Coca-Cola HBC at a glance

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Coca-Cola HBC at a glance"

Transcription

1

2 Disclaimer 2 Unless otherwise indicated, the condensed consolidated financial statements and the financial and operating data or other information included herein relate to Coca-Cola HBC AG and its subsidiaries ( Coca-Cola HBC or the Company or we or the Group ). This document contains forward-looking statements that involve risks and uncertainties. These statements may generally, but not always, be identified by the use of words such as believe, outlook, guidance, intend, expect, anticipate, plan, target and similar expressions to identify forward-looking statements. All statements other than statements of historical facts, including, among others, statements regarding our future financial position and results, our outlook for 2014 and future years, business strategy and the effects of the global economic slowdown, the impact of the sovereign debt crisis, currency volatility, our recent acquisitions, and restructuring initiatives on our business and financial condition, our future dealings with The Coca-Cola Company, budgets, projected levels of consumption and production, projected raw material and other costs, estimates of capital expenditure, free cash flow, effective tax rates and plans and objectives of management for future operations, are forward-looking statements. You should not place undue reliance on such forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect our current expectations and assumptions as to future events and circumstances that may not prove accurate. Our actual results and events could differ materially from those anticipated in the forward-looking statements for many reasons, including the risks described in the annual report on Form 20-F filed with the U.S. Securities and Exchange Commission (File No ) for Coca-Cola Hellenic Bottling Company S.A. and its subsidiaries for the year ended 31 December Although we believe that, as of the date of this document, the expectations reflected in the forward-looking statements are reasonable, we cannot assure you that our future results, level of activity, performance or achievements will meet these expectations. Moreover, neither we, nor our directors, employees, advisors nor any other person assumes responsibility for the accuracy and completeness of the forwardlooking statements. After the date of the condensed consolidated financial statements included in this document, unless we are required by law or the rules of the UK Financial Conduct Authority to update these forward-looking statements, we will not necessarily update any of these forward-looking statements to conform them either to actual results or to changes in our expectations.

3 Overview

4 4 Coca-Cola HBC at a glance 7 billion revenues Ten consecutive quarters of currency neutral revenue per case growth (as at Q4 2013) 2.1 billion unit cases sold 50 billion servings per annum 28 countries of operation over 3 continents with significant exposure in emerging markets 585 million population # 1 in Sparkling Beverages 38,089 employees growing on average at c.1% per annum in 23 out of 24 markets 68 plants in operation and 324 warehouses and distribution centres Source: FY2013 data unless otherwise stated; Nielsen market share data 4

5 Key milestones video 5 5

6 A diverse and balanced portfolio 6 Emerging markets Developing markets Czech Republic, Croatia, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, Slovenia Armenia, Belarus, Bosnia and Herzegovina, Bulgaria, FYROM, Moldova, Montenegro, Nigeria, Romania, Russia, Serbia, Ukraine Population: 417 million GDP/capita: US$ 7,186 Population: 77 million GDP/capita: US$ 14,854 Established markets Austria, Cyprus, Greece, Italy, Northern Ireland, Republic of Ireland, Switzerland Population: 91 million GDP/capita: US$ 36, breakdown Total Volume unit cases 32% 18% 50% 2,061m Net sales revenue 37% 16% 47% 6,874m Comparable EBIT 33% 9% 58% 454m 6

7 7 Financial highlights Net sales revenue by segment Volume in million unit cases Reported NSR per unit case in Euros 6,544 6,762 6,824 7,045 6,874 2,928 2,862 2,835 2,702 2,540 2,069 2,105 2,087 2,085 2, ,149 1,140 1,162 1,148 1,106 2,467 2,760 2,828 3,195 3, Emerging Developing Established Gross profit margin 40.3% 40.4% 37.7% 35.9% 35.5% OPEX as a % of revenue 30.4% 30.3% 30.0% 29.4% 28.9% Comparable EBIT and EBIT margin 9.9% 10.1% 7.7% 6.4% 6.6% All numbers in million Euros unless otherwise stated 7

8 The opportunity we see 8 Business growth Per capita development Margin leverage Revenue growth management Market share growth Operational cost control Emerging markets exposure Infrastructure rationalisation and logistics optimisation SAP W2 exploitation and Shared Services Revenue-generating capital expenditure 8

9 Nigeria Ukraine Egypt Coca- Cola HBC Russia Italy Greece France Romania Poland Serbia & Montenegro Europe average (38 countries) Switzerland Austria Spain Great Britain Belgium Germany United States Mexico 9 Diverse footprint with attractive long-term potential 2013 Total sparkling category servings per capita Developing Established Emerging Per capita consumption: Average number of 237ml or 8oz servings consumed per person per year in a specific market. Coca-Cola Hellenic s per capita consumption is calculated by multiplying our unit case volume by 24 and dividing by the population. Source: The Coca-Cola Company, 2013 data 9

10 Driving revenue ahead of volume 10 Package mix Channel mix Single-serve 39% Multi-serve 61% Immediate consumption 31% Future consumption 69% RTD Tea, 4.8% Category mix Energy drinks, 0.7% Other still, 0.7% Pricing opportunities Juice, 6.0% Low calorie sparkling beverages, 6.2% Water, 18.5% Sparkling beverages, 63.1% 10

11 Strategy

12 12 Deploying initiatives to win in the marketplace Right Execution Daily RED 12

