The Cyprus Cement Public Company LTD

Interim / Quarterly Report • Sep 20, 2019

THE CYPRUS CEMENT PUBLIC COMPANY LIMITED

Interim Condensed Consolidated Financial Statements

For the period from 1 January 2019 to 30 June 2019

Interim Condensed Consolidated Income Statement and other Comprehensive Income for the period from 1 January 2019 to 30 June 2019

	30 June 2019 Unaudited €000	30 June 2018 Unaudited €000
Revenue Operating and administrative expenses	174 (362)	135 (380)
Operating loss	___ (188)	___ (245)
Share of profit from investments accounted for using equity method	2.636	2.254
Profit before tax Taxation	___ 2.448 (6)	___ 2.009 -
Profit for the period	___ 2.441 =========	___ 2.009 =========
Other comprehensive income for the period Share of reserves movement of associated companies	2	(64)
Total comprehensive income for the period	___ 2.443 =========	___ 1.945 =========
Profit for the period attributable to: Owners of the company Non-controlling interest	2.447 (6) ___ 2.441 =========	2.015 (6) ___ 2.009 =========
Profit per share attributable to the shareholders of the Company (cent per shares): Basic and fully diluted	1,78 =========	1,46 =========

Interim Condensed Consolidated Balance Sheet at 30 June 2019

	30 June	31 December
	2019	2018
	Unaudited €000	Audited €000
Assets
Non-current assets
Property, plant and equipment	14	19
Investment property	238.113	238.108
Investments accounted for using the equity method	56.988	56.534
Investments held at fair value through other
comprehensive income	20.703	20.703
	_____	_____
	315.818	315.364
Current assets	_____	_____
Financial assets held at amortised cost	13.988	9.593
Other assets	86	513
Cash and cash equivalents at bank	6 _____	2.009 _____
	14.080	12.115
Total assets	_____ 329.898	_____ 327.479
	===========	===========
Equity and liabilities
Equity attributable to owners of the parent
Share capital Share premium	59.173 910	59.173 910
Fair value reserve	105.584	105.582
Revenue reserve	17.236	17.236
Other reserves	(15)	(15)
Retained earnings	96.601 _____	92.154 _____
	277.489	275.040
Non-controlling interest	_____ 6.767	_____ 6.773
	_____	_____
Total equity	284.256 _____	281.813 _____
Non-current liabilities
Deferred tax liabilities	45.213	45.213
Provisions	300 _____	300 _____
	45.513	45.513
Current liabilities	_____	_____
Trade and other payables	129 _____	153 _____
	129	153
Total liabilities	_____ 45.642	_____ 45.666
Total equity and liabilities	_____ 329.898	_____ 327.479
	===========	===========

Interim Condensed Consolidated statement of changes in equity for the period ended 30 June 2019

	Attributable to owners of the Company
	Share Capital €000	Share Premium €000	Fair value reserve €000	Other reserves €000	Revenue Reserve €000	Retained Earnings €000	Total €000	Non controlling Interest €000	Total equity €000
Balance at 1 January 2018	59.173	910	106.344	17.236	(15)	91.324	274.973	6.784	281.757
Comprehensive income Profit for the period	___ -	___ -	____ -	____ -	____ -	___ 2.015	____ 2.015	___ (6)	____ 2.009
Other comprehensive income Share of reserves movement of associated companies	___ -	___ -	____ (64)	____ -	____ -	___ -	____ (64)	___ -	____ (64)
Total comprehensive income for the period	___ -	___ -	____ (64)	____ -	____ -	___ 2.015	____ 1.951	___ (6)	____ 1.945
Balance at 30 June 2018 (unaudited)	___ 59.173 ===========	___ 910 ===========	____ 106.279 ============	____ 17.236 ============	____ (15) ============	___ 93.340 ===========	____ 276.923 ============	___ 6.778 ===========	____ 283.701 ============
Balance at 1 January 2019	59.173	910	105.582	17.236	(15)	92.154	274.040	6.773	281.813
Comprehensive income Profit for the period	___ -	___ -	____ -	____ -	____ -	___ 2.447	____ 2.447	____ (6)	____ 2.441
Other comprehensive income Share of reserves movement of associated companies	___ -	___ -	____ 2	____ -	____ -	___ -	____ 2	____ -	____ 2
Total comprehensive income for the period	_ - _	_ - _	_ 2 _	_ - _	_ - _	_ 2.447 _	_ 2.450 _	_ (6) _	_ 2.443 _
Balance at 30 June 2019 (unaudited)	59.173 ==========	910 ===========	105.584 ===========	17.236 ===========	(15) ============	94.601 ==========	277.489 ===========	6.767 ===========	284.256 ===========

Interim Condensed Consolidated statement of cash flows for the period ended 30 June 2019

	30 June 2019 Unaudited €000	30 June 2018 Unaudited €000
Cash flows from operating activities
Cash used in operations Taxation	(2.319) 6	(500) -
Net cash used in operating activities	____ (2.313)	____ (500)
Cash flows from investing activities	____	____
Proceeds from dividends received	2.184	2.912
Loans granted to related parties	(1.871)	(850)
Additions in investment property	(5)	-
Net cash from investing activities	_ 308 _	_ 2.062 _
Cash flows from financing activities Interest paid	-	-
Net cash used in financing activities	_ - _	_ - _
Net (decrease)/increase in cash and cash equivalents	(2.005)	1.562
Cash and cash equivalents at beginning of period	2.011	1.343
Cash and cash equivalents at end of period	____ 6	____ 2.905
	==========	==========