Adris Grupa d.d. Half-year financial report at 30 June 2014

Transcription

1 Adris Grupa d.d. Half-year financial report at 30 June 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 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 In the first quarter of 2014 TDR operated under very unfavourable market circumstances. Growth in unemployment rate, decrease in the purchasing power and economic uncertainties on one hand, and a constant rise in tax burden on the key markets within the region on the other hand. Under such circumstances, consumption on the key markets declined, as expected, by an average of more than 10%. TDR s sales figure for the first half of 2014 was 12 % lower than for the same period of the last year. The shift toward lower price segments the so called down trading is still going strong. Also, a demand for fine-cut tobacco increases significantly. For example, in Croatia s neighbouring country Bosnia and Herzegovina, the fine-cut tobacco share in consumption is over 20% and three years ago it was only 1%. The Group's Tourism SBU recorded 9% more bednights than in the first half of The achieved average bednight rate grew by 3%. Maistra completed a major part of its investments in reconstruction and improvement in quality of the existing products. The most significant investment is made in reconstruction of the Lone Bay walkway and beach. The investments in reconstruction and service quality improvement at the camping sites of Polari and Valkanala are finalized by construction of mobile homes and superior parcels. Also, the reconstruction of common facilities (swimming pools, catering and hospitality facilities, multi-purpose playground) in the apartment villages (Villas Rubin and Amarin) is completed. The total investments in 2014 are expected to amount HRK 135 million. The current booking confirms positive trends regarding growth in bednights and increase in average bednight rate. In addition to the investments made to improve quality of its facilities, Maistra is also focused on increasing recognisability and offer of the entire destination which resulted in organisation of the event in the Red Bull Air Race World Championship which took place in Rovinj. Adris Grupa d.d. / Obala Vladimira Nazora 1 / Rovinj, Hrvatska tel.: +385 (0) , ; fax: +385 (0) / adris@adris.hr /

4 In the first half of 2014 Cromaris sees 60% sales rise compared to the figures reported for the first six months of the previous year. Exports increased by 88%, for the most part on the Italian market which is the biggest gilthead and sea bass market in Europe. At the moment, Cromaris is exporting three- quarters of its total sales. The company reports not only an increase in volume sales, but also in selling prices by 12%. The investment in full reconstruction of fish hatchery and pre-growing system is underway, too. So, Cromaris remains vertically integrated and from a technological point of view - very advanced company. Quick and controlled growth and development are ensured, the production cycle time is reduced and consequently manufacturing costs. Acquisition of the company Croatia osiguranje d.d. was formally ended in April By its entry into insurance business, Adris diversifies its investment portfolio, thus starting the strategic portfolio restructuring and defining a new pillar of the system. 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 in 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. The Tourism SBU is expected to be affected by stagnation in economic performance of the key source markets and reduced household budgets for holiday spending. Also, bad economic situation of major competitors, e.g. Greece, Spain and Portugal, may affect further policy of damping prices on the Mediterranean. Adris Grupa d.d. / Obala Vladimira Nazora 1 / Rovinj, Hrvatska tel.: +385 (0) , ; fax: +385 (0) / adris@adris.hr /

5 Political instability in Ukraine, the rouble s decline and changes relating to the Russian market tour-operators will most certainly have effect on declining demand on the mentioned source markets. 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.: 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 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 ( ) 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 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) PROFIT AND LOSS ACCOUNT for period from to 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 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 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: 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. 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

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) PROFIT AND LOSS ACCOUNT for period from to Interest, foreign exchange gains, dividend income, and other similar income with related parties 1 AOP note Previous year Current year Cumulative Quarter Cumulative Quarter Interest, foreign exchange gains, dividend income, and other similar income Share of other comprehensive income of associates Unrealised gains Other financial revenues IV. FINANCIAL EXPENSES (138 to 141) Interest, foreign exchange loss, and other expenses income with related parties Interest, foreign exchange loss, and other similar expenses Unrealised loss on financial assets 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 ( ) Profit before tax ( ) Loss before tax ( ) XII. INCOME TAX XIII. NET GAIN OR LOSS FOR PERIOD ( ) Net gain ( ) 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) 1. 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 4. 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

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 for period from to Position 1 1. 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 AOP note Previous period Current period