Salamis Tours (Holdings) Public LTD

Interim / Quarterly Report • Sep 27, 2023

CONDENSED UNAUDITED INTERIM CONSOLIDATED STATEMENT OF PROFIT AND LOSS ACCOUNT

	30/06/2023	30/06/2022
	€	€
Turnover	37.531.644	38.609.579
Cost of sales	(26.717.831)	(28.014.339)
Gross profit	10.813.813	10.595.240
Administrative expenses	(2.850.489)	(2.465.428)
Sales expenses	(87.549)	(69.322)
Depreciation of property, vessels and equipment	(1.549.895)	(1.241.623)
Depreciation of assets with right of use	(44.933)	(47.827)
	(4.532.866)	(3.824.200)
Profit from operating activities	6.280.947	6.771.040
	365.124	1.652.744
Other income Net finance income/(expenses)	(187.332)	976.059
Profit before taxation	6.458.739	9.399.843
Taxation	(441.797)	(323.079)
Net profit for the period	6.016.942	9.076.764
Attributable to:
Shareholders of the parent company	5.861.287	8.650.808
Minority interest	155.655	425.956
	6.016.942	9.076.764
	cents	cents
Basic and fully diluted earnings per share	16.05	23.68

CONDENSED UNAUDITED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

	30/06/2023 €	30/06/2022 €
Net profit for the period	6.016.942	9.076.764
Other comprehensive (costs) / income	-	(3.501)
Comprehensive income for the period	6.016.942	9.073.263
Comprehensive income attributable to:
Shareholders of parent company	5.861.287	8.647.307
Minority interest	155.655	425.956
	6.016.942	9.073.263

CONDENSED UNAUDITED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION

	30/06/2023	31/12/2022
ASSETS	€	€
Non-Current Assets
Property, vessels, plant and equipment	28.867.983	24.067.646
Assets with right of use	658.311	703.244
Financial assets at fair value
through other total income	1.965.894	1.965.894
Loan to associated company	400.000	400.000
	31.892.188	27.136.784
Current assets
Inventories	1.051.563	788.223
Trade and other receivables	6.100.350	5.327.119
Cash at bank and in hand		42.868.301 1 39.878.765
	50.020.214	45.994.107
Total assets	81.912.402	73.130.891
EQUITY AND LIABILITIES
Capital and reserves
Share capital	15.707.529	15.707.529
Reserves	48.835.547 46.627.174
Equity attributable to the shareholders	64.543.076	62.334.703
Minority interest	1.073.442	917.587
Total equity	65.616.518	63.252.290
Non-current liabilities
Lease obligations	548.858	597.744
Trade and other creditors	974.870	167.000
Deferred tax liabilities	1.311.356	1.311.356
	2.835.084	2.076.100
Current liabilities
Trade and other creditors	8.830.196	7.252.210
Borrowings	-	-
Lease obligations	96.869	96.651
Current tax liabilities	735.047	304.191
Dividend payable	3.798.688	149.449
	13.460.800	7.802.501
Total liabilities	16.295.884	9.878.601
Total equity and liabilities	81.912.402	73.130.891

CONDENSED UNAUDITED INTERIM CONSOLIDATED STATEMENT

OF CHANGES IN EQUITY

	Share capital €	Issue of shares at a premium €	Fair value reserves €	Accumulated profits €	Minority interest €	Total €
Balance as at 1 January 2022	15.707.529	937.067	4.377.947	29.358.013	736.982	51.117.538
Change in fair value	-	-	(3.501)	-	-	(3.501)
Dividends	-	-	-	(2.922.331)	-	(2.922.331)
Net profit for the period	-	-	-	8.650.808	425.956	9.076.764
Balance as at 30 June 2022	15.707.529	937.067	4.374.446	35.086.490	1.162.938	57.268.470
Balance as at 1 January 2023	15.707.529	937.067	5.134.340	40.555.767	917.587	63.252.290
Minority interest in subsidiary's share capital	-	-	-	-	200	200
Dividends	-	-	-	(3.652.914)	-	(3.652.914)
Net profit for the period	-	-	-	5.861.287	155.655	6.016.942
Balance as at 30 June 2023	15.707.529	937.067	5.134.340	42.764.140	1.073.442	65.616.518

Salamis Tours (Holdings) Public Limited CONDENSED UNAUDITED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS

	30/06/2023 €	30/06/2022 €
Profit before taxation	6.458.739	9.399.843
Adjustments for:
Depreciation of property, vessels and equipment	1.549.895	1.241.623
Depreciation of assets with right of use	44.933	47.827
Unrealised foreign exchange loss (profit)	178.987	(916.044)
Interest income	(237.992)	(18.406)
Interest expenses	11.200	7.061
Income from dividends	(20.012)	(13.994)
Gain on the sale of property, vessels and equipment	(24.703)	(1.612.277)
Cash flow before changes in working capital	7.961.047	8.135.133
(Increase) in inventories	(263.340)	(964.351)
(Increase) in trade and other debtors	(773.231)	(1.442.634)
Increase in trade and other creditors	2.385.856	2.194.234
Cash from operating activities Taxation	9.310.332	7.922.382
Tax (paid)/returned	(10.941)	3.851
Net cash from operating activities	9.299.391	7.926.233
Investing activities
Payment for purchase of property, vessels and equipment	(6.351.232)	(3.453.840)
Proceeds from sale of property, vessels and equipment	25.703	3.524.561
Proceeds from sale of financial assets	-	286.576
Interest received	237.992	18.406
Dividends received	20.012	13.994
Decrease in fixed-term deposits of over three months	(145)	(144)
Net cash (for)/from investing activities	(6.067.670)	389.553
Financing activities
Interest paid	(225)	(154)
Repayment from leases – interest	(10.975)	(6.907)
Repayment from leases – capital	(48.668)	- (35.404)
Payment of dividends	(3.675)	(3.310)
Proceeds from minority for subsidiary's share capital	200	-
Net cash for financing activities	(63.343)	(45.775)
Net increase in cash and cash equivalents	3.168.378	8.270.011
Cash and cash equivalents at beginning of period	39.267.469	26.318.680
Impact of changes in exchange rates in cash and cash equivalents	(178.987)	916.044

Cash and cash equivalents at end of period

42.256.8602 35.504.735