Dromeas S.A.

Annual / Quarterly Financial Statement • Apr 26, 2022

The figures and information illustrated below, derived from the financial statements, provide a general information about the financial position and results of "PAPAPANAGIOTOU S.A. - DROMEAS" and of the Group of companies "PAPAPANAGIOTOU S.A. - DROMEAS". We advise the reader, before making any investment decision or other transaction concerning the company, to visit the company's web site where the audit report of the external auditor and the financial statements are presented,

	FINANCIAL POSITION DATA	DETAILS OF STATEMENTS OF CHANGES IN EQUITY
Auditor Audit Report Type:	With consent
Auditing Company:	METRON AUDITING S.A. (SOEL Reg. No. 158)
Statutory auditor:	Dimitrios G. Plastaras (ID SOEL 277771)
		Independent non-executive members: Panagiotis A. Panagiotakakis, Ioannis K. Verginis.
		Vice President & Non-Executive Member: Grigorios V. Zarotiadis, Executive Members: Konstantinos A. Papapanagiotou, Stavroula A. Papakonstantinou
Composition of the Board of Directors:	Chairman and CEO: Athanasios K. Papapanagiotou.
Date of Approval of the Annual Financial Statements:	18 April 2022
Internet address:	www.dromeas.gr
Respective Department - Prefecture:	Ministry of Development, Directorate of Societes Anonymes & Credit, Directorate of Companies & G.E.M.I.
according to the International Financial Reporting Standards.

	(consolidated and non-consolidated) amounts expressed in euro				(consolidated and non-consolidated) amounts expressed in euro
		THE GROUP	THE COMPANY			THE GROUP		THE COMPANY
ASSETS	31-12-21	31-12-20	31-12-21	31-12-20		1/1-31/12/21	1/1-31/12/20	1/1-31/12/21	1/1-31/12/20
Self-contained tangible fixed assets	34,879,472.84	35,582,869.04	31,544,409.82	32,043,123.46	Total net position at the beginning of the period (1/1/21 and 1/1/20 respectively)	27,234,485.53	26,491,569.53	27,995,196.13	27,184,529.00
Intangible assets	105,678.83	126,511.23	54,788.86	68,351.29	Aggregate total revenue after taxes	1,048,538.38	749,456.20	953,926.64	827,402.20
Other Non-Current Assets	734,568.39	784,352.91	3,822,878.76	3,818,693.75	Dividends distributed	0.00	0.00	0.00	0.00
inventories	13,411,753.98	14,131,454.63	13,182,614.16	13,852,411.68	Other changes	(145,833.79)	(6,540.20)	(156,472.88)	(16,735.07)
Advances for the purchase of stocks	447,489.62	412,148.95	446,023.80	410,594.34	Total net end position of the period (31/12/21 and 31/12/20 respectively)	28,137,190.12	27,234,485.53	28,792,649.89	27,995,196.13
Customers' demands	11,706,559.77	9,863,279.22	12,433,853.72	10,508,922.94
Other current assets	3,741,129.24	4,575,224.44	3,369,996.64	4,151,342.70
total assets	65,026,652.67	65,475,840.42	64,854,565.76	64,853,440.16
						CASH FLOW STATEMENT DATA
OWN FUNDS AND OBLIGATIONS					(consolidated and non-consolidated) amounts expressed in euro
Share capital (34,720,000 shares of € 0.31)	10,763,200.00	10,763,200.00	10,763,200.00	10,763,200.00		THE GROUP		THE COMPANY
Other equity items	17,205,914.10	16,315,772.53	18,029,449.89	17,231,996.13		1/1-31/12/21	1/1-31/12/20	1/1-31/12/21	1/1-31/12/20
Total equity of parent company (a)	27,969,114.10	27,078,972.53	28,792,649.89	27,995,196.13	Functional Activities
Minority rights (b)	168,076.02	155,513.00	0.00	0.00	Profit / (loss) before taxes (continuing operations)	1,022,720.50	747,141.04	932,102.06	818,177.86
Total equity (c) = (a) + (b)	28,137,190.12	27,234,485.53	28,792,649.89	27,995,196.13	Plus / Minus adjustments for:
Long-term loan liabilities	16,955,300.00	18,437,700.00	16,805,000.00	18,187,000.00	Depreciation	1,280,427.96	1,287,847.85	1,169,863.58	1,165,827.93
Deferred Long-Term Tax Liabilities	3,452,722.30	3,552,174.10	3,235,057.22	3,330,515.72	Predictions	200,849.47	30,000.00	200,849.47	30,000.00
Provisions / Other long-term liabilities	2,305,555.80	2,256,972.27	1,663,150.35	1,537,053.98	Exchange differences	9,235.73	0.00	9,235.73	0.00
Short-term loan liabilities	9,511,109.66	9,193,506.42	9,410,798.09	9,093,350.25	Debt interest and related expenses	1,177,492.35	693,534.25	1,157,350.37	681,191.74
Other current liabilities	4,664,774.79	4,801,002.10	4,947,910.21	4,710,324.08	Results (income, expenses, profits, losses) invest. activity	(59,701.44)	28,560.02	(59,701.44)	12,945.80
Total liabilities (d)	36,889,462.55	38,241,354.89	36,061,915.87	36,858,244.03	Plus / minus adjustments for capital account changes
TOTAL EQUITY AND LIABILITIES (c) + (d)	65,026,652.67	65,475,840.42	64,854,565.76	64,853,440.16	or related to functional activities:
					Decrease / (increase) in stocks	684,359.98	(158,223.10)	634,368.06	87,715.75
TOTAL REVENUE DATA					Decrease / (increase) of receivables	(1,650,862.14)	(1,125,577.94)	(1,842,266.90)	(1,185,092.04)

