KATHIMERINI S.A. PUBLICATIONS MASS MEDIA

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1 S.A. PUBLICATIONS MASS MEDIA PRESENTATION OF FINANCIAL FIGURES FOR FISCAL YEAR 29 MAY 21

2 DISCLAIMER The company created this presentation with the aim to inform customers and shareholders. This presentation serves only informative purposes and it does not suggest shareholders to buy, sell or maintain shares of the company. Investors should decide upon their investments based on their own investing preferences, financial status and advice from those registered investment advisors, who they consider appropriate. Any reproduction, use or distribution of this product, without the written approval of the company is strictly forbidden. Financial statements of the Group can be found at the company s s site (Company Profile). 2

3 S.A. BRIEF PRESENTATION The company was founded in The company is listed on the Athens Stock Exchange since 2 under the code name KATHI. The company issues the newspaper I. The newspaper holds the first place regarding circulation in the morning press with 27.4 issues and the fourth place in the Sunday press with more than issues sold. Parent company occupies 42 employees and the group occupies 55 employees The company participates in the following companies: - ARGONAFTIS E.E.P.N. (holds 1%) This participation regarded an investment of 23.7 million dollars at year 22. Until it has produced dividends of 4.7 million dollars. The company today owns the tank ship OCEANIS. Its cash at hand come up to million Euros, in addition to invested capitals of 24.1 million Euros, which derived from the goodwill of the three sold ships., Currying into effect, its fleet renewal program, the company ordered at April 21st, 21 two oil tankers carrying crude oil, dead weight of 115. tones. The acquisition cost will be amounted to 18.9 million USD, financed 4% by company s funds and 6% by bank loans. 3

4 S.A. BRIEF PRESENTATION - Ι.Η.Τ. S.A. (holds 5%) The company issues IHT and the English edition of. - MELODIA S.A. (holds 1%) The company owns the Radio Station MELODIA 99.2 FM - ATE ERGON S.A. (holds 1%) The company owns the building in Neo Faliro, total surface of 9. m 2 where all the companies are located, as well as a building of 4,5 m 2 in Koropi Attica used by S.A. for storing paper. - ENTYPES & DIKTYAKES EKDOSEIS S.A. (holds 1%) The company is responsible for periodical publications and for the site of the newspaper. - EXEREVNITIS EXPLORER S.A. (holds 82,65%) The company s activity sector is publications. 4

S.A. BRIEF PRESENTATION - MAISON EKDOTIKI S.A. (holds 5%) The company issues MAISON DECORATION magazine, which is published as an insert with the Sunday edition of.

(holds 24,8%) It is the distribution agency of the daily and periodical press. - KAT

5 S.A. BRIEF PRESENTATION - MAISON EKDOTIKI S.A. (holds 5%) The company issues MAISON DECORATION magazine, which is published as an insert with the Sunday edition of. - KYPROY LTD (holds 5%) The company issues and circulates newspaper in Cyprus each Sunday. - EUROPE S.Α. (holds 24,8%) It is the distribution agency of the daily and periodical press. - KATASTIMATA TYPOU IN THE A.I.A. (holds 25%) The company owns the Press Point bookstores in the Athens International Airport. - APOSTOLI S.A. (holds 2%) The company is activated in the distribution sector. - ARKTOS EKDOTIKI LTD (holds 3%) The company issues the magazine ELLINIKO PANORAMA. 5

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7 FINANCIAL FIGURES THE GROUP Amounts in million Variation Sales 9,73 18,55-16,4% Gross profit 24,65 34,42-28,4% Gross margin 27,17% 31,71% -14,3% Profits before tax, borrowings, investments and depreciation results 3,27 6,5-46,% Profits before tax, borrowings and investment results -1,14,68-267,6% Profit before taxes -2, -6,87-7,9% Taxes -,37,43-186,% Profit after taxes -2,37-6,44-63,2% Profit per share -,13 -,38-65,8% 7

8 FINANCIAL FIGURES THE COMPANY Amounts in million Variation Sales 76,5 92,6-17,4% Gross profit 19,48 28,38-31,4% Gross margin 25,61% 3,83% -16,9% Profits before tax, borrowings, investments and depreciation results -,86,98-187,8% Profits before tax, borrowings and investment results -3,16-1,5 11,7% Profit before taxes -4,17 1,36-46,6% Taxes -,26,56-146,4% Profit after taxes -4,43 1,92-33,7% Profit per share -,26,11-336,4% 8

