Quarterly Report SA-Q 1 / 2009

Transkrypt

1 corrected POLISH FINANCIAL SUPERVISION AUTHORITY Quarterly Report SA-Q 1 / 2009 quarter / year (pursuant to 82, section 1, item 1 of the Regulation of the Minister of Finance as of February 19, 2009 Dz. U. journal of laws no. 33, item 259 ) (for issuers of securities conducting manufacturing, construction, commercial activity or providing services) for 1 st quarter of the financial year 2009 covering the from to submission date: MOSTOSTAL PŁOCK SA MOSTOSTALPLC (shortened name of the Issuer) (full name of the Issuer) Construction industry (bud) (sector according to Warsaw Stock Exchange classification) Płock (postal code) (city) Targowa 12 (street) (number) (telephone number) (fax number) ania@mostostal-plock.com.pl mostostal-plock.com.pl ( ) (www) (NIP Taxpayer ID Number) (REGON Enterprise ID Number) in thousands PLN in thousands EUR WYBRANE DANE SELECTED FINANCIAL FINANSOWE DATA 1 quarter(s) to date 1 quarter(s) to date 1 quarter(s) to date 1 quarter(s) to / 2009 from / 2008 from / 2009 from date / 2008 from to to to to I. Przychody netto ze sprzedaży I. Net income from sales of produktów, towarów i materiałów products, goods and materials II. Zysk (strata) z działalności II. Profit (loss) from operating operacyjnej activities III. Zysk (strata) brutto III. Gross profit (loss) IV. Zysk (strata) netto IV. Net profit (loss) V. Przepływy pieniężne netto z V. Net cash flows from operating działalności operacyjnej activities VI. Przepływy pieniężne netto z VI. Net cash flow on investments działalności inwestycyjnej VII. Przepływy pieniężne netto z VII. Net financial cash flow działalności finansowej VIII. Przepływy pieniężne netto, VIII. Total net cash flow razem IX. Aktywa, razem IX. Total assets X. Zobowiązania i rezerwy na X. Liabilities and provisions for zobowiązania liabilities XI. Zobowiązania długoterminowe XI. Long-term liabilities XII. Zobowiązania XII. Short-term liabilities krótkoterminowe XIII. Kapitał własny XIII. Equity Polish Financial Supervision Authority 1

2 XIV. Kapitał zakładowy XIV. Share capital XV. Liczba akcji (w szt.) XV. Number of shares (pcs.) XVI. Zysk (strata) na jedną akcję XVI. Profit (loss) per ordinary 5,77 7,93 1,25 2,23 zwykłą (w zł/ EUR) share (in PLN/EUR) Rozwodniony zysk (strata) na jedną akcję zwykłą (w zł/eur) Diluted profit (loss) per ordinary share (in PLN/EUR) XVII. Wartość księgowa na jedną XVII. Book value per share (in 30,45 29,25 6,48 8,30 akcję (w zł/eur) PLN/EUR) Rozwodniona wartość księgowa na jedną akcję (w zł/eur) Diluted book value per share (in PLN/EUR) XVIII. Zadeklarowana lub wypłacona dywidenda na jedną akcję (w zł/eur) XVIII. Declared or paid dividend per share (in PLN/EUR) 3,50 5,00 0,74 1,41 ABBREVIATED FINANCIAL STATEMENTS BILANS / BALANCE SHEET as of end of the quarter / in thousands PLN as of the end of the as of previous quarter / end of the previous as of end of the quarter / 2009 year / AKTYWA ASSETS 1. Aktywa trwale 1. Fixed assets Wartości niematerialne i 1. Intangible assets, including: prawne, w tym: 2. Rzeczowe aktywa trwale 2. Tangible assets Inwestycje długoterminowe 3. Long-term investments Długoterminowe aktywa 3.1. Long-term financial assets finansowe a) w jednostkach powiązanych, w tym: - udziały lub akcje w jednostkach podporządkowanych wyceniane a) in affiliated entities, including: shares in subordinate entities valued using the equity method metodą praw własności b) w pozostałych jednostkach b) in other entities Długoterminowe rozliczenia 4. Long-term prepayments and międzyokresowe 4.1. Aktywa z tytułu odroczonego accruals 4.1. Deferred tax assets podatku dochodowego II. Aktywa obrotowe II. Current assets Zapasy 1. Inventory Należności krótkoterminowe 2. Short-term receivables Od jednostek powiązanych 2.1. From affiliated entities Od pozostałych jednostek 2.2. From other entities Inwestycje krótkoterminowe 3. Short-term investments Krótkoterminowe aktywa 3.1 Short-term financial assets finansowe a) środki pieniężne i inne aktywa pieniężne 4. Krótkoterminowe rozliczenia a) cash and other monetary assets 4. Short-term prepayments and międzyokresowe accruals A k t y w a r a z e m T o t a l a s s e t s PASYWA LIABILITIES I. Kapitał własny I. Equity Kapitał zakładowy 1. Share capital Kapitał zapasowy 2. Supplementary capital Kapitał z aktualizacji wyceny 3. Revaluation reserve Pozostałe kapitały rezerwowe 4. Other reserve capitals Zysk (strata) z lat ubiegłych 5. Retained profit (loss) Zysk (strata) netto 6. Net profit (loss) II. Zobowiązania i rezerwy na II. Liabilities and provisions for zobowiązania liabilities 1. Rezerwy na zobowiązania 1. Provisions for liabilities Rezerwa z tytułu 1.1 Provisions for deferred odroczonego podatku dochodowego 1.2. Rezerwa na świadczenia emerytalne i podobne income tax 1.2. Provision for retirement and similar benefits Polish Financial Supervision Authority 2

