Ovostar Union : 24.05.2022 pdf865.21 kb FINANCIAL STATEMENTS (unaudited) for 3M ended 31 March 2022

OVOSTAR UNION PCL AND ITS SUBSIDIARIES CONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS

For the three months ended 31 March 2022

CONTENTS
REPRESENTATION OF THE MEMBERS OF THE BOARD OF DIRECTORS ...............................................	3
CONSOLIDATED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME..........................	4
CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION .................................	5
CONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY ..................................	6
CONSOLIDATED CONDENSED INTERIM STATEMENT OF CASH FLOWS ..............................................	7
NOTES TO THE CONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS..............................	8

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REPRESENTATION OF THE MEMBERS OF THE BOARD OF DIRECTORS

Members of the Board of Directors of Ovostar Union Public Company Limited in accordance with Sub-section (3c) and (7) of the Section (9) of the Law providing for transparency requirements in relation to information about issuers whose shares are admitted to trading on a regulated market (L.190(I)/2007 - "Transparency Law") herewith confirms that to the best of their knowledge:

The present consolidated condensed interim financial statements

1. have been prepared in accordance with the applicable International Financial Reporting Standards as adopted by the European Union and in compliance with the requirements set forth in Subsection (4) of the Section (9) of the Transparency Law, and
2. give a true and fair view of the assets, liabilities, financial position and profit or loss of the issuer and the undertakings included in the consolidated accounts taken as a whole.

23 May 2022

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	CONSOLIDATED	STATEMENT OF COMPREHENSIVE INCOME
	CONDENSED INTERIM	FOR THE THREE MONTHS ENDED 31 MARCH 2022
	FINANCIAL STATEMENTS	(IN USD THOUSAND, UNLESS OTHERWISE STATED)
			3 months ended	3 months ended
		Note	31 March 2022	31 March 2021
			(unaudited)	(unaudited)
	Revenue from contracts with customers	8	27 708	32 166
	Changes in fair value of biological assets	17	(17 480)	(134)
	Cost of sales	9	(23 612)	(25 127)
	Gross profit		(13 384)	6 906
	Selling and distribution costs	10	(1 943)	(1 757)
	Administrative expenses	11	(699)	(807)
	Other operating income	12	434	111
	Other operating expenses	13	(93)	(79)
	Operating profit		(15 686)	4 374
	Finance costs		(766)	(55)
	Finance income		9	406
	Profit before tax		(16 443)	4 726
	Income tax expense		-	(10)
	Profit for the period		(16 443)	4 715
	Other comprehensive income
	Exchange differences on translation to presentation currency		(6 836)	1 477
	Other comprehensive income for the period, net of tax		(6 836)	1 477
	Total comprehensive income for the period, net of tax		(23 279)	6 192
	Profit for the period attributable to:
	Equity holders of the parent company		(16 645)	4 721
	Non-controlling interests		202	(6)
	Total (loss) / profit for the period		(16 443)	4 715
	Other comprehensive income attributable to:
	Equity holders of the parent company		(6 804)	1 466
	Non-controlling interests		(32)	11
	Total other comprehensive income		(6 836)	1 477
	Total comprehensive income attributable to:
	Equity holders of the parent company		(23 449)	6 187
	Non-controlling interests		170	5
	Total comprehensive income		(23 279)	6 192
	Earnings per share:
	Weighted average number of shares		6 000 000	6 000 000
	Basic and diluted, profit for the period attributable to		(2,77)	0,79
	ordinary equity holders of the parent (USD per share)

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CONSOLIDATED	STATEMENT OF FINANCIAL POSITION
CONDENSED INTERIM	FOR THE THREE MONTHS ENDED 31 MARCH 2022
FINANCIAL STATEMENTS	(IN USD THOUSAND, UNLESS OTHERWISE STATED)

	Note	31 March 2022	31 December 2021	31 March 2021
		(unaudited)	(unaudited)	(unaudited)
ASSETS
Non-current assets
Biological assets	17	26 833	45 079	41 574
Property, plant and equipment and intangible assets	18	42 061	46 339	47 638
Deferred tax assets		175	188	1
Other non-current assets		-	-	16
Total non-current assets		69 069	91 606	89 229
Current assets
Inventories	19	17 271	13 021	13 731
Biological assets	17	14 775	15 459	14 336
Trade and other receivables	20	10 396	15 471	15 449
Prepayments to suppliers		577	3 114	1 577
Prepayments for income tax		26	28	27
Cash and cash equivalents	21	3 187	2 435	1 498
Total current assets		46 232	49 528	46 618
Total assets		115 301	141 134	135 847
EQUITY AND LIABILITIES
Equity
Issued capital	22	67	68	70
Share premium		30 933	30 933	30 933
Foreign currency translation reserve		(132 716)	(125 912)	(128 484)
Retained earnings		203 739	202 633	202 633
Result for the period		(16 645)	1 106	4 721
Equity attributable to equity holders of the parent		85 378	108 828	109 874
Non-controlling interests	7	647	476	723
Total equity		86 025	109 305	110 596
Non-current liabilities
Interest-bearing loans and other financial liabilities	23	4 824	9 494	4 943
Deferred tax liability		1 005	1 078	316
Total non-current liabilities		5 829	10 572	5 259
Current liabilities
Trade and other payables	24	14 508	14 347	10 913
Deferred income		2 714	2 981	3 124
Advances received		80	543	595
Interest-bearing loans and other financial liabilities	23	6 146	3 387	5 361
Total current liabilities		23 447	21 257	19 992
Total liabilities		29 277	31 829	25 251
Total equity and liabilities		115 301	141 134	135 847

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