Thrace Plastics Holding and Commercial S.A.

Quarterly Report • Jun 20, 2019

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	Approval date of the annual financial statements by the Board:		19 June 2019
www.thracegroup.gr Company Website: Amounts in thousand Euro, unless stated otherwise.
	STATEMENT OF FINANCIAL POSITION					STATEMENT OF CASH FLOWS
							GROUP 1/1 - 31/03/2019	1/1 - 31/03/2018	COMPANY 1/1 - 31/03/2019	1/1 - 31/03/2018
ASSETS	GROUP 31-03-2019	31-12-18	COMPANY 31-03-2019	31-12-18	Operating activities Earnings, before taxes and minority interest		3.064	3.142	(197)
Tangible fixed assets	142.281	135.963	718	412	Plus/Minus adjustments for:		3.833	3.243	80
Investment property	113	113	-	-	Depreciation - Amortization Provisions		479	2.029	217
Intangible assets	11.570	11.567	588	611	Foreign exchange differences		(117)	205	1
Participations in subsidiaries Participations in associate companies	- 13.219	- 13.355	70.316 3.819	70.316 3.004	(Profit)/loss from sale of fixed assets Dividends		(22) -	(1) -	- -
Other non-current assets	7.113	6.022	1.902	1.901	Financial (income) / expenses		1.310	1.487	159
Inventories Trade receivables	69.492 64.878	66.896 53.603	- 3.249	- 2.836	(Profit)/loss from companies consolidated with the equity method		193 8.740	(58) 10.047	- 260
Other current assets	7.918	9.882	5.465	4.959	Operating profit before changes in working capital
Cash & cash equivalents	18.698	22.824	1.641	3.172	(Increase) / Decrease of receivables		(9.145)	(7.723)	(111)
TOTAL ASSETS	335.282	320.225	87.698	87.211	(Increase) / Decrease of inventories (Decrease) / Increase of liabilities (apart from banks - taxes)		(1.844) 1.614	(3.774) (2.091)	- (691)
EQUITY & LIABILITIES					Other non cash movements		1.004	(167)	2
Share capital Other equity	28.869 108.149	28.869 110.066	28.869 41.381	28.869 41.578	Cash equivalents from operating activities		369	(3.708)	(540)
Total Shareholders' Equity (a)	137.018	138.935	70.250	70.447	Minus:
Minority interest (b)	2.730	2.680	-	-	Interest expenses and related expenses paid		(961)	(1.101)	(167)
Total Equity (c) = (a) + (b) Long-term debt	139.748 30.412	141.615 29.136	70.250 282	70.447 -	Taxes Total inflows/(outflows) from operating activities (a)		(383) (975)	(990) (5.799)	- (707)
Provisions/Other-long-term liabilities	25.915	18.414	919	868
Short-term bank debt	76.460	72.050	15.153	14.117	Investment activities
Other-short-term liabilities Total liabilities (d)	62.747 195.534	59.010 178.610	1.094 17.448	1.779 16.764	Proceeds from sales of tangible and intangible assets Interest received		- 4	1 2	(45) -
TOTAL EQUITY & LIABILITIES (c) + (d)	335.282	320.225	87.698	87.211	Dividends received		119	121	-
					Increase of participations in subsidiaries / associates		(815)	(83)	(815)
	STATEMENT OF CHANGES IN EQUITY				Investment subsidies Purchases of tangible and intangible fixed assets		- (5.557)	- (6.671)	- -
					Cash due to change in the consolidation of subsidiaries		-	-	-
	GROUP		COMPANY		Total inflows / (outflows) from investment activities (b)		(6.249)	(6.630)	(860)
	1/1 - 31/03/2019	1/1 - 31/03/2018	1/1 - 31/03/2019	1/1 - 31/03/2018	Financing activities
Total equity at beginning of period	141.615	137.478	70.446	72.490	Proceeds from issued / undertaken loans		4.290	4.358	36
Change in accounting policy Total equity at beginning of period	- 141.615	(2.166) 135.312	- 70.446	(441) 72.049	Purchase of treasury shares Repayments of loans		- (392)	- (1.734)	- -
					Financial leases		(1.167)	2.395	-
Earnings / (losses) for the year after taxes	2.093	2.295	(197)	(289)	Dividends paid		-	-	-
Other comprehensive income Distributed dividends	(3.953) -	2.249 -	- -	- -	Total inflows / (outflows) from financing activities (c) Net increase / (decrease) in cash & cash equivalents		2.731	5.019	36
