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Institut IGH d.d. — Interim / Quarterly Report 2011
Oct 28, 2011
2091_10-q_2011-10-28_0620ca67-dfeb-4fe4-99c0-564357ce5cac.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
GENERAL MANAGER'S REPORT ON BUSINESS RESULTS OF THE INSTITUT IGH AND ITS SUBSIDIARIES IN THE PERIOD FROM 1 JANUARY TO 30 SEPTEMBER 2011
The INSTITUT IGH JSC, Zagreb, and its subsidiaries, provide professional services in the field of testing, design and project validation, works supervision and project management in the architectural and civil engineering spheres of design, and also conduct scientific research.
Institut IGH JSC has 19 subsidiary companies providing services either in its core activity or in associated fields of activity, the exception being one subsidiary company that provides services in the field of hotel industry and tourism.
The registered seat of the mother company Institut IGH, JSC, Zagreb is situated in Zagreb, Janka Rakuše 1, company registration No.: MB 3750272, personal identification No. OIB 79766124714.
The total number of persons employed with Institut IGH JSC and its subsidiaries was 1186 on 30 September 2011.
Institut IGH, JSC Supervisory Board and Management Board
The company's Supervisory Board members are:
Franjo Gregorić, Ph.D. (Econ.), President
Dinko Tvrtković, B.Sc. (Civ. Eng.), Member
Branko Kincl, Academician, Member
Prof. Vlatka Rajčić, Ph.D., Member
Ante Stojan, B.Arch., Member
The company's Management Board member is:
Prof. Jure Radić, Ph.D. (Civ. Eng.), General Manager
Equity capital
Žiro račun:
The equity capital amounts to HRK 63,432,000.00 and consists of 158,580 regular shares each with the nominal value of HRK 400.
Djelatnost: 73102 MB: 3750272 Poslovno banka: Zagrebačka banka d.d. Zagreb, Paromlinsko 2
Mjerodavni sud: 2360000-1101243767 registorski uložak Devizni ročun kod Zagrebačke banke d.d.
Zagreb: 2100085026 080000959 OIB: 79766124714
Temelini kanital-63.432.000,00 kn Trgovački sud u Zagrebu, uplaćen u cijelosti s matičnim brojem (MBS) Brai izdanih dionica: 158.580, nominolno vrijednost dionice 400 kn
Ilnrovaprof.dr.sc. Jure Radić, direktor, zastupa društvo pojedinačno i samostalno Nadzorni odbor: dr. sc. Franjo Gregurić, predsjednik
Business results of the Institut IGH JSC and its subsidiaries in the period from 1 January to 30 September 2011
In the period from 1 January to 30 September 2011, the revenues of the Institut IGH and its subsidiaries amounted to HRK 362,750,298, out of which HRK 72,814,430 was realized on foreign markets.
The consolidated revenues amount to HRK 379,527,382 and are roughly similar to revenues realized in the same period last year.
The operating expenses amount to HRK 346,740,498 and have fallen by 3.6% with respect to the same period last year. This particularly concerns reduction of cost of external services, which was lowered by 42.4%, and reduction in the cost of personnel which was reduced by 10.2 percent with respect to the same period last year.
The total financial revenues amount to HRK 19,655,509, and are formed of interest and positive exchange rate differences amounting to HRK 4,015,330, and of revenues generated through sale of company's shares and other financial revenues amounting to HRK 15,640,179.
Total financial expenses in the period from January to September 2011 amount to HRK 43.430.529. Financial expenses are mostly due to loan interest payments amounting to HRK 33,993,350, which roughly corresponds to similar payments due over the same period last year. The increase of financial expenses as related to the same period last year was affected by the net loss due to negative exchange rate differences amounting to HRK 8,913,943.
In the climate of continuous fall in construction and investment activities, combined with rise in insolvency, the Institut IGH JSC realized at the consolidated level, over the first nine months of 2011, the total revenues of HRK 399,227,891, which amounts to 99.17% of the total revenues realized in the identical period last year, and total expenses of HRK 393,257,236 which is by 1.21 percent less when compared with expenses generated in the identical period last year.
