GENERA d.d. REPORT FOR THE FOURTH QUARTER 2009
4th Quarter 2009 Financial Report
1
GENERA d.d. REPORT FOR THE FOURTH QUARTER 2009
CONTENTS
I.MANAGEMENT REPORT
II.ABBREVIATED SET OF CONSOLIDATED AND INDIVIDUAL FINANCIAL STATEMENTS
Consolidated Balance Sheet as at 31 December 2009
Individual Balance Sheet as at 31030 December 2009
Consolidated Income Statement for the period from 1 October to 31 December 2009
Individual Income Statement for the period from 1 October to 31 December 2009
Consolidated Cash Flow Statement for the period from 1 January to 31 December 2009
Individual Cash Flow Statement for the period from 1 January to 31 December 2009
Consolidated Statement of Changes in Equity for the period from 1 January to 31December 2009..
Individual Statement of Changes in Equity for the period from 1 January to 31December 2009...11
III.NOTES WITH UNAUDITED INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMETNS FOR the fourth quarter 2009 12
IV.STATEMENTS OF PERSONS RESPONSIBLE FOR PREPARING THE REPORT
1
GENERA d.d. REPORT FOR THE FOURTH QUARTER 2009
I.MANAGEMENT REPORT
Total consolidated income for the fourth quarter 2009 increased by 11% compared to the previousyear and was HRK 37.9million. Consolidated gross profit was HRK 18.5 million, while in the same period last year gross loss was HRK -5.6 million.Consolidated operating loss for the fourth quarter was HRK - 7.5 million what represents 46% decrease in operating loss comparing to the same period in 2008. Operating loss in the fourth quarter was due to the seasonal nature of the business,and certain reduction in operating loss is the result of already mentioned profit increase as well as the efficient cost management (reduction of sales and distribution costs by as much as 27% in comparison to the same period in 2008).
The abbreviated set of financial statements for the fourth quarter 2009, including the notes, contains, to the best of Management Board’s knowledge, a true overview of business development and results, and the status of the Company as well as of the related companies included in the consolidation and is an integral part of this report.Within the legally defined time frame Genera d.d. will publish complete auditedindividual and consolidated financial statement for 2009.
Important events in the previous period
In related companies: Veterina d.o.o, Veterina Kalinova d.o.o., Veterina Nutricius, d.o.o., Vitamedera d.o.o. and Veterina usluge d.o.o., Veterina Polska SP. z.o.o., Veterina Plus d.o.o. and Genera Analitika d.o.o.there have not been any significant events that would significantly influence their financial position. Stable and successful operations are expected to continue in the following period.
Description of most important risks and uncertainties
The Company and the Group are most of all exposed to financial risks such as the risk ofexchange rate changes, credit risk, liquidity risk and interest rate risk.
The risk of exchange rate changes is a risk of changes in the value of financial instrumentsdue to exchange rate changes. The Company and the Group are mostly exposed to the riskof exchange rate changes inEuro.
The interest rate risk is a risk that interest rate costs of financial instruments will change during a given period. The Company and the Group have long-term and short-term liabilities for loans, for which variable interest rates are calculated, which exposes the Company and the Group to price risk and cash flow risk.
The credit risk is a risk that one party of a contractual relationship will not fulfil its obligations and will thus cause a financial loss to the other party. The Company and the Group have accepted a policy to do business only with companies that are credit-worthy and hold guarantees, which reduces the risk of incurring financial losses for failure to fulfil obligations.
The Company and the Group are not exposed to a greater credit risk when compared to their partners or client groups with similar characteristics.
The Company and the Group manage a liquidity risk in a way to ensure bank loans and to follow the predicted and actual cash flow comparing it with maturities of financial assets and liabilities.
Genera’s entire business activities are in line with risk insurance and management in the area of health, safety and environmental protection. All activities in the implementation of work safety are directed towards removal i.e. reduction of risk in line with national legislation.
