Louis PLC

Annual / Quarterly Financial Statement • Apr 27, 2018

CONSOLIDATED PROFIT AND LOSS ACCOUNT

	2017	2016
	€'000	€'000
Ongoing activities
Income	115.036	110.559
Operating expenses	(36.877)	(35.905)
Staff cost	(31.870)	(30.545)
Administrative and other expenses	(2.128)	(2.243)
	(70.875)	(68.693)
Operating profit before interest, taxes, depreciation,
amortization and hotel rents	44.161	41.866
Hotel rents	(11.407)	(10.973)
Depreciation	(8.952)	(9.131)
Amortization of leases	(688)	(688)
Other amortizations	233	334
Profit from operations	23.707	21.408
Loss from impairment in value of assets	(2.382)	(2.978)
Write-offs and provisions for bad debts	(48)	(2.292)
Loss from provisions	(2.430)	(5.270)
Finance income	590	515
Finance cost	(11.136)	(14.787)
Net finance cost	(10.546)	(14.272)
Gain from restructuring of borrowings	8.207	-
Share in loss from investments in net position companies	(4.147)	(1.526)
Profit before taxation	14.791	340
Taxation	(3.230)	(1.744)
Profit / (loss) for the year from ongoing activities	11.561	(1.404)
Non-ongoing activities
Loss from non-ongoing activities	-	(4.680)
Net investment profit	-	13.828
Profit from non-ongoing activities	-	9.148
Profit for the year	11.561	7.744
Profit for the year attributable to:
Company owners	11.537	7.711
	24
Minority interest		33
Profit for the year	11.561	7.744
Profit/(loss) per share
Basic and fully diluted earnings / (loss) per share (€ cents)
Ongoing activities	2.51	(0.31)
Non-ongoing activities	-	1.99
	2.51	1.68

CONSOLIDATED STATEMENT OF TOTAL INCOME

	2017 €'000	2016 €'000
Profit for the year	11.561	7.744
Other total income
Amounts not to be reclassified to the consolidated
statement of profit and loss account
Revaluation of immovable property	3	95
Deferred taxation from revaluation	(3)	(10)
Adjustments to staff benefit obligations	31	140
Deferred taxation from adjustments to staff benefit obligations	(9)	(41)
	22	184
Amounts which will or may be reclassified to the consolidated statement of profit and loss
Exchange difference in respect of a subsidiary in foreign currency	(11)	(69)
	(11)	(69)
Other total income for the year	11	115
Total income for the year	11.572	7.859
Total income for the year attributable to:
Company owners	11.548	7.826
Minority interest	24	33
Total income for the year	11.572	7.859

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

as at 31 December 2017

	2017	2016
	€'000	€'000
ASSETS
Property, vessels, plant and equipment	212.626	220.517
Hotel leases	19.507	20.195
Investments in net position companies	16.608	20.902
Amounts due from related parties	6.174	6.174
Non-current assets	254.915	267.788
Stocks	1.751	1.580
Trade and other receivables	7.543	9.255
Amounts due from related parties	521	567
Blocked bank deposits	2.474	10.916
Cash and cash equivalents	18.766	24.905
Current assets	31.055	47.223
Total assets	285.970	315.011
EQUITY
Share capital	9.211	78.293
Reserves	(29.408)	(110.038)
Equity attributable to Company owners	(20.197)	(31.745)
Minority interest	28	7
Total equity	(20.169)	(31.738)
LIABILITIES
	209.867
Borrowings		157.208
Liabilities of finance leases	23.098	24.450
Other liabilities	1.124	1.143
Deferred income	3.208	3.441
Deferred taxation	31.008	30.513
Non-current liabilities	268.305	216.755
Bank overdrafts	5.494	25.295
Borrowings	8.677	79.941
Liabilities of finance leases	1.375	1.319
Trade and other liabilities	12.767	13.885
Amounts due to related parties	277	735
Deferred income	5.303	4.556
Tax due	3.941	4.263
Current liabilities	37.834	129.994
Total liabilities	306.139	346.749
Total equity and liabilities	285.970	315.011

LOUIS PLC CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

	Co Eq ity i bu b le ttr ta to a mp an ow ne rs u y D i f fe fro ren ce m ion nv
	S ha re ita l ca p € '0 0 0	Pr ium em res erv e € '0 0 0	Pr ty op er lua ion t rev a res erv e € '0 0 0	S f f ta be f its ne res erv e € '0 0 0	O he t r res erv es € '0 0 0	co er s f c ita l o ap int o Eu ro € '0 0 0	Re ve nu e res erv e € '0 0 0	To l ta € '0 0 0	M ino ity r int t er es € '0 0 0	To l e ity ta q u € '0 0 0
Ba lan 1 Ja 2 0 1 t 7 ce as a nu ar y	7 8. 2 9 3	9 4. 3 0 1	1 8. 1 4 0	3 1 3	1 5 2	3 6 4	( ) 2 2 3. 3 0 8	( ) 3 1. 7 4 5	7	( ) 4 5. 0 0 4
inc fo To ta l r t he om e y ea r Pr f it fo he r t o y ea r	-	-	-	-	-	-	1 1. 3 5 7	1 1. 3 5 7	2 4	4 4 7. 7
O he l inc t r t ta o om e
De in ha ita l cre as e s re ca p	( 6 9, 8 0 2 )	( 9 4, 3 0 1 )	-	-	-	-	1 6 3. 3 8 3	-	-
Ex ha d i f fe la ing t to c ng e re nc e r e a bs i d iar in fo ig su y a re n c ur ren cy De fe d ion fro lua ion tax t t rre a m rev a A d d it ion l de ia ion fro t a p rec m	- -	- -	- ( ) 3	- -	( 1 1 ) -	- -	- -	( 1 1 ) ( ) 3	- -	( 6 9 ) ( ) 1 0
lua ion bro ht fo d t rev a ug rw ar	-	-	( ) 3 8	-	-	-	3 8	-	-	-
Re lua ion f im b le t ty va o mo va p rop er	-	-	3	-	-	-	-	3	-	9 5
A d j in f f be f it tm ts ta us en s ne b l ig ion t o a s De fe d ion fro d j tax t tm ts rre a m a us en in f f be f it o b l ig ion ta t s ne a s	- -	- -	- -	3 1 ( 9 )	- -	- -	- -	3 1 ( 9 )	- -	1 4 0 ( 4 1 )
O he l inc fo he t r t ta r t o om e y ea r	( 6 9, 0 8 2 )	( 9 3, 3 0 1 )	( 3 8 )	2 2	( 1 1 )	-	1 6 3. 4 2 1	1 1	-	1 1 5
To l inc fo he ta r t om e ea r y	( 6 9, 0 8 2 )	( 9 4, 3 0 1 )	( 3 8 )	2 2	( 1 1 )	-	1 7 4. 9 5 8	1 1. 5 4 8	2 4	7. 8 5 9

