Annual Report 2020
Annual Report 2020
| IN THOUSANDS OF EUR | 31. DEC 20 | 31. DEC 19 |
|---|---|---|
| Total revenues | 494.987 | 476.178 |
| Ebitda from Financial statements included IFRS 16 impact (1) | 70.777 | 52.268 |
| Ebitda adjusted included IFRS 16 impact (2) | 76.120 | 62.776 |
| Ebitda adjusted proforma included IFRS 16 (3) | - | 63.996 |
| Ebitda adjusted non included IFRS 16 impact | 64.207 | 51.413 |
| Operating profit | 25.211 | 15.161 |
| Income/(loss) before tax | 13.983 | 10.486 |
| Profit for the year | 4.885 | 3.678 |
| Net invested capital | 93.080 | 94.309 |
| Total net equity | 180.211 | 180.165 |
| - of which: third party | 1.618 | 1.186 |
| Net financial position | (124.558) | (127.540) |
(1) EBITDA: as result of the period before depreciation, amortization, financial
profits and cost and third parties effects
(2) EBITDA adjusted: as ebitda before not recurrent
revenues and costs
(3) EBITDA adjusted proforma: as ebitda rettified for the companies sold and
acquired during the year
Euro thousand
| ASSETS | 31. DEC 20 | 31. DEC 19 |
|---|---|---|
| NON CURRENT ASSETS | ||
| Property, plant and equipment | 87.138 | 84.772 |
| Goodwill | 177.751 | 174.173 |
| Other intangible assets | 45.510 | 49.698 |
| Financial assets | 344 | 365 |
| Deferred tax assets | 18.733 | 15.129 |
| Other receivables and non-current assets | 3.071 | 3.661 |
| Non current Assets | 332.547 | 327.798 |
| NON CURRENT ASSETS | ||
| Trade receivables | 173.689 | 169.606 |
| Financial assets | 2.766 | 6.401 |
| Other receivables and other current assets | 44.668 | 35.958 |
| Cash and cash equivalents | 75.449 | 64.403 |
| Current assets | 296.572 | 276.368 |
| Currents assets held for sale | - | 3.754 |
| ASSETS | 629.119 | 607.920 |
| Liabilities |
31. DEC 20 |
31. DEC 19 |
| EQUITY | ||
| Issued share capital | 49.518 | 49.518 |
| Translation reserve | (7.335) | (6.429) |
| First time adoption reserve | 1.407 | 1.407 |
| Other reserves | 91.368 | 91.006 |
| Retained earnings | 39.084 | 40.373 |
| Net profit (loss) of the year | 4.551 | 3.104 |
| Net Equity of the group | 178.593 | 178.979 |
| Capital and reserve of third parties | 1.284 | 612 |
| Result of third parties | 334 | 574 |
| Third parties equity | 1.618 | 1.186 |
| Equity | 180.211 | 180.165 |
| Non Current Liabilities | ||
| Payables due to banks and other lenders | 197.654 | 194.274 |
| Employee benefits | 12.965 | 13.550 |
| Provisions for risk and charges | 15.068 | 9.485 |
| Other payables and other non-current liabilities | 13.780 | 16.180 |
| Non Current Liabilities | 239.467 | 233.489 |
| CURRENT LIABILITIES | ||
| Payables due to banks and other lenders | 56.376 | 52.098 |
| Trade payables | 77.125 | 70.838 |
| Tax payables | 7.615 | 7.075 |
| Other payables and other current liabilities | 68.325 | 59.886 |
| Current liabilities | 209.441 | 189.897 |
| Liabilities held for sale | - | 4.369 |
| LIABILITIES | 629.119 | 607.920 |
Euro thousand
| Profit and Loss | 31. DEC 20 | 31. DEC 19 |
|---|---|---|
| Revenues | 486.552 | 465.463 |
| Other revenues | 8.465 | 10.715 |
| Total revenues | 494.987 | 476.178 |
| Cost of raw materials | 4.508 | 5.431 |
| Costs of services | 191.866 | 175.300 |
| Personnel costs | 215.117 | 228.344 |
| Depreciation and amortization | 32.005 | 30.021 |
| Provisions and impairments | 9.729 | 6.546 |
| Other costs | 16.551 | 15.375 |
| Total costs | 469.776 | 461.017 |
| Operating income | 25.211 | 15.161 |
| Equity values of investments | - | 3 |
| Financial revenues | 18.586 | 17.018 |
