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Elton S.A. — Interim / Quarterly Report 2017
Apr 23, 2018
2769_10-k_2018-04-23_f78bd14a-477b-4e4e-a310-7cbb74b58de9.pdf
Interim / Quarterly Report
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| 1/1-31/12/2017 | 1/1-31/12/2017 | ||||
|---|---|---|---|---|---|
| Sales | 0 | 938.860 | |||
| Purchases | 0 | 369.112 | |||
| Receivables from associated parties | 0 | 1.048.231 | |||
| Payables to associated parties | 0 | 1.337.952 | |||
| Directors' and Managers' remuneration | 935.916 | 610.135 | |||
| Receivables from Managers and Directors | 0 | 0 | |||
| Payables to Managers and Directors | 24.337 | 24.337 | |||
| 9. The other comprehensive income after tax are: | |||||
| GROUP | COMPANY | ||||
| 31/12/2017 31/12/2016 31/12/2017 31/12/2016 | |||||
| Exchange Differences | (402.111) (387.331) 0 | 0 | |||
| Deffered taxes | 3.675 1.068 | 3.675 1.068 | |||
| Actuarially profit/loss | (12.671) (3.683) | (12.671) (3.683) | |||
| TOTAL | (411.107) (389.946) | (8.996) (2.615) | |||
FINANCIAL STATEMENTS AND INFORMATION of period from 1st January 2017 until 31st December 2017
Company's No in the Registry of S.A. : 346001000 General Commercial Reg.Number 7951/06/Β/86/85 Head Office: Avlonas Attiki , Draseza place (Industrial zone Avlona)
ELTON INTERNATIONAL TRADING COMPANY S.A.
(pubished according to K.N. 2190/20, article 135 for companies that issue annual financial statements consolidated and non, according to IAS). The following data and information derived from the financial statements aim to provide general information about the financial position and results of ELTON INTERNATIONAL TRADING COMPANY SA. We advise the reader, before making any investment decision or other transaction with the company, to visit the web site where the financial statements and the report of the auditor where required.
GROUP COMPANY 4. There is not any litigation or arbitration or administrative court that may have a material effect on the financial position of the Company andits subsidiaries. 5. Number of employees at the end of the current period : Group 241 Company 119. (31/12/2016: Group 230 ,Company 117). 6. On the above 31/12/2017 financial statements complied same basic accounting principles as at the Balance Sheet 31/12/2016. 7. TheGroup and the Company have made provisions for bad debts up to 31/12/2017 amounting to 6.908.618 and 4.951.235 euros respectively and provisions for discredited inventories amount in 130.000 euros for the Group and the Company. Until 31st December 2017 the provision for staff compensation in the Group and the Company was 501.740 €. 8. Cumulative amounts of sales and purchases , since the begining of the year and the balances of receivables and payables of the Group and the Company at the end of the year , resulting from its transactions with associated parties , according to the IFRS 24, are as follows :
| COMPANY INFORMATION | 1.3 CASH FLOW STATEMENT | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Website : www.elton.gr |
Consolidated and Company's (amounts in euro) | |||||||||
| Board ofDirectors : Nestor D. Papathanasiou President and CEO |
GROUP COMPANY |
|||||||||
| Alkisti Ν. Papathanasiou and Katy Andreou executivemembers. | Operating Activities | 1/1-31/12/2017 | 1/1-31/12/2016 | 1/1-31/12/2017 | 1/1-31/12/2016 | |||||
| Elektra Ν. Papathanasiou non executive member | Profit before taxes | 4.594.021 | 3.605.395 | 3.008.250 | 2.379.054 | |||||
| Christos Poulis and Michalis Hatzis | Adjustments for : | |||||||||
| non executive independent members. | Depreciation and Amortization | 879.428 | 893.260 | 629.848 | 638.757 | |||||
| Date of Financial Statements' approval by the Board : 18/4/2018 | Amortization of grants | (51.543) | (58.503) | (51.543) | (58.503) | |||||