13 Winning in the marketplace % % % -2.3 Coca-Cola HBC share in sparkling Biggest competitor share in sparkling Private label share in sparkling 18 % % % -2.1 Coca-Cola HBC share in NARTD Biggest competitor share in NARTD Private label share in NARTD Source: Nielsen 2013 market share data; company analysis NARTD: Non-alcoholic ready-to-drink 13

14 Growing revenue ahead of volume 14 Delivered currency-neutral net sales revenue per case growth for 10 consecutive quarters Implemented OBPPC architecture to ensure relevance to the consumer Recovering economies expected to present pricing opportunities Occasion Brands Packages Prices Channel 14

15 15 Common platform and end-to-end standard processes Common strategy and values Leveraging scale and synergies Sharpening customer focus Business Standardization Sharing knowledge Reducing cost Developing talent 15

16 Committing to cost leadership 16 Infrastructure optimisation Number of plants -32% since 2008 in the Established and Developing segments Operational control OpEx reduction -190 bps as % of NSR, since 2008 Number of distribution centres -9% since 2008 Number of warehouses -16% since

17 Generating free cash flow 17 Working capital Bolt-on acquisitions Negative year-end position Capital expenditure of local brands mainly in still drinks Strong balance sheet Returning cash to shareholders % of NSR Net Debt to Comp. EBITDA at 1.9x Source: FY2013 data unless otherwise stated 17

18 The Best is Yet to Come! 18 We have medium to long-term opportunities volume and revenue growth improvement in the cost structure We are executing well in every area where we have control Our current platform is more efficient than in peak margin years and should ensure that volume growth in the future adds momentum to margin expansion The initiatives we have in place, combined with the potential for volume momentum, give us confidence that the best is yet to come! 18

19

IFRS Results for the three months ended 2 April Results Presentation 29 April 2010

IFRS Results for the three months ended 2 April Results Presentation 29 April 2010 IFRS Results for the three months ended 2 April 2010 Results Presentation 29 April 2010 1 Disclaimer The information contained herein includes forward-looking statements which are based on current expectations

More information

Spain France. England Netherlands. Wales Ukraine. Republic of Ireland Czech Republic. Romania Albania. Serbia Israel. FYR Macedonia Latvia

Spain France. England Netherlands. Wales Ukraine. Republic of Ireland Czech Republic. Romania Albania. Serbia Israel. FYR Macedonia Latvia Germany Belgium Portugal Spain France Switzerland Italy England Netherlands Iceland Poland Croatia Slovakia Russia Austria Wales Ukraine Sweden Bosnia-Herzegovina Republic of Ireland Czech Republic Turkey

More information

Results for the Three Months Ended April 1, 2005 (US GAAP)

Results for the Three Months Ended April 1, 2005 (US GAAP) Armenia, Austria, Belarus, Bosnia & Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia FYROM, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Moldova, Nigeria, Northern Ireland, Poland, Romania,

More information

Results for the Six Months Ended July 1, 2005 (US GAAP)

Results for the Six Months Ended July 1, 2005 (US GAAP) Armenia, Austria, Belarus, Bosnia & Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia FYROM, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Moldova, Nigeria, Northern Ireland, Poland, Romania,

More information

Slovenia Country Profile

Slovenia Country Profile Slovenia Country Profile EU Tax Centre July 2015 Key tax factors for efficient cross-border business and investment involving Slovenia EU Member State Double Tax Treaties With: Albania Armenia Austria

More information

Slovakia Country Profile

Slovakia Country Profile Slovakia Country Profile EU Tax Centre July 2016 Key tax factors for efficient cross-border business and investment involving Slovakia EU Member State Double Tax Treaties Yes With: Australia Austria Belarus

More information

11 th Economic Trends Survey of the Impact of Economic Downturn

11 th Economic Trends Survey of the Impact of Economic Downturn 11 th Economic Trends Survey 11 th Economic Trends Survey of the Impact of Economic Downturn 11 th Economic Trends Survey COUNTRY ANSWERS Austria 155 Belgium 133 Bulgaria 192 Croatia 185 Cyprus 1 Czech

More information

InnovFin SME Guarantee

InnovFin SME Guarantee InnovFin SME Guarantee Implementation Update Reporting date: 30/09/2017 Disclaimer This presentation contains general information about the implementation results of InnovFin SME Guarantee, a facility

More information

Enterprise Europe Network SME growth forecast

Enterprise Europe Network SME growth forecast Enterprise Europe Network SME growth forecast 2017-18 een.ec.europa.eu Foreword Since we came into office three years ago, this European Commission has put the creation of more jobs and growth at the centre

More information

Coach Plus Breakdown Insurance

Coach Plus Breakdown Insurance 1 Coach Plus Breakdown Insurance Specialist cover for UK and Europe Coach Plus Breakdown Annual Multi-trip Insurance 2018 Underwriting Guide - valid from 1st January 2018 Travel must take place within

More information

Performance of Private Equity Funds in Central and Eastern Europe and the CIS Data to 31 December 2008

Performance of Private Equity Funds in Central and Eastern Europe and the CIS Data to 31 December 2008 Performance of Private Equity Funds in Central and Eastern Europe and the CIS Data to 31 December 2008 1 EBRD in Private Equity EBRD s portfolio of funds: over 15 years of investing in the asset class

More information

Consumer Credit. Introduction. June, the 6th (2013)

Consumer Credit. Introduction. June, the 6th (2013) Consumer Credit in Europe at end-2012 Introduction Crédit Agricole Consumer Finance has published its annual survey of the consumer credit market in 27 European Union countries (EU-27) for the sixth year

More information

Long Term Reform Agenda International Perspective

Long Term Reform Agenda International Perspective Long Term Reform Agenda International Perspective Asta Zviniene Sr. Social Protection Specialist Human Development Department Europe and Central Asia Region World Bank October 28 th, 2010 We will look

More information

Borderline cases for salary, social contribution and tax

Borderline cases for salary, social contribution and tax Version Abstract 1 (5) 2015-04-21 Veronica Andersson Salary and labour cost statistics Borderline cases for salary, social contribution and tax (Workshop on Labour Cost Survey, Rome, Italy 5-6 May 2015)

More information

THE INVERTING PYRAMID: DEMOGRAPHIC CHALLENGES TO THE PENSION SYSTEMS IN EUROPE AND CENTRAL ASIA

THE INVERTING PYRAMID: DEMOGRAPHIC CHALLENGES TO THE PENSION SYSTEMS IN EUROPE AND CENTRAL ASIA THE INVERTING PYRAMID: DEMOGRAPHIC CHALLENGES TO THE PENSION SYSTEMS IN EUROPE AND CENTRAL ASIA 1 Anita M. Schwarz Lead Economist Human Development Department Europe and Central Asia Region World Bank

More information

IAB Europe AdEx Benchmark 2014

IAB Europe AdEx Benchmark 2014 IAB Europe AdEx Benchmark 2014 About the study A meta analysis of online ad spend in Europe GROSS NET RATECARD Revenue Billed Revenue Billed No Agency commissions Campaigns x Ratecard Submissions from

More information

Quarterly Gross Domestic Product of Montenegro 3 rd quarter 2017

Quarterly Gross Domestic Product of Montenegro 3 rd quarter 2017 MONTENEGRO STATISTICAL OFFICE R E L E A S E No: 224 Podgorica, 22 December 2017 When using the data, please name the source Quarterly Gross Domestic Product of Montenegro 3 rd quarter 2017 The release

More information

Live Long and Prosper? Demographic Change and Europe s Pensions Crisis. Dr. Jochen Pimpertz Brussels, 10 November 2015

Live Long and Prosper? Demographic Change and Europe s Pensions Crisis. Dr. Jochen Pimpertz Brussels, 10 November 2015 Live Long and Prosper? Demographic Change and Europe s Pensions Crisis Dr. Jochen Pimpertz Brussels, 10 November 2015 Old-age-dependency ratio, EU28 45,9 49,4 50,2 39,0 27,5 31,8 2013 2020 2030 2040 2050

More information

Coca-Cola Enterprises and The Coca-Cola Company Strategically Advance and Strengthen their Partnership. February 25, 2010

Coca-Cola Enterprises and The Coca-Cola Company Strategically Advance and Strengthen their Partnership. February 25, 2010 Coca-Cola Enterprises and The Coca-Cola Company Strategically Advance and Strengthen their Partnership February 25, 2010 Information & Forward-Looking Statements FORWARD-LOOKING STATEMENTS Included in

More information

Finland Country Profile

Finland Country Profile Finland Country Profile EU Tax Centre July 2016 Key tax factors for efficient cross-border business and investment involving Finland EU Member State Double Tax Treaties With: Argentina Armenia Australia

More information

Serbia Country Profile

Serbia Country Profile Serbia Country Profile EU Tax Centre July 2015 Key tax factors for efficient cross-border business and investment involving Serbia EU Member State Double Tax Treaties With: Albania Austria Azerbaijan Belarus

More information

Entitlement to NHS Hospital Treatment for Non-Resident UK Citizens

Entitlement to NHS Hospital Treatment for Non-Resident UK Citizens Entitlement to NHS Hospital Treatment for Non-Resident UK Citizens Entitlement to Free NHS Hospital Treatment by Non-Resident UK Citizens This leaflet has been compiled to explain the entitlement requirements

More information

Guide to Treatment of Withholding Tax Rates. January 2018

Guide to Treatment of Withholding Tax Rates. January 2018 Guide to Treatment of Withholding Tax Rates Contents 1. Introduction 1 1.1. Aims of the Guide 1 1.2. Withholding Tax Definition 1 1.3. Double Taxation Treaties 1 1.4. Information Sources 1 1.5. Guide Upkeep

More information

Consumer credit market in Europe 2013 overview

Consumer credit market in Europe 2013 overview Consumer credit market in Europe 2013 overview Crédit Agricole Consumer Finance published its annual survey of the consumer credit market in 28 European Union countries for seven years running. 9 July

More information

Why Invest In Emerging Markets? Why Now?

Why Invest In Emerging Markets? Why Now? Why Invest In Emerging Markets? Why Now? 2017 Over the long term, Emerging Markets (EM) have been a winning alternative compared to traditional Developed Markets (DM)... 350 300 250 200 150 100 50 1997

More information

Financial wealth of private households worldwide

Financial wealth of private households worldwide Economic Research Financial wealth of private households worldwide Munich, October 217 Recovery in turbulent times Assets and liabilities of private households worldwide in EUR trillion and annualrate

More information

June 2014 Euro area international trade in goods surplus 16.8 bn 2.9 bn surplus for EU28

June 2014 Euro area international trade in goods surplus 16.8 bn 2.9 bn surplus for EU28 127/2014-18 August 2014 June 2014 Euro area international trade in goods surplus 16.8 bn 2.9 bn surplus for EU28 The first estimate for the euro area 1 (EA18) trade in goods balance with the rest of the

More information

Some Historical Examples of Yield Curves

Some Historical Examples of Yield Curves 3 months 6 months 1 year 2 years 5 years 10 years 30 years Some Historical Examples of Yield Curves Nominal interest rate, % 16 14 12 10 8 6 4 2 January 1981 June1999 December2009 0 Time to maturity This

More information

Why Invest In Emerging Markets? Why Now?

