QUARTERLY REPORT INTERIM CONDENSED CONSOLIDATED REPORT OF Unima 2000 CAPITAL GROUP for the period from 1 January to 30 September 2018 including a

Transcription

1 QUARTERLY REPORT INTERIM CONDENSED CONSOLIDATED REPORT OF Unima 2000 CAPITAL GROUP for the period from 1 January to 30 September 2018 including a condensed interim separate statement of Unima 2000 Systemy Teleinformatyczne S.A.

2 for the period from 1 January to 30 September 2018 including a condensed separate statement of Unima 2000 Systemy Teleinformatyczne S.A. prepared in Table of contents I. CONSOLIDATED FINANCIAL DATA OF UNIMA 2000 GROUP Selected financial data Interim consolidated statement of comprehensive income Interim consolidated statement of financial situation Interim consolidated statement of changes in equity Interim consolidated cash flow statement II. INTERIM SEPARATE FINANCIAL DATA OF UNIMA 2000 S.A Selected financial data Interim separate statement of comprehensive income Interim consolidated statement of financial situation Interim separate statement of changes in equity Interim separate cash flow statement III. ADDITIONAL INFORMATION TO THE INTERIM CONSOLIDATED STATEMENT OF THE UNIMA 2000 GROUP General information Information on the parent entity and the capital group Composition of the capital group Entities covered by consolidation Graphic scheme of the Unima 2000 Capital Group Basic data concerning the preparation of the financial statement and compliance declaration Accounting principles Changes in applicable accounting principles Consolidation principles Changes in estimates Influence of the first application of new standards Transformation and corrections of the first application of IFRS/IAS by the parent entity Influence of the first application of new standards by the parent entity Activ ity of the parent entity and Unima Capital Group 4. Significant achievements and failures of the parent entity and the Unima 2000 Capital Factors and events, especially of untypical character, which have a significant influence on the achieved financial results The Management Board s position concerning a possibility of realization of the previously published forecasts Seasonality of activity Information on inventories and revaluation write-offs on inventories to the net value and the reversal of such write-offs Specification of inventories Revaluation write-offs Revenues from contracts with customers Interim consolidated financial statement acc. to operating segments Impairment losses on financial assets, tangible fixed assets, intangible assets and other assets as well as the reversal of such losses Data of the parent entity Unima 2000 Systemy Teleinformatyczne S.A Data of the Unima 2000 Capital Group Income tax Unima 2000 Systemy Teleinformatyczne S.A. 2

3 for the period from 1 January to 30 September 2018 including a condensed separate statement of Unima 2000 Systemy Teleinformatyczne S.A. prepared in Current tax Deferred income tax provisions and assets Tangible fixed assets Significant transactions of purchase and sales of tangible fixed assets Significant liabilities due to purchase of tangible fixed assets Creation, increase, utilization and release of provisions Separate data of the parent entity Unima 2000 Systemy Teleinformatyczne S.A Consolidated data of Unima 2000 Group Significant court settlements Corrections of mistakes from previous periods Credits and loans New credits and loans Information on the lack of payment of a credit or a loan or a breach of significant provisions of a credit or a loan with regard to which no corrective measures were undertaken until the end of the reporting period Contingent liabilities and assets Transactions with affiliates Transactions of affiliates Information on untypical significant transactions with affiliates on the terms other than the market terms Dividends paid and declared for payment Information on the issue, buy-out and repayment of non-equity and capital securities Financial instruments Financial assets consolidated data Financial assets data of the parent entity Financial liabilities consolidated data Financial assets data of the parent entity Cash flow hedging Changes in economic situation and conditions of conducting business which have a significant influence on the value of financial assets and liabilities of the parent entity and the Capital Group, irrespective of whether such assets and liabilities have been recognized at fair value or at adjusted purchase price Changes in the method of determination of fair value of financial instruments Changes in the classification of financial assets resulting from the changes in purpose or use of such assets Euro exchange rates used to calculate the selected financial data Changes in the possession of shares by managing persons Changes in the possession of shares by supervising persons Changes in the ownership structure of significant blocks of shares (in units) Events after the end of the reporting period, which were not covered by the statement, but which could significantly influence the future results of the parent entity and the capital group Other information which could significantly influence the evaluation of the property and financial situation of the parent entity and the Capital Group as well as their financial results Factors which in the Issuer's opinion will have an impact on the achieved financial results in the perspective... of at least one quarter Approval of the statement s publication Unima 2000 Systemy Teleinformatyczne S.A. 3

4 for the period from 1 January to 30 September 2018 including a condensed separate statement of Unima 2000 Systemy Teleinformatyczne S.A. prepared in I. CONSOLIDATED FINANCIAL DATA OF UNIMA 2000 GROUP 1. Selected financial data in thousand PLN in thousand EUR I. Net revenue from sales of products, goods and materials II. Profit (loss) from operating activity III. Gross profit (loss) IV. Net profit (loss) V. Net cash flow from operating activity VI. Net cash flow from investment activity VII. Net cash flow from financial activity VIII. Total net cash flow IX. Total assets X. Liabilities and provisions for liabilities XI. Long-term liabilities XII. Short-term liabilities XIII. Equity attributed to the parent entity XIV. Share capital XV. Number of shares (in units) Unima 2000 Systemy Teleinformatyczne S.A. 4

5 for the period from 1 January to 30 September 2018 including a condensed separate statement of Unima 2000 Systemy Teleinformatyczne S.A. prepared in XVI. Weighted average number of shares (in units) XVII. Minority capitals 0,00 0,00 0,00 0,00 0,00 0,00 XVIII. Diluted profit (loss) per one ordinary share (in PLN/EUR) IX. Book value per one share (in PLN/EUR) XX. Diluted book value per one share (in PLN/EUR) XXI. Declared or paid dividend per one share (in PLN/EUR) 0,21-0,93 0,09 0,05-0,22 0,02 4,50 4,45 5,47 1,05 1,07 1,27 4,50 4,45 5,47 1,05 1,07 1,27 0,12 0,18 0,18 0,00 0,04 0,04 MAIN ACCOUNTANT. Jolanta Matczuk PRESIDENT OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD Krzysztof Kniszner Krzysztof Sikora Jolanta Matczuk Unima 2000 Systemy Teleinformatyczne S.A. 5

6 for the period from 1 January to 30 September 2018 including a condensed separate statement of Unima 2000 Systemy Teleinformatyczne S.A. prepared in 2. Interim consolidated statement of comprehensive income Interim consolidated statement of comprehensive income for the period of nine months ending on 30 September Note Continued activity Revenues from sales 9, Revenues from sales of products Net revenue from sales of products, goods and materials Own cost of sales Manufacturing cost of sold products Value of sold goods and materials Gross profit (loss) from sales Costs of sales Cost of general management Other operating income Other operating costs Profit (loss) from operating activity Financial income Financial costs Profit from sales of shares Share in profit of associates Profit (loss) before taxation Income tax current part Unima 2000 Systemy Teleinformatyczne S.A. 6

7 for the period from 1 January to 30 September 2018 including a condensed separate statement of Unima 2000 Systemy Teleinformatyczne S.A. prepared in deferred part Net profit (loss) from continued activity Discontinued operations Profit/loss from discontinued operations Net profit (loss) Other net comprehensive income Valuation of fixed assets above purchase price Transferred to the valuation of fixed assets above purchase price -94 Total net other comprehensive income Total net comprehensive income for the period Net profit attributed to - shareholders of the parent entity non-controlling assets 0 Comprehensive income attributed to : shareholders of the parent entity non-controlling assets Profit (loss) per one share from continued activity Diluted profit (loss) per one share from continued activity 0,45 0,21 0,26 0,09 0,45 0,21 0,26 0,09 Unima 2000 Systemy Teleinformatyczne S.A. 7

8 for the period from 1 January to 30 September 2018 including a condensed separate statement of Unima 2000 Systemy Teleinformatyczne S.A. prepared in MAIN ACCOUNTANT Jolanta Matczuk PRESIDENT OF THE MANAGEMENT BOARD Member of the Management Board Member of the Management Board Krzysztof Kniszner Krzysztof Sikora Jolanta Matczuk Unima 2000 Systemy Teleinformatyczne S.A. 8

9 for the period from 1 January to 30 September 2018 including a condensed separate statement of Unima 2000 Systemy Teleinformatyczne S.A. prepared in 3. Interim consolidated statement of financial situation Note ASSETS I. Fixed assets (long-term) Tangible fixed assets Investment properties 0 Shares in subsidiaries Other intangible assets Other financial assets Deferred tax Accruals and prepayments Deposits due to construction contracts II. Current assets (short-term) Inventories Trade receivables and other receivables Deposits due to construction contracts Current tax assets Valuation of long-term construction contracts Assets due to customer contracts Other financial assets 0 Accruals and prepayments Cash and cash equivalents Unima 2000 Systemy Teleinformatyczne S.A. 9

10 for the period from 1 January to 30 September 2018 including a condensed separate statement of Unima 2000 Systemy Teleinformatyczne S.A. prepared in Total assets *Transformation of data from connected with the change in the composition of the statement, described in note 2.4 MAIN ACCOUNTANT Jolanta Matczuk PRESIDENT OF THE MANAGEMENT BOARD Member of the Management Board Member of the Management Board Krzysztof Kniszner Krzysztof Sikora Jolanta Matczuk EQUITY AND LIABILITIES I. Equity of the parent entity Basic capital Own shares Surplus from sales of stocks above their value Other reserve capitals Revaluation capital Reserve capital for the purchase of own shares Retained profits II. Capital of minority shareholders 0 Total equity III. Long-term liabilities Long-term credits and loans 0 Other long-term financial liabilities Unima 2000 Systemy Teleinformatyczne S.A. 10

11 for the period from 1 January to 30 September 2018 including a condensed separate statement of Unima 2000 Systemy Teleinformatyczne S.A. prepared in Liabilities due to pension benefits Assets due to customer contracts 8 10 Deposits due to contracts 28 Deferred income 0 10 Other liabilities 0 Deferred income tax assets IV. Short-term liabilities Credits and loans Trade liabilities and other liabilities, Current income tax liabilities Deposits due to contracts 48 Assets due to customer contracts Other financial liabilities Short-term provisions for employee benefits 0 Provisions Deferred income Total liabilities Total equity and liabilities Transformation of data from connected with the change in the composition of the statement, described in note 2.4 MAIN ACCOUNTANT. Jolanta Matczuk PRESIDENT OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD Krzysztof Kniszner Krzysztof Sikora Jolanta Matczuk Unima 2000 Systemy Teleinformatyczne S.A. 11

12 including a condensed separate statement of 4. Interim consolidated statement of changes in equity Interim consolidated statement of changes in equity as at 30 September 2018 Basic capital Other reserve capitals Surplus from sales of stocks above their nominal value Reserve capital for purchase of own shares Capital from revaluation of financial instruments held for trading Tangible assets revaluation reserve capital Profits retained Total Minority share Total equity As at Profit for the period Other comprehensive income Comprehensive income for the period Issue of new shares 0 0 Own shares 0 0 Dividend payment by subsidiaries 0 0 Unima 2000 Systemy Teleinformatyczne S.A. 12

13 including a condensed separate statement of Unima 2000 Systemy Teleinformatyczne S.A. 13

14 including a condensed separate statement of Creation of capital for purchase of own shares Dividend payment Correction of capitals of noncontrolling shares Correction of reserve capitals from merger of shares As at MAIN ACCOUNTANT. Jolanta Matczuk PRESIDENT OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD Krzysztof Kniszner Krzysztof Sikora Jolanta Matczuk Unima 2000 Systemy Teleinformatyczne S.A. 14

15 including a condensed separate statement of Interim{1} consolidated statement of{1} changes in equity as at 30 September 2017 Basic capital Other reserve capitals Surplus from sales of stocks above their nominal value Reserve capital for purchase of own shares Capital from revaluation of financial instruments held for trading Tangible assets revaluation reserve capital Retaine d profits Total Minority shares Total equity As at Profit for the period Other comprehensie income Comprehensive income for the period Issue of new shares Bonus payment in subsidiaries Bonus payment 0 0 Own shares 0 0 Dividend payment by subsidiaries 0 0 Unima 2000 Systemy Teleinformatyczne S.A. 15

16 including a condensed separate statement of Creation of capital for purchase of own shares Dividend payment Correction of capitals of noncontrolling shares Correction of reserve capitals from merger of shares As at MAIN ACCOUNTANT PRESIDENT OF THE MANAGEMENT BOARD Member of the Member of the Management Board Management Board. Jolanta Matczuk Krzysztof Kniszner Krzysztof Sikora Jolanta Matczuk Unima 2000 Systemy Teleinformatyczne S.A. 16

17 5. Interim consolidated cash flow statement Interim consolidated cash flow statement for the period from 1 January 2018 to 30 September Operating activity Gross profit (loss) Reconciliation of gross profit with net cash flow Amortization (Profits) losses due to exchange rates Interest and shares in profit (dividends) Profit (loss) from operating activity 10 Write-offs on negative goodwill 274 Write-offs on impairment of tangible fixed assets Other corrections Changes in provisions Changes in inventories Changes in receivables Changes in short-term liabilities (excluding loans and credits) Changes in accruals and prepayments Paid income tax Operating net cash Investment activity Disposal of fixed assets 28 Disposal of investments in properties and intangible assets From financial assets Unima 2000 Systemy Teleinformatyczne S.A. 16