| Certified Auditor | Ioannis Savadis S.O.E.L. 33391 | Provisions | 2.847.483 | 1.495.100 | 1.384.618 | 1.133.295 | ||||
| Audit firm : | SOL AE OE | Exchange Differences | (250.894) | (324.330) | 2.731 | (12.729) | ||||
| Type of Audit Review : | Unqualified opinion | (Gain) or Loss from Investing activities | 55.975 | 4.233 | 1.089 | 1.229 | ||||
| Interest and similar charges | 1.271.117 | 1.391.672 | 733.956 | 918.733 | ||||||
| 1.1. STATEMENT OF FINANCIAL POSITION | Working capital changes | |||||||||
| (consolidated and company's) Amounts in euro | Decrease / (increase) of inventory | (3.678.340) | 294.657 | (1.035.133) | 759.420 | |||||
| GROUP | COMPANY | Decrease / (increase) of trade receivables | (6.328.117) | (1.993.595) | (3.660.550) | (1.684.531) | ||||
| ASSETS | 31/12/2017 | 31/12/2016 | 31/12/2017 | 31/12/2016 | (Decrease) / increase of liabilities (except loans) | 3.716.674 | (2.150.812) | 1.894.468 | (1.637.574) | |
| Fixed Assets | 16.974.968 | 16.179.238 | 11.076.543 | 11.255.485 | Less : | |||||
| Intagible Assets | 2.626.986 | 2.769.619 | 2.491.297 | 2.657.895 | Interest and similar charges paid | (1.242.014) | (1.299.060) | (733.556) | (918.215) | |
| Other non current Assets | 1.338.009 | 1.432.840 | 13.447.051 | 13.544.885 | ||||||
| Inventories | 22.183.015 | 18.504.675 | 12.552.606 | 11.517.473 | Tax paid | (2.056.712) | (345.052) | (1.775.157) | 0 | |
| Trade Receivables | 44.913.373 | 40.570.730 | 32.028.419 | 29.528.573 | Total cash/(used in) generated from operating activities(a) | (242.922) | 1.512.967 | 399.022 | 1.518.937 | |
| Other current Assets | 6.781.699 | 9.138.260 | 6.218.773 | 7.465.686 | Investing Activities | |||||
| TOTAL ASSETS | 94.818.050 | 88.595.361 | 77.814.689 | 75.969.998 | Acquisition of Subsidiary | 0 | 0 | 0 | (150.000) | |
| EQUITY AND LIABILITIES | Purchase of Intagible Assets, Property | (1.708.027) | (538.871) | (285.397) | (337.266) | |||||
| Share Capital | 13.899.697 | 16.038.112 | 13.899.697 | 16.038.112 | Sale of fixed and Intagible assets | 1.564 | 9.063 | 0 | 0 | |
| minus : purchase of company's own shares | 0 | 0 | 0 | 0 | Interest received | 22.243 | 59.098 | 640 | 522 | |
| Other net Equity | 36.162.309 | 33.200.712 | 30.823.039 | 28.756.850 | Dividends received | 0 | 0 | 0 | 0 | |
| Equity attributable to the equity holders of the parent (a) | 50.062.006 | 49.238.824 | 44.722.736 | 44.794.962 | Total cash/(used in) generated from investing activities(b) | (1.684.219) | (470.710) | (284.756) | (486.744) | |
| Minority interest (b) | 333.085 | 348.549 | 0 | 0 | Financing Activities | |||||
| Total Equity (c)=(a)+(b) | 50.395.091 | 49.587.373 | 44.722.736 | 44.794.962 | (Buy)/ sale of company's own shares | 0 | 0 | 0 | 0 | |
| Long Term Borrowings | 5.566.525 | 2.663.154 | 4.427.174 | 2.262.653 | Proceeds from increase of share capital from | |||||
| Provisions/Other Long Term Liabilities | 1.592.340 | 2.249.597 | 1.473.737 | 2.137.706 | minority interest | 0 | 107.118 | 0 | 0 | |
| Short Term Borrowings | 18.130.070 | 18.128.721 | 14.286.341 | 15.251.806 | Proceeds from Borrowings | 27.834.889 | 31.705.120 | 13.025.000 | 26.030.000 | |
| Other Short Term Liabilities | 19.134.024 | 15.966.515 | 12.904.701 | 11.522.870 | (25.211.117) | |||||
| Total Liabilities (d) | 44.422.959 | 39.007.988 | 33.091.953 | 31.175.036 | Repayment of Borrowings | (24.977.792) | (32.312.508) | (11.825.945) | ||
| TOTAL EQUITY AND LIABILITIES (c)+(d) | 94.818.050 | 88.595.361 | 77.814.689 | 75.969.998 | Repayment of Finance Lease Liabilities | 0 | 0 | 0 | 0 | |
| Dividends paid from capital decrease | (2.138.415) | 0 | (2.138.415) | 0 | ||||||
| 1.2. INCOME STATEMENT | Total cash/(used in) generated from financing activities(c) | 718.682 | (500.271) | (939.360) | 818.883 | |||||
| (consolidated and company's) Amounts in euro | Net increase/(decrease) | |||||||||
