34
35
Interim Financial Statements
MYTILINEOS GROUP
MYTILINEOS S.A.
(Amounts in thousands
€
)
1/1-30/06/2016 1/1-30/06/2015 1/1-30/06/2016 1/1-30/06/2015
Cash flows from operating activities
-
Cash flows from operating activities
8.27
100.819
(1.294)
(6.591)
3.431
Interest paid
(24.318)
(17.335)
(1.367)
(5.321)
Taxes paid
(1.388)
(2.008)
-
(760)
Net Cash flows continuing operating activities
75.112
(20.637)
(7.958)
(2.650)
Net Cash flows discontinuing operating activities
(523)
(1.072)
-
-
Net Cash flows from continuing and discontinuing operating activities
74.588
(21.709)
(7.958)
(2.650)
Net Cash flow from continuing and discontinuing investing activities
-
Purchases of tangible assets
(45.609)
(16.819)
(31)
(33)
Purchases of intangible assets
(1.913)
(1.276)
(14)
(10)
Sale of tangible assets
1.264
132
-
-
Dividends received
-
-
5.078
12.988
Purchase of financial assets at fair value through profit and loss
(2.000)
(2.832)
-
-
Acquisition of associates
-
1
-
-
Acquisition /Sale of subsidiaries (less cash)
-
(1)
-
-
Sale of financial assets held-for-sale
3
3
-
-
Sale of financial assets at fair value through profit and loss
-
540
-
540
Interest received
587
1.627
12
53
Grants received
-
773
-
-
Other cash flows from investing activities
3
-
-
-
Net Cash flow from continuing investing activities
(47.664)
(17.852)
5.045
13.537
Net Cash flow from discontinuing investing activities
-
-
-
-
Net Cash flow from continuing and discontinuing investing activities
(47.664)
(17.852)
5.045
13.537
Net Cash flow continuing and discontinuing financing activities
-
Proceeds from issue of share capital
-
115
-
-
Tax payments
6
(3)
-
-
Dividends payed to parent’s shareholders
(3.433)
(13.035)
-
-
Proceeds from borrowings
116.872
90.583
10.200
-
Repayments of borrowings
(67.681)
(33.683)
(7.500)
-
Return of share capital to shareholders
-
(11)
-
-
Net Cash flow continuing financing activities
45.763
43.966
2.700
-
Net Cash flow from discontinuing financing activities
-
-
-
-
Net Cash flow continuing and discontinuing financing activities
45.763
43.966
2.700
-
Net (decrease)/increase in cash and cash equivalents
72.687
4.405
(213)
10.887
Cash and cash equivalents at beginning of period
200.859
313.428
1.249
786
Exchange differences in cash and cash equivalents
(494)
18
-
-
Net cash at the end of the period
273.053
317.853
1.036
11.674
Cash and cash equivalent
273.053
317.853
1.036
11.674
Net cash at the end of the period
273.053
317.853
1.036
11.674
(Amounts in thousands
€
)
1/1-30/06/2016
Metallurgy Constructions Energy
Others Discontinuing
Operations Total Segment
Total Gross Sales
276.728
262.625
155.433
-
-
694.786
Intercompany sales
(52.400)
-
(2.900)
-
-
(55.300)
Inter-segment sales
-
(3.736)
-
-
-
(3.736)
Net Sales
224.328
258.889
152.533
-
-
635.750
Earnings before interest and income tax
22.253
39.786
6.828
(2.957)
520
66.430
Financial results
(10.485)
(4.851)
(11.425)
(5.494)
9
(32.246)
Share of profit of associates
-
-
153
-
-
153
Profit from company acquisition
-
-
-
-
-
-
Profit before income tax
11.768
34.935
(4.443)
(8.451)
529
34.339
Income tax expense
(400)
(9.394)
(1,146)
864
-
(10.076)
Profit for the period
11.368
25.541
(5.589)
(7.587)
529
24.262
Result from discontinuing operations
-
-
-
-
529
529
Assets depreciation
14.754
1.891
20.421
(2.549)
(5)
34.512
Other operating included in EBITDA
-
409
-
-
-
409
Oper.Earnings before income tax,financial
results,depreciation and amortization
37.007
42.086
27.249
(5.506)
515
101.351
(Amounts in thousands
€
)
1/1-30/06/2015
Metallurgy Constructions Energy
Others Discontinuing
Operations Total Segment
Total Gross Sales
336.435
257.560
90.330 10.230
(3.114)
691.441
Intercompany sales
(38.785)
-
(4.341)
(10.230)
-
(53.356)
Inter-segment sales
-
(1,555)
-
-
-
(1.555)
Net Sales
297.650
256.005
85.989
-
(3.114)
636.530
Earnings before interest and income tax
50.807
47.386
(7.457)
(398)
905
91.243
Financial results
(7.173)
(4.354)
(11.219)
(8.216)
20
(30.942)
Share of profit of associates
-
(194)
218
194
-
218
Profit from company acquisition
-
-
-
-
-
-
Profit before income tax
43.634
42.838
(18.458)
(8.420)
925
60.519
Income tax expense
(3.837)
(10.612)
(1.602)
1.168
-
(14.883)
Profit for the period
39.797
32.226
(20.060)
(7.252)
925
45.636
Result from discontinuing operations
-
-
-
-
925
925
Assets depreciation
14.560
1.904
14.020 (2.555)
(475)
27.454
Other operating included in EBITDA
-
(12)
-
-
-
(12)
Oper.Earnings before income tax,financial
results,depreciation and amortization
65.367
49.278
6.563 (2.953)
430
118.685
5. Interim Cash Flow Statement
The notes on pages 28 to 57 are an integral part of these financial statements.
6. Segment reporting
Primary reporting format – business segments
MYTILINEOS Group is active in three main operating business segments: Metallurgy, Constructions and Energy. In identifying its
operating segments, management generally follows the Group’s service lines, which represent the main products and services
provided by the Group. Each of these operating segments is managed separately as each of these service lines requires differ-
ent technologies and other resources as well as marketing approaches. The adoption of IFRS 8 has not affected the identified
operating segments for the Group compared to the recent annual financial statement.
The Group has applied IFRS 5 “Non Current Assets Available for Sale & Discontinued Operations” and present separately the
results of the discontinued operations of the subsidiary company SOMETRA S.A.
Segment’s results for the six month period ended June 30, 2016 and 2015 of the Group and the entity are as follows:
