{"id":77,"date":"2023-01-30T12:57:09","date_gmt":"2023-01-30T10:57:09","guid":{"rendered":"https:\/\/annualreport.forcitgroup.com\/?page_id=77"},"modified":"2023-03-09T13:56:27","modified_gmt":"2023-03-09T11:56:27","slug":"consolidated-financial-statements","status":"publish","type":"page","link":"https:\/\/annualreport.forcitgroup.com\/2022\/en\/financial-statements\/consolidated-financial-statements\/","title":{"rendered":"Consolidated Financial Statements"},"content":{"rendered":"\n
<\/div>\n\n\n\n

Consolidated profit and loss account<\/h3>\n\n\n\n\n\n\n\t\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
1000 \u20ac<\/th>2022<\/th>2021<\/th>\n<\/tr>\n<\/thead>\n
NET SALES<\/td>228 342<\/td>150 466<\/td>\n<\/tr>\n
Change in inventory of finished goods<\/td>2 231<\/td>204<\/td>\n<\/tr>\n
Work performed for own use<\/td>19<\/td>45<\/td>\n<\/tr>\n
Other operating income<\/td>701<\/td>435<\/td>\n<\/tr>\n
Raw materials and services<\/td><\/td><\/td>\n<\/tr>\n
Raw materials and consumables<\/td><\/td><\/td>\n<\/tr>\n
Purchases during the financial year<\/td>-125 889<\/td>-69 188<\/td>\n<\/tr>\n
Change in stocks<\/td>7 864<\/td>1 909<\/td>\n<\/tr>\n
Total raw materials and services<\/td>-118 025<\/td>-67 279<\/td>\n<\/tr>\n
Personnel expenses<\/td><\/td><\/td>\n<\/tr>\n
Wages and salaries<\/td>-32 472<\/td>-29 119<\/td>\n<\/tr>\n
Social security expenses<\/td><\/td><\/td>\n<\/tr>\n
Pension expenses<\/td>-4 775<\/td>-4 270<\/td>\n<\/tr>\n
Other social security expenses<\/td>-5 295<\/td>-4 508<\/td>\n<\/tr>\n
Total personnel expenses<\/td>-42 542<\/td>-37 898<\/td>\n<\/tr>\n
Depreciation, amortisation and writedowns<\/td><\/td><\/td>\n<\/tr>\n
Depreciation according to plan<\/td>-8 811<\/td>-8 683<\/td>\n<\/tr>\n
Other operating expenses<\/td>-35 009<\/td>-28 645<\/td>\n<\/tr>\n
OPERATING PROFIT<\/td>26 905<\/td>8 645<\/td>\n<\/tr>\n
Financial income and expenses<\/td><\/td><\/td>\n<\/tr>\n
Other interest income and other financial income<\/td>70<\/td>166<\/td>\n<\/tr>\n
Impairment of investments<\/td>0<\/td>3<\/td>\n<\/tr>\n
Interest and other financial expenses<\/td>-752<\/td>-845<\/td>\n<\/tr>\n
Total financial income and expenses<\/td>-682<\/td>-676<\/td>\n<\/tr>\n
PROFIT BEFORE TAXES<\/td>26 223<\/td>7 969<\/td>\n<\/tr>\n
Change in deferred tax liability<\/td>13<\/td>-93<\/td>\n<\/tr>\n
Income taxes<\/td>-4 707<\/td>-1 808<\/td>\n<\/tr>\n
PROFIT FOR THE FINANCIAL YEAR<\/td>21 529<\/td>6 069<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/div>\n\n\n\n

