Demetra Holdings Plc

Annual / Quarterly Financial Statement • Apr 12, 2021

DEMETRA HOLDINGS PLC

CONSOLIDATED STATEMENT OF PROFIT AND LOSS ACCOUNT AND OTHER COMPREHENSIVE INCOME for the year ended 31 December 2020

	2020	2019
	€	€
Income
Income from dividends	380,797	701,258
Income from interest	201,636	233,697
Income from rents	1,484,301	1,186,669
Other income	33,472	-
Profit on the sale and revaluation of land and immovable property	-	650,645
Profit on financial assets at fair value through profit and loss	797,438	10,413,909
	2,897,644	13,186,178
Operating expenses	(2,066,054)	(1,990,257)
Loss on the sale and revaluation of land and immovable property	(1,869,495)	-
(Provision) / reversal of provision on anticipated credit losses	(25,968)	259,046
Finance costs	(378,432)	(290,091)
Writing-off of negative goodwill	-	119,850,066
Provision for share in loss from affiliates – Verendrya	(74,110)	(8,304)
Share in profit from affiliates – Hellenic Bank	10,604,798	4,043,164
Profit before taxation	9,088,383	135,049,802
Taxation	58,868	(716,160)
Net profit for the year	9,147,251	134,333,642
Other comprehensive expenses
Items which may be reclassified to the consolidated statement of profit and
loss account in subsequent periods
Share in losses from affiliates – Hellenic Bank	(673,161)	(359,061)
Items not to be reclassified to the consolidated statement of profit and loss
account in subsequent periods
Share in profit from affiliates – Hellenic Bank	1,171,938	139,927
Other total income / (expenses)	498,777	(219,134)
Total income for the year	9,646,028	134,114,508
Net profit attributable to:
Company shareholders	9,147,251	134,333,642
Basic and fully diluted earnings per share – cents	4.57	67.17
Total income attributable to:
Company shareholders	9,646,028	134,114,508
Total earnings per share - cents	4.82	67.06

DEMETRA HOLDINGS PLC

CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 31 December 2020

	31/12/2020	31/12/2019
	€	€
ASSETS
Non-current assets
Intangible fixed assets	1,500,019	1,590,565
Investment property	31,782,076	32,646,596
Investments in affiliates	209,833,173	199,084,037
Receivables from affiliates	11,394,475	11,230,249
Deferred taxation	394,890	300,708
Total non-current assets	254,904,633	244,852,155
Current assets
Inventories	6,998,619	7,223,619
Other receivables	181,631	119,882
Financial assets at fair value through profit and loss	16,362,299	15,565,135
Bank deposits	8,000	842,032
Cash and cash equivalents	962,572	2,537,297
Current tax liabilities	26,739	26,739
Total current assets	24,539,860	26,314,704
Total assets	279,444,493	271,166,859
EQUITY AND LIABILITIES
Equity
Share capital	140,000,000	140,000,000
Reserves	126,959,646	117,668,057
Total equity	266,959,646	257,668,057
Non-current liabilities
Long-term loans	7,316,612	9,902,172
Total non-current liabilities	7,316,612	9,902,172
Current liabilities
Current long-term loan instalments	1,841,226	483,410
Provision for losses of affiliates	2,497,365	2,423,255
Trade and other creditors	829,644	689,965
Total current liabilities	5,168,235	3,596,630
Total equity and liabilities	279,444,493	271,166,859
Net assets per share – cents	133.48	128.83

CONSOLIDATED STATEMENT OF CASH FLOWS for the year ended 31 December 2020

	2020	2019
	€	€
Cash flow from operating activities
Profit for the year before taxation	9,088,383	135,049,802
Adjustments for:
Depreciation of intangible fixed assets	87,262	82,409
Loss (Profit) on the sale and revaluation of intangible fixed assets	31,508	(99,480)
Profit on the disposal and revaluation of financial assets at fair value
through profit and loss	(797,438)	(10,413,909)
Loss / (profit) on the sale and revaluation of investment property	1,549,358	(584,494)
Negative goodwill	-	(119,850,066)
Provision for share in loss from affiliates	74,110	8,304
Share in profit from affiliates	(10,604,798)	(4,043,164)
Provision / (reversal of provision) for anticipated credit losses	26,125	(256,015)
Loan interest payable	366,736	254,043
Net cash flow before changes in working capital	(178,754)	147,430
Decrease in immovable property inventories	225,000	302,705
(Increase) / decrease in other receivables	(61,749)	59,290
Increase in net receivables from affiliates	(200,714)	(196,723)
Net purchases and sales of financial assets at fair value
through profit and loss	274	(49,376,296)
Increase in trade and other creditors	139,679	41,965
Decrease in bank deposits	844,395	10,785,827
Purchase of investment property	(690,781)	(347,085)
Adjustment of cost of investment property	5,943	-
Cash from / (for) operating activities	83,293	(38,582,887)
Tax (paid) / received	(35,314)	57,113
Net cash from / (for) operating activities	47,979	(38,525,774)
Cash flow from investing activities
Purchase of intangible fixed assets	(28,224)	(57,679)
Net cash for investing activities	(28,224)	(57,679)
Cash flow from financing activities
Proceeds from new loan	-	10,278,005
Loan repayment	(1,594,480)	(146,466)
Net cash (for) / from financing activities	(1,594,480)	10,131,539
Net decrease in cash and cash equivalents	(1,574,725)	(28,451,914)
Cash and cash equivalents at beginning of year	2,537,297	30,989,211
Cash and cash equivalents at end of year	962,572	2,537,297

DEMETRA HOLDINGS PLC

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

for the year ended 31 December 2020

	S ha ita l re ca p €	ha Ex c ng e di f fer en ce res erv e €	tiv Ne ga e dw l l i go o res erv e €	( lat d Ac cu mu e ) Lo sse s lat d ac cu mu e fit pro s €	l To ta uit eq y €
lan 1 Ja 20 19 Ba at ce as nu ary	14 0, 00 0, 00 0	31 9, 43 7	-	( ) 16 0, 95 6 55 ,	12 3, 76 8, 48 1
fit fo he fte Ne tio t p r t r ta ro ye ar a xa n	-	-	-	13 4, 33 3, 64 2	13 4, 33 3, 64 2
fer be Tra tw ns ee n r ese rve s	-	-	11 9, 85 0, 06 6	( ) 11 9, 85 0, 06 6	-
he l e fo he fte Ot tio r to ta r t r ta xp en se s ye ar a xa n	-	-	-	( ) 21 9, 13 4	( ) 21 9, 13 4
he h s ha ho lde Ot tio wi r t t ran sac ns re rs	-	-	-	( ) 21 4, 93 2	( ) 21 4, 93 2
/ Ba lan 31 D be r 2 01 9 1 J 20 20 at ce as ec em an ua ry	14 0, 00 0, 00 0	31 9, 43 7	11 9, 85 0, 06 6	( ) 2, 50 1, 44 6	25 7, 66 8, 05 7
fit fo he fte Ne tio t p r t r ta ro ye ar a xa n	-	-	-	9, 14 7, 25 1	9, 14 7, 25 1
he l in fo he fte Ot tio r to ta r t r ta co me ye ar a xa n	-	-	-	49 8, 77 7	49 8, 77 7
he h s ha ho lde Ot tio wi r t t ran sac ns re rs	-	-	-	( ) 35 4, 43 9	( ) 35 4, 43 9
lan be Ba 31 D r 2 02 0 at ce as ec em	14 0, 00 0, 00 0	31 9, 43 7	11 9, 85 0, 06 6	6, 79 0, 14 3	26 6, 95 9, 64 6