Consolidated Statement of Profit and Loss Account for the year ended 31 December 2023

	2023	2022
	€	€

Income	24.158.811	15.589.312
Cost of sales	(20.952.166)	(13.267.548)

Gross profit	3.206.645	2.321.764
Sales and promotion expenses	(114.295)	(138.969)
Administrative expenses	(2.302.972)	(2.069.125)
Net (losses) / gains of impairment of financial assets and write-offs	41.265	(89.261)
Other income	68.094	239.568
Other profits – net	170.450	88.811

Operating profit	1.069.187	352.788
Finance costs	(40.572)	(62.432)

Profit before taxation	1.028.615	290.356
Taxation	(211.941)	92.138

Profit for the year	816.674	382.494

Profit attributable to:
Company shareholders	798.312	378.163
Minority interest	18.362	4.331
	816.674	382.494
Earnings per share
Basic earnings per share (cents)	6.54	3.10

Fully diluted earnings per share (cents)	6.54	3.10

Consolidated Statement of Total Income

for the year ended 31 December 2023

	2023	2022
	€	€
Profit for the year	816.674	382.494
Other total income:
Items not to be reclassified to profit and loss
Fair value adjustment	405.000	-
Deferred taxation on revaluation	(11.774)	9.973
Items to be reclassified to profit and loss
Transfer of exchange differences upon the winding-up of subsidiaries	-	-
Other total income for the year, after taxation	393.226	9.973
Total profit for the year	1.209.900	392.467
Attributable to:
Company shareholders	1.191.538	388.136
Minority interest	18.362	4.331
	1.209.900	392.467

	2023	2022
	€	€

Assets
Non-Current Assets
Property, plant and equipment	3.157.103	2.808.004
Assets with right of use	63.521	42.416
Investment property	500.000	500.000
Intangible assets	38.075	38.075
Investments in associated companies	-	-
Non-current financial assets at depreciated cost	53.147	65.147
Total Non-Current Assets	3.811.846	3.453.642
Current Assets
Other non-financial assets	298.091	230.119
Trade receivables	1.211.078	1.021.875
Financial assets at depreciated cost	59.390	342.492
Tax refundable	4.058	4.058
Cash and bank balances	850.790	1.068.452
Total Current Assets	2.423.407	2.666.996
Total Assets	6.235.253	6.120.638

Equity and Liabilities
Capital and reserves
Share capital	305.321	1.221.222
Other reserves	2.225.037	1.831.811
Accumulated losses	(644.650)	(2.297.823)
	1.885.708	755.210
Minority interest	186.703	168.341
Total equity	2.072.411	923.551
Non-Current Liabilities
Borrowings	-	63.820
Lease liabilities	45.096	20.025
Deferred tax liabilities	215.034	73.210
Total Non-Current Liabilities	260.130	157.055
Current Liabilities
Borrowings	635.222	1.566.781
Trade and other creditors	1.910.721	2.085.162
Contractual liabilities	1.250.762	1.362.082
Current tax liabilities	81.891	-
Lease liabilities	24.116	26.007
Total Current Liabilities	3.902.712	5.040.032
Total liabilities	4.162.842	5.197.087
Total equity and liabilities	6.235.253	6.120.638

€ € Cash flow from operations Profit before taxation 1.028.615 290.356 Adjustments for: Depreciation of property, plant and equipment 77.752 79.608 Depreciation of assets with right of use 23.610 24.424 Share in loss of associated companies - - Fair value gains in investment property - (67.885) Debit interest 40.572 62.432 (Reversal of provision)/Provisions for doubtful debts (41.265) 89.261 Write-off of receivables 71.703 40.688 1.200.987 518.884 Cash flow from operations before changes in working capital Changes in working capital: Trade receivables (219.641) (671.974) Other non-financial assets (67.972) 19.982 Trade and other creditors (174.441) 808.724 Financial assets at depreciated cost 295.102 (43.903) Financial assets with right of use - - Contractual obligations (111.320) 260.989 Cash from operations 922.715 892.702 Net cash from operations 922.715 892.702 Cash flow from investing activities Purchase of property, plant and equipment (21.851) (22.560) Net cash for investing activities (21.851) (22.560) Cash flow from financing activities Repayments of bank borrowings (98813) (33.508) Lease liabilities capital repayments (27.496) (24.932) Interest paid (34.611) (58.981) Dividends paid (61.040) - Net cash for financing activities (221.960) (117.421) Net increase in cash and cash equivalents 678.904 752.721 Cash and cash equivalents at beginning of year (463.336) (1.216.057) Cash and cash equivalents at end of year 215.568 (463.336)	2023	2022

		Exchange			Accumulated
	Share	Difference	Revaluation	Merger	profits /	Minority
	capital	Reserve	reserve	reserve	(losses)	interest	Total
	€	€	€	€	€	€	€
Balance as at 1 January 2022	1.221.222	21.006	1.800.832		(2.664.911)	164.590	542.739
Total income
Profit for the year	-	-	-	-	378.163	4.331	382.494
Other total income
Land and buildings:
Adjustment of fair value	-	-	-	-	-	-	-
Adjustment of deferred taxation	-	-	9.973	-	-	-	9.973
Total of other total income	-	-	9.973	-	-	-	9.973
Total income for the year	-	-	9.973	-	378.163	4.331	392.467
Transactions with owners
Defence contribution in deemed
dividend distribution					(11.075)	(580)	(11.655)
Total transactions with owners	-	-	-	-	(11.075)	(580)	(11.655)

Balance as at 31 December 2022 (*adjusted)	1.222.222	21.006	1.810.805	-	(2.297.823)	168.341	923.551

	Exchange				Accumulated
	Share	Difference	Revaluation reserve	Merger reserve	profits /	Minority
	capital	Reserve			(losses)	interest	Total
	€	€	€	€	€	€	€
Balance as at 1 January 2023 (*adjusted)	1.221.222	21.006	1.810.805		(2.297.823)	168.341	923.551
Total (loss) / income
Profit for the year	-	-	-	-	798.312	18.362	816.674
Other total income
Land and buildings:
Adjustment of fair value	-	-	405.000	-	-	-	405.000
Adjustment of deferred taxation	-	-	(11.774)	-	-	-	(11.774)
Total of other total income	-	-	393.226	-	-	-	393.226
Total income for the year	-	-	393.226	-	798.312	18.362	1.209.900
Transactions with owners
Defence contribution in deemed dividend distribution
Dividends	-	-	-	-	(61.040)	-	(61.040)
Reduction of share capital	(915.901)	-	-	-	915.901	-	-
Total transactions with owners	(915.901)	-	-	-	854.861	-	(61.040)
Balance as at 31 December 2023	305.321	21.006	2.204.031	-	(644.650)	186.703	2.072.411

Attributable to the Company's Shareholders