FINANCIAL INFORMATION OF THE GROUP AND THE COMPANY KIRIACOULIS MEDITERRANEAN CRUISES SHIPPING SA FOR THE THIRD QUARTER OF 2021

COMPANY KIRIACOULIS MEDITERRANEAN CRUISES SHIPPING SA announces:

Selected figures of the Statement of Comprehensive Income for the third quarter of 2021, for the first half of 2021 and their comparatives:

From the above table arise the following:

The Net Sales Revenue of the third quarter of 2021 for Kiriacoulis Mediterranean Cruises Shipping S.A. (Parent Company) showed an increase of  894.641 € or 45,64% in relation to the comparable period, while cumulatively the Net Sales Revenue for the period 1/1-30/9/2021 showed an increase of 1.428.170 € or 67,25% in relation to the comparable period.

The Net Sales Revenue of the third quarter of 2021 for the Group showed a decrease of 1.738.589 € or 24,73% in relation to the comparable period, while cumulatively the Net Sales Revenue for the period 1/1-30/9/2021 showed a decrease of 3.826.634 € or 16,60% in relation to the comparable period.

In the third quarter of 2021, the Parent Company produced Profit after taxes, increased by 60.017 € or 5,96% in relation to the comparable period of 2020, while cumulatively in the period 1/1-30/9/2021 it produced losses after taxes decreased by 772.514 € or 82,62% in relation to the comparable period.

In the third quarter of 2021, the Group produced Profit after taxes, corresponding to the owners of the Parent Company, increased by 162.674 € or 10,16% in relation to the comparable period of 2020, while cumulatively in the period 1/1-30/9/2021 produced losses after taxes corresponding to the owners of the Parent Company decreased by 2.721.625 € or 81,51% in relation to the comparable period.

It is noted that, the Parent Company and the Group during the first 9 months of 2021 and 2020 had neither revenues and expenses from discontinued operating activities nor total comprehensive income.

Selected figures of the Financial Position at 30/9/2021 and their comparatives are as follows:

From the above table arise the following:

The Equity of the Parent Company decreased by 162.558 € or 0,79%  compared to that of 31/12/2020.

The Equity attributable to the owners of the Parent Company decreased by 607.360 € or 4,08% compared to that of 31/12/2020.

On 30/9/2021 the loans of the Parent Company constitute of 16.84% of the total equity and liabilities. In terms of maturity, consist of 18,35% of loans with a repayment period of less than or equal to one year, 70,16% of loans with a repayment period of between one and five years and at a rate of 11,49% of loans with a repayment period of more than five years.

During the third quarter of 2021, the Parent Company did not receive funds from borrowings while it repaid loans by paying 404.060 €. During the first 9 months of 2021, the Parent Company received funds from borrowings 2.274.400 €, while it repaid loans by paying 1.083.058 €.

On 30/9/2021 the loans of the Group constitute of 16,79% of the total equity and liabilities. In terms of maturity, consist of 19,18% of loans with a repayment period of less than or equal to one year, 74,53% of loans with a repayment period of between one and five years and at a rate of 6,29% of loans with a repayment period of more than five years.

During the third quarter of 2021, the Group did not receive funds from borrowings while it repaid loans by paying 405.691 €. During the first 9 months of 2021, the Group received funds from borrowings 2.274.400 €, while it repaid loans by paying 1.084.688.

Consequences of the pandemic caused by COVID-19 disease.

During the first nine months of 2021, as well as during the corresponding period of 2020, the Group operated under conditions of health crisis, which was caused by COVID-19 disease. In order to limit the spread of this disease, almost all countries of the world, including Greece, imposed measures to limit the intra-border and cross-border movement of people by simultaneously reducing or suspending part of productive activities. The measures were stricter during the first five months of 2021, while from June onward they eased. The social and economic conditions that were formed had a negative impact on the revenues of all the operational sectors of the Group. They adversely affected the speed of receivables, which led to increased expected credit losses compared to those of pre-COVID19 uses. Taking into account the above and the financial data of the first half of 2021, losses are expected for the 12 months of 2021 after taxes on an individual and consolidated level, significantly reduced compared to those of the 12 months of 2020. It is noted that the Parent and its subsidiaries utilize all the means available to protect the health of human resources and their customers, the adjustment of their expenditures to the respective income levels, the best possible management of their cash and the raising of external funds. However, the return of the Group’s financial performance to pre-pandemic levels is subject to uncertainties that mainly concern the course of the health crisis, such as population vaccination rates and the occurrence of SARS-CoV-2 coronavirus mutations.

Consequences of the Energy Crisis.

The impact of energy supply costs on the financial figures of the Group is considered negligible. The energy consumption of the consolidated companies mainly concerns the electrification of office buildings, vehicle parking building and port facilities, while a small part of it concerns the electrification of yachts during their mooring. The following table shows the electricity consumption expenses for the period 1/1/ 2021-30/9/2021 as a percentage of the sales revenue for this period, for those companies that have the largest contribution to the consolidated sales revenue:

* Includes Companies SARL KIRIACOULIS FRANCE,  SARL VENT PORTANT, SARL KIRIACOULIS POINT D’AMURE and SCI DU DONATOR.

It is noted that all the facilities of the Group use for their internal and external lighting, lamps of low energy consumption, while at the same time it is given significant emphasis to the rational (depending on the climatic conditions) temperature regulation while using the air conditioners.