The Cyprus Cement Public Company LTD

Interim / Quarterly Report • Sep 28, 2017

THE CYPRUS CEMENT PUBLIC COMPANY LIMITED

Interim Condensed Consolidated Financial Statements

For the period from 1 January 2017 to 30 June 2017

Interim Condensed Consolidated Income Statement and other Comprehensive Income For the period from 1 January 2017 to 30 June 2017

	30 June 2017 Unaudited €000	30 June 2016 Unaudited €000
Revenue Operating and administrative expenses Other income Other losses	- (550) 215 (8.760)	301 (755) - -
Operating loss	___ (9.095)	___ (454)
Finance costs Share of profit from investments accounted for using	(306)	(661)
equity method	2.994 ___	3.010 ___
(Loss)/Profit before tax Taxation	(6.407) 8.760	1.895 (2)
Profit for the period	___ 2.353	___ 1.893
Profit for the period attributable to: Owners of the company Non-controlling interest	========= 2.360 (7) ___	========= 1.897 (4) ___
	2.353 =========	1.893 =========
Other comprehensive income Share of reserves of investments accounted for using equity method	237	42
Total comprehensive income for the period	___ 2.590 =========	___ 1.935 =========
Profit per share attributable to the shareholders of the Company (cent per shares): Basic and fully diluted	1,71 =========	1,38 =========

Interim Condensed Consolidated Balance Sheet at 30 June 2017

	30 June	31 December
	2017	2016
	Unaudited €000	Audited €000
Assets
Non-current assets
Property, plant and equipment	32	51
Investment property	235.384	274.808
Investments accounted for using the equity method	57.394	56.692
Available for sale financial assets	20.703	20.703
	_____	_____
	313.513	352.254
Current assets	_____	_____
Loan receivables	9.328	-
Trade and other receivables	499	894
Cash and cash equivalents	1.891 _____	1 _____
	11.718 _____	895 _____
Total assets	325.231	353.149
	===========	===========
Equity and liabilities
Equity attributable to owners of the parent
Share capital	59.173 910	59.173
Share premium Fair value reserve	85.430	910 101.392
Revenue reserve	17.236	17.236
Other reserves	(15)	(15)
Retained earnings	110.185	91.635
	_____ 272.918	_____ 270.331
Non-controlling interest	_____ 6.784	_____ 6.798
	_____	_____
Total equity	279.702 _____	277.129 _____
Non-current liabilties
Borrowings	-	18.909
Deferred tax liabilities	45.365 _____	54.125 _____
	45.365	73.034
Current liabilities	_____	_____
Trade and other payables	111	209
Current tax liabilities	-	1
Borrowings	53 _____	2.776 _____
	164 _____	2.986 _____
Total liabilities	45.529	76.020
Total equity and liabilities	_____ 325.231	_____ 353.149
	===========	===========

Interim Condensed Consolidated statement of changes in equity for the period ended 30 June 2017

	Att rib ble of the Co uta to ow ne rs mp an y
	Sh are Ca ita l p €0 00	Sh are Pre mi um €0 00	Fa ir v alu e res erv e €0 00	Ot he r res erv es €0 00	Re ve nu e Re se rve €0 00	Re tai d ne Ea rni ng s €0 00	To tal €0 00	No n ntr olli co ng Int st ere €0 00	To tal uity eq €0 00
Ba lan 1 Ja 20 16 at ce nu ary	59 .17 3	91 0	10 1.4 38	17 .23 6	( 15 )	84 .42 0	26 3.1 61	6.8 10	26 9.9 72
Co reh siv e i mp en nc om e Pro fit for th eri od e p	_ -	_ -	__ -	__ -	__ -	_ 1.8 97	__ 1.8 97	_ ( 4)	__ 1.8 93
Ot he reh siv e i r c om p en nc om e Sh of f t o are re se rve s m ov em en iate d c nie ass oc om pa s	_ -	_ -	__ 42	__ -	__ -	_ -	__ 42	_ -	__ 42
fo To tal reh siv e i r th co mp en nco me e rio d pe	_ -	_ -	__ 42	__ -	__ -	_ 1.8 97	__ 1.9 39	_ ( 4)	__ 1.9 35
Ba lan 30 Ju 20 16 at ce ne (u ud ite d ) na	_ 59 .17 3 = === === === =	_ 91 0 === === === ==	__ 10 1.4 80 === === === ===	__ 17 .23 6 === === === ===	__ ( 15 ) === === === ===	_ 86 .31 7 === === === ==	__ 26 5.1 00 === === === ===	_ 6.8 06 === === === ==	__ 27 1.9 06 === === === ===
Ba lan 1 Ja 20 17 at ce nu ary	59 .17 3	91 0	10 1.3 92	17 .23 6	( 15 )	91 .63 5	27 0.3 31	6.7 98	27 7.1 29
Co reh siv e i mp en nc om e Pro fit for th eri od e p	_ -	_ -	__ -	__ -	__ -	_ 2.3 60	__ ( 7)	__ ( 7)	__ 2.3 53
Ot he reh siv e i r c om p en nc om e Sh of f t o are re se rve s m ov em en iate d c nie ass oc om pa s	_ -	_ -	__ 23 7	__ -	__ -	_ -	__ 23 7	__ -	__ 23 7
fo To tal reh siv e i r th co mp en nco me e rio d pe	- __ __ __ __	- __ __ __ __	23 7	-	-	- __ __ __ __	2.5 97	( 7)	2.5 90
nsf Tra to tro llin inte t er no n-c on g res	-	-	-	-	-	( ) 9	( ) 9	( 7)	( ) 16
Tra nsf be twe er en re se rve s	-	-	( 16 .20 0 )	-	-	16 .20 0	-	-	-
Ba lan 30 Ju 20 17 at ce ne (u ) ud ite d na	_ 59 .17 3 === === === =	_ 91 0 === === === ==	__ 85 .43 0 === === === ==	__ 17 .23 6 === === === ==	__ ( ) 15 === === === ===	_ 110 .18 5 === === === =	__ 27 2.9 18 === === === ==	__ 6.7 84 === === === ==	__ 27 9.7 02 === === === ==

Interim Condensed Consolidated statement of cash flows for the period ended 30 June 2017

	30 June 2017 Unaudited €000	30 June 2016 Unaudited €000
Cash flows from operating activities Cash used in operations	(485)	(507)
Net cash used in operating activities	_ (485) _	_ (507) _
Cash flows from investing activities Interest received Additions in investment property Proceeds from dividends received Proceeds from disposal of property investment Loans to related parties	214 (86) 2.548 30.750 (9.114) ____	- - - 550 - ____
Net cash from investing activities	24.313 ____	550 ____
Cash flows from financing activities Proceeds from new borrowings Repayments of borrowings Interest paid Net cash used in financing activities	380 (21.779) (306) _ (21.705) _	730 (2.531) (506) _ (2.307) _
Net increase/(decrease) in cash, cash equivalents and bank overdrafts Cash, cash equivalents and bank overdrafts at beginning of period	2.123 (285) ____	(2.264) 568 ____
Cash, cash equivalents and bank overdrafts at end of period	1.838 ==========	(1.695) ==========