Management Interim Report of AD Plastik Group and the company AD Plastik Inc. Solin for 2013 Temporary unaudited financial report

Solin, February 2014

Contents

		page
	a) Managеment Interim Report of AD Plastik Group and the Company AD Plastik Inc. Solin for the period 01.01.-31.12.2013	2
	b) Financial reports of AD Plastik Group	6
1.	Balance sheet	8
2.	Profit and loss account	10
3.	Cash flow (indirect method)	12
4.	Report on changes to capital	13
	c) Financial reports of the Company AD Plastik Inc. Solin	14
5.	Balance sheet	16
6.	Profit and loss account	18
7.	Cash flow (indirect method)	20
8.	Report on changes to capital	21
	d) Statement of the person responsible for drafting the financial reports	22

a) Management Interim Report of AD Plastik Group and the Company AD Plastik Inc. Solin for the period 01.01.-31.12.2013

Financial results of the Group for the period 01.01.-31.12.2013

Indicator	01.01.- 31.12.2012.	01.01.- 31.12.2013.	Rate of change %
Sales revenue (thousands of HRK)	756.035	816.030	7,94 %
Net profit (thousands of HRK)	56.017	27.140	-51,55%

In 2013 AD Plastik Group achieved a sales revenue growth of 7,94%, compared to the previous year. The reporting year for AD Plastik Group was marked by a high number of developmental projects. Therefore, the revenue growth in this year is mostly related to the inrease of revenues from development and manufacture of tools and to the increase of sales of products on new locations. The most important reasons for the decrease of profitability in 2013 are:

A lower level of loading than the planned one for the plants in Croatia, and new plants in Kaluga and Mladenovac due to the prolongation of the start of production of new vehicles
The fall in the exchange rate of the Russian Ruble against the EUR

In order to reduce further impact of exchange rate volatility of Russian Ruble against the EUR at the end of the previous year, we increased the hedging of Russian Ruble through forward contracts. With changes of selling prices of products in accordance with foreign exchange rate and with localization of material suppliers we will further reduce the curreny risk.

With the aim of achieving a clearer picture on business of AD Plastik Group, we created an abbreviated consolidated profit and loss account of AD Plastik Group with the consolidated profit and loss account of affiliated companies Euro APS, Romania and FADP, Russia for the 2012 and 2013, in which AD Plastik Group has 50%, that is 40% of ownership.

Table 2. Profit and loss account of AD Plastik Group with consolidation of correspondent part of
ownership in Euro APS and FADP for the 2013 in thousands of HRK

	AD Plastik Group with	AD Plastik Group with
Positions	consolidation of belonging	consolidation of belonging
	part of ownership in	part of ownership in
	EURO APS and FADP	EURO APS and FADP
	2012.	2013.
OPERATING REVENUES	1.281.207	1.363.649
Sales revenue	1.255.623	1.333.306
Other revenues	25.585	30.343
OPERATING EXPENSES	1.194.870	1.283.082
Material expenses	793.530	772.126
Staff costs	191.548	214.224
Amortization	69.712	68.745
Other expenses	140.081	227.987
FINANCIAL REVENUES	24.240	16.010
FINANCIAL EXPENSES	44.691	63.078
TOTAL REVENUE	1.305.447	1.379.660
TOTAL EXPENSES	1.239.561	1.346.161
Profit before taxation	65.886	33.499
Profit tax	9.869	6.360
PROFIT FOR THE PERIOD	56.017	27.140

From the consolidated report it is evident that EBITDA (Earnings before interests, taxes, deprecation and amortization) in 2013, compared to the year 2012, is minimally corrected by 4.3%, and it amounts to 149,3 milion HRK, in contrast to 156,05 milion HRK, which was the amount of the year 2012.

Below we are presenting the most important events in 2013 per companies of AD Plastik Group.

AD Plastik Inc., Solin

In the Parent company a larger part of activities was completed related to the preparations for the Edison project in Croatia. A serial production of the vehicle Renault "Twingo" is planned in April of this year. The assembly of the new painting line is completed and the trial productions began. Expansion of the building for the injection molding area in Zagreb has also been finalized. Likewise, the expansion of injection molding capacity continued for the plants in Zagreb and Solin. We agreed additional quantities of interior products for VW vehicles, with the planned start of serial production in the third quarter of this year. The expected revenue from this project is higher than 3 milion EUR during its complete duration. Likewise, we agreed business deal for exteriors for redesigned vehicle Renault Clio. The expected revenue from this deal is higher than 5 milion EUR during its complete duration.

