Interim financial statements
of AB S.A. for H1 2012/2013
Ul. Kościerzyńska 32, 51-416 Wrocław, Tel (+48 71) 3240 500, fax (+48 71) 32 40 529, 78 90 529, www.ab.pl TABLE OF CONTENTS:
I) Introduction to the financial statements ... 5
1. Company, legal form and scope of business ... 5
2. Presentation and transformation of the financial statements ... 6
3. Accounting principles (policies) ... 6
3.1. Methods of asset and liability measurement and financial result measurement ... 7
The value of fixed assets under construction is disclosed as the value of outlays incurred for purchase or manufacture. The value of fixed assets under construction is adjusted with FX differences and interest on the obligations financing the purchase or construction of fixed assets for the investment period. When fixed assets under construction are commissioned, FX loss (gains) and interest on the obligations are charged to financial expenses (income). ... 7
3.2. Mean PLN/EUR exchange rates in the period under report ... 11
3.3. Selected financial data translated into euro ... 11
3.4. Material differences between the financial data of the presented financial statements and the same data presented in accordance with the International Accounting Standards ... 12
II) Balance sheet as at 31 December 2012 ... 13
III) Profit and loss account for the period from 1 July 2012 to 31 December 2012 ... 15
IV) Statement of changes in equity ... 18
V) Cash flow statement ... 20
VI) Additional notes and explanations ... 22
1. Explanatory notes to the balance sheet ... 22
1.1. Note 1a – Intangible Assets ... 22
1.2. Note 1b – Intangible assets (ownership structure) ... 22
1.3. Note 1c – Changes of the value of intangible assets (by group types) ... 23
1.4. Note 2a - Tangible fixed assets ... 24
1.5. Note 2b – Tangible fixed assets (ownership structure) ... 24
1.6. Note 2c - Change in fixed assets (by type) ... 25
1.7. Note 3a – Change to status of properties (by type) ... 26
1.8. Note 3b – Long-term financial assets ... 26
1.9. Note 3c – Change to long-term financial assets (by type) ... 26
1.10.Note 3d - Shares in subsidiaries ... 28
1.11.Note 3e - Shares in subsidiaries ... 29
1.12.Note 3f – Securities, interests and other long-term financial assets ... 30
1.13.Note 3g – Securities, interests and other long-term financial assets (by tradability) ... 30
1.14.Note 4a - Change of deferred income tax asset ... 30
1.15.Note 5a – Inventories ... 32
1.16.Note 6a – Short-term receivables ... 32
1.17.Note 6b – Short-term receivables from related entities ... 32
1.18.Note 6c – Change to revaluation charge to short-term receivables ... 33
1.19.Note 6d – Gross short-term receivables (currency structure) ... 33
1.21.Note 6f – Overdue trade receivables (gross) – split by overdue periods ... 34
1.22.Nota 7a – Disputed and overdue receivables ... 34
1.23.Note 8a – Short-term financial assets ... 34
1.24.Note 8b – Granted short-term loans (currency structure) ... 35
1.25.Note 8c – Cash and cash equivalents (currency structure) ... 35
1.26.Note 9a – Short-term accruals ... 36
1.27.Note 10a – Revaluation write-downs ... 36
1.28.Note 11a – Share capital (structure) ... 36
1.29.Note 12a – Treasury shares ... 37
1.30.Note 13a – Reserve capital ... 37
1.31.Note 13b – Revaluation reserve ... 37
1.32.Note 14a – Other reserve funds (by intended application) ... 38
1.33.Note 15a – Change of deferred income tax provision... 38
1.34.Note 15b – Change to short-term provision for pension and similar benefits ... 39
1.35.Note 15c – Change to other short-term provisions ... 39
1.36.Note 17a – Short-term liabilities ... 40
1.37.Note 17b – Short-term liabilities (currency structure) ... 40
1.38.Note 17c – Short-term liabilities under loans ... 41
1.39.Note 18a – Book value per share ... 42
2. Explanatory notes to the profit and loss account ... 42
2.1. Note 19a - Net revenues from sale of products (structure by type – types of activity) ... 42
2.2. Note 19b – Net revenues from sales of products (territorial structure) ... 42
2.3. Note 20a - Net revenues from sale of goods and materials (structure by type – types of activity) ... 42
2.4. Note 20b - Net revenues from sale of products, goods and materials (territorial structure) ... 43
2.5. Note 21a – Costs by type ... 43
2.6. Note 22a – Other operating revenues ... 44
2.7. Note 23a – Other operating expenses ... 44
2.8. Note 24a – Interest income ... 44
2.9. Note 24b - Other financial income ... 45
2.10.Note 25a – Interest expense ... 45
2.11.Note 25b – Other financial expense ... 45
2.12. Note 26a – Current income tax ... 45
2.13.Note 26b – Deferred income tax stated in the profit and loss account ... 46
2.14.Note 27a – Profit per share... 47
3. additional explanatory notes – information on financial instruments ... 47
3.1. Classification of financial instruments... 47
3.2. Details of financial instruments by category ... 48
4. Details of off-balance sheet items, including contingent liabilities ... 55
5. Liabilities to the State budget or local budget for acquisition of title to buildings and structures ... 55
6. Information on revenues, expenses and results of discontinued activities in the financial year or to be discontinued in the next year ... 55
7. Manufacture costs of fixed assets under construction, fixed assets for internal needs 55 8. incurred investment outlays ... 56
Ul. Kościerzyńska 32, 51-416 Wrocław, Tel (+48 71) 3240 500, fax (+48 71) 32 40 529, 78 90 529, www.ab.pl 9. Transactions with related entities concerning transfer of rights and liabilities ... 56 10. Information on non-consolidated joint ventures ... 56 11. Information on average headcount split by professional grpup ... 57 12. Total amount of remuneration and bonus (in cash and in kind) paid or payable,
separately for persons managing and supervising the issuer in the issuer’s business. 57 13. Information on remuneration for the statutory auditor or an entity entitled to audit
financial statements paid or payable for the period under report. ... 58 14. Information on outstanding advances, loans, guarantees, sureties and other contracts
in favour of the Company by subsidiary, co-controlled and associated entities ... 58 15. Material events related to previous years disclosed in the financial statements for the
current period ... 58 16. Information on material events occurred after the balance sheet date and not disclosed in the financial statements... 58 17. Relations between the legal predecessor and the Company and on the method and
extent of taken over assets and liabilities... 58 18. Adjustment of the financial statements and comparable financial data for inflation ... 58 19. Differences between previous published financial statements and the data disclosed in these financial statements and comparable financial data ... 59 20. Changes to the applied accounting rules (policies) and presentation method of the
financial statements in relation to the preceding financial year(s), reasons thereof, titles and impact of the financial effects on the economic and financial condition, liquidity and financial results and profitability ... 59 21. Adjustment of manifest errors ... 59
I)
I
NTRODUCTION TO THE FINANCIAL STATEMENTS
1. COMPANY, LEGAL FORM AND SCOPE OF BUSINESS
• Details of the entity:Business name: AB S.A.
