K. Kythreotis Holdings Public LTD

Annual / Quarterly Financial Statement • Apr 26, 2024

CONSOLIDATED STATEMENT OF PROFIT AND LOSS ACCOUNT for the year ended 31 December 2023

	2023 €	2022 €
Income	22.052.333	17.255.983
Cost of sales	(18.229.705)	(14.398.281)
Gross profit	3.822.628	2.857.702
Sales and promotion expenses	(176.741)	(102.078)
Administrative expenses	(1.386.305)	(1.297.616)
Other income / (expenses) - net	92.588	38.619
Other profits / (losses) – net	111.783	256.014
Profit from operations	2.463.953	1.752.641
Finance cost	(81.346)	(53.956)
Profit before taxation	2.382.607	1.698.685
Tax charge	(266.492)	(184.514)
Profit for the year	2.116.115	1.514.171
Earnings per share attributable to the Company's shareholders during the year
Basic and fully diluted (cents)	4.98	3.57

K. KYTHREOTIS HOLDINGS PUBLIC LTD

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the year ended 31 December 2023

	2023 €	2022 €
Profit for the year	2.116.115	1.514.171
Other comprehensive income: Items not to be reclassified to profit and loss:
Gain on revaluation of land and buildings after taxation	5.512	41.024
Adjustment of deferred taxation	139	8.102
	5.651	49.126
Other comprehensive income for the year, after taxation	5.651	49.126
Comprehensive income for the year	2.121.766	1.563.297

K. KYTHREOTIS HOLDINGS PUBLIC LTD

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

for the year ended 31 December 2023

	Share capital €	Share premium reserve	Revaluation reserve	Other reserves	Conversion of share capital into euro reserve	Earnings retained	Total
		€	€	€	€	€	€
Balance as at 1 January 2022	7,216,500	2,019,172	660,884	39,761	36,513	4,282,389	14,255,219
Compr. income Profit for the year Other comprehensive	--	--	--	--	--	1,514,171	1,514,171
income
Land and buildings:
Gain on revaluation of land and buildings	--	--	41.024	--	--	--	41.024
Adjustment on deferred taxation	--	--	8.102	--	--	--	8.102
Comprehensive other income for the	--	--	49.126	--	--	--	49,126
year Comprehensive income for the year	--	--	49.126	--	--	1,514,171	1,563,297
Transaction with owners
Dividend	--	--	--	--	--	(849,000)	(849,000)
Total transactions with owners	--	--	--	--	--	(849,000)	(849,000)
Balance as at 31 December 2022 / 1 January 2023	7,216,500	2,019,172	710.010	39,761	36,513	4,947,560	14,969,516
Comprehensive
income Profit for the year Other	--	--	--	--	--	2,116,115	2,116,115
comprehensive income
Land and buildings:
Gain on revaluation of land and buildings	--	--	5,512	--	--	--	5,512
Adjustment on deferred taxation	--	--	139	--	--	--	139
Comprehensive other income for the year	--	--	5,651	--	--	--	5,651
Comprehensive income for the year	--	--	5,651	--	--	2,116,115	2,121,766
Transaction with
owners
Dividend Total transactions	-- --	-- --	-- --	-- --	-- --	(721,650) (721,650)	(721,650) (721,650)
with owners
Balance as at 31 December 2023	7,216,500	2,019,172	715,661	39,761	36,513	6,342,025	16,369,632

CONSOLIDATED STATEMENT OF CASH FLOWS for the year ended 31 December 2023

	2023	2022
	€	€
Cash flow from operating activities
Profit before taxation	2.382.607	1.698.685
Adjustments for:
Depreciation of property, plant and equipment	701.714	541.887
Gain on sale of property, plant and equipment	(42.205)	(9.500)
Gain on sale of investment property	(90.000)	(70.390)
(Gain) / loss in the fair value of investment property	21.000	(179.474)
Loss on write-off of property	6.902	-
Dividends receivable	(78)	(34)
Interest receivable	(12.594)	(18)
Interest payable	59.642	53.955
	3.026.988	2.035.111
Changes in working capital:
Increase in inventories	(139.370)	(230.196)
Increase in trade receivables	(148.415)	(560.314)
(Increase) / decrease in other receivables	172.307	(3.816)
(Increase) / decrease in investments at fair value through profit and loss	(578)	4.125
Decrease in other assets	238.340	192.687
Increase in trade and other creditors	630.609	341.138
Cash from operations	3.779.881	1.778.735
Tax paid	(212.311)	(179.543)
Net cash from operations	3.567.570	1.599.192
Cash flow from investing activities
Payment for purchase of property, plant and equipment	(2.270.480)	(1.115.096)
Payment for purchase of investment property	-	(548.777)
Payment for purchase of other assets	(329.020)	(274.095)
Proceeds from sale of property, plant and equipment	153.500	9.500
Proceeds from sale in investment property	100.000	319.000
Interest received	12.594	18
Dividends received	78	34
Net cash for investing activities	(2.333.328)	(1.609.416)
Cash flow from financing activities
Repayment of loans	(109.216)	(98.660)
Proceeds from new loans	400.000	-
Interest paid	(59.642)	(53.955)
Dividend paid	(721.650)	(849.000)
Net cash for financing activities	(490.508)	(1.001.615)
Net increase / (decrease) in cash and cash equivalents	743.734	(1.011.839)
Cash and cash equivalents at beginning of year	359.826	1.371.665
Cash and cash equivalents at end of year	1.103.560	359.826

CONSOLIDATED BALANCE SHEET as at 31 December 2023

	2023	2022
	€	€
ASSETS
Non-current assets
Property, plant and equipment	9.964.575	8.508.496
Investment property	1.068.000	1.983.000
Goodwill	1.382.206	1.382.206
Investments in subsidiaries	-	-
Other assets	653.450	378.525
	13.068.231	12.252.227
Current assets
Inventories	2.591.094	1.787.724
Trade receivables	4.526.155	4.377.740
Other receivables	12.085	184.392
Other assets	177.597	141.842
Tax receivable	-	7.733
Contractual assets	45.935	45.935
Financial assets at fair value through profit and loss	6.788	6.210
Cash at bank and in hand	1.169.158	933.220
	8.528.812	19.737.023
Total assets	21.597.043	19.753.023
EQUITY AND LIABILITIES
Equity
Share capital	7.216.500	7.216.500
Share premium reserve	2.019.172	2.019.172
Revaluation reserve	715.661	710.010
Other reserves	39.761	39.761
Conversion of share capital into euro reserve	36.513	36.513
Earnings retained	6.342.025	4.947.560
Total equity	16.369.632	14.969.516
Non-current liabilities
Borrowings	461.538	233.157
Trade and other creditors	25.706	106.927
Deferred taxation	530.580	528.330
	1.017.824	868.414
Current liabilities
Trade and other creditors	3.763.249	3.051.421
Borrowings	161.159	98.756
Current tax liabilities	44.059	-
Provision for claims	175.522	175.522
Bank overdrafts	65.598	573.394
	4.209.587	3.899.093
Total liabilities	5.227.411	4.767.507
Total equity and liabilities	21.597.043	19.737.023