Demetra Holdings Plc

Earnings Release • Nov 8, 2018

INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME for the period 1 January 2018 to 30 September 2018

	Nine months ended 30 September
	2018	2017
	€	€
Income
Dividends receivable	495.036	418.877
Interest receivable and other finance income	247.233	791.224
Profit from the sale. revaluation and exploitation of land and immovables	864.439	778.044
Profit from financial assets	3.382.416	5.807.273
	4.989.124	7.795.418
Operating expenses	(1.122.800)	(1.087.989)
Finance cost	(127.085)	(25.904)
Reversal of provision / (provision) for share in loss from affiliates Profit before taxation	47.107 3.786.346	(97.851) 6.583.674
Taxation	(29.266)	22.150
Net profit for the period	3.757.080	6.605.824
Other comprehensive expenses
Amounts to be classified in the consolidated profit or loss account in future periods
Profit from revaluation of investments available for sale	-	15.323
Profit from revaluation of investments at fair value through other
comprehensive income	8.531	-
Total income for the period	3.765.611	6.621.147
Net profit attributable to:

Shareholders of the Company 3.757.080 6.605.824 Profit per share - cent 1.88 3.30

INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 30 September 2018

	30 September	31 December
	2018	2017
	€	€
ASSETS
Non-current assets
Intangible fixed assets	1.401.774	1.508.866
Immovable property for investment	31.757.046	31.335.267
Financial assets available for sale	-	291.469
Receivables from affiliates	11.233.279	11.066.713
Deferred taxation	1.151.662	1.151.662
Total non-current assets	45.612.488	45.353.977
Current assets
Inventories	7.774.917	7.737.324
Loans and other receivables	191.857	159.773
Financial assets at fair value through profit and loss	29.197.763	61.517.514
Bank deposits	11.638.225	5.483.890
Cash and cash equivalents	30.752.700	1.222.815
Current tax claims	73.919	175.823
Total current assets	79.629.381	76.297.139
Total assets	125.241.869	121.651.116
NET POSITION AND LIABILITIES
Equity
Share capital	140.000.000	140.000.000
Reserves	(17.861.395)	(21.627.006)
Total equity	122.138.605	118.372.994
Current liabilities
Provision for losses of affiliates	2.589.161	2.636.268
Trade and other creditors	514.103	614.854
Total current liabilities	3.103.264	3.278.122
Total equity and liabilities	125.241.869	121.651.116
Net asset per share - cent	61.07	59.19

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS for the period 1 January 2018 to 30 September 2018

	Nine months ended 30 September
	2018	2017
	€	€
Cash flow from operating activities
Profit before taxation	3.786.346	6.583.674
Adjustment for:
Depreciation of intangible fixed assets	68.728	70.368
Profit from disposal and revaluation of financial assets at fair price through
profit and loss	(3.382.416)	(5.807.273)
(Reversal of provision) / provision for share in loss from affiliates	(47.107)	97.851
Net cash flow before changes in working capital	425.551	944.620
Increase in inventories	(37.593)	-
(Increase) / decrease in loans and other receivables	(32.084)	193.763
Net purchases and sales of financial assets at fair value through profit and
loss	35.702.167	67.030
Increase in receivables from affiliates	(166.566)	(314.401)
Increase in bank deposits	(6.154.335)	(418.855)
Decrease in trade and other creditors	(127.751)	(201.857)
Cash from operating activities	29.609.389	270.300
Tax received / (paid)	72.638	(10.109)
Net cash from operating activities	29.682.027	260.191
Cash flow from investing activities
Purchase of intangible fixed assets	(30.363)	(17.777)
Proceeds from financial assets at fair value through other comprehensive
income	300.000	-
Purchase of immovable property for investment	(421.779)	(89.966)
Net cash for investing activities	(152.142)	(107.743)
Net increase in cash and cash equivalents	29.529.885	152.448
Cash and cash equivalents at beginning of period	1.222.815	975.465
Cash and cash equivalents at end of period	30.752.700	1.127.913

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY for the period 1 January 2018 to 30 September 2018

Share capital € Share capital conversion reserve € Exchange difference reserve € Investments available for sale reserve € Investment at fair value through other comprehensive income reserve € Accumulated Loss € Total equity € Balance as at 1 January 2017 140.000.000 860.144 319.437 (32.674) - (24.556.350) 116.590.557 Profit for the period - - - - - 6.605.824 6.605.824 Other total income for the period - - - 15.323 - - 15.323 Balance as at 30 September 2017 140.000.000 860.144 319.767 (17.351) - (17.950.526) 123.211.704 Balance as at 1 January 2018 140.000.000 860.144 319.767 (8.531) - (22.798.056) 118.372.994 Transfer between reserves - - - 8.531 (8.531) - - Profit for the period - - - - - 3.757.080 3.757.080 Other total income for the period - - - - 8.531 - 8.531 Balance as at 30 September 2018 140.000.000 860.144 319.437 - - (19.040.976) 122.138.605