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Annual Report Financial Tables Material Disclosure

Financial Tables

 
Financial Statements for the period ended 31.12.2007 (IFRS) and notes

 

Prepared in Accordance with International Financial Reporting Standards (IFRS)

TO THE BOARD OF DIRECTORS OF
ANADOLU ISUZU OTOMOTİV SANAYİ VE TİCARET ANONİM ŞİRKETİ

Introduction

We have reviewed the accompanying financial statements of ANADOLU ISUZU OTOMOTİV SANAYİ VE TİCARET ANONİM ŞİRKETİ (“the Company”), which comprise the consolidated balance sheet as at September 30, 2007 and the income statement, statement of changes in equity and cash flow statement for the nine -month then ended, and a summary of significant accounting policies and other explanatory notes. Management is responsible for the preparation and fair presentation of these financial statements in accordance with financial reporting standards published by Capital Markets Board (CMB). Our responsibility is to express a conclusion on this interim financial statements based on our audit.

Scope of Review

We conducted our review in accordance with the auditing standards published by Capital Markets Board (CMB) applicable for limited review engagements . A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope then an audit conducted in accordance wtih the auditing standandars published by Capital Markets Board and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has to come to our attention that causes us to believe that the accompanying interim financial information does not give a true and fair view of the financial position of ANADOLU ISUZU OTOMOTİV SANAYİ VE TİCARET ANONİM ŞİRKETİ as at December 31, 2007 , and of its financial performance and its cash flows for the nine –month ended in accordance with the financial reporting standards published by Capital Markets Board. ( İstanbul, 12.11.2007 )

AGD BAĞIMSIZ DENETİM VE DANIŞMANLIK S.M.M.M. A.Ş.

 
BALANCE SHEET (YTL)    
Audited Audited
ASSETS Notes 31.12.2007 31.12.2006
Current Assets
253.134.656 211.589.324
   Cash and Cash Equivalents
4 83.689.542 48.391.208
   Marketable Securities (net)
5 257.773 464.389
   Trade Receivables (net)
7 90.052.582 52.188.333
   Financial Leasing Receivables (net)
8 0 0
   Receivables from Related Parties    (net)
9 4.676.845 2.605.433
   Other Receivables (net) 10 2.390.140 3.674.647
   Alive Assets (net) 11 0 0
   Inventories (net) 12 62.677.694 94.460.239
   Receivables From Construction
   Contracts In- Progress (net)
13 0 0
   Deferred Tax Assets 14 0 0
   Other Current Assets 15 9.390.080 9.805.075
 
Non-Current Assets 68.201.046 78.658.724
   Trade Receivables (net) 7 98.647 595.951
   Financial Leasing Receivables (net) 8 0 0
   Receivables 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 65.127.798 75.040.622
   Intangible Fixed Assets (net) 20 629.666 671.729
   Deferred Tax Assets 14 0 0
   Other Non-Current Assets 15 42 5.529
TOTAL ASSETS 321.335.702 290.248.048