The financial report for the fourth quarter 2009 will be available in Genera and at the Zagreb Stock Exchange, as well as published for the general public via HINA.
Ivan Drpić
President of the Board
Ana Hanžeković Čorak
Member of the Board
1
GENERA d.d. REPORT FOR THE FOURTH QUARTER 2009
II.ABBREVIATED SET OF CONSOLIDATED AND INDIVIDUAL FINANCIAL STATEMENTS
Consolidated Balance Sheet as at 31December 2009
Amounts in000 HRK
Position name1 / EDP
#
2 / Previous
period
3 / Current
Period
4
ASSETS
A) RECEIVABLES FOR SUBSCRIBED BUT NOT PAID-IN CAPITAL / 001
B) LONG-TERM ASSETS / 002 / 103.147 / 98.142
I. INTANGIBLE ASSETS / 003 / 1.510 / 1.811
II. PROPERTY, PLANT AND EQUIPMENT / 004 / 101.048 / 95.848
III. LONG-TERM FINANCIAL ASSETS / 005 / 2
IV. RECEIVABLES / 006 / 589 / 481
V. DEFERRED TAX ASSETS / 007
C) CURRENT ASSETS / 008 / 141.346 / 152.030
I. INVENTORY / 009 / 53.258 / 53.047
II. RECEIVABLES / 010 / 75.155 / 82.391
III. SHORT-TERM FINANCIAL ASSETS / 011 / 21 / 1.400
IV. CASH AND CASH EQUIVALENTS / 012 / 12.912 / 15.192
D) PAID EXPENSES OF FUTURE PERIOD AND ACCRUED INCOME / 013
E) LOSS ABOVE CAPITAL / 014
F) ASSETS TOTAL / 015 / 244.493 / 250.172
G) OFF-BALANCE-SHEET RECORDS / 016
LIABILITIES
A) CAPITAL AND RESERVES / 017 / 169.001 / 167.242
I. SHARE (SUBSCRIBED) CAPITAL / 018 / 184.486 / 184.486
II. CAPITAL RESERVES / 019
III. RESERVES FROM PROFIT / 020 / 22.284 / 4.332
IV. REVALORISATION RESERVES / 021
V. RETAINED EARNINGS / 022
VI. LOSS CARRIED FORWARD / 023 / -20.978
VII. NET INCOME FROM THE YEAR / 024
VIII. LOSS OF THE YEAR / 025 / -37.769 / -598
IX. MINORITY INTEREST / 026
B) PROVISIONS / 027 / 878 / 878
C) LONG-TERM LIABILITIES / 028 / 14.936 / 37.931
D) SHORT-TERM LIABILITIES / 029 / 59.678 / 44.121
E) DEFERRED PAYMENT OF EXPENSES AND INCOME OF FUTURE PERIOD / 030
F) TOTAL - LIABILITIES / 031 / 244.493 / 250.172
G) OFF-BALANCE-SHEET RECORDS / 032
ANNEX TO BALANCE SHEET (filled in by company preparing the consolidated annual financial statement)
CAPITAL AND RESERVES
1. Assigned to the holders of parent company’s capital / 033 / 169.001 / 167.242
2. Assigned to minority interest / 034
Individual Balance Sheet as at 31 December 2009
Amounts in 000 HRK
Position name1 / EDP
#
2 / Previous
period
3 / Current
Period
4
ASSETS
A) RECEIVABLES FOR SUBSCRIBED BUT NOT PAID-IN CAPITAL / 001
B) LONG-TERM ASSETS / 002 / 104.059 / 195.930
I. INTANGIBLE ASSETS / 003 / 1.510 / 1.206
II. PROPERTY, PLANT AND EQUIPMENT / 004 / 100.876 / 91.399
III. LONG-TERM FINANCIAL ASSETS / 005 / 1.673 / 102.844
IV. RECEIVABLES / 006 / 481
V. DEFERRED TAX ASSETS / 007
C) CURRENT ASSETS / 008 / 139.822 / 24.952
I. INVENTORY / 009 / 52.275 / 12
II. RECEIVABLES / 010 / 74.885 / 21.075
III. SHORT-TERM FINANCIAL ASSETS / 011 / 21 / 2.900
IV. CASH AND CASH EQUIVALENTS / 012 / 12.641 / 965
D) PAID EXPENSES OF FUTURE PERIOD AND ACCRUED INCOME / 013
E) LOSS ABOVE CAPITAL / 014
F) ASSETS TOTAL / 015 / 243.881 / 220.882
G) OFF-BALANCE-SHEET RECORDS / 016
LIABILITIES
A) CAPITAL AND RESERVES / 017 / 170,519 / 168.955
I. SHARE (SUBSCRIBED) CAPITAL / 018 / 184,486 / 184.486
II. CAPITAL RESERVES / 019 / 8,000 / 4.484
III. RESERVES FROM PROFIT / 020
IV. REVALORISATION RESERVES / 021
