Annual Report 2007

24 A N N U A L R E P O R T REPORT BY THE BOARD OF DIRECTORS In 2007, the liabilities structure showed no material changes. Despite significant capital expenditures, the share of own funds in the Company’s funding remained at 62.0%. As of 31 December 2007, equity was recognised in the amount of SKK 5 195.5 million representing SKK 2 179 per share of the Company. The Company’s liabilities totalled SKK 3 184.3 million. The Company recorded decrease in financial gearing by SKK 102.4 million and increase in trade liabilities by SKK 375.7 million. Data from Separate IFRS Balance Sheet As at 31 December 2007 (in SKK’ 000) ASSETS As at 31.12.2007 As at 31.12.2006 NON-CURRENT ASSETS Property, plant and equipment 2 701 525 2 552 694 Intangible assets 2 666 2 584 Investments in subsidiary and associate undertakings and joint ventures 2 453 654 1 504 254 Investments available-for-sale 6 714 3 835 Other financial assets 88 209 210 882 Total non-current assets 5 252 768 4 274 249 CURRENT ASSETS Inventory 1 559 194 1 316 329 Trade and other receivables 1 523 278 1 733 681 Other assets 15 478 12 627 Cash and cash equivalents 29 110 27 668 Total current assets 3 127 060 3 090 305 TOTAL ASSETS 8 379 828 7 364 554 EQUITY AND LIABILITIES CAPITAL AND PROVISIONS FOR LIABILITIES Registered capital 2 384 135 2 384 135 Treasury shares -67 673 - Statutory and other funds 429 059 495 358 Retained earnings 2 449 964 1 759 701 Total equity 5 195 485 4 639 194 LIABILITIES NON-CURRENT LIABILITIES Interest-bearing loans and borrowings 877 222 1 079 905 Other financial liabilities 236 843 2 260 Liabilities from employee benefits 162 988 151 107 Provisions for liabilities 1 288 1 216 Deferred tax liability 98 860 129 423 Total non-current liabilities 1 377 201 1 363 911 CURRENT LIABILITIES Interest-bearing loans and borrowings 542 368 442 093 Trade and other payables 1 222 989 847 318 Tax liabilities 41 785 72 038 Total current liabilities 1 807 142 1 361 449 Total liabilities 3 184 343 2 725 360 TOTAL EQUITY AND LIABILITIES 8 379 828 7 364 554