Pandora Investments Public : 04/05/2021 | Report and consolidated financial statements 31 December 2020 DOWNLOAD FILE

Pandora Investments Public Limited

Report and consolidated financial statements 31 December 2020

Contents

	Page
Consolidated statement of comprehensive income	1
Consolidated balance sheet	2 - 3
Consolidated statement of changes in equity	4 - 6
Consolidated statement of cash flows	7 - 8
Statement of comprehensive income	9
Balance sheet	10
Statement of changes in equity	11
Statement of cash flows	12

Important note

The attached statements are an extract from the audited financial statements, For fuller understanding we strongly recommend to refer to the full set of financial statements found in the web site of the Company and its announcement to the Cyprus Stock Exchange, The language of the financial statement is Greek. This report is a translation.

Pandora Investments Public Limited

Consolidated statement of comprehensive income for the year ended 31 December 2020

	2020	2019
	€	€
Revenue	65,645,222	57,599,015
Cost of sales	(31,432,528)	(26,922,114)
	___________	___________
Gross profit	34,212,694	30,676,901
Selling and marketing expenses	(14,529,588)	(17,201,703)
Administrative expenses	(11,833,115)	(12,676,681)
Share of (loss)/profit of associates	(253,872)	33,794
Share of profit of joint venture	2,685,884	1,337,945
Other income	2,901,140	2,289,043
Other gains - net	3,434,294	7,502,685
Loss from reversal of impairment losses on financial and
contract assets - net	(41,651)	(389,304)
	___________	___________
Operating profit	16,575,786	11,572,680
Finance costs - net	(4,948,501)	(4,635,989)
(Loss)/gain from financial liabilities carried at fair value through
profit or loss	(892,202)	865,068
	___________	___________
Profit before tax	10,735,083	7,801,759
Income tax (charge)/credit	(158,725)	2,209,948
	___________	___________
Profit for the year	10,576,358	10,011,707
	===========	===========
Attributable to:
Equity holders of the Company	10,241,766	9,941,293
Non-controlling interest	334,592	70,414
	___________	___________
	10,576,358	10,011,707
	===========	===========
Other comprehensive income:
Items that will not be reclassified to profit or
loss
Share of fair value losses from associates	(7,068)	(3,325)
Fair value losses of instruments of fair value through other
comprehensive income	(510,233)	(240,015)
	___________	___________
Items that will not be reclassified to profit or
loss	(517,301)	(243,340)
	___________	___________
Other comprehensive losses for the year after tax	(517,301)	(243,340)
	___________	___________
Total comprehensive profit for the year	10,059,057	9,768,367
	===========	===========
Attributable to:
Equity holders of the Company	9,724,465	9,697,953
Non-controlling interest	334,592	70,414
	___________	___________
	10,059,057	9,768,367
	===========	===========
Profit per share attributable to equity holders of the
Company (cents per share):
- Basic and diluted	2,41	2,34
	===========	===========

(1)

Pandora Investments Public Limited Consolidated balance sheet

at 31 December 2020

	2020	2019
	€	€
Assets
Non-current assets
Property, plant and equipment	2,436,848	2,494,611
Right-of-use assets	5,607,677	6,202,331
Investment property	375,624,900	373,038,588
Investments in joint ventures	2,687,669	-
Investments in associates	12,360,007	13,604,413
Financial assets at fair value through other
comprehensive income	9,319,369	9,829,602
Other assets	11,818,697	11,641,188
Trade and other receivables	3,493,277	3,327,566
Restricted cash	38,077,485	3,698,869
	___________	___________
	461,425,929	423,837,168
	___________	___________
Current assets
Inventories	205,104,042	204,063,374
Trade and other receivables	17,557,142	19,064,330
Other assets	6,481,299	11,574,639
Financial assets at fair value through profit or loss	3,470	7,578
Restricted cash	15,942,538	14,563,867
Cash and cash equivalents	25,176,702	33,544,700
	___________	___________
	270,265,193	282,818,488
	___________	___________
Total assets	731,691,122	706,655,656
	===========	===========
Equity and liabilities
Capital and reserves
Share capital	72,153,985	72,153,985
Share premium	21,149,101	21,149,101
Reserve from the conversion of share capital in Euro	365,074	365,074
Fair value reserve	1,426,468	1,943,704
Reserve of joint control	(7,658,150)	(7,658,150)
Retained earnings	159,595,775	149,577,520
	___________	___________
	247,032,253	237,531,234
Non-controlling interest	3,573,888	3,709,296
	___________	___________
Total equity	250,606,141	241,240,530
	___________	___________
Non-current liabilities
Borrowings	87,669,188	70,401,282
Convertible bonds	115,532,202	114,640,000
Lease liabilities	13,182,536	14,503,854
Deferred income tax liabilities	40,429,999	40,443,102
Contract liabilities	121,770,792	64,428,160
Contingent liability	2,876,745	2,766,101
	___________	___________
	381,461,462	307,182,499
	___________	___________

