S.A." is the Contributor holding 100% of its shares, namely
20,000 shares at €3 each, totalling €60,000.
Representation of Acquirer
The company's Board of Directors consists of the following five members: Nikolaos Tsertos Chairman
Konstantinos Kefalas Member
Charalambos Papanikolaou Member
Theodoros Valmas Member
Aggeliki Papadopoulou Member
In accordance with the minutes of the General Meeting held on 30 June 2015, the term of office of the
above Board of Directors is set at two years and shall expire on the date the Ordinary General Meeting of
2017 will be held.
43 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
Statement of Financial Position of Acquirer on 31.12.2015
On 31 December 2015, the concise financials of the Acquirer are as follows:
ASSETS
Other establishment expenses 901.66
Sundry debtors 328.39
Cash and cash equivalents 53,863.35
TOTAL ASSETS 55,093.40
LIABILITIES
EQUITY
Share capital 60,000.00
Results carried forward (4,906.60)
Total equity 55,093.40
TOTAL LIABILITIES 55,093.40
14 Exchange ratio of shares
Given that the Acquirer is a wholly-owned subsidiary of the Contributor, no issue is raised about the
exchange ratio of shares since all shares to be issued will be provided to the Contributor in exchange for
the contributed industrial sector and part of the commercial sector.
Based on the foregoing, the present value of the contributed sector (€92,379,696,79) will be added to the
Acquirer's Equity and will be allocated as follows:
Breakdown of Contributed Sector to the Acquirer's Equity Euro
Contributed capital 65,644,215.00
Reserves 34,990,969.25
Losses carried forward (8,255,487.46)
Total Contributed Sector to the Acquirer's Equity 92,379,696.79
The contributed capital of €65,644,215 will be added to the existing share capital of the Acquirer and
21,881,405 new shares will be issued with a nominal value of €3 each.
Specifically, the share capital of the Acquirer will be established as follows:
Share capital of Acquirer: 60,000
Plus: Contributed capital of sector 65,644,215
Total share capital following contribution of the sector: 65,704,215
The share capital of the Acquirer "SYMM.EP. S.A.", following consolidation of the contributed
sector, will amount to €65,704,215 divided in 21,901,405 shares with a nominal value of €3 each.
44 DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent audit, accounting and consulting companies.
HELLENIC CABLES SA
Report on the Market Value of the transferred Assets and Liabilities based on the
Statement of Financial Position as at 31 December 2015.
The new shares will be issued based on the relevant provisions of Article 52 of Law 4172/2013 and all of
them will be distributed to the Contributor since the latter owns 100% of the Acquirer's shares.
On behalf of
DFK PD AUDIT S.A.
Nikolaos Tsiboukas
Certified Auditor Accountant
Reg. No.- Greek ICPA 1715
Apostolos Spoutis
Certified Auditor Accountant
Reg. No.- Greek ICPA 1692
Annex Ι
STATEMENT OF FINANCIAL POSITION OF CONTRIBUTED
INDUSTRIAL SECTOR AND PART OF COMMERCIAL SECTOR
on 31 December 2015
Annex Ι
STATEMENT OF FINANCIAL POSITION OF CONTRIBUTED
INDUSTRIAL SECTOR AND PART OF COMMERCIAL SECTOR
on 31 December 2015
ASSETS
Non-current assets
Tangible fixed assets 72,357,965.69
Intangible assets 3,701,650.24
Investment property 204,902.00
Holdings in subsidiaries and affiliates 56,265,450.85
Other long-term receivables 757,409.69
Inventories 53,634,461.39
Trade and other receivables 87,254,764.79
Derivatives 73,000.00
Cash and cash equivalents 16,014,672.96
Total assets (Α) 290,264,277.61
LIABILITIES
Long-term loans 76,228,260.32
Deferred tax liabilities 2,790,158.09
Liabilities for post-employment benefits 1,243,869.00
Grants 5,325,867.59
Short-term loans 59,340,491.35
Suppliers and other liabilities 84,269,852.20
Derivatives 316,524.00
Total liabilities (B) 229,515,022.55
Difference between Assets and Liabilities (A)-(B) 60,749,255.06
EQUITY
Equity attributable to shareholders
Other reserves 35,893,831.31
Balance carried forward (7,724,012.14)
Total equity (C) 28,169,819.17
Grand total - Equity and Liabilities (D) 257,684,841.72
Difference between Assets and Total Equity & Liabilities before Goodwill (A)-(D) 32,579,435.89
Athens, 31 March 2016
THE CHAIRMAN OF
THE
BOARD OF DIRECTORS
A MEMBER OF THE
BOARD OF DIRECTORS
THE GENERAL
MANAGER
THE FINANCIAL
MANAGER
IOANNIS BATSOLAS
IOANNIS
STAVROPOULOS ALEXIOS ALEXIOU IOANNIS THEONAS
AK 034042 Κ 221209 Χ 126605 ΑΕ 035000
LICENCE No.
CLASS A': 0011130
Annex II
FINANCIAL STATEMENTS OF ACQUIRER on 31 December 2015
Annex II
FINANCIAL STATEMENTS OF ACQUIRER on 31 December 2015
"SYMM.EP. S.A. PARTICIAPTIONS AND INVESTMENTS SOCIETE ANONYME"
GEMI Registration No: 117706401000
BALANCE SHEET AS OF 31 DECEMBER 2015
4th FINANCIAL PERIOD (1 JANUARY - 31 DECEMBER 2015)
Amounts in EUR
ASSETS EQUITY & LIABILITIESFISCAL YEAR FISCAL YEAR
Cost Accumulated Net Cost Accumulated Net 2015 2014
Value Depreciation Book Value Value Depreciation Book Value
B.PRE-OPERATING EXPENSES Α . EQUITY
4.Other pre-operating costs 3.005,52 2.103,86 901,66 3.005,52 1.803,31 1.202,21 Ι. Share Capital
( 20.000 shares of 3,00 EUR)
Δ. CURRENT ASSETS 1. Καταβλημένο 60.000,00 60.000,00
ΙΙ. Receivables V. Retained earnings/(deficit)
11. Sundry debtors 328,39 463,48 Current year's result (2.412,48) (1.397,23)
Prior year's profits / (losses) (2.494,12) (1.096,89)
IV. Cash & cash equivalents (4.906,60) (2.494,12)
1. Cash on hand 417,78 467,78 TOTAL EQUITY (ΑΙ+AV) 55.093,40 57.505,88
3. Sight and term deposits 53.445,57 55.372,41
53.863,35 55.840,19
TOTAL CURRENT ASSETS (ΔΙΙ+ΔΙV) 54.191,74 56.303,67
TOTAL ASSETS (B+Δ) 55.093,40 57.505,88 TOTAL EQUITY & LIABILITIES ( Α ) 55.093,40 57.505,88
INCOME STATEMENT FOR THE YEAR ENDED AT INCOME APPROPRIATION ACCOUNT
31 December 2015 (1 January 2015 - 31 December 2015)
FISCAL YEAR FISCAL YEAR
2015 2014
Ι. Operating results Current year's profits / (losses) (2.412,48) (1.397,23)
LESS : (+/-) Prior year's profits / (losses) (2.494,12) (1.096,89)
1.Administrative expenses 2.993,25 2.858,44 Retained earnings/(deficit) (4.906,60) (2.494,12)
Operating result (loss) (2.993,25) (2.858,44)
PLUS :
4.Interest and related income 580,77 580,77 1.461,21 1.461,21
Operating result (2.412,48) (1.397,23)
LESS :
Total Depreciation recorded 300,55 300,55
Less: Depreciation included in operating results 300,55 0,00 300,55 0,00
NET RESULTS (Loss) FOR THE YEAR BEFORE TAXES (2.412,48) (1.397,23)
ATHENS, 28 MARCH 2016
THE VICE CHAIRMAN OF BOARD OF DIRECTORS THE CHAIRMAN OF BOARD OF DIRECTORS THE CHIEF ACCOUNTANT
THEODOROS LEON. VALMAS NIKOLAOS THEOD. TSERTOS PANTELIS S. MAVRAKIS
ID.N.: AK 707958 ID.N.: ΑΒ 040168 ID.N.:: AM 096738
LICENCE No: 16288 Α DEGREE
FISCAL YEAR 2015
FISCAL YEAR 2015
FISCAL YEAR 2014
FISCAL YEAR 2014
DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Consultants,
a full member of the DFK International network, an association of independent
auditing, accounting and consulting companies.
Annex ΙΙΙ
LIST OF MACHINES AND TRANSPORT MEANS
Annex ΙΙΙ
Page 1 of 14
DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent
audit, accounting and consulting companies.
