Elton S.A.

Annual / Quarterly Financial Statement • Sep 23, 2021

FINANCIAL STATEMENTS AND INFORMATION of period from 1st January 2021 until 30th June 2021

General Commercial Reg.Number: 346001000 Head Office: Avlonas Attiki , Draseza place (Industrial zone Avlona)

ELTON INTERNATIONAL TRADING COMPANY S.A.

COMPANY INFORMATION						1.3 CASH FLOW STATEMENT
Website:	http://www.elton-group.com				(consolidated and company's) Amounts in euro
Board of Directors :	President & CEO: Nestor Papathanasiou,				GROUP			COMPANY
	Executive members: Alkisti N.Papathanasiou, Dimitris Giotopoulos				Operating Activities	1/1-30/06/2021	1/1-30/06/2020	1/1-30/06/2021	1/1-30/06/2020
	Independent & not executive members: Antonios Mouzas, Lawrence Alvertiss,				Profit before taxes	4.640.909	3.082.330	3.232.025	2.292.247
	Not executive members Christos Poulis (Vice President of BoD),Elektra Ν. Papathanasious				Adjustments for :
Date of Financial Statements' approval by the Board : 20/9/2021					Depreciation and Amortization	765.773	917.913	436.605	492.032
Certified Auditor :	Panagiotis Papadopoulos S.O.E.L. 28241				Amortization of grants	-34.551	-34.551	-34.551	-34.551
Audit firm :	SOL AE OE				Provisions	431.207	190.869	340.000	45.000
Type of Audit Review :	Unqualified opinion				Exchange Differences	-128.557	-321.050	-10.804	-947
	1.1. STATEMENT OF FINANCIAL POSITION				Results from Investing activities, (Income, expenses, profit ,loss)	2.592	1.123	2.581	-116
	(consolidated and company's) Amounts in euro				Interest and similar charges	322.146	685.384	154.852	281.243
	GROUP		COMPANY		Working capital changes
	30/6/2021	31/12/2020	30/6/2021	31/12/2020		-2.914.811	-3.232.935	-1.295.277	-1.862.196
ASSETS					Decrease / (increase) of inventory	-8.098.505	-5.634.296	-4.762.253	-3.072.131
Fixed Assets	15.664.066	16.035.727	9.679.305	9.895.500	Decrease / (increase) of trade receivables
Rights for assets' use	1.302.465	1.519.028	524.049	681.524	(Decrease) / increase of liabilities (except loans)	6.139.276	4.404.489	2.915.187	2.000.872
Intagible Assets Other non current Assets	1.634.237 1.444.647	1.716.178 1.512.869	1.559.725 15.336.622	1.628.731 15.403.705	Less :
Inventories	24.819.053	21.886.441	13.479.359	12.184.083	Interest and similar charges paid	-446.811	-736.092	-223.210	-281.438
Trade Receivables	50.767.792	41.576.771	36.835.839	31.270.638	Tax paid	-196.428	-37.839	-106.474	0
Other current Assets	4.701.802	9.111.703	3.560.725	7.124.997	Total cash/ (used in) generated from operating activities (a)	482.241	-714.653	648.684	-139.984
TOTAL ASSETS	100.334.062	93.358.717	80.975.625	78.189.177	Investing Activities
EQUITY AND LIABILITIES Share Capital	13.899.697	13.899.697	13.899.697	13.899.697	Acquisition of Subsidiary	0	0	0	-200.000
minus : purchase of company's own shares	0	0	0	0	Purchase of Intagible Assets, Property	-60.177	-64.408	-51.222	-43.450
Other net Equity	41.093.280	39.977.732	36.547.943	36.181.293	Sale of fixed and Intagible assets	5.000	0	5.000	0
Equity attributable to the equity holders of the parent (a)	54.992.977	53.877.429	50.447.641	50.080.990	Interest received	56.346	76.449	38	195
Minority interest (b)	0	0	0	0	Total cash/ (used in) generated from investing activities (b)	1.169	12.041	-46.183	-243.255
Total Equity (c)=(a)+(b)	54.992.977	53.877.429	50.447.641	50.080.990	Financing Activities
Long Term Borrowings Provisions/Other Long Term Liabilities	10.375.234 2.005.880	12.720.016 2.179.935	8.964.286 1.491.551	11.039.430 1.660.636	Proceeds from Borrowings	1.965.405	9.160.038	0	4.000.000
Short Term Borrowings	6.621.255	7.523.136	1.452.513	2.506.440	Repayment of Borrowings	-5.143.710	-6.818.708	-3.060.714	-1.695.423
Other Short Term Liabilities	26.338.715	17.058.202	18.619.635	12.901.681	Repayment of Finance Lease Liabilities	-297.947	-177.368	-109.993	-148.011
Total Liabilities (d)	45.341.085	39.481.288	30.527.984	28.108.187	Dividends paid	-105.394	0	-105.394	0
TOTAL EQUITY AND LIABILITIES (c)+(d)	100.334.062	93.358.717	80.975.625	78.189.177		-3.581.646	2.163.962	-3.276.101	2.156.566
					Total cash/ (used in) generated from financing activities (c)	-3.098.236	1.461.350	-2.673.601	1.773.327
	1.2. INCOME STATEMENT (consolidated and company's) Amounts in euro				Net increase/(decrease) in Cash and Cash equivalents (a)+(b)+(c)
	GROUP		COMPANY		6.787.976 2.335.676 5.524.167 Cash and Cash Equivalents at the beginning of the period			1.280.884
	1/1-30/06/2021	1/1-30/06/2020	1/1-30/06/2021	1/1-30/06/2020	Cash and Cash Equivalents at the end of the period	3.689.739	3.797.026	2.850.566	3.054.211
Turnover	70.737.670	65.430.192	45.110.301	41.406.471		1.4 STATEMENT OF CHANGES IN EQUITY
Gross Profit	12.488.477	10.623.364	7.701.039	6.412.013	(consolidated and company's) Amounts in euro
Profit/(loss) before taxes,financing & investing results	4.963.055	3.767.714	3.386.878	2.573.490			GROUP		COMPANY
Profit before taxes	4.640.909	3.082.330	3.232.025	2.292.247		30/6/2021	30/6/2020	30/6/2021	30/6/2020

