MIRA INFORM REPORT
|
Report Date : |
08.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
ERCROS SA |
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Registered Office : |
Av. Diagonal, 595, Barcelona, 08014 |
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Country : |
Spain |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
30.06.1989 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
Subject is engaged in the chemical industry |
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No. of Employees : |
1629 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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Litigation : |
---- |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Spain |
a2 |
a2 |
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Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Ercros SA
Av. Diagonal, 595
Barcelona, 08014
Spain
Tel: 34-934-393009
Fax: 34-934-308073
Web: www.ercros.es
synthesis
Employees: 1629
Corporate Family: 3
Companies
Traded: Mercado Continuo Espana: ECR
Incorporation Date:
30-Jun-1989
Auditor: Ernst & Young SA
Financials in: USD
(Millions)
Fiscal Year End: 31-Dec-2010
Reporting Currency: Euro
Annual Sales: 819.2
1
Net Income: (16.5)
Total Assets: 840.7 2
Market Value: 109.4
(30-Sep-2011)
Business Description
Ercros SA is a
Spain-based company that, along with its subsidiaries and affiliates, is
engaged in the chemical industry. Its products are structured in five business
lines: Basic Chemicals, including chlorine, ethyl acetate, caustic soda, sodium
hypochlorite, dichloroethane, chloromethane, sodium chlorate and caustic
potash, as well as water disinfectants; Intermediate Chemicals, producing glues
and resins for the fiberboard and plywood industries; Plastics, focused on the
production of polyvinyl chloride (PCV); Pharmaceuticals, comprising raw
material and intermediate products used in the pharmaceutical industry; and
Animal Feed, providing phosphates used as an additive in the manufacture of
supplements and compound fodder. The Company exports its products to 125
countries, such as France, Italy, Portugal, Germany, Turkey, Belgium, Brazil,
India, China and Greece. For the six months ended 30 June 2011, Ercros S.A.'s
total revenue increased 24% to EUR372M. Net income from continuing operations
totaled EUR6.1M, vs. a loss of EUR10.1M. Total revenue reflects an increased
demand for the Company's products and services in the Business Related to
Chlorine and Pharmaceutical business segments. Net income from continuing
operations reflects improved operating profit margin.
Industry
Industry Chemical Manufacturing
ANZSIC 2006: 1812 - Basic
Organic Chemical Manufacturing
NACE 2002: 2414 - Manufacture
of other organic basic chemicals
NAICS 2002: 325199 - All Other
Basic Organic Chemical Manufacturing
UK SIC 2003: 2414 - Manufacture
of other organic basic chemicals
US SIC 1987: 2869 - Industrial
Organic Chemicals, Not Elsewhere Classified
Key Executives
|
Name |
Title |
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Chairman of the Board, Chief Executive Officer |
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Pedro Rodriguez Sanchez |
Chief Financial and Economic Officer |
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Teresa Conesa Fabregues |
General Secretary |
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Eduardo Gual de Diego |
Chief Information and Systems Officer |
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Josep Mota Balcells |
Chief Technology and Innovations Officer |
Significant Developments
|
Topic |
#* |
Most Recent Headline |
Date |
|
1 |
2-Nov-2010 |
* number of significant developments within the last 12 months
News
|
Title |
Date |
|
Companiesandmarkets.com:
Developing Economies Driving Vinyls Demand; Buoying Prospects in the
Dichloroethane Market |
5-Oct-2011 |
|
Tessenderlo
Chemie NV exits commodities and transforms into a global specialty group
Conference Call - Final |
31-Aug-2011 |
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Global
Dichloroethane Market to Reach 53.8 Million Metric Tons in 2017, According to
New Report by Global Industry Analysts, Inc. |
24-Aug-2011 |
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Ercros
posts EUR 6.14m net profit in H1 2011 |
28-Jul-2011 |
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Spain
Ercros, German Seeger to invest EUR 52.6m in bioenergy |
6-Jun-2011 |
Financial summary
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Stock Snapshot
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Corporate
Family |
Corporate Structure
News: |
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Total Corporate
Family Members: 3 |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Barcelona |
Spain |
Chemical Manufacturing |
819.2 |
1,629 |
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Subsidiary |
Barcelona |
Spain |
Chemical Manufacturing |
747.8 |
1,040 |
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Subsidiary |
Recklinghausen, Nordrhein-Westfalen |
Germany |
Fabricated Plastic and Rubber |
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50 |
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Executive report
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Board
of Directors |
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Chairman of the Board, Chief Executive
Officer |
Chairman |
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Independent Director |
Director/Board Member |
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Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Executives |
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Chairman of the Board, Chief Executive
Officer |
Chief Executive Officer |
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Director General Adjunto a la Presidencia |
President |
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Manager, Water Treatment Division |
Division Head Executive |
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Director of the Pharmaceuticals Division |
Division Head Executive |
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Director of the Plastics Division |
Division Head Executive |
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Director of the Basic Chemicals Division |
Division Head Executive |
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Director of the Animal Feed Division |
Division Head Executive |
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Director de la División de Emulsiones |
Division Head Executive |
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Director of the Intermediate Chemicals
Division |
Division Head Executive |
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Chief Administrative Officer |
Administration Executive |
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General Secretary |
Company Secretary |
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Director of Legal Affairs, Non-Member
Secretary of the Board |
Company Secretary |
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Finance Director |
Finance Executive |
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Chief Financial and Economic Officer |
Finance Executive |
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Director of Planning and Control, Internal
Auditor |
Accounting Executive |
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Human Resources Manager |
Human Resources Executive |
GW |
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Director of Human Resources |
Human Resources Executive |
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Chief Information and Systems Officer |
Information Executive |
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Chief Technology and Innovations Officer |
Engineering/Technical Executive |
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Director of Integrated Logistics |
Logistics Executive |
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General Director of Business |
Other |
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Director of Sustainable Development |
Other |
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Significant Developments
Ercros SA Announces
Sale of Its Ercros Deutschland GmbH Nov 02, 2010
Ercros SA announced that it has sold its Germany-based subsidiary Ercros Deutschland GmbH, which was active in the operation of the Company's emulsions business, at a value of EUR 9.2 million. Other details were not disclosed.
Ercros posts EUR 6.14m
net profit in H1 2011
ADP Spain News
28 July 2011
[What follows is the
full text of the news story.]
(SeeNews) - Jul 28, 2011 - Spanish chemicals group Ercros SA (MCE:ECR) posted a EUR 6.14 million (USD 8.77m) net profit in the first half of 2011, versus a loss of EUR 9.55 million registered a year ago.
Revenue stood at EUR 380 million, up 23.7% on the year, while earnings before interest, tax, depreciation and amortisation (EBITDA) came in at EUR 19.31 million.
Ercros attributed the good results to its favourable performance abroad and to costs savings. Ercros believes that the positive trend will be kept in the second half of the year as well.
(EUr 1.0 = USD 1.428)
Related Companies
Ercros, SA [profile]
Related Topics
Earnings & Financial Performance
Finance & Accounting Standards
Financial Markets
Mergers and Acquisitions
Related Industries
· 2800 Chemicals & allied products
· 2890 Miscellaneous chemical products Chemical Manufacturing [profile]
· 24300 Manufacture of paints, varnishes and similar coatings, printing ink and mastics
· 2530 Basic Chemical Manufacturing
· 2540 Other Chemical Product Manufacturing
Press clippings
Spain Ercros,
German Seeger to invest EUR 52.6m in bioenergy
ADP Spain News
06 June 2011
[What follows is
the full text of the news story.]
(ADPnews) - Jun 6,
2011 - Spanish chemical group Ercros SA (MCE:ECR) and German biomass power
producer Seeger Engineering signed a deal to invest EUR 52.6 million (USD 77m)
in bioenergy undertakings at Flix, in the northern region of Catalonia.
The two companies
will build a 6-MW biomass co-generation plant and a pellet plant with an annual
