ETX-10829_Etex-AR2017_WEB_2018_DEF2 (2)

6.1
Financial report
Consolidated financial statements
Etex Annual Report 2017
Financial report
Consolidated financial statements
Consolidated statement of financial position
in thousands of EUR Notes 2016 2017
Non-current assets 2,210,172 2,216,151
Property, plant and equipment (7) 1,581,014 1,640,978
Goodwill and other intangible assets (8) (9) 397,557 411,736
Investment properties (10) 23,657 23,376
Assets held for sale (11) 6,375 3,406
Investments in equity accounted investees (12) 37,197 8,186
Other non-current assets (13) 14,110 8,033
Deferred tax assets (24) 150,262 115,093
Employee benefits assets (21) - 5,343
Current assets 1,041,507 898,081
Inventories (15) 431,876 468,279
Trade and other receivables (14) 317,665 319,652
Other current assets (14) 8,731 3,137
Cash and cash equivalents (17) 283,235 107,013
TOTAL ASSETS 3,251,679 3,114,232
Total equity 888,581 1,010,833
Issued share capital 4,492 2,533
Share premium 3,724 743
Reserves and retained earnings 851,932 979,769
Attributable to the equity shareholders of Etex 860,148 983,045
Non-controlling interests 28,433 27,788
Non-current liabilities 1,134,221 1,141,217
Provisions (19) 162,696 137,827
Employee benefits liabilities (21) (22) 399,278 310,731
Loans and borrowings (23) 398,934 529,735
Deferred tax liabilities (24) 139,545 127,129
Other non-current liabilities (25) 33,768 35,795
Current liabilities 1,228,877 962,182
Provisions (19) 51,029 55,330
Current portion of loans and borrowings (23) 523,008 213,169
Trade and other liabilities (25) 654,840 693,683
TOTAL EQUITY AND LIABILITIES 3,251,679 3,114,232
Consolidated statement of cash flows
In thousands of EUR Notes 2016 2017
Operating income (EBIT) 176,390 268,623
Depreciation, amortisation and impairment losses (26) 160,868 163,425
Losses (gains) on sale of intangible assets and property, plant and equipment (26) -1,597 -3,272
Losses (gains) on sale of businesses 2,979 -34,387
Income tax paid (26) -51,028 -61,734
Changes in working capital, provisions and employee benefits (26) 26,130 -48,012
Changes in other non-current assets/liabilities -1,341 5,408
Discontinued operations: cash flow from operating activities (30) -22,090 -
Cash flow from operating activities 290,312 290,051
Proceeds from sale of intangible assets and property, plant and equipment (26) 5,668 9,950
Acquisition of business -20,753 -49,547
Disposal of business 1,328 11,931
Capital expenditure (26) -136,990 -147,746
Interest and dividend received (26) 4,668 4,988
Other -1 83
Discontinued operations: cash flow from investing activities (30) 173,228 -
Cash flow from investing activities 27,148 -170,341
Capital increase / (decrease) -11,423 -4,660
Proceeds (repayment) of borrowings -35,968 -189,502
Dividend paid (26) -36,153 -39,351
Interest paid -46,199 -50,554
Discontinued operations: cash flow from financing activities (30) -39,135 -
Cash flow from financing activities -168,879 -284,067
Net increase (decrease) in cash and cash equivalents 148,581 -164,357
Cash and cash equivalents at the beginning of the year 161,829 279,432
Translation differences -19,443 -9,444
Changes in the scope of consolidation -11,535 -1,663
Net increase (decrease) in cash and cash equivalents 148,581 -164,357
Cash and cash equivalents at the end of the year 279,432 103,968
Cash and cash equivalents 283,235 107,013
Bank overdrafts -3,803 -3,045
The presentation of the 2016 consolidated statement of cash flows is impacted by the discontinued operations. Refer to note 30
Etex Annual Report 2017 p. 3
Etex Annual Report 2017 p. 4
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