Profit/(loss) before taxes,financing & investing results	4.963.055	3.767.714	3.386.878	2.573.490
Profit before taxes	4.640.909	3.082.330	3.232.025	2.292.247
Profit/(loss) after Taxes (Α)	3.661.825	2.391.696	2.509.206	1.736.978
Attributable to: Owners of the parent company	3.661.825	2.344.210	2.509.206	1.736.978	Equity at the beginning of the period (1/1/2021 and 1/1/2020
Minority interest	0	47.486	0	0	respectively)
Other comprehensive Income after tax (B)	(407.862)	(360.337)	(4.140)	0	Profit after taxes
Total comprehensive Income after tax (A)+(B)	3.253.963	2.031.359	2.505.066	1.736.978	Other comprehensive Income
Attributable to: Owners of the parent company	3.253.963	1.983.873	2.505.066	1.736.978
Minority interest	0	47.486	0	0	Dividends distribution
Earnings after taxes per share (€)	0,1370	0,0877	0,0939	0,0650	Equity at the end of the period (30/6/2021 and 30/6/2020
Profit before taxes, financing & investing results					respectively)
and depreciation (EBITDA)	5.694.278	4.651.077	3.788.931	3.030.972

48.467.271 1.736.978 0 0

50.204.249

50.080.990 2.509.206 -4.140 -2.138.415

50.447.641

53.146.631 2.391.696 -360.337 0

55.177.990

53.877.429 3.661.825 -407.862 -2.138.415

54.992.977

1.5 ADDITIONAL DATA AND INFORMATION

1. The companies of the Group with their respective countries of residence and percentage holdings,included in the consolidated financial statements

