Introduction

Key figures
Value chain
Value chain Design and innovation Industrial management Quality Sales management
Sustainable development
Sustainable development Human resources Environmental management We Are Water foundation
Everything for the bathroom
Everything for the bathroom Western Europe, Africa and the Middle East Americas (North, Central and South) Central Europe, Eastern Europe and Scandinavia Asia-Pacific
Audited annual accounts
Audited annual accounts Consolidated profit and loss account Consolidated balance sheet Group companies

Audited annual accounts

CONSOLIDATED PROFIT-AND-LOSS ACCOUNT FOR THE FINANCIAL YEAR

INCOME (EXPENSES) 2018 2017
NET SALES 1,775,290 1,799,481
Purchase of materials, trade goods and services (668,776) (664,194)
Personnel costs (474,305) (469,224)
Depreciation (107,374) (114,208)
Work carried out by the Group for noncurrent assets 23,665 21,676
Other operating expenses and income (402,608) (454,293)
OPERATING RESULT 145,892 119,238
FINANCIAL RESULTS (17,338) (2,360)
Result from companies consolidated by equity method (17) (32)
Profit (loss) due to loss of significant influence - -
CONSOLIDATED RESULT BEFORE TAXES 128,537 116,846
Income tax expense (34,095) (33,662)
CONSOLIDATED RESULT FOR THE YEAR 94,442 83,184
Net profit attributable to the parent company 95,154 82,941
Net profit attributable to noncontrolling interests (712) 243

CONSOLIDATED BALANCE SHEET AT 31 DECEMBER

ASSETS 2018 2017
NONCURRENT ASSETS
Goodwill 242,973 254,301
Other intangible assets 139,732 133,544
Property, plant and equipment 784,761 784,939
Property investment 23,665 21,676
Investments in associates 15,289 16,039
Noncurrent financial assets 7,739 3,012
Other noncurrent assets 11,117 11,835
Deferred income tax assets 22,563 2,282
TOTAL NONCURRENT ASSETS 1,339,081 1,317,930
CURRENT ASSETS
Inventories 456,240 412,151
Trade accounts receivable and other debtors 339,902 336,437
Other current financial assets 58,180 51,473
Income tax prepayments 5,330 10,767
Other current assets 44,523 27,400
Cash and cash equivalents 70,815 83,552
TOTAL CURRENT ASSETS 974,990 921,780
TOTAL ASSETS 2,314,071 2,239,710
LIABILITIES 2018 2017
TOTAL EQUITY
Share capital 153,034 153,034
Share premium 409,564 409,564
Reserves 886,928 825,669
Net profit attributable to the parent company 95,154 82,941
Prepaid dividend (22,800) (22,800)
Foreign currency translation differences (224,595) (179,526)
EQUITY ATTRIBUTABLE TO THE PARENT COMPANY 1,297,285 1,268,882
Noncontrolling interests 8,123 7,149
TOTAL EQUITY 1,305,408 1,276,031
NONCURRENT LIABILITIES
Capital grants 3,462 3,945
Provisions 25,777 27,522
Noncurrent bank financial liabilities 278,350 302,824
Other noncurrent financial liabilities 12,729 10,571
Deferred tax liabilities 36,839 40,333
TOTAL NONCURRENT LIABILITIES 357,157 385,195
CURRENT LIABILITIES
Provisions 14,087 13,809
Current bank financial liabilities 215,684 144,365
Other current financial liabilities 26,146 19,964
Trade accounts payable and other creditors 351,865 363,617
Income tax payable 13,308 5,056
Other current liabilities 30,416 31,673
TOTAL CURRENT LIABILITIES 651,506 578,484
TOTAL LIABILITIES AND EQUITY 2,314,071 2,239,710

