Annual / Quarterly Financial Statement • Mar 31, 2016
Annual / Quarterly Financial Statement
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| Company Information | Members of the Board Directors: | ||
|---|---|---|---|
| Supervisory Authority: | MINISTRY OF DEVELOPMENT/General Secretariat of Commerce, | Chairman - Executive Member | Dimitris koutsolioutsos |
| Website address: | http://www.ffgroup.com | Vice President - Executive Member | Kaiti koutsolioutsos |
| Financial Statements' approval date by the BoD | 30 March 2016 | Managing Director - Executive member | George koutsolioutsos |
| Certified Auditor Accountant: | Chrisoula G.Tsakalogianni | Deputy Managing Director & General Manager, Executive Member |
Emmanouil Zachariou |
| Auditing Company : | ECOVIS VNT Auditing s.a | Executive Member | Eirini Nioti |
| Type of Auditors' Report: | Assent | Non-Executive Member | Jiannong Qian |
| Non-Executive Member Non-Executive Member |
Elias Koukoutsas Elias Kouloukountis |
||
| Non-Executive Member | Zacharias Μantzavinos | ||
| Independent non-Executive Member | Epaminondas Dafermos | ||
| Independent non-Executive Member | Georgios Aronis |
| DATA FROM STATEMENT OF FINANCIAL POSITION | CASH FLOW STATEMENT | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| (consolidated and non consolidated) amounts in € | (consolidated and non consolidated) amounts in € | ||||||||
| The Group | The Company | ||||||||
| 31.12.2015 | 31.12.2014 | 31.12.2015 | 31.12.2014 | 2nd Alternate: Indirect method | The Group | The Company | |||
| ASSETS | 01.01. - 31.12.2015 | 01.01. - 31.12.2014 | 01.01. - 31.12.2015 | 01.01. - 31.12.2014 | |||||
| Property, Plant & Equipment | 197.018.259,62 | 185.779.347,36 | 45.929.766,18 | 47.782.940,21 | Cash Flows related to Operating | ||||
| Activities Net Profit before taxes (Continuing |
|||||||||
| Investment Property | 75.285.901,43 | 76.038.010,41 | 75.285.901,43 | 76.038.010,41 | operations) | 225.270.681,90 | 192.798.761,32 | -16.173.584,42 | 177.310,33 |
| Intangible assets | 137.454.797,28 | 106.226.801,59 | 41.895.396,29 | 42.415.957,21 | Adjustments | ||||
| Participations | 631.023,17 | 659.948,73 | 216.220.996,29 | 206.449.961,86 | Depreciation and Amortisation | 26.463.865,57 | 20.642.275,26 | 6.040.182,68 | 5.871.092,93 |
| Other non-current assets | 240.289.322,72 | 237.004.669,50 | 138.836.301,99 | 155.101.485,34 | Provisions | 1.357.037,35 | 2.336.170,90 | 771.501,00 | 1.490.018,78 |
| Inventories | 490.327.968,61 | 366.558.622,52 | 37.671.158,84 | 35.799.923,84 | Exchange differences | 82.638.468,65 | 19.355.381,23 | 0,00 | 0,00 |
| Trade Receivables | 585.865.489,69 | 533.812.508,45 | 72.146.994,77 | 67.575.884,05 | Results (income, expenses, gains and losses) from investing activities | 1.387.454,73 | -10.097.828,78 | 3.030.151,80 | -12.394.782,60 |
| Other current assets | 480.736.278,30 | 463.519.889,62 | 128.212.017,13 | 194.440.500,58 | Interest and related expenses Adjustments related to working |
14.093.081,20 | 17.460.400,47 | 11.690.852,55 | 11.349.244,73 |
| TOTAL ASSETS | 2.207.609.040,82 | 1.969.599.798,18 | 756.198.532,92 | 825.604.663,50 | capital or other operating activities | 0,00 | 0,00 | 0,00 | 0,00 |
| Decrease/(increase) of Inventories | -117.619.726,53 | -90.087.105,64 | -1.871.235,00 | -4.586.670,97 | |||||
| Decrease/(increase) of Receivables | -97.210.083,62 | -95.591.081,88 | -30.710.329,39 | 11.315.029,73 | |||||
| Increase/(decrease) of payable accounts (except Banks) | -30.687.906,32 | 41.579.897,84 | -9.468.319,07 | -27.644.882,34 | |||||
| Minus | |||||||||
| Interest paid and similar expenses | -7.668.166,60 | -15.649.049,47 | -5.265.937,95 | -9.265.140,05 | |||||
