Integrated
Report 2022

12.1. Financial results of the segments

The operating segments results are assessed mainly on the basis of revenue, operating profit (EBIT), operating profit plus depreciation and amortisation (EBITDA), and capital expenditure.

The tables below present revenue and profits as well as assets and liabilities of the particular operating segments of the Group.

Year 2022 FPS EPS ASS Other Eliminations Total
Statement of profit or loss
Sales 1,516,628 2,451,380 2,439,664   21,302 (498,109) 5,930,865
outside of the Group 1,516,508 1,976,346 2,437,649       362    0 5,930,865
to related parties           120    475,034      2,015 20,940 (498,109)         0
Dividends from related companies 0 0 0 501,948 (501,948) 0
Write-down of materials and trade goods       (875)      (3,003)      1,771             0             0  (2,107)
Write-downs of receivables        (659)      (1,890)       2,209              0                0   (340)
Write-downs of property, plant and equipment, and intangible assets                 0      (9,024)   (1,379) 0             0  (10,403)
Write-down of goodwill 0 (61) 0 0 0 (61)
Operating profit (EBIT) 296,681     256,731   320,292  480,747 (489,268) 865,183
Depreciation     33,366       72,093    57,813 2,876     104   166,252
EBITDA   330,047   328,824  378,105 483,623 (489,164) 1,031,435
Interest income     554            104    321          190           0 1,169
Interest costs and discounts  (8,818)     (18,578) (29,165)    (2,894)   0 (59,455)
Profit before tax 286,832   237,037   287,831 476,525  (489,268) 798,957
Income tax (51,783)    (23,148) (49,985)      8,086     (2,475) (119,305)
Net profit 235,049    213,889   237,846  484,611 (491,743)    679,652
Balance sheet
Total assets 1,139,746 1,210,908 1,386,191 582,212 (432,914) 3,886,143
Liabilities 283,669   654,596 999,874  102,887  (96,469) 1,944,557
Other data
Expenditures on property, plant and equipment, and intangible assets      7,321  211,303 143,406   25,010               0  387,040

Year 2021 FPS EPS ASS Other Eliminations Total
Statement of profit or loss
Sales 1,170,148 1,818,415 1,994,850 19,670 (405,508) 4,597,575
outside of the Group 1,170,030 1,434,769 1,992 215 312 0 4 597 326
to related parties 118 383 646 2,635 19,358 (405,508) 249
Dividends from related companies 0 0 0 398,048 (398,048) 0
Write-down of materials and trade goods 1,576 (1,080) (5,707) 0 0 (5,211)
Write-downs of receivables 186 (1,253) 1,337 0 0 270
Write-downs of property, plant and equipment, and intangible assets 21 (1,288) (3) 0 0 (1,270)
Operating profit (EBIT) 254,780 217,217 301,123 380,446 (407,518) 746,048
Depreciation 33,353 68,621 48,373 3,220 79 153,646
EBITDA 288,133 285,838 349,496 383,666 (407,439) 899,694
Interest income 58 123 1,628 5 0 1,814
Interest costs and discounts (2,814) (4,762) (4,878) (386) 0 (12,840)
Profit before tax 251,327 213,664 296,955 378,475 (407,516) 732,905
Income tax (48,643) (41,353) (56,160) 6,771 1,848 (137,537)
Net profit 202,684 172,311 240,795 385,246 (405,668) 595,368
Balance sheet
Total assets 1,086,344 1,215,301 1,262,926 465,693 (503,449) 3,526,815
Liabilities 325,708 708,746 773,966 108,229 (159,277) 1,757,372
Other data
Expenditures on property, plant and equipment, and intangible assets 8,159 66,920 99,083 1,315 0 175,477
  • The column ‘Eliminations’ contains inter-segment transactions and consolidation adjustments. In the statement of profit or loss it is mainly related to the sale of aluminium profiles by the EPS to the ASS. As regards assets and liabilities, eliminations comprise mainly investments in financial assets (shares and interests) and inter-segment settlements.

All of the transactions are concluded on arm’s length basis.