EXEL Industries // 2020 Universal registration document

Separate fi nancial statements

Notes to the parent company fi nancial statements

Loans and advances granted by the Company (net amount)

Other shareholders’ equity before appropriation

Net carrying value of the securities held

Pledges and guarantees given by the Company

Net income after tax

Dividends received by the Company during the fi scal year

Gross carrying value of securities held

Share of capital

for the last fi scal year 2020

Subsidiaries and equity investments (in € thousands)

Foreign currency Capital

of 2020 income

held (in%)

2020 sales

Siren

ERED

DKK K 400

-

100

ERED

€K

54

54 12,000

HOLMER Maschinenbau GmbH

€K 5,000

(4,738)

100 33,627 33,627 37,534

96,401 (8,001)

MATROTUK

GBPK

2 100

MATROTUK

€K

42

2

-

MINWORTH Property UK MINWORTH Property UK

GBPK 8,400

2,218 100

€K

11,891

11,891

7,992

557

RASINDECK Ltd (UK)

GBPK 15,122

10,638 100

RASINDECK Ltd (UK)

€K

16,619 16,619

- 10,965

VERMOREL (RO)

RONK 15,027

(17,007)

100

VERMOREL (RO)

€K

3,350

-

2,812

3,821

(269)

INGELIA (RO)

RONK

-

46 90

INGELIA (RO)

€K

2

2

-

-

6

Other equityholdings

€K

881 880 220,252 193,643 262,486

24,435

 AUD 247 thousand; these foreign exchange holdings were not covered by a currency hedge; they are measured at the closing rate of AUD 1.6438/€; this balance represented €150 thousand. As part of its international development activity, our Company grants loans or foreign currency current account debits to certain of the Group’s foreign subsidiaries. The asset and liability foreign currency translation adjustments are the result of foreign currency fl uctuations on the account closing date compared to the historical conversion rate. During the fi scal year the Company continued its foreign exchange risk policy by using short-term and medium-term lines of credit in foreign currencies to hedge its receivables due from foreign subsidiaries. These measures reduced the Company’s exposure to exchange rate impacts. Share capital The share capital is comprised of 6,787,900 fully paid up shares of €2.50 each. 10.

Inventories and work in progress

6.

Not applicable.

7. Trade receivables Receivables are recorded at face value. A provision for impairment is recognized in the event of di ffi culties to recover them. Marketable securities This line item includes treasury shares held in connection with a market-making agreement. At the fi scal year-end, there were 2,690 treasury shares valued at €33.7 per share for a total of €91 thousand. During the fiscal year, the Company purchased 19,062 shares at an average price of €40.28 per share and sold 18,341 shares at an average price of €40.07 per share. Foreign exchange risk At September 30, 2020, the Company held in its cash and cash equivalents:  USD 3,198 thousand; these foreign exchange holdings were not covered by a currency hedge; they are measured at the closing rate of USD 1.1708/€; this balance represented €2,731 thousand;  GBP 1,771 thousand; these foreign exchange holdings were not covered by a currency hedge; they are measured at the closing rate of GBP 0.9124/€; this balance represented €1,941 thousand; 8. 9.

Change in shareholders’ equity

11.

(in € thousands) Shareholders’ equity at September 30, 2019

329,935

Dividends

-

Net income for the fi scal year

20,973

Change in tax driven provisions

114

SHAREHOLDERS’ EQUITY AT SEPTEMBER 30, 2020

351,022

EXEL Industries group I 2020 Universal Registration Document

93