ABO-Group Annual
Results for 2016
Ghent, 31 March 2017 - 18.00 CET -
Press release / regulated information
The ABO-Group, an engineering
office active in construction, environment and energy, announces
today its consolidated financial figures for 2016.
2016
highlights
-
Strong sales growth of
16.3%
-
Quadrupling of the operational
profit
-
Successful acquisition in the
Netherlands
Outlook for 2017
|
2015
in € 000 |
2016
in € 000 |
Change
in € 000 |
Change
in % |
Per share
In € |
Sales |
31,620 |
36,779 |
+5,159 |
+16.3% |
|
Total operating income |
33,143 |
37,820 |
+4,677 |
+14.1% |
|
Operational profit before depreciation |
2,036 |
3,587 |
+1,551 |
+76.2% |
0.34 |
Depreciation |
1,713 |
1,929 |
+216 |
+12.6% |
|
Operating profit |
323 |
1,658 |
+1,335 |
+413.3% |
0.16 |
Financial result[1] |
-160 |
-208 |
-48 |
-30.0% |
|
Pre-tax profit from ongoing operations |
163 |
1,449 |
+1,286 |
+789% |
|
Net profit |
148 |
792 |
+644 |
+435.1% |
0.07 |
Strong sales
growth of 16.3%
ABO-GROUP achieved a double-digit
sales growth in 2016, as a result of the economic recovery in the
Netherlands and Belgium, the success of new products and a major
acquisition. Total Group sales increased by 16.3%,
of which 5.4% was organic and 10.9% from acquisitions in the
Netherlands. Despite the fact that the market is still price
sensitive, volumes in general increased. The strongest growth was
recorded at Geosonda Belgium, with geotechnology in the
Netherlands, and at the E20 energy department. The consulting
operations in Belgium (ABO) also progressed significantly, in
particular through the expansion of the range of products aimed at
archaeology and BREEAM. The French market showed little drive.
The sales distribution for the 3
home markets is broken down as follows:
|
2015
in € 000 |
2016
in € 000 |
Change
in € 000 |
Change
in % |
% of
Sales |
France |
16,545 |
16,545 |
- |
- |
45% |
Belgium |
12,935 |
14,354 |
+1,419 |
+11.0% |
39% |
The Netherlands |
2,140 |
5,880 |
+3,740 |
+175% |
16% |
Sales |
31,620 |
36,779 |
+5,159 |
+16.3% |
100% |
Quadrupling of
the operational profit
The operational profit before
depreciation amounted to 3.6 million euro (0.34 euro/share), a leap
of 76%. The significant improvement is rooted in improved
operational performance in Belgium, where losses in the
international department were reduced, in conjunction with an
improved situation in the consulting business. The expansion of the
service range of the group is bearing fruit. The product range was
systematically expanded, ensuring that customers can address ABO
with an increasing number of demands. In addition to the price
advantage, the integrated approach above all provides the customer
with time savings with regard to the implementation of his project.
The evolution of the Dutch market was very favourable, through
higher income with a similar cost structure on the one hand, but
also by the acquisition and integration of Geomet/GBO on the other.
The contribution from France remained relatively stable, in terms
of both turnover and profitability.
Depreciation increased drastically
(+216k euro to 1.93 million euro, +12.6%), due to the acquisition
of Geomet/GBO on the one hand, and through the continuous
investment programme of the group to replace and expand the machine
park on the other. The available multi-purpose deployability and
flexibility in drilling technology provides the best possible
support for the qualitative implementation.
Other operating expenses decreased
significantly, as these were strongly affected by the creation of a
provision for a legal dispute in 2015. A tightening of the internal
rules on customer receivables resulted in a cost of 75k euro in
2016. A legal provision of 150k euro was also created. Despite the
negative impact of these non-recurring items, the operating profit
rose sharply from 323k euro to 1.66 million euro.
The financial result decreased,
mainly due to the inclusion of the financing expenses for Geomet.
With the acquisition, the group became the owner of a building in
Alphen aan den Rijn, including the related bank debt. The latter
has meanwhile been fully refinanced at more interesting
conditions.
Taxes increased considerably,
mainly due to the realisation in 2016 of tax assets that were built
up in the past, whereas the current taxes were kept in balance in
2015 by the recognition of additional tax assets.
