Salamis Tours (Holdings) Public LTD

Interim / Quarterly Report • Sep 29, 2022

CONDENSED UNAUDITED INTERIM CONSOLIDATED STATEMENT OF PROFIT AND LOSS ACCOUNT

	30/06/2022	30/06/2021
	€	€
Turnover	38.609.579	26.064.823
Cost of sales	(28.014.339)	(18.734.352)
Gross profit	10.595.240	7.330.471
Administrative expenses	(2.465.428)	(2.073.246)
Sales expenses	(69.322)	(28.483)
Depreciation of property, vessels and equipment	(1.241.623)	(1.210.079)
Depreciation of assets with right of use	(47.827)	(38.109)
	(3.824.200)	(3.349.917)
Profit from operating activities	6.771.040	3.980.554
Other income	1.652.744	351.983
Net finance income	976.059	129.889
Profit before taxation	9.399.843	4.462.426
Taxation	(323.079)	(203.839)
Net profit for the period	9.076.764	4.258.587
Attributable to:
Shareholders of the parent company	8.650.808	4.077.356
Minority interest	425.956	181.231
	9.076.764	4.258.587
	cents	cents
Basic and fully diluted earnings per share	23.68	11.16

CONDENSED UNAUDITED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

	30/06/2022 €	30/06/2021 €
Net profit for the period	9.076.764	4.258.587
Other comprehensive (costs) / income	(3.501)	20.978
Comprehensive income for the period	9.073.263	4.279.565
Comprehensive income attributable to:
Shareholders of parent company	8.647.307	4.098.334
Minority interest	425.956	181.231
	9.073.263	4.279.565

CONDENSED UNAUDITED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION

	30/06/2022	31/12/2021
ASSETS	€	€
Non-Current Assets
Property, vessels, plant and equipment	23.823.150	23.522.717
Assets with right of use	447.115	494.942
Financial assets at fair value
through other total income	1.895.421	2.185.798
Loan to associated company	341.720	341.720
	27.507.406	26.544.877
Current assets
Inventories	1.566.341	601.990
Trade and other receivables	6.481.049	5.038.415
Cash at bank and in hand	36.128.244	26.929.499
	44.175.634	32.569.904
Total assets	70.683.040	59.114.781
EQUITY AND LIABILITIES
Capital and reserves
Share capital	15.707.529	15.707.529
Reserves	40.398.003 34.673.027
Equity attributable to the shareholders	56.105.532	50.380.556
Minority interest	1.162.938	736.982
Total equity	57.268.470	51.117.538
Non-current liabilities
Lease obligations	373.451	390.441
Trade and other creditors	194.000	294.000
Deferred tax liabilities	1.137.521	1.137.521
	1.704.972	1.821.962
Current liabilities
Trade and other creditors	8.212.900	5.918.666
Borrowings	12.545	-
Lease obligations	72.616	91.030
Current tax liabilities	373.051	46.120
Dividend payable	3.038.486	119.465
	11.709.598	6.175.281
Total liabilities	13.414.570	7.997.243
Total equity and liabilities	70.683.040	59.114.781

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 2021	15.707.529	937.067	4.196.377	22.433.896	756.646	44.031.515
Change in fair value	-	-	20.978	-	-	20.978
Net profit for the period	-	-	-	4.077.356		181.231 4.258.587
Balance as at 30 June 2021	15.707.529	937.067	4.217.355	26.511.252	937.877	48.311.080
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

CONDENSED UNAUDITED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS

	30/06/2022 €	30/06/2021 €
Profit before taxation	9.399.843	1.357.853
Adjustments for:
Depreciation of property, vessels and equipment	1.241.623	1.210.079
Depreciation of assets with right of use	47.827	38.109
Unrealised foreign exchange loss (profit)	(916.044)	(172.253)
Interest income	(18.406)	(9.998)
Interest expenses	7.061	2.212
Income from dividends	(13.994)	(24.878)
Gain on the sale of property, vessels and equipment	(1.612.777)	(177.098)
Cash flow before changes in working capital	8.135.133	5.328.599
(Increase) in inventories	(964.351)	(358.977)
(Increase) in trade and other debtors	(1.442.634)	(902.898)
Increase in trade and other creditors	2.194.234	1.521.589
Cash flow from operating activities	7.922.382	5.588.313
Taxation
Tax (returned) paid	3.851	(52.533)
Net cash from operating activities	7.926.233	5.535.780
Investing activities
Payment for purchase of property, vessels and equipment	(3.453.840)	(5.548.492)
Proceeds from sale of property, vessels and equipment	3.524.561	191.050
Proceeds from sale of financial assets	286.576	-
Interest received	18.406	9.998
Dividends received	13.994	24.878
Decrease in fixed-term deposits of over three months	(144)	-
Net cash for/(from) investing activities	389.553	(5.322.566)
Financing activities
Interest paid	(134)	(87)
Repayment from leases – interest	(6.907)	(2.125)
Repayment from leases – capital	(35.404)	- (38.473)
Payment of dividends	(3.310)	(1.405)
Net cash for financing activities	(45.775)	(42.090)
Net increase in cash and cash equivalents	8.270.011	171.124
Cash and cash equivalents at beginning of period	26.318.680	22.277.588

Impact of changes in exchange rates on cash
and cash equivalents	916.044	172.253
Cash and cash equivalents at end of period	35.504.735	22.620.965