Salamis Tours (Holdings) Public LTD

Annual / Quarterly Financial Statement • Apr 30, 2018

CONSOLIDATED STATEMENT OF PROFIT AND LOSS Year ended 31 December 2017

2017 2016 € € Turnover 44.117.366 39.245.144 Cost of sales (31.404.123) (30.802.567) Gross profit 12.713.243 8.442.577 Other operating income 207.967 191.516 Depreciation (1.506.090) (1.987.239) Sales expenses (327.784) (237.245) Administrative expenses (4.382.092) (4.096.232) Charge for depreciation in the value of financial assets (127.373) - Operating profit 6.577.871 2.313.377 Net finance costs (918.732) (21.590) Net profit/(loss) from the disposal of property, vessels, plant and equipment (614) 4.791.093 Profit before taxation 5.658.525 7.082.880 Taxation (401.692) (180.022) Net profit for the year 5.256.833 6.902.858 Net profit for the year attributable to: Shareholders of parent company 5.179.900 6.794.571 Minority interest 76.933 108.287 Net profit for the year 5.256.833 6.902.858 Profit per share attributable to the shareholders of the parent company (cents) 14.18 18.60

CONSOLIDATED STATEMEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME Year ended 31 December 2017

	Reviewed
	2017 €	2016 €
Net profit for the year	5.256.833	6.902.858
Other comprehensive income
Items not to be reclassified to profit or loss in subsequent periods Adjustment at fair value of land and buildings Deferred taxation on revaluation of property	30.990 (2.975) 28.015	1.438.240 (159.712) 1.278.528
Items that will or may be reclassified to profit or loss in subsequent periods:
Financial assets available for sale – Fair value gains /(losses)	332.146	(277.405)
	332.146	(277.405)
Other comprehensive income for the year after taxation	350.161	1.001.123
Comprehensive income for the year	5.606.994	7.903.981
Net profit for the year attributable to: Shareholders of the parent company Minority interest	5.530.061 76.933 5.606.994	7.795.694 108.287 7.903.981

CONSOLIDATED STATEMENT OF FINANCIAL POSITION 31 December 2017

	Reviewed
	2017 €	2016 €
ASSETS
Non-current assets
Property, vessels, plant and equipment	16.822.008	12.806.979
Financial assets available for sale	2.061.247	1.866.474
Trade and other receivables	341.720	341.720
	19.224.975	15.015.173
Current assets
Inventories	514.789	195.198
Trade and other receivables Cash at bank and in hand	2.502.614 15.388.640	8.951.914 10.863.258
	18.406.043	20.010.370
Total assets	37.631.018	35.025.543
EQUITY AND LIABILITIES
Equity
Share capital	15.707.529	15.707.529
Share premium reserve	937.067	937.067
Fair value reserve – reviewed	3.594.010	3.243.849
Accumulated profits	11.393.534	9.135.965
	31.632.140	29.024.410
Minority interest	136.585	63.117
Total equity	31.768.725	29.087.527
Non-current liabilities
Trade and other creditors	607.266	719.766
Deferred tax liabilities	970.428	970.518
	1.577.694	1.690.284
Current liabilities
Trade and other creditors	3.843.826	4.134.752
Borrowings	284.034	68.799
Current tax liabilities	80.927	18.914
Dividend payable	75.812	25.267
	4.284.599	4.247.732
Total liabilities	5.862.293	5.938.016
Total equity and liabilities	37.631.018	35.025.543

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Year ended 31 December 2017

	Share capital €	Share premium reserve €	Other reserves €	Accumulated profits €	Minority interest €	Total €
Balance as at 1 January 2016	15,707,529	937,067	2,242,726	2,866,227	(39,230)	21,714,319
Comprehensive income Net profit for the year	-	-	-	6,794,571	108,287	6,902,858
Other comprehensive expenses for the year – as reviewed	-	-	1,001,123	-	-	1,001,123
Comprehensive income for the year	-	-	1,001,123	6,794,571	108,287	7,903,981
Transactions with shareholders Dividends	-	-	-	(524,833)	-	(524,833)
Total transactions with owners	-	-	-	(524,833)	-	(524,833)
Other changes Dividends payable by a subsidiary in minority interest	-	-	-	-	(5,940)	(5,940)
Total other changes	-	-	-	-	(5,940)	(5,940)
Balance as at 31 December 2016 / 1 January 2017 as reviewed Comprehensive income	15,707,529	937,067	3,243,849	9,135,965	63,117	29,087,527
Net profit for the year Other comprehensive income for the	-	-	-	5,179,900	76,933	5,256,833
year	-	-	350,161	-	-	350,161
Comprehensive income for the year Transactions with shareholders Dividends	- -	- -	350,161 -	5,179,900 (2,922,331)	76,933 -	5,606,994 (2,922,331)
Total transactions with owners	-	-	-	(2,922,331)	-	(2,922,331)
Other changes Dividends payable by subsidiary in
minority interest	-	-	-	-	(3,465)	(3,465)
Total other changes Balance as at 31 December 2017	- 15,707,529	- 937,067	- 3,594,010	- 11,393,534	(3,465) 136,585	(3,465) 31,768,725