EXEL industries - 2019 Universal Registration Document

Consolidated fi nancial statements Notes to the consolidated fi nancial statements

Note c 10 Other receivables

09/30/2018 Net value

09/30/2019 Net value

(in € thousands)

Tax receivables excluding corporate income tax (mainly VAT)

6,356

7,574

Amounts receivable from payroll tax agencies

272

263

Advances and prepayments paid

1,007

673

Sundry debtors

2,087

2,077

Prepaid expenses

3,968

3,490

TOTAL

13,691

14,076

Other receivables mainly consist of amounts for VAT refunds.

4

Note c 11 Cash and cash equivalents

09/30/2018

09/30/2019

(in € thousands)

Marketable securities

3

76

Cash and Cash equivalent

88,960

78,854

TOTAL

88,963

78,930

The market value of marketable securities that consist mainly of money market funds is close to the carrying value. The Company does not have any investment portfolios of equity securities.

Note c 12 Share capital

At 9/30/2019, the parent company’s share capital consisted of 6,787,900 c ordinary shares with a par value of €2.50 per share. The Company does not have any dilutive instruments. There were no corporate actions in the period under review. At 09/30/2018, there were 1,969 c treasury shares. Policy for managing equity Equitymanagement involves mainly determining the level of current and future share capital and the policywith respect to the distribution of dividends.

The Group’s management policy is based on ensuring a su ffi cient level of equity to ensure that the Group’s fi nancial structure remains sound. The proper level of equity is monitored on the basis of gearing (net fi nancial debt to equity). In addition, for a number of years, a liquidity agreement has been set up to facilitate orderly trading of its shares on the market. This liquidity agreement does not permit the use of signi fi cant amounts of capital and allows for only marginal intervention in the trading of the Company’s shares on the market.

EXEL Industries Group I 2019 Universal Registration Document

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