Address of the head office: ul. Kościerzyńska 32, 51-416 Wrocław Statistical number REGON: 931908977
Tax identification number NIP: 895-16-28-481
Registration body: District Court for Wrocław – Fabryczna, VI Commercial Division of the National Court Register. The entry to the register was made on 23.10.2001 under number KRS 0000053834.
Duration of the Company: unlimited
• Business objects of the Company (as per the Company’s by-laws):
- wholesale and retail trade in computers, telecommunications, multimedia and electronic equipment on one’s own account, on commission, as an agency or commercial intermediation,
- import and export of computers, telecommunications, multimedia and electronic equipment, - development of software products and trading in such products,
- installation of IT networks,
- assembly and repair of computers, telecommunications, multimedia and electronic equipment, - Internet services,
- maintenance services, - IT consulting,
- implementation of computer systems,
- services related to promotion, advertising and marketing, - activities related to training, publication and printing services, - operation of bonded warehouses,
- forwarding and transportation services, - rental of premises.
• Management Board
As at 31 December 2012 the Company’s Management Board was composed as follows:
• Andrzej Przybyło – President of the Management Board
• Krzysztof Kucharski – Member of the Management Board, Corporate and Legal Director
• Zbigniew Mądry – Member of the Management Board, Commercial Director
• Grzegorz Ochędzan– Member of the Management Board, Financial Director
Ul. Kościerzyńska 32, 51-416 Wrocław, Tel (+48 71) 3240 500, fax (+48 71) 32 40 529, 78 90 529, www.ab.pl • Supervisory Board
As at 31 December 2012 the Company’s Supervisory Board was composed as follows:
• Iwona Przybyło – Chairwoman of the Supervisory Board
• Katarzyna Jażdrzyk – Member of the Supervisory Board
• Andrzej Bator – Member of the Supervisory Board
• Jacek Łapiński – Member of the Supervisory Board
• Jan Łapiński – Member of the Supervisory Board
• Radosław Kiełbasiński – Member of the Supervisory Board
The composition of the Supervisory Board has not changed in the period under report until the date hereof
2. PRESENTATION AND TRANSFORMATION OF THE FINANCIAL STATEMENTS
The non-consolidated financial statements present financial data for the reporting period from 1 July 2012 to 31 December 2012, i.e. the first half of the Company’s financial year covering the period from 01 July 2012 to 30 June 2013, and comparable data covering the period from 1 July 2011 to 31 December 2011.AB S.A. does not include any internal organisational sub-units that would prepare their own financial statements.
The Company is the parent company for Alsen Sp. z o.o. in Chorzów, Alsen Marketing Sp. z o.o. in Chorzów, B2B IT Sp. z o.o. in Wrocław and AT Computers Holding a.s. with its registered office in Ostrava, Czech Republic, which holds 100% shares in the following entities:
– AT Computers a.s. with its registered office in Žilina, Slovakia,
– AT Compus s.r.o. with its registered office in Ostrava, Czech Republic, – AT Computers s.r.o. with its registered office in Ostrava, Czech Republic, – Comfor Stores a.s. with its registered office in Brno, Czech Republic, – iComfor s.r.o with its registered office in Brno, Czech Republic.
In the period under report AB S.A. was not party to any merger.
The financial statements have not been transformed and no adjustments have been made that would have resulted from reservations expressed by the auditor auditing the presented financial statements.
The financial statements were prepared on a going concern basis in the foreseeable future. There are no circumstances posing a hazard to continued operations.
3. ACCOUNTING PRINCIPLES (POLICIES)
The accounting principles applied in the preparation of the financial statements as at 31 December 2012 are compliant with the Accounting Act of 29 September 1994 and the resultant additional regulations as well as the Regulation of the Minister of Finance of 18.10.2005 on the scope of financial information disclosed in financial statements and consolidated financial statements, required in issue prospectuses for issuers with their registered offices in the Republic of Poland, subject to Polish accounting rules.
Booking entries are made in accordance with the historic cost convention. The Company did not make any adjustments that would reflect the impact of inflation on balance sheet and profit and loss items.
The Company prepares its profit and loss account by function.
The cash flow statement is made with the indirect method.
3.1.
Methods of asset and liability measurement and financial result
measurement
• Intangible assets
Intangible assets cover computer software and goodwill resulting from contribution of an organised part of enterprise, and are amortised over 2 to 5 years. Intangible assets are valued at purchase or manufacturing cost reduced by accumulated amortisation. Intangible assets are tested every year for impairment. Intangible assets are amortised with the linear method.
• Tangible fixed assets
Tangible fixed assets are valued at purchase cost or the costs incurred for manufacturing, extension or modernisation. The initial value of tangible fixed assets is reduced by accumulated depreciation. Tangible fixed assets are depreciated with the linear method.
The annual depreciation rates in specific groups are as follows:
Type Rate
Buildings and structures 2.5% - 4.0%
Plant and equipment 7.0% - 60.0%
Motor vehicles 17.0% - 20.0%
Other fixed assets 14.0% - 20.0%
Tangible fixed assets with the original value under TPLN 2 500 are expensed when taken over for use.
Tangible assets are evaluated in terms of permanent impairment on an annual basis.
• Fixed assets under construction
The value of fixed assets under construction is disclosed as the value of outlays incurred for purchase or manufacture. The value of fixed assets under construction is adjusted with FX differences and interest on the obligations financing the purchase or construction of fixed assets for the investment period. When fixed assets under construction are commissioned, FX loss (gains) and interest on the obligations are charged to financial expenses (income).
• Inventories
Ul. Kościerzyńska 32, 51-416 Wrocław, Tel (+48 71) 3240 500, fax (+48 71) 32 40 529, 78 90 529, www.ab.pl The purchase price covers all costs incurred to deliver the inventories to the Company warehouse. Outgoing stocks are valued at purchase price with the weighted average method.
The net sales price is the realisable price as at the balance sheet date net of VAT.
• Receivables and payables, loans
Receivables and payables (with the exception of loans) in PLN are disclosed in the payable amounts. Foreign currency denominated receivables and payables are recognised at the time they arise at the mean exchange rate published by the President of the NBP for the relevant foreign currency. Loan receivables and payables are recognised with the amortised cost method.
FX gains or losses originating on the payment date and due to the difference between the exchange rate as at the payment date and the exchange rate at the time when the receivable or payable was created are posted directly in financial income or expenses, respectively.
Receivables unsettled by the end of the reporting period are translated at the mean exchange rate for the relevant currency published by the National Bank of Poland on that date.
Payables unsettled by the end of the reporting period are translated at the mean exchange rate for the relevant currency published by the National Bank of Poland on that date.
Unrealised FX losses concerning settlements are recognised as financial expenses while unrealised FX gains are recognised as financial income.
