Skonsolidowany raport kwartalny QSr 3 / 2011

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1 GROCLIN QSr 3/2011 skorygowany KOMISJA NADZORU FINANSOWEGO Skonsolidowany raport kwartalny QSr 3 / 2011 kwartał / rok (zgodnie z 82 ust. 2 i 83 ust. 1 Rozporządzenia Ministra Finansów z dnia 19 lutego 2009 r. Dz. U. Nr 33, poz. 259) dla emitentów papierów wartościowych prowadzących działalność wytwórczą, budowlaną, handlową lub usługową za 3 kwartał roku obrotowego 2011 obejmujący okres od do zawierający skrócone skonsolidowane sprawozdanie finansowe według MSSF w walucie zł oraz skrócone sprawozdani e finansowe według MSSF w walucie zł data przekazania: INTER GROCLIN AUTO S.A. (pełna nazwa emitenta) GROCLIN Motoryzacyjny (mot) (skrócona nazwa emitenta) (sektor wg klasyfikacji GPW w Warszawie / branża) Wolsztyn Wolsztyn Karpicko (kod pocztowy) (miejscowość) ul. Jeziorna 3 (ulica) (numer) (skrócona nazwa emitenta) (sektor wg klasyfikacji GPW w Warszawie / branża) groclin@groclin.com.pl (e mail) (www) (NIP) (REGON) WYBRANE DANE FINANSOWE Dane dotyczące grupy kapitałowej w tys. zł 3 kwartał(y) narastająco / 2011 okres od do kwartał(y) narastająco / 2010 okres od do w tys. EUR 1 kwartał(y) narastająco / 2011 okres od do kwartał(y) narastająco / 2010 okres od do I. Przychody ze sprzedaży II. Zysk (strata) z działalności operacyjnej III. Zysk (strata) przed opodatkowaniem IV Zysk (strata) netto przypadający akcjonariuszom podmiotu. dominującego V. Środki pieniężne netto z działalności operacyjnej VI. Środki pieniężne netto wykorzystane w działalności inwestycyjnej VII. Środki pieniężne netto z działalności finansowej VIII. Aktywa razem IX. Zobowiązania długoterminowe X. Zobowiązania krótkoterminowe XI. Kapitał własny XII. Kapitał podstawowy XIII. Liczba akcji XIV. Zysk (strata) na jedną akcję zwykłą (w zł / EUR) 0,11 0,05 0,03 0,01 XV. Wartość księgowa na jedną akcję (w zł / EUR) 34,13 33,49 7,74 8,46 Dane dotyczące jednostki dominującej S.A. XVI. Przychody ze sprzedaży XVII. Zysk (strata) z działalności operacyjnej XVIII. Zysk (strata) przed opodatkowaniem XIX. Zysk (strata) netto z działalności kontynuowanej XX. Środki pieniężne netto z działalności operacyjnej XXI. Środki pieniężne netto wykorzystane w działalności inwestycyjnej XXII. Środki pieniężne netto z działalności finansowej XXIII. Aktywa razem XXIV. Zobowiązania długoterminowe XXV. Zobowiązania krótkoterminowe XXVI. Kapitał własny XXVII. Kapitał podstawowy XXVIII. Liczba akcji XXIX. Zysk (strata) na jedną akcję zwykłą (w zł / EUR) 0,03 0,27 0,01 0,07 XXX. Wartość księgowa na jedną akcję (w zł / EUR) 44,96 44,93 10,19 11,35 Komisja Nadzoru Finansowego

2 GROCLIN QSr 3/2011 W przypadku prezentowania wybranych danych finansowych z kwartalnej informacji finansowej dane te należy odpowiednio opisać. Wybrane dane fi nansowe ze skonsolidowanego bilansu (skonsolidowanego sprawozdania z sytuacji finansowej) lub odpowiednio z bilansu (sprawozdania z sytuacji finansowej) prezentuje się na koni ec bi eżącego kwartału i koniec poprzedniego roku obrotowego, co należy odpowiednio opisać. Raport powinien zostać przekazany Komisji Nadzoru Finansowego, spółce prowadzącej rynek regulowany oraz do publicznej wiadomości za pośrednictwem agencji informacyjnej zgodnie z przepisami prawa. ZAWARTOŚĆ RAPORTU Plik QSr_3_2011_ESPI.pdf Opis Skonsolidowany rozszerzony raport kwartalny grupy kapitałowej wraz z komentarzem. PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ Data mię i Nazwisko Stanowisko/Funkcja Podpis Zbigniew Drzymała Prezes Zarządu Zbigniew Drzymała Mirosława Doliwa Wiceprezes Zarządu ds. ekonomiczno finansowych Mirosława Doliwa Barbara Sikorska Wiceprezes Zarządu ds. handlowych Barbara Sikorska Halina Głuszak Dyrektor ds. finansowych Halina Głuszak Komisja Nadzoru Finansowego 2

