Consolidated Financial Statements of the F.I.L.A. Group
Separate Financial Statements of F.I.L.A. S.p.A.
112
Retained earnings/(accumulated losses)
The reserve totalled Euro 120,767 thousand and increased on the previous year Euro 34,343 thousand,
principally due to:
the allocation of the Share Premium Reserve of Euro 37,776 thousand, in coverage of prior
losses as per Shareholders’ Meeting motion of April 29, 2016;
the restoration of the market warrants reserve contributed by the company Space S.p.A. in
2014, representing the fair value of market warrants at the date of initial recognition (Euro
16,941 thousand). This restoration follows the conclusion of the market warrant exercise
period with their effective exercise by January 4, 2016;
the distribution of dividends to F.I.L.A. S.p.A. shareholders for Euro 3,711 thousand, as per
Shareholders’ Meeting motion of April 29, 2016;
the carrying forward of the loss for 2015 for Euro 16,633 thousand;
the reclassification to “Other Reserves” of Euro 3,823 thousand, for the correct presentation
and allocation of “Retained earnings/(accumulated losses)”.
Equity attributable to non-controlling interests
This increased Euro 522 thousand and principally concerns:
Non-controlling interest profit for the year of Euro 979 thousand,
Distribution of dividends to minorities of Euro 751 thousand;
Exchange gains of Euro 141 thousand.
Euro 172 thousand concerning the Equity attributable to non-controlling interests from the
“line by line” consolidation of Pioneer Stationery Private Ltd (India), held by Writefine
Products Private Ltd (India) 51%.
Basic and diluted earnings per share
The basic earnings per share is calculated by dividing the result of the Group by the weighted average
number of ordinary shares outstanding during the year, excluding any treasury shares in portfolio.
The diluted earnings/(loss) per share is calculated by dividing the result of the company by the
weighted average number of ordinary shares in circulation during the year and those potentially
arising from the conversion of all potential ordinary shares with dilutive effect.
The basis and diluted earnings per Share is reported in the Statement of Comprehensive Income, to
which reference should be made.
Consolidated Financial Statements of the F.I.L.A. Group
Separate Financial Statements of F.I.L.A. S.p.A.
113
The table below illustrates the reconciliation between the equity of the Parent F.I.L.A. S.p.A. and the
consolidated equity and the reconciliation between the result of the Parent F.I.L.A. S.p.A. and the
consolidated result:
Euro thousands
F.I.L.A. S.p.A. Equity
161,841
Effect elimination intercompany margins
(2,494)
Consolidation effect Omyacolor S.A. (France)
9,093
Consolidation effect F.I.L.A. Hispania S.A. (Spain)
3,190
Consolidation efffect Licyn Mercantil Industrial Ltda (Brazil)
(3,501)
Consolidation effect Dixon Ticonderoga group
63,481
Consolidation effect Lyra group
236
Consolidation effect FILA Stationary and Office Equipment Industry Ltd. Co. (Turkey)
(2,094)
Consolidation effect FILA Stationary O.O.O. (Russia)
(832)
Consolidation effect FILA Hellas (Greece)
661
Consolidation effect Industria Maimeri S.p.A. (Italy)
225
Consolidation effect FILA Cartorama S.A. (South Africa)
(872)
Consolidation effect Fila Polska Sp. Z.o.o (Poland)
153
Consolidation effect Writefine Private Limited (India)
22,418
Consolidation effect Daler & Rowney group
(9,904)
Consolidation effect Pioneer Stationary Pvt Ltd (India)
81
Consolidation effect St Cutbert Holding (England)
(82)
Consolidation effect FILA Hiberia S.L. (Spain)
(69)
Consolidation effect Canson
(2,560)
Total Equity
238,970
“Non-controlling interest” consolidation effect
24,489
F.I.L.A. Group Equity
214,481
Reconciliation at December 31, 2016 between Parent Equity and F.I.L.A. Group Equity
Consolidated Financial Statements of the F.I.L.A. Group
Separate Financial Statements of F.I.L.A. S.p.A.
114
Euro thousands
F.I.L.A. S.p.A. Net Profit
11,426
Result of Subsidiaries of the Parent Company
28,258
Elimination of the effects of transactions between consolidated companies:
Dividends
12,855
Net Inventory Margins
(1,215)
Deferred Taxes on plannned dividends
125
Other Net Revenue
208
Adjustments to Group accounting standards:
Consolidation Daler & Rowney Group - IFRS 3
(1,208)
Consolidation Pioneer Stationary Pvt Ltd - IFRS 3
(22)
Consolidation St. Cuthbert Holding - IFRS 3
(346)
Consolidation Canson Group - IFRS 3
(2,399)
Total Net Result
21,972
Non-controlling interest share
979
F.I.L.A. Group Net Profit
20,993
Reconciliation at December 31, 2016 between Parent Result and F.I.L.A. Group Result
Note 13 - Financial Liabilities
The balance at December 31, 2016 amounts to Euro 283,586 thousand (Euro 70,049 thousand at
December 31, 2015), of which Euro 190,052 thousand long-term and Euro 93,534 thousand short-
term. The account refers to both non-current and current portions of the loans granted by banking
institutions, other lenders and bank overdrafts.
The breakdown at December 31, 2016 is illustrated below.
Euro thousands
Principal
Interest
Principal
Interest
Principal
Interest
December 31, 2015
56,168
99
607
4
13,141
30
70,049
non-current portion
1,404
-
106
-
-
-
1,510
current portion
54,764
99
501
4
13,141
30
68,539
December 31, 2016
266,020
(4,660)
16,649
(2)
5,546
34
283,586
non-current portion
194,768
(4,866)
164
(14)
-
-
190,052
current portion
71,252
205
16,485
12
5,546
34
93,534
Change
209,852
(4,760)
16,042
(6)
(7,595)
4
213,537
non-current portion
193,364
(4,866)
58
(14)
-
-
188,542
current portion
16,488
106
15,984
8
(7,595)
4
24,995
Note 13.A - FINANCIAL LIABILITIES: Third Parties
Banks
Other Lenders
Bank Overdrafts
Total
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