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Institut IGH d.d. — Interim / Quarterly Report 2011
Apr 29, 2011
2091_10-q_2011-04-29_76dc0bb0-3a33-4ea1-89b1-1e441d3f9eac.pdf
Interim / Quarterly Report
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Institut IGH d.d.
Janka Rakuše 1, 10000 Zagreb, CROATIA Tel: +385 1 6125 125, Fax: +385 1 6125 401, [email protected], www.igh.hr
REPORT BY THE COMPANY DIRECTOR ON BUSINESS OPERATIONS OF THE COMPANY INSTITUT IGH d.d. AND ITS SUBSIDIARY COMPANIES IN THE PERIOD FROM JANUARY 01 TO MARCH 31. 2011.
INSTITUT IGH d.d., Zagreb and its subsidiary companies deal with expert activities in testing, design and validation of projects, supervision and expert management of design in the field of architecture and civil engineering, as well as scientific and research activities.
The Institut IGH d.d. is connected with 19 subsidiary companies with the same main and similar activities, except one subsidiary company that deals in hotel management and tourism.
The seat of the holding corporation Institut IGH d.d., Zagreb is in Zagreb, Janka Rakuše 1, REG.NO: 3750272, TIN: 79766124714. Institut IGH d.d. with its subsidiary companies, on March 31, 2011 had 1170 employees.
Supervisory Board and Management Board of Institut IGH d.d.
Members of the Supervisory Board are:
Franjo Gregurić, PhD.BM, Supervisory Board President Aleksandar Čaklović, BSc.CE, Deputy Supervisory Board President Slavko Kojić, BSc.BM, Member Dinko Tvrtković, BSc.CE, Member Branko Kincl, Academician, Member Prof. Vlatka Rajčić, PhD, Member
Dielatnost: 73102 MB: 3750272 Poslovno banka: Zagrebačka banka d.d. Zagreb, Paromlinska 2
2360000-1101243767 devizni račun
kod Zagrebačke banke d.d. Zagreb: 2100085026 OIB 79766124714
žiro-ročua
Mjerodavni sud-Trgovački sud u Zagrebu, registarski uložak s matičnim brojem (MBS) 080000959
Temeljni kapital:
63.432.000,00 kn uplaćen u cijelosti Broj izdanih dionica: 158.580, nominalno vrijednost dionice 400 km
Uptava prof. dr.sc. Jure Radić, direktor. zastupa društvo pojedinačno i samostalno Nodzorni odbor: dr.sc. Franjo Gregurić, predsjednik
SPLIT 21 000 Matice hrvatske 15 Tel:021/558-666 Fax:021/465-335
RIJEKA 51 000 Slavka Tomašića 5 Tel:051/206-100 Fax:051/206-106
OSIJEK 31 000 Drinska 18 Tel:031/253-101 Fax:031/253-104
VARAŽDIN 42 000 Hallerova aleja 7 Tel:042/210-970, 042/210-722 Fox:042/211-285
DUBROVNIK 20 000 Vukovarska 8 Tel:020/412-489, 020/411-628 Fax:020/412-489
PULA 52 100 Rizzijeva 40 Tel:052/508-220 Fax:052/508-221
KARLOVAC 47 000 Primorska 16 Tel:047/416-987, 047/416-988 Fax:047/416-989
SISAK 44 000 Ferde Hefelea b.b. Tel:044/571-255 Fax: 044/571-256
ZADAR 23 000 Dobriše Cesarića 1 Tel:023/220-910, 023/323-299 Fox:023/323-225
Institut IGH d.d.
Janka Rakuše 1, 10000 Zagreb, CROATIA Tel: +385 1 6125 125, Fax: +385 1 6125 401, [email protected], www.igh.hr
Ante Stojan, BSc.Arch, Member Management Board Member:
Prof.Jure Radić, PhD.CE, Director Equity Capital
Company Equity Capital amounts to 63.432.000 HRK, consisting of 158.580 regular shares, nominal value 400 HRK each.
Business activities of the Group Institut IGH d.d. in the period January 01 to March 31, 2011.
Institut IGH d.d and its subsidiary companies, in the period January 01 to March 31, 2011, realized a turnover from sales of services and products, amounting to 96 million HRK. Out of this, 7 million HRK was realized on the international market.
Consolidated business income amounts to 99 million HRK (income in the same period in 2010 amounted to 129 million HRK).
Operating expenses amount to 102 million HRK and are 15% less than in the same period last. This is especially manifested in the decrease of expenses for outsource services by 63%, and decrease in expenses for personnel by 10% in relation to the same period last year.
Financial income amounts to 17 million HRK, consisting of interest return and positive exchange rate difference in the amount of 1,5 million HRK, and profit from sale of shareholdings amounting to 15 million HRK.