9 FINANCIAL FIGURES Group Sales Company Sales 11 18, , , , Group Gross Profit Company Gross Profit 4 34, , , , Group Gross Margin Company Gross Margin 33% 32% 31,71% 32% 3,83% 31% 3% 3% 29% 28% 27% 27,17% 28% 26% 24% 25,61% 26% 25% 22% 24% 2% 9

10 FINANCIAL FIGURES Group EBITDA Company EBITDA 2 1, , ,27 -,86 Group EBIT -2 6 Company EBIT 2 4, ,5-1, ,16-2 Group profits after taxes 4 Company profits after taxes 2 1, , , ,43 Dividends from a subsidiary company amounting to 3 million Euros are included in the profits of year 28. 1

11 EQUITY & LIABILITIES 13 Total Group Equity 128,74 Total Company Equity , , , Group's Financial Structure Company's Financial Structure 28 63,65% 8,7% 28,28% 28 61,85% 9,94% 28,21% 29 58,3% 1,55% 31,16% 29 58,46% 12,26% 29,28% Total Equity Total Long-term Liabilities Total Short-term Liabilities Total Equity Total Long-term Liabilities Total Short-term Liabilities 11

12 TURNOVER - ANALYSIS Group Sales Analysis , , ,31 68, Profit from publishing new spapers 7,35 1,49 Books - offer 13,4 16,88 Profit from printing 2,15 2,57 Radio activitites 7,35 7, Shipping transports 3,16 3,35 Other profit Total sales 12

13 TURNOVER - ANALYSIS Group Sales Structure 29 Group Sales Structure 28 Radio activitites 2% Profit from printing 15% Shipping transports 8% Books - offer 8% Other profit 3% Profit f rom publishing new spapers 64% Shipping transports Radio activitites 6% 2% Profit from printing 16% Books - offer 1% Other profit 3% Profit f rom publishing new spapers 63% 13

14 TURNOVER - ANALYSIS Company Sales Analysis ,5 92, ,1 62, Profit from publishing newspapers 5,14 9,51 Profit from books offers 15,54 18,95 Profit from printing,27,64 Other profit Total sales 14

15 TURNOVER - ANALYSIS Company Sales Structure 29 Company Sales Structure 28 Other profit % Other profit 1% Profit from printing 2% Profit from printing 21% Profit from books offers 7% Profit from publishing new spapers 73% Profit from books offers 1% Profit from publishing new spapers 68% 15

NEWSPAPER CIRCULATION Newspaper Average daily circulation in 29 Athens Pireaus % Provinces % Total of Greece % 18.186 61,32% 9.24 52,2% 27.39 57,92% 5.631 18,99% 4.525 25,67% 1.156 21,48% 3.

16 NEWSPAPER CIRCULATION Newspaper Average daily circulation in 29 Athens Pireaus % Provinces % Total of Greece % ,32% ,2% ,92% ,99% ,67% ,48% ,89% ,47% ,97% TRAFFIC NEWSPAPER,%,%,% I AVGI ,54% 79 4,2% ,35% I NIKI TIS DIMOKRATIAS 722 2,43% 92,52% 814 1,72% O LOGOS 248,84% 2,11% 268,57% TOTAL % % ,% Newspaper Average daily circulation in 28 Athens Pireaus % Provinces % Total of Greece % ,6% ,69% ,39% ,14% ,67% ,47% ,8% ,58% ,45% TRAFFIC NEWSPAPER 869 2,52% 677 3,5% ,73% I AVGI ,59% 6 2,71% ,25% I NIKI TIS DIMOKRATIAS 624 1,81% 42,19% 666 1,18% O LOGOS 276,8% 25,11% 31,53% TOTAL % % ,% 16