Tr io it h o d ire ly t t an sa c ns wn er s c w ize d in ity re co g n eq u			-
Co i bu ion fro d d is i bu ion ntr t tr t to s m an s ow ne rs			-
D iv i de d n	-	-	-	-	-	-	-	-	( 3 )	( 3 )
To l c i bu ion fro d ta tr t on s m an d is i bu ion tr t to s ow ne rs	-	-	-	-	-	-	-	-	( 3 )	( 3 )
To l t ion it h o ta t ra ns ac s w wn er s d ire ly ize d in ity t c re co g n eq u	-	-	-		- -	-	-	-	( 3 )	( 3 )
Ba lan 3 1 De be 2 0 1 7 t ce as a ce m r	9. 2 1 1	-	1 8. 1 4 0	3 3 5	1 4 1	3 6 4	( 4 8. 3 0 ) 5	( 2 0. 1 9 ) 7	2 8	( 2 0. 1 6 9 )

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

	Eq ity i bu b le Co ttr ta to u a mp an y ow ne rs f fe fro D i ren ce m ion
	S ha re ita l ca p € '0 0 0	Pr ium em res erv e € '0 0 0	Pr ty op er lua ion t rev a res erv e € '0 0 0	S f f ta be f its ne res erv e € '0 0 0	O he t r res erv es € '0 0 0	co nv er s f c ita l o ap int o Eu ro € '0 0 0	Re ve nu e res erv e € '0 0 0	To l ta € '0 0 0	No n l l ing ntr co o int t er es € '0 0 0	To l e ity ta q u € '0 0 0
Ba lan 1 Ja 2 0 1 6 t ce as a nu ar y	8. 2 9 3 7	9 4. 3 0 1	1 8. 1 0 9	2 1 4	2 2 1	3 6 4	( 2 3 1. 0 3 ) 7	( 3 9. 1 ) 5 7	( 4 3 3 ) 5.	( 4 0 0 4 ) 5.
To l inc fo he ta r t om e y ea r Pr f it fo he r t o y ea r	-	-	-	-	-	-	7. 7 1 1	7. 7 1 1	3 3	7. 7 4 4
O he l inc t r t ta o om e
f fe Ex ha d i la ing t to c ng e re nc e r e a bs i d iar in fo ig su a re n c ur ren cy y De fe d ion fro lua ion tax t t rre a m rev a	- -	- -	- ( 1 0 )	- -	( ) 6 9 -	- -	- -	( ) 6 9 ( 1 0 )	- -	( ) 6 9 ( 1 0 )
A d d it ion l de ia ion fro t a p rec m lua ion bro ht fo d t rev a ug rw ar	-	-	( ) 5 4	-	-	-	5 4	-	-	-
Re lua ion f im b le t ty va o mo va p rop er	-	-	9 5	-	-	-	-	9 5	-	9 5
A d j in f f be f it tm ts ta us en s ne b l ig t ion o a s	-	-	-	1 4 0	-	-	-	1 4 0	-	1 4 0
fe fro De d tax t ion d j tm ts rre a m a us en f f f in ta be it o b l ig t ion s ne a s	-	-	-	( ) 4 1	-	-	-	( ) 4 1	-	( ) 4 1
O he l inc fo he t r t ta r t o om e y ea r	-	-	3 1	9 9	( ) 6 9	-	5 4	1 1 5	-	1 1 5
To l inc fo he ta r t om e y ea r	-	-	3 1	9 9	( ) 6 9	-	7. 7 6 5	7. 8 2 6	3 3	7. 8 5 9
Tr io it h o d ire ly t t an sa c ns w wn er s c ize d in ity re co g n eq u			-

C ha in ic ip ion in bs i d iar t t ng e p ar a a s u y co mp an y			-
Pu d d isp l o f m ino ity int te t rp or os a r er es	-	-	-	-	-	-	-	-	5. 4 0 7	5. 4 0 7
To l c ha in ic ip ion in ta t t ng es p ar a a bs i d iar su y co mp an y	-	-	-	-	-	-	-	-	5. 4 0 7	5. 4 0 7
To l t ion it h o ta t ra ns ac s w wn er s d ire ly ize d in ity t c re co g n eq u	-	-	-	-	-	-	-	-	5. 4 0 7	5. 4 0 7
Ba lan 3 1 De be 2 0 1 6 t ce as a ce m r	7 8. 2 9 3	9 4. 3 0 1	1 8. 1 4 0	3 1 3	1 5 2	3 6 4	( 2 2 3. 3 0 8 )	( 3 1. 7 4 5 )	7	( 3 1. 7 3 8 )