V. RETAINED EARNINGS / 022 / 14,657
VI. LOSS CARRIED FORWARD / 023 / -20,967
VII. NET INCOME FROM THE YEAR / 024 / 952
VIII. LOSS OF THE YEAR / 025 / 36,624
IX. MINORITY INTEREST / 026
B) PROVISIONS / 027 / 878 / 878
C) LONG-TERM LIABILITIES / 028 / 14,935 / 32.931
D) SHORT-TERM LIABILITIES / 029 / 57,332 / 13.118
E) DEFERRED PAYMENT OF EXPENSES AND INCOME OF FUTURE PERIOD / 030 / 216
F) TOTAL - LIABILITIES / 031 / 243,880 / 220.882
G) OFF-BALANCE-SHEET RECORDS / 032
ANNEX TO BALANCE SHEET (filled in by company preparing the consolidated annual financial statement)
CAPITAL AND RESERVES
1. Assigned to the holders of parent company’s capital / 033 / 170,519 / 168.955
2. Assigned to minority interest / 034
Consolidated Income Statement for the period from 1 January to 31 December 2009
Amounts in 000 HRK
Position name / EDP# / Previous period / Current period
1 / 2 / Cumulative
3 / Quarter
4 / Cumulative
5 / Quarter
6
I. OPERATING INCOME / 035 / 177.318 / 34.019 / 186.062 / 37.892
1. Income from sales / 036 / 167.456 / 30.856 / 178.829 / 34.458
2. Income based on use of own produce, goods and services / 037 / 0
3. Other income / 038 / 9.862 / 3.163 / 7.233 / 3.434
II. OPERATING COSTS / 039 / 213.888 / 75.115 / 183.719 / 45.343
1. Value changes of unfinished production reserves / 040 / -3.021 / -2.140 / 3.365 / -3.180
2. Material costs / 041 / 78.186 / 17.237 / 87.320 / 18.009
3. Staff costs / 042 / 79.751 / 40.217 / 50.111 / 14.482
4. Depreciation / 043 / 12.840 / 3.354 / 13.352 / 3.282
5. Other costs / 044 / 45.116 / 15.998 / 29.572 / 12.750
6. Value impairment / 045 / 1.016 / 449
7. Provisions / 046
8. Other operating costs / 047
III. FINANCIAL INCOME / 048 / 1.483 / 420 / 2.844 / -57
1. Interest rate, exch. rate difference, dividends and other income from relations with related companies / 049
2. Interest rate, exch. rate difference, dividends and other income from relations with unrelated companies and other persons / 050 / 1.483 / 420 / 2.844 / -57
3. Part of income from associated comp. and participating interests / 051
4. Unrealized gains (income) / 052
5. Other financial income / 053
IV. FINANCIAL EXPENSE / 054 / 2.261 / 1.017 / 5.339 / 632
1. Interest rate, exch. rate differences and other expen. with related comp. / 055
2. Interest rate, exch. rate differences and other expen. with unrelated comp. / 056 / 2.261 / 1.017 / 5.339 / 632
3. Unrealized losses (expenditure) of financial assets / 057
4. Other financial expenditure / 058
V. EXTRAORDINARY – OTHER INCOME / 059
VI. EXTRAORDINARY – OTHER COSTS / 060
VII. TOTAL INCOME / 061 / 178.801 / 34.439 / 188.906 / 37.835
VIII. TOTAL COSTS / 062 / 216.149 / 76.132 / 189.058 / 45.975
IX. PROFIT BEFORE TAXATION / 063
X. LOSS BEFORE TAXATION / 064 / -37.348 / -41.693 / -153 / -8.141
XI. INCOME TAX / 065 / 421 / 445
XII. NET INCOME / 066
XIII. NET LOSS / 067 / -37.769 / -598
EX TO PLA (filled in by company preparing the consolidated annual financial statement)
XIV.* PROFIT ASSIGNED TO HOLDERS OF PARENT COMPANY’S CAPITAL / 068
XV.* PROFIT ASSIGNED TO MINORITY INTEREST / 069
XVI. LOSS ASSIGNED TO HOLDERS OF PARENT COMPANY’S CAPITAL / 070 / -37.769 / -598
XVII. LOSS ASSIGNED TO MINORITY INTEREST / 071
