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Ab Kauno Energija Set of Consolidated AB KAUNO ENERGIJA SET OF CONSOLIDATED AND PARENT COMPANY’S FINANCIAL STATEMENTS FOR THE YEAR, ENDED 31 DECEMBER 2012, PREPARED ACCORDING TO INTERNATIONAL FINANCIAL REPORTING STANDARDS, AS ADOPTED BY THE EUROPEAN UNION, PRESENTED TOGETHER WITH CONSOLIDATED ANNUAL REPORT AND INDEPENDENT AUDITOR’S REPORT AB KAUNO ENERGIJA, Company‘s code 235014830, Raudondvario Rd. 84, Kaunas, Lithuania CONTENT Translation note This set of Consolidated and Parent Company’s Financial Statements presented together with Consolidated Annual Report and Independent Auditor’s Report has been prepared in Lithuanian language and in English language. In all matters of interpretations of information, views or opinions, the Lithuanian language version of these documents takes precedence over the English version. Page INDEPENDENT AUDITOR’S REPORT…………………………………………….. 3 – 4 SET OF CONSOLIDATED AND PARENT COMPANY’S FINANCIAL STATEMENTS FOR THE YEAR 2011....................................................................... 5 – 53 Statements of Financial Position............................................................................ 5 – 6 Statements of Comprehensive Income................................................................... 7 Statements of Changes in Equity............................................................................ 8 Statements of Cash flows........................................................................................ 9 – 10 Notes to the Financial Statements........................................................................... 11 – 53 CONSOLIDATED ANNUAL REPORT………………………………………………. 54 – 123 AB KAUNO ENERGIJA, Company‘s code 235014830, Raudondvario Rd. 84, Kaunas, Lithuania CONSOLIDATED AND PARENT COMPANY’S FINANCIAL STATEMENTS FOR THE YEAR 2012 (all amounts are in LTL thousand unless otherwise stated) Statements of Financial Position Group Company As of 31 As of 31 As of 31 As of 31 December December December December Notes 2012 2011 2012 2011 ASSETS Non-current assets Intangible assets 3 204 305 204 299 Property, plant and equipment 4 Land and buildings 26,577 27,673 25,220 26,259 Structures and machinery 307,592 295,319 307,602 295,336 Vehicles 413 259 441 242 Equipment and tools 11,605 11,880 11,563 11,813 Construction in progress and prepayments 2,198 998 2,198 998 Total property, plant and equipment 348,385 336,129 347,024 334,648 Non-current financial assets Investments into subsidiary 1 - - 4,754 5,341 Non-current accounts receivable 5 45 43 45 43 Other financial assets 6 433 95 433 95 Total non-current financial assets 478 138 5,232 5,479 Total non-current assets 349,067 336,572 352,460 340,426 Current assets Inventories and prepayments Inventories 7 4,246 4,746 4,155 4,622 Prepayments 396 405 409 475 Total inventories and prepayments 4,642 5,151 4,564 5,097 Current accounts receivable 8 Trade receivables 23 82,086 58,994 81,981 58,907 Other receivables 6,094 5,602 6,094 5,740 Total accounts receivable 88,180 64,596 88,075 64,647 Cash and cash equivalents 9,23 5,332 5,936 5,308 5,899 Total current assets 98,154 75,683 97,947 75,643 Total assets 447,221 412,255 450,407 416,069 (cont’d on the next page) 5 AB KAUNO ENERGIJA, Company‘s code 235014830, Raudondvario Rd. 84, Kaunas, Lithuania CONSOLIDATED AND PARENT COMPANY’S FINANCIAL STATEMENTS FOR THE YEAR 2012 (all amounts are in LTL thousand unless otherwise stated) Statements of Financial Position (cont’d) Group Company As of 31 As of 31 As of 31 As of 31 December December December December Notes 2012 2011 2012 2011 EQUITY AND LIABILITIES Equity Share capital 1 256,392 256,392 256,392 256,392 Legal reserve 10 1,307 635 1,307 635 Other reserve 10 2,584 3,468 2,584 3,468 Retained earnings (deficit) Profit for the current year 1,196 13,540 837 13,442 Profit (loss) for the prior year (284) (3,353) 3,061 90 Total retained earnings (deficit) 912 10,187 3,898 13,532 Total equity 261,195 270,682 264,181 274,027 Liabilities Non-current liabilities Non-current borrowings 11,23 33,746 32,169 33,746 32,169 Financial lease obligations 12,23 67 - 67 - Deferred tax liability 21 8,110 6,771 8,798 7,440 Grants (deferred income) 13 26,546 22,211 26,546 22,211 Employee benefit liability 14 2,173 1,671 1,996 1,671 Other non-current liabilities 23 192 23 192 Total non-current liabilities 70,665 63,014 71,176 63,683 Current liabilities Current portion of non-current borrowings and financial lease 11,12,23 8,533 11,305 8,533 11,295 Current borrowings 11,23 27,631 7,765 27,631 7,765 Trade payables 23 72,865 54,927 72,897 55,000 Payroll-related liabilities 2,011 1,978 1,825 1,758 Advances received 878 953 878 946 Taxes payable 1,071 102 1,038 70 Derivative financial instruments 15 204 333 204 333 Current portion of employee benefit liability 14 1,124 