ADDITIONAL DATA AND INFORMATION

1. The companies of the Group with their respective addresses and participation percentages included in the consolidated 7. The amounts of purchases and sales cumulatively from the beginning of the financial year and the balances of receivables

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financial statements are: and liabilities at the end of the current period, which have arisen from transactions with related parties,

(consolidated and non-consolidated) amounts expressed in euro					Increase / (decrease) subdivision. (excluding loans)	(136,227.30)	1,010,198.68	237,586.13	807,183.41
					Minus:
		THE GROUP		THE COMPANY	Taxes paid	(800.00)	0.00	0.00	0.00
	1/1-31/12/21	1/1-31/12/20		1/1-31/12/21 1/1-31/12/20	Total inputs / outputs from operating activities (a)	2,527,495.11	2,513,480.80	2,439,387.06	2,417,950.45
Operations' Circle	22,101,002.09	21,041,605.71	21,887,135.55	20,845,574.42	Investment Activities
Gross profit / (losses)	8,983,227.05	7,471,657.30	8,628,075.37	7,321,078.70	Purchase of tangible, intangible fixed assets and other investments	(819,400.52)	(1,648,614.28)	(856,164.90)	(1,644,164.28)
Profit / (loss) before taxes, financial and investment					Proceeds from sales of tangible and intangible assets	26,645.00	2,861.20	26,645.00	2,403.00
results	2,200,212.85	1,440,675.29	2,088,002.46	1,498,566.12	Proceeds from the sale of investment securities	0.00	0.00	0.00	0.00
Profit / (loss) before taxes	1,022,720.50	747,141.04	932,102.06	818,177.86	Interest received	1,449.98	803.48	1,449.98	803.48
Profit / (loss) after taxes (A)	1,048,538.38	749,456.20	953,926.64	827,402.20	Dividends received	0.00	0.00	0.00	0.00
Motherboard owners	1,044,250.53	750,924.57	953,926.64	827,402.20	Decrease / (increase) of other long-term receivables	0.00	0.00	0.00	0.00
Minority rights	4,287.85	(1,468.37)	0.00	0.00	Total inflows / outflows from investment activities (b)	(791,305.54)	(1,644,949.60)	(828,069.92)	(1,640,957.80)
					Funding activities
Other total income after taxes (B)	0.00	0.00	0.00	0.00	Receipts from Share increase. Head	0.00	0.00	0.00	0.00
Aggregate total revenue after taxes (A) + (B)	1,048,538.38	749,456.20	953,926.64	827,402.20	Dividends paid	0.00	0.00	0.00	0.00
Motherboard owners	1,044,250.53	750,924.57	953,926.64	827,402.20	Receipts from issued / undertaken loans	11,547,227.24	16,928,618.95	11,547,227.24	16,928,618.95
Minority rights	4,287.85	(1,468.37)	0.00	0.00	Loan repayments	(13,858,951.29)	(15,895,940.18)		(13,737,114.73) (15,862,843.50)
					Obligations repayments leasing (amortization)	0.00	0.00	0.00	0.00
Profit / (loss) after taxes per share - basic (in €)	0,0301	0,0216	0,0275	0,0238	Total inputs / outputs from financial activities (c)	(2,311,724.05)	1,032,678.77	(2,189,887.49)	1,065,775.45
Proposed dividend			0.0000	0.0000	Net increase / (decrease) in cash and	(575,534.48)	1,901,209.97	(578,570.35)	1,842,768.10
Profits / (losses) before taxes, financial, investment					Equivalents of use (a) + (b) + (c)
results and total depreciation	3,480,640.81	2,728,523.14	3,257,866.04	2,664,394.05	Cash and cash equivalents	3,536,457.23	1,635,247.26	3,333,434.75	1,490,666.65
					Cash and cash equivalents	2,960,922.75	3,536,457.23	2,754,864.40	3,333,434.75

