· TRANSLATION FROM SERBIAN INTO ENGLISH Name: KONSING GROUP DOO BELGRADE Registered office:...

KONSING GROUP LTD BELGRADE

Financial Reports for 2019, 2018 and 2017 year

TRANSLATION FROM SERBIAN INTO ENGLISH

Name: KONSING GROUP DOO BELGRADE

Registered office: BELGRADE, Bulevar Peka Dapcevica 25

BALANCE SHEET

On December 31, 2019 in thousands of RSD

Group

accounts,

account

POSITION AOP

Note

numbe

r

Amount

Previous Year

Current

Year

End state

31.12.2019

Initial state

01.01.2019

1 2 3 4 5 6 7

ASSETS

00 A. SUBSCRIBED AND PAIDIN CAPITAL 0001

B. FIXED ASSETS

(0003 + 0010 + 0019 + 0024 + 0034) 0002 277.765

283.257

290.841

01 I. INTANGIBLE ASSETS

(0004 + 0005 + 0006 + 0007 + 0008 + 0009) 0003

577

1.449

010 and

part 019 1.Investments in development 0004

011, 012

and part

019

2. Concessions , patents , licenses, trademarks, service marks ,

software and other rights 0005

577

1.449

013 and

part 019 3.Goodwill 0006

014 and part 019

4.Other intangible assets 0007

015 and

part 019 5.Intangible assets in progress 0008

016 and part 019

6. Advances for intangible assets 0009

02 II. PROPERTY, PLANT AND EQUIPMENT

(0011+0012+0013+0014+0015+0016+0017+0018) 0010 269.567

274.333

280.655

020, 021

and part

029

1.Land 0011

022 and

part 029 2.Building Structures 0012 15 400 416 432

023 and

part 029 3. Plant and Equipment 0013 15 1.380 6.130 9.754

024 and

part 029 4. Investment properties 0014 16 267.787 267.787 270.469

025 and

part 029 5. Other property, plant and equipment 0015

026 and

part 029 6. Property, plant and equipment in preparation 0016

027 and

part 029 7. Leasehold property, plant and equipment 0017

028 and part 029

8. Advances for property , plant and equipment 0018

03 III. BIOLOGICAL RESOURCES

(0020 + 0021 + 0022 + 0023) 0019

030, 031

and part

039

1.Woods and plants 0020

032 and part 039

2.Basic herd 0021

037 and

part 039 3.Biological assets in preparation 0022

038 and

part 039 4.Advances for biological agents 0023

04,

except

047

IV. LONG TERM INVESTMENTS

(0025+0026+0027+0028+0029+0030+0031+0032+0033) 0024 3.963

4.091

4.471

040 and

part 049 1.Shares in subsidiaries 0025 100

041 and

part 049

2. Shares in associated companies and

joint ventures 0026

042 and

part 049

3. Shares in other legal entities and other

securities available for sale 0027

part 043, part 044

and part

049

4. Long-term investments parent company and subsidiaries

faces 0028

part 043,

part 044

and part

049

5.Longterm placements with other related parties 0029

part 045

and part

049

6.Longterm investments in the country 0030

part 045

and part

049

7.Longterm investments abroad 0031

046 and part 049

8.Securities held to maturity 0032

048 and

part 049 9. Other long-term investments 0033

17

3.963

4.091

4.371

05 V. LONGTERM RECEIVABLES

(0035+0036+0037+0038+0039+0040+0041) 0034

18 4.235

4.256

4.266

050 and

part 059 1. Receivables from parent companies and subsidiaries 0035

051 and

part 059 2.Receivables from other related parties 0036

052 and

part 059 3. Receivables from the sale of the commodity loan 0037 4.235

