Katowice
5 April 2013
CONTENTS
INFORMATION CONCERNING THE CONSOLIDATED FINANCIAL STATEMENTS PREPARED ACCORDING TO IAS /IFRS
CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE TIME PERIOD FROM 1 JANUARY 2012 TO 31 DECEMBER 2012
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD FROM 1 JANUARY 2012 TO 31 DECEMBER 2012
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD FROM 1 JANUARY 2011 TO 31 DECEMBER 2011
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2012
CONSOLIDATED CASH FLOW STATEMENT FOR THE PERIOD FROM 1 JANUARY 2012 TO 31 DECEMBER 2012
EXPLANATORY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DRAWN UP AS AT 31 DECEMBER 2012
1.GENERAL INFORMATION
2.ADOPTED ACCOUNTING PRINCIPLES
1)Declaration of compliance
2)Changes in accounting principles
3)Grounds for consolidation
4)Investments in associates
5)Goodwill
6)Fixed assets held for sale
7)Lease
a)The Group as a lessor
b)The Group as a lessee
8)Foreign currencies
a)Functional currency and presentation currency
b)Transactions and balances
9)Employee benefits
10)Methods of measurement
11)Recognition of revenues
a)Revenue from sales of products, goods, services and materials
b)Revenue from interest
c)Revenue from dividends
d)Revenue from lease
12)Long-term contracts
13)Recognition of expenses
14)Other operating revenues and expenses
15)Financial income and expenses
16)Cost of interest
17)Taxes
a)Current tax
b)Deferred tax
c)Other taxes
18)Tangible fixed assets
19)Roadheaders
20)Investment property
21)Intangible assets
a)Intangibles produced by the entity on its own - Costs of research and development works
b)Computer software
22)Impairment
23)Inventories
24)Impairment losses on inventories
25)Objectives and principles of financial risk management
26)Financial instruments
27)Principles of measurement of financial instruments as at the balance sheet date
28)Financial assets classified as capital instruments
29)Trade receivables
30)Other receivables
31)Investments in securities and shares in subsidiaries and associates
32)Cash and cash equivalents
33)Prepaid expenses
a)Prepaid expenses
b)Accrued expenses
34)Deferred income
35)Equity capitals
36)Reserves and provisions
37)Bank loans
38)Financing payables and capital instruments
39)Convertible debt instruments
40)Trade payable
41)Payables due to arrangements with creditors.
42)Derivative instruments and hedge accounting
43)Payments in capital instruments
44)Grants
45)Earnings per share
46)Reporting according to business divisions
47)Presentation of loans granted and incurred in the consolidated cash flow statement and consolidated statement of financial position
48)Disclosures concerning associates
49)Information about seasonality
3.REVENUE FROM SALES
4.BUSINESS DIVISIONS - INDUSTRY AND GEOGRAPHICAL
5.RESTRUCTURING COSTS
6.PROFIT FROM OPERATING ACTIVITIES
7.COSTS OF EMPLOYMENT
8.OTHER OPERATING REVENUES AND OPERATING EXPENSES
9.FINANCIAL REVENUES AND EXPENSES
10.PROFIT/LOSS FROM DISCONTINUED ACTIVITIES
11.INCOME TAX
12.FIXED ASSETS HELD FOR SALE
13.DIVIDENDS
14.EARNINGS PER SHARE
15.PLEDGES ON THE COMPANY'S ASSETS
16.CONSOLIDATED GOODWILL
17.INTANGIBLE ASSETS from 01.01.2012 to 31.12.2012
18.TANGIBLE FIXED ASSETS
19.INVESTMENT PROPERTY
20.INVESTMENTS IN ASSOCIATES
21.FINANCIAL ASSETS
22.INVENTORIES
23.LONG-TERM CONTRACTS
24.FINANCIAL LEASE RECEIVABLES