3 a) długoterminowa a) long-term b) krótkoterminowa b) short-term Zobowiązania długoterminowe 2. Long-term liabilities Wobec pozostałych jednostek 2.1. Towards other entities Zobowiązania krótkoterminowe 3. Short-term liabilities Wobec jednostek 3.1. Towards affiliated entities powiązanych 3.2. Wobec pozostałych jednostek 3.2. Towards other entities Fundusze specjalne 3.3. Special funds Rozliczenia międzyokresowe 4. Prepayments and accruals Inne rozliczenia 4.1. Other prepayments and międzyokresowe accruals a) krótkoterminowe a) short-term P a s y w a r a z e m T o t a l l i a b i l i t i e s Wartość księgowa Book value Liczba akcji (w szt.) Number of shares (pcs.) Wartość księgowa na jedną akcję Book value per share (in PLN) 30,45 28,48 29,25 (w zł) NB: In case of reports for the 1 st quarter of the financial year only the first (as of the end of the 1 st quarter of the current financial year), third (as of the end of the previous financial year) and fourth (as of the end of the 1 st quarter of the previous financial year) columns should be filled. POZYCJE POZABILANSOWE / OFF-BALANCE SHEET ITEMS as of end of the quarter / in thousands PLN as of the end of the as of previous quarter / end of the previous as of end of the quarter / 2009 year / , Należności warunkowe 1. Contingent receivables Od pozostałych jednostek (z 1.1. From other entities (due to) tytułu) - otrzymanych gwarancji i - received guarantees and poręczeń warranties - weksli - bills of exchange należności z tytułu pozwów - receivables due to lawsuits sądowych 2. Zobowiązania warunkowe 2. Contingent liabilities Na rzecz pozostałych 2.1. For other entities (due to) jednostek (z tytułu) - udzielonych gwarancji i - received guarantees and poręczeń warranties - weksli - bills of exchange Pozycje pozabilansowe, razem Total off-balance sheet items NB: In case of reports for the 1 st quarter of the financial year only the first (as of the end of the 1 st quarter of the current financial year), third (as of the end of the previous financial year) and fourth (as of the end of the 1 st quarter of the previous financial year) columns should be filled. RACHUNEK ZYSKÓW I STRAT / PROFIT AND LOSS ACCOUNT 1 quarter / 2009 from to in thousands PLN quarter(s) to date / 1 quarter / 2008 from to from to quarter(s) to date / from to I. Przychody netto ze sprzedaży produktów, towarowi materiałów, w tym: I. Net revenue from sales of products, goods and materials, including: od jednostek powiązanych - from affiliated entities Przychody netto ze sprzedaży 1. Net revenue from sales of produktów products 2. Przychody netto ze sprzedaży 2. Net revenue from sales of towarów i materiałów goods and materials II. Koszty sprzedanych II. Cost of products, goods and produktów, towarów i materiałów, w tym: materials sold, including: - jednostkom powiązanym - to affiliated entities Polish Financial Supervision Authority 3

