18.1 Share capital
Wartość kapitału zakładowego
| As at 31.12.2014 | As at 31.12.2013 | |
|---|---|---|
| Value of share capital | 120 000 | 120 000 |
| Nominal value of series B shares | 75 582 | 75 582 |
| Nominal value of series C shares | 124 995 | 124 995 |
| Nominal value of series D shares | 175 400 | 175 400 |
| 495 977 | 495 977 |
Number of shares
| As at 31.12.2014 | As at 31.12.2013 | |
|---|---|---|
| Number of shares at the beginning of the period | 99 195 484 | 64 115 444 |
| Share issue | - | 35 080 040 |
| Number of shares at the end of the period | 99 195 484 | 99 195 484 |
| Nominal value of 1 share (PLN/share) | 5 | 5 |
Holders of ordinary shares are entitled to receive dividends as declared, and are entitled to one vote per share at the General Meeting. All shares participate to the same extent in the net assets in case of liquidation.
Limitation of voting rights
As long as the State Treasury of Poland or its subsidiaries hold shares in the Parent Company carrying at least one fifth of the total voting rights, the other shareholders’ voting rights will be limited in such a manner that no shareholder may exercise at the General Meeting more than one fifth of total voting rights existing on the day of the General Meeting.
18.2 Share premium
| As at 31.12.2014 | As at 31.12.2013 | |
|---|---|---|
| Share issue | 2 445 409 | 2 445 409 |
| Share issue costs (-) | (30 713) | (30 713) |
| Tax | 3 574 | 3 574 |
| 2 418 270 | 2 418 270 |
18.3 Fair value reserve
| As at 31.12.2014 | As at 31.12.2013 | |
|---|---|---|
| Revaluation of available-for-sale financial assets | - | 2 895 |
| Income tax (-/+) | - | -549 |
| Balance at the end of the period | - | 2 346 |
18.4 Dividends
In 2014, the Parent Company paid a dividend of PLN 19 839 thousand, i.e. PLN 0,20 per share (in 2013: PLN 148 793 thousand, i.e. PLN 1,50 per share).
18.5 Non-controlling Interests
The table on the following page summarises the information relating to each of the Group’s subsidiaries that has material non-controlling interests. The non-controlling interests and the attributable profit or loss and other comprehensive income include non-controlling interest in the Parent Company’s direct subsidiaries and their further subsidiaries.
| Grupa Kapitałowa Grupa Azoty POLICE | Grupa Kapitałowa Grupa Azoty PUŁAWY | Grupa Kapitałowa Grupa Azoty ZAK | Grupa Azoty SIARKOPOL | Other individually insignificant subsidiaries | Total | |
|---|---|---|---|---|---|---|
| Non-controlling interest percentage | 34,00% | 4,02% | 6,52% | 15,00% | ||
| Non-current assets | 1 379 416 | 2 699 333 | 1 133 103 | 309 139 | ||
| Current assets | 704 606 | 1 379 360 | 502 513 | 165 410 | ||
| Non-current liabilities | (291 738) | (221 473) | (150 469) | (44 417) | ||
| Current liabilities | (665 735) | (592 421) | (351 510) | (32 477) | ||
| Net assets | 1 126 549 | 3 264 799 | 1 133 637 | 397 655 | ||
| Carrying amount of non-controlling interests | 446 523 | 145 472 | 73 930 | 59 648 | 3 524 | 729 097 |
| Revenue | 2 412 443 | 3 654 580 | 2 060 378 | 257 122 | ||
| Profit | 69 083 | 165 672 | 77 555 | 1 122 | ||
| Other comprehensive income | 3 158 | (5 329) | (3 187) | (4 257) | ||
| Total profit or loss and other comprehensive income | 72 241 | 160 343 | 74 368 | (3 135) | ||
| Profit allocated to non-controlling interests | 21 510 | 6 421 | 5 077 | 168 | 529 | 33 705 |
| Other comprehensive income allocated to non-controlling interests | 2 959 | -533 | -208 | -639 | -65 | 1 514 |
| Cash flows from operating activities | 204 522 | 307 824 | 175 088 | 46 242 | ||
| Cash flows from investing activities | (197 383) | (189 729) | (120 115) | (47 431) | ||
| Cash flows from financing activities | (34 575) | (225 670) | (96 076) | (15 236) | ||
| Total net cash flows | (27 436) | (107 575) | (41 103) | (16 425) | ||
| Dividends allocated to non-controlling interests | 7 905 | 12 | 2 751 | 2 252 | 1 022 | 13 942 |
| 31 December 2013* restated | ||||||
| Non-controlling interest percentage | 34,00% | 4,02% | 6,52% | 15,00% | ||
| Non-current assets | 1 268 607 | 2 686 128 | 1 098 691 | 308 655 | ||
| Current assets | 705 769 | 1 460 599 | 569 106 | 171 348 | ||
| Non-current liabilities | (276 805) | (258 131) | (173 371) | (39 523) | ||
| Current liabilities | (620 013) | (784 128) | (392 967) | (24 675) | ||
| Net assets | 1 077 558 | 3 104 468 | 1 101 459 | 415 805 | ||
| Carrying amount of non-controlling interests | 429 959 | 139 596 | 71 812 | 62 371 | 4 082 | 707 820 |
| Revenue | 2 464 359 | 3 597 009 | 2 079 483 | 25 240 | ||
| Profit/(loss) | 42 273 | 149 706 | 77 855 | (13 045) | ||
| Other comprehensive income | (5 382) | 2 202 | -740 | 329 | ||
| Total profit or loss and other comprehensive income | 36 891 | 151 908 | 77 115 | (12 716) | ||
| Profit /(loss) allocated to non-controlling interests | 13 106 | 14 267 | 5 382 | (1 957) | 1 021 | 31 819 |
| Other comprehensive income allocated to non-controlling interests | (5 606) | 340 | -48 | 49 | -12 | (5 277) |
| Cash flows from operating activities | 219 758 | 552 433 | 140 339 | (6 558) | ||
| Cash flows from investing activities | (158 048) | (387 283) | (113 390) | (24 805) | ||
| Cash flows from financing activities | (29 168) | (3 222) | (15 807) | - | ||
| Total net cash flows | 32 542 | 161 928 | 11 142 | (31 363) | ||
| Dividends allocated to non-controlling interests | 17 277 | 8 025 | 4 127 | - | 576 | 30 005 |