Why Invest In Emerging Markets? Why Now? Why Invest In Emerging Markets? Why Now? 2018 Over the long term, Emerging Markets (EM) have been a winning alternative compared to traditional Developed Markets (DM)... 350 300 250 200 150 100 50 1998

More information

Cyprus New Double Tax Treaties Become Effective

Cyprus New Double Tax Treaties Become Effective Seize the advantage of our expertise Cyprus New Double Tax Treaties Become Effective Cyprus Double Tax Treaty (DTT) network has been expanded with four new agreements with Lithuania, Norway, Spain and

More information

Czech Republic Country Profile

Czech Republic Country Profile Czech Republic Country Profile EU Tax Centre June 2017 Key tax factors for efficient cross-border business and investment involving Czech Republic EU Member State Yes Double Tax Treaties With: Albania

More information

Poland Country Profile

Poland Country Profile Poland Country Profile EU Tax Centre June 2017 Key tax factors for efficient cross-border business and investment involving Poland EU Member State Yes Double Tax Treaties With: Albania Algeria Armenia

More information

PEUGEOT OPEN EUROPE Assistance 24/24 7/7 From France: From abroad:

PEUGEOT OPEN EUROPE Assistance 24/24 7/7 From France: From abroad: IN AN EMERGENCY / 2017 PEUGEOT OPEN EUROPE Assistance 24/24 7/7 From France: 01 47 89 24 24 From abroad: +33 1 47 89 24 24 contents / 2017 WHAT TO DO IN CASE OF BREAKDOWN, ACCIDENT, THEFT OR VANDALISM?--------------

More information

DPD CLASSIC (Slovenia) Slovenia 6,00 7,00 10,00 11,00 12,00 13,00 14,00 16,00 18,00 DPD CLASSIC - PARCEL DELIVERY TO THE EU

DPD CLASSIC (Slovenia) Slovenia 6,00 7,00 10,00 11,00 12,00 13,00 14,00 16,00 18,00 DPD CLASSIC - PARCEL DELIVERY TO THE EU Parcel delivery in Slovenia DPD CLASSIC (Slovenia) Area up to up to up to up to 1 up to up to 2 up to 31. up to 40 kg up to 50 kg Slovenia 6,00 7,00 10,00 11,00 12,00 13,00 14,00 18,00 Prices are in EUR

More information

Czech Republic Country Profile

Czech Republic Country Profile Czech Republic Country Profile EU Tax Centre July 2016 Key tax factors for efficient cross-border business and investment involving Czech Rep. EU Member State Yes Double Tax With: Treaties Albania Armenia

More information

Paid from Cyprus Divident (1) % Interest (1) %

Paid from Cyprus Divident (1) % Interest (1) % Tax treaties withholding tax tables The following tables give a summary of the withholding taxes provided by the double tax treaties entered into by Cyprus. Paid from Cyprus Divident Interest Royalties

More information

Statistics Brief. Inland transport infrastructure investment on the rise. Infrastructure Investment. August

Statistics Brief. Inland transport infrastructure investment on the rise. Infrastructure Investment. August Statistics Brief Infrastructure Investment August 2017 Inland transport infrastructure investment on the rise After nearly five years of a downward trend in inland transport infrastructure spending, 2015

More information

Building the expert platform for Asian investments. asiafundmanagers.com

Building the expert platform for Asian investments. asiafundmanagers.com Building the expert platform for Asian investments 1 There is a gap of 9 trn. USD 9 21 trn. USD if allocated to world GDP** 12trn. USD today* trn. USD * 17,29 percent of world equity market cap (MSCI,

More information

we ve come a long way......we see

we ve come a long way......we see we ve come a long way......we see the way forward table of contents SHORT PROFILE / FINANCIAL HIGHLIGHTS COCACOLA HBC AT A GLANCE CHAIRMAN S LETTER MANAGING DIRECTOR S LETTER STRATEGY AND EXECUTION OPERATING

More information

Tax Survey Effective tax ratesof employees with different income levels in 25countries. Ivan Fučík. Fučík & partners, Prague, Czech Republic

Tax Survey Effective tax ratesof employees with different income levels in 25countries. Ivan Fučík. Fučík & partners, Prague, Czech Republic Tax Survey 2012 Effective tax ratesof employees with different income levels in 25countries Ivan Fučík Fučík & partners, Prague, Czech Republic E-mail: ivan@fucik.cz www.fucik.cz Content Introduction of

More information

May 2012 Euro area international trade in goods surplus of 6.9 bn euro 3.8 bn euro deficit for EU27

May 2012 Euro area international trade in goods surplus of 6.9 bn euro 3.8 bn euro deficit for EU27 108/2012-16 July 2012 May 2012 Euro area international trade in goods surplus of 6.9 3.8 deficit for EU27 The first estimate for the euro area 1 (EA17) trade in goods balance with the rest of the world

More information

Total Imports by Volume (Gallons per Country)