4 1. Koszt wytworzenia sprzedanych produktów 2. Wartość sprzedanych towarów i materiałów III. Zysk (strata) brutto ze 1. Manufacturing cost of products sold 2. Value of goods and materials sold III. Gross profit (loss) on sales sprzedaży IV. Koszty ogólnego zarządu IV. General administration costs V. Zysk (strata) ze sprzedaży V. Profit (loss) on sales VI. Pozostałe przychody VI. Remaining operating operacyjne 1. Zysk ze zbycia niefinansowych aktywów revenue 1. Revenue on sale of nonfinancial fixed assets 1 2 trwałych 2. Inne przychody operacyjne 2. Other operating revenue VII, Pozostałe koszty operacyjne VII. Remaining operating expenses 1. Inne koszty operacyjne 2. Other operating expenses VIII. Zysk (strata) z działalności VIII. Profit (loss) from operating operacyjnej activities IX. Przychody finansowe IX. Financial revenue Odsetki, w tym: 1. Interest, including: Inne 2. Other X. Koszty finansowe X. Financial expenses Odsetki w tym: 1. Interest, including: Inne 2. Other 38 XI. Zysk (strata) z działalności XI. Profit (loss) on ordinary gospodarczej activities XII. Zysk (strata) brutto XII. Gross profit (loss) XIII. Podatek dochodowy XIII. Income tax a) część bieżąca a) current portion b) część odroczona b) deferred portion XIV. Udział w zyskach (stratach) XIV. Share in net profits (losses) netto jednostek podporządkowanych wycenianych metodą praw of subordinate entities valued using the equity method własności XV. Zysk (strata) netto XV. Net profit (loss) Zysk (strata) netto (zanualizowany) Średnia ważona liczba akcji zwykłych (w szt.) (Annualized) net profit (loss) Weighted average number of ordinary shares (pcs.) Zysk (strata) na jedną akcję zwykłą (w zł) Profit (loss) per ordinary share (in PLN) 5,77 7,93 ZESTAWIENIE ZMIAN W KAPITALE WŁASNYM / STATEMENT OF CHANGES IN EQUITY 1 quarter(s) / 2009 from to in thousands PLN quarter(s) to date / 2008 from to from to quarter(s) to date / 2008 from to I. Kapitał własny na początek okresu (BO) I.a. Kapitał własny na początek okresu (BO), po uzgodnieniu do danych porównywalnych 1. Kapitał zakładowy na początek okresu 1.1. Kapitał zakładowy na koniec okresu 2. Kapitał zapasowy na początek okresu I. Equity at the beginning of the reporting I.a. Equity at the beginning of the reporting after reconciliation to comparable data 1. Share capital at the 1.1. Share capital at the end of the reporting 2. Supplementary capital at the Polish Financial Supervision Authority 4