Consequently, the pre-tax profit generated by Institut IGH JSC and its affiliates amounts to HRK 5,970,655, and exceeds by 32.37 percent the pre-tax profit generated over the same period last year.
The after-tax profit amounts to HRK 2,260,541. As the profit attributed to minority interest is HRK 521,046, the after-tax profit margin of mother-company shareholders is HRK 1,796,177.
Over the first nine months of 2011, the Company reduced its long term liabilities by HRK 7.78 million, and short term liabilities by HRK 39.96 million, and so in total the liabilities were reduced by HRK 47.74 million. In addition, over the first nine months of 2011, the Company reduced its trade payables (amounts due to suppliers and subcontractors) by HRK 13.07 million as related to the identical period last year, which is a 9.1 percent decrease.
On the day of this report the Institut IGH and its affiliates had HRK 202 million in unpaid trade receivables.
The Company intends to continue with rationalization of its operations. Based on the employee placement program and regular retirement schedule, the Company expects that the number of employees will be reduced by 80 by the end of 2011. The completion of construction/investment projects "Ban Centar" and "Centar Bundek" is due in 2012, which is expected to result in reduction of financial expenses by the end of 2012, as related to expenses generated over the first three quarters, and those that are expected by the end of this year.
Zagreb, 28 October 2011
ijanička Institut IGH, d.d. Jure Radić, Ph.D. (Civ.Eng.) Prof. General Manager 06 $\frac{1}{100}$
Institut IGH d.d.
MANAGEMENT'S STATEMENT ON THE RESPONSIBILITY FOR PREPARING FINANCIAL REPORTS FOR THE INSTITUT IGH, JSC
The Company's Management has to ensure that the INSTITUT IGH d.d. financial reports for the third 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 Company'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 Company has adequate resources to continue operation in the foreseeable future. Accordingly, the Management has prepared its financial reports under assumption that the Company 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; $\bullet$
- for applying valid financial reporting standards and for making public and explaining $\bullet$ every materially significant discrepancy discovered in financial reports;
- for preparing financial reports under assumption of an unlimited period of operation. $\bullet$ 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 Company, 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 Company'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
28 October 201
| Attachment 1. | |||||
|---|---|---|---|---|---|
| Reporting period: | 01.01.2011 | do | 30.09.2011 | ||
| Quarterly financial statement of the entrepreneur - TFI-POD | |||||
| Tax number (MB): | 03750272 | ||||
| Company registration number (MRS) |
80000959 | ||||
| Personal identification number (OIB): |
79766124714 | ||||
| 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 | |||||
| unicipality/city code and name: | ZAGREB 133 |
||||
| County code and name: | GRAD ZAGREB 133 |
Number of employees | 876 | ||
| Consolidated report: | ΝO | (quarter end) NKD code: |
7219 | ||
| pmpanies of the consolidation subject (according to IFRS | Seat: | MB: | |||
| Bookkeeping service: | |||||
| Contact person: ŠPINDERK JADRANKA | |||||
| (please enter only contact person's family name and name) Telephone: 01 6125 444 |
Telefaks: 01 6125 404 | ||||
| E-mail adress: [email protected] | |||||
| Family name and name: prof. dr. JURE RADIĆ, dipl. ing. građ. | |||||
| (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) | |||||
| MAISHAN | |||||
BALANCE SHEET as of 30.09.2011.
