Académique Documents
Professionnel Documents
Culture Documents
Sales
Cost of materials (by nature)
Other operating income, net of other operating
Personnel expenses (by nature)
Depreciation and amortization (by nature)
Other operating income, net of other operating
Other operating income, net of other operating
Other operating income, net of other operating
Other income, net of other expense
Interest income
Other income, net of other expense
Interest expense
Other income, net of other expense
Tax expense
Minority interest
Net profit/loss to ordinary shareholders
FY2014
Turnover
Raw materials, consumables and goods for resale
expenses (by natServices and other goods
Personnel costs
Depreciation and amortization on formation expenses, intangible
expenses (by natAmounts written off stocks, contracts in progress and trade debt
expenses (by natOther operating charges
expenses (by natOther operating income
Recurrent operating result (REBIT)
Non-recurrent operating result
Operating result (EBIT)
Financial result
Financial income: interest income
Financial income: other
Financial charges: interest expense
Financial charges: other
Result before taxes
Taxes
Result after taxes
NET RESULT
Net result: non-controlling interests
Net result: Group share
FY2013
347,890
-104,430
-96,483
-78,888
-14,845
-1,819
-4,034
2,042
49,433
-261
49,172
16
18
5,384
-850
-4,536
49,188
-12,415
36,773
36,773
-2
36,775
332,319
-111,425
-87,259
-78,900
-13,290
-869
-2,636
3,431
41,371
-3,655
37,716
-1,740
75
2,501
-1,288
-3,028
35,976
-8,057
27,919
27,919
-1
27,920
Standard accounts
BALANCE SHEET
Ordinary shareholders'
Ordinary shareholders'
Ordinary shareholders'
Ordinary shareholders'
Minority interest
equity
equity
equity
equity
Non-current debt
Deferred tax liability
Non-current debt
Non-current debt
Other non-current liabilities (non-interest-bearing)
Current debt
Other current liabilities
Other current liabilities
Trade payables
Other current liabilities
Other current liabilities
Other current liabilities
Other current liabilities
Other current liabilities
Other current liabilities
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
ASSETS
Non current assets
Tangible assets
Goodwill
Intangible assets
Investment in other companies
Deferred tax assets
Other non current assets
Current assets
Stocks
Trade receivables
VAT receivables
Income tax receivables
Other amounts receivable
Cash and cash equivalents
Deferred charges and accrued income
TOTAL ASSETS
EQUITY AND LIABILITIES
Equity
Share Capital
Retained earnings
Treasury shares
Other reserves
Non-controlling interests
Non-current liabilities
Interest-bearing loans and borrowings
Deferred tax liabilities
Pensions
Provisions
Other non-current liabilities
Current liabilities
Interest-bearing loans and borrowings
Pensions
Provisions
Trade payables
Remuneration and social security
VAT payables
Tax payables
Derivative financial instruments
Other current liabilities
Accrued charges and deferred income
TOTAL EQUITY AND LIABILITIES
FY2014
FY2013
263,881
137,569
46,135
74,674
22
5,275
206
73,108
17,898
38,804
3,333
421
112
11,855
685
336,989
262,729
136,489
46,517
75,744
27
3,859
93
71,375
16,665
36,036
3,721
1,707
402
11,933
911
334,104
200,629
13,190
196,147
-9,419
656
55
39,506
325
34,905
3,558
661
57
96,854
41,144
56
56
33,309
12,357
126
7,097
10
147
2,552
336,989
171,375
11,246
167,099
-9,442
2,414
58
43,984
7,925
32,687
2,793
574
5
118,745
62,337
56
1,209
34,249
12,525
750
4,376
70
279
2,894
334,104
FY2014
Sales
Cost of sales (by function)
Gross profit
SG&A (by function)
Other operating income, net of other operating expenses (by function)
Operating profit
Investment income
Interest income
Interest expense
Other income, net of other expense
Profit before tax
Tax expense
Profit after tax
Net gain/loss from discontinued operations
Minority interest
Net profit/loss to ordinary shareholders
Cost of materials (by nature)
Personnel expenses (by nature)
Depreciation and amortization (by nature)
Other operating income, net of other operating expenses (by nature)
STANDARDIZED BALANCE SHEET
Non-current tangible assets
Non-current intangible assets
Deferred tax assets
Minority equity investments
Derivatives - asset
