0001193125-14-197956.txt : 20140514 0001193125-14-197956.hdr.sgml : 20140514 20140514061633 ACCESSION NUMBER: 0001193125-14-197956 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140514 FILED AS OF DATE: 20140514 DATE AS OF CHANGE: 20140514 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHIPMOS TECHNOLOGIES BERMUDA LTD CENTRAL INDEX KEY: 0001133478 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 000000000 STATE OF INCORPORATION: F5 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-31106 FILM NUMBER: 14839149 BUSINESS ADDRESS: STREET 1: SCIENCE BASED INDUSTRIAL PARK STREET 2: R&D RD CITY: HSINCHU TAIWAN STATE: F5 ZIP: 300 BUSINESS PHONE: 88635770055 6-K 1 d726827d6k.htm FORM 6-K Form 6-K

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of May, 2014

 

 

ChipMOS TECHNOLOGIES (Bermuda) LTD.

(Translation of Registrant’s Name Into English)

 

 

No. 1, R&D Rd. 1, Hsinchu Science Park

Hsinchu, Taiwan

Republic of China

(Address of Principal Executive Offices)

 

 

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

Form 20-F  x            Form 40-F  ¨

(Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)

Yes  ¨            No   x

(If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-            .)

 

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    ChipMOS TECHNOLOGIES (Bermuda) LTD.
   

(Registrant)

Date: May 14, 2014     By  

/S/ S. J. Cheng

    Name:   S. J. Cheng
    Title:   Chairman & Chief Executive Officer

LOGO

 

Contacts:   

In Taiwan

Dr. S.K. Chen

ChipMOS TECHNOLOGIES (Bermuda) LTD.

+886-6-507-7712

s.k._chen@chipmos.com

   

In the U.S.

David Pasquale

Global IR Partners

+1-914-337-8801

dpasquale@globalirpartners.com

ChipMOS REPORTS FIRST QUARTER 2014 RESULTS

1Q14 Highlights (as compared to 4Q13):

 

  •   Net Revenue Increased 2.0% to US$163.8 Million from US$160.6 Million

 

  •   Gross Profit Increased to US$32.4 Million from US$30.5 Million

 

  •   Gross Margin Improved to 19.8% from 19.0%

 

  •   Net Earnings on an IFRSs Consolidated Basis of US$0.37 Per Basic and US$0.36 Per Diluted Share Compared to US$0.19 Per Basic and US$0.18 Per Diluted Share

 

  •   Generated US$12.0 Million of Free Cash Flow after US$18.7 Million of CapEx

 

  •   Reduced Total Debt by an additional US$44.5 million to US$203.5 million

 

  •   Retained Balance of Cash and Cash Equivalents at US$404.2 Million

 

  •   Company’s Majority Owned Subsidiary Commenced Trading on Taiwan’s Main Stock Exchange on April 11, 2014

Hsinchu, Taiwan, May 14, 2014 - ChipMOS TECHNOLOGIES (Bermuda) LTD. (“ChipMOS” or the “Company”) (Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services (“OSAT”), today reported unaudited consolidated financial results for the first quarter ended March 31, 2014. All U.S. dollar figures in this release are based on the exchange rate of NT$30.45 against US$1.00 as of March 31, 2014.

Net revenue for the first quarter of 2014 was NT$4,989.0 million or US$163.8 million, an increase of 2.0% from NT$4,890.1 million or US$160.6 million in the fourth quarter of 2013 and an increase of 12.9% from NT$4,420.7 million or US$145.2 million for the same period in 2013. This is at the high-end of the Company’s guidance for first quarter of 2014 revenue to be flat to up in the low single digits as compared to the fourth quarter of 2013.

Net income for the first quarter of 2014 was NT$331.1 million or US$10.9 million, and NT$11.14 or US$0.37 per basic common share and NT$10.87 or US$0.36 per diluted common share, as compared to net income for the fourth quarter of 2013 of NT$170.8 million or US$5.6 million, and NT$5.77 or US$0.19 per basic common share and NT$5.63 or US$0.18 per diluted common share, and compared to net income in the first quarter of 2013 of NT$363.6 million or US$11.9 million, and NT$12.58 or US$0.41 per basic common share and NT$12.31 or US$0.40 per diluted common share.

