Digital Bros

Earnings Release • May 13, 2020

PRESS RELEASE

The Board of Directors of Digital Bros Group approves the Third Quarterly Report for period ended 31 March 2020 (first nine months of financial year 2019 – 2020)

FIRST NINE MONTHS RESULTS:

• REVENUES AT EURO 99.1 MILLION (+132.7%)
• EBIT AT EURO 10.2 MILLION
• NET PROFIT AT EURO 6.4 MILLION (EURO 7.8 MILLION NET OF THE NON-RECURRING ITEMS)
• FREE CASHFLOW GENERATION WAS AHEAD OF EXPECTATION AND AS A RESULT FINANCIAL NET DEBT REMAINED STABLE AT EURO 5.9 MILLION DESPITE CONTINUING INVESTMENTS MADE BY THE GROUP
• ✓ Consolidated gross revenues of €99.1 million more than doubled compared to €42.6 million on March 31 st , 2019 (+132.7% YoY) resulting from the performance of new videogames Control, Bloodstained and Journey to the Savage Planet
• ✓ EBIT of €10.2 million compared to negative €7.6 million at 31 March 2019
• ✓ Net profit of €6.4 million (€7.8 million net of the non-recurring items) compared to net loss of €5.9 million on March 31 st , 2019
• ✓ Net debt remained stable compared to December 31 st 2019, despite the investments made by the Group during the period
• ✓ Third quarter results showed a significant growth compared to Q3 2018/2019: revenues at €31.3 million (€12.4 million), EBIT at €6.2 million (€ -3.5 million), net profit at €4.4 million (€ -2.7 million)

RESULTS FOR THE FIRST NINE MONTHS OF FINANCIAL YEAR 2019–2020 (AT 31.03.2020)
Euro thousand	31.03.20	31.03.19	Change	Change %
Gross revenues	99,143	42,601	56,542	132.7%
Gross operating margin (EBITDA)	20,565	(1,640)	22,205	n.m.
Operating margin (EBIT)	10,207	(7,612)	17,819	n.m.
Profit/(loss) before tax	9,932	(7,502)	17,434	n.m.
Net profit/(loss)	6,381	(5,882)	12,271	n.m.
Net recurrent profit	7,779	(5,882)	13,661	n.m.

Milan, 13 May 2020 - The Board of Directors of Digital Bros Group (DIB:MI), which is listed on the STAR segment of Borsa Italiana and operates in the videogames market, today approved the quarterly report for the period ended 31 March, 2020 (first nine months of the fiscal year from July 1st, 2019 to June 30th, 2020).

Digital Bros Group's key consolidated results for the first nine months of financial year 2019-2020, together with prior period comparatives, are as follows:

• Gross consolidated revenues of €99.1 million, increased compared to €42.6 million on March 31 st , 2019 (+132.7% YoY).
• EBITDA of €20.6 million, increased compared to negative €1.6 million on March 31 st, 2019.
• EBIT of €10.2 million compared to negative €7.6 million on March 31 st, 2019.
• Profit before tax of €9.9 million compared to loss before tax of €7.5 million on March 31 st, 2019.
• Net profit of €6.4 million significantly increased compared to net loss of €5.9 million on March 31 st, 2019. Recurring profit of €7.8 million.

RESULTS BY OPERATING SEGMENT

The videogames Control, Indivisible and Journey to the Savage Planet were launched on all platforms during the period. The Nintendo Switch console versions of Indivisible and Journey to the Savage Planet are expected to be released in the last quarter of the fiscal year. The launches are part of the investment plan of new videogames started during the last quarter of the past fiscal year with the launch of Bloodstained. The release plan enabled a significant increase of revenues and of all financial margins.

During the third quarter of the fiscal year, the world has been materially affected by the Covid-19 pandemic. The precautionary measures adopted by governments around the world, to contain the spread of the contagion, locked people in their houses and caused the shutdown of numerous retail stores and chains. The free time from work and school significantly impacted the demand for home entertainment and increased the revenue stream coming from digital distribution improving the operating margins of the Group.

