Philoktimatiki Public LTD

Earnings Release • Sep 27, 2021

CONSOLIDATED CONDENSED STATEMENT OF PROFIT AND LOSS ACCOUNT AND OTHER COMPREHENSIVE INCOME FOR THE PERIOD UP TO 30 JUNE 2021

12 months ended 31 December			6 months ended 30 June
2020		2021	2020
€		€	€
394.663	INCOME	169.651	209.385
(286.787)	Cost of sales	(155.693)	(159.652)
107.876	GROSS PROFIT	13.958	49.733
10.300	Other income	5.000	5.000
(49.500)	Impairment losses and other provisions	-	-
(554)	Sales and promotion expenses	-	-
(263.648)	Administrative expenses	(133.923)	(137.472)
(195.526)	LOSS FROM OPERATIONS	(114.965)	(82.739)
(96.417)	Net finance costs	(43.558)	(54.520)
(214.533)	Share of (loss) / profit in associated company	2.324	1.300
(506.476)	LOSS BEFORE TAXATION	(156.199)	(135.959)
-	Taxation	-	-
(506.476)	NET LOSS FOR THE PERIOD	(156.199)	(135.959)
-	Other comprehensive income	-	-
(506.476)	TOTAL NET LOSS FOR THE PERIOD	(156.199)	(135.959)
	Net loss attributable to:
(500.719)	Shareholder interest	(154.220)	(134.167)
(5.757)	Minority interest	(1.979)	(1.792)
(506.476)		(156.199)	(135.959)
(10.42)	Loss per share (cents)	(3.21)	(2.79)

CONSOLIDATED CONDENSED STATEMENT OF FINANCIAL POSITION FOR THE PERIOD UP TO 30 JUNE 2021

	30 June 2021	31 Dec 2020
	€	€
ASSETS
NON-CURRENT ASSETS
Intangible fixed assets	114.524	121.131
Investment in associated company	10.597.111	10.594.787
Total non-current assets
	10.711.635	10.715.918
CURRENT ASSETS
Stocks	900.000	900.000
Trade and other receivables	55.480	50.069
Receivables from associated companies	607.920	607.920
Cash and cash equivalents	2.044	1.485
Total current assets	1.565.444	1.559.474
TOTAL ASSETS	12.277.079	12.275.392
NET POSITION AND LIABILITIES
EQUITY
Share capital	4.084.128	1.084.128
Share premium reserve	293.239	293.239
Reserve from conversion of share capital into euro	20.664	20.664
Accumulated profits	3.802.044	3.956.264
	8.200.075	8.354.295
Minority interest	40.265	42.244
Total Equity	8.240.340	8.396.539
NON-CURRENT LIABILITIES
Borrowings and bank overdrafts	1.100.000	465.000
Total non-current liabilities	1.100.000	465.000
Current liabilities
Borrowings and bank overdrafts	1.653.409	2.134.642
Trade and other creditors	87.410	88.925
Provisions	1.195.920	1.189.411
Current tax liabilities	-	875
Total current liabilities	2.936.739	3.413.853
Total Liabilities	4.036.739	3.878.853
Total Equity and Liabilities	12.277.078	12.275.392
Net assets per share – cents	1.71	1.74

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD UP TO 30 JUNE 2021

Attributable to the Company's shareholders

	Share Capital	Share premium reserve	Reserve from the conversion of share capital	Accumulated profits	Total	Minority interest	Total equity
	€	€	€	€	€	€	€
Balance as at 1 January 2020	4.084.128	293.239	20.664	4.456.902	8.854.933	48.001	8.902.934
Net loss for the year after taxation Contribution for defence in deemed distribution of dividend	- -	- -	- -	(500.719) 81	(500.719) 81	(5.757)	(506.476) 81
Balance as at 31 December 2020 / 1 January 2021	4.084.128	293.239	20.664	3.956.264	8.354.295	42.244	8.396.539
Net loss for the period after taxation Balance as at 30 June 2021	- 4.084.128	- 293.239	- 20.664	(154.220) 3.802.044	(154.220) 8.200.075	(1.979) 40.265	(156.199) 8.240.340

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD UP TO 30 JUNE 2021

	Six months	Six months
	ended	ended
	30 June 2021	30 June 2020
Cash flow from operating activities
Loss before taxation	(156.199)	(135.959)
Adjustments for:
Debit interest	43.558	54.520
Depreciation of intangible fixed assets	6.607	6.992
Share of loss in associated company	(2.324)	(1.300)
Net cash flow before changes in working capital	(108.358)	(75.747)
Changes in working capital
(Decrease) /increase in trade and other receivables	(5.411)	23.173
Decrease in trade and other creditors	(1.515)	(40.572)
Cash used for operating activities	(115.284)	(93.146)
Tax paid	(875)	(758)
Net cash for operating activities	(116.159)	(93.904)
Cash flow from investing activities
Purchase of intangible fixed assets	-	(550)
Net cash for investing activities	-	(550)
Cash flow from financing activities
Proceeds from borrowings from shareholders	300.000	115.000
Interest paid	(25.832)	(32.373)
Net cash from financing activities	274.168	82.627
Net increase / (decrease) in cash and cash equivalents and bank overdrafts	158.009	(11.827)
Cash and cash equivalents and bank overdrafts at beginning of year	(1.172.739)	(1.390.694)
Cash and cash equivalents and bank overdrafts at end of period	(1.014.730)	(1.402.521)