| 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) | 002 | 652.108.571 | 663.709.766 |
| I. INTANGIBLE ASSETS (004 to 009) | 003 | 18.066.215 | 19.193.409 |
| 1. Assets development | 004 | $\Omega$ | $\bf{0}$ |
| 2. Concessions, patents, licence fees, merchandise and service brands, software and other rights | 005 | 2.091.193 | 3.244.387 |
| 3. Goodwill | 006 | 13.355.595 | 13.355.595 |
| 4. Prepayments for purchase of intangible assets | 007 | 0 | |
| 5. Intangible assets in preparation | 008 | 2.619.427 | 2.593.427 |
| 6. Other intangible assets | 009 | 0 | |
| II. TANGIBLE ASSETS (011 to 019) | 010 | 215.006.072 | 213.018.012 |
| 1. Land | 011 | 45.615.550 | 45.615.550 |
| 2. Buildings | 012 | 104.762.894 | 97.343.999 |
| 3. Plant and equipment | 013 | 3.238.984 | 2.961.946 |
| 4. Instuments, plant inventories and transportation assets | 014 | 1.989.856 | 1.820.590 $\mathbf 0$ |
| 5. Biological assets 6. Prepayments for tangible assets |
015 016 |
95.843 | 120.357 |
| 7. Tangible assets in preparation | 017 | 24.695.834 | 29.665.210 |
| 8. Other material assets | 018 | 379.356 | 343.347 |
| 9. Investment in buildings | 019 | 34.227.755 | 35.147.013 |
| III. LONG-TERM FINANCIAL ASSETS (021 to 028) | 020 | 410.827.205 | 424.793.025 |
| 1. Shares (stocks) in related parties | 021 | 317.933.356 | 337.022.255 |
| 2. Loans given to related parties | 022 | 65.324.225 | 64.102.980 |
| 3. Participating interests (shares) | 023 | 62.220 | 62.220 |
| 4. Loans to entrepreneurs in whom the entity hold participating interests | 024 | 0 | $\pmb{0}$ |
| 5. Investment in securities | 025 | $\Omega$ | $\mathbf 0$ |
| 6. Loans, deposits and similar assets | 026 | 8.400.275 | 4.498.441 |
| 7. Other long - term financial assets | 027 | 19.107.129 | 19.107.129 |
| 8. Investments accounted by equity method | 028 | $\Omega$ | 0 |
| IV. RECEIVABLES (030 to 032) | 029 | 6.117.448 | 4.613.689 |
| 1. Receivables from related parties | 030 | ||
| 2. Receivables based on trade loans | 031 | 6.117.448 | 4.613.689 |
| 3. Other receivables | 032 | 0 | $\mathbf 0$ |
| V. DEFERRED TAX ASSETS C) SHORT TERMS ASSETS (035+043+050+058) |
033 034 |
2.091.631 464.248.608 |
2.091.631 432.788.307 |
| I. INVENTORIES (036 to 042) | 035 | 26.221.082 | 8.571.726 |
| 1. Row material | 036 | 0 | $\mathbf 0$ |
| 2. Work in progress | 037 | 501.348 | 501.348 |
| 3. Finished goods | 038 | 19.033.411 | 6.605.571 |
| 4. Merchandise | 039 | 6.135.426 | 1.464.807 |
| 5. Prepayments for inventories | 040 | 550.897 | 0 |
| 6. Long - term assets held for sale | 041 | 0 | $\overline{0}$ |
| 7. Biological assets | 042 | ||
| II. RECEIVABLES (044 to 049) | 043 | 281.317.191 | 332.939.317 |
| 1. Receivables from related parties | 044 | 30.097.509 | 25.148.858 |
| 2. Accounts receivable | 045 | 125.205.973 | 141.337.847 |
| 3. Receivables from participating entrepreneurs | 046 | 0 | |
| 4. Receivables from employees and shareholders | 047 | 636.527 | 988.327 |
| 5. Receivables from government and other institutions | 048 | 5.765.880 | 1.057.864 |
| 6. Other receivables | 049 | 119.611.302 | 164.406.421 |
| III. SHORT - TERM FINANCIAL ASSETS (051 to 057) | 050 | 148.002.027 | 89.425.000 |
| 1. Shares (stocks) in related parties | 051 | 0 83.613.337 |
0 61.928.337 |
| 2. Loans given to related parties 3. Participating interests (shares) |
052 053 |
0 | 0 |
| 4. Loans to entrepreneurs in whom the entity hold participating interests | 054 | 0 | 0 |
| 5. Investment in securities | 055 | 11.993.303 | 9.661.318 |