Consolidated gross revenues more than doubled in the first half to €99.1 million from €42.6 million A breakdown by operating segment for the period ended 31 March 2020 compared to the period ended 31 March 2019 is provided below:

Euro thousand	Gross revenue			Net revenue
	2020	2019	Change		2020	2019	Change
Premium Games	86,764	25,743	61,021	237.0%	81,275	24,304	56,971	234.4%
Italian Distribution	6,811	11,692	(4,881)	-41.7%	6,298	10,273	(3,975)	-38.7%
Free to Play	5,117	4,758	359	7.6%	5,117	4,758	359	7.6%
Other Projects	451	408	43	10.5%	451	408	43	10.5%
Total gross revenues	99,143	42,601	56,542	132.7%	93,141	39,743	53,398	134.4%

The Premium Games operating segment gross revenues amounted for 87% of the consolidated revenues and significantly increased (up by €61 million) as a result of the sales of Control, released on August 27th, 2019, Bloodstained, launched in June 2019 and Journey to the Savage Planet, launched in January 2020. Revenue from Control amounted to €30 million in the period while Bloodstained and Journey to the Savage Planet sales amounted to €9.9 million and €10.8 million respectively.

The Italian Distribution operating segment revenues decreased by €4.9 million, down by 41.7% compared to the same period of previous year as an effect of retail business activities closure during Covid-19 emergency.

The Free to Play operating segment revenue showed a 7.6% increase, following the positive performance of the videogame Gems of War, launched more five years ago.

Digital Bros Group's revenues and earnings by operating segments for the period are as follows:

Euro thousand	Premium Games	Italian Distribution	Free to Play	Other Projects	Holding	Total
Gross revenues	86,764	6,811	5,117	451	0	99,143
EBITDA	24,835	(1,160)	1,157	30	(4,297)	20,565
EBIT	16,571	(1,333)	(82)	(51)	(4,898)	10,207

Operating costs increased by €7.4 million due to higher marketing and advertising costs to support new videogames launches and payroll costs. The increase in operating costs has been proportionally lower than the increase in revenues.

Non-monetary costs increased by €4.4 million mainly because of higher depreciation of the Group's intellectual properties, €4.1 million, and the application of the new IFRS 16 for €897 thousand. Write-offs, mainly consisting of early cancelation of contracts, amounted for €1.2 million compared to €0.7 million on March 31, 2019

The profit before tax for the period ended 31 March 2020 amounted to €9.9, million, up by €17.4 million compared to the loss before tax of €7.5 million at March 31 st , 2019. Recurrent profit before tax was €11.1 million, up by €18.6 million compared to same period of previous year.

Net profit for the period amounted to €6.4 million compared to net loss of €5.9 million for the period ended 31 March 2019. Recurrent profit for the period was €7.8 million.

Net profit attributable to the shareholders of the Group was €6.4 million.

Basic profit per share and diluted profit per share were €0.45 compared to the net loss per share of €0.41 for the first nine months of last fiscal year.

NET FINANCIAL DEBTS

Better than expected, profitability and free cashflow generation meant that net debt remained stable at €5.9 million compared to December 31st, 2019 including the investments made by the Group during the third quarter.

Net debt decreased by €10.4 million compared to June 30th, 2019 including the application of the IFRS 16 (which resulted in a €5.5 million increase). Net financial debts, excluding the application of the IFRS 16, decreased by €15.8 million.

TREASURY SHARES

Pursuant to Art. 2428 paragraph 2.3 of the Italian Civil Code, it is hereby disclosed that at 31 st March 2020 Digital Bros S.p.A. did not hold any treasury shares, as no transactions have been performed in the period.

SIGNIFICANT EVENTS DURING THE PERIOD

The most significant events during the period were as follows:

• on October 28th, 2019, Digital Bros Group announced the deal with the studio Kojima Productions for the worldwide publishing rights of the PC version of the videogame Death Stranding. The Group expects to generate lifetime revenues in excess of €50 million from the PC version of the videogame. On March 2nd, 2020, it has been announced that the PC version of the videogame Death Stranding was expected to be released on June 2, 2020. On April 21st, 2020 the release date was moved to July 2020 following the temporary closure of the studio Kojima Productions for Covid-19 precautionary measures;
• On February 28th, 2020, the independent Director Paola Carrara resigned from the Board of Directors for personal reasons;
• On March 3rd, 2020, Digital Bros acquired the remaining 51% of Ovosonico S.r.l. for a total consideration of Euro 210 thousand. The studio, that is currently working on the development of one of the Group's IP, changed its company name in Avantgarden S.r.l.;
• On March 5th, 2020, the Group subscribed a settlement agreement with the Italian Tax Authorities (Agenzia delle Entrate) referred to the tax litigation for the years 2011-2015. This dispute is related to some operations of the subsidiary 505 Games S.p.A. which, based on the assessments conducted by the financial administration, would have been considered as royalty and therefore subject to withholding tax. Even if the Group considers the transactions as purchases of goods and/or services and does not agree, both in form and substance, with the claims of the Italian Tax Authorities, to avoid a potentially long and costly litigation, the Company has decided to enter into a conciliatory agreement. Following the above the Group recorded non-recurring costs for Euro 1.4 million at 31 December 2019. The amount includes interest of €580 thousand and penalties of €224 thousand together with potential credit losses of €594 thousand relating to potential unrecognized items from vendors against the withholding taxes the company will pay on their behalf;
• on March 5th, 2020 the Board of Directors appointed Laura Soifer as new Independent Director. The Board of Directors after having verified the independence requirements of the new Director, appointed Laura Soifer as member of the Control and Risks Committee and the Related Parties Committee.

