Dromeas S.A.

Annual / Quarterly Financial Statement • Apr 27, 2021

					PAPAPANAGIOTOU S.A. - "DROMEAS" INDUSTRIAL JOINT-STOCK COMPANY OF COMMERCE AND AGENCIES
					Number of General Commercial Register 114048152000 (Register Number of Joint Stock Companies 11045/06/Β/86/10) COMPANY'S HEADQUARTERS: INDUSTRIAL AREA OF SERRES - MUNICIPALITY OF LEFKONAS SERRES FIGURES AND INFORMATION FOR THE FINANCIAL YEAR FROM 1 JANUARY 2020 TO 31 DECEMBER 2020
					(published according to L. 4548/2018, article 149 for companies that prepare annual financial statements, consolidated and non-consolidated, in accordance with IAS)
according to the International Financial Reporting Standards.					The figures and information illustrated below, derived from the financial statements, provide a general information about the financial position and results of "PAPAPANAGIOTOU S.A. - DROMEAS" and of the Group of companies "PAPAPANAGIOTOU S.A. - DROMEAS". We advise the reader, before making any investment decision or other transaction concerning the company, to visit the company's web site where the audit report of the external auditor and the financial statements are presented,
Competent Authority - Prefecture: Website address:	www.dromeas.gr				Ministry of Development, Management of limited companies & credits, Management of companies & G.C.R.
Date of Approval of Annual Financial Statements:	23 April 2021
Board of Directors:	President and CEO : Athanasios K. Papapanagiotou.				Vice President: Konstantinos A. Papapanagiotou, Executive Member: Stavroula Α. Papakonstantinou
					Non executive member: Stilianos G. Petrislis, Independent non executive members: Grigorios Β. Zarotiadis, Panagiotis Α. Panagiotakis.
Certified Auditor Accountant: Auditing Firm:					Athanasios D. Tsaklis (Register Number of the Body of Certified Auditors Accountants 14951) METRON AUDITING S.A. (Register Number of the Body of Certified Auditors Accountants 158)
Type of auditor's report:	Confirmed Opinion
BALANCE SHEET (consolidated and non consolidated) amounts in thousand €					STATEMENT OF CHANGES IN SHAREHOLDER EQUITY (consolidated and non consolidated) amounts in thousand €
	THE GROUP		THE COMPANY				THE GROUP	THE COMPANY
ASSETS	31-12-20	31-12-19	31-12-20	31-12-19		1/1-31/12/20	1/1-31/12/19	1/1-31/12/20	1/1-31/12/19
Non current tangible fixed assets Intangible assets	35,583 127	35,303 199	32,043 68	31,623 134	Total equity capital at beginning of period (1/1/20 and 1/1/19 respectively) Total comprehensive income after taxes	26,491 749	26,073 411	27,184 827	26,557 627
Other non-current assets	784	719	3,819	3,818	Distributed Dividends	0	0	0	0
Inventories	14,132	14,070	13,852	14,039	Other changes	(6)	7	(16)	0
Advances for inventories purchase Trade receivables	412 9,863	316 8,801	411 10,509	312 9,381	Total equity capital at end of period (31/12/20 and 31/12/19 respectively)	27,234	26,491	27,995	27,184
Other current assets	4,575	2,675	4,151	2,252
TOTAL ASSETS	65,476	62,083	64,853	61,559
EQUITY CAPITAL & LIABIBLITIES					CASH FLOW STATEMENT (consolidated and non consolidated) amounts in thousand €
Share capital (34.720.000 shares of 0,31 €)	10,763	10,763	10,763	10,763			THE GROUP	THE COMPANY
Other equity capital	16,316	15,568	17,232	16,421		1/1-31/12/20	1/1-31/12/19	1/1-31/12/20	1/1-31/12/19
Total Equity Capital of Parent Company's Holders (a) Minority interest (b)	27,079 155	26,331 160	27,995 0	27,184 0	Operational Activities Profit /(loss) before taxes (continuing activities)	747	386	818	620
Total Equity capital (c) = (a)+(b)	27,234	26,491	27,995	27,184	Plus / minus adjustments for :
Long - term loan liabilities	18,438	17,978	18,187	17,711	Depreciation	1,288	1,401	1,166	1,268
Deferred long - term tax liabilities Provisions / Other long-term liabilities	3,552 2,257	3,554 2,325	3,330 1,537	3,340 1,581	Provisions Exchange differences	30 0	108 0	30 0	108 0
Short - term loan liabilities	9,194	7,944	9,093	7,839	Debit interest and similar expenses	694	1,408	681	1,393
Other short - term liabilities	4,801	3,791	4,711	3,904	Returns (income, expenses, profit, loss) from investment activity	28	87	13	87
Total liabilities(d) TOTAL EQUITY CAPITAL AND LIABILITIES (c) + (d)	38,242 65,476	35,592 62,083	36,858 64,853	34,375 61,559	Plus/minus adjustments concerning changes in working capital accounts or related to operating activities:
					Increase (decrease) in inventories	(158)	(248)	88	(242)
INCOME STATEMENT (consolidated and non consolidated) amounts in thousand €					Increase/decrease in other receivables Increase/decrease in liabilities (excluding loans)	(1,126) 1,010	(2,943) 783	(1,185) 807	(2,742) 679
					Minus:
	THE GROUP 1/1-31/12/20	1/1-31/12/19 1/1-31/12/20 1/1-31/12/19	THE COMPANY		Income taxes paid Total of cash flow (inflows - outflows) from operating activities (a)	0 2,513	(17) 965	0 2,418	(1) 1,170
Turnover	21,042	17,691	20,846	17,488	Investemetn Activities
