Lordos Hotels (Holdings) Public LTD

Quarterly Report • Sep 28, 2023

CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME For the half year ended 30 June 2023

	30 June	30 June
	2023	2022
	€	€
Turnover	9.511.877	6.959.201
Cost of goods sold	(6.771.719)	(5.416.704)
Gross profit	2.740.158	1.542.497
Other income	16.470	9.468
Marketing costs	(324.276)	(226.040)
Administrative costs	(2.035.623)	(1.835.223)
Finance cost	(113.056)	(84.955)
Profit from investments	311	88
Profit/(Loss) before taxation	283.984	(594.165)
Taxation	(118.618)	(4.501)
Profit/(Loss) for the period	165.366	(598.666)
Profit/(Loss) for the period attributable to:
Shareholders of parent company	38.794	(511.210)
Non-controlling interest	126.572	(87.456)
(Loss)/profit for the year	165.366	(598.666)
Profit/(Loss) per share attributable to the shareholders of the parent company (cents)	0.11	(1.46)
Other comprehensive (expenses)/income for the period
Amounts not to be reclassified to profit or (loss) in future periods:
Deferred tax adjustment	123.824	10.657
	123.824	10.657
Other comprehensive income/(expenses) for the period	123.824	10.657
Comprehensive (expenses)/ income for the period	289.190	(588.009)
Comprehensive expenses/(income) attributable to:
Shareholders of parent company	79.570	(500.553)
Non-controlling interest	209.620	(87.388)
Comprehensive income for the year	289.190	(588.009)
Comprehensive (expenses)/income per share attributable to the
shareholders of the parent company (cents)	0.23	(1.43)

Lordos Hotels (Holdings) Public Limited

CONDENSED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 30 June 2023

	30 June	31 December
	2023	2022
	€	€
ASSETS
Non-current assets
Property, plant and equipment	110.272.435	109.813.632
Intangible assets	6.625	6.097
Financial assets at fair value through profit and loss	7.820	7.509
Deferred taxation assets	95.874	95.760
Loans receivable	1.153.352	1.153.352
	111.536.106	111.076.350
Current assets
Inventories	559.953	458.042
Trade and other receivables	1.538.218	837.612
Cash at bank and in hand	4.176.448	3.976.235
	6.274.619	5.271.889
TOTAL ASSETS	117.810.725	116.348.239
EQUITY AND LIABILITIES
Equity and reserves
Share capital	11.903.113	11.903.113
Other reserves	56.761.789	56.711.476
Annuity reserve	9.605.510	9.566.716
	78.270.412	78.181.305
Non-controlling interest	15.075.464	15.522.801
Total equity	93.345.876	93.704.106
Non-current liabilities
Borrowings	4.662.144	5.069.656
Trade and other creditors	80.154	80.154
Provisions	159.523	144.781
Deferred tax liabilities	13.887.299	13.763.474
	18.789.120	19.058.065
Current liabilities
Trade and other creditors	3.629.381	2.169.530
Amounts payable to affiliates	109.145	128.866
Bank overdrafts	727.673	-
Borrowings	1.018.352	1.085.743
Current tax liabilities	191.178	202.129
	5.675.729	3.586.068
Total liabilities	24.464.849	22.644.133
TOTAL EQUITY AND LIABILITIES	17.810.725	116.348.239

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS

For the half year ended 30 June 2023

	30 June	30 June
	2023	2022
	€	€
Cash flow from operating activities
Profit/(loss) before taxation	283.984	(594.165)
Adjustment for:
Depreciation of property, plant and equipment	914.504	873.453
Amortisation of intangible assets	9.095	10.453
Gain on disposal of assets	-	(800)
Finance cost	113.056	97.416
Loss on fair values in financial assets at fair value through profit and loss	(311)	(88)
Operating (loss)/profit before changes in working capital	1.320.328	386.269
Increase in inventories	(101.911)	(181.271)
Decrease/(increase) in trade and other claims	(700.606)	(835.310)
(Decrease)/increase in trade and other creditors	1.453.339	905.504
(Payment)/Refund of taxation	(146.875)	6.368
Net cash flow from operating activities	1.824.275	281.560
Cash flow for investing activities
Additions to property, plant and equipment	(1.373.400)	(522.675)
Additions to intangible assets	(950)	(1.350)
Payment for purchase of shares in subsidiary	(381.250)	-
Payment of minority dividends	-	(279.659)
Net cash flow for investing activities	(1.755.600)	(803.684)
Cash flow from financing activities
Repayment of loans	(484.996)	(482.991)
Inflow from new loans	-	-
Interest paid	(111.139)	(97.306)
Net cash flow for financing activities	(596.135)	(580.297)
Net (decrease)/increase in cash and cash equivalents	(527.460)	(1.102.421)
Cash and cash equivalents as at 1 January	3.976.235	2.568.218
Cash and cash equivalents as at 30 June	3.448.775	1.465.797

Lordos Hotels (Holdings) Public Limited

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN NET POSITION

For the half year ended 30 June 2023

	Equity attributable to the shareholders of the parent company
					Difference from
		Fair	Share		conversion of		Non
	Share	value	premium	Accumulated	share capital		controlling	Total
	capital €			reserve	reserve	profits	into Euro	Total	interest	equity
		€	€	€	€	€	€	€
1 January 2022	11.903.113	52.600.898	685.675	8.388.042	60.226	73.637.954	14.685.481	88.323.435
Loss for the first half of 2022	-	-	-	(511.210)	-	(511.210)	(87.456)	(598.666)
Dividends	-	-	-	-	-	-	-	-
Revaluation of land and buildings	-	-	-	-	-	-	-	-
Deferred taxation	-	116.845	-	-	-	116.845	-	116.845
Defence and NHS contribution in deemed
distribution of dividend	-	-	-	(156.922)	-	(156.922)	(928)	(157.850)
Non-controlling interest	-	-	-	-	-	-	-	-
30 June 2022	11.903.113	52.717.743	685.675	7.719.710	60.226	73.086.667	14.304.700	87.391.367
Profit for the second half of 2022	-	-	-	2.404.741	-	2.404.741	703.576	3.108.017
Other total income for the year	-	4.584.626	-	-	-	4.584.626	-	4.584.626
Revaluation of land and buildings	-	-	-	-	-	-	-	-
Deferred taxation	-	(544.318)	-	-	-	(544.318)	-	(544.618)
Dividends	-	-	-	(714.557)	-	(714.557)	(278.879)	(993.436)
Non-controlling interest	-	(792.476)	-	-	-	(792.476)	795.476	-
Defence contribution in deemed
distribution of dividend	-	-	-	156.922	-	156.922	928	157.850
31 December 2022	11.903.113	55.965.575	685.675	9.566.715	60.226	78.181.305	15.522.801	93.704.106
Profit for the first half of 2023	-	-	-	38.791	-	38.794	126.572	165.366
Deferred taxation	-	(142.395)	-	-	-	(142.395)	23.606	(118.789)
Other comprehensive income	-	-	-	-	-	-	-	-
Non-controlling dividends	-	-	-	-	-	-	-	-
Revaluation of land and buildings	-	192.708	-	-	-	192.708	(23.606)	169.102
Redemption of subsidiary in non-controlling
shares	-	-	-	-	-	-	(573.909)	(573.909)
Defence contribution in deemed
distribution of dividend	-	-	-	-	-	-	-	--
30 June 2023	11.903.113	56.015.888	685.675	9.605.510	60.226	78.270.412	15.075.464	93.345.876