**" ELGEKA S.A. TRADE - DISTRIBUTIONS - REPRESENTATIONS - INDUSTRY "**
## **G.C.R. Number: 57298604000 HEAD OFFICE: INDUSTRIAL AREA OF SINDOS, DELTA MUNICIPALITY - THESSALONIKI**
**SUMMARY FINANCIAL DATA & INFORMATION FOR THE YEAR 1 January 2020 - 31 December 2020**
| | INFORMATION CONCERNING THE COMPANY | | | | 1.2. STATEMENT OF COMPREHENSIVE INCOME (consolidated and stand alone) amounts in thousand Euro | | | | |
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| Registered Prefecture:<br>Ministry of Development and Investments, General Secretariat for Commerce & | | | | | | GROUP | | PARENT | |
| | Consumer Protection, Directorate of Societe Anonyme Companies | | | | | | | | |
| Company's website: | http://www.elgeka.gr | | | | | 01.01 - 31.12.2020 | 01.01 - 31.12.2019 | | 01.01 - 31.12.2020 01.01 - 31.12.2019 |
| Date of approval of Annual Financial Statements | | | | | Sales | 192.494 | 179.223 | 68.814 | 64.515 |
| by the Board of Directors: | 5 March 2021 | | | | Gross profit / (loss) | 33.432 | 30.862 | 23.662 | 21.892 |
| Certified Auditor Accountant: | Nikos Garbis - SOEL Reg. No. 25011 | | | | Profit /(loss) before taxes, financing | | | | |
| Audit firm: | GRANT THORNTON S.A. | | | | and investing activities | 5.568 | 4.828 | 2.237 | 3.133 |
| Type of auditor's opinion: | Unqualified report | | | | Profit /(loss) before taxes | (1.394) | 2.319 | 35 | 1.619 |
| Composition of Board of Directors: | Chairman & Managing Director - Executive member | | Alexandros Katsiotis | | Less: Taxes | (34) | 468 | (1) | 699 |
| | Vice-chairman - Non-Executive member | | Elli Drakopoulou | | Profit / (loss) after taxes (A) | (1.360) | 1.851 | 36 | 920 |
| | Non-executive member | | Michail Fandridis | | | | | | |
| | Non-executive member | | Adamantios Lentsios | | Distributed to: | | | | |
| | Independent, Non-executive member | | Stilianos Stefanou | | Equity holders of the Parent | (2.284) | 413 | 36 | 920 |
| | Independent, Non-executive member | | Nikolaos Milios | | Non-controlling interest | 924 | 1.438 | 0 | 0 |
| | | | | | | | | | |
| | 1.1 STATEMENT OF FINANCIAL POSITION (consolidated and stand alone) amounts in thousand Euro | | | | Other comprehensive income/(loss) for the year, net of tax (B) | (518) | (594) | (10) | (23) |
| | GROUP | | PARENT | | Total comprehensive income/(loss) for the year, net of tax (A+B) | (1.878) | 1.257 | 26 | 897 |
| | 31.12.2020 | 31.12.2019 | 31.12.2020 | 31.12.2019 | | | | | |
| ASSETS | | | | | Distributed to: | | | | |
| Tangible assets | 32.945 | 34.046 | 5.961 | 6.024 | Equity holders of the Parent | (2.586) | 80 | 26 | 897 |
| Investment property | 23.377 | 24.763 | 9.214 | 8.770 | Non-controlling interest | 708 | 1.177 | 0 | 0 |
| Intangible assets | 4.658 | 5.901 | 120 | 129 | | | | | |
| Rights-of-use assets | 10.873 | 11.042 | 298 | 539 | Profit/(loss) after taxes per share - basic (in Euro) | (0,0720) | 0,0130 | 0,0011 | 0,0290 |
| Other non-current assets | 17.355 | 17.672 | 32.555 | 32.381 | Proposed dividend per share (in Euro) | | | 0,0000 | 0,0000 |
| Inventories | 13.109 | 14.392 | 4.383 | 4.306 | Profit /(loss) before taxes, financing, investing | | | | |
| Trade receivables | 31.332 | 33.206 | 11.574 | 14.666 | activities, depreciation & amortization | 13.595 | 13.003 | 2.821 | 3.786 |
| Other assets | 19.295 | 16.409 | 10.326 | 7.771 | | | | | |
| TOTAL ASSETS | 152.944 | 157.431 | 74.431 | 74.586 | | | | | |
| | | | | | 1.3 STATEMENT OF CHANGES IN EQUITY (consolidated and stand alone) amounts in thousand Euro | | | | |
| EQUITY & LIABILITIES | | | | | | | | | |
| Share capital | 7.616 | 50.775 | 7.616 | 50.775 | | GROUP | | PARENT | |
| Other accounts related to Shareholders' Equity | (16.996) | (57.413) | 3.182 | (39.928) | | 31.12.2020 | 31.12.2019 | 31.12.2020 | 31.12.2019 |
| Total Equity attributable to Shareholders of the Parent Company (a) | (9.380) | (6.638) | 10.798 | 10.847 | Equity at the beginning of the year | | | | |