25.OTHER CURRENT ASSETS
26.LOANS AND BORROWINGS\
27.CONVERTIBLE BONDS
28.CAPITAL RISK MANAGEMENT
29.DEFERRED TAX
30.FINANCIAL LEASE PAYABLE
31.OTHER CURRENT PAYABLES
32.RESERVES AND PROVISIONS
33.INITIAL CAPITAL
34.SUPPLEMENTARY CAPITAL FROM THE SALE OF SHARES ABOVE THEIR PAR VALUE
35.RETAINED EARNINGS
36.SALE OF SUBSIDIARIES
37.COMBINATION OF COMPANIES
38.FINANCIAL INSTRUMENTS
39.OBJECTIVES AND PRINCIPLES OF FINANCIAL RISK MANAGEMENT
40.NET PROFIT/LOSS AND REVENUES/EXPENSES DERIVING FROM FINANCIAL INSTRUMENTS
41.ACQUISITION AND CONSOLIDATION OF SUBSIDIARIES
42.NOTES TO CASH FLOW STATEMENT
43.GRANTS
44.CONTINGENT RECEIVABLES AND PAYABLES
45.INFORMATION ABOUT SIGNIFICANT TRANSACTIONS WITH CUSTOMERS
46.PAYMENT IN THE COMPANY'S CAPITAL INSTRUMENTS
47.RETIREMENT BENEFITS PROGRAMME
48.ADJUSTMENT DUE TO ERROR
49.ADDITIONAL INFORMATION
50.EVENTS AFTER THE BALANCE SHEET DATE
51.TRANSACTIONS WITH ASSOCIATES
52.REMUNERATION FOR MEMBERS OF THE MANAGEMENT BOARD AND SUPERVISORY AUTHORITIES
53.REMUNERATION FOR THE ENTITY AUTHORISED TO AUDIT FINANCIAL STATEMENTS
INFORMATION CONCERNING THE CONSOLIDATED FINANCIAL STATEMENTS PREPARED ACCORDING TO IAS /IFRS
Selected financial information / TPLN / TPLN / TEUR / TEURYear 2012 / Year 2011 / Year 2012 / Year 2011
from 01.01.2012
to 31.12.2012 / from 01.01.2011
to 31.12.2011 / from 01.01.2012
to 31.12.2012 / from 01.01.2011
to 31.12.2011
Net revenue from sales / 1,471,509 / 923,104 / 352,575 / 222,967
Net profit (loss) from continuing activities allocated to shareholders of the parent entity / 271,075 / 95,317 / 64,950 / 23,023
Profit (loss) from operating activities / 348,875 / 154,365 / 83,591 / 37,285
Net profit (loss) allocated to shareholders of the parent entity / 271,067 / 119,184 / 64,948 / 28,788
Net cash flow from operating activities / 413,055 / 156,667 / 98,968 / 37,841
Net cash flow from investing activities / - 193,551 / - 261,012 / - 46,375 / - 63,045
Net cash flow from financing activities / - 74,020 / 28,574 / - 17,735 / 6,902
Total net cash flow / 145,484 / - 75,771 / 34,858 / - 18,302
Total assets / 1,563,640 / 1,213,595 / 382,476 / 274,768
Liabilities and provisions for liabilities / 633,885 / 570,978 / 155,052 / 129,274
Non-current payables / 115,478 / 115,071 / 28,247 / 26,053
Current payables / 276,263 / 299,054 / 67,576 / 67,708
Equity capital / 929,754 / 642,617 / 227,424 / 145,494
Equity capital allocated to shareholders of the parent entity / 883,944 / 612,918 / 216,218 / 138,770
Share capital / 4,815 / 4,815 / 1,178 / 1,090
Number of shares (units) / 481,500,000 / 481,500,000 / 481,500,000 / 481,500,000
Net earnings (loss) per equity share / 0.56 / 0.25 / 0.13 / 0.06
Net diluted profit (loss) per equity share / 0.56 / 0.25 / 0.13 / 0.06
Book value per share / 1.84 / 1.27 / 0.45 / 0.29
Diluted book value per share / 1.84 / 1.27 / 0.45 / 0.29
For the needs of the statements the selected financial information has been converted to EUR as follows:
- items related to the profit and loss account and cash flow calculation pertaining to 2012 (respectively to 2011) were converted at the exchange rate that was the arithmetic mean of average exchange rates announced by the National Bank of Poland (NBP) as at the last day of each month. The exchange rate for 2012 was 1 EUR = 4.1736 PLN and respectively 1 EUR = 4.1401 PLN for 2011.
