Lordos Hotels (Holdings) Public LTD

Interim / Quarterly Report • Sep 20, 2017

Lordos Hotels (Holdings) Public Limited

CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME For the half year ended 30 June 2017

	30 June	30 June
	2017	2016
	€	€
Turnover	5.048.606	4.507.070
Cost of goods sold	(2.782.082)	(2.191.023)
Gross profit	2.266.524	2.016.047
Other income	36.0343	25.950
Marketing cost	(141.117)	(155.262)
Administrative expenses	(1.128.365)	(1.122.956)
Other operating expenses	(656.494)	(567.737)
Finance cost	(42.081)	(76.431)
Share in the results of associated company	629	(11.127)
Profit (loss) from investments	107	(1.821)
Profit before taxation	335.236	106.663
Taxation	(60.997)	(37.447)
Profit for the period	274.239	69.216
Other comprehensive income/(expenses) for the period
Amounts not to be recognized in the profit or (loss) in future periods:
Deferred tax adjustment	9.578	22.004
	9.578	22.004
Other comprehensive income for the period after taxation	9.578	22.004
Comprehensive income/(expenses) for the period	283.817	91.220
Net profit/ (loss) is allocated as follows:
Shareholders of parent company	284.398	83.355
Non-controlling interest	(10.159)	(14.139)
	274.239	69.216

CONDENSED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 30 June 2017

	30 June	31 December
	2017	2016
	€	€
ASSETS
Non-current assets
Property, plant and equipment	83.980.770	83.832.595
Intangibles	5.247	4.096
Investment in associated company	6.826.869	6.901.240
Financial assets at fair value through profit and loss	7.296	7.189
Loans receivable	1.228.413	1.202.463
	92.048.595	91.947.593
Current assets
Inventories	327.431	186.879
Trade and other receivables	1.143.493	860.274
Receivables from affiliates	14.564	18.549
Cash at bank and in hand	1.732.394	2.342.080
	3.217.882	3.407.782
TOTAL ASSETS	95.266.477	95.355.365
EQUITY AND LIABILITIES
Equity and reserves Share capital	11.903.113	11.903.113
Other reserves	62.300.222	62.025.101
	74.203.335	73.928.214
Non-controlling interest	4.146.899	4.157.359
Total equity	78.350.234	78.085.573
Non-current liabilities
Borrowings	1.372.294	1.722.127
Deferred tax liabilities	10.841.059	10.827.962
	12.213.353	12.550.089
Current liabilities
Trade and other creditors	3.710.713	3.600.123
Amounts payable to affiliates	212.643	136.536
Borrowings	674.890	935.880
Current tax liabilities	104.644	47.164
	4.702.890	4.719.703
Total liabilities	16.916.243	17.269.792
TOTAL NET POSITION AND LIABILITIES	95.266.477	95.335.365

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS

for the half year ended 30 June 2017

	30 June	30 June
	2017	2016
	€	€
Cash flow from operating activities
Profit before taxation	335.236	106.663
Adjustment for:
Depreciation of land, property and equipment	567.234	556.565
Instalments for intangibles	1.010	2.201
Finance cost	42.081	76.431
Share in loss of associated companies	(629)	11.127
Increase in the fair value of loans receivable	(25.950)	(25.950)
Gains / losses of fair values in financial assets at fair value through profit
and loss	(107)	1.821
Operating profit / (loss) before changes in working capital	918.875	728.858
Increase in inventories	(140.552)	(102.150)
Increase in trade and other receivables	(283.220)	(345.146)
Increase / decrease in receivables from affiliates	3.985	(14.110)
Increase in trade and other creditors	110.719	1.632.638
(Decrease) / Increase in payables to affiliates	76.107	(87.840)
Cash flow from operating activities	685.915	1.812.250
Finance cost paid	(42.089)	(76.431)
Net cash flow for operating activities	643.826	1.735.819
Cash flow from investing activities
Additions to land, property and equipment	(715.408)	(505.926)
Additions to intangibles	(2.303)	(1.026)
Collection of dividends from associated company	75.000	-
Net cash flow for investing activities	(642.711)	(506.952)
Cash flow from financing activities
Proceeds from new Loans	-	-
Repayment of loans	(610.801)	(464.398)
Net cash flow for financing activities	(610.801)	(464.398)
Net increase/decrease in cash and cash equivalents	(609.686)	764.469
Cash and cash equivalents as at 1 January	2.342.080	(1.427.471)
Cash and cash equivalents as at 30 June	1.732.394	(663.002)