Other non-operating investments
Total non-current assets
Inventories
Trade receivables
Other current assets
Cash and marketable securities
Total current assets
Assets held for sale
TOTAL ASSETS
Ordinary shareholders' equity
Preference shares
Total shareholders' equity
Minority interest
Non-current debt
Deferred tax liabilities
Derivatives - liability
Other non-current liabilities (non-interest-bearing)
Total non-current liabilities
Current debt
Trade payables
Other current liabilities
Total current liabilities
Liabilities held for sale
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
FY2013
347890
0
0
0
0
49433
0
18
-850
587
49188
-12415
36773
0
-2
36775
-104430
-78888
-14845
-100294
FY2014
332319
0
0
0
0
41371
0
75
-1288
-4182
35976
-8057
27919
0
-1
27920
-111425
-78900
-13290
-87333
FY2013
137569
120809
5275
22
0
206
263881
17898
38804
4551
11855
73108
0
336989
200574
0
200574
55
4544
34905
0
57
39506
41144
33309
22401
96854
0
336989
136489
122261
3859
27
0
93
262729
16665
36036
6741
11933
71375
0
334104
171317
0
171317
58
11292
32687
0
5
43984
62337
34249
22159
118745
0
334104
2014
(1) Sales
SALES
4.69%
347890.00
10.75%
37398.18
DAYS' INVENTORIES
62.56
DAYS' RECEIVABLES
40.13
DAYS' PAYABLES
114.65
INVENTORIES TO SALES
5.15%
RECEIVABLES TO SALES
10.99%
PAYABLES TO SALES
-9.43%
3.27%
-5.13%
4.85%
4.68%
4.77%
65.74%
1.97%
0.20%
18.55%
1.39%
30.02%
11386.63
-17850
2014
Average operating working capital
Average net non-current operating assets
Average investment assets
Beginning operating working capital
Beginning net non-current operating assets
Beginning investment assets
Ending operating working capital
Ending net non-current operating assets
Ending investment assets
Net operating assets
Investment assets
Business assets
Debt
Equity
16582.57
228702.89
6853.43
14512.99
229917.00
574.01
16929.63
228691.00
6864.65
244429.99
574.01
245004.00
45688.00
200629.00
Capital
246317.00
2014
Sales
NOPAT
NIPAT
NBPAT
Net interest expense after tax
Net profit
Abnormal earnings
FCF equity
347890.00
37395.00
13.46
37408.46
635.46
36773.00
2015
2016
2017
2018
2019
5.00%
5.00%
4.00%
3.00%
2.00%
365284.50
383548.73
398890.67
410857.39
419074.54
9.75%
8.75%
7.75%
6.75%
5.75%
35615.24
33560.51
30914.03
27732.87
24096.79
60.56
58.56
56.56
54.56
52.56
40.13
40.13
40.13
40.13
40.13
114.65
114.65
114.65
114.65
114.65
4.98%
4.82%
4.65%
4.49%
4.32%
10.99%
10.99%
10.99%
10.99%
10.99%
-9.43%
-9.43%
-9.43%
-9.43%
-9.43%
3.27%
3.27%
3.27%
3.27%
3.27%
-5.13%
-5.13%
-5.13%
-5.13%
-5.13%
4.68%
4.52%
4.35%
4.19%
4.02%
4.52%
4.35%
4.19%
4.02%
4.02%
4.60%
4.43%
4.27%
4.10%
4.02%
65.74%
65.74%
65.74%
63.82%
62.57%
0.06%
0.06%
0.06%
0.06%
0.05%
5.90%
5.90%
5.90%
5.90%
5.90%
18.55%
18.55%
18.55%
18.55%
18.55%
1.39%
1.39%
1.39%
1.39%
1.39%
assumptions
2015
2016
2017
2018
2019
16796.87
17005.84
17029.97
16865.08
16857.72
240138.03
252144.93
262230.73
262209.19
262214.94
3546.33
228.00
228.00
228.00
228.00
16929.63
16664.11
17347.57
16712.36
17017.79
228691.00
251585.06
252704.80
271756.66
252661.72
6864.65
228.00
228.00
228.00
228.00
16664.11
17347.57
16712.36
17017.79
16697.66
251585.06
252704.80
271756.66
252661.72
271768.16
228.00
228.00
228.00
228.00
228.00
245620.63
268249.17
270052.38
288469.02
269679.51
6864.65
228.00
228.00
228.00
228.00
252485.28
268477.17
270280.38
288697.02
269907.51
45688.00
45688.00
45688.00
45688.00
45688.00
206797.28
222789.17
224592.38
243009.02
224219.51
252485.28
2015
268477.17
2016
270280.38
2017
288697.02
2018
269907.51
2019
365284.50
383548.73
398890.67
410857.39
419074.54
35615.24
33560.51
30914.03
27732.87
24096.79
209.23
13.45
13.45
13.45
13.45
35824.47
33573.97
30927.48
27746.33
24110.24
635.06
635.06
635.06
635.06
635.06
35189.41
32938.91
30292.42
27111.27
23475.18
2015
2016
2017
2018
2019
18645.63
15115.77
12325.03
7670.54
5537.62
27708.13
16947.02
28489.21
8694.63
42264.68
2020
2.00%
427456.03
5.75%
24578.72
52.56
40.13
114.65
4.32%
10.99%
-9.43%
3.27%
-5.13%
4.02%
0.00%
2.01%
62.57%
0.05%
5.90%
18.55%
1.39%
2020
8597.44
267459.24
228.00
16697.66
271768.16
228.00
497.22
263150.32
228.00
288465.82
228.00
288693.82
45688.00
243005.82
288693.82
2020
Not needed
Not needed
Not needed
Not needed
Not needed
Not needed
2020
Not needed
Not needed