5 2.1. Zmiany kapitału 2.1. Changes in supplementary 12 2 zapasowego capital a) zwiększenia (z tytułu) a) increase (due to) sprzedaży i likwidacji - sale and liquidation of fixed 12 2 środków trwałych assets 2.2. Kapitał zapasowy na 2.2. Supplementary capital at koniec okresu the end of the reporting 3. Kapitał z aktualizacji wyceny 3. Revaluation reserve at the na początek okresu 3.1. Zmiany kapitału z 3.1. Changes in revaluation aktualizacji wyceny reserve a) zwiększenia (z tytułu) a) increase (due to) z aktualizacji aktywów - revaluation of financial assets finansowych b) zmniejszenia (z tytułu) b) decrease (due to) zbycia środków trwałych - sale of fixed assets różnice kursowe z - currency translation 64 1 przeliczenia difference - z aktualizacji aktywów - revaluation of financial assets finansowych 3.2. Kapitał z aktualizacji 3.2. Revaluation reserve at the wyceny na koniec okresu end of the reporting 4, Pozostałe kapitały 4. Other reserve capitals at the rezerwowe na początek okresu 4.1. Zmiany pozostałych 4.1. Changes in other reserve kapitałów rezerwowych capitals a) zwiększenia (z tytułu) a) increase (due to) z podziału zysku - profit distribution Pozostałe kapitały 4.2. Other reserve capitals at rezerwowe na koniec okresu the end of the reporting 5. Zysk (strata) z lat ubiegłych 5. Retained profit (loss) at the na początek okresu 5.1. Zysk z lat ubiegłych na 5.1. Retained profit at the początek okresu 5.2. Zysk z lat ubiegłych na 5.2. Retained profit at the początek okresu, po uzgodnieniu do danych porównywalnych after reconciliation to comparable data a) zmniejszenia (z tytułu) a) decrease (due to) przeniesienie na kapitał - shifts to reserve capital rezerwowy - wypłata dywidendy - dividend payment Zysk z lat ubiegłych na 5.3. Retained profit at the end koniec okresu of the reporting 5.4. Zysk (strata) z lat 5.4. Retained profit (loss) at the ubiegłych na koniec okresu end of the reporting 6.Wynik netto 6. Net result a) zysk netto a) net profit II. Kapitał własny na koniec II. Equity at the end of the okresu (BZ) reporting III. Kapitał własny, po uwzględnieniu proponowanego podziału zysku (pokrycia straty) III. Equity adjusted by the proposed distribution of profit (coverage of loss) RACHUNEK PRZEPŁYWÓW PIENIĘŻNYCH / CASH FLOW STATEMENT 1 quarter / 2009 from to in thousands PLN quarter(s) to date / 1 quarter / 2008 from to from to quarter(s) to date / from to A. Przepływy środków pieniężnych z działalności A. Cash flows from operating activities Polish Financial Supervision Authority 5

6 operacyjnej I. Zysk (strata) netto I. Net profit (loss) II. Korekty razem II. Total adjustments Udział w (zyskach) stratach 1. Share in net profits (losses) netto jednostek podporządkowanych wycenianych metodą praw of subordinate entities valued using the equity method własności 2. Amortyzacja 2. Depreciation/amortization (Zyski) straty z tytułu różnic 3. Profit (loss) from currency -1 kursowych 4. (Zysk) strata z działalności translation differences 4. Profit (loss) on investment inwestycyjnej activities 5. Zmiana stanu rezerw 5. Change in the balance of provisions 6. Zmiana stanu zapasów 6. Change in the balance of inventory 7. Zmiana stanu należności 7. Change in the balance of 8. Zmiana stanu zobowiązań krótkoterminowych, z wyjątkiem pożyczek i kredytów 9. Zmiana stanu rozliczeń receivables 8. Change in short-term liabilities, excluding loans and credit facilities 9. Change in prepayments and międzyokresowych accruals 10. Inne korekty 10. Other adjustments III. Przepływy pieniężne netto z III. Net cash flows from działalności operacyjnej (I+/-II) metoda pośrednia B. Przepływy środków pieniężnych z działalności operating activities (I+/-II) indirect method B. Net cash flows from investment activities inwestycyjnej I. Wpływy I. Inflows Zbycie wartości 1. Disposal of intangible assets 1 2 niematerialnych i prawnych oraz rzeczowych aktywów and tangible fixed assets trwałych II. Wydatki II. Outflows Nabycie wartości 1. Acquisition of intangible niematerialnych i prawnych oraz rzeczowych aktywów trwałych III. Przepływy pieniężne netto z działalności inwestycyjnej (I-II) C. Przepływy środków pieniężnych z działalności assets and tangible fixed assets III. Net cash flows from investment activities (I-II) C. Net cash flows from financial activities finansowej I. Wydatki I. Outflows Płatności zobowiązań z 1. Payment of liabilities due to 168 tytułu umów leasingu financial leasing agreements finansowego 2. Odsetki 2. Interest 396 II. Przepływy pieniężne netto z II. Net cash flows from financial -564 działalności finansowej (I-II) D. Przepływy pieniężne netto, razem (A.III+/-B.III+/-C.III) E. Bilansowa zmiana stanu środków pieniężnych, w tym: F. Środki pieniężne na początek okresu G. Środki pieniężne na koniec okresu (F+/- D), w tym: - o ograniczonej możliwości dysponowania activities (I-II) D. Total net cash flows (A.III+/ B.III+/C.III) E. Balance sheet change in cash, including: F. Cash balance at the G. Cash balance at the end of the reporting (F+/-D), including: - restricted cash OTHER INFORMATION Polish Financial Supervision Authority 6