capacity of 100,000 tonnes, Ercros said in a statement on Friday.
The plants will be
built close to Ercros's facility in Flix, which produces chlorine and caustic
soda.
Currently, the
technological and financial offers are being considered, Ercros noted. The
construction works are expected to start in 2012 at the latest.
(EUR 1 = USD 1.464)
Related Companies
Ercros, SA [profile]
Related Industries
2800 Chemicals & allied products
2890 Miscellaneous chemical products
Chemical Manufacturing [profile]
24300 Manufacture of paints, varnishes and similar coatings, printing ink and mastics
2530 Basic Chemical Manufacturing
2540 Other Chemical Product Manufacturing
Ercros turns to
EUR 2.96m profit in Q1 2011
ADP Spain News
11 May 2011
[What follows is
the full text of the news story.]
(ADPnews) - May
11, 2011 - Spanish chemical group Ercros SA (MCE:ECR) turned to a
EUR-2.96-million (USD 4.26m) profit in the first quarter of 2011 versus a loss
of EUR 7.28 million posted a year ago.
Ercros increased
its revenue by 26% year-on-year to EUR 178.43 million, the company said today
in a filing with the national stock market regulator CNMV.
The rise in the
revenue was explained with the rise in demand in the international markets as
well as with the high prices.
The earnings
before interest, tax, depreciation and amortisation (EBITDA) came in at EUR
9.51 million, against a loss before interest, tax, depreciation and
amortisation (LBITDA) of EUR 1.22 million in the first quarter of 2010.
(EUR 1.0 = USD 1.439)
Related Companies
Ercros, SA [profile]
Related Topics
Earnings & Financial Performance
Finance & Accounting Standards
Financial Markets
Related Industries
· 2800 Chemicals & allied products
· 2890 Miscellaneous chemical products Chemical Manufacturing [profile]
· 24300 Manufacture of paints, varnishes and similar coatings, printing ink and mastics
· 2530 Basic Chemical Manufacturing
· 2540 Other Chemical Product Manufacturing
Annual
Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
Ernst &
Young SA |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
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Net Sales |
806.9 |
792.5 |
1,220.8 |
1,161.4 |
904.7 |
|
Revenue |
806.9 |
792.5 |
1,220.8 |
1,161.4 |
904.7 |
|
Other Revenue |
12.3 |
50.7 |
30.0 |
29.4 |
57.1 |
|
Other Revenue, Total |
12.3 |
50.7 |
30.0 |
29.4 |
57.1 |
|
Total Revenue |
819.2 |
843.2 |
1,250.7 |
1,190.9 |
961.7 |
|
|
|
|
|
|
|
|
Cost of Revenue |
409.9 |
400.5 |
692.7 |
604.8 |
450.5 |
|
Cost of Revenue, Total |
409.9 |
400.5 |
692.7 |
604.8 |
450.5 |
|
Gross Profit |
397.0 |
392.0 |
528.1 |
556.6 |
454.2 |
|
|
|
|
|
|
|
|
Labor & Related Expense |
117.5 |
147.7 |
155.7 |
186.4 |
136.1 |
|
Total Selling/General/Administrative Expenses |
117.5 |
147.7 |
155.7 |
186.4 |
136.1 |
|
Depreciation |
25.6 |
23.4 |
57.3 |
56.0 |
50.8 |
|
Depreciation/Amortization |
25.6 |
23.4 |
57.3 |
56.0 |
50.8 |
|
Litigation |
0.2 |
22.6 |
- |
- |
- |
|
Impairment-Assets Held for Use |
- |
- |
290.0 |
- |
- |
|
Unusual Expense (Income) |
0.2 |
22.6 |
290.0 |
- |
- |
|
Other Operating Expense |
277.4 |
313.8 |
341.2 |
361.5 |
304.5 |
|
Other Operating Expenses, Total |
277.4 |
313.8 |
341.2 |
361.5 |
304.5 |
|
Total Operating Expense |
830.6 |
908.0 |
1,537.0 |
1,208.7 |
941.9 |
|
|
|
|
|
|
|
|
Operating Income |
-11.4 |
-64.8 |
-286.2 |
-17.8 |
19.9 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-0.4 |
-0.9 |
-1.8 |
-1.3 |
-1.4 |
|
Interest Expense, Net Non-Operating |
-0.4 |
-0.9 |
-1.8 |
-1.3 |
-1.4 |
|
Interest Income -
Non-Operating |
0.0 |
0.0 |
0.8 |
32.5 |
1.5 |
|
Investment Income -
Non-Operating |
0.3 |
-1.3 |
-1.1 |
-1.5 |
-0.1 |
|
Interest/Investment Income - Non-Operating |
0.3 |
-1.3 |
-0.3 |
31.0 |
1.4 |
|
Interest Income (Expense) - Net Non-Operating Total |
-0.1 |
-2.1 |
-2.1 |
29.7 |
0.1 |
|
Other Non-Operating Income (Expense) |
-6.8 |
-2.4 |
-9.1 |
-57.5 |
-16.9 |
|
Other, Net |
-6.8 |
-2.4 |
-9.1 |
-57.5 |
-16.9 |
|
Income Before Tax |
-18.3 |
-69.4 |
-297.4 |
-45.6 |
3.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
0.1 |
1.5 |
0.0 |
0.3 |
-3.1 |
|
Income After Tax |
-18.4 |
-70.9 |
-297.4 |
-45.9 |
6.1 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.3 |
0.5 |
-0.5 |
1.0 |
-0.5 |
|
Net Income Before Extraord Items |
-18.6 |
-70.4 |
-297.9 |
-44.8 |
5.6 |
|
Discontinued Operations |
2.1 |
1.6 |
0.4 |
- |
- |
|
Total Extraord Items |
2.1 |
1.6 |
0.4 |
- |
- |
|
Net Income |
-16.5 |
-68.8 |
-297.5 |
-44.8 |
5.6 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
-18.6 |
-70.4 |
-297.9 |
-44.8 |
5.6 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-16.5 |
-68.8 |
-297.5 |
-44.8 |
5.6 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
100.6 |
100.6 |
100.6 |
100.6 |
67.6 |
|
Basic EPS Excl Extraord Items |
-0.19 |
-0.70 |
-2.96 |
-0.45 |
0.08 |
|
Basic/Primary EPS Incl Extraord Items |
-0.16 |
-0.68 |
-2.96 |
-0.45 |
0.08 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
-16.5 |
-68.8 |
-297.5 |
-44.8 |
5.6 |
|
Diluted Weighted Average Shares |
100.6 |
100.6 |
100.6 |
100.6 |
67.6 |
|
Diluted EPS Excl Extraord Items |
-0.19 |
-0.70 |
-2.96 |
-0.45 |
0.08 |
|
Diluted EPS Incl Extraord Items |
-0.16 |
-0.68 |
-2.96 |
-0.45 |
0.08 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
0.4 |
0.9 |
1.8 |
1.3 |
1.4 |
|
Depreciation, Supplemental |
25.0 |
22.6 |
57.6 |
56.0 |
50.8 |
|
Total Special Items |
0.2 |
22.6 |
290.0 |
- |
- |
|
Normalized Income Before Tax |
-18.1 |
-46.7 |
-7.4 |
-45.6 |
3.0 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.1 |
7.9 |
101.5 |
- |
- |
|
Inc Tax Ex Impact of Sp Items |
0.2 |
9.5 |
101.5 |
0.3 |
-3.1 |
|
Normalized Income After Tax |
-18.2 |
-56.2 |
-108.8 |
-45.9 |
6.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-18.5 |
-55.7 |
-109.4 |
-44.8 |
5.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.18 |
-0.55 |
-1.09 |
-0.45 |
0.08 |
|
Diluted Normalized EPS |
-0.18 |
-0.55 |
-1.09 |
-0.45 |
0.08 |
|
Amort of Intangibles, Supplemental |
0.6 |
0.5 |
0.2 |
- |
- |
|
Rental Expenses |
13.5 |
16.0 |
17.6 |
- |
- |
|
Advertising Expense, Supplemental |
0.6 |
0.9 |
1.1 |
- |
- |
|
Research & Development Exp, Supplemental |
0.4 |
0.4 |
0.6 |
- |
- |
|
Normalized EBIT |
-11.2 |
-42.2 |
3.8 |
-17.8 |
19.9 |
|
Normalized EBITDA |
14.4 |
-19.0 |
61.6 |
38.1 |
70.7 |
|
Current Tax - Total |
0.3 |
0.2 |
-0.8 |
0.2 |
1.4 |
|
Current Tax - Total |
0.3 |
0.2 |
-0.8 |
0.2 |
1.4 |
|
Deferred Tax - Total |
-0.2 |
1.3 |
0.8 |
0.1 |
-4.5 |
|
Deferred Tax - Total |
-0.2 |
1.3 |
0.8 |
0.1 |
-4.5 |
|
Income Tax - Total |
0.1 |
1.5 |
0.0 |
0.3 |
-3.1 |
Annual Balance
Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
0.683971 |
0.758351 |
|
Auditor |
Ernst &
Young SA |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
23.4 |
21.0 |
3.0 |
49.3 |
6.2 |
|
Cash and Short Term Investments |
23.4 |
21.0 |
3.0 |
49.3 |
6.2 |
|
Accounts Receivable -
Trade, Gross |
224.3 |
217.7 |
309.8 |
42.7 |
29.7 |
|
Provision for Doubtful
Accounts |
-14.0 |
-14.6 |
-10.5 |
- |
- |
|
Trade Accounts Receivable - Net |
210.4 |
203.1 |
299.3 |
315.7 |
279.9 |
|
Total Receivables, Net |
210.4 |
203.1 |
299.3 |
315.7 |
279.9 |
|
Inventories - Finished Goods |
49.0 |
71.5 |
103.9 |
97.9 |
80.5 |
|
Inventories - Other |
41.6 |
34.7 |
53.2 |
54.5 |
55.1 |
|
Total Inventory |
90.7 |
106.1 |
157.1 |
152.3 |
135.5 |
|
Restricted Cash - Current |
22.3 |
30.0 |
35.8 |
- |
- |
|
Discontinued Operations - Current Asset |
0.0 |
14.0 |
0.0 |
60.1 |
52.2 |
|
Other Current Assets |
22.9 |
26.3 |
13.3 |
42.1 |
29.2 |
|
Other Current Assets, Total |
45.2 |
70.2 |
49.1 |
102.2 |
81.4 |
|
Total Current Assets |
369.7 |
400.5 |
508.5 |
619.5 |
503.0 |
|
|
|
|
|
|
|
|
Land/Improvements |
279.6 |
302.6 |
325.8 |
340.3 |
311.6 |
|
Machinery/Equipment |
1,302.4 |
1,398.9 |
1,282.7 |
1,347.3 |
1,200.1 |
|
Construction in
Progress |
21.4 |
31.5 |
50.2 |
23.3 |
26.4 |
|
Other
Property/Plant/Equipment |
30.6 |
35.2 |
34.9 |
36.6 |
34.4 |
|
Property/Plant/Equipment - Gross |
1,633.9 |
1,768.2 |
1,693.6 |
1,747.5 |
1,572.5 |
|
Accumulated Depreciation |
-978.4 |
-1,048.9 |
-1,001.9 |
-1,007.0 |
-873.5 |
|
Property/Plant/Equipment - Net |
655.5 |
719.3 |
691.7 |
740.6 |
699.0 |
|
Goodwill, Net |
0.1 |
0.1 |
0.0 |
0.1 |
0.1 |
|
Intangibles - Gross |
24.5 |
23.9 |
24.3 |
21.4 |
21.4 |
|
Accumulated Intangible Amortization |
-11.8 |
-12.2 |
-11.8 |
-12.3 |
-11.9 |
|
Intangibles, Net |
12.7 |
11.7 |
12.5 |
9.1 |
9.5 |
|
LT Investment - Affiliate Companies |
6.1 |
6.6 |
6.4 |
6.6 |
4.3 |
|
LT Investments - Other |
45.4 |
49.1 |
22.8 |
42.1 |
103.4 |
|
Long Term Investments |
51.6 |
55.7 |
29.1 |
48.7 |
107.8 |
|
Deferred Charges |
- |
- |
- |
0.8 |
6.3 |
|
Deferred Income Tax - Long Term Asset |
4.6 |
4.8 |
6.0 |
5.5 |
5.2 |
|
Other Long Term Assets |
-253.4 |
-273.6 |
-265.1 |
-36.8 |
-4.6 |
|
Other Long Term Assets, Total |
-248.8 |
-268.8 |
-259.1 |
-30.4 |
6.9 |
|
Total Assets |
840.7 |
918.4 |
982.8 |
1,387.5 |
1,326.3 |
|
|
|
|
|
|
|
|
Accounts Payable |
190.2 |
195.0 |
187.0 |
215.6 |
212.1 |
|
Accrued Expenses |
23.6 |
19.1 |
9.3 |
- |
- |
|
Notes Payable/Short Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
147.7 |
60.9 |
115.2 |
124.7 |
230.3 |
|
Income Taxes Payable |
- |
- |
- |
0.0 |
0.2 |
|
Discontinued Operations - Current Liability |
0.0 |
3.1 |
0.0 |
- |
- |
|
Other Current Liabilities |
41.5 |
15.9 |
72.0 |
86.9 |
102.7 |
|
Other Current liabilities, Total |
41.5 |
19.0 |
72.0 |
86.9 |
102.9 |
|
Total Current Liabilities |
403.1 |
294.1 |
383.6 |
427.2 |
545.4 |
|
|
|
|
|
|
|
|
Long Term Debt |
1.0 |
103.2 |
101.9 |
113.5 |
160.9 |
|
Capital Lease Obligations |
1.4 |
2.8 |
1.8 |
3.0 |
1.7 |
|
Total Long Term Debt |
2.4 |
106.0 |
103.7 |
116.5 |
162.6 |
|
Total Debt |
150.1 |
166.9 |
219.0 |
241.3 |
393.0 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
49.4 |
52.5 |
49.3 |
52.6 |
48.3 |
|
Deferred Income Tax |
49.4 |
52.5 |
49.3 |
52.6 |
48.3 |
|
Minority Interest |
0.6 |
0.4 |
1.8 |
1.3 |
2.6 |
|
Reserves |
57.1 |
90.9 |
70.1 |
100.5 |
82.8 |
|
Other Long Term Liabilities |
71.0 |
80.1 |
18.6 |
13.5 |
12.5 |
|
Other Liabilities, Total |
128.0 |
171.1 |
88.7 |
114.0 |
95.3 |
|
Total Liabilities |
583.5 |
624.1 |
