Lordos United Public LTD

Quarterly Report • Apr 25, 2019

CONSOLIDATED STATEMENT OF PROFIT AND LOSS ACCOUNT AND OTHER COMPREHENSIVE INCOME 31 December 2018

	2018	2017
	€	€
Turnover	20,560,869	18,961,039
Cost of sales	(15,502,860)	(14,262,034)
Gross profit	5,058,009	4,699,005
Other income	220,313	236,360
Net gain from disposal of property, plant and equipment	8,951	7,778
Gain from investing activities	349,202	864,386
Sales and distribution expenses	(3,630,987)	(3,526,033)
Administration expenses	(1,284,341)	(1,429,424)
Operating profit	721,147	852,072
Net finance costs	(359,859)	(426,579)
Share of results of affiliated companies before tax	(33,003)	(31,025)
Profit before taxation	394,291	394,468
Taxation	(124,935)	(128,365)
Net profit for the year	269,356	266,103
Other comprehensive income
Items that will or may be reclassified to profit or loss in subsequent
periods:
Exchange difference on translation and consolidation of the financial
statements of foreign companies	(75,879)	(37,439)
Other comprehensive income for the year	(75,879)	(37,439)
Comprehensive income for the year	193,447	228,664
Net profit for the year attributable to:
Shareholders of holding company	236,220	279,582
Minority interest	33,136	(13,479)
Net profit for the year	269,356	266,103
Comprehensive income for the year attributable to:
Shareholders of holding company	160,341	242,143
Minority interest	33,136	(13,479)
Comprehensive income for the year	193,477	228,664
Earnings per share attributable to the shareholders of the holding
company (cents)	0.47	0.55

CONSOLIDATED STATEMENT OF FINANCIAL POSITION 31 December 2018

	2018	2017
	€	€
ASSETS
Non-current assets
Property, plant and equipment	8,348,166	5,408,311
Investment property	10,239,324	9,894,808
Intangible assets	625,599	140,520
Other investments	5,126	5,126
Trade and other receivables	225,000	1,364,648
	19,443,215	16,813,413
Current assets
Inventories	9,353,286	8,495,930
Trade and other receivables	7,075,176	7,004,638
Tax refundable	71,007	71,045
Cash at bank and in hand	129,566	91,979
	16,629,035	15,663,592
Total assets	36,072,250	32,477,005
EQUITY AND LIABILITIES
Equity
Share capital	17,687,678	17,687,678
Share premium reserve	2,811,191	2,811,191
Foreign currency conversion reserve	(213,465)	(143,296)
Accumulated losses	(593,158)	(621,689)
	19,692,246	19,733,884
Minority interest	-	(124,318)
Total equity	19,692,246	19,609,566
Non-current liabilities
Borrowings	4,387,790	2,828,201
Deferred tax liabilities	1,331,165	1,170,917
	5,718,955	3,999,118
Current liabilities
Trade and other creditors	3,368,170	2,613,126
Investment in affiliated companies	-	33,003
Borrowings	7,292,879	6,222,192
	10.661,049	8.868,321
Total liabilities	16,380,004	12,867,439
Total equity and liabilities	36,072,250	32,477,005

	CONSOLIDATED STATEMENT OF CASH FLOWS

31 December 2018

CASH FLOW FROM OPERATING ACTIVITIES € € Profit before taxation 394,291 394,468 Adjustments for: Depreciation of property, plant and equipment 993,254 1,000,667 Exchange difference on conversion of non-current assets in foreign currency - 84,183 Exchange difference (40,467) (37,439) Depreciation of computer programmes 31,560 - Share of (profit)/ loss in affiliated companies (33,003) 31,025 (8,951) Gain on sale of property, plant and equipment (7,778) Gain on sale of assets classified as held for sale - (80,263) Gain on reasonable values in investment property (349,202) (864,386) (321) Credit interest (10) Debit interest 356,279 335,642 (Reversal of provisions) / Provisions for doubtful claims (50,614) 28,727 1,292,826 884,836 Changes in working capital: Increase in inventories and work in progress (857,356) (638,694) (Increase) / decrease in receivables (130,820) 3,091 Increase in trade and other creditors 759,730 6,863 Increase in the group's companies - 376,199 Cash from operations 1,064,380 632,295 Tax returned 38 685
Advance payments for purchase of property, plant and equipment - -
Net cash from operations 1,064,418 632,980
CASH FLOW FROM INVESTING ACTIVITIES
Payment for purchase of intangible assets (516,639) (50,965)
Payment for purchase of property, plant and equipment (2,870,171) (951,637)
Advance payment for purchase of property, plant and equipment - (1,064,898)
Payment for purchase of machinery for resale - (124,737)
Proceeds from sale of machinery for resale - 259
Proceeds from sale of property, plant and equipment 10,911 31,057
Interest received 321 10
Proceeds from sale of investments in subsidiary companies 74,750 -
Net cash for investing activities (3,300,828) (2,160,911)
CASH FLOW FROM FINANCING ACTIVITIES
Loan repayments (1,201,269) (782,868)
Proceeds from new loans 5,006,346 1,313,985
Payment of interest (356,279) (335,642)
Net cash from financing activities 3,448,798 195,475
Net increase / (decrease) in cash and cash equivalents 1,212,388 (1,332,456)
Cash and cash equivalents at beginning of year (5,405,142) (4,072,686)
Cash and cash equivalents at end of year (4,192,754) (5,405,142)