18 Other investment income 205 Disposal of fixed assets Disposal of investments in properties and intangible assets -5-6 Other investment expenses -205 Acquisition of subsidiaries Net cash from investment activity Financial activity Net income from issue of shares Credits and loans Issue of debt securities Purchase of own shares (stocks) Dividends and other distributions to shareholders 0 Profit sharing for managing and supervising persons Repayment of credits and loans Issue of debt securities Payment of liabilities due to financial leasing agreements Paid interest Net cash from financial activity Total net cash flow for the period Increases/decreases of net cash balance Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period MAIN ACCOUNTANT. Jolanta Matczuk PRESIDENT OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD Krzysztof Kniszner Krzysztof Sikora Jolanta Matczuk Unima 2000 Systemy Teleinformatyczne S.A. 17

19 II. INTERIM SEPARATE FINANCIAL DATA OF UNIMA 2000 S.A. 1. Selected financial data SELECTED FINANCIAL DATA in thousand PLN in thousand PLN III quarter 2018 III quarter 2017 as at III quarter 2018 III quarter 2017 as at I. Net revenue from sales of products, goods and materials II. Profit (loss) from operating activity III. Gross profit (loss) IV. Net profit (loss) V. Net cash flow from operating activity VI. Net cash flow from investment activity VII. Net cash flow from financial activity VIII. Total net cash flow IX. Total assets X. Liabilities and provisions for liabilities XI. Long-term liabilities XII. Short-term liabilities Unima 2000 Systemy Teleinformatyczne S.A. 18

20 XIII. Total equity XIV. Basic capital XV. Number of shares (in units) XVI. Profit (loss) per one ordinary share (in PLN/EUR) 0,07 0,04-1,02 0,02 0,01-0,24 Diluted profit (loss) per one ordinary share (in PLN/EUR) XVII. Book value per one share (in PLN/EUR) 4,85 5,98 4,92 1,14 1,39 1,18 Diluted book value per one share (in PLN/EUR) Declared or paid dividend per one share (in PLN/EUR) 0,12 0,18 0,18 0,03 0,04 0,04 MAIN ACCOUNTANT. Jolanta Matczuk PRESIDENT OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD Krzysztof Kniszner Krzysztof Sikora Jolanta Matczuk Unima 2000 Systemy Teleinformatyczne S.A. 19

21 2. Interim separate statement of comprehensive income Interim consolidated statement of comprehensive income for the period of nine months ending on 30 September Note Continued activity Revenues from sales Revenues from sales of products Net revenues from sales of products, goods and materials Own cost of sales Manufacturing cost of sold products Value of sold goods and materials Gross profit (loss) from sales Cost of sales Cost of general management Other operating income Other operating costs Profit (loss) from operating activity Financial income Financial costs Impairment of financial assets -1 3 Profit from sales of shares Share in profit of associates Profit (loss) before taxation Income tax Unima 2000 Systemy Teleinformatyczne S.A. 20

22 current part deferred part Net profit (loss) from continued activity Discontinued operations Profit/loss from discontinued operations Net profit (loss) Other net comprehensive income Valuation of fixed assets above purchase price Transferred to the valuation of fixed assets above purchase price 0-60 Total net other comprehensive income Total net comprehensive income for the period Net profit attributed to - non-controlling assets Comprehensive income attributed to : shareholders of the parent entity non-controlling assets Unima 2000 Systemy Teleinformatyczne S.A. 21

23 Weighted average number of shares (in units) Profit (loss) per one share from continued activity 0,28 0,07 0,13 0,04 Diluted profit (loss) per one share from continued activity 0,28 0,07 0,13 0,04 MAIN ACCOUNTANT. Jolanta Matczuk PRESIDENT OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD Krzysztof Kniszner Krzysztof Sikora Jolanta Matczuk Unima 2000 Systemy Teleinformatyczne S.A. 22

24 3. Interim separate statement of financial situation ASSETS I. Fixed assets (long-term) 1.Tangible fixed assets Investment property 3. Shares in subsidiaries Other intangible assets Other financial assets Deferred tax Accruals and prepayments Deposits due to construction contracts II. Current assets (short-term) 1.Inventories Trade receivables and other receivables Deposits due to construction contracts Current tax assets 0 5.Valuation of long-term construction contracts Assets due to customer contracts Other financial assets 0 8. Accruals and prepayments Cash and cash equivalents Total assets Unima 2000 Systemy Teleinformatyczne S.A. 23

25 *Transformation of data from connected with the change in the composition of the statement, described in note 2.5 MAIN ACCOUNTANT. Jolanta Matczuk PRESIDENT OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD Krzysztof Kniszner Krzysztof Sikora Jolanta Matczuk Unima 2000 Systemy Teleinformatyczne S.A. 24

26 EQUITY AND LIABILITIES I. Equity of the parent entity 1. Basic capital Own shares Surplus from sales of stocks above their value Other reserve capitals 5. Revaluation capital Reserve capital for purchase of own shares Retained profits II. Capital of minority shareholders 0 Total equity III. Long-term liabilities 1. Long-term credits and loans 0 2. Other long-term financial liabilities Retirement benefits liabilities Liabilities due to contracts with customers Deposits due to construction contracts Deferred revenue 7. Other liabilities 0 8. Deferred income tax provision IV. Short-term liabilities 2. Trade liabilities and other liabilities, Current income tax liabilities Unima 2000 Systemy Teleinformatyczne S.A. 25

27 4.Deposits due to construction contracts Liabilities due to contracts with customers Other financial liabilities Short-term provisions for employee benefits 0 8. Provisions Deferred revenue Total liabilities Total equity and liabilities *Transformation of data from connected with the change in the composition of the statement, described in note 2.5 MAIN ACCOUNTANT. Jolanta Matczuk PRESIDENT OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD Krzysztof Kniszner Krzysztof Sikora Jolanta Matczuk Unima 2000 Systemy Teleinformatyczne S.A. 26

28 including a condensed separate statement of 4. Interim consolidated statement of changes in equity Interim consolidated statement of changes in equity as at 30 September 2018 Basic capital Other reserve capitals Surplus from sales of stocks above their nominal value Reserve capitals for purchase of own shares Capital from revaluation of financial instruments held for trading Tangible assets revaluation reserve capital Retained profits Total Minority shares Total equity As at Profit for the period Other comprehensi ve income Comprehensive income for the period Issue of new shares Unima 2000 Systemy Teleinformatyczne S.A. 27

29 including a condensed separate statement of Own shares 0 0 Creation of capital for purchase of own shares Payment of dividend As at MAIN ACCOUNTANT. Jolanta Matczuk PRESIDENT OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD Krzysztof Kniszner Krzysztof Sikora Jolanta Matczuk Unima 2000 Systemy Teleinformatyczne S.A. 28

30 including a condensed separate statement of Unima 2000 Systemy Teleinformatyczne S.A. Interim consolidated statement of changes in equity as at 30 September 2017 Basic capital Other reserve capitals Surplus from sales of shares above their nominal value Reserve capitals for purchase of own shares Capital from revaluation of financial instruments held for trading Tangible assets revaluation reserve capital Profits retained Total Minority share Total equity As at Profit for the period Other comprehensive income Comprehensive income for the period Issue of new shares 0 0 Own shares 0 0 Creation of capital for purchase of own shares Dividend payment Unima 2000 Systemy Teleinformatyczne S.A. 29

31 including a condensed separate statement of Unima 2000 Systemy Teleinformatyczne S.A. As at MAIN ACCOUNTANT. Jolanta Matczuk PRESIDENT OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD Krzysztof Kniszner Krzysztof Sikora Jolanta Matczuk Unima 2000 Systemy Teleinformatyczne S.A. 30

32 5. Interim consolidated cash flow statement Interim consolidated cash flow statement for the period from 1 January 2018 to 30 September Operating activity Gross profit (loss) Reconciliation of gross profit with net cash flow Amortization Exchange rate (profits) losses 3. Interest and shares in profit (dividends) (Profit) loss from investment activity Impairment losses on goodwill 6. Impairment losses on tangible fixed assets 7. Other corrections Changes in provisions Changes in inventories Changes in receivables Changes in short-term liabilities (excluding loans and credits) Changes in accruals and prepayments Paid income tax Net cash flow from operating activity Unima 2000 Systemy Teleinformatyczne S.A. 31

33 Investment activity 1. Disposal of fixed assets Disposal of investments in properties and intangible assets 3. From financial assets 4. Other investment income Purchase of tangible fixed assets Investments in properties and intangible assets 4. Other investment expenses Acquisition of subsidiaries Net cash flow from investment activity Financial activity 1. Net income from issue of shares 2. Credits and loans Issue of debt securities 1. Purchase of own shares (stocks) 2. Dividends and other distributions to shareholders 3. Profit sharing for managing and supervising persons 4. Repayment of credits and loans Buy out of debt securities 6. Payment of liabilities due to financial leasing agreements Paid interest Net cash flow from financial activity Total net cash flow for the period Increases/decreases of net cash balance Unima 2000 Systemy Teleinformatyczne S.A. 32

34 Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period MAIN ACCOUNTANT. Jolanta Matczuk PRESIDENT OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD Krzysztof Kniszner Krzysztof Sikora Jolanta Matczuk Unima 2000 Systemy Teleinformatyczne S.A. 33

35 III. ADDITIONAL INFORMATION TO THE INTERIM CONSOLIDATED STATEMENT OF UNIMA 2000 GROUP 1. General information 1.1. Information on the parent entity and the capital group. The parent entity in the group is Unima 2000 Systemy Teleinformatyczne Spółka Akcyjna with its registered office in Krakow ul. Skarżyńskiego 14. The Company was registered on under KRS number bythe District Court for Krakow Śródmieście in Krakow, XI Commercial Register of the National Court Register. NIP REGON The shares of the company are listed on Warsaw Stock Exchange. According to WSE classification qualified to IT industry. CODE in CSDP : PLUNMST Unima 2000 Systemy Teleinformatyczne S.A. has conducted its activity since It is a legal successor of a limited liability company, which was transformed, on , into a joint-stock company. Unima 2000 Capital Group provides know-how, technologies and services for business. It integrates and implements advanced ICT systems, devises concepts and projects of advanced IT and telecommunication systems. It ensures consulting services, servicing and technical trainings of the customers' Unima 2000 Systemy Teleinformatyczne S.A. 34

36 staff. Through Lockus Sp. z o.o., it also organizes conferences and trainings for specialist from the industries of new technologies, building automation and multimedia. The Capital Group's offer is mostly aimed at the sector of medium-sized and big enterprises and institutions. Unima 2000 Capital Group executes sales mainly on the domestic market. The leading company, Unima 2000 Systemy Teleinformatyczne S.A., is an experienced supplier of innovative solutions for business, operating in the industry of advanced ICT solutions and safety systems. The Company offers the analysis of data and solutions for management and data protection, including personal data. Under the conducted activity, it designs and integrates teleinformation environments in enterprises as well as provides advisory services. The duration of activity of the parent entity and subsidiaries is indefinite. The activity of the parent entity and Unima 2000 Capital Group has been described in more detail in chapter 3. Composition of managing and supervising bodies of the parent entity as at : Composition of the Management Board: Krzysztof Kniszner President of the Management Board Jolanta Matczuk Member of the Management Board Krzysztof Sikora Member of the Management Board Unima 2000 Systemy Teleinformatyczne S.A. 35

37 Composition of the Supervisory Board: Zbigniew Pietroń Sławomir Jarosz Patrycja Buchowicz Magdalena Kniszner Piotr Zając President of the Supervisory Board Member of the Supervisory Board Member of the Supervisory Board Member of the Supervisory Board Member of the Supervisory Board The Audit Committee, with the composition of the following members: Patrycja Buchowicz, Magdalena Kniszner, Piotr Zając, functions under the Supervisory Board. No remuneration committee has been established in the company. As at the date of preparation of this consolidated financial statement, the composition of managing and supervising bodies of the parent entity remained unchanged Composition of the capital group No Entity Main office Type of affiliation Share in capital as at Share in total number of votes 1 IQnet Sp. z o. o Katowice subsidiary of Unima 2000 Systemy Teleinformatyczne S.A. 99,95% 99,95% 2 LOCKUS Sp. z o. o Kraków subsidiary of Unima 2000 Systemy Teleinformatyczne S.A. 99,99% 99,99% In the reported period, no mergers of the entities were conducted and no activity was discontinued. Unima 2000 Systemy Teleinformatyczne S.A. 36

38 1.3. Entities covered by consolidation During the period ending on 30 September 2018 all entities which constitute the capital group were subject to full consolidation Graphic scheme of the Unima 2000 Capital Group Unima 2000 Systemy Teleinformatyczne S.A. 37

