Mopoli : Palmboomen Cultuur Maatschappij Mopoli (Palmeraies De Mopoli) N.V., Halfjaarlijkse financiële verslaggeving

M O P O L I

Palmboomen Cultuur Maatschappij Mopoli

(Palmeraies De Mopoli) N.V.

INTERIM REPORT

(UNAUDITED)

FINANCIAL YEAR 2022 / 2023

Mopoli - Unaudited interim report 2022 - p.1

PALMBOOMEN CULTUUR MAATSCHAPPIJ MOPOLI N.V.

DIRECTORS' INTERIM REPORT

Interim Financial Report as at 31st December 2022 (unaudited)

(Period from 01/07/2022 to 31/12/2022)

BUSINESS ACTIVITIES

Mopoli is a company investing in agro industry projects. Currently, it only grants loans to related companies. As at 31st December 2022 cash loans were provided to each of Socfinaf S.A. ("Socfinaf") and Afico S.A. ("Afico") both related parties of the Company.

The Company is listed on Euronext Brussels. The Company has no routine business processes and has no employees.

The Extraordinary General Meeting of shareholders of 10th June 2008 has authorised the Company to buy back its own shares for a maximum period of 18 months. Since then, this authorisation has been extended regularly and is still applicable as at 31st December 2022, however the availability of shares is limited. No shares were purchased during the period. As at 31st December 2022, the Company holds 219 founder shares and 5,904 common shares with no new acquisition until the establishment of this report.

The strategy of the Company remains to buy back its own shares in case any shares are offered to the market with the intent to initiate a squeeze-out procedure.

As such, the Management Board recognises that the main risk is credit risk regarding the recoverability of the loans. For this risk, considered low, the Management Board is willing to accept the risk and does not hedge or mitigate these factors.

The Company has no research and development activity.

RESULTS

The financial half-year ended at 31st December 2022 with a profit of EUR 358,143 versus a profit of EUR 127,169 as at 31st December 2021.

The increase of the half-year result is mainly due to the decrease of the administrative costs.

BALANCE SHEET

At 31st December 2022, Mopoli's total assets amount to EUR 56.9 million compared to EUR 56.4 million as at 30th June 2022. Mopoli's assets are mainly composed of non-current receivables for EUR 9.0 million, short-term receivables for EUR 20.4 million and cash and cash equivalents for EUR 27.5 million. As at 31st December 2022, total Equity amounts to EUR 56.6 million compared to EUR 56.3 million as at 30th June 2022.

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OUTLOOK

Environment and climate change

The Management Board will continue to consider the potential impacts of the climate change in its judgements, and will integrate any new potential impact if this could lead to a material change in the Company's financial statements.

Operational and financing activities

Cash flows of the Company will depend on the proceeds received for the loans, the total amount of which may vary depending on advances and repayments.

Interest received should be stable compared to interest received during the year 2021/2022. The profit should however be slightly higher due to a reduction in financial expenses and in administrative costs.

RISKS - UNCERTAINTIES

The management do not foresee any specific or noted any new uncertainties that the company should have to face for the remaining six months of the financial year.

TRUE AND FAIR VIEW STATEMENT

With reference to section 5.25c paragraph 2c of the Financial Markets Supervision Act, the Board of Directors states that, to the best of its knowledge:

• the financial statements which have been prepared in accordance with IFRS adopted by the European Union and with Part 9 of Book 2 of the Dutch Civil Code gives a true and fair view of the assets, liabilities, financial position and profit or loss of Mopoli;
• the directors' report provides a fair review of the situation on the balance sheet date and of developments during the financial year of Mopoli whose information has been included in the financial statements, together with a description of the main risks the company faces.

MOPOLI

BOARD OF DIRECTORS

François Fabri	Hubert Fabri
Director	Director

Mopoli - Unaudited interim report 2022 - p.3

STATEMENT OF FINANCIAL POSITION (before appropriation of profit/loss)

As at 31st December 2022

ASSETS

(in thousands of Euro)	Notes	31st December 2022	30th June 2022
NON-CURRENT ASSETS		9,000	8,500
I.	Other receivables	1	9,000	8,500
CURRENT ASSETS		47,860	47,884
II.	Other receivables	1	20,366	20,342
III.	Other current assets		-	3
IV.	Cash and short-term deposits	2	27,494	27,539
TOTAL ASSETS		56,860	56,384

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EQUITY AND LIABILITIES

(in thousands of Euro)	Notes	31st December 2022	30th June 2022
EQUITY			56,632	56,274
I.	Share capital	3	2,244	2,244
II.	Statutory reserves	3	301	301
III.	Available reserves	3	523	523
IV.	Result for the year	3	358	391
V.	Retained earnings	3	56,580	56,189
VI.	Treasury Shares	3	-3,374	-3,374
CURRENT LIABILITIES		228	110
VII.	Trade and other payables		101	110
VIII.	Other current liabilities		127	-
TOTAL EQUITY AND LIABILITIES		56,860	56,384

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