Anonimi Naftiliaki Etaria Kritis SA: FINANCIAL DATA AND INFORMATION FOR THE 2021 FINANCIAL YEAR

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ANEK LINES SA

GECR Number: 121557860000 Head Office: 148 Karamanli Avenue, Chania

Financial data and information for the period from January 1, 2021 to December 31, 2021

The following data and information are intended to provide users with general information on the financial situation and operating results of ANEK LINES SA and the Group. Therefore, it is recommended that any user, before making any investment decision or other transaction with the Company, visit the Company’s website, where the financial statements and the auditor’s report, if any, are published.

COMPANY INFORMATION

TOTAL COMPREHENSIVE RESULT (parent company and consolidated)

Supervisory authority : Ministry of Development, Limited Company Division Company Website : www.anek.gr

Board of Directors: Katsanevakis Georgios (Chairman), Protopapadakis Spyridon (Vice-Chairman A’), Georvasakis Michael (Vice-Chairman B’), Vardinoyannis Ioannis (General Manager), Archontakis Georgios (Deputy General Manager), Markantonakis Alexandros (Non-Executive Member), Fragkiadakis Georgios (Non-Executive Member), Malandrakis Ioannis (Independent Non-Executive Member), Bailakis Andreas (Independent Non-Executive Member), Bras Ioannis (Independent Non-Executive Member), Tsigaloglou Christianna (Independent Non-Executive Member)

Date of closing of the annual accounts: April 15, 2022

Statutory auditors – chartered accountants: Diamantoulakis Emmanouil (SOEL registration number 13101) – Kollyris Nikolaos (SOEL registration number 35591) Audit firms: GRANT THORNTON (Reg. No 127), SOL SA (Reg. No 125)

Type of auditors’ report: Unqualified opinion – Material uncertainty related to the going concern assumption

(Amounts in thousands of euros)

Group from 01.01 to 31.12.2021 31.12.2020

Company from 01.01 to 31.12.2021 31.12.2020

Turnover

149.997

124.452

129.411 109.986

Gross profit / (loss)

17.047

14.768

11,143 10,081

Profit / (loss) before tax, results of financing and investments (EBIT) Profit / (loss) before tax (EBT)

(3.911)

(4.463)

(6.058) (5.989)

(40.087)

(13.478)

(43,780) (14,567)

Profit / (loss) after tax (A)

(40.222)

(14.146)

(43,892) (14,765)

Owners of the parent company Non-controlling interests

(41.702)

(15.095)

1,480

949

– –– –

STATEMENT OF FINANCIAL POSITION (parent company and consolidated)

Other comprehensive income after tax (Β)

Total comprehensive income after tax (Α) + (Β)

(486) (40.708)

(3) (14,149)

(58) (43,950)

(3) (14,768)

(Ποσά εκφρασμένα σε χιλιάδες ευρώ)

Group 31.12.2021

31.12.2020

Company 31.12.2021

31.12.2020

ASSETS Tangible fixed assets Real estate investments Intangible fixed assets

230.546

263.259

218.413

255.834

1.568

1.748

540 672

166

217

166 217

Other non-current assets Inventories

2.038

2.539

8.830 8.901

3.848

2.689

2,327 1,597

Receivables

30.302

30.921

26.103 30.052

Owners of the parent company Non-controlling interests

(41.897)

(15.099)

1.189

950

– –– –

Basic result / (loss) after tax per share – (in €)

Diluted earnings / (loss) after tax per share – (in €)

(0.1855) (0.1855)

(0.0800) (0.0800)

(0.1952) (0.0783)

(0.1952) (0.0783)

Proposed dividend per share – (in €)

Profit / (loss) before tax, financing and investment results, depreciation and amortization (EBITDA)

7.030

6.826

4.065

4.781

Other current assets

6,790

6.186

4.819

4,870

Cash and cash equivalents TOTAL ASSETS

5.653 280.911

11.421 318.980

1,643 3,405

262.841 305.548

CASH FLOW STATEMENT (parent company and consolidated)

EQUITY AND LIABILITIES Share the capital

Other equity items

67,440 (121,943)

67.440 (80.046)

67.440

67.440

(119.884) (75.955)

Equity attributable to shareholders of the parent company (a)

(54.503)

(12.606)

(52.444) (8.515)

Non-controlling interests (b)

Total equity (c) = (a) + (b)

14.020 (40.483)

Long-term borrowings

Provisions and other long-term liabilities Short-term borrowings

Other current liabilities

Total liabilities (d)

TOTAL EQUITY AND LIABILITIES (c) + (d)

– 18,122 260,099 43,173 321.394 280.911

13.179 573 – 16,023 252,862 49,522 318.407 318.980

(52.444)

(8.515)

15.029 14.104

260.099 252.862

40,157 47,097

315.285 314.063

262.841 305.548

(Amounts in thousands of euros)

Group from 01.01 to 31.12.2021 31.12.2020

Company from 01.01 to 31.12.2021 31.12.2020

Operational activities

Profit / (loss) before tax Adjustments for:

(40.087)

(13.478)

(43.780)

(14.567)

Amortization Subsidies Amortization

10.947

11.296

(6)

(7)

(Gain) / loss on disposal of property, plant and equipment Provisions

(11)

(6)

(123)

1.328

Exchange differences Results of investment activity

521

(384)

10,123 – – 2,276 521

10.771 – – 1.247 (384)

25.777

(2.234)

27.402 (2.683)

Financial charges (less financial income)