39 1.5. {Basic data concerning the preparation of the financial statement and compliance declaration The basis for the preparation of this interim condensed consolidated financial statement for the period ending on 30 September 2018 is the Regulation of the Minister of Finance of 29 March 2018 on current and periodical information submitted by issuers of securities and conditions for approving as equivalent the information required by non-member states, Journal of Laws, item 757 of 20 April This interim separate condensed consolidated financial statement for the period ending on has been prepared in accordance with IAS 34 Interim financial reporting, approved by the European Union and in accordance with accounting standards applicable to interim financial reporting, adopted by the European Union, published and effective during the preparation of the Interim Consolidated Financial Statement. Interim consolidated financial statement does not include all information and disclosures required in the annual statement. It should be read in conjunction with the consolidated statement of the Unima 2000 Group for the statement for the reporting period ending on 31 December The interim condensed consolidated statement of the Unima 2000 Capital Group, prepared as at , includes the data of the parent entity, Unima 2000 Systemy Teleinformatyczne S.A., and the consolidated data. The separate statement of the parent entity and the separate statements of subsidiaries have been prepared in accordance with IFRS/IAS. The transformation and corrections concerning the parent entity are presented in note 2.5. The first consolidated statement prepared in accordance with IFRS/IAS was prepared for the first quarter of The necessary corrections resulting from the first use of IFRS/IAS are presented in it. Interim consolidated financial statement has been prepared in thousand PLN. Polish zloty constitutes both the presentation currency of the financial statement and the functional currency, in whichthe Groupmakes most of its economic transactions. The interim condensed financial statement has been prepared based on the assumption of the continued business activity by the Unima 2000Capital Groupin the foreseeable future. According to the Management Board of the parent entity, there are no circumstances indicating a threat to the continuity of the Capital Group s activity.the Group prepares its consolidated profit and loss statement in a functional version whereas a consolidated cash flow statement is made with the use of an indirect method. A basic reporting principle is the historical cost principle. Unima 2000 Systemy Teleinformatyczne S.A. 38

40 2. Accounting principles 2.1. Changes in applicable accounting principles The accounting principles applied for the preparation of the interim condensed consolidated financial statement for the period ending on 30 September 2018 do not differ from the ones used to prepare the annual consolidated financial statement of the Unima 2000 Group for the year ending on 31 December No standards and interpretations were applied in this consolidated financial statement before their effective dates. The Group applies all approved and published changes from the periods specified for particular changes and interpretations. Changes in IFRS/IAS and IFRIC interpretations applicable for the annual period starting on 1 January 2017 or later do not significantly influence the financial policy of the Group and the presented interim condensed financial statement for the period ending on 30 September The Group decided to implement IFRS 9 without the correction of comparative data, using the exemption specified in points IFRS 9. The corrections connected with the adjustment to IFRS 9 were introduced on 1 January Due to the fact that the values of corrections were considered insignificant, no changes in equities took place. The IFRS 15 standard was implemented retrospectively with the cumulative effect of the first application recognized in equity on the date of first application i.e. on 1 January 2018, in accordance with paragraphs C3 b) C7- C8 of the Standard. As a result of analyses, it was not determined that the application of a new approach resulted in the correction of equities as at the date of first application What s more, under the simplifications allowed by the Standard foreseen for the retrospective implementation with cumulative effect of the first application recognized in equity, it was decided that no retrospective transformation of contracts, which changed before 1 January 2018, i.e. before the date of first application of the Standard, shall take place. The implementation of the Standard influences the presentation of data concerning pre-paid servicing or pre-payments for participation in conferences and trainings. Up to this point, such payments were recognized in Deferred income, but according to IFRS 15 they shall be presented in "Liabilities due to contracts with customers" The assets connected with these contracts were transferred from Accrued expenses to Assets due to customer contracts. In connection with the first application of IFRS 9 Financial instruments and IFRS 15 Revenue from Contracts with Customers, an update of the Group s accounting policy, described in notes 3.4 and 3.19 of the statement for the year ending on 31 December 2017, took place. The changes to the above notes are presented below. Unima 2000 Systemy Teleinformatyczne S.A. 39

41 3.4 Revenues Recognition of revenues from sales Revenue from sales are recognized during the fulfilment of an obligation to provide a benefit and after fulfilling it to the amount of the transaction price. In order to determine a transaction price, the Group shall take into account the conditions of the agreement as well as the applied trade practices Fulfilling an obligation to provide a benefit is realized by transferring the promised goods (components of the assets) to the client who gains control over such components. Depending on the specified criteria, the revenues are subject to one-off recognition upon fulfilling an obligation to provide a benefit or divided in time in a way illustrating the realization of such an obligation. The costs incurred in order to conclude an agreement and the costs of this agreement s execution shall be capitalized and settled during the period of gaining benefits from such an agreement. The Group classifies its revenues in the following categories: IT and ICT services Building automation services Call/Contact Center services Other services Under IT services, the Group provides IP telephony, Call and Contact Center systems, calls and data registration and archiving systems, system of information circulation management, integration of sales support application, monitoring application and systems based on GPS as well as many other IT solutions according to clients expectations, and servicing The Group conducts mainly one-off disclosures of its revenues upon the fulfilment of an obligation. Some of the servicing is prepaid for n months, but no more than for 12 months. In such cases, revenues are divided in time and recognized in a linear way during the period of providing services by the Group. The fees remaining for settlement are presented in financial statements under Liabilities due to customer contracts ". Basic products with regard to building automation are: CCTV monitoring, building management systems, structural cabling, access control systems, fire signalling systems. Under building automation, the Group achieves revenues mainly through the realization of an obligation to provide services in time. The methods based on expenditure are used by the Group to determine the level of fulfilment of an obligation The effect of such measurements are included in the Assets under Valuation of contracts. Under Unima 2000 Systemy Teleinformatyczne S.A. 40

42 the Call/Contact Center segment, professional services with regard to the outsourcing of Call and Contact Center services, such as telemarketing, telesales, hotline and helpdesk, are provided. The revenues are recognized in the month of executing services. As other revenues, the Group recognizes mainly the services connected with the organization of trainings and conferences. The fees for participation in trainings and conferences are accrued in advance and such revenue is recognized before the date of the event. All costs connected with the organization of events are capitalized until their realization. The payments are recognized in Liabilities due to customer contracts and costs in Assets due to customer contracts Financial assets Classification and valuation of financial assets The financial assets in the Group s possession are classified to the following categories financial assets valued at amortized cost financial assets valued at fair value by financial result financial assets valued at fair value by other comprehensive income. The classification about the inclusion in a given category: is conducted upon an initial recognition The following factors decide a business model with regard to financial assets management contractual conditions of a given financial asset resulting from the agreement Financial assets valued at amortized cost A component of financial assets is included in Financial assets valued at amortized cost if the following conditions are met: if the asset is held in accordance with the business model whose aim is holding financial assets for obtaining cash flows resulting from the agreement, if the conditions of the agreement concerning an asset cause the creation of cash flows, in given periods, which are merely a repayment of the nominal amount and interest on the nominal amount remaining for repayment. The Group includes the following items in Financial assets valued at amortized cost": cash and cash equivalents, Unima 2000 Systemy Teleinformatyczne S.A. 41

43 trade receivables, other receivables, other financial assets Excluding trade receivables, financial assets are initially recognized at fair value increased by direct attributable transaction costs. Trade receivables which do not have a significant financing component according to IFRS 15, are valued at transaction price upon initial recognition (according to the definition specified in IFRS 15). Valuation at a later period takes place at amortized cost, with the use of the effective interest rate method, decreased by potential impairment losses. The interest is accrued with the use of the effective interest rate method and recognized in profit or loss of the current period Financial assets valued at fair value by other comprehensive income. A component of financial assets is included in Financial assets valued at fair value by other comprehensive income if both of the following conditions are met: if a component is held in accordance with the business model whose aim is both gaining cash flows resulting from the agreement and the sales of the components of financial assets, if the conditions of the agreement concerning an asset cause the creation of cash flows, in given periods, which are merely a repayment of the nominal amount and interest on the nominal amount remaining for repayment. Financial assets valued at fair value by comprehensive income are initially recognized at fair value increased by direct attributable transaction costs. In further period, they are also valued at fair value and the consequences of change of fair value are recognized in other comprehensive income and presented in equity as other capitals. The valuation is conducted with the use of fair value hierarchy /note 3.2/. The value as at the exclusion of an asset from the accounting books is transferred to the profit or loss of the current period. Unima 2000 Systemy Teleinformatyczne S.A. 42

44 Financial assets valued at fair value by financial result All other financial assets which do not meet the criteria of valuation at amortized cost or at fair value by other comprehensive income are valued at fair value by financial result. The profit or loss from the valuation of debt investments to fair value is recognized in the financial result and presented in Profits (losses) due to changes of the fair value of financial instruments Impairment of financial assets As at the balance sheet date, the Group conducts the estimation of expected credit losses irrespective of whether there were indications of impairment of financial assets.. If the credit risk connected with a given financial instrument has significantly increased from the moment of initial recognition, the Group shall value the impairment loss at expected credit losses due to a financial instrument, in the amount of the expected credit losses during its lifetime. If, as at the balance sheet date, the credit risk connected with a financial instrument has not significantly increased from the moment of initial recognition, the Group shall value the impairment loss at expected credit losses in the amount of 12-month expected credit losses. The Group values the expected credit losses due to financial instruments taking into account: a probable amount free of liabilities, which shall be determined after estimating a number of possible results, the cash value in time, rational and documentable information which are available without excessive costs or efforts as at the reporting date, concerning previous events, current conditions and forecasts regarding future economic conditions. The Group s trade receivables do not have a significant financing component, therefore the impairment loss of trade receivables is calculated on the basis of expected credit losses during the lifetime of a given financial instrument. For the purposes of estimation of expected losses, the Group uses the matrices of impairment losses. The impairment losses for trade receivables and deposits due to performed agreements are grouped acc. to the segments of activity, i.e.: IT segment building automation segment Call Center services segment other services segment Unima 2000 Systemy Teleinformatyczne S.A. 43

45 As at the end of each trading year, a ratio of obligation unfulfillment is determined for each of the groups by conducting the analysis of irrecoverability of receivables for the last 5 years. The ratio is determined for the following ranges: term receivables and receivables overdue up to 30 days receivables overdue from 30 to 60 days receivables overdue from 60 to 90 days receivables overdue more than 90 days. The amount of expected credit losses as at the balance sheet date is the product of receivables, as at the balance sheet date, from particular age groups and the ratio of a possibility of obligation unfulfillment. The value of impairment loss is recognized by the Group in the statement of comprehensive income, as profit or loss due to impairment of receivables under Impairment loss of financial instruments. The value of impairment loss for expected credit losses due to financial assets recognized in Financial assets valued at amortized cost" is recognized as the decrease of the gross book value of a component of financial assets in the statement of financial situation. The value of impairment loss for expected credit losses due to financial assets recognized in Financial assets valued at fair value by other comprehensive income is recognized in other comprehensive income and it does not decrease the book value of a component of financial assets Consolidation principles The consolidated financial statement of the CapitalGroup is prepared as at the balance sheet data and for the trading year specified for the separate statement of the parent entity. Subsidiaries are subject to the accounting principles consistent with the principle applied by the Group. While preparing the consolidated financial statement, the consolidation method, consisting of summing up particular positions of the statement, making exclusions and other corrections. All transactions, balances, revenues and costs between associates covered by consolidation are subject to full consolidation elimination. Non-controlling shares in net assets of consolidated subsidiaries are presented separately from the Group s equity. Non-controlling shares consists of the values of shares as at the date of merger of business entities and minority shares in the changes of equity starting from the date of merger. Non-controlling shares may be initially valuated either at fair value or in proportion to the share in fair value of the acquired net assets. The selection of one of the above methods is available for any merger of business entities. In further periods, the value of non-controlling shares includes the initially recognized value, Unima 2000 Systemy Teleinformatyczne S.A. 44

46 value corrected by changes in the entity s equity in proportion to the held shares. The total income is allocated to non-controlling shares even if it causes the creation of a negative value of such shares. Changes in the share in a subsidiary which do not cause the loss of control are recognized as capital transactions. The book values of the Group s share and non-controlling shares are properly modified in order to reflect the changes in the shares structure. The difference between the modified value of minority shares and the fair value of received or transferred payment is directly recognized in the Group s equity. In the case of losing control over a subsidiary, the profit or loss due to disposal is recognized as a difference between: a total fair value of the received payment, the fair value of the entity s shares remaining in the Group and the book value of assets (together with goodwill), liabilities and non-controlling shares. The amounts recognized in relation to the disposed entity in other components of comprehensive income are subject to the reclassification to the profit and loss statement. The fair value of shares in the entity remaining in the Group after disposal is recognized as the initial fair value for the purposes of its further recognition in accordance with IAS 39 or as the initial cost of shares in associates or joint ventures. Profits and losses resulting from the transactions between the Group and the associate are subject to consolidation exclusions to the level of the possessed share Changes in estimates In the period ending on 30 September 2018, there were no significant changes of estimates and methods used to conduct estimates. The implementation of IFRS 9 on expanded the catalogue of fields subject to estimates and fields which require significant judgments concerning the valuation of expected credit losses with regard to trade receivables. The Group uses historical data in order to estimate losses The description of methodology and the result are presented in note Influence of the first application of new standards IFRS 9 Financial Instruments Basic changes resulting from the implementation of IFRS 9 concern: changes in the classification of financial instruments and Unima 2000 Systemy Teleinformatyczne S.A. 45