Receivables are adjusted with revaluation write-downs applied to all those receivables whose collection is little probable.
• Cash
Domestic cash on hand and in bank accounts is recognised at nominal value. Foreign currency cash is valuated at nominal value translated into PLN. As at the end of each reporting period, cash in foreign currencies is translated at the mean FX rate of the National Bank of Poland prevailing at the balance sheet date. FX gains and losses resulting from the translation of foreign currency cash into PLN as at the end of the reporting period are recognised as financial income or expenses, respectively.
• Prepayments
Prepayments are recognised in the amount of costs payable in future reporting periods. Such costs are recognised in proportion to time elapsed and the recognition method is justified with the nature of the costs. Prepayments are recognised at nominal value.
• Deferred income tax and deferred income tax provision
In connection with temporary differences between the book value of assets and liabilities and their tax value deductible in the future, the Company establishes a deferred income tax provision and asset.
The deferred income tax asset is established in the amount expected to be deducted from income tax in the future in conjunction with negative temporary differences that will lead, in the future, to a decrease in the income tax base, estimated in accordance with the prudence principle. The deferred income tax asset is reduced by the deferred income tax provision, in compliance with the Accounting Act.
The deferred income tax provision is established in an amount of the income tax to be payable in the future in connection with the existence of positive temporary differences (to increase the taxation base).
• Equity
Share capital is recognised at nominal value. As at the balance sheet date, the share capital amounts to PLN 16 187 644 and is composed of 16 187 644 shares with nominal value of PLN 1.00 each.
Reserve capital is recognised as the surplus of the share sale price over their nominal value and the nominal value of retained profit.
• Accruals
Accruals are recognised as non-incurred costs but attributable to a reporting period. Accruals are recognised at nominal value.
• Deferred income
Deferred income is recognised at nominal value. .
• Special funds
Special funds include Company Social Benefit Fund, established in compliance with the Act on Company Social Benefit Funds.
• Balance sheet recognition and valuation of financial instruments
All financial assets, including investments in financial instruments, are classified into one of the four categories on the purchase date:
- held for trading, - held to maturity,
- loans granted and company receivables, - available for sale.
Financial assets held for trading include financial assets that have been purchased or developed in order to obtain gains as a result of short-term (up to three months) price fluctuations, or financial assets irrespective of the reason of purchase, constitute an asset group that was used recently to obtain gains as a result of price fluctuations.
Financial assets kept until maturity are financial assets with defined or definable maturity dates that the Company intends and is able to keep until maturity, with the exception of loans granted and company receivables.
All loans and receivables that meet the definition of financial instruments as provided in art. 3.1. 23 of the Accounting Act, generated as a result of provision of cash, goods or services to counterparties, that the Company did not classify as available for sale in short term, are classified as loans and company receivables.
Ul. Kościerzyńska 32, 51-416 Wrocław, Tel (+48 71) 3240 500, fax (+48 71) 32 40 529, 78 90 529, www.ab.pl Financial assets available for sale include all financial assets other than: loans granted and company receivables, financial assets held until maturity and financial assets held for trading. Assets available for trading include in particular shares in other entities that are not subsidiary entities that the Company does not intend to sell in short term.
Liabilities are classified to one of the following two categories: derivative instruments with fair value under zero and obligations to deliver borrowed financial instruments in case of short sale are classified as financial liabilities available for trading; all other financial liabilities are classified as other financial liabilities.
As at the contract date, financial assets are recognised at cost which is the fair value of incurred expenses or other delivered assets while financial liabilities at fair value of the obtained amount or value of the acquired assets.
Assets held till maturity, loans granted and company receivables and other financial liabilities, not classified by the Company as available for trading, are valued at the amortised cost at the effective interest rate. Short-term receivables and payables (held for trading) for which the discount effect is not material are valued at the amount receivable/payable. Short-term receivables provide for impairment which means that the amount of receivables is adjusted for the extent of payment probability by applying revaluation write-downs.
Financial assets and liabilities held for trading and financial assets available for sale are recognised at fair value.
Changes to the fair value of financial instruments held for trading which are not part of hedging positions are recognised as financial income or expenses in the profit and loss account when they occur. With respect to financial assets available for sale, changes to the fair value are recognised in the profit and loss account as financial income (expense).
As of 1 July 2011 the Company started to use hedging accounting, in compliance with the applicable Polish regulations. Detailed information is provided in note 3.2.
• Revenues and expenses
The Company recognises as income and profit those economic benefits that occur during the reporting period, with a reliably determined value, in the form of increased assets or reduced liabilities that will result in an increase of equity or reduced shortage of equity otherwise than by additional contributions by shareholders.
The Company recognises as costs and losses probable reduction of economic benefits in the reporting period, with a reliably determined value, in the form of reduced assets or increased liabilities and provisions that will result in a decrease of equity or an increase of shortage of equity otherwise than by withdrawal of funds by the shareholders.
Revenues from sales of goods result from sale transactions subject to discounts and rebates.
The costs of sold goods include the purchase price, transactions subject to discounts and rebates.
The overheads include the operating costs of the Company, in particular: costs of management and costs of departments operating for the Company.
Other operating revenues and costs include revenues and costs not related directly to the business of the Company, primarily result on disposal of tangible fixed assets and intangible assets, donations, established provisions, revaluation effects of non-financial assets.
Financial income and expenses cover primarily interest attributable to the period, gains and losses on disposal of investments and FX differences.
In compliance with memorandum accounting, revenues and expenses concerning a given period are recognised in the profit and loss account of the reporting period irrespective of the time they are collected or paid.
3.2.
Mean PLN/EUR exchange rates in the period under report
Period Mean rate in the period (1) Minimum rate in the period (2) Maximum rate in the period (3) Exchange rate as at the last day of the period 01.07-30.12.2012 4.1226 4.0465 4.2401 4.0882 01.07-31.12.2011 4.3129 3.9345 4.5642 4.4168 (1)
Mean exchange rate as at the last day of each month in the period (2)
Lowest exchange rate in the period – FX rate tables number: 152/A/NBP/2012, 131/A/NBP/2011 (3)
Highest exchange rate in the period – FX rate tables number: 131/A/NBP/2012, 241/A/NBP/2011
3.3.
