EXEL industries - 2019 Universal Registration Document

Management report 3

Company operations, consolidated and parent company fi nancial statements

Company operations, consolidated and parent company fi nancial statements

3.5

EXEL Industries has continued its two activities: „ managing and coordinating its direct subsidiaries, all more than 95% owned; „ managing and supervising its portfolio of patents, trademarks, designs and models for which it grants operating licenses.

3.5.1 Consolidated fi nancial statements - Main consolidated data

09/30/2018

09/30/2019

(in € ƭ millions)

Equity attributable to owners of the parent before appropriation of income

358.9

362.7

Goodwill

65.2

64.5

Net assets (excluding goodwill)

154.4

160.8

Cash and cash equivalents

89.0

78.9

Borrowings (current and non-current)

150.8

163.9

Provisions for contingencies and expenses (current and non-current)

63.6

48.5

SALES (EXCLUDING VAT)

776.7

839.1

Current operating income (EBIT)

32.8

61.7

Non-recurring income/(expenses)

(22.1)

0.1

Of which impairment of goodwill

-

-

Operating pro fi t

10.7

61.9

Financial income/(expenses)

(1.1)

(6.7)

Net income from consolidated operations

4.1

39.2

Net income attributable to the equity holders of the parent before appropriation

4.1

39.2

Operating cash fl ows (in euros)

30.4

50.5

Consolidated net income per share

0.6

5.8

Cash fl ow per share

4.5

7.4

3.5.1.1 Income statement „ Consolidated sales are 7.4% lower than for the period ended September c 30, 2018, down from €839.1 c million to €776.7 c million. „ Sales from exports fell 9.7% from 672.5 to €607.3 c million. International sales accounted for 78.2% of total sales, compared with 80.2% in the previous fi scal year. „ Saleswere negatively impacted by a translation loss of €2.9 c million, due to the appreciation of certain currencies, notably the US dollar. „ Current operating income (EBIT) rose from €61.7 c million to €32.8 c million after net depreciation allowances and provisions of €15.3 c million, compared with €15.1 c million in the prior period. „ The amount of net non-recurring income is negative at -€22.1 c million. This mainly re fl ects the restructuring plans we have

under way in the Agricultural Spraying and Sugar Beet Harvesters businesses (see note c 20 to Chapter c 4). „ Net financial expenses were -€1.1 c million. This includes net borrowing costs of -€3.8 c million plus net foreign exchange gains of €2.7 c million. „ Pro fi t before tax rose from €55.2 c million to €9.6 c million. „ The tax expense decreased from€16.3 c million in the previous fi scal year to €5.8 c million. „ Net income attributable to the Group declined 89.6%. It totals €4.1 c million, i.e. 0.5% of sales.

EXEL Industries Group I 2019 Universal Registration Document 42