Demetra Holdings Plc

Quarterly Report • Aug 8, 2016

INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT AND LOSS ACCOUNT AND OTHER COMPREHENSIVE INCOME

for the period 1 January 2016 to 30 June 2016

	Six months ended 30 June
	2016	2015
	€	€
Income
Interest receivable and other finance income	532,019	796,595
Profit from sale, revaluation and exploitation of land and property	526,785	496,089
Loss from financial assets	(7,769,646)	(7,116,627)
	(6,710,842)	(5,823,943)
Operating expenses	(719,067)	(787,165)
Decrease in provisions for doubtful debts	-	2,166,199
Finance costs	(2,472)	(6,017)
Share in loss from affiliates	(79,690)	(57,557)
Loss before taxation	(7,512,071)	(4,508,483)
Taxation	(52,241)	(62,276)
Net loss for the period	(7,564,312)	(4,570,759)
Other comprehensive expenses
Items that may be reclassified to the consolidated statement of profit and
loss account in subsequent periods
Profit from revaluation of investments available for sale	8,956	10,981
Total expenses for the period	(7,555,356)	(4,559,778)
Net loss attributable to:
Shareholders of the Company	(7,564,312)	(4,570,759)
Earnings per share - cents	(3.78)	(2.29)

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

	30 June	31 December
	2016	2015
	€	€
ASSETS
Non-current assets
Intangible fixed assets	1,427,841	1,413,918
Immovable property for investment	31,824,594	31,427,940
Financial assets available for sale	256,731	247,775
Receivables from affiliates	9,809,439	9,550,750
Bank deposits	-	1,000,000
Deferred taxation	1,704,613	1,704,613
Total non-current assets	45,023,218	45,344,996
Current assets
Inventories	9,467,158	10,285,498
Loans and other receivables	496,325	1,031,686
Financial assets at fair value through profit and loss	33,865,109	41,368,958
Bank deposits	30,069,639	28,066,829
Cash and cash equivalents	863,159	1,237.799
Total current assets	74,761,390	81,990,770
Total assets	119,784,608	127,335,766
NET POSITION AND LIABILITIES
Equity
Share capital	140,000,000	140,000,000
Reserves	(22,128,333)	(14,572,977)
Total equity	117,871,667	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	1,095,778	1,016,088
Trade and other creditors	539,261	601,625
Current tax liabilities	254,562	267,690
Total current liabilities	1,889,601	1,885,403
Total equity and liabilities	119,784,608	127,335,766
Net asset per share - cents	58.94	62.71

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS for the period 1 January 2015 to 30 June 2016

	Six months ended 30 June
	2016	2015
	€	€
Cash flow from operating activities
Loss before taxation	(7,512,071)	(4,508,483)
Adjustments for:
Depreciation of intangible fixed assets	47,055	43,934
Loss from disposal of intangible fixed assets	-	3,732
Loss from disposal and revaluation of financial assets at fair value through
profit and loss	7,769,646	7,116,627
Share in loss from affiliates	79,690	57,557
Net cash flow before changes in working capital	384,320	2,713,367
Decrease / (increase) in inventories	818,340	(2,364,428)
Decrease in loans and other receivables	535,361	217,056
Net purchases and sales of financial assets at fair value through profit and
loss	(265,797)	(107,023)
Increase in receivables from affiliates	(258,689)	(565,606)
Increase in bank deposits	(1,002,810)	(22,049,000)
(Decrease) / increase in trade and other creditors	(62,364)	92,472
Cash from / (for) operating activities	148,361	(22,063,162)
Tax paid	(65,369)	(117,664)
Net cash from / (for) operating activities	82,992	(22,180,826)
Cash flow from investing activities
Purchase of intangible fixed assets	(60,978)	(23,240)
Purchase of immovable property for investment	(396,654)	(577,672)
Net cash for investing activities	(457,632)	(600,912)
Net decrease in cash and cash equivalents	(374,640)	(22,781,738)
Cash and cash equivalents at beginning of period	1,237,799	24,068,729
Cash and cash equivalents at end of period	863,159	1,286,991

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

	ha S re ita l ca p €	ha S re ita l ca p ion co nv ers res erv e €	ha Ex c ng e di f fer en ce res erv e €	Inv tm ts es en ai la b le av fo le r s a res erv e €	lat d Ac cu mu e los se s €	l To ta uit eq y €
lan Ba at ce as
1 J 20 15 an ua ry fo he rio d Lo r t ss pe he l in fo he d Ot rio r to ta r t co me pe	17 0, 00 0, 00 0 - -	86 0, 14 4 - -	31 9, 76 7 - -	( ) 10 1, 37 9 - 10 98 1	( ) 31 67 3, 69 9 , ( ) 0, 9 4, 57 75 -	13 9, 40 4, 83 3 ( ) 0, 9 4, 57 75 10 98 1
				,		,
lan Ba at ce as
30 20 Ju 15 ne	0, 00 0, 00 0 17	86 0, 14 4	31 9, 76 7	( ) 90 39 8 ,	( ) 36 24 8 4, 45 ,	13 84 05 4, 5, 5
Ba lan at ce as
1 J 20 16 an ua ry	14 0, 00 0, 00 0	86 0, 14 4	31 9, 76 7	( ) 52 22 5 ,	( ) 15 70 0, 66 3 ,	12 5, 42 7, 02 3
fo he d Lo rio r t ss pe	-	-	-	-	( ) 7, 56 4, 31 2	( ) 7, 56 4, 31 2
Ot he l in fo he rio d r to ta r t co me pe	-	-	-	8, 95 6	-	8, 95 6
lan Ba at ce as
30 Ju 20 16 ne	14 0, 00 0, 00 0	86 0, 14 4	31 9, 76 7	( ) 43 26 9 ,	( ) 23 26 4, 97 5 ,	11 7, 87 1, 66 7