Annual / Quarterly Financial Statement • Apr 21, 2022
Annual / Quarterly Financial Statement
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| 2021 | 2020 | |
|---|---|---|
| € | € | |
| Income | ||
| Income from dividends | 609.275 | 380.797 |
| Income from interest | 203.697 | 201.636 |
| Income from rents | 1.015.674 | 1.484.301 |
| Other income | 17.984 | 33.472 |
| Profit on the sale and revaluation of land and immovable property | 3.601.007 | - |
| Profit on financial assets at fair value through profit and loss | 4.039.110 | 797.438 |
| 9.486.747 | 2.897.644 | |
| Operating expenses | (1.338.963) | (2.066.054) |
| Loss on the sale and revaluation of land and immovable property | - | (1.869.495) |
| (Provision) / reversal of provision on anticipated credit losses | 5.766 | (25.968) |
| Finance costs | (374.333) | (378.432) |
| Writing-off of negative goodwill | 43.205 | - |
| (Provision) / reversal of provision for share of loss in loss from affiliated - | ||
| Verendrya | 30.981 | (74.110) |
| Share in (loss)/ profit from affiliates – Hellenic Bank | (2.453.968) | 10.604.798 |
| Profit before taxation | 5.399.435 | 9.088.383 |
| Taxation | (60.770) | 58.868 |
| Net profit for the year | 5.338.665 | 9.147.251 |
| Other comprehensive expenses | ||
| Items which may be reclassified to the consolidated statement of profit and | ||
| loss account in subsequent periods | ||
| Share in losses from affiliates – Hellenic Bank | (1.066.468) | (673.161) |
| Items not to be reclassified to the consolidated statement of profit and loss | ||
| account in subsequent periods | ||
| Share in profit from affiliates – Hellenic Bank | 341.203 | 1.171.938 |
| Other total income / (expenses) | (725.265) | 498.777 |
| Total income for the year | 4.613.400 | 9.646.028 |
| Net profit attributable to: | ||
| Company shareholders | 5.338.665 | 9.147.251 |
| Basic and fully diluted earnings per share – cents | 2.67 | 4.57 |
| Total income attributable to: | ||
| Company shareholders | 4.613.400 | 9.646.028 |
| Total earnings per share - cents | 2.31 | 4.82 |
| 31/12/2021 | 31/12/2020 | |
|---|---|---|
| € | € | |
| ASSETS | ||
| Non-current assets | ||
| Intangible fixed assets | 1.473.214 | 1.500.019 |
| Investment property | 30.350.533 | 31.782.076 |
| Investments in affiliates | 205.371.916 | 209.833.173 |
| Receivables from affiliates | 11.603.917 | 11.394.475 |
| Deferred taxation | 358.497 | 394.890 |
| Total non-current assets | 249.158.077 | 254.904.633 |
| Current assets | ||
| Inventories | 12.070.636 | 6.998.619 |
| Other receivables | 147.753 | 181.631 |
| Financial assets at fair value through profit and loss | 20.299.176 | 16.362.299 |
| Bank deposits | 8.000 | 8.000 |
| Cash and cash equivalents | 917.223 | 962.572 |
| Current tax liabilities | 26.739 | 26.739 |
| Total current assets | 33.469.527 | 24.539.860 |
| Total assets | 282.627.604 | 279.444.493 |
| EQUITY AND LIABILITIES | ||
| Equity | ||
| Share capital | 140.000.000 | 140.000.000 |
| Reserves | 130.064.956 | 126.959.646 |
| Total equity | 270.064.956 | 266.959.646 |
| Non-current liabilities | ||
| Long-term loans | 7.023.808 | 7.316.612 |
| Total non-current liabilities | 7.023.808 | 7.316.612 |
| Current liabilities | ||
| Current overdrafts | 303.495 | - |
| Current long-term loan instalments | 1.838.302 | 1.841.226 |
| Provision for losses of affiliates | 2.594.747 | 2.497.365 |
| Trade and other creditors | 802.296 | 829.644 |
| Total current liabilities | 5.538.840 | 5.168.235 |
| Total equity and liabilities | 282.627.604 | 279.444.493 |