On the basis of realized investments in Croatia for the project Edison and according to the solution of Ministry of Economy, it is planned to use the reduced rates of income tax (from 20% to 0%), also in 2013.

At the General Assembly in July a decision on dividend payment was made in total amount of 8,00 HRK per share.

ADP Mladenovac, Serbia

We finished industrialization of the new project of headliners for Edison. Expected start of production is April of this year.

In the reporting period we agreed business deal with Fiat for the production of grab handles for the buyer's plants in Italy and Serbia. By the end of the 2013 we decided to install injection moulding technology in this plant.

With Renault Group we agreed business deal for the production of grab handles, and the start of serial production is planned in the third quarter of 2014. The expected revenue from this deal is higher than 4 milion EUR during the complete duration of this project.

ADP Kaluga, Russia

In the third quarter in Kaluga started the production in technology of injection moulding. We started production in the blow molding technology within the project X52 i H79. The production for the technology of sun-visors started in September and deliveries for the project X52 began.

In the reporting period with Renault Russia we agreed business deal for production of parts for interior and exterior for H79 Ph 2 (Duster) with the deliveries in 2015. The expected revenue from this deal is higher than 25 milion EUR during the complete duration of this project.

ZAO PHR (ADP Togliatti, Russia)

In reporting period we completed the activities for the realization of the project X52, and the serial production started.

In the following period this project should ensure a stable revenue growth for this plant. The organizational changes are in progress in order to optimize the costs of the company, incurred due to the production volume growth and the acceptance of large number of new projects.

It was made a new deal for the production of interior positions for the vehicle Chevrolet Niva. The expected revenue from this deal amounts to about 10 milion EUR during the complete duration of this project.

EURO APS, Romania

The achieved realization of this year is higher than the planned one, as the result of the good sales of the model Dacia Sandero. New models of Dacia are well accepted on the market, so the full capacity of this plant has been achieved also in this year.

In the reporting period it was paid the correspondent part of the dividend, related to profit of 2012 in the amount of 26,93 milion HRK.

FADP Luga, Russia

The achieved sales realization in 2013 is lower than the planned one due to the reduced production of Ford vehicles in Russia. In the second quarter FADP was nominated for the production of interior parts for the following Nissan vehicles (P32R (the new xtrail) & P32S (the new Qashqai) with the start of serial production in 2014 and 2015.

On 31.12.2013 the Group had 2.813 employees, out of that 894 in the parent company AD Plastik Inc. Solin.

In the Group`s balance sheet positions relative to December 31st, 2012 the greatest changes were recorded in these positions:

(AOP 017) Tangible assets in preparation (increase of 108,23 million HRK) due to the realization of investments;
(AOP 059) Prepayments and accrued income (increase of 61,03 million HRK) due to the higher investments in tools, which will be sold to and collected from the buyer;
(AOP 083) Long-term liabilities (increased for 63,57 milion HRK) for external financing for the realization of the investment cycle;
(AOP 098) Trade payables (increased for 31,61 milion HRK) due to the realization of investments ;
(AOP 106) Deferred payment of costs and future income (increased for 33,04 milion HRK) due to accrued, but unbilled income from tools whose manufacture is in process

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

b) Financial reports of AD Plastik Group

Appendix 1
Reporting period:				01.01.2013.		till	31.12.2013.

						Annual financial statement of the entrepreneur - GFI-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:	2.813
							(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	103630022193


			AD PLASTIK d.o.o.			Novo Mesto, Slovenija	1214985000

			ZAO ADP LUGA			Luga, Ruska Federacija	107471000032

			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. Unaudited annual Financial statements
	2. Annual report,
	3.Statement of the person responsible for compiling financial statements.



				Place of the seal			(signature of the person authorised for representation)

Balance sheet Assets

BALANCE SHEET as at 31.12.2013.

