Mallouppas & Papacostas Public CO LTD

Quarterly Report • Sep 29, 2020

	Half-year ended	Year ended
	30 June	30 June	31 Dec 2019
	2020	2019	€
	€	€
Turnover	13.375.230	19.411.200	44.502.105
Cost of sales	(8.058.223)	(11.368.040)	(26.364.686)
Gross profit	5.317.007	8.043.160	18.137.419
Other income	187.550	235.864	536.322
Other (losses) / profits – net	(106.976)	12.920	529.915
Write-off of lease liabilities	359.673	-	-
Administrative costs	(1.188.275)	(1.467.020)	(2.834.036)
Sale and marketing expenses	(4.840.955)	(6.784.619)	(14.077.305)
(Loss)/profit from operations	(271.976)	40.305	2.292.315
Finance costs	(335.868)	(391.428)	(760.938)
(Loss)/profit before taxation	(607.844)	(351.123)	1.531.377
Tax charge	(2.263)	(2.650)	(352.417)
(Loss)/profit for the period	(610.107)	(353.773)	1.178.960
Attributable to:
Company shareholders	(609.002)	(352.639)	1.181.109
Minority interest	(1.105)	(1.134)	(2.149)
	(610.107)	(353.773)	1.178.960
(Loss)/earnings per share attributable to the
Company's shareholders (cents per share)
Basic and fully diluted	(1.41)	(0.82)	2.73

Unaudited Condensed Interim Consolidated Statement of Profit and Loss Account for the half-year ended 30 June 2020

Unaudited Condensed Interim Consolidated Statement of Total Income

Total loss for the period	(617.632)	(353.218)
Exchange rate differences	108	555
Defence Contribution on profits	(7.633)	-
Other total income:
Loss for the period	(610.107)	(353.773)
	€
	2020	2019
	30 June	30 June
		Half-year ended

Unaudited Condensed Interim Statement of Financial Position

	30 June	31 December
	2020	2019
	€	€
Assets
Non-current assets
Property, plant and equipment	11.192.981	11.707.210
Assets with right of use	8.346.059	9.738.886
Intangible assets	551.083	34.088
Investment property	16.409.645	16.393.930
Financial assets at fair value through profit and loss	120.503	133.599
	36.620.271	38.007.713
Current assets
Inventories – finished goods	6.147.028	5.661.793
Inventories – immovable property for trading and development	4.975.673	4.907.927
Prepayments	1.301.339	1.232.664
Trade receivables	379.481	259.100
Financial assets at amortised cost	176.887	120.219
Tax receivable	14.593	14.703
Cash and bank deposits	1.033.387	1.858.153
	14.028.388	14.054.559
Total assets	50.648.659	52.062.272
Equity and Liabilities
Capital and reserves
Share capital	14.691.694	14.691.694
Reserves	7.182.696	7.799.223
Equity attributable to the Group's shareholders	21.874.390	22.490.917
Minority interest	337.382	338.487
Total equity	22.211.772	22.829.404
Liabilities
Non-current liabilities
Borrowings	6.846.159	6.702.427
Lease liabilities	6.011.936	7.099.393
Deferred tax liabilities	1.486.830	1.488.830
	14.346.925	15.290.650
Current liabilities
Bank overdrafts	5.099.889	2.985.733
Borrowings	470.502	960.926
Contractual liabilities	60.729	72.720
Trade and other creditors	6.220.599	7.274.245
Lease liabilities	2.328.243	2.648.594
	14.089.962	13.942.218
Total liabilities	28.436.887	29.232.868
Total equity and liabilities	50.648.659	52.062.272