4.256

4.266

053 and

part 059

4. Receivables for sale by contracts

financial leasing 0038

054 and

part 059 5.Claims based on the bail 0039

055 and

part 059 6.Disputed and doubtful receivables 0040

056 and

part 059 7.Other long-term receivables 0041

288 V. DEFERRED TAX ASSETS 0042

19

255

556

G. CURRENT ASSETS

(0044+0051+0059+0060+0061+0062+0068+0069+0070) 0043 49.869

55.121

144.048

Class 1 I. INVENTORIES

(0045+0046+0047+0048+0049+0050) 0044

20

14.427

16.066

22.709

10 1.Supplies , spare parts , tools and inventory 0045 10.081

10.380

16.254

11 2.Work in progress and unfinished services 0046

12 3.Finished Products 0047

13 4. Goods 0048 392

392

856

14 5.Fixed assets held for sale 0049

15 6.Advances paid to suppliers 0050 3.954

5.294

5.599

20 II. RECEIVABLES FROM SALE

(0052+0053+0054+0055+0056+0057+0058) 0051

21

32.824

32.568

80.479

200 and

part 209 1.Domestic parent and subsidiaries 0052

201 and

part 209 2.Buyers abroad parent and subsidiaries 0053 11.261

202 and

part 209 3.Domestic other related parties 0054

203 and

part 209 4. Buyers abroad other related parties 0055

204 and

part 209 5. Domestic 0056 32.616

26.395

68.503

205 and

part 209 6.Buyers abroad 0057 208

6.173

715

206 and

part 209 7.Other receivables from sales 0058

21 III. Receivables from specific products 0059

22 IV. OTHER RECEIVABLES 0060

22

120

590

3.547

236 FINANCIAL RESOURCES TO BE MEASURED AT FAIR

VALUE THROUGH PROFIT OR LOSS 0061

23

except

236 and 237

VI. SHORT TERM INVESTMENTS

(0063+0064+0065+0066+0067) 0062

230 and part 239

1. Short-term loans and investments parent and

subsidiaries 0063

231 and part 239

2. Short-term credits and loans stay connected

legal entities 0064

232 and part 239 3.Shortterm loans and loans in the country 0065

233 and part 239 4.Shortterm loans and loans abroad 0066

234, 235,

238 and part 239

5.Other short-term financial investments 0067

24 VII. CASH AND CASH EQUIVALENTS 0068

23

1.869

470

23.092

27 VIII. VALUE ADDED TAX 0069 424

400

1.041

28 except

288 IX. ACCRUED 0070

24

205

5.027

13.180

D. TOTAL OPERATING ASSETS=OPERATING ASSETS

(0001+0002+0042+0043) 0071 327.634

338.633

435.445

88 DJ. OFFBALANCE SHEET ASSETS 0072

LIABILITIES

А. CAPITAL (0402+0411 0412+0413+0414+0415 0416+0417 +0420 0421) ≥ 0 = (0071 0424 0441 0442)

0401 204.446

199.766

239.974

30 1.SHARE CAPITAL (0403+0404+0405+0406+0407+0408+0409+0410) 0402

25

14.061

14.061

14.061

300 1.Share capital 0403

301 2.The shares of limited liability companies 0404 14.061

14.061

14.061

302 3.Shares 0405

303 4.State capital 0406

304 5.Social Capital 0407

305 6.Cooperative shares 0408

306 7.Share premium 0409

309 8.Other capital 0410

31 II. SUBSCRIBED AND PAIDIN CAPITAL 0411

047 and

237 III. TREASURY SHARES 0412

32 IV. RESERVES 0413

26

4.540

4.540

4.540

330

V. Revaluation reserves based on

Revaluation of intangible assets , PROPERTY, PLANT AND EQUIPMENT

0414

33 except

330

VI. UNREALIZED GAINS ON SECURITIES

SECURITIES AND OTHER COMPONENTS

OTHER COMPREHENSIVE RESULTS

( Credit balance accounts of group 33 except 330 )