17 NEWSPAPER CIRCULATION Average Daily Circulation 17 I AVGI TRAFFIC NEWSPAPER I AVGI I NIKI TIS DIMOKRATIAS O LOGOS TRAFFIC NEWSPAPER I AVGI I NIKI TIS DIMOKRATIAS O LOGOS TRAFFIC NEWSPAPER I AVGI I NIKI TIS DIMOKRATIAS O LOGOS TRAFFIC NEWSPAPER I AVGI I NIKI TIS DIMOKRATIAS O LOGOS TRAFFIC NEWSPAPER I AVGI I NIKI TIS DIMOKRATIAS O LOGOS TRAFFIC NEWSPAPER I NIKI TIS DIMOKRATIAS O LOGOS Athens - Pireaus Provinces Total of Greece

18 NEWSPAPER CIRCULATION Newspaper Average Sunday Circulation in 29 Athens Pireaus % Provinces % Total of Greece % PROTO THEMA ,8% ,62% ,42% ,7% ,8% ,92% ELEFTHEROTYPIA ,51% ,99% ,79% ,42% ,88% ,81% ETHNOS ,13% ,7% ,25% REAL NEWS ,97% ,47% ,26% VETO ,71% ,52% ,18% TYPOS TIS KIRIAKIS ,89% ,15% ,4% ,23% ,4% ,33% OTHER SUNDAY NEWSP ,27% ,8% ,1% TOTAL % % % Newspaper Average Sunday Circulation in 28 Athens Pireaus % Provinces % Total of Greece % PROTO THEMA ,41% ,43% ,11% ,81% ,24% ,5% ELEFTHEROTYPIA ,79% ,46% ,17% ,25% ,32% ,4% ETHNOS ,12% ,6% ,21% REAL NEWS ,76% ,61% ,55% TYPOS TIS KIRIAKIS ,6% ,95% ,13% ,89% ,3% ,12% OTHER SUNDAY NEWSP ,92% ,62% ,62% TOTAL % % % 18

19 NEWSPAPER CIRCULATION Average Sunday Circulation 19 VETO VETO VETO ETHNOS REAL NEWS VETO TYPOS TIS KIRIAKIS ETHNOS REAL NEWS ELEFTHEROTYPIA PROTO THEMA TYPOS TIS KIRIAKIS ELEFTHEROTYPIA ETHNOS REAL NEWS VETO TYPOS TIS KIRIAKIS ETHNOS REAL NEWS ELEFTHEROTYPIA PROTO THEMA OTHER SUNDAY NEWSP. OTHER SUNDAY NEWSP. OTHER SUNDAY NEWSP. PROTO THEMA ELEFTHEROTYPIA TYPOS TIS KIRIAKIS OTHER SUNDAY NEWSP. VETO PROTO THEMA ETHNOS REAL NEWS TYPOS TIS KIRIAKIS ETHNOS REAL NEWS ELEFTHEROTYPIA OTHER SUNDAY NEWSP. PROTO THEMA ELEFTHEROTYPIA PROTO THEMA TYPOS TIS KIRIAKIS OTHER SUNDAY NEWSP Athens - Pireaus Provinces Total of Greece

20 INVESTMENTS The company carries into effect an investment program amounting to 2.1 million, under the provisions of Law No 3299/24, funded by the Greek State by 35%. This program mainly concerns the acquisition of a printing machine ne, which will improve the printing methods of the newspaper and will l increase revenues from printing for third parties. It should be noted that the printing unit of the company, which is located in Koropi,, Athens and operates since 1998, prints newspapers, magazines and advertising publications for third parties. The company will have significant profits from the exploitation of this printing time that is estimated at 5% of the unit s s printing capabilities, which will improve its financial figures. The remaining 5% covers printing needs of our r own products. We present below a table with the course of the company s s profits regarding printing for third parties. Profits from printing for third parties 25 21,48 Amounts in million ,8 6,26 6,85 1,1 13,93 15,2 18,46 19,42 18,95 15, Years 2

