DEMETRA HOLDINGS PLC
INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME
for the period 1 January 2022 to 30 September 2022
Nine months ended 30 September | ||
2022 | 2021 | |
Income | € | € |
749.394 | ||
Dividend income | 609.275 | |
Interest income | 161.828 | 152.354 |
Rent income | 718.048 | 788.625 |
Other income | - | 17.984 |
Profit from financial assets | 1.302.211 | 2.486.839 |
2.931.481 | 4.055.077 | |
Operating expenses | (992.905) | (953.992) |
Loss on sale and revaluation of land and buildings | - | (3.250) |
Reversal of provision / (provision) of expected credit losses | 69 | (299) |
Finance cost | (184.786) | (245.070) |
Recognition of negative goodwill | 2.104.764 | - |
Reversal of provision for share in loss from affiliates | 89.489 | 5.838 |
Share of profit from affiliates | 16.124.238 | 4.411.890 |
Profit before taxation | 20.072.350 | 7.270.194 |
Taxation | (21.411) | (18.930) |
Net profit for the period | 20.050.939 | 7.251.264 |
Other comprehensive expenses | ||
Amounts to be reclassified in the consolidated profit or loss account in | ||
future periods | (1.565.876) | |
Share of loss from affiliates | (693.120) | |
Amounts not to be reclassified in the consolidated profit or loss account in | ||
future periods | 54.674 | |
Share of profit from affiliates | 101.058 | |
Total income for the period | 18.539.737 | 6.659.202 |
Net profit attributable to: | 20.050.939 | |
Shareholders of the Company | 7.251.264 | |
Basic and fully diluted earnings per share - cents | 10.03 | 3.63 |
Total income attributable to: | 18.539.737 | |
Shareholders of the Company | 6.659.202 | |
Total income per share - cents | 9.27 | 3.33 |
DEMETRA HOLDINGS PLC
INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 30 September 2022
30 September | 31 December | |
2022 | 2021 | |
ASSETS | € | € |
Non-current assets | 1.427.946 | |
Intangible fixed assets | 1.473.214 | |
Investment property | 30.459.535 | 30.350.533 |
Investments in affiliates | 223.167.685 | 205.371.916 |
Receivables from affiliates | 11.758.923 | 11.603.917 |
Deferred taxation | 358.497 | 358.497 |
Total non-current assets | 267.172.586 | 249.158.077 |
Current assets | 12.077.641 | |
Immovable property inventories | 12.070.636 | |
Other receivables | 151.585 | 147.753 |
Financial assets at fair value through profit and loss | 18.226.895 | 20.299.176 |
Bank deposits | 8.000 | 8.000 |
Cash and cash equivalents | 967.290 | 917.223 |
Current tax claims | 35.469 | 26.739 |
Total current assets | 31.466.880 | 33.469.527 |
Total assets | 298.639.466 | 282.627.604 |
NET POSITION AND LIABILITIES | ||
Equity | 140.000.000 | |
Share capital | 140.000.000 | |
Reserves | 148.604.693 | 130.064.956 |
Total equity | 288.604.693 | 270.064.956 |
Non-current liabilities | 4.845.626 | |
Long-term loans | 7.023.808 | |
Total non-current liabilities | 4.845.626 | 7.023.808 |
Current liabilities | - | |
Bank overdrafts | 303.495 | |
Current portion of long-term loans | 1.834.810 | 1.838.302 |
Provision for losses of affiliates | 2.505.258 | 2.594.747 |
Trade and other creditors | 849.079 | 802.296 |
Total current liabilities | 5.189.147 | 5.538.840 |
Total equity and liabilities | 298.639.466 | 282.627.604 |
Net asset per share - cents | 144.30 | 135.03 |
DEMETRA HOLDINGS PLC
INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS for the period 1 January 2022 to 30 September 2022
Nine months ended 30 September | ||
2022 | 2021 | |
€ | € | |
Cash flow from operating activities | 20.072.350 | |
Profit before taxation | 7.270.194 | |
Adjustments for: | 48.243 | |
Depreciation of intangible fixed assets | 48.447 | |
