Adris Grupa d.d. Half-year financial report at 30 June 2016

Transcription

1 Adris Grupa d.d. Half-year financial report at 30 June 2016 Adris Grupa d.d. / Obala Vladimira Nazora 1 / Rovinj, Hrvatska tel.: +385 (0) , ; fax: +385 (0) / adris@adris.hr /

2 CONTENTS Page MANAGEMENT REPORT ON THE INTERIM FINANCIAL STATEMENT 1-3 HALF-YEAR FINANCIAL REPORT ADRIS GRUPA d.d. (unconsolidated and consolidated) 4-17 Adris Grupa d.d. / Obala Vladimira Nazora 1 / Rovinj, Hrvatska tel.: +385 (0) , ; fax: +385 (0) / adris@adris.hr /

3 Adris GRUPA Management Report on the Interim Financial Statement Indication of significant developments which occurred during the report period and effects of such developments on a condensed set of financial statements For the first six months of 2016 Maistra recorded 3% less bednights than for the first half of Average bednight rate reached a rise of 8% which led to an increase of 5% in operating revenue. The Tourism SBU works intensively on reconstruction and improvement in quality of the existing products. Investment in the Amarin hotel, a family-friendly hotel, is underway and its completion is scheduled for August this year. Maistra is also preparing to construct a new hotel Park. Significant investments in the camping sites - which are products with the quickest return on investment, are continued this year. In the most part, the investments include new mobile homes, development of the supporting infrastructure and improvement in quality of common facilities at the camping sites. Total investments in 2016 are estimated at more than HRK 400 million. The current booking figures show positive rising trends in tourists bednights and average price. In addition to quality improvement activities, Maistra is also focused on increasing recognisability and improving offering of the entire destination e.g. in May this year Maistra organized a notable sporting event the prestigious Beach Polo Tournament. For the first half of 2016, Cromaris recorded an 11% increase in sales compared to the first six months of last year. Exports grew by 16%, for the most part to Germany. Currently, about 80% of Cromaris sales have been made in foreign markets. Selling prices of fish have increased by 6%. Increases in sales volume and prices during the first six months of 2016 have resulted in revenues going up by 18 percent. Net profit amounts to HRK 7.2 million, whereas last year s net profit was 0.9 million. Adris Grupa d.d. / Obala Vladimira Nazora 1 / Rovinj, Hrvatska tel.: +385 (0) , ; fax: +385 (0) / adris@adris.hr /

4 Croatia osiguranje still holds a leading position in the Croatian market with a total share of 32.9 % or up 0.4 % over the previous reporting period. The company is a market leader in the non-life segment having a stable share of 38.7 %. The leading position is also maintained in life insurance with a market share of 20.6 % or by 1.2 percentage points more than in the first half of A total gross written premium recorded in Croatia amounts to HRK 1.6 billion which is at last year s level. The Group s gross written premium amounts to HRK 1.8 billion which is up 1% compared to last year. Health insurance operations see an increase at the Group level. Non-life claims ratio at the Group level is 56.9% and shows an improvement of 6.4 percentage points over the first half of last year. The combined ratio, as a key performance indicator, has improved by almost 6 percentage points in comparison with last year and amounts to CO Group s profit before taxation recorded for the first six months amounts to HRK 82 million whereas profit generated during the same last year s period was HRK 57 million, which represents a rise of 44%. Net profit is HRK 62 million or up 55% over the first half of The first restructuring phase has produced visible positive results in performance. Transformation of the company with the aim of a long-time sustainability and maintaining and strengthening its market position continues. In 2016 the company has embarked upon several projects in order to develop products and services and provide enhanced availability to the existing and future customers. Optimization of claims processing is continued. The organisation development project aims to increase vitality of the company, and includes establishment of an effective performance management system and career planning. Considering the current structure of Adris' financial assets, there is a strong impact of foreign currency translation loss during the first six months. The current reporting period is not comparable to the same period of last year, since tobacco business unit is not a part of the Group any more. Adris Grupa d.d. / Obala Vladimira Nazora 1 / Rovinj, Hrvatska tel.: +385 (0) , ; fax: +385 (0) / adris@adris.hr /