0415

33

except 330

VII. UNREALIZED LOSSES ON SECURITIES

SECURITIES AND OTHER COMPONENTS OTHER COMPREHENSIVE RESULTS


0416

34 VIII. RETAINED EARNINGS (0418+0419) 0417

27

211.923

207.243

238.818

340 1.Profit from previous years 0418 207.243

207.243

224.826

341 2.Profit for the current year 0419 4.680

13.992

IX. No controlling interests 0420

35 X. LOSS (0422+0423) 0421

27

26.078

26.078

17.445

350 1.Loss of previous year 0422 26.078

17.445

351 2.Loss of current year 0423 26.078

B. LONGTERM PROVISIONS AND LIABILITIES

(0425+0432) 0424 2.866

40 I. LONGTERM PROVISIONS

(0426+0427+0428+0429+0430+0431) 0425

400 1.For expenses in warranty period 0426

401 2. For restoration of natural resources 0427

403 3.Provisions for restructuring costs 0428

404 4.Provision for retirement and other employee benefits 0429

405 5.Provision for lawsuits 0430

402 and 409

6.Other long-term provisions 0431

41 II. LONGTERM LIABILITIES

(0433+0434+0435+0436+0437+0438+0439+0440) 0432 2.866

410 1.Liabilities convertible in capital 0433

411 2.Due to parent companies and subsidiaries 0434

412 3.Due to other related parties 0435

413 4. payable securities in for more than one day 0436

414 5.Longterm loans and loans in the country 0437

415 6.Longterm loans and loans abroad 0438

416 7.Liabilities arising from finance lease 0439

2.866

419 8.Other long-term liabilities 0440

498 В. DEFERRED TAX LIABILITIES 0441

28

1.068

42 to 49 (except

498)

