SAVENCIA FROMAGE & DAIRY
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of June 30, 2013Notes | Six months ended June 30 | ||
In thousands of euro | |||
2013 | 2012 restated | ||
NET SALES | 2 | 2,048,391 | 1,979,729 |
Purchases adjusted for changes in inventory | -1,300,853 | -1,262,657 | |
Personnel costs | -395,953 | -383,059 | |
Depreciation and amortization | -53,285 | -54,754 | |
Other current operating expenses | -208,985 | -199,548 | |
CURRENT OPERATING PROFIT | 2 | 89,315 | 79,711 |
Other operating expenses | 3 | -24,531 | -9,675 |
Other operating income | 3 | 2,731 | 954 |
OPERATING PROFIT | 67,515 | 70,990 | |
Financial expense | 4 | -19,672 | -22,086 |
Financial income | 4 | 8,789 | 9,605 |
Group share of results of associates | 4,019 | 4,571 | |
PROFIT BEFORE TAX | 60,651 | 63,080 | |
Income tax expense | 5 | -32,160 | -22,428 |
Net income from continuing operations | 28,491 | 40,652 | |
Net loss for discontinued operations | 1.2 | -22 | -22 |
Net income | 28,469 | 40,630 | |
Net income attributable to equity holders of the parent company | 24,443 | 36,436 | |
Non-controlling interests | 4,026 | 4,194 | |
Earnings per share (€) | |||
Attributable to equity holders of the parent company: | |||
- basic | 1.75 | 2.57 | |
- diluted | 1.70 | 2.50 | |
For continuing operations: | |||
- basic | 1.75 | 2.57 | |
- diluted | 1.70 | 2.50 | |
With effect from January 1, 2013 the Group has applied (retroactively from January 1, 2012) IAS 19 (amended), Employee Benefits. The financial statements for 2012 have therefore been restated in accordance with the new standard as described in note 17.
The notes on pages 7 to 22 are an integral part of the summary consolidated interim financial statements.
In thousands of euro | Notes | Six months ended June 30 | |
2013 | 2012 restated | ||
NET INCOME | 28,469 | 40,630 | |
Other comprehensive income: | |||
Translation differences | -7,885 | 4,736 | |
Change in fair value of available-for-sale financial assets | 464 | -148 | |
Change in fair value of cash flows (1) | -1,870 | 23 | |
Total recyclable components of other comprehensive income | -9,291 | 4,611 | |
Actuarial gains and losses on post-employment benefit plans (IAS19) | 2,570 | -5,502 | |
Other changes (2) | -1,616 | ||
Total non-recyclable components of other comprehensive income | 2,570 | -7,118 | |
Total other comprehensive income net of tax | 9 | -6,721 | -2,507 |
TOTAL COMPREHENSIVE INCOME NET OF TAX | 21,748 | 38,123 | |
Group share | 17,911 | 34,760 | |
Non-controlling interests | 3,837 | 3,363 | |
Mainly relating to hedging of interest rates and raw materials
For 2012, relates to IFRS adjustments in respect of an associate
The notes on pages 7 to 22 are an integral part of the summary consolidated interim financial statements.
In thousands of euro | Notes | ||
ASSETS | 06/30/2013 | 12/31/2012 restated | |
Intangible assets | 7 | 430,199 | 423,810 |
Property, plant and equipment | 7 | 741,741 | 744,336 |
Other financial assets | 33,674 | 44,401 | |
Investments in associates | 136,733 | 133,534 | |
Non-current derivative financial instruments | 3,875 | 1,517 | |
Deferred tax assets | 80,861 | 93,221 | |
TOTAL NON-CURRENT ASSETS | 1,427,083 | 1440,819 | |
Inventories and work in progress | 8 | 463,154 | 368,538 |
Trade and other receivables | 691,537 | 731,696 | |
Tax credits | 13,129 | 14,234 | |
Derivative financial instruments | 5,281 | 6,154 | |
Other current financial assets | 13 | 62,810 | 72,837 |
Cash and cash equivalents | 14 | 531,085 | 416,820 |
TOTAL CURRENT ASSETS | 1,766,996 | 1,610,279 | |
Assets held for sale | 1.2 | 1,241 | 1,283 |
TOTAL ASSETS | 3,195,320 | 3,052,381 |
In thousands of euro | Notes | ||
EQUITY AND LIABILITIES | 06/30/2013 | 12/31/2012 restated | |
Paid-in capital | 34,833 | 33,091 | |
Other reserves | 10 | -16,407 | ,-9,875, |
Retained earnings | 1,079,863 | 1,089,415 | |
GROUP SHARE OF EQUITY | 1,098,289 | 1,112,631 | |
Non-controlling interests | 62,220 | 66,231 | |
TOTAL EQUITY | 1,160,509 | 1,178,862 | |
Provisions | 11 | 94,928 | 100,036 |
Non-current bank borrowings | 12 | 431,058 | 455,397 |
Other non-current liabilities | 22 | 21 | |
Non-current derivative financial instruments | 5,511 | 2,679 | |
Deferred tax liabilities | 113,456 | 114,454 | |
TOTAL NON-CURRENT LIABILITIES | 644,975 | 672,587 | |
Trade and other payables | 803,042 | 821,996 | |
Income tax payable | 16,110 | 13,019 | |
Derivative financial instruments | 1,907 | 2,035 | |
Bank borrowings | 12 | 568,486 | 363,586 |
TOTAL CURRENT LIABILITIES | 1,389,545 | 1,200,636, | |
Liabilities held for sale | 1.2 | 291 | 296 |
TOTAL LIABILITIES | 2,034,811 | 1,873,519 | |
TOTAL EQUITY AND LIABILITIES | 3,195,320 | 3,052,381 |
The notes on pages 7 to 22 are an integral part of the summary consolidated interim financial statements.
SAVENCIA SA published this content on 16 November 2016 and is solely responsible for the information contained herein.
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