Individual Income Statement for the period from 1 Octoberto 31December 2009
Amounts in 000 HRK
Position name / EDP# / Previous period / Current period
1 / 2 / Cumulative
3 / Quarter
4 / Cumulative
5 / Quarter
6
I. OPERATING INCOME / 035 / 174.422 / 33.647 / 42.434 / 12.397
1. Income from sales / 036 / 172.872 / 30.483 / 42.434 / 12.397
2. Income based on use of own produce, goods and services / 037
3. Other income / 038 / 1.550 / 3.164
II. OPERATING COSTS / 039 / 210.317 / 74.315 / 38.230 / 8.786
1. Value reduction of unfinished production reserves / 040
2. Value increase of unfinished production reserves / 041 / 3.021 / 2.140
3. Material costs / 042 / 96.319 / 32.544 / 6.192 / 1.674
4. Staff costs / 043 / 76.632 / 19.282 / 13.245 / 2.567
5. Depreciation / 044 / 12.780 / 2.810 / 13.289 / 3.256
6. Other costs / 045 / 9.915 / 7.138 / 5.504 / 1.289
7. Value impairment / 046 / 284
8. Provisions / 047
9. Other operating costs / 048 / 17.408 / 14.681
III. FINANCIAL INCOME / 049 / 2.288 / 731 / 1.667 / 437
1. Interest rate, exch. rate difference, dividends and other income from relations with related companies / 050
2. Interest rate, exch. rate difference, dividends and other income from relations with unrelated companies and other persons / 051 / 2.288 / 731 / 1.667 / 437
3. Part of income from associated comp. and participating interests / 052
4. Unrealized gains (income) / 053
5. Other financial income / 054
IV. FINANCIAL EXPENSE / 055 / 2.647 / 887 / 4.919 / 1.159
1. Interest rate, exch. rate differences and other expen. with related comp. / 056
2. Interest rate, exch. rate differences and other expen. with unrelated comp. / 057 / 2.647 / 887 / 4.919 / 1.159
3. Unrealized losses (expenditure) of financial assets / 058
4. Other financial expenditure / 059
V. EXTRAORDINARY – OTHER INCOME / 060
VI. EXTRAORDINARY – OTHER COSTS / 061
VII. TOTAL INCOME / 062 / 176.710 / 34.378 / 44.101 / 12.834
VIII. TOTAL COSTS / 063 / 212.964 / 75.202 / 43.149 / 9.945
IX. PROFIT BEFORE TAXATION / 064 / 952 / 2.889
X. LOSS BEFORE TAXATION / 065 / -36.254 / -40.824
XI. INCOME TAX / 066 / 190 / 578
XII. NET INCOME / 067 / 762 / 2.311
XIII. NET LOSS / 068 / -36.254
EX TO PLA (filled in by company preparing the consolidated annual financial statement)
XIV.* PROFIT ASSIGNED TO HOLDERS OF PARENT COMPANY’S CAPITAL / 069
XV.* PROFIT ASSIGNED TO MINORITY INTEREST / 070 / 762 / 2.311
XVI. LOSS ASSIGNED TO HOLDERS OF PARENT COMPANY’S CAPITAL / 071
XVII. LOSS ASSIGNED TO MINORITY INTEREST / 072
Consolidated Cash Flow Statement for the period from 1 January to 31December2009
Amounts in 000 HRK
Position name1 / EDP
#
2 / Previous
period
3 / Current
Period
4
CASH FLOW FROM OPERATING ACTIVITIES
1. Profit before tax / 073 / -37.348 / -153
2. Depreciation / 074 / 12.839 / 13.352
3. Increase of short-term liabilities / 075 / 20.755
4. Decrease of short-term receivables / 076 / 8.446
5. Decrease of inventories / 077 / 211
6. Other increase of cash flow / 078 / 190
I. Total increase of cash flow from business activities / 079 / 4.882 / 13.410
1. Decrease of short-term liabilities / 080 / 15.557
2. Increase of short-term receivables / 081 / 7.236
3. Increase of inventories / 082 / 604