735 1,003 735 Other current liabilities 1,044 461 1,041 457 Total current liabilities 115,361 78,559 115,050 78,359 Total liabilities 186,026 141,573 186,226 142,042 Total equity and liabilities 447,221 412,255 450,407 416,069 (the end) The accompanying notes are an integral part of these financial statements, General Manager Rimantas Bakas 29 March 2013 Chief Accountant Violeta Staškūnienė 29 March 2013 6 AB KAUNO ENERGIJA, Company‘s code 235014830, Raudondvario Rd. 84, Kaunas, Lithuania CONSOLIDATED AND PARENT COMPANY’S FINANCIAL STATEMENTS FOR THE YEAR 2012 (all amounts are in LTL thousand unless otherwise stated) Statements of Comprehensive Income Group Company Notes 2012 2011 2012 2011 Income Sales income 16 369,723 309,345 369,462 308,622 Other operating income 18 2,091 2,343 1,908 1,846 Total income 371,814 311,688 371,370 310,468 Expenses Fuel and heat acquired (296,717) (233,756) (296,717) (233,756) Salaries and social security (22,827) (22,334) (22,078) (21,412) Depreciation and amortisation 3,4 (15,879) (15,888) (15,879) (15,842) Repairs and maintenance (5,948) (5,703) (5,948) (5,703) Write-offs and change in allowance for accounts receivable 5,8 (5,896) (2,189) (6,210) (2,189) Taxes other than income tax (5,073) (4,312) (5,043) (4,286) Electricity (2,574) (2,515) (2,565) (2,504) Raw materials and consumables (1,857) (1,962) (1,766) (1,847) Maintenance of heating and hot water systems - (463) (388) (1,026) Water (1,172) (1,160) (1,170) (1,156) Change in write-down to net realisable value of inventories 7 (644) (999) (644) (999) Other expenses 17 (10,252) (10,661) (10,210) (10,541) Other activities expenses 18 (1,193) (1,334) (723) (677) Total expenses (370,032) (303,276) (369,341) (301,938) Profit 1,782 8,412 2,029 8,530 Finance income 19 2,463 8,001 2,463 8,001 Finance costs 20 (1,710) (1,653) (2,297) (1,869) Finance cost, net 753 6,348 166 6,132 Profit before income tax 2,535 14,760 2,195 14,662 Income tax 21 (1,339) (1,220) (1,358) (1,220) Net profit 1,196 13,540 837 13,442 Total comprehensive income 1,196 13,540 837 13,442 Profit attributable to the shareholders 1,196 13,540 837 13,442 Basic and diluted earnings per share (LTL) 22 0,03 0,32 0,02 0,31 The accompanying notes are an integral part of these financial statements. General Manager Rimantas Bakas 29 March 2013 Chief Accountant Violeta Staškūnienė 29 March 2013 7 AB KAUNO ENERGIJA, Company‘s code 235014830, Raudondvario Rd. 84, Kaunas, Lithuania CONSOLIDATED AND PARENT COMPANY’S FINANCIAL STATEMENTS FOR THE YEAR 2012 (all amounts are in LTL thousand unless otherwise stated) Statements of Changes in Equity Retained earnings Share Legal Other (accumulated Group Notes capital reserve reserve deficit) Total Balance as of 31 December 2010 256,392 448 - 302 257,142 Transferred to reserves 10 - 187 3,468 (3,655) - Total comprehensive income - - - 13,540 13,540 Balance as of 31 December 2011 256,392 635 3,468 10,187 270,682 Transferred from reserves 10 - - (3,468) 3,468 - Transferred to reserves 10 - 672 2,584 (3,256) - Dividends 1 - - - (10,683) (10,683) Total comprehensive income - - - 1,196 1,196 Balance as of 31 December 2012 256,392 1,307 2,584 912 261,195 Retained earnings Share Legal Other (accumulated Company Notes capital reserve reserve deficit) Total Balance As of 31 December 2010 256,392 448 - 3,745 260,585 Transferred to reserves 10 - 187 3,468 (3,655) - Total comprehensive income - - - 13,442 13,442 Balance as of 31 December 2011 256,392 635 3,468 13,532 274,027 Transferred from reserves 10 - - (3,468) 3,468 - Transferred to reserves 10 - 672 2,584 (3,256) - Dividends 1 - - - (10,683) (10,683) Total comprehensive income - - - 837 837 Balance as of 31 December 2012 256,392 1,307 2,584 3,898 264,181 The accompanying notes are an integral part of these financial statements. General Manager Rimantas Bakas 29 March 2013 Chief Accountant Violeta Staškūnienė 29 March 2013 8 AB KAUNO ENERGIJA, Company‘s code 235014830, Raudondvario Rd. 84, Kaunas, Lithuania CONSOLIDATED AND PARENT COMPANY’S FINANCIAL STATEMENTS FOR THE YEAR 2012 (all amounts are in LTL thousand unless otherwise stated) Statements of Cash Flows Group Company 2012 2011 2012 2011 Cash flows from (to) operating activities Net profit 1,196 13,540 837 13,442 Adjustments for non-cash items: Depreciation and amortisation 18,371 17,916 18,286 17,778 Write-offs and change in allowance for accounts receivable 5,913 2,206 6,227 2,206 Interest ехpenses 1,496 1,466 1,496 1,465 Change in fair value of derivatives (129) (146) (129) (146) Loss (profit) from sale and write-off of property, plant and equipment and value of the shares (413) 205 (412) 205 Income tax expenses 1,339 1,220 1,358 1,220 (Amortisation) of grants (deferred income) (1,163) (896) (1,163) (896) Change in write-down to net realisable value
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