K. Kythreotis Holdings Public LTD

Interim / Quarterly Report • Sep 27, 2018

K. KYTHREOTIS HOLDINGS PUBLIC LTD

UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED 30 JUNE 2018

	Half year ended 30 June
	2018	2017
	€	€
Income	5.041.324	4.209.543
Cost of sales	(4.128.545)	(3.607.014)
Gross profit	912.779	602.529
Selling and marketing expenses	(50.013)	(11.902)
Administrative expenses	(501.212)	(494.766)
Other income	19.605	21.034
Other losses – net	(7.146)	(7.413)
Operating profit	374.013	109.482
Finance cost	(12.562)	(22.127)
Profit before taxation	361.451	87.355
Tax charge	(41.385)	(2.244)
Profit for the period	320.066	85.111
Earnings per share attributable to the Company shareholders during the period
- Basic and fully diluted (cents)	0.75	0.20

K. KYTHREOTIS HOLDINGS PUBLIC LTD

UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED BALANCE SHEET AS AT 30 JUNE 2018

30.06.2018 31.12.2017 € € ASSETS Non-current assets Property, plant and equipment 4.375.296 4.084.556 Property investment 2.527.000 2.527.000 Goodwill 1.382.206 1.382.206 Financial assets available for sale - 10.482 Financial assets at fair value through profit and loss 20.106 - 8.304.608 8.004.244 Current assets Stocks 1.577.741 1.533.384 Trade receivables 2.508.315 2.270.838 Other receivables 469.366 418.190 Other assets 248.330 153.383 Conventional assets 45.935 - Financial assets at fair value through profit and loss - 9.949 Cash at bank and in hand 696.953 653.751 5.546.640 5.039.495 Total Assets 13.851.248 13.043.739 EQUITY AND LIABILITIES Share capital and reserves Share capital 7.216.500 7.216.500 Share premium reserve 2.019.176 2.019.176 Revaluation reserve 617.727 613.314 Reserve from conversion of share capital into euro 36.513 36.513 Other reserves 39.761 39.761 Earning retained 1.184.848 1.289.282 Total equity 11.114.525 11.214.546 Non-current liabilities Deferred taxation 103.709 67.047 103.709 67.047 Current liabilities Trade and other creditors 1.851.742 1.240.808 Current tax liabilities 931 621 Bank overdrafts 780.341 520.717 2.633.014 1.762.146 Total liabilities 2.736.723 1.829.193 Total equity and liabilities 13.851.248 13.043.739

K. KYTHREOTIS HOLDINGS PUBLIC LTD UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE HALF-YEAR ENDED 30 JUNE 2018

Balance as at 1 January 2017 – as previously stated	7.216.500	2,019.176	810.750	39.761	36.513	-	808.369	10.931.069
Adjustments to amounts of previous years	-	-	(207.774)	-	-	-	202.774	-
Balance as at 1 January 2017 – as adjusted	7.216.500	2,019.176	602.976	39.761	36.513	-	1.016.143	10.931.069
Total income Profit for the period	-	-	-	-	-	-	85.111	85.111
Other total income
Financial assets available for sale: Fair value losses	-	-	-	-	-	(8.736)	-	(8.736)
Total other comprehensive income	-	-	-	-	-	(8.736)	-	(8.736)
Total income for the period	-	-	-	-	-	(8.736)	85.111	76.375
Balance as at 30 June 2017	7.215.600	2,019.176	602.976	39.761	36.513	(8.736)	1.101.254	11.007.444
Balance as at 1 January 2018 Total income	7.216.500	2,019.176	613.314	39.761	36.513	-	1.289.282	11.214.546
Profit for the period	-	-	-	-	-	-	320.066	320.066
Other total income
Land and buildings:
Profit from revaluation	-	-	4.413	-	-	-	-	4.413
Total other comprehensive income	-	-	4.413	-	-	-	-	4.413
Total income for the period	-	-	4.413	-	-	-	320.066	324.479
Transactions with owners Dividend payable	-	-	-	-	-	-	(424.500)	(424.500)
Total transactions with owners	-	-	-	-	-	-	(424.500)	(424.500)
Balance as at 30 June 2018	7.216.500	2.019.176	617.727	39.761	36.513	-	1.184.848	11.114.525

K. KYTHREOTIS HOLDINGS PUBLIC LTD UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 30 JUNE 2018

	Half year ended 30 June
	2018	2017
	€	€
Cash flow from operations
Profit before taxation	361.451	87.355
Adjustments for items not affecting cash movement	263.338	341.850
	624.789	429.205
Changes in working capital	(287.469)	(643.499)
Cash from / (for) operations	337.320	(214.294)
Tax paid	-	(1.243)
Net cash from / (for) operations	337.320	(215.537)
Cash flow used for investing activities	(541.180)	(5.885)
Cash flow used for financing activities	(12.562)	(22.127)
Net decrease in cash and cash equivalents and bank overdrafts Cash and cash equivalents and bank overdrafts at beginning of	(216.422)	(243.549)
period	133.034	(53.390)
Cash and cash equivalents and bank overdrafts at end of period	(83.388)	(296.939)