4. Other decrease of cash flow / 083 / 1.150
II. Total decrease of cash flow from business activities / 084 / 1.754 / 22.793
A1) NET INCREASE OF CASH FLOW FROM OPERATING ACTIVITIES / 085 / 3.128
A2) NET DECREASE OF CASH FLOW FROM OPERATING ACTIVITIES / 086 / 9.383
CASH FLOW FROM INVESTMENT ACTIVITIES
1. Cash receipt from sale of tangible and intangible assets / 087 / 600
2. Cash receipt from sale of ownership and debt instruments / 088
3. Cash receipt from interest rates / 089 / 57 / 83
4. Cash receipt from dividends / 090
5. Other cash receipts from investment activities / 091 / 281 / 79
III. Total cash receipts from investment activities / 092 / 938 / 162
1. Cash expenditure for buying tangible and intangible assets / 093 / 25.470 / 7.559
2. Cash expenditure for acquiring ownership and debt financial instruments / 094 / 2
3. Other cash expenditures from investment activities / 095 / 48 / 2.458
IV. Total cash expenditures from investment activities / 096 / 25.518 / 10.019
B1) NET INCREASE OF CASH FLOW FROM INVESTMENT ACTIVITES / 097
B2) NET DECREASE OF CASH FLOW FROM INVESTMENT ACTIVITIES / 098 / 24.580 / 9.857
CASH FLOW FROM FINANCIAL ACTIVITIES
1. Cash receipt from issuing of ownership and debt financial instruments / 099
2. Cash receipt from loan principal, debentures, loans and other borrowing / 100 / 16.574 / 41.458
3. Other receipts from financial activities / 101
V. Total cash receipts from financial activities / 102 / 16.574 / 41.458
1. Cash expenditure for the payment of loan principal and bonds / 103 / 1.406 / 17.702
2. Cash expenditure for the payment of dividend / 104
3. Cash expenditure for financial lease / 105
4. Cash expenditure for buy-off of own shares / 106 / 2.516
5. Other cash expenditures from financial activities / 107 / 2.000
VI. Total cash expenditure from financial activities / 108 / 1.406 / 22.218
C1) NET INCREASE OF CASH FLOW FROM FINANCIAL ACTIVITIES / 109 / 15.168 / 19.240
C2) NET DECREASE OF CASH FLOW FROM FINANCIAL ACTIVITIES / 110
Total increase of cash flow / 111 / 0 / 19.240
Total decrease of cash flow / 112 / 6.284 / 19.240
Cash and cash equivalents at the beginning of period / 113 / 19.196 / 12.912
Increase of cash and cash equivalents / 114 / 2.280
Decrease of cash and cash equivalents / 115 / 6.284
Cash and cash equivalents at the end of period / 116 / 12.912 / 15.192
Individual Cash Flow Statement for the period from 1 January to 31December 2009
Amounts in 000 HRK
Position name1 / EDP
#
2 / Previous
period
3 / Current
Period
4
CASH FLOW FROM OPERATING ACTIVITIES
1. Profit before tax / 073 / -36.254 / 952
2. Depreciation / 074 / 12.780 / 13.289
3. Increase of short-term liabilities / 075 / 20.883
4. Decrease of short-term receivables / 076 / 8.182 / 53.810
5. Decrease of inventories / 077 / 52.263
6. Other increase of cash flow / 078 / 129
I. Total increase of cash flow from business activities / 079 / 5.720 / 120.314
1. Decrease of short-term liabilities / 080 / 44.214
2. Increase of short-term receivables / 081
3. Increase of inventories / 082 / 437
4. Other decrease of cash flow / 083 / 1.150
II. Total decrease of cash flow from business activities / 084 / 1.587 / 44.214