Total Imports by Volume (Gallons per Country) 10/5/2017 Imports by Volume (Gallons per Country) YTD YTD Country 08/2016 08/2017 % Change 2016 2017 % Change MEXICO 51,349,849 67,180,788 30.8 % 475,806,632 503,129,061 5.7 % NETHERLANDS 12,756,776 12,954,789

More information

Macroeconomic overview SEE and Macedonia

Macroeconomic overview SEE and Macedonia Macroeconomic overview SEE and Macedonia Zoltan Arokszallasi Chief Analyst, Macro & FX/FI Research Erste Group Bank Erste Investors Breakfast, 29 September, Skopje 02. Oktober SEE shows mixed performance

More information

Lithuania Country Profile

Lithuania Country Profile Lithuania Country Profile EU Tax Centre June 2017 Key tax factors for efficient cross-border business and investment involving Lithuania EU Member State Yes Double Tax Treaties With: Armenia Austria Azerbaijan

More information

June 2012 Euro area international trade in goods surplus of 14.9 bn euro 0.4 bn euro surplus for EU27

June 2012 Euro area international trade in goods surplus of 14.9 bn euro 0.4 bn euro surplus for EU27 121/2012-17 August 2012 June 2012 Euro area international trade in goods surplus of 14.9 0.4 surplus for EU27 The first estimate for the euro area 1 (EA17) trade in goods balance with the rest of the world

More information

Refreshing business Integrated Annual Report

Refreshing business Integrated Annual Report Refreshing business 2015 Integrated Annual Report About us 2015 has been an important year for us. We are pleased to have achieved strong results, with volume growth and a significant improvement in margins.

More information

August 2012 Euro area international trade in goods surplus of 6.6 bn euro 12.6 bn euro deficit for EU27

August 2012 Euro area international trade in goods surplus of 6.6 bn euro 12.6 bn euro deficit for EU27 146/2012-16 October 2012 August 2012 Euro area international trade in goods surplus of 6.6 12.6 deficit for EU27 The first estimate for the euro area 1 (EA17) trade in goods balance with the rest of the

More information

Total Imports by Volume (Gallons per Country)

Total Imports by Volume (Gallons per Country) 1/5/2018 Imports by Volume (Gallons per Country) YTD YTD Country 11/2016 11/2017 % Change 2016 2017 % Change MEXICO 50,994,409 48,959,909 (4.0)% 631,442,105 657,851,150 4.2 % NETHERLANDS 9,378,351 11,903,919

More information

Export and import operations Tax & Legal, April 2017

Export and import operations Tax & Legal, April 2017 Export and import operations Tax & Legal, April 2017 Export and import operations Tax & Legal, April 2017 Effective trading operations in Uzbekistan Today Uzbekistan actively develops international trading.

More information

EU Investment Plan for Europe EBRD as a partner in implementation. Zsuzsanna Hargitai, Director, EU Funds Co-Financing & Financial Instruments, EBRD

EU Investment Plan for Europe EBRD as a partner in implementation. Zsuzsanna Hargitai, Director, EU Funds Co-Financing & Financial Instruments, EBRD EU Investment Plan for Europe EBRD as a partner in implementation Zsuzsanna Hargitai, Director, EU Funds Co-Financing & Financial Instruments, EBRD Brussels, 8 February 2017 Some distinctive features of

More information

Audit guidelines Mini One-Stop Shop for telecom, broadcasting and electronic services

Audit guidelines Mini One-Stop Shop for telecom, broadcasting and electronic services 24 June 2014 Indirect Tax Alert VAT no. 524 Audit guidelines Mini One-Stop Shop for telecom, broadcasting and electronic services Audit guidelines Mini One-Stop Shop for telecom, broadcasting and electronic

More information

Gerry Weber International AG

Gerry Weber International AG The German Tax Agency (the BZSt) offers an electronic tax relief program (the DTV) designed to facilitate and accelerate German tax reclaims on equities by financial institutions. Acupay provides custodian

More information

Malta s Double Tax Treaties

Malta s Double Tax Treaties Malta s Double Tax Treaties November 216 In order to encourage the growth of international trade including that of financial services, successive Maltese governments have sought to conclude double tax

More information

Malta s Double Tax Treaties

Malta s Double Tax Treaties Malta s Double Treaties February 216 In order to encourage the growth of international trade including that of financial services, successive Maltese governments have sought to conclude double tax treaties

More information

[1.1] [Takko Unaudited Interim Report FY Q2.pdf] [Page 1 of 42] UNAUDITED INTERIM REPORT

[1.1] [Takko Unaudited Interim Report FY Q2.pdf] [Page 1 of 42] UNAUDITED INTERIM REPORT [1.1] [Takko Unaudited Interim Report FY2017-18 Q2.pdf] [Page 1 of 42] UNAUDITED INTERIM REPORT Q2 2017 / 2018 Overview & figures in EUR k 1 May 2017 1 May 2016 1 Feb 2017 1 Feb 2016 304,424 296,923 545,405

More information

Belgium Country Profile

Belgium Country Profile Belgium Country Profile EU Tax Centre July 2016 Key tax factors for efficient cross-border business and investment involving Belgium EU Member State Double Tax Treaties Yes With: Albania Algeria Argentina

More information

Understanding Electricity & Gas Prices in Ireland 1 ST SEMESTER (JANUARY JUNE) 2009