627.1 |
711.7 |
854.2 |
|
|
|
|
|
|
|
|
Common Stock |
40.5 |
231.0 |
503.5 |
529.6 |
341.2 |
|
Common Stock |
40.5 |
231.0 |
503.5 |
529.6 |
341.2 |
|
Additional Paid-In Capital |
- |
0.0 |
151.7 |
159.6 |
90.9 |
|
Retained Earnings (Accumulated Deficit) |
236.9 |
84.8 |
-278.7 |
8.5 |
52.1 |
|
Other Equity |
-20.1 |
-21.5 |
-20.8 |
-21.9 |
-12.1 |
|
Other Equity, Total |
-20.1 |
-21.5 |
-20.8 |
-21.9 |
-12.1 |
|
Total Equity |
257.3 |
294.3 |
355.7 |
675.8 |
472.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
840.7 |
918.4 |
982.8 |
1,387.5 |
1,326.3 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
100.6 |
100.6 |
100.6 |
100.6 |
76.7 |
|
Total Common Shares Outstanding |
100.6 |
100.6 |
100.6 |
100.6 |
76.7 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
- |
- |
- |
|
Employees |
1,610 |
1,713 |
1,898 |
2,100 |
2,162 |
|
Accumulated Intangible Amort, Suppl. |
11.8 |
12.2 |
11.9 |
12.3 |
11.9 |
|
Total Long Term Debt, Supplemental |
51.6 |
61.2 |
117.9 |
137.0 |
393.0 |
|
Long Term Debt Maturing within 1 Year |
50.7 |
59.4 |
113.3 |
124.7 |
230.3 |
|
Long Term Debt Maturing in Year 2 |
0.0 |
0.9 |
2.7 |
7.6 |
36.0 |
|
Long Term Debt Maturing in Year 3 |
1.0 |
0.4 |
1.0 |
2.8 |
30.9 |
|
Long Term Debt Maturing in Year 4 |
0.0 |
0.5 |
0.4 |
1.4 |
28.1 |
|
Long Term Debt Maturing in Year 5 |
0.0 |
0.1 |
0.2 |
0.2 |
27.0 |
|
Long Term Debt Maturing in 2-3 Years |
1.0 |
1.3 |
3.7 |
10.4 |
66.9 |
|
Long Term Debt Maturing in 4-5 Years |
0.0 |
0.5 |
0.6 |
1.7 |
55.1 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.0 |
0.3 |
0.2 |
40.6 |
|
Total Capital Leases, Supplemental |
2.8 |
4.3 |
3.7 |
4.4 |
- |
|
Capital Lease Payments Due in Year 1 |
1.4 |
1.5 |
1.9 |
1.4 |
- |
|
Capital Lease Payments Due in Year 2 |
0.8 |
1.0 |
0.8 |
1.0 |
- |
|
Capital Lease Payments Due in Year 3 |
0.5 |
0.6 |
0.7 |
0.7 |
- |
|
Capital Lease Payments Due in Year 4 |
0.1 |
0.3 |
0.3 |
0.7 |
- |
|
Capital Lease Payments Due in 2-3 Years |
1.3 |
1.6 |
1.5 |
1.7 |
- |
|
Capital Lease Payments Due in 4-5 Years |
0.1 |
0.3 |
0.3 |
0.7 |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.0 |
0.9 |
0.0 |
0.6 |
- |
|
Total Operating Leases, Supplemental |
1.0 |
1.1 |
2.3 |
- |
- |
|
Operating Lease Payments Due in Year 1 |
1.0 |
1.1 |
1.2 |
- |
- |
|
Operating Lease Payments Due in Year 2 |
0.0 |
- |
1.2 |
- |
- |
|
Operating Lease Pymts. Due in 2-3 Years |
0.0 |
- |
1.2 |
- |
- |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
0.0 |
0.0 |
0.0 |
- |
- |
Annual
Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
Ernst &
Young SA |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
-18.3 |
-70.9 |
-297.4 |
-45.6 |
19.9 |
|
Depreciation |
25.6 |
23.4 |
58.1 |
56.0 |
- |
|
Depreciation/Depletion |
25.6 |
23.4 |
58.1 |
56.0 |
- |
|
Amortization of Intangibles |
- |
- |
- |
- |
50.8 |
|
Amortization of Acquisition Costs |
- |
- |
- |
- |
-32.9 |
|
Amortization |
- |
- |
- |
- |
17.9 |
|
Discontinued Operations |
2.1 |
1.6 |
0.4 |
- |
- |
|
Unusual Items |
-10.6 |
-24.9 |
285.3 |
34.1 |
- |
|
Other Non-Cash Items |
4.1 |
43.9 |
17.0 |
40.8 |
15.4 |
|
Non-Cash Items |
-4.4 |
20.6 |
302.7 |
74.9 |
15.4 |
|
Accounts Receivable |
-21.0 |
81.8 |
-3.0 |
10.7 |
-11.1 |
|
Inventories |
13.1 |
35.4 |
-26.1 |
-3.3 |
-17.3 |
|
Other Assets |
1.7 |
-13.4 |
26.2 |
0.7 |
- |
|
Accounts Payable |
-2.0 |
0.8 |
-24.3 |
-18.4 |
-40.5 |
|
Other Liabilities |
-3.3 |
6.1 |
-26.4 |
-22.4 |
- |
|
Other Operating Cash Flow |
-5.4 |
-27.0 |
-9.9 |
-30.6 |
-2.5 |
|
Changes in Working Capital |
-16.8 |
83.8 |
-63.5 |
-63.2 |
-71.4 |
|
Cash from Operating Activities |
-14.0 |
56.9 |
0.0 |
22.0 |
-18.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-10.7 |
-50.9 |
-56.6 |
-30.7 |
-29.0 |
|
Purchase/Acquisition of Intangibles |
0.0 |
-2.3 |
-1.1 |
-4.5 |
0.0 |
|
Capital Expenditures |
-10.7 |
-53.2 |
-57.7 |
-35.2 |
-29.0 |
|
Acquisition of Business |
0.0 |
-1.7 |
0.0 |
- |
- |
|
Sale of Fixed Assets |
2.8 |
0.1 |
0.5 |
0.0 |
- |
|
Sale/Maturity of Investment |
0.5 |
2.9 |
0.7 |
3.2 |
- |
|
Purchase of Investments |
0.0 |
-0.8 |
-1.0 |
-2.7 |
-3.3 |
|
Sale of Intangible Assets |
2.1 |
2.9 |
4.8 |
0.0 |
0.4 |
|
Other Investing Cash Flow |
12.2 |
0.0 |
60.9 |
0.0 |
7.5 |
|
Other Investing Cash Flow Items, Total |
17.5 |
3.4 |
65.9 |
0.5 |
4.5 |
|
Cash from Investing Activities |
6.8 |
-49.8 |
8.2 |
-34.7 |
-24.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
- |
- |
0.0 |
-17.3 |
|
Financing Cash Flow Items |
- |
- |
- |
0.0 |
-17.3 |
|
Cash Dividends Paid - Common |
-0.8 |
-1.7 |
-5.0 |
- |
- |
|
Total Cash Dividends Paid |
-0.8 |
-1.7 |
-5.0 |
- |
- |
|
Sale/Issuance of
Common |
- |
- |
0.0 |
188.4 |
- |
|
Common Stock, Net |
- |
- |
0.0 |
188.4 |
- |
|
Issuance (Retirement) of Stock, Net |
- |
- |
0.0 |
188.4 |
- |
|
Long Term Debt Issued |
8.5 |
56.0 |
124.3 |
110.8 |
98.8 |
|
Long Term Debt
Reduction |
-2.4 |
-50.8 |
-136.0 |
-246.8 |
-35.6 |
|
Long Term Debt, Net |
6.1 |
5.2 |
-11.7 |
-136.0 |
63.3 |
|
Issuance (Retirement) of Debt, Net |
6.1 |
5.2 |
-11.7 |
-136.0 |
63.3 |
|
Cash from Financing Activities |
5.3 |
3.5 |
-16.6 |
52.4 |
45.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
- |
- |
- |
- |
-0.2 |
|
Net Change in Cash |
-1.9 |
10.6 |
-8.5 |
39.7 |
3.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
47.1 |
38.8 |
49.3 |
6.4 |
2.9 |
|
Net Cash - Ending Balance |
45.2 |
49.5 |
40.9 |
46.2 |
5.9 |
|
Cash Interest Paid |
5.5 |
6.2 |
12.3 |
19.0 |
17.3 |
|
Cash Taxes Paid |
1.0 |
0.0 |
0.2 |
0.2 |
0.2 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
Ernst &
Young SA |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales of Products |
806.9 |
792.5 |
1,220.8 |
1,156.0 |
904.7 |
|
Service / Income |
- |
- |
- |
5.4 |
- |
|
Other Op. Income |
12.3 |
50.7 |
30.0 |
29.4 |
57.1 |
|
Total Revenue |
819.2 |
843.2 |
1,250.7 |
1,190.9 |
961.7 |
|
|
|
|
|
|
|
|
Gains/Stocks |
12.9 |
-8.7 |
-4.1 |
- |
-10.0 |
|
Consumption |
397.0 |
409.2 |
696.8 |
604.8 |
460.5 |
|
Personnel Expenses |
117.5 |
147.7 |
155.7 |
186.4 |
136.1 |
|
Depreciation/Amortization |
25.6 |
23.4 |
57.3 |
56.0 |
50.8 |
|
Other Op. Expenses |
277.4 |
313.8 |
341.2 |
361.5 |
304.5 |
|
Litigation |
0.2 |
22.6 |
- |
- |
- |
|
Assets Impairment |
- |
- |
290.0 |
- |
- |
|
Total Operating Expense |
830.6 |
908.0 |
1,537.0 |
1,208.7 |
941.9 |
|
|
|
|
|
|
|
|
Interest Income |
0.0 |
0.0 |
0.8 |
32.5 |
1.5 |
|
Other Financial Income |
0.6 |
3.9 |
3.9 |
- |
1.1 |
|
Financial Expenses |
-7.4 |
-6.3 |
-12.9 |
-21.5 |
-18.0 |
|
Interest Expense |
-0.4 |
-0.9 |
-1.8 |
-1.3 |
-1.4 |
|
FOREX, Net |
0.3 |
-1.3 |
-1.1 |
-1.9 |
-0.2 |
|
Losses/Gains Equity Meth. |
- |
- |
- |
0.4 |
0.1 |
|
Assets Write-Down |
- |
- |
- |
-36.0 |
0.0 |
|
Net Income Before Taxes |
-18.3 |
-69.4 |
-297.4 |
-45.6 |
3.0 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
0.1 |
1.5 |
0.0 |
0.3 |
-3.1 |
|
Net Income After Taxes |
-18.4 |
-70.9 |
-297.4 |
-45.9 |
6.1 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.3 |
0.5 |
-0.5 |
1.0 |
-0.5 |
|
Net Income Before Extra. Items |
-18.6 |
-70.4 |
-297.9 |
-44.8 |
5.6 |
|
Discontinued Operations |
2.1 |
1.6 |
0.4 |
- |
- |
|
Net Income |
-16.5 |
-68.8 |
-297.5 |
-44.8 |
5.6 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
-18.6 |
-70.4 |
-297.9 |
-44.8 |
5.6 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-16.5 |
-68.8 |
-297.5 |
-44.8 |
5.6 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
100.6 |
100.6 |
100.6 |
100.6 |
67.6 |
|
Basic EPS Excluding ExtraOrdinary Items |
-0.19 |
-0.70 |
-2.96 |
-0.45 |
0.08 |
|
Basic EPS Including ExtraOrdinary Item |
-0.16 |
-0.68 |
-2.96 |
-0.45 |
0.08 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
-16.5 |
-68.8 |
-297.5 |
-44.8 |
5.6 |
|
Diluted Weighted Average Shares |
100.6 |
100.6 |
100.6 |
100.6 |
67.6 |
|
Diluted EPS Excluding ExtraOrd Items |
-0.19 |
-0.70 |
-2.96 |
-0.45 |
0.08 |
|
Diluted EPS Including ExtraOrd Items |
-0.16 |
-0.68 |
-2.96 |
-0.45 |
0.08 |
|
DPS-Ordinary Shares |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
-18.1 |
-46.7 |
-7.4 |
-45.6 |
3.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.2 |
9.5 |
101.5 |
0.3 |
-3.1 |
|
Normalized Income After Taxes |
-18.2 |
-56.2 |
-108.8 |
-45.9 |
6.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-18.5 |
-55.7 |
-109.4 |
-44.8 |
5.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.18 |
-0.55 |
-1.09 |
-0.45 |
0.08 |
|
Diluted Normalized EPS |
-0.18 |
-0.55 |
-1.09 |
-0.45 |
0.08 |
|
Interest Expense |
0.4 |
0.9 |
1.8 |
1.3 |
1.4 |
|
Depreciation |
25.0 |
22.6 |
57.6 |
56.0 |
50.8 |
|
Amortization of Intangibles |
0.6 |
0.5 |
0.2 |
- |
- |
|
Research & Development Exp, Supplemental |
0.4 |
0.4 |
0.6 |
- |
- |
|
Rental Expense, Supplemental |
13.5 |
16.0 |
17.6 |
- |
- |
|
Advertising Expense, Supplemental |
0.6 |
0.9 |
1.1 |
- |
- |
|
Current Tax, Total |
0.3 |
0.2 |
-0.8 |
0.2 |
1.4 |
|
Current Tax - Total |
0.3 |
0.2 |
-0.8 |
0.2 |
1.4 |
|
Deferred Tax, Total |
-0.2 |
1.3 |
0.8 |
0.1 |
-4.5 |
|
Deferred Tax - Total |
-0.2 |
1.3 |
0.8 |
0.1 |
-4.5 |
|
Income Tax - Total |
0.1 |
1.5 |
0.0 |
0.3 |
-3.1 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
0.683971 |
0.758351 |
|
Auditor |
Ernst & Young
SA |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Other Inventories |
41.6 |
34.7 |
53.2 |
54.5 |
53.3 |
|
Finished Goods |
49.0 |
71.5 |
103.9 |
97.9 |
80.5 |
|
Real Estate Development |
- |
- |
- |
0.0 |
1.8 |
|
Accounts Rcvbl. |
224.3 |
217.7 |
309.8 |
- |
- |
|
Provisions |
-14.0 |
-14.6 |
-10.5 |
- |
- |
|
Other Receivable |
- |
- |
- |
42.7 |
29.7 |
|
Accounts Receivable, Net |
- |
- |
- |
273.0 |
250.2 |
|
Cash and Equivalents |
23.4 |
21.0 |
3.0 |
49.3 |
6.2 |
|
Asset Securization Fund |
22.3 |
30.0 |
35.8 |
- |
- |
|
Other Assets |
22.9 |
26.3 |
13.3 |
42.1 |
29.2 |
|
Assets Held for Sale |
0.0 |
14.0 |
0.0 |
60.1 |
52.2 |
|
Total Current Assets |
369.7 |
400.5 |
508.5 |
619.5 |
503.0 |
|
|
|
|
|
|
|
|
Formation Exp. |
- |
- |
- |
0.8 |
6.3 |
|
Concessions |
- |
- |
- |
6.8 |
5.9 |
|
Software |
- |
- |
- |
8.9 |
6.3 |
|
Right Emissions |
- |
- |
- |
5.7 |
9.1 |
|
Other Intangibles |
- |
- |
- |
0.0 |
0.1 |
|
Intangibles |
24.5 |
23.9 |
24.3 |
- |
- |
|
