Thrace Plastics Holding and Commercial S.A.

Quarterly Report • Nov 29, 2019

28 November 2019 www.thracegroup.gr Published in accordance with C.L. 2190/20, article 135 for companies that prepare financial statements, consolidated and non-consolidated according to I.F.R.S. The following data and information, that are derived from the financial statements, aim at providing general information on the financial position and results of THRACE PLASTICS CO S.A. , and the THRACE PLASTICS GROUP . Therefore, before proceeding with any kind of investment choice or other transaction with the Company, readers should refer to the company's website where the financial statements are available together with the audit report by the Certified Public Accountant, when applicable. Approval date of the financial statements by the Board: Company Website: Amounts in thousand Euro, unless stated otherwise.

					STATEMENT OF CASH FLOWS
					GROUP
					1/1 - 30/09/2019	1/1 - 30/09/2018	1/1 - 30/09/2019	1/1 - 30/09/2018
GROUP		COMPANY		Operating Activities
				Plus/Minus adjustments for:
				Other non cash movements	56	16	(16)	-
				Purchases of tangible and intangible fixed assets	(15,163)	(21,908)	(45)	-
				Cash due to change in the consolidation of subsidiaries	-	-	-	-
				Total inflows / (outflows) from investment activities (b)	(14,360)	(21,153)	(860)	-
GROUP 1/1 - 30/09/2019	1/1 - 30/09/2018	COMPANY 1/1 - 30/09/2019	1/1 - 30/09/2018	Financing activities
				Increase of participations in subsidiaries / associates	-	(10)	-	-
141,615	137,478	70,447	72,490	Proceeds from issued / undertaken loans	9,818	8,444	987	-
-	(142)	-	-	Purchase of treasury shares	-	-	-	-
141,615	137,336	70,447	72,490	Repayments of loans	(4,351)	(3,101)	-	-
				Financial leases	(4,186)	4,751	(29)	-
8,243	8,875	(894)	(872)	Dividends paid	(1,936)	(1,764)	(1,936)	(1,764)

						GROUP		COMPANY
						1/1 - 30/09/2019	1/1 - 30/09/2018	1/1 - 30/09/2019	1/1 - 30/09/2018
	GROUP		COMPANY		Operating Activities
ASSETS	30/09/2019	31/12/2018	30/09/2019	31/12/2018	Earnings, before taxes and minority interest	11,790	12,213	(890)	(832)
					Plus/Minus adjustments for:
Tangible fixed assets	117,936	135,963	407	412	Depreciation - Amortization	11,715	10,234	238	123
Right-of-use assets	26,163	-	211	-	Provisions	2,984	3,007	477	481
Investment property	113	113	-	-	Foreign exchange differences	(383)	(358)	2	2
Intangible assets	11,150	11,567	529	611	(Profit)/loss from sale of fixed assets	(874)	(108)	-	-
Participations in subsidiaries	-	-	70,316	70,316	Dividends	-	-	-	-
Participations in joint ventures	14,928	13,355	3,819	3,004	Financial (income) / expenses	3,277	3,645	477	629
Other non-current assets	7,226	6,022	1,899	1,901	(Profit)/loss from companies consolidated with the equity method	(1,314)	(875)	-	-
Inventories	62,562	66,896	-	-	Operating profit before changes in working capital	27,195	27,758	304	403
Trade receivables	67,744	53,603	3,205	2,836
Other current assets	8,536	9,882	4,355	4,959	(Increase) / Decrease of receivables	(13,313)	(9,209)	114	1,597
Cash & cash equivalents	19,433	22,824	570	3,172	(Increase) / Decrease of inventories	4,467	(4,277)	-	-
TOTAL ASSETS	335,791	320,225	85,311	87,211	(Decrease) / Increase of liabilities (apart from banks - taxes)	(2,013)	(2,181)	(689)	(1,218)
					Other non cash movements	56	16	(16)	-
EQUITY & LIABILITIES					Cash equivalents from operating activities	16,392	12,107	(287)	782
Share capital	28,869	28,869	28,869	28,869
Other equity	110,413	110,066	38,740	41,578	Minus:
Total Shareholders' Equity (a)	139,282	138,935	67,609	70,447	Interest expenses and related expenses paid	(3,485)	(3,700)	(477)	(637)
Minority interest (b)	2,918	2,680	-	-	Taxes	(1,597)	(2,138)	-	(141)
Total Equity (c) = (a) + (b)	142,200	141,615	67,609	70,447	Total inflows/(outflows) from operating activities (a)	11,310	6,269	(764)	4
Long-term debt	20,390	29,136	-	-
Long-term liabilities from leases	10,634	-	75	-	Investment activities
Provisions/Other long-term liabilities	25,942	18,414	767	868
Short-term bank debt	68,347	72,050	15,105	14,117	Proceeds from sales of tangible and intangible assets	1,171	15	-	-
Short-term liabilities from leases	4,675	-	139	-	Interest received	7	8	-	-
Other-short-term liabilities	63,603	59,010	1,616	1,779	Dividends received	440	692	-	-
Total liabilities (d)	193,591	178,610	17,702	16,764	Increase of participations in subsidiaries / associates	(815)	-	(815)	-
TOTAL EQUITY & LIABILITIES (c) + (d)	335,791	320,225	85,311	87,211	Investment subsidies	-	40	-	-

