VIS Container Manufacturing : Annual Bulleting of the Fiscal Year January 1, 2015 - December 31, 2015

Στοιχεία και πληροφορίες των οικονομικών καταστάσεων που δημοσιεύονται σύμφωνα με τις διατάξεις του π.δ. 360/1985(ΦΕΚ Α/129/9.7.1985). ANNUAL BULLETIN for the fiscal year from January 1ST2015 to December 31rd2015 According to the article 4 of Law 3556/2007

VIS CONTAINERS MANUFACTURING CO. LTD

General Commercial Registry Number: 122838007000

SERIAL NUMBER: 6055/06/B/86/133

G. GENNIMATAS AVENUE,190 18 MAGOULA, ATTICA Tel.:210 6161300, Fax: 210 6161399 e-mail:info@vis.gr

CONTENTS

1. Statements of the Representatives of the Board of Directors3

2. Independent Auditor's Report 4

3. Report of the Board of Director's of "VIS CONTAINERS MANUFACTURING CO LTD" fiscal year 2015 6

4. Annual financial statements for fiscal year 2015 30

5. Statement of financial position 31

6. Statement of comprehensive income 32

7. Statement of changes in Net Position 33

8. Statement of cash flow 34

9. Notes to the financial statement of fiscal year 2015 35

10. General information 35

11. Scope of works 35

12. Framework upon drawing up the annual financial statements 36

13. Changes in accounting principles 36

14. Significant accounting judjments, setimations and assumptions 40

15. Summary of accounting policies 42

16. Breakdown of balance sheet items 51

17. Analysis funds results 58

18. Number of employed personne and cost of payroll 60

19. Encumbranches 61

20. Disputes in court or arbitration 61

21. Unaudited fiscal years 61

22. Other eventual liabilities and eventual receivables 61

23. Transactions with connected parties 62

24. Aims and risk management policies 63

25. Currency risk 63

26. Analysis of sensitivity of the interest rate risk 63

27. Credit risk analysis 64

28. Analysis of liquidity risk 64

29. Presentation of financila assets and liabilities per category 65

30. Capital management policies and procedures 66

31. Events after the balance sheet date 66

32. Data and information for the fiscal year 2015 67

33. Information of article 10 of Law 3401/2005, of the fiscal year 2015 68

34. Website where the company's published financial information is posted 68

35. 1. Statements of Representatives of the Board of Directors

    The members of the Board of Directors of "VIS CONTAINERS MANUFACTURING CO LTD":

36. Filippou I. Dimitrios, Chairman of the Board of Directors and Managing Director

37. Hadjivasileiou V. Georgios, Executive Member of the Board of Directors - Vice President, Secretary of the Board and CEO

38. Soupionas E. Kyriakos , Executive member of the Board of Directors and CFO in our above capacity, we certify and state that to the best of our knowledge:

39. the financial statements of the company "VIS CONTANERS MANUFACTURING CO LTD" concerning the fiscal year January 1, 2015 - December 31, 2015, which have been drawn up according to the applicable International Financial Reporting Standards, truly depict the items of the assets and liabilities, the net position and the results of the Company.

40. the Board of Director's annual report truly depicts the Company's development, achievements and position, including the description of the main risks and uncertainties the company faces.

41. Magoula, March 28, 2016

    The Chairman of the Board The appointed by the Board and Managing Director members

    Dimitrios I. Filippou	G. Vas. Hadjivasileiou	Kyriakos E. Soupionas
    ID No. ΑΑ - 061311	ID No. Ρ - 914464	ID No. AI - 540755

    2. INDEPENDENT AUDITORS REPORT

    To the shareholders of "VIS CONTAINERS MANUFACTURING CO. LTD"

    Report on the Separate Financial Statements

    We have audited the accompanying corporate financial statements of "VIS CONTAINERS MANUFACTURING CO LTD", consisting of statement of financial position as at December 31, 2015, statements of comprehensive income, changes in equity and cash flows for the year then ended and a summary of significant accounting policies and other explanatory information.

    Management's Responsibility for the Corporate Financial Statements

    Management is responsible for the preparation and fair presentation of these financial statements in accordance with International Financial Reporting Standards, as adopted by the European Union and for such internal control as management determines is necessary to enable the preparation of financial statements that are free of material misstatement, due to fraud or error.

    Auditor's Responsibility

    Our responsibility is to express an opinion on these financial statements based on our audit. We have conducted our audit in accordance with International Standards on Auditing. These standards require that we comply with ethical requirements as well as plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.

    An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The selected procedures depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, due to fraud or error. Conducting those risk assessments, the auditor considers the internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

    We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

    Opinion

    In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of "VIS CONTAINERS MANUFACTURING CO. LTD" as at December 31, 2015, and of its financial performance and its cash flows for the year then ended in accordance with International Financial Reporting Standards, as adopted by the European Union.

    Report on Other Legal and Regulatory Requirements

42. The Report of the Board of Directors includes a statement of corporate governance, which provides the information specified in paragraph 3d of article 43a of Law 2190/1920.

43. We have verified that the content of the Report of the Board of Directors is consistent and corresponds with the accompanying financial statements within the scope set by articles 43a (paragraph 3a) and 37 of Law 2190/1920.