METKA GROUP | ANNUAL REPORT 2012 - page 124

122
Ε. Figures and Information
Company's number in the register of Societes Anonymes: 10357/06/B/86/113
8 Artemidos Str., 151 25 Maroussi
Financial data and information for the period from 1st January 2012 until 31th December 2012
(Conforming to CL.2190, article 135, for companies issuing annual financial statements, consolidated or not, according to the IAS)
The financial data and information presented below aim to give summary information about the financial position and results of METKA S.A. and its subsidiaries.
We advise the reader, before making any investment decision or other transaction concerning the company, to visit the company's web site where the financial statements together with the Auditor's Report, are presented.
STATEMENT OF FINANCIAL POSITION (consolidated and company)
STATEMENT OF COMPREHENSIVE INCOME (consolidated and company)
ADDITIONAL DATA AND INFORMATION
GENERAL INFORMATIONFORTHECOMPANY
RelevantAuthority -Prefecture:
MinistryofFinance,Competitiveness&Shipping,GeneralSecretariatofCommerce,Directorateof Joint-stock companies&Credit
Company'swebaddress:
BoardofDirectors:
IOANNISMYTILINEOS -
PRESIDENT&MANAGINGDIRECTOR,
GEORGEPALLAS -
VICEPRESIDENTNON-EXECUTIVEMEMBER,
GEORGIOSECONOMOU,FILIPOSZOTOS,PANAYIOTISGARDELINOS, NIKOLAOSBAKIRTZOGLOU-
INDEPENDENTNON-EXECUTIVEMEMBER,
IOSIFAVAGIANOS-
INDEPENDENTNON-EXECUTIVEMEMBER
Dateofapprovalof theFinancialStatements:
MARCH26,2013
Nameof theauditor:
BassilisKazas
(A.M.SOEL :13281) -
Pavlos L.Stelakis
(Α.Μ.SOEL:24941)
Auditing firm:
GRANTTHORNTON (A.M.SOEL127)
AuditReportType:
Unqualified
(Amounts in 000's Euro)
THE GROUP
THE COMPANY
ASSET
31/12/12
31/12/11
31/12/12 31/12/11
Self used fixed assets
57.541
59.374
36.519 37.337
Intangible assets
30
52
13
22
Other non current assets
22.073
13.806
27.441 22.017
Inventories
37.358
45.541
36.404 44.432
Trade receivables
451.996
456.587
394.147 423.779
Other current assets
194.239
211.579
148.646 170.548
TOTAL ASSETS
763.237
786.939
643.170 698.135
EQUITY & LIABILITIES
Share Capital
16.624
16.624
16.624 16.624
Other Shareholders' Equity
336.204
305.237
270.611 273.535
Total Shareholders Equity (a)
352.829
321.861
287.235 290.159
Minority interests (b)
~17.154
~17.215
~~~~~`– ~~~~~`–
Total Equity (c)=(a)+(b)
369.983
339.076
287.235 290.159
Provisions and other long-term liabilities
126.753
95.369
111.761 84.488
Short-term borrowings
48.436
14.150
45.970 12.000
Other short-term liabilities
218.066
338.344
198.205 311.488
Total liabilities (d)
393.254
447.863
355.935 407.976
TOTAL EQUITY AND LIABILITIES ( c) +(d)
763.237
786.939
643.170 698.135
CASH FLOW STATEMENT- Indirect Method (consolidated & compny)
(Amounts in 000's Euro)
THE GROUP
THE COMPANY
1/1-31/12/12 1/1-31/12/11
1/1-31/12/12 1/1-31/12/11
Operating Activities
Profit before Taxes (Continued Operations)
84.415
148.770
46.511 138.895
Plus (Less) Adjustments for:
Depreciations
4.680
4.925
3.199
3.100
Provisions
(105)
105
(62)
(21)
Exchange differences
(98)
162
(98)
162
Results (revenues, expenses, profit, loss)
from Investment Activities
(6.604)
(4.833)
(4.647)
(2.027)
Debit Interest and similar expenses
~~3.020
~~1.798
~~2.597 ~~1.553
Operating profit before changes in working capital
85.308
150.927
47.500 141.661
Plus/less adjustments for changes
in working capital or operating activities:
Decrease /( Increase) in Inventories
