METKA GROUP | ANNUAL REPORT 2014 - page 114-115

113
112
Annual Financial Statements
GROUP METKA
31/12/ 2014
Level 1
Level 2
Level 3
(Amounts in thousands
)
Financial assets
Financial assets at fair value through profit or loss
Stock Shares
2,500
2,500
-
-
Bank Bonds
-
-
-
-
Financial assets
investment portfolio
Financial Assets Available For Sale
31
-
31
-
Foreign Exchange Contracts (Forward)
-
-
-
Total
2,531
2,500
31
-
GROUP METKA
31/12/ 2013
Level 1
Level 2
Level 3
(Amounts in thousands
)
Financial assets
Financial assets at fair value through profit or loss
Stock Shares
886
886
-
-
Bank Bonds
281
281
-
-
Financial assets
investment portfolio
Financial Assets Available For Sale
32
-
32
-
Total
1,199
1,167
32
-
Financial liabilities
Foreign Exchange Contracts (Forward)
307
-
307
-
Total
307
-
307
-
METKA S.A.
31/12/ 2014
Level 1
Level 2
Level 3
(Amounts in thousands
)
Financial assets
Financial assets at fair value through profit or loss
Stock Shares
2,500
2,500
-
-
Financial assets
investment portfolio
Financial Assets Available For Sale
22
-
22
-
Foreign Exchange Contracts (Forward)
-
-
-
Total
2,522
2,500
22
-
METKA S.A.
31/12/ 2014
Level 1
Level 2
Level 3
(Amounts in thousands
)
Financial assets
Financial assets at fair value through profit or loss
Stock Shares
-
-
-
-
Financial assets
investment portfolio
Financial Assets Available For Sale
23
-
23
-
Total
23
-
23
-
Financial liabilities
Foreign Exchange Contracts (Forward)
307
-
307
-
Total
307
-
307
-
In 2014 and 2013 there were no transfers between level 1 and
2. The Group and Company have not classified financial instru-
ments in level 3.
The book value of the following financial data of assets
and liabilities is considered to be a logical approach to
their fair value:
Trade and other receivables
Cash and cash equivalents
Suppliers and other liabilities.
Borrowing
43. Capital management policies and
procedures
Group’s capital management objectives
are to ensure its ability to continue as a go-
ing –concern. This is achieved through the
assuring of preserving borrowing ability.
Furthermore, other objective is to provide
an adequate return to the shareholders and
the achievement of its contractual obliga-
tions.
The Group monitors capital on a basis of
net debt to equity. The ratio for the years
2014 and 2013 is as follows:
Group ΜΕΤΚΑ
METKA S.A.
(amounts in thousands
)
2014
2013
2014
2013
Total Equity
507,790
449,867
377,042
318,803
Minus : Cash and cash equivelants
-288,314
-134,542
-192,866
-56,398
Net Debt
219,477
315,325
184,176
262,405
Total Equity
507,790
449,867
377,042
318,803
Plus : Bank Dept
4,440
9,655
-
4,840
Total Ocuppied Capital
512,231
459,522
377,042
323,643
Net Debt over Total Equity
4/10
7/10
5/10
8/10
Group policy is to keep borrowing at a low level. Furthermore, Group policy is to borrow only when it is necessary
and for short-term.
The above ratio analysis shows the achievement of management goals as far as the capital management is con-
cerned.
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