- items of the balance sheet were converted at the average exchange rate announced by the National Bank of Poland (NBP) as at the balance sheet date. The average exchange rate was: 1 EUR = 4.0882 PLN as at 31 December 2012 and 1 EUR = 4.4168 PLN as at 31 December 2011.
CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE TIME PERIOD FROM 1 JANUARY 2012 TO 31 DECEMBER 2012
CONSOLIDATED PROFIT AND LOSS ACCOUNT / NOTE / From 01.01.2012 to 31.12.2012 / From 01.01.2011 to 31.12.2011TPLN / TPLN
Continuing activities
I. Net revenues from the sale of products, goods and materials, of which: / - / 1,471,509 / 923,104
1. Net sales of products / 3 / 1,342,619 / 830,172
2. Net sales of goods and materials / 3 / 128,890 / 92,933
II. Cost of products, goods and materials sold, of which: / 968,917 / 671,290
1. (Manufacturing) Cost of products sold / 855,605 / 581,396
2. Value of goods and materials sold / 113,312 / 89,894
III. Gross profit (loss) from sales (I-II) / 502,592 / 251,814
IV. Cost of sales / 20,902 / 17,019
V. General and administrative expenses / 104,643 / 79,446
VI. Profit (loss) from sales (III-IV-V) / 377,047 / 155,349
VII. Other operating revenues / 111,822 / 62,084
1. Earnings from disposal of non-financial fixed assets / 435 / -
2. Grants / - / 25
3. Other operating revenues / 8 / 111,387 / 62,059
VII. Other operating expenses / 139,994 / 63,068
1. Loss on disposal of non-financial fixed assets / - / 589
2. Revaluation of non-financial assets / 22,364 / 8,533
3. Other operating expenses / 8 / 117,630 / 53,945
IX. Profit (loss) from operating activities (VI+VII-VIII) / 348,875 / 154,365
X. Financial revenues / 9 / 44,598 / 13,362
1. Dividend and profit-sharing, of which: / 242 / 691
- from associates / 242 / 691
2. Interest, of which: / 22,335 / 5,814
- from associates / 49 / 139
3. Other / 22,021 / 6,858
XI. Financial expenses / 9 / 56,994 / 33,808
1. Interest, of which: / 14,045 / 8,784
- to associates / 436 / 105
2. Loss on disposal of investments / 298 / 63
3. Revaluation of investments / 6,162 / -
4. Other / 36,489 / 24,961
XIII. Profit (loss) from economic activities (IX+X-XI+/-XII) / 336,479 / 133,919
XIV. Profit (loss) before tax (XIII-XIV+XV) / 336,479 / 133,919
XV. Income tax / 49,292 / 29,089
a) current tax / 11 / 62,910 / 27,263
b) deferred tax / 11 / -13,619 / 1,826
XVI. Net profit (loss) from continuing activities / 287,187 / 104,830
XVII. Discontinued activities / 10 / -8 / 23,868
XVIII. Profit after tax, of which: / 287,179 / 128,698
XIX. allocated to shareholders of the parent company / 271,067 / 119,184
XX. allocated to minority shareholders / 16,112 / 9,514
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Statement of comprehensive income / For the period01.01.2012 -
31.12.2012 / For the period
01.01.2011 -
31.12.2011
TPLN / TPLN
Net profit/loss from continuing activities / 287,187 / 104,830
Profit from discontinued activities / -8 / 23,868
Valuation of investment property / - / 1,573
Total comprehensive income / 287,179 / 130,272
Allocated to shareholders of the parent company / 271,067 / 119,184
Allocated to minority shareholders / 16,112 / 9,514
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD FROM 1 JANUARY 2012 TO 31 DECEMBER 2012
Share capital / Supplementary capital / Retained earnings / Total / Equity capital allocated to minority shareholders / Total equityPLN / PLN / PLN / PLN / PLN / PLN
