44
45
Interim Financial Statements
MYTILINEOS GROUP
(Amounts in thousands
€
)
30/06/2016
31/12/2015
Raw materials
53.120
136.754
Semi-finished products
1.255
1.260
Finished products
18.612
19.157
Work in Progress
28.866
31.565
Merchandise
8.125
5.625
Others
41.624
47.347
Total
151.603
241.708
(Less)Provisions for scrap, slow moving and/or destroyed inventories:
(2.432)
(2.432)
Total Stock
149.171
239.276
MYTILINEOS GROUP
MYTILINEOS S.A.
(Amounts in thousands
€
)
30/06/2016
31/12/2015
30/06/2016
31/12/2015
Cash
1.581
1.640
13
32
Bank deposits
197.523
115.640
1.023
1.217
Time deposits & Repos
73.948
83.579
-
-
Total
273.053
200.859
1.036
1.249
The weighted average interest rate is as:
30/06/2016
31/12/2015
Deposits in Euro
0,11%
0,32%
MYTILINEOS GROUP
MYTILINEOS S.A.
(Amounts in thousands
€
)
30/06/2016
31/12/2015
30/06/2016
31/12/2015
Long-term debt
Bank loans
10.141
2.278
-
-
Bonds
432.473
402.000
5.250
-
Total
442.614
404.278
5.250
-
Short-term debt
Overdraft
134.687
64.402
45.180
17.245
Bank loans
65.444
46.620
-
-
Bonds
-
55.000
-
-
Total
200.132
166.023
45.180
17.245
Current portion of non-current liabilities
166.707
157.235
5.250
7.130
Total
809.453
727.536
55.680
24.375
8.9 Stock
On 31/12/2015 Group stock related to EPC equipment hadn’t been delivered and valuated. This equipment delivered and valuated during
the reported period of six months 2016.
8.10 Cash and Cash equivalents
8.11 Loans
8.12 Discontinued operations
From 2011 and on, by applying par. 13 of IFRS 5 “Non-current assets Held for Sale”, the Zinc-Lead production ceases to be
an asset held for sale and is considered as an asset to be abandoned. The assets of the disposal group to be abandoned are
presented within the continuing operations while the results as discontinued operations.
In December 2015, SOMETRA S.A., contributed the Zinc-Lead activity, through a spin – off process, to its newly established
subsidiary Reycom Recycling S.A. (REYCOM). The said spin - off is part of the “Mytilineos Group” restructuring process, regard-
ing the Zinc-Lead discontinued operation, targeting on the production of Zn & Pb oxides through the development of a recycling
operation of metallurgical residues.
(Amounts in thousands
€
)
1/1-30/06/2016
1/1-30/06/2015
Sales
-
3.114
Cost of sales
(0)
(2.926)
Gross profit
-
188
Other operating income
338
916
Distribution expenses
(41)
(389)
Administrative expenses
(410)
(973)
Other operating expenses
(408)
(646)
Earnings before interest and income tax
(520)
(905)
Financial expenses
(9)
(20)
Profit before income tax
(529)
(925)
Profit for the period
(529)
(925)
8.13 Encumbrances
Group’s assets are pledged for an amount of
€
699,9 m as bank debt collateral.
8.14 Commitments
Group’s commitments due to construction contracts are as follows:
MYTILINEOS GROUP
(Amounts in thousands
€
)
30/06/2016
31/12/2015
Commitments from construction contracts
Value of pending construction contracts
1.091.677
1.190.714
Granted guarantees of good performance
318.500
351.041
Total
1.410.177
1.541.755
