CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER TOTAL INCOME for the year ended 31 December 2018

	2018 €	2017 €
Income
Cost of sales	1,172,715	431,362
	(991,172)	(320,476)
Gross profit
Other income	181,543	110,886
Impairment losses and other provisions	16,134	32,915
Selling and marketing expenses	-	(1,135,000)
Administrative expenses	(450)	(1,039)
	(262,960)	(221,637)

Loss from operations	(65,733)	(1,213,875)
Net finance cost	(124,326)	(94,696)
Share in (loss) / profit of associated company	(319,919)	76,821

Loss before taxation	(509,978)	(1,231,750)
Taxation	-	-
Net loss for the year	(509,978)	(1,231,750)
Other total income	-	-
Total expenses for the year	(509,978)	(1,231,750)
Net loss attributable to:
Shareholders' interest	(506,476)	(1,228,657)
Minority interest	(3,502)	(3,093)
	(509,978)	(1,231,750)

Loss per share (cents)	(10.54)	(25.57)

PHILOKTIMATIKI PUBLIC LIMITED

	2018 €	2017 €
ASSETS
Non-current Assets
Intangible fixed assets	148,349	152,826
Investment in associated company	10,534,678	10,854,597
Total non-current assets	11,683,027	11,007,423
Current assets
Inventories	993,427	993,427
Trade and other receivables	51,253	46,365
Receivables from affiliated compnies	607,920	607,920
Cash and cash equivalents	2,151	-
Total current assets	1,654,751	1,647,712
Total assets	12,337,778	12,655,135
NET POSITION AND LIABILITIES
Equity
Share capital	4,084,128	4,084,128
Premium reserve	293,239	293,239
Reserve from conversion of share capital into Euro	20,664	20,664
Accumulated profits	4,427,787	4,934,263
	8,825,818	9,332,294
Minority interest	58,745	62,247
Total equity	8,884,563	9,394,541
Long-term liabilities
Borrowings and bank overdrafts	150,000	800,000
Total long-term liabilities	150,000	800,000
Current liabilities
Borrowings and bank overdrafts	2,044,525	1,275,932
Trade and other creditors	97,512	49,662
Provisions	1,161,178	1,135,000
Total current liabilities	3,303,215	2,460,594
Total liabilities	3,453,215	3,260,594
Total equity and liabilities	12,337,778	12,655,135
Net assets per share - cents	1.84	1.84

	Share Capital €	Share premium reserve €	Reserve from the conversion of capital into euro €	Accumulated profits €	Total €	Minority interest €	Total equity €
Balance as at 1 January 2017	4.084.128	293.239	20.664	6.162.920	10.560.951	65.340	10.626.291
Net loss for the year after taxation	-	-	-	(1.228.657)	(1,228,657)	(3.093)	(1.231.750)
Balance as at 31 December 2017 / 1
January 2018	4.084.128	293.239	20.664	4.934.263	9,332,294	62.247	9.394.541
Net loss for the year after taxation	-	-	-	(506,476)	(506,476)	(3,502)	(509,978)
Balance as at 31 January 2018	4.084.128	293,239	20,664	4.427.787	8.825.818	58.745	8.884.563

for the year ended 31 December 2018

	2018	2017
	€	€
CASH FLOW FROM OPERATING ACTIVITIES
Loss before taxation	(509,978)	(1,231,750)
Adjustments for:
Other income	(5,924)	-
Income from the sale of intangible fixed assets	-	(2,600)
Charge for provisions in the results	-	1,135,000
Debit interest	124,326	94,696
Depreciation of intangible fixed assets	15,592	15,088
Share of loss / (profit) in associated company	319,919	(76,821)

Net cash flow before changes in working capital	(56,065)	(66,387)
Changes in working capital
(Increase) / (decrease) in trade and other receivables	(4,888)	22,789
Decrease / (increase) in trade and other creditors	47,850	(15,706)

Net cash for operating activities	(13,103)	(59,304)

CASH FLOW FROM/FOR INVESTING ACTIVITIES
Purchase of intangible fixed assets	(5,191)	(43,466)
Proceeds from sale of intangible fixed assets	-	2,600

Net cash for investing activities	(5,191)	(40,866)
Proceeds from borrowings from shareholders	155,000	602,000
Repayments of bank borrowings	-	(351,908)
Interest paid	(97,860)	(91,569)
Net cash from financing activities	57,140	158,523

Net decrease in bank overdrafts	38,846	58,353

Bank overdrafts at beginning of year	(1,273,834)	(1,332,187)

Bank overdrafts at end of year	(1,234,988)	(1,273,834)