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AD Plastik d.d.

Quarterly Report • Oct 29, 2012

2080_10-q_2012-10-29_ac7fb0b9-56ee-4341-84d8-9d0b3c927679.pdf

Quarterly Report

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Management Interim Report of the AD Plastik Group and Company AD Plastik Inc. Solin for the third quarter of 2012.

Solin, October 2012.

Content

a) Management Interim Report of the AD Plastik Group and company
AD Plastik Inc. Solin for the period 01.01.-30.09.2012.		 2
b) Financial reports of AD Plastik Group 4
1. Balance sheet 6
2. Profit and loss account 8
3. Cash flow (indirect method) 9
4. Report on changes to capital 10
c) Financial reports of the company AD Plastik Inc. 11
5. Balance sheet 13
6. Profit and loss account 15
7. Cash flow (indirect method) 16
8. Report on changes to capital 17
d) Statement of the person responsible for drafting the financial reports 18

a) Management Interim Report of the AD Plastik Group and company AD Plastik Inc. Solin for the period 01.01.-30.09.2012.

Indicator 01.01.-
30.09.2012.		 01.01.-
30.09.2011.		 Rate of
change %
Sales revenue (thousands of HRK) 539.366 531.581 1,5%
Net profit (thousands of HRK) 37.184 39.318 -5,4%
Debt Ratio 0,423 0,414 1,7%

Financial reports of the AD Plastik Group for the period 01.01. – 30.09.2012.

In the reporting period AD Plastik Group had 1,5 % sales revenue growth compared with same period last year. Net profit amounted 37,2 million HRK, while in the same period of the last year amounted 39,3 million HRK. Main reasons for the decrease in net profit margin are:

  • Operating costs of new acquisitions have been present since the beginning of the year, while they started generating revenue in the third quarter and with slightly less volume than planned;
  • Decrease in revenue in the parent company, as a result of decrease in car sales in the European Union.

On our main terminal markets, in the European Union sales of new cars was lower from the beginning of the year, while in Russia for the same period new car sales increased. In this macroeconomic environment AD Plastik Group managed to achieve sales growth of 1,5% in the reporting period.

We can abstract following events that affected business in the nine months of this year:

  • o Our largest customers (Renault, Peugeot & Citroen-PSA) decreased their production compared to the initial plans. Customers frequently change plans, where is very important fast adjustment of all business expenses with plans.
  • o AD Plastik Inc., does monthly control of plans, to which we align all costs and take into account the realization of all project activities. The parent company has started preparations for Edison Project (Renault – Daimler), and we are working on other projects for customers – Renault, PSA, Ford, VAZ, etc ... In Croatia, in late September, a new law was voted, Law on the promotion of investments and improvement of investment environment, which will help us in the realization of new investment cycle.
  • o We bought equipment from M-Prointex in Mladenovac, Serbia. We took over existing manufacturing of building isolation, the area was adjusted and the equipment was installed for production of parts for new Fiat car. Serial production and deliveries for Fiat program started at beginning of July. We introduced a new product outside automotive business which has R sign, and it is a geotextile that is made from recycled polyester.

Given investment and new employment we signed the Contract on the allocation of funds for direct investments with the Ministry of Economy and Regional Development of the Republic of Serbia, with which we obtained conditions for realization of incentives

  • o In Kaluga, Russia, in the third quarter we started with serial production and products sales. Through third quarter we won nominations for injected parts of exterior and bumper components for Dacia Duster and Nissan versions of the same vehicle, injected exterior positions for Mitsubishi Outlander and part of injected positions for PSA.
  • o Company ZAO PHR, Samara (ADP Togliatti, Russia) in nine months of the year, achieved better sales revenue than planned, and we expect that this trend will continue in future. In second quarter we won

nomination for new Logan which will be produced in Avtoframos. The start of production is planned for second half of the 2013 and in full year of production we should double current sales revenue. At the beginning of July we refinanced loan from EBRD in RUB (equivalent 7 mil. EUR), which significantly reduced foreign exchange risk.

  • o Production in the Romanian company (EAPS) is stable and we can say that Dacia brand is one of the few cars that had no negative fluctuations in the market for this part of the 2012. In September production of new model Dacia Logan 2 started. The correspondent dividend payment for AD Plastik Inc. was voted in amount of 27,9 mil. kn.
  • o FADP Luga, Russia in nine months of the year 2012, achieved full capacity utilization of the facility, and continues with activities aimed at optimizing costs.
  • o In February, parent company AD Plastik Inc., Solin paid advanced dividend in the amount of kn 2,47 per share, and remaining part of dividend in amount of 5,53 kn per share was paid in August.

On September 30th, 2012 the Group had 2.599 employees, which of 820 were in the parent company AD Plastik Inc. Solin.

In the Group`s balance sheet positions relative to December 31st, 2011 the greatest changes were recorded in these positions:

  • o (AOP 010) Tangible assets (increase of 43,3 mil. HRK) because of realization of the investment in Mladenovac and Kaluga (real estate and equipment);
  • o (AOP 026) Loans, deposits and other, long-term (decrease of 6,7 mil. HRK)- due to repayments of loans from ADP-ESOP Ltd.;
  • o (AOP 035) Inventories (increase of 12,4 mil. HRK) due to increased production in ZAO PHR and preparation for production at new locations in Mladenovac and Kaluga;
  • o (AOP 045) Receivables (decrease of 10 mil. HRK) due to changes in the structure of customers and increase in share of customers from Russia, at Group level, which have shorter payment terms
  • o (AOP 046) Receivables from participating parties (increase of 21.2 mil. HRK)- due to receivables for declared dividends;
  • o (AOP 056) Given loans, deposits and other (decrease of 45.7 mil. HRK)- because of own funds use in the realization of the investment cycle;
  • o (AOP 083 and 096) Long-term liabilities to banks, short-term (increase of 121.3 mil. HRK) due to external financing for the realization of the investment cycle. Current liabilities to banks (a reduction of 54.5 mil. HRK) due to replacement of short-term loans with favorable long-term loans. The net effect is an increase in credit debt of 66.8 mil.HRK;
  • o (AOP 098) Accounts payable (decrease of 38.7 mil. HRK) because of payment of part of payables at the beginning of 2012, and a decrease in accounts payable due to parent company lower realization;

Results of associated companies EAPS Romania and FADP Holding France are included in the Group under the equity method..

