Mabion S A : Condensed Interim Financial Statements for the Period of 6 months ended 30 June 2023

MABION S.A. CONDENSED INTERIM FINANCIAL STATEMENTS AS AT AND FOR THE PERIOD OF 6 MONTHS ENDED 30 JUNE 2023

MABION S.A.

CONDENSED INTERIM FINANCIAL STATEMENTS AS AT AND FOR THE PERIOD OF 6 MONTHS

ENDED 30 JUNE 2023

Konstantynów Łódzki, 12 September 2023

MABION S.A. CONDENSED INTERIM FINANCIAL STATEMENTS AS AT AND FOR THE PERIOD OF 6 MONTHS ENDED 30 JUNE 2023

CONDENSED INTERIM STATEMENT

OF COMPREHENSIVE INCOME

		1 April 2023	1 January 2023	1 April 2022	1 January 2022
in PLN thousand, unless otherwise indicated	Notes	- 30 June 2023	- 30 June 2023	- 30 June 2022	- 30 June 2022
		(not reviewed)	(not audited)	(not reviewed)	(not audited)
Income from sales	7	34,301	72,457	17,537	39,816
Income from settling the purchase of materials	7	628	856	24,950	39,465
Lease income	7	1,100	2,261	1,426	3,272
Total income		36,030	75,575	43,913	82,553
Cost of sales	7	(7,968)	(16,826)	(8,305)	(15,609)
Own cost of purchased materials	7	(628)	(857)	(24,950)	(39,465)
Total costs		(8,596)	(17,683)	(33,255)	(55,074)
Gross profit on sales		27,433	57,892	10,658	27,479
Research and development costs	8	(1,693)	(3,782)	(2,966)	(4,845)
General administration costs	8	(8,459)	(18,883)	(5,069)	(12,917)
Other operating income	10	219	311	871	1,795
Other operating costs	10	(25)	(26)	(399)	(1,316)
Operating profit		17,475	35,512	3,095	10,197
Financial income	11	212	431	2,560	3,520
Financial costs	11	(2,443)	(4,229)	(536)	(1,156)
Gross profit		15,244	31,714	5,118	12,560
Income tax		-	-	-	-
NET PROFIT		15,244	31,714	5,118	12,560
Other comprehensive income		-	-	-	-
TOTAL COMPREHENSIVE INCOME		15,244	31,714	5,118	12,560
Basic and diluted loss per share (in PLN per share)		0.94	1.96	0.32	0.78

The explanatory notes presented on pages 5 to 27 are an integral part of these condensed interim financial statements.

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MABION S.A. CONDENSED INTERIM FINANCIAL STATEMENTS AS AT AND FOR THE PERIOD OF 6 MONTHS ENDED 30 JUNE 2023

CONDENSED INTERIM STATEMENT

OF FINANCIAL POSITION

in PLN thousand	Notes	30 June 2023	31 December 2022
(not audited)
Intangible assets	12b)	771	741
Property, plant and equipment	12a)	92,928	89,720
Long-term receivables	14	259	220
Deferred tax asset	22	13,310	13,310
Total fixed assets		107,268	103,991
Inventories	13	7,639	8,477
Trade receivables	14	2,916	7,746
Other receivables	14	11,130	6,522
Prepayments and accrued income	15	7,301	5,801
Cash and cash equivalents		38,468	53,638
Total current assets		67,455	82,184
TOTAL ASSETS		174,724	186,175
Share capital	16a)	1,616	1,616
Share premium		237,443	237,443
Supplementary capital	16a)	23,192	-
Accumulated losses		(154,030)	(162,552)
Total equity		108,221	76,507
Deferred income from grants	16b)	31,059	31,172
Loans and borrowings	19	299	377
Lease	20	3,277	3,816
Total long-term liabilities		34,635	35,365
Repayable advances on distribution rights	18	1,731	1,824
Trade liabilities	21	3,532	12,812
Other liabilities	21	3,432	3,250
Provisions	21	6,093	3,349
Loans and borrowings	19	135	136
Deferred income from grants	16b)	230	228
Other deferred income	16c)	59	69
Liabilities arising from the implementation of agreements	17	14,616	49,684
Lease prepayments	17	334	1,105
Lease	20	1,705	1,846
Total short-term liabilities		31,868	74,303
TOTAL LIABILITIES		66,503	109,668
TOTAL LIABILITIES AND EQUITY		174,724	186,175

The explanatory notes presented on pages 5 to 27 are an integral part of these condensed interim financial statements.

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MABION S.A. CONDENSED INTERIM FINANCIAL STATEMENTS AS AT AND FOR THE PERIOD OF 6 MONTHS ENDED 30 JUNE 2023

CONDENSED INTERIM CASH

FLOW STATEMENT

		1 January 2023	1 January 2022
in PLN thousand	Notes	- 30 June 2023	- 30 June 2022
		(not audited)	(not audited)
Net profit		31,714	12,560
Adjustments for items:
Depreciation and amortisation	8	3,509	5,057
Interest income	11	(395)	(79)
Interest costs	11	418	817
Income from grants	10	(114)	(635)
Costs of the share-based incentive scheme		-	2
Lease payment measurement		(619)	(789)
Change in assets and liabilities:
Change in inventories	13	838	1,357
Change in trade and other receivables	14	221	1,207
Change in prepayments and accrued income	15	(1,501)	982
Change in trade and other liabilities	21	(41,130)	(47,069)
Change in deferred income	16	(8)	78
Change in repayable advances on distribution rights	18	(93)	31
Change in other financial liabilities		(189)	5,135
Cash flows from operating activities		(7,349)	(21,345)
Proceeds from grants		-	1,540
Interest received	11	395	79
Interest paid	11	(418)	(817)
Net cash flows from operating activities		(7,372)	(20,543)
Disposal of property, plant and equipment		-	525
Acquisition of property, plant and equipment and intangible assets	12	(6,665)	(4,603)
Net cash flows from investing activities		(6,665)	(4,078)
Proceeds from borrowings		-	(1)
Repayment of borrowings	19	(78)	(401)
Repayment of lease principal	20	(1,055)	(1,385)
Net cash flows from financing activities		(1,133)	(1,787)
Net decrease in cash and cash equivalents		(15,170)	(26,408)
Cash and cash equivalents - opening balance		53,638	48,707
Cash and cash equivalents - closing balance		38,468	22,299

The explanatory notes presented on pages 5 to 27 are an integral part of these condensed interim financial statements.

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MABION S.A. CONDENSED INTERIM FINANCIAL STATEMENTS AS AT AND FOR THE PERIOD OF 6 MONTHS ENDED 30 JUNE 2023

CONDENSED INTERIM STATEMENT

OF CHANGES IN EQUITY

in PLN thousand	Share	Share	Supplementary	Other	Cumulative	Total
capital	premium	capital	reserves	losses	equity
As at 1 January 2022	1,616	237,443	-	731	(186,477)	53,313
Net profit / total comprehensive income	-	-	-	-	12,560	12,560
Measurement of the incentive scheme	-	-	-	2	-	2
based on shares
Closure of the share-based incentive scheme	-	-	-	-	-	-
As at 30 June 2022 (not audited)	1,616	237,443	-	733	(173,917)	65,875
As at 1 January 2023	1,616	237,443	-	-	(162,552)	76,506
Net profit / total comprehensive income	-	-	-	-	31,714	31,714
Carry-forward of net profit for 2022	-	-	23,192	-	(23,192)	-
As at 30 June 2023 (not audited)	1,616	237,443	23,192	-	(154,030)	108,220

The explanatory notes presented on pages 5 to 27 are an integral part of these condensed interim financial statements.

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