COVID-19

The health and wellbeing of its employees have been Digital Bros' priority during Covid-19 pandemic. The Group has monitored the emergency since the beginning and anticipated precautionary measures, following the government authority's guidance, to guarantee employees' safety and ensure business continuity.

Among the measures undertaken, Digital Bros:

• activated remote working for the majority of its employees in all its offices around the world;
• implemented all prevention and protection measures, in view of offices' reopening, including sanitization of the workplace and provision of the individual protection equipment;
• activated a supplementary insurance coverage for all its Italian employees in the case of Covid-19 hospitalization.

SUBSEQUENT EVENTS

On April 21st, 2020, Digital Bros S.p.A., announced that the PC version of the videogame Death Stranding will be launched worldwide on July 14th, 2020 instead of June 2nd, 2020. The change came after the precautionary measures related to Coronavirus with the studio Kojima Productions, developer of the videogame, temporarily closing its Tokyo offices. The Group confirmed expected revenues in excess of Euro 50 million from the PC version of the videogame.

BUSINESS OUTLOOK

The investment plan in new videogames started last June with Bloodstained and continued with the releases of Control in August, Indivisible in October, and Journey to the Savage Planet in January 2020. It will be completed in the last quarter of the fiscal year with the launch of the console versions of the videogame Assetto Corsa Competizione and the Nintendo Switch versions of Indivisible and Journey to the Savage Planet. The launch of the videogame Death Stranding on PC was moved to next fiscal year, during July 2020. The revenue stream coming from the videogame Control is expected to continue also in the coming quarters due to the new contents' releases and the availability of the Steam version in August 2020.

According to this scenario, the Group expects to maintain significant revenues growth at the end of the fiscal year together with a significant improvement in all financial margins. The increased portion of revenues coming from digital distribution in the last quarter would improve the operating margins even if revenue will remain stable.

Considering the better than expected trend of net financial debts during the third quarter, which remained stable despite the significant investments made by the Group during the period, the Group forecasts a positive net financial position, gross of the IFRS 16 effect, at the end of the fiscal year.

ART. 154-BIS OF THE CONSOLIDATED FINANCE ACT

As required by paragraph 2, Art. 154-bis of the Consolidated Finance Act, Digital Bros Group's financial reporting manager, Stefano Salbe, declares that the information contained in this press release corresponds to the Group's underlying documents, books and accounting records.

This press release is available on the websites www.digitalbros.com and

DIGITAL BROS GROUP

Listed on the Star segment of Borsa Italiana, Digital Bros Group is a global company that has been operating since 1989 as a developer, publisher and distributor of game entertainment content – video games - in a global market through various channels: retail and digital – web, social, mobile. Digital Bros Group is active around the world through its own direct operations in Italy, the United States, the UK, France, Spain, Germany, China, Hong Kong and Japan, with approximately 210 employees. The Group's head office is located in Milan, from where all activities are coordinated. Digital Bros operates in three markets, namely, development, publishing and distribution, under its own brands 505 Games and Halifax.

