Overview of annual and half-year results

YEAR HALF-YEAR RESULTS ANNUAL RESULTS
2018 Discover the 2018 half-year results Discover the 2018 annual 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

 

2018 results

Revenue breakdown by activity

  • 57%Etex Building
    Performance
  • 28%Etex Roofing
  • 9%Etex Façcade
  • 6%Etex Industry

Geographical revenue breakdown


Revenue

2987
2014
3054
2015
2883
2016
2794
2017
2897
2018
Revenue 2,897in 2018

Recurring operating cash flow (Rebitda)

413
2014
409
2015
417
2016
420
2017
405
2018
Recurring operating cash flow (REBITDA) 405in 2018

Consolidated income statement

IN THOUSANDS OF EUR 2017 2018
Revenue 2,793,738 2,896,938
Cost of sales
-1,932,062
-2,046,164
Gross profit 861,676
850,774
Distribution expenses -389,309
-407,654
Administrative and general expenses
-185,842
-179,172
Other operating charges
-28,777
-22,617
Other operating income
7,914
3,979
Operating income before non recurring items
265,662
245,310
Gain and losses on disposal of assets and businesses                                                      38,114
29,792
Other non recurring items -35,153
-54,424
Operating income (EBIT) 268,623
220,678
Interest income 4,687
4,715
Interest expenses -47,150
-30,265
Other financial income 8,786
11,501
Other financial expense -19,922
-13,278
Share of profit in equity accounted investees 1,220
1,018
Profit before income tax 216,243
194,369
Income tax expense -62,909
-49,635
Profit for the year 153,334
144,734
Attributable to shareholders of Etex 148,036
140,426
Attributable to non-controlling interests 5,298
4,308

 

Consolidated statement of financial position

IN THOUSANDS OF EUR 2017 2018
Non-current assets 2,216,151
2,186,959
Property, plant and equipment 1,640,978
1,641,827
Goodwill 202,975
201,433
Other intangible assets 208,761
220,842
Investment properties 23,376
13,584
Assets held for sale 3,406
3,162
Investments in equity accounted investees 8,186 10,309
Other non-current assets 8,033
5,349
Deferred tax assets 115,093
83,996
Employee benefits assets 5,343
6,457
Current assets 898,081
921,146
Inventories 468,279
446,836
Trade and other receivables 319,652
338,343
Other current assets 3,137
1,803
Cash and cash equivalents 107,013
134,164
TOTAL ASSETS 3,114,232
3,108,105
     
Total equity 1,010,833 1,081,740
 Issued share capital 2,533
2,533
 Share premium 743
743
 Reserves and retained earnings 979,769 1,041,692
Attributable to the equity shareholders of Etex                                                               983,045 1,044,968
Non-controlling interests  27,788 36,772
Non-current liabilities 1,141,217
1,081,381
Provisions 137,827 121,985
Employee benefits liabilities 310,731 312,080
Loans and borrowings 529,735 522,839
Deferred tax liabilities 127,129 95,924
Other non-current liabilities 35,795 28,553
Current liabilities 962,182 944,984
Provisions 55,330 75,376
Current portion of loans and borrowings 213,169 196,926
Trade and other liabilities 693,683 672,682
TOTAL EQUITY AND LIABILITIES  3,114,232 3,108,105

 

Consolidated statement of cash flows

IN THOUSANDS OF EUR 2017 2018
Operating income (EBIT) 268,623
220,678
Depreciation, amortisation and impairment losses 163,425
169,836
Losses (gains) on sale of intangible assets and property, plant and equipment -3,272
-29,882
Losses (gains) on sale of businesses -34,387
194
Income tax paid -61,734
-56,115
Changes in working capital, provisions and employee benefits -48,012
-40,212
Changes in other non-current assets/liabilities 5,408 7,176
Cash flow from operating activities 290,051
271,675
Proceeds from sale of intangible assets and property, plant and equipment 9,950
37,045
Acquisition of business (net of cash) -49,547
 
Disposal of business (net of cash) 11,931
979
Capital expenditure -147,746
-192,345
Other 83 -1,326
Cash flow from investing activities -175,329
-155,647
Capital increase -4,660  2,898
Proceeds (repayment) of borrowings -189,502
-23,170
Interest and dividend received 4,988  5,414
Dividend paid -39,351
-43,862
Interest paid -50,554
-27,649
Cash flow from financing activities -279,079
-86,369
Net increase (decrease) in cash and cash equivalents -164,357
29,659
     
Cash and cash equivalents at the beginning of the year 279,432 103,968
Translation differences -9,444 -6,316
Changes in the scope of consolidation  -1,663 -128
Net increase (decrease) in cash and cash equivalents -164,357 29,659
Cash and cash equivalents at the end of the year 103,968 127,183
 Cash and cash equivalents 107,013 134,164
 Bank overdrafts -3,045 -6,981