47 the measurement of impairment of financial assets The Group has in its possession assets which, according to their management model, shall be classified as valued at amortized cost. As at the first application of IFRS 9, the Group was in the possession of the following financial assets valued at amortized cost : Trade receivables Deposits due to contracts Other receivables Cash Deposits IFRS introduces changes in the measurement of impairment from the concept of losses incurred to the concept of expected losses. In the Group s opinion, financial assets such as: other receivables, cash and deposits have low credit risk. Due to the fact that cash and deposits are held in institutions of high rating, the main amount of Other receivables is constituted by receivables from the Tax Office. The impairment losses are estimated in the amounts of the expected 12-month credit losses. The estimates showed the insignificance of amounts so no impairment loss was created. According to the assumptions of the standard, the impairment loss on trade receivables and deposit due to agreements is estimated based on the expected credit losses during the whole lifetime of a financial instrument. On the basis of historical data from the years , the matrices of impairment losses for particular groups of receivables and age groups were prepared /note 2.1(3.19.2)/. The historical obligation unfulfillment ratios were corrected by future events expectations. Calculating ratios for particular categories of receivables Receivables - building automation services Current 0-30 days days days more than 90 days Obligation unfulfillment ratio 0,053% 0,42% 0,54% 2,07% Unima 2000 Systemy Teleinformatyczne S.A. 46

48 Receivables - ICT and IT services Current 0-30 days days days more than 90 days Obligation unfulfillment ratio 0,01% 1,65% 4,13% 2,17% Receivables - call/contact center Current 0-30 days days days more than 90 days Obligation unfulfillment ratio 0,010% 0,00% 0,00% 22,17% Receivables - other services Current 0-30 days days days more than 90 days Obligation unfulfillment ratio 0,010% 117,47% 9,22% 97,11% The above ratios were used while calculating the expected credit losses as at the date of first application of the standard, i.e Receivables - building automation services Total Current 0-30 days days days more than 90 days Receivables as at Obligation unfulfillment ratio 0,053% 0,42% 0,54% 2,07% Expected credit losses 13,78 3 0, ,93 Receivables - ICT and IT services Total Current 0-30 days days days more than 90 days Receivables as at Obligation unfulfillment ratio 0,000 0,01% 1,65% 4,13% 2,17% Expected credit losses 2,92 0,34 1,44 0,83 0,33 Receivables - call/contact center Total Current 0-30 days days days Unima 2000 Systemy Teleinformatyczne S.A. 47

49 Receivables as at ,00 Unima 2000 Systemy Teleinformatyczne S.A. 48

50 Obligation unfulfillment ratio 0,010% 0,00% 0,00% 22,17% Expected credit losses 0,18 0,18 0,00 0,00 0,00 Receivables - other services Total Current 0-30 days days days more than 90 days Receivables as at , Obligation unfulfillment ratio 0,050% 117,47% 9,22% 97,11% Expected credit losses 0,97 0 0,00 0 0,97 Total value of expected credit losses 18 According to the obtained result, the impairment loss was to be corrected by -5 thousand PLN. The amount was considered insignificant and the impairment loss remained on the level specified in the statement as at i.e. 23 thousand PLN. With regard to the disputable receivables in the amount of 36 thousand PLN, the Group decided to maintain the impairment loss in 100% until the dispute is settled by Court. The total value of impairment loss on receivables after the introduction of the standard remains unchanged. No corrections were made. IFRS 15 Contracts with Customers The application of the standard does not influence the values specified in the statement. The only influence is the change in presentation of prepayments and advances from Deferred Revenue to Liabilities due to contracts ASSETS II. Current assets (short-term) 5. Valuation of long-term construction contracts Assets due to customer contracts Accruals and prepayments Unima 2000 Systemy Teleinformatyczne S.A. 49

51 EQUITY AND LIABILITIES Unima 2000 Systemy Teleinformatyczne S.A. 50

52 III. Long-term liabilities 4. Liabilities due to contracts with customers Deferred revenue 10 IV. Short-term liabilities 5. Liabilities due to contracts with customers Deferred revenue In both cases, the Group s Management Board decided to apply simplifications and exemptions enabling not transforming the comparative data. In the second quarter of 2018, the Management Board decided to change the pattern of the statement of financial situation which, in the Management Board s opinion, shall present particular items of assets as well as equity and liabilities in a clearer way. Therefore, the comparative data are also presented according to the new pattern / taking into account, as at , the changes in the presentation resulting from the first application of IFRS 9 I 15/ ASSETS I. Fixed assets (long-term) 1.Tangible fixed assets Investment property 3. Shares in subsidiaries Other intangible assets Other financial assets Deferred tax Accruals and prepayments Deposits due to construction contracts II. Current assets (short-term) 1.Inventories Unima 2000 Systemy Teleinformatyczne S.A. 51

53 2.Trade receivables and other receivables Deposits due to construction contracts Current tax assets Valuation of long-term construction contracts Assets due to customer contracts 70 7.Other financial assets 8. Accruals and prepayments Cash and cash equivalents Total assets EQUITY AND LIABILITIES I. Equity of the parent entity 1. Basic capital Own shares Surplus from sales of stocks above their value Other reserve capitals Revaluation capital Reserve capital purchase of own shares Retained profits II. Capital of minority shareholders Total equity III. Long-term liabilities 1. Long-term credits and loans 2. Other long-term financial liabilities Unima 2000 Systemy Teleinformatyczne S.A. 50

54 3. Liabilities due to retirement benefits Liabilities due to contracts with customers Deposits due to contracts 6. Deferred revenue Other liabilities 8. Deferred income tax provision IV. Short-term liabilities 1. Credits and loans Trade liabilities and other liabilities, Current income tax liabilities Deposits due to contracts 5. Liabilities due to contracts with customers Other financial liabilities Short-term provisions for employee benefits 8. Provisions Deferred revenue Total liabilities Total equity and liabilities Transformation and corrections of the first application of IFRS/IAS by the parent entity The statement for the period of six months ending on 30 June 2018 was the first statement prepared by the parent entity in accordance with the International Financial Reporting Standards (IFRS), International Accounting Standards (IAS) and the interpretations published by the International Financial Reporting Interpretations Unima 2000 Systemy Teleinformatyczne S.A. 51

55 Committee, which were approved by the European Union. The adopted accounting policy is consistent with the principles presented by the UNIMA2000 Capital Group in the statement for the year ending on 31 December 2017, taking into account the changes resulting from the first application of IFRS 9 and IFRS 15. The required disclosures and corrections concerning the transformation of statements which were up to that point prepared in accordance with the Accounting Act are presented below. Corrections due the first application of IFRS/IAS as at / a) (68) change in presentation of fixed assets disclosed according to PSR as Other financial assets b) (36) net value of fixed assets subject to valuation an increased value by fair value revaluation -154 amortization of revalued assets 36 net value of revalued assets c) (60) the amount of surcharge to Iqnet s shares, conducted after the period enabling an increase in the value of shares, was corrected and it was transferred to retained profits d) (513) change in presentation of the value of own shares disclosed according to PSR as Assets e) (202) surplus from sales of shares above their nominal value transferred to retained profits f) (154) fixed asset revaluation capital taking into account the value of deferred tax provision 190 value of fixed assets revaluation -36- deferred tax g) (36) value of deferred tax provision transferred to other comprehensive income The corrections in the statement of comprehensive income concern the amortization of fixed assets from the valuation recognized in the Management costs, and in the transformed statement as at in Other operating income additionally the value of amortization of sold fixed assets from revaluation (37) was recognized. The transformed cash flow statements were not presented duet to the fact that the conducted corrections do not influence these statements. The changes in the cash flow Unima 2000 Systemy Teleinformatyczne S.A. 52

56 statement concern the presentation of purchase of tangible fixed assets and intangible assets in separate positions of the statement and the presentation of gross profit (loss) in correspondence with the paid income tax. Statement of financial situation Differences ASSETS I. Fixed assets acc. to PAS acc. to IAS/IFRS 1.Tangible fixed assets a), b) Investment property 0 3.Goodwill of subsidiaries c) Other intangible assets Investments in associates 0 6. Deferred tax assets Other financial assets a) Other fixed assets-accruals and prepayments II. Current assets (short-term) 0 1.Inventories Trade receivables and other receivables Accruals and prepayments Current tax assets Other financial assets Cash and cash equivalents III. Called-up on basic capital Unima 2000 Systemy Teleinformatyczne S.A. 53

57 IV. Own shares d) 0 Total assets I. Equity 1. Basic capital Own shares -513 d) Surplus from sales of shares e) Other reserve capitals 0 5. Revaluation capital 154 f) Reserve capital purchase of own shares Retained profits c), e), f) II. Equity attributable to shareholders of the parent entity 0 0 Total equity III. Long-term liabilities 0 1. Long-term credits and loans 0 2. Other long-term financial liabilities Retirement benefits liabilities Deferred revenue 0 5.Other liabilities 0 4. Deferred tax provision g) IV. Short-term liabilities 0 Unima 2000 Systemy Teleinformatyczne S.A. 54

58 1. Short-term loans and bank credits Trade liabilities and other liabilities Other financial liabilities Short-term provisions for employee benefits Deferred revenue Current income tax liabilities 0 7. Short-term provisions Total liabilities Total equity and liabilities RECONCILIATION OF EQUITY Equity before corrections Surplus from sales of stocks above their nominal value 202 Correction of value of fixed assets together with deferred tax 154 Change in presentation of own shares -513 Corrections of retained profits: -416 Surplus from sales of stocks above their nominal value Correction of fixed assets amortization Correction of surcharge to shares -60 Total equity corrections -573 Equity after corrections Unima 2000 Systemy Teleinformatyczne S.A. 55

59 Statement of financial situation Differences acc. to PAS acc. to IAS/IFRS ASSETS I. Fixed assets 1.Tangible fixed assets Investment property 0 3.Goodwill of subsidiaries Other intangible assets Investments in associates 0 6. Deferred tax assets Other financial assets Other fixed assets-accruals and prepayments II. Current assets (short-term) 0 1.Inventories Trade receivables and other receivables Accruals and prepayments Current tax assets 0 5.Other financial assets Cash and cash equivalents III. Called-up on basic capital IV. Own shares Total assets Unima 2000 Systemy Teleinformatyczne S.A. 56

60 EQUITY AND LIABILITIES I. Equity 1. Basic capital Own shares Surplus from sales of shares Other reserve capitals 0 5. Revaluation capital Reserve capital purchase of own shares Retained profits II. Equity attributable to shareholders of the parent entity 0 0 Total equity III. Long-term liabilities 0 1. Long-term credits and loans 0 2. Other long-term financial liabilities Retirement benefits liabilities Deferred revenue 0 5.Other liabilities 0 4. Deferred tax provision IV. Short-term liabilities 0 1. Short-term loans and bank credits Trade liabilities and other liabilities Other financial liabilities Short-term provisions for employee benefits Deferred revenue Unima 2000 Systemy Teleinformatyczne S.A. 57

61 6. Current income tax liabilities Short-term provisions Total liabilities Total equity and liabilities Statement of comprehensive income acc. to PAS Differences acc. to IAS/IFRS Continued activity I. Revenue from sales Revenue from sales of products Revenue from sales of goods and materials II. Own cost of sales Manufacturing cost of sold products Value of sold goods and materials III. Gross profit (loss) on sales (I-II) IV. Other operating income Profit from disposal of non-financial fixed assets 0 2. Subsidies Other operating income V. Cost of sales VI. Cost of general management VII. Other operating costs Loss on disposal of non-financial fixed assets 0 2. Revaluation of non-financial assets Unima 2000 Systemy Teleinformatyczne S.A. 58

62 3. Other operating costs VIII. Operating profit (loss) (III+IV-V-VI-VII) IX. Financial income Dividends and shares in profits 0 2. Interest Profit on the disposal of investments Revaluation of investments 0 5. Other 0 X. Financial costs Interest Loss from the disposal of investments 0 3. Revaluation of investments Other XI. Gross profit (loss) (XII+/-XIII) XII. Income tax -1-1 a) current part b) deferred part XIII. Profit (loss) on continued activity Discontinued operations 0 XIV. Loss on discontinued operations 0 XV. Net profit (loss) Attributed to : 0 - shareholders of the parent entity minority capitals Unima 2000 Systemy Teleinformatyczne S.A. 59

63 RECONCILIATION OF EQUITY Equity after corrections Surplus from sales of stocks above their nominal value 202 Correction of value of fixed assets together with deferred tax 154 Change in presentation of own shares -513 Corrections of retained profits: -428 Surplus from sales of stocks above their nominal value Correction of fixed assets amortization Correction of surcharge to shares -60 Total equity corrections -585 Equity after corrections ASSETS Statement of financial situation Differen ces acc. to PAS acc. to IAS/IFRS I. Fixed assets 1.Tangible fixed assets Investment property 0 3.Goodwill of subsidiaries Other intangible assets Investments in associates 0 6. Deferred tax assets Other financial assets Other fixed assets-accruals and prepayments Unima 2000 Systemy Teleinformatyczne S.A. 60

64 II. Current assets (short-term) 0 1.Inventories Trade receivables and other receivables 3. Accruals and prepayments 4.Current tax assets 5.Other financial assets 6.Cash and cash equivalents III. Called-up on basic capital IV. Own shares Total assets I. Equity 1. Basic capital Own shares Surplus from sales of shares Other reserve capitals 0 5. Revaluation capital Reserve capital purchase of own shares Retained profits II. Equity attributable to shareholders of the parent entity 0 0 Total equity III. Long-term liabilities 0 Unima 2000 Systemy Teleinformatyczne S.A. 61