| 6. Loans, deposits and similar assets | 056 | 10.198.993 | 16.438.675 |
| 7. Other financial assets | 057 | 42.196.394 | 1.396.670 |
| IV. CASH AT BANK AND IN CASHIER | 058 | 8.708.308 | 1.852.264 |
| D) PREPAID EXPENSES AND ACCRUED INCOME | 059 | 48.418.697 | 36.692.443 |
| E) TOTAL ASSETS (001+002+034+059) | 060 | 1.164.775.876 | 1.133.190.516 |
| F) OFF-BALANCE SHEET NOTES | 061 | 128.346.841 | 123.754.163 |
| A) CAPITAL AND RESERVES (063+064+065+071+072+075+078) | 062 | 429.628.995 | 439.419.191 |
|---|---|---|---|
| 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 | 069 | 0 | |
| 5. Other reserves | 070 | $\mathbf 0$ | |
| IV. REVALUATION RESERVES | 071 | 57.127.602 | 57.127.602 |
| V. RETAINED EARNINGS OR ACCUMULATED LOSS (073-074) | 072 | 274.016.877 | 287.002.263 |
| 1. Retained earnings | 073 | 274.016.877 | 287.002.263 |
| 2. Accumulated loss | 074 | $\mathbf 0$ | |
| VI. PROFIT / LOSS FOR THE CURRENT YEAR (076-077) | 075 | 12.985.385 | 9.790.195 |
| 1. Profit for the current year | 076 | 12.985.385 | 9.790.195 |
| 2. Loss for the current year | 077 | $\bf{0}$ | |
| VII. MINORITY INTEREST | 078 | $\mathbf 0$ | |
| B) PROVISIONS (080 to 082) | 079 | 7.909.751 | 6.571.623 |
| 1. Provisions for pensions, severance pay and similar liabilities | 080 | 3.257.923 | 3.257.923 |
| 2. Reserves for tax liabilities | 081 | $\mathbf{0}$ | |
| 3. Other reserves | 082 | 4.651.828 | 3.313.700 |
| C) LONG TERM LIABILITIES (084 to 092) | 083 | 218.438.778 | 234.892.224 |
| 1. Liabilities to related parties | 084 | 0 | |
| 2. Liabilities for loans, deposits etc. | 085 | $\mathbf 0$ | |
| 3. Liabilities to banks and other financial institutions | 086 | 212.729.727 | 229.097.193 |
| 4. Liabilities for received prepayments | 087 | $\mathbf{0}$ | |
| 5. Accounts payable | 088 | 321.844 | 426.860 |
| 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 | 0 | |
| 8. Other long-term liabilities | 091 | 79.732 | 60.696 |
| 9. Deferred tax liability | 092 | 3.906.457 | 3.906.457 |
| D) SHORT - TERM LIABILITIES (094 to 105) | 093 | 507.450.902 | 451.028.766 |
| 1. Liabilities to related parties | 094 | 9.316.392 | 4.082.001 |
| 49.818.576 | |||
| 2. Liabilities for loans, deposits etc. 3. Liabilities to banks and other financial institutions |
095 | 46.463.807 | |
| 096 | 143.199.392 | 130.820.464 5.330.712 |
|
| 4. Liabilities for received prepayments | 097 | 9.604.190 | |
| 5. Accounts payable | 098 | 116.652.758 113.790.751 |
91.787.529 101.583.572 |
| 6. Liabilities arising from debt securities | 099 | ||
| 7. Liabilities to enterpreneurs in whom the entity holds participating interests | 100 | $\mathbf{0}$ | |
| 8. Liabilities to employees | 101 | 8.276.060 15.630.518 |
7.631.465 21.658.951 |
| 9. Liabilities for taxes, contributions and similar fees | 102 | 418.051 | |
| 10. Liabilities to share - holders | 103 | 431.377 | |
| 11. Liabilities for long term assets held for sale | 104 | $\bf{0}$ | |
| 12. Other short - term liabilities | 105 | 44.085.657 | 37.897.445 |
| E) DEFERRED SETTLEMENTS OF CHARGES AND INCOME DEFERRED TO FUTURE PERIOD | 106 | 1.347.450 | 1.278.712 |
| F) TOTAL CAPITAL AND LIABILITIES (062+079+083+093+106) | 107 | 1.164.775.876 | 1.133.190.516 |
| G) OFF-BALANCE SHEET NOTES | 108 | 128.346.841 | 123.754.163 |
| APPENDIX TO BALANCE SHEET (only for consolidated financial statements) | |||
| A) CAPITAL AND RESERVES | |||
| 1. Attributed to equity holders of parent company | 109 | ||
| 2. Attributed to minority interests | 110 |
PROFIT AND LOSS ACCOUNT
for period 01.01.2011. to 30.09.2011.