The unaudited consolidated financial results of ChipMOS for the first quarter ended March 31, 2014 included the financial results of ChipMOS TECHNOLOGIES INC. (“ChipMOS Taiwan”), ChipMOS U.S.A., Inc., ThaiLin Semiconductor Corp. and MODERN MIND TECHNOLOGY LIMITED and its wholly-owned subsidiary ChipMOS TECHNOLOGIES (Shanghai) LTD.

S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, “We started the year off with first quarter revenue growth in a normally seasonally lower quarter. Strength in our LCD driver and our memory markets helped us achieve first quarter 2014 revenue at the high-end of the Company’s guidance. Revenue from DRAM, mainly niche DRAM, increased 16.3% in Q1’14 sequentially and our WLSCP revenue grew 20.8% in Q1 compared to Q4’13. Our overall capacity utilization rate improved to 77% compared to 76% in Q4’13 and 75% in the same period one year ago. We are optimistic about the future for ChipMOS given the Company’s market leadership, optimized customer base and our financial strength. We are executing on our business strategy and have numerous catalysts for profitable growth. We expect to see continued momentum in 2014, led by robust demand in our LCD driver and memory demand in mobile applications and UHD TVs.”

LOGO

 

S.K. Chen, Chief Financial Officer of ChipMOS, said, “Our business mix and improved utilization allowed us to drive further improvements in gross margin to 19.8% in the first quarter. We expect to achieve further improvements in gross margin in the second quarter, led by our business momentum, improved utilization and overall conservative CapEx strategy. We exited the first quarter with a strong balance of cash and cash equivalents at US$404.2 million, with free cash flow of US$12.0 million in Q1 2014 after CapEx of US$18.7 million in the first quarter. Our total debt was reduced by another US$44.5 million to US$203.5 million, which in turn improved our net debt to equity ratio to -44.0% as of March 31, 2014. The increase in consolidated income taxes for the first quarter is due to the higher amount paid by ThaiLin for the gain recognized on the share sales related to the Company’s efforts in enabling ChipMOS Taiwan to meet the listing eligibility requirements for Taiwan Stock Exchange (“TWSE”) and our consolidated income tax rate will revert to a normalized level in the second quarter of 2014.”

Selected Operation Data

 

     1Q14     4Q13  

Revenue by segment

     

Testing

      23 %      24 % 

Assembly

      34 %      33 % 

LCD Driver

      24 %      25 % 

Bumping

      19 %      18 % 

Utilization by segment

     

Testing

      69 %      70 % 

Assembly

      77 %      75 % 

LCD Driver

      75 %      76 % 

Bumping

      90 %      87 % 

Overall

      77 %      76 % 

CapEx

    US$ 18.7 million      US$ 40.4 million   

Testing

      34 %      6 % 

Assembly

      29 %      20 % 

LCD Driver

      9 %      65 % 

Bumping

      28 %      9 % 

Depreciation and amortization expenses

    US$ 24.6 million      US$ 24.6 million   

 

Condensed consolidated statements of cash flows    Period ended Mar. 31,
2014
US$ million		     Period ended Mar. 31,
2013
US$ million		  

Net cash generated from (used in) operating activities

      46.6        42.8   

Net cash generated from (used in) investing activities

      (35.7 )      (20.5 ) 

Net cash generated from (used in) financing activities

      (45.9 )      (34.6 ) 

Net increase (decrease) in cash and cash equivalents

      (35.0 )      (12.3 ) 

Effect of exchange rate changes on cash

      (0.0 )      (0.2 ) 

Cash and cash equivalents at beginning of period

      439.2        291.1   

Cash and cash equivalents at end of period

      404.2        278.6   

Taiwan Listing Update

Our subsidiary, ChipMOS Taiwan, commences trading on TWSE on April 11, 2014 under Stock Ticker 8150, with 864.6 million shares outstanding, of which the Company owns approximately 522.1 million or 60.4% of the shares outstanding. Shares that previously traded on the Gre Tai Securities Market now trade on the TWSE and ceased trading on the Gre Tai Securities Market.