| Net assets per share – cents | 135.03 | 133.48 |
| 2021 | 2020 | |
|---|---|---|
| € | € | |
| Cash flow from operating activities | ||
| Profit for the year before taxation | 5.399.435 | 9.088.383 |
| Adjustments for: | ||
| Depreciation of intangible fixed assets | 64.043 | 87.262 |
| Loss /(Profit) on the sale and revaluation of intangible fixed assets | (33.237) | 31.508 |
| Profit on the disposal and revaluation of financial assets at fair value | ||
| through profit and loss | (4.039.110) | (797.438) |
| Loss on the sale and revaluation of investment property | 1.333.370 | 1.549.358 |
| Negative goodwill | (43.205) | - |
| (Reversal of provision) / Provision for share in loss from affiliates | (30.981) | 74.110 |
| Share in loss / (profit) from affiliates | 2.453.968 | (10.604.798) |
| Provision / (reversal of provision) for anticipated credit losses | (5.764) | 26.125 |
| Loan interest payable | 320.135 | 366.736 |
| Net cash flow before changes in working capital | 5.418.654 | (178.754) |
| (Increase) / decrease in immovable property inventories | (5.072.017) | 225.000 |
| (Increase) / decrease in other receivables | 33.878 | (61.749) |
| Increase in net receivables from affiliates | (203.678) | (200.714) |
| Net purchases and sales of financial assets at fair value | ||
| through profit and loss | 102.233 | 274 |
| (Decrease) / increase in trade and other creditors | (27.348) | 139.679 |
| Decrease in bank deposits | - | 844.395 |
| Purchase of investment property | (37.753) | (690.781) |
| Adjustment of cost of investment property | 5.926 | 5.943 |
| Proceeds from sale of investment property | 130.000 | - |
| Cash from operating activities | 349.895 | 83.293 |
| Tax paid | (24.377) | (35.314) |
| Net cash from operating activities | 325.518 | 47.979 |
| Cash flow from investing activities | ||
| Purchase of intangible fixed assets | (4.001) | (28.224) |
| Purchase of affiliates | (54.498) | - |
| Net cash for investing activities | (58.499) | (28.224) |
| Cash flow from financing activities | ||
| Proceeds from new loan | 2.982.090 | - |
| Loan repayment | (3.597.953) | (1.594.480) |
| Net cash for financing activities | (615.863) | (1.594.480) |
| Net decrease in cash and cash equivalents | (348.844) | (1.574.725) |
| Cash and cash equivalents at beginning of year | 962.572 | 2.537.297 |
| Cash and cash equivalents at end of year | 613.728 | 962.572 |
for the year ended 31 December 2021
| Share capital € |
Exchange difference reserve € |
Negative goodwill reserve € |
(Accumulated Losses) accumulated profits € |
Total equity € |
|
|---|---|---|---|---|---|
| Balance as at 1 January 2020 | 140.000.000 | 319.437 | 119.850.066 | (2.501.446) | 257.668.057 |
| Net profit for the year after taxation | - | - | - | 9.147.251 | 9.147.251 |
| Other total expenses for the year after taxation |
- | - | - | 498.777 | 498.777 |
| Other transactions with shareholders | - | - | - | (354.439) | (354.439) |
| Balance as at 31 December 2020 / 1 January 2021 |
140.000.000 | 319.437 | 119.850.066 | 6.790.143 | 266.959.646 |
| Adjustments of previous years | (128.363) | (128.363) | |||
| Net profit for the year after taxation | - | - | - | 5.338.665 | 5.338.665 |
| Other total expenses for the year after taxation |
- | - | - | (725.265) | (725.265) |
| Other transactions with shareholders | - | - | - | (1.379.727) | (1.379.727) |
| Balance as at 31 December 2021 | 140.000.000 | 319.437 | 119.850.066 | 9.895.453 | 270.064.956 |
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