Financial Statement URSUS for the I Quarter 2018
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CONDENSED CONSOLIDATED FINANCIAL STATEMENT OF THE CAPITAL GROUP URSUS for the I quarter 2018 (for the period from 1 January 2018 till 31 March 2018) LUBLIN 25 May 2018 Condensed Financial Statement for the I quarter 2018 1. CONSOLIDATED FINANCIAL STATEMENT FOR THE I QUARTER 2018 1.1. SELECTED FINANCIAL DATA IN THOUS. PLN AND IN THOUS. EUR ON A COMPOUND BASIS FOR THE I QUARTER 2018 in thous. PLN in thous. EUR I quarter I quarter I quarter I quarter SELECTED FINANCIAL DATA period from period from period from period from 2018-01-01 to 2017-01-01 to 2018-01-01 to 2017-01-01 to 2018-03-31 2017-03-31 2018-03-31 2017-03-31 Data concerning the condensed co nsolidated financial statement according IAS/IFRS Net revenue from sales of products, trade goods and 43 510 72 280 10 413 16 852 materials Profit (loss) from operating activity 2 487 6 468 595 1 508 Gross profit (loss) -1 941 4 986 -465 1 163 Net profit (loss) -1 740 3 840 -416 895 Net profit (loss) atributable to shareholders in the -1 475 3 606 -353 841 parent company Net cash flow from operating activity -4 488 -49 845 -1 074 -11 622 Net cash flow from investment activity 2 073 -3 247 496 -757 Net cash flow from financial activity 1 395 26 120 334 6 090 Total net cash flow -1 020 -26 972 -244 -6 289 As of As of As of As of Amounts at the end of the period s: 31.0 3.201 8 31.12.201 7 31.0 3.201 8 31.12.201 7 Current assets 266 708 249 464 63 374 59 811 Tangible assets 144 320 146 180 34 293 35 048 Total assets 411 028 395 644 97 666 94 858 Long-term liabilities 43 611 44 116 10 363 10 577 Short-term liabilities 261 873 244 244 62 225 58 559 Equity 105 544 107 284 25 079 25 722 Share capital 59 180 54 180 14 062 12 990 Weighted average number of shares (in pcs) 59 180 000 54 180 000 59 180 000 54 180 000 Net profit per share in (PLN) and (EUR) -0,025 0,071 -0,025 0,071 net profit / weighted average number of shares Book value per ordinary share in (PLN) and (EUR) 1,78 1,98 1,78 1,98 equity / weighted average number of shares Data concerning the financial statement according IAS/IFRS Net revenue from sales of products, trade goods and 36 508 77 103 8 737 17 977 materials Profit (loss) from operating activity 1 936 7 129 463 1 662 Gross profit (loss) -2 230 5 764 -534 1 344 Net profit (loss) -2 230 4 579 -534 1 068 Net cash flow from operating activity 11 736 -42 785 2 809 -9 976 Net cash flow from investment activity -3 581 -3 847 -857 -897 Net cash flow from financial activity -8 783 19 948 -2 102 4 651 Total net cash flow -628 -26 684 -150 -6 221 As of As of As of As of Amounts at the end of the period s: 31.0 3.201 8 31.12.201 7 31.0 3.201 8 31.12.201 7 Current assets 221 563 234 142 52 647 56 137 Tangible assets 146 802 142 780 34 882 34 232 Total assets 368 365 376 922 87 529 90 369 2 Condensed Financial Statement for the I quarter 2018 Long-term liabilities 37 152 37 401 8 828 8 967 Short-term liabilities 204 805 210 883 48 665 50 561 Equity 126 408 128 638 30 036 30 842 Share capital 59 180 54 180 14 062 12 990 -0,04 0,08 -0,04 0,08 Weighted average number of shares (in pcs) Net profit per share in (PLN) and (EUR) 2,14 2,37 2,14 2,37 net profit / weighted average number of shares Items of the statement of financial position at the end of the I quarter 2018 – 4,2085 PLN/EUR Items of the statement of financial position at the end of the 2017 – 4,1709 PLN/EUR Items of the statements of total income and cash flows for the I quarter 2018 – 4,1784 PLN/EUR Items of the statements of total income and cash flows for the I quarter 2018 – 4,2890 PLN/EUR Source: Management Board of the Issuer 3 Condensed Financial Statement for the I quarter 2018 1.2. CONSOLIDATED REPORT ON THE FINANCIAL SITUATION Period ended Period ended 31.0 3.201 8 31.12.201 7 ASSETS in thous. PLN in thous. PLN Fixed assets 144 320 146 180 Tangible fixed assets 95 852 97 123 Investment properties 11 192 11 192 Goodwill 4 252 4 349 Other intangible assets 15 326 16 019 Deferred tax assets 702 501 Long-term receivables 16 960 16 960 Stocks and shares 36 36 Current assets 266 708 249 464 Inventory 189 462 182 262 Short-term investments 8 759 