Keo PLC — Audit Report / Information 2017

Apr 24, 2018

ANNOUNCEMENT

Subject: Final Results 2017 and date of the Annual General Meeting

The Board of Directors of KEO plc, at a meeting that took place on 24 April 2018, has:

• Approved the Audited Financial Statements of the Group for the financial year ended 31 December 2017
• Set the date for the Annual General Meeting which will take place on 12 June 2018 at 10:00 a.m., at the Company's registered Office at 1 Franklin Roosvelt Avenue, Limassol

Copies of the Audited Financial Statements for the year ended 2017 are available at the Company's registered Office, at 1 Franklin Roosvelt Avenue, Limassol and at the Company's website www.keogroup.com

24 April 2018

EXTRACT FROM ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

Contents

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

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2017

	Group			Company
	2017	2016	2017	2016
	$\epsilon$ 000	€000	€000	€000
Turnover	51.474	48.412	52.282
Cost of sales	(31.505)	(29.381)	(32.066)	49.079 (29.889)
Gross profit	19.969	19.031	20.216	19.190
Other operating income	310	563	277	523
Selling and distribution expenses	(11.906)	(11.298)	(11.852)	(11.201)
Administration expenses	(2.824)	(3.041)	(2.735)	(2.782)
Other operating expenses	(87)	(121)	(80)	(109)
Profit from operations	5.462	5.134	5.826	5.621
Investment income	1.027	747	1.081	767
Impairment loss on available-for-sale investments	(26)	(88)	(26)	(88)
Impairment loss on fair value through profit or loss
investments	(1.043)	(900)	(1.043)	(900)
Impairment loss on investments in subsidiaries			(49)	(43)
Profit / (loss) on investment properties revaluation	450	(320)	450	150
Finance costs, net	(604)	(986)	(456)	(863)
Income tax interest and charges	(43)	(49)	(43)	(49)
Profit before tax	5.223	3.538	5.740	4.595
Taxation	(273)	(122)	(272)	(216)
Net profit for the year	4.950	3.416	5.468	4.379
Other comprehensive income for the year
Items that may be reclassified subsequently to the
profit or loss

Total comprehensive income for the year	5.567	10.092	6.085	1.059
taxation	617	6.676	617	6.680
Other comprehensive income for the year, net of
Exchange differences on translating foreign operations		(4)	$\overline{\phantom{a}}$
Net gain on available-for-sale investments	617	6.680	617	6.680
pront or loss

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2017 (Cont'd)

	Group		Company
	2017	2016	2017	2016
	$\epsilon$ 000	€000	€000	€000
Net profit for the year attributable to:
Owners of the Company	4.950	3.417	5.468	4.379
Non - controlling interests		(1)	۰
	4.950	3.416	5.468	4.379
Total comprehensive income for the year attributable to:
Owners of the Company	5.567	10.093	6.085	11.059
Non - controlling interests		(1)
	5.567	10.092	6.085	11.059
Basic profit per share (cent)	13.3	10.9

STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2017

	Group		Company
	2017	2016	2017	2016
	€000	€000	€000	€000
ASSETS
Non – current assets
Property, plant and equipment	12.796	13.675	12.549	13.351
Investment property	26.270	25.820	13.600	13.150
Intangible assets	105	54	83	32
Available-for-sale investments	13.569	12.979	13.569	12.979
Held-to-maturity investments		20.000		20.000
Fair value through profit or loss investments	2.457	3.500	2.457	3.500
Investment in subsidiaries			3.908	3.957
Amounts due from related parties			1.661	1.582
Total non - current assets	55.197	76.028	47.827	68.551
Current Assets
Inventories	13.578	13.866	11.928	12.134
Trade and other receivables	12.076	12.118	11.791	11.860
Amounts due from related parties			3.246	2.667
Held-to-maturity investments	20.000		20.000
Cash at bank and in hand	1.907	1.771	1.832
Total current assets	47.561	27.755	48.797	1.708
				28.369
Total assets	102.758	103.783	96.624	96.920
EQUITY AND LIABILITIES
Equity
Share capital	16.012	16.012	16.012	16.012
Reserves	52.015	47.565	47.534	42.566
Equity attributable to owners of the Company	68.027	63.577	63.546	58.578
Non - controlling interests	29	29
Total equity	68.056	63.606	63.546	58.578
Non - current liabilities
Borrowings	2.694	4.156	2.694
Deferred tax	3.188	3.063	1.225	4.156
Total non - current liabilities	5.882	7.219	3.919	1.101
				5.257
Current liabilities
Trade and other payables	6.327	6.625	5.774	5.875
Special contribution for defence on deemed dividend
distribution	1.664	1.621	1.664	1.621
Bank overdrafts	19.590	20.836	19.590	20.836
Amounts due to related parties			892	881
Borrowings	1.232	3.865	1.232	3.865
Taxation	7	11	$\overline{7}$	7
Total current liabilities	28.820	32.958	29.159	33.085
Total liabilities	34.702	40.177	33.078	38.342
Total liabilities and equity	102.758	103.783	96.624	96.920

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 24

April 2018. ╱

George Hiletis Company Secretary