SPLIT 21 000 Matice hrvatske 15 Tel:021/558-666 Fax: 021/465-335
RIJEKA 51 000 Slavka Tomašića 5 Tel:051/206-100 Fax:051/206-106
OSIJEK 31 000 Drinska 18 Tel:031/253-101 Fax:031/253-104
VARAŽDIN 42 000 Hallerova aleja 7 Tel:042/210-970, 042/210-722 Fax:042/211-285
DUBROVNIK 20 000 Vukovarska 8 Tel:020/412-489, 020/411-628 Fax:020/412-489
PULA 52 100 Rizzijeva 40 Tel:052/508-220 Fax:052/508-221
KARLOVAC 47 000 Primorska 16 Tel:047/416-987, 047/416-988 Fax:047/416-989
SISAK 44 000 Ferde Hefelea b.b. Tel:044/571-255 Fax:044/571-256
ZADAR 23 000 Dobriše Cesarića 1 Tel:023/220-910, 023/323-299 Fax:023/323-225
Dielatnost: 73102 MB: 3750272 Poslovno banko: Zagrebočko banka d.d Zagreb, Paromlinska 2 žiro-ročun 2360000-1101243767 devizni ročun kod Zagrebačke banke d.d. Zooreb: 2100085026 018 79766124714
Mjerodovni sud: Trgovački sud u Zagrebu, registarski ulažak. s matičnim brojem (MBS) 080000959
Temeljni kapital: 63.432.000,00 km uplačen u cijelosti Broj izdanih dionica: 158.580 nominalna wijednost dionice 400 kn
Uprava: prof. dr.sc. Jure Radić, direktor, zastupa društvo pojedinačno i samostalno Nadzarni adhar dr.sc. Franjo Gregurić, predsjednik
Institut IGH d.d.
Janka Rakuše 1, 10000 Zagreb, CROATIA Tel: +385 1 6125 125, Fax: +385 1 6125 401, [email protected], www.igh.hr
Financial expenses in the period January-March 2011 amount to 10 million HRK, and are at the level of financial expenses in the same period last year. Most part of financial expenses refers to interest on credits.
Institut IGH d.d. and its subsidiary companies, in the period January -March 2011 realized a consolidated gross income (before taxation) of 3,8 million HRK.
Net profit after taxation amounts to 2,8 million HRK. Since an income of 408 thousand HRK is credited to the minority holding, 2,3 million HRK belongs to the holding corporation capital owners. A decrease in the consolidated business income and profit in the subject period in relation to the same period of last year is a consequence of decreased construction and building activities due to recession, as well as stagnation of investments into construction of infrastructural facilities in Croatia. It is somewhat alleviated by the increase of business activities abroad.
Institut IGH d.d. and its subsidiary companies, as of the date of this Report have 176 million HRK of claims outstanding, and contracted but not yet completed jobs in the value of 688 million HRK.
Zagreb, April 29, 2011.
Director of Institut IGH, d.d. Prof. Wre Radić, PhD.CE
SPLIT 21 000 Matice hrvatske 15 Tel:021/558-666 Fax:021/465-335
RIJEKA 51 000 Slavka Tomašića 5 Tel:051/206-100 Fax:051/206-106
OSUEK 31 000 Drinska 18 Tel:031/253-101 Fax:031/253-104
VARAŽDIN 42 000 Hallerova aleia 7 Tel:042/210-970. 042/210-722 Fox:042/211-285
DUBROVNIK 20 000 Vukovarska 8 Tel:020/412-489, 020/411-628 Fax:020/412-489
PULA 52 100 Rizzijeva 40 Tel:052/508-220 Fax:052/508-221
KARLOVAC 47 000 Primorska 16 Tel:047/416-987, 047/416-988 Fax:047/416-989
SISAK 44 000 Ferde Hefelea b.b. Tel:044/571-255 Fax:044/571-256
ZADAR 23 000 Dobriše Cesarića 1 Tel:023/220-910, 023/323-299 Fax:023/323-225
Dielatnost: 73102 MB: 3750272 Poslovno banka Zagrebačko banka d.d. Zagreb, Paromlinska 2 žiro-ročun: 2360000-1101243767 devizni račun kod Zagrebačke banke d.d. Zoateb: 2100085026 018.79766124714
Mjerodavni sud: Trgovački sud u Zagrebu, reaistarski uložak s matičnim brojem (MBS) 080000959
Temeljni kapital 63.432.000,00 km upločen u cijelosti Broj izdanih dionica 158.580 nominalna vrijednost dionice 400 kn
Uprava prof. dr.sc. Jure Rodić, direktor, zastupa društvo pojedinačno i samostalno Nadzarni adhar dr.sr. Franjo Gregorić, predsjednik
MANAGEMENT'S STATEMENT ON THE RESPONSIBILITY FOR PREPARING FINANCIAL REPORTS FOR THE INSTITUT IGH GROUP, ZAGREB
The Company's Management has to ensure that the INSTITUT IGH, Zagreb, Group financial reports for the first quarter of 2011 are prepared in accordance with the Accountancy Law (Official Gazette 146/05) and in keeping with international accounting standards (Official Gazette 136/09, 08/10, 27/10, 65/10, 120/10) issued by the International Accounting Standards Board (IASB), so that these documents provide a true and unbiased picture of the Group's financial standing, business results, change in capital, and cash flow for the period under consideration.
After making due enquiries, the Management has a reasonable expectation that the Group has adequate resources to continue operation in the foreseeable future. Accordingly, the Management has prepared its financial reports under assumption that the Group will continue to operate for an unlimited period of time.
