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Financials
KME Group Financial Results
| (millions of Euro) |
2007 Rist. | 2006 Rist. | Var |
| Gross revenues |
3,485.3 | 3,556.8 | -2.0% |
| Raw material costs | (2,594.4) | (2,709.5) | -4.2% |
| Revenues net of raw material costs |
890.9 | 847.3 | +5.1% |
| Labor costs | (349.3) | (347.4) | 0.5% |
| Other materials and costs | (399.6) | (373.4) | 7.0% |
| EBITDA | 142.0 | 126.5 | +12.3% |
| Non-recurring income (expense) | (2.6) | (26.5) | n.s. |
| Depreciation and amortization | (50.6) | (53.7) | -5.8% |
| EBIT | 88.8 | 46.3 | +91.8% |
| Net financial expense | (36.5) | (41.6) | -12.3% |
| Interest in the result of companies valued by the equity method | 0.0 | 0.2 | n.s. |
| Result before taxes (non-IFRS inventory) |
52.3 | 4.9 | n.s. |
| Current taxes | (30.0) | (4.9) | n.s. |
| Deferred taxes | 26.0 | (8.5) | n.s. |
| Net result (non-IFRS inventory) |
48.3 | (8.5) | n.s. |
| Impact of IFRS valuation of inventory and LME contracts | (15.3) | 79.1 | n.s. |
| Income taxes on IFRS valuation of inventory and LME contracts | 8.2 | (18.9) | n.s. |
| Group interest in net result |
40.8 | 51.7 | -21.1% |
| Net Financial Position |
398.2 | 534.3 | -25.5% |
| Consolidated Net Equity |
537.6 | 495.2 | 8.6% |
In order to present a more meaningful picture of the performance of the Group’s industrial operations and make the data for different periods more readily comparable, certain components of the items used to compute EBITDA, EBIT and Net result were reclassified.
Specifically:
- Revenues are shown net of the value of raw materials to eliminate the impact of fluctuations in raw material prices.
- The impact on EBITDA, EBIT, result before taxes and net result of the adoption of the IFRS accounting principles to value the inventory of raw materials and the effect of valuing the corresponding London Metal Exchange hedging contracts at fair value was derecognized.
- Extraordinary items are shown below the EBITDA line.
FINANCIAL REPORTS
Annual report at 31.12.2007 now available as:TOOLS