CONSOLIDATED STATEMENT OF CHANGES IN NET POSITION

31 December 2018

Equity attributable to Company Shareholders

			Co io nv er s n
		ha S re iu re m m	f fo ig o re n ie cu rre nc s	la d Ac te cu m u		in i M or
	S ha re	p re se rv e	re se rv e	lo ss es	l To ta	ty in te t re s	l To ta
	l i ta ca p	€	€	€	€	€	€
	€
la Ba 1 Ja 2 0 1 7 t nc e as a nu ar y	1 7, 6 8 7, 6 7 8	2, 8 1 1, 1 9 1	( ) 1 0 5, 8 5 7	( ) 9 0 1, 2 7 1	1 9, 4 9 1, 7 4 1	( ) 1 1 0, 8 3 9	1 9, 3 8 0, 9 0 2
f i fo he Ne t p t t ro r y ea r	-	-	-	2 7 9, 5 8 2	2 7 9, 5 8 2	( ) 1 3, 4 7 9	2 6 6, 1 0 3
he he ive in O t r c om p re ns co m e
ha d i f fe Ex c ng e re nc e	-	-	( ) 3 7, 4 3 9	-	( ) 3 7, 4 3 9	-	( ) 3 7, 4 3 9
la Ba 1 Ja 2 0 1 8 t nc e as a nu ar y as
io ly d ta te p re v us s	1 7, 6 8 7, 6 7 8	2, 8 1 1, 1 9 1	( ) 1 4 3, 2 9 6	( ) 6 2 1, 6 8 9	1 9, 7 3 3, 8 8 4	( ) 1 2 4, 3 1 8	1 9, 6 0 9, 5 6 6
f he l in i ia Im t o t t p ac
le f im io I F R S 9 ta t p m en n o	-	-	-	( ) 1 1 0, 7 9 7	( ) 1 1 0, 7 9 7	-	( ) 1 1 0, 7 9 7
la 2 0 8 Ba 1 Ja 1 t nc e as a nu ar y as
d d j te a us	1 7, 6 8 7, 6 7 8	2, 8 1 1, 1 9 1	( ) 1 4 3, 2 9 6	( ) 7 3 2, 4 8 6	1 9, 6 2 3, 0 8 7	( ) 1 2 4, 3 1 8	1 9, 4 9 8, 7 6 9
f i fo he Ne t p t t ro r ea r y	-	-	-	2 3 6, 2 2 0	2 3 6, 2 2 0	3 3, 3 6 1	2 6 9, 3 6 5
he he ive in O t r c om p re ns co m e
ha d i f fe Ex c ng e re nc e	-	-	( ) 0, 6 9 7 1	-	( ) 0, 6 9 7 1	( ) 0 5, 7 1	( ) 8 9 7 5, 7
br h fo d M in i ty t or ou g rw ar	-	-	-	( ) 9 6, 8 9 2	( ) 9 6, 8 9 2	9 6, 8 9 2	-
la be Ba 3 1 De 2 0 1 8 t nc e as a ce m r	1 7, 6 8 7, 6 7 8	2, 8 1 1, 1 9 1	( ) 2 1 3, 4 6 5	( ) 5 9 3, 1 5 8	1 9, 6 9 2, 2 4 6	-	1 9, 6 9 2, 2 4 6