65 1. Long-term credits and loans 0 2. Other long-term financial liabilities Retirement benefits liabilities Deferred revenue 0 5.Other liabilities 0 4. Deferred tax provision IV. Short-term liabilities 0 1. Short-term loans and bank credits Trade liabilities and other liabilities Other financial liabilities Short-term provisions for employee benefits Deferred revenue Current income tax liabilities Short-term provisions Total liabilities Total equity and liabilities Statement of comprehensive income acc. to PAS Differences acc. to IAS/IFRS Continued activity I. Revenues from sales Unima 2000 Systemy Teleinformatyczne S.A. 62

66 1. Revenue from sales of products Revenue from sales of goods and materials II. Cost of sales Manufacturing cost of sold products 2. Value of sold goods and materials III. Gross profit (loss) on sales (I-II) IV. Other operating revenues V. Cost of sales VI. Cost of general management VII. Other operating costs VIII. Operating profit (loss) (III+IV-V-VI-VII) IX. Financial income X. Financial costs XI. Gross profit (loss) (XII+/-XIII) XII. Income tax a) current part b) deferred part XIII. Profit (loss) on continued activity Discontinued operations 0 XIV. Loss on discontinued operations 0 XV. Net profit (loss) Attributed to : 0 - shareholders of the parent entity minority capitals Unima 2000 Systemy Teleinformatyczne S.A. 63

67 RECONCILIATION OF EQUITY Equity before corrections Surplus from sales of stocks above their nominal value 202 Correction of value of fixed assets together with deferred tax 154 Change in presentation of own shares -513 Corrections of retained profits: -434 Surplus from sales of stocks above their nominal value Correction of fixed assets amortization Correction of surcharge to shares -60 Total equity corrections -591 Equity after corrections Influence of the first application of new standards by the parent entity IFRS 9 Financial Instruments Basic changes resulting from the implementation of IFRS 9 concern: changes in the classification of financial instruments and he measurement of impairment of financial assets Unima 2000 Systemy Teleinformatyczne S.A. has in its possession assets which, according to their management model, shall be classified as valued at amortized cost. As at the first application of IFRS 9, the Company was in the possession of the following financial assets valued at amortized cost: Trade receivables Unima 2000 Systemy Teleinformatyczne S.A. 64

68 Deposits due to contracts Other receivables Granted loans Cash Deposits The IFRS introduces changes in the measurement of impairment from the concept of losses incurred to the concept of expected losses. In the Company s opinion, financial assets such as: other receivables, cash and deposits have low credit risk. Due to the fact that cash and deposits are held in institutions of high rating, the main amount of Other receivables is constituted by receivables from the Tax Office. The impairment losses are estimated in the amounts of the expected 12-month credit losses. The estimates showed the insignificance of amounts so no impairment loss was created. In the Company s opinion, the granted loans also have low credit risk. The impairment losses are estimated in the amounts of the expected 12-month credit losses. The estimates showed the insignificance of amounts so no impairment loss was created.. According to the assumptions of the standard, the impairment loss on trade receivables and deposit due to agreements is estimated based on the expected credit losses during the whole lifetime of a financial instrument. On the basis of historical data from the years , the matrices of impairment losses for particular groups of receivables and age groups were prepared. The impairment losses for trade receivables and deposits due to performed agreements are grouped acc. to the segments of activity, i.e.: IT segment building automation segment other services segment. The historical obligation unfulfillment ratios were corrected by future events expectations. Calculating ratios for particular categories of receivables Receivables - building automation services Current 0-30 days day s day s more than 90 days Obligation unfulfillment ratio 0,053% 0,42% 0,54% 2,07% Unima 2000 Systemy Teleinformatyczne S.A. 65

69 Receivables - IT and ICT services Current 0-30 days day s day s more than 90 days Obligation unfulfillment ratio 0,01% 1,65% 4,13% 2,17% Receivables - other services Current 0-30 days day s day s more than 90 days Obligation unfulfillment ratio 0,140% 1,75% 2,22% 2,35% Valuation as at the date of standard adoption Receivables - building automation services Total Current 0-30 days day s day s more than 90 days Receivables as at Obligation unfulfillment ratio 0,053% 0,42% 0,54% 2,07% Expected credit losses 13,45 3 0, ,87 Receivables -IT and ICT services Total Current 0-30 days day s day s more than 90 days Receivables as at Obligation unfulfillment ratio 0,01% 1,65% 4,13% 2,17% Expected credit losses 2,92 0,34 1,44 0,83 0,33 Receivables - other services Total Current 0-30 days days days more than 90 days Receivables as at Obligation unfulfillment ratio 0,140% 1,75% 2,22% 2,35% Expected credit losses 0,37 0 0,11 0 0,00 Total value of expected credit losses 17 Unima 2000 Systemy Teleinformatyczne S.A. 66

70 According to the obtained result, the impairment loss was to be corrected by -2 thousand PLN. The amount was considered insignificant and the impairment loss remained on the level specified in the statement as at i.e. 19 thousand PLN. With regard to the disputable receivables in the amount of 36 thousand PLN, the Group decided to maintain the impairment loss in 100% until the dispute is settled by Court. The total value of impairment loss on receivables after the introduction of the standard remains unchanged and it amounted to 55 thousand PLN. No corrections were made. IFRS 15 Contracts with Customers The application of the standard does not influence the values specified in the statement. The only influence is the change in presentation of prepayments and advances from Deferred Revenue to Liabilities due to contracts ASSETS II. Current assets (short-term) 5. Valuation of long-term construction contracts Assets due to customer contracts Accruals and prepayments EQUITY AND LIABILITIES III. Long-term liabilities 4. Liabilities due to contracts with customers Deferred revenue 10 IV. Short-term liabilities 5. Liabilities due to contracts with customers Deferred revenue Unima 2000 Systemy Teleinformatyczne S.A. 67

71 In connection with the introduction of a new pattern of the statement of financial situation by the Capital Group s Management Board, the transformation taking into account the presentation changes resulting from the first application of IFRS 9 I 15 are presented below ASSETS I. Fixed assets (long-term) 1.Tangible fixed assets Investment property 3. Shares in subsidiaries Other intangible assets Other financial assets Deferred tax Accruals and prepayments Deposits due to construction contracts II. Current assets (short-term) 1.Inventories Trade receivables and other receivables Deposits due to construction contracts Current tax assets 5.Valuation of long-term construction contracts Assets due to customer contracts 70 7.Other financial assets 8. Accruals and prepayments Cash and cash equivalents Total assets Unima 2000 Systemy Teleinformatyczne S.A. 68

72 EQUITY AND LIABILITIES I. Equity of the parent entity 1. Basic capital Own shares Surplus from sales of stocks above their nominal value Other reserve capitals 5. Revaluation capital Reserve capital purchase of own shares Retained profits II. Capital of minority shareholders Total equity III. Long-term liabilities 1. Long-term credits and loans 2. Other long-term financial liabilities Retirement benefits liabilities Liabilities due to contracts with customers 10 5.Deposits due to construction contracts Deferred revenue 7. Other liabilities 8. Deferred income tax provision IV. Short-term liabilities Unima 2000 Systemy Teleinformatyczne S.A. 69

73 2. Trade liabilities and other liabilities, Current income tax liabilities Deposits due to construction contracts Liabilities due to contracts with customers Other financial liabilities Short-term provisions for employee benefits 8. Provisions Deferred revenue Total liabilities Total equity and liabilities Activity of the parent entity and Unima 2000 Capital Group Unima 2000 Capital Group offers complex solutions for business. The Capital Group s offer is mainly targeted at the sector of medium-sized and big enterprises and institutions. Unima 2000 Capital Group executes sales mainly on the domestic market. Unima2000 Systemy Teleinformatyczne S.A. is one of the longest-running companies in the market of communication and IT systems in Poland. For 25 years, it has designed, implemented and integrated highly advanced systems for business and it provides consulting and auditing services. The parent entity provides the services of post-sales advisory and it is the organizer of trainings and seminars. The parent entity concentrates its activities in two fields: ICT (Information and Communication Technologies) systems Low-voltage systems ICT systems Unima 2000 Systemy Teleinformatyczne S.A. 70

74 Unima 2000 Systemy Teleinformatyczne S.A. is an experienced supplier of innovative solutions for business, operating in the industry of advanced ICT solutions. The ICT offer can be divided in two groups: Communication systems (IC) The parent entity offers solutions for enterprises for which effective communication with customers and reliable internal communication constitute a basis of the conducted activity. Unima 2000 Systemy Teleinformatyczne S.A. implements and integrates ICT systems Contact Center and Call Center, Unified Messaging (UM), Unified Communications as well as group work systems (Web Collaboration). The implemented Contact Center systems are used for managing huge amounts of interactions with customers and their functionality goes far beyond the basic possibilities granted by PDS (Predictive Dialing System) and IVR (ang. Interactive Voice Response). The parent entity also helps to build small specialist Call Center units managing outbound traffic and advanced Contact Center units managing outbound and inbound traffic as well as integrating many communication channels and various locations. Communication systems are often supported by additional analytical, safety and reporting systems. Thanks to complex process optimization, group work, voice biometrics, storage and analysis of records (Speech Analysis) and other systems, it is possible to optimize the processes inside a call center and to quickly obtain complex information on the market and the customers. The Company implements the Omnichannel communication systems. They do not only deal with voice conversations but also enable additional integration of communication channels, irrespective of the way of contact which a particular customer prefers. Contact Center employees can smoothly deal with the communication with the customer, realized through the following channels: voice calls, s, SMS, chat video, social media or mobile devices. Contrary to the Multichannel systems used before, managing relations with the customers is realized from one position and Contact Center employees can see full contact history, regardless of the used channels. Unima 2000 Systemy Teleinformatyczne S.A. implements communication systems both in the on-premises model (system installed on the servers specified by the investor) and in the SaaS model (System As A Service), i.e. shared in the cloud as a service. Constant changes of the customers preferences concerning the used communication channels make the parent entity continuously modify its offer, make predictions and get ahead of the current trends. Unima 2000 Systemy Teleinformatyczne S.A. 71

75 An example is the growth of interest and introduction of Chatbots, i.e. computer programs used for conducting conversations with the use of text-based interface or even natural language, into the Company s offer. The most frequent task of Chatbots in the service process is replacing human consultants communicating with customers. Chatbots ensure a new type of interaction with clients and their introduction contributes to the reduction of costs and the increase in customer service. Users accepted the use of Chatbots at this point, a significant amount of communicator users cannot clearly state whether the communication takes place with a human being or with a Chatbot. Some forecasts predict that until 2022, 85% of customers contacts with the enterprise will be handled without human participation on the part of the enterprise. The parent entity is prepared for such a challenge. Unima 2000 Systemy Teleinformatyczne S.A. is an experienced supplier of unified communication solutions - Unified Communications. UC are communication tools which integrate many ways of communication between the employees in an enterprise. Unified Communications is an integrated set of products, providing employees with a uniform user interface and a possibility of communication, regardless of the chosen device, place, time or communication channel. Similarly to Contact Center systems, UC enables integrating many dispersed communication channels (such as: voice calls, chat, social media, mobile, applications, video calls, etc.) into a uniform and coherent system. UC systems implemented by Unima 2000 Systemy Teleinformatyczne S.A. are operated by hundreds, or even thousands, of users working in one enterprise. An example of the implementation of the UC system is the implementation in the Nowy Styl Group. Under this implementation, a coherent communication system for 1600 subscribers (employees and the group of partners) acting in 16 countries, was created. The implementation enables conducting voice communication, compiling videoconference and group work in an international environment while maintaining a high level of IT safety. Unima 2000 Systemy Teleinformatyczne S.A. executes sales mainly on the domestic market. The parent entity (as one of only two companies in Poland) has the authorization and the highest level of partnership with Avaya (Diamond Avaya Partner). The Company is also a sole representative of Vocalcom in Poland. It remains a complex supplier and integrator of most of the leading global technologies for Call and Contact Center, such as: Verint, Sytel, Nuance. Diamond Avaya Partner is the highest status granted under the partnership program of Avaya Edge. Only two companies in Poland have such a high level of partnership.. Unima 2000 Systemy Teleinformatyczne S.A. 72

76 By acquiring the status of the Diamond Partner, Unima 2000 Systemy Teleinformatyczne S.A. gained access to the richest support packet, the most advanced tools and the most beneficial rules of cooperation with Avaya. It directly translates to the benefits which the company can offer to its customers. A sole representative of the leading producer of Contact Centre solutions in Poland. Unima 2000 Systemy Teleinformatyczne S.A. ensures complete support for the customers with regard to the implementation of SLA. It is a leading and reliable business partner providing communication solutions for the leaders of the following industries: banking, logistics, energetics, and industry. IT systems Unima 2000 Systemy Teleinformatyczne S.A. provides IT solutions aiming at the analysis of big amounts of information, data safety (including personal data) and the management of processes. The parent entity implements dedicated business applications. Similarly to the segment of communication services, the parent entity conducts advisory activities, audits, trainings and helps in adjusting enterprises to the changing legal environment. The parent entity offers Big Data solutions enabling the gathering and processing of the large sets of data. The offered tools enable, for instance, the analysis of the behaviour and preferences of the customers as well as the prediction of events, including breakdowns (Predictive Maintenance) and the prediction of financial events. The Company s offer is based on the IBM solutions such as: IBM Integrated Analytics System, IBM Cognos Analytics and IBM SPSS. Unima 2000 Systemy Teleinformatyczne S.A. offers a range of products supporting the protection of personal data: IBM StoredIQ, IBM Security Guardium, IBM Optim and the solutions aiming at ensuring IT safety, such as: IBM QRadar Security Intelligence Platform. The Company offers a complex solution for the analysis of calls in Contact Center, based on IBM Watson Explorer platform and a tool for the transcription of recordings, Phonexia. The solution includes the mechanisms of speech-to-text conversion, which makes it possible to convert the sound Unima 2000 Systemy Teleinformatyczne S.A. 73

