Lordos United Public LTD

Earnings Release • Sep 27, 2018

LORDOS UNITED PLASTICS PUBLIC LTD

UNAUDITED CONSOLIDATED PROFIT AND LOSS ACCOUNT For the period 1 January 2018 to 30 June 2018

	01/01/2018-	01/01/2017-
	30/06/2018	30/06/2017
	€	€
Turnover	10.401.524	9.489.983
Cost of sales	(7.848.033)	(7.111.686)
Gross profit	2.553.491	2.378.297
Other income	14.757	41.681
Net (loss)/profit from the sale of property, plant and equipment	1.924	(2.713)
Distribution and selling expenses	(1.801.820) (1.765.879)
Administrative expenses	(574.890)	(654.159)
Profit/(Loss)from operations	193.462	339.672
Net finance cost	(243.857)	(179.592)
Share of results of associated companies before taxation	---	(3.609)
Profit /(Loss) before taxation	(50.395)	(185.974)
Taxation	--	--
Net profit/(loss) for the period	(50.395)	(185.974)
Other total income
Amounts which will or may be reclassified to profit or loss in later periods:
Exchange difference created from the translation and consolidation of the financial
statements of foreign companies	--	(1.439)
Other total income for the period	--	(1.439)
Net profit/(loss) for the period	(50.395)	(187.413)
Net profit/(loss) attributable to:
Shareholders of holding company	(49.344)	(183.960)
Non-controlling interest	(1.051)	(3.453)
Net profit/(loss)	(50.395)	(187.413)
Loss per share attributable to the shareholders of the holding
company (cents)	(0.099)	(0.36)

LORDOS UNITED PLASTICS PUBLIC LTD

UNAUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 30 June 2018

	30/06/2018 €	31/12/2017 €
Property, plant and equipment
Investment property	6.808.943 9.894.809	4.905.462 9.894.808
Intangible assets	76.887	76.887
Financial assets available for sale	5.126	5.126
Trade and other receivables	244.750	299.750
	17.030.515	15.182.033
Current assets
Stocks Trade and other receivables	9.338.524 7.725.545	9.062.412 8.054.727
Tax refundable	71.045	71.045
Cash at bank and in hand	145.615	106.788
	17.280.729	17.294.972
Total assets	34.319.003	32.477.005
EQUITY AND LIABILITIES
Equity
Share capital Share premium reserve	17.687.678 2.811.191	17.687.678 2.811.191
Other reserves	(143.296)	(143.296)
Accumulated (losses)	(671.033)	(621.689)
	19.684.540	19.733.884
Non-controlling interest	(125.369)	(124.318)
Total equity	19.559.171	19.609.566
Non-current liabilities
Borrowings	3.816.970	2.828.201
Deferred tax liabilities	1.170.917	1.170.917
	4.987.887	3.999.118
Current liabilities
Trade and other creditors	2.651.575	2.613.126
Investments in associated enterprises	33.003	33.003
Borrowings	7.087.367	6.222.192
	9.771.945	8.868.321
Total liabilities	14.759.832	12.867.439
Total equity and liabilities	34.319.003	32.477.005

LORDOS UNITED PLASTICS PUBLIC LTD

UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY For the period 1 January 2018 to 30 June 2018

	Equity attributable to the Company's shareholders
	Share Capital	Premium Reserve	Share	Foreign currencies exchange reserve		Accumulated (loss)/profit	Total	Non controlling interest		Total
	€		€	€		€	€		€	€
Balance as at 1 January 2017	17.687.678		2.811.191		(105.857)	(901.271)	19.256.581 (110.839)			19.380.902
Total income Net profit for the period Other total income		-	-		-	279.582	279.582	(13.479)		266.103
for the period		-	-		(37.439)	-	(37.439)		-	(37.439)
Balance as at 31 December 2017	17.687.678		2.811.191		(143.296)	(621.689)		19.733.884 (124.318)		19.609.566
Balance as at 31 December 2017/1 January 2018	17.687.678		2.811.191		(143.296)	(621.689)	19.733.884		(124.318)	19.609.566
Total income Net profit for the period Other total expenses		-	-		-	(50.395)	(50.935)		-	(50.395)
for the period Loss attributable to non-controlling interest		- -	- -		-	- 1.051		1.051	- (1.051)	- -
Balance as at 30 June 2018	17.687.678		2.811.191		(143.296)	(671.033)	19.300.866			(125.369) 19.559.171

LORDOS UNITED PLASTICS PUBLICLTD

UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS For the period 1 January 2018 to 30 June 2018

	01/01/2018- 30/06/2018 €	01/01/2017- 30/06/2017 €
CASH FLOW FROM OPERATIONS Profit/(Loss) before taxation	(50.395)	(185.974)
Adjustments for: Depreciation of property, plant and equipment Exchange difference from the conversion of non-current assets to a foreign	495.698	506.933
στοιχείων Currency Exchange difference arising from the translation and consolidation	7.578	(3.956)
of the financial statements of foreign companies Share of loss from associated companies	-- --	1.439 3.609
Profit/(loss) from the sale of property, plant and equipment Credit interest	(1.924) (255)	2.713 (1.410)
Debit interest	182.397	177.887
Cash flow from operations before changes in working Capital
(Increase) / Decrease in stocks	617.946 (276.112)	501.241 120.398
Decrease / (Increase) in trade and other receivables (Decrease) / Increase in trade and other creditors	384.182 38.449	(401.424) (534.388)
Cash flow from operations Tax refunded	764.462 ---	(314.173) ---
Net cash flow from operations	764.462	(314.173)
CASH FLOW FROM INVESTING ACTIVITIES
Payment for the purchase of property, plant and equipment	(2.397.437)	(172.647)
Receipt from the sale of property, plant and equipment Interest received	-- 255	7.200 1.410
Net cash flow for investing activities	(2.397.182)	(164.037)
CASH FLOW FROM FINANCING ACTIVITIES
Repayments of loans	(529.189)	(52.472)
Proceeds from new loans Payment of interest	1.581.117 (182.397)	179.834 (177.887)
Net cash flow from/(for) financing activities	869.531	(50.525)
Net increase/(decrease) in cash and cash equivalents	(763.189)	(528.735)
Cash and cash equivalents: At beginning of period		(5.390.333) (4.072.686)
At end of period		6.153.522 (4.601.421)