| Financial charges | 29.814 | 21.696 |
| Result before taxes | 13.983 | 10.486 |
| Income taxes for the year | 9.098 | 6.808 |
| Net income from ongoing assets | 4.885 | 3.678 |
| Profit and loss for the year | 4.885 | 3.678 |
| Profit (loss) of third parties | 334 | 574 |
| Profit
(loss) of the group |
4.551 | 3.104 |
| Components of comprehensive income that will not subsequently be reclassified to the income statement | ||
| Actuarial Gain/Loss on defined benefit plans | 2 | (227) |
| Total components of comprehensive income that will not subsequently be reclassified to the income statement | 2 | (227) |
| Components of comprehensive income that will subsequently be reclassified to the income statement | ||
| Differencies from currencies translation of financial statement on foreign currency | (905) | (644) |
| Derivatives | 280 | (1.481) |
| Tax Effect | (67) | 324 |
| Total components of comprehensive income that will subsequently be reclassified to the income statement | (692) | (1.481) |
| Total items of comprehensive income statement | 4.195 | 1.970 |
| Comprehensive net Income of the Group | 3.861 | 1.396 |
| Comprehensive net Income of third parties | 334 | 574 |
Euro thousand
| Profit and Loss | 31. DEC 20 | 31. DEC 19 |
|---|---|---|
| Profit before taxes from continuing operations | 13.983 | 10.486 |
| Profit before taxes (from continuing and held for sale operations) | 13.983 | 10.486 |
| Adjustments to reconcile profit for the year to cash flows from operating activities | ||
| Amortization of tangible and intangible assets | 32.005 | 30.021 |
| Provisions and impariments | 16.710 | 6.546 |
| Net financial expenses/(incomes) | 8.348 | 7.659 |
| Income taxes paid | (8.493) | (9.797) |
| Gain on assets disposal | - | (1.840) |
| Other non-monetary changes | 1.533 | (2.337) |
| Cash flow from operating activities before changes in working capital | 64.086 | 40.738 |
|
Net change in working capital:
|
||
| - Trade and other receivables | (20.641) | 952 |
| - Trade and other payables | 12.273 | 4.400 |
| - Other changes in net working capital | (4.926) | - |
| - Employee benefits and provisions for charges | (7.672) | (1.471) |
| Cash flow related to operating activities (A) | 43.120 | 44.618 |
| Cash flow from investing activities | ||
|
Investments (net of disposals) of fixed
assets:
|
||
| - Intangible | (10.975) | (7.929) |
| - Intangible | (19.718) | (4.591) |
| Sail of investments | - | 2.535 |
| Acquitions net of cash acquired | (3.578) | (6.195) |
| Cash flow related to investing activities (B) | (34.271) | (16.180) |
| Cash flow from financing activities | ||
| Openings of new bank loans | 53.414 | 27.289 |
| Repayment of bank loans and finance leases | (46.100) | (40.804) |
| Changes in financial assets | 4.200 | (3.633) |
| Financial charges paid | (9.198) | (8.968) |
| Financial income collected | 850 | 1.309 |
| Dividends paid | (402) | (2.617) |
| Cash flow related to financing activities (C ) | 2.764 | (27.424) |
| Net cash flow for the period (A) + (B) + (C ) | 11.613 | 1.014 |
| of which change in cash and cash equivalents arising from assets and liabilities held for sale | - | - |
| Net cash flow for the period (A) + (B) + (C) excluding change of cash and cash equivalents resulting from assets and liabilities held for sale | 11.613 | 1.014 |
| Cash at the beginning of the period | 64.403 | 63.436 |
| Exchange rate differences on cash and cash equivalents | (567) | (47) |
| Cash and cash equivalents at the end of the period | 75.449 | 64.403 |