9.510

9.331

9.432 9.342

6.528

5.846

5,974 3,726

STATEMENT OF CHANGES IN EQUITY (corporate and consolidated)

working capital:

(Amounts in thousands of euros)

Equity at the beginning of the year (01.01.2021 and 01.01.2020, respectively)

Group 31.12.2021 573

31.12.2020 4.883

Company 31.12.2021

31.12.2020

(8.515)

(3.933)

Decrease / (increase) in inventories Decrease / (increase) in receivables

(1.275)

Increase / (decrease) in liabilities (other than borrowings)

(273) (1.011)

445 5.578 (2.088)

(730)

(742) (1.424)

450 5.613 (2.630)

Total comprehensive income after tax

(40.708)

(14.149)

(43.950)

(14.768)

Capital increase (less related costs) Dividends paid

– (348)

10.698

Other equity movements

Equity at the end of the year (31.12.2021 and 31.12.2020, respectively)

(40.483)

(348) (511) 573

– – 21 (52.444)

10.698 –

(512)

(8.515)

Less:

Interest and finance charges paid Income tax paid

(1.221)

(1.423)

(1.129) (1.406)

Cash flow from operating activities (a)

(632) 2.116

(516) 7.842

(146) (172)

1,803 5,581

ADDITIONAL DATA AND INFORMATION

Investing activities

Acquisition of Affiliates, Securities and Other Investments

(2)

(2)

1. The Group’s entities included in the consolidated financial statements are presented in note 1 of the annual financial statements as of 12.31.2021, including the locations, the Group’s percentage ownership and the method of consolidation. 2. The basic accounting principles adopted in the financial statements are consistent with those of the 2020 annual financial statements, adjusted with revisions to IFRS. 3. There is no litigation or arbitration against the Group likely to significantly affect the financial situation.Τit recorded relevant provisions at 31.12.2021 for the Group and the Company amounting to 1,463 thousand for the Group and the Company. 4. The number of employees at 12.31.2021 was 658 (598 for the Company) and at 12.31.2020 670 (617 for the Company). 5. At the end of the period, no shares of the parent company were held by the parent company or by any subsidiary or associated company. 6. The Group’s “other comprehensive income” in the statement of comprehensive income for the year 2021 refers to 462 thousand to the effect of differences in the revaluation of land after tax, by 53 thousand (positive) to the change in the tax rate on deferred property taxes and by 77,000 to post-tax actuarial losses, whereas in 2020 referred entirely to post-tax actuarial profits. Other equity movements” in the statement of changes in equity for the year 2020 refers to the impact of the revaluation of the convertible bond loan reserve following the partial conversion of the bond loan. 7. The provisions for the unaudited fiscal years of the Group companies, presented in note 22 of the annual accounts, amount to 220 thousand ( 166 thousand for the Company). Accumulated provisions for bad debts amount to 46.755 thousand for the Group and 47,560 thousand for the Company, while provisions for end-of-career indemnities amounted to 1,459 thousand for the Group and at 1,390 thousand for the Company. Other provisions amount to 157 thousand go th Group and 151 thousand for the Society. 8. The ratio “Earnings / (losses) after taxes per basic share – (in )” are calculated on the basis of the weighted average number of total shares. For the calculation of the diluted earnings per share, the potential shares of the convertible bond of the parent company have been taken into account according to the applicable issue conditions and the requirements of IAS 33. 9. Intra-group transactions (inflows and outflows) since the beginning of the current year and inter-company balances at 31.12.2021 resulting from transactions with related parties, as defined by IAS 24, are as follows:

(Amounts in thousands of euros)

Group

Company

  • a) Entrances

    2 5.968

  • b) Outputs

    3,530 3,595

  • c) Receivables

    13,602 17,764

  • d) Debts

    102.531 103.232

  • e) Remuneration of the main executives

    1,581 1,317

  • f) Claims on key management

  • g) Payables to key management

– 13

– 13

Proceeds from the sale of shares and holdings Purchase of tangible and intangible fixed assets

25

51

(2.808)

(952)

25 (26)

– (170)

Proceeds from sale of property, plant and equipment Interest received

13

20

Dividends received

Cash flow from investing activities (b)

14 – (2.756)

36 – (847)

– – 163 162

– 1,163 (8)

Fundraising activities

Proceeds from the capital increase

Capital increase fee payments Financial lease payments

– – (3.918)

(146)

(3.573)

– – (2.911)

– -146 (3.573)

Payments from operating leases Income from borrowings Payment of borrowings Dividends paid

(224)

(206)

(145)

(132)

– (671) (315)

550

(336)

– (671)

– (336)

(361)

Cash flow from financing activities (c)

(5.128)

(4.072)

(3.727) (4.187)

Net increase / (decrease) in cash and cash equivalents (a) + (b) + (c)

Cash and cash equivalents at the beginning of the year

(5.768) 11.421

Cash and cash equivalents at the end of the year

5.653

2.923 8.498 11.421

(1.762) 1.386

3,405 2,019

1,643 3,405

Chania, April 15, 2022

THE VICE-PRESIDENT A’

THE DIRECTOR GENERAL

THE FINANCIAL DIRECTOR

THE CHIEF ACCOUNTANT

SPYRIDON I. PROTOPAPADAKIS

IOANNIS I. VARDINOYANNIS

STYLIANOS I. STAMOS

ID number ΑΑ 490648

ID number Π 966572

ID number ΑΜ 480641

IOANNIS E. SPANOUDAKIS HEC license n° 20599 Class A’

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