Г. SHORTTERM LIABILITIES

(0443+0450+0451+0459+0460+0461+0462) 0442 122.120

138.867

192.605

42 I. CURRENT LIABILITIES

(0444+0445+0446+0447+0448+0449) 0443 31

29

3.405

6.264

420 1. Short-term loans from its parent and subsidiary

legal entities 0444

421 2. Short-term loans from other related parties 0445

422 3.Shortterm credits and loans in the country 0446 9.231

423 4.Shortterm borrowings abroad 0447

427 5. Liabilities on fixed assets and assets

discontinued operations held for sale 0448

424, 425,

426 and

429

6.Other current financial liabilities 0449 3.405

6.264

6.802

430 II. ADVANCES AND DEPOSITS 0450

30

7.984

15.342

27.609

43 except

430

III. BUSINESS DUTIES

(0452+0453+0454+0455+0456+0457+0458) 0451

30

41.584

42.792

58.159

431 1.Suppliers parent and subsidiaries in the country 0452

432 2. Suppliers parent and subsidiaries in abroad 0453 5.045

433 3.Suppliers other related parties in the country 0454

434 4.Suppliers Other related legal entities abroad 0455

435 5.Suppliers in the country 0456 34.895

32.958

34.819

436 6.Foreign suppliers 0457 6.689

9.843

18.295

439 7.Other operating liabilities 0458

44, 45 and 46

IV. OTHER CURRENT LIABILITIES 0459

31

64.067

67.241

77.031

47 V. LIABILITIES FOR ADDED TAX VALUE 0460

32

1.008

495

3.263

48 VI. Other taxes , contributions

AND OTHER DUTIES 0461

32

668

3.307

6.965

49 except

498 VII. ACCRUALS 0462

32

3.404

3.426

3.545

Д. LOSS ABOVE CAPITAL VALUE (0412+0416+0421 0420 0417 0415 0414 0413 0411 0402) ≥ 0 = (0441+0424+0442 0071) ≥ 0

0463

DJ. TOTAL LIABILITIES (0424+0442+0441+0401 0463) ≥ 0 0464 327.634

338.633

435.445

89 Е. OFF BALANCE SHEET LIABILITIES 0465




INCOME STATEMENTS

for the period from 01.01. to 31.12.2019

- in thousands of RSD -

Group accounts,

account

P O S I T I O N АОP Note

number

Amount

Current Year Previous Year

1 2 3 4 5 6

INCOME FROM OPERATIONS

60 to 65,

except 62

and 63

А. OPERATING INCOME (1002+1009+1016+1017) 1001 203.290 227.438

60 I. INCOME FROM SALE OF GOODS

(1003+1004+1005+1006+1007+1008) 1002 178

600 1. Income of merchandise to parent and subsidiaries

persons in the domestic market 1003


persons on foreign market 1004

602 3. Income of goods other related legal persons in the domestic market

1005

603 4. Income of goods other related legal


604 5. Income of goods on the domestic market 1007

144

605 6. Income of goods on foreign market 1008

34

61 II. INCOME OF PRODUCTS AND SERVICES

(1010+1011+1012+1013+1014+1015) 1009

4

97.717 121.630

610 1. Income from sales of products and services and the

parent subsidiaries in the domestic market 1010


parent subsidiaries in foreign markets 1011 9.195

612 3. Income from sale of goods and services to other related

parties in the domestic market 1012

613 4. Income from sales of goods and services to other

related parties in the international market 1013

614 5. Income from sales of products and services on

domestic market 1014 93.769 94.767

615 6. Income of finished products and services foreign market

1015 3.948 17.668

64 III. Income from premiums, subsidies,

Grants, donations, etc. 1016

65 IV. OTHER OPERATING INCOME

EXPENSES 1017

5

105.573 105.630

Operating expense

50 to 55,

62 and

63

Б. BUSINESS EXPENSES

(1019 - 1020 - 1021+1022+1023+1024+1025

+1026+1027+1028+1029) ≥ 0

1018

195.072 236.339

50 I. COST OF GOODS SOLD 1019

62 II. REVENUES FROM ACTIVATION OF GOODS

AND EFFECTS 1020

630 III. INCREASE IN VALUE STOCKS - finished and

finished products and unfinished SERVICES 1021

631 IV. DECREASE IN VALUE STOCKS - finished and


51 except

513 V. COST OF MATERIALS 1023

6

345 4.874

513 VI. COST OF FUEL AND ENERGY 1024 13.366 11.536

6

52 VII. SALARIES , WAGES

AND OTHER PERSONNEL EXPENSES 1025

7

29.512 57.663

53 VIII. COSTS OF PRODUCTION 1026

8

138.836 146.599

540 IX. DEPRECIATION 1027

9

3.289 4.608

541 to 549

X. COSTS OF LONG-TERM PROVISIONS 1028

55 XI. IMMATERIAL COSTS 1029

10

9.724 11.059

V. OPERATING PROFIT (1001 - 1018) ≥ 0 1030

8.218

g. OPERATING LOSS (1018 - 1001) ≥ 0 1031 8.901

66 D. FINANCE INCOME (1033+1038+1039)

1032

11

50 148

66,

except

662, 663

and 664

I. FINANCIAL REVENUES FROM RELATED

PERSONS AND OTHER FINANCIAL INCOME

(1034+1035+1036+1037)

1033

660 1. Financial income from parent companies and subsidiaries

1034

661 2. Financial income from other related parties 1035

665 3. Income from participation in profit of associated legal

entities and joint ventures 1036

669 4. Other finance income 1037

662 II. INTEREST INCOME (FROM THIRD PARTIES) 1038

26

663 and 664

III. FOREIGN EXCHANGE GAINS AND POSITIVE EFFECTS OF CURRENCY CLAUSE

(BY THIRD PARTIES)

1039

50 122

56 DJ. FINANCIAL EXPENSES (1041+1046+1047) 1040

12

677 1.010

56,

except

562, 563

and 564

I. FINANCIAL EXPENSES RELATIONS

RELATED PARTIES AND OTHER FINANCIAL

EXPENSES (1042+1043+1044+1045)

1041

560 1. Finance expenses from relations with parent and

subsidiary legal entities 1042

561 2. Financial expenses from other related

legal entities 1043

565 3. Expenses from participation in loss of associated legal

entities and joint ventures 1044

566 and

569 4. Other financial expenses 1045

562 II. INTEREST EXPENSES ( BY THIRD PARTIES) 1046

396 467

563 and

564

III. FOREIGN EXCHANGE GAINS AND NEGATIVE

EFFECTS OF CURRENCY CLAUSE

( BY THIRD PARTIES)

1047

281 543

15.553 Е. PROFIT FROM FINANCING (1032 - 1040) 1048

Z. LOSS FROM FINANCING (1040 -1032) 1049

627 862

683 and

685

Z. INCOME ADJUSTMENT

Other assets carried at FER VALUE THROUGH

PROFIT OR LOSS

1050

583 and

585

I. LOSS FROM VALUE ADJUSTMENT


PROFIT OR LOSS

1051

67 and

68,

except

683 and 685

Ј. OTHER INCOME 1052

13

1.288 7.773

57 and

58,

except

583 and

585

К. OTHER EXPENSES 1053

14

2.876 23.787

L. PROFIT FROM OPERATIONS

BEFORE TAX

(1030 - 1031+1048 - 1049+1050 - 1051+1052 - 1053)

1054

6.003

Lj. LOSS FROM OPERATIONS

BEFORE TAX

(1031 - 1030+1049 - 1048+1051 - 1050+1053 - 1052)