3 Consolidated, extended quarter report of the capital group for the III rd quarter 2011 Grodzisk Wlkp., November 2011 Financial Supervisory Committee 1

4 Contents: 1. Description of the capital group organization The rules accepted when preparing the report Significant changes of the estimated values Brief description of the capital group achievements in the III rd quarter Change of the payables payment date Investments to the tangible fixed assets and intangible fixed assets Share exchange rate Employment caiptal group sale revenues Basic indicators The factors and events having a significant influence to the results achieved in the III rd quarter The emitter activity seasonal character or periodicity in the presented period The information about emission, repurchase and repayment of the indebted and capital securities Paid (or declared) dividend in total and per one share, with the division to normal and preferential shares The information about the events that occurred followed by the day for which the quarter consolidated financial report was made, not included in this report and that could significantly influence future group results Changes of the conditional payables or assets that occurred since the end of the last current year Results of the changes in the economic unit structure within a semester Realization of the financial results forecast The information about the shareholders having, directly or indirectly, by the dependent subjects, at least 5% of the total number of votes in the S.A. General Meeting The information about the status of being in the possession of the emitter shares or rights to the shares (options) by the managing and supervising people The information about the proceedings for the liabilities or receivables of the emitter or the units that depend on him, running in the III rd quarter 2011 in the court, authority appropriate for the arbitrary proceeding or public administration authority Concluding one or more transactions by the emitter or the units that depend on him with the associated subjects if they are important (individually or mutually) and were concluded on the basis of different conditions than the market ones The information about granting, by S.A. or the units that depend on it, the credit or loan warranties or granting a guarantee Indicating the factors that, in the emitter opinion, will have the influence on the results achieved by him in the view of at least next quarter Applied EUR exchange rates Comment to the brief financial report for the III rd quarter 2011 of the dominant unit The rules accepted when preparing the report Significant changes of the estimated values Financial results Financial Supervisory Committee 2

5 Comment to the consolidated report for the III rd quarter 2011 Consolidated report on the total income of the capital group Calculation variant till till for the period till till Continued activity Sale revenues Revenues on sales of products and services Revenues on sales of goods and materials Sale own cost (cost of sold products, services, goods and materials) Cost of sold products and services Cost of sold goods and materials Gross profit (loss) on sale Sale costs Administrative costs Other operating revenues Other operating costs Profit (loss) on operating activity Financial revenues Financial costs Other profits (losses) on investments 0 0 Profit (loss) before taxation Income tax Net profit (loss) on continued activity Stopped activity Net loss on the stopped activity Net profit (loss) Other total income till till till till - exchange rate differences counting foreign units results of the valuation of the financial assets available for sale - security accountancy - results of the fixed assets' update - profits and losses for the previous year - income tax on the other, total income Other total income (net) Total income: Net profit (loss) for one normal share: till till till till on the continued activity - basic and weakened -0,23-0,11 0,02 0,05 on the continued and stopped activity - basic and weakened -0,23-0,11 0,02 0,05 Net profit (loss), of which the one for: till till till till - shareholders of the dominant subject minority shareholders Financial Supervisory Committee 3

6 Consolidated report on the financial situation of the capital group Assets for FIXED ASSETS Intangible fixed assets Company value of the submitted units Tangible fixed assets Investment properties Long term financial assets available for sale Other long term financial assets Long term receivables Assets on deferred income tax CURRENT ASSETS Inventories Receivables in virtue of deliveries and services Receivables in virtue of the current income tax Other short term receivables Short term financial assets available for sale Short term financial assets designed for turnover Other short term financial assets Cash and its equivalents Fixed assets classified as designed for sale TOTAL ASSETS Equity and payables for EQUITY Company capital Reserve capital Capital revaluation Own shares Reserve capitals Foreign exchange variances The amounts included directly in the capital and referring to the fixed assets designed for sale Profit (loss) previous years and current year Equity for the dominant unit shareholders Shares out of control PAYABLES Long term payables Long term credits and loans Other long term financial payables 4 21 Other long term payables Reserve on deferred income tax Reserves for payables in virtue of working benefits Other long term reserves Short term payables Short term credits and loans Other short term financial payables Payables in virtue of deliveries and services Payables in virtue of current income tax Other short term payables Reserves for payables in virtue of working benefits Short term reserves Payables connected with the fixed assets classified as designed for sale FUTURE PERIODS' REVENUES Long term future periods' revenues Short term future periods' revenues TOTAL LIABILITIES Financial Supervisory Committee 4