Gross profit/(loss) Profit / (loss) before taxes, interest and investment	7,472	8,057	7,321	8,018	Purchase of tangible and intangible fixed assets and other investments Proceeds from the sales of tangible and intangible assets	(1,649) 3	(280) 5	(1,644) 2	(279) 5
results	1,441	1,794	1,499	2,013	Proceeds from sale of financial investments	0	0	0	0
Profit / (loss) before taxes	747	386	818	620	Interest received	1	0	1	0
Profit / (loss) after taxes (A) Equity holders of Parent company	749 751	411 414	827 827	627 627	Proceeds from dividends Increase/(decrease) in other long - term receivables	0 0	0 0	0 0	0 0
Minority interest	(2)	(3)	0	0	Total of cash flow (inflows - outflows) from investment activities (b)	(1,645)	(275)	(1,641)	(274)
					Financing Activities
Other total earnings after taxes (B) Total comprehensive earnings after taxes (A) + (B)	0 749	0 411	0 827	0 627	Proceeds from increase of Share Capital Dividends paid	0 0	0 0	0 0	0 0
Equity holders of Parent company	751	414	827	627	Proceeds from issued/received loans	16,929	10,781	16,929	10,462
Minority interest	(2)	(3)	0	0	Repayment of loans	(15,896)	(11,358)	(15,863)	(11,280)
Profit / (loss) after taxes per share (in €)	0,0216	0,0119	0,0238	0,0181	Repayment of finance lease liabilities (amortization) Total of cash flow (inflows - outflows) from financing activities ( c)	0 1,033	0 (577)	0 1,066	0 (818)
Proposed Dividend			0.0000	0.0000	Net increase/(decrease) in cash and	1,901	113	1,843	78
Profit / (loss) before taxes, interest and investment results					cash equivalents (a)+(b)+( c)
and total depreciation	2,729	3,195	2,664	3,281	Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period	1,635 3,536	1,522 1,635	1,490 3,333	1,412 1,490
					ADDITIONAL FIGURES AND INFORMATION
1. The Group of companies that are included in the consolidated financial statements with their					7. The amounts of purchases and sales (transactions) from the beginning of the fiscal year and the balances
addresses and the percentage of ownership are as follows: Full consolidation method					of assets and liabilities at the end of the current fiscal year, resulting from transactions with related parties, according to IFRS 24, are as follows (in €):
PAPAPANAGIOTOU S.A. - DROMEAS, Industrial Area of Serres	Parent company
Κ.Ε.Μ. Α.Β.Ε.Ε., ΒΙ.ΠΕ. Σερρών	92.54%						GROUP	COMPANY
DROMEAS B.G. OO, Sofia Bulgaria No changes in the incorporation method have occurred and there are no companies or / and joint ventures	100.00%				a) Income		31-12-20 -	31-12-20 90,005
not included in the consolidated Financial Statements.					b) Expenses		50,329	662,678
All accounting principles applied in these Financial Statements are the same as those applied at 31/12/2019					c) Receivables from related parties		-	801,637
3. The fixed assets and the mechanical equipment of the Parent company have been pledged for the total amount of 21.300 thousand € in order to cover an equal amount of loan liabilities.					d) Liabilities to related parties e) Transactions and remunerations of managers and Board members		6,209 374,802	287,589 341,325
4. The number of employees in the group and the company is:					f) Receivables from managers and Board members		77,221	-
	GROUP 31-12-20	31-12-19	COMPANY 31-12-20	31-12-19	g) Liabilites of managers and Board members		23,616	23,616
Employees (at mentioned period)	53	54	50	51	8. The profit per share in the current and previous period have been calculated according to the weighted average
Workers (at mentioned period)	243	211	212	184	number of shares of the Parent company.
Total	296	265	262	235	9. The unaudited tax years of the Parent company and of the other Group companies are presented in detail in the corresponding section of the annual financial report.
5. There are no litigations under dispute or under arbitration of judicial or administrative bodies, that may have important					10. At the end of the current fiscal year, there are no shares of the Parent company possesed by the Parent
repercussion in the financial position of the Company and the Group.					company or by the subsidiaries and associated companies.
6. The provision amount for bad debts on 31/12/2020 comes up to 665.530 € for the Group and for the company to 663.150 €. The company has no tax cases under dispute, while for the unaudited fiscal years has formed sufficient					11. There are no other significant issues after 31 December 2020, which would diversify the published data and information in the Financial Statements.
provision of total amount to € 103.353. The other formed provisions on 31/12/2020 come up to					12. There has not occurred an interruption of individual sectors or company of the Group.
227.871 € for the Group and 222.686 € for the Company.					13. Analysis of the other changes in Equity capital is included in the respective notes of the Annual Financial Report.

For more information, please refer to the respective notes of the annual financial report.

ATHANASIOS K. PAPAPANAGIOTOU KONSTANTINOS A. PAPAPANAGIOTOU THEODOROS TRIANTAFYLLIDIS I.D. ΑM 430530 I.D. ΑΟ 224161 First Class Accountant, Reg. No.: 65724