EXPECTATIONS AND STRATEGIC DIRECTIONS FOR 2012

Given the current unfavorable macroeconomic environment, goals for 2012 are as follows:

  • Initiating investment of AD Plastik Inc. in property and equipment (beginning from the last quarter of 2012), necessary for the successful implementation of the project Edison (serial production is planned in early 2014)
  • Initiating investment in subsidiaries in Russia, for preparation of the production for Dacia Logan 2 (series production is planned for the second half of 2013.)
  • Complete integration of new sites in the business system of AD Plastik Group at all levels.
  • Continuous control of business plans of companies in the Group, and fast alignment of costs with revenues.
  • Achievement of Group's net profit at the level of net profit from the last year

b) Financial report of AD Plastik Group

Appendix 1
Reporting period: 01.01.2012. till 30.09.2012.
Quarterly Financial Report of the entrepreneur TFI-POD
Register number (MB): 03440494
Entity register number (MBS): 060007090
Personal identification 48351740621
number (PIN):
Issuing company: AD PLASTIK d.d.
Post code and place: 21210 SOLIN
Street and house number: Matoševa 8
E-mail address: [email protected]
Internet address: www.adplastik.hr
Municipality/city code and 406 Solin
name:
County code and name: 17 Splitsko-dalmatinska No. of employees: 2599
(at the end of the trimester)
Consolidated report: YES NCA code: 2932
Names of consolidation subjects (according to IMSF): Seat: REG.NO.:
AD PLASTIK d.d. Solin, Hrvatska 03440494
ZAO PHR Samara, Ruska Federacija 1036300221935
AD PLASTIK d.o.o. Novo Mesto, Slovenija 1214985000
Kaluga, Ruska Federacija 1074710000320
ZAO AD PLASTIK KALUGA
SG PLASTIK d.o.o. Solin, Hrvatska 02097974
ADP d.o.o. Mladenovac, Srbija 20787538
Bookkeeping service:
Contact person: Marica Jakelić
(only the name and surname of the contact person to be entered)
Telephone: 021/206-660 Fax: 021/275-660
E-mail address: [email protected]
Name and surname: Katija Klepo
(person authorised for representation)
Documentation for publishing:
1. Financial statements (balance sheet, profit and loss statement, cash flow statement, changes in equity and notes to financial
statements)
2. Interim report,
3.Statement of the person responsible for compiling financial statements.
Place of the seal (signature of the person authorised for representation)

