Leptos Calypso Hotels Public LTD

Quarterly Report • Sep 6, 2016

Condensed unaudited interim consolidated financial statements for the six months ended 30 June 2016

Contents

Condensed unaudited interim consolidated financial statements 1 - 4

Condensed interim consolidated income statement for the six months ended 30 June 2016

	Six months ended
	30 June 2016	30 June 2015
	€	€
Revenue Cost of sales	8.937.335 (8.637.452)	9.168.081 (8.689.490)
Gross profit Other income Selling and marketing costs Administrative expenses	____ 299.883 464.295 (282.900) (1.481.856)	____ 478.591 668.519 (285.716) (1.364.890)
Operating loss Finance costs - net Profit from disposal of associate and settlement of loans	____ (1.000.578) (1.751.841) 8.725.456	____ (503.497) (2.630.779) -
Profit/(loss) before income tax Income tax	____ 5.973.037 (70.000)	____ (3.134.275) (35.000)
Profit/(loss) for the six months period	____ 5.903.037	____ (3.169.275)
Attributable to:	==========	==========
Equity holders of the Company Non-controlling interest	6.065.052 (162.015) ____	(3.017.076) (152.199) ____
	5.903.037	(3.169.275)
Profit/(loss) per share attributable to equity holders of the Company during the year (cents per share)	==========	==========
- Basic	4,70 ==========	(2,34) ==========

Condensed interim consolidated balance sheet as at 30 June 2016

	30 June 2016 €	31 December 2015 €
Assets
Non-current assets
Property, plant and equipment	122.560.623	122.691.973
Investment property	14.997.409	14.997.409
Available-for-sale financial assets	17.151.647	16.700.646
Deferred income tax assets	27.663	27.663
Operating lease prepayments	2.883.804 _____	3.338.871 _____
	157.621.146	157.756.562
Current assets	_____	_____
Inventories	880.357	655.106
Trade and other receivables	2.469.489	1.559.907
Cash and cash equivalents Non-current assets held for sale	2.832.002 -	4.666.834 27.645.968
	_____ 6.181.848	_____ 34.527.815
Total assets	_____ 163.802.994	_____ 192.284.377
Equity and liabilities Capital and reserves attributable to equity holders of the Company Share capital	43.856.392	43.856.392
Share premium	2.870.968	2.870.968
Other reserves	52.356.808	69.260.259
Accumulated losses	(31.055.240) _____	(54.023.743) _____
		65.786.774
Non-controlling interest	2.099.053 _____	2.261.068 _____
Total equity	70.127.981 _____	64.224.944 _____
Non-current liabilities
Borrowings	56.465.846	23.820.179
Deferred income tax liabilities Trade and other payables	16.752.369 1.009.729	16.682.369 1.009.729
	_____ 74.227.944	_____ 41.512.277
Current liabilities	_____	_____
Trade and other payables	11.026.075	9.882.673
Borrowings	8.420.994	71.710.641
Liabilities associated with non-current assets held for sale	- _____	4.953.842 _____
	19.447.069 _____	86.547.156 _____
Total liabilities	93.675.013	128.059.433
Total equity and liabilities	_____ 163.802.994	_____ 192.284.377
	===========	===========

Condensed interim consolidated statement of changes in equity for the six months ended 30 June 2016

	Attributable to equity holders of the Company
	Share capital €	Share premium €	Other reserves €	Accumulated losses €	Non controlling interest €	Total €
Balance at 1 January 2015	43.856.392	2.870.968	69.792.712	(52.026.704)	2.574.087	67.067.455
Comprehensive loss Loss for the six months	_____ -	____ -	_____ -	_____ (3.017.076)	_____ (152.199)	_____ (3.169.275)
Other comprehensive income/(loss) Land and buildings Depreciation transfer net of tax	_____ -	____ -	_____ (161.942)	_____ 161.942	_____ -	_____ -
Total other comprehensive income/(loss)	_____	____	_____	_____	_____	_____
	-	-	(161.942)	161.942	-	-
Total comprehensive income/(loss) for the six month period	_____	____	_____	_____	_____	_____
	-	-	(161.942)	(2.855.135)	(152.199)	(3.169.275)
Balance at 30 June 2015	_____	____	_____	_____	_____	_____
	43.856.392	2.870.968	69.630.770	(54.881.839)	2.421.888	63.898.180
	===========	==========	===========	===========	===========	===========
Balance at 1 January 2016	43.856.392	2.870.968	69.260.259	(54.023.743)	2.261.068	64.224.944
Comprehensive income/(loss)	_____	____	_____	_____	____	_____
Profit/(loss) for the six months	-	-	-	6.065.052	(162.015)	5.903.037
Other comprehensive income/(loss) Land and buildings Depreciation transfer net of tax Transfer to accumulated losses due to loss of control of subsidiary	_____ - -	____ - -	_____ (161.942) (16.741.509)	_____ 161.942 16.741.509	_____ - -	_____ - -
Total other comprehensive income/(loss)	_____	____	_____	_____	_____	_____
	-	-	(16.903.451)	16.903.451	-	-
Total comprehensive income/(loss) for the six month period	_____	____	_____	_____	_____	_____
	-	-	(16.903.451)	22.968.503	(162.015)	5.903.037
Balance at 30 June 2016	_____	____	_____	_____	_____	_____
	43.856.392	2.870.968	52.356.808	(31.055.240)	2.099.053	70.127.981
	===========	==========	===========	===========	===========	===========

Condensed interim consolidated cash flow statement for the six months ended 30 June 2016

	Six months ended
	30 June 2016	30 June 2015
	€	€
Cash flows from operating activities
Profit/(loss) before income tax	5.973.037	(3.134.275)
Adjustments for:
Depreciation of property, plant and equipment	1.071.834	1.164.639
Amortisation of operating lease prepayments	455.634	455.634
Notional interest on receivable from joint venture	(451.000)	(633.097)
Profit from disposal of associate	(7.307.874)	-
Gain on settlement of loans	(1.417.582)	-
Interest expense	1.751.841	2.244.392
Foreign exchange loss on financing activities	-	386.387
	___ 75.890	___ 483.680
Changes in working capital:
Inventories	(225.250)	(169.757)
Trade and other receivables	(909.582)	(1.453.773)
Trade and other payables	1.630.921	463.544
Net cash from/(used in) operating activities	___ 571.978	___ (676.306)
	___	___
Cash flows from investing activities
Purchases of property, plant and equipment	(940.484)	(157.574)
Net cash used in investing activities	___ (940.484)	___ (157.574)
	___	___
Cash flows from financing activities
Repayment of bank borrowings	-	(2.288.847)
Interest paid	(92.204)	(115.686)
Net cash used in financing activities	___ (92.204)	___ (2.404.533)
	___	___
Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of year	(460.711) (681.623)	(3.238.413) (1.219.071)
	___	___
Cash and cash equivalents at end of year	(1.142.334)	(4.457.484)
	==========	==========