Understanding Electricity & Gas Prices in Ireland 1 ST SEMESTER (JANUARY JUNE) 2009 Understanding Electricity & Gas Prices in Ireland 1 ST SEMESTER (JANUARY JUNE) 2009 Understanding Electricity & Gas Prices in Ireland 1 st Semester (January June) 2009 Report prepared by Martin Howley,

More information

PUBLIC PROCUREMENT INDICATORS 2011, Brussels, 5 December 2012

PUBLIC PROCUREMENT INDICATORS 2011, Brussels, 5 December 2012 PUBLIC PROCUREMENT INDICATORS 2011, Brussels, 5 December 2012 1. INTRODUCTION This document provides estimates of three indicators of performance in public procurement within the EU. The indicators are

More information

Reasons to Believe IR OVERVIEW 2014

Reasons to Believe IR OVERVIEW 2014 Reasons to Believe IR OVERVIEW 2014 2 Forward-Looking Statements This presentation may contain statements, estimates or projections that constitute forward-looking statements as defined under U.S. federal

More information

Tax Card KPMG in Bulgaria. kpmg.com/bg

Tax Card KPMG in Bulgaria. kpmg.com/bg Tax Card 2017 KPMG in Bulgaria kpmg.com/bg CORPORATE TAX Corporate income tax (CIT) is due on the accounting profit after adjustments for tax purposes. The applicable tax rate for the year 2017 is 10%.

More information

SHARE IN OUR FUTURE AN ADVENTURE IN EMPLOYEE STOCK OWNERSHIP DEBBI MARCUS, UNILEVER

SHARE IN OUR FUTURE AN ADVENTURE IN EMPLOYEE STOCK OWNERSHIP DEBBI MARCUS, UNILEVER SHARE IN OUR FUTURE AN ADVENTURE IN EMPLOYEE STOCK OWNERSHIP DEBBI MARCUS, UNILEVER DEBBI.MARCUS@UNILEVER.COM RUTGERS SCHOOL OF MANAGEMENT AND LABOR RELATIONS NJ/NY CENTER FOR EMPLOYEE OWNERSHIP AGENDA

More information

IN AN EMERGENCY / 2016

IN AN EMERGENCY / 2016 PEUGEOT OPEN EUROPE Assistance 24/24 7/7 From France: 01 47 89 24 24 From abroad: +33 1 47 89 24 24 IN AN EMERGENCY / 2016 www.peugeot-openeurope.com CONTENTS / 2016 WHAT TO DO IN CASE OF BREAKDOWN, ACCIDENT,

More information

IN AN EMERGENCY / 2016

IN AN EMERGENCY / 2016 PEUGEOT OPEN EUROPE Assistance 24/24 7/7 From France: 01 47 89 24 24 From abroad: +33 1 47 89 24 24 IN AN EMERGENCY / 2016 www.peugeot-openeurope.com CONTENTS / 2016 WHAT TO DO IN CASE OF BREAKDOWN, ACCIDENT,

More information

Electricity & Gas Prices in Ireland. Annex Business Electricity Prices per kwh 2 nd Semester (July December) 2016

Electricity & Gas Prices in Ireland. Annex Business Electricity Prices per kwh 2 nd Semester (July December) 2016 Electricity & Gas Prices in Ireland Annex Business Electricity Prices per kwh 2 nd Semester (July December) 2016 ENERGY POLICY STATISTICAL SUPPORT UNIT 1 Electricity & Gas Prices in Ireland Annex Business

More information

Public Pension Spending Trends and Outlook in Emerging Europe. Benedict Clements Fiscal Affairs Department International Monetary Fund March 2013

Public Pension Spending Trends and Outlook in Emerging Europe. Benedict Clements Fiscal Affairs Department International Monetary Fund March 2013 Public Pension Spending Trends and Outlook in Emerging Europe Benedict Clements Fiscal Affairs Department International Monetary Fund March 13 Plan of Presentation I. Trends and drivers of public pension

More information

1.1. STOXX TOTAL MARKET INDICES

1.1. STOXX TOTAL MARKET INDICES 1. BROAD TOTAL MARKET INDICES/BENCHMARK INDICES, EQUAL WEIGHT INDICES 1/15 1.1. STOXX TOTAL MARKET INDICES Regional indices STOXX BRIC TMI STOXX Developed and Emerging Markets TMI STOXX Developed Markets

More information

ACCIDENT INVESTIGATION AND PREVENTION (AIG) DIVISIONAL MEETING (2008)

ACCIDENT INVESTIGATION AND PREVENTION (AIG) DIVISIONAL MEETING (2008) International Civil Aviation Organization AIG/08-WP/36 5/9/08 WORKING PAPER ACCIDENT INVESTIGATION AND PREVENTION (AIG) DIVISIONAL MEETING (2008) Montréal, 13 to 18 October 2008 Agenda Item 6: Regional

More information

Quarterly Financial Accounts Household net worth reaches new peak in Q Irish Household Net Worth

Quarterly Financial Accounts Household net worth reaches new peak in Q Irish Household Net Worth Quarterly Financial Accounts Q4 2017 4 May 2018 Quarterly Financial Accounts Household net worth reaches new peak in Q4 2017 Household net worth rose by 2.1 per cent in Q4 2017. It now exceeds its pre-crisis

More information

Spain Country Profile

Spain Country Profile Spain Country Profile EU Tax Centre July 2016 Key tax factors for efficient cross-border business and investment involving Spain EU Member State Double Tax Treaties With: Albania Algeria Andorra Argentina

More information

Alter Domus IRELAND WE RE WHERE YOU NEED US.