LOGO

 

Second Quarter 2014 Outlook

Led by expected demand from the LCD driver and memory market for both mobile applications and UHD TVs, the Company expects second quarter of 2014 revenue to increase approximately 8% to 12% as compared to the first quarter of 2014. The Company expects gross margin on a consolidated basis to be in the range of approximately 21% to 24% for the second quarter of 2014. The Company expects depreciation and amortization expenses for the second quarter of 2014 to be approximately US$24 million. Operating expenses are expected to be approximately 6% to 8% of revenues in the second quarter of 2014. The Company expects CapEx spending to be approximately US$24 million in the second quarter of 2014, with CapEx spending for the full year 2014 to be less than US$80 million. The total number of the Company’s outstanding common shares at the end of the second quarter of 2014 is expected to be approximately 30 million.

Investor Conference Call / Webcast Details

ChipMOS will review detailed first quarter 2014 results on Wednesday, May 14, 2014 at 8:00 a.m. Eastern Time (8:00 p.m. Taiwan time, Wednesday, May 14, 2014). The conference call-in number is +1-201-689-8562. A live webcast of the conference call will be available at ChipMOS’ website at http://www.chipmos.com. The playback is scheduled to be available in 2 hours after the conclusion of the conference call and will be accessible by dialing +1-858-384-5517, with confirmation ID number 13580784.

About ChipMOS TECHNOLOGIES (Bermuda) LTD.:

ChipMOS TECHNOLOGIES (Bermuda) LTD. (“ChipMOS” or the “Company”) (NASDAQ: IMOS) (http://www.chipmos.com) is an industry leading provider of semiconductor assembly and testing services. With advanced facilities in Hsinchu and Southern Taiwan Science Parks in Taiwan and Shanghai, ChipMOS and its subsidiaries provide testing and assembly services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries. The Company’s majority-owned subsidiary, ChipMOS Taiwan, is listed on TWSE under Stock Ticker 8150.

Forward-Looking Statements

Certain statements contained in this announcement may be viewed as “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Further information regarding these risks, uncertainties and other factors are included in the Company’s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) and in the Company’s other filings with the SEC.

- FINANCIAL TABLES FOLLOW BELOW -

LOGO

 

ChipMOS TECHNOLOGIES (Bermuda) LTD.

UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the Three Months Ended Mar. 31, 2014, Dec. 31, and Mar. 31, 2013

Figures in Million of U.S. dollars (USD) (1)

Except for Per Share Amounts and Shares Outstanding

 

     3 months ended  
     Mar. 31, 2014     Dec. 31, 2013     Mar. 31, 2013  
     USD     USD     USD  

Revenue

      163.8        160.6        145.2   

Cost of revenue

      (131.4 )      (130.1 )      (125.0 ) 
  

 

 

    

 

 

    

 

 

  

Gross profit

      32.4        30.5        20.2   
  

 

 

    

 

 

    

 

 

  

Other operating income

      0.6        0.4        3.8   

Research and development expenses

      (5.6 )      (5.3 )      (4.1 ) 

Sales and marketing expenses

      (0.9 )      (0.8 )      (0.7 ) 

Administrative and general expenses

      (5.8 )      (6.3 )      (4.6 ) 

Other operating expenses

      (0.5 )      (1.1 )      (0.1 ) 
  

 

 

    

 

 

    

 

 

  

Operating profit

      20.2        17.4        14.5   
  

 

 

    

 

 

    

 

 

  

Non-operating income (expense), net

      3.9        2.0        4.0   
  

 

 

    

 

 

    

 

 

  

Profit (loss) before tax

      24.1        19.4        18.5   

Income tax benefit (expense)

      (8.5 )      (12.3 )      (3.4 ) 
  

 

 

    

 

 

    

 

 

  

Profit (loss) for the year

      15.6        7.1        15.1   
  

 

 

    

 

 

    

 

 

  

Attributable to:

