SUMMARY OF FINANCIAL DATA

INCOME STATEMENT

Income Statement (in € m)20172018201920202021
Sales673.1538.4575.9462.7592.2
Gross Profit36.831.242.653.231.6
Other Income & Write-Offs-4.7-14.3-26.2-17.1-15.7
Administrative & General Expenses-32.2-36.6-42.5-33.3-33.8
Income from Associates28.431.930.821.831.2
EBITDA49.949.458.162.351.0
Depreciation10.410.616.315.317.0
Financial Results-37.1-32.8-26.8-24.3-22.3
PreTax Earnings-2.4-8.3-11.27.10.0
Net Earnings -10.6-24.5-17.610.52.0

BALANCE SHEET

Balance Sheet (in € m)20172018201920202021
Fixed Assets (incl. Restricted Deposits)569.5588.3586.3598.5487.1
Inventory39.226.919.139.625.8
Assets for sale6.76.1404.40.0150.3
Receivables from Clients549.0429.4404.8489.7419.2
Restricted Deposits (short-term)0.00.049.032.713.9
Cash Equivalent73.565.771.150.5100.2
Total Assets1,237.91,116.41,534.71,211.01,196.4
Long-Term Debt471.9475.7515.4510.7383.2
Other Long-Term Liabilities72.367.557.363.655.7
Suppliers & Other Short-Term Liabilities462.8365.7407.4440.5386.5
Short-Term Debt121.2119.775.7104.1112.4
Liabilities from Assets for Sale0.00.0400.70.0148.3
Shareholder Funds109.887.878.392.0110.4
Total Liabilities1,237.91,116.41,534.71,211.01,196.4

CASH FLOW

Cash Flow (in € m)20172018201920202021
Pre Tax Earnings-2.4-10.2-11.22.9-13.6
Depreciation10.410.616.315.317.0
Other Operating Cash Flows-35.7%-25.5%20.20.9-2.5
Change in Working Capital-4.85.694.5-89.048.9
Operating Cash Flow-32.4-19.5119.7-69.949.9
Net Movement in Investments-30.7-31.7-25.0-2.140.5
Dividend Received29.841.145.538.931.7
Net Investment Cash Flow-0.99.420.536.772.2
Free Cash Flow-33.3-10.1140.2-33.2122.1
Financing Cash Flow21.12.3-140.6-3.6-89.8
Total Cash Flow-12.2-7.8-0.5-36.832.3

KEY FINANCIAL INDICATORS

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

Key Financial Indicators20172018201920202021
Debt / Equity10.2811.7118.6112.169.84
Debt / (Equity + Liabilities)0.910.920.950.920.91
Net Debt / EBITDA10.4210.737.768.217.48
Interest Cover (EBITDA / Net Financing Cost)1.341.512.162.572.29
Current Ratio1.141.091.131.120.03
Quick Ratio1.081.031.051.051.06
Gross Profit Margin5.5%5.8%7.4%11.5%5.3%
EBITDA Margin7.4%9.2%10.1%13.58.6%
EBIT Margin5.2%4.5%2.7%6.8%3.8%
Pretax Margin-0.4%-1.6%-2.0%1.5%0.0%
Net Margin-1.5%-4.8%-7.5%1.2%-2.4%
(avg) Return on Equity-9.2%-26.1%-51.7%6.7%-13.9%
(avg) Return on Assets-0.8%-2.2%-3.2%0.4%-1.2%

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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