Taxpayer: GROUP AD PLASTIK	AOP	Preceding
ITEM	ind.	year	Current year
1	2	3	4
ASSETS
A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID B) FIXED ASSETS (003+010+020+029+033)	001 002	820.046.044	1.000.058.804
I. INTANGIBLE ASSETS (004 up to 009)	003	60.810.611	95.714.402
1. Development costs	004	44.057.692	63.642.430
2. Concessions, patents, licenses, trademarks, softwares and other rights	005	2.859.076	6.081.747
3. Goodwill	006
4. Advances for purchase of intangible assets	007
5. Intangible assets in preparation	008	12.091.745	23.720.690
6.Other intangible assets II. TANGIBLE ASSETS (011 up to 019)	009 010	1.802.098 597.798.038	2.269.535 734.920.017
1. Land	011	139.976.599	139.976.599
2. Buildings	012	231.738.664	233.212.190
3. Plants and machinery	013	154.541.151	180.277.439
4. Tools, plant & office inventory, furniture & transport means	014	15.792.174	15.629.764
5. Biological assets	015
6. Payments on account for tangible assets	016	3.724.237	5.572.096
7. Tangible assets in preparation	017	52.025.213	160.251.929
8. Other tangible assets	018
9. Investment in real estate	019
III. FIXED FINANCIAL ASSETS (021 up to 028) 1. Shares in affiliated undertakings	020 021	158.750.072	167.431.738
2. Loans to affiliated undertakings	022
3. Participating interests (shares)	023	86.235.074	102.757.752
4. Given loans to companies in which exist participating interests	024	55.332.855	50.102.505
5. Investments in securities	025	63.855	63.855
6. Other loan, deposits etc	026	17.118.288	14.507.626
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 V. DEFFERED TAX ASSETS	032 033
C) CURRENT ASSETS (035+043+050+058)	034	2.687.323 381.334.322	1.992.647 363.553.550
I. INVENTORY (036 up to 042)	035	83.985.115	96.945.615
1. Materials and supplies	036	54.085.388	63.937.801
2. Work in progress	037	1.999.734	3.687.879
3. Finished goods	038	11.622.054	19.964.645
4. Commercial goods	039	14.767.520	8.537.183
5. Advances for inventories	040	1.006.842	818.107
6. Long term assets held for sale	041	503.577
7. Biological assets	042
II. RECEIVABLES (044 up to 049)	043	264.336.788	221.036.745
1. Receivables from associated undertakings 2. Trade receivables	044 045
3. Receivables from participating companies	046	165.503.190 20.493.499	136.665.781 11.917.016
4. Receivables from employees and members of the business	047	987.605	597.479
5. Receivables from government and other institutions	048	35.062.034	24.354.369
6. Other receivables	049	42.290.460	47.502.100
III. CURRENT FINANCIAL ASSETS (051 up to 057)	050	20.452.674	16.803.056
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	18.546.823	16.793.680
5. Investments in to securities	055
6. Other loan, deposits etc	056	1.905.851	9.376
7. Other financial assets IV. CASH AT BANK AND IN HAND	057 058	12.559.745	28.768.134
D) PREPAYMENTA AND ACCRUED INCOME	059	102.495.507	163.780.538
E) TOTAL ASSETS (001+002+034+059)	060	1.303.875.873	1.527.392.892
F) OUT-OF-BALANCE ITEMS	061	14.375.219	4.592.542