1. Balance sheet Assets

BALANCE SHEET
as at 30.09.2012.
Taxpayer: GROUP AD PLASTIK
ITEM AOP Preceding year Current year
ind.
1 2 3 4
ASSETS
A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID 001
B) FIXED ASSETS (003+010+020+029+033) 002 742.819.707 776.299.587
I. INTANGIBLE ASSETS (004 up to 009) 003
004		 41.387.283 41.430.788
1. Development costs
2. Concessions, patents, licenses, trademarks, softwares and other rights		 005 38.937.009
515.674		 36.308.266
546.592
3. Goodwill 006
4. Advances for purchase of intangible assets 007 104.409
5. Intangible assets in preparation 008 2.808.750
6. 6. Other intangible assets 009 1.934.600 1.662.771
II. TANGIBLE ASSETS (011 up to 019) 010 537.992.686 581.286.994
1. Land 011 135.379.260 136.386.014
2. Buildings 012 225.514.301 223.935.861
3. Plants and machinery 013 144.437.953 159.354.832
4. Tools, plant & office inventory, furniture & transport means 014 13.337.564 8.713.557
5. Biological assets 015
6. Payments on account for tangible assets 016 9.836.323 17.098.400
7. Tangible assets in preparation 017 6.765.557 26.495.001
8. Other tangible assets 018 2.721.728 9.303.329
9. Investment in real estate 019
III. FIXED FINANCIAL ASSETS (021 up to 028) 020 162.445.326 152.651.231
1. Shares in affiliated undertakings 021
2. Loans to affiliated undertakings 022
3. Participating interests (shares) 023 84.333.744 79.527.908
4. Given loans to companies in which exist participating interests 024 53.309.155 54.971.185
5. Investments in securities 025 63.855 63.855
6. Other loan, deposits etc 026 24.738.572 18.088.283
7. Other fixed financial assets 027
8. Investment stated in equity method 028
IV. RECEIVABLES (030 up to 032) 029 0 0
1. Receivables from associated undertakings 030
2. Receivables from sales on credit 031
3. Other receivables 032
V. DEFFERED TAX ASSETS
C) CURRENT ASSETS (035+043+050+058)		 033
034		 994.412
342.563.374		 930.574
336.525.253
I. INVENTORY (036 up to 042) 035 72.995.772 85.404.925
1. Materials and supplies 036 39.899.443 53.078.820
2. Work in progress 037 2.530.539 1.954.095
3. Finished goods 038 11.092.898 9.090.379
4. Commercial goods 039 19.472.892 20.696.370
5. Advances for inventories 040 585.261
6. Long term assets held for sale 041
7. Biological assets 042
II. RECEIVABLES (044 up to 049) 043 201.380.924 221.560.168
1. Receivables from associated undertakings 044
2. Trade receivables 045 144.486.335 134.454.143
3. Receivables from participating companies 046 11.459.976 32.758.144
4. Receivables from employees and members of the business 047 735.970 1.194.963
5. Receivables from government and other institutions 048 19.265.748 21.222.076
6. Other receivables 049 25.432.895 31.930.842
III. CURRENT FINANCIAL ASSETS (051 up to 057) 050 60.674.391 18.470.964
1. Shares in affiliated undertakings 051
2. Loans to affiliates 052
3. Participating interests (shares) 053
4. Given loans to companies in which exist participating interests 054 14.977.162 18.425.596
5. Investments in to securities 055
6. Other loan, deposits etc 056 45.697.229 45.368
7. Other financial assets 057
IV. CASH AT BANK AND IN HAND 058 7.512.287 11.089.196
D) PREPAYMENTA AND ACCRUED INCOME
E) TOTAL ASSETS (001+002+034+059)		 059
060		 116.165.088
1.201.548.169		 115.935.585
1.228.760.425
F) OUT-OF-BALANCE ITEMS 061 4.592.542 4.592.542
Liabilities
A) CAPITAL AND RESERVES (063+064+065+071+072+075+078) 062 703.571.542 709.075.344
I. SUBSCRIBED SHARE CAPITAL 063 419.958.400 419.958.400
II. CAPITAL RESERVES 064 183.120.693 183.513.558
III. RESERVES FROM GAIN (066+067-068+069+070) 065 6.853.275 21.620.545
1. Legal reserves 066 6.142.808 6.142.966
2. Reserves for own shares 067 378.455 3.586.667
3. Own stocks and shares (deductible item) 068 378.455 3.586.667
4. Statutory reserves 069 37.583 37.181
5. Other reserves 070 672.884 15.440.398
IV. REVALUATION RESERVES 071 10.185.353 10.185.353
V. RETAINED EARNINGS OR LOSS BROUGHT FORWARD (073-074) 072 18.778.919 36.601.695
1. Retained earnings 073 18.778.919 36.601.695
2. Loss brought forward 074
VI. CURRENT YEAR PROFIT OR LOSS (076-077) 075 64.663.081 37.178.882
1. Current year profit 076 64.663.081 37.178.882
2. Current year loss 077
VII. MINOR INTEREST 078 11.821 16.911
B) PROVISIONS (080 up to 082) 079 15.214.437 12.231.698
1. Provisions for pensions, severance pay and similar obligations 080 4.954.378 3.388.145
2. Provisions for tax liabilities 081 0
3. Other provisions 082 10.260.059 8.843.553
C) LONG TERM LIABILITIES (084 up to 092) 083 79.910.743 201.207.993
1. Liabilities to related parties 084
2. Commitments for loans, deposits, etc 085
3. Liabilities to banks and other financial institutions 086 79.841.681 201.136.996
4. Liabilities for advances 087
5. Trade payables 088
6. Commitments on securities 089
7. Liabilities to companies in which are participating interests 090
8. Other long term liabilities 091
9. Deferred tax liabilities 092 69.062 70.997
D) SHORT TERM LIABILITIES (094 do 105) 093 400.643.484 303.956.758
1. Liabilities to related parties 094
2. Commitments for loans, deposits, etc 095
3. Liabilities to banks and other financial institutions 096 130.575.421 76.080.321
4. Liabilities for advances 097 121.247.148 127.822.391
5. Trade payables 098 120.621.316 81.945.139
6. Commitments on securities 099
7. Liabilities to companies in which are participating interests 100 8.971 16.947
8. Liabilities towards employees 101 3.163.182 7.295.293
9. Liabilities for taxes, contributions and other benefits 102 24.365.906 10.386.754
10. Liabilities to share in the result 103 657.875 374.754
11. Amount based on fixed assets intended to sale 104
12. Other short-term liabilities 105 3.665 35.159
E) DEFERRED PAYMENT OF COSTS AND FUTURE INCOME 106 2.207.963 2.288.632
F) TOTAL LIABILITIES (062+079+083+093+106) 107 1.201.548.169 1.228.760.425
G) OUT-OF BALANCE ITEMS
108
4.592.542
4.592.542
ADDENDUM TO BALANCE SHEET( filled in by the entrepreneur compiling the consolidated annual financial statement)
A) CAPITAL AND RESERVES
1. Ascribed to the holders of the parent company capital 109 703.559.721 709.058.433
2. Ascribed to minority interest 110 11.821 16.911

