ERG to hold fourth quarter and full year 2013 results
The conference call is scheduled for 15.00 Italian time (14.00 UK time) on Wednesday, March 12, 2014.
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ERG to hold fourth quarter and full year 2013 results
The conference call is scheduled for 15.00 Italian time (14.00 UK time) on Wednesday, March 12, 2014.
(Eur thousand) | ERG Renew S.p.A. 31/12/2013 | Group ERG Renew 31/12/2013 |
---|---|---|
Tangible fixed assets | 1.675 | 1.128.492 |
Intangible fixed assets | 1.806 | 466.190 |
Equity investments in subsidiaries and associates | 279.720 | 8.165 |
Financial receivables from subsidiaries | 74.782 | - |
Other equity investments | - | - |
Financial assets | 7.186 | 108.289 |
Receivables for derivative financial instruments | - | 322 |
Other receivables | 3.373 | 27.170 |
Tax assets | 1.256 | 28.906 |
Deferred tax assets | 6.202 | 100.382 |
Non-current assets | 376.001 | 1.867.916 |
Inventories | - | 8.003 |
Trade receivables from third parties | 8.215 | 220.611 |
Trade receivables from parent companies, subsidiaries and associates | 13.372 | - |
Financial receivables from subsidiaries | 244.975 | - |
Other financial receivables | - | - |
Other receivables | 14.139 | 53.579 |
Tax assets | 387 | 8.654 |
Equity investments available for sale | - | - |
Cash and cash equivalents | 3.046 | 74.125 |
Current assets | 284.134 | 364.972 |
TOTAL ASSETS | 660.135 | 2.232.888 |
Group shareholders' equity | - | 588.743 |
Minority interests | - | - |
Shareholders' equity | 562.084 | - |
562.084 | 588.743 | |
Employees' severance indemnities | 380 | 2.048 |
Provisions for liabilities and charges | 9.558 | 28.814 |
No-current portion of financial payables | - | 1.062.610 |
Non-current portion of financial payables to parent companies | - | - |
Payables for derivative financial instruments | - | 131.280 |
Other payables | 397 | 38.776 |
Deferred tax liabilities | - | 164.085 |
Non-current liabilities | 10.335 | 1.427.613 |
Current portion of financial payables | 76.690 | 170.889 |
Payables for derivative financial instruments | 1.844 | 1.844 |
Trade payables | 3.988 | 18.168 |
Other payables | 5.074 | 18.127 |
Tax liabilities | 120 | 7.504 |
Current liabilities | 87.716 | 216.532 |
TOTAL LIABILITIES AND EQUITY | 660.135 | 2.232.888 |
(Eur thousand) | ERG Renew S.p.A. 31/12/2013 | Group ERG Renew 31/12/2013 |
---|---|---|
Revenues from sales and services | 13.313 | 327.335 |
Other revenues and income | 699 | 4.998 |
Value of production | 14.011 | 332.333 |
Purchases of raw materials, consumables and goods | (7.741) | (3.270) |
Change in inventories | - | (793) |
Service costs | (9.945) | (72.350) |
Personnel costs | (4.392) | (10. |
Other operating expenses | (3.691) | (17.379) |
Amortisation and depreciation | (763) | (114.629) |
Write-downs and provisions | - | (4.345) |
Cost of production | (26.531) | (223.372) |
EBIT | (12.520) | (108.961) |
Net financial income and expenses | (59) | (59.641) |
Financial income (expenses) from subsidiaries and parent companies | 6.589 | - |
Income (expenses) from equity investments | 47.615 | (971) |
Profit before taxes | 41.626 | 48.349 |
Current, deferred and prepaid income taxes | 3.614 | (28.740) |
Profit (loss) from continuing operations | 45.240 | 19.609 |
Net profit (loss) from discontinued operations | - | 11 |
Net profit (loss) for the period | 45.240 | 19.620 |
Minority interests | - | - |
Group profit (loss) | 45.240 | 19.620 |
(Eur thousand) | ISAB Energy S.r.l. 31/12/2013 | ISAB Energy Services S.r.l. 31/12/2013 | ERG Oil Sicilia S.r.l. 31/12/2013 | |