Alter Domus IRELAND WE RE WHERE YOU NEED US. WE RE WHERE YOU NEED US. Alter Domus is a fully integrated Fund and Corporate services provider, dedicated to international private equity & infrastructure houses, real estate firms, multinationals, private

More information

MADE TO TRADE. Goldman Sachs 18 th Annual Global Retailing Conference. Dr Eckhard Cordes, CEO 8 September 2011 METRO AG 2011

MADE TO TRADE. Goldman Sachs 18 th Annual Global Retailing Conference. Dr Eckhard Cordes, CEO 8 September 2011 METRO AG 2011 MADE TO TRADE. Goldman Sachs 18 th Annual Global Retailing Conference Dr Eckhard Cordes, CEO 8 September 2011 METRO AG 2011 Disclaimer and Notes To the extent that statements in this presentation do not

More information

Development Education Partnership Fair

Development Education Partnership Fair Development Education Partnership Fair Evaluation from Questionnaires Participants: Old Member States: part. New Member States: 9 part. Ro/Bg: 9 part. Resource persons: part. All together: 9 conference

More information

Retail Banking - Building a Growth Machine. By Aris Bogdaneris Board Member RI Group. The Current Environment. Slide 1. Slide 2

Retail Banking - Building a Growth Machine. By Aris Bogdaneris Board Member RI Group. The Current Environment. Slide 1. Slide 2 Retail Banking Building a Growth Machine By Aris Bogdaneris Board Member RI Group Slide 1 Capital Markets Day, September 2008 The Current Environment Slide 2 Capital Markets Day, September 2008 Investor

More information

Montenegro Country Profile

Montenegro Country Profile Montenegro Country Profile EU Tax Centre June 2017 Key tax factors for efficient cross-border business and investment involving Montenegro EU Member State (EU candidate) Double Tax Treaties With: Albania

More information

Norway Serving 1 million outlets, across 13 countries, so over 300 million consumers can access and enjoy our drinks. READY-TO-DRINK TEA & COFFEE

Norway Serving 1 million outlets, across 13 countries, so over 300 million consumers can access and enjoy our drinks. READY-TO-DRINK TEA & COFFEE Factsheet 207 About Coca-Cola European Partners Coca-Cola European Partners (CCEP) is one of the world s largest beverage companies and the world s largest independent Coca-Cola bottler based on revenue.

More information

Information Leaflet No. 5

Information Leaflet No. 5 Information Leaflet No. 5 REGISTRATION OF EXTERNAL COMPANIES INFORMATION LEAFLET NO. 5 / May 2017 1. INTRODUCTION An external (foreign) limited company registered abroad may establish a branch in the State.

More information

German Investment Seminar

German Investment Seminar German Investment Seminar Dr Eckhard Cordes, CEO New York, 13 January 2010 Disclaimer This presentation contains forward-looking statements which are based on certain expectations and assumptions at the

More information

Countries with Double Taxation Agreements with the UK rates of withholding tax for the year ended 5 April 2012

Countries with Double Taxation Agreements with the UK rates of withholding tax for the year ended 5 April 2012 Countries with Double Taxation Agreements with the UK rates of withholding tax for the year ended 5 April 2012 This table shows the maximum rates of tax those countries with a Double Taxation Agreement

More information

Raising the retirement age is the labour market ready for active ageing: evidence from EB and Eurofound research

Raising the retirement age is the labour market ready for active ageing: evidence from EB and Eurofound research Raising the retirement age is the labour market ready for active ageing: evidence from EB and Eurofound research Robert Anderson, EUROFOUND, Dublin Reforming pension systems in Europe and Central Asia

More information

Results for the Third Quarter ended 30 September 2017

Results for the Third Quarter ended 30 September 2017 Results for the Third Quarter ended 30 September 2017 Athens, Greece, 24 November 2017 Frigoglass SAIC ( Frigoglass or we or the Group ) announces results for the quarter and nine months ended 30 September

More information

EIOPA Statistics - Accompanying note

EIOPA Statistics - Accompanying note EIOPA Statistics - Accompanying note Publication references: Published statistics: [Balance sheet], [Premiums, claims and expenses], [Own funds and SCR] Disclaimer: Data is drawn from the published statistics

More information

(of 19 March 2013) Valid from 1 January A. Taxpayers

(of 19 March 2013) Valid from 1 January A. Taxpayers Leaflet. 29/460 of the Cantonal Tax Office on withholding taxes applicable to pension benefits under private law for persons without domicile or residence in Switzerland (of 19 March 2013) Valid from 1

More information

Serving 500 million people in 26 countries

Serving 500 million people in 26 countries Annual Report 2001 Serving 500 million people in 26 countries Armenia Austria Belarus Bosnia & Herzegovina Bulgaria Croatia Czech Republic Estonia Federal Republic of Yugoslavia FYROM Greece Hungary Italy

More information

The Camden Asset Recovery Inter-Agency Network (CARIN)

The Camden Asset Recovery Inter-Agency Network (CARIN) 2013/ACT/NET/002 Session 1 The Camden Asset Recovery Inter-Agency Network (CARIN) Purpose: Information Submitted by: CARIN Anti-Corruption and Transparency Network Preparatory Meeting Bali, Indonesia 18-19