2. Profit and loss account

AOP ind. Cumulative Quarter Cumulative Quarter 2 3 4 5 6 111 531.581.072 163.567.692 539.366.005 148.408.567 112 518.070.521 154.198.571 524.570.829 144.071.991 113 13.510.551 9.369.121 14.795.176 4.336.576 114 493.843.954 160.155.213 513.078.012 149.959.457 115 1.088.569 562.621 4.061.256 714.840 116 304.140.415 83.357.558 321.444.378 87.529.127 117 267.375.480 83.330.253 281.890.112 73.571.689 118 1.451.069 190.836 351.521 -1.291 119 35.313.866 -163.531 39.202.745 13.958.729 120 91.635.867 30.100.905 101.582.840 34.466.521 121 56.158.197 18.591.511 62.994.775 21.201.810 122 19.506.330 6.293.506 21.118.274 7.058.532 123 15.971.340 5.215.888 17.469.791 6.206.179 124 37.978.844 12.525.664 41.045.997 13.616.526 125 55.234.329 33.380.799 30.443.333 9.788.386 126 0 0 0 0 127 128 129 130 3.765.930 227.666 14.500.208 3.844.057 131 21.406.036 11.010.100 29.976.744 11.676.932 132 4.820.553 1.937.666 10.910.345 4.694.968 133 16.416.454 9.082.172 11.895.869 4.616.688 134 7.150.133 2.366.145 135 136 169.029 -9.738 20.397 -869 137 30.918.717 17.012.718 36.394.157 13.308.117 138 8.323.931 5.039.208 8.572.967 2.919.610 139 22.375.458 11.986.146 27.821.190 10.388.507 140 141 219.328 -12.636 142 18.057.481 5.831.144 24.543.421 6.902.986 143 2.617.786 1.820.535 1.457.529 854.468 144 145 146 571.044.589 180.408.936 593.886.170 166.988.485 147 527.380.457 178.988.466 550.929.698 164.122.042 148 43.664.132 1.420.470 42.956.472 2.866.443 149 43.664.132 1.420.470 42.956.472 2.866.443 150 0 0 0 0 151 4.346.069 242.478 5.772.153 1.936.270 152 39.318.063 1.177.992 37.184.319 930.173 153 39.318.063 1.177.992 37.184.319 930.173 154 0 0 0 0 155 39.316.443 1.178.889 37.178.882 928.504 156 1.620 -897 5.437 1.669 157 39.318.063 1.177.992 37.184.319 930.173 158 0 0 0 0 159 160 161 162 163 164 165 166 167 0 0 0 0 168 39.318.063 1.177.992 37.184.319 930.173 169 39.316.443 1.178.889 37.178.882 928.504 170 1.620 -897 5.437 1.669 in period from 01.01.2012. till 30.09.2012. PROFIT AND LOSS ACCOUNT 2. Attributable to minority interests III. TAX ON OTHER COMPREHENSIVE INCOME FOR THE CURRENT PERIOD IV. OTHER COMPREHENSIVE NET PROFIT OR LOSS V. OTHER COMPREHENSIVE PROFIT OR LOSS FOR THE PERIOD (157+167) ADDENDUM TO Report for other comprehensive income (filled in by the entrepreneur compiling the consolidated annual financial statement) VI. OTHER COMPREHENSIVE PROFIT OR LOSS FOR THE PERIOD 5. Gains or losses on effective hedge of a net investment abroad 6. Share of other comprehensive income / loss of associated companies 7. Actuarial gains / losses on defined benefit plans 1. Attributable to equity holders 1. Exchange differences on translation of foreign operations 2. Movements in revaluation reserves of fixed and intangible assets 3. Profit or loss from revaluation of financial assets available for sale 4. Gains or losses on effective cash flow protection 2. Attributable to minority interests I. PROFIT OR LOSS FOR THE CURRENT PERIOD (= 152) Report for other comprehensive income (only for the taxpayer applying IFRS) II. OTHER COMPREHENSIVE INCOME / LOSS BEFORE TAXATION (159 up to 165) 2. LOSS FOR THE PERIOD (151-148) ADDENDUM TO ATS (filled in by the entrepreneur compiling the consolidated annual financial statement) XIV. PROFIT OR LOSS FOR THE CURRENT PERIOD 1. Attributable to equity holders 2. Loss before taxation (147-146) XII. PROFIT TAX XIII. PROFIT OR LOSS FOR THE PERIOD (148-151) 1. PROFIT FOR THE PERIOD (149-151) IX. TOTAL INCOME (111+131+142 + 144) X. TOTAL CHARGES (114+137+143 + 145) XI. PROFIT OR LOSS BEFORE TAXATION (146-147) 1. Profit before taxation (146-147) V. SHARE OF PROFIT FROM ASSOCIATED COMPANIES VI. SHARE OF LOSS FROM ASSOCIATED COMPANIES VII. EXTRAORDINARY – OTHER INCOME VIII. EXTRAORDINARY – OTHER CHARGES 1. Interests, exchange rate differenc, dividends with affiliates 2. Interests, exch. rate differenc., dividends with non-affiliates 3. Non-realized financial charges 4. Other financial charges 3. Part of income from affiliates and participated interests 4. Non-realized financial income 5. Other financial income IV. FINANCIAL CHARGES (138 up to 141) 8. Other operating expenses III. FINANCIAL INCOME (132 up to 136) 1. Interests, exchange rate differenc, dividends with affiliates 2. Interests, exch. rate differenc., dividends with non-affiliates 6. Impairment (127+128) a) fixed assets (excluding financial assets) b) current assets (excluding financial assets) 7. Provisions b) Costs of taxes and social security c) Duties on wages 4. Depreciation 5. Other costs b) Costs of sales c) Other external charges 3. Staff costs (121 up to 123) a) Salaries and wages II. OPERATING CHARGES (115+116+120+124+125+126+129+130) 1. Changes in the value of inventories of work in progress and finished goods 2. Material charges (117 up to 119) a) Costs of raw materials and consumables 2. Other operating income Preceding year Current year Taxpayer: GROUP AD PLASTIK ITEM 1 I. OPERATING TURNOVER (112+113) 1. Income from sales