---|---|---|---|---|
Assets | ||||
A) | Receivables from shareholders | - | - | - |
B) | Fixed assets | |||
Intangible | 8.694 | - | 1.462 | |
Tangible | 454.131 | - | 20.047 | |
Financial | 5 | - | - | |
462.831 | - | 21.509 | ||
C) | Current assets | |||
Inventories | 13.667 | - | 1.474 | |
Receivables | 203.769 | 32.862 | 35.436 | |
Financial assets | - | - | - | |
Cash and cash equivalents | 86.835 | 4 | 9.415 | |
304.271 | 32.866 | 46.325 | ||
D) | Accrued income and prepaid expenses | 4.412 | 17 | 451 |
TOTAL ASSETS | 771.514 | 32.882 | 68.286 | |
Liabilities and equity | ||||
A) | Shareholder's equity | |||
Share capital | 5.165 | 700 | 6.310 | |
Paid-in-capital in excess of par | - | - | - | |
Revalutation reserve | - | 37 | 18.000 | |
Legal reserve | 1.033 | 140 | 1.262 | |
Consolidation reserve | - | - | - | |
Other reserves | 28.709 | 2 | 6.164 | |
Retained earnings / (accumulated losses) | 435.059 | - | - | |
Net profit (loss) for the year | 58.371 | 7.695 | (3.072) | |
528.337 | 8.574 | 28.664 | ||
Minority interests | ||||
Share capital | - | - | - | |
Net profit (loss) for the year | - | - | - | |
- | - | - | ||
B) | Provisions for liabilities and charges | |||
Taxes | 32.128 | - | 1.690 | |
Others | 12.741 | - | 475 | |
44.869 | - | 2.165 | ||
C) | Employees' severance indemnities | - | 1.937 | 142 |
D) | Payables | |||
Payables due to shareholders for loans | 56.250 | - | - | |
Banks / other lenders | - | 370 | - | |
Advances | - | - | - | |
Suppliers | 56.984 | 3.108 | 32.141 | |
Subsudiaries/associates/parent companies/affiliates | 82.330 | 10.045 | 3.501 | |
Tax payables | 2.524 | 482 | 29 | |
Social security payables | - | 1.694 | 52 | |
Other payables | 156 | 6.674 | 1.333 | |
198.244 | 22.371 | 37.055 | ||
E) | Accrued liabilities and deferred income | 64 | - | 259 |
TOTAL LIABILITIES AND EQUITY | 771.514 | 32.882 | 68.286 |
(Eur thousand) | ISAB Energy S.r.l. 31/12/2013 | ISAB Energy Services S.r.l. 31/12/2013 | ERG Oil Sicilia S.r.l. 31/12/2013 | |
---|---|---|---|---|
A) | Value of production | |||
Revenues from sales and services | 549.073 | 43.452 | 368.284 | |
Inventory changes | 151 | - | (1) | |
Own work capitalised | 693 | - | - | |
Other revenues and income | 20.583 | 3.743 | 309 | |
570.500 | 47.195 | 368.593 | ||
B) | Production cost | |||
Purchases | (313.702) | (197) | (349.551) | |
Services | (66.971) | (11.248) | (12.316) | |
Leases and rentals | (529) | (826) | (4.407) | |
Personnel | - | (22.845) | (1.099) | |
Amortisation, depreciation and write-downs | (52.461) | - | (4.417) | |
Inventory changes | (1.391) | - | - | |
Provisions | (3.106) | - | - | |
Other operating expenses | (26.494) | (157) | (1.219) | |
(461.873) | (35.273) | (373.007) | ||
Difference between production value and costs | 108.629 | 11.922 | (4.414) | |
C) | Financial income and expenses | |||
Income from equity investments | - | - | - | |
Other financial income | 42 | 350 | ||
Interest and other financial expenses | (3.036) | (3) | (168) | |
Foreign exchange gains and losses | (45) | 2 | - | |
(3.039) | - | 183 | ||
D) | Value adjustments to financial assetes | |||
Revalutations | - | - | - | |
Write-downs | - | - | - | |
- | - | - | ||
E) | Extraordinary income and expenses | |||
Extraordinary income | - | - | (645) | |
Extraordinary expenses | (10) | 241 | - | |
10 | 241 | (645) | ||
Profit before taxes | 105.600 | 12.163 | (4.876) | |
Income taxes for the year | (47.229) | (4.467) | (1.804) | |
Profit (loss) before minirity interest | (47.229) | (4.467) | (3.072) | |
Minority interest | - | - | - | |
