K + G Complex Public Company LTD

Earnings Release • Sep 1, 2016

Interim Condensed Consolidated Statement of Comprehensive Income for the period from 1 January 2016 to 30 June 2016

	30 June 2016 Unaudited €	30 June 2015 Unaudited €
Sales Cost of sales	2.811.000 (617.826)	1.159.000 (205.240)
Gross profit	____ 2.193.174	____ 953.760
Administrative expenses	(260.065)	(269.318)
Selling and marketing expenses Other income	(104.124) 240.710	(93.113) 306.028
Operating profit	____ 2.069.695	____ 897.357
Finance costs Share of profit of investment in associates	(397.455) 609.223	(456.165) 5.621
Profit before tax Tax	_ 2.281.463 - _	_ 446.813 (272) _
Profit for the period	2.281.463	446.541
Other comprehensive income Share of movement of reserves of associates	____ 13.383	____ -
Total comprehensive income for the period	____ 2.294.846	____ 446.541
Profit per share (cent per share): - Basic and fully diluted	========== 1,78 ==========	========== 0,35 ==========

Interim Condensed Consolidated Balance Sheet at 30 June 2016

	30 June	31 December
	2016 Unaudited	2015
	€	€
Assets
Non-current assets
Property, plant and equipment	-	20.680
Investments in associates	85.025.242	84.402.636
Non-current receivables	2.980.565	4.504.512
	_____ 88.005.807	_____ 88.927.828
	_____	_____
Current assets
Inventories	5.980.314	6.592.141
Trade and other receivables	7.613.833	7.003.240
Tax refundable	92.983	92.981
Cash and cash equivalents	729 _____	- _____
	13.687.859	13.688.362
Total Assets	_____ 101.693.666	_____ 102.616.190
	===========	===========
Equity and Liabilities Share Capital Share Premium	21.859.647 1.757.006	21.859.647 1.757.006
Reserve of changes in equity of associates	(8.247.946)	(8.261.329)
Reserve arising on translation of share capital into Euro	86.014	86.014
Retained Earnings	68.825.605	66.544.142
	_____	_____
Total Equity	84.280.326 _____	81.985.480 _____
Non-current liabilities
Borrowings	15.957.277	17.824.595
Deferred income tax liabilities	19.700 _____	19.700 _____
	15.976.977	17.844.295
	_____	_____
Current liabilities Trade and other payables	485.908	537.046
Borrowings	950.455	2.248.466
Tax liabilities	-	903
	_____	_____
	1.436.363	2.786.415
Total Liabilities	_____ 17.413.340	_____ 20.630.710
	_____	_____
Total Equity and Liabilities	101.693.666	102.616.190
	===========	===========

Interim Condensed Consolidated statement of changes in equity for the period from 1 January 2016 to 30 June 2016

	Share capital €	Share premium €	Reserve arising on translation of share capital into Euros €	Reserve of changes in equity of associates €	Retained earnings €	Total €
Balance at 1 January 2015	21.859.647	1.757.006	86.014	(7.631.114)	66.343.932	82.415.485
Comprehensive Income Profit for the period	___ -	___ -	___ -	____ -	___ 446.541	___ 446.541
Total Comprehensive Income for the period	_ - _	_ - _	_ - _	_ - _	_ 446.541 _	_ 446.541 _
Balance at 30 June 2015 (unaudited)	21.859.647 =========	1.757.006 =========	86.014 =========	(7.631.114) ==========	66.790.473 =========	82.862.026 =========
Balance at 1 January 2016 (unaudited)	21.859.647	1.757.006	86.014	(8.261.329)	66.544.142	81.985.480
Comprehensive Income Profit for the period	___ -	___ -	___ -	____ -	___ 2.281.463	___ 2.281.463
Other Comprehensive Income for the period Share of reserves of associates	___ -	___ -	___ -	____ 13.383	___ -	___ 13.383
Total Comprehensive Income for the period	___ -	___ -	___ -	____ 13.383	___ 2.281.463	___ 2.294.846
Balance at 30 June 2016 (unaudited)	___ 21.859.647 =========	___ 1.757.006 =========	___ 86.014 =========	____ (8.247.946) ==========	___ 68.825.605 =========	___ 84.280.326 =========

Interim Condensed Consolidated statement of cash flows for the period from 1 January 2016 to 30 June 2016

	30 June 2016	30 June 2015
	Unaudited €	Unaudited €
Cash flows from operating activities Cash from operations	2.373.045	1.003.018
Net cash from operating activities	___ 2.373.045	___ 1.003.018
Cash flows from investing activities	___	___
Interest received Release of bank deposits Loans granted to related parties Repayments of loans from related parties	45 - - 1.255.235	909 60.350 (185.200) 20.000
Net cash from / (used in) investing activities	____ 1.255.280	____ (103.941)
Cash flows from financing activities Repayments of loans Interest paid	____ (1.845.000) (420.196)	____ (218.061) (456.154)
Net cash used in financing activities	____ (2.265.196)	____ (674.215)
Net increase in cash, cash equivalents and bank overdrafts Cash, cash equivalents and bank overdrafts at the	____ 1.363.129	____ 224.862
beginning of the period	(2.248.466) ____	(2.769.362) ____
Cash, cash equivalents and bank overdrafts at the end of the period	(885.337) ==========	(2.544.500) ==========