Unaudited Condensed Interim Consolidated Statement of Cash Flows

	Half-year ended
	30 June	30 June
	2020 €	2019 €
Cash flow from operating activities
Loss before taxation	(607.844)	(351.123)
Adjustments for:
Depreciation of property, plant and equipment	691.638	728.835
Depreciation of assets with right of use	1.356.613	1.356.006
Depreciation of intangible assets	5.460	6.995
Exchange rate differences	108	555
Debit interest	335.868	391.429
(Loss) / Profit from the disposal /write-offs of property, plant and
equipment	91.560	(23.469)
Profit from write-off of lease liabilities	(359.673)	-
Fair value loss from financial assets at fair value through profit and loss	13.096	9.987
Cash flow from operating activities prior to changes in working capital	1.526.826	2.119.215
Changes in working capital
Inventories – finished goods	(485.235)	(2.699.317)
Inventories – Property for trading and development	(67.746)	-
Trade and other receivables	(245.724)	211.546
Trade and other creditors	(1.053.646)	408.533
Contractual liabilities	(11.991)	40.967
Cash flow for operating activities	(337.516)	80.944
Tax paid	(9.786)	(2.726)
Net cash flow for operating activities	(347.302)	78.218
Cash flow from investing activities
Purchase of property, plant and equipment	(309.827)	(480.638)
Additions of rights of use of assets	(238.017)	-
Purchase of intangible assets	(522.500)	(1.186)
Purchase of investment property	(15.715)	-
Proceeds from the sale of assets	37.394	99.015
Net cash flow for investing activities	(1.048.665)	(382.809)
Cash flow from financing activities
Repayments of bank loan	(346.692)	(844.238)
Repayments of lease liability	(770.395)	(1.455.576)
Interest paid	(335.868)	(391.429)
Net cash for financing activities	(1.452.955)	(2.691.243)
Net decrease in cash and cash equivalents and bank overdrafts	(2.848.922)	(2.995.834)
Cash and cash equivalents and bank overdrafts at beginning of year	(1.127.580)	(2.400.363)
Cash and cash equivalents and bank overdrafts at end of year	(3.976.502)	(5.396.197)
Cash and cash equivalents comprise:
Cash and cash equivalents Bank overdrafts	1.033.387 (5.009.889)	218.249 (5.614.446)
	(3.976.502)	(5.396.197)

Unaudited Condensed Interim Consolidated Statement of Changes in Equity

	ha S re ita l ca p	f fer Di en ce fro m ion f co nv ers o ita l in to ca p	ha S re mi pre um res erv e	lua Re tio va n f lan d a d o n bu i ldi ng s	ha Ex ate c ng e r di f fer en ce dju stm ts rea en	Ea ing rn s ain d ret e	l To ta	Mi rit no y int st ere	l To ta
	€	eu ro €	€	€	€	€	€	€	€
lan Ba 1 Ja 20 19 ce as nu ary	14 .69 1.6 94	74 .33 5	5.4 73 .30 1	2.1 63 .63 8	8.3 39	( ) 1.1 08 .09 7	21 .30 3.2 10	34 0.6 36	21 .64 3.8 46
l p fit fo he To ta r t ro ye ar						1.1 81 .10 9	1.1 81 .10 9	( ) 2.1 49	1.1 78 .96 0
he l in Ot r t ota co me nd d bu i ldi La an ng s:
lua f lan d – Re tio ta va n o x ha di f fer fo Exc ate				5.3 10			5.3 10		5.3 10
ng e r en ce s r he t ye ar					1.2 88		1.2 88		1.2 88
l in fo he To 20 19 ta r t co me ye ar				5.3 10	1.2 88	1.1 81 .10 9	1.1 87 .70 7	( ) 2.1 49	1.1 85 .55 8
lan 31 be Ba at D ce as ec em r / 20 19 1 J 20 20 an ua ry	14 .69 1.6 94	74 .33 5	5.4 73 .30 1	2.1 68 .94 8	9.6 27	73 .01 2	22 .49 0.9 17	33 8.4 87	22 .82 9.4 04
l los fo he To ta r t se s ye ar						( ) 60 9.0 02	( ) 60 9.0 02	( ) 1.1 05	( ) 61 0.1 07
he l in Ot r t ota co me fen i bu tio fit De ntr ce co n o n p ro s ha di f fer fo Exc ate ng e r en ce s r						( ) 7.6 33	( ) 7.6 33		( ) 7.6 33
he rio d t pe					10 8		10 8		10 8
/ ( ) l p fit los fo he To ta r t ro s ses d rio pe					10 8	( ) 61 6.6 35	( ) 61 6.5 27	( ) 1.1 05	( ) 61 7.6 32
lan Ba 30 Ju 20 20 at ce as ne	14 .69 1.6 94	74 .33 5	5.4 73 .30 1	2.1 68 .94 8	9.7 35	( ) 54 3.6 23	21 .87 4.3 90	33 7.3 82	22 .21 1.7 72