Successful acquisition in the
Netherlands
In mid-June 2016, ABO-GROUP
announced a major strategic step with the acquisition of Geomet
(consultancy & monitoring). This considerably strengthened our
presence in the Dutch market, as well as the significance of
geotechnology within the group. The integration process progressed
favourably, and the positive impact of the operating and financial
synergies is already clearly noticeable. Our own geotechnical
department, Goorbergh Geotechniek in Breda, was immediately merged
with GBO, and they continue to operate together as Geosonda BV. In
the second half of the year, Geomet/Geosonda contributed 1.55
million euro to the turnover, an estimated 0.5 million euro to
REBITDA, and 470k euro to the net result (of which 388k euro in the
positive difference between the purchase value and the company
value).
The full set of
figures (consolidated profit and loss account, consolidated balance
sheet and cash flow statement) is included as an annex to this
press release.
Outlook for
2017
Well-filled order
book
The financial year 2017 has
started strongly. The order book remains well-filled, with orders
for both the current financial year and subsequent years. The Dutch
market continues to grow at a rapid pace. Growth in Belgium is
supported by the expansion of the product range and additional
marketing efforts. The French market seems to be picking up. The
multi-year contracts that were won for Grand Paris Express provide
increased confidence in the future.
Further organic
and acquisitive expansion
ABO-Group aims to further expand
its environmental and energy consultation, and its engineering and
testing activities both in its three home countries (Belgium, the
Netherlands, France), and in a number of specific growth markets
(Central and Southeast Asia, Africa and the former Eastern bloc
countries). The group is continuing its strategy and positioning as
a European player with international ambitions. The ABO-Group
focuses on internal organic growth, together with the recruitment
of experts in order to set up and develop new operations. An office
was opened in Vietnam with the aim of strengthening our local
presence in Southeast Asia,
Furthermore, the group also aims
to develop its acquisition strategy in the home countries. In 2016,
the ABO-Group became the full owner of Geomet, purchased a 55%
stake in GBO BV, and acquired an additional 10% stake in
Enviromania (Translab). The positive effect of the transactions
realised in recent years is exceedingly clear. The group aims to
continue this process, and will also seek to capitalise on several
opportunities in 2017. In early 2017, an additional 10% stake was
acquired in asbestos operations (Translab), which made the group
the majority shareholder. In addition, numerous dossiers are
emerging in the home countries, while geographical expansion within
Europe is being envisaged at the same time.
Significant
expansion of the machine park
In order to strengthen the product
range, the fieldwork departments invested in two machines with
cutting-edge technology. A fully-automated electrical CPT truck was
purchased for the Belgian geotechnical department. An investment in
a sonic drill was made for the Dutch environmental fieldwork. Both
investments represent an amount in excess of 1 million euro.
Overview of 2016 and outlook for
2017 per segment
France
In 2016, ABO-ERG, with headquarters in Toulon, won several major
orders, including the "Le Grand Paris" project. ABO-ERG will carry
out studies and geotechnical investigations for the planned metro
lines to Roissy in the period 2017-2020, and is also responsible
for the examination of the foundations of the existing
eastern metro lines in the Paris region. A project for the SNCF in
the Île-de-France region was also won.
ABO-ERG enjoys a strong reputation
as a geotechnical specialist in complex civil engineering projects.
For specific assignments, for example, techniques associated with
mountaineering are used for locations that cannot be reached by
traditional methods.
ABO-ERG creates added value in the
area of environmental consultancy by offering a wide range of
soil-related services. At the end of 2016, a major contract was won
in connection with environmental monitoring for Rio Tinto, and for
carrying out geotechnical studies relating to former mine sites and
landfills. This project is a typical example of how geotechnical
and environmental consultancy can be combined.
In order to ensure the provision
of high-quality services, ABO-ERG invests annually in its
geotechnical and soil mechanics laboratory. Investments in safety
and technical training thereby lead to an improvement in the
quality and speed of the testing, which, in turn, meets the
increasingly stringent requirements of projects such as "Le Grand
Paris" and SNCF. In line with the expansion of the implemented
geotechnical and environmental studies, the production capacity of
certain tests was also doubled.
