EQUALS GROUP PLC

Interim / Quarterly Report • Jan 30, 2024

Company Announcement: JUE 04

JUEL GROUP P.L.C.

The following is a Company Announcement being made by Juel Group P.L.C. (the "Company") pursuant to Chapter 5 of the Capital Markets Rules issued by the Malta Financial Services Authority [CMR 5.16.20. and 5.74 et seq. and 5.85]

ERRATA CORRIGE CONSOLIDATED UNAUDTED HALF-YEARLY REPORT 2023

QUOTE

The Company notes that the Unaudited Consolidated Half-Yearly Report of the Company for the period ending 30 June 2023 published on the 28 August 2023 [Company Announcement JUE 02] provides comparatives of a full year 2022 and that as per IAS 34 para 20(b) and (d) the said Report had to include comparative statements for the comparable interim period in relation to the Comprehensive Income (Page 4), the Statement of Changes in Equity (Page 6) and the Statement of Cash Flows (Page 7).

In this regard, the Company is attaching herewith an updated unaudited Consolidated Interim Statement of Comprehensive Income, the Statement of Changes in Equity and the Statement of Cash Flows with comparatives for the interim period January to June 2022 for the Company.

A copy of the said updated unaudited Consolidated Interim Statement of Comprehensive Income, Statement of Changes in Equity and the Statement of Cash Flows can be viewed on the Company's website at

https://juel.mt/investor-relations/financial-statements/

UNQUOTE

________________

Dr. Karen Coppini Company Secretary

30 January 2024

JUEL Group plc

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Consolidated Interim Income Statement and Comprehensive Income For the Period from 1st January to 30 June 2023

	GROUP 2023	GROUP 2022 FULL YEAR	COMPANY 2023	COMPANY 2022 FULL YEAR	COMPANY Jan - June 2022
Turnover	315,994	5,404
Cost of Sales	(232,788)	(2,039)
Gross Profit	83,206	3,365		1
Administrative Expenses	(13,672)	(6,463)		(4,775)	(100)
Operating Profit/(Loss)	69,534	(3,098)		(4,775)	(100)
Other Income			1,660
Finance income	7,110	2,177	450,907	321,527
Finance costs		(100)	(435,633)	(315,754)
Share of profit of equity-accounted investees net of tax	2,228,791
Profit/(Loss) before taxation	2,305,436	(1,021)	16,934	data	(100)
Tax expense	(25,502)	2,247	(5,927)	(349)
Profit for the period	2,279,934	1,226	11,007	649	(100)
Total Comprehensive Profit	2,279,934	1,226	11,007	649	(100)

JUEL Group plc

Statement of Changes in Equity

For the Period from 1st January to 30 June 2023

Company	Share Capital 1	Share Premium ਵ	Profit and Loss 0	Total C
Balance at 30th June 2022	3,000	-	(100)	2,900
Balance at 1st July 2022	3,000	-	(100)	2,900
Compehensive income
Issue of share capital	19,063,227			19,063,227
Issue of share premium		1,892,355		1,892,355
Profit for the year and period			11,756	11,756
Balance at 30th June 2023	19,066,227	1,892,355	11,656	20,970,238

Group	Share Capital ਦ	Share Premium €	Profit and Loss 117	Total 6
Balance at 31st December 2022	10,951,390	-	(16,744)	10,934,646
Balance at 1st January 2023	10,951,390		(16,744)	10,934,646
Compehensive income Issue of share capital	8,114,837	1,892,355		8,114,837 1,892,355
Issue of share premium Profit for the year and period			2,279,934	2,279,934
Balance at 30th June 2023	19,066,227	1,892,355	2,263,190	23,221,772

JUEL Group plc

Consolidated Statement of Cash Flows For the Period from 1st January to 30 June 2023

	GROUP		COMPANY
	2023	2022 FULL YEAR	2023	2022 FULL YEAR Jan - June 2022
	દ	€
Cash Flow from Operating Activities
Net Profit / (Loss) before Taxation	2,305,436	(1,021)	16,934	998	(100)
Adjustment for:
Depreciation	18,568	650
Finance costs	520,138	100	435,633	315,754
Other Income	(74,400)
Equity-Accounted Investees	(2,228,791)
Interest receivable	(450,907)	(2,175)	(450,907)	(321,527)
Operating profit / (loss) before working capital changes	90,044	(2,446)	1,660	(4,775)	(100)
Movement in working Capital
Trade and other receivables	(93,197)	(18,505)	(2,103,154)	(17,591,867)
Inventories	(1,440,340)
Trade and other payables	(2,238,095)	12,376	189,721	101,926
Cash Generated from Operations	(3,681,588)	(8,575)	(1,911,773)	(17,494,716)	(100)
Finance costs	(520,138)	(90,562)	(435,633)	(315,754)
Taxation paid	(5,988)
Other income	74,400
NET cash used in operating activities	(4,133,314)	(99,137)	(2,347,407)	(17,810,470)	(100)
Cash Flow from Investing Activities
Interest receivable	450,907	3	450,907	321,527
Payment for fixed assets	(2,164,600)
Impact to cash on acquisition of subsidiaries / associates	2,089,855	1,260,175	2,092,355
Net cash (used in) / from investing activities	376,162	1,260,178	2,543,262	321,527	0
Cash flow from financing activities
Proceeds from Issue of Share Capital	0	3,000	0	3,000	3,000
Proceeds from Bond advance facility	(9,487,843)	9,487,843	(9,487,843)	9,487,843
Proceeds from Bond issue	32,000,000		32,000,000
Shareholder loan	106,326	315
Related parties		(17,488,427)	(990,583)
Other loans	2,848,903	8,000,000		8,000,000
Net cash from financing activities	25,467,386	2,731	21,521,574	17,490,843	3,000
Movement in cash and cash equivalents	21,710,234	1,163,772	21,717,429	1,900	2,900
Cash and cash equivalent at the beginning of the period / year	1,163,775		1,900
Cash and cash equivalent at the end of the period / year	22,874,009	1,163,772	21,719,329	1,900	2,900

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