Gain on disposal and revaluation of financial assets at fair price through | (1.302.211) | |
profit and loss | (2.486.839) | |
Loss on sale of fixed assets | 1.702 | - |
Negative goodwill | (2.104.764) | - |
Reversal of provision for share in loss from affiliates | (89.489) | (5.838) |
Share in profit from affiliates | (16.124.238) | (4.411.890) |
Payable loan interest | 177.187 | 195.785 |
Net cash flow before changes in working capital | 678.780 | 609.859 |
Increase in immovable property inventories | (7.005) | (160.649) |
(Increase) / decrease in other receivables | (3.832) | 7.202 |
Net purchases and sales of financial assets at fair value through profit and | 3.374.492 | |
loss | 102.115 | |
Increase in receivables from affiliates | (155.006) | (152.340) |
Increase in trade and other creditors | 46.783 | 114.962 |
Purchase of investment property | (109.002) | (32.300) |
Cash from operating activities | (3.825.210) | 488.849 |
Tax paid | (30.141) | (17.477) |
Net cash from operating activities | 3.795.069 | 471.372 |
Cash flow from investing activities | (4.677) | |
Purchase of intangible fixed assets | (1.379) | |
Acquisition of affiliates | (1.077.969) | - |
Net cash for investing activities | (1.082.646) | (1.379) |
Cash flow from financing activities | - | |
Proceeds from new loans | 2.982.090 | |
Repayment of loans | (2.358.861) | (2.029.704) |
Net cash (for) / from financing activities | (2.358.861) | 952.386 |
Net increase in cash and cash equivalents | 353.562 | 1.422.379 |
Cash and cash equivalents at beginning of period | 613.728 | 962.572 |
Cash and cash equivalents at end of period | 967.290 | 2.384.951 |
DEMETRA HOLDINGS PLC
INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY for the period 1 January 2022 to 30 September 2022
Share | Exchange | Negative | Accumulated | Total | |
capital | difference | goodwill | profits | equity | |
€ | reserve | reserve | € | € | |
€ | € | ||||
Balance as at 1 January 2021 | 140.000.000 | 319.437 | 119.850.066 | 6.790 | 266.959.646 |
Net profit for the period after taxation | - | - | - | 7.251.264 | 7.251.264 |
Other total expenses for the period | - | - | - | (592.062) | (592.062) |
Other transactions with shareholders | - | - | - | 345.194 | 345.194 |
Balance as at 30 September 2021 | 140.000.000 | 319.437 | 119.850.066 | 13.794.539 | 273.964.042 |
Balance as at 1 January 2022 | 140.000.000 | 319.437 | 119.850.066 | 9.895.453 | 270.064.956 |
Net Profit for the period after taxation | - | - | - | 20.050.939 | 20.050.939 |
Transfer between reserves | - | - | 2.147.969 | (2.147.969) | - |
Other total expenses for the period | - | - | - | (1.511.202) | (1.511.202) |
Other transactions with shareholders | - | - | - | - | - |
Balance as at 30 September 2022 | 140.000.000 | 319.437 | 121.998.035 | 26.287.221 | 288.604.693 |
By decision of the Company's Board of Directors, the negative goodwill which resulted in 2019 further to the acquisition of significant influence over the affiliate company Hellenic Bank was transferred from the accumulated losses reserve to the negative goodwill reserve. During the period, an additional amount of €2,147,969 relating to the negative goodwill resulting from the increase of the shareholding in Hellenic Bank during 2021 and the period ended 30 September 2022 was transferred to the negative goodwill reserve. The profits resulting from the negative goodwill are not realised and are considered as not available for distribution.
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Demetra Investment Public Ltd. published this content on 30 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 December 2022 05:46:04 UTC.