17.793 (34.287)
17.639 (34.383)
Decrease / (Increase) in receivables
(13.558)
(18.920)
25.184
38.721
Decrease /( Increase) in other current assets
(4.342)
(8.304)
(4.495)
(2.221)
(Decrease) / Increase in short term liabilities (except for the banks)
(104.666)
60.063
(100.974)
(12.517)
Less:
Debit Interest and similar expenses paid
(2.252)
(1.771)
(1.851)
(1.553)
Taxation paid
~`(2.496)
~(30.573)
~(1.169)
(24.836)
Net cash flows from operating activities (a)
(24.213)
117.135
(18.166)
104.873
Investing Activities
Acquisition of subsidiary, associates and other investments
(1)
(1)
Purchase of tangible and intangible assets
(2.952)
(6.672)
(2.437)
(1.780)
Proceeds from the sale of tangible and intangible assets
141
60
72
47
Investments in Joint Ventures
(125)
(125)
Purchase of available for sale financial assets
52
414
28
85
Purchase of financial assets at fair value with changes in net results
(6.477)
Proceeds from Borrowings to affiliated parties
3.400
22.932
Proceeds fromsaleof financialassetsat fairvaluewithchanges innet results 5.095
345
Interest received
4.066
1.721
2.989
969
Borrowings to/from affiliated parties
(2.900)
(12.600)
Proceeds from dividends
800
Purchase of bonds
(65.300)
(54.600)
Proceeds from bonds
24.079
21.255
Cash from subsidiary absorption
~~~~~`–
~~~~~–
~~~~~~– ~~~`489
Net cash flows from investing activities (b)
(41.296)
(4.258)
(32.193)
10.815
Financing Activities
Proceeds from Borrowings
41.099
22.471
38.970
21.500
Payments of borrowings
(5.000)
(9.614)
(5.000)
(9.500)
Dividends paid
(39.000)
(26.092)
(38.935)
(24.892)
Net cash flows from financing activities (c)
~`(2.901)
~(13.235)
~`(4.964)
`(12.892)
Net increase in cash and cash equivalents (a) + (b) + (c)
`(68.411)
~~99.642
`(55.323)
`102.796
Cash and cash equivalents at the beginning of the period
~167.948 ~~68.271
~131.165 ~~28.470
Effects of exchange rate changes
~~~~`508 ~~~~~`36
~~~`(315)
~~~`(101)
Cash and cash equivalents at the end of the period
~`100.045 ~`167.948
~~`75.526 `~131.165
STATEMENT OF CHANGES IN EQUITY (consolidated and company)
(Amounts in 000's Euro)
THE GROUP
THE COMPANY
31/12/12
31/12/11
31/12/12 31/12/11
Equityatthebeginningoftheperiod(01/01/2012&01/01/2011respectively) 339.076
250.408
290.159 210.512
Total comprehensive income for the period after taxes
(continued and discontinued operations)
70.650
114.804
36.039 110.417
Dividents paid
(39.743)
(26.136)
(38.963)
(24.936)
Change due to absorption of subsidiary
~~~~~`–
~~~~~`–
~~~~~`– ~(5.833)
Equity at the end of the period
(31.12.2012 and 31.12.2011 respectively)
369.983
339.076
287.235 290.159
1.
Group Structure -Group companies that are included in the consolidated financial statements with their respective domicile and
percentageofownershipaswellas theconsolidationmethod in theconsolidated financialstatementsof the fiscalyearended2012
arepresented innote5of theannual financialstatementsof theGroup.
2.
The consolidated financial statements of METKA Group are incorporated in the consolidated financial statements of Mytilineos
Group, that isbased inGreeceandowns56,193%ofMETKAGroup.
3.
In theaboveFinancialStatements, theGroupadopted thebasicaccountingprinciples,whichwereemployed for issuing the financial
statementsofFY2011.Therearenotanyadjustements in theaccountingprinciplesand forecastscompared to thepreviousyear.
4.
Therearenoencumbrances to thecompany'sandGroup'sassets.
5.
