Expenses not deductible for tax 170 145
Other tax effects 42 (6)
-------------------------------------------------- --------- --------
Total tax credit / (charge) 10,607 (6,192)
-------------------------------------------------- --------- --------
8. Segment reporting
The chief operating decision-maker, who is responsible for
allocating resources and assessing performance, has been identified
as the executive board. The group is organised around the
production and supply of one product, multicrystalline silicon
wafers. Accordingly, the board reviews the performance of the group
as a whole and there is only one operating segment. Disclosure of
reportable segments under IFRS8 is therefore not made.
Geographical information 2012
Rest of United Rest of
Japan China Asia Germany Kingdom Europe USA Group
EUR'000 EUR'000 EUR'000 EUR'000 EUR'000 EUR'000 EUR'000 EUR'000
---------------------- -------- -------- -------- -------- -------- -------- -------- --------
Revenues
By entity's country
of domicile 17,086 - - 7,945 21,293 - - 46,324
By country from which
derived 17,086 13,199 7,668 3,488 15 4,868 - 46,324
---------------------- -------- -------- -------- -------- -------- -------- -------- --------
Non--current assets*
By entity's country
of domicile 440 - - 9,445 24,469 - - 34,354
---------------------- -------- -------- -------- -------- -------- -------- -------- --------
* Excludes: financial instruments, deferred tax assets and
post--employment benefit assets.
Two customers accounted for more than 10% of Group revenue each
and sales to these customers are as follows (figures in
EUR'000):
1. 17,049 (Japan); and
2. 13,178 (China).
Geographical information 2011
Rest of United Rest of
Japan China Asia Germany Kingdom Europe USA Group
EUR'000 EUR'000 EUR'000 EUR'000 EUR'000 EUR'000 EUR'000 EUR'000
---------------------- -------- -------- -------- -------- -------- -------- -------- --------
Revenues
By entity's country
of domicile 61,405 - - 52,843 96,152 - - 210,400
By country from which
derived 61,368 67,195 40,806 33,601 102 255 7,073 210,400
---------------------- -------- -------- -------- -------- -------- -------- -------- --------
Non--current assets*
By entity's country
of domicile 633 - - 86,006 54,580 - - 141,219
---------------------- -------- -------- -------- -------- -------- -------- -------- --------
* Excludes: financial instruments, deferred tax assets and
post--employment benefit assets.
Two customers accounted for more than 10% of Group revenue each
and sales to these customers are as follows (figures in
EUR'000):
1. 64,962 (China);and
2. 43,305 (Japan).
9. Loss per share
Net loss per share is computed by dividing the net loss for the
year attributable to ordinary shareholders by the weighted average
number of Ordinary shares outstanding during the year.
Diluted net loss per share is computed by dividing the net loss
for the period by the weighted-average number of Ordinary shares
outstanding and, when dilutive, adjusted for the effect of all
potentially dilutive shares, including share options.
2012 2011
------------------------------------ ----------- -----------
Basic shares (average) 405,891,335 405,891,335
Basic loss per share (Euro cents) (29.9) (15.0)
Diluted shares (average) 405,891,335 405,891,335
Diluted loss per share (Euro cents) (29.9) (15.0)
------------------------------------ ----------- -----------
Basic shares and diluted shares for this calculation can be
reconciled to the number of issued shares, see note 28, as
follows:
2012 2011
------------------------------------------------------------ ------------ ------------
Shares in issue (see note 28) 416,725,335 416,725,335
Weighted average number of EBT shares held (10,834,000) (10,834,000)
------------------------------------------------------------ ------------ ------------
Weighted average number of shares for basic EPS calculation 405,891,335 405,891,335
Dilutive share options - -
------------------------------------------------------------ ------------ ------------
Weighted average number of shares for fully diluted
EPS calculation 405,891,335 405,891,335
------------------------------------------------------------ ------------ ------------
For the year ended 31 December 2012, there were no differences
in the weighted-average number of Ordinary shares used for basic
and diluted net loss per Ordinary Share as the effect of all
potentially dilutive Ordinary Shares outstanding was anti-dilutive.
As at 31 December 2012, there were 3,482,022 share options
outstanding that could potentially have a dilutive impact in the
future but were anti-dilutive in 2012.
10. Cash and cash equivalents
All short--term deposits are interest bearing at the various
rates applicable in the business locations of the Group.
As at 31 December
-------------------
2012 2011
EUR'000 EUR'000
------------------------- --------- --------
Cash at bank and in hand 33,322 24,536
Short-term bank deposits 61,358 47,128
------------------------- --------- --------
94,680 71,664
------------------------- --------- --------
11. Trade accounts receivable
As at 31 December
-------------------
2012 2011
EUR'000 EUR'000
--------------- --------- --------
Japan 9,459 25,043
Germany 711 2,920
United Kingdom 163 4,356
--------------- --------- --------
10,333 32,319
--------------- --------- --------
All receivables have short--term maturity. During the year,
receivables of EUR771,648 (2011: NIL) were written off.
Some of the unimpaired trade receivables are past due at the
reporting date. The age of financial assets past due but not
impaired is as follows:
As at 31 December
-------------------
2012 2011
EUR'000 EUR'000
--------
Not more than three months 252 2,667
--------
Three months - six months - -
--------
Six months - nine months 147 -
--------------------------- --------- --------
These amounts represent the Group's maximum exposure to credit
risk at the year end. No doubtful debt allowance is deemed
necessary.
12. Inventories
Inventories include finished goods and work in progress (ingots
and blocks), as well as production supplies. The change in
inventories is included in the Consolidated Statement of
Comprehensive Income in the line 'Cost of materials'.
As at 31 December
-------------------
2012 2011
EUR'000 EUR'000
------------------ --------- --------
Finished products 18,674 18,139
Work in progress 6,413 8,902
Raw materials 13,339 21,456
------------------ --------- --------
38,426 48,497
------------------ --------- --------
Inventory writedowns of EUR41.5m in 2012 are included in cost of
materials (2011: EUR22.9m).
13. Prepaid expenses and other assets
As at 31 December
-------------------
2012 2011
EUR'000 EUR'000
------------------------------------------------ --------- --------
Subsidies and grants due relating to Bitterfeld - 542
Other subsidies due 394 387
VAT 1,316 10,144
Prepaid expenses 11,444 15,599
Energy tax claims 149 2,342
Other current assets 757 606
------------------------------------------------ --------- --------
14,060 29,620
------------------------------------------------ --------- --------
Prepaid expenses primarily comprise polysilicon feedstock
deposits.
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