Lordos Hotels (Holdings) Public LTD

Quarterly Report • Sep 29, 2022

CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME For the half year ended 30 June 2022

	30 June	30 June
	2022	2021
	€	€
Turnover	6.959.201	3.073.758
Cost of goods sold	(5.416.704)	(2.554.719)
Gross profit	1.542.497	519.039
Other income	9.468	423.195
Marketing costs	(226.040)	(142.160)
Administrative costs	(1.835.223)	(1.777.455)
Finance cost	(84.955)	(108.617)
Profit from investments	88	22
Loss before taxation	(594.165)	(1.085.976)
Taxation	(4.501)	(807)
Loss for the period	(598.666)	(1.086.783)
Loss for the period attributable to:
Shareholders of parent company	(511.210)	(911.015)
Non-controlling interest	(87.456)	(175.768)
(Loss)/profit for the year	(598.666)	(1.086.783)
Loss per share attributable to the shareholders of the parent company
(cents)	(1.46)	(2.60)
Other comprehensive (expenses)/income for the period
Amounts not to be reclassified to profit or (loss) in future periods:
Deferred tax adjustment	10.657	595
	10.657	595
Other comprehensive income/(expenses) for the period	10.657	595
Comprehensive (expenses)/ income for the period	(588.009)	(1.086.188)
Comprehensive expenses/(income) attributable to:
Shareholders of parent company	(500.553)	(910.420)
Non-controlling interest	(87.388)	(175.768)
Comprehensive income for the year	(588.009)	(1.086.188)
Comprehensive (expenses)/income per share attributable to the
shareholders of the parent company (cents)	(1.43)	(2.60)

Lordos Hotels (Holdings) Public Limited

CONDENSED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 30 June 2022

2022 € ASSETS Non-current assets Property, plant and equipment 105.949 Intangible assets 10.959 Financial assets at fair value through profit and loss 7.494 Deferred taxation assets 180.253 Loans receivable 1.148.846 107.296.815 Current assets		30 June	31 December
			2021
			€
			106.300.132
			14.023
			7.406
			179.754
			1.144.378
			107.645.693
	Inventories	500.656	319.386
Trade and other receivables 1.372.465			737.706
Cash at bank and in hand 1.720.217			2.569.218
3.593.338			3.626.210
TOTAL ASSETS 110.890.153			111.271.903
EQUITY AND LIABILITIES
Equity and reserves
Share capital 11.903.113			11.903.113
Other reserves 53.463.644			53.346.799
Annuity reserve 7.719.910			8.388.042
73.086.667			73.637.954
Non-controlling interest 14.304.700			14.685.481
Total equity 87.391.367			88.323.435
Non-current liabilities
Borrowings 5.615.713			6.123.862
Trade and other creditors 86.096			92.385
Provisions 156.969			156.969
Deferred tax liabilities 13.585.893			13.458.391
19.444.671			19.831.427
Current liabilities
Trade and other creditors 2631.093			1.979.879
Amounts payable to affiliates 122.631			111.405
Bank overdrafts 253.419			-
Borrowings 1.018.352			993.373
Current tax liabilities 28.620			32.384
4.054.115			3.117.041
Total liabilities 23.498.115			22.948.468
TOTAL EQUITY AND LIABILITIES 110.890.153			111.271.903

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS

For the half year ended 30 June 2022

	30 June	30 June
	2022	2021
	€	€
Cash flow from operating activities
Profit before taxation	(594.165)	(1.085.976)
Adjustment for:
Depreciation of property, plant and equipment	873.453	915.144
Amortisation of intangible assets	10.453	9.599
Gain on disposal of assets	(800)	-
Finance cost	97.416	108.617
Gains on fair values in financial assets at fair value through profit and loss	(88)	(22)
Operating (loss)/profit before changes in working capital	386.269	(52.638)
Increase in inventories	(181.271)	(119.625)
Decrease/(increase) in trade and other claims	(835.310)	345.309
(Decrease)/increase in trade and other creditors	905.504	191.310
(Payment)/Refund of taxation	6.368	-
Net cash flow from operating activities	281.560	364.356
Cash flow for investing activities
Additions to property, plant and equipment	(522.675)	(102.084)
Additions to intangible assets	(1.350)	(6.522)
Payment of minority dividends	(279.659)	-
Net cash flow for investing activities	(803.684)	(108.606)
Cash flow from financing activities
Repayment of loans	(482.991)	(312.560)
Inflow from new loans	-	1.658.540
Interest paid	(97.306)	(108.572)
Net cash flow for financing activities	(580.297)	1.207.408
Net (decrease)/increase in cash and cash equivalents	(1.102.421)	1.463.158
Cash and cash equivalents as at 1 January	2.568.218	(1.296.367)
Cash and cash equivalents as at 30 June	1.465.797	166.791

Lordos Hotels (Holdings) Public Limited

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN NET POSITION

For the half year ended 30 June 2022

	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 2021	11.903.113	52.631.068	685.675	7.659.567	60.226	72.939.649	14.608.792	87.548.441
Loss for the first half of 2021 Dividends	- -	- -	- -	(911.015) -	- -	(911.015) -	(175.768) -	(1.086.783) -
Revaluation of land and buildings	-	(49.748)	-	-	-	(49.748)	-	(49.748)
Deferred taxation	-	49.748	-	-	-	49.748	-	49.748
Non-controlling interest	-	-	-	-	-	-	-	-
30 June 2021	11.903.113	52.631.068	685.675	6.748.552	60.226	72.028.634	14.433.024	86.461.658
Profit for the second half of 2021	-	-	-	1.978.945	-	1.978.945	581.913	2.560.858
Other total income for the year	-	-	-	-	-	-	-	-
Revaluation of land and buildings	-	-	-	-	-	-	-	-
Deferred taxation	-	30.170	-	-	-	(30.170)	(9.105)	(39.275)
Dividends	-	-	-	-	-	-	(245.183)	(245.183)
Non-controlling interest	-	-	-	-	-	-	-	-
Defence contribution in deemed
distribution of dividend	-	-	-	(339.455)	-	(339.455)	(75.168)	(414.623)
31 December 2021	11.903.113	52.600.898	685.675	8.388.042	60.226	73.637.954	14.685.481	88.323.435
Profit for the first half of 2022	-	-	-	(511.210)	-	(511.210)	(87.456)	(598.666)
Deferred taxation	-	116.845	-	-	-	116.845	-	116.845
Other comprehensive income	-	-	-	-	-	-	-	-
Non-controlling dividends	-	-	-	-	-	-	(292.397)	(292.397)
Revaluation of land and buildings	-	-	-	-	-	-	-	-
Defence and NHS contribution in deemed
distribution of dividend	-	-	-	(156.922)	-	(156.922)	(928)	(157.850)
30 June 2022	11.903.113	52.717.743	685.675	7.719.910	60.226	73.086.667	14.304.700	87.391.367