STS GROUP AG Annual financial statements of STS Group AG
as of 31 December 2023
STS Group AG
Annual financial statements as of 31 December 2023
This is a translation of the German "Jahresabschluss der STS Group AG zum
31. Dezember 2023", sole authoritative and universally valid version is the German language document.
2
STS Group AG
Annual financial statements as of 31 December 2023
INCOME STATEMENT
FROM JANUARY 1 TO DECEMBER 31, 2023
in kEUR | 2023 | 2022 |
- Revenues
- Other operating income
- Personnel expenses
- Wages and salaries
- Social security, post-employment and other employment benefit costs
- Ammortization of intangible assets and depreciation of tangible assets
-
Other operating expenses
(thereof expenses from currency translation) - Income from equity investments
(thereof from affiliated companies) - Income from loans of financial assets
(thereof from affiliated companies) - Othere interest and similar income
(thereof from affiliated companies) - Interest and similar expenses
(thereof from affiliated companies) - Taxes on income
- Profit after taxes in income
- Other taxes
- Net profit / loss for the year
- Retained accumulated losses carried forward
- Accumulated gain carried forward
185
496
-142
-18
-39
-3.896
-1
3.949
3.949
1
1
135
135
-575
-575
0
96
0
96
2.235
2.331
197
126
-236
-25
-39
-3.531
-43
6.262
6.260
1
1
40
40
-246
0
-314
2.235
0
2.235
0
2.235
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STS Group AG
Annual financial statements as of 31 December 2023
BALANCE SHEET
AS OF DECEMBER 31, 2023
in kEUR | December 31, 2023 | December 31, 2022 |
Assets
-
Fixed Assets
I. Intangible Assets
Concessions, industrial property rights and similar rights and assets acquired against payment, as well as licenses to such rights and assets
- Financial Assets
- Shares in affiliated companies
- Loans to affiliated companies
B. Currents Assets
- Receivables and other assets
- Receivables from deliveries and services
- Receivables from affiliated companies
- Other assets
II. Cash and cash equivalents
C. Prepaid expenses
Total assets
36
19.065
32
19.097
19.133
0
7.957
34
23
8.014
9
27.156
76
19.065
31
19.096
19.172
10
3.406
16
458
3.890
7
23.068
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STS Group AG Annual financial statements as of 31 December 2023
in kEUR
EQUITY AND LIABILITIES
- Share equity
-
Subscribed capital Calculated value Own shares Issued capital
Contingent capital
-
Subscribed capital Calculated value Own shares Issued capital
December 31, 2023
6.500
-50
6.450
(2.500)
December 31, 2022
6.500
-50
6.450
(2.500)
II. | Treasury shares | 6.193 |
- Capital Reserve
1. | Legal Reserve | 5 | |
2. | Legal Reserve | 1.115 | |
IV. | Accumulated gains carried forward | 2.331 | |
16.094 | |||
B. Provisions | |||
Other provisions | 727 | ||
727 | |||
C. Liabilities | |||
1. | Trada payables | 190 | |
2. | Liabilities from affiliated companies | 10.142 | |
3. | Other liabilities | 3 | |
10.336 | |||
Total equity and liabilities | 27.156 |
6.193
5
1.115
2.235
15.998
643
643
70
3.054
3.304
6.428
23.068
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STS Group AG
Annual financial statements as of 31 December 2023
Notes to the annual financial statements for STS Group AG as of 31 December 2023
Contents
3.3 | Receivables and other assets | 11 | |
3.4 | Cash at banks | 11 | |
3.5 | Prepaid expenses and deferred charges | 11 | |
3.6 | Equity | 12 | |
3.7 | Provisions | 17 | |
3.8 | Liabilities | 17 | |
4. Notes to the income statement | 17 | ||
4.1 | Sales revenue | 17 | |
4.2 | Other operating income | 17 | |
4.3 | Personnel expenses | 18 | |
4.4 | Depreciation and amortisation | 18 | |
4.5 | Other operating expenses | 18 | |
4.6 | Income from investments | 18 | |
4.7 | Financial income and financial expenses | 19 | |
4.8 | Income taxes | 19 | |
5. | Other information | 19 | |
5.1 | Auditor's fee | 19 | |
5.2 | Supervisory Board | 20 | |
5.3 | Board of Directors | 21 | |
5.4 | Other financial obligations and contingent liabilities | 22 | |
5.5 | Contingent liabilities | 22 | |
5.6 | Financial and liquidity risk | 23 |
5.7 Declaration of Conformity with the German Corporate Governance Code Section 161 AktG
23
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STS Group AG | ||
Annual financial statements as of 31 December 2023 | ||
5.8 | Group affiliation | 24 |
5.9 | Events after the balance sheet date | 26 |
5.10 | Proposal for the appropriation of earnings (Section 285 No. 34 HGB) | 26 |
Insurance of the legal representatives | 29 |
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STS Group AG
Annual financial statements as of 31 December 2023
1. General information
STS Group AG (hereinafter also referred to as the "Company") is a listed stock corporation domiciled in Germany with its registered office at Kabeler Strasse 4, 58099 Hagen. It is entered in the commercial register of Hagen Local Court under HRB 12420.
