CONSOLIDATED FINANCIAL STATEMENTS OF EMMI GROUP

Consolidated balance sheet

in CHF 000s

Assets	Notes	31.12.2017	%	31.12.2016	%
Cash and cash equivalents		212,605		406,882
Securities		1,661		3,318
Trade receivables	8	432,729		386,523
Other receivables	9	31,066		32,192
Inventories	10	362,109		347,021
Prepayments and accrued income	11	29,915		56,245
Current assets		1,070,085	39.7	1,232,181	47.3

Investments in associates and joint ventures	30	71,539		28,880
Loans and other receivables	12	59,018		59,912
Securities		2,222		1,429
Employer contribution reserves	20	2,048		2,048
Deferred tax assets	6	10,908		8,011
Total financial assets		145,735		100,280
Prepayments and accrued income	11	5,869		6,242
Property, plant and equipment	13	930,439		920,018
Intangible assets	14	544,931		344,359
Non-current assets		1,626,974	60.3	1,370,899	52.7
Total assets		2,697,059	100.0	2,603,080	100.0
Liabilities and shareholders' equity
Bank overdrafts	18	33,403		14,865
Finance lease liabilities	18	1,331		1,226
Bonds	18	–		250,000
Loans	18	5,609		598
Trade payables	15	288,659		289,486
Other payables	16	23,301		17,944
Accrued liabilities and deferred income	17	165,423		149,896
Provisions	19	6,750		6,760
Current liabilities		524,476	19.4	730,775	28.1

Bank overdrafts	18	120,306		15,051
Finance lease liabilities	18	1,407		1,911
Loans	18	49,647		57,899
Bonds	18	400,000		200,000
Accrued liabilities and deferred income	17	3,098		7,462
Provisions	19	76,888		83,963
Non-current liabilities		651,346	24.2	366,286	14.0

Liabilities		1,175,822	43.6	1,097,061	42.1

Share capital		53,498		53,498
Capital reserves		44,887		76,451
Retained earnings		1,357,833		1,191,605
Shareholders’ equity excl. minority interests		1,456,218	54.0	1,321,554	50.8

Minority interests		65,019	2.4	184,465	7.1
Shareholders’ equity incl. minority interests		1,521,237	56.4	1,506,019	57.9
Total liabilities and shareholders' equity		2,697,059	100.0	2,603,080	100.0