7 File Komentarz za I kw2009.rtf Description SIGNATURES OF PERSONS REPRESENTING THE COMPANY Date Name Position/Function Signature Wiktor Guzek President of the Management Board Alicja Sulkowska-Mliczek Member of the Management Board Leszek Frąckiewicz Member of the Management Board Krzysztof Bartczak Chief Accountant Accounting principles and methods applied in preparation of the financial statements for the first quarter of Accounting principles applied by the Company described in the 2008 report have not been changed. 1. Short description of significant achievements or failures of the issuer in the reporting, together with the list of the most important related events. Polish Financial Supervision Authority 7

8 Description of achievements and failures of the issuer in the reporting : 1. The company published an information regarding failure to comply with corporate governance rules and regulations Best Practices of WSE Listed Companies. 2. The Company informed about signing an annex to the Agreement of February 23, 2009, with Mostostal Warszawa S.A. (parent company) for the amount of PLN The Company published a quarterly report for the fourth quarter of 2008 and an annual report for The Company announced deadlines for filing in interim reports in The Company announced the list of all current and interim reports published by the Company in Description of factors and events, especially of unusual character, which have had material impact on the achieved financial results. 1. The Company focused its activities on its primary scope of activity construction and assembly production (93.3% of total sales). There were no unusual events with significant impact on the achieved financial results. 2. The following events took place in the reporting from January 1, 2009, to March 31, 2009: a) reserved provisions: - as a result of planning for redundant hard-to-sell materials PLN for retirement and disability gratuities PLN b) the following provisions were made: - for expenses not yet borne related to achieved revenue PLN c) deferred tax indicated in the Profit and Loss Account, including: - deferred tax assets PLN provision for deferred income PLN Particular assets and liabilities items from the balance sheet and the cash flow statement have been converted into Euro according to the Polish National Bank's average daily exchange rate from March 31, 2008, that is 1 =PLN Particular profit and loss account items have been converted into EUR using average exchange rate announced by NBP Polish National Bank: 1 = PLN exchange rate 3,6260 (highest PLN/EUR exchange rate) exchange rate 3,5204 ( lowest PLN/EUR exchange rate) exchange rate 3,5258 Particular assets and liabilities items in the balance sheet and cash flow statement for comparable data have been converted into EUR using average exchange rate for March 21, 2009, announced by NBP Polish National Bank: Polish Financial Supervision Authority 8

9 1 =PLN Profit and loss account s items have been converted into Euro at the arithmetic mean of the Polish National Bank's average exchange rates: 1 = PLN exchange rate 4,4392 (lowest PLN/EUR exchange rate) exchange rate 4, exchange rate 4,7013 (highest PLN/EUR exchange rate) 3. Information on the issue, buyback and repayment of debt securities and quality stocks. Within the reporting the Company has not issued, bought back nor paid debt securities and quality stocks. 4. Information on the paid (or declared) dividend in total and per share, with classification of shares into ordinary and preference shares. By means of current report number 8/2009, the Management Board of Mostostal Płock S.A. Company informed that on April 9, 2009, the Supervisory Board made a recommendation to the Ordinary Meeting of Shareholders to pay a dividend for 2008 in the amount of PLN , that is PLN 4.25 per one share. 5. Significant events that took place after the date of preparation of abbreviated quarterly financial statements, not mentioned in this statements, but which can have material impact on future financial results of the issuer. No significant events took place after the date of preparation of abbreviated quarterly financial statements which could have had material impact on future financial results of the Issuer. 6. Information concerning changes in contingent liabilities or contingent assets that took place after the end of the last financial year. Contingent receivables due to bank guarantees and received bills of exchange increased by PLN Contingent liabilities due to bank and insurance guarantees and issued bills of exchange increased by PLN All conditional liabilities refer to contractual guarantees only. 7. Description of the organization of the issuer s capital group, specifying the consolidated entities. The Company does not form a capital group as defined in the Accounting Act. 8. Management Board s stance concerning the possibilities of achieving previously published results forecasts for a given year, in light of the results presented in quarterly report in relation to the forecast results. Polish Financial Supervision Authority 9

