CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER TOTAL INCOME for the year ended 31 December 2022

	2022 €	2021 €
Income
Cost of sales	228.270	329.668
	(224.122)	(272.191)
Gross profit
Other income	4.148	57.477
Impairment losses and other provisions	10.000	10.000
Sales and marketing expenses	(38.534)	(5.000)
Administrative expenses	(1.020)	(469)
	(285.303)	(259.255)

Loss from operations	(310.709)	(197.247)
Net finance cost	(107.583)	(85.919)
Share in (loss) / profit of associated company	(481.641)	1.039.573
(Loss) / profit before taxation	(899.933)	756.407
Taxation	-	-
Net (loss) / profit for the year	(899.933)	756.407
Other total income	-	-
Total (expenses) / income for the year	(899.933)	756.407
Net (loss) / profit attributable to:
Shareholders' interest	(892.009)	752.127
Minority interest	(7.924)	4.280
	(899.933)	756.407

(Loss) / earnings per share (cents)	(18.56)	15.65

PHILOKTIMATIKI PUBLIC LIMITED

	2022 €	2021 €

ASSETS
Non-current Assets
Intangible fixed assets	97.643	109.618
Investment in associated company	11.039.479	11.521.120
Total non-current assets	11.137.122	11.630.738
Current assets
Inventories	868.000	895.000
Trade and other receivables	21.219	19.119
Receivables from affiliated companies	721.160	721.160
Cash and cash equivalents	3.333	1.053
Total current assets	1.613.712	1.636.332
Total assets	12.750.834	13.267.070

NET POSITION AND LIABILITIES
Equity
Share capital	4.084.128	4.084.128
Premium reserve	293.239	293.239
Reserve from conversion of share capital into Euro	20.664	20.664
Accumulated profits	3.816.382	4.708.391
	8.214.413 38.600	9.106.422
Minority interest Total equity	8.253.013	46.524 9.152.946

Long-term liabilities
Borrowings and bank overdrafts	2.015.000	1.715.000
Total long-term liabilities	2.015.000	1.715.000

Current liabilities
Borrowings and bank overdrafts	1.174.236	1.105.956
Trade and other creditors	92.924	90.632
Provisions	1.215.661	1.202.536
Current tax liabilities	-	-
Total current liabilities	2.482.821	2.399.124
Total liabilities	4.497.821	4.114.124
Total equity and liabilities	12.750.834	13.267.070

Net assets per share - cents	1.71	1.90

	Share Capital €	Share premium reserve €	Reserve from the conversion of capital into Euro €	Accumulated profits €	Total €	Minority interest €	Total equity €
Balance as at 1 January 2021	4.084.128	293.239	20.664	3.956.264	8.354.295	42.244	8.396.539
Net profit for the year after taxation	-	-	-	752.127	752.127	4.280	756.407
Balance as at 31 December 2021 / 1 January 2022	4.084.128	293.239	20.664	4.708.391	9.106.422	46.524	9.152.946
Net loss for the year after taxation	-	-	-	(892.009)	(892.009)	(7.924)	(899.933)
Balance as at 31 December 2022	4.084.128	293.239	20.664	3.816.382	8.214.413	38.600	8.253.013

for the year ended 31 December 2022

	2022	2021
	€	€
CASH FLOW FROM OPERATING ACTIVITIES
(Loss)/profit before taxation	(899.933)	756.407
Adjustments for:
Loss from depreciation in the value of stock	38.534	5.000
Debit interest	107.583	85.920
Depreciation of intangible fixed assets	14.175	14.063
Share of loss / (profit) in associated company	481.641	(926.334)

Net cash flow before changes in working capital	(258.000)	(64.944)
Changes in working capital
Increase in inventories	(11.534)	-
(Increase)/decrease in trade and other receivables	(2.100)	30.950
Increase in receivables from affiliated companies	-	(113.240)
Increase in trade and other creditors	2.292	1.707


Cash from operating activities	(269.342)	(145.527)
Tax paid	-	(875)

Net cash for operating activities	(269.342)	(146.402)
CASH FLOW FOR INVESTING ACTIVITIES
Purchase of intangible fixed assets	(2.200)	(2.550)

Net cash for investing activities	(2.200)	(2.550)

CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from borrowings from shareholders	300.000	300.000
Interest paid	(94.131)	(72.478)
Net cash from financing activities	205.869	227.522

Net increase/(decrease) in bank overdrafts	(65.673)	78.570

Bank overdrafts at beginning of year	(1.094.169)	(1.172.739)

Bank overdrafts at end of year	(1.159.842)	(1.094.189)