During preparation of financial reports, the Management is responsible:
- for the selection and, thereafter, for consistent use of appropriate accounting policies;
- for giving reasonable and sensible assessments and estimates;
- for applying valid financial reporting standards and for making public and explaining every materially significant discrepancy discovered in financial reports;
- for preparing financial reports under assumption of an unlimited period of operation, except in cases when such assumption is inappropriate.
The Management is responsible for keeping proper accountancy records that will depict, to an acceptable level of accuracy, the financial standing and business results of the Group, in full compliance with the Accountancy Law and international accounting standards issued by the International Accounting Standards Board (IASB). The Management is also responsible for protecting and safeguarding the Group's assets, and hence for undertaking every measure it deems necessary to prevent and discover cases of fraud and other illegal activity.
Signed on behalf of the Management:
Prof. Jure Radić, Ph.D. (Civ. Eng.), General Manager
Institut IGH, d.d. Zagreb Janka Rakuše 1 10000 Zagreb
29 April 2011
| Attachment 1. | ||
|---|---|---|
| Reporting period: | 01.01.2011 do |
31.03.2011 |
| Quarterly financial statement of the entrepreneur - TFI-POD | ||
| Tax number (MB): 03750272 |
||
| Company registration number 80000959 (MBS) |
||
| 79766124714 Personal identification number (OIB): |
||
| Issuing company: INSTITUT IGH D.D. | ||
| Postal code and place: 10000 |
ZAGREB | |
| Street and house number: JANKA RAKUŠE 1 | ||
| E-mail adress: [email protected] | ||
| Internet adress: http://www.institutigh.com | ||
| ZAGREB unicipality/city code and name: 133 |
||
| GRAD ZAGREB County code and name: 133 |
Number of employees 1.170 |
|
| Consolidated report: YES |
(quarter end) NKD code: 7219 |
|
| bmpanies of the consolidation subject (according to IFR! | Seat: | MB: |
| IGH MOSTAR D.O.O. | MOSTAR, BIŠĆE POLJE BB | 4227060470005 |
| GEOTEHNIKA INŽENJERING D.O.O. | ZAGREB, GRADIŠĆANSKA 26 | 01517597 |
| IGH PROJEKTIRANJE D.O.O. | ZAGREB, JANKA RAKUŠE 1 | 02441918 |
| INCRO D.O.O. | ZAGREB, BRANIMIROVA 71 | 01982516 |
| IGH ENERGIJA D.O.O. | ZAGREB, JANKA RAKUŠE 1 | 01819585 |
| FORUM CENTAR D.O.O. | ZAGREB, JAGODNJAK 17 | 01960229 |
| DUBROVAČKA INVESTICIJSKA GRUPA D.O.O. | DUBROVNIK, OBALA S. RADIĆA 20 | 01974378 |
| PROJEKT ŠOLTA D.O.O. | ZAGREB, JANKA RAKUŠE 1 | 02592363 |
| VOĐENJE PROJEKATA D.O.O. | ZAGREB, BIJENIČKA CESTA 8 | 02427648 |
| EKONOMSKO TEHNIČKI ZAVOD D.D. | OSIJEK, TRG A. STARČEVIĆA 7/II | 03013669 |
| PROJEKTNI BIRO PALMOTIĆEVA 45 D.O.O. | ZAGREB, PALMOTIĆEVA 45 | 03222853 |
| IGH KOSOVA Sha | PRIŠTINA, KOSOVO | |
| ARHITEKTURA THOLOS PROJEKTIRANJE D.O.O. | ZAGREB. LOPAŠIĆEVA 6 | 01605291 |
| HIDROINŽENJERING D.O.O. | ZAGREB, OKUČANSKA 30 | 03685110 |
| DP AQUA D.O.O. | ZAGREB, SREDNJACI 16 | 01907522 |
| TEHNIČKE KONSTRUKCIJE D.O.O. | ZAGREB, VLAŠKA 79 | 02405865 |
| MBM TERMOPROJEKT D.O.O. | ZAGREB, NIKOLA PAVIĆA 20 | 00335967 |
| CTP PROJEKT D.O.O. | ZAGREB, SAVSKA CESTA 144A | 02396173 |
| RADELJEVIĆ D.O.O. | ZAGREB, JANKA RAKUŠE 1 | 01938533 |
| Bookkeeping service: | |
|---|---|
| Contact person: SPINDERK JADRANKA | |
| (please enter only contact person's family name and name) Telefaks: 01 6125 404 Telephone: 01 6125 444 |
|
| E-mail adress: [email protected] | |
| Family name and name: prof. dr. JURE RADIĆ, dipl. ing. grad. (person authorized to represent the company) |
|
| Documents to be published: | 1. Financial statements (balance sheet, profit and loss statement, cash flow statement, statement of changes in equity, and notes to financial statements |
| 2. Statement of persons responsible for the drawing-up of financial statements 3. Report of the Management Board on the Company Status (signature of the person authorized to represent the company) 焉 |
|
| 991607 |
BALANCE SHEET as of 31.03.2011.
