Mallouppas & Papacostas Public CO LTD

Quarterly Report • Sep 28, 2021

Unaudited Condensed Interim Consolidated Statement of Profit and Loss Account

	Half-year ended
	30 June	30 June
	2021	2020
	€	€
Turnover	18.407.787	13.375.230
Cost of sales	(10.858.755)	(8.058.223)
Gross profit	7.549.032	5.317.007
Other income	598.837	187.550
Other (losses) / profits – net	12.019	(106.976)
Write-off of lease liabilities	248.294	359.673
Administrative costs	(1.280.324)	(1.188.275)
Sale and marketing expenses	(5.021.237)	(4.840.955)
(Loss)/profit from operations	2.106.621	(271.976)
Finance costs	(331.776)	(335.868)
(Loss)/profit before taxation	1.774.845	(607.844)
Tax charge	(194.836)	(2.263)
(Loss)/profit for the period	1.580.009	(610.107)
Attributable to:
Group shareholders	1.581.166	(609.002)
Minority interest	(1.157)	(1.105)
	1.580.009	(610.107)
(Loss)/earnings per share attributable to the Group's shareholders
(cents per share)
Basic and fully diluted	3.66	(1.41)

Unaudited Condensed Interim Consolidated Statement of Total Income

Total loss for the period	1.580.423	(617.632)
Exchange rate differences	414	108
Other total income: Defence Contribution on profits	-	(7.633)
Profit / (Loss) for the period	1.580.009	(610.107)
	€
	2021	2020
	30 June	30 June
	Half-year ended

Unaudited Condensed Interim Statement of Financial Position

	30 June	31 December
	2021	2020
	€	€
Assets
Non-current assets
Property, plant and equipment	12.823.528	12.543.275
Assets with right of use	9.722.112	10.932.301
Intangible assets	64.971	69.900
Investment property	16.645.848	16.106.549
Financial assets at fair value through profit and loss	147.499	139.615
	39.403.958	39.791.640
Current assets
Inventories – finished goods	7.281.055	5.562.475
Inventories – immovable property for trading and development	5.404.859	5.164.859
Other non-financial assets	1.548.959	1.466.783
Trade receivables	552.653	291.303
Financial assets at amortised cost	496.295	507.096
Cash and bank deposits	1.752.489	2.635.316
	17.036.310	15.627.832
Total assets	56.440.268	55.419.472
Equity and Liabilities
Capital and reserves
Share capital	14.691.694	14.691.694
Reserves	9.900.701	8.319.121
Equity attributable to the Group's shareholders	24.592.395	23.010.815
Minority interest	334.993	336.150
Total equity	24.927.388	23.346.965
Liabilities
Non-current liabilities
Borrowings	10.362.804	10.061.788
Lease liabilities	7.359.284	8.377.555
Deferred tax liabilities	1.392.198	1.392.198
	19.114.286	19.831.541
Current liabilities
Bank overdrafts	1.634.215	2.157.492
Borrowings	1.284.215	989.768
Contractual liabilities	87.845	81.229
Current tax liabilities	240.943	79.099
Trade and other creditors	6.857.033	6.624.512
Lease liabilities	2.294.302	2.308.866
	12.398.594	12.240.966
Total liabilities	31.512.880	32.072.507
Total equity and liabilities	56.440.268	55.419.472

Unaudited Condensed Interim Consolidated Statement of Cash Flows

	Half-year ended
	30 June	30 June
	2021 €	2020 €
Cash flow from operating activities
Profit / (Loss) before taxation	1.774.845	(607.844)
Adjustments for:
Depreciation of property, plant and equipment	628.877	691.638
Depreciation of assets with right of use	1.310.239	1.356.613
Depreciation of intangible assets	6.466	5.460
Exchange rate differences	(3.039)	108
Debit interest	331.776	335.868
(Loss) / Profit from the disposal /write-offs of property, plant and
equipment	(682)	91.560
Profit from write-off of lease liabilities	(248.294)	(359.673)
Fair value profit /(loss) from financial assets at fair value through profit and	(7.884)	13.096
loss
Cash flow from operating activities prior to changes in working capital	3.792.304	1.526.826
Changes in working capital
Inventories – finished goods	(1.718.580)	(485.235)
Inventories – Property for trading and development	(240.000)	(67.746)
Trade and other receivables	(332.725)	(245.724)
Trade and other creditors	235.974	(1.053.646)
Contractual liabilities	6.616	(11.991)
Cash flow for operating activities	1.743.589	(337.516)
Tax paid	(32.992)	(9.786)
Net cash flow for operating activities	1.710.597	(347.302)
Cash flow from investing activities
Purchase of property, plant and equipment	(926.263)	(309.827)
Additions of rights of use of assets	-	(238.017)
Purchase of intangible assets	(1.537)	(522.500)
Purchase of investment property	(539.299)	(15.715)
Proceeds from the sale of assets	17.815	37.394
Net cash flow for investing activities	(1.449.284)	(1.048.665)
Cash flow from financing activities
Proceeds from bank loan	1.027.646	-
Repayments of bank loan	(432.142)	(346.692)
Repayments of lease liability	(884.591)	(770.395)
Interest paid	(331.776)	(335.868)
Net cash for financing activities	(620.863)	(1.452.955)
Net decrease in cash and cash equivalents and bank overdrafts	(359.550)	(2.848.922)
Cash and cash equivalents and bank overdrafts at beginning of year	477.824	(1.127.580)
Cash and cash equivalents and bank overdrafts at end of year	118.274	(3.976.502)
Cash and cash equivalents comprise:
Cash and cash equivalents	1.752.489	1.033.387

Bank overdrafts	(1.634.215)	(5.009 .889 )
	118.274	( 3 .976 .502 )

Unaudited Condensed Interim Consolidated Statement of Changes in Equity

	Share capital	Difference from conversion of capital into	Share premium reserve	Revaluation of land and buildings	Exchange rate difference readjustments	Earnings retained	Total	Minority interest	Total
	€	euro €	€	€	€	€	€	€	€
Balance as 1 January 2020	14.691.694	74.335	5.473.301	2.168.948	9.627	73.012	22.490.917	338.487	22.829.404
Total profit for the year	-	-	-	-	-	751.125	751.125	(2.337)	748.788
Other total income Land and buildings:
Revaluation of land – tax Exchange rate differences for				(224.004)			(224.004)		(224.004)
the year					409		409		409
Total other income				(224.004)	409	-	(223.595)	-	(223.595)
Defence contribution on profits	-	-	-	-	-	(7.632)	(7.632)	-	(7.632)
Total income for the year 2019				(224.004)	409	743.493	519.898	(2.337)	517.561
Balance as at 31 December 2020 / 1 January 2021	14.691.694	74.335	5.473.301	1.944.944	10.036	816.505	23.010.815	336.150	23.346.965
Total profits for the year						1.581.166	1.581.166	(1.157)	1.580.009
Other total income Exchange rate differences for
the period					414		414	-	414
Total profits for the period
				-	414	1.581.166	1.581.580	(1.157)	1.580.423
Balance as at 30 June 2021	14.691.694	74.335	5.473.301	1.944.944	10.450	2.397.671	24.592.395	334.993	24.927.388