REG - Just Eat Plc - Full Year Results <Origin Href="QuoteRef">ANTO.L</Origin> <Origin Href="QuoteRef">JE.L</Origin> - Part 2

AntofagastaAnnouncement

17/03/2015 07:02

- Part 2: For the preceding part double click  ID:nRSQ5981Ha 

         0.6    0.1   
 Depreciation and amortisation - Joint venture and associates     0.2    0.4   
 Long term employee incentive costs                            4  4.9    1.7   
 Exceptional items                                             5  2.7    1.0   
 Foreign exchange gains and losses                                (0.2)  0.6   
                                                                               
 Underlying EBITDA                                             3  32.6   14.1  
                                                                               
 
 
Underlying EBITDA is the main measure of profitability used by the Group and
is defined as earnings before finance income and costs, taxation, depreciation
and amortisation and additionally excludes the Group's share of depreciation
and amortisation of joint venture and associates, long term employee incentive
costs, exceptional items, foreign exchange gains and losses and 'other
gains'. 
 
Consolidated Statement of Other Comprehensive Income 
 
Year ended 31 December 2014 
 
                                                                                                           Year                    Year                    
                                                                                                           ended 31 December2014   ended 31 December2013   
                                                                                                           £m                      £m                      
                                                                                                                                   
 Profit for the year                                                                                       51.8                    6.8                     
                                                                                                                                                           
 Items that may be reclassified subsequently to profit or loss                                                                                             
 Exchange differences on translation of foreign operations                                                 (2.7)                   0.1                     
 Exchange differences on translation of foreign operations reclassified to income statement on disposal    3.5                     -                       
                                                                                                                                                           
                                                                                                           0.8                     0.1                     
 Items that will not be reclassified subsequently to profit or loss                                                                                        
 Tax on share options                                                                                      2.3                     -                       
                                                                                                                                                           
 Other comprehensive income for the year                                                                   3.1                     0.1                     
                                                                                                                                                           
 Total comprehensive income for the year                                                                   54.9                    6.9                     
                                                                                                                                                           
 Attributable to:                                                                                                                                          
 Owners of the Company                                                                                     55.1                    7.1                     
 Non-controlling interests                                                                                 (0.2)                   (0.2)                   
                                                                                                                                                           
 Total comprehensive income for the year                                                                   54.9                    6.9                     
                                                                                                                                                           
                                                                                                                                                           
 
 
Consolidated Balance Sheet 
 
As at 31 December 2014 
 
                                                   As at 31 December 2014£m  As at 31 December 2013£m  
 Non-current assets                                                                                    
 Goodwill                                          51.2                      10.2                      
 Other intangible assets                           12.7                      3.4                       
 Property, plant and equipment                     7.2                       5.5                       
 Investment in joint venture                       -                         7.4                       
 Investments in associates                         13.2                      0.4                       
 Deferred tax assets                               2.5                       0.9                       
                                                                                                       
                                                   86.8                      27.8                      
                                                                                                       
 Current assets                                                                                        
 Inventories                                       0.9                       0.8                       
 Trade and other receivables                       10.2                      3.9                       
 Current tax assets                                0.7                       0.2                       
 Cash and cash equivalents                         164.4                     61.6                      
 Associate held for sale                           0.2                       -                         
 Derivative financial instrument                   0.4                                                 
                                                                                                       
                                                   176.8                     66.5                      
                                                                                                       
 Total assets                                      263.6                     94.3                      
                                                                                                       
 Current liabilities                                                                                   
 Trade and other payables                          (59.1)                    (33.4)                    
 Current tax liabilities                           (2.0)                     (1.1)                     
 Deferred revenue                                  (4.0)                     (4.0)                     
 Provisions for liabilities                        (0.2)                     -                         
 Borrowings                                        (0.3)                     -                         
                                                                                                       
                                                   (65.6)                    (38.5)                    
                                                                                                       
 Net current assets                                111.2                     28.0                      
                                                                                                       
 Non-current liabilities                                                                               
 Deferred tax liabilities                          (2.9)                     (0.4)                     
 Deferred revenue                                  (1.3)                     (1.2)                     
 Provisions for liabilities                        (9.3)                     (0.1)                     
 Other long-term liabilities                       (0.7)                     (0.5)                     
                                                                                                       