| Income Tax paid | -40.163.843,09 | -26.512.905,12 | -3.762.116,94 | 0,00 | |||||
| EQUITY AND LIABILITIES | Net cash inflows/(outflows) from Operating Activities (a) | 57.860.863,24 | 56.234.916,13 | -45.718.834,74 | -23.688.779,46 | ||||
| Share capital | 20.084.463,00 | 20.084.463,00 | 20.084.463,00 | 20.084.463,00 | Investing Activities | ||||
| Other components of equity | 1.555.883.746,56 | 1.313.973.208,73 | 419.723.272,02 | 480.292.090,10 | Purchases of subsidiaries, associates and other investments | -48.363.629,00 | -13.708.073,25 | -9.070.150,89 | -5.000.529,86 |
| Total equity attributable to owners of the Parent (a) | 1.575.968.209,56 | 1.334.057.671,73 | 439.807.735,02 | 500.376.553,10 | Acquisition of minorities | 0,00 | 0,00 | 0,00 | 0,00 |
| Non controlling interests (b) | 29.720.774,10 | 26.799.057,11 | 0,00 | 0,00 | |||||
| Total Equity (c) = (a)+(b) | 1.605.688.983,66 | 1.360.856.728,84 | 439.807.735,02 | 500.376.553,10 | Purchases of tangible and intangible assets | -66.032.272,07 | -36.107.530,90 | -3.438.861,04 | -3.609.764,87 |
| Long-term borrowings | 332.643.035,38 | 304.343.050,12 | 242.066.785,17 | 241.921.726,69 | Proceeds from sale of tangible and intangible assets | 1.537.180,69 | 410.900,63 | 22.627,45 | 30.919,64 |
| Provisions / Other long terms liabilities | 42.920.078,06 | 43.908.263,12 | 29.496.077,76 | 35.163.029,08 | Interest received | 1.865.952,54 | 6.512.641,99 | 423.743,98 | 3.070.435,92 |
| Short-term borrowings | 45.035.170,21 | 46.793.826,94 | 6.361.030,07 | 1.877.732,91 | Dividends received | 0,00 | 0,00 | 1.000.000,00 | 541.904,99 |
| Other current liabilities | 181.321.773,51 | 213.697.929,14 | 38.466.904,90 | 46.265.621,72 | Proceeds from sale of financial assets | 27.695.440,83 | -8.657.222,34 | -1.794.629,17 | -8.657.222,34 |
| Total liabilities (d) | 601.920.057,16 | 608.743.069,32 | 316.390.797,90 | 325.228.110,40 | Decrease/(increase) of other long-term receivables | -14.015.996,21 | -147.656,82 | -50.035,02 | 51.791,07 |
| TOTAL EQUITY AND LIABILITIES (c) + (d) | 2.207.609.040,82 | 1.969.599.798,16 | 756.198.532,92 | 825.604.663,50 | |||||
| Net cash inflows/(outflows) from Investing Activities (b) Financing Activities |
-97.313.323,22 | -51.696.940,69 | -12.907.304,69 | -13.572.465,45 | |||||
| Capital increase | 0,00 | 0,00 | 0,00 | 0,00 | |||||
| Proceeds from Loans | 40.840.592,76 | 267.761.823,82 | 0,00 | 255.000.000,00 | |||||
| Additional notes and information: | Proceeds from leases Payment of Loans |
3.623.278,05 -25.380.703,57 |
1.035.348,82 -166.241.115,22 |
0,00 0,00 |
0,00 -145.571.253,58 |
||||
| Payments for leases | -4.157.693,90 | -2.669.111,74 | -1.796.581,21 | -1.547.897,23 | |||||
| 1. In the Note 1.1 of the financial statements are mentioned a. The name and country of the registered office of each of the companies included in the consolidated financial statements for the Period 01.01.2015 – 31.12.2015 , and the | Own Stock | -4.918.066,64 | -7.234.415,20 | -4.918.066,64 | -7.601.600,28 | ||||
| percentage with which the company participated, directly or indirectly, in their equity and b. The consolidation method applied for each company included in the consolidated financial statements for the statements for the Period | Expenses related to capital increase | -174.490,50 | -552.327,43 | -145.971,73 | -552.327,75 | ||||
| 01.01.2015 – 31.12.2015 2. The unaudited fiscal years of the parent company and its subsidiaries are listed in Note B 15 of the financial statements. 3. The number of employees by the Group as of 31.12.2015 amounted to 5.162 and the | Dividends paid / Return capital | -21.962.578,77 | -51.189.550,52 | -19.981.978,77 | -50.213.674,43 | ||||