The majority shareholder of STS Group AG is Adler Pelzer Holding GmbH, Hagen, Germany. The company is listed in the General Standard segment of the Frankfurt Stock Exchange.
These annual financial statements of STS Group AG were prepared in accordance with Sections 242 et seq. and Sections 264 et seq. German Commercial Code ("HGB") and the supplementary provisions of the German Stock Corporation Act ("AktG"). The company is capital market-orientated in accordance with Section 264d HGB and is therefore considered a large company in accordance with Section 267
- sentence 2 HGB. The income statement was prepared using the nature of expense method in accordance with Section 275 (2) HGB. Some of the balance sheet notes are listed in the notes.
The annual financial statements were prepared in euros or thousands of euros (EUR thousand), unless otherwise stated. This may result in rounding differences of +/- EUR 1 thousand in some cases.
The financial year of the company is the calendar year.
2. Accounting and valuation principles
The company's financial statements were prepared unchanged in accordance with the following accounting policies and on a going concern basis (see section 5.6 Financial and liquidity risk for further details).
Purchased intangible assets are capitalised at cost and amortised on a straight-line basis over their expected useful life, pro rata temporis in the year of acquisition. If the fair value of individual intangible fixed assets is lower than their carrying amount, additional impairment losses are recognised if the impairment is expected to be permanent.
Financial assets are valued at acquisition cost. Write-downs to the lower fair value are recognised if the impairment is expected to be permanent.
Receivables and other assets are recognised at the lower of nominal value or fair value on the balance sheet date. Appropriate write-downs are recognised for receivables whose recoverability is subject to identifiable risks; uncollectible receivables are written off.
Bank balances are recognised at their nominal value on the balance sheet date.
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STS Group AG
Annual financial statements as of 31 December 2023
Payments made before the balance sheet date are recognised as prepaid expenses if they represent expenses for a specific period after this date.
Subscribed capital is recognised at nominal value.
Other provisions are measured according to prudent business judgement and recognised at their settlement amount.
Liabilities are recognised at their settlement amount.
Transactions in foreign currencies are generally recognised at the historical exchange rate at the time of initial recognition. Assets and liabilities denominated in foreign currencies with a remaining term of one year or less are translated at the mean spot exchange rate on the reporting date,
Deferred taxes are recognised on temporary differences between the carrying amounts of assets, liabilities and prepaid expenses and deferred income in the financial statements and their tax base, as well as on tax loss carryforwards. However, losses carried forward are only recognised to the extent that they can be offset against taxable income within the statutory period of five years. Deferred tax assets and liabilities are netted. Any resulting tax burden is recognised as a deferred tax liability in the balance sheet. In the event of tax relief, deferred tax assets are not recognised in accordance with the capitalisation option.
Revenue is recognised monthly at the time of recharging.
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STS Group AG
Annual financial statements as of 31 December 2023
3. Notes to the balance sheet
3.1 Intangible assets
As at 31 December 2023, intangible assets amounted to EUR 36 thousand (2022: EUR 76 thousand) and mainly comprise rights to use software acquired from third parties against payment. For further information on intangible assets, please refer to the statement of changes in non-current assets in Appendix 1 to the notes.
3.2 Financial assets
As at 31 December 2023, financial assets amounted to EUR 19,097 thousand (2022: EUR 19,096 thousand).
Shares in affiliated companies remained unchanged compared to 31 December 2022 and amount to EUR 19,065 thousand. The shares relate to the following companies:
Name and location
STS Plastics SAS, Paris, France
STS Composites France SAS, St. Désirat, France
MCR SAS, Tournon, France
STS Composites Germany GmbH, Kandel, Germany
Inoplast Truck S.A. de C.V., Ramos, Mexico
STS Plastics Co. Ltd., Jiangyin, China
STS Plastics Shi Yan, China
STS Group North America Inc., Dalware, USA
Result of the financial year 2023 in kEUR
1.176
3.593
57
-651
597
1.452
239
-3.751
Share capital 2023
in kEUR
6.500
8.398
4.969
-987
7.247
30.507
-569
-5.826
Capital shares as of
12/31/2023
100%
100%
100%
100%
100% 1)
100%
100% 2)
100%
- 0.02% of the shares in Inoplast Truck S.A. de C.V., Mexico are held indirectly by STS Plastics Holding SAS, France.
- 100% of the shares in STS Plastics Shi Yan, China are held indirectly by STS Plastics Co. Ltd, Jiangyin, China.
The figures are based on IFRS.
Loans to affiliated companies with a carrying amount of EUR 32 thousand (2022: EUR 31 thousand) consist of a long-term loan receivable from a subsidiary.
For further information on financial assets, please refer to the statement of changes in non-current assets in Appendix 1 to the Notes.
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STS Group AG published this content on 28 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 April 2024 13:23:03 UTC.