Issued shares	-	-	-	-	for the period (a) + (b) + (c)		(4.493)	(7.410)	(1.531)
Purchase of treasury shares	-	-	-	-
Profit distribution Other changes	- (6)	- (5)	- -	- -	Cash & cash equivalents at the beginning of the period Effect from changes of exchange rates on cash & cash equivalents		22.824 367	30.593 42	3.172 -
Total Equity at end of period	139.749	139.851	70.249	71.760	Cash & cash equivalents at the end of the period		18.698	23.225	1.641
				STATEMENT OF COMPREHENSIVE INCOME
			GROUP		COMPANY
	1/1 - 31/03/2019		1/1 - 31/03/2018		1/1 - 31/03/2019	1/1 - 31/03/2018
Turnover	83.574		78.517		1.275	1.282
Gross profit/(losses) Earnings/(losses) before Interest and Taxes (EBIT)	16.779 4.556		16.972 4.570		194 (38)	153 (69)
Earnings / (losses) before Taxes	3.064		3.142		(197)	(286)
Earnings / (losses) after Taxes (A)	2.093 2.038		2.295 2.249		(197) -	(289) -
- Owners of the parent - Minority interest	55		46		-	-
Other comprehensive income after taxes (B)	(3.953)		2.249		-	-
Total comprehensive income after taxes (A) + (B)	(1.860) (1.910)		4.544 4.498		(197) -	(289) -
- Owners of the parent - Minority interest	50		46		-	-
Earnings / (losses) after taxes per share – basic (in €)	0,0466		0,0514		-	-
Earnings/ (losses) before Interest, Taxes, Depreciation & Amortization (EBITDA)	8.389		7.814		42	(31)
				ADDITIONAL DATA & INFORMATION
Information regarding the Group structure, participations in subsidiaries and their consolidation method are presented in note 1.					7. Income tax in the statement of comprehensive income is analyzed as follows:		GROUP		COMPANY
							1/1 - 31/03/2019	1/1 - 31/03/2018	1/1 - 31/03/2019	1/1 - 31/03/2018
2. The basic accounting principles of the balance sheet for 31/12/2018 have been followed.					Income Tax Tax provision for unaudited years		(1.000) -	(1.172) -	- -
					Foreign non deductible taxes		-	-	-
					Income tax differences from previous years		-	-	-
3. There are no judicial or under arbitration differences of judicial or arbitration bodies, that may have a significant effect on the financial position of the Company and Group.					Deferred tax		29 (971)	325 (847)	- -
			GROUP	COMPANY
4. The following liens or collateral have been written on fixed assets			5.567	-	8. The cumulative provisions that have been recorded amount to:		GROUP		COMPANY
5. Number of employed staff at the end of each period :	GROUP		COMPANY				31/03/2019	31/12/2018	31/03/2019	31/12/2018
	31-03-19 1.865	31-03-18 1.867	31-03-19 20	31-03-18 20	Provision for doubtful debt Provision for staff indemnities		6.809 23.043	6.704 15.468	2.363 197
6. The transactions between related parties, according to I.A.S. 24, are as follows:					Provisions for tax differences from unaudited fiscal years		677	677	174
			GROUP 1.819	COMPANY 1.268	Provision for inventory impairment		512	1.605	-
i) Income					9.
ii) Expenses iii) Receivables			599 2.996	78 7.275	No company of the Group owns treasury shares, except for the parent company. On 31/03/2019 the Company held 4,324 treasury shares with an acquisition cost of 10,328.78 (in absolute terms).
iv) Liabilities			187	39	10. Other comprehensive income concerns the following :		GROUP		COMPANY
v) Transactions & Remuneration of Board members and senior executives			986	1.001			1/1 - 31/03/2019	1/1 - 31/03/2018	1/1 - 31/03/2019	1/1 - 31/03/2018
					Forex differences from Balance Sheet Conversion Actuarial Profit / (Loss)		1.824 (5.777)	80 2.169	- -
							(3.953)	2.249	-
					Avdira, 19 April 2019

THRACE PLASTICS CO S.A.

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

KONSTANTINOS ST. CHALIORIS ID No. ΑM 919476

FOTINI K. KYRLIDOU ID NO. ΑΚ 104541 ACCOUNT. LIC. REG. NO. 34806 - A' CLASS

DIMITRIOS P. MALAMOS ID NO. ΑΟ 000311