Consolidated Financial Statements

Consolidated profit and loss account

1000 €20222021
NET SALES228 342150 466
Change in inventory of finished goods2 231204
Work performed for own use1945
Other operating income701435
Raw materials and services
Raw materials and consumables
Purchases during the financial year-125 889-69 188
Change in stocks7 8641 909
Total raw materials and services-118 025-67 279
Personnel expenses
Wages and salaries-32 472-29 119
Social security expenses
Pension expenses-4 775-4 270
Other social security expenses-5 295-4 508
Total personnel expenses-42 542-37 898
Depreciation, amortisation and writedowns
Depreciation according to plan-8 811-8 683
Other operating expenses-35 009-28 645
OPERATING PROFIT26 9058 645
Financial income and expenses
Other interest income and other financial income70166
Impairment of investments03
Interest and other financial expenses-752-845
Total financial income and expenses-682-676
PROFIT BEFORE TAXES26 2237 969
Change in deferred tax liability13-93
Income taxes-4 707-1 808
PROFIT FOR THE FINANCIAL YEAR21 5296 069

Consolidated balance sheet

Assets

Non-current assets
1000 €20222021
Intangible assets
Intangible rights4 0252 678
Group goodwill6 4747 557
Total intangible assets10 49910 236
Tangible assets
Land and water1 7691 629
Buildings and constructions19 67719 841
Machinery and equipment16 01617 000
Other tangible assets167730
Advance payments and construction in
progress		10 3176 315
Total tangible assets47 94645 515
Investments
Shares290289
Associated companies2016
Other investments235250
Total investments546555
TOTAL NON-CURRENT ASSETS58 99156 305
Current assets
1000 €20222021
Stocks
Raw materials and consumables11 8296 792
Finished products4 7052 706
Other stocks9 7017 166
Advances paid1711 179
Total stocks26 40717 843
Receivables
Trade receivables34 67722 296
Loans receivable5134
Other receivables976513
Accrued income and prepayments547995
Total receivables36 25223 839
Financial securities
Other securities00
Cash in hand and cash at banks5 0596 119
TOTAL CURRENT ASSETS67 71747 802
TOTAL ASSETS126 708104 107

Equity and liabilities

Equity
1000 €20222021
Share capital3 1493 149
Share issue0176
Reserve for invested unrestricted equity1 5011 324
Disposition fund34 06033 183
Result for the reporting period21 5296 069
TOTAL EQUITY60 23843 901
Liabilities
1000 €20222021
Non-current liabilities
Deferred tax liability3 2893 303
Loans from credit institutions16 71218 023
Other long-term liabilities2 0502 133
Total non-current liabilities22 05123 459
Current liabilities
Loans from credit institutions5 0514 763
Advances received1 1344 621
Trade payables22 00415 140
Other payables4 3713 779
Accrued expenses11 8598 444
Total current liabilities44 41936 747
TOTAL LIABILITIES66 47060 206
TOTAL EQUITY AND LIABILITIES126 708104 107

Consolidated statement of cash flow

1000 €20222021
Cash flow from operating activities
Operating profit26 9058 645
Adjustments to operating profit8 8068 537
Changes in working capital-17 000-1 571
Interest paid-752-511
Interest received6546
Dividends received52
Income taxes paid-2 382-1 506
Net cash generated from operating activities15 64813 643
Cash flow from investing activities
Investments in tangible and intangible assets-12 063-9 693
Proceeds from sale of tangible and intangible assets8258
Acquisition of subsidiaries minus the company’s cash at the time of acquisition-226-2 405
Other investments140
Net cash used in investing activities-12 194-12 041
Cash flow from financing activities
Proceeds from short-term borrowings30439
Repayments of short-term borrowings-16-46
Proceeds from long-term borrowings2 000196
Repayment of long-term borrowings-3 379-2 403
Dividends paid and repayment of unrestricted equity-3 423-3 317
Share issue0176
Net cash used in financing activities-4 514-5 355
CHANGE IN CASH AND CASH EQUIVALENTS-1 060-3 752
Cash and cash equivalents at the beginning of the period6 1199 871
Change during the period-1 060-3 752
Cash and cash equivalents at the end
of the period		5 0596 119