Philoktimatiki Public LTD

Interim / Quarterly Report • Sep 28, 2020

CONSOLIDATED STATEMENT OF PROFIT AND LOSS ACCOUNT AND OTHER COMPREHENSIVE INCOME FOR THE PERIOD UP TO 30 JUNE 2020

12 months ended			6 months ended
31 December			30 June
2019		2020	2019
€		€	€
579.654	INCOME	209.385	286.981
(398.913)	Cost of sales	(159.652)	(205.250)
180.741	GROSS PROFIT	49.733	81.731
10.052	Other income	5.000	5.052
(53.426)	Impairment losses and other provisions	-	-
(501)	Sales and promotion expenses	-	(33)
(275.621)	Administrative expenses	(137.472)	(129.449)
(138.855)	LOSS FROM OPERATIONS	(82.739)	(42.699)
(115.770)	Net finance costs	(54.520)	(57.719)
274.642	Share of (loss) / profit in associated company	1.300	(1.754)
20.157	PROFIT / (LOSS) BEFORE TAXATION	(135.959)	(102.172)
(35)	Taxation	-	-
20.082	NET PROFIT / (LOSS) FOR THE PERIOD	(135.959)	(102.172)
-	Other comprehensive income	-	-
20.082	TOTAL INCOME / (EXPENSES) FOR THE PERIOD	(135.959)	(102.172)
	Net profit / (loss) attributable to:
30.826	Shareholder interest	(134.167)	(100.119)
(10.744)	Minority interest	(1.792)	(2.053)
20.082		(135.959)	(102.172)
0.64	Profit / (loss) per share (cents)	(2.79)	(2.08)

CONSOLIDATED CONDENSED STATEMENT OF FINANCIAL POSITION FOR THE PERIOD UP TO 30 JUNE 2020

	30 June 2020	31 Dec 2019
	€	€
ASSETS
NON-CURRENT ASSETS
Intangible fixed assets	127.333	133.775
Investment in associated company	10.810.619	10.809.320
Total non-current assets
	10.937.952	10.943.095
CURRENT ASSETS
Stocks	940.000	940.000
Trade and other receivables	80.922	104.095
Receivables from associated companies	607.920	607.920
Cash and cash equivalents	300	628
Total current assets	1.629.142	1.652.643
TOTAL ASSETS	12.567.094	12.595.738
NET POSITION AND LIABILITIES
EQUITY
Share capital	4.084.128	4.084.128
Share premium reserve	293.239	293.239
Reserve from conversion of share capital into euro	20.664	20.664
Accumulated profits	4.323.686	4.456.902
	8.721.717	8.854.933
Minority interest	46.210	48.001
Total Equity	8.767.927	8.902.934
NON-CURRENT LIABILITIES
Borrowings and bank overdrafts	1.080.302	950.000
Total non-current liabilities	1.080.302	950.000
Current liabilities
Borrowings and bank overdrafts	1.413.011	1.401.212
Trade and other creditors	123.059	163.631
Provisions	1.182.795	1.176.250
Current tax liabilities	-	1.711
Total current liabilities	2.718.865	2.742.804
Total Liabilities	3.799.167	3.692.804
Total Equity and Liabilities	12.567.094	12.595.738
Net assets per share – cents	1.82	1.84

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD UP TO 30 JUNE 2020

Attributable to the Company's shareholders

	Share Capital	Share premium reserve	Reserve from the conversion of share capital	Accumulated profits	Total	Minority interest	Total equity
	€	€	€	€	€	€	€
Balance as at 1 January 2019	4.084.128	293.239	20.664	4.427.787	8.825.818	58.745	8.884.563
Net profit for the year after taxation Contribution for defence in deemed distribution of dividend	- -	- -	- -	30.826 (1.711)	30.826 (1.711)	(10.744) -	20.082 (1.711)
Balance as at 31 December 2019 / 1 January 2020	4.084.128	293.239	20.664	4.456.902	8.854.933	48.001	8.902.934
Net Loss for the period after taxation Adjustment for contribution for defence in deemed distribution of dividend	- -	- -	- -	(134.167) 951	(134.167) 951	(1.791) -	(135.958) 951
Balance as at 30 June 2020	4.084.128	293.239	20.664	4.323.686	8.721.717	46.210	8.767.927

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD UP TO 30 JUNE 2020

	Six months	Six months
	ended	ended
	30 June 2020	30 June 2019
Cash flow from operating activities
Loss before taxation	(135.959)	(102.172)
Adjustments for:
Debit interest	54.520	57.719
Depreciation of intangible fixed assets	6.992	7.273
Share of loss / (profit) in associated company	(1.300)	1.754
Net cash flow before changes in working capital	(75.747)	(35.426)
Changes in working capital
Decrease /(increase) in trade and other receivables	23.173	(29.640)
(Decrease) / increase in trade and other creditors	(40.572)	12.513
Cash used for operating activities	(93.146)	(52.553)
Tax paid	(758)	-
Net cash for operating activities	(93.904)	(52.553)
Cash flow from investing activities
Purchase of intangible fixed assets	(550)	-
Net cash for investing activities	(550)	-
Cash flow from financing activities
Proceeds from borrowings from shareholders	115.000	-
Interest paid	(32.373)	(29.645)
Net cash for financing activities	82.627	(29.645)
Net decrease in cash and cash equivalents and bank overdrafts	(11.827)	(82.198)
Cash and cash equivalents and bank overdrafts at beginning of year	(1.390.694)	(1.234.988)
Bank overdrafts at end of period	(1.402.521)	(1.317.186)