Demetra Holdings Plc

Quarterly Report • Dec 2, 2020

INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME

for the period 1 January 2020 to 30 September 2020

	Nine months ended 30
	September
	2020	2019
	€	€
Income
Income from dividends	380,797	701,258
Income from interest	151,170	162,101
Income from rents	1,134,406	879,767
Profit from financial assets	-	6,489,474
	1,666,373	8,232,600
Operating expenses	(1,355,817)	(1,477,094)
Loss from financial assets	(1,990,270)	-
Reversal of expected credit losses	10,469	264,086
Finance costs	(251,061)	(240,751)
(Provision) / Reversal of provision for share in loss from affiliates	(59,927)	34,845
Share in profit from affiliates	8,403,579	-
Profit before taxation	6,423,346	6,813,683
Taxation	(27,442)	(11,208)
Net profit for the period	6,395,904	6,802,475
Other comprehensive expenses
Amounts to be classified in the consolidated profit or loss account in future
periods
Share in loss from affiliates	(588,280)	-
Total income for the period	5,807,624	6,802,475
Net profit attributable to:
Shareholders of the Company	6,395,904	6,802,475
Profit per share - cents	3,20	3,40
Total profit attributable to:
Shareholders of the Company	5,807,624	6,802,475
Total income per share - cents	2,90	3,40

INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 30 September 2020

	30 September	31 December
	2020	2019
	€	€
ASSETS
Non-current assets
Intangible fixed assets	1.538.921	1.590.565
Investments to affiliates	206.896.815	199.084.037
Immovable property for investment	33.320.192	32.646.596
Receivables from affiliates	11.380.510	11.230.249
Deferred taxation	300.708	300.708
Total non-current assets	253.437.146	244.852.155
Current assets
Inventories	7.255.133	7.223.619
Other receivables	133.862	119.882
Financial assets at fair value through profit and loss	13.574.734	15.565.135
Bank deposits	8.000	842.032
Cash and cash equivalents	1.416.942	2.537.297
Current tax claims	18.913	26.739
Total current assets	22.407.584	26.314.704
Total assets	275.844.730	271.166.859
NET POSITION AND LIABILITIES
Equity
Share capital	140.000.000	140.000.000
Reserves	123.473.160	117.668.057
Total equity	263.473.160	257.668.057
Long-term liabilities
Long-term loans	7.255.831	9.902.172
Total long-term liabilities	7.255.831	9.902.172
Current liabilities
Current instalments of long-term loans	1.840.426	483.410
Provision for losses of affiliates	2.483.182	2.423.255
Trade and other creditors	792.131	689.965
Total current liabilities	5.115.739	3.596.630
Total equity and liabilities	275.844.730	271.196.859
Net asset per share - cents	131.74	128.83

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS for the period 1 January 2020 to 30 September 2020

	Nine months ended 30
	September
	2020	2019
	€	€
Cash flow from operating activities
Profit before taxation	6.423.346	6.813.683
Adjustment for:
Depreciation of intangible fixed assets	70.151	62.739
Loss/(profit) from disposal and revaluation of financial assets at fair price
through profit and loss	1.990.270	(6.489.474)
Loss from sale of fixed assets	1.970	-
Provision / (reversal of provision) for share in loss from affiliates	59.927	(34.845)
Share in profit from affiliates	(8.403.579)	-
Reversal of expected credit losses	(10.363)	(261.095)
Interest of loans payable	243.617	135.618
Net cash flow before changes in working capital	375.339	226.626
Decrease / (Increase) in inventories	(31.514)	280.349
(Increase) / decrease in other receivables	(13.980)	85.809
Net purchases and sales of financial assets at fair value through profit and
loss	131	(49.304.026)
Increase in receivables from affiliates	(150.261)	(147.138)
Decrease in bank deposits	844.395	10.785.827
Increase / (decrease) in trade and other creditors	102.166	(165.436)
Purchase of immovable property for investment	(673.596)	(194.738)
Cash from / (for) operating activities	452.680	(38.432.727)
Tax paid	(19.616)	(9.362)
Net cash from / (for) operating activities	433.064	(38.442.089)
Cash flow from investing activities
Purchase of intangible fixed assets	(20.477)	(52.536)
Net cash flow for investing activities	(20.477)	(52.536)
Cash flow from financing activities
Proceeds from new loans	-	10.500.000
Repayment of loans	(1.532.942)	(84.761)
Net cash (for) / from financing activities	(1.532.942)	10.415.239
Net decrease in cash and cash equivalents	(1.120.355)	(28.079.386)
Cash and cash equivalents at beginning of period	2.537.297	30.989.211
Cash and cash equivalents at end of period	1.416.942	2.909.825

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

for the period 1 January 2020 to 30 September 2020

	Share	Exchange	Negative	(Accumulated	Total
	capital	difference	goodwill	Loss)/	equity
	€	reserve	reserve	Accumulated	€
		€		Profit
			€	€
Balance as at 1 January 2019	140.000.000	319.437	-	(16.550.956)	123.768.481
Profit for the period	-	-	-	6.802.475	6.802.475
Balance as at 30 September 2019	140.000.000	319.437	-	(9.748.481)	130.570.956
Balance as at 1 January 2020	140.000.000	319.767	119.850.066	(2.501.446)	257.668.057
Profit for the period	-	-	-	6.3958.904	6.395.904
Other total cost for the period	-	-	-	(588.280)	(588.280)
Other transactions with shareholders	-	-	-	(2.521)	(2.521)
Balance as at 30 September 2020	140.000.000	319.437	119.850.066	3.303.657	263.473.160