Selected financial data translated into euro
SELECTED FINANCIAL DETAILS
PLN ‘000 EUR ‘000 from 01.07.2012 to 31.12.2012 from 01.07.2011 to 31.12.2011 from 01.07.2012 to 31.12.2012 from 01.07.2011 to 31.12.2011 I. Net revenues from the sale of
products, goods and materials 1 853 613 1 440 417 449 622 333 979 II. Profit / (loss) on operations
9 222 40 613 2 237 9 417
III. Gross profit (loss) 25 445 30 857 6 172 7 155
IV. Net profit (loss) 22 961 27 421 5 570 6 358
V. Net cash flows from operating
activities 19 360 -16 261 4 696 -3 770
VI. Net cash flows from investing
activities 1 186 230 288 53
VII. Net cash flows from financing
activities -23 405 9 318 -5 677 2 160
VIII. Total net cash flows -2 859 -6 713 -693 -1 556
IX. Total assets 897 231 820 785 219 468 185 833
X. Liabilities and provisions for
liabilities 581 293 535 764 142 188 121 301
XI. Long-term liabilities
XII. Short-term liabilities 575 884 527 322 140 865 119 390
XIII. Equity 315 938 285 021 77 280 64 531
XIV. Share capital 16 188 16 334 3 960 3 698
XV. Number of shares (pcs.) 16 187 644 16 334 002 16 187 644 16 334 002 XVI. Profit / (loss) per ordinary
share (PLN/EUR) 1.42 1.68 0.34 0.38
XVII. Diluted profit / (loss) per ordinary share (PLN/EUR) XVIII. Book value per share
Ul. Kościerzyńska 32, 51-416 Wrocław, Tel (+48 71) 3240 500, fax (+48 71) 32 40 529, 78 90 529, www.ab.pl XIX. Diluted book value per share
(PLN/EUR)
XX. Declared or distributed dividend per share (PLN/EUR)
The balance sheet numbers as at the last day of the half-year period of 2011 – 31 December 2011 were translated at the EUR rate announced by NBP as at that day of PLN/EUR 4.4168 .
The balance sheet numbers as at the last day of the half-year period of 2012 – 31 December 2012 were translated at the EUR rate announced by NBP as at that day of PLN/EUR 4.0882.
To translate the numbers in the profit and loss account for the period of 2012 – from 1 July 2012 to 31 December 2012 a mean EUR rate was used, calculated as the arithmetic mean of the exchange rates prevailing as at the last day of each month in the period – PLN/EUR 4.1226.
To translate the numbers in the profit and loss account for the period of 2011 – from 1 July 2011 to 31 December 2011 a mean EUR rate was used, calculated as the arithmetic mean of the exchange rates prevailing as at the last day of each month in the period – PLN/EUR 4.3129.
To translate the numbers in the cash flow statement for the period of 2012 – from 1 July 2012 to 31 December 2012 a mean EUR rate was used, calculated as the arithmetic mean of the exchange rates prevailing as at the last day of each month in the period – PLN/EUR 4.1226.
To calculate the numbers in the cash flow statement for the period of 2011 – from 1 July 2011 to 31 December 2012 a mean EUR rate was used, calculated as the arithmetic mean of the exchange rates prevailing as at the last day of each month in the period – PLN/EUR 4.3129.
3.4.
Material differences between the financial data of the presented financial
statements and the same data presented in accordance with the International
Accounting Standards
The Company applies accounting rules and methods compliant with the Act on Accounting of 29 September 1994 (Journal of Laws 2002, No. 76, item 694, as amended; last amendment of 2005, Journal of Laws No. 267, item 2252).
The above mentioned accounting rules applied by the Company differ from the International Financial Reporting Standards (IFRS) in the following aspects:
Discounting of receivables – according to Polish Accounting Standards (PAS), receivables created otherwise than by providing funds to the future debtor, regardless of the lending period, cannot be discounted. Such receivables are disclosed at nominal value. IAS 39 classifies such receivables as company receivables and requires to post them at the adjusted purchase price.
Asset impairment – according to PAS, when a given asset is found to be impaired, its value must be reduced to the net sales price or to the fair value determined otherwise. IAS 36 requires that the values of assets other than inventory, financial instruments, deferred assets and biological assets be adjusted to the higher of the following values: net sales price or use value.
Costs or incorporation or subsequent expansion of a joint-stock company – before the amended Accounting Act came into force, i.e. before 1 January 2002, the costs of incorporation or subsequent expansion of a joint-stock company were subject to activation to intangible assets in the period of 5 years. In compliance with temporary regulations it was required to disclose the non-amortised part of such costs under deferred costs and amortise them for the remaining period. According to IFRS, such costs (with the exception of the costs of
issue subtracted from the surplus of the issue price over the nominal value) are to be posted directly in the profit and loss account.
Deferred income tax – as a result of some of the above differences, the value of deferred income tax provision/asset could be different if the financial statements were prepared in compliance with IFRS.
It should also be noted that certain IFRS require different disclosures and presentation of financial data than the Polish accounting standards.
When preparing these statements, the Management Board made an assumption as to the selection of standards and interpretations that most probably would have been applied in making the first financial statements in compliance with IFRS.
The differences in amounts between the financial statements for the period of 01.07.2012-31.12.2012 made in compliance with IFRS and PAS are immaterial on the unit and summary levels and therefore the Company does not present the differences.
II)
B
ALANCE SHEET AS AT
31
D
ECEMBER
2012
BALANCE SHEET Notes PLN ‘000 as at 31.12.2012 year ended 30.06.2012 as at 31.12.2011 ASSETS I. Fixed assets 174 995 178 661 180 950
1. Intangible assets, of which: 1 597 545 1 348
- goodwill
2. Tangible fixed assets 2 56 724 58 323 59 548
3. Long-term receivables
3.1. From related entities
3.2. from other entities
4. Long-term investments 3 116 849 119 049 118 352
4.1. Real estate properties 452 452 452
4.2. Intangible assets
4.3. Long-term financial assets 116 397 118 597 117 900
a) in related entities, of which: 116 397 118 597 117 433
- shares in subsidiaries are measured with the equity
method
- loans granted 548 2 748 8 584
b) in other entities 467
- loans granted 467
4.4. Other long-term investments
5. Long-term prepayments 4 825 744 1 702
5.1. Deferred income tax asset 825 744 1 702
5.2. Other prepayments and accruals
II. Current assets 722 236 605 064 639 835
1. Inventories 5 312 271 276 280 245 838
2. Short-term receivables 6,7 399 848 315 993 389 936
2.1. From related entities 27 818 7 590 29 807
Ul. Kościerzyńska 32, 51-416 Wrocław, Tel (+48 71) 3240 500, fax (+48 71) 32 40 529, 78 90 529, www.ab.pl
3. Short-term investments 8 8 801 11 762 2 951
3.1. Short-term financial assets 8 801 11 762 2 951
a) in related entities
b) in other entities 391 493 275
c) cash and cash equivalents 8 410 11 269 2 676
3.2. Other short-term investments
4. Short-term prepayments 9 1 316 1 029 1 110 Total assets 897 231 783 725 820 785 BALANCE SHEET Notes PLN ‘000 as at 31.12.2012 year ended 30.06.2012 as at 31.12.2011 LIABILITIES I. Equity 315 938 290 744 285 021 1. Share capital 11 16 188 16 188 16 334
2. Called up share capital not paid (negative value)
3. Treasury shares (negative figure) -838
4. Reserve capital 13 135 503 135 503 135 503
5. Revaluation reserve 1 879 -355 660
6. Other reserve capital 14 139 407 105 249 105 941
7. Retained profit (accumulated loss)
8. Net profit (loss) 22 961 34 159 27 421
9. Net profit distributions during the financial year (negative
value)
II. Liabilities and provisions for liabilities 581 293 492 981 535 764
1. Provisions for liabilities 5 409 4 271 8 442
1.1. Deferred income tax provision 441 155
1.2. Pension and similar benefits provisions 250 250 205
a) long-term b) short-term 1.3. Other provisions 4 718 4 021 8 082 a) long-term b) short-term 4 718 4 021 8 082 2. Long-term liabilities 2.1. To related entities 16
2.2. Towards other entities
3. Short-term liabilities 575 884 488 710 527 322
3.1. To related entities 17 2 489 1 983 3 236
3.2. Towards other entities 573 188 486 255 523 946
3.3 Special funds 207 472 140
4. Accruals
4.1. Negative goodwill
4.2. Other prepayments and accruals
a) long-term
b) short-term
Book value 315 938 290 744 285 021
Number of shares (pcs.) 16 187 644 16 187 644 16 334 002
Book value per share (PLN) 18 19,52 17,96 17,45
Diluted number of shares (pcs.)
