BENETEAU (EPA:BEN) - BENETEAU : Financial Statements 2016-17

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31/10/2017 17:40

Press release October 31, 2017

FINANCIAL STATEMENTS 2016-17

GROUPE BENETEAU               COMPTE DE RESULTAT

EUR'000                             Note            31.08.2017    31.08.2016
Revenues                            Note 18          1 208 318     1 083 563
Change in inventories of finished
products and wprk-in-progress                           (3 792)       23 146
Other operating revenues                                   479         1 016
Purchased consumed                                    (590 124)     (561 914)
Staff costs Note 19                                   (320 533)     (294 858)
External expenses                   Note 20           (121 710)     (119 717)
Taxes other than on icome                              (20 783)      (19 770)
Depreciation                                           (63 990)      (62 689)
Other current operating expenses    Note 21             (4 339)       (7 270)
Other current operating income      Note 21              2 056          2 129
Operating income                    Note 18             85 582         43 636
Other operating income              Note 22             (5 877)       (9 719)
Operating income                                        79 705         33 917
Income from cash and cash
equivalents                         Note 23                 35              0
Cost of gross financial debt        Note 23             (2 326)        (2 702)
Cost of net financial debt          Note 23             (2 291)        (2 702)
Other financial income              Note 23                565            638
Otehr financial expenses            Note 23             (2 655)        (3 349)
Financial Result                    Note 23             (4 381)        (5 413)
Sahre in income of associates                            4 670          3 231
Corporate income tax                Note 24            (19 899)        (6 582)
Consolidated net income                                 60 095         25 153
Minority interests                                         386            384
Net income (Group share)                                59 709         24 769

EUR
Net ernings per share               Note 25               0,72           0,30
Dilted net ernings per share        Note 25               0,72           0,30

ASSETS - EUR'000                                     31/08/2017    31/08/2016

Goodwill                                                 78 507        79 452
Other intangible assets                                  28 641        36 617
Property, plant and equipment                           312 555       302 175
Investments in associates and joint ventures             36 378        32 252
Non-current financial assets                                194           192
Deferred tax assets                                       5 817         7 281
Non-current assets                                      462 092       457 969
Inventories and work-in-progress                        219 536       228 327
Trade receivables and related                            73 254        88 537
Other receivables                                        45 981        33 572
Current tax assets                                       16 651        27 874
Cash and cash equivalents                               214 296        75 925
Current assets 5                                         69 718       454 235
Assets held for sale                                      1 842         4 971
Total assets                                          1 033 652       917 175
                                                        1033652

Shareholders' equity and liabilities - EUR,000        31/08/2017   31/08/2016

Share capital                                             8 279         8 279
Additional paid-in-capital                               27 850        27 850
Treasury stock                                          (10 604)      (10 697)
Consolidated reserves                                   504 072       481 013
Consolidated earnings                                    59 709        24 772
Shareholders' equity (Group share)                      589 306       531 217
Minoriry interests                                        1 335         1 039
Total shareholders' equity                              590 641       532 256
Provisions                                                8 617        10 507
Employee benefits                                        25 611        29 449
Financial liabilites                                     38 516        42 280
Deffered tax provision                                    2 145           235
Non-current liabilities                                  74 889        82 471
Short-term loan and current portion of
longterm loans                                           66 126        20 176
Trade payables and related                               96 946       106 794
Other liabilities                                       175 630       144 905
Other provisions                                         27 553        25 841
Current tax liabilities                                     409           240
Current liabilities                                     366 664       297 956
Liabilities held for sale                                 1 458         4 493
Total shareholders'equity and liabilities             1 033 652       917 175

31/10/2017

CASH FLOW STATEMENT

EUR'000                                              2016/2017      2015/2016

Operating activites
Net income from the year                                  55 912         22 654
Consolidated net income                          60 096           25 156
Share in income of associates
(restated for dividends received)                (4 184)         (2 502)
Emilination of income and expenses without any
impact on cahsflow or unrelated to operations             75 496         85 154
Depreciation and Provision                        73 509          83 256
Capital gain and loss on disposals                   840              61
Deferred taxes                                     1 147           1 837
Operating cash flow                                      131 408        107 808
Change in working capital requirements                    50 034         31 684
Inventories and work in progress                  10 121         (25 889)
Receivables                                       32 423          40 505
Current tax                                       11 364          (9 755)
Payables                                          (3 874)          26 823

Total 1 - Cash flow from operating activities              181 442      139 492

Investment activities Fixed asstes aquisitions            (75 878)     (71 110)
Fixed assets disposal                                        (843)        1 116
Fixed assets - related receivables - payables              (2 058)        1 270
Impact of change in scope                                        0         (65)

Total 2 - cash flow from investment activities             (78 779)    (68 789)

Financing activities
Change in share capital                                          0            0
Other cash flow from financing activities                        0            1
Treasury stock                                                  94      (3 614)
Dividends paid to shareholders                              (8 276)     (4 892)
Payment received in respect of financial debts              61 733        5 420
Repayment of financial debts                               (17 599)    (11 109)

Total 3 - Cash flow from financing activities                35 952     -14 194

CHANGE IN CASH POSITION (1+2+3)                             138 615      56 509

Opening cash position (1)                                    72 056      15 670
Closing cash position (1)                                   209 347      72 056
Impact of changes in exchange rate                          (1 324)       (123)
Change                                                      138 615      56 509

       Of Which, Other transferable securities               41 150         976
                 Cash at bank and in hand                   173 146      74 949
                 Bank overdraft                             (4 950)     (3 869)

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