Liabilities

LIABILITIES
A) CAPITAL AND RESERVES (063+064+065+071+072+075+078)	062	714.629.506	704.495.468
I. SUBSCRIBED SHARE CAPITAL	063	419.958.400	419.958.400
II. CAPITAL RESERVES	064	183.549.251	183.508.545
III. RESERVES FROM GAIN (066+067-068+069+070)	065	20.873.657	34.625.915
1. Legal reserves	066	6.143.100	6.142.459
2. Reserves for own shares	067	4.276.231	4.753.103
3. Own stocks and shares (deductible item)	068	4.276.231	4.753.103
4. Statutory reserves	069	37.659	38.119
5. Other reserves	070	14.692.898	28.445.337
IV. REVALUATION RESERVES	071	10.185.353	10.185.353
V. RETAINED EARNINGS OR LOSS BROUGHT FORWARD (073-074)	072	24.029.382	29.059.231
1. Retained earnings	073	24.029.382	29.059.231
2. Loss brought forward	074
VI. CURRENT YEAR PROFIT OR LOSS (076-077)	075	56.017.396	27.147.836
1. Current year profit	076	56.017.396	27.147.836
2. Current year loss	077
VII. MINOR INTEREST	078	16.067	10.188
B) PROVISIONS (080 up to 082)	079	11.373.629	8.074.578
1. Provisions for pensions, severance pay and similar obligations	080	2.497.550	1.084.238
2. Provisions for tax liabilities	081	346.972
3. Other provisions	082	8.529.107	6.990.340
C) LONG TERM LIABILITIES (084 up to 092)	083	201.689.845	264.962.665
1. Liabilities to related parties	084
2. Commitments for loans, deposits, etc	085		6.092.179
3. Liabilities to banks and other financial institutions	086	201.618.482	258.644.570
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	71.363	225.916
D) SHORT TERM LIABILITIES (094 do 105)	093	374.465.948	515.104.557
1. Liabilities to related parties	094
2. Commitments for loans, deposits, etc	095
3. Liabilities to banks and other financial institutions	096	126.711.618	230.746.267
4. Liabilities for advances	097	98.538.857	94.565.361
5. Trade payables	098	123.492.269	155.605.827
6. Commitments on securities	099
7. Liabilities to companies in which are participating interests	100	291.254	32.480
8. Liabilities towards employees	101	8.242.594	8.624.454
9. Liabilities for taxes, contributions and other benefits	102	10.631.598	18.972.140
10. Liabilities to share in the result	103	374.754	27.856
11. Amount based on fixed assets intended to sale	104
12. Other short-term liabilities	105	6.183.004	6.530.172
E) DEFERRED PAYMENT OF COSTS AND FUTURE INCOME	106	1.716.945	34.755.624
F) TOTAL LIABILITIES (062+079+083+093+106)	107	1.303.875.873	1.527.392.892
G) OUT-OF BALANCE ITEMS	108	14.375.219	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	714.613.439	704.485.280
2. Ascribed to minority interest	110	16.067	10.188

2. Profit and loss account

PROFIT AND LOSS ACCOUNT
in period from 01.01.2013. till 31.12.2013.

Taxpayer: GROUP AD PLASTIK
ITEM	AOP	Preceding	Current year
1	ind.	year
I. OPERATING TURNOVER (112+113)	2 111	3	5
1. Income from sales	112	781.714.691 756.035.092	832.910.369 816.030.530
2. Other operating income	113	25.679.599	16.879.839
II. OPERATING CHARGES (115+116+120+124+125+126+129+130)	114	743.414.634	813.615.660
1. Changes in the value of inventories of work in progress and finished goods	115	527.471	-9.348.612
2. Material charges (117 up to 119)	116	493.463.307	462.224.475
a) Costs of raw materials and consumables	117	387.908.814	377.099.081
b) Costs of sales	118	43.549.172	32.244.258
c) Other external charges	119	62.005.321	52.881.136
3. Staff costs (121 up to 123)	120	134.108.670	151.052.551
a) Salaries and wages	121	83.541.009	94.615.244
b) Costs of taxes and social security	122	27.460.573	29.908.071
c) Duties on wages	123	23.107.088	26.529.236
4. Depreciation	124	54.136.069	50.665.461
5. Other costs	125	55.083.007	146.597.965
6. Impairment (127+128)	126	0	0
a) fixed assets (excluding financial assets)	127
b) current assets (excluding financial assets)	128
7. Provisions	129	2.102.888	7.014.399
8. Other operating expenses	130	3.993.222	5.409.421
III. FINANCIAL INCOME (132 up to 136)	131	33.606.607	24.310.204
1. Interests, exchange rate differenc, dividends with affiliates	132	12.760.205	3.527.822
2. Interests, exch. rate differenc., dividends with non-affiliates	133	11.216.546	12.429.951
3. Part of income from affiliates and participated interests	134	9.626.824	8.314.536
4. Non-realized financial income	135
5. Other financial income	136	3.032	37.895
IV. FINANCIAL CHARGES (138 up to 141)	137	41.225.275	59.985.215
1. Interests, exchange rate differenc, dividends with affiliates	138	7.823.203	11.697.405
2. Interests, exch. rate differenc., dividends with non-affiliates	139	33.401.808	48.006.025
3. Non-realized financial charges	140
4. Other financial charges	141	264	281.785
V. SHARE OF PROFIT FROM ASSOCIATED COMPANIES	142	29.793.058	43.453.336
VI. SHARE OF LOSS FROM ASSOCIATED COMPANIES	143
VII. EXTRAORDINARY – OTHER INCOME	144
VIII. EXTRAORDINARY – OTHER CHARGES	145
IX. TOTAL INCOME (111+131+142 + 144)	146	845.114.356	900.673.909
X. TOTAL CHARGES (114+137+143 + 145)	147	784.639.909	873.600.875
XI. PROFIT OR LOSS BEFORE TAXATION (146-147)	148	60.474.447	27.073.034
1. Profit before taxation (146-147)	149	60.474.447	27.073.034
2. Loss before taxation (147-146)	150	0	0
XII. PROFIT TAX	151	4.449.212	-66.935
XIII. PROFIT OR LOSS FOR THE PERIOD (148-151)	152	56.025.235	27.139.969
1. PROFIT FOR THE PERIOD (149-151)	153	56.025.235	27.139.969
2. LOSS FOR THE PERIOD (151-148)	154	0	0