77 recorded during the calls with customers to text and the tools to extract data by automatically importing contents from various sources, including messages, logs from chats and information from social media. IBM Watson Explorer ensures a uniform platform for the analysis of data from different contact channels. By using comprehensive analysis of content and a possibility of processing natural language, it can reveal new patterns and trends of customers behaviour, which had remained unnoticed before. Such a solution is significantly better than the top solutions of the Speech Analytics class, it ensures unique architectural advantages and provides unique advanced possibilities, such as content analytics, 360-degree information applications and many more. Unima 2000 Systemy Teleinformatyczne S.A. offers a number of business applications, including a platform for managing business processes Axxerion. Axxerion, offered in the SaaS model, enables the supervision and improvement of repetitive processes in enterprises, such as: supervision of orders, servicing, settlement of tenants, management of bookings, etc. Axxerion is used as crucial software for complex management of properties and big commercial buildings. Unima 2000 Systemy Teleinformatyczne S.A. provides data reporting and visualization systems. The Company offers systems enabling the analysis and presentation of the data obtained from, for instance, loyalty programs, sales systems, Contact Center systems and advanced systems supporting the analyses of big amounts of data obtained from external Big Data sources. Unima 2000 Systemy Teleinformatyczne S.A. is a certified partner of IBM with regard to the data analysis systems and personal data protection systems. The parent entity has IBM Silver Partner status. Unima 2000 Systemy Teleinformatyczne S.A. is also an exclusive representative of Axxerion in Poland. Low-voltage systems Unima 2000 Systemy Teleinformatyczne S.A. integrates and implements low-voltage systems: safety systems (access control systems, fire safety systems, intrusion detection systems, CCTV video monitoring, voice alarm systems, broadcasting systems, etc.), building management systems as well as prepares the infrastructure necessary for data, voice and image transmission. The parent entity designs and makes structural cabling of premises, together with the construction of cabling routes, meeting the highest norms of fire safety. Under the conducted activity, Unima 2000 Systemy Teleinformatyczne S.A. prepares, equips and launches server rooms and Data Center. The parent entity provides advisory services, it conducts audits and trainings. The Company's offer Unima 2000 Systemy Teleinformatyczne S.A. 74

78 with regard to the implementation and integration of low-voltage systems is supplemented with the wireless connectivity systems, video-conference systems and data visualization systems. Most of the income in the field of integration of low-voltage systems is realized through the indirect sales to general construction investments contractors and a lesser part of sales is aimed. at end users. With regard to the systems of networks and safety systems as well as automation systems, Unima 2000 Systemy Teleinformatyczne S.A is, among others, a partner of the following companies: Aruba Networks, Axis Communications, BKT Elektronik, Bosch, Cisco, C&C Solution Partner (TKH Group), Delta Controls, Fortinet, Hewlett Packard Enterprise, Honeywell, Molex Connected Enterprise Solutions, Polon-Alfa (AAT Holding), Reichle & De- Massari, Schrack Seconet, Schrack Technik, Schneider Electric and Siemens. The parent entity's mission and basic assumptions of the business model The mission of Unima2000 Systemy Teleinformatyczne S.A. is the delivery of highest quality solutions supporting business activities: IT solutions, communication systems and low-voltage systems. The Company s offer is mainly targeted at medium-sized and big business entities. By showing new possibilities and eliminating technological barriers, we help our customers discover the unused business opportunities. Thanks to quick reactions to the changing environment, we indicate the directions of development and satisfy the expectations of our customers. The Company continues to expand its competences and use its rich experience to meet growing market requirements. Due to the cooperation with renowned producers of equipment and software, we have been applying cutting-edge technological standards since the very start of our activity. Other companies of the Capital Group The following companies are also included in Unima 2000 Capital Group: Lockus Sp. z o.o. and IQnet Sp. z o.o. Lockus Sp. z o.o. specializes in the support of realization of business strategies through the organization of events and the implementation of marketing projects. It is the organizer of conferences and trainings for the specialists from the fields of Unima 2000 Systemy Teleinformatyczne S.A. 75

79 new technologies, building automation and multimedia. It ensures services with regard to logistics, marketing and PR activities. The company is, for instance, the organizer of Meetings of Low-voltage Installations Designers SPIN. These regular meetings gather around 500 people (designers of low-voltage installations, experts, producers and distributors) every year. The fiast edition of SPIN took place in 2002 and since 2012 SPIN takes place two times a year in the autumn in the south of Poland and in the spring in the north of Poland. Lockus Sp. z o.o. is also an owner of Teleinvention - modern Call and Contact Center. It has the team of 244 consultants, thanks to which it provides the services of the highest quality with regard to: telemarketing, telesales, operating hotlines and helpdesk, surveys and outsourcing of sales. It specializes in sales campaigns and in building of potential customers bases, conducting marketing studies and operating multichannel customer service offices for external entities. IQnet Sp. z o.o. specialized in the design and implementation of ICT systems, structural cabling system, integration of network services and low-voltage systems. The Company provides the services connected with complex supervision and execution of construction investments. IQNet Sp. z o.o. offers complex services: starting with the analysis of needs and consultations, through the design and delivery of the equipment and the implementation of the proposed solutions. The Company also provides servicing within the guarantee and post-guarantee periods. Under the conducted activity, IQNet Sp. z o.o. deals with the design, creation, installation and integration of: local and extensive ICT networks low-voltage solutions: CCTV, alarm systems, access control, recording working time, fire signalization, voice alarm systems, building management ICT systems, advanced telephone exchanges, IP solutions as well as Call and Contact Center applications. 4. Significant achievements and failures of the parent entity and the Capital GROUP Unima 2000 Unima 2000 Systemy Teleinformatyczne S.A. 76

80 Unima 2000 Systemy Teleinformatyczne S.A. met strict criteria and it achieved the highest level of partnership granted by Avaya - Avaya Edge Diamond. Only two companies in Poland have such a high level of partnership. Diamond Avaya Partner is the highest status granted under the partnership program of Avaya Edge. Obtaining it constitutes a confirmation of Partner s leading level of skills and experience. Unima 2000 Systemy Teleinformatyczne S.A. showed competences in the design, integration and support of complex, innovative and simple in management Avaya solutions. The parent entity proved that it was able to implement complex projects and ensure a high satisfaction level among its customers, which is a crucial requirement of the Avaya Edge program. During the reporting period, Unima 2000 Systemy Teleinformatyczne S.A. continued the realization of the assumptions of adopted activity strategy, it realized projects commenced in the previous periods and it signed annexes increasing the scope and value of the following agreements: for the execution of telemechanical installations in the premises - Office Complex "03 Business Campus" Kraków ul. Opolska _Stage III_. The Parties of the Agreement are Unima 2000 Systemy Teleinformatyczne S.A. with its registered office in Kraków the Contractor and Echo-Opolska Business Park spółka z ograniczoną odpowiedzialnością - Spółka komandytowa with its registered office in Warsaw - the Ordering Party. Annex no 1 increased the subject of the agreement and the remuneration of the Contractor by PLN net, namely to PLN net. Other terms of the agreement did not change. (Cur. report 2/2018) for the execution of telemechanical installations in the premises Office Complex "West Link", ul. Szybowcowa 2 _hereinafter": the Agreement_. The Parties of the Agreement are Spółka jako Contractor and West Gate II Projekt Echo 114 Spółka z ograniczoną odpowiedzialnością Spółka komandytowa with its registered office in Kielce as the Ordering Party. According to the signed Annex, the amount of remuneration for the performance of the Agreement is ,95 PLN (Cur. rep. 15/2018). The realization of new projects was commenced. The biggest ones include: Execution of telemechanical installations at the construction site of AFI PARK in Krakow, ul. 29 listopada. The parties of the agreement are Unima 2000 Systemy Teleinformatyczne S.A. with its registered office in Krakow Subcontractor and Warbud SA with its registered office in Warsaw - the Ordering Party. The value of the agreement is ,70 PLN net. (Cur. Report 1/2018) Unima 2000 Systemy Teleinformatyczne S.A. 80

81 the execution of telemechanical installations under the investment "Construction of the hotel together with the accompanying infrastructure at the site placed in Wrocław, ul. Plac Katedralny 8-9, II stage". The Parties of the Agreement are Unima 2000 Systemy Teleinformatyczne S.A. with its registered office in Kraków the Contractor and Strabag Sp. z o.o. with its registered office in Pruszków the Ordering Party. The value of the agreement is PLN net. (Cur.report 4/2018) Execution of low-voltage installation for the block with the power of 910MW in Jaworzno Power Station III Power Plant II. The Parties of the Agreement are Elektrobudowa SA with its registered office in Katowice the Contractor and Unima 2000 Systemy Teleinformatyczne SA with its registered office in Kraków the Subcontractor. The value of the agreement is PLN net (Cur. Report 7/2018) Complex delivery and execution of teletechnical systems under the investment: Unity Centre in Krakow, for buildings AB, F, C, DE, GH - including KD and SSWiN systems, parking system, intercom system, summoning system, structural cabling, CCTV and cable routes. The Parties of the Agreement are Strabag Sp. z o.o. with its registered office in Pruszkow - the Ordering Party, and the Company as the Contractor. The value of the agreement is PLN net (Cur. report 22/2018, 22/2018/K). Unima 2000 Systemy Teleinformatyczne S.A., acting under consortium with EUVIC Sp. z o.o. (consortium leader) won an open tender for the preparation, implementation and provision of the service connected with sharing the IT system, used for handling the Gdańsk Contact Centre. The tender was realized by the Public Procurement Bureau of the City Council in Gdańsk (procedure no. BZP ). The solution offered by the consortium shall work in the SaaS model and it shall enable 24/7 handling with regard to providing information concerning the organization and functioning of the Council and the organizational entities of the City. The system shall also enable accepting intervention reports and opinions of people using the services provided by the City Council and the subordinate organizational entities in order to transfer the reports to proper divisions and entities. Thanks to the solution, a continuous monitoring of reports submitted to particular divisions and organizational entities of the city shall be possible. The solution's concept is based on the integration of the system connected with handling reports with the Contact Center Vocalcom Hermes.Net system. The implemented solutions shall enable handling various communication channels, such as: phone, chat, SMS, contact form (Gdańsk Contact Centre website, Order Map), and social media. Unima 2000 Systemy Teleinformatyczne S.A. has signed an agreement with Polska Grupa Farmaceutyczna SA for the provision of complex videoconference Avaya Equinox system together with additional equipment. Under the signed agreement, the Company shall deliver and lease 13 separate Unima 2000 Systemy Teleinformatyczne S.A. 80

82 videoconference terminals (3x Avaya Scopia XT5000 i 10x Avaya Scopia XT4300) functioning on mobile working positions together with the Avaya Equinox videoconference software. The provided software and equipment shall enable the organization of up to 20 independent videoconferences, taking place at the same time, in which, apart from the people using the above videoconference terminals, also people using laptops, tablets and smartphones (the system works also through the browser) can take part. IQnet Sp. z o.o. has signed an agreement for the complex execution, assembly and start-up of automation and BMS installations under the construction of the hotel building called "Polonia Tatry Hotel & Apartamenty" in Zakopane, ul. Bulwary Słowackiego 1 for the Contractor, Eiffage Polska Budownictow SA. with its registered office in Warsaw. The value of the agreement is PLN net (Cur. report 8/2018, 12/2018). IQnet sp. z o.o. has also continued its works under the agreement with F.R.B. Inter-Bud sp. z o.o. sp.k. with its registered office in Krakow, for the execution of telemechanical and low-voltage installations of the hotel building Błonia Park in Krakow, ul. 3 Maja. The value of the agreement is ,92 PLN net. (Cur. Report 34/2017, 36/2017) In March 2018, Lockus Sp. z o.o. organized the northern edition of Meetings of Low-voltage Installations Designers - SPIN Extra speakers gave their lectures and 25 companies presented their solutions on exhibition stands. SPIN Extra 2018 had many expert panels. The subject matter of the Partners' presentations involved a wide scope of specializations, starting from electronic access control systems, Data Center solutions through uninterruptible power supply systems, storage, DSO, and ending on professional network and CCTV solutions. The event's partners were, among others, AAT Holding, CORNING, WD, ABB, BOSCH, DATWYLER, Jonhson Control, TP- LINK. The next SPIN will take place in the autumn of Factors and events especially of untypical character, which have a significant influence on the achieved financial results Unima 2000 Systemy Teleinformatyczne S.A. 80