ABO-ERG is furthermore heavily
involved in several research projects that should lead to technical
and commercial benefits in the short term. As an example, ABO-ERG
is coordinating the MATRIX project, which aims for a combination of
field testing and sampling through technical data analysis. This
enables large amounts of data to be quickly converted into
real-time monitoring and 3D pollution imaging, and the number of
CPT tests to be carried out can be optimised.
Belgium
As a consultancy and engineering
office, ABO NV is focusing on the provision of
comprehensive advice for all kinds of construction and
redevelopment projects. ABO NV operates in the Belgian market, with
offices in Flanders, Brussels and Wallonia, and focuses on soil
investigation and soil remediation, geotechnology, all kinds of
environmental studies, and archaeological and historical building
research, as well as on comprehensive advice with regard to
sustainable redevelopment and spatial planning. The services that
ABO provides range from project description (advice in support of
policies, strategic notes), the (pre-)feasibility phase
(techno-economic studies, positioning studies, environmental impact
studies, risk analyses, tendering assistance, etc.), the design
phase (detail engineering, preparation of specifications, social
and environmental impact studies, licences, etc.), up to the
guidance and monitoring of the implementation of projects. In order
to successfully realise projects, ABO can rely every day on a
multidisciplinary team of 90 specialists in different disciplines.
For 2017, ABO is expecting continued strong growth in archaeology
and BREEAM, sustainable construction consultancy and geotechnology.
In addition, ABO is also strongly homing in on further
diversification, such as asbestos studies in collaboration with
Translab (in view of the asbestos reduction policy).
The international activities of
ABO-Group were further streamlined in 2016. In a rapidly changing
world in which consultancy and project management are becoming
increasingly interwoven, international prospecting activities were
optimised for certain regions. A budding environmental market
is emerging in Vietnam in response to the rapid evolution of
environmental regulations due to the industrial development and the
expansion of port areas. The decision was therefore made to
establish a subsidiary in Hanoi, which has already resulted in a
number of concrete assignments. ECOREM also
participated in sustainable development projects in 2016, in which
People-Planet-Profit take centre stage. In
this connection, experts were brought in to provide technical
assistance and consultancy for the UNDP and the World Bank in
Bangladesh and the Maldives, and a strategic study was launched in
Mauritius with funding from the French Development Agency AFD.
ECOREM also contributed to projects of a pronounced humanitarian
nature. The largest famine in Africa since World War II is largely
related to an acute shortage of drinking water. Together with
international and local organisations, a project was launched in
Burkina-Faso to fill some of the local needs for the next three
years. Last but not least, ECOREM also remained active as an
environment consultant in the home markets in Western Europe,
mainly in strategic projects such as coastal protection work in the
North Sea and the energy storage in reservoirs in Wallonia.
Knowledge, innovation and quality are and will remain the key
concepts in the international development of the activities of the
ABO-Group. A renewal of the existing internal quality system,
adapted to the international consultancy activities of ECOREM, was
approved early in 2017 (ISO 9001-2015).
2016 represented a year of
investment in growth for Energy To Zero (E20).
E20 aims to further increase its market share by offering existing
services in new markets, as well as by expanding the current
service provision in existing markets. Revenue growth is ensured
through the obtaining of two major contracts for an energy company
(energy audits and scans), an additional contract for VLAIO, and
the recruitment of new companies for the ongoing energy coaching
contract for a Flemish city. 2016 also paved the way for the
roll-out of a new network in which companies are brought together
in order to reduce their energy consumption in Belgium; the focus
was on improving the energy efficiency of companies in the Ghent
region. Furthermore, investments in R&D and external research
projects will enable the development of additional activities and
the build-up of long-term cooperation with customers.
Within GEOSONDA, the environmental and geotechnical specialist
in soil exploration, the three major investigation techniques (soil
drilling, CPT testing and the digging of test trenches) are carried
out within the environment, geotechnology and archaeology domains.