GROUP COMPANIES

LOCATION COMPANY COMPANY
Germany Staudt Roca GmbH
Argentina Buenos Aires Roca Argentina
Australia Sydney Roca Bathroom Products Australia Pty Ltd
Botany Bathroom Products Australia Pty Ltd.
Austria Wilhelmsburg Laufen Austria AG
Brasil Campo Largo Incepa Revestimentos Cerâmicos Ltda.
Jundiaí Roca Sanitários Brasil Ltda.
Bulgaria Kaspichan Roca Bulgaria AD
China Foshan Roca (China), Co. Ltd.
Foshan Xinle Bathroom Products (Foshan), Co. Ltd.
Foshan Cosmic Bathroom Accessories, Co. Ltd.
Shanghái Roca Sanitaryware Trading, Co. Ltd.
Suzhou Roca Sanitaryware (Suzhou), Co. Ltd.
Tangshan Tangshan Ying Bathroom Products, Co. Ltd.
Croatia Zapresic Inker, Industrija Keramike i Porculana D.D.
Denmark Köge Laufen Nordic ApS
Egypt 6th of October City National Industrial & Trading Co “Gravena” S.A.E.
6th of October City> National Sanitaryware Company S.A.E.
6th of October City Sphinx for Sanitary Ware Production S.A.E.
Dokki (Giza) Gravena Import Co.
United Arab Emirates Dubái Roca Sanitario, S.A. (R.O.)
Slovakia Bratislava Laufen SK s.r.o.
Spain Barcelona Roca Corporación Empresarial, S.A.
Barcelona Roca Sanitario, S.A.
Barcelona Industrias Cosmic S.A.
Barcelona Bathroom Furniture Tech and Design, S.L.
Madrid Laufen Bathrooms, S.A.
Burgos Cerámicas Gala, S.A.
Castellón Cerámicas Belcaire, S.A.
Sevilla Cerámicas de Bellavista, S.A.
USA Miami Roca USA Inc.
Russian Federation Cheboksary Keramika OOO
Davidovo Aquaton Rus OOO
Kaluga Ugrakeram ZAO
Tosno Roca Rus OOO
France París Roca S.A.R.L.
Greece Atenas Roca Hellas, A.E.E.
Netherlands Eindhoven Laufen Benelux B.V.
Hong Kong Hong Kong Roca Asia Ltd.
Hong Kong Roca Sanitaryware Ltd.
India Chennai Roca Bathroom Products Pvt Ltd.
Indonesia Yakarta PT. Roca Trading Indonesia
Yakarta PT. Roca Industries Indonesia
Yakarta P.T. Suryaprabha Jatisatya
Italy Milán Roca Sanitario, S.A. (E.P.)
Kazajistán Almaty Roca Kazakhstan LLP
Malaysia Selangor Darul Ehsan Roca Malaysia Sdn Bhd
Selangor Darul Ehsan Johnson Suisse Sdn Bhd
Selangor Darul Ehsan Econax Sdn Bhd
Morocco Settat Roca Maroc, S.A.
Mexico Monterrey Productos de Baño Monterrey, S.A.de C.V.
San Pedro Garza García Roca Bathroom Products México, S.A. de C.V.
Guadalajara Grifos y Accesorios Mexicanos, S.A. de CV
Guadalajara RPG Outsourcing, S.A. de CV
Norway Drammen Laufen Norge AS
Poland Gryfice Roca Pool-Spa, Sp. z.o.o.
Gliwice Roca Polska, Sp. z.o.o.
Portugal Agueda BLB – Indústrias Metalúrgicas, S.A.
Anadia Sanitana, S.A.
Cantanhede Roca Torneiras, Lda.
Leiria Roca, S.A.
United Kingdom Birmingham Roca, Ltd.
Worcestershire Laufen Ltd.
Czech Republic Praga Laufen CZ, s.r.o.
Romania Bucarest Roca Obiecte Sanitare SRL.
Singapore Singapur Roca Bathroom Products Singapore Pte Ltd
Sweden Sundsvall Laufen Sverige AB
Switzerland Laufen Keramik Holding AG
Laufen Keramik Laufen AG
Laufen Laufen Bathrooms AG
Laufen Roca Finance AG
Laufen Similor AG
Thailand Bangkok Roca Bathroom Products (Thailand) Co Ltd
Taiwán Changhua Roca Taiwan Co Ltd
Turkey Eskishehir Roca TR Banyo A.S.

In 2018, the Group has prepared its Nonfinancial Information Disclosure (NID) for the first time, for the purpose of complying with the provisions of the Commerce Code, Law 11/2018 of 28 December 2018, and other legal regulations, and for the purpose of reporting on issues related to environmental protection, social responsibility, treatment of employees, human rights, anti-corruption and bribery, as well as in relation to society and other issues relevant to the company in the execution of its business activities.