Amort. Intangi. |
-11.8 |
-12.2 |
-11.8 |
-12.3 |
-11.9 |
|
Provisions |
-1.3 |
0.0 |
- |
-5.7 |
0.0 |
|
Land/Buildings |
279.6 |
302.6 |
325.8 |
340.3 |
311.6 |
|
Plant/Machine. |
1,302.4 |
1,398.9 |
1,282.7 |
1,347.3 |
1,200.1 |
|
Other Tangibles |
30.6 |
35.2 |
34.9 |
36.6 |
34.4 |
|
Work in Progress |
21.4 |
31.5 |
50.2 |
23.3 |
26.4 |
|
Depreciation |
-978.4 |
-1,048.9 |
-1,001.9 |
-1,007.0 |
-873.5 |
|
Provisions |
-252.1 |
-273.6 |
-265.1 |
-31.0 |
-4.6 |
|
Real Estate Investments |
28.6 |
30.5 |
14.8 |
31.6 |
28.7 |
|
LT Investments |
16.9 |
18.6 |
7.9 |
10.5 |
74.8 |
|
Invest./Equity |
6.1 |
6.6 |
6.4 |
6.6 |
4.3 |
|
Goodwill |
0.1 |
0.1 |
0.0 |
0.1 |
0.1 |
|
Deferred Tax |
4.6 |
4.8 |
6.0 |
5.5 |
5.2 |
|
Total Assets |
840.7 |
918.4 |
982.8 |
1,387.5 |
1,326.3 |
|
|
|
|
|
|
|
|
Bonds |
95.7 |
0.0 |
- |
- |
- |
|
Bank Loans |
50.7 |
59.4 |
113.3 |
123.3 |
228.6 |
|
Leasing Debts |
1.4 |
1.5 |
1.9 |
1.4 |
1.8 |
|
Accounts Payable |
187.1 |
187.5 |
181.8 |
215.6 |
212.1 |
|
Provisions |
5.0 |
12.7 |
14.3 |
5.5 |
16.1 |
|
Taxes |
- |
- |
- |
0.0 |
0.2 |
|
Other Current Liabilities |
36.5 |
3.2 |
57.8 |
81.4 |
86.6 |
|
Suppliers of Fixed Assets |
3.1 |
7.5 |
5.1 |
- |
- |
|
Public Adminstration |
11.8 |
12.5 |
2.8 |
- |
- |
|
Unpaid Wages |
11.8 |
6.6 |
6.5 |
- |
- |
|
Liabilities Held for Sale |
0.0 |
3.1 |
0.0 |
- |
- |
|
Total Current Liabilities |
403.1 |
294.1 |
383.6 |
427.2 |
545.4 |
|
|
|
|
|
|
|
|
Bonds |
0.0 |
102.3 |
99.1 |
104.3 |
0.0 |
|
Bank Loans |
1.0 |
0.8 |
2.8 |
9.3 |
160.9 |
|
Leasing Debts |
1.4 |
2.8 |
1.8 |
3.0 |
1.7 |
|
Total Long Term Debt |
2.4 |
106.0 |
103.7 |
116.5 |
162.6 |
|
|
|
|
|
|
|
|
Provisions |
57.1 |
90.9 |
70.1 |
100.5 |
82.8 |
|
Minority Int. |
0.6 |
0.4 |
1.8 |
1.3 |
2.6 |
|
Deferred Tax |
49.4 |
52.5 |
49.3 |
52.6 |
48.3 |
|
Other LT Liabilities |
71.0 |
80.1 |
18.6 |
13.5 |
12.5 |
|
Total Liabilities |
583.5 |
624.1 |
627.1 |
711.7 |
854.2 |
|
|
|
|
|
|
|
|
Share Capital |
40.5 |
231.0 |
503.5 |
529.6 |
341.2 |
|
Share Premium |
- |
0.0 |
151.7 |
159.6 |
90.9 |
|
Legal Reserve |
20.7 |
5.1 |
24.7 |
26.0 |
23.4 |
|
Difference Reserve |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Other Reserves |
233.8 |
151.4 |
-20.0 |
31.7 |
20.9 |
|
Valuation Reserve |
-1.1 |
-0.8 |
-0.8 |
-1.4 |
1.8 |
|
Capital Increase Exp. |
-20.1 |
-21.5 |
-20.8 |
-21.9 |
-12.1 |
|
Profit & Loss |
-16.7 |
-71.0 |
-282.7 |
-47.9 |
5.9 |
|
Total Equity |
257.3 |
294.3 |
355.7 |
675.8 |
472.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
840.7 |
918.4 |
982.8 |
1,387.5 |
1,326.3 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
100.6 |
100.6 |
100.6 |
100.6 |
76.7 |
|
Total Common Shares Outstanding |
100.6 |
100.6 |
100.6 |
100.6 |
76.7 |
|
T/S-Ordinary Shares |
0.0 |
0.0 |
- |
- |
- |
|
Accumulated Intangible Amortization |
11.8 |
12.2 |
11.9 |
12.3 |
11.9 |
|
Full-Time Employees |
1,610 |
1,713 |
1,898 |
2,100 |
2,162 |
|
LT Debt Maturing in 1 Year |
50.7 |
59.4 |
113.3 |
124.7 |
230.3 |
|
LT Debt Maturing in 2 Years |
0.0 |
0.9 |
2.7 |
7.6 |
36.0 |
|
LT Debt Maturing in 3 Years |
1.0 |
0.4 |
1.0 |
2.8 |
30.9 |
|
LT Debt Maturing in 4 Years |
0.0 |
0.5 |
0.4 |
1.4 |
28.1 |
|
LT Debt Maturing in 5 Years |
0.0 |
0.1 |
0.2 |
0.2 |
27.0 |
|
LT Debt/ Remaining Maturities |
- |
0.0 |
0.3 |
0.2 |
40.6 |
|
Total Long Term Debt, Supplemental |
51.6 |
61.2 |
117.9 |
137.0 |
393.0 |
|
Capital Leases Due Within 1 Y |
1.4 |
1.5 |
1.9 |
1.4 |
- |
|
Capital Leases Due Within 2 Y |
0.8 |
1.0 |
0.8 |
1.0 |
- |
|
Capital Leases Due Within 3 Y |
0.5 |
0.6 |
0.7 |
0.7 |
- |
|
Capital Leases Due Within 4 Y |
0.1 |
0.3 |
0.3 |
0.7 |
- |
|
Capital Leases/ Remaining Maturities |
0.0 |
0.9 |
0.0 |
0.6 |
- |
|
Total Capital Leases |
2.8 |
4.3 |
3.7 |
4.4 |
- |
|
Operating Leases within 1 Y |
1.0 |
1.1 |
1.2 |
- |
- |
|
Operating Leases in 2 Y |
0.0 |
- |
1.2 |
- |
- |
|
Total Operating Leases |
1.0 |
1.1 |
2.3 |
- |
- |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
Ernst &
Young SA |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Operating Profit / Loss |
-18.3 |
-70.9 |
-297.4 |
-45.6 |
19.9 |
|
Depreciation |
25.6 |
23.4 |
58.1 |
56.0 |
- |
|
Value Correction on Impairments |
-3.8 |
14.3 |
290.0 |
30.2 |
- |
|
Provisions |
-1.2 |
37.4 |
5.4 |
36.6 |
15.4 |
|
Subventions |
-3.9 |
-4.7 |
-7.6 |
-1.9 |
- |
|
Impairment/Sale of Assets Result |
-4.7 |
-39.3 |
-4.8 |
3.9 |
- |
|
Financial Income |
-0.7 |
-3.9 |
-1.7 |
-32.5 |
- |
|
Financial Expense |
7.8 |
7.2 |
2.9 |
22.8 |
- |
|
Exchange Difference |
-0.3 |
1.3 |
-1.0 |
0.0 |
- |
|
Other Gains/Losses |
2.4 |
6.7 |
19.0 |
15.8 |
- |
|
Negative Consolidation Difference |
- |
- |
- |
- |
-32.9 |
|
Works Fixed Assets |
- |
- |
- |
- |
-2.3 |
|
Amortization of Intangibles |
- |
- |
- |
- |
50.8 |
|
Inventories |
13.1 |
35.4 |
-26.1 |
-3.3 |
-17.3 |
|
Impairments due to Disc. Operations |
-2.1 |
0.0 |
- |
- |
- |
|
Receivables |
-21.0 |
81.8 |
-3.0 |
10.7 |
-11.1 |
|
Other ST Assets |
1.7 |
-13.4 |
26.2 |
0.7 |
- |
|
Payables |
-2.0 |
0.8 |
-24.3 |
-18.4 |
-40.5 |
|
Other ST Liabilities |
-3.3 |
4.4 |
-7.0 |
-16.8 |
- |
|
Other LT Liabilities |
0.0 |
1.7 |
-19.4 |
-5.5 |
- |
|
Interest Paid |
-5.5 |
-6.2 |
-12.3 |
-19.0 |
- |
|
Interest Gained |
1.1 |
1.2 |
3.0 |
2.3 |
- |
|
Tax Paid |
-1.0 |
0.0 |
-0.2 |
-0.2 |
-0.2 |
|
Other Payments |
0.0 |
-21.9 |
0.0 |
- |
- |
|
Discontinued Operations |
2.1 |
1.6 |
0.4 |
- |
- |
|
Miscalculous Adjustment |
- |
-0.1 |
-0.5 |
-13.7 |
- |
|
Cash from Operating Activities |
-14.0 |
56.9 |
0.0 |
22.0 |
-18.2 |
|
|
|
|
|
|
|
|
Purchase of Tangibles |
-10.7 |
-50.9 |
-56.6 |
-30.7 |
-29.0 |
|
Purchase of Intangibles |
0.0 |
-2.3 |
-1.1 |
-4.5 |
0.0 |
|
Purchase of Investment |
- |
0.0 |
-0.1 |
0.0 |
-3.3 |
|
Purchase of Business |
0.0 |
-1.7 |
0.0 |
- |
- |
|
Other Assets |
- |
- |
0.0 |
-2.2 |
4.8 |
|
Sale of Fixed Assets |
2.8 |
0.1 |
0.5 |
0.0 |
- |
|
Purchase of Other Investment |
0.0 |
-0.8 |
-0.9 |
-2.7 |
0.0 |
|
Sale of Intangibles |
2.1 |
2.9 |
4.8 |
0.0 |
0.4 |
|
Sale of Other Investments |
0.5 |
2.9 |
0.7 |
3.2 |
- |
|
Discontinued Operations |
12.2 |
0.0 |
60.9 |
0.0 |
- |
|
Interest Received |
- |
- |
- |
- |
2.6 |
|
Miscalculous Adjustment |
- |
- |
- |
2.2 |
- |
|
Cash from Investing Activities |
6.8 |
-49.8 |
8.2 |
-34.7 |
-24.5 |
|
|
|
|
|
|
|
|
Bank Loans Obtained |
1.9 |
0.0 |
124.3 |
13.2 |
98.8 |
|
Bank Loans Repaid |
0.0 |
-50.8 |
-136.0 |
-246.8 |
-35.6 |
|
Other Debt Issuance |
6.5 |
56.0 |
0.0 |
- |
- |
|
Other Debt Repaid |
-2.4 |
- |
- |
- |
- |
|
Increase of Capital |
- |
- |
0.0 |
188.4 |
- |
|
Capital Premium |
- |
- |
- |
0.0 |
- |
|
Interest Received |
- |
- |
- |
- |
0.0 |
|
Interest Paid |
- |
- |
- |
- |
-17.3 |
|
Bonds Emission |
- |
- |
- |
97.6 |
- |
|
Dividends Paid |
-0.8 |
-1.7 |
-5.0 |
- |
- |
|
Adjustment |
- |
- |
- |
- |
0.0 |
|
Cash from Financing Activities |
5.3 |
3.5 |
-16.6 |
52.4 |
45.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
- |
- |
- |
- |
-0.2 |
|
Net Change in Cash |
-1.9 |
10.6 |
-8.5 |
39.7 |
3.0 |
|
|
|
|
|
|
|
|
Net Cash-Beginning Balance |
47.1 |
38.8 |
49.3 |
6.4 |
2.9 |
|
Net Cash-Ending Balance |
45.2 |
49.5 |
40.9 |
46.2 |
5.9 |
|
Cash Interest Paid |
5.5 |
6.2 |
12.3 |
19.0 |
17.3 |
|
Cash Taxes Paid |
1.0 |
0.0 |
0.2 |
0.2 |
0.2 |
Financial
Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
Ernst &
Young SA |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
806.9 |
792.5 |
1,220.8 |
1,161.4 |
904.7 |
|
Revenue |
806.9 |
792.5 |
1,220.8 |
1,161.4 |
904.7 |
|
Other Revenue |
12.3 |
50.7 |
30.0 |
29.4 |
57.1 |
|
Other Revenue, Total |
12.3 |
50.7 |
30.0 |
29.4 |
57.1 |
|
Total Revenue |
819.2 |
843.2 |
1,250.7 |
1,190.9 |
961.7 |
|
|
|
|
|
|
|
|
Cost of Revenue |
409.9 |
400.5 |
692.7 |
604.8 |
450.5 |
|
Cost of Revenue, Total |
409.9 |
400.5 |
692.7 |
604.8 |
450.5 |
|
Gross Profit |
397.0 |
392.0 |
528.1 |
556.6 |
454.2 |
|
|
|
|
|
|
|
|
Labor & Related Expense |
117.5 |
147.7 |
155.7 |
186.4 |
136.1 |
|
Total Selling/General/Administrative Expenses |
117.5 |
147.7 |
155.7 |
186.4 |
136.1 |
|
Depreciation |
25.6 |
23.4 |
57.3 |
56.0 |
50.8 |
|
Depreciation/Amortization |
25.6 |
23.4 |
57.3 |
56.0 |
50.8 |
|
Litigation |
0.2 |
22.6 |
- |
- |
- |
|
Impairment-Assets Held for Use |
- |
- |
290.0 |
- |
- |
|
Unusual Expense (Income) |
0.2 |
22.6 |
290.0 |
- |
- |
|
Other Operating Expense |
277.4 |
313.8 |
341.2 |
361.5 |
304.5 |
|
Other Operating Expenses, Total |
277.4 |
313.8 |
341.2 |
361.5 |
304.5 |
|
Total Operating Expense |
830.6 |
908.0 |
1,537.0 |
1,208.7 |
941.9 |
|
|
|
|
|
|
|
|
Operating Income |
-11.4 |
-64.8 |
-286.2 |
-17.8 |
19.9 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-0.4 |
-0.9 |
-1.8 |
-1.3 |
-1.4 |
|
Interest Expense, Net Non-Operating |
-0.4 |
-0.9 |
-1.8 |
-1.3 |
-1.4 |
|
Interest Income -
Non-Operating |
0.0 |
0.0 |
0.8 |
32.5 |
1.5 |
|
Investment Income -
Non-Operating |
0.3 |
-1.3 |
-1.1 |
-1.5 |
-0.1 |
|
Interest/Investment Income - Non-Operating |
0.3 |
-1.3 |
-0.3 |
31.0 |
1.4 |
|
Interest Income (Expense) - Net Non-Operating Total |
-0.1 |
-2.1 |
-2.1 |
29.7 |
0.1 |
|
Other Non-Operating Income (Expense) |
-6.8 |
-2.4 |
-9.1 |
-57.5 |
-16.9 |
|
Other, Net |
-6.8 |
-2.4 |
-9.1 |
-57.5 |
-16.9 |
|
Income Before Tax |
-18.3 |
-69.4 |
-297.4 |
-45.6 |
3.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
0.1 |
1.5 |
0.0 |
0.3 |
-3.1 |
|
Income After Tax |
-18.4 |
-70.9 |
-297.4 |
-45.9 |
6.1 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.3 |
0.5 |
-0.5 |
1.0 |
-0.5 |
|
Net Income Before Extraord Items |
-18.6 |
-70.4 |
-297.9 |
-44.8 |
5.6 |
|
Discontinued Operations |
2.1 |
1.6 |
0.4 |
- |
- |
|
Total Extraord Items |
2.1 |
1.6 |
0.4 |
- |
- |
|
Net Income |
-16.5 |
-68.8 |
-297.5 |
-44.8 |
5.6 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
-18.6 |
-70.4 |
-297.9 |
-44.8 |
5.6 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-16.5 |
-68.8 |
-297.5 |
-44.8 |
5.6 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
100.6 |
100.6 |
100.6 |
100.6 |
67.6 |
|
Basic EPS Excl Extraord Items |
-0.19 |
-0.70 |
-2.96 |
-0.45 |
0.08 |
|
Basic/Primary EPS Incl Extraord Items |
-0.16 |
-0.68 |
-2.96 |
-0.45 |
0.08 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
