Annual Report 2014

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Financial report Non-consolidated accounts of Etex S.A. 6.3 Non-consolidated accounts of Etex S.A. The annual accounts of Etex S.A. are presented below in a summarised form. In accordance with the Belgian Company Code, the annual accounts of Etex S.A., together with the management report and the auditor’s report, will be registered at the National Bank of Belgium. These documents are also available upon request at: Etex S.A. Group Finance Department Avenue de Tervueren 361 1150 Brussels The auditors have expressed an unqualified opinion on the annual statutory accounts of Etex S.A. Summarised balance sheet IN THOUSANDS OF EUR 2013 2014 Fixed assets 1,232,402 1,232,296 Tangible and intangible assets 3,397 3,556 Financial assets 1,229,005 1,228,740 Current assets 35,357 7,692 TOTAL ASSETS 1,267,759 1,239,988 Capital and reserves 1,227,159 1,195,866 Capital 4,491 4,491 Share premium 3,724 3,724 Reserves 1,218,943 1,187,650 Provisions 4,600 4,901 Creditors 36,000 39,222 TOTAL EQUITY AND LIABILITIES 1,267,759 1,239,988 142
Etex Annual Report 2014 Financial report Non-consolidated accounts of Etex S.A. Summarised income statement IN THOUSANDS OF EUR 2013 2014 Operating income 21,711 20,691 Operating charges -21,478 -21,337 Operating loss 233 -647 Financial result 12,098 2,233 Extraordinary result 28,717 261 Profit before taxes 41,048 1,847 Income taxes 12 -5 Profit for the year 41,061 1,842 Release of tax free reserves - - Profit for the year to be appropriated 41,061 1,842 Profit distribution The Board of Directors will propose at the General Shareholders’ Meeting on Wednesday 27 May 2015 a net dividend of € 0.3 per share. The proposed gross dividend is € 0.4 per share. The dividend will be paid on 1 July 2015. Appropriation account IN THOUSANDS OF EUR 2013 2014 Profit to be appropriated 41,061 1,842 Profit for the year to be appropriated 41,061 1,842 Appropriation of the profit 41,061 1,842 Transfer to/from reserve -11,239 31,293 Profit to be distributed -29,822 -33,135 Statutory nominations The directorships of Messrs. J.-L. de Cartier de Marchienne, W. Emsens, R. Haegelsteen, T. Scalmani and Ch. Simonard expire at the Shareholders’ meeting of 27 May 2015. The Board proposes the shareholders to renew their term of office for a period of three years. Their mandate will expire at the General Shareholders’ meeting to be in 2018. The directorships of Messrs. M. Nolet de Brauwere, A. Pelgrims de Bigard and the company Philium bvba, represented by Mr. Ph. Coens, expire at the Shareholders’ meeting of 27 May 2015. They do not stand for re-election. The Board wishes to sincerely thank Messrs. M. Nolet de Brauwere, A. Pelgrims de Bigard and the company Philium bvba, represented by Mr. Ph. Coens for their valuable advices during so many years. It is proposed to appoint Mrs. Caroline Thijssen, Mr. Guillaume Voortman and Mr Paul Van Oyen as new directors for a term of three years. Their mandate will expire at the General Shareholders’ meeting to be held in 2018. The term of office of the auditors of the non consolidated accounts carried out by Ernst & Young, Reviseurs d’Entreprises – Bedrijfrevisoren, represented by Mr. E. Golenvaux, will expire at the General Shareholders’ meeting of 27 May 2015. The Board proposes their re-election for a further term of three years, i.e. until the General Shareholders’ meeting of the Company to be held in 2018. The term of office of the auditors of the consolidated accounts carried out by Ernst & Young, Reviseurs d’Entreprises – Bedrijfrevisoren, represented by Mr. E. Golenvaux, will expire at the General Shareholders’ meeting of 27 May 2015. The Board proposes their re-election for a further term of three years, i.e. until the General Shareholders’ meeting of the Company to be held in 2018. 143
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Annual Report 2014
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ABOUT ETEX 1 Our company & strategy
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worldwide presence with local ancho
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