Machines (1200) - Technical Installations (1201)
Fixed
Asset
Code Fixed Asset Description
Acquisition Value
31.12.2015 Amortised 31.12.2015
Unamortised Value
31.12.2015
12000140 PLASTIC COMPOUNDS LINING MACHINE 19,232.20 0.00 19,232.20
12000181 BABURI 2.(MIXER W & P) 69,862.31 6,912.18 62,950.13
12000201 MIXER PLAS MEC No. 1 268,066.23 22,339.59 245,726.64
12000203 AUTOMATIC LOADING-UNLOADING RAMP 1,213.49 0.00 1,213.49
12000204 COOLING TOWER 7,977.44 664.79 7,312.65
12000205
SYSTEM FOR EMPTYING BIG BAGS & FILLING
SILOS 22,122.84 1,843.57 20,279.27
12000209 SILO AL 17,711.91 1,475.99 16,235.92
12000210 MIXER FEEDING SYSTEM 84,402.69 7,033.56 77,369.13
12000211 SUBSTATION 68,786.39 5,732.20 63,054.19
12000212 PUMP HOUSE FOR PLASTIC-ELASTIC WORKS 14,771.29 1,230.94 13,540.35
12000213
WEIGHING UNIT FOR PLASTIC-ELASTIC
WORKS 50,084.08 4,173.67 45,910.41
12000215 GRANULATING MACHINE 215,361.11 17,946.76 197,414.35
12000219 WERNER LINING MACHINE 311,728.76 25,973.38 285,755.38
12000221 BABURI I.(RELOCATION-IMPROVEMENT) 96,388.29 14,803.69 81,584.60
12000225 MIXER PLUS MEC No. 2 199,838.47 24,979.81 174,858.66
12000238 25 KG BIG BAGS PACKING MACHINE 7,238.53 603.21 6,635.32
12000239
SMALL LINING MACHINE PHEOMEX 252P
(EXTRUDER AND CONVEYOR) 19,818.46 1,651.54 18,166.92
12000249 WERNER MACHINE (LSF) 737,617.66 52,647.62 684,970.04
12000279 MIXER RIBBON (FULGOR) 18,360.32 2,059.10 16,301.22
12000281 MIXER PVC (FULGOR) 7,359.07 825.32 6,533.75
12010006
QUALITY CONTROL ROOM COOLER FOR
INSTALLATIONS ΤΙΜ144 CLIMAFRIGO 8,122.67 8,122.65 0.02
12010007
O/I SMOKE INDUCTION SYSTEM FOR
REPAINTING ΤΙΜ288 TECHNO-CAL 7,346.00 7,345.99 0.01
12010008
INDUCTION SYSTEM FOR RE-INSULATION
INSTALLATION COST ΕΥΕ 51/95 3,245.14 3,245.12 0.02
12010009
DEIONIZED WATER CIRCULATION
INSTALLATION ΕΥΕ 56/98 62,819.78 59,657.36 3,162.42
12010010
CLEAN WASH OILS CIRCULATION OF
INSULATING MACHINES FOR
MANUFACTURING ΕΥΕ 65/98 9,368.73 9,368.69 0.04
12010011
CONSTRUCTION COST OF PUMP HOUSE-
DISTRIBUTION NETWORK ΕΥΕ 005 30,000.00 20,082.52 9,917.48
12010012
PUMP HOUSE COOLING TOWER BALTIMORE 1
ITEM Μ137/91 4,000.00 3,823.23 176.77
12010013
INSTALLATION COST OF AIR COMPRESSORS-
DISTRIBUTION NETWORK ΕΥΕ010 15,000.00 14,196.43 803.57
12010014
SUBSTATIONS FOR TRANSPORT-
DISTRIBUTION OF LOW VOLTAGE ΕΥΕ 003 43,862.10 22,200.35 21,661.75
12010015
DISTRIBUTION LINE OF LOW VOLTAGE -
LIGHTING ΕΥΕ006 77,319.16 69,950.47 7,368.69
Mechanical Equipment at Oinofita (Α) 2,499,025.12 410,889.73 2,088,135.39
12000001 SHEARING MACHINE BS-700 862.62 0.00 862.62
12000002 REDUCTION MACHINE TRB1 4,358.57 0.00 4,358.57
12000003 REDUCTION MACHINE TRB2 862.62 0.00 862.62
12000005 REDUCTION MACHINES TRB3 Νo 1 & 2 862.62 0.00 862.62
12000006 REDUCTION MACHINE MS 120 521.21 0.00 521.21
12000009 TORSION MACHINE CORTINOVIS 521.21 0.00 521.21
Annex ΙΙΙ
Page 2 of 14
DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent
audit, accounting and consulting companies.
12000010 REDUCTION MACHINE HERBON (3 MACHINES) 1,033.33 0.00 1,033.33
12000013 ANNEALING OVEN 1,374.74 0.00 1,374.74
12000019 HENRICH E-D (2 MACHINES) 862.62 0.00 862.62
12000023 VARNISH ΜΙΧΕR 862.62 0.00 862.62
12000028 OVEN D24 862.62 0.00 862.62
12000033 OVEN ΝΕΜ 2,651.50 0.00 2,651.50
12000038 PUMP HOUSE 2,651.50 0.00 2,651.50
12000039 AIR COMPRESSOR ROOM 1,374.74 0.00 1,374.74
12000040 FACTORY WORKSHOP 521.21 0.00 521.21
12000041 SUBSTATION 23,198.90 649.66 22,549.24
12000043 OVENS VZ6 & VZ7 (3+3 LINES) 9,773.17 977.32 8,795.85
12000044 OVEN HES 2Β(4)-ΗΕS 4(8) [12 LINES] 20,189.14 0.00 20,189.14
12000045 MOULDS MACHINE 862.62 57.51 805.11
12000046
TORSION MACHINE FOR BUNDLE
CONDUCTORS 862.62 0.00 862.62
12000182 OVEN SEM BY SIGME FIRM 4,783.90 0.00 4,783.90
12000187 TORSION MACHINE SAMP 800 NO 2 5,838.09 0.00 5,838.09
12000190 3 LINE VERTICAL OVEN VZ-8 19,279.99 0.00 19,279.99
12000193 REDUCTION MACHINE ΝΙΕΗΟFF MM 85 149,938.02 16,269.88 133,668.14
12000195 NEW COMPLEX FOR ENAMEL DEVICES 2,752.53 365.63 2,386.90
12000198 HORIZONTAL OVEN SIGME (4 LINES) 28,344.63 0.00 28,344.63
12000199
HORIZONTAL OVEN HESS 4F (4 LINES)
HORIZONTAL 28,497.56 0.00 28,497.56
12000206 VERTICAL OVENS VZF-GL(3+3) 52,840.24 0.00 52,840.24
12000207 TORSION MACHINE SAMP BM 800-D 6,632.30 0.00 6,632.30
12000208 OVEN HES F-4 (4 LINES) 99,911.27 13,599.92 86,311.35
12000218 ROLLING MACHINE VON ROLL 13,212.89 0.00 13,212.89
12000224 HORIZONTAL OVENS HES F 8 LINES 320,989.58 45,855.65 275,133.93
12000226 HORIZONTAL OVENS SICME A400 4 LINES 166,581.30 23,797.33 142,783.97
12000240 OVEN VZ-8F 1 LINE 259,125.28 28,837.16 230,288.12
12000252
HORIZONTAL ENAMELLING OVEN HES6F 4
LINES 614,284.84 36,492.17 577,792.67
Mechanical Equipment at Livadia (Β) 1,848,082.60 166,902.23 1,681,180.37
12000048
PACKAGING MACHINE SKALTEK MP.240
(SMALL) 188,718.19 0.00 188,718.19
12000053 AGEING OVEN 34,778.08 6,955.62 27,822.46
12000070 SUBSTATION XLPE 25,238.73 1,539.13 23,699.60
12000079 TORSION MACHINE FOR 132 BRANCHES 28,653.20 0.00 28,653.20
12000090 LEAD LINING MACHINE 531,253.62 14,409.96 516,843.66
12000093 TORSION MACHINE BUNCHER 158,893.57 31,704.69 127,188.88
12000094 TORSION MACHINE FOR 40 BRANCHES 16,696.15 8,348.08 8,348.07
12000096 MIXER XLPE 12,559.11 0.00 12,559.11
12000097 WINDING MACHINE TRAFALGAR 4 PIECES 7,934.55 0.00 7,934.55
12000099 WELDING MACHINE 7,934.55 0.00 7,934.55
12000131 MACHINE F13 AL & SPOOLING MACHINE 331,685.68 66,358.52 265,327.16
12000144 LINING MACHINE CEANDER 1,029,709.91 98,025.04 931,684.87
Annex ΙΙΙ
Page 3 of 14
DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent
audit, accounting and consulting companies.
12000145 TORSION MACHINE ASCOR 225,987.38 45,197.48 180,789.90
12000146 TORSION MACHINE FOR 84 BRANCHES 469,957.11 71,187.99 398,769.12
12000148 LINE TROESTER 101,909.05 0.00 101,909.05
12000154
MACHINE BRANDINE MASINE BY SRIRKA
FIRM 6,919.16 0.00 6,919.16
12000155 LINING MACHINE ΝΟΚΙΑ 4' 283,916.67 56,641.53 227,275.14
12000156 SPIRKA TYPE 24N4 DC/W (GAUDER) 8,284.81 0.00 8,284.81
12000158 NEW AIR COMPRESSOR ATLAS COPCO 6,065.63 0.00 6,065.63
12000162 PACKAGING MACHINE SKALTEK Νo 2 56,097.62 0.00 56,097.62
12000179 SPOOLING-UNSPOOLING MACHINE 1 ITEM 17,009.31 0.00 17,009.31
12000185
CABLE REELING MACHINE CROSS-SECTION
320 ΜΜ 10,292.55 1,132.18 9,160.37
12000186 SPOOLING-CUTTING MACHINE (PORTABLE) 5,454.03 0.00 5,454.03
12000188 INSULATING MACHINE ROSENTAL 1 245,087.02 29,614.91 215,472.11
12000189 TORSION MACHINE CABALLE 689,252.69 85,931.76 603,320.93
12000196 AIR COMPRESSOR ATLAS COPCO 17,564.93 3,512.99 14,051.94
12000197 TORSION MACHINE SETIC 122,100.13 12,210.01 109,890.12
12000214 NEW LINE 6" (TROIA) 726,213.14 73,112.90 653,100.24
12000222 NEW VULCANIZATION OVENS 7,393.48 1,478.70 5,914.78
12000223 CUTTING-PACKAGING MACHINE KABELMAT 271,103.83 18,073.59 253,030.24
12000228 LINE SZ 938,011.33 92,796.78 845,214.55
12000230 BACK-UP POWER GENERATOR 250 KWA 12,554.97 837.00 11,717.97
12000231 HIGH VOLTAGE LINE 4,212,334.10 338,207.07 3,874,127.03
12000232 TORSION MACHINE CABALLE 630 1,027,794.41 68,519.62 959,274.79
12000233 AIR COMPRESSOR Νo 3 8,607.47 860.75 7,746.72
12000234 MECHANICAL SHEATHS HERA 696,845.27 69,684.53 627,160.74
12000235 INSULATING-SHEATHS MACHINE DIAS 709,661.16 70,990.19 638,670.97
12000236 DOUBLE WIRE-DRAWING MACHINE HENRICH 920,576.65 61,394.64 859,182.01
12000241 CABALLE DB 1600 579,280.96 38,100.44 541,180.52
12000242 CABALLE DT-2240 1,089,664.65 90,747.05 998,917.60
12000243 ARMOUR MACHINE POURTIER ST 1601 548,297.20 45,694.04 502,603.16
12000244 CENTRAL SUBSTATION 190,122.34 12,736.83 177,385.51
12000246 SUBSTATION Νo 2 127,334.36 6,368.15 120,966.21
12000247 SUBSTATION Νo 3 344,491.92 18,052.69 326,439.23
12000248 INSTALLATION OF LINING MACHINE PAZL 558,638.32 54,772.49 503,865.83
12000250 CABLES UNSPOOLING MACHINE 7,465.10 0.00 7,465.10
12000251 FULL SET OF PERCUSSION MACHINE 318,075.26 21,434.14 296,641.12
12000253 MEDIUM VOLTAGE LINE MV & HV CV LINES 3,766,772.05 253,510.66 3,513,261.39
12000254 MACHINE BRONDEL 51,118.74 4,247.64 46,871.10
12000255 TORSION MACHINE CORTINOVIS 1,346,720.01 84,362.47 1,262,357.54
12000256 BRONDEL (SCREENING LINE) 437,259.36 27,469.61 409,789.75
12000257
FRIGERIO ALUMINIUM WIRE REDUCTION
MACHINE 1,086,130.60 68,188.39 1,017,942.21
12000258 ΝΟΚΙΑ 3 (Μ & Y UNIT) 3,857,291.38 232,909.55 3,624,381.83
12000259 LINING MACHINE ALMA 2,513,059.06 158,124.29 2,354,934.77
12000260
DYEING APPLIANCE Ο/Ι OFC 52 PURCHASE
Μ853/01 1 ITEM ΝΕXTROM OY 89,091.53 6,179.76 82,911.77
Annex ΙΙΙ
Page 4 of 14
DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent
audit, accounting and consulting companies.