For further information:

Digital Bros S.p.A. Stefano Salbe CFO Tel. + 39 02 413031 ir@digitalbros.com

FINANCIAL STATEMENTS

DIGITAL BROS GROUP

Consolidated statement of financial position at 31 March 2020

	Euro Thousand	31 March 2020	30 June 2019	Change
	Non-current assets
1	Property, plant and equipment	9,117	3,584	5,533	n.m.
2	Investment property	0	0	0	0
3	Intangible assets	30,778	18,341	12,437	67.8%
4	Equity investments	4,492	1,706	2,786	n.m.
5	Non-current receivables and other assets	5,702	9,322	(3,620)	-38.8%
6	Deferred tax assets	2,688	2,745	(57)	-2.1%
	Total non-current assets	52,777	35,698	17,079	47.8%
	Non-current liabilities
7	Employee benefits	(646)	(573)	(73)	12.7%
8	Non-current provisions	(81)	(81)	0	0
9	Other non-current payables and liabilities	(479)	(923)	444	-48.1%
	Total non-current liabilities	(1,206)	(1,577)	371	-23.5%
	Net working capital
10	Inventories	14,423	13,909	514	3.7%
11	Trade receivables	50,877	55,070	(4,193)	-7.6%
12	Tax credits	5,479	6,076	(597)	-9.8%
13	Other current assets	6,178	1,668	4,510	n.s.
14	Trade payables	(36,854)	(24,631)	(12,223)	49.6%
15	Taxes payable	(5,332)	(1,138)	(4,194)	n.s.
16	Current provisions	0	(856)	856	n.s.
17	Other current liabilities	(9,525)	(3,761)	(5,764)	n.s.
	Total net working capital	25,246	46,337	(21,091)	-45.5%
	Capital and reserves
18	Share capital	(5,704)	(5,704)	0	0
19	Reserves	(20,871)	(21,223)	352	-1.7%
20	Treasury shares	0	0	0	0
21	Retained earnings (accumulated losses)	(43,707)	(37,298)	(6,409)	17.2%
	Total equity Equity attributable to minority shareholders	(70,282) (656)	(64,225) 0	(6,057) (656)	9.4% n.m.
	Total net assets	5,879	16,233	(10,354)	-63.8%
22	Cash and cash equivalents	9,131	4,767	4,364	91.5%
23	Short-term payables to banks	(14,822)	(20,795)	5,973	-28.7%
24	Other current financial assets and liabilities	(11,336)	2,155	(13,491)	n.m.
	Current net cash/debt	(17,027)	(13,873)	(3,156)	22.7%
25	Non-current financial assets	16,900	1,942	14,958	n.m.
26	Non-current bank debt	(1,349)	(4,293)	2,944	-68.6%
27	Other non-current financial liabilities	(4,403)	(9)	(4,394)	n.m.
	Non-current net financial assets/(debt)	11,148	(2,360)	13,508	n.m.
	Total net cash/debt	(5,879)	(16,233)	10,354	-63.8%

DIGITAL BROS GROUP

Consolidated Income Statement at 31 March 2020

			31 March		31 March
	Euro thousand		2020		2019	Change
1	Gross revenue	99,143	106.4%	42,601	107.2%	56,542	132.7%
2	Revenue adjustments	(6,002)	-6.4%	(2,858)	-7.2%	(3,146)	n.m.
3	Net revenue	93,141	100.0%	39,743	100.0%	53,398	134.4%
4	Purchase of products for resale	(14,160)	-15.2%	(10,777)	-27.1%	(3,383)	31.4%
5	Purchase of services for resale	(6,421)	-6.9%	(4,337)	-10.9%	(2,084)	48.1%
6	Royalties	(26,883)	-28.9%	(7,898)	-19.9%	(18,985)	n.m.
7	Changes in inventories of finished products	514	0.6%	(172)	-0.4%	686	n.m.
8	Total cost of sales	(46,950)	-50.4%	(23,184)	-58.3%	(23,766)	102.5%
9	Gross profit (3+8)	46,191	49.6%	16,559	41.7%	29,632	n.m.
10	Other income	2,375	2.6%	2,426	6.1%	(51)	-2.1%
11	Costs for services	(11,536)	-12.4%	(5,613)	-14.1%	(5,923)	n.m.
12	Rent and Leasing	(183)	-0.2%	(1,069)	-2.7%	886	-82.8%
13	Payroll costs	(15,358)	-16.5%	(13,118)	-33.0%	(2,240)	17.1%
14	Other operating costs	(924)	-1.0%	(825)	-2.1%	(99)	11.9%
15	Total operating costs	(28,001)	-30.1%	(20,625)	-51.9%	(7,376)	35.8%
16	Gross operating margin (EBITDA) (9+10+15)	20,565	22.1%	(1,640)	-4.1%	22,205	n.m.
17	Depreciation and amortisation	(9,405)	-10.1%	(5,307)	-13.4%	(4,098)	77.2%
18	Provisions	0	0.0%	0	0.0%	0	n.m.
19	Asset impairment charge	(1,189)	-1.3%	(665)	-1.7%	(524)	78.7%
20	Impairment reversal	236	0.3%	0	0.0%	236	n.m.
	Total depreciation, amortization and
21	impairment	(10,358)	-11.1%	(5,972)	-15.0%	(4,386)	73.4%
22	Operating margin (EBIT) (16+21)	10,207	11.0%	(7,612)	-19.2%	17,819	n.m.
23	Interest and finance income	2,521	2.7%	1,066	2.7%	1,455	n.m.
24	Interest expense and finance costs	(2,796)	-3.0%	(956)	-2.4%	(1,840)	n.m.
25	Net interest income/(expense)	(275)	-0.3%	110	0.3%	(385)	n.m.
26	Profit/ (loss) before tax (22+25)	9,932	10.7%	(7,502)	-18.9%	17,434	n.m.
27	Current tax	(3,114)	-3.3%	1,433	3.6%	(4,547)	n.m.
28	Deferred tax	(437)	-0.5%	187	0.5%	(624)	n.m.
29	Total taxes	(3,551)	-3.8%	1,620	4.1%	(5,171)	n.m.
30	Net profit/loss	6,381	6.9%	(5,882)	-14.8%	12,263	n.m.
	attributable to the shareholders of the Group	6,389	6.9%	(5,882)	-14.8%	12,271	n.m.
	attributable to minority shareholders	(8)	0.0%	0	0.0%	(8)	n.m.
	Earnings per share
33	Total basic earnings per share (in Euro)	0,45		(0,41)		0,86	n.m.
34	Diluted earnings per share (in Euro)	0,45		(0,41)		0,86	n.m.