5 Description of most significant risks and uncertainties for the next reporting period The political environment and instability of certain competitors in the Mediterranean, e.g. Turkey, may result in increased demand for Croatian destinations. On the other hand, they may cause a price war in an effort to attract tourists. In the insurance business, a further price war, especially in the segment of automobile liability insurance, may have effect on instability of business results. Information on significant transactions between related parties produced in accordance with the applicable financial reporting standards In the current report period, goods and services transactions between the members of the Group were conducted in the ordinary and usual way. Adris Grupa d.d. / Obala Vladimira Nazora 1 / Rovinj, Hrvatska tel.: +385 (0) , ; fax: +385 (0) / adris@adris.hr /

6 APPENDIX 1. For period from: to Quarter financial statement Registration number (MB): Registration number (MBS): Personal identification number (OIB): Company: ADRIS GRUPA d.d. ZIP Code and place: ROVINJ Street number: OBALA VLADIMIRA NAZORA 1 postmaster@adris.hr Internet address: Code and county/city name: 374 ROVINJ Code and district: Consolidated statements: 18 ISTARSKA Employee no.: 40 (at end of quarter) NO NACE Code: 7010 Consolidated companies (IFRS): Headquarters: MB: Contact person: g.vitomir Palinec Telefon: Telefaks: postmaster@adris.hr

7 Company: ADRIS GRUPA d.d. Position Balance Sheet as at ASSETS A) SUBSCRIBED CAPITAL UNPAID B) NON CURRENT ASSETS I. INTANGIBLE ASSETS (004 to 009) 1. Expenses for development 2. Concessions, patents, licences, brands and servicemarks, software and other rights 3. Goodwill 4. Advance payments for purchase of intangible assets 5. Intangible assets in progress 6. Other intangible assets II. TANGIBLE ASSETS (011 to 019) 1. Land 2. Buildings 3. Plants and machinery 4. Tools, plant inv. and means of transp. 5. Biological assets 6. Advance payments for tangible assets 7. Tangible assets in progress 8. Other tangible assets 9. Investment property III. LONG TERM FINANCIAL ASSETS (021 to 027) 1. Stakes (shares) in affiliates 2. Loans due from affiliated companies 3. Investments in associates 4. Loans to participating interest 5. Investment into marketable securities 6. Granted loans, deposits and alike 7. Other long term financial assets 8. Investment accounted by equity method IV. LONG TERM RECEIVABLES (029 to 031) 1. Receivables from affiliates 2. Accounts receivable - sales on credit 3. Other receivables V. DEFERRED TAX ASSETS C) CURRENT ASSETS ( ) I. INVENTORIES (035 to 041) 1. Raw material and supplies 2. Work in progress 3. Products 4. Merchandise 5. Prepayments for inventories 6. Other available-for-sale assets 7. Biological asset II. ACCOUNTS RECEIVABLE AND OTHER RECEIVABLES (043 to 048) 1. Receivables from affiliates 2. Accounts receivable 3. Receivables from associates 4. Receivables from employees and member companies 5. Accounts due from the State and other institutions 6. Other receivables III. SHORT TERM FINANCIAL ASSETS (050 to 056) 1. Stakes (shares) in affiliates 2. Loans due from affiliated companies 3. Investments in associates 4. Loans to participating interest 5. Investment into marketable securities 6. Granted loans, deposits and alike 7. Other long term financial assets IV. CASH AND CASH EQUIVALENTS D) DEFERRED CHARGES AND CALCULATED INCOME E) TOTAL ASSETS ( ) F) PRO-MEM ITEMS AOP Previous Current period note period

