Salamis Tours (Holdings) Public LTD

Annual Report • May 22, 2020

CONSOLIDATED STATEMENT OF PROFIT AND LOSS Year ended 31 December 2019

	2019 €	2018 €
Income Cost of sales	53.513.724 (38.843.639)	45,925,063 (33,143,581)
Gross profit Other operating income Income from interest Depreciation of property, vessels, plant and equipment Depreciation of assets with a right of use Sales expenses Administrative costs	13.670.085 103.146 172.375 (2.283.188) (76.219) (344.078) (5.056.491)	12,781,482 768.051 166,781 (1,919,632) - (308,853) (4,889,448)
Decrease in expected credit losses at cash at bank Operating profit	21.277 6.206.907	65.417 6,663,798
Net finance income	19.658	211,286
Net gain from disposal of property, plant and equipment	19.984	46,830
Profit before taxation	6.246.549	6,921,914
Taxation Net profit for the year	(308.984) 5.937.565	(385,518) 6,536,396
Net profit for the year attributable to: Shareholders of holding company Minority interest	5.715.046 222.519	6,640,343 (103,947)
Net profit for the year	5.937.565	6,536,396
Earnings per share attributed to the shareholders of the holding company (cents) – basic and fully diluted	15.65	18.18

CONSOLIDATED STATEMEMENT OF OTHER COMPREHENSIVE INCOME

Year ended 31 December 2019

	2019 €	2018 €
Net profit for the year	5.937.565	6.536.396
Other comprehensive income
Items not to be reclassified to profit or loss in subsequent periods
Adjustment of fair value of land and buildings Financial assets at fair value through other comprehensive income – fair	-	629.700
value (loss)/gain	(32.779)	237.704
Deferred taxation on revaluation of property	13.057	(116.786)
	(19.722)	750.618
Other comprehensive (loss)/ income for the year after taxation	(19.722)	750.618
Comprehensive income for the year	5.917.843	7.287.014
Comprehensive income for the year attributable to:
Shareholders of holding company	5.695.324	7.390.961
Minority interest	222.519	(103.947)
	5.917.843	7.287.014

CONSOLIDATED STATEMENT OF FINANCIAL POSITION 31 December 2019

	2019	2018
ASSETS	€	€
Non-current assets
Property, vessels, plant and equipment	21.967.156	17.929.739
Right-of-use assets	229.863	-
Financial assets at fair value through other comprehensive income	2.270.867	2.298.951
Other receivables	341.720	341.720
	24.809.606	20.570.410
Current assets
Inventories	565.940	531.265
Trade and other receivables	4.206.434	2.399.464
Cash at bank and in hand	20.371.974	21.859.436
	25.144.348	24.790.165
Total assets	49.953.954	45.360.575
EQUITY AND LIABILITIES
Equity
Share capital	15.707.529	15.707.529
Share premium reserve	937.067	937.067
Fair value reserves Accumulated profits	4.197.533 20.781.341	4.217.255 16.224.197
	41.623.470	37.086.048
Minority interest	250.597	29.338
Total equity	41.874.067	37.115.386
Non-current liabilities
Liabilities from leases	158.858	-
Trade and other creditors	294.000	607.266
Deferred tax liabilities	1.114.419	1.106.213
	1.567.277	1.713.479
Current liabilities
Trade and other creditors	6.330.732	5.100.860
Borrowings	1.919	1.344.440
Liabilities from leases Current tax liabilities	74.941 29.129	- 10.158
Dividend payable	75.889	75.252
	6.512.610	6.531.710
Total liabilities	8.079.887	8.245.189
Total equity and liabilities	49.953.954	45.360.575

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Year ended 31 December 2019

	Share capital €	Share premium reserve €	Other reserves €	Accumulated profits €	Minority interest €	Total €
Balance as at 1 January 2018 as previously stated	15,707,529	937,06	3,594.010	11,393.534	136,585	31.768.725
Impact of initial implementation of IFRS9	-	-	(127.373)	16.777	-	(110.596)
Balance as at 1 January 2018 as adjusted	15.707.529	937.06	3.466.637	11.410.311	136.585	31.658.129
Comprehensive income Net profit for the year Other comprehensive income for the	-	-	-	6.640.343	(103.947)	6.536.396
year Comprehensive income for the year	- -	- -	750.618 750.618	- 6.640.343	- (103.947)	750.618 7.287.014
Transactions with shareholders Dividends	-	-	-	(1.826.457)	-	(1.826.457)
Total transactions with owners	-	-	-	(1.826.457)	-	(1.826.457)
Other changes Dividends payable by subsidiary in minority interest Total other changes	- -	- -	- -	- -	(3,300) (3,300)	(3,300) (3.300)
Balance as at 31 December 2018/1 January 2019	15,707,529	937,06	4.217.255	16.224.197	29.338	37.115.386
Comprehensive income
Net profit for the year Other comprehensive income for the	-	-	-	5.715.046	222.519	5.937.565
year	-	-	(19.722)	-	-	(19.722)
Comprehensive income for the year	-	-	(19.722)	5.715.046	222.519	5.917.843
Transactions with shareholders Dividends	-	-	-	(1.095.874)	-	(1.095.874)
Defence contribution to deemed distribution of dividend	-	-	-	(62.028)	-	(62.028)
Total transactions with owners	-	-	-	(1.157.902)	-	(1.157.902)
Other changes
Dividends payable by subsidiary in minority interest	-	-	-	-	(1.320)	(1.320)
Minority interest in the share capital of subsidiary					60	60
Total other changes	-	-	-	-	(1.320)	(1.320)
Balance as at 31 December 2019	15,707,529	937.06	4,197.533	20.781.341	250,597	41.874.067