2. Profit and loss account– extension

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	56.017.396	27.147.836
2. Attributable to minority interests	156	7.839	-7.867
Report for other comprehensive income (only for the taxpayer applying IFRS)
I. PROFIT OR LOSS FOR THE CURRENT PERIOD (= 152)	157	56.025.235	27.139.969
II. OTHER COMPREHENSIVE INCOME / LOSS BEFORE TAXATION (159 up to 165)	158	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
V. OTHER COMPREHENSIVE PROFIT OR LOSS FOR THE PERIOD (157+167)	168	56.025.235	27.139.969
ADDENDUM TO Report for other comprehensive income (filled in by the entrepreneur compiling the consolidated annual
VI. OTHER COMPREHENSIVE PROFIT OR LOSS FOR THE PERIOD
1. Attributable to equity holders	169	56.017.396	27.147.836
2. Attributable to minority interests	170	7.839	-7.867

3. Cash flow (indirect method)

in period from 01.01.2013. till 31.12.2013. Taxpayer: GROUP AD PLASTIK AOP Preceding ITEM Current year year ind. 1 2 3 4 CASH FLOW FROM OPERATING ACTIVITIES 1. Profit before taxation 60.474.447 27.073.034 001 2. Depreciation 002 54.136.069 50.665.461 3. Increase of current liabilities 003 203.999.559 4. Decrease of current receivables 004 5. Decrease in stocks 005 6. Other increase of cash flow 006 694.676 I. Total increase of cash flow from operating activities (001 - 006) 007 114.610.516 282.432.730 1. Decrease of current liabilities 008 33.253.484 2. Increase of current receivables 009 49.286.283 44.523.400 3. Increase in stocks 010 10.989.343 12.960.500 4. Other decrease of cash flow 011 1.692.911 II. Total decrease of cash flow from operating activities (008 – 011) 012 95.222.021 57.483.900 A1) NET INCREASE OF CASH FLOW FROM OPERATING ACTIVITIES (012-007) 013 19.388.495 224.948.830 A2) NET DECREASE OF CASH FLOW FROM OPERATING ACTIVITIES (012-007) 014 0 0 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 36.593.971 26.538.412 5. Other cash inflows from investment activities 019 III. Total cash inflows from investment activities (015-019) 020 36.593.971 26.538.412 1. Cash expenditures for purchase of fixed tangible and intangible assets 021 133.364.749 222.691.231 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) 024 133.364.749 222.691.231 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 96.770.778 196.152.819 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 028 171.289.434 63.272.820 3. Other inflows from financial activities 029 V. Total cash inflows from financial activities (027-029) 030 171.289.434 63.272.820 1. Cash expenditures for the payment of credit principal and debentures 031 40.471.302 5.032.048 2. Cash expenditures for the payment of dividends 032 33.849.849 33.621.322 3. Cash expenditures for financial lease 033 5.593.361 4. Cash expenditures for repurchase of own shares 034 3.955.712 418.936 5. Other cash expenditures from financial activities 035 4.989.469 36.788.136 VI. Total cash expenditures from financial activities (031-035) 036 88.859.693 75.860.442 C1) NET INCREASE OF CASH FLOW FROM FINANCIAL ACTIVITIES (030-036) 037 82.429.741 0 C2) NET DECREASE OF CASH FLOW FROM FINANCIAL ACTIVITIES (036-030) 038 0 12.587.622 Total cash flow increase (013-014+025-026+037-038) 039 5.047.458 16.208.389 Total cash flow decrease (014-013+026-025+038-037) 040 Cash and cash equivalents at the beginning of the period 041 7.512.287 12.559.745 Cash and cash equivalents increase 042 5.047.458 16.208.389 Cash and cash equivalents decrease 043 Cash and cash equivalents at the end of the period 044 12.559.745 28.768.134	CASH FLOW REPORT – Indirect method