Partly because of these special exploration techniques and the
various R&D projects, a service package can be offered that is
virtually unique in the Benelux. For 2017, Geosonda is again
expecting a significant growth in sales, in particular as a result
of investment in a new state-of-the-art soil-sampling machine. This
not only significantly increases the capacity for the customers,
but also further expands the range of safe and rapid CPT testing
using the optocone wireless measurement system in combination with
the automatic rod screw. In addition, strong emphasis is also
placed on the use of complex drilling techniques, including core
drilling for the exploration of rocky soils, and chemical
injections for the remediation of polluted soils.
The Netherlands
Activities in the Netherlands had
a strong tailwind in 2016, supported by the recovering market for
residential real estate. All operational companies experienced a
significant growth. From the summer onwards, the integration of
Geomet/Geosonda received the attention it
required, and additional staff was recruited in order to meet the
demand. Geomet highlights its expertise with strong projects in
utility construction, the construction of apartment buildings and
houses, and foundation inspections. In addition to more general
projects, Geomet has also made a name for itself in the handling of
complex geotechnical issues, such as quay walls and high-rise
buildings in dense urban areas.
The in-depth technical knowledge
combined with direct contacts between the engineer and the client
creates a strong customer relationship with added value.
Significant organic sales growth is again expected for 2017, and,
consequently, the Dutch group companies will be looking to recruit
staff to broaden their activities.
Financial
calendar
31/05/2017: General Shareholders'
Meeting
30/09/2017: Figures for the first half of 2017
Statement of the
statutory auditor
The auditor of ABO-Group
Environment NV, EY Bedrijfsrevisoren BCVBA, represented by Marnix
Van Dooren, has confirmed that his audit review, which was
thoroughly completed, has not revealed any significant corrections
that would require an adjustment to the 2016 consolidated figures
for the Group, which are included in this press release.
About the
ABO-Group
The ABO-Group is a listed company
specialising in consultancy, testing & engineering, and
focussing specifically on construction, environment and energy. The
ABO-Group operates in its three home markets (Belgium, the
Netherlands and France), as well as in the international market,
and guarantees a sustainable solution to its customers. For a more
detailed description of the activities of the group, reference is
made to the ABO-Group website (www.abo-group.eu).
For more information:
Frank De
Palmenaer
Johan
Reybroeck
CEO ABO-Group Environment
NV
CFO ABO-Group Environment NV
frank.depalmenaer@abo-group.eu
johan.reybroeck@abo-group.eu
T +32 (0)9 242 88 22
Derbystraat 255, Maaltecenter Blok G, B-9051 Ghent
(SDW), Belgium
This press release is available on our website
www.abo-group.eu
ANNEX: CONSOLIDATED FINANCIAL FIGURES
Consolidated profit and loss
account
|
|
|
|
For the year ending on 31
December |
|
|
|
|
|
|
|
2016 |
|
2015 |
|
+/- |
+/-% |
|
|
|
|
In thousands
of € |
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales |
|
