106
107
Annual Financial Statements
MYTILINEOS GROUP
MYTILINEOS S.A.
(Amounts in thousands
€
)
31/12/2015
31/12/2014
31/12/2015
31/12/2014
Income Tax
22,163
20,269
-
-
Income Tax provision
1,164
(523)
760
-
Deferred taxation
4,008
1,887
(2,194)
(2,504)
Extraordinary Income Tax
102
57
-
-
Other Taxes
941
953
-
-
Total
28,379
22,643
(1,434)
(2,504)
Earnings before tax
108,791
136,311
(1,705)
(4,728)
Nominal Tax rate
0.29
0.26
-
-
Tax calculated at the statutory tax rate of 26%
31,549
35,566
-
-
Nominal Tax Rate Adjustments - Change in Greek Tax Rate
(744)
-
(1,741)
-
Nominal Tax Rate Difference in foreign Subsidiary Companies
(4,428)
(1,236)
-
-
Non taxable income
(11,419)
(36,383)
-
-
Tax on Non taxable reserves
-
(77)
-
-
Non tax deductible expenses
13,350
12,812
-
-
Income tax from land - plot & buildings
941
946
-
-
Other taxes
68
-
-
-
Income tax coming from previous years
2,138
6,956
760
-
Extraordinary Income Tax
104
57
-
-
Other
(3,180)
4,002
(452)
(2,504)
Effective Tax Charge
28,379
22,643
(1,434)
(2,504)
MYTILINEOS GROUP
MYTILINEOS S.A.
(Amounts in thousands
€
)
1/1-31/12/2015 1/1-31/12/2014
1/1-31/12/2015 1/1-31/12/2014
Equity holders of the parent
47,548
64,890
(271)
(2,224)
Weighted average number of shares
116,916
116,916
116,916
116,916
Basic earnings per share
0,4067
0,5550
(0,0023)
(0,0190)
Continuing Operations (Total)
Equity holders of the parent
52,261
65,149
(271)
(2,224)
Weighted average number of shares
116,916
116,916
116,916
116,916
Basic earnings per share
0,4470
0,5572
(0,0023)
(0,0190)
Discontinuing Operations (Total)
Equity holders of the parent
(4,713)
(259)
Weighted average number of shares
116,916
116,916
Basic earnings per share
(0,0403)
(0,0022)
4.22 Income tax
Income tax for the Group and Company differs from the theoretical amount that
would result using the nominal tax rate prevailing at year end over the accounting
profits. The reconciliation of this difference is analysed above.
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 an-
nual 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 year 2012 and 2013, the Group companies which were subject to
tax audit by statutory auditors or audit firm, received a Tax Compliance Certificate
free of disputes in 2013 and 2014 accordingly.
For the 2014 tax audit, the companies of the Group
which operate in Greece have been subjected to a
tax audit by Sworn Auditors according to article 65A
par. 1 of law 4174/2013 and of law 4262/2014. Said
tax audit has been completed during 2015 and the
tax certificates were distributed by the statutory au-
ditors.
For fiscal year 2015, the tax audit which is being car-
ried out by the auditors is not expected to result in
a significant variation in tax liabilities incorporated in
the financial statements.
The tax audit for the parent company Mytilineos S.A.
for the fiscal years 2007-2010 has been completed
by the relevant authorities of Ministry of Finance. The
differences that arose from said tax audit amounts
to
€
760k.
4.23 Earnings per share
Basic earnings per share are calculated by the weighted average number of ordinary shares.
