For the year ended December 31
In thousands of US Dollars 2016 2015
Unaudited Unaudited*
Continuing operations
Revenue 971,148 977,143
Cost of sales 784,340 820,286
Gross profit 186,808 156,857
Selling, general and administrative expenses 130,750 122,331
Environmental 1,873 (757)
Other income, net (5,683) (880)
Net other operating (income) expenses (3,810) (1,637)
Operating profit 59,868 36,163
Finance income (1,267) (1,328)
Finance expense 13,667 11,267
Foreign exchange gain (395) (1,712)
Net finance costs 12,005 8,227
Share of gain of associates and joint ventures, net of tax 1,804 632
Profit before income tax 49,667 28,568
Income tax expense 8,096 18,651
Profit for the year 41,571 9,917
Attributable to:
Shareholders of the Company 40,558 11,080
Non-controlling interests 1,013 (1,163)
Profit for the year 41,571 9,917
Earnings per share
Basic earnings per share 1.45 0.40
Diluted earnings per share 1.32 0.40
*AMG modified December 31, 2015 Income Statement presentation in order to take into consideration ESMA's latest recommendations.
AMG Advanced Metallurgical Group N.V.
Consolidated Statement of Financial Position
As at December 31
In thousands of US Dollars 2016
Unaudited 2015
Assets
Property, plant and equipment 226,098 215,833
Goodwill 22,729 18,676
Intangible assets 10,486 10,246
Investments in associates and joint ventures - 2,230
Derivative financial instruments 740 -
Other investments 29,930 14,000
Deferred tax assets 41,285 31,551
Restricted cash 2,526 2,527
Other assets 17,207 19,883
Total non-current assets 351,001 314,946
Inventories 143,593 126,389
Derivative financial instruments 4,007 978
Trade and other receivables 129,220 124,270
Other assets 31,598 27,648
Cash and cash equivalents 160,744 127,778
Assets held for sale 149 673
Total current assets 469,311 407,736
Total assets 820,312 722,682
AMG Advanced Metallurgical Group N.V.
Consolidated Statement of Financial Position
(continued)
As at December 31
In thousands of US Dollars 2016
Unaudited 2015
Equity
Issued capital 760 745
Share premium 389,066 382,978
Treasury shares (570) -
Other reserves (35,950) (49,500)
Retained earnings (deficit) (177,592) (205,662)
Equity attributable to shareholders of the Company 175,714 128,561
Non-controlling interests 22,073 25,006
Total equity 197,787 153,567
Liabilities
Loans and borrowings 150,959 112,217
Employee benefits 141,588 137,853
Provisions 30,854 29,617
Deferred revenue 2,822 13,539
Government grants 390 536
Other liabilities 6,484 8,821
Derivative financial instruments 887 5,642
Deferred tax liabilities 8,435 11,691
Total non-current liabilities 342,419 319,916
Loans and borrowings 9,621 3,222
Short term bank debt 7,500 11,304
Government grants 97 99
Liabilities associated with assets held for sale - 423
Other liabilities 57,431 42,872
Trade and other payables 133,328 108,019
Derivative financial instruments 4,661 8,379
Advance payments 29,404 44,184
Deferred revenue 10,198 16,124
Current taxes payable 7,065 3,093
Provisions 20,801 11,480
Total current liabilities 280,106 249,199
Total liabilities 622,525 569,115
Total equity and liabilities 820,312 722,682