Diluted book value per share (PLN)
OFF-BALANCE SHEET ITEMS
Note PLN ‘000 as at 31.12.2012 year ended 30.06.2012 as at 31.12.2011 1. Contingent receivables
1.1. From related entities as
- guarantees and sureties received
1.2. From other entities as
- guarantees and sureties received
2. Contingent liabilities 22 624 25 392 18 666
2.1. To related entities as
- guarantees and sureties issued
2.2. To other entities as 22 624 25 392 18 666
- guarantees and sureties issued 22 624 25 392 18 666
3. Other (due to) 49 319 50 601 76 409
- promissory notes issued
- factoring
49 319 50 601 76 409
- interest -
Total off-balance sheet items 71 943 75 993 95 075
III)
P
ROFIT AND LOSS ACCOUNT FOR THE PERIOD FROM
1
J
ULY
2012
TO
31
D
ECEMBER
2012
PROFIT AND LOSS ACCOUNT Notes
PLN ‘000 from 01.07.2012 to 31.12.2012 from 01.07.2011 to 31.12.2011 I. Net revenues from the sale of products, goods and materials,,
of which: 1 853 613 1 440 417
- from related entities 91 559 66 062
Ul. Kościerzyńska 32, 51-416 Wrocław, Tel (+48 71) 3240 500, fax (+48 71) 32 40 529, 78 90 529, www.ab.pl 2. Net revenues from the sale of goods and materials 20 1 825 371 1 400 361 II. Costs of sold products, goods and materials,, of which: 1 819 476 1 369 556
- to related entities
1. Manufacture costs of sold products 21 28 196 39 919
2. Goods and materials sold 1 791 280 1 329 637
III. Gross profit (loss) on sale 34 137 70 861
IV. Costs of sale 21 14 345 17 388
V. Overheads 21 7 649 6 940
VI. Profit / (loss) on sales 12 143 46 533
VII. Other operating income 1 195 2 836
1. Profit on disposal of non-financial fixed assets
2. Other operating income 22 1 195 2 836
VIII. Other operating expenses 4 116 8 756
1. Loss on sale of non-financial fixed assets 13 15
2. Revaluation of non-financial assets 420 7
3. Other operating expenses 23 3 683 8 734
IX. Profit / (loss) on operations 9 222 40 613
X. Financial income 24 23 850 14 447
1. Dividends and profit distributions,, of which: 13 040 13 688
- from related entities 13 040 13 688
2. Interest,, of which: 482 758
- from related entities 192 102
3. Profit on disposal of investments
4. Revaluation of investments
5. Other 10 328 1
XI. Financial expenses 25 7 627 24 203
1. Interest, of which: 7 122 6 997
- to affiliated entities
2. Loss on disposal of investments
3. Revaluation of investments
4. Other 505 17 206
XII. Profit / (loss) on business operations 25 445 30 857
XIII. Net extraordinary item
1. Extraordinary profit
2. Extraordinary loss
XIV. Gross profit (loss) 25 445 30 857
XV. Income tax 26 2 484 3 436
a) current part 2 649 4 000
b) deferred part -165 -564
XVI. Other obligatory profit decrease (loss increase)
XVII. Share in net profit/loss of subsidiary entities consolidated
with equity rights
Net profit (loss) annualised
22 961 27 421
Weighted average number of ordinary shares (pcs.)
16 187 644 16 334 002 Profit / (loss) per ordinary share (PLN)
28 1.42 1.68
Diluted weighted average number of ordinary shares (pcs.)
Ul. Kościerzyńska 32, 51-416 Wrocław, Tel (+48 71) 3240 500, fax (+48 71) 32 40 529, 78 90 529, www.ab.pl
IV)
S
TATEMENT OF CHANGES IN EQUITY
STATEMENT OF CHANGES IN EQUITY
PLN ‘000 FROM 01.07.2012 to 31.12.2012 year ended 30.06.2012 from 01.07.2011 to 31.12.2011 I. Equity at the beginning of the period (OB) 290 744 256 940 256 940
a) changes in adopted accounting rules (policy) b) adjustments of manifest errors
I.a. Equity at the beginning of the period (opening
balance),after reconciliation to comparable data 290 744 256 940 256 940
1. Share capital at beginning of period 16 188 16 334 16 334
1.1. Changes to share capital -146
a) increases (due to)
- share issues
b) decreases (due to) 146
- redemption of shares 146
1.2. Share capital at end of period 16 188 16 188 16 334
2. Due contributions to the share capital at the beginning of
the period
2.1. Changes of due contributions to share capital
a) increases (due to)
b) decreases (due to)
2.2. Due contributions to the share capital at the end of the
period
3. Treasury shares at beginning of period -838 -838
3.1. Changes to treasury shares
a) increases (due to)
- purchase of treasury shares
- decreases (due to) 838
3.2. Treasury shares at end of period -838
4. Reserve capital at the beginning of the period 135 503 135 503 135 503
4.1. Changes of the reserve capital
a) increases (due to)
- share issue above par value
- profit distribution (statutory)
- profit distribution (in excess of the minimum statutory
value)
b) decreases (due to)
- costs of share issue
4.2. Reserve capital at the end of the period 135 503 135 503 135 503
5. Revaluation capital at the beginning of the period -355
5.1. Changes of the revaluation capital 2 234 -355 660
a) increases (hedging of cash flows) 2 234 660
b) decreases (due to) 355
- hedging accounting 355
5.2. Revaluation capital at the end of the period 1 879 -355 660
6. Other reserves at the beginning of the period 105 249 65 980 65 980
6.1. Changes of other reserves 34 158 39 269 39 961
- retained profit distribution 34 158 39 961 39 961
b) decreases - share redemption 692
6.2. Other reserves at the end of the period 139 407 105 249 105 941
7. Retained profit (loss) at beginning of period 34 158 39 961 39 961
7.1. Retained profit at the beginning of the period 34 158 39 961 39 961
a) changes in adopted accounting rules (policy)
b) adjustments of manifest errors
7.2. Retained profit at the beginning of the period 34 158 39 961 39 961
a) increase (due to)
- retained profit distribution
b) decreases (due to)
34 158 39 961 39 961
- dividend for distribution
- increase of reserve capital
34 158 39 961 39 961
- dividend distribution
7.3. Retained profit at the end of the period
7.4. Accumulated loss at the beginning of the period
- changes to applied accounting rules (policies)
- adjustment of manifest errors