| respective number for the Company was 1.104. On 31.12.2014 amounted to 4.649 employees for the Group and 1.143 for the Company. 4. In the financial statements are included the following provisions in total: a) For the Group | -12.129.662,57 | 40.910.652,53 | -26.842.598,35 | 49.513.246,73 | |||||
| provisions for unaudited tax years amounting to € 237th. , provision for staff compensation € 5.040th., litigations €1.123 thousand, and other provisions amounting to € 3.428th. b) The Company provisions for unaudited tax years | Net cash inflows/(outflows) from Financing Activities (c) | ||||||||
| amounting to € 211th., provision for staff compensation € 2.179th. , litigations € 1.123th. And other provisions € 290th. 5. On December 31, 2015 the Company held 501.948 own shares. 6. The amounts mentioned in "Other comprehensive income / expenses after taxes" are as following: For the Company an amount of € 16.924th. refers to valuation loss on available for sale financial assets, an amount of € 1.694th. refers to Financial instruments valuation profit, amount € 440th. refers to expense from deferred income tax, relating to components of comprehensive income and finally amount 92th related to the profit on revaluation of employee benefits |
Net increase / (decrease) in cash and cash equivalents (a) + (b) + (c) |
-51.582.122,55 | 45.448.627,97 | -85.468.737,78 | 12.252.001,82 | ||||
| obligations. For the Group, an amount of € 22.786th. refers to valuation loss on available for sale financial assets , an amount of € 1.469th. refers to financial instruments valuation profit, an amount of € 104,223th. refers to foreign | |||||||||
| exchange differences (profit) on translating foreign holdings , an amount of € 460th. refers to expense from deferred income tax relating to components of other comprehensive income and finally amount of 259 th related to the profit on revaluation of employee benefits obligations . 7. In the present financial statements include the newly acquired company, 1 August 2015, FF Cosmetics SA (former Shiseido Hellas SA) without significant effect on the amounts of the |
Cash and cash equivalents at beginning of the Year | 297.032.823,27 | 251.584.195,30 | 146.752.090,49 | 134.500.088,67 | ||||
| consolidated annual statements. 8. All transactions (inflows and outflows) from the beginning of the year, as well as the balances of receivables and payables at the end of the period of the Group and the Company, which have resulted from transactions with related parties as defined to IAS 24 are as following: |
Cash and cash equivalents at end of the Year | 245.450.700,72 | 297.032.823,27 | 61.283.352,71 | 146.752.090,49 | ||||
| DATA FROM STATEMENT OF CHANGES IN EQUITY | |||||||||
| (consolidated and non consolidated) amounts in € | |||||||||
| The Group 31.12.2015 |
31.12.2014 | The Company 31.12.2015 |
31.12.2014 | ||||||
| Equity Opening Balance ( 01.01.2015 and 01.01.2014 respectively) | 1.360.856.728,84 | 1.183.431.505,53 | 500.376.553,10 | 561.210.664,42 |
Total comprehensive income net of tax 269.375.130,49 236.161.930,57 -35.504.779,71 -2.836.210,87
The following data and information that result from Financial statements aim to provide a general briefing for the financial position and the results of operations of FOLLI FOLLIE S.A, with trade mark "FF GROUP",and the Group. It is therefore recommended, to any reader, before proceeding to any kind of investment decision or other transaction with the Company, to visit Company's web site, where the Financial Statements are posted, as well as the relevant Certified Auditors Report whenever that is required by the law.
