EASTPHARMA LTD. Interim Consolidated Financial Statements For The Six Month Period Ended
30 June 2017
EV
----
Building a better working world
Giiney Bag1ms1z Denetim ve SMMM A.S.
Maslak Mahaltesi Eski Biiyukdere Cad. Orjin Maslak Plaza Na: 27Sanyer 34485
Istanbul - Tiirkiye
Tel:+90 212 315 3000
Fax: +90 212 230 8291
ey.com
Ticaret S,cit Na479920
Report on review of interim consolidated financial statements To the shareholders of Eastpharma Ltd
Introduction
We have reviewed the accompanying interim consolidated financial statements of Eastpharma Ltd (the "Companf) and its subsidiaries (altogether referred to as "the Group") as at 30 June 2017, comprising of the interim consolidated statement of financial position as at 30 June 2017 and the related interim consolidated statements of income,comprehensive income, changes in equity and cash flows for the six month period then ended and explanatory notes. Management is responsible for the preparation and fair presentation of these interim consolidated financial statements in accordance with International Accounting Standard IAS 34Interim Financial Reporting ("IAS 34").Our responsibility is to express a conclusion on these interim consolidated financial statements based on our review.
Scope of review
We conducted our review in accordance with International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". 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 than an audit conducted in accordance with International Standards on Auditing. Consequently, it 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 come to our attention which may cause us to conclude that the accompanying interim consolidated financial information of Eastpharma Ltd does not give a true and fair view of financial position and financial performance of the Company as of June 30, 2017, and its cash flows for the six-month period then ended in accordance with the International Accounting Standard 34,Interim Financial Reporting Standard 34 ("IAS 34").
,iN
ynt!fllg'(Jtlwlll'f .,
Partnet •.1-
·.· '• eT
..., .... 4·'
August 1 0.:1-:.r::·
Istanbul,Turkey
A mombetfitmolEmst& Young Glcl>olurutDd
ASSETS CURRENT ASSETS | Notes | Period Reviewed 30 June 2017 | Period Audited 31 December 2016 |
Cash and cash equivalents | 5 | 20,454,289 | 12,462,273 |
Trade and other receivables (net) | 6 | 67,297,122 | 57,767,783 |
Inventories | 8 | 61,086,613 | 57,623,093 |
Other current assets | 9 | 8,873,560 | 9,716,228 |
Total Current Assets | 157,711,584 | 137,569,377 | |
NON-CURRENT ASSETS | |||
Property, plant and equipment (net) | 10 | 98,815,937 | 96,302,594 |
Intangible assets (net) | 11 | 88,736,698 | 82,027,442 |
Goodwill | 12 | 79,465,028 | 79,461,742 |
Deferred tax assets | 18 | 1,350,760 | 1,902,871 |
Other non-current assets | 9 | 61,532 | 51,466 |
Total Non-Current Assets | 268,429,955 | 259,746,115 | |
TOTAL ASSETS | 426,141,539 | 397,315,492 |
LIABILITIES AND EQUITY CURRENT LIABILITIES | Notes | Period Reviewed 30 June 2017 | Period Audited 31 December 2016 |
Short-term borrowings | 14 | 66,782,256 | 43,431,468 |
Trade payables | 15 | 19,240,576 | 14,170,274 |
Due to related parties | 7 | 4,872 | 17,796 |
Provisions | 17 | 888,399 | 849,510 |
Other payables and accrued expenses | 16 | 15,021,547 | 14,542,247 |
Current tax payable | 18 | 1,465,468 | 836,294 |
Total Current Liabilities | 103,403,118 | 73,847,589 | |
NON-CURRENT LIABILITIES | |||
Long-term borrowings | 14 | 46,033,981 | 64,093,488 |
Provision for employment termination benefits | 19 | 5,530,872 | 4,846,340 |
Deferred income | 16 | 5,922,430 | 4,796,881 |
Total Non-Current Liabilities | 57,487,283 | 73,736,709 | |
TOTAL LIABILITIES | 160,890,401 | 147,584,298 | |
EQUITY | |||
Share capital | 21 | 338,250,000 | 338,250,000 |
Premium in excess of par | 21 | 99,774,445 | 99,774,445 |
Legal reserves | 21 | 1,215,248 | 1,215,248 |
Accumulated losses | (32,716,904) | (44,043,428) | |
Actuarial loss arising from defined benefit plans | (2,018,321) | (1,897,804) | |
Foreign currency translation reserve | (216,788,422) | (219,339,023) | |
Equity attributable to equity holders of the parent | 187,716,046 | 173,959,438 | |
Non-controlling interests | 77,535,092 | 75,771,756 | |
Total Equity | 265,251,138 | 249,731,194 | |
TOTAL LIABILITIES AND EQUITY | 426,141,539 | 397,315,492 |
Eastpharma Ltd. published this content on 10 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 10 August 2017 17:55:06 UTC.
Original documenthttp://www.eastpharmaltd.com/assets/file/Consolidated%20Financial%20Results%2030%20June%202017.pdf
Public permalinkhttp://www.publicnow.com/view/62084E0B89DC67C65557FDA97DBC3A483CFA498D
