Rolandos Enterprises Public LTD

Quarterly Report • Aug 28, 2015

Condensed interim consolidated statement of comprehensive income for the period from 1 January 2015 to 30 June 2015

	30/06/2015 €	30/10/2014 €
Turnover	1,831,479	2,273,622
Cost of sales	(1,077,094)	(1,199,975)
Gross profit	754,385	1,073,647
Other income	2,219	10,618
Distribution expenses	(479,952)	(411,441)
Administrative expenses	(674,935)	(716,821)
Finance costs	(7,301)	(20,992)
Finance income	3,484	27,117
(Losses) before taxation	(402,100)	(37,872)
Taxation	-	(18,391)
(Losses) for the period	(402,100)	(5,263)
Other comprehensive income Investments available for sale	(15,419)	-
(Losses) attributable to the Company's shareholders	(417,519)	(56,263)

Condensed interim consolidated statement of financial position as at 30 June 2015

	30/06/2015	31/12/2014
	€	€
Assets
Non-current assets
Property, plant and equipment	4,874,616	4,774,064
Other intangible assets	74,780	9,714
Investments available for sale	208,745	224,163
	5,158,141	5,007,941
Current assets
Stocks	949,112	1,160,224
Trade receivables	1,122,358	1,568,222
Other receivables and advance payments	288,541	311,520
Financial assets at fair value through profit and loss	2,070	2,070
Tax refundable	106,697	106,304
Cash and cash equivalents	6,217,708	6,134,793
Bank deposits	190,854	226,702
	8,877,340	9,509,835
Total assets	14,035,481	14,517,776
Equity and liabilities
Capital and reserves
Share capital	9,208,328	9,208,328
Financial assets available for sale reserve	94,981	110,400
Difference from the conversion of share capital into Euro	46,590	46,590
Annuity reserve	3,210,414	3,612,514
	12,560,313	12,977,832
Minority interest	--	--
	12,560,313	12,977,832
Current liabilities
Trade and other liabilities	807,678	862,436
Short-term liabilities	161,112	161,112
Current tax liabilities	282,314	289,723
Expenses due	224,064	226,673
	1,475,168	1,539,944
Total liabilities	1,475,168	1,539,944
Total equity and liabilities	14,035,481	14,517,776

Condensed interim consolidated statement of changes in net position for the period from 1 January 2015 to 30 June 2015

	Share capital	Fair value – financial assets available for sale reserve	Difference from the conversion of share capital into Euro	Annuity Reserve	Total
	€	€	€	€	€
Balance as at 1 January 2014 Net loss for the period	9,208,328	--	46,590	4,353,711	13,608,629
	--	--	--	(56,263)	(56,263)
Balance as at 30 June 2014	9,208,328	--	46,590	4,297,448	13,552,366
	€	€	€	€	€
Balance as at 1 January 2015 Net loss for the period	9,208,328	110,400	46,590	3,612,514	12,977,832
	--	(15,419)	--	(402,100)	(417,519)
Balance as at 30 June 2015	9,208,328	94,981	46,590	3,210,414	12,560,313

Condensed interim consolidated statement of cash flows for the period from 1 January 2015 to 30 June 2015

	30/06/2015	31/12/2014
	€	€
(Loss) from operations before tax	(402,100)	(37,872)
Cash flow from operations before changes in working capital
(Profit)/Loss from the sale of property, plant and equipment	(4,000)
Depreciations and amortization of plant, property and equipment	298,937	353,081
(income from interest)	(3,484)	(27,116)
Interest paid	-	20,991
(Profits) / Losses from a change in financial assets at fair value through
profit and loss	-	-
Write off and impairment of bad debts	66,945	10,697
Cash flow from operations before changes in working capital	(43,702)	319,781
Cash from / (for) operations
Decrease in stocks	211,111	252,653
Decrease in trade and other receivables	401,903	99,216
(Increase) / Decrease in trade and other payables	(58,255)	35,642
Cash from / (for) operations	511,057	707,292
Net cash flow from / (for) operating activities
Tax paid	(7,409)	(18,391)
Interest paid	-	(20,991)
Net cash flow from / (for) operating activities	503,648	667,910
Net cash flow from / (for) investing activities
Payment for the purchase of property, plant and equipment	(378,551)	(140,218)
Payment for the purchase of intangible assets	(81,500)	(5,950)
Interest received	3,484	27,116
(Increase) / Decrease of bank deposits	35,848	827,655
Net cash flow from / (for) investing activities	(420,719)	708,603
Net increase in cash and cash equivalents	82,929	1,376,513
Cash and cash equivalents at beginning of period	5,973,667	4,329,977
Cash and cash equivalents at end of period	6,056,596	5,706,490