Demetra Holdings Plc

Quarterly Report • Oct 31, 2019

INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME for the period 1 January 2019 to 30 September 2019

	Nine months ended 30 September
	2019	2018
	€	€
Income
Dividends receivable	701.258	495.036
Interest receivable	162.101	247.233
Profit from the sale. revaluation and exploitation of land and immovables	879.767	864.439
Profit from financial assets	6.489.474	3.382.416
	8.232.600	4.989.124
Operating expenses	(1.477.094)	(1.122.800)
Reversal of provision of expected credit losses at bank balances	264.083	-
Finance cost	(240.751)	(127.085)
Reversal of provision for share in loss from affiliates	34.845	47.107
Profit before taxation	6.813.683	3.786.346
Taxation	(11.208)	(29.266)
Net profit for the period	6.802.475	3.757.080
Other comprehensive expenses
Amounts to be classified in the consolidated profit or loss account in future
periods
Profit from revaluation of investments at fair value through other
comprehensive income	-	8.531
Total income for the period	6.802.475	3.765.611
Net profit attributable to:
Shareholders of the Company	6.802.475	3.757.080
Profit per share - cents	3.40	1.88
Total income attributable to:
Shareholders of the Company	6.802.475	3.765.611
Profit per share - cents	3.40	1.88

INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 30 September 2019

	30 September	31 December
	2019	2018
	€	€
ASSETS
Non-current assets
Intangible fixed assets	1.505.612	1.515.815
Immovable property for investment	31.909.755	31.715.017
Receivables from affiliates	11.194.811	11.047.673
Deferred taxation	1.025.973	1.025.973
Total non-current assets	45.636.151	45.304.478
Current assets
Inventories	7.245.975	7.526.324
Other receivables	93.363	179.172
Financial assets at fair value through profit and loss	87.193.303	31.399.803
Bank deposits	832.965	11.357.697
Cash and cash equivalents	2.909.825	30.989.211
Current tax claims	72.901	74.747
Total current assets	98.348.332	81.526.954
Total assets	143.984.483	126.831.432
NET POSITION AND LIABILITIES
Equity
Share capital	140.000.000	140.000.000
Reserves	(9.429.044)	(16.231.519)
Total equity	130.570.956	123.768.481
Non-current liabilities
Long-term loans	10.100.857	-
Total non-current liabilities	10.100.857	-
Current liabilities
Current instalments of long-term loans	450.000	-
Provision for losses of affiliates	2.380.106	2.414.951
Trade and other creditors	482.564	648.000
Total current liabilities	3.312.670	3.062.951
Total equity and liabilities	143.984.483	126.831.432
Net asset per share - cents	65.29	61.88

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS for the period 1 January 2019 to 30 September 2019

	Nine months ended 30 September
	2019	2018
	€	€
Cash flow from operating activities
Profit before taxation	6.813.683	3.786.346
Adjustment for:
Depreciation of intangible fixed assets	62.739	68.728
Profit from disposal and revaluation of financial assets at fair price through
profit and loss	(6.489.474)	(3.382.416)
Loan interest receivables	135.618	-
Reversal of provision for share in loss from affiliates	(34.845)	(47.107)
Reversal of expected credit losses	(261.092)	-
Net cash flow before changes in working capital	226.626	425.551
Decrease /(Increase) in inventories	280.349	(37.593)
(Increase) / decrease in other receivables	85.809	(32.084)
Net purchases and sales of financial assets at fair value through profit and
loss	(49.304.026)	35.702.167
Increase in receivables from affiliates	(147.138)	(166.566)
Decrease / (Increase) in bank deposits	10.785.827	(6.154.335)
Decrease in trade and other creditors	(165.436)	(127.751)
Purchase of immovable property for investment	(194.738)	(421.779)
Redemption of financial assets	-	300.000
Cash for / (from) operating activities	(38.432.727)	29.487.610
Tax received / (paid)	(9.362)	72.638
Net cash for / (from) operating activities	(38.442.089)	29.560.248
Cash flow from investing activities
Purchase of intangible fixed assets	(52.536)	(30.363)
Net cash for investing activities	(52.536)	(30.363)
Cash flow from financing activities
Proceeds from new loans	10.500.000	-
Repayment of loans	(84.761)	-
Net cash from financing activities	10.415.239	-
Net (decrease) / increase in cash and cash equivalents	(28.079.386)	29.529.885
Cash and cash equivalents at beginning of period	30.989.211	1.222.815
Cash and cash equivalents at end of period	2.909.825	30.752.700

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY for the period 1 January 2019 to 30 September 2019

	Share capital	Exchange difference	Investments reserve	Accumulated Loss	Total equity
	€	reserve		€	€
		€	€
Balance as at 1 January 2018	140.000.000	319.437	(8.531)	(21.937.912)	118.372.994
Impact from the implementation of IFRS9	-	-	-	(571.505)	(571.505)
Adjusted balance as at 1 January 2018	140.000.000	319.767	(8.531)	(22.509.417)	117.801.489
Profit for the period	-	-	-	3.757.080	3.757.080
Other total income for the period	-	-	8.531	-	8.531
Balance as at 30 September 2018	140.000.000	319.437	-	(18.752.337)	121.567.100
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