7 Consolidated report on the cash flow of the capital group Indirect method till for the period till Cash flows operating activity Profit before taxation Corrections: Amortization of intangible fixed assets Revaluation deductions in virtue of the company value loss Amortization of fixed assets Revaluation deductions in virtue of the loss of tangible fixed assets' value (Profit) loss on sale of intangible fixed assets (Profit) loss on sale of the financial assets available for sale Profits (losses) on the valuation of the investment properties according to the fair value (Profits) losses on the fair value change of the financial assets indicated according to the fair value Costs of interests (Profit) loss on the sale of the shares in the associated units Deduction of the company negative value Received interests Received dividends Cash operating activity before taking into consideration the changes in current capital Change of the inventories' status Change of the receivables' status Change of the payables' status Change of the reserves' status Other corrections Cash generated during the operating activity Paid interests Paid income tax Net cash the operating activity Cash flows the investment activity Costs for purchasing intangible fixed assets Receipts the sale of intangible fixed assets Costs for purchasing tangible fixed assets Receipts the sale of tangible fixed assets Costs for purchasing financial assets available for sale -653 Receipts the sale of financial assets available for sale 36 Costs for purchasing financial assets designed for turnover Receipts the sale of financial assets designed for turnover Costs for purchasing dependant units (reduced by taken over cash) Receipts the sale of dependant units Receipts the received government allocations Granted loans Received payments of granted loans Received interests Received dividends Net cash used in the investment activity Cash flows the financial activity Net receipts in virtue of the shares emission Own shares' purchasing Receipts in virtue of the emission of debentures Repurchase of debentures Receipts in virtue of negotiating credits and loans Payments of credits and loans Payment of payables in virtue of the financial leasing Paid dividends Net cash the financial activity Net increasing (decreasing) of the cash and cash equivalents' status Cash and its equivalents at the beginning of the period Change of the cash and its equivalents' status in virtue of the exchange rate differences Cash and its equivalents at the end of the period Financial Supervisory Committee 5

8 Consolidated list of changes in the equity of the capital group Specification Company capital Reserve capital Capital revaluation Other reserve capitals Exchange rate differences counting Indivisible financial result Total equities Status at the beginning of the previous period (for ) Changes of the accountancy rules (policy) 0 0 Correction of basic faults 0 0 Balance followed by changes List of changes in equity in the previous period Profits (losses) in virtue of revaluation 0 0 Investments available for sale: profits (losses) in virtue of valuation transferred to equity transferred to the profit (loss) on sale 0 0 Instruments securing cash flows: profits (losses) transferred to equity profits (losses) transferred to the period financial result profits (losses) taken into consideration in the balance value valuation of the secured items 0 0 Exchange rate differences the valuation of the units acting abroad Tax connected with the items presented in the capital or transferred the capital 0 0 Net profit presented directly in equity Net profit for the previous period Net profit of the current year Sum of profits and losses included in the previous period consolidation correction - the companies' merger 0 0 Emitted company capital 0 0 Sale of the dependant unit shares 0 0 Covering the dependant unit by consolidation 0 0 Fixed assets' sale 0 0 Status at the end of the previous period (for ) Status at the beginning of the reporting period (for ) Changes in the accountancy rules (policy) 0 0 Correction of basic faults 0 0 Balance followed by changes Equities Minority shares Total equity Financial Supervisory Committee 6

9 List of changes in equity in the reporting period Profits (losses) in virtue of revaluation 0 0 Investments available for sale: profits in virtue of revaluation transferred to equity transferred to the profit (loss) on sale 0 0 Instruments securing cash flows: profits (losses) transferred to equity profits (losses) transferred to the period financial result profits (losses) taken into consideration in the balance value valuation of the secured items 0 0 Exchange rate differences the valuation of the units acting abroad Tax connected with the items presented in the capital or transferred the capital 0 0 Net profit presented directly in equity Net profit for the previous period Net profit of the current year Sum of profits and losses included in the reporting period Dividends 0 0 Emitted equity 0 0 Emitted options replaceable for shares 0 0 Covering by the consolidation of the dependant unit 0 0 Sale of the fixed assets 0 0 Status at the end of the reporting period (for ) Financial Supervisory Committee 7