Complete consolidation method as defined by IAS 24, are as follows (in €): PAPAPANAGIOTOU SA - DROMEAS, IND.AREA Serres Mother Comp. Κ.Ε.Μ. Α.Β.Ε.Ε., IND.AREA Serres 92.54% GROUP COMPANY DROMEAS B.G. EAD, Sofia, Bulgaria 100.00% 31-12-21 31-12-21 There has been no change in the method of integration and there are no companies and / or joint ventures that are not included a) Revenue - 140,213 in the consolidated Financial Statements. b) Expenses 49,934 1,141,861 2. The basic accounting principles of the Balance Sheet of 31/12/2020 have been observed c) Requirements - 831,850 3. For the encumbrances on real estate fixed assets and mechanical equipment of the company and the group, we refer d) Liabilities 5,916 640,812 in the notes to the annual financial report. e) Transactions and remuneration of executives and members of the Management 477,621 443,178 4. The number of employees in the group and in the company is: f) Requirements from executives and members of the Management 77,861 - 31-12-21 31-12-20 31-12-21 31-12-20 Employees (at the quoted date) 54 53 51 50 8. Earnings per share of the closing and the previous period, were calculated based on the weighted average number of Wages (on the quoted date) 226 243 203 212 shares of the parent company. Total 280 296 254 262 9. The unaudited tax years of the parent company and the other companies of the Group are presented in detail in the respective 5. There are no disputes or arbitrations under dispute or arbitration, which may have a significant impact 10. At the end of the current period, there are no shares of the parent company held either by itself or by

GROUP COMPANY	g) Liabilities to managers and members of the Management	24,849	24,849

paragraph of the annual financial report.

in the financial situation of the company and the group. subsidiaries and associates of companies.

1. The amount of the provision for doubtful receivables on 31/12/2021 amounts to € 735,530 for the group and to the company at 11. There are no other significant events after 31 December 2021 that should differentiate the

€ 733,150. The company has no disputed tax cases, while for unaudited fiscal years it has formed items of the published financial statements.

sufficient forecast of a total amount of € 103,353. The other forecasts that have been formed, amount to 31/12/2021 for 12. There has been no cessation of operation of a branch or company of the group.

group at € 242,794 and for the company at € 237,609. 13. An analysis of other changes in Equity is included in the notes to the annual financial report.

More information in the respective notes of the annual financial report.

THE CHAIRMAN AND CHIEF EXECUTIVE OFFICER THE EXECUTIVE MEMBER THE ACCOUNTANT MANAGER ATHANASIOS K. PAPAPANAGIOTOU KONSTANTINOS A. PAPAPANAGIOTOU THEODOROS TRIANTAFYLLIDIS

A D T. AM 430530 A D T. AO 224161 FIRST CLASS ACCOUNTANT No. License 65724

(published under Law 4548/2018, article 149 for companies that prepare annual financial statements, consolidated and not, according to IFRS)

COMPANY'S HEADQUARTERS: INDUSTRIAL AREA OF SERRES - MUNICIPALITY OF LEFKONAS SERRES

PAPAPANAGIOTOU S.A. - "DROMEAS"

INDUSTRIAL JOINT-STOCK COMPANY OF COMMERCE AND AGENCIES

Number of General Commercial Register 114048152000 (Register Number of Joint Stock Companies 11045/06/Β/86/10)

FIGURES AND INFORMATION FOR THE FINANCIAL YEAR FROM 1. JANUARY 2021 TO 31 DECEMBER 2021