36
37
Interim Financial Statements
(Amounts in thousands
€
)
Metallurgy Constructions Energy
Others Total Segment
30/06/2016
Assets
896.176
1.038.010
1.079.840
(97.354)
2.916.672
Consolidated assets
896.176
1.038.010
1.079.840
(97.354)
2.916.672
Liabilities
614.558
454.423
423.103
186.773
1.678.857
Consolidated liabilities
614.558
454.423
423.103
186.773
1.678.857
(Amounts in thousands
€
)
Metallurgy Constructions Energy
Others Total Segment
31/12/2015
Assets
829.855
1.097.607
1.064.840
(92.898)
2.899.404
Consolidated assets
829.855
1.097.607
1.064.840
(92.898)
2.899.404
Liabilities
637.178
509.848
384.327
137.713
1.669.066
Consolidated liabilities
637.178
509.848
384.327
137.713
1.669.066
MYTILINEOS GROUP
Sales
Sales
Non current assets Non current assets
(Amounts in thousands
€
)
30/06/2016
30/06/2015
30/06/2016
31/12/2015
Hellas
256.892
230.597
1.518.805
1.487.626
European Union
165.240
197.288
11.117
28.965
Other Countries
213.619
208.646
2.394
2.603
Regional Analysis
635.750
636.531
1.532.316
1.519.194
Segment’s assets and liabilities are as follows:
Geographical Information
The Group’s Sales and its non-current assets (other than financial instruments, investments, deferred tax assets and postemployment ben-
efit assets) are divided into the following geographical areas:
7. Information about MYTILINEOS HOLDINGS S.A.
MYTILINEOS Holdings S.A. is today one of the biggest industrial
Groups internationally, activated in the sectors of Metallurgy, EPC,
Energy, and Defence. The Company, which was founded in 1990 as
a metallurgical company of international trade and participations, is
an evolution of an old metallurgical family business which began its
activity in 1908.
Devoted to continuous growth and progress and aiming to be a leader
in all its activities, the Group promotes through its long presence its
vision to be a powerful and competitive European Group of “Heavy
Industry”.
The group’s headquarters is located in Athens – Maroussi (5-7 Pa-
troklou Str., P.C. 151 25) and its shares were listed in the Athens Stock
Exchange in 1995.
The financial statements for the period ended 30.06.2016 (along with
the respective comparative information for the previous year 2015),
were approved by the Board of directors on 2 August 2016.
8. Additional Information
8.1 Basis for preparation of the financial statements
The accompanying consolidated financial statements that constitute
the Group’s consolidated financial statements for the period from
01.01 to 30.06.2016 have been prepared in accordance with Interna-
tional Financial Reporting Standards (“IFRS”), adopted by the Europe-
an Union, and more specifically with the provisions of IAS 34 “Interim
financial reporting”. Moreover, the consolidated financial statements
have been compiled on the basis of the historic cost principle as is
amended by the readjustment of specific asset and liability items into
market values, the going concern principle and are in accordance with
the International Financial Reporting Standards (IFRS) that have been
issued by the International Accounting Standards Board (IASB) and
their interpretations that have been issued by the International Finan-
cial Reporting Interpretations Committee (IFRIC) of the IASB.
The reporting currency is Euro (currency of the country of the domicile
of the parent Company) and all amounts are reported in thousands
unless stated otherwise.
According to the IFRS, the preparation of the Financial Statements re-
quires estimations during the application of the Company’s account-
ing principles. Important admissions are presented wherever it has
been judged appropriate. The accounting principles, applied by the
Group for the reporting period are consistent with the accounting prin-
ciples applied for fiscal year 2015.
8.2 New Standards, Interpretations, Revisions and
Amendments to existing Standards that are effective
and have been adopted by the European Union
The following amendments of IFRSs have been issued by the Interna-
tional Accounting Standards Board (IASB), adopted by the European
Union, and their application is mandatory from or after 01/01/2016.
Amendments to IFRS 11: “Accounting for Acquisitions of Inter-
ests in Joint Operations” (effective for annual periods starting
on or after 01/01/2016)
In May 2014, the IASB issued amendments to IFRS 11. The amend-
ments add new guidance on how to account for the acquisition of an
interest in a joint operation that constitutes a business and specify the
appropriate acounting treatment for such acquisitions. The amend-
ments do not affect the consolidated Financial Statements.
Amendments to IAS 16 and IAS 38: “Clarifica-
tion of Acceptable Methods of Depreciation
and Amortisation” (effective for annual periods
starting on or after 01/01/2016)
In May 2014, the IASB published amendments to
IAS 16 and IAS 38. IAS 16 and IAS 38 both establish
the principle for the basis of depreciation and amor-
tisation as being the expected pattern of consump-
tion of the future economic benefits of an asset. The
IASB has clarified that the use of revenue-based
methods to calculate the depreciation of an asset
is not appropriate because revenue generated by
an activity that includes the use of an asset gener-
ally reflects factors other than the consumption of
the economic benefits embodied in the asset. The
amendments do not affect the consolidated Finan-
cial Statements.
Amendments to IAS 16 and IAS 41: “Agricul-
ture: Bearer Plants” (effective for annual peri-
ods starting on or after 01/01/2016)
In June 2014, the IASB published amendments that
change the financial reporting for bearer plants. The
IASB decided that bearer plants should be account-
ed for in the same way as property, plant and equip-
ment in IAS 16. Consequently, the amendments
include bearer plants within the scope of IAS 16,
instead of IAS 41. The produce growing on bearer
plants will remain within the scope of IAS 41. The
amendments do not affect the consolidated Finan-
cial Statements.
Amendments to IAS 27: “Equity Method in
Separate Financial Statements” (effective for
annual periods starting on or after 01/01/2016)
In August 2014, the IASB published narrow scope
amendments to IAS 27. Under the amendments,
entities are permitted to use the equity method to
account for investments in subsidiaries, joint ven-
tures and associates in their separate Financial
Statements – an option that was not effective prior
to the issuance of the current amendments. The
amendments do not affect the consolidated Finan-
cial Statements.
Annual Improvements to IFRSs – 2012-2014
Cycle (effective for annual periods starting on
or after 01/01/2016)
In September 2014, the IASB issued Annual Im-
provements to IFRSs - 2012-2014 Cycle, a collection
of amendments to IFRSs, in response to four issues
addressed during the 2012-2014 cycle. The amend-
ments are effective for annual periods beginning on
or after 1 January 2016, although entities are permit-
ted to apply them earlier. The issues included in this
cycle are the following: IFRS 5: Changes in methods
of disposal, IFRS 7: Servicing Contracts and Appli-
cability of the amendments to IFRS 7 to condensed
interim financial statements, IAS 19: Discount rate:
regional market issue, and IAS 34: Disclosure of in-
formation “elsewhere in the interim financial report”.
The amendments do not affect the consolidated Fi-
nancial Statements.