12000261
PIPING LINE Ο/Ι OFC 40 PURCHASE Μ846/01 1
ITEM NEXTROM 493,710.51 34,245.82 459,464.69
12000262
SHEATHS LINE Ο/Ι OFC 60 Μ845/01 1 ITEM
ΝΕΧTROM 605,016.18 42,069.95 562,946.23
12000263
TORSION MACHINE Ο/Ι SZ No 2 PURCHASE
COST Μ-176/98 131,555.15 13,970.46 117,584.69
12000264
HOOP MACHINE ROBLON PURCHASE Μ857/01
2 ITEMS ROBLON A/S 95,670.70 6,636.12 89,034.58
12000265
DIFFERENTIAL SPOOLING MACHINE Ο/Ι
MEASUREMENTS RECORDER ΕΥΕ 004 13,416.12 1,475.77 11,940.35
12000270
TORSION MACHINE CORTINOVIS I ITEM
ΤΙΜ453 ΕΚΜ SA 10,837.15 1,192.08 9,645.07
12000271
UNSPOOLING MACHINE LAN M833/01
POURTIER 36,165.98 3,978.24 32,187.74
12000274
CABLES RESPOOLING MACHINE PURCHASE
COST Μ 231/92 41,595.22 4,575.48 37,019.74
12000275
DIFFERENTIAL PLASTICIZATION MACHINE TM
CORGATE 1 ITEM SIEMENS M190/92 80,889.30 8,897.82 71,991.48
12000277 TORSION MACHINE POURTIER 3600 1,539,332.37 77,605.28 1,461,727.09
12000278 SCREENING MACHINE FOR 66 BRANCHES 389,309.05 20,551.22 368,757.83
12000280 MACHINE TRB2 No 3 52,637.71 4,111.14 48,526.57
12000282 COPPER REDUCTION MACHINE (200-188) 149,559.83 7,333.33 142,226.50
12000283 MACHINE LESMO 2000 509,069.80 25,453.49 483,616.31
12000284 MACHINE LESMO 69,255.68 0.00 69,255.68
12010001
MECHANICAL INSTALLATION OF PNEUMATIC
TRANSPORT 414,238.78 27,615.92 386,622.86
12010002 DEGASSING OVENS 155,477.42 8,712.64 146,764.78
12010004 NEW DEGASSING OVENS 405,831.15 20,403.34 385,427.81
12010005
ELECTROMECHANICAL EQUIPMENT OF PUMP
HOUSE Β 92,168.09 13,325.51 78,842.58
12010016 CLEANING ROOM MV & MHV 251,173.30 17,028.70 234,144.60
12010018 OPTIC FIBRE NETWORK 52,184.55 0.00 52,184.55
Remaining (unamortised value < 5,000 Euros) 12,714.09 1,919.61 10,794.48
Mechanical Equipment at Thiva (C) 36,683,670.21 2,792,725.78 33,890,944.43
Total for Machines-
Technical Installations (Α)+(Β)+(C) 41,030,777.93 3,370,517.74 37,660,260.19
Tools (1203)
Fixed
Asset
Code Fixed Asset Description
Acquisition
Value
31.12.2015
Amortised
31.12.2015
Unamortised Value
31.12.2015
12030106
HYDRAULIC CABLES CUTTING MACHINE HCC
150''HOLMATRO'' 9,240.00 7,030.10 2,209.90
12030107 PLASMEC MIXER KNIVES 11,680.30 9,743.29 1,937.01
12030136 MOTORIZED PEELING TOOL S50 7,955.11 5,177.44 2,777.67
12030155 SLING MCU 120RM XLPE 20KV STRIPLE IEC 2,628.00 1,349.04 1,278.96
12030157 SLING MCU 400RM 61X2.96 XLPE 30KV 8,478.00 4,352.04 4,125.96
12030159 SLING MAL 500RM COMP+HM YT XLPE 150KV 3,426.00 1,758.68 1,667.32
12030186 VARIOUS TURN KEY TOOLS 22,644.53 11,831.78 10,812.75
12030193 POWER GENERATOR DIEZEL LOBARDINI 9KVA 4,200.00 1,694.00 2,506.00
12030210 HYDRAULIC PRESS FOR WORKSHOP 50 TONS 1,350.00 270.00 1,080.00
12030216 MAL 400RM COMP XLPE 20KV VDE BONDED BS 1,298.15 259.64 1,038.51
12030224 MAL 500RM COMP XLPE 30KV VDE BOND BS 1,396.43 279.28 1,117.15
12030227 MAL 800RM 61X4.25+ΗΜ XLPE 20KV VDE BO BS 2,578.74 515.74 2,063.00
12030228 MAL 800RM 61X4.25+ΗΜ XLPE 20KV VDE BO BS 2,038.03 407.60 1,630.43
Annex ΙΙΙ
Page 5 of 14
DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent
audit, accounting and consulting companies.
12030229 MAL 240RM COMP+Y.T.FD2300 XLPE 110KV 6,203.83 1,240.76 4,963.07
12030230 MAL 1200RM 91X4.25 WB+WB TAI110KV P15.2 9,027.05 1,805.42 7,221.63
12030235 MAL 800RM WB TAP+HM (DK0140) 400KV P35.9 21,007.42 4,201.48 16,805.94
12030236 MCU 240RM COMP XLPE 10KV VDE BOND BS 4,551.86 910.38 3,641.48
12030237 MCU 240RM COMP XLPE 10KV VDE BOND BS 4,217.50 843.50 3,374.00
12030246 MCU 630RM COMP WTB+YT(DK0140) 132 KV 17,388.86 3,477.78 13,911.08
12030249 MCU 400RM COMP WB TAP+YT(DK0140)XL 132KV 12,934.94 2,586.98 10,347.96
12030250 MCU 400RM COMP WB TAP+YT(DK0140)XL 132KV 9,799.20 1,959.84 7,839.36
12030253 TOOLS JOINTING UHV 117,580.49 34,294.31 83,286.18
12030254 TOOLS JOINTERS 44,500.30 8,900.06 35,600.24
12030290 TOOLS JOINTERS 1,846.87 184.69 1,662.18
12030292 INDUSTRIAL ELECTRIC WELDING MMA-TIG-MIG 1,100.00 55.00 1,045.00
12030301 421624 MAL 2000SL COMP MIL WTB YT XLPE 220 KV 13,380.00 0.00 13,380.00
12030302 411302 MAL 300RM COMP XLPE VDE 30KV BOND BS 1,319.20 0.00 1,319.20
12030303 416454 MAL 500RM WTB+HM NO-W XLPE 400 KV BON IE 11,564.00 0.00 11,564.00
12030304 412853 MAL 630RM COMP 61X3.75 XLPE 30KV STR IEC 2,185.60 0.00 2,185.60
12030305 417974 MCU 1600RM COMP SUB WBL+WFC XLPE 220KV-V 31,346.70 0.00 31,346.70
12030306 417520 MCU 2000SL MILLIK +HM YT XLPE 161KV 47,742.00 0.00 47,742.00
12030307 417518 MCU 2500SL MILLIK ENAMEL+ΗΜ YT XLPE 400 KV 56,989.45 0.00 56,989.45
12030308 413955 MCU 400RM COMP+FD4100 XLPE 44KV BON 15,787.20 0.00 15,787.20
12030309 411247 MCU 400RM COMP XLPE 20KV VDE BONDED BS 6,780.80 0.00 6,780.80
Remaining tools (unamortised value < 1,000 Euros) 159,221.29 143,390.46 15,830.83
Total 675,387.85 248,519.29 426,868.56
Moulds-Jigs (1204)
Fixed
Asset
Code Fixed Asset Description
Acquisition Value
31.12.2015
Amortised
31.12.2015
Unamortised Value
31.12.2015
12040350
ALUMINIUM WIRE DRAWING DIAMOND DIES 19
ITEMS 13,925.46 696.27 13,229.19
12040056 DIAMOND DIES 1446 ITEMS 59,614.39 46,449.55 13,164.84
12040164 COPPER WIRE DIAMOND DIES 650 ITEMS 18,938.34 8,506.48 10,431.86
12040300 METALLIC MOULDS FOR MACHINE 70/130 12 ITEMS 11,200.00 840.00 10,360.00
12040198 MOULDS 6 ITEMS 16,037.50 5,733.42 10,304.08
12040338 DIVIDED METALLIC MOULDS 82 ITEMS 10,086.00 84.05 10,001.95
12040188
PUZZLE MOULDS, DIAMETER 4.00mm-4,500mm
INNER & OUTER 11,915.94 3,823.02 8,092.92
12040132 MOULDS FOR EUROCARB _ALMA 15,499.95 7,672.47 7,827.48
12040321 DIVIDED METALLIC MOULDS 11 ITEMS 7,800.00 195.00 7,605.00
12040297
METALLIC MOULD CTC FOR MACHINE 70/130 8
ITEMS 7,680.00 512.00 7,168.00
12040349 COPPER WIRE DRAWING DIAMOND DIES 176 ITEMS 7,544.39 377.22 7,167.17
12040289 PCD DIES 4 ITEMS 6,647.00 830.88 5,816.12
12040351 COPPER WIRE DRAWING DIAMOND DIES 149 ITEMS 5,728.13 95.47 5,632.66
12040225 MOULDS FOR MACHINE 70/130 6,900.00 1,437.50 5,462.50
12040287 PCD DIES 2 ITEMS 6,332.50 897.10 5,435.40
Annex ΙΙΙ
Page 6 of 14
DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent
audit, accounting and consulting companies.
