Consolidated Financial Statements of the F.I.L.A. Group
Separate Financial Statements of F.I.L.A. S.p.A.
134
The change in the consolidation scope added 1,295 employees, relating to the “M&A” operations for
the acquisition of the Canson Group, Daler-Rowney Lukas, St. Cuthberts and the Indian Pioneer
Stationary Private Limited, against a net increase at like-for-like scope of 458.
Excluding the contribution of personnel from the change in the consolidation scope, the increase in
the F.I.L.A. Group workforce principally concerns white-collar and blue-collar workers, with this
latter principally relating to Asia and Central-South America.
The following table reports the breakdown of the F.I.L.A. Group workforce at December 31, 2016
and December 31, 2015 by region.
Europe
North
America
Central - South
America
Asia
Rest
of the World
Total
December 31, 2015
527
92
1,322
4,083
12
6,036
Total_December_31,_2015_53_1,167_4,376'>Manager_White-collar_Blue-collar_Total'>1,753__4,709_35'>December 31, '2016
1,106
186
1,753
4,709
35
7,789
Change
579
94
431
626
23
1,753
and the breakdown by worker category:
Manager
White-collar
Blue-collar
Total
December 31, 2015
41
1,323
4,672
6,036
December 31, 2016
138
1,710
5,941
7,789
of which change in consolidation scope
83
240
972
1,295
PERSONNEL - FULL TIME EQUIVALENT
The average workforce in 2016 of the F.I.L.A. Group was 7,548, higher than the average workforce in
2015 of 5,596. Excluding the increase from corporate operations (1,295), the workforce of the F.I.L.A
Group did not change significantly.
Manager
White-collar
Blue-collar
Total
December 31, 2015
53
1,167
4,376
5,596
December 31, 2016
141
1,654
5,753
7,548
PERSONNEL - AVERAGE NUMBER OF EMPLOYEES
Consolidated Financial Statements of the F.I.L.A. Group
Separate Financial Statements of F.I.L.A. S.p.A.
135
Note 26 – Amortisation and Depreciation
The account in 2016 amounted to Euro 14,910 thousand (Euro 6,792 thousand in 2015).
Amortisation and depreciation in 2016 and 2015 is reported below:
Euro thousands
December 31, 2016
December 31, 2015
Change
Depreciation of Property, Plant and Equipment
(9,162)
(4,879)
(4,283)
Amortisation of Intangible Assets
(5,748)
(1,913)
(3,835)
Total
(14,910)
(6,792)
(8,118)
Note 26 – AMORTISATION AND DEPRECIATION
The increase in “Amortisation and depreciation” in 2016 from the change in the consolidation scope
was Euro 5,028 thousand. The net increase at like-for-like consolidation scope was Euro 3,090
thousand.
For further details, reference should be made to “Note 1 – Intangible Assets” and “Note 2 – Property,
Plant and Equipment”.
Note 27 – Write-Downs
“Write-downs” in 2016 totalled Euro 828 thousand (Euro 989 thousand in 2015).
The write-downs in 2016 and 2015 are reported below:
Consolidated Financial Statements of the F.I.L.A. Group
Separate Financial Statements of F.I.L.A. S.p.A.
136
Euro thousands
December 31, 2016
December 31, 2015
Change
Write-down Property, Plant and Equipment
(9)
(3)
(6)
Doubtful Debt Provisions
(819)
(985)
166
Total
(828)
(989)
161
Note 27 – WRITE-DOWNS
The increase in 2016 from the change in the consolidation scope was Euro 149 thousand. The net
decrease at like-for-like consolidation scope was Euro 12 thousand.
Trade receivable write-downs in 2016 principally concerned the Parent F.I.L.A. S.p.A., following a
solvency assessment.
Note 28 – Financial Income
The account in 2016 amounted to Euro 4,470 thousand (Euro 15,695 thousand in 2015).
Financial income, together with the comment on the main changes on the previous year, was as
follows:
Euro thousands
December 31, 2016
December 31, 2015
Change
Investment Income
-
13,922
(13,922)
Interest on Bank Deposits
141
467
(326)
Other Financial Income
945
216
730
Unrealised Exchange Gains on Financial Transactions
3,239
988
2,251
Realised Exchange Gains on Financial Transactions
144
101
42
Total
4,470
15,695
(11,225)
Note 28 – FINANCIAL INCOME
The increase in “Financial Income” in 2016 from the change in the consolidation scope was Euro
1,438 thousand. The net decrease at like-for-like consolidation scope was Euro 9,787 thousand.
The main decrease related to “Investment income” and the Fair Value adjustment of the investment of
the Indian subsidiary Writefine Products Private Limited, which impacted this account for Euro
13,992 in 2015.
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