Demetra Holdings Plc

Quarterly Report • Nov 27, 2015

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

for the period from 1 January 2015 to 30 September 2015

	Nine months ended
	30 September
	2015	2014
	€	€
Income
Dividends receivable	304,637	330,398
Interest receivable and other finance income	1,094,289	1,676,897
Profit from the sale, revaluation and exploitation of land and immovables	749,457	780,818
Loss from financial assets	(10,769,484)	(149,960)
	(8,621,101)	2,638,153
Operating expenses	(1,132,137)	(1,154,197)
Decrease /(increase) in provisions for bad debts	2,166,199	(165,226)
Finance costs	(6,780)	(2,598)
Share in loss from affiliates	(130,561)	(133,018)
(Loss)/profit before taxation	(7,724,380)	1,183,114
Taxation	(94,830)	(162,716)
(Net loss)/net profit for the period	(7,819,210)	1,020,398
Other comprehensive expenses
Amounts to be re-classified in the consolidated statement of profit or loss in
future periods
Profit from revaluation of investments available for sale	17,132	14,518
Total (expenses) /income for the period	(7,802,078)	1,034,916
(Net loss)/net profit attributable to:
Shareholders of the company	(7,819,210)	1,020,398
(Loss)/profit per share – cent	(3,91)	0,51

INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 30 September 2015

	30 September	31 December
	2015	2014
	€	€
ASSETS
Non-current assets
Intangible fixed assets	1,405,486	1,446,380
Immovable property for investment	32,727,343	32,146,077
Financial assets available for sale	215,753	198,621
Bank deposits	1,000,000	1,000,000
Deferred taxation	1,623,762	1,623,762
Total non-current assets	36,972,344	36,414,840
Current assets
Inventories	10,801,174	8,723,212
Loans and other receivables	1,196,408	1,118,332
Receivables from affiliates	9,045,055	8,152,615
Financial assets at fair value through profit and loss	46,028,292	56,690,754
Bank deposits	28,070,654	5,781,730
Cash and cash equivalents	1,174,989	24,068,729
Total current assets	96,316,572	104,535,372
Total assets	133,288,916	140,950,212
NET POSITION AND LIABILITIES
Equity
Share capital	170,000,000	170,000,000
Reserves	(38,397,245)	(30,595,167)
Total equity	131,602,755	139,404,833
Non-current liabilities
Deferred taxation	45,017	45,017
Total non-current liabilities	45,017	45,017
Current liabilities
Provision for losses of affiliates	784,905	654,343
Trade and other creditors	620,359	528,240
Current tax liabilities	235,880	317,779
Total current liabilities	1,641,144	1,500,362
Total equity and liabilities	133,288,916	140,950,212
Net asset per share - cent	65,80	69,70

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

	Nine months ended 30 September
	2015	2014
	€	€
Cash flow from operating activities
(Loss)/Profit before taxation	(7.724.380)	1.183.114
Adjustments for:
Depreciation of intangible fixed assets	66.492	61.200
Loss/(profit) from disposal of intangible fixed assets	3.732	(5.600)
Loss from disposal and revaluation of financial assets at fair value through
profit and loss	10.769.484	(149.960)
Share in loss from affiliates	130.561	133.018
Net cash flow before changes in working capital	3.245.889	1.521.692
Increase in inventories	(2.077.962)	-
(Increase) / decrease in trade and other receivables	(78.076)	774.863
Net purchases and sales of financial assets at fair value through profit and
loss	(107.022)	344.035
Increase in receivables from affiliates	(892.440)	(2.793.261)
(Increase)/decrease in bank deposits	(22.288.924)	13.634.794
Increase in trade and other creditors	92.119	17.157
Cash flow (for)/from operating activities	(22.106.416)	13.499.280
Tax paid	(176.729)	(350.808)
Net cash flow (for)/from operating activities	(22.283.145)	13.148.472
Cash flow from investing activities
Purchase of intangible fixed assets	(29.329)	(104.242)
Proceeds from sale of intangible fixed assets	-	5.600
Purchase of immovable property for investment	(581.266)	(159.828)
Net cash flow for investing activities	(610.595)	(258.470)
Net (decrease)/increase in cash and cash equivalents	(22.893.740)	12.890.002
Cash and cash equivalents at beginning of period	24.068.729	35.419.875
Cash and cash equivalents at end of period	1.174.989	48.309.877

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY for the period from 1 January 2015 to 30 September 2015

	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 f fer di 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 Lo sse s €	l To ta uit eq y €
lan Ba at ce as				€
1 J 20 14 an ua ry	17 0, 00 0, 00 0	86 0, 14 4	31 9, 76 7	( ) 12 0, 30 0	( ) 18 17 0, 62 8	15 2, 88 8, 98 3
fit fo he rio d Pro r t pe	-	-	-	-	, 1, 02 0, 39 8	1, 02 0, 39 8
he l in fo he d Ot rio r to ta r t co me pe	-	-	-	14 51 8 ,	-	14 51 8 ,
lan Ba at ce as
30 Se be r 2 01 4 te p m	17 0, 00 0, 00 0	86 0, 14 4	31 9, 76 7	( ) 10 78 2 5,	( ) 17 15 0, 23 0 ,	15 3, 92 3, 89 9
lan Ba at ce as
20 1 J 15 an ua ry	0, 00 0, 00 0 17	86 0, 14 4	31 9, 76 7	( ) 10 37 9 1,	( ) 31 67 3, 69 9 ,	13 9, 40 83 3 4,
fo he d Lo rio r t ss pe	-	-	-	-	( ) 7, 81 9, 21 0	( ) 7, 81 9, 21 0
Ot he l in fo he rio d r to ta r t co me pe	-	-	-	17 13 2 ,	-	17 13 2 ,
lan Ba at ce as
be 30 Se r 2 01 5 te p m	17 0, 00 0, 00 0	86 0, 14 4	31 9, 76 7	( ) 84 24 7 ,	( ) 39 49 2, 90 9 ,	13 1, 60 2, 75 5