Integer pl : CONSOLIDATED FINANCIAL STATEMENTS of Integer.pl SA Capital Group for 2012

Integer.pl SA Capital Group CONSOLIDATED FINANCIAL STATEMENTS of Integer.pl SA Capital Group for 2012 - Kraków, 26 April 2013- CONTENTS:

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 4

CONSOLIDATED STATEMENT OF FINANCIAL POSITION 6

CONSOLIDATED STATEMENT OF CASH FLOWS 7

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 9

NOTES TO FINANCIAL STATEMENTS 10

1. Notes to financial statements 10

2. About the parent company 10

3. About the Capital Group 11

4. Composition of the Capital Group 12

5. Functional currency and reporting currency 14

6. Statement of compliance and basis of preparation of the financial statements 14

7. Principal accounting policies adopted by the Capital Group: 16

8. Going concern assumption 16

9. Basis of preparation 16

1. Foreign currency transactions and measurement of items denominated in foreign currencies 17

2. Tangible fixed assets (property, plant and equipment) 17

3. Borrowing costs 18

4. Goodwill 18

5. Intangible assets 19

6. Internally generated intangible assets - development costs 19

7. Impairment 20

8. Financial instruments 20

9. Inventories 21

10. Trade and other receivables 22

11. Cash and cash equivalents 22

12. Interest-bearing borrowings and debt securities 22

13. Provisions 22

14. Leases 23

15. Revenue 23

16. Sale of goods and products 23

17. Rendering of services 23

18. Interest 23

19. Dividends 23

20. Government grants 23

21. Income tax 24

22. Net earnings per share 24

10. Significant accounting judgements and estimates 24

11. Business segments 26

12. Revenues and expenses 26

13. Revenues from sales 26

14. Revenues from sale of key products and services 27

15. Geographical areas 27

16. Major customers 27

1. Other operating revenues 27

2. Other operating expenses 28

3. Financial revenues 28

4. Financial expenses 28

5. Gains/losses on financial instruments 28

6. Depreciation of property, plant and equipment and amortisation of intangible assets, charges recognised in the separate statement of comprehensive income 28

6.11 Employee benefits expense 29

17. Income tax 31

18. Earnings per share 33

19. Dividends paid and proposed 34

20. Tangible fixed assets (property, plant and equipment) 35

21. Goodwill 37

22. Intangible assets 38

23. Assets pledged as collateral 40

24. Investments in subsidiaries 40

25. Other financial assets 41

26. Inventories 41

27. Trade and other receivables 42

28. Cash and cash equivalents 43

29. Share capital 43

30. Supplementary capital 45

31. Retained earnings 45

32. Statutory reserve capital created to cover losses 46

33. Capital risk management 46

34. Financial leverage 46

35. Interest-bearing borrowings (credits and loans) 46

36. Bond liabilities 47

37. Other long-and short-term financial liabilities 47

38. Valuation of CIRS derivative instruments 47

39. Provisions, prepayments and accruals 48

40. Trade and other payables (short-term) 50

41. Sureties granted 50

42. Guarantees 50

43. Court proceedings 50

44. Related parties 52

45. Acquisition of subsidiaries 53

46. Remuneration of senior executives 54

47. Financial instruments by class 54

48. Financial instruments by category 55

49. Financial risk management objectives 55

50. Currency risk management 56

51. Government subsidies 58

52. Non-monetary transactions 60

53. Employment structure 60

54. Remuneration of the certified auditor 61

55. Significant events in 2012 61

56. Events after the reporting period 65

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(in PLN '000)

Note	01.01.2012 - 31.12.2012	01.01.2011 - 31.12.2011
Revenues from sales	6.1	281 925	248 960
Other operating revenues	6.5	69 925	8 544
Depreciation and amortisation	6.10	18 681	14 373
Materials and energy consumption	19 576	5 999
External services	150 515	142 677
Taxes and fees	2 793	1 453
Salaries	6.11	37 753	35 319
Social security and other benefits	6.11	5 338	3 645
Other expenses by type	6 954	4 043
Value of goods and materials sold	44 141	18 840
Other operating expenses	6.6	9 925	2 717
Total operating expenses	295 676	229 066
Operating profit (loss)	56 174	28 438
Financial revenues	6.7	12 225	3 912
Financial expenses	6.8	19 562	8 637
Profit (loss) before tax	48 837	23 713
Income tax	7	1 643	859
Net profit (loss) from continuing operations	47 194	22 854
Net profit (loss) from discontinued operations
Net profit (loss)	47 194	22 854
Exchange differences on translating foreign operations	(1 217)
Total comprehensive income	45 977	22 854