12040353 COPPER WIRE DRAWING DIAMOND DIES 148 ITEMS 5,354.34 0.00 5,354.34
12040257 METALLIC MOULDS FOR MACHINE 70/130 5,600.00 886.67 4,713.33
12040328 DIVIDED METALLIC MOULDS TIP 1 6 ITEMS 4,800.00 320.00 4,480.00
12040113 COPPER WIRE DRAWING DIAMOND DIES 356 ITEMS 9,869.63 5,428.30 4,441.33
12040354 PCD DIE 23mm 4,687.00 273.41 4,413.59
12040263 DIVIDED METALLIC MOULD TIP 1 4 ITEMS 4,800.00 480.00 4,320.00
12040314 METALLIC MOULDS FOR MACHINE 70/130 5 ITEMS 4,500.00 187.50 4,312.50
12040309 METALLIC MOULDS FOR MACHINE 70/130 5 ITEMS 4,500.00 225.00 4,275.00
12040070 CONSTRUCTION OF MOULDS FOR HEAD CEANDER 14,498.00 10,233.18 4,264.82
12040303 METALLIC MOULDS FOR MACHINE 70/130 5 ITEMS 4,500.00 262.50 4,237.50
12040288 Adjustable Closing Die 40-120mm 4,850.00 646.67 4,203.33
12040291 METALLIC MOULDS FOR MACHINE 70/130 5 ITEMS 4,500.00 412.50 4,087.50
12040295 METALLIC MOULDS FOR MACHINE 70/130 5 ITEMS 4,365.98 327.45 4,038.53
12040259 METALLIC MOULDS FOR MACHINE 70/130 3 ITEMS 4,500.00 562.50 3,937.50
12040336 MOULDS 6 ITEMS 3,900.00 65.00 3,835.00
12040067
SET OF MOULDS TROIAS (INNER DIAMETER 60MM
& OUTER DIAMETER 115ΜΜ) 14,284.00 10,474.94 3,809.06
12040304
WHEELS FOR CONDUCTOR MILLIKEN 1600 10
ITEMS 4,000.00 200.00 3,800.00
12040327 MOULD CASES ALMA 3 ITEMS 3,750.00 31.25 3,718.75
12040241 SPLIΤ DIE Φ120Χ1750 4,500.00 825.00 3,675.00
12040290 DIAMOND DIES 107 ITEMS 4,310.35 646.56 3,663.79
12040057 ENAMELLING DIES 2319 ITEMS 16,497.53 12,854.34 3,643.19
12040226 METALLIC MOULDS FOR MACHINE 70/130 4,500.00 900.00 3,600.00
12040227 METALLIC MOULDS FOR MACHINE 70/130 4,500.00 900.00 3,600.00
12040228 METALLIC MOULDS FOR MACHINE 70/130 4,500.00 900.00 3,600.00
12040307 DIVIDED METALLIC MOULDS CTC 2 ITEMS 3,750.00 156.25 3,593.75
12040218 MOULDS FOR MACHINE 70/130 4,500.00 975.00 3,525.00
12040223 MOULDS FOR MACHINE 70/130 4,500.00 975.00 3,525.00
12040240 PCD DIE 4,294.00 858.80 3,435.20
12040238 COPPER WIRE DRAWING DIAMMOND DIES 4,353.09 979.45 3,373.64
12040282 PCD DIES 2 ITEMS 4,003.50 633.89 3,369.61
12040358 MOULDS 2 ITEMS 3,300.00 55.00 3,245.00
12040283 PCD DIE 23.15 I ITEM 3,700.34 524.21 3,176.13
12040285 PCD DIES 5 ITEMS 3,582.82 507.56 3,075.26
12040258 METALLIC MOULDS FOR MACHINE 70/130 5 ITEMS 3,450.00 488.75 2,961.25
12040275 ENAMELLING DIES 430 ITEMS 3,278.40 355.16 2,923.24
12040119 MOULDS CONSTRUCTION ALMA 6,240.00 3,317.60 2,922.40
12040255 MOULDS CEANDER 6 SET 3,420.00 513.00 2,907.00
12040273 DIES 117 ITEMS 3,303.30 412.91 2,890.39
12040305 WHEELS MILLIKEN 1800 72 DEGREES 5 SET 2,890.00 144.50 2,745.50
12040260 MOULDS 19 ITEMS FOR HERA-DIAS 3,000.00 350.00 2,650.00
12040213 MOULDS FOR MACHINE 70/130 (240#Cu,110kV) 3,500.00 875.00 2,625.00
12040176 MOULDS FOR MACHINE 70/130 4,320.00 1,702.80 2,617.20
12040232 COPPER WIRE DRAWING DIAMMOND DIES 3,508.24 906.29 2,601.95
Annex ΙΙΙ
Page 7 of 14
DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent
audit, accounting and consulting companies.
12040212 METALLIC MOULDS FOR MACHINE 70/130 3,500.00 904.17 2,595.83
12040194 PCD DIES FOR ALUMINIUM CONDUCTOR 2 ITEMS 4,268.25 1,682.41 2,585.84
12040096
MOULDS INTERNAL HEAD EUROCARB Φ=20mm-
Φ=55mm 6,733.33 4,240.37 2,492.96
12040163 ENAMELLING MOULDS 794 ITEMS 4,927.69 2,439.23 2,488.46
12040090 T/C DIES 54 ITEMS 9,944.38 7,474.85 2,469.53
12040234 PCD DIE 3,348.00 920.70 2,427.30
12040126 DIVIDED MOULD L=1730mm 4,980.00 2,602.05 2,377.95
12040348 COPPER WIRE DRAWING DIAMOND DIES 70 ITEMS 2,423.30 141.36 2,281.94
12040341 METALLIC MOULDS FOR MACHINE 70/130 2 ITEMS 2,200.00 18.33 2,181.67
12040264 DIVIDED METALLIC MOULD 2 ITEMS 2,400.00 240.00 2,160.00
12040301 METALLIC MOULDS FOR MACHINE 70/130 2 ITEMS 2,200.00 128.33 2,071.67
12040268 DIAMOND WIRE DRAWING DIES 7 ITEMS 2,416.55 362.49 2,054.06
12040233 ENAMELLING DIES 2,631.81 614.09 2. 017.72
12040296 METALLIC MOULDS FOR MACHINE 70/130 2 ITEMS 2,134.02 160.05 1,973.97
12040116 PCD DIES with stainless steel case 20.45 4,511.00 2,605.10 1,905.90
12040306 WHEELS MILLIKEN 1600 5SEC 2,000.00 100.00 1,900.00
12040196 DIES 6 ITEMS 2,987.00 1,122.61 1,864.39
12040253 METALLIC MOULDS FOR MACHINE 70/130 2,200.00 366.67 1,833.33
12040357 Roller Guide 1,712.00 0.00 1,712.00
12040217 MOULDS FOR MACHINE HEAD 70/130 2,200.00 495.00 1,705.00
12040216 MOULDS FOR MACHINE 70/130 2,200.00 513.33 1,686.67
12040031 DIAMOND MOULDS 101 ITEMS 18,088.09 16,414.95 1,673.14
12040215 MOULDS FOR MACHINE 70/130 2,200.00 531.67 1,668.33
12040236 COPPER WIRE DRAWING DIAMOND DIES 2,158.55 539.65 1,618.90
12040168 DIVIDED METALLIC MOULD 2,640.00 1,040.60 1,599.40
12040329 EXTERNAL MOULDS 4 ITEMS 1,640.00 41.00 1,599.00
12040334 DIVIDED METALLIC MOULDS 5 ITEMS 1,500.00 0.00 1,500.00
12040269 DIAMOND DIES 15 ITEMS 1,761.69 264.25 1,497.44
12040165
CONSTRUCTION OF CEANDER MOULDS FOR 4Χ10
NYCWY 2,400.00 945.99 1,454.01
12040209 MOULDS FOR MACHINE 70/130 (MYT) 1,900.00 506.67 1,393.33
12040114 NATURAL DIAMOND DIES 117 ITEMS 3,519.97 2,161.87 1,358.10
12040122 MOULDS FOR MACHINE 70/130 2,790.00 1,457.78 1,332.22
12040220 WOODEN SLABS 1,626.00 331.98 1,294.02
12040239 COPPER WIRE DRAWING DIAMOND 1,614.93 322.98 1,291.95
12040049 MOULDS CEANDER A=42.50mm, 27.50mm, 52.50mm 6,980.00 5,694.52 1,285.48
12040299
INTERNAL & EXTERNAL MOULD FOR ALMA 2
ITEMS 1,385.00 103.88 1,281.12
12040169 MOULDS FOR MACHINE HEAD 70/130 2,250.00 969.38 1,280.62
12040221
WOODEN FACADE OF UNSPOOLING MACHINE
FRIGERIO 1,626.10 352.32 1,273.78
12040050 MEDIUM VOLTAGE TRIPLE HAED MOULDS 9,000.00 7,755.00 1,245.00
12040086 DIE 1 ITEM 4,294.40 3,070.47 1,223.93
12040335 METALLIC MOULDS FOR MACHINE 70/130 2 ITEMS 1,250.00 31.25 1,218.75
12040237 COPPER WIRE DRAWING DIAMAND DIES 1,622.70 405.68 1,217.02
12040105 AXES FOR BRONDEL BASKETS (DRAWING ΕΤ/8) 2,760.00 1,543.31 1,216.69
Annex ΙΙΙ
Page 8 of 14
DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent
audit, accounting and consulting companies.
