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Petrolina (Holdings) Public LTD

Quarterly Report • Aug 10, 2015

2486_ir_2015-08-10_62295767-77cf-4557-98d9-532853c0b87e.pdf

Quarterly Report

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Condensed interim consolidated statement of total income for the six months ended 30 June 2015

Unaudited Unaudited Audited
6 months 6 months 12 months
30/06/2015 30/06/2014 31/12/2014
€ € €
Sales through service stations and to
commercial clients 162.481.372 177.184.229 351.951.535
Sales to other
oil companies
Turnover		 32.784
703
195.266.
075		 36.936.482
214.120.711		 74.018.809
425.970.344
Cost of sales (179.076.783) {196.817.138) (390.650.751}
Gross profit 16.1
89.292		 17.303.573 35.319.593
Other operating income 647.560 665.427 1.479.410
Other operating expenses (6.830)
Sales and distribution expenses (10.935.250) (11.053.057) (23.503.242)
Administrative expenses (2.856.578) (2.641.829) (5.301.679)
Provisions for bad debts (297.748) (593.576) (1.797.774)
Operating profit 2.747.276 3.680.538 6.189.478
Finance income 188.
765		 386.325 735.972
Finance costs .535
(984
)		 (1.043.557) {2.075.814)
Net finance costs (795
770)		 (657.232) (1.339.842)
Net profit from investing
activities 136.110 136.110
Share of profit from investment
presented with the net position
method 130.046 77.057 790.872
Profit before taxation 2.081.5
52		 3.236.473 5.776.618
Taxation (262.279) (426.206) (580.402)
Profit for the period 1.819.273 2.810.267 5.196.216
Other total income
Decrease in the value of investments
available for sale {45.151 )
Other total income
for the period (45.151)
Comprehensive total income
for the period		 1.819.
273		 2.765.116 5.196.216
Basic and fully diluted
profit per share (cent)		 2.08 3.21 5.94

Condensed interim consolidated statement of financial position as at 30 June 2015

Unaudited Audited
30/06/2015 31/12/2014
€ €
Assets
Property, plant and equipment 106.688.428 104.994.825
Property for investment 644.500 644.500
Goodwill 9.580.913 9.339.213
Investments presented with
the net position method 4
827.437		 4.389.903
Investments available for sale 86.066 86.066
Non-current assets 1 21.827.344 119.454.507
Stocks 11.379.202 15.162.699
Trade and other debtors 47.375.502 46.207.791
Tax refundable 49.782
Cash and cash equivalents 6.219.219 4.529.875
Current assets 64.973. 923 65.950.147
Total assets 186.801.267 185.404.654
Equity
Share capital 29.750.000 29.750.000
Difference from the conversion of share capital 150.525 150.525
Share premium reserve 9.611.704 9.611.704
Reappraisal reserve 25.685.298 25.685.298
Annuity reserve 42.636.890 42.305.1
17
Total equity 1 07. 834.417 107.502.644
Liabilities
Long-term loans .5
8.473
91		 7.486.208
Guarantees for cylinders and service stations 2.139.
964		 2.145.727
Deferred taxation 6.048. 638 6.048.638
Non-current liabilities 16.662.1 93 15.680.573
Bank overdrafts 633.
34
347		 36.762.221
Current installments of long-term loans 2.020.152 2.020.152
Short-term loans 10
200.000		 12.616.475
Trade and other creditors 15.216.138 10.822.589
Tax payable 235.
020
Current liabilities 62.304.657 62.221.437
Total liabilities 78. 966.850 77.902.010
Total equity and liabilities 186.
801.267		 185.404.654

The unaudited condensed interim consolidated financial statements were approved by the Board of Directors on 7 August 2015

Condensed interim consolidated statement of changes in net position for the six months ended 30 June 2015

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Condensed interim consolidated statement of cash flows for the six months ended 30 June 2015

Unaudited Unaudited
30/06/2015 30/06/2014
CASH FLOW FROM
OPERATING ACTIVITIES:		 € €
Profit for the period before taxation 2.081.552 3.236.473
Adjustments for:
Depreciation for property, plant and equipment 2.123.
023		 2.425.536
Depreciation for property in investment 10.050
Share of profit in associated companies (130.046) (77.057)
Provisions for bad debts 297.748 593.576
Interest payable 923.822 977.713
Interest receivable (16.277) (40.107)
Profit from the sale of a dependent company (136.110)
Loss / (profit) from the disposal of plant and equipment 1 9.974 (12.235)
5.
299.796		 6.977.839
Change in:
Stocks 3.783.497 994.113
Trade and other debtors (1.442.936) (626.975)
Guarantees of cylinders and service stations (5.763) (2.196)
Trade and other creditors 4.393. 548 7.713.065
Net inflow of cash from operating activities 12.028.1 42 15.055.846
CASH FLOW FROM INVESTING ACTIVITIES
Purchase of service station (241.700) (653.499)
Increase of investment in dependent company (307.488)
Purchase of plant and equipment (3.909.476) (6.358.000)
Proceeds from the sale of dependent company 1.026.421
Proceeds from the disposal of property, plant and equipment 72.876 62.889
Interest receivable 1 6. 277 40.107
Net outflow of cash for investing activities 511}
(4.369		 {5.882.082)
CASH FLOW FROM FINANCING
ACTIVITIES 822)
Interest paid (923
1.982.301		 (977.713)
Increase in long-term loans (994.917) 3.175.033
(1.0l0.076)
Repayment of loans (1.487. 500) (l.487.500)
Dividends
Net outflow of cash in financing activities (1 . 423. 938) (300.256)
Net increase in cash and cash equivalents 6
234.693		 8.873.508
Cash and cash equivalents at beginning of period 848.821)
(44		 (45.383.998)
Cash and cash equivalents at end of period (38.
614.128)		 (36.510.490)

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