4. Report on changes to capital

		REPORT ON CHANGES TO CAPITAL
	for period	1.1.2013	till	31.12.2013

Taxpayer: GROUP AD PLASTIK
					AOP	Preceding	Current
		ITEM			ind.	year	year
		1			2	3	4
1. Subscribed capital					001	419.958.400	419.958.400
2. Capital reserves					002	183.549.251	183.508.545
3. Reserves from profit					003	20.889.724	34.636.103
4. Retained profit or loss carried over					004	24.029.382	29.059.231
5. Current year profit or loss					005	56.017.396	27.147.836
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	714.629.506	704.495.468
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	714.613.439	704.485.280
17b. Ascribed to minority interest					019	16.067	10.188

c) Financial reports of the Company AD Plastik Inc. Solin

Appendix 1
Reporting period:				01.01.2013.		till	31.12.2013.
						Annual financial statement of the entrepreneur - GFI-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: (at the end of the trimester)	894
	Consolidated report:	NO					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. Unaudited annual Financial statements
	2. Annual report
	3.Statement of the person responsible for compiling financial statements.

				Place of the seal			(signature of the person authorised for representation)

BALANCE SHEET as at 31.12.2013.

Taxpayer: AD PLASTIK d.d.	AOP	Preceding
ITEM	ind.	year	Current year
1	2	3	4
ASSETS
A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID B) FIXED ASSETS (003+010+020+029+033)	001 002
I. INTANGIBLE ASSETS (004 up to 009)	003	700.008.260 38.715.826	844.494.339 58.817.539
1. Development costs	004	38.405.748	55.142.444
2. Concessions, patents, licenses, trademarks, softwares and other rights	005	310.078	3.675.095
3. Goodwill	006
4. Advances for purchase of intangible assets	007
5. Intangible assets in preparation	008
6.Other intangible assets	009
II. TANGIBLE ASSETS (011 up to 019)	010	426.152.996	500.426.584
1. Land 2. Buildings	011 012	139.976.599 166.527.004	139.976.599 163.569.130
3. Plants and machinery	013	101.342.120	89.953.041
4. Tools, plant & office inventory, furniture & transport means	014	5.713.290	8.416.379
5. Biological assets	015
6. Payments on account for tangible assets	016
7. Tangible assets in preparation	017	12.593.983	98.511.435
8. Other tangible assets	018
9. Investment in real estate	019
III. FIXED FINANCIAL ASSETS (021 up to 028)	020	234.699.239	284.719.815
1. Shares in affiliated undertakings	021	87.364.576	89.694.982
2. Loans to affiliated undertakings 3. Participating interests (shares)	022 023	22.508.280	78.039.462
4. Given loans to companies in which exist participating interests	024	52.311.385 55.332.855	52.311.385 50.102.505
5. Investments in securities	025	63.855	63.855
6. Other loan, deposits etc	026	17.118.288	14.507.626
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	440.199 311.946.588	530.401 362.645.947
I. INVENTORY (036 up to 042)	035	30.973.343	37.351.287
1. Materials and supplies	036	20.458.912	23.857.477
2. Work in progress	037	1.744.727	1.853.645
3. Finished goods	038	8.176.918	11.064.193
4. Commercial goods	039	592.786	575.972
5. Advances for inventories	040
6. Long term assets held for sale	041
7. Biological assets	042
II. RECEIVABLES (044 up to 049)	043	240.879.136	267.675.847
1. Receivables from associated undertakings 2. Trade receivables	044 045	119.032.742 44.017.566	144.490.516 55.959.929
3. Receivables from participating companies	046	20.493.499	11.917.016
4. Receivables from employees and members of the business	047	902.808	537.181
5. Receivables from government and other institutions	048	20.299.579	15.149.419
6. Other receivables	049	36.132.942	39.621.786
III. CURRENT FINANCIAL ASSETS (051 up to 057)	050	33.740.518	43.087.764
1. Shares in affiliated undertakings	051
2. Loans to affiliates	052	13.287.844	26.284.708
3. Participating interests (shares)	053
4. Given loans to companies in which exist participating interests 5. Investments in to securities	054 055	18.546.823	16.793.680
6. Other loan, deposits etc	056	1.905.851	9.376
7. Other financial assets	057
IV. CASH AT BANK AND IN HAND	058	6.353.591	14.531.049
D) PREPAYMENTA AND ACCRUED INCOME	059	102.146.385	119.261.092
E) TOTAL ASSETS (001+002+034+059)	060	1.114.101.233	1.326.401.378
F) OUT-OF-BALANCE ITEMS	061	4.592.542	4.592.542