1055

25.777

69-59

М. NET PROFIT FROM SUSPENDED , THE EFFECTS

OF CHANGES ACCOUNTING POLICIES AND

CORRECTION ERRORS OF PREVIOUS PERIOD

1056

59-69

N. NET LOSS FROM SUSPENDED , EXPENSES FOR

CHANGES ACCOUNTING POLICIES AND


1057

Nj. PROFIT BEFORE TAX

(1054 - 1055+1056 - 1057) 1058

3.135

О. LOSS BEFORE TAX (1055 - 1054+1057 - 1056) 1059

25.777

P. INCOME TAXES

721 I. Income tax expense 1060

part 722 II. Deferred tax expense 1061

1.323 301

part 722 III. Deferred income tax 1062

723 R. EARNINGS PAID EMPLOYER 1063

S. NET PROFIT (1058 - 1059 - 1060 - 1061 + 1062 -

1063) 1064

4.680

T. NET LOSS (1059 - 1058 + 1060 + 1061 -1062 + 1063)

1065

26.078

I. NET PROFIT OF THE

MINORITY SHAREHOLDERS 1066

II. NET PROFIT DUE TO

Majority owner 1067

III. NET LOSS BELONGING


IV. NET LOSS BELONGING

Majority owner 1069

V. EARNINGS PER SHARE

1. Basic earnings per share 1070

2. Reduced (diluted) earnings per share 1071




REPORT ON OTHER RESULTS

for the period from 01.01.2018 to 31.12.2019 year


Group

accoun

ts,acco

unt

POSITION АОP

Note Amount

number Current Year Previous Year

1 2 3 4 5 6

А. NET RESULT FROM OPERATIONS

I. NET INCOME (AOP 1064) 2001

29

4.680

II. NET LOSS (AOP 1065) 2002

29

26.078

Б. OTHER COMPREHENSIVE PROFIT OR LOSS

а) Items that will be reclassified in the income

statement in future periods

330

1. Changes in the revaluation of intangible assets ,

property, plant and equipment

а) increase in revaluation reserves 2003

б) decrease in revaluation reserves 2004

331

2. Actuarial gains and losses on defined benefit plans

а) gains 2005

б) losses 2006

332

3. Gains or losses on investments in equity capital

instruments

а) gains 2007

б) losses 2008

333

4. Gains or losses on shares in other comprehensive

gain or loss of associates

а) gains 2009

б) losses 2010

б) Items that can be subsequently reclassified into the

income statement in future periods

334

1. Gains or losses on translation of financial statements

of foreign operations

а) gains 2011

б) losses 2012

335

2. Gains or losses on hedging instruments of a net

investment in a foreign operation

а) gains 2013

б) losses 2014

336

3. Gains or losses on hedging instruments risk

(hedging ) cash flow

а) gains 2015

б) losses 2016

337

4. Gains or losses on securities available for sale

а) gains 2018

б) losses 2018

I. OTHER COMPREHENSIVE INCOME GROSS

(2003 + 2005 + 2007 + 2009 + 2011 + 2013 + 2015 +

2018) - (2004 + 2006 + 2008 + 2010 + 2012 + 2014 +

2016 + 2018) ≥ 0

2019

II. GROSS OTHER COMPREHENSIVE LOSS (2004

+ 2006 + 2008 + 2010 + 2012 + 2014 + 2016 + 2018) -

(2003 + 2005 + 2007 + 2009 + 2011 + 2013 + 2015 +

2017) ≥ 0

2020

III. TAX ON OTHER COMPREHENSIVE PROFIT

OR LOSS FOR THE PERIOD 2021

IV. NET OTHER COMPREHENSIVE INCOME (2019 - 2020 - 2021) ≥ 0

2022

V. NET OTHER COMPREHENSIVE LOSS

(2020 - 2019 + 2021) ≥ 0 2023

В. TOTAL COMPREHENSIVE NET RESULT FOR

THE PERIOD

I. TOTAL NET COMPREHENSIVE INCOME

(2001 - 2002 + 2022 - 2023) ≥ 0 2024

29

4.680

II. TOTAL NET COMPREHENSIVE LOSS

(2002 - 2001 + 2023 - 2022) ≥ 0 2025

29

26.078

Г. TOTAL NET COMPREHENSIVE PROFIT OR

LOSS (2027 + 2028) = АОП 2024 ≥ 0 or АОП 2025

> 0

2026

1. Attributable to majority owners of capital 2027

2. Attributable to owners who do not have control 2028




CASH FLOW STATEMENT



Position АОP Amount


1 2 3 4

