THERMADOR GROUPE
Private limited company with capital of €36,803,396
Head office: SAINT-QUENTIN-FALLAVIER (France / Isère).
80 rue du Ruisseau.
339 159 402 companies register of Vienne
I. - Financial statement June 30, 2022
(in thousands of euros)
Assets | 30/06/2022 | 30/06/2021 | 31/12/2021 |
Non-current assets: | |||
Goodwill | 56 317 | 56 317 | 56 317 |
Intangible assets | 8 767 | 9 471 | 9 129 |
Tangible assets: | 78 995 | 70 290 | 75 003 |
Land | 10 870 | 10 870 | 10 869 |
Buildings | 45 710 | 45 318 | 46 310 |
Other tangible assets | 8 936 | 6 270 | 6 185 |
Tangible assets in progress | 7 572 | 4 480 | 7 128 |
Right of use in rental contracts | 5 907 | 3 352 | 4 511 |
Financial investments | 410 | 364 | 356 |
Deferred tax assets | 1 324 | 1 402 | 1 281 |
Total non-current assets | 145 813 | 137 844 | 142 086 |
Current assets: | |||
Stock (goods) | 184 314 | 116 831 | 171 218 |
Trade notes and accounts receivable | 118 108 | 111 503 | 81 502 |
Current tax assets | 565 | 308 | 87 |
Deferred tax assets | 564 | 455 | 469 |
Other receivables | 15 531 | 14 372 | 13 766 |
Financial instruments | 590 | 243 | |
Cash and cash equivalent | 3 546 | 37 104 | 27 379 |
Total current assets | 323 218 | 280 816 | 294 421 |
Total assets | 469 031 | 418 660 | 436 507 |
29/07/2022 | 2022 Half-Yearly statements | Page 2 of 31 |
Liabilities | 30/06/2022 | 30/06/2021 | 31/12/2021 |
Equity : | |||
Share capital and reserves | 101 403 | 94 304 | 94 305 |
Consolidated reserves | 159 234 | 130 933 | 131 262 |
Portion of net profit allocated to the group | 30 825 | 28 240 | 52 899 |
Minority interests | 161 | 173 | 170 |
Total shareholders' equity | 291 623 | 253 650 | 278 636 |
Non-current liabilities: | |||
Loans and long-term financial debt | 9 814 | 19 183 | 12 659 |
Rental obligations over one year | 4 615 | 2 366 | 3 452 |
Deferred tax liabilities | 3 439 | 3 564 | 3 514 |
Provisions for end-of-career commitment | 4 134 | 4 595 | 3 930 |
Total non-current liabilities | 22 002 | 29 708 | 23 555 |
Current liabilities: | |||
Current provisions | 602 | 591 | 602 |
Rental obligations under one year | 1 272 | 1 006 | 1 065 |
Short-term loans | 18 749 | 344 | 2 390 |
Current portion of loans and financial long-term debt | 9 388 | 13 185 | 13 180 |
Accounts payable | 78 718 | 73 962 | 74 781 |
Equipment supply accounts payable | 2 296 | 1 874 | 2 651 |
Current tax liabilities | 2 116 | 4 613 | 5 806 |
Tax and social charges debt | 24 882 | 21 896 | 16 410 |
Other liabilities | 17 383 | 17 831 | 17 431 |
Total current liabilities | 155 406 | 135 302 | 134 316 |
Total liabilities and shareholders' equity | 469 031 | 418 660 | 436 507 |
29/07/2022 | 2022 Half-Yearly statements | Page 3 of 31 |
II. - Global consolidated profit statement June 30, 2022 (in thousands of euros)
Consolidated profit and loss account | 1st half 2022 | 1st half 2021 | FY 2021 |
Net turnover | 287 553 | 262 749 | 486500 |
Other income from activity | 402 | 313 | 752 |
Purchases consumed | -187 669 | -169 147 | -311 237 |
Personnel charges | -29 721 | -27 777 | -52 657 |
External costs | -22 174 | -20 192 | -38 224 |
Taxes | -2 768 | -2 709 | -4 002 |
Depreciation and amortisation | -2 991 | -2 819 | -5 796 |
Depreciation and amortisation - IFRS 16 impacts | -755 | -632 | -1 303 |
Increase in provisions | -363 | -495 | -214 |
Other earnings, other operating expenditure | -203 | -189 | -618 |
Operating profit | 41 311 | 39 102 | 73 201 |
Change in the fair value of financial instruments | |||
Cash earnings and equivalent | 39 | -10 | 2 |
Gross cost of debt | -153 | -87 | -189 |
Financial charges - IFRS 16 impacts | -38 | -15 | -32 |
Taxes | -10 343 | -10 746 | -20 082 |
Net profit | 30 816 | 28 244 | 52 900 |
Net profit as a portion of the group | 30 825 | 28 240 | 52 899 |
Net profit attributable to minority interests | -9 | 4 | 1 |
Net profit as a portion of the group per share in euros * | |||
3,35 | 3,07 | 5,75 | |
Net profit per share after dilution in euros ** | 3,18 | 2,91 | 5,45 |
- Earnings per share are calculated on 9,197,849 shares, 9,200,849 shares from which we have deducted the 3,000 treasury shares held on June 30, 2022, June 30, 2021 and December 31, 2021.