| INSTITUT IGH D.D. | AOP | ||||
|---|---|---|---|---|---|
| Position | Previous period | Current period | |||
| Cummulative | Periodical | Cummulative | Periodical | ||
| 1 | $\overline{\mathbf{2}}$ | 3 | 4 | 5 | 6 |
| OPERATING REVENUES (112+113) | 111 | 324.992.819 | 109.024.777 | 276.747.683 | 98.800.787 95.639.987 |
| 1. Sales revenues 2. Other operating revenues |
112 | 304.166.273 20.826.546 |
97.071.056 11.953.721 |
268.445.510 8.302.173 |
3.160.800 |
| II. OPERATNG EXPENSES (115+116+120+124+125+126+129+130) | 113 114 |
303.417.738 | 95.801.144 | 252.618.431 | 83.152.701 |
| 1. Changes in the value of work in progress and finished goods | 115 | 4.900.393 | 750.295 | 12.573.501 | $\mathbf{0}$ |
| 2. Material costs (117 to 119) | 116 | 93.588.499 | 28.257.837 | 76.537.497 | 27.618.662 |
| a) Raw material and material costs | 117 | 10.171.581 | 3.287.291 | 9.334.712 | 3.095.804 |
| b) Costs of goods sold | 118 | 0 | 5.082.220 | 5.054.094 | |
| c) Other external costs | 119 | 83.416.918 | 24.970.546 | 62.120.565 | 19.468.764 |
| 3. Staff costs (121 to 123) | 120 | 135.589.383 | 45.102.836 | 117.997.087 | 37.431.493 |
| a) Net salaries and wages | 121 | 74.350.681 | 24.824.624 | 65.354.044 | 20.740.277 |
| b) Costs for taxes and contributions from salaries | 122 | 41.933.448 | 13.919.168 | 35.461.044 | 11.263.216 |
| c) Contributions on gross salaries | 123 | 19.305.254 | 6.359.044 | 17.181.999 | 5.428.000 |
| 4. Depreciation | 124 | 14.664.671 | 4.545.078 | 10.868.453 | 3.782.485 |
| 5. Other costs | 125 | 32.292.099 | 11.154.726 | 26.707.556 | 10.360.972 |
| 6. Impairment (127+128) | 126 | 18.544.378 | 5.475.265 | 6.978.738 | 3.854.047 |
| a) Impairment of long-term assets (excluding financial assets) | 127 | $\mathbf 0$ | $\mathbf 0$ | $\Omega$ | $\mathbf 0$ |
| b) Impairment of short-term assets (excluding financial assets) | 128 | 18.544.378 | 5.475.265 | 6.978.738 | 3.854.047 |
| 7. Provisions | 129 | 1.703.510 | 17.817 | ||
| 8. Other operating expenses | 130 | 2.134.805 | 497.290 | 955.599 | 105.042 |
| III. FINANCIAL INCOME (132 to 136) | 131 | 22.341.250 | 2.594.341 | 24.698.640 | 2.071.745 |
| 1. Interest income, foreign exchange gains, dividends and similar income from related | 132 | 7.790.184 | 2.594.341 | 7.709.222 | 2.057.175 |
| 2. Interest income, foreign exchange gains, dividends and similar income from non-related | 133 | 5.129.493 | 1.538.993 | $\circ$ | |
| 3. Share in income from affiliated entrepreneurs and participating interests | 134 | $\mathbf 0$ $\mathbf 0$ |
$\pmb{0}$ $\mathbf 0$ |
||
| 4. Unrealized gains (income) from financial assets 5. Other financial income |
135 136 |
9.421.573 | $\mathbf 0$ | 15.450.425 | 14.570 |
| IV. FINANCIAL EXPENSES (138 to 141) | 137 | 29.216.841 | 13.255.855 | 35.670.333 | 14.875.841 |
| 1. Interest expenses, foreign exchange losses and similar expenses from related parties | 138 | ||||
