Download the 2009 annual report in PDF format - ANF

148
CONSOLIDATED FINANCIAL STATEMENTS
Notes to the consolidated fi nancial statements
Note 18 Cash fl ow per share
(€ thousands) 12/31/2009 12/31/2008
Operating income before changes in fair value of property 52,724 43,386
Depreciation & amortisation 333 159
Other operating provisions (net of reversals) 475 12
Income from disposal of assets (2,150) 24
Operating income before depreciation, amortisation
and provisions and gain (loss) on disposal
ANF • 2009 ANNUAL REPORT
51,382 43,581
Cancellation IFRS 2 impact (stock options) (charged to employee benefi ts expenses) 847 967
Subtotal 52,229 44,548
Net fi nancial expense (16,152) (13,073)
Current cash fl ow before tax 36,077 31,475
Average number of shares at opening 24,956,675 23,768,262
Average number of shares during fi scal year 25,513,761 23,880,501
CURRENT CASH FLOW PER SHARE 1.41 1.32
CURRENT CASH FLOW BEFORE TAX
AND AFTER GAIN (LOSS) ON ASSET DISPOSALS
38,227 31,451
CURRENT CASH FLOW AFTER GAIN (LOSS) ON ASSET DISPOSAL PER SHARE 1.50 1.32
Note 19 Tax calculation
(€ thousands) 12/2009 12/2008
Current taxes (1,902) 719
Deferred taxes - 13,793
TOTAL (1,902) 14,512
Net income after minority interests (53,977) 69,203
Income tax adjustment 1,902 (1,577)
Income before tax (52,075) 67,626
SIIC regime income (exempt) 37,043 37,538
SIIC regime fair value adjustment (89,478) 30,088
Unrealised gains taxed at reduced rate 9,057
TAX BASE 360 -
Current tax rate in France 34.43% 34.43%
Reduced rate 19.63%
Expected theoretical tax 1,902 -
TAX EXPENSE FOR YEAR 1,902 -
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Contents
OTHER GENERAL INFORMATION PRO FORMA FINANCIAL INFORMATION ANNUAL FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS INFORMATION ABOUT ANF DESCRIPTION OF THE BUSINESS