8 SHAREHOLDERS' EQUITY, RESERVES AND LIABILITIES A) SHAREHOLDERS' EQUITY AND RESERVES ( ) I. SHARE CAPITAL (SUBSCRIBED) II. CAPITAL RESERVES III. RESERVES FROM PROFIT ( ) 1. Legal reserves 2. Reserves for company's own shares 3.Company's own stocks and shares (withholding item) 4. Statutory reserves 5. Other reserves IV. REVALUATION RESERVES V. RETAINED EARNINGS / LOSS ( ) 1. Retained earnings 2. Accumulated loss VI. PROFIT / LOSS FOR THE FINANCIAL YEAR ( ) 1. Net gain 2. Net loss VII. NON CONTROLLING INTEREST B) PROVISIONS (080 to 082) 1. Provisions for pensions, severance payments and similar liabilities 2. Provisions for tax liabilities 3. Other provisions C) LONG TERM LIABILITIES (084 to 092) 1. Liabilities due to affiliates 2. Liabilities for loans, deposits and similar 3. Liabilities to banks and other financ. institutions 4. Liabilities for advance payments (long term) 5. Accounts payable 6. Liabilities for marketable securities 7. Liabilities due to associates 8. Other long term liabilities 9. Deferred tax liabilities D) SHORT TERM LIABILITIES (094 to 105) 1. Liabilities due to affiliates 2. Liabilities for loans, deposits and similar 3. Liabilities to banks and other financ. institutions 4. Liabilities for advance payments 5. Accounts payable 6. Liabilities for marketable securities 7. Liabilities due to associates 8. Liabilities to employees 9. Liabilities for taxes, contributions and similar expenses 10. Liabilities due to shareholders for dividends 11. Liabilities for long term assets available for sale 12. Other short term liabilities E) ACCRUALS AND DEFERRED ITEMS F) TOTAL SHAREHOLDERS' EQUITY, RESERVES AND LIABILITIES ( ) G) PRO-MEM ITEMS BALANCE SHEET SUPPLEMENT (to be completed by companies preparing consolidated financial statements) SHAREHOLDERS' EQUITY AND RESERVES 1. Assigned to parent company capital owners Assigned to non controlling interest

9 Company: ADRIS GRUPA d.d. Position PROFIT AND LOSS ACCOUNT for period from to I. OPERATING REVENUES ( ) 1. Sales revenue 2. Other operating revenues II. OPERATING EXPENSES ( ) 1. Decrease / (Increase) in value of work in progress and finished goods 2. Material expenses (117 to 119) a) Raw material and material b) Cost of goods sold c) Other external costs 3. Employee expenses (121 to 123) a) Net salaries and wages b) Expenses for taxes and contributions from salaries c) Contributions on salaries 4. Depreciation and amortization 5. Other expenses 6. Impairment of assets ( ) a) non current assets (excluded financial assets) b) current assets (excluded financial assets) 7. Provisions 8. Other operating expenses III. FINANCIAL REVENUES (132 to 136) 1. Interest, foreign exchange gains, dividend income, and other similar income with related parties 2. Interest, foreign exchange gains, dividend income, and other similar income 3. Share of other comprehensive income of associates 4. Unrealised gains 5. Other financial revenues IV. FINANCIAL EXPENSES (138 to 141) 1. Interest, foreign exchange loss, and other expenses income with related parties 2. Interest, foreign exchange loss, and other similar expenses 3. Unrealised loss on financial assets 4. Other financial expenses V. SHARE IN GAIN FROM ASSOCIATES VI. SHARE IN LOSS FROM ASSOCIATES VII. EXTRAORDINARY REVENUES VIII. EXTRAORDINARY EXPENSES IX. TOTAL REVENUES ( ) X. TOTAL EXPENSES ( ) XI. PROFIT OR LOSS BEFORE TAX ( ) 1. Profit before tax ( ) 2. Loss before tax ( ) XII. INCOME TAX XIII. NET GAIN OR LOSS FOR PERIOD ( ) 1. Net gain ( ) 2. Net loss ( ) AOP note Previous year Current year Cumulative Quarter Cumulative Quarter