       

Equity holders of the Company

      10.9        5.6        11.9   

Non-controlling interests

      4.7        1.5        3.2   
  

 

 

    

 

 

    

 

 

  
     15.6        7.1        15.1   
  

 

 

    

 

 

    

 

 

  

Profit (loss) for the year

      15.6        7.1        15.1   

Other comprehensive income (loss):

     

Exchange differences on translation of foreign operations

      0.1        0.3        0.5   

Net actuarial losses

      —          (1.0 )      —     

Income tax effect

      —          0.2        —     
  

 

 

    

 

 

    

 

 

  

Total other comprehensive income (loss)

      0.1        (0.5 )      0.5   
  

 

 

    

 

 

    

 

 

  

Total comprehensive income (loss)

      15.7        6.6        15.6   
  

 

 

    

 

 

    

 

 

  

Attributable to:

     

Equity holders of the Company

      10.9        4.7        12.3   

Non-controlling interests

      4.8        1.9        3.3   
  

 

 

    

 

 

    

 

 

  
     15.7        6.6        15.6   
  

 

 

    

 

 

    

 

 

  

Earnings (loss) per share attributable to the Company – basic

      0.37        0.19        0.41   
  

 

 

    

 

 

    

 

 

  

Shares outstanding (in thousands) – basic

      29,727        29,621        28,893   
  

 

 

    

 

 

    

 

 

  

Net income (loss) attributable to the Company – diluted

      10.9        5.6        11.9   
  

 

 

    

 

 

    

 

 

  

Earnings (loss) per share attributable to the Company – diluted

      0.36        0.18        0.40   
  

 

 

    

 

 

    

 

 

  

Shares outstanding (in thousands) – diluted

      30,467        30,357        29,542   
  

 

 

    

 

 

    

 

 

  

Note:

 

(1) All U.S. dollar figures in this release are based on the exchange rate of NT$30.45 against US$1.00 as of Mar. 31, 2014. The convenience translation should not be construed as representations that the NT dollar amounts have been, or could be in the future be, converted into US dollars at this or any other exchange rate.

LOGO

 

ChipMOS TECHNOLOGIES (Bermuda) LTD.

UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the Three Months Ended Mar. 31, 2014, Dec. 31, and Mar. 31, 2013

Figures in Million of NT dollars (NTD)

Except for Per Share Amounts and Shares Outstanding

 

     3 months ended  
     Mar. 31, 2014     Dec. 31, 2013     Mar. 31, 2013  
     NTD     NTD     NTD  

Revenue

      4,989.0        4,890.1        4,420.7   

Cost of revenue

      (4,003.0 )      (3,960.7 )      (3,804.9 ) 
  

 

 

    

 

 

    

 

 

  

Gross profit

      986.0        929.4        615.8   
  

 

 

    

 

 

    

 

 

  

Other operating income

      19.2        11.9        114.6   

Research and development expenses

      (170.0 )      (161.8 )      (123.7 ) 

Sales and marketing expenses

      (27.3 )      (24.6 )      (22.5 ) 

Administrative and general expenses

      (176.1 )      (193.4 )      (141.4 ) 

Other operating expenses

      (15.6 )      (33.1 )      (1.4 ) 
  

 

 

    

 

 

    

 

 

  

Operating profit

      616.2        528.4        441.4   
  

 

 

    

 

 

    

 

 

  

Non-operating income (expense), net

      118.6        60.9        121.3   
  

 

 

    

 

 

    

 

 

  

Profit (loss) before tax

      734.8        589.3        562.7   

Income tax benefit (expense)

      (258.9 )      (374.1 )      (101.5 ) 
  

 

 

    

 

 

    

 

 

  

Profit (loss) for the year

      475.9        215.2        461.2   
  

 

 

    

 

 

    

 

 

  

Attributable to:

       

Equity holders of the Company

      331.1        170.8        363.6   

Non-controlling interests

      144.8        44.4        97.6   
  

 

 

    

 

 

    

 

 

  
     475.9        215.2        461.2   
  

 

 

    

 

 

    

 

 

  