83 During the period ending on 30 September 2018, no untypical factors and events which have an influence on financial results took place. 6. The Management Board s position concerning a possibility of realization of the previously published forecasts Unima 2000 Systemy Teleinformatyczne S.A. does not publish forecasts. 7. Seasonality of activities The type of Capital Group's activity does not belong to seasonal activity but the amount of income is subject to seasonal fluctuations 8. Information on inventories and write-offs on inventories to the reversable net value and the reversal of such write-offs 8.1. Specification of inventories materials semi-finished products and products in progress 8 30 ready products goods advances on deliveries Total inventories Revaluation write-offs During the reporting period ending on 30 September 2018 the Unima 2000 Group created additional writeoffs on inventories in the amount of 38 thousand PLN and it released the write-offs in the amount of 77 thousand PLN. The value of write-offs on inventories as at amounted to 301 thousand PLN. Unima 2000 Systemy Teleinformatyczne S.A. 80

84 9. Revenues from contracts with customers Revenues recognized in the statement liabilities for the provision of services assets due to provision of services Valuation of contracts The liabilities for the provision of IT services and Other services amount to 328 thousand PLN and they shall be recognized in the revenues for the period of 12 months from the balance sheet date. The liabilities for the provision of Building Automation services shall be realized successively during the progress of the performance of agreements. 10. Interim consolidated statement acc. to operating segments The basic divisive factor of operating segments in Unima 2000 Capital Group is the division into the types of activity generating income, taking into account quantitative thresholds. The criteria of distinguishing particular segments are based on the differences between products and services. The basic profile of the Capital Group's activity is the implementation of IT projects. A more detailed division of this segment has been conducted, The servicing segment, as strictly connected with the implementation of IT projects, was included in the segment Telecommunication and Information Technology. The sales of materials was included in particular main segments. The sales of materials not directly connected with main segments was included in the segment Other. The following segments were distinguished: "Telecommunication and information technology" /IT/segment "Building automation" segment "Call/Contact Center segment Unima 2000 Systemy Teleinformatyczne S.A. 81

85 "Other" segment In this statement, Unima 2000 Capital Group presents revenues from sales, costs and gross margin divided into the above operating segments. The division is consistent with internal reporting, provided to the main decisionmaker. Under the "Telecommunication and Information Technology" segment, the Group provides, for instance: IP telephony, Call and Contact Center systems, systems of conversation and data registration and storage, systems of information flow management, integration of applications supporting sales, GPS-based applications and monitoring systems as well as many other IT solutions consistent with the customers' expectations. What is more, under this segment professional consulting and post-sales services, advanced maintenance services, trainings for system users and administrators as well as audits and complex implementations are provided. Basic products in the field of building automation are: video monitoring CCTV, building management systems, structural cabling, access control systems, fire signalling systems. In addition, under the Call/Contact Center segment, professional services with regard to outsourcing of Call and Contact Center services are provided: telemarketing, telesales, hotline, helpdesk. The source of income for all other segments are services provided by the Group under the scope of activity of particular companies but not concerning core sources of income, e.g. advertising services, keeping accounting books, design services, organizing conferences and trainings. In this statement, Unima 2000 Capital Group presentes revenues from sales, costs and gross margin divided into the above operating segments. The Group does not present balance sheet assets and liabilities in division to the segments due to the fact that some fixed assets are used in various segments. What is more, there is no possibility of attributing the inventories of materials to particular segments and it is impossible to attribute them to the segments of trade liabilities. In Unima 2000 Capital Group, the information concerning geographical areas are based on the criterion of the customers location. The Group has distinguished the following geographical locations: Domestic including sales within the country; Export sales beyond the European Union Union sales to the European Union countries The Group maintains its assets within the country. Therefore, the value of fixed assets other than financial instruments and deferred tax assets recognized in the consolidated balance sheet are included under "Domestic" location. Unima 2000 Systemy Teleinformatyczne S.A. 82

86 The valuation of the presented amounts attributed to particular segments does not differ from the valuation adopted for the purposes of the preparation of the financial statement. There are no differences between the valuation for the purposes of data presentation of particular segments and the valuation for the purposes of the preparation of the financial statement as a whole. The Group s customers are mainly representatives of the industry, building and financial sectors, among which the main fields are constituted by banking and insurance. The Group's income does not continuously depend on one or several permanent customers. Within the period ending on the income exceeding 10% of total income amounted to thousand PLN (7 279 thousand PLN in2017). Financial result of industry segments for the period of UNIMA2000 Group do IT projects building automation Call/Contact Center other Total Total income External sales Sales between segments 0 Total costs External costs Costs between segments Segment result Unattributed costs Profit (loss) from discontinued operations Operating profit 814 Write-off on goodwill Financial income 30 Financial costs 152 Profit/loss from sales of shares Unima 2000 Systemy Teleinformatyczne S.A. 83

87 Income from including investments a condensed in separate statement of Unima associates 2000 Systemy Teleinformatyczne S.A. prepared in thousand PLN Taking control over subsidiary Unima 2000 Systemy Teleinformatyczne S.A. 84

88 Profit before taxation 692 Income tax 126 Minority shares Net profit 566 Financial result of industry segments in UNIMA2000 Group segments for the period from to IT projects building automation Call/Contact Center other Total Total income External sales Sales between segments 0 Total costs External costs Costs between segments 0 Segment result Unattributed costs Profit (loss) from discontinued operations Operating profit 807 Write-off on goodwill Financial income 3 Financial costs 493 Profit/loss from sales of shares Income from investments in associates Taking control over subsidiary Unima 2000 Systemy Teleinformatyczne S.A. 85

89 Profit before including taxation a condensed separate statement of 317 Unima 2000 Systemy Teleinformatyczne S.A. 86

90 Income tax 73 Minority shares Net profit 244 Geographical segments data for the period from to Domestic Uni on Export Total Total income External sales Income from discontinued activity Sales between segments Tangible fixed assets Deferred tax assets 705 Geographical segments data for the period from to Total income External sales Income from discontinued activity Sales between segments Tangible fixed assets Deferred tax assets 624 Unima 2000 Systemy Teleinformatyczne S.A. 87

91 11. Impairment losses of financial assets, tangible fixed assets, intangible assets or other assets and the reversal of such impairment losses Data of the parent entity Unima 2000 Systemy Teleinformatyczne S.A. BO as at Increases Decreases no changes as at Write-off on fixed assets 0 0 Write-off on inventories Write-off on receivables Write-off on loans 0 0 Write-off on shares Total write-offs Data of the Capital Group Unima 2000 BO as at Increases Decreases no changes as at Write-off on fixed assets 0 0 Write-off on inventories Write-off on receivables Write-off on loans 0 0 Write-off on goodwill Total write-offs Unima 2000 Systemy Teleinformatyczne S.A. 88

92 12. Income tax Current tax Data of the parent entity Unima 2000 Systemy Teleinformatyczne S.A. CURRENT INCOME TAX Gross profit (loss) Differences between gross profit (loss) and income tax base - inclusion in tax income, exemption from tax income, corrections of tax-deductible costs Taxable income Deductions from revenues 5. Income tax base Income tax acc. to 19 % rate Increases, abandonments, exemptions, deductions and decreases of tax 8. Current income tax for the reporting period ending on 30 September Data of the Capital Group Unima 2000 CURRENT INCOME TAX Gross profit (loss) Differences between gross profit (loss) and income tax base - inclusion in tax income, Unima 2000 Systemy Teleinformatyczne S.A. 89

93 - exemption from tax income, corrections of tax-deductible costs Negative bases of consolidated entities 4.Consolidation corrections of net profit Taxable income Deductions from revenues Income tax base Income tax acc. to 19 % rate Increases, abandonments, exemptions, deductions and decreases of tax 10. Current income tax for the reporting period ending on 30 September Deferred tax provisionsand assets Data of the parent entity Unima 2000 Systemy Teleinformatyczne S.A. Tax assets write-offs as at no Increases Decreases changes as at as at no Write-off on receivables Revaluation write-off on shares 0 0 Impairment of property 0 0 Provisions for employee benefits 3 3 Remuneration and ZUS Valuation of long-term contracts Accrued interest on liabilities 0 0 Unima 2000 Systemy Teleinformatyczne S.A. 90

94 Tax loss including a condensed separate statement of 0 0 Unima 2000 Systemy Teleinformatyczne S.A. 91

95 Revaluation write-off on inventories Liabilities due to contracts with customers Difference between the balance and tax value of fixed assets in leasing Overdue liabilities Other provisions Total assets Tax provision changes as at no Increases changes as at Decreases no Accrued interest on receivables Exchange rate gains 0 0 Valuation of long-term contracts Deferred income 0 0 Difference between balance and tax value of fixed assets Tax recognized in the result Tax attributed to the capital Total provision Data of the Capital Group Unima 2000 Tax provision write-offs as at no Increases changes as at Decreases no Write-off on receivables Unima 2000 Systemy Teleinformatyczne S.A. 92

96 Revaluation including write-off a condensed shares separate statement of 0 0 Unima 2000 Systemy Teleinformatyczne S.A. 93

97 Impairment of property 0 0 Provisions for employee benefits 4 4 Remuneration and ZUS Valuation of long-term contracts Accrued interest on liabilities 0 0 Tax loss Write-off on inventories Liabilities due to contracts with customers Difference between the balance and tax value of fixed assets in leasing Overdue liabilities Other provisions Total assets Tax provision changes as at no Increases Decreases changes as at as at no Accrued interest on receivables Exchange rate gains 0 0 Valuation of long-term contracts Deferred income 0 0 Difference between balance and tax value of fixed assets Tax recognized in the result Tax recognized in the capital Unima 2000 Systemy Teleinformatyczne S.A. 90

98 Total provision Tangible fixed assets Significant transactions of purchase and sales of tangible fixed assets In the reporting period ending on 30 September 2018 no write-offs on tangible fixed assets were conducted. Under the policy of replacing means of transport, three means of transport were withdrawn from use and sold and for new leasing agreements for the total amount of 558 thousand PLN were concluded. What's more, the leasing agreement for the server use, for the amount of 73 thousand PLN was also concluded. With regard to fixed assets in progress, the expenditures for the construction of two ICT systems in the total amount of 587 thousand PLN were made. The created systems shall be subject to the lease for customers under the conducted agreements. As at the preparation of this report, both systems were handed for use Significant liabilities due to the purchase of tangible fixed assets In the reporting period ending on 30 September 2018, the Group did not have any liabilities due to the purchase of tangible assets. 14. Creation, increase, utilization and release of provisions As at 30 September 2018 in the accounting records, the Caputal Group had short-term provisions for future costs in the total amount of 595 thousand PLN. The value of long-term provisions for retirement benefits did not change and it amounted to 20 thousands PLN. In the foreseeable future, the Group is not planning any restructuring activities; therefore, as at 30 September 2018 no provision for such costs was created. The description of short-term provisions and changes within the period of three months ending on 30 September 2018 is presented in the table below: Unima 2000 Systemy Teleinformatyczne S.A. 91

99 14.1. Data of the parent entity Unima 2000 Systemy Teleinformatyczne S.A. Short-term provision due to increase creation utilization release provision for liabilities due for bonuses and commissions provision for other costs of contracts provision for costs of services provision for other costs provision for costs of warranty repairs total provisions Consolidated data of UNIMA 2000 Group Short-term provision due to increase creation utilization release provision for liabilities for bonuses and commissions Unima 2000 Systemy Teleinformatyczne S.A. 92

100 provision for including a condensed separate statement of Unima other costs 2000 of Systemy Teleinformatyczne 152 S.A. prepared 50 in thousand PLN contracts Unima 2000 Systemy Teleinformatyczne S.A. 93

101 provision for cost of services provision for other costs provision for costs of warranty repairs total provisions Significant settlements due to litigations In the presented period, no proceedings, concerning liabilities or debts of UNIMA2000 Systemy Teleinformatyczne S.A. or its subsidiaries, whose total amount would constitute at least 10% of equity of the parent entity (the level of 10% of equity is understood as a significant level), were instituted or pending before any court, arbitration authority or public administration. 16. Corrections of mistakes from previous periods In the period ending on 30 September 2018, no corrections of mistakes from previous periods were made. 17. Credits and loans New credits and loans In the interim period ending on 30 September 2018, the Group did not take any new credits. On 17 July, the annex to the agreement concerning a multi-purpose was signed. Under the annex, the period of a multi-purpose credit was extended to 17 July (Cur.report 23/2018 z ). Out of the Unima 2000 Systemy Teleinformatyczne S.A. 94

102 owned credit limits in the total amount of thousand PLN as at , the Group used thousand PLN in the form of guarantee deposits, 743 thousand PLN on current accounts and 247 thousand PLN on working capital facility Information on not paying a credit or a loan or on a breach of the material provisions of a credit or a loan with regard to which no corrective actions had been taken until the end of the reporting period Within the period of nine months ending on 30 September 2018, the above events did not take place. 18. Contingent liabilities and assets Contingent liabilities of the Group as at30 September 2018amount to thousand PLN and they result from proper securing of the good performance of the agreements. The Company uses bank and insurance guarantees. The bank guarantees are granted by PKO BP S.A., under a multi-purpose credit. The value of these guarantees as at amounted to thousand PLN,including Iqnet Sp.z o. o. in the amount of 205 thousand PLN for securing the contract with Eiffage Polska. What is more, Alior Bank granted a guarantee for the execution of contract with Polimex Opole Sp. z o.o. with its registered office in Warsaw, in the amount of thousand PLN. The value of insurance guarantees as at amounted to thousand PLN. They are granted by T U Allianz Polska S.A under a guarantee limit up to under a guarantee limit up to thousand PLN. Contingent items of the parent entity Unima 2000 Systemy Teleinformatyczne S.A. SEPARATE OFF-BALANCE SHEET ITEMS as at as at as at Contingent receivables 1.1. From affiliates (due to) - granted guarantees and warranties 1.2. From other entities (due to) Unima 2000 Systemy Teleinformatyczne S.A. 95