| Non-controlling interest (b) | 11.594 | 11.297 | 0 | 0 | (01.01.2020 and 01.01.2019, respectively) | 4.659 | 3.406 | 10.847 | 9.953 |
| Total Equity ( c ) = ( a ) + ( b ) | 2.214 | 4.659 | 10.798 | 10.847 | Total comprehensive income/(loss), net of tax | (1.878) | 1.257 | 26 | 897 |
| Long-term borrowings | 55.934 | 51.352 | 32.434 | 34.520 | Other changes | (156) | (4) | (75) | (3) |
| Provisions / Other long-term liabilities | 27.596 | 29.521 | 721 | 850 | Dividends paid to non-controlling interest | (411) | 0 | 0 | 0 |
| Short-term borrowings | 15.681 | 14.578 | 7.513 | 5.461 | Equity at the end of the year (31.12.2020 and 31.12.2019, respectively) | 2.214 | 4.659 | 10.798 | 10.847 |
| Other current liabilities | 51.519 | 57.321 | 22.965 | 22.908 | | | | | |
| Total liabilities ( d ) | 150.730 | 152.772 | 63.633 | 63.739 | | | | | |
| 152.944<br>157.431<br>74.431<br>74.586<br>TOTAL EQUITY AND LIABILITIES ( c ) + ( d ) | | | | 1.4 STATEMENT OF CASH FLOWS (consolidated and stand alone) amounts in thousand Euro | | | | | |
| | | | | GROUP | | | PARENT | | |
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| | Consumer Protection, Directorate of Societe Anonyme Companies | | | | | 01.01 - 31.12.2020 | 01.01 - 31.12.2019 | 01.01 - 31.12.2020 01.01 - 31.12.2019 | |
| Date of approval of Annual Financial Statements | | | | | Sales | 192.494 | 179.223 | 68.814 | 64.515 |
| | 5 March 2021 | | | | Gross profit / (loss) | 33.432 | 30.862 | 23.662 | 21.892 |
| | Nikos Garbis - SOEL Reg. No. 25011 | | | | Profit /(loss) before taxes, financing | | | | |
| | GRANT THORNTON S.A. | | | | and investing activities | 5.568 | 4.828 | 2.237 | 3.133 |
| | Unqualified report | | | | Profit /(loss) before taxes | (1.394) | 2.319 | 35 | 1.619 |
| | Chairman & Managing Director - Executive member | | Alexandros Katsiotis | | Less: Taxes | (34) | 468 | (1) | 699 |
| | Vice-chairman - Non-Executive member | | Elli Drakopoulou | | Profit / (loss) after taxes (A) | (1.360) | 1.851 | 36 | 920 |
| | Non-executive member | | Michail Fandridis | | | | | | |
| | Non-executive member | | Adamantios Lentsios | | Distributed to: | | | | |
| | Independent, Non-executive member | | Stilianos Stefanou | | Equity holders of the Parent | (2.284) | 413 | 36 | 920 |
| | Independent, Non-executive member | | Nikolaos Milios | | Non-controlling interest | 924 | 1.438 | 0 | 0 |
| | 1.1 STATEMENT OF FINANCIAL POSITION (consolidated and stand alone) amounts in thousand Euro | | | | Other comprehensive income/(loss) for the year, net of tax (B) | (518) | (594) | (10) | (23) |
| | GROUP | | PARENT | | Total comprehensive income/(loss) for the year, net of tax (A+B) | (1.878) | 1.257 | 26 | 897 |
| | 31.12.2020 | 31.12.2019 | 31.12.2020 | 31.12.2019 | Distributed to: | | | | |
| | 32.945 | 34.046 | 5.961 | 6.024 | Equity holders of the Parent | (2.586) | 80 | 26 | 897 |
| | 23.377 | 24.763 | 9.214 | 8.770 | Non-controlling interest | 708 | 1.177 | 0 | 0 |
| | | | | | | | | | |
| | 10.873 | 11.042 | 298 | 539 | Profit/(loss) after taxes per share - basic (in Euro) | (0,0720) | 0,0130 | 0,0011 | 0,0290 |
| | 17.355 | 17.672 | 32.555 | 32.381 | Proposed dividend per share (in Euro) | | | 0,0000 | 0,0000 |
| | 13.109 | 14.392 | 4.383 | 4.306 | Profit /(loss) before taxes, financing, investing | | | | |
| | 31.332 | 33.206 | 11.574 | 14.666 | activities, depreciation & amortization | 13.595 | 13.003 | 2.821 | 3.786 |
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| 1.3 STATEMENT OF CHANGES IN EQUITY (consolidated and stand alone) amounts in thousand Euro | | | | | | | |
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| Equity at the end of the year (31.12.2020 and 31.12.2019, respectively) | 2.214 | 4.659 | 10.798 | 10.847 | | | |
