127
126
Annual Financial Statements
Starting with the year 2011 and in accordance with paragraph 5 of
Article 82 of Law 2238/1994, the Group companies whose financial
statements are audited by mandatory statutory auditor or audit firm,
under the provisions of Law 2190/1920, are subject to a tax audit by
statutory auditors or audit firms and receives annual Tax Compliance
Certificate. In order to consider that the fiscal year was inspected by
the tax authorities, must be applied as specified in paragraph 1a of
Article 6 of POL 1159/2011.
For the fiscal years 2012 and 2013, the Group companies which were
subject to tax audit by statutory auditors or audit firm, under para.5
Article 82 of Law 2238/1994, received a Tax Compliance Certificate
free of disputes in 2013 and 2014 accordingly.
For fiscal year 2014, the tax audit which is being carried out by the au-
ditors are not expected to result in a signifi-
cant variation in tax liabilities incorporated
in the financial statements. To conclude
with, tax audit for the Parent Company My-
tilineos S.A. is being carried out by the rel-
evant financial authorities, for the financial
years 2007-2010. In the meanwhile, for the
parent company Mytilineos S.A and for the
fiscal years 2007-2010 the tax audit is be-
ing carried out by the relevant authorities
of Ministry of Finance. The Company has
adequate provisions to offset against dif-
ferences that may arise from said tax audit
of the years 2007-2010.
4.23 Earnings per share
Basic earnings per share are calculated by dividing net profit for the year attributable to shareholders by the weighted
average number of ordinary shares in issue during the year.
MYTILINEOS GROUP
MYTILINEOS S.A.
(Amounts in thousands
€
)
1/1-31/12/2014 1/1-31/12/2013
1/1-31/12/2014 1/1-31/12/2013
Equity holders of the parent
64,890
15,910
(2,224)
(13,502)
Weighted average number of shares
116,916
112,965
116,916
112,965
Basic earnings per share
0.5550
0.1408
(0.0190)
(0.1195)
Continuing Operations (Total)
Equity holders of the parent
65,149
16,112
(2,224)
(13,502)
Weighted average number of shares
116,916
112,965
116,916
112,965
Basic earnings per share
0.5572
0.1426
(0.0190)
(0.1195)
Discontinuing Operations (Total)
Equity holders of the parent
(259)
(202)
Weighted average number of shares
116,916
112,965
Basic earnings per share
(0.0022)
(0.0018)
4.24 Cash flows from operating activities
MYTILINEOS GROUP
MYTILINEOS S.A.
(Amounts in thousands
€
)
1/1-31/12/2014 1/1-31/12/2013
1/1-31/12/2014 1/1-31/12/2013
Cash flows from operating activities
Profit for the period
113,667
60,725
(2,224)
(13,502)
Adjustments for:
Tax
22,643
13,058
(2,504)
(2,406)
Depreciation of property,plant and equipment
52,789
62,526
323
305
Depreciation of intangible assets
6,847
5,272
61
155
Impairments
1,970
13,609
-
29,235
Provisions
(3,486)
(5,008)
-
-
Income from reversal of prior year’s provisions
(118)
(786)
-
-
Profit/Loss from sale of tangible assets
(137)
2,029
2
-
Profit/Loss from fair value valuation of
investment property
3,075
(21,090)
-
(21,294)
Profit/Loss from fair value valuation of
derivatives
-
124
-
-
Profit/Loss from fair value valuation of financ.
assets at fair value through PnL
1,988
1,144
(150)
(81)
Profit from sale of financial assets at fair value
(5,894)
2
-
2
Interest income
(9,171)
(4,930)
(102)
(374)
Interest expenses
60,438
62,335
20,118
17,056
Dividends
(4)
(59)
(7,797)
(7,298)
Grants amortization
(2,576)
(687)
-
-
Profit from company acquisition
-
-
-
-
Parent company’s portion to the profit of
associates
191
1,532
-
-
Exchange differences
(16,662)
881
(3,155)
1,017
Other differences
(12)
(200)
-
-
111,880
129,754
6,796
16,317
Changes in Working Capital
(Increase)/Decrease in stocks
(24,897)
23,374
-
-
(Increase)/Decrease in trade receivables
146,189
1,693
14,399
4,139
(Increase)/Decrease in other receivables
(450)
(975)
-
-
Increase / (Decrease) in liabilities
(104,892)
17,864
(15,621)
58,002
Provisions
6
17
-
-
Pension plans
(1,627)
(2,999)
34
13
14,330
38,974
(1,189)
62,153
Cash flows from operating activities
239,878
229,453
3,384
64,968
