BENETEAU (EPA:BEN) - 181030 BENETEAU Financial Statements 2017-18

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30/10/2018 17:45

Press release - October 30, 2018

                          FINANCIAL STATEMENTS 2017-18

Consolidated financial statements

Profit and Loss Account as of 31st August 2018

PROFIT AND LOSS - EUR'000
                                          Note     31/08/2018    31/08/2017
Revenues                                 Note 18    1 287 197     1 208 318
Change in inventories of  finished
products and work-inprogress                          7 136       (3 792)
Other operating revenues                              1 247          479
Purchased consumed                                 (623 294)    (590 124)
Staff costs                              Note 19   (367 595)    (320 533)
External expenses                        Note 20   (127 189)    (121 710)
Taxes other than on icome                           (22 907)     (20 783)
Depreciation                                        (65 299)     (63 990)
Other current operating expenses         Note 21     (4 468)      (4 339)
Other current operating income           Note 21      2 794        2 056
Operating income                         Note 18     87 620       85 582
Other operating income                   Note 22          0       (5 877)
Operating income                                     87 620       79 705
Income from cash and cash equivalents    Note 23        164           35
Cost of gross financial debt             Note 23     (3 024)      (2 326)
Cost of net financial debt               Note 23     (2 860)      (2 291)
Other financial income                   Note 23      4 086          565
Otehr financial expenses                 Note 23       (202)      (2 655)
Financial Result                         Note 23      1 024       (4 381)
Sahre in income of associates                         4 180        4 670
Corporate income tax                     Note 24    (32 434)     (19 899)
Consolidated net income                              60 390       60 095
Minority interests                                     (932)         386
Net income (Group share)                             61 322       59 709

EUR
Net ernings per share                    Note 25       0,74         0,72
Dilted net ernings per share             Note 25       0,74         0,72

Assets and Liabilities as of 31st August 2018

ASSETS - EUR'000                              31/08/2018      31/08/2017

Goodwill                                          81 394          78 507
Other intangible assets                           28 352          28 641
Property, plant and equipment                    330 224         312 555
Investments in associates and joint ventures      39 099          36 378
Non-current financial assets                         336             194
Deferred tax assets                                7 656           5 817
                    Non-current assets           487 061         462 092
Inventories and work-in-progress                 239 777         219 536
Trade receivables and related                     67 656          73 254
Other receivables                                 45 773          45 981
Current tax assets                                 1 413          16 651
Cash and cash equivalents                        265 258         214 296
                    Current assets               619 877         569 718
                    Assets held for sale           1 315           1 842
Total assets                                   1 108 253       1 033 652

Assets and Liabilities as of 31st August 2018

Shareholders' equity and liabilities - EUR,000
                                              31/08/2018      31/08/2017

Share capital                                      8 279           8 279
Additional paid-in-capital                        27 850          27 850
Treasury stock                                    (5 299)        (10 604)
Consolidated reserves                            539 484         504 072
Consolidated earnings                             61 322          59 709
          Shareholders' equity (Group share)     631 636         589 306
Minoriry interests                                 1 663           1 335
          Total shareholders' equity             633 299         590 641
Provisions                                         4 168           8 617
Employee benefits                                 26 022          25 611
Financial liabilites                              32 192          38 516
Deffered tax provision                                 0           2 145
          Non-current liabilities                 62 382          74 889
Short-term loan and current portion of
longterm loans                                    71 167          66 126
Trade payables and related                       106 632          96 946
Other liabilities                                196 492         175 631
Other provisions                                  28 847          27 553
Current tax liabilities                            8 844             409
           Current liabilities                   411 982         366 665
Liabilities held for sale                            590           1 458
Total shareholders'equity and liabilities      1 108 253       1 033 653

Cash flow statement
Cash flow statement - EUR'000                    2017/2018        2016/2017

Operating activites
Net income from the year                           57 669           55 912
Consolidated net income                    60 390            60 096
Share in income of associates
(restated for dividends received)          (2 721)           (4 184)
Emilination of income and expenses
without any impact on cahsflow or
unrelated to operations                            63 551           75 496
Depreciation and Provision                 65 455            73 509
Capital gain and loss on disposals          1 449               840
Deferred taxes                             (3 353)            1 147
Operating cash flow                               121 220          131 408
Change in working capital requirements             33 534           50 034
Inventories and work in progress          (18 090)           10 121
Receivables                                13 423            32 423
Current tax                                23 693            11 364
Payables                                   14 508            (3 874)
Total 1 - Cash flow from operating
activities                                        154 754          181 442
Investment activities
Fixed asstes aquisitions                          (82 727)         (75 878)
Fixed assets disposal                                (719)            (843)
Fixed assets - related receivables -
payables                                            2 155           (2 058)
Impact of change in scope                          (1 781)               0
Total 2 - cash flow from investment
activities                                        (83 072)         (78 779)
Financing activities
Change in share capital                                 0                0
Other cash flow from financing activities              (1)               0
Treasury stock                                      2 066               94
Dividends paid to shareholders                    (20 432)          (8 276)
Payment received in respect of financial debts      5 251           61 733
Repayment of financial debts                      (11 677)         (17 598)
Total 3 - Cash flow from financing activities     (24 793)          35 953
CHANGE IN CASH POSITION (1+2+3)                    46 889          138 616
Opening cash position (1)                         209 347           72 056
Closing cash position (1)                         256 297          209 347
Impact of changes in exchange rate                     61           (1 324)
Change                                             46 889          138 615
Of Which, Other transferable securities            15 000           41 150
Cash at bank and in hand                          250 258          173 146
Bank overdraft                                     (8 961)          (4 950)

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BENETEAU (EPA:BEN) - 181030 BENETEAU Financial Statements 2017-18

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