                                                   (14.2)                    (2.2)                     
                                                                                                       
 Total liabilities                                 (79.8)                    (40.7)                    
                                                                                                       
 Net assets                                        183.8                     53.6                      
                                                                                                       
 Equity                                                                                                
 Share capital                                     5.7                       -                         
 Share premium account                             120.5                     55.8                      
 Other reserves                                    (6.3)                     1.3                       
 Retained earnings/(accumulated losses)            63.1                      (3.9)                     
                                                                                                       
 Equity attributable to owners of the Company      183.0                     53.2                      
                                                                                                       
 Non-controlling interests                         0.8                       0.4                       
                                                                                                       
 Total equity                                      183.8                     53.6                      
                                                                                                       
                                                                                                         
 
 
Consolidated Statement of Changes in Equity 
 
Year ended 31 December 2014 
 
                                                         Share capital    Share premium account    Shares to be issued    Other reserves    Retained earnings    Total     Non-controlling interest    Total equity  
                                                                                                                          
                                                                                                                          
                                                                                                                          
                                                         £m               £m                       £m                     £m                £m                   £m        £m                          £m            
                                                                                                                                                                                                                     
 1 January 2013                                          0.1              55.6                     0.1                    1.4               (10.4)               46.8      (0.3)                       46.5          
 Profit for the year                                     -                -                        -                      -                 7.0                  7.0       (0.2)                       6.8           
 Other comprehensive income                              -                -                        -                      0.1               -                    0.1       -                           0.1           
 Issue of capital                                        -                0.1                      (0.1)                  -                 -                    -         -                           -             
 Share based payment charge                              -                -                        -                      -                 1.7                  1.7       -                           1.7           
 Adjustments arising from changes in NCI                 -                -                        -                      -                 (2.2)                (2.2)     0.9                         (1.3)         
 Treasury shares                                         -                -                        -                      (0.2)             -                    (0.2)     -                           (0.2)         
 Transfer to share premium                               (0.1)            0.1                      -                      -                 -                    -         -                           -             
 31 December 2013                                        -                55.8                     -                      1.3               (3.9)                53.2      0.4                         53.6          
                                                                                                                                                                                                                     
 Profit for the year                                     -                -                        -                      -                 52.0                 52.0      (0.2)                       51.8          
 Other comprehensive income                              -                -                        -                      (2.7)             -                    (2.7)     -                           (2.7)         
 Reclassified to income statement                        -                -                        -                      3.5               -                    3.5       -                           3.5           
 Issue of capital (net of costs)                         0.5              96.7                     -                      (0.6)             -                    96.6      -                           96.6          
 Share based payment charge                              -                -                        -                      -                 4.4                  4.4       -                           4.4           
 Tax on share options                                    -                -                        -                      -                 2.3                  2.3       -                           2.3           
 JSOP subscription                                       -                13.2                     -                      (7.9)             -                    5.3       -                           5.3           
 Exercise of JSOP awards                                 -                -                                               0.1               -                    0.1       -                           0.1           
 Adjustment arising on justeat.in                        -                -                        -                      -                 0.2                  0.2       -                           0.2           
 NCI arising on acquisitions                             -                -                        -                      -                 -                    -         0.6                         0.6           
 Bonus share issue                                       5.2              (5.2)                    -                      -                 -                    -         -                           -             
 Capital reduction                                       -                (40.0)                   -                      -                 40.0                 -         -                           -             
 Dividend for year                                       -                -                        -                      -                 (18.1)               (18.1)    -                           (18.1)        
 Forward contracts to acquire non-controlling interests  -                -                        -                      -                 (13.8)               (13.8)    -                           (13.8)        
 31 December 2014                                        5.7              120.5                    -                      (6.3)             63.1                 183.0     0.8                         183.8         
 
 
Consolidated Cash Flow Statement 
 
Year ended 31 December 2014 
 
                                                                              Notes    Year                    Year                    
                                                                                       ended 31 December2014   ended 31 December2013   
                                                                                       £m                      £m                      
                                                                                                                                       
 Net cash from operating activities                                           11       38.1                    19.2                    
                                                                                                                                       
                                                                                                                                       
 Investing activities