CASH FLOW REPORT – Indirect method
in period from 01.01.2012. till 30.09.2012.
Taxpayer: GROUP AD PLASTIK AOP
ITEM ind. Preceding year Current year
1 2 3 4
CASH FLOW FROM OPERATING ACTIVITIES
1. Profit before taxation 001 43.664.132 42.956.472
2. Depreciation 002 37.978.844 41.045.997
3. Increase of current liabilities 003 17.846.237
4. Decrease of current receivables 004
5. Decrease in stocks 005
6. Other increase of cash flow 006 9.876.530 63.838
I. Total increase of cash flow from operating activities (001 - 006) 007 109.365.743 84.066.307
1. Decrease of current liabilities 008 82.448.429
2. Increase of current receivables 009 8.142.758 19.949.741
3. Increase in stocks 010 2.290.227 12.409.153
4. Other decrease of cash flow 011
II. Total decrease of cash flow from operating activities (008 – 011) 012 10.432.985 114.807.323
A1) NET INCREASE OF CASH FLOW FROM OPERATING ACTIVITIES (012-007) 013 98.932.758 0
A2) NET DECREASE OF CASH FLOW FROM OPERATING ACTIVITIES (012-007) 014 0 30.741.016
CASH FLOWS FROM INVESTMENT ACTIVITIES
1. Cash inflows from sale of fixed intangible and tangible assets 015
2. Cash inflows from sale of ownership and debt instruments 016
3. Cash inflows from interest 017
4. Cash inflows from dividends 018 7.895.757 16.709.482
5. Other cash inflows from investment activities 019
III. Total cash inflows from investment activities (015-019) 020 7.895.757 16.709.482
1. Cash expenditures for purchase of fixed tangible and intangible assets 021 28.095.586 84.383.810
2. Cash expenditures for acquisition of ownership and debt instruments 022
3. Other cash expenditures from investment activities 023
IV. Total cash expenditures from investment activities (021-023) 024 28.095.586 84.383.810
B1) NET INCREASE OF CASH FLOW FROM INVESTMENT ACTIVITIES (020-024) 025 0 0
B2) NET DECREASE OF CASH FLOW FROM INVESTMENT ACTIVITIES (024-020) 026 20.199.829 67.674.328
CASH FLOW FROM FINANCIAL ACTIVITIES
1. Cash inflows from issuing ownership and debt financial instruments 027
2. Cash inflows from credit principal, debentures, loans and other borrowings 028 178.405.236
3. Other inflows from financial activities 029 27.438.530
V. Total cash inflows from financial activities (027-029) 030 27.438.530 178.405.236
1. Cash expenditures for the payment of credit principal and debentures 031 1.174.456
2. Cash expenditures for the payment of dividends 032 29.822.493 33.849.849
3. Cash expenditures for financial lease 033 46.437.945 5.110.464
4. Cash expenditures for repurchase of own shares
5. Other cash expenditures from financial activities		 034
035		 26.301.684 37.452.670
VI. Total cash expenditures from financial activities (031-035) 036 103.736.578 76.412.983
C1) NET INCREASE OF CASH FLOW FROM FINANCIAL ACTIVITIES (030-036) 037 0 101.992.253
C2) NET DECREASE OF CASH FLOW FROM FINANCIAL ACTIVITIES (036-030) 038 76.298.048 0
Total cash flow increase (013-014+025-026+037-038) 039 2.434.881 3.576.909
Total cash flow decrease (014-013+026-025+038-037) 040
Cash and cash equivalents at the beginning of the period 041 9.561.724 7.512.287
Cash and cash equivalents increase 042 2.434.881 3.576.909
Cash and cash equivalents decrease 043
Cash and cash equivalents at the end of the period 044 11.996.605 11.089.196
REPORT ON CHANGES TO CAPITAL
for period
1.1.2012
till
30.9.2012
Taxpayer: GROUP AD PLASTIK
ITEM AOP
ind.		 Preceding
year		 Current year
1 2 3 4
1. Subscribed capital 001 419.958.400 419.958.400
2. Capital reserves 002 183.120.693 183.513.558
3. Reserves from profit 003 6.865.096 21.637.456
4. Retained profit or loss carried over 004 18.778.919 36.601.695
5. Current year profit or loss 005 64.663.081 37.178.882
6. Revalorisation of fixed material assets 006
7. Revalorisation of intangible assets 007
8. Revalorisation of financial assets available for sale 008
9. Other revalorisation 009 10.185.353 10.185.353
10. Total capital and reserves (AOP 001-009) 010 703.571.542 709.075.344
11.Exchange rate variations from net investments into foreign business operations 011
12.Current and deferred taxes (part) 012
13.Cash flow protection 013
14.Changes in bookkeeping policies 014
15.Correction of significant mistakes from the previous period 015
16.Other changes to capital 016
17. Total capital increase or decrease (AOP 011 - 016) 017 0 0
17a. Ascribed to holders of the holders company capital 018 703.559.721 709.058.433
17b. Ascribed to minority interest 019 11.821 16.911

c) Financial report of the company AD Plastik Inc. Solin

Appendix 1
Reporting period: 01.01.2012. till 30.09.2012.
Quarterly Financial Report of the entrepreneur TFI-POD
Register number (MB): 03440494
Entity register number (MBS): 060007090
Personal identification 48351740621
number (PIN):
Issuing company: AD PLASTIK d.d.
Post code and place: 21210 SOLIN
Street and house number: MATOŠEVA 8
E-mail address: [email protected]
Internet address: www.adplastik.hr
Municipality/city code and 406 SOLIN
name:
County code and name: 17 SPLITSKO-DALMATINSKA No. of employees: 820
Consolidated report: NO (at the end of the trimester)
NCA code:		 2932
Names of consolidation subjects (according to IMSF): Seat: REG.NO.:
Bookkeeping service:
Contact person: Marica Jakelić
(only the name and surname of the contact person to be entered)
Telephone: 021/206-660 Fax: 021/275-660
E-mail address: [email protected]
Name and surname: Katija Klepo
(person authorised for representation)
Documentation for publishing:
1. Financial statements (balance sheet, profit and loss statement, cash flow statement, changes in equity and notes to financial
statements)
2. Interim report,
3.Statement of the person responsible for compiling financial statements.
Place of the seal (signature of the person authorised for representation)

