TITAN CEMENT COMPANY S.A.
Company's Number in the General Electronic Commercial Registry: 224301000
(former Company's Number in the Register of Societes Anonymes: 6013/06/B/86/90)
22A Halkidos Street - 111 43 Athens
SUMMARY FINANCIAL RESULTS for the year ended 31 December 2013
(in terms of article 135 of Law 2190, for companies publishing annual financial statements in accordance with IAS/IFRS)
| Supervising Authority: |
Ministry of Development and Competitiveness (Department for limited companies) |
| Company's web address: |
www.titan-cement.com |
| Board of Directors: |
Andreas Canellopoulos - Chairman, Efstratios-Georgios (Takis) Arapoglou*-Deputy Chairman, Dimitri Papalexopoulos - Chief Executive Officer,
Nellos Canellopoulos, Takis-Panagiotis Canellopoulos, Doros Constantinou*, Vassilios Fourlis*, Domna Mirasyesi-Bernitsa*, Alexandra Papalexopoulou-Benopoulou, Petros Sabatacakis*, Ploutarchos Sakellaris*, Michael Sigalas, Eftichios Vassilakis*,Efthimios Vidalis, Vassilios Zarkalis.
*Independent non-executive directors
|
| Date of approval of the Financial Statements : |
27 February 2014 |
| Name of the auditor: |
Chris Pelendridis (SOEL R.N. 17831) |
| Auditing firm: |
Ernst & Young (HELLAS) Certified Auditors Accountants SA |
| Report of the Auditors: |
Without qualification |
CONDENSED STATEMENT OF FINANCIAL POSITION
| (Amounts in € thousand) |
GROUP |
COMPANY |
| ASSETS |
31/12/2013 |
31/12/2012 |
31/12/2013 |
31/12/2012 |
| Tangible assets |
1.605.635 |
1.759.036 |
232.332 |
237.672 |
| Investment properties |
13.220 |
8.546 |
13.973 |
11.959 |
| Intangible assets |
465.996 |
527.498 |
1.185 |
1.099 |
| Other non current assets |
17.840 |
19.682 |
1.246.708 |
1.216.163 |
| Inventories |
225.133 |
233.765 |
69.694 |
69.080 |
| Trade receivables |
125.033 |
127.488 |
28.708 |
30.658 |
| Other current assets |
63.698 |
71.755 |
17.023 |
26.702 |
| Cash and cash equivalents |
184.501 |
284.272 |
8.780 |
35.601 |
| TOTAL ASSETS |
2.701.056 |
3.032.042 |
1.618.403 |
1.628.934 |
| SHAREHOLDERS EQUITY AND LIABILITIES |
| Share Capital (84,632,528 shares of € 4.00) |
338.530 |
338.530 |
338.530 |
338.530 |
| Share Premium |
22.826 |
22.826 |
22.826 |
22.826 |
| Share stock options |
3.971 |
2.891 |
3.971 |
2.891 |
| Treasury Shares |
-87.680 |
-89.446 |
-87.680 |
-89.446 |
| Retained earnings and other reserves |
1.138.480 |
1.259.662 |
460.021 |
501.862 |
| Total share capital and reserves (a) |
1.416.127 |
1.534.463 |
737.668 |
776.663 |
| Non-controlling interests (b) |
122.683 |
125.478 |
- |
- |
| Total Equity (c)=(a)+(b) |
1.538.810 |
1.659.941 |
737.668 |
776.663 |
| Long-term borrowings |
610.433 |
705.227 |
745.835 |
741.950 |
| Provisions and other long-term liabilities |
230.234 |
270.427 |
31.807 |
41.925 |
| Short-term borrowings |
112.623 |
174.636 |
50.173 |
24.468 |
| Other short-term liabilities |
208.956 |
221.811 |
52.920 |
43.928 |
| Total liabilities (d) |
1.162.246 |
1.372.101 |
880.735 |
852.271 |
| TOTAL SHAREHOLDERS EQUITY AND LIABILITIES (c)+(d) |
2.701.056 |
3.032.042 |
1.618.403 |
1.628.934 |