114
115
Annual Financial Statements
The Company does not manage its capital on Company level but only on a Group level.
During the reporting period 2015 the Group proceeded with restructuring of existing borrowings in order to extent
maturity.
4.32 Dividend Proposed and Payable
The BOD will not propose to the General Assembly of the Shareholders (GA) the distribution of dividend.
4.33 Number of employees
The number of employees at 31/12/2015 amounts to 1.853 for the Group and to 72 for the Entity. Accordingly, at 31/12/2014, the
number of employees amounted to 1.807 and 73.
MYTILINEOS GROUP
(Amounts in thousands
€
)
31/12/2015
Level 1
Level 2
Level 3
Financial Assets
Financial assets at fair value through profit or loss
Stock Shares
1,020
1,020
-
-
Bank Bonds
57
57
-
-
Financial Assets Available For Sale
2,253
2,132
8
112
Financial Assets
3,330
3,209
9
112
Financial Liabilities
Foreign Exchange Swap Contracts (Swaps)
-
-
3,198
-
Foreign Exchange Contracts For Cash Flow Hedging (Forward)
1
-
1
-
Foreign Exchange Contracts (Forward)
(11)
-
(11)
-
Options
205
-
205
-
Financial Liabilities
3,392
-
3,392
-
MYTILINEOS GROUP
(Amounts in thousands
€
)
31/12/2014
Level 1
Level 2
Level 3
Financial Assets
Financial assets at fair value through profit or loss
Stock Shares
3,025
3,025
-
-
Bank Bonds
55
55
-
-
Financial Assets Available For Sale
507
364
31
112
Foreign Exchange Contracts For Cash Flow Hedging (Forward)
555
-
555
-
Financial Assets
4,142
3,444
586
112
Financial Liabilities
Foreign Exchange Swap Contracts (Swaps)
3,655
-
3,655
-
Foreign Exchange Contracts For Cash Flow Hedging (Forward)
404
-
404
-
Options
890
-
890
-
Financial Liabilities
4,949
-
4,949
-
MYTILINEOS S.A.
(Amounts in thousands
€
)
31/12/2015
Level 1
Level 2
Level 3
Financial Assets
Financial assets at fair value through profit or loss
Stock Shares
93
93
-
-
Bank Bonds
57
57
-
-
Financial Assets Available For Sale
112
-
-
112
Financial Assets
262
150
-
112
MYTILINEOS S.A.
(Amounts in thousands
€
)
31/12/2014
Level 1
Level 2
Level 3
Financial Assets
Financial assets at fair value through profit or loss
Stock Shares
526
526
-
-
Bank Bonds
55
55
-
-
Financial Assets Available For Sale
112
-
-
112
Financial Assets
693
581
-
112
In the financial year 2015 there existed no transfer between levels 1 and 2.
4.31 Capital Management
The primary objective of the Group’s capital management is to ensure the continuous smooth operation of its business activities
and the achievement of its growth plans combined with an acceptable credit rating. For the purpose of capital management,
the Group monitors the ratios “Net Debt to EBITDA” and “Net Debt to Equity”. As net debt, the Group defines interest bearing
borrowings minus cash and cash equivalents. The ratios are managed in such a way in order to ensure the Group a credit rating
compatible with its strategic growth.
The table below presents ratio results for the years December 31, 2015 and 2014 respectively:
MYTILINEOS GROUP
31/12/2015
31/12/2014
(Amounts in thousands
€
)
Long-term debt
404,278
524,023
Short-term debt
166,023
120,748
Current portion of non-current liabilities
157,235
42,090
Cash and cash equivalents
(200,859)
(313,428)
Group Net debt
526,675
373,434
Oper.Earnings before income tax, financial results, depreciation and
amortization
234,373
253,943
Equity
1,230,338
1,161,226
Group Net debt / Oper.Earnings before income tax, financial results,
depreciation and amortization
2.25
1.47
Group Net debt / Equity
0.43
0.32
