Keo PLC — Annual Report 2013

Apr 30, 2014

EXTRACT FROM ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2013

Contents

Statement of Profit Or Loss and Other Comprehensive Income	$1 - 2$
Statement of Financial Position

Page

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2013

2013 2012 €000 €000 €000 €000 47.532 43.426 45.415 44.350 Turnover (29.218) (32.026) (29.577) (33.565) Cost of sales 14.208 13.389 14.773 13.967 Gross profit 226 340 203 371 Other operating income (10.646) (14.472) (10.633) (14.466) Selling and distribution expenses (2.725) (2.881) (2.653) Administration expenses (2.480) (134) (144) (125) (128) Other operating expenses (3.882) 1.875 (3.077) 1.074 Profit/(loss) from operations 241 365 341 164 Investment income (688) (688) (764) (764) Impairment loss on available-for-sale investments Loss on derecogntion of financial assets (3.500) (3.500) (289) (128) Impairment loss on investments in subsidiaries (1.971) (2.800) Loss on investment properties revaluation (3.950) (1.066) (1.878) (1.872) (1.787) (1.817) Finance costs, net (8.172) (8.854) (6.900) (6.435) Loss before tax 159 (281) Taxation (8) (67) (8.862) (8.013) (7.181) (6.502) Loss for the year Other comprehensive (loss)/income for the year Items that will not be reclassified subsequently to the profit or loss (10.780) (8.712) Loss on property revaluation 15 18 1.433 1.791 Deferred tax Items that may be reclassified subsequently to the profit or loss 505 468 505 468 Net gain on available-for-sale investments Exchange differences on translating foreign 70 (66) operations Other comprehensive (loss)/income for the year, 593 (6.811) 520 (8.587) net of taxation (17.449) (7.420) (5.982) (13.992) Total comprehensive loss for the year	Group		Company
			2013	2012

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2013 (Cont'd)

	Group		Company
	2013 €000	2012 €000	2013 €000	2012 €000
Loss for the year attributable to:
Owners of the Company Non - controlling interests	(8.860) (2)	(8.011) (2)	(7.181)	(6.502)
	(8.862)	(8.013)	(7.181)	(6.502)
Total comprehensive loss for the year attributable to:
Owners of the Company Non - controlling interests	(17.449)	(7.420)	(13.992)	(5.982)
	(17.449)	(7.420)	(13.992)	(5.982)
Loss per share (cent)	(28, 6)	(25,9)

STATEMENT OF FINACIAL POSITION AT 31 DECEMBER 2013

	Group		Company
	2013	2012	2013	2012
	€000	€000	€000	€000
Assets
Non - current assets
Property, plant and equipment	55.641	67.603	47.715	57.279
Investment property	29.780	37.396	14.610	17.410
Intangible assets	32	38	10	16
Available-for-sale investments	3.226	3.522	3.226	3.522 30.000
Held-to-maturity investments	20.000	30.000	20.000 6.500
Fair value through profit or loss investments Investments in subsidiaries	6.500		4.648	4.937
			1.313	1.234
Amounts due from related parties	115.179	138.559	98.022	114.398
Total non - current assets
Current Assets
Inventories	13.802	14.544	11.888	12.859
Trade and other receivables	13.462	16.881	13.218	16.011
Amounts due from related parties			1.634	867
Taxation	39	39
Bank deposits		16.000		16.000
Cash at bank and in hand	5.877	486	5.176	84
Total current assets	33.180	47.950	31.916	45.821
Assets classified as held for sale	3.598
Total assets	151.957	186.509	129.938	160.219
EQUITY AND LIABILITIES
Equity	13.321	13.321	13.321	13.321
Share capital	74.680	92.127	55.677	69.669
Reserves	88.001	105.448	68.998	82.990
Equity attributable to owners of the Company Non - controlling interests	32	34
	88.033	105.482	68.998	82.990
Total equity
Non - current liabilities
Borrowings	17.077	18.107	17.077	18.107
Deferred tax	8.998	11.248	5.527	7.118
Total non - current liabilities	26.075	29.355	22.604	25.225
Current liabilities
Trade and other payables	5.869	7.853	5.299	7.099
Bank overdrafts	28.685	39.063	28.685	39.063
Amounts due to related parties			1.085	1.123
Borrowings	3.259	4.636	3.259	4.636
Taxation	36	120	8	83
Total current liabilities	37.849	51.672	38.336	52.004
Total liabilities and equity	151.957	186.509	129.938	160.219

The above statements are true extracts from the Annual Report and Financial Statements of KEO PLC which have been prepared in Greek and have been approved by the Board of Directors on 29 April 2014.

George Hiletis Secretary