As at 1 January 2012 / 4,815 / 340,855 / 267,249 / 612,919 / 29,699 / 642,617
Profit (loss) after tax / - / - / 271,067 / 271,067 / 16,112 / 287,179
Earnings allocated to supplementary capital / - / 99,042 / -99,042 / - / - / -
Dividend / - / - / - / - / -
Advance payments for redemption of the shares of REMAG S.A. / - / - / -807 / -807 / - / -807
Other / - / - / 766 / 766 / - / 766
Other comprehensive income / - / - / - / - / - / -
As at 31 December 2012 / 4,815 / 439,897 / 439,233 / 883,944 / 45,811 / 929,755
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD FROM 1 JANUARY 2011 TO 31 DECEMBER 2011
Share capital / Supplementary capital / Retained earnings / Total / Equity capital allocated to minority shareholders / Total equityTPLN / TPLN / TPLN / TPLN / TPLN / TPLN
As at 1 January 2011 / 4,815 / 572,187 / 226,760 / 803,761 / - / 803,760
Purchase of a subsidiary / - / - / - / - / 20,185 / 29,699
Profit (loss) after tax / - / - / 119,184 / 119,184 / 9,514 / 119,184
Merger with a subsidiary / - / -5 / - / -5 / - / -5
Advance payments for redemption of the shares of REMAG SA / - / - / -13,066 / -13,066 / - / -13,066
Valuation of investment property / - / - / 1,573 / 1,573 / - / 1,573
Dividend / - / -231,327 / -67,203 / -298,530 / - / -298,530
Other comprehensive income / - / - / - / - / - / -
As at 31 December 2011 / 4,815 / 340,855 / 267,249 / 612,919 / 29,699 / 642,617
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2012
CONSOLIDATED STATEMENT OF FINANCIAL POSITION / NOTE / End of period 31.12.2012 / End of period 31.12.2011TPLN / TPLN
Assets
I. Fixed assets / 765,715 / 631,200
1. Intangible assets, of which: / 17 / 184,574 / 181,514
- goodwill / 16 / 161,356 / 156,807
2. Tangible fixed assets: / 489,277 / 389,167
2.1. Fixed assets / 18 / 475,207 / 380,402
2.2. Fixed assets under construction / 14,070 / 8,765
3. Non-current receivables / 11,890 / 9,759
3.1. From associates / 289 / 1,623
3.2. From other entities / 11,601 / 8,136
4. Long-term investments / 26,250 / 24,974
4.1. Property / 19 / 4,206 / 4,206
4.2. Intangible assets / - / -
4.3. Non-current financial assets / 22,014 / 20,738
a) in associates / 21 / 21,913 / 19,465
b) in other entities / 101 / 1,273
4.4. Other long-term investments / 30 / 30
5. Other long-term assets (prepayments) / 3,648 / 1,564
6. Deferred tax assets / 29a / 50,076 / 24,221
II. Current assets / 797,925 / 582,396
1. Inventories / 22 / 175,617 / 129,101
2. Current receivables / 25 / 413,062 / 367,973
2.1. Financial lease receivable / 24 / 19,811 / 4,170
2.2. Trade receivable / 360,447 / 338,333
2.3. Tax receivable, of which: / 15,083 / 13,243
2.3.1. Current income tax receivable / 815 / 2,866
2.4. Other receivables / 17,722 / 12,227
3. Short-term financial assets available for sale / - / -
4. Short-term assets held for trading / - / -
5. Other short-term financial assets / 19,835 / 40,658
5.1. Other short-term financial assets related to entities within the group / - / 979
5.2. Other short-term financial assets related to other entities / 19,835 / 39,679
6. Cash and cash equivalents / 183,500 / 38,016
7. Other short-term assets (prepayments) / 25 / 5,911 / 6,648
8. Fixed assets classified as assets held for sale / - / -
Total assets / 1,563,640 / 1,213,595
Liabilities / End of period 31.12.2012 / End of period 31.12.2011
I. Shareholders’ equity / 929,755 / 642,617
1. Share capital / 33 / 4,815 / 4,815
