Maurel & Prom :Estimated financial data for FY 2016
(Thomson Reuters ONE) -
Paris, le 23 February 2017
N°05-17
Estimated financial data for FY 2016
The Pertamina Group, through its subsidiary PIEP, acquired a 24.53% stake in the
Maurel & Prom Group's in August 2016. Since it exercised a significant influence
over M&P at the end of fiscal year 2016, PIEP must include its share of M&P's
earnings and equity in its consolidated accounts at 31 December 2016 on an
equity basis. Following the result of the public takeover bid on 9 February
2017, PIEP owns 72.65% of M&P.
The two groups have different reporting schedules for their 2016 accounts:
PIEP's 2016 accounts will be published on 28 February 2017, that is to say
before the 2016 accounts are approved and published for M&P and SEPLAT, which is
21.37%-owned by M&P.
During its meeting on 22 February 2017, after reviewing the estimated financial
data for the year ended 31 December 2016 and consulting with the audit committee
on the same day, M&P's Board of Directors decided to communicate on these
estimated data with the market.
These data:
* have been estimated based on the information known to date;
* have been prepared in accordance with the M&P Group's accounting methods and
rules and the French financial markets authority (AMF) recommendation
no.2004-04 regarding the reporting of estimated financial data;
* are presented in the summary reporting format required by PIEP, within which
the main aggregates are not significantly different from those usually
reported by M&P;
* comprise (i) a balance sheet at 31 December 2016 with comparative data at
31 December 2015, (ii) a profit and loss statement covering the period from
1 January to 31 December 2016 and a comparative profit and loss for FY 2015.
These data are subject to change due to the final net result of SEPLAT or the
ongoing audit work. The definitive accounts of Maurel & Prom will be approved by
its Board of Directors on 31 March 2017.
It is important to note that SEPLAT's contribution has been estimated based on
data published and available on the company website, extrapolating its earnings
at 30 September 2016 over 12 months.
ESTIMATIVE STATEMENTS OF FINANCIAL POSITION
DEC
in million ? DEC 2016 (*)
2015 (*)
--------------------------
Cash and cash equivalents 193 282
Account receivables 31 25
Inventories 9 12
Due from the Government - current 29 77
Other receivables - current 113 72
Total Current Assets 374 468
Other receivables - non current 78 5
Deferred tax assets 30 31
Due from the Government - non current 39 0
Equity Associates 92 126
Tangible and Intangible assets 1 783 1 823
Total Non Current Assets 2 022 1 985
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TOTAL ASSETS 2 396 2 453
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Account payables 50 65
Other payables 63 60
Due to the Government 29 30
Other provision - current 20 2
Other bank Borrowing - current 93 11
Bond payables - current 7 18
Total Current Liabilities 262 186
Bond payables - non current 346 332
Other bank Borrowing - non current 290 394
Deferred tax liabilities 378 382
Employee benefit liabilities 1 1
Other provision - non current 7 16
Provision for site restoration 39 41
Total Non Current Liabilities 1 061 1 166
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TOTAL LIABILITIES 1 323 1 352
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Share capital 150 150
Additional paid-in capital 80 291
Other equity components 844 661
Non-controlling interest -1 -1
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TOTAL EQUITIES 1 073 1 101
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(*) The 2016 accounts are estimated and under audit. The comparative figures for
2015 are extracted from the published and audited accounts, presented in the
form of the synthetic reporting required by PIEP.
ESTIMATIVE STATEMENTS OF COMPREHENSIVE INCOME
in million ? 2016(*) 2015(*)
----------------
Sales and other operating revenues 318 288
Cost of goods sold & General and administrative expenses -303 -280
Exploration costs -6 -125
Other non-recurrent income/(expenses) - net 6 92
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OPERATING PROFIT/(LOSS) 15 -25
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Finance (costs) - net -34 -34
Foreign exchange gain/(loss) - net 4 27
Income tax expense/(benefit) -9 32
Share in income/(loss) of associates -25 -95
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PROFIT/(LOSS) -49 -95
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Exchange differences on translating foreign operations 19 111
Cash flow hedges 0 -3
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Total other comprehensive income for the year - net after tax 19 108
------------------------------------------------------------------------------
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TOTAL COMPREHENSIVE INCOME/(LOSS) -30 13
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(*) The 2016 accounts are estimated and under audit. The comparative figures for
2015 are extracted from the published and audited accounts, presented in the
form of the synthetic reporting required by PIEP.
For more information, go to www.maureletprom.fr
MAUREL & PROM
Tel: +33 (0)1 53 83 16 00
Press, shareholders, and investor relations
Tel: +33 (0)1 53 83 16 45
ir(at)maureletprom.fr
This document may contain forward-looking statements regarding the financial
position, results, business and industrial strategy of Maurel & Prom. By nature,
forward-looking statements contain risks and uncertainties to the extent that
they are based on events or circumstances that may or may not happen in the
future. These projections are based on assumptions we believe to be reasonable,
but which may prove to be incorrect and which depend on a number of risk
factors, such as fluctuations in crude oil prices, changes in exchange rates,
uncertainties related to the valuation of our oil reserves, actual rates of oil
production and the related costs, operational problems, political stability,
legislative or regulatory reforms, or even wars, terrorism and sabotage.
Maurel & Prom is listed for trading on Euronext Paris
CAC® mid 60 - SBF120® - CAC® Mid & Small - CAC® All-Tradable - CAC® All-Share -
CAC PME - EnterNext(©) PEA-PME 150
ISIN FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA
FINANCE_MAU_23FEV17_EN.pdf:
http://hugin.info/155421/R/2081352/783949.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Maurel & Prom via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 23.02.2017 - 07:40 Uhr
Sprache: Deutsch
News-ID 525961
Anzahl Zeichen: 10608
contact information:
Town:
Paris
Kategorie:
Business News
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