|
|
36,779 |
|
31,620 |
|
5,159 |
16.3% |
Other
operating income |
|
|
|
1,041 |
|
1,523 |
|
-482 |
-31.6% |
Total operating income |
|
|
|
37,820 |
|
33,143 |
|
4,677 |
14.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases |
|
|
|
-4,205 |
|
-3,634 |
|
-571 |
15.7% |
Services and miscellaneous goods |
|
|
|
-12,278 |
|
-10,601 |
|
-1,677 |
15.8% |
Employee remunerations |
|
|
|
-16,966 |
|
-15,710 |
|
-1,256 |
8.0% |
Depreciation |
|
|
|
-1,929 |
|
-1,713 |
|
-216 |
12.6% |
Other
operating expenses |
|
|
|
-784 |
|
-1,162 |
|
378 |
-32.5% |
Operating profit |
|
|
|
1,658 |
|
323 |
|
1,335 |
413.3% |
|
|
|
|
|
|
|
|
|
|
Financial charges |
|
|
|
-365 |
|
-312 |
|
-53 |
17.0% |
Financial income |
|
|
|
100 |
|
61 |
|
39 |
63.9% |
Share in the profit of associated companies |
|
56 |
|
91 |
|
-35 |
-38.5% |
Pre-tax profit from continuing
operations |
|
1,449 |
|
163 |
|
1,286 |
789.0% |
|
|
|
|
|
|
|
|
|
|
Tax |
|
|
|
-652 |
|
-1 |
|
-651 |
65100.0% |
Net profit from continuing operations |
|
|
|
797 |
|
162 |
|
635 |
392.0% |
|
|
|
|
|
|
|
|
|
|
Profit from discontinued operations, after tax |
|
-5 |
|
-14 |
|
9 |
-64.3% |
Net profit |
|
|
|
792 |
|
148 |
|
644 |
435.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
profit (loss) attributable to the |
|
|
|
|
|
|
|
|
|
shareholders of the parent company |
|
|
|
872 |
|
149 |
|
723 |
|
Minority interests |
|
|
|
-80 |
|
-1 |
|
-79 |
|
|
For the year
ending on 31 December |
|
2016 |
|
2015 |
|
|
|
|
Profit (loss) per share for the
shareholders |
|
|
|
Basic
and diluted |
€ 0.08 |
|
€ 0.01 |
Profit (loss) per share (continuing
operations) |
|
|
|
Basic
and diluted |
€ 0.08 |
|
€ 0.02 |
Profit (loss) per share (discontinued
operations) |
|
|
|
Basic
and diluted |
€ -0.00 |
|
€ -0.00 |
|
|
|
|
Weighted average shares (basic earnings per share)(in .000) |
10,569 |
|
10,569 |
Weighted average shares with impact from dilution (in .000) |
10,569 |
|
10,569 |
Consolidated overview of the full period
result |
|
For the year
ending on 31 December |
|
|
|
|
2016 |
|
2015 |
|
|
|
|
In thousands
of € |
Net profit |
|
|
|
792 |
|
148 |
|
|
|
|
|
|
|
Unrealised results |
|
|
|
|
|
|
Transferable to the profit and loss
account |
|
|
|
|
|
|
Revaluation of buildings |
|
|
|
0 |
|
183 |
Tax impact |
|
|
|
0 |
|
-62 |
Change
in fair value of financial assets available for sale |
|
|
|
0 |
|
40 |
Tax impact |
|
|
|
0 |
|
0 |
Non-transferable to the profit and loss
account |
|
|
|
|
|
|
Actuarial profits (losses) |
|
|
|
-113 |
|
11 |
Tax impact |
|
|
|
40 |
|
-4 |
|
|
|
|
|
|
|
Unrealised results, after tax |
|
|
|
-73 |
|
168 |
|
|
|
|
|
|
|
Total result, after tax |
|
|
|
719 |
|
316 |
|
|
|
|
|
|
|
Total
result, attributable to the |
|
|
|
|
|
|
shareholders of the parent company |
|
|
|
685 |
|
316 |
Minority interests |
|
|
|
34 |
|
0 |
Consolidated balance
sheet
|
|
|
|
|
For the year ending on 31
December |
|
|
|
|
|
|
2016 |
|
2015 |
|
|
|
|
|
|
In thousands
of € |
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
Goodwill |
|
|
|
154 |
|
154 |
|
|
Intangible fixed assets |
|
|
|
1,014 |
|
322 |
|
|
Tangible fixed assets |
|
|
|
12,970 |
|
10,759 |
|
|
Investments in associated companies |
|
|
|
152 |
|
84 |
|
|
Deferred tax assets |
|
|
|
1,849 |
|
2,000 |
|
|
Financial assets available for sale |
|
|
|
96 |
|
175 |
|
|
Other