Lordos Hotels (Holdings) Public Limited

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN NET POSITION

forthe half year ended 30 June 2017

		Eq uit	bu b le i ttr ta y a	he ha ho lde to t s re	f he t t c rs o pa ren om	pa ny
	f fe fro Di ren ce m
	ha S re	Fa ir	ha S re	lat d Ac cu mu e	f ion co nv ers o ha l ita s re ca p		No n l lin ntr co o g	l To ta
		lue va	ium pr em
	ita l ca p	res erv e	res erv e	f its pr o	int o E uro	l To ta	int st ere	uit eq y
	€	€	€	€	€	€	€	€
1 J 20 16 an ua ry	11 .90 3.1 13	51 .85 6.0 13	68 5.6 75	4.1 18 .69 9	60 .22 6	68 .62 3.7 76	3.9 82 .84 0	72 .60 6.6 16
fit fo he fir ha l f o f 2 Pro 01 6 r t st	-	-	-	83 .35 5	-	83 .35 5	( ) 14 .13 9	69 .21 6
Div i de ds n	-	-	-	( ) 35 0.0 91	-	( ) 35 0.0 91	-	( ) 35 0.0 91
fer d t De ati re ax on	-	( ) 22 .00 4	-	-	-	( ) 22 .00 4	-	( ) 22 .00 4
l lin int No tro st n-c on g ere	-	59 0	-	-	-	59 0	( ) 59 0	-
30 20 16 Ju ne	.90 3.1 13 11	.83 4.6 49 51	68 5.6 75	3.8 .96 3 51	60 .22 6	68 .33 5.6 26	3.9 68 .11 1	72 .30 3.7 37
fit fo he nd ha l f o f 2 Pro 01 6 r t se co	-	-	-	2.2 67 .33 0	-	2.2 67 .33 0	14 9.6 64	2.4 16 .99 4
lua tio f lan d Re va n o	-	3.4 53 .25 0	-	-	-	3.4 53 .25 0	87 .78 4	3.5 41 .03 4
fer d t De ati re ax on	-	( ) 62 9.8 63	-	-	-	( ) 62 9.8 63	-	( ) 62 9.8 63
ide nd Div s	-	-	-	( ) 35 0.0 93	-	( ) 35 0.0 93	( ) 48 .20 0	( ) 39 8.2 93
fer d t lua f p De ati tio rty re ax on on re va n o ro pe
f a d c cia te o sso om pa ny	-	85 1.9 64	-	-	-	85 1.9 64	-	85 1.9 64
be 31 D r 2 01 6 ec em	11 .90 3.1 13	55 .51 0.0 00	68 5.6 75	5.7 69 .20 0	60 .22 6	73 .92 8.2 14	4.1 57 .35 9	78 .08 5.5 73
fit fo he fir ha l f o f 2 Pro 01 6 r t st	-	-	-	28 4.3 98	-	28 4.3 98	( ) 10 .15 9	27 4.2 39
fer De d t ati re ax on	-	( ) 9.5 78	-	-	-	( ) 9.5 78	-	( ) 9.5 78
Div ide nd s				-		-		-
fen bu n d de nd b le by De i tio ivi ntr ce co n o s p ay a				-		-		-
he ha ho lde t s re rs
l lin No int tro st n-c on g ere	-	30 1	-	-	-	30 1	( ) 30 1	-
30 Ju 20 17 ne	11 .90 3.1 13	55 .50 0.7 23	68 5.6 75	6.0 53 .59 8	60 .22 6	74 .20 3.3 35	4.1 46 .89 9	78 .35 0.2 34