Parques Reunidos Servicios Centrales, S.A.U. and Subsidiaries
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Parques Reunidos Servicios Centrales, S.A.U. and Subsidiaries. Consolidated Annual Accounts 30 September 2015 Consolidated Directors’ Report 2015 (With Independent Auditor's Report thereon) (Free translation from the original in Spanish. In the event of discrepancy, the Spanish-language version prevails.) KPMG Auditores S.L. Edificio Torre Europa Paseo de la Castellana, 95 28046 Madrid Independent Auditor's Report on the Consolidated Annual Accounts (Translation from the original in Spanish. In the event of discrepancy, the Spanish-language version prevails.) To the sole shareholder of Parques Reunidos Servicios Centrales, S.A.U. Report on the consolidated annual accounts We have audited the accompanying consolidated annual accounts of Parques Reunidos Servicios Centrales, S.A.U. (the “Company”) and its subsidiaries (the “Group”), which comprise the consolidated statement of financial position at 30 September 2015 and the consolidated income statement, consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the year then ended, and consolidated notes. Directors' responsibility for the consolidated annual accounts The Directors are responsible for the preparation of the accompanying consolidated annual accounts in such a way that they present fairly the consolidated equity, consolidated financial position and consolidated financial performance of Parques Reunidos Servicios Centrales, S.A.U. in accordance with International Financial Reporting Standards as adopted by the European Union (IFRS-EU), and other provisions of the financial reporting framework applicable to the Group in Spain and for such internal control that they determine is necessary to enable the preparation of consolidated annual accounts that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these consolidated annual accounts based on our audit. We conducted our audit in accordance with prevailing legislation regulating the audit of accounts in Spain. This legislation requires that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated annual accounts are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated annual accounts. The procedures selected depend on the auditor's judgement, including the assessment of the risks of material misstatement of the consolidated annual accounts, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation of the consolidated annual accounts in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the consolidated annual accounts taken as a whole. KPMG Auditores S.L., a limited liability Spanish company and a Reg. Mer Madrid, T. 11.961, F. 90, member firm of the KPMG network of independent member firms Sec. 8, H. M -188.007, Inscrip. 9 affiliated with KPMG International Cooperative (“KPMG International”), N.I.F. B-78510153 a Swiss entity. All rights reserved. 2 We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the accompanying consolidated annual accounts for the year ended 30 September 2015 present fairly, in all material respects, the consolidated equity and consolidated financial position of Parques Reunidos Servicios Centrales, S.A.U. and subsidiaries at 30 September 2015 and their financial performance and consolidated cash flows for the year then ended in accordance with International Financial Reporting Standards as adopted by the European Union and other applicable provisions of the financial reporting framework in Spain. Report on other legal and regulatory requirement The accompanying consolidated directors’ report for the year ended 30 September 2015 contains such explanations as the Directors of Parques Reunidos Servicios Centrales, S.A.U. consider relevant to the situation of the Group, its business performance and other matters, and is not an integral part of the consolidated annual accounts. We have verified that the accounting information contained therein is consistent with that disclosed in the consolidated annual accounts for the year ended 30 September 2015. Our work as auditors is limited to the verification of the consolidated directors’ report within the scope described in this paragraph and does not include a review of information other than that obtained from the accounting records of Parques Reunidos Servicios Centrales, S.A.U. and subsidiaries. KPMG Auditores, S.L. (Signed on the original in Spanish) Manuel Martín Barbón 10 December 2015 PARQUES REUNIDOS SERVICIOS CENTRALES, S.A.U. