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1998 BALANCE SHEET
ATTICA ENTERPRISES S.A. -
GROUP OF COMPANIES
SEVENTH CONSOLIDATED BALANCE SHEET
AS AT 31st DECEMBER 1998
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Cost
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Depreciation
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Net Book Value
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ASSETS
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IN GRD
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IN EURO
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ESTABLISHMENT EXPENSES
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Establishment expenses
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2,696,827
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-
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2,696,827
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8,172
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Exchange differences on currency
loans
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1,007,689,777
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111,965,530
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895,724,247
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2,714,234
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Various establishment expenses
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628,280,188
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305,969,014
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322,311,174
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976,671
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1,638,666,792
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417,934,544
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1,220,732,248
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3,699,077
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FIXED ASSETS
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Intangible assets
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Registered trade marks
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24,598,797
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15,389,528
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9,209,269
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27,906
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24,598,797
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15,389,528
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9,209,269
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27,906<
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Tangible assets
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Vessels
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88,763,427,762
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2,769,096,825
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85,994,330,937
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260,580,985
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Vessels under construction
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7,798,507,106
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7,798,507,106
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23,631,124
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Buildings & technical
installations
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60,814,989
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18,784,418
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42,030,571
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127,362
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Motor vehicles
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4,040,000
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2,458,282
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1,581,718
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4,793
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Furniture and other equipment
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326,589,695
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186,267,721
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140,321,974
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425,205
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96,953,379,552
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2,976,607,246
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93,976,772,306
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284,769,469
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96,977,978,349
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2,991,996,774
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93,985,981,575
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284,797,375
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Long term receivables
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2,107,200
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6,385
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2,107,200
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6,385
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Total fixed assets
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93,988,088,775
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284,803,760
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CURRENT ASSETS
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Inventories
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257,805,361
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6,385
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Trade receivables
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2,693,760,059
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8,162,662
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Bills receivables
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Post dated cheques
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745,159,173
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2,257,990
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Due from subsidiaries
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Bad and doubtful debts
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114,973,746
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Less: Provisions
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114,973,746
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-
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Sundry debtors
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621,950,603
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1,884,642
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Sundry advances
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8,797,150
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26,657
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4,327,472,346
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13,113,156
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Securities
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Shares
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306,715,623
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929,413
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Sundry securities
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124,000,000
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375,746
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430,715,623
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1,305,159
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Cash and banks
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Cash
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10,884,433
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32,982
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Banks
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24,580,650,183
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74,484,562
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24,591,534,616
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74,517,544
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Total current assets
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29,349,722,585
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88,935,859
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PREPAYMENTS AND ACCRUED INCOME
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Prepaid expenses
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146,497,720
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443,919
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Income receivable
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80,530,739
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244,025
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Other deferred amounts
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-
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-
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227,028,459
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687,944
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TOTAL ASSETS
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124,785,572,067
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378,126,640
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SHAREHOLDERS' EQUITY AND RESERVES
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Share capital
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Paid up capital (104,173,680 shares
at GRD 100)
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7,568,640,000
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22,934,578
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Share premium account
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34,426,800,000
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104,320,475
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Revaluation reserve
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166,290
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504
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Reserves
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Statutory reserve
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508,815,974
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1,541,820
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Extraordinary reserve
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62,242,989
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188,609
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Special tax free reserve
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12,361,836,049
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37,458,974
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Total reserves
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12,932,895,012
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39,189,403
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Retained earnings
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2,178,235,306
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6,600,513
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Total shareholders' equity and
reserves
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57,106,736,608
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173,045,473
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PROVISIONS
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Provision for termination indemnities
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37,052,200
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112,276
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Sundry provisions
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1,426,508,007
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4,322,621
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Total provisions
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1,463,560,207
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4,434,897
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LIABILITIES
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Long term liabilities
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Bank loans
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55,482,967,402
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168,125,110
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55,482,967,402
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168,125,110
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Current liabilities
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Suppliers
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916,657,503
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2,777,666
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Current portion of long term loans
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4,799,135,712
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14,542,395
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Taxes and other dues
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1,088,389,487
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3,298,050
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Social security contributions
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69,627,762
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210,987
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Dividends payable
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2,271,281,305
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6,882,462
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Sundry creditors
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117,548,880
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356,198
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Total current liabilities
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9,262,640,649
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28,067,758
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Total liabilities
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64,745,608,051
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196,192,868
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DEFERRED INCOME AND ACCRUED EXPENSES
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Deferred income
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129,735,240
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393,125
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Accrued expenses
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870,897,227
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2,639,003
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Other accruals
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469,034,734
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1,421,274
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1,469,667,201
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4,453,402
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TOTAL EQUITY AND LIABILITIES
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124,785,572,067
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378,126,640
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En
Gr