10 Specification Segments Consolidated Automotive Other Exclusions value segment segments Financial results of the branch segments for the period till Total revenues Outside sale Sale between the segments Segment results Not assigned revenues Not assigned costs Net loss on the stopped activity sale Profit on the operating activity Financial revenues 179 Financial costs Profit / loss on the shares' sale Profit before taxation Income tax -392 Shares of the minority Net profit -632 Other information concerning branch segments for the period till Consolidated total assets Segment assets Investment in the associated units 0 Not assigned assets of the whole group Consolidated total liabilities Segment liabilities Not assigned liabilities of the whole group Investment costs tangible fixed assets intangible fixed assets investment properties 0 Amortization of tangible fixed assets Amortization of intangible fixed assets Revaluation deductions in virtue of the value loss 0 Other non-cash costs 0 Financial results of the branch segments for the period till Total revenues Outside sale Sale between the segments Segment result Not assigned revenues 535 Not assigned costs Net loss on the stopped activity sale Profit on the operating activity Financial revenues 808 Financial costs Profit / loss on the shares' sale Profit before taxation 997 Income tax -696 Shares of the minority Net profit 301 Other information concerning branch segments for the period till Consolidated total assets Segment assets Investments in the associated units 0 Not assigned assets of the whole group Consolidated total liabilities Segment liabilities Not assigned liabilities of the whole group Investment costs tangible fixed assets intangible fixed assets 0 - investment properties 0 Amortization of tangible fixed assets Amortization of intangible fixed assets Revaluation deductions in virtue of the value loss 0 Other non-cash costs 0 Financial Supervisory Committee 8

11 GEOGRAPHICAL SEGMENTS Financial results of the geographical segments for the period till Specification Holland Sweden Germany United Kingdom France Other countries Poland Total Revenues external customers Financial results of the geographical segments for the period till Specification Holland Sweden Germany United Kingdom France Other countries Poland Total Revenues external customers MAIN CUSTOMERS, period till Specification Received revenues Segment CUSTOMER automotive CUSTOMER automotive On the basis of the regulation 87 of the Cabinet Ordinance dated 19 February 2009 (Dz. U. no. 33, item 259) the S.A. Management Board present: 1. Description of the capital group Dominant unit S.A. with its registered seat in Karpicko, Jeziorna 3, Wolsztyn, Management Board seat: Grodzisk Wlkp., Slowianska 4, Grodzisk Wlkp. Dependant units according to the status for : Dependant unit Groclin Karpaty Sp. z o.o. with its registered seat in Uzgorod, Zakarpacki District, Ukraine, Slowianska Nadberezna 31, Uzgorod. Dependant unit Groclin Dolina Sp. z o.o. with its registered seat in Dolina, Iwanofrankowski District, Dolinski Region, Ukraine, Gruszewskiego 11, Dolina. Dependant unit Groclin Service Sp. z o.o. with its registered seat in Nowa Sol, Wojska Polskiego 34, Nowa Sol. Dependant unit Centre of Sport Development Groclin Sp. o.o. with its registered seat in Grodzisk Wlkp., Sportowa 2, Grodzisk Wlkp. According to the status for S.A. had: 99,98 % shares in the statutory fund in Groclin Karpaty Sp. z o.o., 99,99 % shares in the statutory fund in Groclin Dolina Sp. z o.o., shares of the nominal value of PLN 100,00 each in Groclin Service Sp. z o.o., which is 100% of the initial capital and votes in the Groclin Service Sp. z o.o. Meeting of Shareholders, 2 shares of the nominal value of PLN 100,00 each in Fabryka Tapicerki Samochodowej Fatsa Sp. z o.o., which is 0,4% of the initial capital and votes in the Fabryka Tapicerki Samochodowej Fatsa Sp. z o.o. Meeting of Shareholders, 100 shares of the value of PLN 50,00 each in the Centre of Sport Development Groclin Sp. z o.o., which is 100% of the initial capital and votes in the Centre of Sport Development Groclin Sp. z o.o. Meeting of Shareholders Financial Supervisory Committee 9

12 Dominant unit S.A. is a manufacturer of the car equipment and accessories, including mainly car seats, car seat covers as well as upholstery furniture and its covers. The company also offers hotel services together will full package of sport and rehabilitation services. The dependant units activity subject of Groclin Karpaty Sp. z o.o. and Groclin Service Sp. z o.o. is manufacturing of car seat covers. Groclin Dolina Sp. z o.o. is under construction. The activity subject of the Centre of Sport Development Groclin Sp. z o.o. is a non profit activity in order to make sport among children and youths more popular through making available and running the sport complex together with hotel and boarding school basis as well as medical centre in Grodzisk Wlkp., intended especially to organize trainings and sport camps. The company foundation is connected with deinvestment plans in this scope of operation. The company didn t run any activity for. The capital group operates in the field of manufacturing products and services, foreign trade in the field of the raw materials, materials and investment s import as well as products and services export. Taking strategic decisions concerning production, commercial and investment development, including the decisions concerning capital involvement in new enterprises, is one of the tasks of the capital group managing organs. The dominant subject coordinates the dependent units activities and is also responsible for coordinating the financial policy as well as organization of the capital group units activity. Independently on performing the management and ownership control function, the company authorities engage in running the dependent units operational activity. 2. The rules accepted when preparing the report Legal basis Since 1 January 2005 the capital group runs the accountancy and prepares the financial report according to the International Standards of the Financial Reporting issued by the International Accounting Standards Board (IASB). The data was prepared using the rule of the assets and liabilities pricing as well as measuring the net financial result defined for the balance day taking into consideration the corrections in virtue of reserves, reserve and assets on deferred income tax as well as deductions revaluating the assets elements value. Accountancy rules and methods used while preparing the financial report were defined in the additional information for the I st semester 2010 in detail. 3. Significant changes of the estimated values In the III rd quarter 2011 the capital group: increased the assets on deferred income tax by PLN 12 thousand, decreased the reserve on deferred income tax by PLN 496 thousand, increased the reserves for future commitments by PLN 114 thousand, decreased the reserve for future commitments by PLN 96 thousand, reversed the deduction on restoring the assets for PLN 39 thousand, made a deduction in virtue of the assets value loss for PLN 4 thousand. Financial Supervisory Committee 10