Profit (loss) for the year

      475.9        215.2        461.2   

Other comprehensive income (loss):

       

Exchange differences on translation of foreign operations

      2.3        8.4        14.2   

Net actuarial losses

      —          (30.6 )      —     

Income tax effect

      —          5.2        —     
  

 

 

    

 

 

    

 

 

  

Total other comprehensive income (loss)

      2.3        (17.0 )      14.2   
  

 

 

    

 

 

    

 

 

  

Total comprehensive income (loss)

      478.2        198.2        475.4   
  

 

 

    

 

 

    

 

 

  

Attributable to:

       

Equity holders of the Company

      332.5        141.8        375.6   

Non-controlling interests

      145.7        56.4        99.8   
  

 

 

    

 

 

    

 

 

  
     478.2        198.2        475.4   
  

 

 

    

 

 

    

 

 

  

Earnings (loss) per share attributable to the Company – basic

      11.14        5.77        12.58   
  

 

 

    

 

 

    

 

 

  

Shares outstanding (in thousands) – basic

      29,727        29,621        28,893   
  

 

 

    

 

 

    

 

 

  

Net income (loss) attributable to the Company – diluted

      331.1        170.8        363.6   
  

 

 

    

 

 

    

 

 

  

Earnings (loss) per share attributable to the Company – diluted

      10.87        5.63        12.31   
  

 

 

    

 

 

    

 

 

  

Shares outstanding (in thousands) – diluted

      30,467        30,357        29,542   
  

 

 

    

 

 

    

 

 

  

LOGO

 

ChipMOS TECHNOLOGIES (Bermuda) LTD.

UNAUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As of Mar. 31, 2014, Dec. 31, and Mar. 31, 2013

Figures in Million of U.S. dollars (USD) (1)

 

     Mar. 31, 2014      Dec. 31, 2013     Mar. 31, 2013  
     USD      USD     USD  

ASSETS

        

Non-current assets

        

Available-for-sale financial assets

      0.3         0.3        0.4   

Property, plant & equipment

      414.8         420.7        399.3   

Other non-current assets

      10.6         10.9        20.4   
  

 

 

     

 

 

    

 

 

  

Total non-current assets

      425.7         431.9        420.1   
  

 

 

     

 

 

    

 

 

  

Current assets

        

Inventories

      49.4         49.9        57.0   

Accounts and notes receivable

      136.7         135.1        128.5   

Short-term deposits

      9.1         6.0        30.9   

Other current assets

      8.5         8.8        8.6   

Cash and cash equivalents

      404.2         439.2        278.6   
  

 

 

     

 

 

    

 

 

  

Total current assets

      607.9         639.0        503.6   
  

 

 

     

 

 

    

 

 

  

Total assets

      1,033.6         1,070.9        923.7   
  

 

 

     

 

 

    

 

 

  

EQUITY AND LIABILITIES

        

EQUITY

        

Issued capital

      1.1         1.2        1.3   

Capital surplus

      387.2         392.3        378.4   

Treasury stock

      —           (9.7 )      (20.9 ) 

Retained earnings

      53.4         47.3        22.7   

Other component of equity

      14.5         14.4        14.1   
  

 

 

     

 

 

    

 

 

  

Equity attributable to equity holders of the Company

      456.2         445.5        395.6   
  

 

 

     

 

 

    

 

 

  

Non-controlling interests

      237.5         230.7        135.8   
  

 

 

     

 

 

    

 

 

  

Total equity

      693.7         676.2        531.4   
  

 

 

     

 

 

    

 

 

  

LIABILITIES

        

Non-current liabilities

        

Bank loans – non-current portion

      97.5         127.7        182.7   

Other non-current liabilities

      19.2         19.2        15.6   
  

 

 

     

 

 

    

 

 

  

Total non-current liabilities

      116.7         146.9        198.3   
  

 

 

     

 

 

    

 

 

  

Current liabilities

        

Accounts payable and payables to contractors and equipment suppliers

      41.3         59.6        45.5   

Other current liabilities

      75.9         67.9        59.5   

Bank loans – current portion

      74.3         94.4        76.7   

Short-term bank loans

      31.7         25.9        12.3   
  

 