12040219 MOULDS CEANDER 1,500.00 325.00 1,175.00
12040177 WHEELS MILIKEN 24A, 24B, 18A, 18B, 12B 1,800.00 643.50 1,156.50
12040316 WHEELS MILLIKEN FOR CROSS 1600 5S 4 ITEMS 1,200.00 50.00 1,150.00
12040192 COPPER WIRE DRAWING DIAMOND DIES 18 ITEMS 1,773.55 634.05 1,139.50
12040261 METALLIC MOULDS FOR MACHINE 70/130 4 ITEMS 1,290.00 161.25 1,128.75
12040279 PCD DIES 4 ITEMS 1,331.10 210.76 1,120.34
12040286 PCD DIE 1,275.00 159.38 1,115.62
12040270 DIAMOND DIES 10 ITEMS 1,326.00 221.00 1,105.00
12040284 PCD DIE 12.70 1 ITEM 1,277.84 181.02 1,096.82
12040115 ENAMELLING MOULDS 368 ITEMS 2,380.55 1,309.30 1,071.25
12040117 MOULDS FOR MACHINE 70/130 2,300.00 1,243.92 1,056.08
12040085 ENAMELLING DIES 535 ITEMS 3,212.30 2,178.99 1,033.31
12040324 MOULDS CEANDER 1 SET 1,050.00 26.25 1,023.75
12040202
WHEELS FOR TORSION OF SE CONDUCTORS
(SOLID) 24 ITEMS 1,428.00 416.50 1,011.50
Remaining moulds (unamortised value < 1,000 Euros) 509,881.55 445,051.09 64,830.46
Total 1,104,760.77 665,352.72 439,408.05
Mechanical Instruments (1205)
Fixed
Asset
Code Fixed Asset Description
Acquisition
Value
31.12.2015
Amortised
31.12.2015
Unamortised
Value 31.12.2015
12050238 ULTRA-HIGH VOLTAGE CONTROL SYSTEM 1,658,862.24 494,505.05 1,164,357.19
12050204 NEW HV CONTROL INSTRUMENT WRM 50 766,993.20 308,191.11 458,802.09
12050251 SPECIAL BUSHING INDOOR/OUTDOOR_500KV ENIA 350,000.00 115,500.00 234,500.00
12050267 WATER TERMINATION SYSTEM 180,925.23 20,354.09 160,571.14
12050268 CHEMISTRY INSTRUMENTS AT THIVA 165,394.68 49,618.41 115,776.27
12050262 VDE MEDIUM VOLTAGE CABLES AGEING TASK 111,416.26 39,740.12 71,676.14
12050247 DIFFERENTIAL THERMAL SCANNING INSTRUMENT DSC 46,910.00 20,210.39 26,699.61
12050242 CYCLIC HEATINGS SYSTEM (CHINESE) 56,999.01 32,394.45 24,604.56
12050279 IMPULSE VOLTAGE MEASUREMENT INSTRUMENT 21,111.66 351.86 20,759.80
12050172 CONTROL CAGE 166,434.27 149,754.55 16,679.72
12050274
CONTROL INSTRUMENT FOR MEASURING FIBRE OPTIC
AMORTIZATION 15,939.90 1,195.49 14,744.41
12050278 INSULATION RESISTANCE MEASUREMENT INSTRUMENT 14,498.00 120.82 14,377.18
12050252 SOXTEC INSTRUMENT FOR MEASURING GEL CONTE 19,200.00 7,568.00 11,632.00
12050254 PORTABLE SYSTEM FOR COOL WATER FEEDING 17,100.00 5,799.75 11,300.25
12050260 SPECTROGRAPH F.I.I.R (FULGOR) 17,016.36 5,771.38 11,244.98
12050240 DEVICE FOR CABLES BENDING TEST (400KV) 23,966.00 13,620.68 10,345.32
12050273 INSTRUMENT FOR MEASURING AC RESISTANCE 12,498.88 2,499.78 9,999.10
12050231 DIGITAL SYSTEM FOR CABLES DIMENSION CHECKS 42,150.62 32,455.99 9,694.63
12050272 CLARKE-HESS PHASE VOLTAMETER MODEL2600 8,621.62 862.16 7,759.46
12050258 INTERNAL REPLACEMENT PIPE 2 ITEMS 12,749.24 5,609.68 7,139.56
12050275 Thermogravimetric analyzer TGA 7,500.00 562.50 6,937.50
12050208 MEASUREMENT OF FIBRE OPTIC OTDR 1310/1550/1625 44,790.00 38,183.47 6,606.53
Annex ΙΙΙ
Page 9 of 14
DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent
audit, accounting and consulting companies.
12050261 HIVOTEC PEELING TOOL S50 10,256.52 3,666.72 6,589.80
12050280 QUALITY CONTROL MEASUREMENT INSTRUMENTS 6,011.50 300.58 5,710.92
12050263 FLOWMETER PROMASS 83A04, DN 4 1/8" 7,728.42 2,060.91 5,667.51
12050213 THERMAL ANALYSIS INSTRUMENT TGA /DTA (MODEL6100 TG) 23,606.37 18,604.15 5,002.22
12050255 PORTABLE COOLER FOR CHECK IN THE PQ TEST 7,080.00 2,336.40 4,743.60
12050265 HERATHERM OVEN OGH60S 5,328.00 1,110.00 4,218.00
12050264
MICROHM METER FOR CONDUCTORS RESISTANCE
MEASUREMENT 5,070.00 1,098.50 3,971.50
12050257 CORONA RINGS 4 ITEMS 7,044.36 3,099.52 3,944.84
12050217 TENSION MACHINE H5K-S UNIVERVERSAL 16,496.28 13,010.96 3,485.32
12050256 DRAIN AND BENCH WITH BASIN 4,500.00 1,526.25 2,973.75
12050220 CONTROL INSTRUMENTS PEELING TOOLS 2 ITEMS 14,340.00 11,830.50 2,509.50
12050243 WATER BUSES FOR MEDIUM VOLTAGE CABLES 4,600.00 2,234.83 2,365.17
12050234 LUMP DETECTOR (ELECTRONIC INSTRUMENT) 6,912.94 4,625.89 2,287.05
12050225 OPTIC FIBRE DAMPENING INSTRUMENT OTDR 6,900.00 4,680.50 2,219.50
12050269 SOUND-OSCILLOMETER 3300 2,297.00 363.69 1,933.31
12050216 ABRASION TEST INSTRUMENT (MV SPAIN) 7,600.00 5,712.67 1,887.33
12050219 OXYGEN INDEX MEASUREMENT INSTRUMENT 9,329.60 7,525.91 1,803.69
12050266 OVEN HERATHERM OGH180S 2,109.00 439.38 1,669.62
12050259 HUMIDITY DETERMINATION DEVICE (FISHER) FULGOR 2,500.38 848.04 1,652.34
12050236 THERMAL CAMERA Ti 25 SERIES FLUKE 3,700.00 2,238.50 1,461.50
12050244 OVEN FOR TEMPERATURE SENSORS CALIBRATION 2,500.00 1,145.83 1,354.17
12050277
MEASURING DEVICE FOR ELECTRICAL QUANTITIES SENTRON
5 ITEMS 1,383.50 34.59 1,348.91
12050271 MEASURING INSTRUMENT FOR UPS BATTERIES 1,400.00 128.33 1,271.67
12050230 ULTRASONIC PD SENSOR 5,390.69 4,150.86 1,239.83
Remaining mechanical instruments (unamortised value < 1,000 Euros) 1,304,931.31 1,297,598.40 7,332.91
Total 5,230,093.04 2,735,241.64 2,494,851.40
Remaining Mechanical Equipment (1206)
Fixed
Asset
Code Fixed Asset Description
Acquisition Value
31.12.2015
Amortised
31.12.2015
Unamortised
Value 31.12.2015
12060320 H/Z 2200 KVA 358,594.20 17,189.44 341,404.76
12060276 DIRECT DOSING SYSTEM 327,969.49 65,066.34 262,903.15
12060290 CORRECTIVE Νo 3 229,132.16 71,561.58 157,570.58
12060346 CORRECTIVE 5 103,662.22 1,967.73 101,694.49
12060282 WASHING COMPLEX 120,353.50 52,955.56 67,397.94
12060323 CONTROL PANEL 82,505.50 15,126.01 67,379.49
12060215 NOKIA UPS SYSTEM 278,032.50 219,182.26 58,850.24
12060278 SPOOLING MACHINE (HENRICH DRAWING LINE) 118,705.37 64,199.82 54,505.55
12060118 TRANSFORMER UPS 500 KVA 512,543.86 461,967.01 50,576.85
12060308 RE WINDING LINE SKALTEK 47,050.89 6,469.49 40,581.40
12060232 CRANE BRIDGE 30 Τ. 93,206.15 61,516.08 31,690.07
12060286 POWER GENERATOR 59,277.47 29,342.34 29,935.13
Annex ΙΙΙ
Page 10 of 14
DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent
audit, accounting and consulting companies.
12060277 BELT LENGTH COUNTER (CORRECTIVE) 43,377.75 14,104.85 29,272.90
12060306 AIR COMPRESSOR KESER 32,983.81 4,399.20 28,584.61
12060237 TALC APPLICATOR 39,095.27 18,974.77 20,120.50
12060212 STABLE AIR COMPRESSOR WITH BELTS 7.5HP 23,938.23 4,065.52 19,872.71
12060246 CORRECTIVE 37,529.88 21,260.30 16,269.58
12060332 METALLIC WIRE BASKETS 70 ITEMS 15,820.00 527.33 15,292.67
12060305 MIXER-BATCHER MAGUIRE 460 17,277.50 3,743.46 13,534.04
12060296 STEEL WIRE UNSPOOLING BASES 18,000.00 4,992.75 13,007.25
12060344 DIAMETRAL DEVICE SIKORA 13,000.00 0.00 13,000.00
12060340 POLYETHYLENE GRINDER 13,300.00 332.50 12,967.50
12060244 BELT LENGTH COUNTER (CORRECTIVE) 1 ITEM 20,940.00 9,110.20 11,829.80
12060304 AUXILIARY EXTRUDER (ITAL) 15,000.00 3,250.00 11,750.00
12060307 FORMING TABLE ALPET 10,000.00 0.00 10,000.00
12060025 AIR COMPRESSOR 27,009.35 17,476.95 9,532.40
12060343 ELECTROMAGNETIC FLOWMETER 5 ITEMS 8,350.00 139.17 8,210.83
12060285 LUBRICANT APPLICATION SYSTEM WITHOUT SOLVENTS 14,402.00 6,336.88 8,065.12
12060318 TRANSFORMER 250 KV 9,100.00 1,213.33 7,886.67
12060294 TENSIONING SYSTEM OF OPTICAL CABLES 13,000.00 5,362.50 7,637.50
12060280 HV CABLE SPLITTER 15,000.00 7,425.00 7,575.00
12060337 PLATE EXCHANGER 7,622.02 127.03 7,494.99
12060342
CONTROL SYSTEM FOR DIAMETER MEASUREMENT
DETECTOR & ΚΑ 7,500.00 125.00 7,375.00
12060316 FLOOR SCALE 8,190.15 1,092.03 7,098.12
12060341 ENGRAVING MACHINE JH3203OX 7,317.94 304.91 7,013.03
12060238 HOT MELT GRANULATOR (GRINDER) 16,272.00 9,844.57 6,427.43
12060231 INDUSTRIAL CRANE BRIDGE Α'' 24,998.00 18,790.16 6,207.84
12060233 OVERVOLTAGE CRANE BRIDGE OF TESTS BUILDING 17,885.00 11,968.05 5,916.95
12060331 WHEELS FOR MILLIKEN CONDUCTOR 6,100.00 355.83 5,744.17
12060226 TOOL FOR PUSHING SPOOLS 3 ITEMS 17,477.19 12,496.19 4,981.00
12060310 DEEP SHAFT PUMP 12ΗΜΜ 5,972.50 1,045.19 4,927.31
12060223
WIRE DRAWING DIE WORKING
MACHINERY(MECHANICAL PROCESSING OF SCREWS) 21,188.93 16,315.46 4,873.47
12060287 PRINTER DOMINO OPAQUE A200 WHITE 8,050.25 3,320.74 4,729.51
12060248 JELLY PUMP 9,800.00 5,390.00 4,410.00
12060345 ROLLER 4,480.15 74.67 4,405.48
12060230 COMPRESSED AIR DRYING SYSTEM 19,000.00 14,630.00 4,370.00
12060300 FORK LIFT TRUCK SCALE 5,700.00 1,472.50 4,227.50
12060325 PRESSURE WELDING MACHINE 4,581.09 572.64 4,008.45
12060338 ELECTRICAL RAIL SCALE 3 TONS 4,000.00 33.33 3,966.67
12060236 BELT LENGTH COUNTER 10,024.54 6,064.85 3,959.69
12060243 PRINTER DOMINO OPAQUE A200 WHITE 8,000.75 4,180.39 3,820.36
12060298 Electrical winch, wire-3.2 tons-Monorail 5,000.00 1,333.33 3,666.67
12060317 PRESS SYSTEM FOR CABLES CONNECTIONS 4,054.48 540.60 3,513.88
12060275
WATER RECIRCULATION SYSTEM - QUALITY CONTROL
TANK 5,933.00 2,664.91 3,268.09
12060292 DOSIMETER 4,940.14 1,766.12 3,174.02
Annex ΙΙΙ
Page 11 of 14
DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent
audit, accounting and consulting companies.
