The Cyprus Cement Public Company LTD

Interim / Quarterly Report • Sep 30, 2022

THE CYPRUS CEMENT PUBLIC COMPANY LIMITED

Interim Condensed Consolidated Financial Statements

For the period from 1 January 2022 to 30 June 2022

Interim Condensed Consolidated Income Statement and other Comprehensive Income for the period from 1 January 2022 to 30 June 2022

	30 June 2022 Unaudited €000	30 June 2021 Unaudited €000
Revenue Administrative expenses	160 (432) ___	131 (424) ___
Operating loss	(272)	(294)
Finance cost Share of profit from investments accounted for using	(20)	(16)
equity method	1.368 ___	2.235 ___
Profit before tax Taxation	1.076 (5) ___	1.924 - ___
Profit for the period	1.071 =========	1.924 =========
Other comprehensive income Share of reserves of investments accounted for using equity method	(4)	1
Total comprehensive income for the period	___ 1.067 =========	___ 1.925 =========
Profit for the period attributable to: Owners of the company Non-controlling interest	1.087 (16) ___	1.986 (62) ___
	1.071 =========	1.924 =========
Profit per share attributable to the shareholders of the Company (cent per shares): Basic and fully diluted	0,79 =========	1,44 =========

Interim Condensed Consolidated Balance Sheet at 30 June 2022

	30 June 2022	31 December 2021
	Unaudited €000	Audited €000
Assets
Non-current assets
Investment property	283.963	283.878
Investments accounted for using the equity method	59.173 _____	60.174 _____
	343.136 _____	344.051 _____
Current assets
Financial assets at amortised cost Financial assets at fair value through income	13.111	12.434
statement	1.509	1.007
Other assets	131	313
Cash and cash equivalents at bank	17.925 _____	23.751 _____
	32.676	37.505
Total assets	_____ 375.812	_____ 381.556
	===========	===========
Equity and liabilities
Equity attributable to owners of the parent
Share capital	59.173	59.173
Share premium	910	910
Treasury shares	(98)	-
Fair value reserve Revenue reserve	107.426 17.236	107.430 17.236
Other reserves	(15)	(15)
Retained earnings	139.133	138.046
	_____ 323.765	_____ 322.779
Non-controlling interest	_____ 707	_____ 723
	_____	_____
Total equity	324.471 _____	323.502 _____
Non-current liabilities Deferred tax liabilities	50.926	50.926
	_____	_____
	50.926 _____	50.926 _____
Current liabilities
Trade and other payables Payable to shareholders	115 -	240 6.489
Provisions	300	300
	_____ 415	_____ 7.129
	_____	_____
Total liabilities	51.341 _____	58.055 _____
Total equity and liabilities	375.812	381.556
	===========	===========

Interim Condensed Consolidated statement of changes in equity for the period ended 30 June 2022

	Share Capital €000	Attributable to owners of the Company
		Share Premium €000	Treasury shares €000	Fair value reserve €000	Other reserves €000	Revenue Reserve €000	Retained Earnings €000	Total €000	Non controlling Interest €000	Total equity €000
Balance at 1 January 2021	59.173	910	-	107.524	17.236	(15)	136.544	321.372	7.323	328.695
Comprehensive income Profit for the period	__ -	___ -	__ -	__ -	__ -	____ -	___ 1.987	____ 1.987	___ (62)	____ 1.924
Other comprehensive income Share of fair value reserves and other reserves of associated companies	__ -	___ -	___ -	__ 1	__ -	____ -	___ -	____ 1	___ -	____ 1
Total other comprehensive income	__ -	___ -	___ -	__ 1	__ -	____ -	___ -	____ 1	___ -	____ 1
Total comprehensive income for the period	_ - _	_ - _	_ - _	_ 1 _	_ - _	_ - _	_ 1.987 _	_ 1.988 _	_ (62) _	_ 1.925 _
Balance at 30 June 2021 (unaudited)	59.173 =========	910 ===========	- ==========	107.525 =========	17.236 =========	(15) ===========	138.532 ===========	323.361 ===========	7.261 ===========	330.621 ============
Balance at 1 January 2022	59.173	910	-	107.430	17.236	(15)	138.046	322.779	723	323.502
Comprehensive income Profit for the period	__ -	___ -	___ -	__ -	__ -	____ -	___ 1.087	____ 1.087	____ (16)	____ 1.071
Other comprehensive income Share of fair value reserves and other reserves of associated companies Buyback treasury shares (168.161 shares)	__ - -	___ - -	___ - (98)	__ (4) -	__ - -	____ - -	___ - -	____ (4) (98)	____ - -	____ (4) (98)
Total other comprehensive income	__ -	___ -	___ (98)	__ (4)	__ -	____ -	___ -	____ (102)	____ (16)	____ (102)
Total comprehensive income for the period	_ - _	_ - _	_ (98) _	_ (4) _	_ - _	_ - _	_ 1.087 _	_ 985 _	_ (16) _	_ 969 _
Balance at 30 June 2022 (unaudited)	59.173 =========	910 ===========	(98) =========	107.426 ==========	17.236 =========	(15) ===========	139.133 ==========	323.765 ===========	707 ===========	324.471 ===========

Interim Condensed Consolidated statement of cash flows for the period ended 30 June 2022

	30 June 2022 Unaudited €000	30 June 2021 Unaudited €000
Cash flows from operating activities
Cash used in operations	(6.983) ____	(453) ____
Net cash used in operating activities	(6.983) ____	(453) ____
Cash flows from investing activities
Proceeds from disposal of investment held at fair value through other comprehensive income	-	22.500
Proceeds from amount due from related companies Proceeds from dividends received Purchase of financial assets at fair value	- 2.366	142 2.730
through income statement Loans granted to related parties	(502) (534)	- (980)
Additional expenditure relating to investment property Buyback treasury shares	(86) (98)	(6) -
Net cash from/(used in) investing activities	_ 1.146 _	_ 24.386 _
Cash flows from financing activities
Interest paid Interest received	(1) 12 ____	(16) - ____
Net cash used in financing activities	11 ____	(16) ____
Net (decrease)/increase in cash and cash equivalents	(5.826)	23.917
Cash and cash equivalents at beginning of period	23.751	1.696
Cash and cash equivalents at end of period	____ 17.925	____ 25.614
	==========	==========