| aso ı ə ı. uə. zu i i. INSTITUT IGH D.D. |
|||
|---|---|---|---|
| Position | AOP | Previous period | Current period |
| 1 | $\overline{2}$ | 3 | 4 |
| A) RECEIVABLES FOR SUBSCRIBED AND NON - PAID CAPITAL | 001 | ||
| B) LONG - TERM ASSETS (003+010+020+029+033) I. INTANGIBLE ASSETS (004 to 009) |
002 003 |
734.137.704 33.959.545 |
757.106.108 34.280.853 |
| 1. Assets development | 004 | ||
| 2. Concessions, patents, licence fees, merchandise and service brands, software and other rights | 005 | 2.620.163 | 2.430.727 |
| 3. Goodwill | 006 | 28.719.956 | 28.657.969 |
| 4. Prepayments for purchase of intangible assets | 007 | ||
| 5. Intangible assets in preparation | 008 | 2.619.426 | 3.192.157 |
| 6. Other intangible assets | 009 | ||
| II. TANGIBLE ASSETS (011 to 019) | 010 | 525.741.469 | 521.456.489 |
| 1. Land | 011 | 91.866.993 | 91.866.993 |
| 2. Buildings | 012 | 277.489.617 | 272.593.483 |
| 3. Plant and equipment | 013 | 26.135.735 | 25.372.719 |
| 4. Instuments, plant inventories and transportation assets | 014 | 7.053.055 | 6.082.826 |
| 5. Biological assets | 015 | ||
| 6. Prepayments for tangible assets | 016 | 128.337 | 254.904 |
| 7. Tangible assets in preparation | 017 | 24.627.461 | 26.810.237 |
| 8. Other material assets | 018 | 1.316.301 | 1.351.357 |
| 9. Investment in buildings III. LONG-TERM FINANCIAL ASSETS (021 to 028) |
019 | 97.123.970 | 97.123.970 |
| 1. Shares (stocks) in related parties | 020 021 |
166.037.582 | 192.961.857 |
| 2. Loans given to related parties | 022 | 28.120.000 | 28.120.000 |
| 3. Participating interests (shares) | 023 | 89.791 | 89.791 |
| 4. Loans to entrepreneurs in whom the entity hold participating interests | 024 | ||
| 5. Investment in securities | 025 | ||
| 6. Loans, deposits and similar assets | 026 | 13.249.298 | 8.873.573 |
| 7. Other long - term financial assets | 027 | 19.107.129 | 19.107.129 |
| 8. Investments accounted by equity method | 028 | 105.471.364 | 136.771.364 |
| IV. RECEIVABLES (030 to 032) | 029 | 6.117.447 | 6.125.248 |
| 1. Receivables from related parties | 030 | ||
| 2. Receivables based on trade loans | 031 | 6.117.447 | 6.125.248 |
| 3. Other receivables | 032 | ||
| V. DEFERRED TAX ASSETS | 033 | 2.281.661 | 2.281.661 |
| C) SHORT TERMS ASSETS (035+043+050+058) I. INVENTORIES (036 to 042) |
034 | 561.061.453 | 593.784.479 |
| 1. Row material | 035 | 148.297.183 101.256 |
143.178.080 101.256 |
| 2. Work in progress | 036 037 |
119.611.959 | 119.697.314 |
| 3. Finished goods | 038 | 20.872.844 | 13.115.934 |
| 4. Merchandise | 039 | 6.160.227 | 8.687.877 |
| 5. Prepayments for inventories | 040 | 1.550.897 | 1.575.699 |
| 6. Long - term assets held for sale | 041 | ||
| 7. Biological assets | 042 | ||
| II. RECEIVABLES (044 to 049) | 043 | 310.045.842 | 367.941.119 |
| 1. Receivables from related parties | 044 | 6.163.340 | 6.148.669 |
| 2. Accounts receivable | 045 | 161.474.555 | 176.181.587 |
| 3. Receivables from participating entrepreneurs | 046 | ||
| 4. Receivables from employees and shareholders | 047 | 664.664 | 590.726 |
| 5. Receivables from government and other institutions | 048 | 6.372.217 | 7.733.370 |
| 6. Other receivables | 049 | 135.371.066 | 177.286.767 |
| III. SHORT - TERM FINANCIAL ASSETS (051 to 057) 1. Shares (stocks) in related parties |
050 | 83.270.192 | 64.072.279 |
| 2. Loans given to related parties | 051 052 |
15.969.304 | 16.037.115 |
| 3. Participating interests (shares) | 053 | ||
| 4. Loans to entrepreneurs in whom the entity hold participating interests | 054 | ||
| 5. Investment in securities | 055 | 12.035.303 | 12.002.606 |
| 6. Loans, deposits and similar assets | 056 | 13.069.191 | 12.291.122 |
| 7. Other financial assets | 057 | 42.196.394 | 23.741.436 |
| IV. CASH AT BANK AND IN CASHIER | 058 | 19.448.236 | 18.593.001 |