| GROUP | COMPANY | in Cash and Cash equivalents (a)+(b)+(c) | (1.208.458) | 541.985 | (825.094) | 1.851.076 | ||||
| 1/1-31/12/2017 | 1/1-31/12/2016 | 1/1-31/12/2017 | 1/1-31/12/2016 | Cash and Cash Equivalents at the beginning of the period | 6.040.849 | 5.492.326 | 5.301.231 | 3.450.156 | ||
| Turnover | 126.923.231 | 113.521.403 | 79.252.711 | 74.200.098 | Subsidiary Consolidation | 0 | 6.538 | 0 | 0 | |
| Gross Profit | 20.625.657 | 18.022.635 | 12.914.882 | 11.895.243 | Cash and Cash Equivalents at the end of the period | 4.832.391 | 6.040.849 | 4.476.137 | 5.301.231 | |
| Profit/(loss) before taxes,financing | ||||||||||
| & investing results | 5.862.050 | 4.991.188 | 3.742.206 | 3.297.787 | 1.4 STATEMENT OF CHANGES IN EQUITY | |||||
| Profit before taxes | 4.594.021 | 3.605.395 | 3.008.250 | 2.379.054 | (Consolidated and company's) Amounts in euro | |||||
| Profit/(loss) after Taxes (Α) | 3.357.240 | 2.644.816 | 2.075.185 | 1.660.039 | GROUP | COMPANY | ||||
| Attributable to: Owners of the parent company | 3.322.825 | 2.632.818 | 2.075.185 | 1.660.039 | 31/12/2017 | 31/12/2016 | 31/12/2017 | 31/12/2016 | ||
| Minority interest | 34.415 | 11.998 | 0 | 0 | Equity at the beginning of the period | |||||
| Other comprehensive Income after tax (B) | -411.107 | -389.946 | -8.996 | -2.615 | (1.1.2017 and 1.1.2016 respectively) | 49.587.373 | 47.441.428 | 44.794.962 | 43.137.538 | |
| Total comprehensive Income after tax (A)+(B) | 2.946.133 | 2.254.871 | 2.066.189 | 1.657.424 | Total comprehensive income after tax | 3.357.240 | 2.644.816 | 2.075.185 | 1.660.039 | |
| Attributable to: Owners of the parent company | 2.961.597 | 2.314.626 | 2.066.189 | 1.657.424 | Exchange differences | (402.111) | (387.331) | 0 | 0 | |
| Minority interest | -15.464 | -59.755 | 0 | 0 | Actuarially profit/(loss) on defined benefit pension plans | (8.996) | (2.615) | (8.996) | (2.615) | |
| Earnings after taxes per share (€) | 0,1243 | 0,0985 | 0,0776 | 0,0621 | Other | (2.138.415) | (108.925) | (2.138.415) | 0 | |
| Profit before taxes, financing & investing results and | Equity at the end of the period | |||||||||
| depreciation (EBITDA) | 6.742.728 | 5.885.698 | 4.372.054 | 3.936.544 | (31.12.2017 and 31.12.2016 respectively) | 50.395.091 | 49.587.373 | 44.722.736 | 44.794.962 | |
| 1.5 ADDITIONAL DATA AND INFORMATION | Avlonas Attica, 18th April 2018 | |||||||||
| 1. The companies of the Group with their respective countries of residence and percentage holdings, included in the consolidated financial statements | ||||||||||
| COMPANY | COUNTRY | PERCENTAGE HOLDING CONSOLIDATION METHOD |
PRESIDENT & CEO | |||||||
| ELTON INTERNATIONAL TRADING COMPANY SA | GREECE | PARENT | ||||||||
| ELTON CORPORATION SA | ROMANIA | 100% | FULL | |||||||
| ELTON CORPORATION EOOD | BULGARIA | 100% | FULL | |||||||
| ELTON CORPORATION DOO | SERBIA | 100% | FULL | |||||||
| ELTON CORPORATION LLC | UKRAINE | 100% | FULL | NESTOR D. PAPATHANASIOU | ||||||
| ELTON MARMARA KIMYA SANAYI VE TICARET AS | TURKEY | 70% | FULL 2. The unaudited tax years for the Group subsidiaries are the following: ELTON CORPORATION SA (2010-2017), ELTON CORPORATION EOOD (2010-2017), ELTON CORPORATION DOO (2010- |
ID card num. ΑΒ 606775 |
has benefited from the tax audit of Certified Auditors Accountants provided by the provisions of Article 65 A N.4174/2013. This audit is in progress and the related tax certificate will be granted
after the publication of the financial statements of year 2017.
3. There are encumbrances on the property of the subsidiary in Bulgaria for securing loan obligations at the amount of 2,36 mil. euro.
Offices Service S.A. 2109247017
B.O.D. MEMBER
ALK.Ν.PAPATHANASIOU ID card num. ΑΕ 105490
FINANCIAL MANAGER
ST.D.VASILIOU ID card num.Τ 132250
GROUP C.F.O.
ANTONIS YASSARIS ID card num. ΑΝ 061294