For management information purposes, the Group is structured in four operating segments: Greece and Western Europe, North America, South Eastern Europe and Eastern Mediterranean. Each operating segment is a set of countries. The aggregation of countries is based mostly on geographic position.
Each region has a regional Chief Executive Officer (CEO) who reports to the Group's CEO. In addition, the Group' s finance department is organized by region for effective financial control and performance monitoring.
Management monitors the operating results of its business units separately for the purpose of making decisions, allocating resources and assessing performance. Segment performance is evaluated based on earnings before interest, taxes, depreciation, amortization & impairment.
Information by operating segment
|
For the year ended 31 December 2017 |
| Gross revenue |
312,851
|
873,435
|
233,695
|
158,188
|
1,578,169
|
| Inter-segment revenue |
-64,120
|
-219
|
-8,027
|
- |
-72,366
|
| Revenue from external customers |
248,731 |
873,216 |
225,668 |
158,188 |
1,505,803 |
Profit before interest, taxes, depreciation,
amortization and impairment
|
18,277
|
185,098
|
56,895
|
13,171
|
273,441
|
| Depreciation, amortization and impairment of tangible and intangible assets |
-23,381
|
-57,785
|
-24,928
|
-10,335
|
-116,429
|
| (Loss)/profit before interest and taxes
|
-5,104
|
127,313
|
31,967
|
2,836
|
157,012
|
| ASSETS |
|
|
|
|
|
| Property, plant & equipment |
304,884
|
612,825
|
303,368
|
244,969
|
1,466,046
|
| Intangible assets and goodwill |
26,832
|
196,242
|
60,976
|
61,921
|
345,971
|
| Other non-current assets |
15,425
|
9,883
|
8,819
|
2,024
|
36,151
|
| Current assets |
233,737
|
177,828
|
108,824
|
73,708
|
594,097
|
| Total assets of segments excluding joint ventures |
580,878 |
996,778
|
481,987
|
382,622
|
2,442,265
|
| Investment in joint ventures (note 15) |
|
|
|
|
153,202 |
| Total assets |
|
|
|
|
2,595,467 |
| LIABILITIES |
|
|
|
|
|
| Non-current liabilities |
311,410
|
375,203
|
79,594
|
163,142
|
929,349 |
| Current liabilities |
64,076
|
86,270
|
57,801
|
88,299
|
296,446
|
| Total Liabilities |
375,486
|
461,473
|
137,395
|
251,441
|
1,225,795
|
| Capital expenditures (note 11,12,13) |
29,643
|
68,297
|
13,876
|
10,702
|
122,518
|
| Provision for obtaining license for construction of production line |
- |
- |
- |
6,380 |
6,380 |
| Impairment of property, plant and equipment (note 11)
|
-2,151
|
-588 |
- |
- |
-2,739 |
| Impairment of Goodwill (note 13) |
- |
- |
-1,396 |
- |
-1,396 |
| Allowance/(reversal of allowance) for doubtful debtors (note 20) |
637 |
-497 |
302 |
-82 |
360 |
| Investment in associates (note 15)
|
857 |
2,865 |
3,980 |
- |
7,702 |
| Non-qualified deferred compensation plans (note 17, 25) |
- |
4,169 |
- |
- |
4,169 |
Capital expenditures consist of additions of property, plant and equipment, intangible assets and investment property.
Impairment charges are included in the income statement.
Turnover consists of the sale of goods and services. There are sales between operating segments. Total assets and capital expenditures are presented in the operating segment of the company that owns the assets.
The transactions among segments are performed as described in note 32.