| 2. Interest expenses, foreign exchange losses and similar expenses from non - related | 139 | 29.216.841 | 13.255.855 | 35.218.262 | 14.792.625 |
| 3. Unrealized losses (expenses) on financial assets | 140 | 0 | $\mathbf 0$ | $\Omega$ | |
| 4. Other financial expenses | 141 | $\mathbf 0$ | $\mathbf 0$ | 452.071 | 83.216 |
| V. INCOME FROM INVESTMENT SHARE IN PROFIT OF ASSOCIATED ENTREPRENEURS | 142 | 0 | $\mathbf 0$ | $\Omega$ | $^{\circ}$ |
| VI. LOSS FROM INVESTMENT SHARE IN LOSS OF ASSOCIATED ENTREPRENEURS | 143 | $\Omega$ | $\mathbf 0$ | ||
| VII. EXTRAORDINARY - OTHER INCOME | 144 | $\mathbf 0$ | $\mathbf 0$ | 0 | 0 |
| VIII. EXTRAORDINARY - OTHER EXPENSES | 145 | $\Omega$ | $\Omega$ | ||
| IX. TOTAL INCOME (111+131+142 + 144) | 146 | 347.334.069 | 111.619.118 | 301.446.323 | 100.872.532 |
| X. TOTAL EXPENSES (114+137+143 + 145) | 147 | 332.634.579 | 109.056.999 | 288.288.764 | 98.028.542 |
| XI. PROFIT OR LOSS BEFORE TAXATION (146-147) 1. Profit before taxation (146-147) |
148 | 14.699.490 14.699.490 |
2.562.119 2.562.119 |
13.157.559 13.157.559 |
2.843.990 2.843.990 |
| 2. Loss before taxation (147-146) | 149 150 |
$\Omega$ | $\theta$ | $\mathbf 0$ | |
| XII. PROFIT TAX | 151 | 4.102.753 | 927.768 | 3.367.364 | 1.219.798 |
| XIII. PROFIT OR LOSS FOR THE PERIOD (148-151) | 152 | 10.596.737 | 1.634.351 | 9.790.195 | 1.624.192 |
| 1. Profit for the period(149-151) | 153 | 10.596.737 | 1.634.351 | 9.790.195 | 1.624.192 |
| 2. Loss for the period (151-148) | 154 | 0 | 0 | 0 | $\pmb{0}$ |
| APPENDIX to Profit and Loss Account (only for consolidated financial statements) | |||||
| XIV. PROFIT OR LOSS FOR THE PERIOD | |||||
| 1. Attributed to equity holders of parent company | 155 | ||||
| 2. Attributed to minority interests | 156 | ||||
| STATEMENT OF COMPREHENSIVE INCOME (IFRS) | |||||
| PROFIT OR LOSS FOR THE PERIOD (= 152) | 157 | 10.596.737 | 1.634.351 | 9.790.195 | 1.624.192 |
| II. OTHER COMPREHENSIVE INCOME / LOSS BEFORE TAX (159 to 165) | 158 | 0 | $\pmb{0}$ | 0 $\overline{0}$ |
$\pmb{0}$ |
| 1. Exchange differences on translation of foreign operations | 159 | $\mathbf 0$ 0 |
$\bf{0}$ 0 |
$\overline{0}$ | $\pmb{0}$ $\pmb{0}$ |
| 2. Movements in revaluation reserves of long-term tangible and intangible assets 3. Profit or loss from revaluation of financial assets available for sale |
160 161 |
$\mathbf 0$ | $\mathbf{0}$ | $\overline{0}$ | $\pmb{0}$ |
| 4. Gains or losses on efficient cash flow hedging | 162 | 0 | $\mathbf 0$ | $\bf{0}$ | $\pmb{0}$ |
| 5. Gains or losses on efficient hedge of a net investment in foreign countries | 163 | 0 | $\pmb{0}$ | $\bf{0}$ | $\mathbf 0$ |
| 6. Share in other comprehensive income / loss of associated companies | 164 | $\mathbf 0$ | $\pmb{0}$ | $\bf{0}$ | $\pmb{0}$ |
| 7. Actuarial gains / losses on defined benefit plans | 165 | $\overline{0}$ | 0 | $\mathbf 0$ | $\mathbf 0$ |
