Elton S.A.

Annual / Quarterly Financial Statement • Apr 27, 2021

COMPANY 1/1-31/12/2020 1/1-31/12/2020
991.828
335.000
1.642.541
0
1.182.821 698.808
0

9. The other comprehensive income after tax are:

FINANCIAL STATEMENTS AND INFORMATION of period from 1st January 2020 until 31st December 2020

Company's No in the Registry of S.A. : 346001000

Head Office: Avlonas Attiki , Draseza place (Industrial zone Avlona)

ELTON INTERNATIONAL TRADING COMPANY S.A.

1. The companies of the Group with their respective countries of residence and percentage holdings, included in the consolidated financial statements
COMPANY	COUNTRY	PERCENTAGE HOLDING	CONSOLIDATION METHOD
ELTON INTERNATIONAL TRADING COMPANY SA	GREECE	PARENT
ELTON CORPORATION SA	ROMANIA	100%	FULL
ELTON CORPORATION EOOD	BULGARIA	100%	FULL
ELTON CORPORATION DOO	SERBIA	100%	FULL
ELTON CORPORATION LLC	UKRAINE	100%	FULL
ELTON MARMARA KIMYA SANAYI VE TICARET AS	TURKEY	100%	FULL

	COMPANY INFORMATION					1.3 CASH FLOW STATEMENT
Website :	www.elton-group.com					Consolidated and Company's (amounts in euro)
Board of Directors :	President and CEO :		Nestor D. Papathanasiou				GROUP		COMPANY
	Executive members : Not executive member :	Alkisti N.Papathanasiou, Dimitrios Giotopoulos, Elektra Ν. Papathanasiou, Antonios Mouzas,			Operating Activities	1/1-31/12/2020	1/1-31/12/2019	1/1-31/12/2020
		Lawrence Alvertis			Profit before taxes	4.743.653	4.712.015	3.609.084
	Ιndependent & not executive members : Christos Poulis and Michalis Hatzis				Adjustments for :
Date of Financial Statements' approval by the Board : 23/4/2021					Depreciation and Amortization	1.712.528	1.702.204	974.223
Certified Auditor	Ioannis Savadis S.O.E.L. 33391				Amortization of grants	(69.102)	(69.102)	(69.102)
Audit firm :	SOL AE OE				Provisions/ Impairments	1.137.236	428.071	703.268
Type of Audit Review :	Unqualified opinion				Exchange Differences	(412.667)	(429.206)	(3.605)
	1.1. STATEMENT OF FINANCIAL POSITION				(Gain) or Loss from Investing activities	(58.612)	357.049	(116)
	(consolidated and company's) Amounts in euro				Interest and similar charges	843.858	1.308.575	536.419
	GROUP		COMPANY		Working capital changes
ASSETS	31/12/2020	31/12/2019	31/12/2020	31/12/2019	Decrease / (increase) of inventory	1.135.716	358.294	(238.220)
Fixed Assets	16.035.727	16.755.458	9.895.500	10.338.883	Decrease / (increase) of trade receivables	3.866.926	(3.331.642)	3.568.481
Rights of use of assets	1.519.028	1.662.712	681.524	777.114	(Decrease) / increase of liabilities (except loans)	(1.517.423)	638.412	(408.422)
Intagible Assets	1.716.178	2.293.632	1.628.731	2.171.302	Less :
Other non current Assets	1.512.869	1.382.870	15.403.705	14.155.706	Interest and similar charges paid	(911.525)	(1.578.181)	(448.014)
Inventories	21.886.441	23.142.164	12.184.083	11.945.863	Tax paid	(572.733)	(2.003.948)	(319.420)
Trade Receivables	41.576.771	45.598.443	31.270.638	34.309.259	Total cash/(used in) generated from operating activities(a)	9.897.855	2.092.543	7.904.577
Other current Assets	9.111.703	4.983.161	7.124.997	3.608.465	Investing Activities
TOTAL ASSETS	93.358.717	95.818.440	78.189.177	77.306.591	Acquisition of Subsidiary	(885.270)	0	(1.200.000)
EQUITY AND LIABILITIES					Purchase of Intagible Assets, Property	(139.763)	(540.924)	(90.912)
Share Capital	13.899.697	13.899.697	13.899.697	13.899.697	Sale of fixed and Intagible assets	54.556	41.919	0
