Overview of annual and half-year results

YEAR HALF-YEAR RESULTS ANNUAL RESULTS
2018 Discover the 2018 half-year results -
2017 Discover the 2017 half-year results Discover the 2017 annual results
2016 Discover the 2016 half-year results Discover the 2016 annual results
2015 Discover the 2015 half-year results Discover the 2015 annual results
2014 Discover the 2014 half-year results Discover the 2014 annual results

 

2017 results

Revenue breakdown by activity

Etex Building Performance
 
54%
Etex Roofing
 
30%
Etex Façade
 
10%
Etex Industry
 
6%

Geographical revenue breakdown

United Kingdom
 
17%
France
 
17%
Other Europe
 
15%
Germany
 
14%
Rest of the world
 
9%
Benelux
 
6%
Poland
 
4%
Chile
 
4%
Argentina
 
4%
Nigeria
 
3%
Peru
 
3%
Colombia
 
2%
South Africa
 
2%

Revenue
in billion euro

2013
 
3.046
2014
 
2.987
2015
 
3.054
2016
 
2.883
2017
 
2.794

Recurring operating cash flow (Rebitda)
in million euro

2013
 
415
2014
 
413
2015
 
409
2016
 
417
2017
 
420

Consolidated income statement

IN THOUSANDS OF EUR 2016 2017
Revenue 2,736,817 2,793,738
Cost of sales
-1,902,330
-1,932,062
Gross profit 834,487
861,676
Distribution expenses -395,444
-389,309
Administrative and general expenses
-171,075
-185,842
Other operating charges
-28,392
-28,777
Other operating income
8,774
7,914
Operating income before non recurring items
248,350
265,662
Gain and losses on disposal of assets and businesses                                                      -2,198
38,114
Other non recurring items -69,762
-35,153
Operating income (EBIT) 176,390
268,623
Interest income 3,462
4,687
Interest expenses -63,599
-47,150
Other financial income 441
8,786
Other financial expense -11,815
-19,922
Share of profit in equity accounted investees 1,250
1,220
Profit before income tax 106,129
216,243
Income tax expense -17,027
-62,909
Profit for the year from continuing operations 89,102
153,334
Attributable to shareholders of Etex 86,337
148,036
Attributable to non-controlling interests 2,765
5,298
Profit from discontinued operations 40,861
 
Profit for the year 129,963
153,334
Attributable to shareholders of Etex 127,198
148,036
Attributable to non-controlling interests 2,765
5,294

 

Consolidated statement of financial position

IN THOUSANDS OF EUR 2016 2017
Non-current assets 2,210,172
2,216,151
Property, plant and equipment 1,581,014
1,640,978
Goodwill and other intangible assets 397,557
411,736
Investment properties 23,657
23,376
Assets held for sale 6,375
3,406
Investments in equity accounted investees 37,197 8,186
Other non-current assets 14,110
8,033
Deferred tax assets 150,262
115,093
Employee benefits assets -
5,343
Current assets 1,041,507
898,081
Inventories 431,876
468,279
Trade and other receivables 317,665
319,652
Other current assets 8,731
3,137
Cash and cash equivalents 283,235
107,013
TOTAL ASSETS 3,251,679
3,114,232
     
Total equity 888,581 1,010,833
 Issued share capital 4,492
2,533
 Share premium 3,724
743
 Reserves and retained earnings 851,932 979,769
Attributable to the equity shareholders of Etex                                                               860,148 983,045
Non-controlling interests 28,433 27,788
Non-current liabilities 1,134,221
1,141,217
Provisions 162,696 137,827
Employee benefits liabilities 399,278 310,731
Loans and borrowings 398,934 529,735
Deferred tax liabilities 139,545 127,129
Other non-current liabilities 33,768 35,795
Current liabilities 1,228,877 962,182
Provisions 51,029 55,330
Current portion of loans and borrowings 523,008 213,169
Trade and other liabilities 654,840 693,683
TOTAL EQUITY AND LIABILITIES 3,251,679 3,114,232

 

Consolidated statement of cash flows

IN THOUSANDS OF EUR 2016 2017
Operating income (EBIT) 176,390
268,623
Depreciation, amortisation and impairment losses 160,868
163,425
Losses (gains) on sale of intangible assets and property, plant and equipment -1,597
-3,272
Losses (gains) on sale of businesses 2,979
-34,387
Income tax paid -51,028
-61,734
Changes in working capital, provisions and employee benefits 26,130
-48,012
Changes in other non-current assets/liabilities -1,341 5,408
Discontinued operations: cash flow from operating activities -22,090
-
Cash flow from operating activities 290,312
290,051
Proceeds from sale of intangible assets and property, plant and equipment 5,668
9,950
Acquisition of business (net of cash) -20,753
-49,547
Disposal of business (net of cash) 1,328
11,931
Capital expenditure -136,990
-147,746
Interest and dividend received 4,668
4,988
Other -1 83
Discontinued operations: cash flow from investingactivities 173,228
Cash flow from investing activities 27,148
-170,341
Capital increase -11,423 -4,660 
Proceeds (repayment) of borrowings -35,968
-189,502
Dividend paid -36,153
-39,351
Interest paid -46,199
-50,554
Discontinued operations: cash flow from financing activities -39,135
-
Cash flow from financing activities -168,879
-284,067
Net increase (decrease) in cash and cash equivalents 148,581
-164,357
     
Cash and cash equivalents at the beginning of the year 161,829 279,432
Translation differences -19,443 -9,444
Changes in the scope of consolidation -11,535 -1,663
Net increase (decrease) in cash and cash equivalents 148,581 -164,357
Cash and cash equivalents at the end of the year 279,432 103,968
 Cash and cash equivalents 283,235 107,013
 Bank overdrafts -3,803 -3,045