Quarterly financial statements -TFI-POD

Transcription

1 ATTACHMENT. Reporting period to Quarterly financial statements -TFI-POD Tax number (MB): Registration number (MBS): Personal identification number (OIB): Issuer: PETROKEMIJA d.d. Postal code and location: KUTINA Street and number: ALEJA VUKOVAR 4 fin@petrokemija.hr Internet address: Code and city / municipality 220 KUTINA Code and county Consolidated Report 3 SISAČKO-MOSLAVAČKA Number of employees: (at the end of trimester) YES Business activity code: 205 Entities in consolidation (according to IFRS) Registered seat: Tax number (MB): RESTORAN PETROKEMIJA D.O.O. KUTINA PETROKEMIJA D.O.O. NOVI SAD PETROKEMIJA D.O.O. NOVO MESTO Book-keeping office: PETROKEMIJA d.d. KUTINA Contact person MARINA MARIĆ (name and surname of the contact person) Telephone: Fax: marina.maric@petrokemija.hr Name and surname: BORIS MESARIĆ, ZDENKA KRSTANOVIĆ (authorized representatives) Documents to be published:. Financial Statements (Balance Sheet, Profit and Loss Account, Cash Flow Statement, Change in Capital Statement and Notes to Financial Statements 2. Statement of persons in charge of making Financial Statements 3. Management Board's Report (seal) (signature of authorized representative)

2 PETROKEMIJA GROUP d.d. BALANCE SHEET as of AOP code Previous period Current period ASSETS A) RECEIVABLES FOR SUBSCRIBED AND UNPAID EQUITY B) NON-CURRENT ASSETS I. INTENGIBLE ASSETS II. TANGIBLE ASSETS III. LONG-TERM FINANCIAL ASSETS IV. TRADE RECEIVABLES V. DIFERRED TAX C) CURRENT ASSETS I. INVENTORIES II. TRADE RECEIVABLES III. SHORT-TERM FINANCIAL ASSETS IV. CASH IN BANK AND ON HAND D) PREPAID EXPENSES AND ACCRUED INCOME E) LOSS IN EXCESS OF VALUE AND CAPITAL F) TOTAL ASSETS G) OFF BALANCE SHEET ITEMS LIABILITIES A) CAPITAL AND RESERVES I. SHARE (SUBSCRIBED) CAPITAL II. CAPITAL RESERVES III. RESERVES FROM PROFIT IV. REVALUATION RESERVES V. RETAINED PROFIT VI. LOSS CARRIED FORWARD VII. PROFIT FOR THE YEAR VIII. LOSS FOR THE YEAR IX. MINORITY INTEREST B) PROVISIONS C) NON-CURRENT LIABILITIES D) CURRENT LIABILITIES E) ACCRUALS AND DIFERRED INCOME F) TOTAL LIABILITES G) OFF BALANCE SHEET ITEMS BALANCE SHEET SUPPLEMENT (to be completed by entities that prepare consolidated financial statement) CAPITAL AND RESERVES. Credited to parent company capital owners Credited to minority interest 034

3 INCOME STATEMENT PETROKEMIJA GROUP d.d. 3. Cost of material 4. Staff costs 5. Depreciation and amortisation 6. Other expenses 7. Impairment and charges 8. Provisions 9. Other operating expenses III. FINANCE REVENUE for the period I. OPERATING REVENUE. Sales revenue 2. Income from own consumption of products, goods and services 3. Other operating revenue II. OPERATING EXPENSES. Decrease of inventories in work in progress and finished products 2. Increse of inventories in work in progress and finished products to. Interest, exchange rate fluctuations, dividend and similar from associated companies 2. Interest, exchange rate fluctuations, dividend and similar from non-associated companies AOP code Cumulative Quarter Cumulative Quarter Previous period Current period Part of revenue from associated companies and participating interest 4. Unrealised gains (revenues) 5. Other financial revenue IV. FINANCE COSTS. Interest, exchange rate fluctuations and other costs with associated companies 2. Interest, exchange rate fluctuations and other costs with non-associated companies 3. Unrealised losses (costs) from finance assets 4. Other finance costs V. EXTRAORDINARY - OTHER REVENUE VI. EXTRAORDINARY - OTHER COSTS VII. TOTAL REVENUES VIII. TOTAL EXPENSES IX. PROFIT BEFORE TAX X. LOSS BEFORE TAX XI. PROFIT TAX XII. PROFIT FOR THE PERIOD / from continued operations XIII. LOSS FOR THE PERIOD / from discontinued operations SUPPLEMENT TO INCOME STATEMENT (to be completed by companies that prepare consolidated financial statements) XIV.* PROFIT CREDITED TO PARENT COMPANY CAPITAL OWNERS XV.* PROFIT CREDITED TO MINORITY INTEREST 070 XVI.* LOSS CHARGED TO PARENT COMPANY CAPITAL OWNERS XVII.* LOSS CHARGED TO MINORITY INTEREST 072