2. Supplementary capital / 439,897 / 340,855
3. Retained earnings / 35 / 439,233 / 267,249
A. Capital allocated to shareholders of the parent company / 883,944 / 612,918
B. Minority interest / 45,811 / 29,699
II. Liabilities and provisions for liabilities / 633,885 / 570,978
1. Provisions for liabilities / 204,405 / 122,155
1.1. Deferred income tax reserve / 29b / 37,534 / 22,945
1.2. Provision for employee benefits / 56,620 / 64,683
a) long-term / 32 / 42,903 / 53,720
b) short-term / 32 / 13,717 / 10,963
1.3. Other provisions and reserves / 110,251 / 34,527
a) long-term / 32 / 19,272 / 6,278
b) short-term / 32 / 90,979 / 28,249
2. Non-current payables / 115,478 / 115,071
2.1. Loans and borrowings / 26 / 71,915 / 114,105
2.2. Long-term lease payable / 30 / 29,248 / 471
2.3. Other non-current payables / 14,316 / 495
3. Current payables / 276,263 / 299,054
3.1. Trade payable: / 31 / 139,474 / 142,214
3.1.1. Trade payable to associates / 9,602 / 13,902
3.1.2. Trade payable to other entities / 129,872 / 128,311
3.2. Advances to suppliers received / 27,156 / 14,137
3.3. Payroll payable / 9,048 / 7,526
3.4. Tax payable, of which: / 25,777 / 23,976
3.4.1. Current income tax payable / 3,001 / 4,227
3.5. Short-term financial lease payable / 30 / 15,339 / 1,336
3.6. Short-term loans and borrowings / 26 / 44,853 / 92,383
3.7. Other / 14,615 / 17,481
4. Other payables (accruals) / 31 / 37,739 / 34,698
III. Liabilities directly linked with fixed assets classified as held for sale / 0
Total liabilities / 1,563,640 / 1,213,595
Carrying value / 929,755 / 642,617
Number of stocks (shares) / 481,500 / 481,500
Carrying value per stock (share) in PLN / 1.93 / 1.33
Diluted number of stocks (shares) / 481,500 / 481,500
Diluted carrying value per stock (share) in PLN / 1.93 / 1.33
CONSOLIDATED CASH FLOW STATEMENT FOR THE PERIOD FROM 1 JANUARY 2012 TO 31 DECEMBER 2012
CONSOLIDATED CASH FLOW STATEMENT / NOTE / From 01.01.2012 to 31.12.2012 / From 01.01.2011 to 31.12.2011TPLN / TPLN
A. Cash flows from operating activities – the indirect method
I. Profit (loss) before tax (as per profit and loss account) / 336,471 / 163,930
of which profit before tax from discontinued activities / -8 / 30,010
II. Total adjustments / 76,584 / -7,262
1. Surplus of the acquiring entity's share in the net assets of a subsidiary over the cost of merger / - / -
2. Depreciation and amortization / 128,384 / 107,754
3. (Earnings) losses from translation adjustments / -4,310 / 767
4. Interest and share in profit (dividends) / 12,844 / 21,085
5. (Profit) loss from investing activities / 8,349 / 4,165
6. Movements in reserves / 42 / 59,360 / -20,690
7. Movements in inventories / 42 / -42,113 / -23,773
8. Movements in receivables / 42 / -95,259 / -205,150
9. Movements in current liabilities, except loans and borrowings / 42 / 74,480 / 132,189
10. Income tax paid / -64,380 / -34,255
11. Movements in prepayments and accruals / 42 / -399 / 9,248
12. Other adjustments / -372 / 1,398
III. Net cash flows from operating activities (I+/-II) / 413,055 / 156,667
of which net cash flows from discontinued activities / - / 4,393
B. Cash flow from investing activities
I. Receipts / 15,415 / 32,937
1. Disposal of intangible and tangible fixed assets / 1,803 / 3,701
2. Disposal of investments in real property and in intangible / - / -
3. From financial assets, of which: / 1,940 / 29,236
a) in associates / 955 / 21,686
