Metka's Financial Analysis

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1/9/2013

Critical Analysis of Financial Performance
METKA S.A. 2007-2011

Group Project for ‘Accounting & Financial Reporting’ course Professor: Mr. Apostolos Ballas
Project Team
Karathanos Panos
Korovesis Loukianos
Moutsiou Elpida
Polydoros Nikos
PT 15 YEAR 2013-2014, ATHENS 07/01/2013

TABLE OF CONTENTS

1. COMPANY’S PROFILE AND HISTORY ...................................................................... 2 2. INTERPRETING ACCOUNTING INFORMATION ........................................................ 8 3. REPORTING & INTERPRETING SALES REVENUE, RECEIVABLES AND CASH ..............13 4. REPORTING & INTERPRETING COST OF GOODS SOLD AND INVENTORY.................15 5. PROPERTY, PLANT & EQUIPMENT ........................................................................18 6. REPORTING & INTERPRETING LIABILITIES .............................................................21 7. REPORTING & INTERPRETING OWNERS’ EQUITY ...................................................24 8. STATEMENT OF CASH FLOWS ...............................................................................25 9. FINANCIAL RATIOS ANALYSIS 2007 – 2011 ............................................................26 10. CONCLUSIONS ....................................................................................................35 11. REFERENCES .......................................................................................................36 12. ANNEX: FINANCIAL STATEMENTS ........................................................................36

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1. Company’s Profile and History
METKA, from its establishment in 1962 in Nea Ionia, Volos in Central Greece, has followed a steady path of growth, with particularly dynamic development in recent years. METKA’s manufacturing plant for metal constructions commenced operation in 1964 and in 1973 the company was listed on the Athens S tock Exchange. In 1980 METKA absorbed the technical contracting firm TECHNOM S.A., further developing its capability to undertake and implement major projects. In 1989 the acquisition of Servisteel SA. took place, adding an advanced production plant for th e first phase of fabrication to the company’s existing manufacturing infrastructure. During the period of July 1998 through to January 1999, Mytilineos Holdings S.A. gradually acquired a controlling interest in the company. Following this acquisition the company’s subsequent share capital increase in December 1999 enabled METKA to further build its capability through the acquisition of stakes in established firms with complementary activities to those of METKA. During the period through to 2002 the acquisitions were completed, significantly enhancing METKA’s ability to provide a broader range of services and complete solutions in the Energy sector. In almost 50 years of operation, METKA has specialized in constructing very demanding and highvalue added projects in all three areas of activity, projects that demand the use of edge cutting technology. By continuously growing its technical know-how and organization, METKA is internationally renowned as a company in position to deliver major projects to the highest quality standards.

METKA has constantly developed its technical know-how and organizational capabilities, allowing it to successfully complete progressively more demanding projects within its selected markets of Energy, Infrastructure and Defence. Through continuous investments in its personnel and equipment METKA has consistently delivered extremely demanding projects to the highest technological standards. From relatively simple metal constructions in the early years, METKA today is an established EPC Contractor and industrial manufacturing group. In the Energy sector METKA has built on its considerable background in construction and manufacturing of equipment for power generation plants, to become a specialized EPC Contractor with proven capability in turn-key delivery of energy production...
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