12060291 DOSIMETER 4,940.00 1,766.05 3,173.95
12060293 PRINTER FOR MEASURES AND MESSAGES 4,820.00 1,678.97 3,141.03
12060219 MANUAL GENERATOR 40 KVA 231/400V 10,750.00 7,686.25 3,063.75
12060279 CUTTING MACHINE FOR CABLES 6,083.93 3,178.84 2,905.09
12060247 WHEELS POURTIER (MILLIKEN) 6,065.00 3,280.17 2,784.83
12060326 Meter counter AFL5/5E 3,007.13 325.77 2,681.36
12060324 WIRE BUTT WELDING MACHINE 3,180.00 530.00 2,650.00
12060327 SUBMARINE LIFTING PUMPS WITH CUTTERS 2 ITEMS 2,800.00 256.67 2,543.33
12060321 FIBRE OPTIC WELDING MACHINE 2,850.00 332.50 2,517.50
12060221 PRINTER DOMINO INK JET A200-WHITE 8,007.00 5,578.21 2,428.79
12060322 COOLING PUMP 2,600.00 173.33 2,426.67
12060222 LUBRICANT APPLICATION SYSTEM WITHOUT SOLVENTS 8,432.49 6,106.50 2,325.99
12060297 SUPPORT AXES AND PADS FOR HOOP MACHINE 3,240.00 945.00 2,295.00
12060302 STEEL WIRE UNSPOOLING BASES (REELS) 2,790.00 534.75 2,255.25
12060251 FULL COMPLEX OF ELECTRICAL WATER PUMP 4,400.00 2,178.00 2,222.00
12060213 DRY ICE MACHINE IB 15/80 12,233.20 10,092.38 2,140.82
12060218 LONG-TERM TESTS SECTION VDE 12,499.90 10,426.99 2,072.91
12060314 AUTOMATIC SOFTENER 2,350.00 352.50 1,997.50
12060227 NU-STAR POWER PUSHER 6,774.50 4,781.70 1,992.80
12060211 LIFTING PLATFORM GENIE DLP -35S 11,945.00 9,964.12 1,980.88
12060242 WELDING MACHINE REHM TIGER 4,194.28 2,306.85 1,887.43
12060210 MOVABLE CRANE BRIDGE OF NEW CAGE 19,620.00 17,805.15 1,814.85
12060335 INDUSTRIAL TYPE ASPIRATION DEVICE 1,850.01 77.08 1,772.93
12060329 CABLES DRYING SYSTEM 1,657.00 138.08 1,518.92
12060295 TAPING MACHINE FOR STEEL TAPES 2,000.00 513.90 1,486.10
12060303 SYSTEM FOR WELDING SMOKE FUMES EXTRACTION 1,863.00 388.13 1,474.87
12060283 WELDING DEVICE FOR BRONDEL 3,074.25 1,606.31 1,467.94
12060214 WHEEL CONSTRUCTION FOR CABALIE 2 7,760.00 6,402.00 1,358.00
12060284 HEAT EXCHANGER 2,400.00 1,078.00 1,322.00
12060289 HOT-COLD WATER WASHING MACHINE 250BAR 2,000.88 715.33 1,285.55
12060328 WINCH 500 KR WITH BUTTONHOLE 1,375.00 103.13 1,271.87
12060319 CRANE BRIDGE 500 Kgr 1,250.00 135.42 1,114.58
12060315 METAL RING (WHEEL) FOR PRINTING 1,200.00 190.00 1,010.00
Remaining mechanical equipment (unamortised value < 1,000 Euros) 1,546,884.06 1,535,274.95 11,609.11
Total 4,669,141.86 2,940,669.90 1,728,471.96
Moulds – Jigs out of Operation (1214)
Fixed Asset
Code Fixed Asset Description
Acquisition
Value
31.12.2015
Amortised
31.12.2015
Unamortised
Value 31.12.2015
12140001 EXTERNAL MOULDS OFC60 FOR SHEATHS WITH SMALL
HEAD 4,209.74 4,209.70 0.04
12140002 INTERNAL MOULDS ΝΟΚΙΑ Ν01 100.00 99.99 0.01
12140003 MOULDS COMPAX 743.40 743.39 0.01
12140004 COPPER WELDING MOULD 0.50 ΜΜ 283.78 283.77 0.01
Annex ΙΙΙ
Page 12 of 14
DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent
audit, accounting and consulting companies.
Total 5,336.92 5,336.85 0.07
Internal Transport Means (1306)
Fixed
Asset
Code Fixed Asset Description
Acquisition
Value
31.12.2015
Amortised
31.12.2015
Unamortised
Value 31.12.2015
13060001 FORK LIFT TRUCK STEINBOCK 524.46 524.45 0.01
13060002 BARROW 20.98 20.97 0.01
13060005 MANUAL LIFTING BOGIE 366.84 366.83 0.01
13060006 MANUAL LIFTING BOGIE 366.84 366.83 0.01
13060007 No.106813 ΤΟΥΟΤΑ 62-6FDF25 13,499.63 13,499.62 0.01
13060008 ELECTRICAL PALLET TRUCK 3,943.80 3,943.79 0.01
13060009 MANUAL FORK LIFT TRUCK 230.61 230.60 0.01
13060010 COLLAPSIBLE TROLLEY 60.16 60.15 0.01
13060011 FORK LIFT TRACK BALCAN 3.5 TONS 601.03 601.02 0.01
13060012 MANUAL FORK LIFT TRUCK 337.49 337.48 0.01
13060013 IRON TRANSPORT TROLLEYS 5 ITEMS 1,173.88 1,173.87 0.01
13060014 MANUAL FORK LIFT TRUCK STEINBOCK 322.82 322.81 0.01
13060015 MANUAL FORK LIFT TRUCK STEINBOCK 322.82 322.81 0.01
13060016 IRON TROLLEYS 410.86 410.85 0.01
13060017 FORK LIFT TRUCK INDOS 2,404.11 2,404.10 0.01
13060018 FORK LIFT TRUCK ELTRAK 22,167.28 22,167.26 0.02
13060022 FORK LIFT TRUCK STEINBOCK 1,842.99 1,842.98 0.01
13060023 ELECTRICAL FORK LIFT TRUCK 8,710.79 8,710.78 0.01
13060024 FORK LIFT TRUCK ELTRAK No 2 24,842.61 24,842.60 0.01
13060025 FORK LIFT TRUCK FINATRA 2,704.62 2,704.61 0.01
13060026 BICYCLES ΑΜΚΟ 2 ITEMS 178.28 178.27 0.01
13060027 BICYCLE CHAMILTON 99.48 99.47 0.01
13060028 BICYCLE EASTMAN 117.39 117.38 0.01
13060029 GENERAL USE BICYCLE 111.91 111.90 0.01
13060030 BICYCLE 88.79 88.78 0.01
13060031 No.106815 ΤΟΥΟΤΑ 62-6FDF25 2 TONS 18,444.61 18,444.60 0.01
13060033 MANUAL FORK LIFT TRUCK 352.16 352.15 0.01
13060035 FORK LIFT TRUCK 381.51 381.50 0.01
13060036 MAINTENANCE ΤΜ BICYCLE 223.83 223.81 0.02
13060037 FORK LIFT TRUCKS GALINI 3 ITEMS 177.09 177.08 0.01
13060038 TROLLEYS FOR REEL TRANSPORT Φ.230 14 ITEMS 126.22 126.21 0.01
13060039 TROLLEY 1 ITEM 22.54 22.53 0.01
13060040 TROLLEY FOR ROLL TRANSPORT 105.18 105.17 0.01
13060041 MOTOR SWEEPER 45.08 45.07 0.01
13060042 CRATES 90.88 90.87 0.01
13060043 SPECIAL TROLLEYS 18.03 18.02 0.01
13060044 HYDRAULIC FORK LIFT TRUCK 237.71 237.70 0.01
13060045 VARIOUS 1,755.03 1,755.02 0.01
Annex ΙΙΙ
Page 13 of 14
DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent
audit, accounting and consulting companies.