10 The Company has not published any results forecasts. 9. A list of shareholders having directly or indirectly by subsidiaries, at least 5 % of the total number of votes during the general meeting of the issuer as of the day of submitting a quarterly report, together with indication of the number of shares owned by these entities, their percentage share in the share capital, the number of votes granted by those shares, as well as their percentage share in the total number of votes during the general meeting, and indication of changes in ownership structure of large blocks of shares of the issuer after the publication of the previous quarterly report. According to the information on hand, the following entities are shareholders owning at least 5% of the overall number of votes cast during the GMS: 1. Mostostal Warszawa S.A. As of Number of shares % of capital Number of votes at % of votes at the the GM GM December 31, , ,46 March 31, , ,46 Difference 0 0, ING OFE As of Number of shares % of capital Number of votes at % of votes at the the GM GM December 31, , ,06 March 31, , ,06 Difference AIG TFI S.A. As of Number of shares % of capital Number of votes at % of votes at the the GM GM December 31, , ,12 March 31, , ,12 Difference ING TFI S.A. As of Number of shares % of capital Number of votes at % of votes at the the GM GM December 31, , ,31 March 31, , ,31 Difference Polish Financial Supervision Authority 10

11 10. Register of changes in ownership of shares of the issuer or rights to these shares (options) of persons managing and supervising the issuer, in accordance with information possessed by the issuer after the publication of the previous quarterly report. Members of the Management Board Full name Number of shares Number of shares Difference in quantity as of as of of owned shares December 31, 2008 March 31, 2009 Wiktor Guzek Alicja Sulkowska - Mliczek Leszek Frąckiewicz Paweł Rakowski Proxy Members of the Supervisory Board Full name Number of shares Number of shares Difference in quantity as of as of of owned shares December 31, 2008 March 31, 2009 Janusz Zieliński Grzegorz Bartnik Jarosław Popiołek Miguel Vegas Solano Andrzej Sitkiewicz As of the reporting day, the Company had no information regarding any changes in the number of shares held by the managing and supervising personnel. 11. Information on proceedings concerning liabilities or receivables of Mostostal Płock S.A. As of the balance sheet date, court action brought by Mostostal Płock S.A. against Płockie Przedsiębiorstwo Robót Mostowych company as of December 2, 2008, concerning the change in the amount of monetary benefits by the increase in the agreed remuneration by PLN 6,147, thousand for works performed within the program concerning building a bridge on the Vistula river in Płock - Budowa mostu przez rzekę Wisłę w Płocku (criterion: at least 10% of Company equity) proceeds. The District Court in Warsaw, 16 th Commercial Division, ruled on April 10, 2009, that the defendant, Polish Financial Supervision Authority 11

12 Bilfinger Berger Polska S.A. company (which has shared all rights and duties of Płockie Przedsiębiorstwo Robót Mostowych company since January 31, 2008), shall pay PLN 4,367, in behalf of the plaintiff, together with statutory interest since March 4, 2005, until the day of payment and reimbursement of costs incurred in the proceedings. In the remaining scope, the District Court dismissed a suit and discontinued legal proceedings in connection with the question of terminating the agreement. The verdict is not yet valid. Appeal was launched. The proceedings did not have any impact on the results from the previous years. The Company shall benefit in case of a positive verdict. 12. Information concerning one or more transactions of the issuer or subordinate entity concluded with affiliated entities, whose amount or total amount of several transactions exceeds the equivalent of EUR 500 thousand in PLN if these transactions are not typical and routine transactions concluded on market terms, and their character and conditions are related to the current operating activity. No such transactions were concluded in the first quarter of Information on extending credit or loan guarantees by the issuer or by a subordinate entity or extending a warranty to one entity or subordinate entity of this entity, if the total value of the existing guarantees or warranties amounts to the equivalent of at least 10% of the issuer s equity. No abovementioned guarantees were granted in the first quarter of Other information which in issuer s opinion may be significant for the evaluation of his human resources, property, finances situation and financial results and their changes, as well as information which may me significant for the evaluation of chances of performance of liabilities by the issuer. No significant changes took place in human resources, property and financial situation in the first quarter of The Company is able to regulate liabilities. 15. Factors which, in issuer's opinion, may have impact on the achieved results at least in the following quarter. The Company shall continue its ordinary activity, which will be connected with accepting factors typical for this type of activity. Polish Financial Supervision Authority 12