4 CASH FLOW STATEMENT - Indirect method for the period to PETROKEMIJA GROUP d.d. CASH FLOW FROM OPERATING ACTIVITIES. Profit before tax 2. Depreciation and amortisation 3. Increase in short-term liabilities 4. Decrease in short-term receivables 5. Decrease in inventories 6. Other increase of cash flow I. Total increase of cash flow from operating activities. Decrease in short-term liabilities 2. Increase in short-term payables 3. Increase in inventories 4. Other decrease in cash flow II. Total decrease in cash flow from operating activities A) NET INCREASE IN CASH FLOW FROM OPERATING ACTIVITIES A2) NET DECREASE IN CASH FLOW FROM OPERATING ACTIVITIES CASH FLOW FROM INVESTING ACTIVITIES. Cash proceeds from sale of non-current tangible and intangible assets 2. Cash proceeds from sale of equity and debt security instruments 3. Cash proceeds from interest payment 4. Cash proceeds of dividend payment 5. Other cash proceeds from investing activities III. Total cash inflow from investing activities. Cash outflow for acquisition of non-current tangible and intangible assets 2. Cash outflow for acquisition of equity and debt security instruments 3. Other cash outflows from investing activities IV. Total cash outflow from investing activities B) NET CASH FLOW FROM INVESTING ACTIVITIES B2) NET CASH OUTFLOW FROM INVESTING ACTIVITIES CASH FLOW FROM FINANCE ACTIVITIES. Cash inflow from issuing equity and debt financial instruments 2. Cash inflow from loan principals, debentures, credits and other borrowings 3. Other cash inflows from finance activities V. Total cash inflow from finance activities. Cash outflow for repayment of loan principal and bonds 2. Cash outflow for dividend payment 3. Cash outflow for finance lease 4. Cash outflow for buyback of own shares 5. Other cash outflow from finance activities VI. Total cash outflow for finance activities C) NET CASH FLOW INCREASE FROM FINANCE ACTIVITIES C2) NET CASH FLOW DECREASE FROM FINANCE ACTIVITIES Total increase of cash flow Total decrease of cash flow Cash and cash equivalents at the beginning of the period Increase of cash and cash equivalents Decrease of cash and cash equivalents Cash and cash equivalents at the end of the period AOP code Previous period Current period

5 STATEMENT ON CHANGES IN EQUITY PETROKEMIJA GROUP d.d. from to AOP code Previous period Increase Decrease Current period. Subscribed capital 2. Capital reserves 3. Reserves from profit 4. Retained profit or loss carried forward 5. Profit or loss for the year 6. Revaluation of non-current tangible assets 7. Revaluation of intangible assets 8. Revaluation of financial assets available for sale 9. Other revaluation 0. Exchange differences on translation of financial statements of foreign operations. Current and deferred taxes (part) 2. Protection of cash flow 3. Changes in accounting policies 4. Adjustment of significant errors from previous periods 5. Other changes in capital 6. Total increase or decrease of capital 6a. Creditet to parent company capital owners 6b. Credited to minority interest previous year

6 Note The consolidation of financial reports of Petrokemija Group is made from single financial reports of Petrokemija d.d. parent company and daughter companies - Restoran Petrokemija d.o.o., Petrokemija d.o.o. Novi Sad and Petrokemija d.o.o. Novo Mesto. The daughter companies have no significant influence on the Petrokemija Group overall financial result. Petrokemija's d.d. business result in 2009 indicates significant negative impact of the global financial crisis which particularly influenced fall in demand and price of fertilizer and, at the same time, rise in price of basic raw material natural gas. A slowdown in business activities in agriculture, typical for 2009 in not only domestic, but also regional and global fertilizer markets, brought about a 33.5% fall of income, while the expenses were reduced by 23% as compared to year The negative trend, compared to last year is shown in the business and financial relations segment - the actual loss from ordinary activities is approximately HRK 24.8 million and that from financial activities HRK 25.8 million. The year's loss is HRK million and the EBITDA (Earning Before Interest, Taxation. Depreciation and Amortization) is HRK 43.3 million in the negative. A part of the reported loss in amount of HRK 58.9 million will be covered from reserves and retained profit from previous years. Lower actual operating income and expenses compared to those of the previous year are due to lower input and output prices in part of the production and a fall in activities - reduction of production output (-24. % compared to 2008) and sales volumes (-23.7% against the Plan for 2009.) This was particularly pronounced in complex NPK fertilizers and carbon black, which forced some plants to a temporary shut down due to fall in market demand. Next to the company's own current assets, generated from the profit carried over from previous years and short-term bank loans, Petrokemija have provided for a part of their current assets by issuing commercial bills at the Zagreb Stock Exchange, through Privredna Banka Zagreb as their agent and program dealer. In the course of the reported period Petrokemija had successfully serviced all due tranches. At the time of drafting this report, the continuation of this program's realization is underway. The future movements of Petrokemija, d.d. financial results will be affected by numerous factors. The management Board of the Company claims that internally a significant shift was made by 0,5% reduction of workforce and 3% reduction in salaries. Except for the gas price, defined in the domestic market, the majority of future risks comes from the international scene, mainly through:. Change in price of basic raw materials in world market, 2. Change in sales price of fertilizer and carbon black 3. Price fluctuation of energy fluids - gas and heating oil, 4. Exchange rate of USD and EUR to HRK. As a result of the global crisis, payment deadlines for receivables were extended in domestic market. Furthermore, there is certain concern with regard to the new contract on gas supply that the gas supplier in Croatia insists on. In the situation of a falling GDP on domestic market and with a problem of collection of receivables which will be a major challenge in 200 business, Petrokemija's objective is to achieve at least a minimum profit, which will mainly depend on the purchasing price of gas. The maximum rise of gas price that Petrokemija can take in terms of business result for 200, is about 5%. Any price increase larger than that would pose a threat to business continuity of the Company. Furthermore, it will also be absolutely necessary to rationalize the business to the highest possible extent and ensure minimum solvency, which the management board is making continuous efforts to do.