Constantinou Bros Hotels Public Company LTD

Management Reports • Dec 16, 2022

December 16rd, 2022

To: The Cyprus Stock Exchange, Director General-CEO Nicosia

Subject: Interim Management Statement

Constantinou Bros Hotels Public Company Ltd, announces its interim management statement for the year 2022, covering the period from 01/06/2022 to 30/11/2022 in accordance with Article 11 of the Transparency Requirements (Traded Securities in Regulated Market) Law of 2007 (N.190 (I) 2007), as follows:

Nature of the Group activities

The principal activities of the Group is the ownership and management of hotel units in Paphos as well as the marketing and development of land.

General overview of the financial situation and performance of the Group

During the reporting period the Group managed to have profits in relation to losses in the corresponding period last year.

The reason for the increase in operating profits is due to the increase in the occupancy of the Group's hotels compared to the corresponding period last year.

The Group will present much improved results compared to losses from the results of 2021.

Developments and Prospects

The Board of Directors and the Management of the Group estimate that under the current circumstances and taking into account the prevailing war, the expected results this year are expected to be much improved compared to the results of 2021.

The Secretary A. Anastassiou