IFRS Consolidated Financial Statements of Xella ... · PDF file Consolidated Statement of Cash...
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Xella International S.A.
3 of 81
IFRS Consolidated Financial Statements of
Xella International S.A.
for 2014
Xella International S.A.
4 of 81
Table of contents
Consolidated Financial Statements 2014
Consolidated Statement of Financial Position ............................................................................ 6
Consolidated Statement of Income – by nature of expense ........................................................ 7
Consolidated Statement of Comprehensive Income ................................................................... 8
Consolidated Statement of Changes in Equity ............................................................................ 9
Consolidated Statement of Cash Flows .................................................................................... 11
Notes to the Consolidated Financial Statements 2014
A. Background .......................................................................................................................... 12
B. Notes to the Consolidated Statement of Financial Position .................................................. 28
1 . Property, Plant and Equipment ........................................................................................ 28
2 . Intangible Assets ............................................................................................................. 30
3 . Investments in Associates (At Equity) .............................................................................. 31
4 . Financial Assets ............................................................................................................... 32
5 . Deferred Taxes ................................................................................................................ 34
6 . Inventories ....................................................................................................................... 36
7 . Trade and Other Receivables .......................................................................................... 36
8 . Cash and Cash Equivalents ............................................................................................. 38
9 . Equity ............................................................................................................................... 39
10 . Financial Liabilities ......................................................................................................... 43
11 . Pension Provisions ........................................................................................................ 46
12 . Other Provisions ............................................................................................................ 52
13 . Deferred Income ............................................................................................................ 54
14 . Trade and Other Accounts Payable ............................................................................... 55
C. Notes to the Consolidated Statement of Income – By Nature of Expense ............................ 55
15 . Sales .............................................................................................................................. 55
16 . Other Income ................................................................................................................. 56
17 . Staff Expenses ............................................................................................................... 56
18 . Other Expenses ............................................................................................................. 57
19 . Result from Other Investments ....................................................................................... 58
20 . Finance Costs ................................................................................................................ 59
21 . Other Financial Result.................................................................................................... 59
22 . Income Taxes ................................................................................................................ 60
D. Other Notes to the Consolidated Financial Statements ........................................................ 61
23 . Financial Risk Management ........................................................................................... 61
24 . Contingencies ................................................................................................................ 67
Xella International S.A.
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25 . Corporate Acquisitions and Divestments ........................................................................ 68
26 . Consolidated Statement of Cash Flows ......................................................................... 69
27 . Segment Reporting ........................................................................................................ 71
28 . Related Parties .............................................................................................................. 74
29 . List of shareholdings ...................................................................................................... 77
30 . Significant Events After the End of the Financial Year ................................................... 80
Xella International S.A.
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Consolidated Statement of Financial Position
Dec. 31, 2014 Dec. 31, 2013
k€ k€
Property, plant & equipment (1) 1,019,296 1,091,485 Intangible assets (2) 580,965 584,173 Investments in associates (at equity) (3) 18,823 15,961 Financial assets (4) 55,019 77,303 Trade and other receivables 2,206 2,180 Tax assets 690 867 Deferred tax assets (5) 15,019 7,641 Non-current assets 1,692,018 1,779,610
Inventories (6) 145,739 145,102 Trade and other receivables (7) 136,862 142,255 Tax assets 13,751 8,790 Financial assets (4) 18,893 41,430 Cash and cash equivalents (8) 122,765 107,200 Deferred expenses 2,673 2,942 Current assets 440,683 447,719
Total assets 2,132,701 2,227,329
Dec. 31, 2014 Dec. 31, 2013
k€ k€
Shareholders' equity (286,907) (152,983) Non-controlling interests 22,162 19,353 Total equity (9) (264,745) (133,630) Financial liabilities (10) 1,652,745 1,596,198 Deferred tax liabilities (5) 105,971 118,563 Pension provisions (11) 204,340 162,132 Other provisions (12) 81,267 94,017 Trade and other accounts payable (non-current) 162 172 Deferred income (13) 6,387 6,194 Non-current liabilities 2,050,872 1,977,276
Financial liabilities (10) 37,881 43,365 Tax liabilities 8,373 8,651 Other provisions (12) 67,820 83,919 Trade and other accounts payable (14) 232,358 247,364 Deferred income 142 384 Current liabilities 346,574 383,683
Total equity and liabilities 2,132,701 2,227,329
NoteAssets
Equity and Liabilities Note
The accompanying notes are an integral part of these Consolidated Financial Statements.
Xella International S.A.
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Consolidated Statement of Income – By Nature of Expense
Jan. 1st -
Dec. 31, 2014
Jan. 1st -
Dec. 31, 2013
k€ k€
Sales (15) 1,272,935 1,254,095 Change in finished goods & work in progress 1,592 (6,615) Own work capitalised 3,970 3,000 Total output 1,278,497 1,250,480
Materials expenses (604,145) (593,168) Gross profit 674,352 657,312
Other income (16) 16,571 26,608 Total income 690,923 683,920
Staff expenses (17) (318,356) (309,944) Other expenses (18) (185,794) (180,046) EBITDA 186,773 193,930
Depreciation & amortisation expenses (127,573) (115,609) Impairment of goodwill (1,065) EBIT 59,200 77,256
Result from associates (at equity) 3,872 2,934 Result from other investments (19) 708 3,513 Finance costs (20) (146,368) (116,445) Other financial result (21) (15,048) (3,308) Financial result (156,836) (113,306)
Profit/ loss before tax (97,636) (36,050)
Current income taxes (10,579) (14,135) Deferred taxes 6,967 9,703 Income taxes (22) (3,612) (4,432) Net income/ loss (101,248) (40,482)
Net income/ loss attributable to shareholders (105,190) (43,707) Net income/ loss attributable to non-controlling interests 3,942 3,225
NoteConsolidated Statement of Income
The accompanying notes are an integral part of these Consolidated Financial Statements.
Xella International S.A.
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Consolidated Statement of Comprehensive Income
Consolidated Statement of Comprehensive Income Jan 1st - Dec
31, 2014
Jan 1st - Dec
31, 2013
k€ k€
Net income / loss (101,248) (40,482)
Other comprehensive income with potential subsequent
reclassification to the income statement
Currency adjustment 2,287 (10,399)
Share of other comprehensive income of investments in associates (at equity)
399 (1,578)
Remeasurement of available for sale investments * 104 16
Income taxes on items in other comprehensive income * (36) 23
Other comprehensive income without potential subsequent
reclassification to the income statement
Remeasurements from defined benefit liability * (44,153) 20,933
Income taxes on items in other comprehensive i
