Financial Statements for the period ended 31.12.2006 (IFRS) and notes
|
Prepared in Accordance
with International Financial Reporting Standards (IFRS)
|
| |
| CONSOLIDATED
BALANCE SHEET (YTL) |
|
Independent
Audit |
| Audited |
Audited |
| ASSETS |
Footnote
References |
31.12.2006 |
31.12.2005 |
Current Assets
|
|
211.589.324 |
181.798.582 |
Cash and Cash Equivalents
|
4 |
48.391.208 |
32.952.928 |
Marketable Securities (net)
|
5 |
464.389 |
827.852 |
Trade Receivables (net)
|
7 |
52.188.333 |
69.710.372 |
Financial Leasing Receivables
(net)
|
8 |
0 |
0 |
Due From Related Parties
(net)
|
9 |
2.605.433 |
286.232 |
| Other Receivables (net) |
10 |
3.674.647 |
8.412 |
| Alive Assets (net) |
11 |
0 |
0 |
| Inventories (net) |
12 |
94.460.239 |
61.753.173 |
Receivables From Consruction
Contracts
In- Progress (net)
|
13 |
0 |
0 |
| Deferred Tax Assets |
14 |
0 |
0 |
| Other Current Assets |
15 |
9.805.075 |
16.259.613 |
| |
| Non-Current Assets |
|
78.658.724 |
86.406.430 |
| Trade Receivables (net) |
7 |
595.951 |
64.209 |
| Financial Lease Receivables
(net) |
8 |
0 |
0 |
| Due From Related Parties
(net) |
9 |
0 |
0 |
| Other Receivables (net) |
10 |
0 |
0 |
| Financial Assets (net) |
16 |
3.898 |
3.898 |
| Positive/Negative Goodwill
(net) |
17 |
2.340.995 |
2.340.995 |
| Real Estate Properties with
Investment Purposes (net) |
18 |
0 |
0 |
| Tangible Fixed Assets (net) |
19 |
75.040.622 |
83.283.842 |
| Intangible Fixed Assets
(net) |
20 |
671.729 |
713.486 |
| Deferred Tax Assets |
14 |
0 |
0 |
| Other Non-Current Assets |
15 |
5.529 |
0 |
| TOTAL ASSETS |
|
290.248.048 |
268.205.012 |
| |
|
Independent
Audit |
| Audited |
Audited |
| LIABILITIES (YTL) |
Footnote
References |
31.12.2006 |
31.12.2005 |
| I. Short Term Liabilities |
|
89.879.201 |
68.165.667 |
Financial Liabilities (net)
|
6 |
18.867.889 |
0 |
Principal and Interest Payments
of Long-Term Financial Liabilities (net)
|
6 |
0 |
0 |
Financial Lease Payables (net)
|
8 |
0 |
0 |
Other Financial Liabilities (net)
|
10 |
0 |
0 |
Trade Payables (net)
|
7 |
26.678.730 |
24.021.166 |
Due to Related Parties (net)
|
9 |
28.507.716 |
13.159.517 |
| Advances Taken |
21 |
53.513 |
7.393.222 |
Advances Received For
Construction Contracts In-Progress (net) |
13 |
0 |
0 |
| Provision For Expenses and Liabilities |
23 |
9.949.968 |
16.436.401 |
| Deferred Tax Liabilities |
14 |
0 |
0 |
| Other Liabilities (net) |
15 |
5.821.385 |
7.155.361 |
Long Term Liabilities
|
|
11.008.030 |
14.849.910 |
Finance Liabilities (net)
|
6 |
0 |
0 |
Financial Lease Payables (net)
|
8 |
0 |
0 |
Other Financial Liabilities (net)
|
10 |
0 |
0 |
| Trade Payables (net) |
7 |
0 |
0 |
| Due to Related Parties (net) |
9 |
0 |
0 |
| Advances Taken |
21 |
0 |
0 |
| Provision For Expenses and Liabilities |
23 |
5.754.956 |
4.927.179 |
| Deferred Tax Liability |
14 |
4.161.850 |
8.831.357 |
Other Liabilities (net)
|
15 |
1.091.224 |
1.091.374 |
| MINORITY INTEREST |
24 |
9.112 |
7.673 |
SHAREHOLDERS' EQUITY
|
|
189.351.705 |
185.181.762 |
| Share capital |
25 |
16.946.471 |
16.946.471 |
| Elimination Adjustments |
25 |
0 |
0 |
| Capital Reserves |
26 |
123.611.347 |
123.611.347 |
| Share Premiums |
|
0 |
0 |
| Profit From Invalidation of Shares |
|
1 |
1 |
| Fixed Assets Revaluation Fund |
|
0 |
0 |
| Financial Assets Revaluation Fund |
|
0 |
0 |
Inflation Adjustment Differences
of Shareholders’ Equity |
|
123.611.346 |
123.611.346 |
| Retained Earnings |
26-27 |
25.262.158 |
12.007.315 |
| Legal Reserves |
|
8.479.030 |
4.817.192 |
| Statutory Reserves |
|
0 |
0 |
| Extraordinary Reserves |
|
15.187.885 |
5.740.733 |
| Special Reserves |
|
1.449.390 |
1.449.390 |
Income From Sales of Subsidiary Shares
and Fixed Assets Held for Addition
to Share capital |
|
145.853 |
0 |
| Foreign Currency Translation Differences |
|
0 |
0 |
| Net Profit/(Loss) For The Period |
26-28 |
23.531.729 |
