Cyprus Trading Corporation Public LTD

Quarterly Report • Nov 27, 2023

CYPRUS TRADING CORPORATION PLC CONDENSED CONSOLIDATED STATEMENT OF TOTAL INCOME

For the six months ended 30 June 2022

		Six months ended 30 June
	2022	2021
	€	€
Continuing operations
Turnover	148.233.202	144.799.352
Cost of sales	(115.005.914)	(113.180.900)
Gross profit	33.227.287	31.618.452
Other operating income	1.031.826	2.792.392
Distribution and administrative expenses	(24.757.336)	(24.283. 269)
Operating profit before depreciations	9.501.778	10.127.575
Depreciations	(2.245.647)	(2.193.761)
Depreciations of long-term leases	(3.705.306)	(3.306.391)
Operating profit before net financing costs	3.550.825	4.627.423
Net financing costs	(2.709.095)
		(2.372.309)
Financial cost of long-term leases	(1.574.973)	(1.362.206)
Gain from holdings in associated companies	-	-
Non-recurring expenses	(103.606)	(75.572)
Profits/(losses) before tax	(836.848)	820.336
Tax	(393.385)	(389.895)
Profits/(losses) for the period from
continuing operations	(1.230.233)
		430.441
Non-continuing operations
Losses for the period after tax from non-continuing	(78.518)	(694.756)
operations
Losses and comprehensive total expenses for the period	(1.308.751)	(264.315)
Losses and comprehensive total expenses attributable
to:
Company owners	(1.158.528)	(367.324)
Minority interest	(150.223)	103.009
Losses and comprehensive total expenses for the period	(1.308.751)	(264.315)
Losses per share
Basic and fully diluted losses per share (cents):
Continuing operations	(1.19)	0.11
Non-continuing operations	(0.06)	(0.50)
	(1.24)	(0.39)

CYPRUS TRADING CORPORATION PLC CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 30 JUNE 2022

	30 June	31 December
Assets	2022	2021
Property. plant and equipment	80.503.519	81.097.069
Intangible assets	13.682.836	13.715.395
Investment property	3.522.353	3.522.353
Investments in associated companies	13.434.691	13.434.691
Financial assets at fair value through other total income	10.896.939	10.896.939
Contractual asset	40.000.000	40.000.000
Financial leases	39.356	411.224
Long-term leases	82.727.202	84.892.421
Loans receivable	44.866.961	43.733.899
Restricted bank deposits	5.000.000	5.000.000
Total non-current assets	294.673.857	296.703.991
Stocks	56.937.657	58.043.876
Financial leases	334.500	127.754
Trade and other claims	27.442.506	30.828.362
Loans receivable	115.487	262.446
Cash and cash equivalents	1.025.603	3.628.734
Total current assets	85.855.753	92.891.172
Total assets	380.529.610	389.595.163
Equity
Share capital	79.261.146	79.261.147
Share premium	4.255.873	4.255.872
Own shares reserve	(113.817)	(113.817)
Fair value reserve	20.517.369	20.517.369
Annuity reserve	(75.590.934)	(74.432.406)
Difference from conversion of share capital into Euro	401.035	401.035
Total equity attributable to the owners	28.730.673	29.889.201
Minority interest	10.755.918	11.396.142
Total equity	39.486.591	41.285.343
Liabilities Borrowings	72.670.920	74.236.926
Deferred tax liabilities	4.578.847	4.578.847
Long-term leases	81.328.414	83.718.099
Total non-current liabilities	158.578.181	162.533.872
Borrowings	80.323.478	83.244.920
Trade and other liabilities	93.780.881	94.836.708
Current portion of long-term leases	6.578.923	6.007.324
Current tax liabilities	1.781.556	1.686.996
Total current liabilities	182.464.838	185.775.948
Total liabilities	341.043.019	348.309.820
Total equity and liabilities	380.529.610	389.595.163