-16.5 |
-68.8 |
-297.5 |
-44.8 |
5.6 |
|
Diluted Weighted Average Shares |
100.6 |
100.6 |
100.6 |
100.6 |
67.6 |
|
Diluted EPS Excl Extraord Items |
-0.19 |
-0.70 |
-2.96 |
-0.45 |
0.08 |
|
Diluted EPS Incl Extraord Items |
-0.16 |
-0.68 |
-2.96 |
-0.45 |
0.08 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
0.4 |
0.9 |
1.8 |
1.3 |
1.4 |
|
Depreciation, Supplemental |
25.0 |
22.6 |
57.6 |
56.0 |
50.8 |
|
Total Special Items |
0.2 |
22.6 |
290.0 |
- |
- |
|
Normalized Income Before Tax |
-18.1 |
-46.7 |
-7.4 |
-45.6 |
3.0 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.1 |
7.9 |
101.5 |
- |
- |
|
Inc Tax Ex Impact of Sp Items |
0.2 |
9.5 |
101.5 |
0.3 |
-3.1 |
|
Normalized Income After Tax |
-18.2 |
-56.2 |
-108.8 |
-45.9 |
6.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-18.5 |
-55.7 |
-109.4 |
-44.8 |
5.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.18 |
-0.55 |
-1.09 |
-0.45 |
0.08 |
|
Diluted Normalized EPS |
-0.18 |
-0.55 |
-1.09 |
-0.45 |
0.08 |
|
Amort of Intangibles, Supplemental |
0.6 |
0.5 |
0.2 |
- |
- |
|
Rental Expenses |
13.5 |
16.0 |
17.6 |
- |
- |
|
Advertising Expense, Supplemental |
0.6 |
0.9 |
1.1 |
- |
- |
|
Research & Development Exp, Supplemental |
0.4 |
0.4 |
0.6 |
- |
- |
|
Normalized EBIT |
-11.2 |
-42.2 |
3.8 |
-17.8 |
19.9 |
|
Normalized EBITDA |
14.4 |
-19.0 |
61.6 |
38.1 |
70.7 |
|
Current Tax - Total |
0.3 |
0.2 |
-0.8 |
0.2 |
1.4 |
|
Current Tax - Total |
0.3 |
0.2 |
-0.8 |
0.2 |
1.4 |
|
Deferred Tax - Total |
-0.2 |
1.3 |
0.8 |
0.1 |
-4.5 |
|
Deferred Tax - Total |
-0.2 |
1.3 |
0.8 |
0.1 |
-4.5 |
|
Income Tax - Total |
0.1 |
1.5 |
0.0 |
0.3 |
-3.1 |
Interim Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
6 Months |
6 Months |
9 Months |
6 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Special |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.713558 |
0.75577 |
0.761121 |
0.754409 |
|
|
|
|
|
|
|
Net Sales |
511.5 |
415.1 |
595.0 |
391.7 |
|
Revenue |
511.5 |
415.1 |
595.0 |
391.7 |
|
Other Revenue |
9.7 |
5.5 |
18.6 |
6.7 |
|
Other Revenue, Total |
9.7 |
5.5 |
18.6 |
6.7 |
|
Total Revenue |
521.3 |
420.7 |
613.6 |
398.4 |
|
|
|
|
|
|
|
Cost of Revenue |
275.9 |
211.1 |
448.4 |
198.8 |
|
Cost of Revenue, Total |
275.9 |
211.1 |
448.4 |
198.8 |
|
Gross Profit |
235.6 |
204.1 |
146.6 |
192.9 |
|
|
|
|
|
|
|
Labor & Related Expense |
60.2 |
58.8 |
85.9 |
58.6 |
|
Total Selling/General/Administrative Expenses |
60.2 |
58.8 |
85.9 |
58.6 |
|
Depreciation |
13.0 |
12.3 |
19.7 |
13.3 |
|
Depreciation/Amortization |
13.0 |
12.3 |
19.7 |
13.3 |
|
Loss (Gain) on Sale of Assets - Operating |
- |
- |
0.0 |
- |
|
Unusual Expense (Income) |
- |
- |
0.0 |
- |
|
Other Operating Expense |
158.1 |
138.2 |
71.1 |
139.4 |
|
Other Operating Expenses, Total |
158.1 |
138.2 |
71.1 |
139.4 |
|
Total Operating Expense |
507.2 |
420.4 |
625.1 |
410.2 |
|
|
|
|
|
|
|
Operating Income |
14.1 |
0.3 |
-11.5 |
-11.7 |
|
|
|
|
|
|
|
Investment Income -
Non-Operating |
0.5 |
-1.2 |
- |
1.5 |
|
Interest/Investment Income - Non-Operating |
0.5 |
-1.2 |
- |
1.5 |
|
Interest Income (Expense) - Net Non-Operating Total |
0.5 |
-1.2 |
- |
1.5 |
|
Other Non-Operating Income (Expense) |
-5.8 |
-4.1 |
-2.9 |
-3.1 |
|
Other, Net |
-5.8 |
-4.1 |
-2.9 |
-3.1 |
|
Income Before Tax |
8.7 |
-5.0 |
-14.3 |
-13.3 |
|
|
|
|
|
|
|
Total Income Tax |
0.0 |
0.1 |
-0.1 |
-0.1 |
|
Income After Tax |
8.7 |
-5.1 |
-14.3 |
-13.3 |
|
|
|
|
|
|
|
Minority Interest |
-0.1 |
-0.1 |
-0.3 |
-0.1 |
|
Net Income Before Extraord Items |
8.6 |
-5.3 |
-14.5 |
-13.4 |
|
Discontinued Operations |
0.0 |
1.4 |
- |
0.7 |
|
Total Extraord Items |
0.0 |
1.4 |
- |
0.7 |
|
Net Income |
8.6 |
-3.9 |
-14.5 |
-12.7 |
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
8.6 |
-5.3 |
-14.5 |
-13.4 |
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
8.6 |
-3.9 |
-14.5 |
-12.7 |
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
100.6 |
100.6 |
100.6 |
100.6 |
|
Basic EPS Excl Extraord Items |
0.09 |
-0.05 |
-0.14 |
-0.13 |
|
Basic/Primary EPS Incl Extraord Items |
0.09 |
-0.04 |
-0.14 |
-0.13 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
8.6 |
-3.9 |
-14.5 |
-12.7 |
|
Diluted Weighted Average Shares |
100.6 |
100.6 |
100.6 |
100.6 |
|
Diluted EPS Excl Extraord Items |
0.09 |
-0.05 |
-0.14 |
-0.13 |
|
Diluted EPS Incl Extraord Items |
0.09 |
-0.04 |
-0.14 |
-0.13 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
|
Depreciation, Supplemental |
13.0 |
12.3 |
19.7 |
13.3 |
|
Total Special Items |
- |
- |
0.0 |
- |
|
Normalized Income Before Tax |
8.7 |
-5.0 |
-14.3 |
-13.3 |
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
- |
- |
0.0 |
- |
|
Inc Tax Ex Impact of Sp Items |
0.0 |
0.1 |
-0.1 |
-0.1 |
|
Normalized Income After Tax |
8.7 |
-5.1 |
-14.3 |
-13.3 |
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
8.6 |
-5.3 |
-14.5 |
-13.4 |
|
|
|
|
|
|
|
Basic Normalized EPS |
0.09 |
-0.05 |
-0.14 |
-0.13 |
|
Diluted Normalized EPS |
0.09 |
-0.05 |
-0.14 |
-0.13 |
|
Rental Expenses |
6.6 |
6.0 |
- |
7.5 |
|
Advertising Expense, Supplemental |
0.3 |
0.3 |
- |
0.4 |
|
Normalized EBIT |
14.1 |
0.3 |
-11.5 |
-11.7 |
|
Normalized EBITDA |
27.1 |
12.6 |
8.3 |
1.5 |
Annual Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
0.683971 |
0.758351 |
|
Auditor |
Ernst &
Young SA |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
23.4 |
21.0 |
3.0 |
49.3 |
6.2 |
|
Cash and Short Term Investments |
23.4 |
21.0 |
3.0 |
49.3 |
6.2 |
|
Accounts Receivable -
Trade, Gross |
224.3 |
217.7 |
309.8 |
42.7 |
29.7 |
|
Provision for Doubtful
Accounts |
-14.0 |
-14.6 |
-10.5 |
- |
- |
|
Trade Accounts Receivable - Net |
210.4 |
203.1 |
299.3 |
315.7 |
279.9 |
|
Total Receivables, Net |
210.4 |
203.1 |
299.3 |
315.7 |
279.9 |
|
Inventories - Finished Goods |
49.0 |
71.5 |
103.9 |
97.9 |
80.5 |
|
Inventories - Other |
41.6 |
34.7 |
53.2 |
54.5 |
55.1 |
|
Total Inventory |
90.7 |
106.1 |
157.1 |
152.3 |
135.5 |
|
Restricted Cash - Current |
22.3 |
30.0 |
35.8 |
- |
- |
|
Discontinued Operations - Current Asset |
0.0 |
14.0 |
0.0 |
60.1 |
52.2 |
|
Other Current Assets |
22.9 |
26.3 |
13.3 |
42.1 |
29.2 |
|
Other Current Assets, Total |
45.2 |
70.2 |
49.1 |
102.2 |
81.4 |
|
Total Current Assets |
369.7 |
400.5 |
508.5 |
619.5 |
503.0 |
|
|
|
|
|
|
|
|
Land/Improvements |
279.6 |
302.6 |
325.8 |
340.3 |
311.6 |
|
Machinery/Equipment |
1,302.4 |
1,398.9 |
1,282.7 |
1,347.3 |
1,200.1 |
|
Construction in
Progress |
21.4 |
31.5 |
50.2 |
23.3 |
26.4 |
|
Other
Property/Plant/Equipment |
30.6 |
35.2 |
34.9 |
36.6 |
34.4 |
|
Property/Plant/Equipment - Gross |
1,633.9 |
1,768.2 |
1,693.6 |
1,747.5 |
1,572.5 |
|
Accumulated Depreciation |
-978.4 |
-1,048.9 |
-1,001.9 |
-1,007.0 |
-873.5 |
|
Property/Plant/Equipment - Net |
655.5 |
719.3 |
691.7 |
740.6 |
699.0 |
|
Goodwill, Net |
0.1 |
0.1 |
0.0 |
0.1 |
0.1 |
|
Intangibles - Gross |
24.5 |
23.9 |
24.3 |
21.4 |
21.4 |
|
Accumulated Intangible Amortization |
-11.8 |
-12.2 |
-11.8 |
-12.3 |
-11.9 |
|
Intangibles, Net |
12.7 |
11.7 |
12.5 |
9.1 |
9.5 |
|
LT Investment - Affiliate Companies |
6.1 |
6.6 |
6.4 |
6.6 |
4.3 |
|
LT Investments - Other |
45.4 |
49.1 |
22.8 |
42.1 |
103.4 |
|
Long Term Investments |
51.6 |
55.7 |
29.1 |
48.7 |
107.8 |
|
Deferred Charges |
- |
- |
- |
0.8 |
6.3 |
|
Deferred Income Tax - Long Term Asset |
4.6 |
4.8 |
6.0 |
5.5 |
5.2 |
|
Other Long Term Assets |
-253.4 |
-273.6 |
-265.1 |
-36.8 |
-4.6 |
|
Other Long Term Assets, Total |
-248.8 |
-268.8 |
-259.1 |
-30.4 |
6.9 |
|
Total Assets |
840.7 |
918.4 |
982.8 |
1,387.5 |
1,326.3 |
|
|
|
|
|
|
|
|
Accounts Payable |
190.2 |
195.0 |
187.0 |
215.6 |
212.1 |
|
Accrued Expenses |
23.6 |
19.1 |
9.3 |
- |
- |
|
Notes Payable/Short Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
147.7 |
60.9 |
115.2 |
124.7 |
230.3 |
|
Income Taxes Payable |
- |
- |
- |
0.0 |
0.2 |
|
Discontinued Operations - Current Liability |
0.0 |
3.1 |
0.0 |
- |
- |
|
Other Current Liabilities |
41.5 |
15.9 |
72.0 |
86.9 |
102.7 |
|
Other Current liabilities, Total |
41.5 |
19.0 |
72.0 |
86.9 |
102.9 |
|
Total Current Liabilities |
403.1 |
294.1 |
383.6 |
427.2 |
545.4 |
|
|
|
|
|
|
|
|
Long Term Debt |
1.0 |
103.2 |
101.9 |
113.5 |
160.9 |
|
Capital Lease Obligations |
1.4 |
2.8 |
1.8 |
3.0 |
1.7 |
|
Total Long Term Debt |
2.4 |
106.0 |
103.7 |
116.5 |
162.6 |
|
Total Debt |
150.1 |
166.9 |
219.0 |
241.3 |
393.0 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
49.4 |
52.5 |
49.3 |
52.6 |
48.3 |
|
Deferred Income Tax |
49.4 |
52.5 |
49.3 |
52.6 |
48.3 |
|
Minority Interest |
0.6 |
0.4 |
1.8 |
1.3 |
2.6 |
|
Reserves |
57.1 |
90.9 |
70.1 |
100.5 |
82.8 |
|
Other Long Term Liabilities |
71.0 |
80.1 |
18.6 |
13.5 |
12.5 |
|
Other Liabilities, Total |
128.0 |
171.1 |
88.7 |
114.0 |
95.3 |
|
Total Liabilities |
583.5 |
624.1 |
627.1 |
711.7 |
854.2 |
|
|
|
|
|
|
|
|
Common Stock |
40.5 |
231.0 |
503.5 |
529.6 |
341.2 |
|
Common Stock |
40.5 |
231.0 |
503.5 |
529.6 |
341.2 |
|
Additional Paid-In Capital |
- |
0.0 |
151.7 |
159.6 |
90.9 |
|
Retained Earnings (Accumulated Deficit) |
236.9 |
84.8 |
-278.7 |
8.5 |
52.1 |
|
Other Equity |
-20.1 |
-21.5 |
-20.8 |
-21.9 |
-12.1 |
|
Other Equity, Total |
-20.1 |
-21.5 |
-20.8 |
-21.9 |
-12.1 |
|
Total Equity |
257.3 |
294.3 |
355.7 |
675.8 |
472.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
840.7 |
918.4 |
982.8 |
1,387.5 |
1,326.3 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
100.6 |
100.6 |
100.6 |
100.6 |
76.7 |
|
Total Common Shares Outstanding |
100.6 |
100.6 |
100.6 |
100.6 |
76.7 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
- |
- |
- |
|
Employees |
1,610 |
1,713 |
1,898 |
2,100 |
2,162 |
|
Accumulated Intangible Amort, Suppl. |
11.8 |
12.2 |
11.9 |
12.3 |
11.9 |
|
Total Long Term Debt, Supplemental |
51.6 |
61.2 |
117.9 |
137.0 |
393.0 |
|
Long Term Debt Maturing within 1 Year |
50.7 |
59.4 |
113.3 |
124.7 |
230.3 |
|
Long Term Debt Maturing in Year 2 |
0.0 |
0.9 |
2.7 |
7.6 |
36.0 |
|
Long Term Debt Maturing in Year 3 |
1.0 |
0.4 |
1.0 |
2.8 |
30.9 |
|
Long Term Debt Maturing in Year 4 |
0.0 |
0.5 |
0.4 |
1.4 |
28.1 |
|
Long Term Debt Maturing in Year 5 |
0.0 |
0.1 |
0.2 |
0.2 |
27.0 |
|
Long Term Debt Maturing in 2-3 Years |
1.0 |
1.3 |
