Societe Financiere des Caoutchoucs Societe Anonyme : Interim financial report (30.06)

INTERIM FINANCIAL REPORT

HALF YEAR ENDED 30 JUNE 2019

GROUPE SOCFIN • SOCFIN

4, Avenue Guillaume • 1650 Luxembourg • Luxembourg • T : + 352 44 28 77 • E: [e-mail] • www.socfin.comRC Luxembourg B 5937

Disclaimer:

The English version is a translation of the original in French for information purposes only. In case of any misunderstanding or discrepancy, the French original will prevail.

For the purpose intended of the reader of this Interim Financial Report, only the financial statements and the accompanying notes have been translated from its original French version.

Socfin - Interim Financial Report - Half year ended 30 June 2019 - 2

Consolidated income statement

For the period from 1 January to 30 June

(Unaudited)

	Note	30/06/2019	30/06/2018
			EUR	EUR
			(6 months)	(6 months)
Revenue			277,829,923	270,976,112
Other work performed by entity and capitalized			8,504,747	20,278,491
Changes in inventories of finished goods and work in progress			32,888,443	23,364,117
Other operating income			6,242,820	4,606,247
Raw materials and consumables used			-112,650,046	-100,303,687
Other external charges			-52,033,994	-54,452,440
Labor costs			-61,345,682	-59,838,366
Depreciation, amortization and impairment	10		-30,635,513	-25,950,269
Other operating costs			-17,966,913	-24,973,933
Operating profit			50,833,785	53,706,272
Other financial income	11		2,817,249	5,253,374
Gain on disposal of assets			42,306	40,413
Loss on disposal of assets			-807,232	-634,463
Other financial expenses	12		-8,310,912	-8,673,492
Profit before tax			44,575,196	49,692,104
Income tax expense			-24,808,879	-20,654,190
Deferred tax expense			-2,827,866	-1,450,770
Profit for the period			16,938,451	27,587,144
Profit attributable to non-controlling interests			13,377,437	19,378,484
Profit attributable to owners of the Parent			3,561,014	8,208,660
Basic earnings per share			0.25	0.58
Number of Socfin shares			14,159,720	14,159,720
Basic earnings per share			0.25	0.58
Diluted earnings per share			0.25	0.58

The accompanying notes form an integral part of these consolidated financial statements

Socfin - Interim Financial Report - Half year ended 30 June 2019 - 3

Consolidated statement of other comprehensive income

For the period from 1 January to 30 June

(Unaudited)

Profit for the period

Other comprehensive income

Fair value changes of financial assets measured at fair value through other comprehensive income, before tax

Income tax relating to fair value changes of financial assets measured at fair value through other comprehensive income

Sub-total of items that cannot be reclassified to profit or loss

Fair value changes of financial instruments of subsidiaries, before tax

Income tax relating to fair value changes of financial assets of subsidiaries

Gains (losses) on exchange differences on translation of subsidiaries

Sub-total of items that can be reclassified to profit or loss

Total other comprehensive income/(loss)

Total comprehensive income/(loss)

Comprehensive income attributable to non-controlling interests

Comprehensive income attributable to owners of the Parent

30/06/2019 30/06/2018

EUR EUR

(6 months) (6 months)

16,938,451 27,587,144

-12,281-6,969

3,327 1,888

-8,954-5,081

-7,831 234,976

2,121 -63,631-2,052,627 8,660,943

-2,058,337 8,832,288

-2,067,291 8,827,207

14,871,160 36,414,351

12,879,909 24,348,105

1,991,251 12,066,246

The accompanying notes form an integral part of these consolidated financial statements

Socfin - Interim Financial Report - Half year ended 30 June 2019 - 4

Consolidated statement of financial position

at 30 June 2019

(unaudited)

ASSETS	Note	30/06/2019	31/12/2018
		EUR	EUR
Non-current assets
Goodwill		4,951,057	4,951,057
Intangible assets		3,317,354	3,761,830
Property, plant and equipment	3	322,068,430	320,995,026
Bearer plants	3	510,326,207	508,460,019
Investment properties		4,346,155	4,505,864
Right-of-use assets	4	19,913,861	0
Financial assets at fair value through other
comprehensive income		917,195	929,476
Long-term advances		4,500,324	4,473,170
Deferred tax assets		13,101,521	14,240,147
Other non-current assets		94,020	160,671
		883,536,124	862,477,260
Current assets
Inventories	5	113,790,601	86,580,724
Trade receivables		27,883,218	31,418,502
Other receivables		18,158,466	16,260,532
Current tax assets		13,606,103	14,878,461
Cash and cash equivalents		64,657,947	59,941,616
		238,096,335	209,079,835
TOTAL ASSETS		1,121,632,459	1,071,557,095

The accompanying notes form an integral part of these consolidated financial statements

Socfin - Interim Financial Report - Half year ended 30 June 2019 - 5