| D) PREPAID EXPENSES AND ACCRUED INCOME | 059 | 53.817.473 | 38.706.786 |
| E) TOTAL ASSETS (001+002+034+059) | 060 | 1.349.016.630 | 1.389.597.373 |
| F) OFF-BALANCE SHEET NOTES | 061 | 128.346.841 | 124.252.334 |
| LIABILITIES AND CAPITAL | |||
|---|---|---|---|
| A) CAPITAL AND RESERVES (063+064+065+071+072+075+078) | 062 | 402.518.107 | 465.124.509 |
| I. SUBSCRIBED CAPITAL | 063 | 63.432.000 | 63.432.000 |
| II. CAPITAL RESERVES | 064 | 13.998.640 | 13.998.640 |
| III. RESERVES FROM PROFIT (066+067-068+069+070) | 065 | 8.068.491 | 8.068.491 |
| 1. Reserves prescribed by law | 066 | 3.171.600 | 3.171.600 |
| 2. Reserves for treasury stocks | 067 | 6.343.200 | 6.343.200 |
| 3. Treasury stocks and shares (deduction) | 068 | 1.446.309 | 1.446.309 |
| 4. Statutory reserves | |||
| 5. Other reserves | 069 | ||
| IV. REVALUATION RESERVES | 070 | ||
| 071 | 61.688.896 | 61.664.703 | |
| V. RETAINED EARNINGS OR ACCUMULATED LOSS (073-074) | 072 | 241.862.057 | 249.271.532 |
| 1. Retained earnings | 073 | 241.862.057 | 249.271.532 |
| 2. Accumulated loss | 074 | ||
| VI. PROFIT / LOSS FOR THE CURRENT YEAR (076-077) | 075 | 8.300.652 | 2.359.696 |
| 1. Profit for the current year | 076 | 8.300.652 | 2.359.696 |
| 2. Loss for the current year | 077 | ||
| VII. MINORITY INTEREST | 078 | 5.167.371 | 66.329.447 |
| B) PROVISIONS (080 to 082) | 079 | 8.279.751 | 6.571.624 |
| 1. Provisions for pensions, severance pay and similar liabilities | 080 | 3.257.923 | 3.257.923 |
| 2. Reserves for tax liabilities | 081 | ||
| 3. Other reserves | 082 | 5.021.828 | 3.313.701 |
| C) LONG TERM LIABILITIES (084 to 092) | 083 | 356.256.617 | 369.125.083 |
| 1. Liabilities to related parties | 084 | ||
| 2. Liabilities for loans, deposits etc. | 085 | 30.168.432 | 30.158.767 |
| 3. Liabilities to banks and other financial institutions | 086 | 313.796.999 | 326.675.130 |
| 4. Liabilities for received prepayments | 087 | ||
| 5. Accounts payable | 088 | 6.455.546 | 6.455.546 |
| 6. Liabilities arising from debt securities | 089 | 1.401.018 | 1.401.018 |
| 7. Liabilities to entrepreneurs in whom the entity holds participating interests | 090 | ||
| 8. Other long-term liabilities | 091 | 528.165 | 528.165 |
| 9. Deferred tax liability | 092 | 3.906.457 | 3.906.457 |
| D) SHORT - TERM LIABILITIES (094 to 105) | 093 | 580.577.260 | 547.370.739 |
| 1. Liabilities to related parties | 094 | 820.676 | 1.299.447 |
| 2. Liabilities for loans, deposits etc. | 095 | 52.131.918 | 49.022.989 |
| 3. Liabilities to banks and other financial institutions | 096 | 169.460.999 | 169.889.752 |
| 4. Liabilities for received prepayments | 097 | 13.901.490 | 16.661.397 |
| 5. Accounts payable | 098 | 143.616.702 | 136.007.182 |
| 6. Liabilities arising from debt securities | 099 | 113.790.751 | 95.446.401 |
| 7. Liabilities to enterpreneurs in whom the entity holds participating interests | 100 | ||
| 8. Liabilities to employees | 101 | 10.175.100 | 10.136.674 |
| 9. Liabilities for taxes, contributions and similar fees | 102 | 18.585.194 | 17.516.969 |
| 10. Liabilities to share - holders | 103 | 2.410.448 | 2.410.448 |
| 11. Liabilities for long term assets held for sale | 104 | ||
| 12. Other short - term liabilities | 105 | 55.683.982 | 48.979.480 |
| E) DEFERRED SETTLEMENTS OF CHARGES AND INCOME DEFERRED TO FUTURE PERIOD | 106 | 1.384.895 | 1.405.418 |
| F) TOTAL CAPITAL AND LIABILITIES (062+079+083+093+106) | 107 | 1.349.016.630 | 1.389.597.373 |
| G) OFF-BALANCE SHEET NOTES | 108 | 128.346.841 | 124.252.334 |
| APPENDIX TO BALANCE SHEET (only for consolidated financial statements) | |||
| A) CAPITAL AND RESERVES | |||
| 1. Attributed to equity holders of parent company | 109 | 397.350.735 | 398.795.062 |
| 2. Attributed to minority interests | 110 | 5.167.371 | 66.329.447 |
PROFIT AND LOSS ACCOUNT
for period 01.01.2011. to 31.03.2011.