3.7 |
10.4 |
66.9 |
|
Long Term Debt Maturing in 4-5 Years |
0.0 |
0.5 |
0.6 |
1.7 |
55.1 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.0 |
0.3 |
0.2 |
40.6 |
|
Total Capital Leases, Supplemental |
2.8 |
4.3 |
3.7 |
4.4 |
- |
|
Capital Lease Payments Due in Year 1 |
1.4 |
1.5 |
1.9 |
1.4 |
- |
|
Capital Lease Payments Due in Year 2 |
0.8 |
1.0 |
0.8 |
1.0 |
- |
|
Capital Lease Payments Due in Year 3 |
0.5 |
0.6 |
0.7 |
0.7 |
- |
|
Capital Lease Payments Due in Year 4 |
0.1 |
0.3 |
0.3 |
0.7 |
- |
|
Capital Lease Payments Due in 2-3 Years |
1.3 |
1.6 |
1.5 |
1.7 |
- |
|
Capital Lease Payments Due in 4-5 Years |
0.1 |
0.3 |
0.3 |
0.7 |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.0 |
0.9 |
0.0 |
0.6 |
- |
|
Total Operating Leases, Supplemental |
1.0 |
1.1 |
2.3 |
- |
- |
|
Operating Lease Payments Due in Year 1 |
1.0 |
1.1 |
1.2 |
- |
- |
|
Operating Lease Payments Due in Year 2 |
0.0 |
- |
1.2 |
- |
- |
|
Operating Lease Pymts. Due in 2-3 Years |
0.0 |
- |
1.2 |
- |
- |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
0.0 |
0.0 |
0.0 |
- |
- |
Interim Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Jun-2010 |
31-Dec-2009 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.689727 |
0.704672 |
0.745406 |
0.816393 |
0.696986 |
|
|
|
|
|
|
|
|
Cash & Equivalents |
84.1 |
- |
45.7 |
47.0 |
51.0 |
|
Cash and Short Term Investments |
84.1 |
- |
45.7 |
47.0 |
51.0 |
|
Trade Accounts Receivable - Net |
261.2 |
- |
210.4 |
195.2 |
203.1 |
|
Total Receivables, Net |
261.2 |
- |
210.4 |
195.2 |
203.1 |
|
Total Inventory |
95.2 |
- |
90.7 |
80.5 |
106.1 |
|
Discontinued Operations - Current Asset |
- |
- |
0.0 |
15.2 |
14.0 |
|
Other Current Assets |
24.6 |
0.4 |
22.9 |
22.5 |
26.3 |
|
Other Current Assets, Total |
24.6 |
0.4 |
22.9 |
37.7 |
40.3 |
|
Total Current Assets |
465.0 |
0.4 |
369.7 |
360.4 |
400.5 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
428.2 |
- |
403.5 |
372.7 |
445.6 |
|
Intangibles, Net |
11.0 |
- |
11.4 |
12.3 |
11.8 |
|
LT Investment - Affiliate Companies |
8.3 |
- |
6.1 |
5.6 |
6.6 |
|
LT Investments - Other |
49.1 |
- |
45.4 |
41.4 |
49.1 |
|
Long Term Investments |
57.4 |
- |
51.6 |
47.0 |
55.7 |
|
Deferred Income Tax - Long Term Asset |
4.9 |
- |
4.6 |
4.3 |
4.8 |
|
Other Long Term Assets |
- |
0.5 |
- |
- |
- |
|
Other Long Term Assets, Total |
4.9 |
0.5 |
4.6 |
4.3 |
4.8 |
|
Total Assets |
966.5 |
0.9 |
840.7 |
796.7 |
918.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
252.7 |
- |
187.1 |
179.0 |
187.5 |
|
Notes Payable/Short Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
149.2 |
- |
147.7 |
55.7 |
60.9 |
|
Discontinued Operations - Current Liability |
- |
- |
0.0 |
5.2 |
3.1 |
|
Other Current Liabilities |
71.8 |
0.5 |
68.2 |
142.4 |
42.6 |
|
Other Current liabilities, Total |
71.8 |
0.5 |
68.2 |
147.6 |
45.7 |
|
Total Current Liabilities |
473.6 |
0.5 |
403.1 |
382.2 |
294.1 |
|
|
|
|
|
|
|
|
Long Term Debt |
1.3 |
- |
2.4 |
2.1 |
106.0 |
|
Total Long Term Debt |
1.3 |
0.0 |
2.4 |
2.1 |
106.0 |
|
Total Debt |
150.5 |
0.0 |
150.1 |
57.8 |
166.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
53.4 |
- |
49.4 |
44.8 |
52.5 |
|
Deferred Income Tax |
53.4 |
- |
49.4 |
44.8 |
52.5 |
|
Minority Interest |
0.8 |
0.0 |
0.6 |
0.4 |
0.4 |
|
Reserves |
60.0 |
- |
57.1 |
58.6 |
90.9 |
|
Other Long Term Liabilities |
89.4 |
0.2 |
71.0 |
70.9 |
80.1 |
|
Other Liabilities, Total |
149.3 |
0.2 |
128.0 |
129.6 |
171.1 |
|
Total Liabilities |
678.4 |
0.7 |
583.5 |
559.2 |
624.1 |
|
|
|
|
|
|
|
|
Common Stock |
43.8 |
- |
40.5 |
37.0 |
231.0 |
|
Common Stock |
43.8 |
- |
40.5 |
37.0 |
231.0 |
|
Retained Earnings (Accumulated Deficit) |
266.0 |
- |
236.9 |
218.9 |
84.8 |
|
Other Equity |
-21.7 |
0.3 |
-20.1 |
-18.3 |
-21.5 |
|
Other Equity, Total |
-21.7 |
0.3 |
-20.1 |
-18.3 |
-21.5 |
|
Total Equity |
288.1 |
0.3 |
257.3 |
237.5 |
294.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
966.5 |
0.9 |
840.7 |
796.7 |
918.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
100.6 |
100.6 |
100.6 |
100.6 |
100.6 |
|
Total Common Shares Outstanding |
100.6 |
100.6 |
100.6 |
100.6 |
100.6 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
- |
0.0 |
0.0 |
0.0 |
|
Employees |
1,629 |
- |
1,610 |
1,692 |
1,713 |
Annual
Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
Ernst &
Young SA |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
-18.3 |
-70.9 |
-297.4 |
-45.6 |
19.9 |
|
Depreciation |
25.6 |
23.4 |
58.1 |
56.0 |
- |
|
Depreciation/Depletion |
25.6 |
23.4 |
58.1 |
56.0 |
- |
|
Amortization of Intangibles |
- |
- |
- |
- |
50.8 |
|
Amortization of Acquisition Costs |
- |
- |
- |
- |
-32.9 |
|
Amortization |
- |
- |
- |
- |
17.9 |
|
Discontinued Operations |
2.1 |
1.6 |
0.4 |
- |
- |
|
Unusual Items |
-10.6 |
-24.9 |
285.3 |
34.1 |
- |
|
Other Non-Cash Items |
4.1 |
43.9 |
17.0 |
40.8 |
15.4 |
|
Non-Cash Items |
-4.4 |
20.6 |
302.7 |
74.9 |
15.4 |
|
Accounts Receivable |
-21.0 |
81.8 |
-3.0 |
10.7 |
-11.1 |
|
Inventories |
13.1 |
35.4 |
-26.1 |
-3.3 |
-17.3 |
|
Other Assets |
1.7 |
-13.4 |
26.2 |
0.7 |
- |
|
Accounts Payable |
-2.0 |
0.8 |
-24.3 |
-18.4 |
-40.5 |
|
Other Liabilities |
-3.3 |
6.1 |
-26.4 |
-22.4 |
- |
|
Other Operating Cash Flow |
-5.4 |
-27.0 |
-9.9 |
-30.6 |
-2.5 |
|
Changes in Working Capital |
-16.8 |
83.8 |
-63.5 |
-63.2 |
-71.4 |
|
Cash from Operating Activities |
-14.0 |
56.9 |
0.0 |
22.0 |
-18.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-10.7 |
-50.9 |
-56.6 |
-30.7 |
-29.0 |
|
Purchase/Acquisition of Intangibles |
0.0 |
-2.3 |
-1.1 |
-4.5 |
0.0 |
|
Capital Expenditures |
-10.7 |
-53.2 |
-57.7 |
-35.2 |
-29.0 |
|
Acquisition of Business |
0.0 |
-1.7 |
0.0 |
- |
- |
|
Sale of Fixed Assets |
2.8 |
0.1 |
0.5 |
0.0 |
- |
|
Sale/Maturity of Investment |
0.5 |
2.9 |
0.7 |
3.2 |
- |
|
Purchase of Investments |
0.0 |
-0.8 |
-1.0 |
-2.7 |
-3.3 |
|
Sale of Intangible Assets |
2.1 |
2.9 |
4.8 |
0.0 |
0.4 |
|
Other Investing Cash Flow |
12.2 |
0.0 |
60.9 |
0.0 |
7.5 |
|
Other Investing Cash Flow Items, Total |
17.5 |
3.4 |
65.9 |
0.5 |
4.5 |
|
Cash from Investing Activities |
6.8 |
-49.8 |
8.2 |
-34.7 |
-24.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
- |
- |
0.0 |
-17.3 |
|
Financing Cash Flow Items |
- |
- |
- |
0.0 |
-17.3 |
|
Cash Dividends Paid - Common |
-0.8 |
-1.7 |
-5.0 |
- |
- |
|
Total Cash Dividends Paid |
-0.8 |
-1.7 |
-5.0 |
- |
- |
|
Sale/Issuance of
Common |
- |
- |
0.0 |
188.4 |
- |
|
Common Stock, Net |
- |
- |
0.0 |
188.4 |
- |
|
Issuance (Retirement) of Stock, Net |
- |
- |
0.0 |
188.4 |
- |
|
Long Term Debt Issued |
8.5 |
56.0 |
124.3 |
110.8 |
98.8 |
|
Long Term Debt
Reduction |
-2.4 |
-50.8 |
-136.0 |
-246.8 |
-35.6 |
|
Long Term Debt, Net |
6.1 |
5.2 |
-11.7 |
-136.0 |
63.3 |
|
Issuance (Retirement) of Debt, Net |
6.1 |
5.2 |
-11.7 |
-136.0 |
63.3 |
|
Cash from Financing Activities |
5.3 |
3.5 |
-16.6 |
52.4 |
45.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
- |
- |
- |
- |
-0.2 |
|
Net Change in Cash |
-1.9 |
10.6 |
-8.5 |
39.7 |
3.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
47.1 |
38.8 |
49.3 |
6.4 |
2.9 |
|
Net Cash - Ending Balance |
45.2 |
49.5 |
40.9 |
46.2 |
5.9 |
|
Cash Interest Paid |
5.5 |
6.2 |
12.3 |
19.0 |
17.3 |
|
Cash Taxes Paid |
1.0 |
0.0 |
0.2 |
0.2 |
0.2 |
Interim Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Dec-2010 |
30-Jun-2010 |
31-Dec-2009 |
30-Jun-2009 |
|
Period Length |
6 Months |
12 Months |
6 Months |
12 Months |
6 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.713558 |
0.755078 |
0.754409 |
0.719047 |
0.749639 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
8.7 |
-18.3 |
-13.3 |
-70.9 |
-23.8 |
|
Depreciation |
13.0 |
25.6 |
13.3 |
23.4 |
10.9 |
|
Depreciation/Depletion |
13.0 |
25.6 |
13.3 |
23.4 |
10.9 |
|
Discontinued Operations |
- |
2.1 |
- |
1.6 |
- |
|
Unusual Items |
-2.0 |
-6.8 |
-2.7 |
- |
- |
|
Other Non-Cash Items |
0.0 |
0.3 |
2.1 |
19.0 |
-22.0 |
|
Non-Cash Items |
-2.0 |
-4.4 |
-0.6 |
20.6 |
-22.0 |
|
Accounts Receivable |
-33.2 |
-21.0 |
-27.3 |
- |
- |
|
Inventories |
2.5 |
13.1 |
8.7 |
- |
- |
|
Other Assets |
0.1 |
1.7 |
-0.1 |
- |
- |
|
Accounts Payable |
54.9 |
-2.0 |
20.6 |
- |
- |
|
Other Liabilities |
-1.6 |
-3.3 |
9.4 |
- |
- |
|
Other Assets & Liabilities, Net |
- |
- |
- |
110.8 |
110.1 |
|
Other Operating Cash Flow |
-3.1 |
-5.4 |
-1.9 |
-27.0 |
-3.3 |
|
Changes in Working Capital |
19.6 |
-16.8 |
9.3 |
83.8 |
106.9 |
|
Cash from Operating Activities |
39.4 |
-14.0 |
8.7 |
56.9 |
71.9 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-3.2 |
-10.7 |
-8.9 |
-53.2 |
-35.4 |
|
Purchase/Acquisition of Intangibles |
0.0 |
- |
-0.6 |
- |
- |
|
Capital Expenditures |
-3.2 |
-10.7 |
-9.5 |
-53.2 |
-35.4 |
|
Acquisition of Business |
- |
- |
- |
-1.7 |
- |
|
Sale of Fixed Assets |
1.7 |
2.8 |
2.7 |
3.0 |
0.0 |
|
Sale/Maturity of Investment |
- |
0.5 |
- |
2.9 |
- |
|
Purchase of Investments |
0.0 |
0.0 |
0.0 |
-0.8 |
-3.5 |
|
Sale of Intangible Assets |
5.5 |
2.1 |
0.1 |
- |
- |
|
Other Investing Cash Flow |
- |
12.2 |
- |
- |
- |
|
Other Investing Cash Flow Items, Total |
7.2 |
17.5 |
2.8 |
3.4 |
-3.5 |
|
Cash from Investing Activities |
4.1 |
6.8 |
-6.7 |
-49.8 |
-38.9 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
0.0 |
-0.8 |
-0.8 |
-1.7 |
-1.3 |
|
Financing Cash Flow Items |
0.0 |
-0.8 |
-0.8 |
-1.7 |
-1.3 |
|
Total Debt Issued |
31.8 |
8.5 |
14.2 |
56.0 |
67.4 |
|
Total Debt Reduction |
-41.8 |
-2.4 |
-11.8 |
-50.8 |
-78.0 |
|
Issuance (Retirement) of Debt, Net |
-10.0 |
6.1 |
2.4 |
5.2 |
-10.6 |
|
Cash from Financing Activities |
-10.0 |
5.3 |
1.6 |
3.5 |
-11.9 |
|
|
|
|
|
|
|
|
Net Change in Cash |
33.5 |
-1.9 |
3.7 |
10.6 |
21.1 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
47.8 |
47.1 |
47.1 |
38.8 |
37.3 |
|
Net Cash - Ending Balance |
81.3 |
45.2 |
50.8 |
49.5 |
58.4 |
|
Cash Interest Paid |
3.3 |
5.5 |
2.6 |
6.2 |
3.8 |
Annual
Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
Ernst &
Young SA |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales of Products |
806.9 |
792.5 |
1,220.8 |
1,156.0 |
904.7 |
|
Service / Income |
- |
- |
- |
5.4 |
- |
|
Other Op. Income |
12.3 |
50.7 |
30.0 |
29.4 |
57.1 |
|
Total Revenue |
819.2 |
843.2 |
1,250.7 |