CYPRUS TRADING CORPORATION PLC

CONSOLIDATED STATEMENT OF CASH FLOWS

For the six months ended 30 June 2022

	Six months ended 30 June
	2022	2021
	€	€
Cash flow from operations
Operating profit before changes in working capital	9.595.749	9.565.326
Decrease/(increase) in stocks	1.106.219	(9.373.562)
Decrease/(increase) in trade and other claims	3.385.856	203.296
(Decrease)/increase in trade and other liabilities	(1.384.644)	5.417.202
Cash from operations	12.703.179	5.812.263
Interest paid	(3.739.617)	(3.388.909)
Tax paid	(298.825)	(295.398)
Net cash from operations	8.664.737	2.127.955
Cash flow for investing activities
Payments for purchase of property, plant and equipment	(2.124.573)	(2.442.893)
Payments for purchase of intangible assets	(100.101)	(304.283)
Payments for purchase of investment property	-	-
Net change in the assets and liabilities of assets held for sale	-	-
Proceeds from sale of property. plant and equipment	329.043	1.909.617
Interest received	37.167	32.891
Net cash from/(for) investing activities	(1.858.464)	(804.667)
Cash flow for financing activities
Grant of new loans	1.476.878	12.533.752
Repayment of loans	(2.411.189)	(3.829.193)
(Repayment)/grant of banking and other facilities	(3.553.140)	-
Grant of loans to affiliated companies	(1.216.489)	(1.404.701)
Repayment of loans from affiliated parties Repayment of loans from other parties	1.223.740 -	1.797.298 -
Instalments received from financial lease	165.126	155.826
Payments for long-term leases	(4.604.328)	(3.844.892)
Dividends paid	(490.000)	(2.450.000)
Net cash from/(for) financing activities	(9.409.402)	2.958.090
Decrease in cash and cash equivalents	(2.603.131)	4.281.376
Cash and cash equivalents at beginning of six-month period	3.628.734	3.011.877
Cash and cash equivalents at end of six-month period	1.025.603	7.293.253

CYPRUS TRADING CORPORATION PLC

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the six months ended 30 June 2022

	Share Capital €	Difference from conversion of share capital into euro €	Share premium reserve €	Own shares reserve €	Fair value reserve €	Annuity Reserve €	Total €	Minority Interest €	Total equity €
Six months ended 30 June 2021
As at 1 January 2021	79.261.147	401.305	4.255.873	(113.817)	24.093.083	(73.943.030)	33.954.291	11.964.042	45.918.333
Comprehensive total expenses for the period Loss for the period Comprehensive total expenses for the	- -	- -	- -	- -	- -	(367.324) (367.324)	- (367.324) (367.324)	103.009 103.009	- (264.315) (264.315)
period
Transactions with the company's owners Contributions from and distributions to the Company's owners Dividends paid by subsidiary companies	-	-	-	-	-	-	-	(2.450.000)	(2.450.000)
As at 30 June 2021	79.261.147	401.035	4.255.873	(113.817)	24.093.083	(74.310.352)	33.586.967	9.617.051	- 43.204.018

Attributable to the company's owners

CYPRUS TRADING CORPORATION PLC

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the six months ended 30 June 2022

	Share Capital €	Difference from conversion of share capital into euro €	Share premium reserve €	Own shares reserve €	Fair value reserve €	Annuity Reserve €	Total €	Minority Interest €	Total equity €
Six months ended 30 June 2022 As at 1 January 2022	79.261.147	401.305	4.255.873	(113.817)	20.517.369	(74.432.406)	29.889.201	11.396.142	41.285.343
Comprehensive total expenses for the period Loss for the period Comprehensive total expenses for the period	- -	- -	- -	- -	- -	(1.158.528) (1.158.528)	- (1.158.528) (1.158.528)	(150.223) (150.223)	- (1.308.751) (1.308.751)
Transactions with the company's owners Contributions from and distributions to the Company's owners Dividends paid by subsidiary companies	-	-	-	-	-	-	-	(490.000)	(490.000)
As at 30 June 2022	79.261.147	401.035	4.255.873	(113.817)	20.517.369	(75.590.934)	28.730.673	10.755.918	- 39.486.591

Attributable to the company's owners