Annual Report 2014

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Financial report Consolidated financial statements The amount of deferred tax assets computed on tax losses carried forward is detailed below, before deduction of unrecognised deferred tax assets, by year in which tax losses will expire: EXPIRATION YEAR DEFERRED TAX ASSET 2015 1,848 2016 2,223 2017 3,892 2018 3,775 2019 or later 22,830 Without expiration date 148,322 Total 182,890 Note 25 – Trade and other liabilities Non-current liabilities IN THOUSANDS OF EUR 2013 2014 Deferred income - Government grants 19,391 16,206 Other liabilities 24,393 37,199 Total 43,784 53,405 The Group has been awarded a number of government grants related to investments in property, plant and equipment. These government grants are recognised in the statement of financial position as deferred income for € 16,206 thousand (€ 19,391 thousand in 2013) and amortised over the useful life of the assets. All conditions attached to these grants have been fulfilled. Current liabilities IN THOUSANDS OF EUR 2013 2014 Trade liabilities 410,900 433,799 Other liabilities 206,043 203,686 Total 616,943 637,485 The other current liabilities include: IN THOUSANDS OF EUR 2013 2014 Income taxes payable 30,898 27,714 Other taxes payable 29,320 32,717 Remuneration payable 65,434 63,727 Social security payable 25,672 29,950 Deferred income and accrued charges 33,989 31,675 Derivative financial instruments with negative fair values 5,262 5,358 Dividends payable 266 268 Amount due to customers for construction contracts in progress 1,202 181 Advances received on construction contracts not started yet 479 23 Current cash guarantees received 2,487 2,364 Other 11,034 9,709 Total 206,043 203,686 132
Etex Annual Report 2014 Financial report Consolidated financial statements Note 26 – Statement of cash flow details (a) Depreciation, amortisation and impairment losses 2014 IN THOUSANDS OF EUR PROPERTY,PLANT, EQUIPMENT (NOTE 7) INTANGIBLE ASSETS (NOTE 8, 9) INVESTMENT PROPERTIES (NOTE 10) ASSETS HELD FOR SALE (NOTE 11) Depreciation 141,123 - 157 - 141,280 Amortisation - 21,978 - - 21,978 Impairment losses 18,712 1,267 -500 - 19,479 Total 159,835 23,245 -343 - 182,737 TOTAL 2013 IN THOUSANDS OF EUR PROPERTY,PLANT, EQUIPMENT (NOTE 7) INTANGIBLE ASSETS (NOTE 8, 9) INVESTMENT PROPERTIES (NOTE 10) ASSETS HELD FOR SALE (NOTE 11) Depreciation 145,643 - 187 - 145,830 Amortisation - 20,514 - - 20,514 Impairment losses 7,883 611 - 502 8,996 Total 153,526 21,125 187 502 175,340 TOTAL (b) Gains (losses) on sale and retirement of intangible assets and property, plant and equipment 2014 IN THOUSANDS OF EUR PROPERTY,PLANT, EQUIPMENT (NOTE 7) INTANGIBLE ASSETS (NOTE 9) INVESTMENT PROPERTIES (NOTE 10) ASSETS HELD FOR SALE (NOTE 11) Disposal proceeds 13,303 - 1,950 - 15,253 Net book value disposals -5,268 - -960 -67 -6,295 Gains (losses) on disposal 8,035 - 990 -67 8,958 Losses on retirement - - - - - Total 8,035 - 990 -67 8,958 TOTAL 2013 IN THOUSANDS OF EUR PROPERTY,PLANT, EQUIPMENT (NOTE 7) INTANGIBLE ASSETS (NOTE 9) INVESTMENT PROPERTIES (NOTE 10) ASSETS HELD FOR SALE (NOTE 11) Disposal proceeds 6,991 25 2,000 6,110 15,126 Net book value disposals -3,995 -26 -749 -665 -5,435 Gains (losses) on disposal 2,996 -1 1,251 5,445 9,691 Losses on retirement - - - - - Total 2,996 -1 1,251 5,445 9,691 TOTAL 133
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Annual Report 2014
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Key figures KEY FIGURES In mill
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Key events KEY EVENTS As a toke
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ABOUT ETEX 1 Our company & strategy
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Etex Annual Report 2014 About Etex
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worldwide presence with local ancho
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Fire protection & insulation Worldw
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Etex Annual Report 2014 Environment
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