Petrolina (Holdings) Public LTD

Earnings Release • Apr 30, 2014

Consolidated balance sheet

December 31, 2013

	2013	2012 €
	€
Assets
Property, plant and equipment	96.922.092	104.077.067
Investment property	670.000	799.000
Goodwill	8.310.714	7.269.917
Investments presented with the method of
equity	3.201.156	3.987.789
Investments available for sale	86.066	687.647
Non current asset	109.190.028	116.821.420
Stock	14.648.192	18.864.690
Trade and other debtors	49.632.843	53.453.597
Tax refundable	18.938	81.505
Cash and equivalent to cash	12.688.371	7.746.887
Current asset	76.988.344	80.146.679
Total assets	186.178.372	196.968.099
Equity
Share capital	29.750.000	29.750.000
Difference from conversion of share capital in euros	150.525	150.525
Share premium	9.611.704	9.611.704
Revaluation reserve	25.685.298	34.301.602
Income reserve	41.190.237 40.499.326
Total equity	106.387.764	114.313.157
Liabilities
Long term loans	4.080.864	5.452.209
Guarantees of cylinders and gas stations	2.149.698	2.171.938
Deferred taxation	6.133.213	8.184.286
Non current liabilities	12.363.775	15.808.433
Bank overdrafts	37.888.127	37.826.327
Current installments of long term loans	2.040.000	720.000
Short term loans	20.184.242	21.080.111
Trade and other creditors	7.314.464	7.220.071
Current liabilities	67.426.833	66.846.509
Total liabilities	79.790.608	82.654.942
Total equity and liabilities	186.178.372	196.968.099

Consolidated income statement

For the year ended December 31, 2013
--------------------------------------	--

€

2013 €

Sales via gas stations to trade customers Sales to other fuel companies	371.292.692 74.095.158	397.714.414 68.178.823
Turnover	445.387.850	465.893.237
Cost of sales Gross profit	(407.805.382) 37.582.468	(430.068.705) 35.824.532
Other operating income Other operating expenses Selling and distribution expenses Administrative expenses Provisions for bad debts	1.598.813 (356.145) (22.566.980) (5.043.375) (2.683.362)	1.587.147 (250.000) (23.291.425) (4.656.617) (2.175.011)
Profit from operations Finance income Finance cost	8.531.419 1.278.840 (2.589.694)	7.038.626 1.021.865 (2.Ί22.0Ί5)_
Net finance cost	(1.310.854)	(1.700.210)
Net profit from investment activities Share of profit from investments presented with the equity method	1.157,660	-
	787.163	714.200
Profit before taxation	9.165.388	6.052.616
Taxation Profit for the year	(1.035.396) 8.129.992	(624.210) 5.428.406
Other total income (Impairment) / recovery in value of investments available for sale Net loss from revaluation of land after deferred taxation	(1.581) (8.616.304)	(291.918)	1.118
Other total income for the year	(8.617.885)	(290.800)
Total income of the year	(487.893)	5.137.606
Basic and fully diluted earnings per share (cents)	9,29		6,20

Dividend 7.437.500 4.637.500