The financial data and information presented below provide a general overview of the financial position and results of the Group and ELGEKA S.A. - Trade - Distributions - Industry. Therefore, it is recommended to any reader, before proceeding to any investment decision or other transaction with the company, to visit the company's website, where the Annual Financial Statements are published, together with the review report of certified auditors - accountants whenever is required.
| | ADDITIONAL DATA AND INFORMATION | | | | | | GROUP | PARENT | |
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| 1.The name and country of registered office for each of the companies included in the consolidated financial statements as per December 31st<br>percentage of participation in their share capital are included in Note 1 in Consolidated Financial Statements. | | | | , 2020, as well as the corresponding direct and indirect | INDIRECT METHOD | | 01.01 - 31.12.2020 01.01 - 31.12.2019 01.01 - 31.12.2020 01.01 - 31.12.2019 | | |
| 2.The accounting principles applied are the same with the ones applied for the preparation of Annual Financial Statements for the year ended on December 31st, 2019, apart from the new or revised<br>accounting standards and interpretations endorsed in 2020, as they are presented in Note 2 of Annual Financial Statements. | | | | | Operating activities | | | | |
| 3.The unaudited fiscal years for each of the companies included into the Consolidated Financial Statements are analytically presented in Note 15 of Annual Financial Statements. Since fiscal year | | | | Profit / (Loss) before taxes | (1.394) | 2.319 | 35 | 1.619 | |
| 2011, according to Ministry Decision 1159/2011, for all companies in which the annual Financial Statements are being audited by certified auditors, Annual Tax Certificate is issued following a tax<br>audit conducted by the same certified auditors who audit the Financial Statements. | | | | | Add/less Adjustments for: | | | | |
| 4.On December 31st, 2020, there were mortgages on the on the fixed assets of the Parent Company of total amount 25.186 thousand euro (31/12/2019: 25.186 thousand euro), while on the fixed | | | | | Depreciation and amortization | 8.110 | 8.263 | 584 | 653 |
| assets of the Group there were mortgages amounting to 40.846 thousand (31/12/2019: 45.367 thousand euro) as security for loans.<br>5.There is no pending litigation that could materially affect the financial position or operation of the Parent Company and the Group. The aggregated amount of provisions for bad and doubtful debts | | | | | Provisions | 287 | 807 | 266 | 135 |
| for the Group and Parent Company at 31/12/2020 amounted to 4.365 thousand euro and 2.249 thousand euro respectively (31/12/2019: 4.532 thousand euro και 2.178 thousand euro, respectively). | | | | | Unrealised foreign exchange differences | 19 | 90 | 0 | 0 |
| The cumulative provision for tax unaudited years as of 31/12/2020 for the Group and the Parent Company amounted to 0 thousand euro (31/12/2019: 0 thousand euro, respectively), whereas no<br>provisions were created under the heading "Other Provisions" neither for the Group nor for the Parent Company as prescribed in paragraphs 10, 11 and 14 of I.A.S. 37 "Provision, contingent | | | | | Translation exchanges differences | (67) | (66) | 0 | 0 |
| liabilities and contingent assets". | | | | | Amortization of government grants | (83) | (88) | 0 | 0 |
| 6.The number of employees as at 31/12/2020 was 874 for the Group and 114 for the Parent Company respectively (31/12/2019: Group 866 and Company 105, respectively). | | | | | Results (income, expense, gains & losses) | | | | |
| 7.All activities (sales and purchases of goods and services) aggregating from the beginning of the year as well as receivable and payable balances of the Parent Company and the Group in the end of<br>the current year, created from transactions with related companies, as these are defined in I.A.S. 24, with distinct reference to the remuneration and balances of key management personnel and | | | | | of investing activities | 500 | (3.333) | (855) | (913) |