Therearenooutstanding ligitationoranycourtorarbitrationdecision,whichcouldhaveasignificant impacton the financialstanding
or operation of the Company and the Group. The litigation provision balance as of 31.12.2012 amounts to € 1.187 thou.for the
Group and € 537 thou. for the Company. Other provisions balance as of 31.12.2012 amounts to € 3.702 thou. for the Group and
€1.916 thou. for the Company. The tax provision balance for fiscal years unaudited by tax authorities as of 31.12.2012 amounts to
€ 1.880 thou.for theGroup€1.580 thou. for theCompany.
6.
The tax unaudited fiscal years of the Company and the Group are presented in detail in note 39.2 of the annual financial statements
of theGroup.
7.
Thenumberofemployeesat theendof the reportingperiodareas follows:
THEGROUP
THECOMPANY
31/12/12
31/12/11
31/12/12 31/12/11
FULLTIMEEMPLOYEES
307
397
197
261
DAILY -WAGEEMPLOYEES
163
179
~57
~55
470
576
254
316
8.
Investements in tangible and intangible fixed assets for the fiscal year ended 2012, amounted to € 2.952 thou. for the Group and
€ 2.437 thou.for the Company.
9.
The earnings per share were calculated according to the earnings after tax and minorities on the weighted average number of
shares of the parent company.
10.
Intercompany transactions for the period from January 1,2012 to December 31,2012 according to I.A.S. 24 are as follows:
Amounts in000'sEuro
THEGROUP THECOMPANY
a) Income
47.550
47.678
b)Expenses
8.798
21.048
c)Receivables
171.739
168.562
d)Liabilities
2.316
13.191
e)Transactionand remunerationwith topmanagementandBoDmembers 3.506
2.803
f)Payables to topmanagementandBoDmembers
183
139
g)Receivables from topmanagementandBoDmembers
2
11.
Consolidated other total income after taxes is related to foreign exchange differnces (€ 237 thou) from the consolidation of
foreign firms.
12.
At theendof thecurrentperiod themothercompanyorsubsidiary firmsdonotpossesssharesof themothercompany.
13.
Therehasbeennodiscontinuanceof operationsof theCompanyor of theGroup.
14.
Anydifferences in totalsaredue to roundings.
(Amounts in 000's Euro)
THE GROUP
THE COMPANY
1/1-31/12/12 1/1-31/12/11
1/1-31/12/12 1/1-31/12/11
Sales Turnover
547.549 1.003.700
327.915 815.120
Gross Profit / (loss)
113.339
186.397
77.143 171.938
Profit before taxes, borrowings and investments results
87.995
156.601
52.897 149.167
Profit before taxes
84.415
148.770
46.511 138.895
Less taxes
~13.529
~32.437
~10.472 ~28.478
Profit after taxes (Α)
~70.887
116.332
~36.039 110.417
Owners of the parent
70.053
115.039
36.039 110.417
Minority interests
~~~`834
~~1.293
~~~~~`– ~~~~~`–
Other comprehensive income after taxes (Β)
~~`(237)
~(1.528)
~~~~~`– ~~~~~`–
Total comprehensive income for the period after taxes (Α) + (Β)
~70.650
114.804
~36.039 110.417
Owners of the parent
69.816
113.511
36.039 110.417
Minority interests
834
1.293
Earnings after taxes per share-basic (in €)
1,3485
2,2144
0,6937
2,1254
Proposed dividend
0,2500
0,7500
Profit before taxes, borrowings,investments and depreciation results
92.675
161.527
56.096 152.266
Maroussi, the 26th of March 2013
THE PRESIDENT OF THE BOARD & MANAGING DIRECTOR
THE MEMBER OF THE BOARD
THE FINANCIAL DIRECTOR
THE CHIEF ACCOUNTANT
IOANNIS MYTILINEOS
FILIPPOS ZOTOS
SPYRIDON PETRATOS
STYLIANOS PALIKARAS
I.D. No: AE044243/2007
I.D. No: P065848/1991
I.D. No: ΑΒ263393/2006
I.D. No: ΑΚ621204/2012
1...,114,115,116,117,118,119,120,121,122,123 125,126,127,128
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