13 4. Brief description of the capital group in the III rd quarter 2011 The negotiations leading to source the contracts of the branches, that absorb maximum dimension of the added value as well as starting in the branches that generate the demand for large productions areas, are still continued. The company realized the schedule of introducing new projects according to the plan. It also realized its declarations towards new customers punctually. The process of the employees training in the field of the new models manufacturing as well as Lean Manufacturing practices implementing was also according to the schedule. It should be mentioned that the processes are capital receptive. It was reflected in the costs. 4.1 Change of the payables payment date In the III rd quarter 2011 the annexes to the below mentioned factoring agreements concluded with BZ WBK Faktor Sp. z o.o. were signed: 1) Annex no. 10 dated 8 July 2011 to the factoring agreement no. 603/791/2008 dated 3 June 2008 with subsequent changes (foreign supplies financing credit limit of the customer, i.e. IGA S.A. PLN ,00). 2) Annex no. 4 dated 8 July 2011 to the factoring agreement no. 876/1123/2009 dated 17 December 2009 with subsequent changes (factorant, IGA, limit PLN ,00). On the basis of the annex no. 4 and annex no. 10 the period of the agreements effectiveness was prolonged till 29 February Investments to the tangible fixed assets and intangible fixed assets The investments value for the tangible fixed assets purchases of the capital group in the III rd quarter 2011 was PLN 531 thousand. 4.3 Share exchange rate The average Groclin exchange rate in the III rd quarter 2011 was PLN 15,69, the minimum exchange rate in the analyzed period was PLN 11,20, and the maximum exchange rate was at the level of PLN 21,81. Financial Supervisory Committee 11

14 Kurs akcji IGA S.A. w okresie III kwartału 2011 r Employment At the end of the III rd quarter 2011 the employment status in the capital group was people and was lower by 20 people comparing to the status at the end of the II nd quarter The employment reduction was possible thanks to implementing modern organization methods of the production processes that increase job efficiency. 4.5 capital group sale revenues In the III rd quarter 2011 the sale revenues were PLN thousand and were higher by 27,0 % comparing to the revenues of the same period of the previous year. In the EUR currency the revenues for the III rd quarter 2011 were thousand and were higher by 21,3 % than the result the same period of the previous year. The observed, dynamic increase of the revenues is a consequence of introducing the production and supplies to the new customers as well as is the materialisation of the Management Board efforts leading to the increase of the orders package as well as the products sale contraction. In the analyzed period the NBP exchange rate for EUR counted the last days of the months of the III rd quarter 2011 was at the level of PLN 4,1894, comparing to the same period of 2010 the level was PLN 3,9996. capital group sale revenues (in PLN thousands) ,09% % ,02% % 0 III Q 2011 III Q 2010 I-III Q 2011 I-III Q 2010 period Financial Supervisory Committee 12

15 capital group sale revenues (in EUR thousands) ,83% % ,27% % IIIQ 2011 III Q 2010 I-III Q 2011 I-III Q 2010 period Sale of the capital group products is directed both to export and local market. In the III rd quarter 2011, 56,7 % products and services was directed to foreign markets and the increased share of the local market is connected with the products sale to Polish factories belonging to the international car concerns. The dominant export directions in the analyzed period were the following countries: United Kingdom, Sweden, France, Germany, Holland what is presented in the below chart. Structure of the export, III-rd quarter 2011 Wielka Brytania; 33,7% Pozostałe; 4,4% Szwecja; 24,1% Francja; 18,7% Holandia; 6,3% Niemcy; 12,8% 4.6 Basic indicators Financial fluctuation indicators of the capital group Name of the indicator Calculating formula 1. Current fluctuation 2. Cash fluctuation indicator current assets short term payables short term investments short term payables 0,90 0,94 0,07 0,21 Financial Supervisory Committee 13

