Petros Petropoulos AEBE : Group Financial Report, A’ Semester 2022

Athens, August 9, 2022

Group Financial Report, A' Semester 2022

Group revenue was recorded at €70.24m (decrease of 5,5%), compared to €74.36m in the 1st semester of 2021, which had achieved significant increase in comparison to the same period of the previous year.

The decline in sales was mainly due to lower sales of agricultural division, in anticipation of the new National scheme for agricultural development.

In addition, the continuing level of supply chain related disruptions and inefficiencies, affected similarly the sales performance.

The increase in expenses is mainly driven by non-recurring expenses, inflationary pressures on the prices of products and services, as the additional cost of warehousing to mitigate the impact of the supply chain inefficiencies.

Despite of the above-mentioned challenges, gross margin performed at the same level with the last year.

Earnings after income tax and minority rights decreased by 38.1% to €1.69m (€2.73m at 30.6.2021).

Total bank borrowing decreased by 31.8% to €9.00m (€13.20m at 31.12.2021), while net debt was zero (0).

Group Solvency (Equity as a percentage of Total Assets excluding Cash and Cash Equivalents) as at 30 June 2022 was 61.9%.

PETROS PETROPOULOS AEBE

Address	Telephone	Fax	Email
96-104 Iera Odos	[phone]	[phone]	[e-mail]
104 47 Athens

	Summary Consolidated Profit & Loss Statement (in € 000).
			1 Jan - 30 June.
			2022	2021
	Total Sales		70,241	74,359
	Gross Profit		12,814	13,890
	Other Income		1,265	1,055
	Administrative, Selling & Marketing Expense		(11.344)	(8,927)
	Other Expenses		(233)	(594)
	Operating Profit		2,502	5,424
	Net Financial Income (Expense)		(180)	(714)
	Depreciation included in Operating Cost		570	606
	Net Profit before Income Tax		2,322	4,710
	Income Taxes		(637)	(1,982)
	Net Profit after Income Tax		1,685	2,728
	Minority Interests		0	0
	Net Profit After Income Tax & Minority Interests		1,685	2,728
	Earnings per Share		0.258	0.417

PETROS PETROPOULOS AEBE

Address	Telephone	Fax	Email
96-104 Iera Odos	[phone]	[phone]	[e-mail]
104 47 Athens

Summary Balance Sheet Items before Profit Distribution (in € 000)

			30/06/2022	31/12/2021
	Assets
	Current Assets
	Cash & Cash Equivalents		9,036	15,860
	Accounts Receivable		22,405	23,027
	Inventories		25,050	19,997
	Other Receivables		3,441	3,995
	Non Current Assets
	Intangible Assets		1,303	1,321
	Tangible Assets		14,302	14,072
	Long term Accounts Receivable		429	486
	Other Long Term Assets		434	412
	Total		76,400	79,170
	Liabilities
	Short Term Bank Debt		2,753	3,475
	Other Short Term Liabilities		22,942	20,963
	Long Term Bank Debt		6,250	9,725
	Other Long Term Liabilities		2,723	2,660
	Total Liabilities		34,668	36,823
	Equity		41,732	42,347
	Total		76,400	79,170

Petros Petropoulos AEBE was established in Thessaloniki in 1922. It manufactures, modifies, distributes and supports a wide range of automotive products including automobiles, trucks and buses, generating sets, diesel engines, boats, outboard engines, agricultural, earthmoving and industrial equipment, lubricants, batteries and tires. The Company has a leading position in the Greek market in the sectors which it serves.

For any further information, please contact Mrs. Athina Tsiagka, tel. [phone].

PETROS PETROPOULOS AEBE

Address	Telephone	Fax	Email
96-104 Iera Odos	[phone]	[phone]	[e-mail]
104 47 Athens