77
76
Annual Financial Statements
Notes on the Financial Statements
1. Information about MYTILINEOS HOLDINGS S.A.
78
1.1 General Information
78
1.2 Nature of activities
78
2. Basis for preparation of the financial statements
78
3. Basic accounting principles
79
3.1 New and amended accounting standards and interpretations of IFRIC
79
3.2 Consolidation
82
3.3 Segment reporting
83
3.4 Foreign currency translation
83
3.5 Tangible assets
83
3.6 Intangible assets
84
3.7 Impairment of Assets
85
3.8 Important accounting decisions, estimations and assumptions
85
3.8.1 Accounting decisions
85
3.8.2 Assumptions and estimations
86
3.9 Accounting Policy change
87
3.10 Group Structure
89
3.10.1 Foundation & Acquisition
91
3.10.2 Sale and other changes
91
3.11 Significant information
94
3.12 Financial instruments
95
3.13 Inventories
96
3.14 Trade receivables
97
3.15 Cash and cash equivalents
97
3.16 Non-current assets classified as Held for sale
97
3.17 Share capital
97
3.18 Income tax & deferred tax
97
3.19 Employee benefits
98
3.20 Grants
99
3.21 Provisions
99
3.22 Recognition of income and expenses
99
3.23 Leases
99
3.24 Construction contracts
100
3.25 Dividend distribution
100
3.26 Proforma figure “Operating Earnings before Financial & Investment results,
Tax, Depreciation & Amortization” (Group EBITDA)
101
3.27 CO2 emission Liability
101
3.28 Hedging Accounting
101
4. Notes on the financial Statements
102
4.1 Tangible assets
102
4.2 Goodwill
104
4.3 Intangible Assets
105
4.4 Investments in affiliated companies
106
4.5 Defereed tax
107
4.6 Inventories
110
4.7 Other recievables
110
4.8 Financial assets & liabilities
111
4.8.1 Financial Assets available for sale
111
4.8.2 Financial assets at fair value through profit or loss
112
4.8.3 Derivatives financial instuments
112
4.8.4 Other long-term receivables
112
4.8.5 Loan liabilities
113
4.8.6 Other long34.9 Customers and other trade receivables
114
4.10 Cash and cash equivalents
115
4.11 Suppliers and other liabilities
115
4.12 Other short-term liabilities
115
4.13 Total Equity
116
4.13.1 Share capital
116
4.13.2 Reserves
116
4.14 Employee benefit liabilities
118
4.15 Provisions
120
4.16 Current tax liabilities
122
4.17 Cost of goods sold
122
4.18 Administrative & Distribution Expenses
123
4.19 Other operating income / expenses
124
4.20 Financial income / expenses
124
4.21 Other financial results
125
4.22 Income tax
125
4.23 Earnings per share
126
4.24 Cash flows from operating activities
127
4.25 Discontinued Operations
128
4.26 Sale of Treasury Shares
128
4.27 Encumbrances
129
4.28 Commitments
129
4.29 Leases
129
4.30 Financial Risk Factors
129
4.30.1 Market Risk
130
4.30.2 Credit Risk
131
4.30.3 Liquidity Risk
131
4.31 Fair Value Measurements
133
4.32 Capital Management
134
4.33 Dividend Proposed and Payable
134
4.34 Number of employees
134
4.35 Related Party transactions
136
4.36 Contingent assets & contingent liabilities
137
4.36.1 Disclosures related to contingent liabilities
137
4.36.2 Other contingent assets & liabilities
139
4.37 Post Balance Sheet events
141