10 SUPPLEMENT (to be completed by companies preparing consolidated financial statements) XIV. NET GAIN OR LOSS FOR PERIOD 1. ATTRIBUTABLE TO OWNER OF THE PARENT 2. ATTRIBUTABLE TO NOT CONTROLLING INTEREST STATEMENT OF COMPREHENSIVE INCOME/ LOSS (to be completed by companies preparing consolidated financial statements according to IFRS) I. NET GAIN OR LOSS FOR PERIOD (= 152) II. OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX (159 to 165) Exchange differences from net investments of foreign operations 2. Changes in revaluation reserves from tangible and intangible assets 3. Gain or loss from revaluation of financial assets available for sale Gain or loss from cash flow hedges 5. Gain or loss from net investment hedge 6. Share of other comprehensive income/loss of associates 7. Actuarial gain/loss on post employment benefit obligations III. TAX ON OTHER COMPREHENSIVE INCOME IV. NET OTHER COMPREHENSIVE INCOME/ LOSS FOR PERIOD ( ) V. TOTAL COMPREHENSIVE INCOME/ LOSS ( ) SUPPLEMENT (to be completed by companies preparing consolidated financial statements) VI. TOTAL COMPREHENSIVE INCOME/ LOSS FOR PERIOD 1. ATTRIBUTABLE TO OWNER OF THE PARENT 2. ATTRIBUTABLE TO NOT CONTROLLING INTEREST

11 Company: ADRIS GRUPA d.d. STATEMENT OF CASH FLOWS - INDIRECT METHOD for period from to Position 1 CASH FLOWS FROM OPERATING ACTIVITIES 1. Profit before tax 2. Depreciation and amortization 3.Increase in short term liabilities 4. Decrease in short term receivables 5. Inventory decrease 6. Other increase in cash flow from operating activities I. Total increase in cash flow from operating activities (001 to 006) 1. Decrease in short term liabilities 2. Increase in short term receivables 3. Inventory increase 4. Other decrease in cash flow from operating activities II. Total decrease in cash flow from operating activities (008 to 011) A1) NET INCREASE IN CASH FLOW FROM OPERATING ACTIVITIES ( ) A2) NET INCREASE IN CASH FLOW FROM OPERATING ACTIVITIES ( ) CASH FLOWS FROM INVESTING ACTIVITIES 1. Proceeds from sale of PPE and intangible assets 2. Proceeds from sale of equity shares and securities 3. Interest received 4. Dividends received 5. Other proceeds from investing activities III. Total proceeds from investing activities (015 to 019) 1. Purchases of property, plant and equipment (PPE) and intangible assets (IA) 2. Purchases of available for sale financial assets 3. Other purchases of investment activities IV. Total purchases of investing activities (021 to 023) B1) NET INCREASE IN CASH FLOW FROM INVESTING ACTIVITIES ( ) B2) NET DECREASE IN CASH FLOW FROM INVESTING ACTIVITIES ( ) CASH FLOWS FROM FINANCING ACTIVITIES 1. Proceeds from issuance of ordinary shares and securities 2. Proceeds from borrowings 3. Other proceeds from financing activities V. Total proceeds from financing activities (027 to 029) 1. Repayments of borrowings 2. Dividends paid 3. Repayments of finance lease 4. Purchase of treasury shares 5. Other purchases of financing activities VI. Total purchase of financing activities (031 to 035) C1) NET INCREASE IN CASH FLOW FROM FINANCING ACTIVITIES ( ) C2) NET DECREASE IN CASH FLOW FROM FINANCING ACTIVITIES ( ) Total increase in cash flow ( ) Total decrease in cash flow ( ) Cash and cash equivalents at beginning of year Increase in cash and cash equivalents Decrease in cash and cash equivalents Cash and cash equivalents at end of year AOP note Previous period Current period

12 for period from to Share capital (subscribed) 2. Capital reserves 3. Reserves from profit 4. Retained earnings or accumulated deficit 5. Net gain or loss in current year 6. Revaluation of long term tangible assets 7. Revaluation of intangible assets 8. Revaluation of financial assets available for sale 9. Other revaluation 10.Total Capital and reseves (AOP 001 to 009) 11. Exchange differences from net investments of foreign operations 12. Current and deferred taxes (part) 13. Cash flow hedges 14. Changes in accounting policies 15. Adjustment of significant errors from previous period 16. Other equity alterations 17. Total increase or decrease of capital (AOP 011 to 016) 17a. Assigned to parent company capital owners 17b. Assigned to non controlling interest STATEMENT OF CHANGES IN EQUITY Position AOP note Previous period Current period