Balance sheet – Liabilities

LIABILITIES
A) CAPITAL AND RESERVES (063+064+065+071+072+075+078)	062	678.808.628	685.896.257
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	20.821.750	34.574.189
1. Legal reserves	066	6.128.852	6.128.852
2. Reserves for own shares	067	4.334.167	4.753.103
3. Own stocks and shares (deductible item)	068	4.334.167	4.753.103
4. Statutory reserves	069
5. Other reserves	070	14.692.898	28.445.337
IV. REVALUATION RESERVES	071	10.185.353	10.185.353
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	44.767.328	38.102.518
1. Current year profit	076	44.767.328	38.102.518
2. Current year loss	077
VII. MINOR INTEREST	078
B) PROVISIONS (080 up to 082)	079	9.658.648	6.002.894
1. Provisions for pensions, severance pay and similar obligations	080	2.200.995	1.084.238
2. Provisions for tax liabilities	081
3. Other provisions	082	7.457.653	4.918.656
C) LONG TERM LIABILITIES (084 up to 092)	083	110.180.134	204.715.674
1. Liabilities to related parties	084	11.004.034	11.138.228
2. Commitments for loans, deposits, etc	085
3. Liabilities to banks and other financial institutions	086	99.176.100	193.577.446
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	313.797.876	411.453.141
1. Liabilities to related parties	094	21.858.372	7.212.655
2. Commitments for loans, deposits, etc	095
3. Liabilities to banks and other financial institutions	096	114.764.383	207.285.015
4. Liabilities for advances	097	92.422.532	70.849.286
5. Trade payables	098	75.832.705	107.092.073
6. Commitments on securities	099
7. Liabilities to companies in which are participating interests	100	291.254	32.480
8. Liabilities towards employees	101	5.285.104	5.630.417
9. Liabilities for taxes, contributions and other benefits	102	2.968.772	11.165.583
10. Liabilities to share in the result	103	374.754	27.856
11. Amount based on fixed assets intended to sale	104

12. Other short-term liabilities E) DEFERRED PAYMENT OF COSTS AND FUTURE INCOME	105 106		2.157.776
		1.655.947	18.333.412
F) TOTAL LIABILITIES (062+079+083+093+106)	107	1.114.101.233	1.326.401.378
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 01.01.2013. till 31.12.2013.















































2. LOSS FOR THE PERIOD (151-148)	154	0	0

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	44.767.328	38.102.518
II. OTHER COMPREHENSIVE INCOME / LOSS BEFORE TAXATION (159 up to 165)	158	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
V. OTHER COMPREHENSIVE PROFIT OR LOSS FOR THE PERIOD (157+167)	168	44.767.328	38.102.518
ADDENDUM TO Report for other comprehensive income (filled in by the entrepreneur compiling the consolidated annual
VI. OTHER COMPREHENSIVE PROFIT OR LOSS FOR THE PERIOD
1. Attributable to equity holders	169
2. Attributable to minority interests	170

CASH FLOW REPORT – Indirect method
in period from 01.01.2012. till 31.12.2013.

