LSF9 Balta Issuer S.à r.l
Senior Secured Notes due 2024
Annual Report ended 31 December, 2020
2020
ANNUAL REPORT
Registered office: 15, Boulevard Friedrich Wilhelm Raiffeisen, L-2411 Luxembourg R.C.S. Luxembourg: B 198084
TABLE OF CONTENTS
THE GROUP AT A GLANCE
MANAGEMENT REPORT
SUMMARY OF MAIN RISKS
FINANCIAL REPORT
Consolidated statement of comprehensive income for the period ended 31 December
Consolidated statement of financial position as at 31 December
Consolidated statement of cash flows for the period ended 31 December
Consolidated statement of changes
in equity for the year ended 31 December
- Notes to the Consolidated Financial Statements 30
Note 1. Accounting policies | 30 | |
12 | Note 2. Critical accounting estimates | |
and judgements | 43 | |
Note 3. Reconciliation of non-GAAP measures | 45 | |
20 | Note 4. Segment reporting | 46 |
Note 5. Goodwill | 47 | |
Note 6. Employee benefit expenses | 48 | |
26 | Note 7. Other income and expenses | 49 |
Note 8. Depreciation / amortisation | 50 | |
Note 9. Integration and restructuring expenses | 50 | |
26 | Note 10. Finance expenses | 50 |
Note 11. Income tax benefit / expense | 51 | |
Note 12. Other intangible assets | 52 | |
27 | Note 13. Property, plant and equipment | 53 |
Note 14. Deferred income tax assets and liabilities | 55 | |
Note 15. Inventories | 58 | |
28 | Note 16. Trade and other receivables | 58 |
Note 17. Cash and cash equivalents | 60 | |
29 | Note 18. Share capital and share premium | 60 |
Note 19. Other comprehensive income | 60 | |
Note 20. Retained earnings | 61 | |
Note 21. Senior Secured Notes | 61 | |
Note 22. Senior Term Loan Facility | 62 | |
Note 23. Bank and other borrowings | 63 | |
Note 24. Leases | 65 | |
Note 25. Net debt reconciliations | 66 | |
Note 26. Additional disclosures on | ||
financial instruments | 67 | |
Note 27. Financial risk management | 68 | |
Note 28. Employee benefit obligations | 74 | |
Note 29. Other payroll and social related payables | 75 | |
Note 30. Provisions for other liabilities and charges | 75 | |
Note 31. Trade and other payables | 76 | |
Note 32. Share based payments | 76 | |
Note 33. Government grants | 76 | |
Note 34. Earnings per share | 77 | |
Note 35. Dividends per share | 78 | |
Note 36. Commitments | 78 | |
Note 37. List of consolidated companies | 78 | |
Note 38. Related party transactions | 79 | |
Note 39. Fees paid to the Group's auditors | 79 | |
Note 40. Events after the reporting period | 80 | |
Audit Report | 81 |
BALTA ANNUAL REPORT 2020 | 1 |
State-of-the-art weaving looms
THE GROUP
AT A GLANCE
Balta is a leading producer of textile floor coverings. With a consolidated revenue of € 562m and 3,838 employees, our products are manufactured in 8 production facilities and sold to 136 countries globally.
REVENUE 2020 | ADJUSTED EBITDA 2020 |
PER REPORTING SEGMENT | PER REPORTING SEGMENT |
34% | 45% | ||
3% | |||
1% | |||
TOTAL | TOTAL | ||
ADJUSTED | |||
REVENUE 2020 | |||
EBITDA 2020 | |||
561.8 | |||
68.0 | |||
30% | 26% | ||
33% | |||
28% |
RUGS
RESIDENTIAL
COMMERCIAL
NON-WOVEN
2 | BALTA ANNUAL REPORT 2020 |
REPORTING SEGMENTS
RUGS
woven and tufted area rugs, under the Balta home brand.
RESIDENTIAL
wall-to-wall carpet and carpet tiles for private use, through the brands Balta carpets, ITC and Balta carpet tiles.
COMMERCIAL
wall-to-wall carpet and carpet tiles for commercial use under the brands arc edition, Bentley and modulyss.
NON-WOVEN
needle felt, carpet backing and technical non-wovens under the Captiqs brand.
Our traditional core markets include the United States, the United Kingdom, Germany, France, and we have a significant presence in Central and Eastern Europe.
BALTA ANNUAL REPORT 2020 | 3 |
Attachments
- Original document
- Permalink
Disclaimer
Balta Group NV published this content on 26 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 April 2021 08:33:08 UTC.