- Earnings per share after dilution are calculated on 9,697,849 shares, i.e., existing shares minus 3,000 treasury shares plus 500,000 shares corresponding to authorised non-issued capital of €2,000,000.
Statement of other elements of net overall consolidated profit | 1st half 2022 | 1st half 2021 | FY 2021 |
Net profit | 30 816 | 28 244 | 52 900 |
Other elements of overall profit: | |||
Actuarial discrepancy on end-of-career commitment provision | 222 | ||
Operations on treasury shares | -158 | - 158 | |
Fair value of financial instruments | 495 | 725 | 493 |
Total overall profit | 31 311 | 28 811 | 53 457 |
Total overall profit - Portion of the group | 31 320 | 28 807 | 53 456 |
Total overall profit allocated to minority interests | -9 | 4 | 1 |
29/07/2022 | 2022 Half-Yearly statements | Page 4 of 31 |
III. - Cash flow statement June 30, 2022 (in thousands of euros)
Cash flow statement | 30/06/2022 | 30/06/2021 | 31/12/2021 | ||||
Consolidated net profit | 30 816 | 28 244 | 52 900 | ||||
Plus, or minus latent gains due to fair value variations | |||||||
Purchase of own shares - IFRS 2 impact | 68 | 58 | |||||
Plus or minus net depreciation expense and provisions | 3 195 | 2 975 | 5 965 | ||||
Plus or minus depreciation allowance - IFRS 16 impacts | 755 | 632 | 1 303 | ||||
Plus financial charges - IFRS 16 impacts | 38 | 15 | 32 | ||||
Capital gains or losses from disposals | -38 | 29 | 14 | ||||
Cash flow from operations after net financial cost and taxes | 34 834 | 31 895 | 60 272 | ||||
Taxes | 10 343 | 10 746 | 20 082 | ||||
Cash flow from operations before net financial cost and taxes | 45 177 | 42 641 | 80 354 | ||||
Taxes paid | -10 764 | -11 025 | -20 262 | ||||
Cash flow from operations before net financial cost and after | 34 413 | 31 616 | 60 092 | ||||
taxes | |||||||
Change in operating working capital | -43 149 | - | 3 943 | - | 31 589 | ||
- Of which, trade receivables variation | -36 606 | - | 38 362 | - | 8 361 | ||
- Of which, stock variations | -13 096 | 2 710 | - | 51 677 | |||
- Of which, accounts payable variations | 3 937 | 21 202 | 22 021 | ||||
- Of which, other receivables variations | -2 243 | - | 3 233 | - | 2 406 | ||
- Of which, other debt variations | 4 859 | 13 740 | 8 834 | ||||
Net cash flow from operating activities | -8 736 | 27 673 | 28 503 | ||||
Net cash flow from operations of change in scope | |||||||
Disbursements related to acquisitions of tangible and intangible fixed | -5 289 | -6 018 | -12 221 | ||||
assets | |||||||
Proceeds from disposal and redemption of non-derivative financial | 6 | ||||||
assets | |||||||
Proceeds from disposal of property, plant and equipment | 44 | 75 | 91 | ||||
Owing to assets suppliers (variation) | -355 | -749 | 28 | ||||
Net cash flow from investments | -5 600 | - | 6 692 | - | 12 096 | ||
Free cash flow | -14 336 | 20 981 | 16 407 | ||||
Dividends paid to shareholders of the parent company | -18 396 | -16 743 | -16 743 | ||||
Loans subscriptions | |||||||
Increase in capital | |||||||
Flows on operations on treasury shares | 0 | -158 | - 158 | ||||
IFRS 16 financing flows | -812 | -602 | - 1 291 | ||||
Loan repayments | -6 648 | -6 649 | -13 157 | ||||
Net cash flow from financing activities | -25 856 | -24 152 | - 31 349 | ||||
Net cash flow variation | - 40 192 | - 3 171 | - 14 942 | ||||
Opening cash | 24 989 | 39 931 | 39 931 | ||||
Closing cash | - 15 203 | 36 760 | 24 989 | ||||
'Opening cash' and 'Closing cash' reflect the difference between a positive cash position and short-term loans. On June 30, 2022 the positive cash position was €3,546,000 and short-term bank loans €18,749,000.
29/07/2022 | 2022 Half-Yearly statements | Page 5 of 31 |
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Thermador Groupe SA published this content on 29 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2022 15:12:15 UTC.