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AT 30 SEPTEMBER 2015 AND 2014 (Thousands of Euros) (Free translation from the original in Spanish. In the event of discrepancy, the Spanish-language version prevails.) ASSETS Note 2015 2014 Property, plant and equipment 8 775.260 692.368 Goodwill 7 680.721 649.707 Intangible assets 6 418.235 479.269 Non-current financial assets 10 (a) 39.108 30.630 Deferred tax assets 18 37.235 39.238 Total non-current assets 1.950.559 1.891.212 Inventories 4 (m) 22.625 21.067 Trade and other receivables 11 34.495 27.078 Current tax assets 18 436 55 Other current financial assets 10 (b) 28.734 25.731 Other current assets 7.590 5.733 Cash and cash equivalents 12 151.064 157.422 Total current assets 244.944 237.039 Total assets 2.195.503 2.128.251 EQUITY AND LIABILITIES Note 2015 2014 Share capital 23.436 23.436 Share premium 819.463 819.463 Other reserves (283.707) (285.386) Other comprehensive income 29.887 15.474 Retained earnings attributable to the shareholder of the Parent 20.103 7.459 Equity attributable to the shareholder of the Parent 609.182 580.446 Non-controlling interests 850 1.256 Total equity 13 610.032 581.702 Financial liabilities from issuing bonds 14 377.647 332.057 Loans and borrowings 15 774.341 754.716 Deferred tax liabilities 18 242.197 282.029 Provisions 16 11.694 11.614 Other non-current liabilities 10 (a) 44.063 32.541 Total non-current liabilities 1.449.942 1.412.957 Financial liabilities from issuing bonds 14 14.713 13.115 Loans and borrowings 15 738 1.149 Trade and other payables 17 107.794 110.810 Current tax liabilities 18 4.326 4.457 Other current liabilities 7.958 7.698 Total current liabilities 135.529 133.592 Total equity and liabilities 2.195.503 2.128.251 The accompanying notes form an integral part of the consolidated annual accounts for 2015. 1 PARQUES REUNIDOS SERVICIOS CENTRALES, S.A.U. AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENTS FOR THE YEARS ENDED 30 SEPTEMBER 2015 AND 2014 (Thousands of Euros) (Free translation from the original in Spanish. In the event of discrepancy, the Spanish-language version prevails.) PROFIT AND LOSS Note 2015 2014 Revenue 20 (a) 605.499 543.220 Other income 20 (b) 612 1.244 Supplies 20 (d) (68.965) (70.229) Personnel expenses 21 (168.634) (148.544) Amortisation and depreciation 6 and 8 (67.562) (46.822) Net losses on impairment and disposals of non-current assets 6, 7 and 8 (2.298) (2.567) Changes in trade provisions 10 (a) and 11 (a) (4.247) 533 Other operating expenses 20 (e) (173.084) (154.911) Profits from business combinations 5 (a) 8.750 Other expenses 20 (c) (9.481) (5.669) Operating profit 120.590 116.255 Finance income 602 1.103 Finance costs 20 (f) (94.152) (87.800) Exchange losses (4.971) (1.382) Profit before income tax 22.069 28.176 Income tax 18 (2.247) (19.857) Profit for the year 19.822 8.319 Profit for the year attributable to: the shareholder of the Parent 20.103 7.459 Non-controlling interests 13 (281) 860 19.822 8.319 Basic earnings per share (expressed in Euros) 13 0,86 0,32 Diluted earnings per share (expressed in Euros) 13 0,86 0,32 The accompanying notes form an integral part of the consolidated annual accounts for 2015. 2 PARQUES REUNIDOS SERVICIOS CENTRALES, S.A.U. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME FOR THE YEARS ENDED 30 SEPTEMBER 2015 AND 2014 (Thousands of Euros) (Free translation from the original in Spanish. In the event of discrepancy, the Spanish-language version prevails.) Note 2015 2014 Profit for the year 19.822 8.319 Other comprehensive income Translation differences of financial statements of foreign operations 13 (e) 14.413 7.590 Cash flow hedges 13 (e) - 2.210 Tax effect 13 (e) - (663) Other comprehensive income for the year, net of tax 14.413 9.137 Total comprehensive income for the year 34.235 17.456 Total comprehensive income attributable to: the shareholder of the Parent 34.516 16.596 Non-controlling interests (281) 860 34.235 17.456 The accompanying notes form an integral part of the consolidated annual accounts for 2015. 3 PARQUES REUNIDOS SERVICIOS CENTRALES, S.A.U. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR THE YEARS ENDED 30 SEPTEMBER 2015 AND 2014 (Thousands of Euros) (Free translation from the original in Spanish. In the event of discrepancy, the Spanish‐language version