| III. TAX ON OTHER COMPREHENSIVE INCOME FOR THE PERIOD | 166 | $\bf{0}$ | $\mathbf 0$ | $\overline{0}$ | $\pmb{0}$ |
| IV. NET OTHER COMPREHENSIVE INCOME/ LOSS FOR THE PERIOD (158-166) | 167 | $\mathbf 0$ | $\mathbf 0$ | 0 | $\mathbf 0$ |
| V. COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD(157+167) | 168 | 10.596.737 | 1.634.351 | 9.790.195 | 1.624.192 |
| 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 | ||||
| 2. Attributed to minority interests | 170 |
STATEMENT OF CASH FLOWS - Indirect method
period 01.01.2011. to 30.09.2011.
| Legal entity : INSTITUT IGH D.D. | |||
|---|---|---|---|
| Position | AOP | Previous period |
Current period |
| $\overline{2}$ | 3 | 4 | |
| CASH FLOW FROM OPERATING ACTIVITIES | |||
| 1. Profit before tax | 001 | 14.699.490 | 13.157.559 |
| 2. Depreciation | 002 | 14.664.671 | 10.868.453 |
| 3. Increase in short-term liabilities | 003 | $\Omega$ | |
| 4. Decrease in short term receivables | 004 | 23.852.019 | |
| 5. Decrease in inventories | 005 | 4.542.802 | 17.649.356 |
| 6. Other cash flow increases | 006 | 6.665.858 | 42.892.427 |
| I. Total increase in cash flow from operating activities (001 to 006) | 007 | 64.424.840 | 84.567.795 |
| 1. Decrease in short - term liabilities | 008 | 66.985.311 | 56.422.136 |
| 2. Insrease in short - term receivables | 009 | 0 | 51.622.126 |
| 3. Increase in inventories | 010 | C | 0 |
| 4. Other cash flow decreases | 011 | 5.941.295 | $\Omega$ |
| II. Total decrease in cash flow from operating activities (008 to 011) | 012 | 72.926.606 | 108.044.262 |
| A1) NET INCREASE OF CASH FLOW FROM OPERATING ACTIVITIES (007-012) | 013 | $\Omega$ | |
| A2) NET DECREASE OF CASH FLOW FROM OPERATING ACTIVITIES (012-007) | 014 | 8.501.766 | 23.476.467 |
| CASH FLOW FROM INVESTING ACTIVITIES | |||
| 1. Cash flow from sale of long - term tangible and intangible assets | 015 | 291.237 | 288.252 |
| 2. Cash inflows from sale of equity and debt financial instruments | 016 | 57.628.331 | 31.300.000 |
| 3. Interest receipts | 017 | 4.264.333 | 7.125.121 |
| 4. Dividend receipts | 018 | $\theta$ | |
| 5. Other cash inflows from investing activities | 019 | 29.848.883 | 44.546.860 |
| III. Total cash inflows from investing activities(015 to 019) | 020 | 92.032.784 | 83.260.233 |
| 1. Cash outflows for purchase of long - term tangible and intangible assets | 021 | 4.032.068 | 7.075.933 |
| 2. Cash outflows for purchase of equity and debt financial instruments | 022 | 19.147.447 | 77.502.263 |
| 3. Other cash outflows from investing activities | 023 | 48.568.980 | 25.984.285 |
| IV. Total cash outflows from investing activities (021 to 023) | 024 | 71.748.495 | 110.562.481 |
| B1) NET INCREASE OF CASH FLOW FROM INVESTING ACTIVITIES(020-024) | 025 | 20.284.289 | |
| B2) NET DECREASE OF CASH FLOW FROM INVESTING ACTIVITIES(024-020) | 026 | 0 | 27.302.248 |
