Annual Report 2014

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.
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