А. CASH FLOWS FROM OPERATING ACTIVITIES 3001 221.451 280.714

I. Cash flow from operating activities ( 1 to 3)

1. Sales and advances received 3002 220.777 275.638

2. Interest received from operating activities 3003

3. Other proceeds from operating activities 3004 674 5.076

II. Cash outflows from operating activities ( 1 to 5) 3005 216.770 275.526

1. Payments to suppliers 3006 167.521 186.484

2. Salaries, wages and other personal expenses 3007 31.313 66.086

3. interest paid 3008 541 258

4. Income tax 3009

2.200

2.471

5. Outflows from other public revenues 3010 15.195 20.227

III. Net cash inflow from operating activities (I-II) 3011 4.681 5.188

IV. Net cash outflow from operating activities (II-I) 3012

Б. CASH FLOWS FROM INVESTING ACTIVITIES 3013

I. Cash flow from investing activities (1 to 5)

1. Sale of shares and stakes (net inflows) 3014

2. Sale of intangible assets , property, plant , equipment and biological assets 3015

3. Other financial investments (net inflows) 3016

4. Interest received from investing activities 3017

5. dividends received 3018

II. Cash outflows from investing activities ( 1 to 3) 3019 14.131

1. Purchase of shares ( net outflow) 3020 14.131

2. Purchase of intangible assets , property, plant , equipment and biological

assets 3021

3. Other financial investments (net outflows ) 3022

III. Net cash inflow from investing activities (I -II ) 3023

IV. Net cash outflow from investing activities ( I - II ) 3024 14.131

В. CASH FLOWS FROM FINANCING ACTIVITIES 3025

I. Cash flow from financing activities (1 to 5)

1. Increase in capital 3026

2. Long-term loans (net inflows ) 3027

3. Short-term loans (net inflows ) 3028

4. Other long-term liabilities 3029

5. Other current liabilities 3030

II. Cash used in financing activities (1 to 6) 3031 3.222 13.454

1. Purchase of own shares and stakes 3032

2. Long-term borrowings ( outflows ) 3033 9.214

3. Short-term borrowings ( outflows ) 3034

4. Other liabilities ( outflows ) 3035 310 485

5. Financial leasing 3036 2.912 3.755

6. dividends paid 3037

III. Net cash inflow from financing activities (I-II) 3038

IV. Net cash outflow from financing activities (II-I) 3039 3.222 13.454

Г. TOTAL CASH INFLOW ( 3001 + 3013 + 3025 ) 3040 221.451 280.714

Д. TOTAL CASH OUTFLOW ( 3005 + 3019 + 3031 ) 3041 219.992 303.111

Ђ. NET CASH INFLOW (3040 - 3041) 3042 1.459

Е. NET CASH OUTFLOW (3041 - 3040) 3043 22.397

Ж. CASH AT BEGINNING OF PERIOD 3044 470 23.092

З. FOREIGN EXCHANGE GAINS FROM TRANSLATION OF CASH 3045

И. FOREIGN EXCHANGE LOSSES FROM TRANSLATION OF CASH 3046 60 225

Ј. CASH AT END OF PERIOD (3042 - 3043 + 3044 + 3045 - 3046)

3047 1.869 470




STATEMENT OF CHANGES IN EQUITY



No

DESCRIPTION

Components of capital

АОP

30

АОP

31

АОP

32

Basic capital Subscribed

capital unpaid Reserves

1 2 3 4 5

1.

Opening balance of previous years as at

01.01.2019.

a) debit balance account 4001

4019

4037

b ) credit balance account 4002 14.061 4020

4038 4.540

2.

Correction of errors and changes in

accounting policies

a) updates on the debit side of the

account 4003

4021

4039

b ) Adjustments in credit account 4004

4022

4040

3.

Adjusted opening balance of the

previous year on the day 01.01.2019.

a) Adjusted debit balance of the account

( 1a + 2a - 2b ) ≥ 0 4005

4023

4041

b ) adjusted credit balance accounts ( 1b

- 2a + 2b ) ≥ 0 4006 14.061 4024

4042 4.540

4.

