Annual Report 2009

A N N U A L R E P O R T 2 0 0 9 24 REPORT BY THE BOARD OF DIRECTORS Satisfaction of Liabilities Last year, the Company’s financial position was balanced and stable. The Company fulfilled its obligations to financial institutions, state and public authorities, as well as to all suppliers in a due and timely manner. Overdue receivables Allowance for doubtful amounts Current receivables 77% 23% -6% 100% Receivables as at 31 Dec 2009 Overdue payables Current payables 86% 14% 100% Payables as at 31 Dec 2009