2015 AS MERKO EHITUS GROUP Consolidated Annual Report 01.01.2015 - 31.12.2015 Business name: AS Merko Ehitus Main activities: Holding companies General contracting of construction Real estate development Commercial Register No.: 11520257 Address: Järvevana tee 9G, 11314 Tallinn Postal address: Pärnu mnt 141, 11314 Tallinn Phone: +372 650 1250 Fax: +372 650 1251 E-mail:
[email protected] Web site: group.merko.ee Auditor: AS PricewaterhouseCoopers Supervisory Board: Toomas Annus, Teet Roopalu, Indrek Neivelt, Olari Taal Management Board: Andres Trink, Tõnu Toomik BRIEF OVERVIEW OF THE GROUP 5 STATEMENT OF THE CHAIRMAN OF THE MANAGEMENT BOARD 13 MANAGEMENT REPORT 14 MANAGEMENT DECLARATION 80 FINANCIAL STATEMENTS 81 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 81 CONSOLIDATED STATEMENT OF FINANCIAL POSITION 82 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 83 CONSOLIDATED CASH FLOW STATEMENT 84 NOTES 85 NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING NOTE 24 INTANGIBLE ASSETS 112 POLICIES 85 NOTE 25 LEASED ASSETS 113 NOTE 2 MANAGEMENT ESTIMATES 94 NOTE 26 BORROWINGS 114 NOTE 3 OPERATING SEGMENTS 96 NOTE 27 PAYABLES AND PREPAYMENTS 115 NOTE 4 COST OF GOODS SOLD 99 NOTE 28 PROVISIONS 116 NOTE 5 MARKETING EXPENSES 99 NOTE 29 OTHER LONG-TERM PAYABLES 116 NOTE 6 GENERAL AND ADMINISTRATIVE EXPENSES 99 NOTE 30 LOAN COLLATERALS AND PLEDGED ASSETS 116 NOTE 7 OTHER OPERATING INCOME 99 NOTE 31 SHARE CAPITAL 117 NOTE 8 OTHER OPERATING EXPENSES 99 NOTE 32 CONSTRUCTION CONTRACTS IN PROGRESS 118 NOTE 9 FINANCE INCOME 99 NOTE 33 RELATED PARTY TRANSACTIONS 118 NOTE 10