SUMMARY OF FINANCIAL DATA

INCOME STATEMENT

Income Statement (in € m)20182019202020212022
Sales538.4575.9462.7592.2402.7
Gross Profit31.242.653.231.620.9
Other Income & Write-Offs-14.3-26.2-17.1-15.7-6.5
Administrative & General Expenses-36.6-42.5-33.3-33.8-41.0
Income from Associates31.930.821.831.247.4
EBITDA49.458.162.351.058.2
Depreciation10.616.315.317.012.6
Financial Results-32.8-26.8-24.3-22.3-20.7
PreTax Earnings-8.3-11.27.10.018.5
Net Earnings -24.5-17.610.52.012.9

BALANCE SHEET

Balance Sheet (in € m)20182019202020212022
Fixed Assets (incl. Restricted Deposits)588.3586.3598.5487.1464.3
Inventory26.919.139.625.821.3
Assets for sale6.1404.40.0150.385.1
Receivables from Clients429.4404.8489.7419.2419.2
Restricted Deposits (short-term)0.049.032.713.91.9
Cash Equivalent65.771.150.5100.284.8
Total Assets1,116.41,534.71,211.01,196.41,076.5
Long-Term Debt475.7515.4510.7383.2292.6
Other Long-Term Liabilities67.557.363.655.752.3
Suppliers & Other Short-Term Liabilities365.7407.4440.5386.5424.0
Short-Term Debt119.775.7104.1112.490.2
Liabilities from Assets for Sale0.0400.70.0148.362.4
Shareholder Funds87.878.392.0110.4154.9
Total Liabilities1,116.41,534.71,211.01,196.41,076.5

CASH FLOW

Cash Flow (in € m)20182019202020212022
Pre Tax Earnings-10.2-11.22.9-13.646.3
Depreciation10.616.315.317.012.6
Other Operating Cash Flows-25.5%20.20.9-2.5-66.0
Change in Working Capital5.694.5-89.048.9-7.3
Operating Cash Flow-19.5119.7-69.949.9-14.4
Net Movement in Investments-31.7-25.0-2.140.5111.2
Dividend Received41.145.538.931.746.7
Net Investment Cash Flow9.420.536.772.2157.9
Free Cash Flow-10.1140.2-33.2122.1143.5
Financing Cash Flow2.3-140.6-3.6-89.8-163.4
Total Cash Flow-7.8-0.5-36.832.3-19.9

KEY FINANCIAL INDICATORS

The following table illustrates some key financial ratios, on a consolidated basis:

Key Financial Indicators20182019202020212022
Debt / Equity11.7118.6112.169.845.95
Debt / (Equity + Liabilities)0.920.950.920.910.86
Net Debt / EBITDA10.737.768.217.485.09
Interest Cover (EBITDA / Net Financing Cost)1.512.162.572.292.81
Current Ratio1.091.131.120.030.02
Quick Ratio1.031.051.051.061.02
Gross Profit Margin5.8%7.4%11.5%5.3%5.2%
EBITDA Margin9.2%10.1%13.58.6%14.5%
EBIT Margin4.5%2.7%6.8%3.8%9.8%
Pretax Margin-1.6%-2.0%1.5%0.0%4.6%
Net Margin-4.8%-7.5%1.2%-2.4%9.5%
(avg) Return on Equity-26.1%-51.7%6.7%-13.9%28.7%
(avg) Return on Assets-2.2%-3.2%0.4%-1.2%3.4%

Share Capital Changes

The par value of the Company’s paid-up share capital amounts to €43,296,455 and is split into 144,321,516 common registered shares, each with a face value of €0.30.

Besides the par value, the Company’s paid-up equity capital includes share premium reserves amounting to €146,651,670 thereby bringing the total of the Company’s paid up capital to €189,948,125.

The following changes in the Company’s nominal share capital have taken place since incorporation:

Authorising General AssemblyShares issuedPar Value (in drachmas / €)Issue Price (in drachmas / €)Reserves Capitalisation (in drachmas / €)Rights Issue (in drachmas / €)Total Par Value of Share Capital (in drachmas / €)New Total of Shares
Incorporation10,01010,00010,000100,100,000100,100,00010,010
30.06.199290,0901,000100,100,000100,100
01.06.1994394,9001,0001,000394,900,000495,000,000495,000
01.06.19942,805,000150495,000,0003,300,000
01.06.19941,000,0001501,500150,000,000645,000,0004,300,000
16.05.19971,720,0001501,200258,000,000903,000,0006,020,000
25.11.1998180180,600,0001,083,600,0006,020,000
05.08.19999,030,0001801,6001,625,400,0002,709,000,00015,050,000
15.06.20003,010,000180541,800,0003,250,800,00018,060,000
15.06.200018,540,0001801,9003,337,200,0006,588,000,00036,600,000
26.06.2001€0.55€796,177.54€20,130,00036,600,000
31.01.200336,600,000€0.55€20,130,000€40,260,00073,200,000
26.06.2007€0.58€2,196,000€42,456,00073,200,000
23.08.20074,454,850€0.58€7.60€33,856,860€45,039,81377,654,850
03.09.2018€0.30- €21,743,358€23,296,45577,654,850
26.09.201966,666,666€0.30€0.30€20,000,000€43,296,454144,321,516
TOTAL144,321,516€0.30€43,296,454

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