Consolidated Financial Statements of the F.I.L.A. Group
Separate Financial Statements of F.I.L.A. S.p.A.
164
Statement of Comprehensive Income
in Euro
December 31, 2016
December 31, 2015
Revenue from Sales and Service
Note 20
85,272,258
44,692,028
Other Revenue and Income
Note 21
2,568,789
905,987
Total Revenue
87,841,048
45,598,015
Raw Materials, Ancillary, Consumables and Goods
Note 22
(38,868,388)
(29,678,660)
Services and Rent, Leases and Similar Costs
Note 23
(25,620,665)
(15,337,436)
Other Operating Costs
Note 24
(614,345)
(427,639)
Change in Raw Materials, Semi-Finished, Work-in-progress & Finished Prod.
Note 22
(745,196)
8,649,587
Labour Costs
Note 25
(12,005,714)
(6,561,560)
Amortisation & Depreciation
Note 26
(1,967,115)
(1,095,341)
Write-downs
(604,622)
(334,962)
Total Operating Costs
(80,426,044)
(44,786,011)
EBIT
7,415,004
812,004
Financial Income
Note 27
11,059,953
19,683,536
Financial Expense
Note 28
(4,781,849)
(64,478,585)
Net financial charges
6,278,104
(44,795,049)
Pre-Tax Profit/(loss)
13,693,108
(43,983,045)
Income Taxes
(2,398,518)
(308,200)
Deferred Tax Income and Charges
131,695
3,205,072
Total Income Taxes
Note 30
(2,266,823)
2,896,872
Net Profit/(loss) for the Year
11,426,285
(41,086,173)
Other Comprehensive Income Items which may be reclassified subsequently in
the P&L account
461,878
0
Adjustment Fair value of Hedges
461,878
0
Other Comprehensive Income Items which may not be reclassified
subsequently in the P&L account
(99,450)
69,836
Actuarial Gains/(Losses) for Employee Benefits recorded directly to Equity
(134,600)
96,975
Income Taxes on income and charges recorded directly to Equity
35,150
(27,139)
Other Comprehensive Income Items (net of tax effect)
362,428
69,836
Total Comprehensive Income/(Charge)
11,788,713
(41,016,337)
Consolidated Financial Statements of the F.I.L.A. Group
Separate Financial Statements of F.I.L.A. S.p.A.
165
Statement of changes in Equity
Euro thousands
Share capital
Legal Reserve
Share Premium
Reserve
IAS 19 Reserve
Other Reserves
Retained
Earnings
Net Profit
Equity
December 31, 2015
37,171
-
109,879
(212)
26,081
(513)
(41,086)
131,320
Net Profit
-
-
-
-
-
-
11,426
11,426
Other Changes in the year
-
-
4,502
(99)
462
17,940
-
22,805
Gains/(losses) recorded directly to equity
-
-
4,502
(99)
462
17,940
11,426
34,231
Allocation of the 2015 result
-
-
-
-
-
-
41,086
41,086
Allocation to reserves
-
7,434
(49,033)
-
-
513
-
(41,086)
Dividends
-
-
-
-
(3,711)
-
-
(3,711)
December 31, 2016
37,171
7,434
65,348
(311)
22,832
17,940
11,426
161,840
STATEMENT OF CHANGES IN EQUITY
Consolidated Financial Statements of the F.I.L.A. Group
Separate Financial Statements of F.I.L.A. S.p.A.
166
Statement of Cash Flows
Euro thousands
December 31,
2016
December 31,
2015
EBIT
7,415
812
adjustments for non-cash items:
2,684
1,478
Amortisation & Depreciation
Note 26
1,967
1,095
Write-downs & Write-backs of intangible and tangible assets
Note 2
2
1
Doubtful Debt Provision
603
334
Exch. effect on Assets and Liabilities in Foreign Curr. of Commercial Transactions
130
61
Gain/Loss on Fixed Asset Disposals
(18)
(14)
integrations for:
(1,154)
(3,759)
Income Taxes Paid
Note 6
(399)
(3,664)
Unrealised Exchange Differences on Assets and Liabilities in Foreign Currencies
94
37
Realised Exchange Differences on Assets and Liabilities in Foreign Currencies
(849)
(132)
Cash Flow from Operating Activities Before Changes in NWC
8,945
(1,469)
Changes in Net Working Capital:
3,354
2,018
Change in Inventories
Note 7
738
(9,040)
Change in Trade and Other Receivables
Note 8
1,385
13,739
Change in Trade and Other Payables
Note 19
774
(2,514)
Change in Other Assets/Liabilities
625
(58)
Change in Post-Employment and Employee Benefits
Note 14
(168)
(108)
Cash Flow from Operating Activities
12,299
549
Total Investment/Divestment in Intangible Assets
Note 1
(691)
(68)
Total Investment/Divestment in Property, Plant and Equipment
Note 2
(2,905)
(1,065)
Total Investment/Divestment of Investments measured at Cost
Note 4
(175,682)
(36,144)
Total Investment/Divestment in Other Financial Assets
Note 3
(38,645)
78,737
Acquisition of investments in F.I.L.A. S.p.A. by Space S.p.A. (pre-merger)
-
(39,073)
Dividendi da Società del Gruppo
Note 27
8,388
3,223
Interest Received
Note 27
1,452
451
Cash Flow from Investing Activities
(208,083)
6,061
Total Change in Equity
Nota 12
(3,710)
(26,919)
Interest Paid
Note 28
(2,436)
(291)
Total Increase/Decrease Loans and Other Financial Liabilities
Note 13
230,290
(19,471)
Cash Flow from Financing Activities
224,144
(46,681)
Other Non-Cash Items
(5,019)
79
NET CASH FLOW IN THE YEAR
23,341
(39,993)
Cash and Cash Equivalents net of Bank Overdrafts at beginning of the year
Note 9
(4,147)
52,291
Cash and Cash Equivalents net of Bank Overdrafts at beginning of the year (F.I.L.A. S.p.A.
merger contribution at May 31, 2015)
-
(16,446)
Cash and Cash Equivalents net of Bank Overdrafts at end of the year
Note 9
19,193
(4,147)
1)
Cash and cash equivalents at December 31, 2016 totalled Euro 19,193 thousand; current account overdrafts amounted
to Euro 0 thousand net of relative interest.
2)
Cash and cash equivalents at December 31, 2015 totalled Euro 1,139 thousand; current account overdrafts amounted
to Euro 5,286 thousand net of relative interest.
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