(2)

Pandora Investments Public Limited

Consolidated balance sheet

at 31 December 2020 (continued)

	2020	2019
	€	€
Current liabilities
Trade and other payables	21,210,091	28,530,015
Contract liabilities	56,296,470	89,671,736
Current income tax liabilities	391,458	251,073
Borrowings	20,268,995	38,388,679
Lease liabilities	1,456,505	1,391,124
	___________	___________
	99,623,519	158,232,627
	___________	___________
Total liabilities	481,084,981	465,415,126
	___________	___________
Total equity and liabilities	731,691,122	706,655,656
	===========	===========

On 4 May 2021 the Board of Directors of Pandora Investments Public Limited authorized these financial statements for issue,

George M, Leptos, Director

Christos Constantinides, Director

(3)

Pandora Investments Public Limited

Consolidated statement of changes in equity for the year ended 31 December 2020

			Attributable to equity holders of the Company
				Reserve from
				the conversion
				of share
	Share	Share	Fair value	capital into	Reserve	Retained		Non-controlling	Total
	Capital (2)	premium (2)	reserves (2)	Euro (2)	of joint control (2)	earnings (1)	Total	interest	equity
	€	€	€	€	€	€	€	€	€
Balance at 1 January 2019	72,153,985	21,149,101	2,187,044	365,074	(7,658,150)	126,072,285	214,269,339	9,852,584	224,121,923
	__________	__________	__________	__________	__________	__________	__________	__________	___________
Comprehensive profit
Profit for the year	-	-	-	-	-	9,941,293	9,941,293	70,414	10,011,707
	__________	__________	__________	__________	__________	__________	__________	__________	___________
Other comprehensive loss
Share of fair value loss from
associates	-	-	(3,325)	-	-	-	(3,325)	-	(3,325)
Fai value losses on financial assets at
fair value through other comprehensive
income	-	-	(240,015)	-	-	-	(240,015)	-	(240,015)
	__________	__________	_________	__________	__________	__________	__________	_________	___________
Total other comprehensive loss	-	-	(243,340)	-	-	-	(243,340)	-	(243,340)
	__________	__________	_________	__________	__________	__________	__________	_________	___________
Total (loss)/profit for the year	-	-	(243,340)	-	-	9,941,293	9,697,953	70,414	9,768,367
Transactions with owners
Buyout of non-controlling interest	-	-	-	-	-	13,563,942	13,563,942	(6,185,486)	7,378,456
Dividends paid to non-controlling interest	-	-	-	-	-	-	-	(28,216)	(28,216)
	__________	__________	_________	__________	__________	__________	__________	_________	___________
Total transactions with owners	-	-	-	-	-	13,563,942	13,563,942	(6,213,702)	7,350,240
	__________	__________	_________	__________	__________	__________	__________	_________	___________
Balance at 31 December 2019	72,153,985	21,149,101	1,943,704	365,074	(7,658,150)	149,577,520	237,531,234	3,709,296	241,240,530
	==========	==========	=========	==========	==========	==========	==========	=========	===========

(4)