13 APPENDIX 1. For period from: to Quarter financial statement Registration number (MB): Registration number (MBS): Personal identification number (OIB): Company: ADRIS GRUPA d.d. ZIP Code and place: ROVINJ Street number: OBALA VLADIMIRA NAZORA 1 postmaster@adris.hr Internet address: Code and county/city name: 374 ROVINJ Code and district: Consolidated statements: 18 ISTARSKA Employee no.: (at end of quarter) YES NACE Code: 7010 Consolidated companies (IFRS): Headquarters: MB: ADRIA RESORTS d.o.o. ROVINJ, OBALA VLADIMIRA NAZORA CROATIA osiguranj e d.d. ZAGREB, MIRAMARSKA ABILIA d.o.o. ROVINJ, OBALA VLADIMIRA NAZORA TVORNICA DUHANA ZAGREB d.d. ROVINJ, OBALA VLADIMIRA NAZORA Contact person: g.vitomir Palinec Telefon: Telefaks: postmaster@adris.hr

14 Company: ADRIS GRUPA d.d. Position Balance Sheet as at ASSETS A) SUBSCRIBED CAPITAL UNPAID B) NON CURRENT ASSETS ( ) I. INTANGIBLE ASSETS (004 to 009) 1. Expenses for development 2. Concessions, patents, licences, brands and servicemarks, software and other rights 3. Goodwill 4. Advance payments for purchase of intangible assets 5. Intangible assets in progress 6. Other intangible assets II. TANGIBLE ASSETS (011 to 019) 1. Land 2. Buildings 3. Plants and machinery 4. Tools, plant inv. and means of transp. 5. Biological assets 6. Advance payments for tangible assets 7. Tangible assets in progress 8. Other tangible assets 9. Investment property III. LONG TERM FINANCIAL ASSETS (021 to 027) 1. Stakes (shares) in affiliates 2. Loans due from affiliated companies 3. Investments in associates 4. Loans to participating interest 5. Investment into marketable securities 6. Granted loans, deposits and alike 7. Other long term financial assets 8. Investment accounted by equity method IV. LONG TERM RECEIVABLES (029 to 031) 1. Receivables from affiliates 2. Accounts receivable - sales on credit 3. Other receivables V. DEFERRED TAX ASSETS C) CURRENT ASSETS ( ) I. INVENTORIES (035 to 041) 1. Raw material and supplies 2. Work in progress 3. Products 4. Merchandise 5. Prepayments for inventories 6. Other available-for-sale assets 7. Biological asset II. ACCOUNTS RECEIVABLE AND OTHER RECEIVABLES (043 to 048) 1. Receivables from affiliates 2. Accounts receivable 3. Receivables from associates 4. Receivables from employees and member companies 5. Accounts due from the State and other institutions 6. Other receivables III. SHORT TERM FINANCIAL ASSETS (050 to 056) 1. Stakes (shares) in affiliates 2. Loans due from affiliated companies 3. Investments in associates 4. Loans to participating interest 5. Investment into marketable securities 6. Granted loans, deposits and alike 7. Other long term financial assets IV. CASH AND CASH EQUIVALENTS D) DEFERRED CHARGES AND CALCULATED INCOME E) TOTAL ASSETS ( ) F) PRO-MEM ITEMS AOP note Previous period Current period

