Woolworth (Cyprus) Properties PLC

Earnings Release • Dec 22, 2023

Woolworth (Cyprus) Properties Plc Interim Condensed Consolidated Statement of Profit and Loss Account

	30 June 2023	30 June 2022
	€	€
Turnover Rights of use of immovable property and other income	663.663	649.223
Total turnover	663.663	649.223
General expenses and administrative operating expenses	(666.682)	(592.430)
Other profits/(losses) - net	86.768	(27.592)
Profit from operations	83.749	29.201
Financing costs	(526.498)	(587.053)
Financing income	353.025	555.838
Loss before tax	(89.724)	(2.014)
Corporate tax and defence contribution	(12.473)	(12.581)
Loss after tax for the period	(102.197)	(14.595)
Net loss for the year attributable to the Company's shareholders	(102.197)	(14.595)
Comprehensive total losses attributable to the
Company's shareholders	(102.197)	(14.595)
Basic and fully diluted earnings per share attributable to
the Company's shareholders (cents per share)	(0.00)	(0.00)

Woolworth (Cyprus) Properties Plc Interim Condensed Consolidated Balance Sheet

	30 June	31 December
	2023	2022
	€	€
Assets
Non-Current Assets
Property, plant and equipment	57.004	60.228
Investment property	16.985.111	16.985.111
Investments in associated companies	9.871.193	9.871.193
Financial assets at fair value through profit and loss	1.763	1.763
Financial assets at amortised cost	18.502.347	19.156.121
Contractual asset	38.253.965	38.253.965
Blocked bank deposits	5.426.637	5.333.600
	89.098.020	89.661.981
Current Assets
Other non-financial assets	345.988	161.610
Financial assets at amortised cost	1.151.404	1.237.208
Cash and cash equivalents	14.296	36.024
	1.511.688	1.434.842
Total Assets	90.609.708	91.096.823
Equity and Liabilities
Capital and reserves attributable to the Company's
shareholders
Share capital	72.738.220	72.738.220
Difference from conversion of share capital into Euro	197.184	197.184
Share premium reserve	25.018.383	25.018.383
Equity	(154.437)	(154.437)
Capital reserve	23.000.000	23.000.000
Retained losses	(56.659.138)	(56.556.941)
Total equity	64.140.212	64.242.409
Liabilities
Non-current Liabilities
Borrowings	5.666.026	6.031.548
Deferred tax liabilities	1.158.352	1.158.352
	6.824.378	7.189.900
Current Liabilities
Creditors and expenses due	1.956.824	2.270.981
Current tax liabilities	248.396	318.046
Borrowings	15.475.119	15.110.708
Guarantees and credit commitments	1.964.779	1.964.779
	19.645.118	19.664.514
Total Liabilities	26.469.496	26.854.414
Total Equity and Liabilities	90.609.708	91.096.823

Woolworth (Cyprus) Properties Plc Interim Condensed Consolidated Statement of Changes in Equity

	Share Capital €	Difference from conversion of capital into Euro €	Equity €	Share premium reserve €	Capital Reserve €	Retained Losses €	Capital and reserves attributable to the Group's shareholders €
Balance as at 1 January 2022 / 31 December 2021	72.738.820	197.184	(154.437)	25.018.383	23.000.000	(56.438.327)	64.361.023
Comprehensive total income for the year Loss for the year	-	-	-	-	-	(118.614)	(118.614)
Balance as at 31 December 2022	72.738.820	197.184	(154.437)	25.018.383	23.000.000	(56.556.941)	64.242.409
Comprehensive total income for the year Loss for the period	-	-	-	-	-	(102.197)	(102.197)
Comprehensive total income for the year	-	-	-	-	-	(102.197)	(102.197)
Balance as at 30 June 2023	72.738.820	197.184	(154.437)	25.018.383	23.000.000	(56.659.138)	64.140.212

Woolworth (Cyprus) Properties Plc Interim Condensed Consolidated Statement of Cash Flows For the period ended 30 June 2023

	30 June	30 June
	2023	2022
	€	€
Cash flow (for)/from operations before changes in working
capital	81.044	27.842
Changes in working capital	(412.730)	245.580
Cash from operations	(331.686)	273.422
Tax paid	(69.655)	(89.480)
Net cash (for)/from operations	(401.341)	183.942
Cash flow from investing activities
Acquisition of property, plant and equipment	(6.541)	-
Net cash for investing activities	(6.541)	-
Cash flow from financing activities
Net borrowings	697.601	(75.307)
Interest paid	(526.498)	(587.053)
Interest collected	353.025	555.838
Net cash from financing activities	524.128	(106.522)
Net decrease in cash and cash equivalents and bank overdrafts	116.246	77.420
Amount transferred from cash and cash equivalents to bank deposits	(93.037)	-
Cash and cash equivalents and bank overdrafts at beginning of
period	(593.241)	(426.580)
Cash and cash equivalents and bank overdrafts at end of period	(570.032)	(349.160)