F) OUT-OF-BALANCE ITEMS

AOP ind. Preceding year Current year 2 3 4 001 002 721.399.889 668.219.138 003 36.409.304 36.608.787 004 35.938.378 36.308.266 005 470.926 300.521 006 007 008 009 010 425.253.547 417.923.439 011 135.379.260 136.386.014 012 168.735.416 166.544.680 013 111.303.453 101.148.009 014 6.158.495 5.940.413 015 016 017 3.676.923 7.904.323 018 019 020 258.849.409 212.799.283 021 74.947.666 87.364.576 022 53.478.776 023 52.311.385 52.311.385 024 53.309.155 54.971.185 025 63.855 63.855 026 24.738.572 18.088.282 027 028 029 0 0 030 031 032 033 887.629 887.629 034 271.636.937 279.219.050 035 34.962.353 28.259.968 036 23.698.027 19.487.618 037 2.333.615 1.718.982 038 8.849.908 6.510.074 039 80.803 543.294 040 041 042 043 172.651.281 217.287.386 044 61.634.309 101.561.275 045 59.361.736 40.910.304 046 11.459.976 32.758.144 047 410.133 1.069.460 048 16.925.769 12.445.667 049 22.859.358 28.542.536 050 62.835.622 30.472.505 051 052 2.161.231 12.001.541 053 054 14.977.162 18.425.596 055 056 45.697.229 45.368 057 058 1.187.681 3.199.191 059 116.103.331 113.013.449 060 1.109.140.157 1.060.451.637 D) PREPAYMENTA AND ACCRUED INCOME E) TOTAL ASSETS (001+002+034+059) 5. Investments in to securities 6. Other loan, deposits etc 7. Other financial assets IV. CASH AT BANK AND IN HAND 1. Shares in affiliated undertakings 2. Loans to affiliates 3. Participating interests (shares) 4. Given loans to companies in which exist participating interests 4. Receivables from employees and members of the business 5. Receivables from government and other institutions 6. Other receivables III. CURRENT FINANCIAL ASSETS (051 up to 057) II. RECEIVABLES (044 up to 049) 1. Receivables from associated undertakings 2. Trade receivables 3. Receivables from participating companies 4. Commercial goods 5. Advances for inventories 6. Long term assets held for sale 7. Biological assets I. INVENTORY (036 up to 042) 1. Materials and supplies 2. Work in progress 3. Finished goods 2. Receivables from sales on credit 3. Other receivables V. DEFFERED TAX ASSETS C) CURRENT ASSETS (035+043+050+058) 7. Other fixed financial assets 8. Investment stated in equity method IV. RECEIVABLES (030 up to 032) 1. Receivables from associated undertakings 3. Participating interests (shares) 4. Given loans to companies in which exist participating interests 5. Investments in securities 6. Other loan, deposits etc 9. Investment in real estate III. FIXED FINANCIAL ASSETS (021 up to 028) 1. Shares in affiliated undertakings 2. Loans to affiliated undertakings 5. Biological assets 6. Payments on account for tangible assets 7. Tangible assets in preparation 8. Other tangible assets 1. Land 2. Buildings 3. Plants and machinery 4. Tools, plant & office inventory, furniture & transport means BALANCE SHEET as at 30.09.2012. Taxpayer: AD Plastik d.d. ITEM 4. Advances for purchase of intangible assets 5. Intangible assets in preparation 1 ASSETS A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID B) FIXED ASSETS (003+010+020+029+033) 6. 6. Other intangible assets II. TANGIBLE ASSETS (011 up to 019) I. INTANGIBLE ASSETS (004 up to 009) 1. Development costs 2. Concessions, patents, licenses, trademarks, softwares and other rights 3. Goodwill

061 4.592.542 4.592.542

Balance sheet- Liabilities

LIABILITIES
A) CAPITAL AND RESERVES (063+064+065+071+072+075+078) 062 671.856.988 671.741.251
I. SUBSCRIBED SHARE CAPITAL 063 419.958.400 419.958.400
II. CAPITAL RESERVES 064 183.075.797 183.075.797
III. RESERVES FROM GAIN (066+067-068+069+070) 065 6.801.736 21.569.250
1. Legal reserves 066 6.128.852 6.128.852
2. Reserves for own shares 067 378.455 3.586.667
3. Own stocks and shares (deductible item) 068 378.455 3.586.667
4. Statutory reserves 069
5. Other reserves 070 672.884 15.440.398
IV. REVALUATION RESERVES 071 10.185.353 10.185.354
V. RETAINED EARNINGS OR LOSS BROUGHT FORWARD (073-074) 072 0 0
1. Retained earnings 073
2. Loss brought forward 074
VI. CURRENT YEAR PROFIT OR LOSS (076-077) 075 51.835.702 36.952.450
1. Current year profit 076 51.835.702 36.952.450
2. Current year loss 077
VII. MINOR INTEREST 078
B) PROVISIONS (080 up to 082) 079 12.744.194 11.170.653
1. Provisions for pensions, severance pay and similar obligations 080 4.438.145 3.388.145
2. Provisions for tax liabilities 081
3. Other provisions 082 8.306.049 7.782.508
C) LONG TERM LIABILITIES (084 up to 092) 083 79.841.681 86.743.721
1. Liabilities to related parties 084
2. Commitments for loans, deposits, etc 085
3. Liabilities to banks and other financial institutions 086 79.841.681 86.743.721
4. Liabilities for advances 087
5. Trade payables 088
6. Commitments on securities 089
7. Liabilities to companies in which are participating interests 090
8. Other long term liabilities 091
9. Deferred tax liabilities 092
D) SHORT TERM LIABILITIES (094 do 105) 093 342.489.331 288.507.379
1. Liabilities to related parties 094 35.941.327 43.611.779
2. Commitments for loans, deposits, etc 095
3. Liabilities to banks and other financial institutions 096 92.921.145 70.955.879
4. Liabilities for advances 097 106.411.912 117.471.594
5. Trade payables 098 84.490.786 48.821.291
6. Commitments on securities 099
7. Liabilities to companies in which are participating interests 100 8.971 16.947
8. Liabilities towards employees 101 1.556.189 4.664.327
9. Liabilities for taxes, contributions and other benefits 102 20.501.126 2.590.808
10. Liabilities to share in the result 103 657.875 374.754
11. Amount based on fixed assets intended to sale 104
12. Other short-term liabilities 105
E) DEFERRED PAYMENT OF COSTS AND FUTURE INCOME 106 2.207.963 2.288.633
F) TOTAL LIABILITIES (062+079+083+093+106) 107 1.109.140.157 1.060.451.637
G) OUT-OF BALANCE ITEMS
108
4.592.542
4.592.542
ADDENDUM TO BALANCE SHEET( filled in by the entrepreneur compiling the consolidated annual financial statement)
A) CAPITAL AND RESERVES
1. Ascribed to the holders of the parent company capital 109
2. Ascribed to minority interest 110

