METKA ANNUAL REPORT 2015 - page 108-109

108
109
Annual Financial Statements for FY 2015
04
36. Income tax expense
The Income tax expense for the Group and the Company is analyzed as follows:
38. Analysis of Cash Flow Adjustments
Analysis of Cash Flow Adjustments for the Group and the Company is analysed as follows:
39. Related party transactions
Transactions with affiliated companies are carried out on an arm’s length basis. The Group was not party to any transaction
of an unusual nature or structure that was material to it or to companies or persons closely associated with it, nor does it
intend to be party to such transactions in the future. None of the transactions incorporate special terms and conditions and
no guarantee was given or received.
Basic earnings per share are calculated by dividing the profit attributable to equity holders of the Company by the weighted average
number of ordinary shares in issue during the year.
There are no diluted earnings per share for the fiscal years 2015 and 2014.
According to the tax legislation, the tax rate applicable to the Greek corporates for the year 2015 is 29% as opposed to 26% of the
previous year (based on the provisions of the Law 4334/2015 published on 16/7/2015).
37. Earnings per share
Basic earnings per share (in euro / share) of the Group/Company are as follows:
Group METKA
METKA S.A.
(Amounts in thousands €)
31/12/2015
31/12/2014
31/12/2015
31/12/2014
Income Tax
21,498
18,640
20,972
16,232
Income Tax provision
448
-
-
-
Deferred taxation
9,328
(10,665)
8,888
(5,382)
Other Taxes
-
7
-
-
Total
31,273
7,982
29,861
10,850
Earnings before tax
100,521
98,300
47,167
84,758
Tax calculated at the statutory tax rate of 26%
29,151
25,558
13,678
22,037
Nominal Tax Rate Adjustments - Change in Greek
Tax Rate
2,831
-
2,848
-
Nominal Tax Rate Difference in foreign Subsidiary
Companies
(4,428)
(1,236)
-
-
Non taxable income
(10,817)
(35,940)
-
(30,619)
Non tax deductible expenses
13,125
12,707
12,418
12,690
Other taxes
68
-
14
-
Income tax coming from previous years
1,344
6,867
902
6,742
Other
-
26
-
-
Effective Tax Charge
31,273
7,982
29,861
10,850
Group METKA
METKA S.A.
(Amounts in thousands €)
1/1-31/12/2015
1/1-31/12/2014
1/1-31/12/2015
1/1-31/12/2014
Equity holders of the parent
68,917
90,199
17,306
73,908
Weighted average number of shares
51,951
51,951
51,951
51,951
Basic earnings per share
1.3266
1.7362
0.3331
1.4227
Group METKA
METKA S.A.
Amounts in thousands €
12 months until 31
December 2015
12 months until 31
December 2014
12 months until 31
December 2015
12 months until 31
December 2014
Adjustments to Profit after Tax for:
Depreciation of tangible assets
3,722
3,800
3,270
2,902
Depreciation of intangible assets
2
9
1
4
Provisions
147
(489)
61
(506)
Income from reverce of provisions
(58)
(118)
(26)
(103)
Profit / Loss from the Disposal of
tangible assets
44
(121)
4
(34)
Losses from the fair value recogni-
tion of financial assets through profit
and loss
4,376
1,375
4,376
1,461
Losses from sale of subsidiaries
-
3,075
-
1,510
Gains from sale of financial assets
available for sale
22
-
22
-
Profit from sales of financial assets at
fair value through profit and loss
-
(5,894)
-
(5,666)
Credit interest and similar income
(3,506)
(7,751)
(2,630)
(5,432)
Debit interest and similar expenses
966
455
20
88
Proceeds from dividends
-
-
-
(841)
Unrealised foreign currency gains /
(losses)
(3,767)
(16,675)
(3,751)
(12,341)
Total Adjustments to Profit after Tax
1,950
(22,334)
1,348
(18,957)
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