32.616.629 |
| Previous Years’ Profit/Loss |
|
0 |
0 |
| TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES |
|
290.248.048 |
268.205.012 |
| CONSOLIDATED
INCOME STATEMENT (YTL) |
Footnote
References |
|
| Audited |
Audited |
| 31.12.2006 |
31.12.2005 |
| OPERATING INCOME |
|
|
|
| Sales (net) |
36 |
401.501.927 |
399.008.829 |
| Cost of Sales (-) |
36 |
(324.606.218) |
(313.201.202) |
Income From Services
Sold (net) |
36 |
0 |
0 |
Other Operating Income /
interest+dividend
+rent (net) |
36 |
0 |
0 |
| GROSS PROFIT/(LOSS) |
|
76.895.709 |
85.807.627 |
| Operation Expenses (-) |
37 |
(52.996.426) |
(42.467.107) |
| NET OPERATION PROFIT/(LOSS) |
|
23.899.283 |
43.340.520 |
| Income and Profit From Other Operations |
38 |
17.281.008 |
15.726.772 |
| Expense and Loss From Other Operations (-) |
38 |
(14.277.576) |
(12.458.679) |
| Financial Expenses (-) |
39 |
(1.295.168) |
(493.761) |
| PROFIT/(LOSS) |
|
25.607.547 |
46.114.852 |
| Profit/(Loss) On Net Monetary Position |
40 |
0 |
0 |
| PROFIT/(LOSS) MINORITY INTEREST |
24 |
(1.439) |
(394) |
| PROFIT/(LOSS) BEFORE TAX |
|
25.606.108 |
46.114.458 |
| Taxes |
41 |
(2.074.379) |
(13.497.829) |
| NET PROFIT/(LOSS) FOR THE PERIOD |
|
23.531.729 |
32.616.629 |
| NET EARNINGS PER SHARE |
42 |
1,39 |
1,92 |
| CONSOLIDATED
STATEMENT OF CASH FLOW |
31.12.2006 |
31.12.2005 |
| Cash flows from operating activities |
|
|
| Net Profit / (Net Loss) |
23.531.729 |
32.616.629 |
| Adjustments to reconcile net earnings to cash flows |
|
|
| Depreciation |
12.234.820 |
12.406.819 |
| Amortization |
212.973 |
327.846 |
| Provision For Termination Indemnitiy |
827.777 |
651.636 |
| Taxes |
2.074.379 |
13.497.829 |
| Provision for Doubtful Receivables |
634.777 |
174.999 |
| Provision for diminution in value of subsidiaries |
0 |
0 |
| Interest Income |
(123.747) |
67.692 |
| Provision for Interest Expenses |
263.889 |
0 |
| Income/Expense not Causing Fund Inflow |
3.083.999 |
235.415 |
| Profit / Net from sales of Fixed Assets |
162.449 |
131.327 |
| Net Operating Profit Before Increase/(Decrease) in Assets
and Liabilities: |
42.903.045 |
60.110.192 |
| Increase/(Decrease) in Assets and Liabilities: |
|
|
| Net (Increase)/Decrease in Trade Receivables |
16.479.042 |
(35.496.771) |
| Net (Increase)/Decrease in Receivables From Related Parties |
(2.319.201) |
1.773.624 |
| Net (Increase)/Decrease in Inventories |
(32.707.066) |
13.225.773 |
| Net (Increase)/Decrease in Other Current Assets |
2.912.050 |
952.011 |
| Net (Increase)/Decrease in Other Non-Current Assets |
(5.529) |
1.142 |
| Net Increase/(Decrease) in Trade Payables |
2.657.565 |
(902.778) |
| Net Increase/(Decrease) in Payables to Related Parties |
15.348.199 |
(19.523.790) |
| Net Increase/(Decrease) in Other Payables |
(14.142.064) |
8.232.533 |
| Taxes Paid |
(10.968.173) |
(15.990.988) |
| Termination Indemnities Paid |
- |
- |
| Net Cash Inflow Provided/(Used) From Operating Activities: |
20.157.868 |
12.380.948 |
| Investment Activities: |
|
|
| Disposal/(Acquisition) of Financial Assets ready to sale |
|
|
| Tangible Fixed Assets Acquisition |
(4.008.196) |
(2.287.137) |
| Intangible Fixed Assets Acquisition |
(171.216) |
(627.990) |
| Increase in Other Non-Current Assets |
|
0 |
| Net Cash Used By Investing Activities: |
(4.179.412) |
(2.915.127) |
| Financial Activities: |
|
|
| Dividend Paid |
(19.507.639) |
(20.774.563) |
| Interest Paid |
|
|
| Interest Received |
|
|
| Net Increase/(Decrease) in Bank Loans |
18.604.000 |
0 |
| Inflation Effects |
|
|
| Net Cash Provided From/(Used In) Financial Activities: |
(903.639) |
(20.774.563) |
| Net Increase in Cash and Cash Equivalents |
15.074.817 |
(11.308.742) |
| Cash and Cash Equivalents, Beginning of Period |
33.780.780 |
45.089.522 |
| Inflation Effect |
0 |
0 |
| Cash and Cash Equivalents, Ending of the Year |
48.855.597 |
33.780.780 |