| Position | AOP | Previous period | Current period | ||
|---|---|---|---|---|---|
| Cummulative | Periodical | Cummulative | Periodical | ||
| 1 | $\overline{2}$ | 3 | 4 | 5 | 6 |
| I. OPERATING REVENUES (112+113) | 111 | 129.466.670 | 129.466.670 | 98.977.899 | 98.977.899 |
| 1. Sales revenues | 112 | 119.078.253 | 119.078.253 | 95.787.037 | 95.787.037 |
| 2. Other operating revenues | 113 | 10.388.417 | 10.388.417 | 3.190.862 | 3.190.862 |
| II. OPERATNG EXPENSES (115+116+120+124+125+126+129+130) | 114 | 119.031.853 | 119.031.853 | 101.720.245 | 101.720.245 |
| 1. Changes in the value of work in progress and finished goods | 115 | -27.701.622 | -27.701.622 | 5.917.477 | 5.917.477 |
| 2. Material costs (117 to 119) | 116 | 64.017.690 | 64.017.690 | 28.950.926 | 28.950.926 |
| a) Raw material and material costs | 117 | 2.912.080 | 2.912.080 | 6.408.599 | 6.408.599 |
| b) Costs of goods sold | 118 | 0 | $\circ$ | 0 | $\mathbf 0$ |
| c) Other external costs | 119 | 61.105.610 | 61.105.610 | 22.542.327 | 22.542.327 |
| 3. Staff costs (121 to 123) | 120 | 55.677.488 | 55.677.488 | 50.379.714 | 50.379.714 |
| a) Net salaries and wages | 121 | 29.843.134 | 29.843.134 | 27.003.527 | 27.003.527 |
| b) Costs for taxes and contributions from salaries | 122 | 17.816.796 | 17.816.796 | 16.121.508 | 16.121.508 |
| c) Contributions on gross salaries | 123 | 8.017.558 | 8.017.558 | 7.254.679 | 7.254.679 |
| 4. Depreciation | 124 | 9.802.894 | 9.802.894 | 6.517.312 | 6.517.312 |
| 5. Other costs | 125 | 7.872.691 | 7.872.691 | 7.716.728 | 7.716.728 |
| 6. Impairment (127+128) | 126 | 8.131.680 | 8.131.680 | 2.106.879 | 2.106.879 |
| a) Impairment of long-term assets (excluding financial assets) | 127 | $\Omega$ | $\Omega$ | $\Omega$ | $\mathbf 0$ |
| b) Impairment of short-term assets (excluding financial assets) | 128 | 8.131.680 | 8.131.680 | 2.106.879 | 2.106.879 |
| 7. Provisions | 129 | 835.731 | 835.731 | $\mathbf{C}$ | $\Omega$ |
| 8. Other operating expenses | 130 | 395.301 | 395.301 | 131.209 | 131.209 |
| III. FINANCIAL INCOME (132 to 136) | 131 | 11.397.038 | 11.397.038 | 17.003.835 | 17.003.835 |
| 1. Interest income, foreign exchange gains, dividends and similar income from related | |||||
| parties | 132 | $\mathbf{O}$ | 0 | $\Omega$ | 0 |
| 2. Interest income, foreign exchange gains, dividends and similar income from non-related | 133 | 1.477.862 | 1.477.862 | 876.405 | 876.405 |
| 3. Share in income from affiliated entrepreneurs and participating interests | 134 | 532.603 | 532.603 | 674.630 | 674.630 |
| 4. Unrealized gains (income) from financial assets | 135 | $\mathbf 0$ | $\Omega$ | $\Omega$ | 0 |
| 5. Other financial income | 136 | 9.386.573 | 9.386.573 | 15.452.800 | 15.452.800 |
| IV. FINANCIAL EXPENSES (138 to 141) | 137 | 10.068.723 | 10.068.723 | 10.175.357 | 10.175.357 |
| 1. Interest expenses, foreign exchange losses and similar expenses from related parties | 138 | $\mathbf 0$ | $\mathbf{o}$ | $\mathbf 0$ | $\circ$ |
| 2. Interest expenses, foreign exchange losses and similar expenses from non - related | 139 | 10.068.723 | 10.068.723 | 10.175.357 | 10.175.357 |
| 3. Unrealized losses (expenses) on financial assets | 140 | $\mathsf{o}\xspace$ | $\mathbf{o}$ | $\mathbf 0$ | $\circ$ |
| 4. Other financial expenses | 141 | $\circ$ | $\mathbf{o}$ | $\circ$ | $\mathbf 0$ |
| V. INCOME FROM INVESTMENT SHARE IN PROFIT OF ASSOCIATED ENTREPRENEURS | 142 | $\overline{0}$ | $\mathbf{o}$ | $\mathbf 0$ | $\pmb{\mathsf{o}}$ |
| $\mathbf 0$ | $\mathbf 0$ | 262.376 | 262.376 | ||
| $\Omega$ | $\mathbf{0}$ | ||||
| VI. LOSS FROM INVESTMENT SHARE IN LOSS OF ASSOCIATED ENTREPRENEURS | 143 | ||||
| VII. EXTRAORDINARY - OTHER INCOME | 144 | $\mathbf 0$ | $\Omega$ | ||
| VIII. EXTRAORDINARY - OTHER EXPENSES | 145 | $\mathbf 0$ | $\mathbf 0$ | $\mathbf 0$ | $\mathbf{o}$ |
| 146 | 140.863.708 | 140.863.708 | 115.981.734 | ||
| 147 | 129.100.576 | 129.100.576 | 112.157.978 | ||