Taxpayer: AD PLASTIK d.d.
ITEM	AOP ind.	Preceding year	Current year
1	2	3	4
CASH FLOW FROM OPERATING ACTIVITIES
1. Profit before taxation	001	45.214.758	38.012.316
2. Depreciation	002	37.710.917	30.002.103
3. Increase of current liabilities	003		144.298.298
4. Decrease of current receivables	004
5. Decrease in stocks	005	3.989.010
6. Other increase of cash flow	006	447.430
I. Total increase of cash flow from operating activities (001 - 006)	007	87.362.115	212.312.717
1. Decrease of current liabilities	008	35.073.139
2. Increase of current receivables	009	58.797.231	92.244.287
3. Increase in stocks	010		6.377.944
4. Other decrease of cash flow	011		90.202
II. Total decrease of cash flow from operating activities (008 – 011)	012	93.870.370	98.712.433
A1) NET INCREASE OF CASH FLOW FROM OPERATING ACTIVITIES (012-007)	013	0	113.600.284
A2) NET DECREASE OF CASH FLOW FROM OPERATING ACTIVITIES (012-007)	014	6.508.255	0
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	4.526.322	21.794.457
4. Cash inflows from dividends	018	36.593.971	26.538.412
5. Other cash inflows from investment activities	019
III. Total cash inflows from investment activities (015-019)	020	41.120.293	48.332.869
1. Cash expenditures for purchase of fixed tangible and intangible assets	021	40.916.888	124.377.404
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	40.916.888	124.377.404
B1) NET INCREASE OF CASH FLOW FROM INVESTMENT ACTIVITIES (020-024)	025	203.405	0
B2) NET DECREASE OF CASH FLOW FROM INVESTMENT ACTIVITIES (024-020)	026	0	76.044.535
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	109.648.390	94.535.540
3. Other inflows from financial activities	029
V. Total cash inflows from financial activities (027-029)	030	109.648.390	94.535.540
1. Cash expenditures for the payment of credit principal and debentures	031	20.471.302	59.367.822
2. Cash expenditures for the payment of dividends	032	33.849.849	33.621.322
3. Cash expenditures for financial lease	033	5.593.361
4. Cash expenditures for repurchase of own shares	034	3.955.712	418.936
5. Other cash expenditures from financial activities	035	34.307.406	30.505.751
VI. Total cash expenditures from financial activities (031-035)	036	98.177.630	123.913.831
C1) NET INCREASE OF CASH FLOW FROM FINANCIAL ACTIVITIES (030-036)	037	11.470.760	0
C2) NET DECREASE OF CASH FLOW FROM FINANCIAL ACTIVITIES (036-030)	038	0	29.378.291
Total cash flow increase (013-014+025-026+037-038)	039	5.165.910	8.177.458
Total cash flow decrease (014-013+026-025+038-037)	040	0	0
Cash and cash equivalents at the beginning of the period	041	1.187.681	6.353.591
Cash and cash equivalents increase	042	5.165.910	8.177.458
Cash and cash equivalents decrease	043
Cash and cash equivalents at the end of the period	044	6.353.591	14.531.049

8. Report on changes to capital

REPORT ON CHANGES TO CAPITAL
	for period	1.1.2013	till		31.12.2013

Taxpayer: AD PLASTIK d.d.
						AOP	Preceding	Current
		ITEM				ind.	year	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	20.821.750	34.574.189
4. Retained profit or loss carried over						004
5. Current year profit or loss						005	44.767.328	38.102.518
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		678.808.628 685.896.257
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
17b. Ascribed to minority interest			019

d) Statement of the person responsible for drafting the financial reports

According to the best of my knowledge:

1. Unaudited financial reports of AD Plastik Group and the Company AD Plastik Inc. Solin for the period of 01.01. - 31.12.2013, have been prepared in accordance with the application of corresponding financial reporting standards, they give a complete and true view of the assets and liabilities, profit and loss, a financial position and business of the issuer and the companies included in the consolidation as a whole.
1. Managing report gives a true view of development of results and business and the position of the issuer and companies included in the consolidation, with the description of key risks and uncertainties to which the issuer and the company are exposed as a whole.
1. This report may contain certain statements concerning the future business of AD Plastik Group and the Company. The above forward-looking statements reflect the current views of the Company regarding future events and they are based on assumptions and they subject to risks and uncertainties. A large number of factors can cause that the actual results, performances or achievements of AD Plastik Group or the Company can be different from the results or performances expressed or implied in these forward-looking statements.

AI Terminal

AD Plastik d.d.

2080_10-k_2014-02-14_6ccef265-1551-476d-b6fb-3eebc48baab8.pdf