16 3. Covering the payables by receivables short term receivables short term payables 0,52 0,54 Indicators of the capital group activity financing Name of the indicator Calculating formula 1. Debt ratio 2. Covering the debt by own capitals 3. Covering the fixed assets by constant capital long term and short term payables total liabilities own capitals foreign capitals* own capitals + long term payables fixed assets Reliability indicators of the capital group 0,32 0,31 1,87 1,95 0,92 0,93 Name of the indicator Calculating formula Gross margin on sale gross profit on sale net sale 10,00% 10,77% 2. Gross profitability gross profit / loss net sale 0,76% 0,98% 3. Net profitability net profit / loss net sale 0,47% 0,29% * foreign capitals = total liabilities own capital Basic indicators of the financial fluctuation and financing the activity were at approximate level comparing to the same period of the previous year. The level of the fluctuation indicators according to the status for guarantees punctual settlement of the commitments to the company. The debt indicators are also correct and this promises lack of difficulties. The reliability indicators changed the most significantly. Gross margin on sale remained at the level comparable to the same period of the previous year. The remaining indicators shaped negatively. This was connected with large, statistical, negative EUR / PLN exchange rate differences the balance valuation for. The following were decreased: gross profitability by 1,73 % net profitability by 0,76 % 5. The factors and events having a significant influence to the results achieved in the III rd quarter 2011 It should be noted that the shaping of the exchange rate differences balance significantly influenced the capital group results achieved in the III rd quarter This should be deemed as the factor independent on the enterprise. Financial Supervisory Committee 14

17 In the field of the factors dependant on the company the positive results of introducing the changes in the production management system were achieved. In the particular field the financial results were as follows: gross profit on sale in the amount of PLN thousand, profit on the operating activity in the amount of PLN thousand, gross loss was PLN thousand. The final net result was featured by the loss in the amount of PLN thousand. This was influenced by shaping the balance of the EUR / PLN negative exchange rate differences the balance value for. 6. The emitter activity seasonal character or periodicity in the presented period The capital group companies acting in the sector of the companies connected with foreign and partially local automotive industry are characterized by the sale seasonal character. In the III rd quarter 2011 there was no sale seasonal character. 7. The information about emission, repurchase and repayment of the indebted and capital securities In the III rd quarter 2011 the capital group didn t emit, repurchase and repay any indebted and capital securities. 8. Paid (or declared) dividend in total and per one share, with the division to normal and preferential shares In the III rd quarter 2011 S.A. didn t pay and declare the dividend payment. 9. The information about the events that occurred followed by the day for which the quarter consolidated financial report was made, not included in this report and that could significantly influence future group results Followed by the day, for which the consolidated financial report was made, there were no events, not included in this report, that could significantly influence future company results. 10. Changes of the conditional payables or assets that occurred since the end of the last current year in thousands of PLN status for status for Conditional payables On behalf of associated units (in virtue) 0 0 of the granted guarantees and warranties 1.2. On behalf of other companies (in virtue) Financial Supervisory Committee 15

18 of the granted guarantees and warranties Conditional items, total Results of the changes in the economic unit structure within a semester In the III rd quarter 2011 there were no changes in the economic unit structure. 12. Realization of the financial results forecast capital group didn t publish the financial results forecast for the III rd quarter The information about the shareholders having, directly or indirectly, by the dependent subjects, at least 5% of the total number of votes in the S.A. General Meeting According to the status for , Mr. Zbigniew Drzymała and Mrs. Maria Drzymała are the shareholders having at least 5% of the total number of votes in the S.A. General Meeting. Mr. Zbigniew Drzymała has shares which is 26,81% of the S.A. initial capital, including shares preferential five times to the vote, which is votes in total and is 42,73% votes in the S.A. General Meeting. Mrs. Maria Drzymała has company shares which is 26,81% of the company initial capital, and has the right to votes in the company general meeting of shareholders, which is 20,98% of the total number of votes. There were no changes in the ownership structure of the significant packages of the emitter shares within the period providing the previous periodical report, i.e. comparing to the status for The information about the status of being in the possession of the emitter shares or rights to the shares (options) by the managing and supervising people According to the information being in the possession of the company, there were no changes in the S.A. shares possession status as well as there were no changes of the rights to them by the managing and supervising people the time of providing the previous report, i.e. comparing to the status for According to the status for the managing and supervising people had the following number of the S.A. shares: Financial Supervisory Committee 16