7.5. Accumulated loss at the beginning of the period after
reconciliation to comparable data
a) increases (due to)
- transfer of accumulated loss for coverage
b) decreases (due to)
7.6. Retained loss at the end of the period
7.7. Retained profit (accumulated loss) at the end of the
period
8. Net result 22 961 34 159 27 421
a) net profit 22 961 34 159 27 421
b) net loss
c) profit write-offs
II. Equity at end of period (CB) 315 938 290 744 285 021
III. Equity after suggested profit distribution (loss coverage)
Ul. Kościerzyńska 32, 51-416 Wrocław, Tel (+48 71) 3240 500, fax (+48 71) 32 40 529, 78 90 529, www.ab.pl
V) C
ASH FLOW STATEMENT
CASH FLOW STATEMENT
PLN ‘000 from 01.07.2012 to 31.12.2012 from 01.07.2011 to 31.12.2011
A. Cash flows from operating activities
(indirect method) 22 961 27 421
I. Net profit (loss) -3 601 -43 682
II. Total adjustments
1. Share in net profit (loss) of subsidiary companies 2 981 3 413
2. Depreciation / amortisation 2 272 -274
3. FX (gain)/loss 5 408 4 904
4. Interest and profit distributions (dividend) 13 15
5. (Profit)/loss on investments 697 4 740
6. Change in provisions -35 991 -23 511
7. Change to inventories -83 855 -155 492
8. Change to receivables 105 296 123 350
9. Change to short-term liabilities, excepting loans
-422 -827
10. Change to accruals
11. Other adjustments 19 360 -16 261
III. Net cash flows from operating activities (I+/-II) – indirect method
I. Inflows 70 31
1. Disposal of intangible assets and of tangible fixed assets 2. Disposal of investments in properties and intangible assets
2 658 2 369
3. Of financial assets, of which: 2 200 2 360
a) in related entities - disposal of financial assets
- dividend and profit distributions 2 200 2 360
- repayment of long-term loans granted - interest
- other inflows from financial assets 458 9
b) in other entities
- disposal of financial assets
- dividend and profit distributions 458 9
- repayment of long-term loans granted
- interest
- other inflows from financial assets
4. Other investment inflows 1 542 2 170
II. Outflows 1 359 1 509
1. Purchase of intangible assets and of tangible fixed assets 2. Investments in properties and intangible assets
3. On financial assets, of which: 234 a) in related entities
- purchase of financial assets 234
- long-term loans granted 183 427
b) in other entities
- purchase of financial assets 183 427
- long-term loans granted
4. Other investment outflows 1 186 230
III. Net cash flows from investing activities (I-II)
I. Inflows
1. Net inflows from issues of shares and other equity instruments
and additional contributions to capital 14 049
2. Credits and loans
3. Issue of debt securities
4. Other financial inflows 23 405 4 731
II. Outflows
1. Purchase of treasury shares
2. Dividend and other distributions to shareholders
3. Other profit distributions
17 997
4. Repayment of credits and loans
5. Redemption of debt securities
6. Other financial liabilities
7. Payments under financial leasing 5 408 4 731
8. Interest
9. Other financial outflows -23 405 9 318
III. Net cash flows from financing activities (I-II) -2 859 -6 713
D. Total net cash flows (A.III+/-B.III+/-C.III) -2 859 -6 713
E. Balance-sheet change in cash, including:
- change in cash due to FX differences 11 269 9 389
F. Cash at the beginning of the period 8 410 2 676
G. Cash at the end of the period (F+/-D), including:
Ul. Kościerzyńska 32, 51-416 Wrocław, Tel (+48 71) 3240 500, fax (+48 71) 32 40 529, 78 90 529, www.ab.pl
VI)
A
DDITIONAL NOTES AND EXPLANATIONS
1. EXPLANATORY NOTES TO THE BALANCE SHEET
1.1.
Note 1a – Intangible Assets
INTANGIBLE ASSETS PLN ’000 as at 31.12.2012 year ended 30.06.2012 as at 31.12.2011 a) development costs b) goodwill
c) acquired concessions, patents, licences and similar
assets, of which: 597 545 1 348
- computer software 597 545 1 348
d) other intangible assets e) advances to intangible assets
Total intangible assets 597 545 1 348
1.2.
Note 1b – Intangible assets (ownership structure)
INTANGIBLE ASSETS (OWNERSHIP STRUCTURE)
PLN ’000 as at 31.12.2012 year ended
30.06.2012 as at 31.12.2011
a) owned by the Company 597 545 1 348
b) used pursuant to rental, lease or similar contract, including leasing, of which:
1.3.
Note 1c – Changes of the value of intangible assets (by group types)
CHANGES OF THE VALUE OF INTANGIBLE ASSETS a b c d e
Total intangible assets
(BY GROUP TYPE) AS AT 31.12.2012
Development
costs Goodwill
Concessions, patents, licences and similar assets, of which:
Other intangible assets Advances for intangible assets PLN ’000 computer software
a) gross intangible assets at the beginning of the period 496 5 767 5 767 6 263
b) increases (title) 389 389 389
- purchase of software 389 389 389
c) decreases (title)
- liquidation of software
- transfer to software
d) gross intangible assets at the end of the period 496 6 156 6 156 6 652 e) cumulated depreciation at the beginning of the period 496 5 222 5 222 5 718
f) depreciation for the period (due to) 337 337 337
- increase 337 337 337
- decrease
g) cumulated depreciation at the end of the period 496 5 559 5 559 6 055 h) impairment write-offs at the beginning of the period
- increases
- decreases
i) impairment write-offs at the end of the period
1.4.
Note 2a - Tangible fixed assets
TANGIBLE FIXED ASSETS
PLN ‘000 as at 31.12.2012 year ended
30.06.2012 as at 31.12.2011
a) fixed assets, of which: 56 185 57 808 59 226
- land (including perpetual usufruct right) 1 785 1 797 1 808
- buildings, premises and civil engineering facilities 44 723 43 375 45 992
- plant and equipment 1 529 1 681 1 792
- motor vehicles 4 744 5 087 4 928
- other fixed assets 3 404 3 868 4 706
b) fixed assets under construction 539 515 322
- advances for fixed assets under construction
Total tangible fixed assets 56 724 58 323 59 548
1.5.