6. Profit and loss account

PROFIT AND LOSS ACCOUNT
in period from 01.01.2012. till 30.09.2012.
Taxpayer: AD Plastik d.d.
ITEM AOP
ind.		 Preceding year Current year
Cumulative Quarter Cumulative Quarter
1 2 3 4 5 6
I. OPERATING TURNOVER (112+113) 111 412.263.813 117.398.693 374.833.628 98.976.927
1. Income from sales
2. Other operating income		 112
113		 408.211.229 115.302.998 373.120.560 98.012.021
II. OPERATING CHARGES (115+116+120+124+125+126+129+130) 114 4.052.584
391.128.607		 2.095.695
120.390.062		 1.713.068
362.038.109		 964.906
102.905.130
1. Changes in the value of inventories of work in progress and finished goods 115 568.215 94.436 2.955.484 -33.414
2. Material charges (117 up to 119) 116 241.852.486 63.560.037 238.916.838 64.879.725
a) Costs of raw materials and consumables 117 191.737.069 53.914.105 165.963.167 44.685.328
b) Costs of sales 118 19.365.669 3.033.920 47.058.750 12.783.591
c) Other external charges 119 30.749.748 6.612.012 25.894.921 7.410.806
3. Staff costs (121 up to 123) 120 67.395.951 22.897.923 67.339.192 21.220.744
a) Salaries and wages 121 40.437.570 13.738.753 40.403.515 12.732.446
b) Costs of taxes and social security 122 16.848.988 5.724.481 16.834.798 5.305.186
c) Duties on wages 123 10.109.393 3.434.689 10.100.879 3.183.112
4. Depreciation 124 29.558.874 9.852.747 29.202.309 9.588.020
5. Other costs 125 50.193.087 23.980.994 23.218.117 7.240.114
6. Impairment (127+128) 126 0 0 0 0
a) fixed assets (excluding financial assets) 127
b) current assets (excluding financial assets) 128
7. Provisions 129
8. Other operating expenses 130 1.559.994 3.925 406.169 9.941
III. FINANCIAL INCOME (132 up to 136) 131 53.931.273 13.604.150 46.320.737 5.003.104
1. Interests, exchange rate differenc, dividends with affiliates 132 12.118.300 5.474.857 2.989.294 851.814
2. Interests, exch. rate differenc., dividends with non-affiliates 133 25.864.671 8.129.293 8.289.582 1.785.145
3. Part of income from affiliates and participated interests 134 15.948.302 35.041.861 2.366.145
4. Non-realized financial income 135
5. Other financial income 136
IV. FINANCIAL CHARGES (138 up to 141) 137 25.294.396 11.796.434 19.375.167 5.395.330
1. Interests, exchange rate differenc, dividends with affiliates 138 6.824.353 2.709.628 2.542.229 984.866
2. Interests, exch. rate differenc., dividends with non-affiliates 139 18.470.043 9.086.806 16.832.938 4.410.464
3. Non-realized financial charges 140
4. Other financial charges 141
V. SHARE OF PROFIT FROM ASSOCIATED COMPANIES 142
VI. SHARE OF LOSS FROM ASSOCIATED COMPANIES 143
VII. EXTRAORDINARY – OTHER INCOME 144
VIII. EXTRAORDINARY – OTHER CHARGES
IX. TOTAL INCOME (111+131+142 + 144)		 145
146		 466.195.086 131.002.843 421.154.365 103.980.031
X. TOTAL CHARGES (114+137+143 + 145) 147 416.423.003 132.186.496 381.413.276 108.300.460
XI. PROFIT OR LOSS BEFORE TAXATION (146-147) 148 49.772.083 -1.183.653 39.741.089 -4.320.429
1. Profit before taxation (146-147) 149 49.772.083 0 39.741.089 0
2. Loss before taxation (147-146) 150 0 1.183.653 0 4.320.429
XII. PROFIT TAX 151 3.336.360 175.174 2.788.639 1.110.406
XIII. PROFIT OR LOSS FOR THE PERIOD (148-151) 152 46.435.723 -1.358.827 36.952.450 -5.430.835
1. PROFIT FOR THE PERIOD (149-151) 153 46.435.723 0 36.952.450 0
2. LOSS FOR THE PERIOD (151-148) 154 0 1.358.827 0 5.430.835
ADDENDUM TO ATS (filled in by the entrepreneur compiling the consolidated annual financial statement)
XIV. PROFIT OR LOSS FOR THE CURRENT PERIOD
1. Attributable to equity holders 155
2. Attributable to minority interests 156
Report for other comprehensive income (only for the taxpayer applying IFRS)
I. PROFIT OR LOSS FOR THE CURRENT PERIOD (= 152) 157
II. OTHER COMPREHENSIVE INCOME / LOSS BEFORE TAXATION (159 up to 165) 158 0 0 0 0
1. Exchange differences on translation of foreign operations 159
2. Movements in revaluation reserves of fixed and intangible assets 160
3. Profit or loss from revaluation of financial assets available for sale 161
4. Gains or losses on effective cash flow protection 162
5. Gains or losses on effective hedge of a net investment abroad 163
6. Share of other comprehensive income / loss of associated companies 164
7. Actuarial gains / losses on defined benefit plans 165
III. TAX ON OTHER COMPREHENSIVE INCOME FOR THE CURRENT PERIOD 166
IV. OTHER COMPREHENSIVE NET PROFIT OR LOSS 167 0 0 0 0
V. OTHER COMPREHENSIVE PROFIT OR LOSS FOR THE PERIOD (157+167) 168 0 0 0 0
ADDENDUM TO Report for other comprehensive income (filled in by the entrepreneur compiling the consolidated annual financial statement)
VI. OTHER COMPREHENSIVE PROFIT OR LOSS FOR THE PERIOD
1. Attributable to equity holders 169
2. Attributable to minority interests 170