19 Management Board members Zbigniew Drzymała Number of shares Type of shares Status for including: of A series preferential five times to the vote of B and C series normal to the bearer Mirosława Doliwa Barbara Sikorska 5 normal to the bearer Supervisory Board members Number of shares Status for Type of shares Waldemar Frąckowiak Wojciech Witkowski 900 including: 100 of A series preferential five times to the vote 800 of B series normal to the bearer Janusz Brzeziński Monika Drzymała Krzysztof Jordan 15. The information about the proceedings for the liabilities or receivables of the emitter or the units that depend on him, running in the III rd quarter 2011 in the court, authority appropriate for the arbitrary proceeding or public administration authority In the III rd quarter 2011 there were no proceedings in the court, authority appropriate for the arbitrary proceeding or public administration authority, for the liabilities or receivables of Inter Groclin Auto S.A. or the units that depends on it, the total value of which would constitute at least 10% of the S.A. own capitals. 16. Concluding one or more transactions by the emitter or the units that depend on him with the associated subjects if they are important (individually or mutually) and were concluded on the basis of different conditions than the market ones In the III rd quarter 2011 the emitter and the units that depend on him didn t conclude any transactions, with the associated subjects, that were significant and were concluded on the basis of different conditions than the market ones. Financial Supervisory Committee 17

20 17. The information about granting, by S.A. or the units that depend on it, the credit or loan warranties or granting a guarantee In the III rd quarter 2011 there were no credit and loan warranties as well as guarantee granted, by the emitter or the unit that depends on it, the total value of the existing warranties and guarantees equals at least 10% of the emitter own capitals. 18. Indicating the factors that, in the emitter opinion, will have the influence on the results achieved by him in the view of at least next quarter The basic external factors, that may have a decisive influence on the S.A. future situation, are as follows: shaping the EUR/PLN exchange rate change of the credit commitments conditions increase of the cost factors being regulated by the nation energy, fuel, taxes, etc. economic policy of the nation securing the interest and position of Polish exporters using legal and economic tools decreasing the demand on the automotive branch products the level of the investments in the industry, especially in the automotive branch and automotive components sector constant increase of the competition the local and foreign companies the nation policy and regulations concerning the area of employment and disabled people rehabilitation The main internal factors significant for the enterprise results and activities are as follows: continuation of the changes in the production management system automation of the main engineering processes rationalization of the manufacturing costs in all the elements of the generic system introducing the complex restructuring program including the planned activity in the scope of the cost reduction, engineering changes (testing and introducing modern machines, that allow for more economical use of the possessed production resources, to the machine park) as well as locating production capabilities in the particular dependent units of the capital group high personnel qualifications short distribution channels as well as efficient travelling and promoting activity of the company modern and flexible company production property that ensures large performance mobility in the scope of the offered services introduced and mastered quality assurance system that complies with ISO 9001:2008 increase of the competitive company power in the global market of the suppliers of the components to manufacture cars with relation to the introduced quality systems of the automotive branch ISO/TS 16949:2002 and quality system according to the environmental standards, ISO Financial Supervisory Committee 18

21 19. Applied EUR exchange rates Period: III quarters 2011 The below mentioned exchange rates were assumed to calculate the data in the table Selected financial data PLN to EUR: particular items of the financial situation report were calculated according to the average exchange rate published by Narodowy Bank Polski for the balance day (table no. 190/A/NBP/2011) 1 EUR = 4,4112 particular items of the total income report and cash flow report for the III quarters 2011 were calculated according to the exchange rate being the arithmetic mean of the exchange rates established by Narodowy Bank Polski for EUR the last days of 9 months of the current year EUR = 4,0413 Below are the EUR exchange rates used to calculate the exchange rate being the arithmetic mean. No. of the average exchange rates table Date of publication 1 EUR, average 20/A/NBP/ , /A/NBP/ , /A/NBP/ , /A/NBP/ , /A/NBP/ , /A/NBP/ , /A/NBP/ , /A/NBP/ , /A/NBP/2011 4,4112 The exchange rate being the arithmetic mean 4,0413 Period: III quarters 2010 The below mentioned exchange rates were assumed to calculate the data in the table Selected financial data PLN to EUR: particular items of the financial situation report were calculated according to the average exchange rate published by Narodowy Bank Polski for the balance day (table no. 19/A/NBP/2010) 1 EUR = 3,9870 Financial Supervisory Committee 19

22 particular items of the total income report and cash flow report for III quarters 2010 were calculated according to the exchange rate being the arithmetic mean of the exchange rates established by Narodowy Bank Polski for EUR the last days of 9 months of the current year EUR = 4,0027 Below are the EUR exchange rates used to calculate the exchange rate being the arithmetic mean. No. of the average Date of 1 EUR, average exchange rates table publication 20/A/NBP/ , /A/NBP/ , /A/NBP/ , /A/NBP/ , /A/NBP/ , /A/NBP/ , /A/NBP/ , /A/NBP/ , /A/NBP/2010 3,9870 The exchange rate being the arithmetic mean 4,0027 Financial Supervisory Committee 20