| CASH FLOW FROM FINANCING ACTIVITIES | |||
| 1. Cash receipts from issuance of equity and debt financial instruments | 027 | 67.163.618 | 75.719.107 |
| 2. Cash inflows from loans, debentures, credits and other borrowings | 028 | 53.342.261 | 41.064.615 |
| 3. Other cash inflows from financing activities | 029 | ||
| V. Total cash inflows from financing activities (027 to 029) | 030 | 120.505.879 | 116.783.722 |
| 1. Cash outflows for repayment of loans and bonds | 031 | 143.861.801 | 115.912.316 |
| 2. Dividends paid | 032 | 11.550 | 13.325 |
| 3. Cash outflows for finance lease | 033 | 2.068.854 | 67.118 |
| 4. Cash outflows for purchase of own stocks | 034 | 1.088.615 | 0 |
| 5. Other cash outflows from financing activities | 035 | 0 | $\Omega$ |
| VI. Total cash outflows from financing activities (031 do 035) | 036 | 147.030.820 | 115.992.759 |
| C1) NET INCREASE OF CASH FLOW FROM FINANCING ACTIVITIES (030-036) | 037 | 0 | 790.963 |
| C2) NET DECREASE OF CASH FLOW FROM FINANCING ACTIVITIES (036-030) | 038 | 26.524.941 | |
| Total increases of cash flows $(013 - 014 + 025 - 026 + 037 - 038)$ | 039 | ||
| Total decreases of cash flows $(014 - 013 + 026 - 025 + 038 - 037)$ | 040 | 14.742.418 | 49.987.752 |
| Cash and cash equivalents at the beginning of period | 041 | 59.491.598 | 62.898.004 |
| Increase in cash and cash equivalents | 042 | 0 | |
| Decrease in cash and cash equivalents | 043 | 14.742.418 | 49.987.752 |
| Cash and cash equivalents at the end of period | 044 | 44.749.180 | 12.910.252 |
| 01.01.2011 from |
$\overline{\mathbf{c}}$ | 30.09.2011 | |||
|---|---|---|---|---|---|
| Position | AOP | Previous year |
Current year | ||
| 2 | $\mathfrak{S}$ | 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 | 274.016.877 | 287.002.263 | ||
| 5. Profit / loss for the current year | 005 | 12.985.385 | 9.790.195 | ||
| 6. Revaluation of long - term tangible assets | 006 | 49.014.794 | 49.014.794 | ||
| 7. Revaluation of intangible assets | 007 | $\circ$ | |||
| 8. Revaluation of financial assets available for sale | 008 | 8.112.808 | 8.112.808 | ||
| 9. Other revaluation | 009 | 0 | |||
| (AOP 001 to 009) 10. Total capital and reserves |
010 | 429.628.995 | 439.419.191 | ||
| 11. Currency gains and losses arising from net investments in foreign operations | 011 | 0 | |||
| (part) 12. Current and deferred taxes |
012 | 0 | |||
| 13. Cash flow hedging | 013 | 0 | |||
| 14. Changes in accounting policies | 014 | 0 | 0 | ||
| 15. Correction of significant errors in prior periods | 015 | 0 | 0 | ||
| 16. Other changes in capital | 016 | 0 | 0 | ||
| 17. Total increase or decrease in capital (AOP 011 to 016) | 017 | 0 | |||
| 17 a. Attributed to equity holders of parent company | 018 | ||||
| 17 b. Attributed to minority interst | 019 |
STATEMENT OF CHANGES IN EQUITY
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