| 148 | 11.763.132 | 11.763.132 | 3.823.756 | ||
| 1. Profit before taxation (146-147) | 149 | 11.763.132 | 11.763.132 | 3.823.756 | |
| 2. Loss before taxation (147-146) | 150 | $\mathbf 0$ | $\Omega$ | $\mathbf 0$ | |
| IX. TOTAL INCOME (111+131+142 + 144) X. TOTAL EXPENSES (114+137+143 + 145) XI. PROFIT OR LOSS BEFORE TAXATION (146-147) XII. PROFIT TAX |
151 | 2.148.962 | 2.148.962 | 1.056.148 | 115.981.734 112.157.978 3.823.756 3.823.756 $\mathbf{0}$ 1.056.148 |
| XIII. PROFIT OR LOSS FOR THE PERIOD (148-151) 1. Profit for the period(149-151) |
152 153 |
9.614.170 9.614.170 |
9.614.170 9.614.170 |
2.767.608 2.767.608 |
2.767.608 2.767.608 |
| XIV. PROFIT OR LOSS FOR THE PERIOD | |||||
|---|---|---|---|---|---|
| 1. Attributed to equity holders of parent company | 155 | 10.379.064 | 10.379.064 | 2.359,696 | 2.359.696 |
| 2. Attributed to minority interests | 156 | $-764.894$ | $-764.894$ | 407.912 | 407.912 |
| STATEMENT OF COMPREHENSIVE INCOME (IFRS) | |||||
| I. PROFIT OR LOSS FOR THE PERIOD (= 152) | 157 | 9.614.170 | 9.614.170 | 2.767.608 | 2.767.608 |
| II. OTHER COMPREHENSIVE INCOME / LOSS BEFORE TAX(159 to 165) | 158 | $-36.127$ | $-36.127$ | $-24.193$ | $-24.193$ |
| 1. Exchange differences on translation of foreign operations | 159 | $-36.127$ | $-36.127$ | $-24.193$ | $-24.193$ |
| 2. Movements in revaluation reserves of long-term tangible and intangible assets | 160 | ||||
| 3. Profit or loss from revaluation of financial assets available for sale | 161 | ||||
| 4. Gains or losses on efficient cash flow hedging | 162 | ||||
| 5. Gains or losses on efficient hedge of a net investment in foreign countries | 163 | ||||
| 6. Share in 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 PERIOD | 166 | ||||
| IV. NET OTHER COMPREHENSIVE INCOME/ LOSS FOR THE PERIOD (158-166) | 167 | $-36.127$ | $-36.127$ | $-24.193$ | $-24.193$ |
| V. COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD(157+167) | 168 | 9.578.043 | 9.578.043 | 2.743.415 | 2.743.415 |
| APPENDIX to Statement of comprehensive income (only for consolidated financial statements) | |||||
| VI. COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD | |||||
| 1. Attributed to equity holders of parent company | 169 | 10.342.937 | 10.342.937 | 2.335.503 | 2.335.503 |
| 2. Attributed to minority interests | 170 | $-764.894$ | $-764.894$ | 407.912 | 407.912 |
STATEMENT OF CASH FLOWS - Indirect method period 01.01.2011. to 31.03.2011.
| Position | AOP | Previous period |
Current period |
|---|---|---|---|
| $\mathbf{1}$ | $\overline{2}$ | 3 | 4 |
| CASH FLOW FROM OPERATING ACTIVITIES | |||
| 1. Profit before tax | 001 | 10.379.064 | 3.823.756 |
| 2. Depreciation | 002 | 9.802.894 | 6.517.312 |
| 3. Increase in short-term liabilities | 003 | 0 | |
| 4. Decrease in short term receivables | 004 | $\Omega$ | |
| 5. Decrease in inventories | 005 | 0 | 5.119.103 |
| 6. Other cash flow increases | 006 | 38.703.616 | 44.508.900 |
| I. Total increase in cash flow from operating activities (001 to 006) | 007 | 58.885.574 | 59.969.071 |
| 1. Decrease in short - term liabilities | 008 | 20.924.483 | 33.206.521 |
| 2. Insrease in short - term receivables | 009 | 34.594.029 | 57.895.277 |
| 3. Increase in inventories | 010 | 27.084.318 | $\Omega$ |
| 4. Other cash flow decreases | 011 | 12.884.963 | |
| II. Total decrease in cash flow from operating activities (008 to 011) | 012 | 95.487.793 | 91.101.798 |
| A1) NET INCREASE OF CASH FLOW FROM OPERATING ACTIVITIES (007-012) | 013 | 0 | |
| A2) NET DECREASE OF CASH FLOW FROM OPERATING ACTIVITIES (012-007) | 014 | 36.602.219 | 31.132.727 |
| CASH FLOW FROM INVESTING ACTIVITIES | |||
| 1. Cash flow from sale of long - term tangible and intangible assets | 015 | 100.754 | 116.697 |
| 2. Cash inflows from sale of equity and debt financial instruments | 016 | 10.552.349 | 31.300.000 |
| 3. Interest receipts | 017 | 526.241 | 793.017 |