23rd Km Athens - Lamia 145 65 Ag.Stefanos
Financial Data and Information for the Year
January 1st, 2015 - December 31st, 2015
Minority interest resulted from Subsidiaries' rates change 0,00 163.391,79 0,00 0,00 Dividends payable -6.729.843,06 -901.883,25 -6.729.843,06 0,00 Other Movements -12.894.965,97 -50.763.800,59 -13.416.128,67 -50.763.485,25 Purchase / Sale of own shares -4.918.066,64 -7.234.415,20 -4.918.066,64 -7.234.415,20 Equity Closing Balance ( 31.12.2015 and 31.12.2014 respectively) 1.605.688.983,66 1.360.856.728,84 439.807.735,02 500.376.553,10
| amounts in thousands.000 | The Group | The Company | ||
|---|---|---|---|---|
| A) Income | 51,38 | 37.826,44 | ||
| B)Expenses | 2.999,25 | 8.350,63 | ||
| C) Receivables | 353,06 | 85.307,25 | ||
| D) Payables | 642,56 | 225.299,29 | ||
| E) Directors' and members' of the Board of the Directors transactions and fees | 3.596,65 | 3.312,98 | ||
| F) Receivables from the Directors' and the members' of the BoD | 0,00 | 0,00 | ||
| G) Payables to the Directors' and the members' of the BoD | 0,00 | 0,00 | ||
| DATA FROM STATEMENT OF COMPREHENSIVE INCOME | ||||
| (consolidated and non consolidated) amounts in € |
| The Group | The Group | |
|---|---|---|
| 01.01. - 31.12.2015 01.01. - 31.12.2015 01.01. - 31.12.2015 01.01. - 31.12.2014 |
01.01. - 31.12.2014 01.01. - 31.12.2014 | |
| Non - Continuing | Non - Continuing Total |
|
| Continuing operations operations Total Continuing operations |
operations | |
| Turnover | 1.193.043.273,00 0,00 1.193.043.273,00 |
998.061.616,80 0,00 998.061.616,80 |
| Gross Profit | 581.228.168,04 0,00 581.228.168,04 |
501.752.997,14 0,00 501.752.997,14 |
| Profit before tax, financial and investing results (EBIT) | 238.542.760,68 0,00 238.542.760,68 |
202.360.125,16 0,00 202.360.125,16 |
| Profit/Loss (before the tax) | 225.270.681,90 0,00 225.270.681,90 |
192.798.761,34 0,00 192.798.761,32 |
| Profit / Loss after tax (A) | 186.633.435,35 0,00 186.633.435,35 |
145.440.852,26 0,00 145.440.852,26 |
| Attributable to : | ||
| Shareholders of the parent company | 182.639.194,95 | 141.202.422,37 |
| Non controlling interests | 3.994.240,40 | 4.238.429,89 |
| Total | 186.633.435,35 | 145.440.852,26 |
| Other comprehensive income / expenses net of tax (Β) | 82.741.695,14 0,00 82.741.695,14 |
90.721.078,33 0,00 90.721.078,33 |
| Total comprehensive income net of tax (A) + (Β) | 269.375.130,49 0,00 269.375.130,49 |
236.161.930,59 0,00 236.161.930,59 |
| Attributable to : | ||
| Shareholders of the parent company | 265.326.483,53 | 232.019.734,21 |
| Non controlling interests | 4.048.646,96 | 4.142.196,38 |
| Total | 269.375.130,49 | 236.161.930,59 |
| Basic Earnings/losses (after tax) per share(expressed in €) Proposed dividend € |
2,7444 | 2,1129 223.002.400,42 0,00 |
| Profit before taxes, financing and investing results , depreciation and | ||
| amortisation (EBITDA) | 265.006.626,25 0,00 265.006.626,25 |
223.002.400,42 |
| The Company | The Company | |
| 01.01. - 31.12.2015 01.01. - 31.12.2015 01.01. - 31.12.2015 |
Continuing operations 01.01. - 31.12.2014 01.01. - 31.12.2014 | |
| Non - Continuing | ||
| Continuing operations operations Total |
157.115.879,18 0,00 |
|
| Turnover | 152.730.393,64 0,00 152.730.393,64 |
71.757.545,87 0,00 157.115.879,18 |
| Gross Profit | 66.015.350,88 0,00 66.015.350,88 |
807.650,34 0,00 71.757.545,87 |
| Profit before tax, financial and investing results (EBIT) | -898.563,93 0,00 -898.563,93 |
177.310,33 0,00 807.650,34 |
| Profit/Loss (before the tax) | -16.173.584,42 0,00 -16.173.584,42 |
-7.080.558,20 0,00 177.310,33 |
| Profit / Loss after tax (A) | -19.926.025,62 0,00 -19.926.025,62 |
-7.080.558,20 |
| Attributable to : | ||
| Shareholders of the parent company | -19.926.025,62 | -7.080.558,20 |
| Non controlling interests | 0,00 | 0,00 |
| Total | -19.926.025,62 | -7.080.558,20 |
| 4.244.347,33 0,00 |
||
| Other comprehensive income / expenses net of tax (Β) | ||
| -15.578.754,09 0,00 -15.578.754,09 |
-2.836.210,87 0,00 4.244.347,33 |
|
| Total comprehensive income net of tax (A) + (Β) | -35.504.779,71 0,00 -35.504.779,71 |
-2.836.210,87 |
| Attributable to : | ||
| Shareholders of the parent company | -35.504.779,71 | -2.836.210,87 |
| Total | -35.504.779,71 | -2.836.210,87 |
| Basic Earnings/losses (after tax) per share(expressed in €) | -0,2994 | -0,0995 |
| Proposed dividend € | 6.678.743,27 0,00 |
|
| Profit before taxes, financing and investing results , depreciation and | ||
| amortisation (EBITDA) | 5.141.618,75 0,00 5.141.618,75 |
6.678.743,27 |
Agios Stefanos, March 30th, 2016
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