Net profit (loss) for the year | 58.371 | 7.695 | (3.072) |
(Eur thousand) | TotalErg Group 31/12/2013 | TotalErg | |
---|---|---|---|
Assets | |||
A) | Receivables from shareholders | - | - |
B) | Fixed assets | ||
Intangible | 44.202 | 33.675 | |
Tangible | 516.951 | 429.950 | |
Financial | 89.102 | 103.916 | |
650.255 | 567.541 | ||
C) | Current assets | ||
Inventories | 392.392 | 362.851 | |
Receivables | 821.652 | 786.301 | |
Financial assets | - | - | |
Cash and cash equivalents | 98.2664 | 74.627 | |
D) | Accrued income and prepayments | 39.171 | 36.286 |
TOTAL ASSETES | 2.001.734 | 1.827.606 | |
Liabilities and equity | |||
A) | Shareholder's equity | ||
Share capital | 47.665 | 47.665 | |
Paid-in-capital in excess of par | - | - | |
Revalutations reserve | 133.726 | 133.726 | |
legal reserve | 9.533 | 9.533 | |
Consolidation reserve | 58.661 | - | |
Other reserves | 172.469 | 172.467 | |
Retained earnings / (accumulated losses) | 5.273 | 35.199 | |
Net profit (loss) for the year | (48.630) | (69.593) | |
378.697 | 328.996 | ||
Minority interests | - | ||
Share capital | 9.582 | - | |
Net profit (loss) for the year | 1.287 | - | |
389.566 | - | ||
B) | Provisions for liabilitis and charges | ||
Taxes | 42.545 | 40.565 | |
Other | 122.748 | 101.744 | |
165.293 | 142.310 | ||
C) | Employees' severance indemnities | 10.667 | 7.213 |
D) | Payables | ||
Payables to shareholders for loans | - | - | |
Banks / other lenders | 362.234 | 338.891 | |
Advances | 1.390 | 194 | |
Suppliers | 694.355 | 616.455 | |
Subsidiaries /associates /parents companies/ affiliates | 80.181 | 108.835 | |
Tax payables | 219.355 | 215.657 | |
Social security payables | 3.651 | 1.810 | |
Other payables | 59.879 | 57.141 | |
1.421.045 | 1.338.983 | ||
E) | Accrued liabilities and deferred income | 15.163 | 10.104 |
TOTAL LIABILITES AND DEFERRED INCOME |
(Eur thousand) | TotalErg Group 31/12/2013 | TotalErg S.p.A. 31/12/2013 | |
---|---|---|---|
A) | Production value | ||
Revenues from sales and services | 10.338.834 | 10.017.231 | |
Inventory changes | 21.109 | 23.978 | |
Own work capitalised | 2.846 | - | |
Other revenues and income | 59.758 | 47.562 | |
10.422.547 | 10.088.771 | ||
B) | Production cost | ||
Purchaes | (9.685.942) | (9.447.215) | |
Services | (363.107) | (338.838) | |
Leases and rentals | (123.617) | (121.977) | |
Personnel | (81.478) | (53.200) | |
Amortisation, depreciation and write-downs | (105.114) | (79.902) | |
Inventory changes | (44.196) | (50.973) | |
Provisions | (27.122) | (27.002) | |
Other operatings expenses | (17.978) | (14.056) | |
(10.448.554) | (10.133.163) | ||
Difference between production value and costs | (26.007) | (44.392) | |
C) | Financial icome and expenses | ||
Income from equity investments | 154 | 1.750 | |
Other financial income | 753 | 3.210 | |
Interest and other financial expenses | (22.957) | (22.737) | |
Foreign exchange and losses | (1.015) | (1.012) | |
(23.065) | (18.789) | ||
D) | Value adjustments to financial assets | ||
Revalutations | 3.259 | 478 | |
Write-downs | (301) | - | |
2.958 | 478 | ||
E) | Extraordinary income and expendes | ||
Extraordinary income | 24.808 | 4.602 | |
Extraordinay expenses | (46.950) | (45.081) | |
(22.142) | (40.479) | ||
Profit before taxes | (68.256) | (103.182) | |
Income taxes for the year | 20.913 | 33.590 | |
Profit (loss) before minority interests | (47.343) | (69.593) | |
Minority interest | 1.287 | - | |
Net profit (loss) for the year | (48.630) | (69.593) |
ERG S.p.A. - Genova
Paolo Merli
Head of Corporate Finance & Investor Relations
0039 010 2401376