Consolidated balance sheet<\/h3>\n\n\n\n

Assets<\/h4>\n\n\n\n

Non-current assets<\/h5>\n\n\n\n\n\n\n\t\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
1000 \u20ac<\/th>2022<\/th>2021<\/th>\n<\/tr>\n<\/thead>\n
Intangible assets<\/td><\/td><\/td>\n<\/tr>\n
Intangible rights<\/td>4 025<\/td>2 678<\/td>\n<\/tr>\n
Group goodwill<\/td>6 474<\/td>7 557<\/td>\n<\/tr>\n
Total intangible assets<\/td>10 499<\/td>10 236<\/td>\n<\/tr>\n
Tangible assets<\/td><\/td><\/td>\n<\/tr>\n
Land and water<\/td>1 769<\/td>1 629<\/td>\n<\/tr>\n
Buildings and constructions<\/td>19 677<\/td>19 841<\/td>\n<\/tr>\n
Machinery and equipment<\/td>16 016<\/td>17 000<\/td>\n<\/tr>\n
Other tangible assets<\/td>167<\/td>730<\/td>\n<\/tr>\n
Advance payments and construction in
\nprogress<\/td>		10 317<\/td>6 315<\/td>\n<\/tr>\n
Total tangible assets<\/td>47 946<\/td>45 515<\/td>\n<\/tr>\n
Investments<\/td><\/td><\/td>\n<\/tr>\n
Shares<\/td>290<\/td>289<\/td>\n<\/tr>\n
Associated companies<\/td>20<\/td>16<\/td>\n<\/tr>\n
Other investments<\/td>235<\/td>250<\/td>\n<\/tr>\n
Total investments<\/td>546<\/td>555<\/td>\n<\/tr>\n
TOTAL NON-CURRENT ASSETS<\/td>58 991<\/td>56 305<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/div>\n\n\n\n
Current assets<\/h5>\n\n\n\n\n\n\n\t\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
1000 \u20ac<\/th>2022<\/th>2021<\/th>\n<\/tr>\n<\/thead>\n
Stocks<\/td><\/td><\/td>\n<\/tr>\n
Raw materials and consumables<\/td>11 829<\/td>6 792<\/td>\n<\/tr>\n
Finished products<\/td>4 705<\/td>2 706<\/td>\n<\/tr>\n
Other stocks<\/td>9 701<\/td>7 166<\/td>\n<\/tr>\n
Advances paid<\/td>171<\/td>1 179<\/td>\n<\/tr>\n
Total stocks<\/td>26 407<\/td>17 843<\/td>\n<\/tr>\n
Receivables<\/td><\/td><\/td>\n<\/tr>\n
Trade receivables<\/td>34 677<\/td>22 296<\/td>\n<\/tr>\n
Loans receivable<\/td>51<\/td>34<\/td>\n<\/tr>\n
Other receivables<\/td>976<\/td>513<\/td>\n<\/tr>\n
Accrued income and prepayments<\/td>547<\/td>995<\/td>\n<\/tr>\n
Total receivables<\/td>36 252<\/td>23 839<\/td>\n<\/tr>\n
Financial securities<\/td><\/td><\/td>\n<\/tr>\n
Other securities<\/td>0<\/td>0<\/td>\n<\/tr>\n
Cash in hand and cash at banks<\/td>5 059<\/td>6 119<\/td>\n<\/tr>\n
TOTAL CURRENT ASSETS<\/td>67 717<\/td>47 802<\/td>\n<\/tr>\n
TOTAL ASSETS<\/td>126 708<\/td>104 107<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/div>\n\n\n\n

Equity and liabilities<\/h4>\n\n\n\n

Equity<\/h5>\n\n\n\n\n\n\n\t\n\n\t\n\t\n\t\n\t\n\t\n\t
1000 \u20ac<\/th>2022<\/th>2021<\/th>\n<\/tr>\n<\/thead>\n
Share capital<\/td>3 149<\/td>3 149<\/td>\n<\/tr>\n
Share issue<\/td>0<\/td>176<\/td>\n<\/tr>\n
Reserve for invested unrestricted equity<\/td>1 501<\/td>1 324<\/td>\n<\/tr>\n
Disposition fund<\/td>34 060<\/td>33 183<\/td>\n<\/tr>\n
Result for the reporting period<\/td>21 529<\/td>6 069<\/td>\n<\/tr>\n
TOTAL EQUITY<\/td>60 238<\/td>43 901<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/div>\n\n\n\n
Liabilities<\/h5>\n\n\n\n\n\n\n\t\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
1000 \u20ac<\/th>2022<\/th>2021<\/th>\n<\/tr>\n<\/thead>\n
Non-current liabilities<\/td><\/td><\/td>\n<\/tr>\n
Deferred tax liability<\/td>3 289<\/td>3 303<\/td>\n<\/tr>\n
Loans from credit institutions<\/td>16 712<\/td>18 023<\/td>\n<\/tr>\n
Other long-term liabilities<\/td>2 050<\/td>2 133<\/td>\n<\/tr>\n
Total non-current liabilities<\/td>22 051<\/td>23 459<\/td>\n<\/tr>\n
Current liabilities<\/td><\/td><\/td>\n<\/tr>\n
Loans from credit institutions<\/td>5 051<\/td>4 763<\/td>\n<\/tr>\n
Advances received<\/td>1 134<\/td>4 621<\/td>\n<\/tr>\n
Trade payables<\/td>22 004<\/td>15 140<\/td>\n<\/tr>\n
Other payables<\/td>4 371<\/td>3 779<\/td>\n<\/tr>\n
Accrued expenses<\/td>11 859<\/td>8 444<\/td>\n<\/tr>\n
Total current liabilities<\/td>44 419<\/td>36 747<\/td>\n<\/tr>\n
TOTAL LIABILITIES<\/td>66 470<\/td>60 206<\/td>\n<\/tr>\n
TOTAL EQUITY AND LIABILITIES<\/td>126 708<\/td>104 107<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/div>\n\n\n\n