- disposal of financial assets / 713 / 1,400
- dividends and share in profit / 242 / -
- repayment of long-term and short-term loans granted / - / 20,000
- interest / - / 286
- other receipts from financial assets / - / -
b) in other entities / 985 / 7,551
- disposal of financial assets / - / 2,838
- dividends and share in profit / - / -
- repayment of long-term and short-term loans granted / 930 / 3,489
- interest / 55 / 915
- other receipts from financial assets / - / 309
4. Other receipts from investments / 11,672 / -
II. Expenditure / 208,966 / 293,950
1. Acquisition of intangible assets and tangible fixed assets / 182,343 / 143,295
2. Investments in real property and intangible assets / - / -
3. For financial assets, of which: / 26,115 / 150,655
a) in associates / 26,115 / 140,240
- acquisition of financial assets / 42 / 24,965 / 130,240
- long-term and short-term loans granted / 1,150 / 10,000
b) in other entities / - / 10,415
- acquisition of financial assets / - / -
- long-term and short-term loans granted / - / 10,415
4. Dividends and other share in profit paid to minorities / - / -
5. Other investment expenditure / 509 / -
III. Net cash flows from investing activities (I-II) / -193,551 / -261,012
of which net cash flows from discontinued investments / - / 5,428
C. Cash flow from financing activities
I. Receipts / 66,409 / 241,223
1. Net receipts from issuance of stocks (shares) and other capital instruments and from capital contributions / - / -
2. Loans and borrowings, of which: / 20,000 / 239,560
borrowings from associates / 20,000 / 14,500
3. Issuance of debt securities / - / -
4. Other financial receipts / 46,409 / 1,663
II. Expenditure / 140,429 / 212,649
1. Acquisition of own stocks (shares) / - / 1,400
2. Dividends and other payments to shareholders / - / 86,050
3. Profit distribution expenditure other than payments to shareholders / - / -
4. Repayment of loans and borrowings, of which: / 109,293 / 97,451
repayment of loans and borrowings from associates / 15,000 / 10,809
5. Redemption of debt securities / - / -
6. Due to other financing payables / 2,472 / -
7. Payment of liabilities arising from financial leases / 12,413 / 2,540
8. Interest, of which: / 15,444 / 11,731
interest paid to associates / 266 / 147
9. Other financial expenditure / 807 / 13,476
III. Net cash flows from financing activities (I-II) / -74,020 / 28,574
of which net cash flows from discontinued financing / - / -21,698
D. Total net cash flow (A.III+/-B.III+/-C.III) / 145,484 / -75,771
E. Movements in cash balance, of which: / 145,484 / -75,771
F. Cash at the beginning of the period / 42 / 38,016 / 113,787
G. Cash at the end of the period (F+/-D) / 183,500 / 38,016
The financial statements were approved by the Management Board of the Company on 05 April 2013 and signed on behalf of the Management Board by:
Waldemar Łaski - President of the Management BoardBeata Zawiszowska - Vice-President of the Management Board
Ireneusz Tomecki - Vice-President of the Management Board
Adam Wojciechowski - Vice-President of the Management Board
Ryszard Bednarz - Vice-President of the Management Board
Katowice, 05 April 2013
EXPLANATORY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DRAWN UP AS AT 31 DECEMBER 2012
1.GENERAL INFORMATION
The consolidated financial statements incorporate the separate financial statements of FAMUR S.A. and its Subsidiaries.