financial assets |
|
|
|
402 |
|
336 |
|
|
|
|
|
|
16,637 |
|
13,830 |
|
|
|
|
|
|
|
|
|
|
|
Short-term assets |
|
|
|
|
|
|
|
|
Stocks |
|
|
|
469 |
|
418 |
|
|
Trade
receivables |
|
|
|
14,157 |
|
12,053 |
|
|
Other
short-term assets |
|
|
|
1,911 |
|
2,571 |
|
|
Cash
and cash equivalents |
|
|
|
2,934 |
|
2,405 |
|
|
|
|
|
|
19,471 |
|
17,447 |
|
|
|
|
|
|
|
|
|
|
|
Assets
held for sale |
|
|
|
1,225 |
|
1,259 |
|
|
|
|
|
|
|
|
|
|
Total assets |
|
|
|
37,333 |
|
32,536 |
|
|
|
|
|
|
For the year ending on 31
December |
|
|
|
|
|
|
2016 |
|
2015 |
|
|
|
|
|
|
In thousands of € |
|
Shareholders' equity and
payables |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net shareholders' equity |
|
|
|
|
|
|
|
|
Capital |
|
|
|
4,857 |
|
4,857 |
|
|
|
Consolidated reserves |
|
|
|
4,958 |
|
4,032 |
|
|
|
Unrealised results |
|
|
|
1,516 |
|
1,676 |
|
|
|
Equity attributable to the shareholders of the
group |
|
|
|
11,331 |
|
10,565 |
|
|
|
Minority interests |
|
|
|
979 |
|
551 |
|
|
|
Total equity |
|
|
|
12,310 |
|
11,116 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term liabilities |
|
|
|
|
|
|
|
|
|
Financial debts |
|
|
|
3,401 |
|
1,675 |
|
|
|
Deferred tax liabilities |
|
|
|
1,294 |
|
1,262 |
|
|
|
Provisions |
|
|
|
803 |
|
1,108 |
|
|
|
|
|
|
|
5,498 |
|
4,045 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
|
Financial debts |
|
|
|
5,104 |
|
4,956 |
|
|
|
Trade
payables |
|
|
|
6,065 |
|
4,412 |
|
|
|
Tax
liabilities |
|
|
|
130 |
|
143 |
|
|
|
Other
short-term debts |
|
|
|
6,930 |
|
6,568 |
|
|
|
|
|
|
|
18,229 |
|
16,079 |
|
|
|
Payables related to assets held for sale |
|
|
|
1,296 |
|
1,296 |
|
|
|
|
|
|
|
|
|
|
|
|
Total shareholders' equity and
payables |
|
|
|
37,333 |
|
32,536 |
|
|
Consolidated cash flow
statement
|
|
|
|
For the year
ending on 31 December |
|
|
|
|
|
2016 |
|
2015 |
|
|
|
|
|
In thousands
of € |
|
Operating activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net profit |
|
|
792 |
|
148 |
|
|
|
|
|
|
|
|
|
Non-cash costs and operating
adjustments |
|
|
|
|
|
|
|
Depreciation of tangible fixed assets |
|
|
1,816 |
|
1,678 |
|
|
Depreciation of intangible fixed assets |
|
|
113 |
|
59 |
|
|
Surplus on the revaluation of existing
interest
following acquisition |
|
|
0 |
|
-361 |
|
|
Profit on the sale of tangible fixed
assets |
|
|
-57 |
|
-187 |
|
|
Added value on the sale of financial fixed
assets |
|
|
-54 |
|
0 |
|
|
Movements in provisions |
|
|
-246 |
|
471 |
|
|
Movements in impairments on customers |
|
|
343 |
|
26 |
|
|
Financial income |
|
|
-84 |
|
-61 |
|
|
Financial charges |
|
|
365 |
|
314 |
|
|
Badwill for company combinations |
|
|
-387 |
|
0 |
|
|
Share in the profit of associated
companies |
|
|
-56 |
|
-91 |
|
|
Deferred tax income |
|
|
205 |
|
-301 |
|
|
Tax costs |
|
|
446 |
|
302 |
|
|
Other |
|
|
0 |
|
0 |
|
|
|
|
|
|
|
|
|
Changes to the working capital |
|
|
|
|
|
|
|
Decrease (increase) in other financial assets, trade receivables
and other short-term assets |
|
|
-488 |
|
363 |
|
|
Decrease (increase) in stocks |
|
|
174 |
|
-37 |
|
|
Increase (decrease) in trade payables and other debts |
|
|
232 |
|
-11 |
|
|
|
|
|
3,114 |
|
2,312 |
|
|
Interest received |
|
|
27 |
|
39 |
|
|
Tax
paid |
|
|
-544 |
|
-258 |
|
|
|
|
|
|
|
|
|
Net cash flow from operating
activities |
|
2,597 |
|
2,093 |
|
|