More information

Regional market framework

Regional market framework h t t p : / / w w w. n o r d p o o l s p o t. c o m / s e r v Regional market framework 21.05.2017 Manama Nord Pool Consulting Nord Pool Consulting are participating in developing modern power markets

More information

Key Trends of Energy Transition in the EU-28 Region

Key Trends of Energy Transition in the EU-28 Region Key Trends of Energy Transition in the EU-28 Region Jarmo Vehmas, Jyrki Luukkanen & Jari Kaivo-oja Session 13, Innovation in Future Technology June 2017, Turku Finland Futures Research Centre, Turku School

More information

Tax i nformation Austria 2018 People and Organisation

Tax i nformation Austria 2018 People and Organisation Tax i nformation Austria 08 People and Organisation Income tax, social security and immigration in brief January 08 Table of contents Registration and Immigration Income tax rate and deductible expenses

More information

EIOPA Statistics - Accompanying note

EIOPA Statistics - Accompanying note EIOPA Statistics - Accompanying note Publication references: and Published statistics: [Balance sheet], [Premiums, claims and expenses], [Own funds and SCR] Disclaimer: Data is drawn from the published

More information

Today's CPI data: what you need to know

Today's CPI data: what you need to know Trend Macrolytics, LLC Donald Luskin, Chief Investment Officer Thomas Demas, Managing Director Michael Warren, Energy Strategist Data Insights: Consumer Price Index, Producer Price Index Friday, July 14,

More information

Cyprus Double Tax Treaties

Cyprus Double Tax Treaties Seize the advantage of our expertise Fact Sheet This publication should be used as an initial source of general information only. It is not intended to give a definitive statement of the law. For the specific

More information

HEALTH WEALTH CAREER 2017 WORLDWIDE BENEFIT & EMPLOYMENT GUIDELINES

HEALTH WEALTH CAREER 2017 WORLDWIDE BENEFIT & EMPLOYMENT GUIDELINES HEALTH WEALTH CAREER 2017 WORLDWIDE BENEFIT & EMPLOYMENT GUIDELINES WORLDWIDE BENEFIT & EMPLOYMENT GUIDELINES AT A GLANCE GEOGRAPHY 77 COUNTRIES COVERED 5 REGIONS Americas Asia Pacific Central & Eastern

More information

Belgium Country Profile

Belgium Country Profile Belgium Country Profile EU Tax Centre June 2017 Key tax factors for efficient cross-border business and investment involving Belgium EU Member State Double Tax Treaties Yes With: Albania Algeria Argentina

More information

Request to accept inclusive insurance P6L or EASY Pauschal

Request to accept inclusive insurance P6L or EASY Pauschal 5002001020 page 1 of 7 Request to accept inclusive insurance P6L or EASY Pauschal APPLICANT (INSURANCE POLICY HOLDER) Full company name and address WE ARE APPLYING FOR COVER PRIOR TO DELIVERY (PRE-SHIPMENT

More information

Auditor s involvement in the contributions to the Single Resolution Fund. Providing assurance for 2014 and 2015 SURVEY

Auditor s involvement in the contributions to the Single Resolution Fund. Providing assurance for 2014 and 2015 SURVEY Auditor s involvement in the contributions to the Single Resolution Fund Providing assurance for 2014 and 2015 SURVEY AUDIT & ASSURANCE SEPTEMBER 2016 HIGHLIGHTS This survey demonstrates divergence across

More information

ICAEW practising certificate guidance notes

ICAEW practising certificate guidance notes ICAEW practising certificate guidance notes WHY WOULD I NEED A PRACTISING CERTIFICATE? You must have a practising certificate if you want to engage in public practice and provide accountancy services to

More information

Survey on the access to finance of enterprises (SAFE)

Survey on the access to finance of enterprises (SAFE) Survey on the access to finance of enterprises (SAFE) Analytical Report 2017 Written by Ton Kwaak, Martin Clarke, Irena Mikolajun and Carlos Raga Abril November 2017 EUROPEAN COMMISSION Directorate-General

More information

Spain Country Profile

Spain Country Profile Spain Country Profile EU Tax Centre June 2017 Key tax factors for efficient cross-border business and investment involving Spain EU Member State Double Tax Treaties With: Albania Algeria Andorra Argentina

More information

MIND THE CREDIT GAP. Spring 2015 Regional Economic Issues Report on Central, Eastern and Southeastern Europe (CESEE) recovery. repair.

MIND THE CREDIT GAP. Spring 2015 Regional Economic Issues Report on Central, Eastern and Southeastern Europe (CESEE) recovery. repair. Spring 215 Regional Economic Issues Report on Central, Eastern and Southeastern Europe (CESEE) repair recovery MIND THE CREDIT GAP downturn expansion May, 215 Growth Divergence in 214 Quarterly GDP Growth,

More information

Composition of capital IT044 IT044 POWSZECHNAIT044 UNIONE DI BANCHE ITALIANE SCPA (UBI BANCA)

Composition of capital IT044 IT044 POWSZECHNAIT044 UNIONE DI BANCHE ITALIANE SCPA (UBI BANCA) Composition of capital POWSZECHNA (in million Euro) Capital position CRD3 rules A) Common equity before deductions (Original own funds without hybrid instruments and government support measures other than

More information

Elis 2017 annual results MARCH 7, 2018

Elis 2017 annual results MARCH 7, 2018 Elis 2017 annual results MARCH 7, 2018 Forward looking statements This document may contain information related to the Group s outlook. Such outlook is based on data, assumptions and estimates that the

More information