DIGITAL BROS GROUP

Consolidated Cash Flow Statement at 31 March 2020

A. Opening net cash/debt (16,233) (1,083) B. Cash flows from operating activities Profit (loss) for the period attributable to the Group 6,381 (5,882) Depreciation, amortisation and non-monetary costs: Provisions and impairment losses 1,189 601 Amortisation of intangible assets 7,993 4,778 Depreciation of property, plant and equipment 1,412 528 Net change in other provisions 0 0 Net change in employee benefit provisions 73 10 Net change in other non-current liabilities (444) 34 SUBTOTAL B. 16,604 69 C. Change in net working capital Inventories (514) 172 Trade receivables 4,125 (7,124) Current tax assets 597 (2,493) Other current assets (5,112) 1,374 Trade payables 12,223 (3,052) Current tax liabilities 4,194 (249) Current provisions (856) 2 Other current liabilities 5,764 1,388 SUBTOTAL C. 20,421 (9,982) D. Cash flows from investing activities Net payments for intangible assets (20,949) (6,390) Net payments for property, plant and equipment (6,945) 1,737 Net payments for non-current financial assets 891 (1,122) SUBTOTAL D. (27,003) (5,775) E. Cash flows from financing activities Capital increases 0 0 Share premium accounts 0 0 SUBTOTAL E. 0 0 F. Changes in consolidated equity Dividends distributed 0 0 Changes in treasury shares held 0 0 Increases (decreases) in other equity components 332 (852) SUBTOTAL F. 332 (852) G. Cash flow for the period (B+C+D+E+F+G) 10,354 (16,540) H. Closing net cash/debt (A+H) (5,879) (17,623)	Euro thousand	31 March 2020	31 March 2019

