Demetra Holdings Plc

Interim / Quarterly Report • Sep 28, 2020

DEMETRA INVESTMENTS

INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME for the period 1 January 2020 to 30 June 2020

	Six months ended 30 June
	2020	2019
	€	€
Income
Income from dividends	-	533.116
Income from interest	100.717	110.438
Income from rents	779.414	578.782
Profit from financial assets	-	11.494.294
	880.131	12.716.630
Operating expenses	(906.968)	(1.153.780)
Loss from financial assets	(2.028.125)	-
Reversal of expected credit losses	10.491	255.295
Finance costs	(170.990)	(107.556)
(Provision) / Reversal of provision for share in loss from affiliates	(32.959)	39.262
Share in profit from affiliates	3.711.837	-
Profit before taxation	1.463.417	11.749.851
Taxation	(19.082)	(30.019)
Net profit for the period	1.444.335	11.719.832
Other comprehensive expenses
Amounts to be classified in the consolidated profit or loss account in future
periods
Share in loss from affiliates	(505.501)	-
Total income for the period	938.834	11.719.832
Net profit attributable to:
Shareholders of the Company	1.444.335	11.719.832
Profit per share - cents	0.72	5.86
Total profit attributable to:
Shareholders of the Company	938.834	11.719.832
Total income per share - cents	0.47	5.86

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

	30 June	31 December
	2020	2019
	€	€
ASSETS
Non-current assets
Intangible fixed assets	1.556.579	1.590.565
Investments to affiliates	202.287.852	199.084.037
Immovable property for investment	33.060.976	32.646.596
Receivables from affiliates	11.330.057	11.230.249
Deferred taxation	300.708	300.708
Total non-current assets	248.536.172	244.852.155
Current assets
Inventories	7.255.133	7.223.619
Other receivables	373.936	119.882
Financial assets at fair value through profit and loss	13.536.879	15.565.135
Bank deposits	8.000	842.032
Cash and cash equivalents	1.232.103	2.537.297
Current tax claims	20.986	26.739
Total current assets	22.427.037	26.314.704
Total assets	270.963.209	271.166.859
NET POSITION AND LIABILITIES
Equity
Share capital	140.000.000	140.000.000
Reserves	118.604.370	117.668.057
Total equity	258.604.370	257.668.057
Long-term liabilities
Long-term loans	7.240.319	9.902.172
Total long-term liabilities	7.240.319	9.902.172
Current liabilities
Current instalments of long-term loans	1.840.426	483.410
Provision for losses of affiliates	2.456.214	2.423.255
Trade and other creditors	821.880	689.965
Total current liabilities	5.118.520	3.596.630
Total equity and liabilities	270.963.209	271.196.859
Net asset per share - cents	129.30	128.83

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

	Six months ended 30 June
	2020	2019
	€	€
Cash flow from operating activities
Profit before taxation	1.463.417	11.749.851
Adjustment for:
Depreciation of intangible fixed assets	39.836	42.502
Loss/(profit) from disposal and revaluation of financial assets at fair price
through profit and loss	2.028.125	(11.494.294)
Loss from sale of fixed assets	1.970	-
Provision / (reversal of provision) for share in loss from affiliates	32.959	(39.262)
Share in profit from affiliates	(3.711.837)	-
Reversal of expected credit losses	(10.363)	(252.309)
Interest of loans payable	165.892	47.322
Net cash flow before changes in working capital	9.999	53.810
Decrease / (Increase) in inventories	(31.514)	288.072
(Increase) / decrease in other receivables	(254.054)	85.191
Net purchases and sales of financial assets at fair value through profit and
loss	131	(49.304.574)
Increase in receivables from affiliates	(99.808)	(97.553)
Decrease in bank deposits	844.395	10.701.352
Increase / (decrease) in trade and other creditors	131.915	(177.382)
Purchase of immovable property for investment	(414.380)	(149.055)
Cash from / (for) operating activities	186.684	(38.600.139)
Tax paid	(13.329)	(8.244)
Net cash from / (for) operating activities	173.355	(38.608.383)
Cash flow from investing activities
Purchase of intangible fixed assets	(7.820)	(31.444)
Net cash flow for investing activities	(7.820)	(31.444)
Cash flow from financing activities
Proceeds from new loans	-	10.500.000
Repayment of loans	(1.470.729)	(22.377)
Net cash (for) / from financing activities	(1.470.729)	10.477.623
Net decrease in cash and cash equivalents	(1.305.194)	(28.162.204)
Cash and cash equivalents at beginning of period	2.537.297	30.989.211
Cash and cash equivalents at end of period	1.232.103	2.827.007

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

for the period 1 January 2020 to 30 June 2020

	Share capital	Exchange difference	Negative goodwill	Accumulated Loss	Total equity
	€	reserve	reserve	€	€
		€
			€
Balance as at 1 January 2019	140.000.000	319.437	-	(16.550.956)	123.768.481
Profit for the period	-	-	-	11.719.832	11.719.832
Balance as at 30 June 2019	140.000.000	319.437	-	(4.831.124)	135.488.313
Balance as at 1 January 2020	140.000.000	319.767	119.850.066	(2.501.446)	257.668.057
Profit for the period	-	-	-	1.444.335	1.444.335
Other total cost for the period	-	-	-	(505.501)	(505.501)
Other transactions with shareholders	-	-	-	(2.521)	(2.521)
Balance as at 30 June 2019	140.000.000	319.437	119.850.066	(1.565.133)	258.604.370