Note 2b – Tangible fixed assets (ownership structure)
TANGIBLE FIXED ASSETS (OWNERSHIP STRUCTURE)
PLN ‘000 as at 31.12.2012 year ended
30.06.2012 as at 31.12.2011
a) owned by the Company 56 724 58 323 59 548
b) used pursuant to rental, lease or similar contract, including leasing, of which:
- vehicle leasing
1.6. Note 2c - Change in fixed assets (by type)
CHANGE IN FIXED ASSETS(BY GROUP TYPE)
- land (including perpetual usufruct right) - buildings, premises and civil engineering facilities - Plant and equipment - motor vehicles - other fixed assets - Total fixed assets PLN ‘000
a) gross fixed assets at the beginning of the period 1 981 51 343 3 842 9 689 11 898 78 753
b) increases (title) 101 449 552 1 102 - purchase 101 449 552 1 102 - accounting of investments c) decreases (title) 118 298 416 - sales 118 298 416 - liquidation
d) gross fixed assets at the end of the period 1 981 51 343 3 825 9 840 12 450 79 439 e) cumulated depreciation at the beginning of the period 184 5 968 2 163 4 602 8 030 20 947 f) depreciation for the period (due to) 12 652 133 494 1 016 2 307
- increases 12 652 231 733 1 016 2 644
- decreases 98 239 337
g) cumulated depreciation at the end of the period 196 6 620 2 296 5 096 9 046 23 254 h) impairment write-offs at the beginning of the period
- increases
- decreases
i) impairment write-offs at the end of the period j) net fixed assets at the end of the period 1 785 44 723 1 529 4 744 3 404 56 185
1.7.
Note 3a – Change to status of properties (by type)
CHANGE TO PROPERTIES (BY TYPE)
PLN ‘000 as at 31.12.2012 year ended
30.06.2012 as at 31.12.2011
a) beginning of the period: 452 452 452
-
b) increases (title)
- purchase of land
c) decreases (title)
-
d) end of the period: 452 452 452
-
1.8.
Note 3b – Long-term financial assets
LONG-TERM FINANCIAL ASSETS
PLN ‘000 as at 31.12.2012 year ended 30.06.2012 as at 31.12.2011 a) in subsidiary entities 115 849 115 849 117 433 - shares 115 849 115 849 108 849 - debt securities
- other securities (by type)
- loans granted 548 2 748 8 584
b) in other entities 467
- loans granted 467
- other long-term financial assets (by type)
Total long-term financial assets 116 397 118 597 117 900
1.9.
Note 3c – Change to long-term financial assets (by type)
CHANGE TO LONG-TERM FINANCIAL ASSETS (BY TYPE)
PLN ‘000
as at 31.12.2012 year ended 30.06.2012 as at 31.12.2011
a) beginning of the period: 118 597 119 599 119 599
- stocks and shares 115 849 108 849 108 849
- loans granted 2 748 10 750 10 750
b) increases (title) 8 398 661
- stocks and shares 7 000
- loans granted 1 398 661
c) decreases (title) 2 200 9 400 2 360
- sale of stocks or shares - revaluation charge
d) end of the period: 116 397 118 597 117 900
- stocks and shares 115 849 115 849 108 849
1.10.
Note 3d - Shares in subsidiaries
SHARES OR STOCK IN SUBSIDIARIES AS AT 31.12.2012PLN ‘000
No.
a b c d e f g h i j k l
Name and legal form
Registered
office Business objects
Relationship (subsidiary,
co-controlled, associated entity, with details of direct
and indirect relationship) Applied consolidation method / valuation with equity rights or information that the entity is not consolidated / valued with equity rights date when control / co-control was assumed / major impact was acquired Value of shares at purchase price Adjustments to value (total) book value of shares Percentage of share capital held Share in overall number of votes at GM Base of control / co-control / major impact other than specified in j) or k) 1 Alsen Sp. z o.o. Chorzów marketing services, trade subsidiary full 30.05.2006 204 204 69 69 2 AT Computes Holding a.s. Ostrava, Czech Republic marketing services, trade subsidiary full 30.10.2007 104 645 104 645 100 100 3 Alsen Marketing Sp. z o.o. Chorzów marketing services, trade subsidiary full 22.12.2008 1000 1 000 100 100 4 B2B IT Sp. z o.o. Wrocław logistics services subsidiary full 02.11.2009 10 000 10 000 100 100
1.11.
Note 3e - Shares in subsidiaries
N o. m n o p r s Name of entityEquity of the unit, including: liabilities and liability provisions, of which: Receivables, of which:
Total assets sales revenues Unpaid shares in entity - share capital - Called up share capital not paid (negative value) - Reserve capital
- Other equity, of which: - Long-term liabilities - Short-term liabilities - Long-term receivables Retaine d profit (accum ulated loss) Net profit (loss) 1 Alsen Sp. z o.o. 317 294 62 -39 -18 -21 46 46 161 363 85 2 AT Computes Holding a.s. 135 750 1 036 134 714 118 675 16 039 419 067 419 067 310 388 554 817 1 049 790 3 Alsen Marketing Sp. z o.o. 3 756 1 000 995 1 761 1 524 237 8 564 8 564 9 952 12 320 51 858 4 B2B Sp. z o.o. 8 782 10 000 -1 218 -1 022 -196 2 965 2 965 244 11 747 0
1.12.
Note 3f – Securities, interests and other long-term financial assets
SECURITIES, INTERESTS AND OTHER LONG-TERM FINANCIAL ASSETS
(CURRENCY STRUCTURE) unit currency PLN ‘000 as at 31.12.2012 year ended 30.06.2012 as at 31.12.2011 a) in PLN ‘000 PLN 11 204 11 204 4 204
b) in foreign currencies (by currency and translated
into PLN)
b1. in original currency ‘000 CZK 779 000 779 000 779 000
translated into PLN ‘000 104 645 104 645 104 645
-
other currencies in PLN ‘000
Total securities, interests and other long-term
financial assets ‘000 PLN 115 849 115 849 108 849
1.13.
Note 3g – Securities, interests and other long-term financial assets (by
tradability)
SECURITIES, INTERESTS AND OTHER LONG-TERM FINANCIAL ASSETS (BY TRADABILITY)
PLN ‘000
as at 31.12.2012 year ended
30.06.2012 as at 31.12.2011
A.With unlimited tradability, listed (book value) 115 849 115 849 108 849 B. With limited tradability (book value)
a. shares (book value): 115 849 115 849 108 849
- adjustments to value (for the period)
- value at the beginning of period 115 849 108 849 108 849
- value at purchase price 115 849 108 849 108 849
Total value at purchase price 115 849 115 849 108 849
Total value at the beginning of period 115 849 108 849 108 849
Total adjustments to value (for the period)
Total book value 115 849 115 849 108 849
1.14.