A1) NET INCREASE OF CASH FLOW FROM OPERATING ACTIVITIES / 085 / 4.133 / 76.100
A2) NET DECREASE OF CASH FLOW FROM OPERATING ACTIVITIES / 086
CASH FLOW FROM INVESTMENT ACTIVITIES
1. Cash receipt from sale of tangible and intangible assets / 087 / 600
2. Cash receipt from sale of ownership and debt instruments / 088
3. Cash receipt from interest rates / 089 / 57 / 69
4. Cash receipt from dividends / 090
5. Other cash receipts from investment activities / 091 / 281 / 57
III. Total cash receipts from investment activities / 092 / 938 / 126
1. Cash expenditure for buying tangible and intangible assets / 093 / 25.447 / 2.879
2. Cash expenditure for acquiring ownership and debt financial instruments / 094 / 101.739
3. Other cash expenditures from investment activities / 095 / 148 / 2.100
IV. Total cash expenditures from investment activities / 096 / 25.595 / 106.715
B1) NET INCREASE OF CASH FLOW FROM INVESTMENT ACTIVITES / 097
B2) NET DECREASE OF CASH FLOW FROM INVESTMENT ACTIVITIES / 098 / 24.657 / 106.589
CASH FLOW FROM FINANCIAL ACTIVITIES
1. Cash receipt from issuing of ownership and debt financial instruments / 099 / 0
2. Cash receipt from loan principal, debentures, loans and other borrowing / 100 / 16.574 / 39.031
3. Other receipts from financial activities / 101
V. Total cash receipts from financial activities / 102 / 16.574 / 39.031
1. Cash expenditure for the payment of loan principal and bonds / 103 / 1.406 / 17.702
2. Cash expenditure for the payment of dividend / 104
3. Cash expenditure for financial lease / 105
4. Cash expenditure for buy-off of own shares / 106 / 2.516
5. Other cash expenditures from financial activities / 107
VI. Total cash expenditure from financial activities / 108 / 1.406 / 20.218
C1) NET INCREASE OF CASH FLOW FROM FINANCIAL ACTIVITIES / 109 / 15.168 / 18.813
C2) NET DECREASE OF CASH FLOW FROM FINANCIAL ACTIVITIES / 110
Total increase of cash flow / 111 / 94.913
Total decrease of cash flow / 112 / 5.356 / 106.589
Cash and cash equivalents at the beginning of period / 113 / 17.997 / 12.641
Increase of cash and cash equivalents / 114
Decrease of cash and cash equivalents / 115 / 5.356 / 11.676
Cash and cash equivalents at the end of period / 116 / 12.641 / 965
Consolidated Statement of Changes in Equity for the period from 1 January to 31December 2009
Position name / EDP# / Previous period / Increase / Decrease / Current period
1 / 2 / 31/12 previous year / 3 / 4
1 Subscribed capital / 117 / 184.486 / 184.486
2 Capital reserves / 118
3 Profit reserves / 119 / 8.000 / 3.668 / 4.332
4 Retained profit or loss brought forward / 120 / 14.366 / 37.769 / -20.978
5 Profit or loss of the current year / 121 / -37.769 / 37.171 / -598
6 Revalorisation of long-term material assets / 122
7 Revalorisation of non-material assets / 123
8 Revalorisation of financial assets available for sale / 124
9 Other revalorisation / 125
10 Exchange rate differences from net investments in foreign business activities / 126 / -82
11 Current and deferred taxes (part) / 127
12 Protection of cash flow / 128
13 Changes in accounting policies / 129
14 Correction of significant mistakes from previous period / 130
15 Other equity changes / 131