15 SHAREHOLDERS' EQUITY, RESERVES AND LIABILITIES A) SHAREHOLDERS' EQUITY AND RESERVES ( ) I. SHARE CAPITAL (SUBSCRIBED) II. CAPITAL RESERVES III. RESERVES FROM PROFIT ( ) 1. Legal reserves 2. Reserves for company's own shares 3.Company's own stocks and shares (withholding item) 4. Statutory reserves 5. Other reserves IV. REVALUATION RESERVES V. RETAINED EARNINGS / LOSS ( ) 1. Retained earnings 2. Accumulated loss VI. PROFIT / LOSS FOR THE FINANCIAL YEAR ( ) 1. Net gain 2. Net loss VII. NON CONTROLLING INTEREST B) PROVISIONS (080 to 082) 1. Provisions for pensions, severance payments and similar liabilities 2. Provisions for tax liabilities 3. Other provisions C) LONG TERM LIABILITIES (084 to 092) 1. Liabilities due to affiliates 2. Liabilities for loans, deposits and similar 3. Liabilities to banks and other financ. institutions 4. Liabilities for advance payments (long term) 5. Accounts payable 6. Liabilities for marketable securities 7. Liabilities due to associates 8. Other long term liabilities 9. Deferred tax liabilities D) SHORT TERM LIABILITIES (094 to 105) 1. Liabilities due to affiliates 2. Liabilities for loans, deposits and similar 3. Liabilities to banks and other financ. institutions 4. Liabilities for advance payments 5. Accounts payable 6. Liabilities for marketable securities 7. Liabilities due to associates 8. Liabilities to employees 9. Liabilities for taxes, contributions and similar expenses 10. Liabilities arising from share in the result 11. Liabilities for long term assets available for sale 12. Other short term liabilities E) ACCRUALS AND DEFERRED ITEMS F) TOTAL SHAREHOLDERS' EQUITY, RESERVES AND LIABILITIES ( ) G) PRO-MEM ITEMS BALANCE SHEET SUPPLEMENT (to be completed by companies preparing consolidated financial statements) SHAREHOLDERS' EQUITY AND RESERVES 1. Assigned to parent company capital owners Assigned to non controlling interest

16 Company: ADRIS GRUPA d.d. Position PROFIT AND LOSS ACCOUNT for period from to I. OPERATING REVENUES ( ) 1. Sales revenue 2. Other operating revenues II. OPERATING EXPENSES ( ) 1. Decrease / (Increase) in value of work in progress and finished goods 2. Material expenses (117 to 119) a) Raw material and material b) Cost of goods sold c) Other external costs 3. Employee expenses (121 to 123) a) Net salaries and wages b) Expenses for taxes and contributions from salaries c) Contributions on salaries 4. Depreciation and amortization 5. Other expenses 6. Impairment of assets ( ) a) non current assets (excluded financial assets) b) current assets (excluded financial assets) 7. Provisions 8. Other operating expenses III. FINANCIAL REVENUES (132 to 136) 1. Interest, foreign exchange gains, dividend income, and other similar income with related parties 2. Interest, foreign exchange gains, dividend income, and other similar income 3. Share of other comprehensive income of associates 4. Unrealised gains 5. Other financial revenues IV. FINANCIAL EXPENSES (138 to 141) 1. Interest, foreign exchange loss, and other expenses income with related parties 2. Interest, foreign exchange loss, and other similar expenses 3. Unrealised loss on financial assets 4. Other financial expenses V. SHARE IN GAIN FROM ASSOCIATES VI. SHARE IN LOSS FROM ASSOCIATES VII. EXTRAORDINARY REVENUES VIII. EXTRAORDINARY EXPENSES IX. TOTAL REVENUES ( ) X. TOTAL EXPENSES ( ) XI. PROFIT OR LOSS BEFORE TAX ( ) 1. Profit before tax ( ) 2. Loss before tax ( ) XII. INCOME TAX XIII. NET GAIN OR LOSS FOR PERIOD ( ) 1. Net gain ( ) 2. Net loss ( ) AOP note Previous year Current year Cumulative Quarter Cumulative Quarter