1,190.9 |
961.7 |
|
|
|
|
|
|
|
|
Gains/Stocks |
12.9 |
-8.7 |
-4.1 |
- |
-10.0 |
|
Consumption |
397.0 |
409.2 |
696.8 |
604.8 |
460.5 |
|
Personnel Expenses |
117.5 |
147.7 |
155.7 |
186.4 |
136.1 |
|
Depreciation/Amortization |
25.6 |
23.4 |
57.3 |
56.0 |
50.8 |
|
Other Op. Expenses |
277.4 |
313.8 |
341.2 |
361.5 |
304.5 |
|
Litigation |
0.2 |
22.6 |
- |
- |
- |
|
Assets Impairment |
- |
- |
290.0 |
- |
- |
|
Total Operating Expense |
830.6 |
908.0 |
1,537.0 |
1,208.7 |
941.9 |
|
|
|
|
|
|
|
|
Interest Income |
0.0 |
0.0 |
0.8 |
32.5 |
1.5 |
|
Other Financial Income |
0.6 |
3.9 |
3.9 |
- |
1.1 |
|
Financial Expenses |
-7.4 |
-6.3 |
-12.9 |
-21.5 |
-18.0 |
|
Interest Expense |
-0.4 |
-0.9 |
-1.8 |
-1.3 |
-1.4 |
|
FOREX, Net |
0.3 |
-1.3 |
-1.1 |
-1.9 |
-0.2 |
|
Losses/Gains Equity Meth. |
- |
- |
- |
0.4 |
0.1 |
|
Assets Write-Down |
- |
- |
- |
-36.0 |
0.0 |
|
Net Income Before Taxes |
-18.3 |
-69.4 |
-297.4 |
-45.6 |
3.0 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
0.1 |
1.5 |
0.0 |
0.3 |
-3.1 |
|
Net Income After Taxes |
-18.4 |
-70.9 |
-297.4 |
-45.9 |
6.1 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.3 |
0.5 |
-0.5 |
1.0 |
-0.5 |
|
Net Income Before Extra. Items |
-18.6 |
-70.4 |
-297.9 |
-44.8 |
5.6 |
|
Discontinued Operations |
2.1 |
1.6 |
0.4 |
- |
- |
|
Net Income |
-16.5 |
-68.8 |
-297.5 |
-44.8 |
5.6 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
-18.6 |
-70.4 |
-297.9 |
-44.8 |
5.6 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-16.5 |
-68.8 |
-297.5 |
-44.8 |
5.6 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
100.6 |
100.6 |
100.6 |
100.6 |
67.6 |
|
Basic EPS Excluding ExtraOrdinary Items |
-0.19 |
-0.70 |
-2.96 |
-0.45 |
0.08 |
|
Basic EPS Including ExtraOrdinary Item |
-0.16 |
-0.68 |
-2.96 |
-0.45 |
0.08 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
-16.5 |
-68.8 |
-297.5 |
-44.8 |
5.6 |
|
Diluted Weighted Average Shares |
100.6 |
100.6 |
100.6 |
100.6 |
67.6 |
|
Diluted EPS Excluding ExtraOrd Items |
-0.19 |
-0.70 |
-2.96 |
-0.45 |
0.08 |
|
Diluted EPS Including ExtraOrd Items |
-0.16 |
-0.68 |
-2.96 |
-0.45 |
0.08 |
|
DPS-Ordinary Shares |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
-18.1 |
-46.7 |
-7.4 |
-45.6 |
3.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.2 |
9.5 |
101.5 |
0.3 |
-3.1 |
|
Normalized Income After Taxes |
-18.2 |
-56.2 |
-108.8 |
-45.9 |
6.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-18.5 |
-55.7 |
-109.4 |
-44.8 |
5.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.18 |
-0.55 |
-1.09 |
-0.45 |
0.08 |
|
Diluted Normalized EPS |
-0.18 |
-0.55 |
-1.09 |
-0.45 |
0.08 |
|
Interest Expense |
0.4 |
0.9 |
1.8 |
1.3 |
1.4 |
|
Depreciation |
25.0 |
22.6 |
57.6 |
56.0 |
50.8 |
|
Amortization of Intangibles |
0.6 |
0.5 |
0.2 |
- |
- |
|
Research & Development Exp, Supplemental |
0.4 |
0.4 |
0.6 |
- |
- |
|
Rental Expense, Supplemental |
13.5 |
16.0 |
17.6 |
- |
- |
|
Advertising Expense, Supplemental |
0.6 |
0.9 |
1.1 |
- |
- |
|
Current Tax, Total |
0.3 |
0.2 |
-0.8 |
0.2 |
1.4 |
|
Current Tax - Total |
0.3 |
0.2 |
-0.8 |
0.2 |
1.4 |
|
Deferred Tax, Total |
-0.2 |
1.3 |
0.8 |
0.1 |
-4.5 |
|
Deferred Tax - Total |
-0.2 |
1.3 |
0.8 |
0.1 |
-4.5 |
|
Income Tax - Total |
0.1 |
1.5 |
0.0 |
0.3 |
-3.1 |
Interim Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Dec-2009 |
|
Period Length |
6 Months |
6 Months |
9 Months |
6 Months |
6 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Special |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.713558 |
0.75577 |
0.761121 |
0.754409 |
0.688522 |
|
|
|
|
|
|
|
|
Net Turnover |
511.5 |
415.1 |
595.0 |
391.7 |
389.8 |
|
Other Op. Income |
9.7 |
5.5 |
18.6 |
6.7 |
31.0 |
|
Total Revenue |
521.3 |
420.7 |
613.6 |
398.4 |
420.8 |
|
|
|
|
|
|
|
|
Stocks |
-11.4 |
21.5 |
- |
-8.6 |
-26.1 |
|
Purchases |
287.3 |
189.5 |
448.4 |
207.4 |
212.1 |
|
Personnel Expenses |
60.2 |
58.8 |
85.9 |
58.6 |
81.1 |
|
Other Fixed Costs |
- |
- |
69.8 |
- |
- |
|
Other Op. Expenses |
158.1 |
138.2 |
1.3 |
139.4 |
182.7 |
|
Depreciation |
13.0 |
12.3 |
19.7 |
13.3 |
13.1 |
|
Loss/Assets |
- |
- |
0.0 |
- |
- |
|
Total Operating Expense |
507.2 |
420.4 |
625.1 |
410.2 |
462.9 |
|
|
|
|
|
|
|
|
Financial Result - Ordinary |
- |
- |
-4.1 |
- |
- |
|
Other Financial Income |
0.3 |
0.4 |
- |
0.3 |
1.1 |
|
Financial Expenses |
-6.1 |
-4.5 |
- |
-3.4 |
4.4 |
|
Other Financial Expenses |
- |
- |
- |
- |
-7.5 |
|
Foreign Currency Adjustment |
-0.1 |
-1.2 |
- |
1.5 |
-1.1 |
|
Equity Method |
0.5 |
- |
- |
- |
- |
|
Other Results |
- |
- |
1.2 |
- |
- |
|
Net Income Before Taxes |
8.7 |
-5.0 |
-14.3 |
-13.3 |
-45.2 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
0.0 |
0.1 |
-0.1 |
-0.1 |
1.6 |
|
Net Income After Taxes |
8.7 |
-5.1 |
-14.3 |
-13.3 |
-46.8 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.1 |
-0.1 |
-0.3 |
-0.1 |
0.4 |
|
Net Income Before Extra. Items |
8.6 |
-5.3 |
-14.5 |
-13.4 |
-46.5 |
|
Discontinued Operations |
0.0 |
1.4 |
- |
0.7 |
0.8 |
|
Net Income |
8.6 |
-3.9 |
-14.5 |
-12.7 |
-45.7 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
8.6 |
-5.3 |
-14.5 |
-13.4 |
-46.5 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
8.6 |
-3.9 |
-14.5 |
-12.7 |
-45.7 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
100.6 |
100.6 |
100.6 |
100.6 |
100.6 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.09 |
-0.05 |
-0.14 |
-0.13 |
-0.46 |
|
Basic EPS Including ExtraOrdinary Item |
0.09 |
-0.04 |
-0.14 |
-0.13 |
-0.45 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
8.6 |
-3.9 |
-14.5 |
-12.7 |
-45.7 |
|
Diluted Weighted Average Shares |
100.6 |
100.6 |
100.6 |
100.6 |
100.6 |
|
Diluted EPS Excluding ExtraOrd Items |
0.09 |
-0.05 |
-0.14 |
-0.13 |
-0.46 |
|
Diluted EPS Including ExtraOrd Items |
0.09 |
-0.04 |
-0.14 |
-0.13 |
-0.45 |
|
DPS-Ordinary Shares |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
8.7 |
-5.0 |
-14.3 |
-13.3 |
-45.2 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.0 |
0.1 |
-0.1 |
-0.1 |
1.6 |
|
Normalized Income After Taxes |
8.7 |
-5.1 |
-14.3 |
-13.3 |
-46.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
8.6 |
-5.3 |
-14.5 |
-13.4 |
-46.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.09 |
-0.05 |
-0.14 |
-0.13 |
-0.46 |
|
Diluted Normalized EPS |
0.09 |
-0.05 |
-0.14 |
-0.13 |
-0.46 |
|
Depreciation |
13.0 |
12.3 |
19.7 |
13.3 |
13.1 |
|
Advertising Expense, Supplemental |
0.3 |
0.3 |
- |
0.4 |
0.4 |
|
Rental Expense, Supplemental |
6.6 |
6.0 |
- |
7.5 |
8.1 |
Annual Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
0.683971 |
0.758351 |
|
Auditor |
Ernst &
Young SA |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Other Inventories |
41.6 |
34.7 |
53.2 |
54.5 |
53.3 |
|
Finished Goods |
49.0 |
71.5 |
103.9 |
97.9 |
80.5 |
|
Real Estate Development |
- |
- |
- |
0.0 |
1.8 |
|
Accounts Rcvbl. |
224.3 |
217.7 |
309.8 |
- |
- |
|
Provisions |
-14.0 |
-14.6 |
-10.5 |
- |
- |
|
Other Receivable |
- |
- |
- |
42.7 |
29.7 |
|
Accounts Receivable, Net |
- |
- |
- |
273.0 |
250.2 |
|
Cash and Equivalents |
23.4 |
21.0 |
3.0 |
49.3 |
6.2 |
|
Asset Securization Fund |
22.3 |
30.0 |
35.8 |
- |
- |
|
Other Assets |
22.9 |
26.3 |
13.3 |
42.1 |
29.2 |
|
Assets Held for Sale |
0.0 |
14.0 |
0.0 |
60.1 |
52.2 |
|
Total Current Assets |
369.7 |
400.5 |
508.5 |
619.5 |
503.0 |
|
|
|
|
|
|
|
|
Formation Exp. |
- |
- |
- |
0.8 |
6.3 |
|
Concessions |
- |
- |
- |
6.8 |
5.9 |
|
Software |
- |
- |
- |
8.9 |
6.3 |
|
Right Emissions |
- |
- |
- |
5.7 |
9.1 |
|
Other Intangibles |
- |
- |
- |
0.0 |
0.1 |
|
Intangibles |
24.5 |
23.9 |
24.3 |
- |
- |
|
Amort. Intangi. |
-11.8 |
-12.2 |
-11.8 |
-12.3 |
-11.9 |
|
Provisions |
-1.3 |
0.0 |
- |
-5.7 |
0.0 |
|
Land/Buildings |
279.6 |
302.6 |
325.8 |
340.3 |
311.6 |
|
Plant/Machine. |
1,302.4 |
1,398.9 |
1,282.7 |
1,347.3 |
1,200.1 |
|
Other Tangibles |
30.6 |
35.2 |
34.9 |
36.6 |
34.4 |
|
Work in Progress |
21.4 |
31.5 |
50.2 |
23.3 |
26.4 |
|
Depreciation |
-978.4 |
-1,048.9 |
-1,001.9 |
-1,007.0 |
-873.5 |
|
Provisions |
-252.1 |
-273.6 |
-265.1 |
-31.0 |
-4.6 |
|
Real Estate Investments |
28.6 |
30.5 |
14.8 |
31.6 |
28.7 |
|
LT Investments |
16.9 |
18.6 |
7.9 |
10.5 |
74.8 |
|
Invest./Equity |
6.1 |
6.6 |
6.4 |
6.6 |
4.3 |
|
Goodwill |
0.1 |
0.1 |
0.0 |
0.1 |
0.1 |
|
Deferred Tax |
4.6 |
4.8 |
6.0 |
5.5 |
5.2 |
|
Total Assets |
840.7 |
918.4 |
982.8 |
1,387.5 |
1,326.3 |
|
|
|
|
|
|
|
|
Bonds |
95.7 |
0.0 |
- |
- |
- |
|
Bank Loans |
50.7 |
59.4 |
113.3 |
123.3 |
228.6 |
|
Leasing Debts |
1.4 |
1.5 |
1.9 |
1.4 |
1.8 |
|
Accounts Payable |
187.1 |
187.5 |
181.8 |
215.6 |
212.1 |
|
Provisions |
5.0 |
12.7 |
14.3 |
5.5 |
16.1 |
|
Taxes |
- |
- |
- |
0.0 |
0.2 |
|
Other Current Liabilities |
36.5 |
3.2 |
57.8 |
81.4 |
86.6 |
|
Suppliers of Fixed Assets |
3.1 |
7.5 |
5.1 |
- |
- |
|
Public Adminstration |
11.8 |
12.5 |
2.8 |
- |
- |
|
Unpaid Wages |
11.8 |
6.6 |
6.5 |
- |
- |
|
Liabilities Held for Sale |
0.0 |
3.1 |
0.0 |
- |
- |
|
Total Current Liabilities |
403.1 |
294.1 |
383.6 |
427.2 |
545.4 |
|
|
|
|
|
|
|
|
Bonds |
0.0 |
102.3 |
99.1 |
104.3 |
0.0 |
|
Bank Loans |
1.0 |
0.8 |
2.8 |
9.3 |
160.9 |
|
Leasing Debts |
1.4 |
2.8 |
1.8 |
3.0 |
1.7 |
|
Total Long Term Debt |
2.4 |
106.0 |
103.7 |
116.5 |
162.6 |
|
|
|
|
|
|
|
|
Provisions |
57.1 |
90.9 |
70.1 |
100.5 |
82.8 |
|
Minority Int. |
0.6 |
0.4 |
1.8 |
1.3 |
2.6 |
|
Deferred Tax |
49.4 |
52.5 |
49.3 |
52.6 |
48.3 |
|
Other LT Liabilities |
71.0 |
80.1 |
18.6 |
13.5 |
12.5 |
|
Total Liabilities |
583.5 |
624.1 |
627.1 |
711.7 |
854.2 |
|
|
|
|
|
|
|
|
Share Capital |
40.5 |
231.0 |
503.5 |
529.6 |
341.2 |
|
Share Premium |
- |
0.0 |
151.7 |
159.6 |
90.9 |
|
Legal Reserve |
20.7 |
5.1 |
24.7 |
26.0 |
23.4 |
|
Difference Reserve |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Other Reserves |
233.8 |
151.4 |
-20.0 |
31.7 |
20.9 |
|
Valuation Reserve |
-1.1 |
-0.8 |
-0.8 |
-1.4 |
1.8 |
|
Capital Increase Exp. |
-20.1 |
-21.5 |
-20.8 |
-21.9 |
-12.1 |
|
Profit & Loss |
-16.7 |
-71.0 |
-282.7 |
-47.9 |
5.9 |
|
Total Equity |
257.3 |
294.3 |
355.7 |
675.8 |
472.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
840.7 |
918.4 |
982.8 |
1,387.5 |
1,326.3 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