16 Total capital increase or decrease / 132 / 169.001 / 37.171 / 41.437 / 167.242
16a Assigned to holders of parent company’s capital / 133 / 169.001 / 167.242
16b Assignment to minority interest / 134
Individual Statement of Changes in Equity for the period from 1 January to 30 September 2009
Position name / EDP# / Previous period / Increase / Decrease / Current period
1 / 2 / 31/12 previous year / 3 / 4
1 Subscribed capital / 117 / 184.486 / 184.486
2 Capital reserves / 118
3 Profit reserves / 119 / 8.000 / 4.484
4 Retained profit or loss brought forward / 120 / 14.657 / 35.624 / -20.967
5 Profit or loss of the current year / 121 / -36.624 / 37.576 / 952
6 Revalorisation of long-term material assets / 122
7 Revalorisation of non-material assets / 123
8 Revalorisation of financial assets available for sale / 124
9 Other revalorisation / 125
10 Exchange rate differences from net investments in foreign business activities / 126
11 Current and deferred taxes (part) / 127
12 Protection of cash flow / 128
13 Changes in accounting policies / 129
14 Correction of significant mistakes from previous period / 130
15 Other equity changes / 131
16 Total capital increase or decrease / 132 / 170.519 / 37.576 / 35.624 / 168.955
16a Assigned to holders of parent company’s capital / 133 / 170.519 / 168.955
16b Assignment to minority interest / 134
III.NOTES WITH UNAUDITED INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMETNS FOR THE FOURTH QUARTER2009
NOTE 1 - Preparation basis
1.1Statement of Compliance
These abbreviated quarterly (fourthquarter) unaudited individual and consolidated financial statements for the period ended 31 December 2009 do not include all data that have to be published in annual financial statements, therefore, they have to be considered together with the audited individual and consolidated financial statements of the Company and the Group as at and for the year ended 31 December 2008 as well as with the unaudited individual and consolidated financial statements of the Company and the Group as at 30September2009.
1.2Basis for the preparation of statements
Accounting policies used by the Company and the Group in the preparation of these abbreviated
unaudited individual and consolidated financial statements for the period of the fourthquarterwhich ended on 31December 2009 correspond to accounting policies used by theCompany and the Group in the preparation of audited individual and consolidated financial statements as at and for the year which ended on 31 December 2008. These financial statements wereprepared on the going concern basis.
1.3. Related parties
As at 31 December 2009 the related companies are:
-Veterina d.o.o., Croatia,
-Veterina Kalinova d.o.o., Croatia,
-Veterina Nutricius d.o.o., Croatia,
-Vitamedera d.o.o., Croatia,
-Veterina Usluge d.o.o., Croatia,
-Genera Analitika d.o.o., Croatia
-Veterina Plus d.o.o. , Slovenia,
NOTE 2 –Long term assets – property, plant and equipment and intangible assets
During the first half year, investments in long-term tangible and intangible assets for the Company amount to HRK2,879 thousand, and for the Group amount to HRK7,559 thousand.
NOTE 3 –Long term financial assets – investment in subsidiaries