23 Comment to the brief financial report for the III rd quarter 2011 of the dominant unit The report on the total income of the S.A. dominant unit Calculation variant till till for the period till till Continued activity Sale revenues Revenues on sales of products and services Revenues on sales of goods and materials Sale own cost (cost of sold products, services, goods and materials) Cost of sold products and services Cost of sold goods and materials Gross profit (loss) on sale Sale costs Administrative costs Other operating revenues Other operating costs Profit (loss) on operating activity Financial revenues Financial costs Other profits (losses) on investments 0 0 Profit (loss) before taxation Income tax Net profit (loss) on continued activity Stopped activity Net loss on the stopped activity Net profit (loss) Other total income till till till till - exchange rate differences counting foreign units results of the valuation of the financial assets available for sale - security accountancy - results of the fixed assets' update - profits and losses for the previous year - income tax on the other, total income Other total income (net) Total income: Net profit (loss) for one normal share: till till till till on the continued activity - basic and weakened -0,23 0,03 0,07 0,27 on the continued and stopped activity - basic and weakened -0,23 0,03 0,07 0,27 The report on the financial situation of the S.A. dominant unit Financial Supervisory Committee 21

24 Assets for FIXED ASSETS Intangible fixed assets Tangible fixed assets Investment properties Long term financial assets available for sale Other long term financial assets Long term receivables Assets on deferred income tax CURRENT ASSETS Inventories Receivables in virtue of deliveries and services Receivables in virtue of the current income tax Other short term receivables Short term financial assets available for sale Short term financial assets designed for turnover Other short term financial assets Cash and its equivalents Fixed assets classified as designed for sale TOTAL ASSETS Equity and payables for EQUITY Company capital Reserve capital Capital revaluation Own shares Reserve capitals The amounts included directly in the capital and referring to the fixed assets designed for sale Profit (loss) previous years Profit (loss) current year PAYABLES Long term payables Long term credits and loans Other long term financial payables 4 21 Other long term payables Reserve on deferred income tax Reserves for payables in virtue of working benefits Other long term reserves Short term payables Short term credits and loans Other short term financial payables Payables in virtue of deliveries and services Payables in virtue of current income tax Other short term payables Reserves for payables in virtue of working benefits Short term reserves Payables connected with the fixed assets classified as designed for sale FUTURE PERIODS' REVENUES Long term future periods' revenues Short term future periods' revenues TOTAL LIABILITIES Financial Supervisory Committee 22

25 The report on the cash flow of the S.A. dominant unit Indirect method till for the period till Cash flow operating activity Profit before taxation Corrections: Amortization of intangible fixed assets Revaluation deductions in virtue of the company value loss Amortization of fixed assets Revaluation deductions in virtue of the loss of tangible fixed assets' value (Profit) loss on sale of intangible fixed assets (Profit) loss on sale of the financial assets available for sale Profits (losses) on the valuation of the investment properties according to the fair value (Profits) losses on the fair value change of the financial assets indicated according to the fair value Costs of interests (Profit) loss on the sale of the shares in the associated units Deduction of the company negative value Received interests Received dividends Cash operating activity before taking into consideration the changes in current capital Change of the inventories' status Change of the receivables' status Change of the payables' status Change of the reserves' status Other corrections Cash generated during the operating activity Paid interests Paid income tax Net cash the operating activity Cash flows the investment activity Costs for purchasing intangible fixed assets Receipts the sale of intangible fixed assets Costs for purchasing tangible fixed assets Receipts the sale of tangible fixed assets Costs for purchasing financial assets available for sale Receipts the sale of financial assets available for sale Costs for purchasing financial assets designed for turnover Receipts the sale of financial assets designed for turnover Costs for purchasing dependant units (reduced by taken over cash) Receipts the sale of dependant units Receipts the received government allocations Granted loans Received payments of granted loans Received interests Received dividends Net cash used in the investment activity Cash flows the financial activity Net receipts in virtue of the shares emission Own shares' purchasing Receipts in virtue of the emission of debentures Repurchase of debentures Receipts in virtue of negotiating credits and loans Payments of credits and loans Payment of payables in virtue of the financial leasing Paid dividends Net cash the financial activity Net increasing (decreasing) of the cash and cash equivalents' status Cash and its equivalents at the beginning of the period Change of the cash and its equivalents' status in virtue of the exchange rate differences Cash and its equivalents at the end of the period Financial Supervisory Committee 23