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ANNUAL REPORT

AUDITED ANNUAL ACCOUNTS

Roca Group

Consolidated profit and loss account for the year

INCOME (EXPENSES) 2014 2013
NET SALES 1,645,750 1,572,143
Purchase of materials, trade goods and services (573,640) (541,983)
Personnel costs (397,150) (394,363)
Depreciation (112,041) (109,714)
Other operating expenses and income (462,321) (428,276)
OPERATING RESULT 100,598 97,807
FINANCIAL RESULTS (29,465) (37,103)
Participation in profits from companies consolidated by equity method 3,614 3,721
Result in business combinations achieved in stages 9,789 -
CONSOLIDATED RESULT BEFORE TAXES 84,536 64,425
Income tax (31,448) (11,712)
CONSOLIDATED RESULT 53,088 52,713
Attributable to minority interests 224 -
NET PROFIT ATTRIBUTABLE TO GROUP 52,864 52,713
in thousands of euros

CONSOLIDATED BALANCE SHEET AT DECEMBER 31

ASSETS 2014 2013
NON CURRENT ASSETS
Intangible fixed assets 390,175 364,294
Tangible fixed assets 750,481 729,912
Property investment 17,048 19,770
Long-term investments in associates 36,626 33,824
Long-term financial investments 14,631 18,189
Deferred income tax assets 135,886 152,385
TOTAL NON CURRENT ASSETS 1,344,847 1,318,374
CURRENT ASSETS
Non current assets held for sale 10,114 -
Inventories 341,145 352,798
Trade accounts receivable and other debtors 337,343 297,974
Short-term financial investments 45,610 34,087
Prepaid expenses 8,526 8,970
Cash and cash equivalents 66,645 72,785
TOTAL CURRENT ASSETS 809,383 766,614
TOTAL ASSETS 2,154,230 2,084,988
in thousands of euros
LIABILITIES 2014 2013
TOTAL EQUITY
SHAREHOLDERS’ EQUITY 1,216,147 1,176,453
Share capital 155,530 155,530
Share premium 409,564 409,564
Reserves 610,715 571,172
Net profit for the period 52,864 52,713
Prepaid dividend (12,526) (12,526)
CURRENCY EXCHANGE ADJUSTMENTS (78,325) (68,469)
CAPITAL GRANTS 3,705 3,928
MINORITY INTERESTS 8,827 178
TOTAL EQUITY 1,150,354 1,112,090
NON CURRENT LIABILITIES
Long-term provisions 27,701 27,192
Long-term debts 382,655 399,156
Deferred income tax liabilities 59,718 69,145
TOTAL NON CURRENT LIABILITIES 470,074 495,493
CURRENT LIABILITIES
Short-term provisions 51,596 51,113
Short-term debts 130,233 95,461
Trade accounts payable and other creditors 351,876 330,733
Accrued expenses 97 98
TOTAL CURRENT LIABILITIES 533,802 477,405
TOTAL LIABILITIES AND EQUITY 2,154,230 2,084,988
in thousands of euros

Group Companies

ADRESS COMPANY
Germany Staudt Roca GmbH
Argentina Buenos Aires Roca Argentina, S.A.
Australia Sydney
Botany 		Roca Bathroom Products Australia Pty Ltd
Gemini Industries Pty Ltd
Austria Wilhelmsburg Laufen Austria AG
Brazil Campo Largo-Paraná
Jundiaí-Sao Paulo 		Incepa Revestimentos Cerâmicos Ltda.
Roca Sanitários Brasil Ltda.
Bulgaria Kaspichan Roca Bulgaria AD
China Jiangmen
Foshan
Foshan
Foshan
Shanghai
Suzhou
Tangshan 		Jiangmen Giessdorf Bathroom Products, Co. Ltd.
Roca (China), Co. Ltd.
Xinle Bathroom Products (Foshan), Co. Ltd.
Cosmic Bathroom Accessories, Co. Ltd.
Roca Sanitaryware Trading, Co. Ltd.
Roca Sanitaryware (Suzhou), Co. Ltd.
Tangshan Ying Bathroom Products, Co. Ltd.
Croatia Zapresic Inker, Industrija Keramike i Porculana D.D.
Denmark Köge Laufen Nordic ApS
Egypt Ciudad 6 de octubre
Ciudad 6 de octubre 		National Industrial & Trading Co “Gravena” S.A.E.
National Sanitaryware Company S.A.E.
Saudi
rabia 		Dubai Roca Sanitario, S.A. (R.O.)
Eslovaquia Bratislava Laufen SK s.r.o.
Spain Barcelona
Barcelona
Barcelona
Barcelona
Madrid
Burgos
Castellón
Navarra
Sevilla
 Roca Corporación Empresarial, S.A.
Roca Sanitario, S.A.
Cerámicas del Foix, S.A.
Industrias Cosmic S.A.
Laufen Bathrooms, S.A.
Cerámicas Gala, S.A.
Cerámicas Belcaire, S.A.
Vitrometal, S.A.
Cerámicas de Bellavista, S.A.
USA Miami / Florida Roca USA Inc.
Russia Cheboksary Davidovo Kaluga Tosno Keramika OOO
Aquaton Rus OOO
Ugrakeram OOO
Roca Rus OOO
France París Roca S.A.R.L.
Greece Atenas Roca Hellas, A.E.E.
Holland Eindhoven Laufen Benelux B.V.
Hong Kong Hong Kong
Hong Kong 		Roca Asia Ltd.
Roca Sanitaryware Ltd.
India Chennai Roca Bathroom Products Pvt Ltd.
Italy Milán Laufen Italia S.R.L.
Malaysia Selangor Darul Ehsan
Selangor Darul Ehsan
Selangor Darul Ehsan 		Roca Malaysia Sdn Bhd
Johnson Suisse Sdn Bhd
Econax Sdn Bhd
Morrocco Settat Roca Maroc, S.A.
Norway Drammen VVS Marketing AS
Poland Gliwice
Gliwice 		ZWS Silesia, Sp. z.o.o.
Roca Polska, Sp. z.o.o.
Portugal Agueda
Anadia
Cantanhede
Leiria 		BLB – Indústrias Metalúrgicas, S.A.
Sanitana, S.A.
Roca Torneiras, Lda.
Roca, S.A.
United Kingdom Birmingham
Worcestershire 		Roca, Ltd.
Laufen Ltd.
Czech Republic Praga Laufen CZ, s.r.o.
Romania Bucarest Roca Obiecte Sanitare SRL.
Singapur Singapur Roca Bathroom Products Singapore Pte Ltd
Switzerland Laufen
Laufen
Laufen
Laufen 		Keramik Holding AG
Keramik Laufen AG
Roca Finance AG
Similor AG
Taiwan Changhua Roca Taiwan Co Ltd