|
Consolidated Accounts
Recognition of income and costs
| |
Financial years to 31 December |
| € ‘000s |
2006 |
2005 |
2004 |
| Conversion differences |
(1,867) |
789 |
(465) |
| Actuarial differences |
(87) |
(82) |
0 |
| Total of income and costs recognised directly against shareholders’ equity |
(1,955) |
707 |
(465) |
| Profit for the year |
19,553 |
26,586 |
20,013 |
| Balance of income and costs recognised for the year |
17,598 |
27,293 |
19,548 |
| Attributable to: |
|
|
|
| - Group share |
17,502 |
27,243 |
18,636 |
| - Minority interests |
97 |
50 |
912 |
Consolidated cash flow statement
| |
Financial years to 31 December |
| € ‘000s |
Continuing
businesses |
Discontinued
businesses |
2006 |
Continuing
businesses |
Discontinued
businesses |
2005 |
2004,* |
| Net profit from consolidated companies after tax |
18,933 |
620 |
19,553 |
25,191 |
1,395 |
26,586 |
20,014 |
| Add back non-cash items |
|
|
|
|
|
|
|
| Add back depreciation, amortization and provisions |
3,998 |
1,122 |
5,120 |
5,828 |
1,918 |
7,746 |
4,563 |
| Add back changes in deferred taxes |
478 |
(384) |
94 |
1,372 |
(664) |
708 |
(362) |
| Add back capital gains or losses on disposal |
(344) |
|
(344) |
(7,682) |
|
(7,682) |
41 |
| Add back share in profit of affiliated companies |
0 |
|
|
(739) |
|
(739) |
(1,213) |
| Other non-cash items |
34 |
|
34 |
0 |
|
|
187 |
| Tax charges |
9,393 |
884 |
10,277 |
7,558 |
1,753 |
9,311 |
8,222 |
| Cash flow from operations |
32,492 |
2,242 |
34,734 |
31,528 |
4,402 |
35,930 |
31,451 |
| Change in working capital used in operations |
4,298 |
(4,642) |
(344) |
418 |
(1,486) |
(1,068) |
5,791 |
| Cash tax payments |
(9,678) |
(275) |
(9,953) |
(8,392) |
|
(8,392) |
(7,987) |
| Financial charges paid |
(444) |
|
(444) |
(372) |
|
(372) |
|
| Net cash provided/(used) by operating activities (A) |
26,668 |
(2,675) |
23,993 |
23,182 |
2,916 |
26,098 |
29,255 |
| Acquisition of fixed assets |
(5,910) |
(17) |
(5,927) |
(4,738) |
(28) |
(4,766) |
(4,803) |
| Disposal of fixed assets |
1,432 |
|
1,432 |
417 |
|
417 |
455 |
| Short-term investments |
(1,139) |
|
(1,139) |
(1,102) |
|
(1,102) |
|
| Disposal of short-term investments |
1,102 |
|
1,102 |
0 |
|
|
|
| Acquisition of subsidiaries less cash acquired |
(16,196) |
|
(16,196) |
(4,340) |
|
(4,340) |
(34,879) |
| Disposal of subsidiaries |
1,080 |
|
1,080 |
9,000 |
|
9,000 |
|
| Dividends from affiliated companies |
0 |
|
|
1,725 |
|
1,725 |
1,303 |
| Net cash provided/(used) by investing activities (B) |
(19,631) |
(17) |
(19,648) |
961 |
(28) |
933 |
(39,227) |
| Dividends paid by the parent company |
(13,440) |
|
(13,440) |
(9,559) |
|
(9,559) |
(7,236) |
| Dividends paid to minority interests |
0 |
|
|
0 |
|
|
(166) |
| Capital increase |
390 |
|
390 |
725 |
|
725 |
306 |
| Repurchase of own shares |
0 |
|
|
0 |
|
|
(20,925) |
| New borrowings |
7,181 |
|
7,181 |
0 |
|
|
19,444 |
| Repayment of borrowings |
(3,110) |
|
(3,110) |
(7,301) |
|
(7,301) |
(1,051) |
| Net cash provided/(used) by financing activities (C) |
(8,979) |
- |
(8,979) |
(16,136) |
- |
(16,136) |
(9,628) |
| Impact of changes in exchange rates (D) |
(1,111) |
|
(1,111) |
1,028 |
|
1,028 |
8 |
| Change in net cash (A)+(B)+(C)+(D) |
(3,053) |
(2,692) |
(5,745) |
9,036 |
2,888 |
11,924 |
(18,289) |
| Opening net cash |
39,882 |
2,909 |
42,791 |
30,847 |
21 |
30,868 |
49,157 |
| Closing net cash |
36,829 |
217 |
37,046 |
39,882 |
2,909 |
42,791 |
30,868 |
(*) The impact of discontinued businesses is not signifi cant in 2004, as the Group acquired Ubitrade SA on 1 December 2004, and for this reason no comparative figures for this
discontinued business have been presented for this year.
|
|
|
|