13060046 SMALL TROLLEY 337.49 337.48 0.01
13060047 CRANE DEMAC 4,402.05 4,402.04 0.01
13060048 ELECTRICAL FORK LIFT TRUCK ICEM CTS15 1.5 TONS 11,330.68 11,330.66 0.02
13060049 No.106817 TOYOTA 62-6FDF25 19,222.30 19,222.29 0.01
13060050 No.106811 MITSUBISHI-M413 5 TONS FD50C 34,506.82 34,506.80 0.02
13060051 ELECTRICAL PALLET TRUCK 2 TONS (SN 21561) 4,695.52 4,695.51 0.01
13060052 No.111699 ΤΟΥΟΤΑ 02-5FD20 19,955.98 19,955.97 0.01
13060053 No.111694 MITSUBISHI 5 ΤΟΝS FD50C 27,146.00 27,145.99 0.01
13060054 FORK LIFT TRUCK MITSUBISHI FD C30 4.5 TONS 1,760.82 1,760.81 0.01
13060055 MANUAL LIFTING BOGIE 528.25 528.24 0.01
13060056 No.106808 TOYOTA 3-t 62-6FDF30 24,211.30 24,211.29 0.01
13060057 No.106814 ΤΟΥΟΤΑ 2.5 TONS 62-6FDF25 21,716.80 21,716.79 0.01
13060058 BATTERY 80V 17,208.87 14,828.85 2,380.02
13060059 AIR-CONDITIONING 101,240.86 101,240.83 0.03
13060060 PALLET TRUCK 2 TONS 387.38 387.37 0.01
13060061 PALLET TRUCK BOLZONI 2 TONS 572.27 572.26 0.01
13060062 MANUAL PALLET TRUCK MITSUBISHI 440.21 440.20 0.01
13060063 MANUAL ELECTRICAL FORK LIFT TRUCK ICEM CTS 12,032.28 12,032.27 0.01
13060064 FULL MOVEMENT MOTOR 12,986.28 12,933.01 53.27
13060065 No.106810 ΤΟΥΟΤΑ 5FD60 53,528.98 53,528.97 0.01
13060068 MANUAL FORK LIFT TRUCK ICEM CTS 11,985.33 11,985.32 0.01
13060069 No.106809 ΤΟΥΟΤΑ 2.5 TONS 21,716.80 21,716.79 0.01
13060070 No.110895 KUMATSU FD 40-5 S/N 16,140.87 16,140.86 0.01
13060071 MANUAL PALLET BOLZONI TD2 440.21 440.20 0.01
13060072 ELECTRICAL FORK LIFT TRUCK ICEM 1.6 TONS (OFF BOARD) 9,020.00 9,019.99 0.01
13060073 No.111695 HYSTER 3T E3.00XM-847 30,482.94 30,482.91 0.03
13060074 No.111696 KALMAR DCD60-6t 63,096.00 63,095.99 0.01
13060075 FORK LIFT TRUCK ΤΟΥΟΤΑ 4.5 Τ 02-5FD30-61394 14,380.00 14,379.99 0.01
13060076 STOREROOM BICYCLE 149.22 149.21 0.01
13060077 MAINTENANCE BICYCLE 149.22 149.21 0.01
13060078 MANUAL PALLET BOLΖΟΝΙ TD3 495.00 494.99 0.01
13060079 BICYCLE 174.09 174.08 0.01
13060080 CONTROL BICYCLE 130.00 129.99 0.01
13060081 MANUAL PALLET TRUCK HYPMQ22DR1120 350.00 349.99 0.01
13060083 No.109922 ISUZU HANGZHOU FORKLIFT (3.5t) 22,600.00 22,599.99 0.01
13060085 TRANSPORT TROLLEY (ROUGH TROLLEY) 181.95 181.94 0.01
13060086 MANUAL PALLET TRUCK 2.2 TCBN 300.00 299.99 0.01
13060087 MANUAL PALLET TRUCK TYPE CBY 25-II 500.00 499.99 0.01
13060088 MANUAL PALLET TRUCK 2.5 TONS 500.00 435.42 64.58
13060089 No.106812 KUMATSU FD 30Τ-16R 29,999.34 22,788.09 7,211.25
13060090 No.111693-32 TONS FERARI F3212 154,157.34 132,832.25 21,325.09
13060091 No.111698 KUMATSUFD30T 3 TONS LIFTING CAPACITY 22,000.00 18,351.67 3,648.33
13060092 No.110892 ΤΟΥΟΤΑ ΄5FB25 2,500KG 10,600.00 8,842.17 1,757.83
Annex ΙΙΙ
Page 14 of 14
DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent
audit, accounting and consulting companies.
13060093 No.111700 HYSTER H3.5FT 30,954.00 24,685.82 6,268.18
13060094 No.111697 CATERPILLAR FORK LIFT TRUCK TYPE V155C 4,100.00 3,269.75 830.25
13060095 LIFTING WORKING BASKET TYPE MB -K1V 3,579.20 2,690.35 888.85
13060096 STOREROOM BICYCLE 369.74 369.73 0.01
13060097 MANUAL PALLET TRUCK HYSTER (EPLM2.5) 275.00 274.99 0.01
13060098 MANUAL PALLET TRUCK HYSTER (EPLM2.5) 275.00 274.99 0.01
13060099 ELECTRIC MANUAL PALLET TRUCK HYSTER P2.0 4,750.00 3,265.63 1,484.37
13060100 ELECTRIC MANUAL PALLET TRUCK HYSTER P2.0 4,750.00 3,265.63 1,484.37
13060101 No.113183 KALMAR 9 TONS DCE 90-61 105,252.90 70,025.24 35,227.66
13060102 No.115640 NISSAN FORKLIFT -6t H C 33,950.00 22,095.79 11,854.21
13060103
ELECTRIC PALLET TRUCK WITH PEDESTRIAN OPERATOR
S1.5C 15,969.11 9,075.77 6,893.34
13060104 TRICYCLE WITH BASKET 310.00 309.99 0.01
13060105 PALLET LIFTING TROLLEY 230.00 229.99 0.01
13060106
FORK LIFT TRUCK CATERPILLAR M100D ΤΜ1+CHARGER
Μ186/92 37,720.44 37,720.41 0.03
13060107 MANUAL PALLET TRUCK 2 TONS 175.00 77.00 98.00
13060108 MANUAL PALLET TRUCK WITH SCALE 2000kg 1,050.00 462.00 588.00
13060109 MANUAL PALLET TRUCK (R-PU) TL 25 175.00 174.99 0.01
13060110 TRICYCLE (FOR STOREROOM) 390.00 390.00 0.00
13060111 TRICYCLE 390.00 390.00 0.00
13060112 PALLET TRUCK FOR BASKETS TRANSPORT 2,207.00 22.07 2,184.93
13060113 PALLET TRUCK FOR BASKETS TRANSPORT 3,104.00 31.04 3,072.96
13060114 PALLET TRUCK WITH 2 TONS CAPACITY 215.00 53.75 161.25
Total 1,135,381.18 1,027,903.53 107,477.65
Loan Interest during the Construction Period (1618)
Fixed
Asset
Code Fixed Asset Description
Acquisition
Value
31.12.2015
Amortised
31.12.2015
Unamortised Value
31.12.2015
16180011 CONSTRUCTION PERIOD INTEREST 2009 IRON DRUMS 5,008.74 3,305.76 1,702.98
16180017 CONSTRUCTION PERIOD INTEREST 2009 HV CONTROL SYSTEM 21,622.26 6,506.72 15,115.54
Total 26,631.00 9,812.48 16,818.52
Annex ΙΙΙ
Page 15 of 14
DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors,
full member of the network of DFK International, a cooperative of independent
audit, accounting and consulting companies.
DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors, full member of the network of DFK International, a cooperative of independent
audit, accounting and consulting companies.
Annex ΙV
LETTERS OF GUARANTEE
DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors, full member of the network of DFK International, a cooperative of independent
audit, accounting and consulting companies.