- Composition of the Entity's authorities as at 31.12.2012
The Management Board of FAMUR S.A.:
As at 31.12.2012 the Management Board was composed of:
Waldemar Łaski- President of the Management Board
Ryszard Bednarz- Vice-President of the Management Board
Beata Zawiszowska- Vice-President of the Management Board
Ireneusz Tomecki- Vice-President of the Management Board
Adam Wojciechowski- Vice-President of the Management Board
The Supervisory Board of FAMUR S.A.
As at 31.12.2012 the Supervisory Board was composed of:
Tomasz Domogała- Chairman of the Supervisory Board
Jacek Domogała - Vice-Chairman of the Supervisory Board
Jacek Osowski- Member of the Supervisory Board
Czesław Kisiel- Member of the Supervisory Board
Tadeusz Uhl - Secretary of the Supervisory Board
- Changes in the composition of the Supervisory Board of the Company FAMUR S.A.:
As at 01.01.2012 the Management Board was composed of:
Waldemar Łaski- President of the Management Board
Ryszard Bednarz- Vice-President of the Management Board
Beata Zawiszowska- Vice-President of the Management Board
Ireneusz Tomecki Vice-President of the Management Board
Adam Wojciechowski- Vice-President of the Management Board
Jarosław Fotyga- Vice-President of the Management Board
As of 10 May 2012 the Supervisory Board of FAMUR SA removed Mr Jarosław Fotyga from his position as Vice-President of the Management Board of FAMUR SA. The Supervisory Board did not specify the reasons for his removal.
- Changes in the Supervisory Board of the Company FAMUR S.A.
No changes in the composition of the Supervisory Board of FAMUR SA occurred in 2012.
- Term of the Entity:
Unlimited.
- The consolidated annual financial statements of FAMUR Group were prepared on a going-concern basis for the foreseeable future and upon the assumption that there are no circumstances indicating a threat to going concern.
- These consolidated financial statements were drawn up as at 31.12.2012 in compliance with the principles of the International Accounting Standards as adopted by the EU. The consolidated statement of financial position including notes was drawn up as at 31.12.2012, and for the comparative period as at 31.12.2011. The consolidated profit and loss account, consolidated statement of comprehensive income, consolidated statement of changes in equity, consolidated cash flow statement including notes were drawn up for the period from 01.01.2012 to 31.12.2012, as for the comparative period from 01.01.2011 to 31.12.2011. The statements are denominated in thousands of Polish zlotys (TPLN).
- The consolidated annual financial statements of FAMUR Group, according to the Articles of Association of the Parent Company, are approved by the General Meeting of Shareholders.
- The Management Board signs and submits the consolidated financial statements of FAMUR Group including the opinion and report of statutory auditor to the Supervisory Board for evaluation.
- The date of approval of the consolidated financial statements is the date of its approval by the management of the Parent Company for submission to members of the Supervisory Board. Until they are approved for publication the financial statements can still be revised.
Description of the organisation of FAMUR Group
As at 31.12.2012 the Group was formed by the following entities:
Structure of the Capital Group as at 31.12.2012.
Particulars of the Parent Company:
Name: FAMUR Spółka Akcyjna (FAMUR Joint Stock Company)
Registered address: Katowice, (40-698) ul. Armii Krajowej 51
Registration authority: District Court in Katowice - Commercial Division of the National Court Register (KRS), KRS No. 0000048716
List of consolidated entities forming part of the Capital Group as at 31.12.2012:
While preparing the consolidated financial statements for 2012 the following Companies were consolidated:
-Nowosądecka Fabryka Urządzeń Górniczych "Nowomag" S.A.
Registered address: Nowy Sącz, ul. Jana Pawła II 27. Subsidiary, 100% share in capital and number of votes
Tel. 018/ 443-80-69
Fax 018/ 443-89-21
e-mail:
Business registration number (REGON): 490019468
Tax identification no. (NIP): 734-001-05-44
-Fabryka Zmechanizowanych Obudów Ścianowych "FAZOS" S.A.
Registered address: Tarnowskie Góry, ul. Zagórska 167. Subsidiary, 100% share in capital and number of votes
Tel. 032/ 768-32-17 through 20