| members of the board, are given below: | | | | | Interest expense & similar charges | 6.352 | 4.854 | 3.057 | 1.779 |
| | GROUP | PARENT | | | | | | | |
| a) Sales of goods and services | 3.437 | 1.392 | | | Add/less adjustments for changes in working capital or | | | | |
| b) Purchases of goods and services | 701 | 4.105 | | | changes related to operating activities: | | | | |
| c) Receivables<br>d) Payables | 2.220 | 869 | | | Decrease/(Increase) in inventories | 1.197 | (819) | (128) | (394) |
| e) Key management personnel and member of the board compensation | 8.636<br>933 | 9.996<br>873 | | | Decrease/(Increase) in receivables | | | | |
| f) Receivables from key management personnel and member of the board | - | - | | | Increase/(Decrease) in payables (excluding borrowings) | 4.524 | (9.665) | 4.017 | (3.628) |
| g) Payables to key management personnel and member of the board | - | - | | | Less: | (7.427) | 5.221 | (71) | 3.612 |
| | | | | | Interest expense & similar charges paid | | | | |
| The parent Company's balances of sales-income, purchases-expenses, receivables and payables with related parties have been eliminated for the consolidation of the Financial Statements as at<br>December 31st, 2020. | | | | | | (4.786) | (7.085) | (2.392) | (4.024) |
| 8.Investments in fixed assets that took place from the Group and the Parent Company during 2020 amounted to 1.585 thousand euro (2019: 2.082 thousand euro) and 267 thousand euro (2019: 254 | | | | | Income taxes paid | (378)<br>6.854 | (418)<br>80 | 0<br>4.513 | 0<br>(1.161) |
| thousand) respectively. | | | | | Net cash flows from/(used in) operating activities (a) | | | | |
| 9.Earnings per share (EPS) have been calculated using the profit or loss after tax and non-controlling interest divided by the weighted average number of ordinary shares in circulation of the Parent<br>Company during 2020. | | | | | | | | | |
| 10.Neither any of subsidiary nor the Parent held shares of the Parent Company at the end of the current year. | | | | | Investing activities | | | | |
| 11.a. The companies "ELGEKA FERFELIS S.R.L." and "EFB L.T.D." have applied for liquidation to the local authorities. The liquidation process has not completed by December 31st 2020. The figures | | | | | Increase of share capital of subsidiaries / Finacial assets | (200) | 0 | (200) | (128) |
| were insignificant for consolidation purposes.<br>The above mentioned events are presented in Notes 1 of Annual Financial Statements. | | | | | Purchase of property, plant & equipment and intangible assets | (1.585) | (2.062) | (267) | (254) |
| 12.The amounts and the nature of the other comprehensive income after taxes are analyzed as follows: | | | | | Proceeds from sale of property, plant & equipment and intangible assets | 88 | 2.501 | 5 | 851 |
| | | | | | Purchase of sale of investment property | 0 | (20) | 0 | 0 |
| Nature of Other Comprehensive Income / (loss) after taxes | | GROUP<br>(01.01-31.12.2020) | | COMPANY<br>(01.01-31.12.2020) | Proceeds from sale of investment property | 559 | 505 | 0 | 0 |
| Exchange differences from translation of foreign subsidiaries | | (316) | | - | Interest received | 12 | 11 | 0 | 2 |
| Actuarial gains / (losses) | | (90) | | (10) | Net cash flows from/(used in) investing activities (b) | (1.126) | 935 | (462) | 471 |
| Participation in Other comprehensive income / (loss) of joint ventures | | (112) | | - | | | | | |
| Other comprehensive income / (loss) after taxes | | (518) | | (10) | Financing activities | | | | |
| | | | | | Proceeds from loans | 117.277 | 152.461 | 12.913 | 47.165 |