| 4. Dividend receipts | 018 | 0 | |
| 5. Other cash inflows from investing activities | 019 | 2.000.000 | 2.048.795 |
| III. Total cash inflows from investing activities(015 to 019) | 020 | 13.179.344 | 34.258.509 |
| 1. Cash outflows for purchase of long - term tangible and intangible assets | 021 | 1.006.375 | 395.162 |
| 2. Cash outflows for purchase of equity and debt financial instruments | 022 | 20.826.775 | 31.300.000 |
| 3. Other cash outflows from investing activities | 023 | 72.000 | |
| IV. Total cash outflows from investing activities (021 to 023) | 024 | 21.905.150 | 31.695.162 |
| B1) NET INCREASE OF CASH FLOW FROM INVESTING ACTIVITIES(020-024) | 025 | 0 | 2.563.347 |
| B2) NET DECREASE OF CASH FLOW FROM INVESTING ACTIVITIES(024-020) | 026 | 8.725.806 | |
| CASH FLOW FROM FINANCING ACTIVITIES | |||
| 1. Cash receipts from issuance of equity and debt financial instruments | 027 | $\Omega$ | |
| 2. Cash inflows from loans, debentures, credits and other borrowings | 028 | 56.605.349 | 14.911.165 |
| 3. Other cash inflows from financing activities | 029 | $\circ$ | 300.000 |
| V. Total cash inflows from financing activities (027 to 029) | 030 | 56.605.349 | 15.211.165 |
| 1. Cash outflows for repayment of loans and bonds | 031 | 16.728.012 | 5.395.284 |
| 2. Dividends paid | 032 | 4.500 | 51.825 |
| 3. Cash outflows for finance lease | 033 | 1.035.206 | 537.466 |
| 4. Cash outflows for purchase of own stocks | 034 | 0 | $\circ$ |
| 5. Other cash outflows from financing activities | 035 | $\overline{0}$ | οl |
| VI. Total cash outflows from financing activities (031 do 035) | 036 | 17.767.718 | 5.984.575 |
| C1) NET INCREASE OF CASH FLOW FROM FINANCING ACTIVITIES (030-036) | 037 | 38.837.631 | 9.226.590 |
| C2) NET DECREASE OF CASH FLOW FROM FINANCING ACTIVITIES (036-030) | 038 | 0 | |
| Total increases of cash flows (013 - 014 + 025 - 026 + 037 - 038) | 039 | 0 | |
| Total decreases of cash flows $(014 - 013 + 026 - 025 + 038 - 037)$ | 040 | 6.490.394 | 19.342.790 |
| Cash and cash equivalents at the beginning of period | 041 | 80.604.065 | 73.679.933 |
| Increase in cash and cash equivalents | 042 | ||
| Decrease in cash and cash equivalents | 043 | 6.490.394 | 19.342.790 |
| Cash and cash equivalents at the end of period | 044 | 74.113.671 | 54.337.143 |
STATEMENT OF CHANGES IN EQUITY
01.01.2011 to 31.03.2011 from
| Position | AOP | Previous | |
|---|---|---|---|
| year | Current year | ||
| 一 | 2 | ∾ | 4 |
| 1. Subscribed capital | DO1 | 63.432.000 | 63.432.000 |
| 2. Capital reserves | 002 | 13.998.640 | 13.998.640 |
| 3. Reserves from profit | 003 | 8.068.491 | 8.068.491 |
| 4. Retained earnings or accumulated loss | 004 | 241.862.057 | 249.271.532 |
| year 5. Profit / loss for the current |
005 | 8.300.652 | 2.359.696 |
| tangible assets 6. Revaluation of long - term |
006 | 53.606.519 | 53.606.519 |
| 7. Revaluation of intangible assets | 007 | 0 | $\circ$ |
| 8. Revaluation of financial assets available for sale | 008 | 8.112.808 | 8.112.808 |
| 9. Other revaluation | 009 | 0 | |
| 0. Total capital and reserves (AOP 001 to 009) | 010 | 397.381.167 | 398.849.686 |
| 1. Currency gains and losses arising from net investments in foreign operations | 011 | $-30.431$ | 54.624 |
| 12. Current and deferred taxes (part) | 012 | 0 | |
| 13. Cash flow hedging | 013 | 0 | |
| 4. Changes in accounting policies | 014 | $\circ$ | |
| rrors in prior periods 5. Correction of significant er |
015 | $\circ$ | |
| 6. Other changes in capital | 016 | 0 | |
| 7. Total increase or decrease in capital (AOP 011 to 016) | 017 | 30.431 | -54.624 |
| ers of parent company 7 a. Attributed to equity holde |
018 | 397.350.736 | 398.795.062 |
| 7 b. Attributed to minority interst | 019 | 5.167.371 | 66.329.447 |
Items decreasing the capital are entered with a negative number sign
Data entered under AOP marks 001 to 009 are entered as situation on the Balance Sheet date