Note 4a - Change of deferred income tax asset
CHANGE OF DEFERRED INCOME TAX ASSET
PLN ‘000 as at 31.12.2012 year ended
30.06.2012 as at 31.12.2011 1. Deferred income tax asset at beginning of period, of
which: 961 1 137 1 137
a) recognised in profit and loss account 878 1 137 1 137
b) charged to equity 83
c) recognised in goodwill or negative goodwill
2. Increases 895 961 1 702
a) recognised in profit and loss account for the period in
connection with temporary negative differences (due to) 895 878
- balance-sheet valuation of settlements 166
- overheads on salaries and salaries disbursed in the
subsequent period 114
- provisions for market charges 380 268 1 486
- tax cost for other periods 515 496 50
- provision for net price
b) charged to equity 83
3. Decreases 961 1 137 1 137
a) recognised in profit and loss account for the period in
connection with temporary negative differences (due to): 878 1 137 1 137
- Settlement of temporary differences, of which: 878 1 137 1 137
-> balance-sheet valuation of settlements 133 133
-> overheads on salaries from previous periods 114 370 370
-> tax cost for other periods 496 9 9
-> provisions for market charges 268 625 625
-> provision for net price
b) charged to equity 83
4. Deferred income tax asset at end of period, of which: 895 961 1 702
a) recognised in profit and loss account 895 878 1 702
- provision for net price
- provisions for market charges 380 268 1 486
- tax cost for other periods 515 496 50
- balance-sheet valuation of settlements 166
- overheads on salaries and salaries disbursed in the
subsequent period 114
Ul. Kościerzyńska 32, 51-416 Wrocław, Tel (+48 71) 3240 500, fax (+48 71) 32 40 529, 78 90 529, www.ab.pl
1.15.
Note 5a – Inventories
INVENTORIES PLN ‘000 as at 31.12.2012 year ended 30.06.2012 as at 31.12.2011 a) materials 211 218 564b) semi-finished products and production in progress c) finished products
d) goods 311 071 275 467 245 041
e) advances for deliveries 989 595 233
Total inventories 312 271 276 280 245 838
1.16.
Note 6a – Short-term receivables
SHORT-TERM RECEIVABLES
PLN ‘000
as at 31.12.2012 year ended 30.06.2012 as at 31.12.2011
a) from related entities 27 818 7 590 29 807
- trading receivables, due: 14 778 7 590 16 119
- up to 12 months 7 590 16 119
- above 12 months
- other 13 040 13 688
- claimed at court
b) receivables from other entities 372 030 308 403 360 129
- trading receivables, due: 363 056 300 923 352 990
- up to 12 months - above 12 months
- taxes, subsidies, duties, social and health insurance
and other benefits 8 660 7 068 6 773
- other 314 412 366
- claimed at court
Total net short-term receivables 399 848 315 993 389 936
c) revaluation charges of receivables 9 675 9 372 10 410
Total gross short-term receivables 409 523 325 365 400 346
1.17.
Note 6b – Short-term receivables from related entities
SHORT-TERM RECEIVABLES FROM RELATED ENTITIES
PLN ‘000 as at 31.12.2012 year ended
30.06.2012 as at 31.12.2011
a) trade payables, of which: 14 778 7 590 16 119
- from subsidiaries 14 778 7 590 16 119
b) other (dividend) 13 040 13 688
c) revaluation charges of receivables from related entities
Total gross short-term receivables from related entities 27 818 7 590 29 807
1.18.
Note 6c – Change to revaluation charge to short-term receivables
CHANGE TO REVALUATION CHARGE TO SHORT-TERM RECEIVABLES
PLN ‘000 as at 31.12.2012 year ended
30.06.2012 as at 31.12.2011
Opening balance 9 372 10 917 10 917
a) increase (due to) 419 7 7
- established for receivables 419 7 7
b) decreases (due to) 116 1 552 514
- application 332 115
- reversal (repayment) 116 1 220 399
Change to revaluation charge to short-term
receivables at end of period 9 675 9 372 10 410
1.19.
Note 6d – Gross short-term receivables (currency structure)
GROSS SHORT-TERM RECEIVABLES
(CURRENCY STRUCTURE) unit
currenc y PLN ‘000 as at 31.12.2012 year ended 30.06.2012 as at 31.12.2011 a) in PLN ’000 PLN 372 871 289 070 348 478
b) in foreign currencies (by currency and translated into
PLN) ’000 PLN 36 652 36 295 51 868
b1. in original currency ‘000 USD 2 853 2 943 2 372
translated into PLN ‘000 8 844 9 973 8 105
b2. in original currency ‘000 EUR 6 802 6 177 9 908
translated into PLN ‘000 27 808 26 322 43 763
b2. in original currency ‘000 CZK
translated into PLN ‘000
other currencies in PLN ‘000 ‘000 PLN
Total short-term receivables ‘000 PLN 409 523 325 365 400 346
1.20.
Note 6e – Trade receivables (gross) – with remaining period from the
balance sheet date
TRADE RECEIVABLES (GROSS) – WITH REMAINING PERIOD FROM THE BALANCE SHEET
DATE PLN ‘000 as at 31.12.2012 year ended 30.06.2012 as at 31.12.2011 a) up to 1 month 263 963 184 848 245 684 b) 1 - 3 months 105 885 90 391 117 541 c) 3 - 6 months 11 22 084 7
Ul. Kościerzyńska 32, 51-416 Wrocław, Tel (+48 71) 3240 500, fax (+48 71) 32 40 529, 78 90 529, www.ab.pl d) 6 months - 1 year
e) above 1 year
f) past due receivables 9 824 12 787 8 566
Total gross trade receivables 379 683 310 110 371 798
g) revaluation charges of trade receivables 1 849 1 597 2 689
Total net gross trade receivables 377 834 308 513 369 109
All the above repayment periods of receivables are in line with normal sales of the Company.
1.21.
Note 6f – Overdue trade receivables (gross) – split by overdue periods
OVERDUE TRADE RECEIVABLES (GROSS) – SPLIT BY OVERDUE PERIODS
PLN ‘000 as at 31.12.2012 year ended 30.06.2012 as at 31.12.2011 a) up to 1 month 9 496 9 250 3 426 b) 1 - 3 months 328 3 537 5 140 c) 3 - 6 months d) 6 months - 1 year e) above 1 year
Total overdue gross trade receivables 9 824 12 787 8 566
f) revaluation charges of overdue trade receivables 1 849 1 597 2 689
Total net overdue gross trade receivables 7 975 11 762 5 877
1.22.
Nota 7a – Disputed and overdue receivables
The value of disputed receivables (claimed in court) as at 31 December 2012 amounted to TPLN
7 826 and was fully covered with revaluation write-downs.
1.23.
Note 8a – Short-term financial assets
SHORT-TERM FINANCIAL ASSETS
PLN ‘000 as at 31.12.2012 year ended 30.06.2012 as at 31.12.2011 a) in related entities - loans granted b) in other entities 391 493 275 - shares
- dividend and other profit distributions - debt securities
- other securities (by type)
- loans granted 218 493 1