Letters of guarantee LETTER OF
GUARANTEE
No. CATEGORY CURRENCY AMOUNT ISSUE DATE
EXPIRY
DATE BENEFICIARY BANK
0400689041 B' USD 122,400.00 31/5/1994 02/11/1994 DANWAY NBG
0400691623 B' EUR 70,915.47 27/02/1995 30/06/1996
SOCIETE TUNISIENNE DE L'
ELECTRICITE NBG
0400692417 B' EUR 53,670.74 09/05/1995 30/12/1995
SOCIETE TUNISIENNE DE L'
ELECTRICITE NBG
0400697591 A' EUR 17,985.78 18/09/1996 08/01/1997
SOCIETE TUNISIENNE DE L'
ELECTRICITE NBG
0400909920 B' EUR 89,536.51 27/12/1996 03/08/1998
SOCIETE TUNISIENNE DE L'
ELECTRICITE NBG
0400911879 A' USD 33,995.00 17/11/1997 04/06/1998 JORDANIAN ELECTRIC NBG
0400915785 B' USD 8,878.00 29/04/1999 15/01/2001 MEW DUBAI NBG
400916080 B' EUR 74,783.10 20/05/1999 04/01/2001
SOCIETE TUNISIENNE DE L'
ELECTRICITE NBG
0401444964 A' EUR 7,320.00 22/01/2002 24/04/2002 ETHIOPIAN PLASTIC S.CO NBG
0402471280 B' EUR 76,350.00 17/01/2002 10/02/2003
SOCIETE TUNISIENNE DE L'
ELECTRICITE NBG
0401495917 A' USD 46,392.00 16/12/2003 20/02/2004 GAZA ELECTRICITY NBG
0406304362 B' EUR 20,160.00 16/01/2004 29/06/2006
DUBAI ELECTR.& WATER
AUTHORITY NBG
0407002521 B' EUR 29,500.00 01/04/2004 31/12/9999
SOCIETE TUNISIENNE DE L'
ELECTRICITE NBG
0407006322 A' USD 60,150.00 25/06/2004 04/11/2004
MINISTRY OF ELECTRICITY
AND WATER NBG
0407029411 A' EUR 9,000.00 03/02/2006 08/07/2006
DUBAI ELECTR.& WATER
AUTHORITY NBG
0407060548 B' EUR 154,650.00 07/11/2007 15/12/2009 HYUNDAI ENGINEERING NBG
974/7111061 B' EUR 33,550.45 30/08/2012 20/06/2015 SANO EPC EOOD (BULGARIA) NBG
974/7111070 B' EUR 41,142.90 30/08/2012 20/06/2015 SANO EPC EOOD (BULGARIA) NBG
974712723-5 B' EUR 671,236.80 11/06/2013 20/01/2016
ARAB AFRICAN BANK-
COUNTER GUARANTEE
FULGOR JAZEERA NBG
974715444-5 B' EUR 85,346.40 19/08/2014 31/12/2015
ARAB AFRICAN BANK-
COUNTER GUARANTEE
FULGOR EMIRATES NBG
9747171749 B' EUR 16,245.75 17/04/2015 31/12/9999
HEDNO (Hellenic Electricity
Distribution Network Operator) NBG
9747172125 B' EUR 3,000.00 22/04/2015 06/05/2016 CY.T.A NBG
9747172192 B' EUR 173,806.76 23/04/2015 28/02/2016 ADESA NOVA ENERGIA NBG
9747173369 B' EUR 18,615.42 14/05/2015 28/03/2018
CENTAUR ELEKTRO MECH.-
COUNTER GUARANTEE
FULGOR NBG
9747173695 B' EUR 10,295.94 19/05/2015 30/06/2017
ENERGOINVEST DD
SARAJEVO NBG
9747174110 A' EUR 38,300.00 26/05/2015 25/05/2016
IPTO (INDEPENDENT POWER
TRANSMISSION OPERATOR) NBG
9747180454 B' EUR 31,906.55 15/09/2015 30/06/2017
ENERGOINVEST DD
SARAJEVO NBG
9747184166 A' EUR 19,946.80 29/10/2015 02/06/2016
CEZ DISTRIBUTION
BULGARIA NBG
9747184174 A' EUR 21,992.63 29/10/2015 02/06/2016
CEZ DISTRIBUTION
BULGARIA NBG
9747186746 A' USD 420,000.00 29/10/2015 02/06/2016
CEZ DISTRIBUTION
BULGARIA NBG
GRB040556 B' EUR 151,065.00 13/12/2011 31/12/9999 ENEL DISTRIBUZIONE ALPHA
GRB040557 B' EUR 52,000.00 13/12/2011 31/12/9999 ENEL DISTRIBUZIONE ALPHA
GRB043301 B' EUR 2,000,000.00 31/05/2012 30/05/2016
ELECTRICITY AUTHORITY OF
CYPRUS ALPHA
GRB045274 B' EUR 846,778.30 06/11/2012 31/12/9999 IPTO ALPHA
GRB045317 C' EUR 206,528.99 08/11/2012 31/12/9999 IPTO ALPHA
GRH099137 C' EUR 3,127,024.23 21/12/2012 31/12/9999 MINISTRY OF DEVELOPMENT ALPHA
GRB046292 B' EUR 10,820.00 21/01/2013 31/12/9999 IPTO ALPHA
GRB046364 B' EUR 85,900.00 28/01/2013 31/12/9999 HEDNO ALPHA
GRB046654 B' EUR 10,878.49 21/02/2013 30/12/2015 ENERGOINVEST ALPHA
GRB046655 B' EUR 7,380.15 21/02/2013 30/12/2015 ENERGOINVEST ALPHA
GRB047050 B' EUR 299,342.74 21/03/2013 31/12/9999 HEDNO ALPHA
GRB047144 B' EUR 87,811.08 28/03/2013 31/12/9999 IPTO ALPHA
GRL000673 D' EUR 8,500.00 01/05/2013 07/10/2013
COM.BANK OF ETHIOPIA
(COUNTER-GUARANTEE) ALPHA
GRB047998 B' EUR 1,866,900.83 10/06/2013 31/12/9999 HEDNO ALPHA
GRH103412 B' EUR 10,000.00 11/06/2013 11/06/2016
KORDELIO-EVOSMOS
MUNICIPALITY ALPHA
GRB048593 B' EUR 26,432.00 29/07/2013 31/12/9999 IPTO ALPHA
Annex ΙV
Page 1/3
DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors, full member of the network of DFK International, a cooperative of independent
audit, accounting and consulting companies.
GRH105170 B' EUR 1,000.00
6/9/2013
06/09/2016
MUNICIPALITY OF
THESSALONICA ALPHA
GRH106061 B' EUR 10,000.00 22/10/2013 17/10/2015
REGION OF ATTICA (PALLINI-
GERAKAS High Voltage Centre) ALPHA
GRH107227 C' EUR 2,090,000.00 18/12/2013 31/12/9999 MINISTRY OF DEVELOPMENT ALPHA
GRB050292 B' EUR 58,230.00 23/01/2014 31/12/9999 IPTO ALPHA
GRB050650 C' EUR 68,412.32 26/02/2014 31/12/9999 IPTO ALPHA
GRA019205 A' EUR 205,800.00 31/03/2014 31/12/9999 HEDNO ALPHA
GRB051983 B' EUR 12,970.00 16/04/2014 31/12/9999 IPTO ALPHA
GRH115507 B' EUR 8,000.00 24/06/2014 31/12/9999 ELEFSINA CUSTOMS OFFICE ALPHA
GRB053146 B' EUR 123,956.41 22/07/2014 31/12/9999 HEDNO ALPHA
GRB053395 B' EUR 9,305,549.91 07/08/2014 31/12/9999 IPTO ALPHA
GRB053864 B' EUR 13,475.00 06/10/2014 31/12/9999 IPTO ALPHA
GRB054496 B' EUR 255,321.50 01/12/2014 31/12/9999 HTO ALPHA
GRH118642 B' EUR 10,000.00 03/12/2014 03/12/2015
NEAPOLI-SYKEON
MUNICIPALITY ALPHA
GRB054608 B' EUR 17,470.00 09/12/2014 31/12/9999 IPTO ALPHA
GRB054676 B' USD 43,825.00 12/12/2014 10/12/2016
HUNDAI HEAVY INDUSTR.
CO LTD ALPHA
GRB055240 C' EUR 6,352,243.90 03/02/2015 31/12/9999 IPTO ALPHA
GRH120779 B' EUR 5,000.00 20/03/2015 20/09/2016
MUNICIPALITY OF
THESSALONICA ALPHA
GRA021128 A' EUR 4,800.00 14/04/2015 31/12/9999 PPC ALPHA
GRA021321 A' EUR 1,550,000.00 02/06/2015 02/12/2016 HEDNO ALPHA
GRA021468 A' EUR 200,000.00 24/07/2015 30/09/2015 HTO ALPHA
GRB056900 B' EUR 2,555.00 10/08/2015 31/12/9999 HEDNO ALPHA
GRB056931 B' EUR 1,648.36 10/08/2015 31/12/9999 HEDNO ALPHA
GRA021594 A' EUR 400,000.00 07/09/2015 31/12/9999 HTO ALPHA
2850119699 B' EUR 34,071.00 20/12/2013 20/12/2016 METKA SA PIRAEUS
2850120446 B' EUR 115,577.00 19/03/2014 19/03/2016 METKA SA PIRAEUS
2850120447 B' EUR 98,741.00 19/03/2014 19/03/2016 METKA SA PIRAEUS
2850120524 B' EUR 50,909.00 28/03/2014 27/03/2016 METKA SA PIRAEUS
2850120129 B' EUR 9,365.45 01/04/2014 18/04/2016
INTERENERGO HANDELS
GmbH PIRAEUS
2850124125 B' EUR 2,287,521.04 15/01/2015 HEDNO S.A. PIRAEUS
2850125656 B' EUR 26,643.00 09/06/2015 09/06/2016 HTO S.A. PIRAEUS
2850125658 B' EUR 17,939.00 09/06/2015 09/06/2016 HTO S.A. PIRAEUS
2850126393 B' EUR 580,000.00 04/09/2015 31/08/2017
ELECTR. AUTHORITY of
CYPRUS PIRAEUS
2850126394 C' EUR 580,602.57 04/09/2015 30/04/2016
ELECTR. AUTHORITY of
CYPRUS PIRAEUS
2850126438 A' EUR 73,000.00 11/09/2015 31/12/9999 IPTO S.A. PIRAEUS
2850126442 A' EUR 5,000.00 11/09/2015 11/03/2017 HEDNO S.A. PIRAEUS
2850126507 B' EUR 72,669.20 17/09/2015 28/08/2016 POWER PROJECTS PIRAEUS
2850126733 B' EUR 323,484.50 13/10/2015 31/12/9999 IPTO S.A. PIRAEUS
2850569269 B' EUR 920.00 13/10/2015 31/12/9999
NAVY, NAVAL YARD OF
CRETE PIRAEUS
2850126782 B' EUR 33,230.00 19/10/2015 31/12/9999 IPTO S.A. PIRAEUS
2850126888 B' EUR 3,500.00 29/10/2015 26/01/2016 PIRAEUS BANK EGYPT PIRAEUS
2850127328 B' EUR 180,000.00 10/12/2016 31/12/2016 EL.TECH.ANEMOS PIRAEUS
2850127329 C' EUR 230,000.00 10/12/2016 31/12/2016 EL.TECH.ANEMOS PIRAEUS
2850127406 B' EUR 440,387.00 16/12/2016 30/03/2019 HTO S.A. PIRAEUS
2118856124
(GRH 111628) C' EUR 900,000.00 11/07/2013 10/07/2016 RAVAGO EMPORIKI
2119551924
(GRH112548) B' EUR 161,800.00 06/11/2013 31/12/9999 HTO COMMERCIAL
2119628124
(GRH111400) B' EUR 222,792.00 19/11/2013 31/12/9999 IPTO EMPORIKI
2119676224
(GRH111459) B' EUR 353,841.66 27/11/2013 31/12/9999 IPTO EMPORIKI
GRB056095 C' EUR 600,000.00 18/05/2015 14/04/2016 INEOS SALES BELGIUM EMPORIKI
9004040032 B' EUR 420,575.30 09/12/2011 31/12/9999 IPTO S.A. EUROBANK
9004040401 B' EUR 114,300.00 27/01/2012 31/12/9999 PPC EUROBANK
9004041465 B' EUR 403,475.00 19/07/2012 31/12/9999 IPTO S.A. EUROBANK
9004047235 B' EUR 53,318.00 22/06/2015 07/12/2015 ENEMALTA CORPORATION EUROBANK
9004047586 A' EUR 6,800.00 09/11/2015 17/02/2016 ENEMALTA CORPORATION EUROBANK
Annex ΙV
Page 2/3
DFK PD AUDIT S.A. Societe Anonyme of Certified Public Accountants and Business Advisors, full member of the network of DFK International, a cooperative of independent
audit, accounting and consulting companies.
Categories of letters of guarantee
A: Participation in tender
Β: Performance bond
C: Payment or advance
D: Security of liabilities
Annex ΙV
Page 3/3