Separate financial statements of the SAES Getters S.p.A. for the year ended December 31, 2013

Transcription

1 Separate financial statements of the S.p.A. for the year ended December 31,

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3 Income Statement ( Notes Third party net sales Intercompany net sales Total net sales Third party cost of sales ( ) ( ) Intercompany cost of sales ( ) ( ) Total cost of sales 5 ( ) ( ) Gross profit ( ) ( ) Research & development expenses 6 ( ) ( ) Selling expenses 6 ( ) ( ) General & administrative expenses 6 ( ) ( ) Total operating expenses ( ) ( ) Royalties third party Royalties Intercompany Other third party income (expenses), net (99.101) (37.468) Other intercompany income (expenses), net Total other income (expenses), net Operating income (loss) ( ) ( ) Dividends Third party financial income Intercompany financial income Total financial income Third party financial expenses ( ) ( ) Intercompany financial expenses ( ) ( ) Total financial expenses 8 ( ) ( ) Foreign exchange gains (losses), net 9 ( ) (73.413) Write down of intercompany investments 10 ( ) ( ) Income before taxes Income taxes Net income (loss) from continuing operations Net income (loss) from discontinuing operations 0 0 Net income (loss) Statement of comprehensive income ( Notes Net income (loss) for the period Actuarial gain (loss) on defined benefit plans ( ) Income tax (4.075) Actuarial gain (loss) on defined benefit plans, net of taxes ( ) Total components that will not be reclassified to the profit (loss) in subsequent periods ( ) Other comprehensive income (loss), net of taxes ( ) Total comprehensive income (loss), net of taxes

4 Statement of financial position ( ASSETS December 31 December 31 Notes Non Current Assets Property, plant and equipment, net Intangible assets, net Investments and other financial activities Non current tax consolidation receivables Deferred tax assets Other long term assets Total Non Current Assets Current Assets Inventory Third party trade receivables Intercompany trade receivables Trade receivables Derivative instruments evalutated at fair value Intercompany financial credits Tax consolidation receivables Prepaid expenses, accrued income and other Cash and cash equivalents Total Current Assets Total Assets

5 ( SHAREHOLDERS' EQUITY AND LIABILITIES December 31 December 31 Note Capital stock Share issue premium Tresury shares 0 0 Legal reserve Sundry reserves and retained earnings Net income (loss) for the period Shareholders' Equity Non Current Liabilities Staff leaving indemnity and other employee benefits Non current provisions Total Non Current Liabilities Current Liabilities Third party trade payables Intercompany trade payables Trade payables Intercompany financial payables Other payables Current provisions Bank overdraft Current portion of long term debt Other Financial Debts Total Current Liabilities Total Liabilities and Shareholders' Equity

6 Cash Flow Statement ( Cash flows provided from operating activities Net income from continuing operations Net income from discontinuing operations 0 0 Current income taxes ( ) ( ) Change in deferred income taxes ( ) ( ) Depreciation of property, plant and equipment Amortization of intangible assets Capital gains (losses) on sales of intangible assets (15.500) (40.846) Write down of assets Dividends in Income Statement ( ) ( ) Financial revenues (expenses), net Accrual for termination indemnities Accrual (utilization) for risk and contingencies, net ( ) ( ) ( ) ( ) Change in operating assets and liabilities Cash increase (decrease) in : Account receivables and other receivables (67.361) ( ) Inventory ( ) ( ) Trade account payables ( ) Other current payables ( ) ( ) ( ) ( ) Payments of termination indemnities ans similar obbligations ( ) ( ) Payments of debit interest and other financial expenses ( ) ( ) Interest and other financial receipts Income taxes received (paid) Cash flows from operating activities ( ) ( ) Cash flows used by investing activities Purchase of property, plant and equipment ( ) ( ) Proceeds from sales of property, plant and equipment Dividends received Purchase of intangible assets ( ) ( ) Decrease (increase) of non current financial assets ( ) ( ) Decrease (increase) of current financial assets (20.670) Cash flows from investing activities Cash flows used by financing activities Proceeds from short term financial debts Proceeds from long term financial debts 0 0 Proceeds from / repayments of Intercompany financial debts ( ) Dividends paid ( ) ( ) Purchase of treasury shares 0 0 Repayments of financial debts ( ) ( ) Cash flows from financing activities ( ) ( ) Exchange gains (losses) from balances conversion into foreign currencies 0 0 Increase (decrease) in cash equivalents, net ( ) Cash and equivalents at the beginning of the period Cash and cash equivalents, net, at the end of the period