21 GROUP BALANCE SHEET ASSETS 29 % 28 Non-Current Assets Tangible Assets 78,13-2,18% 97,88 Intangible Assets 3,33-8,52% 3,64 Other Investments 1,16 11,91%,55 Deferred Tax Receivables,27-6,9%,29 Other Long-term receivables,21 1,53%,19 Total 83,1-18,97% 12,55 Current Assets Inventories 14,15-11,67% 16,2 Trade and Other Receivables 33,15,79% 32,89 Other Receivables 4,45 26,9% 1,45 Other Current Assets 1,18 14,56% 1,3 Financial assets at fair value through profit or loss 28,58 536,53% 4,49 Cash at Hand and Cash Equivalent 26,52-39,51% 43,84 Total 18,3 8,33% 99,72 Total Assets 191,13-5,51% 22,27 Equity 29 % 28 Share Capital 1,2,% 1,2 Share Premium 65,78,% 65,78 Fair Value Reserves -1,% 11,84 Other Reserves 1,68 86,39% 5,73 Reserves from conversion of balance sheet -24,3 16,27% -2,9 Results carried forward 49,3-12,49% 56,3 Equity attributable to parent's Shareholders 111,39-13,44% 128,68 Minority Rights,3-5,%,6 Total Equity 111,42-13,45% 128,74 Long-term Liabilities Long-term Loan Liabilities 1,6-5,% 3,2 Deferred Tax Liabilities 3,95 8,22% 3,65 Liabilities for pension plans 5,34 3,89% 5,14 Other Long-term Liabilities 9,27 113,59% 4,34 Long-term Provisions Total Long-term Liabilities 2,16 23,45% 16,33 Short-term Liabilities Trade and other Liabilities 17,92-21,88% 22,94 Current Tax Laibilities 1,12-1,75% 1,14 Short-term Loan Liabilities 33,5 18,33% 28,31 Derivatives 4,52 7,57% 2,65 Other short-term Liabilities 2,14 19,55% 1,79 Short-term Provisions,35-5,41%,37 Total short-term Liabilities 59,55 4,11% 57,2 Total Liabilities 79,71 8,4% 73,53 Total Equity and Liabilities 191,13-5,51% 22,27 21

22 COMPANY BALANCE SHEET ASSETS 29 % 28 Non-Current Assets Tangible Assets 5,98-3,7% 52,94 Intangible Assets 3,3-8,8% 3,59 Investments in Affiliated Companies 42,71,% 42,71 Other Investments 1,74 79,38%,97 Other Long-term receivables,15 7,14%,14 Total 98,88-1,46% 1,35 Current Assets Inventories 12,59-12,45% 14,38 Trade and Other Receivables 3,4 6,22% 28,28 Other Receivables 9,49 56,9% 6,8 Other Current Assets 5,6-3,11% 5,78 Financial assets at fair value through profit or loss,4-2,%,5 Cash at Hand and Cash Equivalent 1,14-17,99% 1,39 Total 58,9 5,25% 55,96 Total Assets 157,78,94% 156,31 29 % 28 Equity Share Capital 1,2,% 1,2 Share Premium 65,78,% 65,78 Other Reserves 8,2 148,3% 3,23 Results carried forward 8,24-52,83% 17,47 Equity attributable to parent's Shareholders 92,24-4,59% 96,68 Total Equity 92,24-4,59% 96,68 Long-term Liabilities Long-term Loan Liabilities 1,6-5,% 3,2 Deferred Tax Liabilities 3,72 7,51% 3,46 Liabilities for pension plans 4,76 4,62% 4,55 Other Long-term Liabilities 9,26 114,35% 4,32 Total Long-term Liabilities 19,34 24,53% 15,53 Short-term Liabilities Trade and other Liabilities 15,69-21,86% 2,8 Current Tax Laibilities,85 16,44%,73 Short-term Loan Liabilities 27,59 27,67% 21,61 Other short-term Liabilities 1,79 27,86% 1,4 Short-term Provisions,28,%,28 Total short-term Liabilities 46,2 4,76% 44,1 Total Liabilities 65,54 9,91% 59,63 Total Equity and Liabilities 157,78,94% 156,31 22

KATHIMERINI S.A. PUBLICATIONS MASS MEDIA. Index. Α. Statements of the members of the Board of Directors 3. Β. Independent Auditor s Report 4

KATHIMERINI S.A. PUBLICATIONS MASS MEDIA. Index. Α. Statements of the members of the Board of Directors 3. Β. Independent Auditor s Report 4 KATHIIMERIINII S..A.. PUBLIICATIIONS MASS MEDIIA ANNUAL FIINANCIIAL REPORT st ((1 st st January 31 st December 2011)) ((ΙΙn accordance wiitth Arttiiclle 4 off Law 3556//2007)) March 2012 Index Page Α.