Changes to the previous 2018

a) turnover on the debit side of the account

4007

4025

4043

b ) trade in credit account 4008

4026

4044

5.

Balance at the end of the previous year

31.12.2019.

а) debit balance account

(3а + 4а - 4б) ≥ 0 4009

4027

4045

б) credit balance account

(3б - 4а + 4б) ≥ 0 4010 14.061 4028

4046 4.540

6.


accounting policies


account 4011

4029

4047

b ) the correction in credit account 4012

4030

4048

7.

Adjusted opening balance of the current

year as at 01.01.2019.

а) Adjusted debit balance account

(5а + 6а - 6б) ≥ 0 4013

4031

4049

б) corrected credit balance account

(5б - 6а + 6б) ≥ 0 4014 14.061 4032

4050 4.540

8.

Changes in the current 2019

а) Traffic on the debit side of the

account 4015

4033

4051


4034

4052

9.

Balance at end of current year

31.12 . 2019

a) debit balance account

( 7a + 8a - 8b ) ≥ 0 4017

4035

4053

b ) credit balance account

( 7b - 8a + 8b ) ≥ 0 4018 14.061 4036

4054 4.540

No

DESCRIPTION


AOP

35

AOP

047 и 237

AOP

34

Loss Treasury shares Profit

2 6 7 8

1.


01.01.2019 .

a) debit balance account 4055 17.445 4073

4091

b ) credit balance account 4056

4074

4092 238.818

2.


accounting policies


account 4057

4075

4093


4076

4094

3.




( 1a + 2a - 2b ) ≥ 0 4059 17.445 4077

4095


- 2a + 2b ) ≥ 0 4060

4078

4096 238.818

4.


a) turnover on the debit side of the

account 4061 26.078 4079

4097 31.575

b ) trade in credit account 4062 17.445 4080

4098

5.


31.12.2019.


(3а + 4а - 4б) ≥ 0 4063 26.078 4081

4099


(3б - 4а + 4б) ≥ 0 4064

4082

4100 207.243

6.


accounting policies

a) updates on the debit side of the account

4065

4083

4101


4084

4102

7.


year as at 01.01.2019.

а) Adjusted debit balance account (5а + 6а - 6б) ≥ 0

4067 26.078 4085

4103


(5б - 6а + 6б) ≥ 0 4068

4086

4104 207.243

8.



account 4069 4087

4105

b ) trade in credit account 4070 4088

4106 4.680

9.


31.12 . 2019


( 7a + 8a - 8b ) ≥ 0 4071

26.078 4089

4107


( 7b - 8a + 8b ) ≥ 0 4072

4090

4108 211.923

No DESCRIPTION

Components of othercomprehensive

AOP

330

AOP

331

AOP

332

Revaluation

reserves

Actuarial gains

or losses

Gains or losses on

investments in

equity capital

instruments

1 2 9 10 11

1.


01.01.2019 .


4127

4145


4128

4146

2.


accounting policies


account 4111

4129

4147


4130

4148

3.

Adjusted opening balance of the previous year on the day 01.01.2019.


( 1a + 2a - 2b ) ≥ 0 4113

4131

4149


- 2a + 2b ) ≥ 0 4114

4132

4150

4.



account 4115

4133

4151


4134

4152

5.


31.12.2019.


(3а + 4а - 4б) ≥ 0 4117

4135

4153


(3б - 4а + 4б) ≥ 0 4118

4136

4154

6.


accounting policies


account 4119

4137

4155


4138

4156

7.


year as at 01.01.2019.


(5а + 6а - 6б) ≥ 0 4121

4139

4157


(5б - 6а + 6б) ≥ 0 4122

4140

4158

8.


а) Traffic on the debit side of the account

4123

4141

4159


4142

4160

9.


31.12 . 2019


( 7a + 8a - 8b ) ≥ 0 4125

4143

4161

b) credit balance account

( 7b - 8a + 8b ) ≥ 0 4126

4144

4162

No

DESCRIPTION


AOP

333

AOP

334 и 335

AOP

336

Gains or losses from

equity interest in the rest

of the profit or loss of

associates

Gains or losses on

translation of

foreign operations

and the financial

statements

Gains or losses on

cash flow hedging

1 2 12 13 14

1.