17 SUPPLEMENT (to be completed by companies preparing consolidated financial statements) XIV. NET GAIN OR LOSS FOR PERIOD 1. ATTRIBUTABLE TO OWNER OF THE PARENT ATTRIBUTABLE TO NOT CONTROLLING INTEREST STATEMENT OF COMPREHENSIVE INCOME/ LOSS (to be completed by companies preparing consolidated financial statements according to IFRS) I. NET GAIN OR LOSS FOR PERIOD (= 152) II. OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX (159 to 165) Exchange differences from net investments of foreign operations Changes in revaluation reserves from tangible and intangible assets Gain or loss from revaluation of financial assets available for sale Gain or loss from cash flow hedges Gain or loss from net investment hedge Share of other comprehensive income/loss of associates Actuarial gain/loss on post employment benefit obligations III. TAX ON OTHER COMPREHENSIVE INCOME IV. NET OTHER COMPREHENSIVE INCOME/ LOSS FOR PERIOD ( ) V. TOTAL COMPREHENSIVE INCOME/ LOSS ( ) SUPPLEMENT (to be completed by companies preparing consolidated financial statements) VI. TOTAL COMPREHENSIVE INCOME/ LOSS FOR PERIOD 1. ATTRIBUTABLE TO OWNER OF THE PARENT ATTRIBUTABLE TO NOT CONTROLLING INTEREST

18 Company: ADRIS GRUPA d.d. STATEMENT OF CASH FLOWS - INDIRECT METHOD for period from to Position 1 CASH FLOWS FROM OPERATING ACTIVITIES 1. Profit before tax 2. Depreciation and amortization 3.Increase in short term liabilities 4. Decrease in short term receivables 5. Inventory decrease 6. Other increase in cash flow from operating activities I. Total increase in cash flow from operating activities (001 to 006) 1. Decrease in short term liabilities 2. Increase in short term receivables 3. Inventory increase 4. Other decrease in cash flow from operating activities II. Total decrease in cash flow from operating activities (008 to 011) A1) NET INCREASE IN CASH FLOW FROM OPERATING ACTIVITIES ( ) A2) NET INCREASE IN CASH FLOW FROM OPERATING ACTIVITIES ( ) CASH FLOWS FROM INVESTING ACTIVITIES 1. Proceeds from sale of PPE and intangible assets 2. Proceeds from sale of equity shares and securities 3. Interest received 4. Dividends received 5. Other proceeds from investing activities III. Total proceeds from investing activities (015 to 019) 1. Purchases of property, plant and equipment (PPE) and intangible assets (IA) 2. Purchases of available for sale financial assets 3. Other purchases of investment activities IV. Total purchases of investing activities (021 to 023) B1) NET INCREASE IN CASH FLOW FROM INVESTING ACTIVITIES ( ) B2) NET DECREASE IN CASH FLOW FROM INVESTING ACTIVITIES ( ) CASH FLOWS FROM FINANCING ACTIVITIES 1. Proceeds from issuance of ordinary shares and securities 2. Proceeds from borrowings 3. Other proceeds from financing activities V. Total proceeds from financing activities (027 to 029) 1. Repayments of borrowings 2. Dividends paid 3. Repayments of finance lease 4. Purchase of treasury shares 5. Other purchases of financing activities VI. Total purchase of financing activities (031 to 035) C1) NET INCREASE IN CASH FLOW FROM FINANCING ACTIVITIES ( ) C2) NET DECREASE IN CASH FLOW FROM FINANCING ACTIVITIES ( ) Total increase in cash flow ( ) Total decrease in cash flow ( ) Cash and cash equivalents at beginning of year Increase in cash and cash equivalents Decrease in cash and cash equivalents Cash and cash equivalents at end of year AOP note Previous period Current period

19 STATEMENT OF CHANGES IN EQUITY for period from to Share capital (subscribed) 2. Capital reserves 3. Reserves from profit 4. Retained earnings or accumulated deficit 5. Net gain or loss in current year 6. Revaluation of long term tangible assets 7. Revaluation of intangible assets 8. Revaluation of financial assets available for sale 9. Other revaluation 10.Total Capital and reseves (AOP 001 to 009) 11. Exchange differences from net investments of foreign operations 12. Current and deferred taxes (part) 13. Cash flow hedges 14. Changes in accounting policies 15. Adjustment of significant errors from previous period 16. Other equity alterations 17. Total increase or decrease of capital (AOP 011 to 016) 17a. Assigned to parent company capital owners 17b. Assigned to non controlling interest Position AOP note Previous period Current period