 

     

 

 

    

 

 

  

Total current liabilities

      223.2         247.8        194.0   
  

 

 

     

 

 

    

 

 

  

Total liabilities

      339.9         394.7        392.3   
  

 

 

     

 

 

    

 

 

  

Total equity and liabilities

      1,033.6         1,070.9        923.7   
  

 

 

     

 

 

    

 

 

  

Note:

 

(1) All U.S. dollar figures in this release are based on the exchange rate of NT$30.45 against US$1.00 as of Mar. 31, 2014. The convenience translation should not be construed as representations that the NT dollar amounts have been, or could be in the future be, converted into US dollars at this or any other exchange rate.

LOGO

 

ChipMOS TECHNOLOGIES (Bermuda) LTD.

UNAUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As of Mar. 31, 2014, Dec. 31, and Mar. 31, 2013

Figures in Million of NT dollars (NTD)

 

     Mar. 31, 2014      Dec. 31, 2013     Mar. 31, 2013  
     NTD      NTD     NTD  

ASSETS

        

Non-current assets

        

Available-for-sale financial assets

      8.6         8.6        11.6   

Property, plant & equipment

      12,630.1         12,811.9        12,159.4   

Other non-current assets

      323.4         330.4        622.6   
  

 

 

     

 

 

    

 

 

  

Total non-current assets

      12,962.1         13,150.9        12,793.6   
  

 

 

     

 

 

    

 

 

  

Current assets

        

Inventories

      1,503.5         1,519.4        1,734.5   

Accounts and notes receivable

      4,162.9         4,114.6        3,913.6   

Short-term deposits

      277.3         181.9        939.3   

Other current assets

      258.8         268.7        261.9   

Cash and cash equivalents

      12,307.8         13,372.8        8,483.2   
  

 

 

     

 

 

    

 

 

  

Total current assets

      18,510.3         19,457.4        15,332.5   
  

 

 

     

 

 

    

 

 

  

Total assets

      31,472.4         32,608.3        28,126.1   
  

 

 

     

 

 

    

 

 

  

EQUITY AND LIABILITIES

        

EQUITY

        

Issued capital

      34.8         37.2        39.0   

Capital surplus

      11,789.2         11,945.8        11,520.8   

Treasury stock

      —           (297.6 )      (635.8 ) 

Retained earnings

      1,625.6         1,440.6        692.1   

Other component of equity

      440.1         438.7        428.9   
  

 

 

     

 

 

    

 

 

  

Equity attributable to equity holders of the Company

      13,889.7         13,564.7        12,045.0   
  

 

 

     

 

 

    

 

 

  

Non-controlling interests

      7,233.2         7,024.9        4,135.0   
  

 

 

     

 

 

    

 

 

  

Total equity

      21,122.9         20,589.6        16,180.0   
  

 

 

     

 

 

    

 

 

  

LIABILITIES

        

Non-current liabilities

        

Bank loans – non-current portion

      2,968.2         3,889.0        5,563.1   

Other non-current liabilities

      585.6         584.7        476.0   
  

 

 

     

 

 

    

 

 

  

Total non-current liabilities

      3,553.8         4,473.7        6,039.1   
  

 

 

     

 

 

    

 

 

  

Current liabilities

        

Accounts payable and payables to contractors and equipment suppliers

      1,259.1         1,815.0        1,384.8   

Other current liabilities

      2,311.3         2,068.5        1,810.3   

Bank loans – current portion

      2,263.1         2,874.8        2,336.5   

Short-term bank loans

      962.2         786.7        375.4   
  

 

 

     

 

 

    

 

 

  

Total current liabilities

      6,795.7         7,545.0        5,907.0   
  

 

 

     

 

 

    

 

 

  

Total liabilities

      10,349.5         12,018.7        11,946.1   
  

 

 

     

 

 

    

 

 

  

Total equity and liabilities

      31,472.4         32,608.3        28,126.1   
  

 

 

     

 

 

    

 

 

  
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