     
Audited Audited
LIABILITIES (YTL) Notes 31.12.2007 31.12.2006
I. Short Term Liabilities   112.157.298 89.879.201
   Financial Liabilities (net)
6 14.983.176 18.867.889
   Principal and Interest Payments
   of Long-Term Financial Liabilities (net)
6 0 0
   Financial Leasing Liabilities (net)
8 0 0
   Other Financial Liabilities (net)
10 0 0
   Trade Payables (net)
7 33.240.407 26.678.730
   Due to Related Parties (net)
9 39.782.051 28.507.716
   Advances Received 21 1.104.629 53.513
   Advances Received For
   Construction Contracts In-Progress (net)
13 0 0
   Provision For Expenses and Liabilities 23 13.784.450 9.949.968
   Deferred Tax Liabilities 14 0 0
   Other Liabilities (net) 15 9.262.585 5.821.385
Long Term Liabilities
  9.535.747 11.008.030
   Finance Liabilities (net)
6 0 0
   Financial Leasing Liabilities (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 Received 21 0 0
   Provision For Expenses and Liabilities 23 6.481.154 5.754.956
   Deferred Tax Liability 14 1.979.892 4.161.850
   Other Liabilities (net)
15 1.074.701 1.091.224
MINORITY INTEREST 24 10.120 9.112
SHAREHOLDERS' EQUITY
199.632.537 189.351.705
Share capital 25 25.419.707 16.946.471
Cross-Shareholding Capital Adjustment 25 0 0
Capital Reserves 26 115.283.962 123.611.347
   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
115.283.961 123.611.346
Retained Earnings 26-27 33.722.454 25.262.158
   Legal Reserves 11.235.250 8.479.030
   Statutory Reserves 0 0
   Extraordinary Reserves 21.037.814 15.187.885
   Special Reserves 1.449.390 1.449.390
   Income From Sales of Subsidiary Shares
   and Fixed Assets Held for Addition
   to Share capital
0 145.853
   Foreign Currency Translation Differences 0 0
Net Profit/(Loss) For The Period 26-28 25.206.414 23.531.729
Previous Years' Profit/Loss   0 0
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES 321.335.702 290.248.048

CONSOLIDATED STATEMENT  OF INCOME (YTL) Notes  
Audited Audited
31.12.2007
31.12.2006
OPERATING INCOME      
Sales (net) 36 473.605.304 401.501.927
Cost of Sales (-) 36 (388.763.262) (324.606.218)
Income From Services (Rendered) (net) 36 0 0
Other Operating Income /
interest+divident
+rent (net)
36 0 0
GROSS PROFIT/(LOSS)   84.842.042 76.895.709
Operation Expenses (-) 37 (59.397.370) (52.996.426)
NET OPERATING PROFIT/(LOSS)   25.444.672 23.899.283
Other Operating Income and Profit 38 23.004.689 17.281.008
Other Operating Expenses and Losses (-) 38 (15.912.848) (14.277.576)
Financial Expenses   (-) 39 (1.190.252) (1.295.168)
PROFIT/(LOSS)   31.346.261 25.607.547
Profit/(Loss) On Net Monetary Position 40 0 0
PROFIT / (LOSS) BEFORE MINORITY INTEREST 24 (1.008) (1.439)
PROFIT/(LOSS) BEFORE TAX   31.345.253 25.606.108
Taxes 41 (6.138.839) (2.074.379)
NET PERIOD PROFIT /(LOSS)   25.206.414 23.531.729
NET EARNING PER SHARE 42 0,99 1,39

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY


Audited

Registered Share Capital Inflation Adjustment Differences of Shareholders' Equity Total
Paid İn Capital
Legal & Extraordinary Reserves Special Reserves
As of 01.01.2006 16.946.471 95.229.263 112.175.734 40.388.592
-
Transfer of Previous Year's Profit - - -
13.108.990
-
Capital Increase - - - - -
Income From Sales of Subsidiary Shares and Fixed Assets Held for Addition to Share capital - - - - 145.853
Dividend Paid - - - - -
Period Profit - - - - -
As of 31.12.2006 16.946.471 95.229.263 112.175.734 53.497.582
145.853
Audited          
As of 01.01.2007 16.946.471 95.229.263 112.175.734 53.497.582
145.853
Transfer of Previous Year's Profit - - - 8.606.147 -
Capital Increase
8.473.236
(8.327.383)
145.853
-
(145.853)
Income From Sales of Subsidiary Shares and Real-Estate Held for Addition to Share Capital - -
0
- -
Dividend Paid - -
0
- -
Period Profit - -
0
- -
As of 31.12.2007
25.419.707
86.901.880
112.321.587
62.103.729
0
 
CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY

Audited
Share Premium Minority Interest Previous Years'
Profits & Losses
Period Profit TOTAL EQUITY
As of 01.01.2006 807 - 32.616.629 - 185.181.762
Transfer of Previous Year's Profit - -
(13.108.990)
-
0
Capital Increase - - - -
0
Income From Sales of Subsidiary Shares and Fixed Assets Held for Addition to Share capital - - - -
145.853
Dividen Paid - -
(19.507.639)
- (19.507.639)
Period Profit - - - 23.531.729 23.531.729
As of 31.12.2006 807
0
0
23.531.729 189.351.705
Audited          
As of 01.01.2007 807 - 23.531.729 - 189.351.705
Transfer of Previous Year's Profit - - (8.606.147) - -
Capital Increase - - - - -
Income From Sales of Subsidiary Shares and Real-Estate Held for Addition to Share Capital - - - - -
Divident Paid - -
(14.925.582)
- (14.925.582)
Period Profit - - - 25.206.414 25.206.414
As of 31.12.2007 807 - 0 25.206.414 199.632.537
 

CONSOLIDATED CASH FLOW STATEMENT

31.12.2007

31.12.2006
Cash Flow From Operating Activities    
Net Profit / (Net Loss) 25.206.414 23.531.729
Adjustments to Reconcile Net Earnings To Cash Flow    
   Depreciation 11.969.173 12.234.820
   Amortization 254.296 212.973
   Provision For Termination Indemnity 726.198 827.777
   Taxes 6.138.839 2.074.379
   Provision For Doubtful Receivables (785) 634.777
   Provision For Diminutionin Value Of Subsidiaries 0 0
   Provision For Interest Income (405.348) (123.747)
   Provision For Interest Expenses 376.776 263.889
   Income/Expense Not Causing Fund Inflow 3.158.485 3.083.999
   Profit / Net From Sales of Fixed Assets 538.694 162.449
Net Operating Profit Before Increase/(Decrease) in Assets and Liabilities: 47.962.742 42.903.045
Increase/(Decrease) in Assets and Liabilities:    
Net (Increase)/Decrease in Trade Receivables (37.203.164) 16.479.042
Net (Increase)/Decrease in Receivables From Related Parties (2.071.412) (2.319.201)
Net (Increase)/Decrease in Inventories 31.782.545 (32.707.066)
Net (Increase)/Decrease in Other Current Assets 2.104.850 2.912.050
Net (Increase)/Decrease in Other Non-Current Assets 5.487 (5.529)
Net (Increase)/Decrease in Trade Payables 6.561.677 2.657.565
Net (Increase)/Decrease in Payables to Related Parties 11.274.335 15.348.199
Net (Increase)/Decrease in Other Payables 2.855.699 (14.142.064)
Taxes Paid (6.186.694) (10.968.173)
Termination Indemnities Paid - -
Net Cash Inflow Provided/(Used) From Operating Activities: 57.086.065 20.157.868
Investment Activities:    
Disposal/(Acquisition) of Financial Assets Ready to Sale    
Tangible Fixed Assets Acquisition (2.595.042) (4.008.196)
Intangible Fixed Assets Acquisition (212.233) (171.216)
Increase in Other Non-Current Assets   0
Net Cash Used in Investing Activities: (2.807.275) (4.179.412)
Financial Activities:    
Dividend Paid
(14.925.582)
(19.507.639)
Interest Paid (628.904)  
Interest Received    
Net Increase/(Decrease) in Bank Loans (3.632.585) 18.604.000
Inflation Effects    
Net Cash Provided From / (Used in) Financial Activities (19.187.071) (903.639)
Net Increase in Cash and Cash Equivalents 35.091.719 15.074.817
Cash and Cash Equivalents, Beginning of Period 48.855.597 33.780.780
Inflation Effect 0 0
Cash and Cash Equivalents, End Of the Period 83.947.315 48.855.597
 

The accompanying policies and explanatory notes are an integral part of the consolidated financial statements.

Notes About The Financial Tables I
Notes About The Financial Tables II
Notes About The Financial Tables III