| 13.The Investment Property of the Group and the Company are stated at fair value by accredited certified valuators. As at December 31st<br>thousand euro, for the Group and the Company respectively, by the investment property valuations, that affected the Results. The corresponding amounts for 2019 were a profit of 920 thousand euro | | | | , 2020, it was accrued a profit of 138 thousand euro and 444 | Repayment of loans | (112.530) | (151.724) | (13.589) | (49.978) |
| and 263 thousand euro, for the Group and the Company respectively, that affected the Results. | | | | | Payment of leasing liabilities | | | | |
| 14. The Extraordinary General Meeting of Shareholders of the Parent Company "ELGEKA S.A." of December 11, 2020 decided to reduce the share capital of the Company by the amount of 43.159<br>thousand euro with a reduction of the nominal value of each common registered voting share of the Company from 1,60 euro to 0,24 euro, and with the equivalent write-off (offset) of accumulated<br>accounting losses of previous years, namely the amount of 43.159 thousand euro. This method is a rehabilitation method, as the Company presents its financial position more clearly. After the above | | | | | (5.025) | (5.423) | (266) | (262) | |
| | | | | Dividends paid to non-controlling interest | (411) | 0 | 0 | 0 | |
| reduction, the share capital of the Company amounts to 7.616 thousand euro divided into 31.734.530 common registered voting shares, with a nominal value of 0,24 euro each. In addition, the same<br>Extraordinary General Meeting decided the increase of the share capital of the Company up to the amount of 6.855 thousand euro with cash payment and pre-emptive right in favor of the old<br>shareholders, in accordance with article 26 of L.4548/2018, as in force, and the issuance of up to 28.561.077 new common registered voting shares, with a nominal value of 0,24 euro each, in a ratio | | | | | Net cash flows from/(used in) investing activities | (689) | (4.686) | (942) | (3.075) |
| | | | | | Net increase/(decrease) in cash | | | | |
| of nine (9) new shares for every ten (10) old shares and Issue Price that will be defined by a new decision of the Board of Directors. On 29.12.2020 was registered in the General Commercial<br>Register (G.E.MI.), with Registration Code Number 2433521, the decision number 138581/29.12.2020 of the Ministry of Development & Investments (General Secretariat for Commerce & Consumer | | | | | and cash equivalents ( a ) + ( b ) + ( c ) | 5.039 | (3.671) | 3.109 | (3.765) |
| Protection - General Secretariat of Market - Directorate of Companies - Department of Supervision of Public Companies & Athletic Companies) with which approved the amendment of article 5 of the | | | | | Cash and cash equivalents at the beginning of the period | 2.219 | 5.890 | 1.254 | 5.019 |
| Company's Articles of Association, in accordance with the decisions from 11.12.2020 of Extraordinary General Meeting of the Company's Shareholders.<br>15. Except of the emergence and spread of the COVID-19 pandemic referred to in Note 45 of the Annual Financial Report, there are no other events that took place after the date of Financial | | | | | Cash and cash equivalents at the end of the period | 7.258 | 2.219 | 4.363 | 1.254 |
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| Statements that relate either to Group or to Company, for which it is required by International Financial Reporting Standards either disclosure or alteration in the amounts of published Financial<br>Statements. | | | |
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| | Industrial area of Sindos - Thessaloniki, 5 March 2021 | | |
| CHAIRMAN OF THE B.o.D. & MANAGING DIRECTOR | VICE - CHAIRMAN | GROUP CHIEF FINANCIAL OFFICER | ACCOUNTING AND TAX PLANNING<br>MANAGER OF GROUP |
| | | | |
| ALEXANDROS KATSIOTIS<br>ID. No. X 232184 / 01 | ELLI DRAKOPOULOU | CHRISTINE ANGELA PAPANDREOU | KONSTANTINOS MEINTANIS |
| | ID. No. AΒ 287230 / 06 | PASSPORT No.: GBR 516630627 / 07-06-2013 | VAT: 030961080 P.F.C.: Z' THESSALONIKI<br>ACC. REG. No. 0017678 CLASS: A' |
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