7 Statement of changes in the shareholders' equity as at December 31, 2013 Statement of changes in the shareholders' equity as at December 31,

8 Annex 1 Statement of profit and loss prepared pursuant to CONSOB resolution no of July 27, 2006 and Communication no. DEM/ of July 28, of which: non recurring items 2013 adjusted Total net sales Cost of sales (5.546) 57 (5.603) Gross profit (loss) (1.105) 57 (1.162) R&D expenses (8.932) (205) (8.727) Selling expenses (4.324) (322) (4.002) G&A expenses (10.576) (541) (10.035) Total operating expenses (23.832) (1.068) (22.764) Royalties Other income (expenses), net Operating income (loss) (18.377) (1.011) (17.366) Interest and other financial income, net Oneri finanziari (3.072) 0 (3.072) Income (loss) from equity method evaluated companies Foreign exchange gains (losses), net (259) 0 (259) Income (loss) before taxes 865 (1.011) Income taxes Net income (loss) from continued operations (733) EBITDA (15.334) (1.011) (14.323) Annex 2 Non recurring income and expenses - 12 months ended Dec 31, 2013 Income Expenses Total Cost of sales Write down of assets Write down of inventory Personnel restructuring 69 (*) (12) 57 Total effect on cost of sales 69 (12) 57 Operating expenses Write down of assets 0 (320) (320) Write down of inventory 0 (340) (340) Personnel restructuring 173 (*) (581) (408) Total effect on operating expenses 173 (1.241) (1.068) Total effect on income (loss) before taxes 242 (1.253) (1.011) Income taxes 278 Net income (loss) from continued operations (733) (*) Personnel costs savings resulting from the use of social security provisions 168

9 Summary of main data of subsidiaries Financial Statements as of December 31,

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11 Statement of financial position 2013 SAES Advanced Technologies S.p.A. USA, Inc. (US Dollar) Korea Corporation Won) Subsidiaries International Luxembourg S.A. (Nanjing) Co., Ltd. (Chinese Renminbi) Export, Corp. (US Dollar) Memry GmbH E.T.C. S.r.l. SAES Nitinol S.r.l. Property, plant and equipment, net Intangible assets, net Other non current assets Current assets Total assets Shareholders' equity (1.032) (104) Non current liabilities Current liabilities Total liabilities and shareholders' equity Income statement 2013 SAES Advanced Technologies S.p.A. USA, Inc. Korea Corporation Subsidiaries International Luxembourg S.A. (Nanjing) Co., Ltd. Export, Corp. Memry GmbH E.T.C. S.r.l. SAES Nitinol S.r.l. (US Dollar) Won) (Chinese Renminbi) (US Dollar) Total net sales Cost of sales (21.348) ( ) ( ) 0 ( ) 0 (2.018) 0 0 Gross profit ( ) Research & development expenses (686) ( ) (156) (1.455) 0 Selling expenses (688) ( ) ( ) 0 ( ) (298) (0) 0 General & administrative expenses (2.763) ( ) ( ) (80) ( ) 0 (645) (35) (10) Total operating expenses (4.137) ( ) ( ) (80) ( ) (1.099) (1.491) (10) Other income (expenses), net (2.528) ( ) ( ) (585) (1) Operating income (loss) ( ) ( ) (2.076) (10) Interest and other financial income (expenses), net (209) (10.371) (28) (14) (147) Foreign exchange gains (losses), net (81) ( ) Income (loss) before taxes ( ) ( ) (2.090) (157) Income taxes (1.630) ( ) 0 (44) ( ) 0 (75) 0 43 Net income (loss) from continuing operations ( ) ( ) (2.090) (114) Net income (loss) from discontinuing operations Net income (loss) ( ) ( ) (2.090) (114) 171

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