minus : purchase of company's own shares	0	0	0	0	Interest received	156.423	291.690	351
Other net Equity	39.977.732	38.975.351	36.181.293	34.567.574	Dividends received	0	0	0
Equity attributable to the equity holders of the parent (a)	53.877.429	52.875.048	50.080.990	48.467.271	Total cash/(used in) generated from investing activities(b)	(814.053)	(207.315)	(1.290.561)
Minority interest (b)	0	271.583	0	0	Financing Activities
Total Equity (c)=(a)+(b)	53.877.429	53.146.631	50.080.990	48.467.271	Proceeds from Borrowings	17.880.909	16.324.543	12.800.000
Long Term Borrowings	12.720.016	5.513.034	11.039.430	4.625.000	Repayment of Borrowings	(20.793.640)	(15.916.632)	(13.834.978)
Provisions/Other Long Term Liabilities	2.179.935	2.317.092	1.660.636	1.755.733	Repayment of Finance Lease Liabilities	(652.288)	(984.241)	(269.273)
Short Term Borrowings	7.523.136	17.642.850	2.506.440	9.955.848	Dividends paid	(1.066.483)	(1.603.811)	(1.066.483)
Other Short Term Liabilities	17.058.202	17.198.834	12.901.681	12.502.740	Total cash/(used in) generated from financing activities(c)	(4.631.502)	(2.180.142)	(2.370.733)
Total Liabilities (d)	39.481.288	42.671.809	28.108.187	28.839.320	Net increase/(decrease) in
TOTAL EQUITY AND LIABILITIES (c)+(d)	93.358.717	95.818.440	78.189.177	77.306.591	Cash and Cash equivalents (a)+(b)+(c)	4.452.300	(294.914)	4.243.283
	1.2. INCOME STATEMENT				Cash and Cash Equivalents at the beginning of the period	2.335.676	2.630.590	1.280.884
	(consolidated and company's) Amounts in euro				Cash and Cash Equivalents at the end of the period	6.787.976	2.335.676	5.524.167
	GROUP		COMPANY
	1/1-31/12/2020	1/1-31/12/2019	1/1-31/12/2020	1/1-31/12/2019		1.4 STATEMENT OF CHANGES IN EQUITY
Turnover	124.052.137	131.219.811	77.980.144	86.677.971		(Consolidated and company's) Amounts in euro
Gross Profit	20.496.670	20.324.213	12.476.165	13.272.959			GROUP		COMPANY
Profit/(loss) before taxes,financing & investing results	5.587.512	6.020.590	4.145.503	4.885.211		31/12/2020	31/12/2019	31/12/2020
Profit before taxes	4.743.653	4.712.015	3.609.084	4.314.222	Equity at the beginning of the period (1/1/2020
Profit/(loss) after Taxes (Α)	3.593.085	3.400.194	2.728.572	3.247.984	and 1/1/2019 respectively)	53.146.631	51.786.156	48.467.271
Attributable to: Owners of the parent company	3.508.710	3.352.694	2.728.572	3.247.984	Effect of IFRS 16	0	(4.505)	0
Minority interest	84.375	47.500	0	0	Equity at the beginning of the period 1/1/2020
Other comprehensive Income after tax (B)	(907.809)	(431.403)	(45.645)	(27.048)	(reformed) and 1/1/2019	53.146.631	51.781.651	48.467.271
Total comprehensive Income after tax (A)+(B)	2.685.276	2.968.791	2.682.927	3.220.936	Profit after tax	3.593.085	3.400.194	2.728.572
Attributable to: Owners of the parent company	2.600.901	2.992.003	2.682.927	3.220.936	Other comprehensive Income	(907.809)	(431.403)	(45.645)
Minority interest	84.375	(23.212)	0	0	Dividents paid	(1.069.207)	(1.603.811)	(1.069.207)
Earnings after taxes per share (€)	0,1313	0,1254	0,1021	0,1215	Net change in subsidiaries' participation	(885.270)	0	0
Profit before taxes, financing & investing results and					Equity at the end of the period (31.12.2020
depreciation (EBITDA)	7.230.937	7.653.693	5.050.624	5.753.930	and 31.12.2019 respectively)	53.877.429	53.146.631	50.080.990
					1.5 ADDITIONAL DATA AND INFORMATION

