CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the year ended 31 December 2020

Note € € Turnover 1.553.918 1.464.964 861.943 733.642 Interest Income 4 662.942 698.785 Income from fees and commissions (179.630) (216.040) Expenses from fees and commissions 483.312 482.745 Net fees and commissions income 29.033 32.537 Other operating income 5 (12.523) 20.379 Net (loss)/profit from investing activities 9 1.361.765 1.269.303 Total net income (515.247) (511.185) Staff costs 7 (77.326) (78.167) Depreciation and amortization (235.220) (259.805) Administrative and other expenses 6 Operating profit before impairment losses and provision for bad & doubtful debts 533.972 420.146 Impairment losses and provisions for bad & doubtful debts 19 64.719 108.095 Operating profit before net finance income 598.691 528.241 Finance income - 10.196 Finance expense (86.707) (59.175) Net finance income 8 (86.707) (48.979) Profit before taxation 511.984 479.262 Taxation 10 (2.121) 67.395 Profit for the year 509.863 546.657		2020	2019





















	Other comprehensive income	16.397	-
Total comprehensive income for the year 526.260 546.657

The notes on pages 30 to 87 are an integral part of these financial statements.

		2020	2019
	Note	€	€
Assets
Non-current assets
Property, plant and equipment	13	51.099	54.519
Right to use assets	14	144.950	173.123
Investment properties	15	1.097.572	1.131.982
Intangible assets	16	2.638	4.077
Available-for-sale financial assets	18	548.009	510.644
Deferred taxation	26	66.318	68.123
Total non-current assets		1.910.586	1.942.468
Current Assets
Trade and other receivables	19	9.745.497	8.249.289
Financial assets at fair value through profit or loss	20	94.317	88.424
Refundable tax	26	82.119	82.119
Cash at bank and in hand	21	674.380	4.478.921
Total current assets		10.596.313	12.898.753
Total assets		12.506.899	14.841.221
Equity
Share capital	22	7.200.000	7.200.000
Retained Earnings		893.708	687.448
Total equity		8.093.708	7.887.448
Liabilities
Non-current liabilities
Debenture	25	2.000.000	2.000.000
Trade and other payables	23	136.938	149.699
Total non-current liabilities		2.136.938	2.149.699
Current liabilities
Bank overdrafts	21	517.671	91.340
Debenture	25	44.606	43.556
Lease liability	23	12.761	26.242
Trade and other payables	24	1.701.215	4.642.936
Total current liabilities		2.276.253	4.804.074
Total equity and liabilities		12.506.899	14.841.221

On 29 April 2021 the Board of Directors of Ellinas Finance Public Company Limited authorized these consolidated financial statements for issue.

Emilios Ellinas - Chairman Nearchos Petrides – Board Member

The notes on pages 30 to 87 are an integral part of these financial statements.

.................................... ....................................