Adris Grupa d.d. Interim financial report at 30 September 2014

Transcription

1 Adris Grupa d.d. Interim financial report at 30 September 2014 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 INTERIM 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 In the first nine months of 2014 TDR operated under very unfavourable market circumstances. TDR s sales figure was 9 % lower than in the same period last year. Total cigarette consumption on the regional markets declined by an average of about 10%. The shift toward lower price segments is still going strong. Namely, in the last six years, the share of the lowest price segment in Croatia has doubled, while in Croatia s neighbouring country Bosnia and Herzegovina, the share has increased no less than four times. Also, consumption of fine-cut tobacco on the Croatian and the regional markets continues strong upward trend, the consumption share reaching an average of 15%. Three years ago this market segment had hardly existed. The Group's Tourism SBU recorded 2.88 million bed-nights (the same level as last year) and a 5% increase in average price. The rise in prices is a result of investment and increase in direct selling share. The current booking shows that the previous trends are going to be maintained by the end of the year. In September this year Adris tourist company Maistra entered into a contract with Atlantska plovidba, on the basis of which Maistra now owns 81.6 % of Hilton Imperial Hotel in Dubrovnik. After construction of the hotels Monte Mulini and Lone in Rovinj and having invested HRK 2.7 billion in the tourism division of the company, Adris continues investments in highquality hotel segment by moving into Dubrovnik, one of the most attractive destinations. Cooperation with the established international brand, Hilton, is an additional challenge of Maistra becoming the very best Croatian tourist company. In the first nine months of 2014 Cromaris sees 52% sales rise compared to the figures reported for the same period of the previous year. Exports increased by 50%, for the most part on the Italian market which is the biggest gilthead and sea bass market in Europe. Currently, Adris Grupa d.d. / Obala Vladimira Nazora 1 / Rovinj, Hrvatska tel.: +385 (0) , ; fax: +385 (0) / adris@adris.hr /

4 Cromaris is exporting three-quarters of its total sales. The company reports not only an increase in volume sales, but also 10% increase in selling prices. The investment in full reconstruction of fish hatchery and pre-growing system is underway, worth almost HRK 150 million. Fast and controlled growth and development of the company are ensured, while the production cycle time and manufacturing costs are reduced. This investment classifies Cromaris among the highly advanced companies. After acquisition of 39.70% of ordinary shares and the General Assembly meeting held in April this year, in September Adris capitalized the company Croatia osiguranje d.d. by providing HRK 840 million and so increased its ownership share to %. The funds paid in will allow faster and more efficient restructuring of the company, growth and development, to make it possible for CO to maintain and strengthen its position of the market leader in Croatia and prepare for a more significant move into the regional markets. A change in depreciation rates took place in the Group s Tobacco SBU in 2012, in accordance with actual assessment of economic life of assets, which resulted in increased depreciation in 2012 and Consequently, lower values are reported for this position. Description of most significant risks and uncertainties for the next report period Further decrease in purchasing power and rise in unemployment on the key markets may result in lower demand for cigarettes and shift of consumers' demand toward lower price segments. Increase in tax burden as a part of the harmonization process in accession to the EU and rising government budget deficits may have effects on increase in tax burden which directly generates increase in retail prices of cigarettes. This would additionally reduce the described demand for cigarettes and intensify the down-trading. Increase in VAT rate will have a negative impact on the Tourism SBU which will have a direct effect on a decline in the Company business results. Adris Grupa d.d. / Obala Vladimira Nazora 1 / Rovinj, Hrvatska tel.: +385 (0) , ; fax: +385 (0) / adris@adris.hr /

5 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 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.: 26 (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. 1 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 Position 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 Balance Sheet as at AOP note Previous period Current period

8 SHAREHOLDERS' EQUITY, RESERVES AND LIABILITIES A) SHAREHOLDERS' EQUITY AND RESERVES ( ) I. SHARE CAPITAL (SUBSCRIBED) II. CAPITAL RESERVES III. RESERVES FROM PROFIT ( ) Legal reserves Reserves for company's own shares Company's own stocks and shares (withholding item) Statutory reserves Other reserves IV. REVALUATION RESERVES V. RETAINED EARNINGS / LOSS ( ) Retained earnings Accumulated loss VI. PROFIT / LOSS FOR THE FINANCIAL YEAR ( ) Net gain Net loss VII. NON CONTROLLING INTEREST B) PROVISIONS (080 to 082) Provisions for pensions, severance payments and similar liabilities Provisions for tax liabilities Other provisions C) LONG TERM LIABILITIES (084 to 092) Liabilities due to affiliates Liabilities for loans, deposits and similar Liabilities to banks and other financ. institutions Liabilities for advance payments (long term) Accounts payable Liabilities for marketable securities Liabilities due to associates Other long term liabilities Deferred tax liabilities D) SHORT TERM LIABILITIES (094 to 105) Liabilities due to affiliates Liabilities for loans, deposits and similar 3. Liabilities to banks and other financ. institutions 4. Liabilities for advance payments Accounts payable Liabilities for marketable securities 7. Liabilities due to associates 8. Liabilities to employees Liabilities for taxes, contributions and similar expenses Liabilities due to shareholders for dividends 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 108 BALANCE SHEET SUPPLEMENT (to be completed by companies preparing consolidated financial statements) SHAREHOLDERS' EQUITY AND RESERVES 1. Assigned to parent company capital owners 2. Assigned to non controlling interest

9 Company: Adris Grupa d.d. Position 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 ( ) 1 PROFIT AND LOSS ACCOUNT for period from to 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 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

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 17b. Assigned to non controlling interest 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 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: TDR d.o.o. ROVINJ, OBALA VLADIMIRA NAZORA ADRIA RESORTS d.o.o. ROVINJ, OBALA VLADIMIRA NAZORA HRVATSKI DUHANI d.d. VIROVITICA, OSJEČKA ISTRAGRAFIKA d.d. ROVINJ, OBALA VLADIMIRA NAZORA INOVINE d.d. ZAGREB, DRAŠKOVIĆEVA CROATIA OSIGURANJE d.d. ZAGREB, MIRAMARSKA 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 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 ( ) 1 PROFIT AND LOSS ACCOUNT for period from to AOP note Previous year Current year Cumulative Quarter Cumulative Quarter Net loss ( ) 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

17 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

18 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