Investment activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in tangible fixed assets |
|
|
-1,363 |
|
-1,054 |
|
|
Investments in intangible fixed assets |
|
|
-80 |
|
-10 |
|
|
Sales
of tangible fixed assets |
|
|
132 |
|
356 |
|
|
Acquisition of minority interest |
|
|
0 |
|
-175 |
|
|
Acquisition of subsidiary |
|
|
-315 |
|
-196 |
|
|
Sale
to minority interest |
|
|
0 |
|
1 |
|
|
Loan
to associated company |
|
|
-50 |
|
-70 |
|
|
Investments in associated companies |
|
|
-12 |
|
0 |
|
|
Sale
of assets held for sale |
|
|
116 |
|
0 |
|
|
|
|
|
|
|
|
|
Net cash flow from (used in) investment
activities |
|
|
-1,572 |
|
-1,148 |
|
|
|
|
|
|
|
|
|
Financing activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income
from loans |
|
|
3,763 |
|
1,878 |
|
|
Repayment of loans |
|
|
-3,280 |
|
-2,806 |
|
|
Repayment of leasing debts |
|
|
-722 |
|
-670 |
|
|
Interest paid |
|
|
-199 |
|
-163 |
|
|
Other
financial income (costs) |
|
|
-92 |
|
-118 |
|
|
|
|
|
|
|
|
|
Net cash flow from financing
activities |
|
|
-530 |
|
-1,879 |
|
|
|
|
|
|
|
|
|
Net increase in cash and cash
equivalents |
|
|
495 |
|
-934 |
|
|
Cash and cash equivalents at the beginning of the
year |
|
2,499 |
|
3,433 |
|
|
Cash and cash equivalents at the end of the year |
|
2,994 |
|
2,499 |
|
|
|
|
|
|
|
|
|
Other non-cash transactions |
|
|
|
|
|
|
|
Financial leasing |
|
|
-1,015 |
|
-471 |
|
|
Cash
assets held for sale |
|
|
60 |
|
94 |
|
Consolidated statement of changes
in equity
|
|
Attributable to the
shareholders
of the group |
|
|
|
|
|
|
Capital |
|
Consolidated reserves |
|
Unrealised results |
|
Total |
|
Minority interest |
|
Total equity |
|
|
In thousands of € |
|
|
|
|
|
|
|
|
|
|
|
|
|
On 31 December 2014 |
4,857 |
|
3,773 |
|
1,694 |
|
10,324 |
|
107 |
|
10,431 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net profit |
|
|
149 |
|
|
|
149 |
|
-1 |
|
148 |
Unrealised results |
|
|
|
|
167 |
|
167 |
|
1 |
|
168 |
Total results |
0 |
|
149 |
|
167 |
|
316 |
|
0 |
|
316 |
|
|
|
|
|
|
|
|
|
|
|
|
|
25% sale of Ecorem |
0 |
|
93 |
|
-100 |
|
-7 |
|
8 |
|
1 |
Purchase of minority interest in E20 |
0 |
|
-68 |
|
0 |
|
-68 |
|
-107 |
|
-175 |
Acquisition Sialtech (minority interest) |
0 |
|
0 |
|
0 |
|
0 |
|
543 |
|
543 |
Transfer of depreciation of tangible fixed assets |
0 |
|
85 |
|
-85 |
|
0 |
|
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
On 31 December 2015 |
4,857 |
|
4,032 |
|
1,676 |
|
10,565 |
|
551 |
|
11,116 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net profit |
|
|
872 |
|
|
|
872 |
|
-79 |
|
793 |
Unrealised results |
|
|
|
|
-73 |
|
-73 |
|
|
|
-73 |
Total results |
0 |
|
872 |
|
-73 |
|
799 |
|
-79 |
|
720 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquisition Geosonda BV (minority interest) |
0 |
|
|
|
|
|
0 |
|
474 |
|
474 |
Transfer of depreciation of tangible fixed assets |
0 |
|
87 |
|
-87 |
|
0 |
|
|
|
0 |
GGT Minority interest |
0 |
|
-33 |
|
|
|
-33 |
|
33 |
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
On 31 December 2016 |
4,857 |
|
4,878 |
|
1,516 |
|
11,251 |
|
979 |
|
12,310 |
[1] Including
the share in the profit of associated companies
Annual Results 2016 ABO-Group
Environment NV
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: ABO-Group via Globenewswire
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