Consolidated statement of cash flow<\/h3>\n\n\n\n\n\n\n\t\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
1000 \u20ac<\/th>2022<\/th>2021<\/th>\n<\/tr>\n<\/thead>\n
Cash flow from operating activities<\/td><\/td><\/td>\n<\/tr>\n
Operating profit<\/td>26 905<\/td>8 645<\/td>\n<\/tr>\n
Adjustments to operating profit<\/td>8 806<\/td>8 537<\/td>\n<\/tr>\n
Changes in working capital<\/td>-17 000<\/td>-1 571<\/td>\n<\/tr>\n
Interest paid<\/td>-752<\/td>-511<\/td>\n<\/tr>\n
Interest received<\/td>65<\/td>46<\/td>\n<\/tr>\n
Dividends received<\/td>5<\/td>2<\/td>\n<\/tr>\n
Income taxes paid<\/td>-2 382<\/td>-1 506<\/td>\n<\/tr>\n
Net cash generated from operating activities<\/td>15 648<\/td>13 643<\/td>\n<\/tr>\n
Cash flow from investing activities<\/td><\/td><\/td>\n<\/tr>\n
Investments in tangible and intangible assets<\/td>-12 063<\/td>-9 693<\/td>\n<\/tr>\n
Proceeds from sale of tangible and intangible assets<\/td>82<\/td>58<\/td>\n<\/tr>\n
Acquisition of subsidiaries minus the company’s cash at the time of acquisition<\/td>-226<\/td>-2 405<\/td>\n<\/tr>\n
Other investments<\/td>14<\/td>0<\/td>\n<\/tr>\n
Net cash used in investing activities<\/td>-12 194<\/td>-12 041<\/td>\n<\/tr>\n
Cash flow from financing activities<\/td><\/td><\/td>\n<\/tr>\n
Proceeds from short-term borrowings<\/td>304<\/td>39<\/td>\n<\/tr>\n
Repayments of short-term borrowings<\/td>-16<\/td>-46<\/td>\n<\/tr>\n
Proceeds from long-term borrowings<\/td>2 000<\/td>196<\/td>\n<\/tr>\n
Repayment of long-term borrowings<\/td>-3 379<\/td>-2 403<\/td>\n<\/tr>\n
Dividends paid and repayment of unrestricted equity<\/td>-3 423<\/td>-3 317<\/td>\n<\/tr>\n
Share issue<\/td>0<\/td>176<\/td>\n<\/tr>\n
Net cash used in financing activities<\/td>-4 514<\/td>-5 355<\/td>\n<\/tr>\n
CHANGE IN CASH AND CASH EQUIVALENTS<\/td>-1 060<\/td>-3 752<\/td>\n<\/tr>\n
Cash and cash equivalents at the beginning of the period<\/td>6 119<\/td>9 871<\/td>\n<\/tr>\n
Change during the period<\/td>-1 060<\/td>-3 752<\/td>\n<\/tr>\n
Cash and cash equivalents at the end
\nof the period<\/td>		5 059<\/td>6 119<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Consolidated profit and loss account Consolidated balance sheet Assets Non-current assets Current assets Equity and liabilities Equity Liabilities Consolidated statement of cash flow […]<\/p>\n

Read More… from Consolidated Financial Statements<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":127,"parent":75,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-template-numbers.php","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-77","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/annualreport.forcitgroup.com\/2022\/wp-json\/wp\/v2\/pages\/77","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/annualreport.forcitgroup.com\/2022\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/annualreport.forcitgroup.com\/2022\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/annualreport.forcitgroup.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/annualreport.forcitgroup.com\/2022\/wp-json\/wp\/v2\/comments?post=77"}],"version-history":[{"count":5,"href":"https:\/\/annualreport.forcitgroup.com\/2022\/wp-json\/wp\/v2\/pages\/77\/revisions"}],"predecessor-version":[{"id":950,"href":"https:\/\/annualreport.forcitgroup.com\/2022\/wp-json\/wp\/v2\/pages\/77\/revisions\/950"}],"up":[{"embeddable":true,"href":"https:\/\/annualreport.forcitgroup.com\/2022\/wp-json\/wp\/v2\/pages\/75"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/annualreport.forcitgroup.com\/2022\/wp-json\/wp\/v2\/media\/127"}],"wp:attachment":[{"href":"https:\/\/annualreport.forcitgroup.com\/2022\/wp-json\/wp\/v2\/media?parent=77"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}