100.6 |
100.6 |
100.6 |
100.6 |
76.7 |
|
Total Common Shares Outstanding |
100.6 |
100.6 |
100.6 |
100.6 |
76.7 |
|
T/S-Ordinary Shares |
0.0 |
0.0 |
- |
- |
- |
|
Accumulated Intangible Amortization |
11.8 |
12.2 |
11.9 |
12.3 |
11.9 |
|
Full-Time Employees |
1,610 |
1,713 |
1,898 |
2,100 |
2,162 |
|
LT Debt Maturing in 1 Year |
50.7 |
59.4 |
113.3 |
124.7 |
230.3 |
|
LT Debt Maturing in 2 Years |
0.0 |
0.9 |
2.7 |
7.6 |
36.0 |
|
LT Debt Maturing in 3 Years |
1.0 |
0.4 |
1.0 |
2.8 |
30.9 |
|
LT Debt Maturing in 4 Years |
0.0 |
0.5 |
0.4 |
1.4 |
28.1 |
|
LT Debt Maturing in 5 Years |
0.0 |
0.1 |
0.2 |
0.2 |
27.0 |
|
LT Debt/ Remaining Maturities |
- |
0.0 |
0.3 |
0.2 |
40.6 |
|
Total Long Term Debt, Supplemental |
51.6 |
61.2 |
117.9 |
137.0 |
393.0 |
|
Capital Leases Due Within 1 Y |
1.4 |
1.5 |
1.9 |
1.4 |
- |
|
Capital Leases Due Within 2 Y |
0.8 |
1.0 |
0.8 |
1.0 |
- |
|
Capital Leases Due Within 3 Y |
0.5 |
0.6 |
0.7 |
0.7 |
- |
|
Capital Leases Due Within 4 Y |
0.1 |
0.3 |
0.3 |
0.7 |
- |
|
Capital Leases/ Remaining Maturities |
0.0 |
0.9 |
0.0 |
0.6 |
- |
|
Total Capital Leases |
2.8 |
4.3 |
3.7 |
4.4 |
- |
|
Operating Leases within 1 Y |
1.0 |
1.1 |
1.2 |
- |
- |
|
Operating Leases in 2 Y |
0.0 |
- |
1.2 |
- |
- |
|
Total Operating Leases |
1.0 |
1.1 |
2.3 |
- |
- |
Interim Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Jun-2010 |
31-Dec-2009 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.689727 |
0.704672 |
0.745406 |
0.816393 |
0.696986 |
|
|
|
|
|
|
|
|
Inventory |
95.2 |
- |
90.7 |
80.5 |
106.1 |
|
Accounts Rcvbl. |
261.2 |
- |
210.4 |
195.2 |
203.1 |
|
Cash and Equivalents |
84.1 |
- |
45.7 |
47.0 |
51.0 |
|
Assets Held for Sale |
- |
- |
0.0 |
15.2 |
14.0 |
|
Current Assets |
24.6 |
445.8 |
22.9 |
22.5 |
26.3 |
|
Total Current Assets |
465.0 |
445.8 |
369.7 |
360.4 |
400.5 |
|
|
|
|
|
|
|
|
Intangibles |
11.0 |
- |
11.4 |
12.3 |
11.8 |
|
Tangibles |
428.2 |
- |
403.5 |
372.7 |
445.6 |
|
Real Estate Investments |
30.9 |
- |
28.6 |
26.1 |
30.5 |
|
Investment - Affiliates |
8.3 |
- |
6.1 |
5.6 |
6.6 |
|
LT Financial Assets |
18.3 |
- |
16.9 |
15.3 |
18.6 |
|
Deferred Tax |
4.9 |
- |
4.6 |
4.3 |
4.8 |
|
Other LT Assets |
- |
497.9 |
- |
- |
- |
|
Total Assets |
966.5 |
943.7 |
840.7 |
796.7 |
918.4 |
|
|
|
|
|
|
|
|
Bonds |
103.4 |
- |
95.7 |
- |
- |
|
Bank Loans |
45.8 |
- |
52.1 |
55.7 |
60.9 |
|
Accounts Payable |
252.7 |
- |
187.1 |
179.0 |
187.5 |
|
Provisions |
3.7 |
- |
5.0 |
5.5 |
12.7 |
|
Other ST Liabilities |
68.1 |
474.5 |
63.2 |
49.5 |
29.9 |
|
Assets Held fo Sale |
- |
- |
0.0 |
5.2 |
3.1 |
|
Issuance of obligations |
- |
- |
- |
87.3 |
- |
|
Total Current Liabilities |
473.6 |
474.5 |
403.1 |
382.2 |
294.1 |
|
|
|
|
|
|
|
|
Bonds |
0.0 |
- |
0.0 |
- |
- |
|
Bank Loans |
1.3 |
- |
2.4 |
2.1 |
106.0 |
|
Total Long Term Debt |
1.3 |
- |
2.4 |
2.1 |
106.0 |
|
|
|
|
|
|
|
|
Provisions |
60.0 |
- |
57.1 |
58.6 |
90.9 |
|
Minority Int. |
0.8 |
0.7 |
0.6 |
0.4 |
0.4 |
|
Deferred Tax |
53.4 |
- |
49.4 |
44.8 |
52.5 |
|
Other LT Liabilities |
89.4 |
191.1 |
71.0 |
70.9 |
80.1 |
|
Total Liabilities |
678.4 |
666.3 |
583.5 |
559.2 |
624.1 |
|
|
|
|
|
|
|
|
Share Capital |
43.8 |
- |
40.5 |
37.0 |
231.0 |
|
Reserves |
257.1 |
- |
253.6 |
230.6 |
155.8 |
|
Profit & Loss |
8.9 |
- |
-16.7 |
-11.7 |
-71.0 |
|
Other |
-21.7 |
- |
-20.1 |
-18.3 |
-21.5 |
|
Total Equity |
- |
277.4 |
- |
- |
- |
|
Total Equity |
288.1 |
277.4 |
257.3 |
237.5 |
294.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
966.5 |
943.7 |
840.7 |
796.7 |
918.4 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
100.6 |
100.6 |
100.6 |
100.6 |
100.6 |
|
Total Common Shares Outstanding |
100.6 |
100.6 |
100.6 |
100.6 |
100.6 |
|
T/S-Ordinary Shares |
0.0 |
- |
0.0 |
0.0 |
0.0 |
|
Full-Time Employees |
1,629 |
- |
1,610 |
1,692 |
1,713 |
Annual Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
Ernst & Young
SA |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Operating Profit / Loss |
-18.3 |
-70.9 |
-297.4 |
-45.6 |
19.9 |
|
Depreciation |
25.6 |
23.4 |
58.1 |
56.0 |
- |
|
Value Correction on Impairments |
-3.8 |
14.3 |
290.0 |
30.2 |
- |
|
Provisions |
-1.2 |
37.4 |
5.4 |
36.6 |
15.4 |
|
Subventions |
-3.9 |
-4.7 |
-7.6 |
-1.9 |
- |
|
Impairment/Sale of Assets Result |
-4.7 |
-39.3 |
-4.8 |
3.9 |
- |
|
Financial Income |
-0.7 |
-3.9 |
-1.7 |
-32.5 |
- |
|
Financial Expense |
7.8 |
7.2 |
2.9 |
22.8 |
- |
|
Exchange Difference |
-0.3 |
1.3 |
-1.0 |
0.0 |
- |
|
Other Gains/Losses |
2.4 |
6.7 |
19.0 |
15.8 |
- |
|
Negative Consolidation Difference |
- |
- |
- |
- |
-32.9 |
|
Works Fixed Assets |
- |
- |
- |
- |
-2.3 |
|
Amortization of Intangibles |
- |
- |
- |
- |
50.8 |
|
Inventories |
13.1 |
35.4 |
-26.1 |
-3.3 |
-17.3 |
|
Impairments due to Disc. Operations |
-2.1 |
0.0 |
- |
- |
- |
|
Receivables |
-21.0 |
81.8 |
-3.0 |
10.7 |
-11.1 |
|
Other ST Assets |
1.7 |
-13.4 |
26.2 |
0.7 |
- |
|
Payables |
-2.0 |
0.8 |
-24.3 |
-18.4 |
-40.5 |
|
Other ST Liabilities |
-3.3 |
4.4 |
-7.0 |
-16.8 |
- |
|
Other LT Liabilities |
0.0 |
1.7 |
-19.4 |
-5.5 |
- |
|
Interest Paid |
-5.5 |
-6.2 |
-12.3 |
-19.0 |
- |
|
Interest Gained |
1.1 |
1.2 |
3.0 |
2.3 |
- |
|
Tax Paid |
-1.0 |
0.0 |
-0.2 |
-0.2 |
-0.2 |
|
Other Payments |
0.0 |
-21.9 |
0.0 |
- |
- |
|
Discontinued Operations |
2.1 |
1.6 |
0.4 |
- |
- |
|
Miscalculous Adjustment |
- |
-0.1 |
-0.5 |
-13.7 |
- |
|
Cash from Operating Activities |
-14.0 |
56.9 |
0.0 |
22.0 |
-18.2 |
|
|
|
|
|
|
|
|
Purchase of Tangibles |
-10.7 |
-50.9 |
-56.6 |
-30.7 |
-29.0 |
|
Purchase of Intangibles |
0.0 |
-2.3 |
-1.1 |
-4.5 |
0.0 |
|
Purchase of Investment |
- |
0.0 |
-0.1 |
0.0 |
-3.3 |
|
Purchase of Business |
0.0 |
-1.7 |
0.0 |
- |
- |
|
Other Assets |
- |
- |
0.0 |
-2.2 |
4.8 |
|
Sale of Fixed Assets |
2.8 |
0.1 |
0.5 |
0.0 |
- |
|
Purchase of Other Investment |
0.0 |
-0.8 |
-0.9 |
-2.7 |
0.0 |
|
Sale of Intangibles |
2.1 |
2.9 |
4.8 |
0.0 |
0.4 |
|
Sale of Other Investments |
0.5 |
2.9 |
0.7 |
3.2 |
- |
|
Discontinued Operations |
12.2 |
0.0 |
60.9 |
0.0 |
- |
|
Interest Received |
- |
- |
- |
- |
2.6 |
|
Miscalculous Adjustment |
- |
- |
- |
2.2 |
- |
|
Cash from Investing Activities |
6.8 |
-49.8 |
8.2 |
-34.7 |
-24.5 |
|
|
|
|
|
|
|
|
Bank Loans Obtained |
1.9 |
0.0 |
124.3 |
13.2 |
98.8 |
|
Bank Loans Repaid |
0.0 |
-50.8 |
-136.0 |
-246.8 |
-35.6 |
|
Other Debt Issuance |
6.5 |
56.0 |
0.0 |
- |
- |
|
Other Debt Repaid |
-2.4 |
- |
- |
- |
- |
|
Increase of Capital |
- |
- |
0.0 |
188.4 |
- |
|
Capital Premium |
- |
- |
- |
0.0 |
- |
|
Interest Received |
- |
- |
- |
- |
0.0 |
|
Interest Paid |
- |
- |
- |
- |
-17.3 |
|
Bonds Emission |
- |
- |
- |
97.6 |
- |
|
Dividends Paid |
-0.8 |
-1.7 |
-5.0 |
- |
- |
|
Adjustment |
- |
- |
- |
- |
0.0 |
|
Cash from Financing Activities |
5.3 |
3.5 |
-16.6 |
52.4 |
45.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
- |
- |
- |
- |
-0.2 |
|
Net Change in Cash |
-1.9 |
10.6 |
-8.5 |
39.7 |
3.0 |
|
|
|
|
|
|
|
|
Net Cash-Beginning Balance |
47.1 |
38.8 |
49.3 |
6.4 |
2.9 |
|
Net Cash-Ending Balance |
45.2 |
49.5 |
40.9 |
46.2 |
5.9 |
|
Cash Interest Paid |
5.5 |
6.2 |
12.3 |
19.0 |
17.3 |
|
Cash Taxes Paid |
1.0 |
0.0 |
0.2 |
0.2 |
0.2 |
Interim Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Dec-2010 |
30-Jun-2010 |
31-Dec-2009 |
30-Jun-2009 |
|
Period Length |
6 Months |
12 Months |
6 Months |
12 Months |
6 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.713558 |
0.755078 |
0.754409 |
0.719047 |
0.749639 |
|
|
|
|
|
|
|
|
Net Income |
8.7 |
-18.3 |
-13.3 |
-70.9 |
-23.8 |
|
Depreciation |
13.0 |
25.6 |
13.3 |
23.4 |
10.9 |
|
Other Non-Cash |
- |
-3.8 |
- |
19.0 |
-22.0 |
|
Provisions |
0.8 |
-1.2 |
7.1 |
- |
- |
|
Grants |
-6.6 |
-3.9 |
-2.3 |
- |
- |
|
Loss on Assets |
-2.0 |
-6.8 |
-2.7 |
- |
- |
|
Financial Income |
-0.3 |
-0.7 |
-0.3 |
- |
- |
|
Financial Expense |
6.1 |
7.8 |
3.4 |
- |
- |
|
Foreign Exchange Differences |
0.1 |
-0.3 |
-1.5 |
- |
- |
|
Other Financial |
-0.1 |
2.4 |
-4.3 |
- |
- |
|
Inventories |
2.5 |
13.1 |
8.7 |
- |
- |
|
Receivables |
-33.2 |
-21.0 |
-27.3 |
- |
- |
|
Other Assets |
0.1 |
1.7 |
-0.1 |
- |
- |
|
Payables |
54.9 |
-2.0 |
20.6 |
- |
- |
|
Other Liabilities |
-1.6 |
-3.3 |
9.4 |
- |
- |
|
Changes in Current Capital |
- |
- |
- |
110.8 |
110.1 |
|
Interest Paid |
-3.3 |
-5.5 |
-2.6 |
-6.2 |
-3.8 |
|
Interest Collected |
0.2 |
1.1 |
0.3 |
1.2 |
0.6 |
|
Tax Paid |
- |
-1.0 |
- |
- |
- |
|
Other Operating CF |
0.0 |
0.0 |
0.4 |
-22.0 |
- |
|
Discontinued Operations |
- |
2.1 |
- |
1.6 |
- |
|
Adjustment |
- |
- |
- |
-0.1 |
- |
|
Cash from Operating Activities |
39.4 |
-14.0 |
8.7 |
56.9 |
71.9 |
|
|
|
|
|
|
|
|
Capital Expenditures |
-3.2 |
-10.7 |
-8.9 |
-53.2 |
-35.4 |
|
Other Financial Assets Acquired |
0.0 |
0.0 |
0.0 |
-0.8 |
-3.5 |
|
Purchase of Intangibles |
0.0 |
- |
-0.6 |
- |
- |
|
Sale of Intangibles |
5.5 |
2.1 |
0.1 |
- |
- |
|
Purchase of Business |
- |
- |
- |
-1.7 |
- |
|
Sale of Assets |
1.7 |
2.8 |
2.7 |
3.0 |
0.0 |
|
Sale of Investments |
- |
0.5 |
- |
2.9 |
- |
|
Discontinued Operations |
- |
12.2 |
- |
- |
- |
|
Cash from Investing Activities |
4.1 |
6.8 |
-6.7 |
-49.8 |
-38.9 |
|
|
|
|
|
|
|
|
Debt Issued |
28.9 |
8.5 |
14.2 |
56.0 |
67.4 |
|
Debt Paid |
-41.8 |
-2.4 |
-11.8 |
-50.8 |
-78.0 |
|
Dividends Paid |
0.0 |
-0.8 |
-0.8 |
-1.7 |
-1.3 |
|
Other Debt |
2.9 |
- |
- |
- |
- |
|
Cash from Financing Activities |
-10.0 |
5.3 |
1.6 |
3.5 |
-11.9 |
|
|
|
|
|
|
|
|
Net Change in Cash |
33.5 |
-1.9 |
3.7 |
10.6 |
21.1 |
|
|
|
|
|
|
|
|
Net Cash- Begining Balance |
47.8 |
47.1 |
47.1 |
38.8 |
37.3 |
|
Net Cash- Ending Balance |
81.3 |
45.2 |
50.8 |
49.5 |
58.4 |
|
Cash Interest Paid |
3.3 |
5.5 |
2.6 |
6.2 |
3.8 |
Geographic Segments
Financials in: As Reported (mil)
|
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Geographic Segments
Financials in: As Reported (mil)
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Business Segments
Financials in: As Reported (mil)
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Business Segments
Financials in: As Reported (mil)
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.92 |
|
UK Pound |
1 |
Rs.77.31 |
|
Euro |
1 |
Rs.64.12 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.