Demetra Holdings Plc

Interim / Quarterly Report • Nov 28, 2016

INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME for the period 1 January 2016 to 30 September 2016

	Nine months ended 30 September
	2016	2015
	€	€
Income
Dividends receivable	380.797	304.637
Interest receivable and other finance income	798.404	1.094.289
Profit from the sale, revaluation and exploitation of land and immovables	764.278	749.457
Loss from financial assets	(7.784.673)	(10.769.484)
	(5.841.194)	(8.621.101)
Operating expenses	(1.060.955)	(1.132.137)
Decrease in provision for doubtful debts	-	2.166.199
Finance cost	(1.954)	(6.780)
Share in loss from affiliates	(566.099)	(130.561)
Loss before taxation	(7.470.202)	(7.724.380)
Taxation	(77.500)	(94.830)
Net loss for the period	(7.547.702)	(7.819.210)
Other comprehensive expenses
Amounts to be classified in the consolidated profit or loss account in future periods
Profit from revaluation of investments available for sale	14.185	17.132
Total expenses for the period	(7.533.517)	(7.802.078)
Net loss attributable to:
Shareholders of the Company	(7.547.702)	(7.819.210)
Loss per share - cent	(3.77)	(3.91)

INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 30 September 2016

	30 September	31 December
	2016	2015
	€	€
ASSETS
Non-current assets
Intangible fixed assets	1.409.421	1.413.918
Immovable property for investment	31.950.754	31.427.940
Financial assets available for sale	261.960	247.775
Receivables from affiliates	10.505.508	9.550.750
Bank deposits	-	1.000.000
Deferred taxation	1.704.613	1.704.613
Total non-current assets	45.832.256	45.344.996
Current assets
Inventories	9.467.158	10.285.498
Loans and other receivables	555.223	1.031.686
Financial assets at fair value through profit and loss	33.919.134	41.368.958
Bank deposits	29.846.489	28.066.829
Cash and cash equivalents	672.559	1.237.799
Total current assets	74.460.563	81.990.770
Total assets	120.292.819	127.335.766
NET POSITION AND LIABILITIES
Equity
Share capital	140.000.000	140.000.000
Reserves	(22.106.494)	(14.572.977)
Total equity	117.893.506	125.427.023
Non-current liabilities
Deferred taxation	23.340	23.340
Total non-current liabilities	23.340	23.340
Current liabilities
Provision for losses of affiliates	1.582.187	1.016.088
Trade and other creditors	558.030	601.625
Current tax liabilities	235.756	267.690
Total current liabilities	2.375.973	1.885.403
Total equity and liabilities	120.292.819	127.335.766
Net asset per share - cent	58.95	62.71

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS for the period 1 January 2016 to 30 September 2016

	Nine months ended 30 September
	2016	2015
	€	€
Cash flow from operating activities
Loss before taxation	(7.470.202)	(7.724.380)
Adjustment for:
Depreciation of intangible fixed assets	70.772	66.492
Loss from disposal of intangible fixed assets	-	3.732
Loss from disposal and revaluation of financial assets at fair price through
profit and loss	7.784.673	10.769.484
Share in loss from affiliates	566.099	130.561
Net cash flow before changes in working capital	951.342	3.245.889
Decrease / (increase) in inventories	818.340	(2.077.962)
Decrease /(increase) in loans and other receivables	476.463	(78.076)
Net purchases and sales of financial assets at fair value through profit and
loss	(334.849)	(107.022)
Increase in receivables from affiliates	(954.758)	(892.440)
Increase in bank deposits	(779.660)	(22.288.924)
(Decrease) / increase in trade and other creditors	(43.595)	92.119
Cash flow from/(for) operating activities	133.293	(22.106.416)
Tax paid	(109.434)	(176.729)
Net cash flow from / (for) operating activities	23.849	(22.283.145)
Cash flow from investing activities
Purchase of intangible fixed assets	(66.275)	(29.329)
Purchase of immovable property for investment	(522.814)	(581.266)
Net cash flow for investing activities	(589.089)	(610.595)
Net decrease in cash and cash equivalents	(565.240)	(22.893.740)
Cash and cash equivalents at beginning of period	1.237.799	24.068.729
Cash and cash equivalents at end of period	672.559	1.174.989

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY for the period 1 January 2016 to 30 September 2016

Share capital € Share capital conversion reserve € Exchange difference reserve € Investments available for sale reserve € Accumulated Loss € Total equity € Balance as at 1 January 2015 170.000.000 860.144 319.767 (101.379) (31.673.699) 139.404.833 Loss for the period - - - - (7.819.210) (7.819.210) Other total income for the period - - - 17.132 - 17.132 Balance as at 30 September 2015 170.000.000 860.144 319.767 (84.247) (39.492.909) 131.602.755 Balance as at 1 January 2016 140.000.000 860.144 319.767 (52.225) (15.700.663) 125.427.023 Loss for the period - - - - (7.547.702) (7.547.702) Other total loss for the period - - - 14.185 - 14.185 Balance as at 30 September 2016 140.000.000 860.144 319.767 (38.040) (23.248.365) 117.893.506