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The various components of equity as well as the changes
between 31 December 2013 and 31 December 2014 are set
out in the consolidated statement of changes in equity.
Share capital
The Company’s share capital at 31 December 2014 was
€ 19.0 million (2013: € 19.0 million), represented by
27 365 197 ordinary shares without nominal value (2013:
5 582 654 shares, which were split into five on 1 July 2014
after approval by the Extraordinary General Meeting on
16 May 2014). All shares are paid up in full. The share
premium at 31 December 2014 was € 1.2 million (2013:
€ 1.2 million). The ordinary shares are entitled to dividend
and the holders of these shares are entitled to cast one
vote at the Company’s shareholder meetings.
Treasury shares reserve
On 19 October 2012 the Extraordinary General Meeting
approved another authorization to purchase up to
1 171 301 shares for cancellation. Taking into account the
split of each share into five new shares on 1 July 2014, up
to 5 856 505 shares can be bought back under this
authorization. This authorization is valid for a term of five
years and can be renewed. In 2014, the company acquired
604 710 of its own shares for € 18.8 million (2013: 276 492
before share split – € 28.8 million) and 30 000 treasury
shares were sold pursuant to the exercise of options for
€ 0.2 million (2013: 14 000 before share split – € 0.3
million). Furthermore, 548 073 shares were cancelled in
2014 for € 16.9 million (2013: 273 854 before share split –
€ 28.5 million). At 31 December 2014 the Group held
1 529 252 treasury shares (2013: 300 523 before share split).
Hedging reserve
The hedging reserve contains the effective portion of the
cumulative net change in the fair value of the cash flow
hedges for which the hedged future transaction has not
yet occurred.
Translation differences
The translation reserve includes all exchange rate differ-
ences resulting from the translation of the financial
statements of foreign entities.
Share-based payments reserve
At 31 December 2014 a total of 1 426 245 options were
granted (2013: 269 249 options before the impact of the
share split). These options entitle their holders to one share
per option (see Note 20). The options will expire ten years
after the date of approval of the plan by the Board of
Directors, on 5 November 2017.
Dividends
On 12 February 2015 a dividend of € 17.8 million was
proposed with respect to 2014 (2013: € 16.8 million). Based
on the number of shares entitled to dividend at the date of
publication of this annual report, this means a gross
dividend per share of € 0.69 (2013: € 3.19 before the impact
of the share split). An exceptional dividend of € 0.20 per
share was also proposed. Together this means a total gross
18. Equity
17. Assets classified as held for sale
IN ’000 €
2013
2014
BALANCE AT END OF PREVIOUS PERIOD
8 673
6 721
Sales and disposals
-867
Transfer to / from other categories
-1 038
-6 721
Effect of exchange rate fluctuations
-47
BALANCE AT END OF CURRENT PERIOD
6 721
In 2012 part of the land in Poznań (Poland) was trans-
ferred from investment property to assets classified as
held for sale for € 1.9 million, because there were concrete
plans to sell this land within the year. In 2013 part of this
land was sold to Porsche Inter Auto Polska for € 2.0 mil-
lion. The rest of the land, for € 1.0 million, was transferred
back to investment property, as its sale within the year
was no longer probable.
On 31 December 2013 the assets held for sale consisted of
the land in Valencia (Spain), where the Group had granted
a purchase option on this land to a third party until the
end of 2014. This option has not been exercised in 2014.
The assets were transferred to Investment property (see
Note 12).
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05 / FINANCIAL REPORT
KINEPOLIS GROUP
ANNUAL REPORT 2014