TOOLUX SANDING S.A
Registered office: 3B, Boulevard du Prince Henri
L-1724 LUXEMBOURG
R.C.S Luxembourg B-142.041
Unaudited Consolidated Interim
Financial Statements for the period
From January 1, 2020 until June 30, 2020
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(euros)
TOOLUX SANDING SA
ITEMS
From January 1, 2020 to June 30,2020
From January 1, 2019 to December 31,2019
From January 1, 2019 to June 30,2019
SALES OF MAIN OPERATIONS
3 829 548
16 078 278
5 408 983
Less:cost of main operations
-2 753 059
-13 516 636
-3 549 194
GROSS PROFIT
1 076 489
2 561 642
1 859 789
Add: Income from other operations
33 840
178 013
97 600
Less: Selling expenses
-124 837
-300 824
-316 591
Less: General and administrative expenses
-886 123
-2 509 299
-1 354 207
Less: Financial expenses
-461 776
-858 551
-697 650
OPERATING INCOME
-362 407
-929 019
-411 059
Investment income(loss expressed with "-")
30 465
-3 582 724
3 369
Non-operating income
3 860
86 400
76 720
Less:Sales tax and additions
-30 884
-36 331
-20 891
Less:Non-operating expenses
-265
-12 542
-11 514
PROFIT BEFORE TAX (LOSS EXPRESSED WITH "-")
-359 231
-4 474 216
-363 375
Less: Income tax
-7 583
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-359 231
-4 481 799
-363 375
PROFIT PER SHARE (BASIC AND DILUTED)
-0,20
-2,56
-0,21
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(euros)
From January 1, 2020 to June 30, 2020
TOOLUX SANDING SA
ITEMS | June 30, 2020 | December 31,2019 | June 30, 2019 |
NON CURRENT ASSETS : | |||
Property, plant and equipment | 9 085 214 | 9 197 128 | 17 359 100 |
Less:Accumulated depreciation | -6 038 006 | -5 917 396 | -6 500 017 |
Property, plant and equipment (net value) | 3 047 208 | 3 279 732 | 10 859 083 |
Construction in progress | 670 119 | ||
Intangible assets | 337 351 | 346 967 | 812 787 |
Long-term investment | 154 921 | 156 930 | 156 970 |
Long-term prepaid assets | 12 574 | 15 146 | 23 708 |
Deferred tax assets | |||
TOTAL NON CURRENT ASSETS | 3 552 054 | 3 798 775 | 12 522 667 |
CURRENT ASSETS: | |||
Inventories | 1 743 324 | 2 724 509 | 2 884 790 |
Trade debtors | 1 523 176 | 1 307 605 | 958 417 |
Other receivable | 7 060 636 | 7 007 949 | 7 368 443 |
Advances to suppliers | 4 526 649 | 4 634 812 | 5 820 722 |
Cash and cash equivalents | 6 443 159 | 5 904 951 | 7 200 807 |
TOTAL CURRENT ASSETS | 21 296 944 | 21 579 826 | 24 233 179 |
TOTAL ASSETS | 24 848 998 | 25 378 601 | 36 755 846 |
CURRENT LIABILITIES: | |||
Bank borrowings | 13 317 513 | 13 681 990 | 19 276 076 |
Notes payable | 1 262 323 | 1 534 821 | |
Trade creditors | 2 481 032 | 1 847 823 | 2 133 414 |
Advances received from customers | 60 148 | 610 406 | 833 630 |
Accrued payroll | 123 469 | 153 107 | |
Welfare benefits payable | 30 076 | 173 704 | 30 473 |
Taxes payable | 108 087 | 98 048 | 44 027 |
Other levies payable | 8 525 | 7 497 | 5 454 |
Other payable | 1 875 099 | 2 928 671 | 2 573 355 |
TOTAL CURRENT LIABILITIES | 19 266 272 | 19 348 139 | 26 584 357 |
OWNERS'/SHAREHOLDERS' EQUITY | |||
Subscribed capital | 1 753 667 | 1 753 667 | 1 753 667 |
Other reserves | 1 350 652 | 1 709 883 | 5 828 306 |
Exchange differences on translating foreign operations | 2 478 407 | 2 566 912 | 2 479 527 |
TOTAL OWNERS' EQUITY | 5 582 726 | 6 030 462 | 10 061 500 |
Non-controlling interests | 109 989 | ||
TOTAL LIABILITIES & OWNERS' EQUITY | 24 848 998 | 25 378 601 | 36 755 846 |
Toolux Sanding SA
Notes to the Consolidated Financial Statements for the six months period ended June 30, 2020
I.
General Information
The consolidated financial statements of Toolux Sanding SA ("the Company") and its subsidiaries
(collectively referred as "the Group") are prepared for the six months period ended June 30, 2020.
The registered office is located at 3B, boulevard du Prince Henri, L-1724 Luxembourg.
The company was incorporated on 2th October 2008 as a Société Anonyme with a fully paid share capital of Euros 350 000.
On 13th October 2008, the directors increased, by a contribution in kind, the capital of the Company by 1 000 000 euros to bring it from 350 000 euros to 1 350 000 euros by the issuance of 1 000 000 new shares with a nominal value of 1 euro each.
The contribution in kind was represented by 100 % of the share capital of Giant Dragon Holdings Ltd
(Samoa), a company incorporated in Samoa on 17th January 2007 with registered number 30466 and located at Level 2, Nia Mall, Vaea Street, Apia, Samoa. The contribution in kind value was based on
Giant Dragon Holdings Ltd net asset value as at June 30, 2008.
On December 17, 2008, in connection with the admission of the Company on Alternext Market of
Euronext Paris, the board of directors realized an increase of the issued share capital paid up in cash to bring it from 1 350 000 Euros to 1 753 667 Euros (1 753 667 shares of 1 euro each). The total amount of the contribution is five million eighty-two thousand one hundred and sixty seven Euros fifty three cents
(EUROS 5 082 167,53) represented by four hundred and three thousand six hundred and sixty seven Euros (403 667) for the capital and four million six hundred and seventy-eight thousand five hundred euro fifty three cents (4 678 500,53 Euros) for the share premium.
On December 2, 2008, the company acquired from Giant Dragon Holdings Ltd, for a consideration of 2 998 000 usd, 100 % of the share capital of Shaoxing Sanding Tools Ltd, a Chinese company with registered office at Industrial Park, Ganlin Town, Shenghzou City, Zhejiang Province, China.
The principal activities of Shaoxing Sanding Tools and of its subsidiary, Zhejiang Sanding Tools are the manufacturing and selling of plastic and metal tools.
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Toolux Sanding SA published this content on 19 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 March 2021 06:07:01 UTC.