Demetra Holdings Plc

Quarterly Report • Jun 30, 2020

DEMETRA INVESTMENTS

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

for the period from 1 January 2020 to 31 March 2020

	Quarter ended
	31 March
	2020	2019
	€	€
Income
Income from interest	50.603	60.205
Income from rent	308.251	257.383
Profit from financial assets	-	5.490.701
	358.854	5.808.289
Operating expenses	(624.946)	(688.274)
Loss from financial assets	(2.714.903)	-
Reversal of anticipated credit losses	8.035	279.100
Finance costs	(90.945)	(32.394)
(provision) / provision reversal for share in loss from affiliates	(27.508)	27.125
Share in loss from affiliates	(462.220)	-
(Loss) / profit before taxation	(3.553.633)	5.393.846
Taxation	(7.357)	(12.246)
(Net loss) / net profit for the period	(3.560.990)	5.381.600
Other comprehensive expenses
Items which may be reclassified to the consolidated statement of profit or
loss in subsequent periods
Share in loss from affiliates	(777.370)	-
Total (expenses) / income for the period	(4.338.360)	5.381.600
(Net loss) / net profit attributable to:
Company shareholders	(3.560.990)	5.381.600
(Loss) / earnings per share – cents	(1.78)	2.69
Total (expenses) / income attributable to:
Company shareholders	(4.338.360)	5.381.600
Comprehensive (expenses) / income per share – cents	(2.17)	2.69

DEMETRA INVESTMENTS

INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 31 March 2020

	31 March	31 December
	2020	2019
	€	€
ASSETS
Non-current assets
Intangible fixed assets	1.573.311	1.590.565
Investments in affiliates	197.844.447	199.084.037
Investment property	32.738.395	32.646.596
Receivables from affiliates	11.280.153	11.230.249
Deferred taxation	300.708	300.708
Total non-current assets	243.737.014	244.852.155
Current assets
Inventories	7.243.660	7.223.619
Other receivables	118.113	119.882
Financial assets at fair value through profit and loss	12.850.232	15.565.135
Bank deposits	849.966	842.032
Cash and cash equivalents	1.507.083	2.537.297
Current tax liabilities	26.269	26.739
Total current assets	22.595.323	26.314.704
Total assets	266.332.337	271.166.859
NET POSITION AND LIABILITIES
Equity
Share capital	140.000.000	140.000.000
Reserves	113.329.697	117.668.057
Total equity	253.329.697	257.668.057
Non-current liabilities
Long-term loans	9.909.172	9.902.172
Total non-current liabilities	9.909.172	9.902.172
Current liabilities
Current portion of long-term loans	9.137	483.410
Provision for losses of affiliates	2.450.763	2.423.255
Trade and other creditors	640.568	689.965
Total current liabilities	3.100.468	3.596.630
Total equity and liabilities	266.332.337	271.166.859
Net asset value per share – cents	126.66	128.83

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS for the period 1 January 2020 to 31 March 2020

	Quarter ended 31 March
	2020	2019
	€	€
Cash flow from operating activities
(Loss) / profit before taxation	(3.553.633)	5.393.846
Adjustments for:
Depreciation of intangible fixed assets	20.062	21.252
(Loss) /(gain) on disposal and revaluation of financial assets at fair value
through profit and loss	2.714.903	(5.490.701)
Loss on sale of fixed assets	2.101	-
Provision / (provision reversal) for share in loss from affiliates	27.508	(27.125)
Share in loss from affiliates	462.220	-
Reversal of anticipated credit losses	(7.394)	(275.993)
Loan interest payable	87.295	-
Net cash flow before changes in working capital	(247.478)	(378.721)
Increase in inventories	(20.041)	(10.000)
Decrease in other receivables	1.769	34.927
Net purchases and sales of financial assets at fair value through profit and
loss	-	(39.384.826)
Increase in receivables from affiliates	(49.904)	(48.507)
Decrease in bank deposits	-	11.310.414
(Decrease) / increase in trade and other creditors	(49.397)	50.690
Purchase of investment property	(91.799)	(14.543)
Cash for operating activities	(456.850)	(28.440.566)
Tax paid	(6.887)	(934)
Net cash for operating activities	(463.737)	(28.441.500)
Cash flow from investing activities
Purchase of intangible fixed assets	(4.909)	(1.309)
Net cash for investing activities	(4.909)	(1.309)
Cash flow from financing activities
Repayment of loans	(561.568)	-
Net cash for financing activities	(561.568)	-
Net decrease in cash and cash equivalents	(1.030.214)	(28.442.809)
Cash and cash equivalents at beginning of period	2.537.297	30.989.211
Cash and cash equivalents at end of period	1.507.083	2.546.402

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY for the period from 1 January 2020 to 31 March 2020

	ha ita l S re ca p	ha di f fer Ex c ng e 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	l To ta uit eq y
	€	€	€	€	€
Ba lan 1 Ja 20 19 at ce as nu ary	14 0.0 00 .00 0	31 9.4 37	-	( ) 16 .55 0.9 56	12 3.7 68 .48 1
fit fo he d Pro rio r t pe	-	-	-	5.3 81 .60 0	5.3 81 .60 0
lan h 2 Ba 31 M 01 9 at ce as arc	14 0.0 00 .00 0	31 9.4 37	-	( ) 11 .16 9.3 56	12 9.1 50 .08 1
lan Ba 1 Ja 20 20 at ce as nu ary	14 0.0 00 .00 0	31 9.4 37	11 9.8 50 .06 6	( ) 2.5 01 .44 6	25 7.6 68 .05 7
fo he d Lo rio r t ss pe	-	-	-	( 3.5 60 .99 0	( ) 3.5 60 .99 0
he he fo he Ot ive r t r c om pre ns ex pe ns es d rio pe	-	-	-	( ) 77 7.3 70	( ) 77 7.3 70
Ba lan 31 M h 2 01 9 at ce as arc	14 0.0 00 .00 0	31 9.4 37	11 9.8 50 .06 6	( ) 6.8 39 .80 6	25 3.3 29 .69 7