Trade receivables and other 75 671 63 856 Cash and their equivalents 1 528 2 548 Assets for sale 39 39 TOTAL ASSETS 411 028 395 644 Period ended Period ended 31.0 3.201 8 31.12.201 7 LIABILITIES in thous. PLN in thous. PLN Equity 105 544 107 284 Share equity 59 180 59 180 Capital from issuance of shares above face value 64 998 64 998 Other capital -144 -144 Retained profits -16 882 -15 407 Non-controlling interests -1 608 -1 343 Long – term liabilities 43 611 44 116 Credits and loans 26 098 26 630 Other financial liabilities 8 324 8 475 Long-term provisions 750 750 Other liabilities 8 439 8 260 Short – term liabilities 261 873 244 244 Trade liabilities and other 130 184 120 223 Credits and loans 123 935 115 563 Other financial liabilities 2 115 2 833 Short-term provisions 3 489 3 495 Accruals 2 150 2 129 TOTAL LIABILITIES 411 028 395 644 Source: Management Board of the Issuer 4 Condensed Financial Statement for the I quarter 2018 1.3. CONSOLIDATED REPORT ON TOTAL INCOME For the period For the period 01.01.201 8-31.0 3.201 8 01.01.201 7-31.0 3.201 7 in thous. PLN in thous. PLN Continued activity Revenues from sales 43 510 72 280 Own expenses of sale 30 225 54 557 Gross profit/loss from sales 13 285 17 723 Other operating revenues 845 1 074 Sale costs 3 726 4 939 General and administrative costs 7 023 6 586 Other operating costs 894 804 Operating profit/ loss 2 487 6 468 Financial revenues 20 1 054 Financial costs 4 448 2 536 Profit/loss before income tax -1 941 4 986 Income tax -201 1 146 Net profit/loss of continued activity -1 740 3 840 Net profit per share (zł) -0,02 0,07 Book value per share (zł) 1,78 1,98 Total profit atributable to: - non- controlling shares -265 234 -shareholders of the parent company -1 475 3 606 Source: Management Board of the Issuer 5 Condensed Financial Statement for the I quarter 2018 1.4. CONSOLIDATED REPORT ON CASH FLOWS For the period For the period 01.01.2018- 01.01.2017- 31.0 3.201 8 31.0 3.201 7 in thous. PLN in thous. PLN Operating activity Net profit -1 740 3 840 Ad justments in the positions: -2 748 -53 685 Amortization and depreciation 2 811 2 157 Interest and profit sharing (dividend) 1 230 861 Profit (loss) on investment activities -73 10 Change in provisions -7 -24 Change in inventory -7 200 -9 486 Change in receivables -8 445 -32 435 Change in short-term liabilities excluding credits and loans 9 243 -14 205 Change in prepayments and accruals -307 -563 Net cash flows from operating activities -4 488 -49 845 Investment activities Inflows from sale of tangible fixed assets 69 8 Other investment inflows 2 541 0 Purchase of tangible fixed assets 537 255 Purchase of financial assets and other 0 3 000 Net cash flows from investments 2 073 -3 247 Financial activities Net inflows from issuance of shares 0 400 Inflows from credit and loans 15 655 34 799 Repayment of credits and loans 12 300 8 681 Payment of liabilities arising from financial leases 712 789 Interests paid 1 248 659 Other inflows from financial activities 1 050 Net cash flows from financial activity 1 395 26 120 Balance sheet change in cash, including: -1 020 -26 972 Cash opening balance 2 548 29 746 Cash closing balance 1 528 2 774 Source: Management Board of the Issuer 6 Condensed Financial Statement for the I quarter 2018 1.5. CONSOLIDATED REPORT ON CHANGES IN EQUITY Reserve Reserve capitals capital from (capital Non- Share Other Retained shares sale from controlling Total equity capital capitals profits above their revaluati interests nominal value on) As of 1 January 2017 (after adjustment) 54 180 57 498 0 - 4 37 4 3 952 3 615 114 871 Increase : 0 0 0 4 230 3 606 234 8 070 Result of the current period 0 0 0 0 3 606 234 3 840 Reserve capitals (from 4 230 revaluation) 0 0 0 0 0 4 230 Decrease: 0 0 0 0 189 0 189 Other resetve capitals 0 0 0 0 189 0 189 As of 31 March 2017 54 180 57 498 0 -144 7 369 3 849 12 2 752 As of 1 January 2018 59 180 64 998 0 -144 - 15 407 - 1 343 107 284 Increase : 0 0 0 0 - 1 475 0 - 1 475 Result of the current period 0 0 0 0 - 1 475 0 - 1 475 Decrease : 0 0 0 0 0 - 265 - 265 Non -controlling interests 0 0 0 0 0 -265 -265 As of 31 March 201 8 59 180 64 998 0 - 144 - 16 882 - 1 608 105 544 Source: Management Board of the Issuer 2.