COMPANY	COUNTRY	PERCENTAGE HOLDING	CONSOLIDATION METHOD
ELTON INTERNATIONAL TRADING COMPANY SA	GREECE	PARENT
ELTON CORPORATION SA	ROMANIA	100%	FULL
ELTON CORPORATION EOOD	BULGARIA	100%	FULL
ELTON CORPORATION DOO	SERBIA	100%	FULL
ELTON CORPORATION LLC	UKRAINE	100%	FULL
ELTON MARMARA KIMYA SANAYI VE TICARET AS TURKEY		100%	FULL

2. The unaudited tax years for the Group subsidiaries are the following: ELTON CORPORATION SA (2010-2020), ELTON CORPORA-TION EOOD (2010-2020), ELTON CORPORATION DOO (2010-2020), ELTON CORPORATION LLC (2012-2020). For the year 2020 the company has benefited from the tax audit of Certified Auditors Accountants provided by the provisions of Article 65 A N.4174/2013.

This audit is in progress and the related tax certificate will be granted after the publication of the interim financial statements of year 2021. 3. There are encumbrances on the property of the subsidiary in Bulgaria for securing loan obligations at the amount of 1.844.778 euro 4. There is not any litigation or arbitration or administrative court that may have a material effect on the financial position of the Company and its subsidiaries. 5. Number of employees at the end of the current period : Group 262 Company 122 (30/06/2020: Group 264 ,Company 123). 6. On the above 30/06/2021 financial statements complied same basic accounting principles as at the Balance Sheet 31/12/2020. 7. The Group and the Company have made provisions for bad debts up to 30/06/2021 amounting to 9.436.955 and 6.011.334 euros respectively and provisions for discredited inventories at the amount of 374.046 euros for the Group and 245.496 euros for the Company. Until 30th June 2021 the provision for staff compensation in the Group and the Company was 688.457 €.	9. The other comprehensive income after tax are: Exchange Differences Effect of tax rate change on deffered tax Deffered taxes Actuarially profit/loss TOTAL	GROUP 30/6/2021 30/6/2020 -403.722 -4.140 0 0 -407.862	-360.337 0 0 0 -360.337	COMPANY 0 -4.140 0 0 -4.140	30/6/2021 30/6/2020 0 0 0 0 0
AVLONA ATTICA, 20th September 2021
PRESIDENT & CEO	B.O.D. MEMBER	COMPANY'S FINANCIAL MANAGER GROUP C.F.O.
NESTOR D. PAPATHANASIOU ID card num. ΑΒ606775	ALKISTI.Ν.PAPATHANASIOU ID card num. ΑΕ105490	STYLIANOS .D.VASILIOU ID card num.Τ 132250			ANTONIS YASSARIS ID card num. AO 630843 Offices Service S.A. 2109247017

8. Cumulative amounts of sales and purchases , since the begining of the year and the balances of receivables and payables of the Group and the Company at the end of the year, resulting from its transactions with associated parties, according to the IFRS 24, are as follows :

	GROUP	COMPANY
	1/1-30/06/2021	1/1-30/06/2021
Sales	0	662.900
Purchases	0	144.270
Receivables from associated parties	0	1.682.940
Payables to associated parties	0	51.998
Directors' and Managers' remuneration	468.326	303.463
Payables to Managers and Directors	0	0

(pubished according to the decision 4/507/28.4.2009 of the Board of Hellenic Capital Market Commission for companies that issue annual financial statements consolidated and non, according to IAS) The following data and information derived from the financial statements aim to provide general information about the financial position and results of ELTON INTERNATIONAL TRADING COMPANY SA. We advise the reader, before making any investment decision or other transaction with the company, to visit the web site where the financial statements and the report of the auditor where required.