7. Cash flow report – Indirect method

Taxpayer: AD Plastik d.d.
AOP
ITEM
Preceding year
Current year
ind.
1
2
3
4
CASH FLOW FROM OPERATING ACTIVITIES
1. Profit before taxation
001
49.772.083
39.741.089
2. Depreciation
002
29.558.874
29.202.309
3. Increase of current liabilities
003
4. Decrease of current receivables
14.639.939
004
5. Decrease in stocks
005
5.621.697
6.702.385
6. Other increase of cash flow
006
9.851.736
I. Total increase of cash flow from operating activities (001 - 006)
007
109.444.329
75.645.783
1. Decrease of current liabilities
008
23.863.406
38.334.454
009
2. Increase of current receivables
41.546.223
3. Increase in stocks
010
4. Other decrease of cash flow
011
II. Total decrease of cash flow from operating activities (008 – 011)
012
23.863.406
79.880.677
A1) NET INCREASE OF CASH FLOW FROM OPERATING ACTIVITIES (012-007)
013
85.580.923
0
A2) NET DECREASE OF CASH FLOW FROM OPERATING ACTIVITIES (012-007)
014
0
4.234.894
CASH FLOWS FROM INVESTMENT ACTIVITIES
1. Cash inflows from sale of fixed intangible and tangible assets
015
2. Cash inflows from sale of ownership and debt instruments
016
017
3. Cash inflows from interest
4. Cash inflows from dividends
018
7.895.757
16.709.480
5. Other cash inflows from investment activities
019
III. Total cash inflows from investment activities (015-019)
020
7.895.757
16.709.480
1. Cash expenditures for purchase of fixed tangible and intangible assets
021
11.766.621
22.071.684
2. Cash expenditures for acquisition of ownership and debt instruments
022
3. Other cash expenditures from investment activities
023
IV. Total cash expenditures from investment activities (021-023)
024
11.766.621
22.071.684
B1) NET INCREASE OF CASH FLOW FROM INVESTMENT ACTIVITIES (020-024)
025
0
0
B2) NET DECREASE OF CASH FLOW FROM INVESTMENT ACTIVITIES (024-020)
026
3.870.864
5.362.204
CASH FLOW FROM FINANCIAL ACTIVITIES
1. Cash inflows from issuing ownership and debt financial instruments
027
2. Cash inflows from credit principal, debentures, loans and other borrowings
028
90.425.747
3. Other inflows from financial activities
029
31.530.900
V. Total cash inflows from financial activities (027-029)
030
31.530.900
90.425.747
1. Cash expenditures for the payment of credit principal and debentures
031
1.152.079
2. Cash expenditures for the payment of dividends
032
29.822.493
33.849.849
3. Cash expenditures for financial lease
033
57.463.289
5.110.464
4. Cash expenditures for repurchase of own shares
034
035
5. Other cash expenditures from financial activities
22.914.676
39.856.826
VI. Total cash expenditures from financial activities (031-035)
036
111.352.537
78.817.139
C1) NET INCREASE OF CASH FLOW FROM FINANCIAL ACTIVITIES (030-036)
037
0
11.608.608
C2) NET DECREASE OF CASH FLOW FROM FINANCIAL ACTIVITIES (036-030)
038
79.821.637
0
Total cash flow increase (013-014+025-026+037-038)
039
1.888.422
2.011.510
Total cash flow decrease (014-013+026-025+038-037)
040
0
0
Cash and cash equivalents at the beginning of the period
041
3.228.873
1.187.681		 CASH FLOW REPORT – Indirect method
in period from 01.01.2012. till 30.09.2012.
Cash and cash equivalents increase 042 1.888.422 2.011.510
Cash and cash equivalents decrease
043
Cash and cash equivalents at the end of the period
044
5.117.295
3.199.191
REPORT ON CHANGES TO CAPITAL
for period
1.1.2012
till
30.9.2012
Taxpayer: AD Plastik d.d.
ITEM AOP
ind.		 Preceding
year		 Current year
1 2 3 4
1. Subscribed capital 001 419.958.400 419.958.400
2. Capital reserves 002 183.075.797 183.075.797
3. Reserves from profit 003 6.801.736 21.569.250
4. Retained profit or loss carried over 004 0 0
5. Current year profit or loss 005 51.835.702 36.952.450
6. Revalorisation of fixed material assets 006
7. Revalorisation of intangible assets 007
8. Revalorisation of financial assets available for sale 008
9. Other revalorisation 009 10.185.353 10.185.354
10. Total capital and reserves (AOP 001-009) 010 671.856.988 671.741.251
11.Exchange rate variations from net investments into foreign business 011
12.Current and deferred taxes (part) 012
13.Cash flow protection 013
14.Changes in bookkeeping policies 014
15.Correction of significant mistakes from the previous period 015
16.Other changes to capital 016
17. Total capital increase or decrease (AOP 011 - 016) 017 0 0
17a. Ascribed to holders of the holders company capital 018
17b. Ascribed to minority interest 019

d) Statement of the person responsible for the financial report

According to my best knowledge:

    1. Unaudited financial reports for the period from 01.01.till 30.06.2012. were implemented with corresponding reporting standards, giving complete and truthful overview of the asset, liabilities, profit and loss, financial status and operations of the issuer and the companies who are included in the consolidation
    1. Report contains truthful overview of the development and business result and issuer status and companies who were included in the consloidation, with a description of significant risks and uncertainties to which the issuer and the companies are exposed as whole.

Marica Jakelić Katija Klepo

Director of Finance and Accounting Management Board member responsible for accounting, finance and controlling

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