SEGMENT REPORTING

Consolidated Income Statement per Operating Segment at 31 December 2019

	Euro Thousand	Premium Games	Italian Distribution	Free to Play	Other projects	Holding	Total
1	Gross revenue	86,764	6,811	5,117	451	0	99,143
2	Revenue adjustments	(5,489)	(513)	0	0	0	(6,002)
3	Net revenue	81,275	6,298	5,117	451	0	93,141
4	Purchase of products for resale	(9,842)	(4,318)	0	0	0	(14,160)
5	Purchase of services for resale	(4,648)	(128)	(1,636)	(9)	0	(6,421)
6	Royalties	(26,618)	0	(244)	(21)	0	(26,883)
7	Changes in inventories of finished products	1,287	(773)	0	0	0	514
8	Total cost of sales	(39,821)	(5,219)	(1,880)	(30)	0	(46,950)
9	Gross profit (3+8)	41,454	1,079	3,237	421	0	46,191
10	Other income	749	0	1,555	0	71	2,375
11	Cost of services	(8,940)	(1,026)	(232)	(122)	(1,216)	(11,536)
12	Rent and leasing	(56)	(22)	(13)	(1)	(91)	(183)
13	Payroll costs	(8,051)	(1,041)	(3,324)	(239)	(2,703)	(15,358)
14	Other operating costs	(321)	(150)	(66)	(29)	(358)	(924)
15	Total operating costs	(17,368)	(2,239)	(3,635)	(391)	(4,368)	(28,001)
16	Gross operating margin (EBITDA) (9+10+15)	24,835	(1,160)	1,157	30	(4,297)	20,565
17	Depreciation and amortisation	(7,684)	(129)	(893)	(81)	(618)	(9,405)
18	Provisions	0	0	0	0	0	0
19	Asset impairment charge	(767)	(44)	(346)	0	(32)	(1,189)
20	Impairment reversal	187	0	0	0	49	236
21	Total depreciation, amortization and impairment	(8,264)	(173)	(1,239)	(81)	(601)	(10,358)
22	Operating margin (EBIT) (16+21)	16,571	(1,333)	(82)	(51)	(4,898)	10,207

DIGITAL BROS GROUP

Consolidated Income Statement for the third quarter

		Q3		Q3
	Euro thousand	2019/2020		2018/2019		Change
1 2	Gross revenue Revenue adjustments	31,293 (637)	102.1% -2.1%	12,385 (816)	107.0% -7.0%	18,908 179	152.7% n.m.
3	Net revenue	30,656	100	11,569	100.0%	19,087	165.0%
4	Purchase of products for resale	(1,323)	-4.3%	(3,429)	-29.6%	2,106	-61.4%
5	Purchase of services for resale	(2,375)	-7.7%	(967)	-8.4%	(1,408)	n.m.
6	Royalties	(8,188)	-26.7%	(2,384)	-20.6%	(5,804)	n.m.
7	Changes in inventories of finished products	(878)	-2.9%	(433)	-3.7%	(445)	n.m.
8	Total cost of sales	(12,764)	-41.6%	(7,213)	-62.3%	(5,551)	77.0%
9	Gross profit (3+8)	17,892	58.4%	4,356	37.6%	13,536	n.m.
10	Other income	989	3.2%	880	7.6%	109	n.m.
11	Costs for services	(2,781)	-9.1%	(1,701)	-14.7%	(1,080)	63.5%
12	Rent and Leasing	(42)	-0.1%	(358)	-3.1%	316	-88.4%
13	Payroll costs	(5,345)	-17.4%	(4,667)	-40.3%	(678)	14.5%
14	Other operating costs	(301)	-1.0%	(286)	-2.5%	(15)	5.3%
15	Total operating costs	(8,469)	-27.6%	(7,012)	-60.6%	(1,457)	20.8%
16	Gross operating margin (EBITDA) (9+10+15)	10,412	34.0%	(1,776)	-15.3%	12,188	n.m.
17	Depreciation and amortisation	(4,266)	-13.9%	(1,714)	-14.8%	(2,552)	n.m.
18	Provisions	0	0	0	0.0%	0	n.m.
19	Asset impairment charge	(20)	-0.1%	0	0.0%	(20)	n.m.
20	Impairment reversal	32	0.1%	0	0.0%	32	n.m.
	Total depreciation, amortization and
21	impairment	(4,254)	-13.9%	(1,714)	-14.8%	(2,540)	n.m.
22	Operating margin (EBIT) (16+21)	6,158	20.1%	(3,490)	-30.2%	9,648	n.m.
23	Interest and finance income	981	3.2%	396	3.4%	585	n.m.
24	Interest expense and finance costs	(856)	-2.8%	(465)	-4.0%	(391)	n.m.
25	Net interest income/(expense)	125	0.4%	(69)	-0.6%	194	n.m.
26	Profit/ (loss) before tax (22+25)	6,283	20.5%	(3,559)	-30.8%	9,842	n.m.
27	Current tax	(2,028)	-6.6%	745	6.4%	(2,773)	n.m.
28	Deferred tax	188	0.6%	92	0.8%	96	n.m.
29	Total taxes	(1,840)	-6.0%	837	7.2%	(2,677)	n.m.
30	Recurrent net profit/loss	4,443	14.5%	(2,722)	-23.5%	7,165	n.m.
	attributable to the shareholders of the Parent Company	4,451	14.5%	(2,722)	-23.5%	7,173	n.m.
	attributable to minority shareholders	(8)	0	0	0.0%	(8)	n.m.