2. The unaudited tax years for the Group subsidiaries are the following: ELTON CORPORATION SA (2010-2020), ELTON CORPORATION EOOD (2010-2020), ELTON CORPORATION DOO (2010-2020), ELTON CORPORATION LLC (2012-2020). For the year 2020 the company has benefited from the tax audit of Certified Auditors Accountants provided by the provisions of Article 65 A N.4174/2013. This audit is in progress and the related tax certificate will be granted after the publication of the interim financial statements of year 2021 3. There are encumbrances on the property of the subsidiary in Bulgaria for securing loan obligations at the amount of 1.989.753 euro

4. There is not any litigation or arbitration or administrative court that may have a material effect on the financial position of the Company and its subsidiaries.

5. Number of employees at the end of the current period : Group 259 Company 121. (31/12/2019: Group 258 ,Company 122).

6. On the above 31/12/2020 financial statements complied same basic accounting principles as at the Balance Sheet 31/12/2019.

7. The Group and the Company have made provisions for bad debts up to 31/12/2020 amounting to 9.236.306 and 5.911.334 euros respectively and provisions for discredited inventories at the amount of 389.599 euros for the Group and 245.496 euros for the Company. Until 31st December 2020 the provision for staff compensation in the Group and the Company was 712.014 €

8. Cumulative amounts of sales and purchases , since the begining of the year and the balances of receivables and payables of the Group and the Company at the end of the year, resulting from its transactions with associated parties, according to the IFRS 24, as follows :

1/1-31/12/2019 4.314.222 937.820 (69.102) 333.602 (8.866) 14.469 570.989 1.392.814 (3.658.480) 413.523 (571.966) (1.797.969) 1.871.058 (300.000) (143.021) 0 977 0 (442.044) 7.000.000 (7.003.206) (248.833) (1.603.811) (1.855.851) (426.837) 1.707.721 1.280.884

		GROUP	COMPANY
	31/12/2020	31/12/2019	31/12/2020	31/12/2019
Exchange Differences	-862.164	-404.355	0	0
Effect of tax rate change on deffered tax	0	-1.129	0	-1.129
Deffered taxes	14.414	8.184	14.414	8.184
Actuarially profit/loss	-60.060	-34.104	-60.060	-34.104
TOTAL	-907.809	-431.403	-45.645	-27.048
Avlonas Attica, 23th April 2021
PRESIDENT & CEO	B.O.D. MEMBER			COMPANY'S FINANCIAL MANAGER	GROUP C.F.O.
NESTOR D. PAPATHANASIOU	ALK.Ν.PAPATHANASIOU			ST.D.VASILIOU	ANTONIS YASSARIS
ID card num. ΑΒ 606775	ID card num. ΑΕ 105490			ID card num.Τ 132250	ID card num. ΑΝ 061294
					Offices Service S.A. 2109247017

31/12/2019 46.854.651 (4.505) 46.850.146 3.247.984 (27.048) (1.603.811) 0

48.467.271

(pubished according to the decision 4/507/28.4.2009 of the Board of Hellenic Capital Market Commission for companies that issue annual financial statements consolidated and non, according to IAS) The following data and information derived from the financial statements aim to provide general information about the financial position and results of ELTON INTERNATIONAL TRADING COMPANY SA. We advise the reader, before making any investment decision or other transaction with the company, to visit the web site where the financial statements and the report of the auditor where required.