LIBET GROUP
consolidated financial statements
for the period of 12 months ended on 31 December 2015
CONSOLIDATED PROFIT AND LOSS STATEMENT AND COMPREHENSIVE INCOME STATEMENT 3
CONSOLIDATED STATEMENT OF FINANCIAL POSITION 4
CONSOLIDATED CASH FLOW STATEMENT 6
CONSOLIDATED STATEMENT ON CHANGES IN EQUITY 7
EXPLANATORY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS AT 31 DECEMBER 2015 8
General Information 8
LIBET Group's description 8
The composition of the Management Bard and Supervisory Bard 8
Approval of the financial statements 9
Basis of preparation of consolidated financial statements 9
Segment information 10
Significant accounting policies applied 10
Significant values based on a professional assessment and estimates 22
Estimates uncertainty 22
Change in estimates 23
Correction of errors of previous periods and changes in the accounting principles 23
Revenue and costs 25
Income tax relating to continued operations 27
Property, plant and equipment 30
Fixed assets classified as held for sale 32
Intangible assets 32
Stock 34
Trade receivables 34
Cash and cash equivalents 34
Other assets 35
Other Liabilities 36
Employee benefits 36
Share capital and other capitals 37
Provisions 40
Investment liabilities 40
Contingent liabilities and assets 40
Tax settlements 40
Information on related entities 41
Hedge accounting 42
Financial instruments 42
Financial risk management objectives and purposes 49
LIBET GROUP
consolidated financial statements for the period of 12 months ended on 31 December 2015
CONSOLIDATED PROFIT AND LOSS STATEMENT AND COMPREHENSIVE INCOME STATEMENT
State as at
31.12.2014*
Period ended on
31.12.2015
for the period of 12 months ended on 31 December 2015 Continued operationsSales revenue
269,723
286,553
Costs of sales
(223,093)
(220,486)
Gross profit on sales
46,630
66,067
Selling costs
(25,929)
(37,370)
Cost of general management
(11,490)
(13,197)
Other operating revenue
8,556
2,777
Other operating expenses
(8,511)
(9,264)
Operating profit
9,256
9,013
Financial revenue
262
226
Financial expenses
(7,298)
(6,051)
Profit before tax
2,220
3,188
Income tax
(1,959)
(7,401)
Discontinued operations
Net profit (loss) from discontinued operations
0
0
Net profit (loss) from continued operations
261
(4,214)
Net profit (loss) for the financial year
261
(4,214)
Other comprehensive income
Items that may be taken to result
0
Change in the value of hedging instruments
0
(3,538)
Income tax on other comprehensive income
0
672
Items that may be taken to total result
0
(2,866)
Items that will not be taken to result
0
0
Items that may be taken to total result
0
0
Total other net comprehensive income
0
(2,866)
Total comprehensive income for the financial year
261
(7,080)
Net profit (loss) for the financial year
261
(4,214)
Attributed to parent company's shareholders
261
(4,214)
Comprehensive income for financial year
261
(7,080)
Attributed to parent company's shareholders
261
(7,080)
Weighted average number of shares*
50,000
50,000
Profit per share (in PLN)
Basic from profit of the financial year attributed to shareholders of the
0.01
(0.08)
parent company
Basic from continued operations attributed to shareholders of the parent company
0.01
(0.08)
Diluted from profit of the financial year attributed to shareholders of the
0.01
(0.08)
parent company
Diluted from continued operations attributed to shareholders of the parent
0.01
(0.08)
company
*retrospectively restated data according to IAS 8, in relation to the amendment in the accounting principles Detailed changes are presented in Note 11.
LIBET GROUP
consolidated financial statements for the period of 12 months ended on 31 December 2015
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2015NO
STATEMENT OF FINANCIAL POSITION
State as at 31.12.2014*
State as at 31.12.2015
ASSETS
I
I.1
Non-current assets
Property, plant and equipment
206,586
203,737
I.2
Intangible assets
55,971
52,541
I.3
Assets available for sale
0
0
I.4
Other assets
4,536
12,919
I.5
Deferred tax assets
9,600
4,067
II
Total non-current assets Current assets
276,692
273,264
II.1
Stock
71,033
76,071
II.2
Trade receivables
36,528
34,952
II.3
Loans and own receivables
0
0
II.4
Current tax assets
0
439
II.5
Other assets
17,837
15,776
II.6
Other financial assets
0
0
II.7
Cash and cash equivalents
886
696
II.8
Assets classified as held for sale
0
0
Total current assets
126,284
127,935
TOTAL ASSETS
402,976
401,199
*retrospectively restated data according to IAS 8, in relation to the amendment in the accounting principles Detailed changes are presented in Note 11.
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