103 - received guarantees and warranties 2. Contingent liabilities To affiliates (due to) granted guarantees and warranties For other entities (due to) granted guarantees and warranties Other (due to) - guarantees Total off-balance sheet items Contingent items of UNIMA 2000 Capital Group CONSOLIDATED OFF-BALANCE SHEET ITEMS as at as at as at Contingent receivables 1.1. From affiliates (due to) - granted guarantees and warranties 1.2. From other entities (due to) - received guarantees and warranties 2. Contingent liabilities To affiliates (due to) - granted guarantees and warranties 2.2. For other entities (due to) granted guarantees and warranties Other (due to) - guarantees Total off-balance sheet items Unima 2000 Systemy Teleinformatyczne S.A. 96

104 In the reporting period, the parent entity and its subsidiaries did not grant any guarantees, credit warranties, loans to the entities from outside of the Capital Group and under the Capital Group. 19. Transactions with affiliates Transactions of affiliates Qualitative and quantitative overview of transactions with affiliates is provided below Entity Entities Staff Board parent affiliated Managing Supervisory Sales to affiliates Purchases from affiliates Operating receivables Operating liabilities Receivables from financial operations Liabilities from financial operations Employee benefits due to concluded agreements agreements and managing and supervisory functions Unima 2000 Systemy Teleinformatyczne S.A. 97

105 As at the liabilities due to financial operations are as follows: liabilities of IQNet Sp. z o.o. towards Unima 2000 Systemy Teleinformatyczne S.A. due to interest on repaid agreements concerning short-term loans in the amount of 253 thousand PLN and the granted loan together with accrued interest in the total amount of 590 thousand PLN liabilities of Lockus Sp. z o.o. towards the parent entity due to granted short-term loans, together with the accrued interest in the total amount of 482 thousand PLN Information on untypical significant transactions with affiliates on the terms other than the market terms Transactions under the companies of the Group conducted in the interim period ending on30 September 2018were typical transactions, made on market terms and their nature resulted from current operating activity of Unima 2000 Systemy Teleinformatyczne S.A. and itsaffiliates. 20. Declared or paid dividend In the period ending on 30 September 2018, no dividend was paid. According to the resolution of GSM of the parent entity, the payment of dividend in the amount of PLN, i.e. 0,12 PLN per share, was declared.19 September 2018 was set as the date of acquisition of rights to the dividend (the dividend date) and 4 October 2018 as the date of payment of the dividend. 21. Information concerning the issue, buy-out and repayment of non-equity and equity securities Unima 2000 Systemy Teleinformatyczne S.A. 98

106 In the interim reporting period ending on30 September 2018 no issue or repayment of debt or capital securities took place. 22. Financial instruments Financial assets consolidated data Classification of financial assets IFRS 9 IFRS 9 IAS 39 Financial assets Financial assets valued at amortized cost Trade receivables Granted loans Cash and cash equivalents Deposits Impairment of financial assets Specification of receivables Trade receivables Deposits due to construction contracts Write-off on trade receivables Receivables due to taxes other than CIT Disputable receivables Write-off on disputable receivables Other receivables Unima 2000 Systemy Teleinformatyczne S.A. 99

107 Total net receivable The Group conducts the estimation of expected losses for trade receivables and deposits due to agreements based on the prepared matrices of write-offs / note 2.4/. As a result of the estimation, the write-off on receivables in the amount of 3 thousand PLN was corrected. Other receivables are mainly tax receivables which result from the use of reverse VAT charge. The receivables shall be returned or settled with the Tax Office in other way up to 60 days from the balance sheet date. With regard to the disputable receivables in the amount of 36 thousand PLN, the Group decided to maintain the impairment loss in 100% until the dispute is settled by Court. The calculation of write-offs on trade receivables and deposits due to agreements, prepared as at , is provided below. Receivables - building automation Current 0-30 days days days more than 90 days Receivables as at , ,00 374,00 76,00 615,00 Obligation unfulfilment ratio 0,103% 0,42% 0,54% 2,07% Expected credit losses 19,78 5,07 1,57 0,4 12,73 Receivables - IT services and Current 0-30 days IT days days more than 90 days Receivables as at , Obligation unfulfillment ratio 0,01% 1,65% 4,13% 2,17% Expected credit losses 2,87 0,13 0,83 0,70 1,22 Receivables - call/contact center Current 0-30 days days days more than 90 days Receivables as at , , ,00 Obligation unfulfillment ratio 0,01% 0,00% 0,00% 22,17% Unima 2000 Systemy Teleinformatyczne S.A. 10

108 Expected credit losses 0,17 0,17 0,00 0,00 0,00 Unima 2000 Systemy Teleinformatyczne S.A. 10

109 Receivables -other services Current 0-30 days days days more than 90 days Receivables as at ,00 89, ,00 Obligation unfulfillment ratio 0,01% 117,47% 9,22% 97,11% Expected credit losses 2,92 0 0,00 0 2,91 Total value of expected credit losses 25, Financial liabilities data of the parent entity Classification of financial assets IFRS 9 IFRS 9 IAS 39 Financial assets Financial assets valued at amortized cost Trade receivables Deposits due to contracts Granted loans Cash and cash equivalents Deposits Impairment of financial assets Trade receivables Unima 2000 Systemy Teleinformatyczne S.A. 100

110 Deposits due to construction contracts Write-off on trade receivables Receivables due to taxes other than CIT Disputable receivables Write-off on disputable receivables Granted loans Other receivables Total net receivables Unima2000 Systemy Teleinformatyczne S.A. conducts the estimation of expected losses for trade receivables and deposits due to agreements based on the prepared matrices of write-offs / note 2./5/. As a result of the estimation, the write-off on receivables in the amount of 3 thousand PLN was corrected. Other receivables are mainly tax receivables which result from the use of reverse VAT charge. The receivables shall be returned or settled with the Tax Office in other way up to 60 days from the balance sheet date. With regard to the disputable receivables in the amount of 36 thousand PLN, the Group decided to maintain the impairment loss in 100% until the dispute is settled by Court. The calculation of write-offs on trade receivables and deposits due to agreements, prepared as at , is provided below. Receivables - building automation Total Current 0-30 days days days more than 90 days Receivables as at , , ,00 Obligation unfulfillment ratio 0,103% 0,42% 0,54% 2,07% Expected credit losses 18,94 4,24 1,57 0,4 12,73 Receivables - ICT services and Total IT Current 0-30 days days days more than 90 days Receivables as at , Obligation unfulfillment ratio 0,01% 1,65% 4,13% 2,17% Expected credit losses 2,87 0,13 0,83 0,70 1,22 Unima 2000 Systemy Teleinformatyczne S.A. 101

111 Receivables - other services Current 0-30 days days days more than 90 days Receivables as at ,30 98,40 27,7 10,2 0,00 Obligation unfulfillment ratio 0,14% 1,75% 2,22% 2,35% Expected credit losses 0,62 0,14 0,48 0 0,00 Total value of expected credit losses 22, Financial assets consolidated data Classification of financial liabilities IFRS 9 IFRS 9 IAS 39 Financial liabilities Liabilities valued at amortized cost Liabilities due to purchase of goods and services Credits and loans Leasing liabilities Financial liabilities data of the parent entity Classification of financial liabilities IFRS 9 IFRS 9 IAS 39 Financial liabilities Liabilities valued at amortized cost Unima 2000 Systemy Teleinformatyczne S.A. 102

112 Liabilities due to purchase of goods and services Credits and loans Leasing liabilities Cash flow hedging In the reporting period, Unima 2000 Group used the cash from the owned multi-purpose credit granted by PKOBP S.A. and the overdraft granted by Alior Bank S.A. As at the reporting date, 30 September 2018, WIBOR 1M, on which the interest rates of credits taken at PKO BP are based amounted to 1,64and it was lower by 0,02 than on the date of signing the multi-purpose limit agreement. As at , WIBOR 3M remains at the same level as at the date of signing an annex to the overdraft agreement granted by Alior Bank S.A. In the light of the above, no derivative instruments hedging interest rate risk were used. In the reporting period ending on 30 September 2018, the Group did not take any credit liabilities in foreign currencies. The only currency liabilities are short-term liabilities due to purchase of materials and services. In the reporting period, no securing instruments of the forward and swap types were used. The value of currency liabilities converted to Polish zloty as at 30 September 2018 amounted to 709 thousand PLN (491 thousand PLN in 2017) The balance of realized exchange rate differences for the first nine months of 2018 amounted to +25 thousand PLN, and currency liabilities and receivables from the balance sheet valuation -6 thousand PLN. No hedge accounting is applied Changes in economic situation and the conditions of conducting business which have a significant impact on the value of financial assets and liabilities of the parent entity and the Capital Group, irrespective of whether such assets and liabilities are recognized in their fair value or adjusted acquisition price. Within the period of nine months ending on30 September 2018, there were no changes in economic situation and conditions of conducting business which have a significant impact on the value of financial assets Unima 2000 Systemy Teleinformatyczne S.A. 103

113 and liabilities of the parent entity and the Capital Group, irrespective of whether such assets and liabilities are recognized in their fair value or adjusted acquisition price Change in the method of determining a fair value of financial instruments During the period covered by the statement, no changes to the methods of determination of fair value of financial instruments took place Changes in the classification of financial assets as a result of the change in the purpose or utilization of such assets During the period of nine months ending on 30 September 2018, no changes to the classification of financial assets as a result of the change of purpose or utilization of these assets took place. 23. Euro exchange rates used for the conversion of the selected financial data Assets and liabilities after conversion according to the average exchange rate applicable as at the date of preparing the statement: - 30 September ,3091 PLN / EUR (table 189/A/NBP/2017 as at ) - 30 December ,1709 PLN / EUR (table 251/A/NBP/2017 as at ) - 30 September ,2714 PLN / EUR (table 189/A/NBP/2018 as at ) Assets and liabilities have been converted according to the EUR average exchange rate applicable as at the date of preparing the statement and they constitute an average number of average exchange rates published by NBP as at the last day of the month: - III quarter ,2566 PLN/EUR Unima 2000 Systemy Teleinformatyczne S.A. 104

114 ,2447 PLN /EUR - III quarter ,2535 PLN/EUR 24. Statement of changes in the number of shares by supervising persons As at As at Krzysztof Kniszner Krzysztof Sikora Jolanta Matczuk As at the date of publication of this report, the parent entity did not receive any information concerning the changes of the above data. 25. Statement of changes in the number of shares by supervising persons As at Zbigniew Pietroń 0 Sławomir Jarosz with affiliates Patrycja Buchowicz 0 Piotr Zając 0 Magdalena Kniszner As at As at the date of publication of this report, the parent entity did not receive any information concerning the changes of the above data. Unima 2000 Systemy Teleinformatyczne S.A. 105

115 26. Changes in the ownership structure of significant blocks of shares (in units) As at As at Shareholder of shares number % total number of shares % votes on GSM num ber of shar es % total number of shares % votes on GSM Magdalena Kniszner ,11 31, ,11 31,46 Krzysztof Kniszner ,96 31, ,96 31,36 Cezary Gregorczuk ,97 7, ,97 7,85 As at the date of publication of this report, the parent entity did not receive any information concerning the changes of the above data. 27. Events after the end of the reporting period not recognized in this statement, which could significantly influence the future results of the parent entity and the Capital Group After the balance sheet date, no events not recognized in this financial statement, which could influence the financial situation of the Group, took place. 28. Other information which could significantly influence the evaluation of the property and Unima 2000 Systemy Teleinformatyczne S.A. 106

116 financial situation as well as the financial result of the parent entity and the Capital Group As at the preparation of the report and additional information, no information other than the ones disclosed in the considerations relevant from the point of view of the evaluation of staff, property and financial situation as well as the financial result and their changes and the ones relevant for the evaluation of the possibility of execution of the liabilities by the Company and Unima 2000Capital Group were present. 29. Factors which in the Issuer's opinion will have an impact on the achieved financial results in the perspective of at least next quarter In the opinion of the Company s Management Board, the following internal factors shall play an important role in shaping the results in the next quarter: effectiveness of activities increase in the number of orders and concluded agreements increase in profitability on contracts improvement of the results of subsidiaries and external factors demand for advanced technologies offered by the Company financial situation of current and potential contractors macroeconomic situation in Poland economic situation of global companies having their headquarters in Poland and their willingness to invest in modern technologies political and economic situation of EU and global economy Unima 2000 Systemy Teleinformatyczne S.A. 107

117 30. Approval of the statement's publishing On this report was approved for publishing by the Management Board. Kraków, 19 November 2018 PRESIDENT OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD MEMBER OF THE MANAGEMENT BOARD Krzysztof Kniszner Krzysztof Sikora Jolanta Matczuk Unima 2000 Systemy Teleinformatyczne S.A. 108

118 Unima 2000 Systemy Teleinformatyczne S.A. Main office Branch in Warsaw Office in Wrocław