		GROUP		INCOME	COMPANY			COMPANY
	1/1 - 30/09/2019	1/1 - 30/09/2018	1/7 - 30/09/2019	1/7 - 30/09/2018	1/1 - 30/09/2019	1/1 - 30/09/2018	1/7 - 30/09/2019	1/7 - 30/09/2018
Turnover	254,358	249,559	83,233	84,345	3,875	3,788	1,273	1,266
Gross profit/(losses)	50,404	51,309	16,755	16,861	565	444	365	215
Earnings/(losses) before Interest and Taxes (EBIT)	13,754	14,928	5,213	5,366	(413)	(202)	(23)	19
Earnings / (losses) before Taxes	11,791	12,213	5,200	4,644	(890)	(832)	(178)	(171)
Earnings / (losses) after Taxes (A)	8,243	8,875	3,890	3,411	(894)	(872)	(178)	(198)
- Owners of the parent	8,000	8,649	3,799	3,316	-	-	-	-
- Minority interest	243	226	91	95	-	-	-	-
Other comprehensive income after taxes (B)	(5,757)	4,571	(4,396)	216	-	-	-	-
Total comprehensive income after taxes (A) + (B)	2,486	13,446	(506)	3,627	(894)	(872)	(178)	(198)
- Owners of the parent	2,248	13,220	(597)	3,531	-	-	-	-
- Minority interest	238	226	91	96	-	-	-	-
Earnings / (losses) after taxes per share – basic (in €)	0.1829	0.1978	0.0869	0.0758	-	-	-	-
Earnings/ (losses) before Interest, Taxes, Depreciation &
Amortization (EBITDA)	25,469	25,162	9,177	8,887	(175)	(79)	56	65

	STATEMENT OF CHANGES IN EQUITY		Cash due to change in the consolidation of subsidiaries	-	-	-	-
					Total inflows / (outflows) from investment activities (b)	(14,360)	(21,153)	(860)	-
	GROUP		COMPANY
	1/1 - 30/09/2019	1/1 - 30/09/2018	1/1 - 30/09/2019	1/1 - 30/09/2018	Financing activities
					Increase of participations in subsidiaries / associates	-	(10)	-	-
Total equity at beginning of period	141,615	137,478	70,447	72,490	Proceeds from issued / undertaken loans	9,818	8,444	987	-
Change in accounting policy	-	(142)	-	-	Purchase of treasury shares	-	-	-	-
Total equity at beginning of period	141,615	137,336	70,447	72,490	Repayments of loans	(4,351)	(3,101)	-	-
					Financial leases	(4,186)	4,751	(29)	-
Earnings / (losses) for the year after taxes	8,243	8,875	(894)	(872)	Dividends paid	(1,936)	(1,764)	(1,936)	(1,764)
Other comprehensive income	(5,757)	4,571	-	-	Total inflows / (outflows) from financing activities (c)	(655)	8,320	(978)	(1,764)
Distributed dividends	(1,944)	(2,059)	(1,944)	(2,058)	Net increase / (decrease) in cash & cash equivalents
Issued shares	-	-	-	-	for the period (a) + (b) + (c)	(3,705)	(6,564)	(2,602)	(1,760)
Purchase of treasury shares	-	-	-	-
Profit distribution	-	-	-	-	Cash & cash equivalents at the beginning of the period	22,824	30,593	3,172	4,791
Other changes	43	(93)	-	-	Effect from changes of exchange rates on cash & cash equivalents	314	195	-	-
Total Equity at end of period	142,200	148,630	67,609	69,560	Cash & cash equivalents at the end of the period	19,433	24,224	570	3,031

	Avdira, 28 November 2019
The Chairman and Chief Executive Officer	The Group CFO and Member of the Board of Directors	The Head Accountant
KONSTANTINOS ST. CHALIORIS	DIMITRIOS P. MALAMOS	FOTINI K. KYRLIDOU
ID No. ΑM 919476	ID No. ΑΟ 000311	ID No. ΑΚ 104541
		ECG Professional Lic. No. 34806 - Α' CLASS

ADDITIONAL DATA & INFORMATION

THRACE PLASTICS CO S.A.

Company Reg. No. : 11188/06/Β/86/31, General Commerce Reg. No. : 12512246000 Registered offices: MAGIKO, MUNICIPALITY of AVDIRA, XANTHI, GREECE

Data and information for the period from 1 January 2019 to 30 September 2019

STATEMENT OF FINANCIAL POSITION

STATEMENT OF COMPREHENSIVE INCOME