Opening balance of previous years

as at 01.01.2019 .


4181

4199


4182

4200

2.


accounting policies


account 4165

4183

4201


4184

4202

3.


previous year on the day

01.01.2019.

a) Adjusted debit balance of the

account ( 1a + 2a - 2b ) ≥ 0 4167

4185

4203

b ) adjusted credit balance accounts

( 1b - 2a + 2b ) ≥ 0 4168

4186

4204

4.



account 4169

4187

4205


4188

4206

5.

Balance at the end of the previous

year 31.12.2019.


(3а + 4а - 4б) ≥ 0 4171

4189

4207


(3б - 4а + 4б) ≥ 0 4172

4190

4208

6.


accounting policies


account 4173

4191

4209


4192

4210

7.


current year as at 01.01.2019.


(5а + 6а - 6б) ≥ 0 4175

4193

4211


(5б - 6а + 6б) ≥ 0 4176

4194

4212

8.



account 4177

4195

4213


4196

4214

9.


31.12 . 2019


( 7a + 8a - 8b ) ≥ 0 4179

4197

4215


( 7b - 8a + 8b ) ≥ 0 4180

4198

4216

No

DESCRIPTION

Components of other

comprehensive

AOP

Total capital [ Σ

(red 1b Aug 3 to

Aug 15 ) - Σ (red 1a

Aug 3 to Aug 15 ) ]

≥ 0

AOP

Losses in excess of

capital [ Σ (red 1a

Aug 3 to Aug 15 )

- Σ (red 1b Aug 3

to Aug 15 ) ] ≥ 0

AOP

337

Gains or losses on

securities available for

sale

1 2 15 16 17

1.


as at 01.01.2019 .

a) debit balance account 4217 4235

239.974 4244


2.


accounting policies


account 4219

4236

4245


3.




account ( 1a + 2a - 2b ) ≥ 0 4221

4237

239.974

4246 b ) adjusted credit balance accounts (

1b - 2a + 2b ) ≥ 0 4222

4.



account 4223

4238 40.208

4247


5.


year 31.12.2019.


(3а + 4а - 4б) ≥ 0 4225

4239

199.766

4248 б) credit balance account

(3б - 4а + 4б) ≥ 0 4226

6.


accounting policies


account 4227

4240

4249


7.

Adjusted opening balance of the current year as at 01.01.2019.


(5а + 6а - 6б) ≥ 0 4229

4241

199.766

4250 б) corrected credit balance account

(5б - 6а + 6б) ≥ 0 4230

8.



account 4231

4242

4.680

4251


9.


31.12 . 2019


( 7a + 8a - 8b ) ≥ 0 4233

4243 204.446 4252


( 7b - 8a + 8b ) ≥ 0 4234


Bulevar Peka Dapcevica 25, 11000 Belgrade, Serbia Identification Number: 06968759, Tax Identification Number: 100062892 T.: +381 11 7151 707

[email protected] www.konsing.com

NOTES TO THE FINANCIAL STATEMENTS FOR 2019

1. GENERAL INFORMATION ABOUT THE COMPANY

"KONSING GROUP" is a limited liability company. The business name of the company is the Company for design, engineering, installation and maintenance in

telecommunications "KONSING GROUP"; with its headquarters in Bul. Peka Dapčevića Street 25.

Registration number: 06968759,

Tax Identification Number : 100062892,

VAT number: 135451139.

The predominant activity of the company is engineering activities and technical consulting.

According to the criteria for classification from the Law on Accounting ("Official Gazette of RS" No. 62/2013, 30/2018 and

73/2019), and based on data on the official middle exchange rate of the euro on 31.12.2019. year, the company is classified as a small legal entity.

The average number of employees in 2019. is 14 and in 2018. 44.

2. BASIS OF PREPARATION OF FINANCIAL STATEMENTS

Financial reports of the company "KONSING GROUP" with its headquarters in st. Bul.Peka Dapčevića 25 for the accounting

period ending on 31.12.2019 were compiled, on all material issues, in accordance with the International Financial Reporting

Standards for Small and Medium Enterprises (IFRS for SMEs), the Law on Accounting ('' Official RS Gazette No. 62/2013,

30/2018 and 73/2019), the Law on Audit (Official Gazette of RS No. 73/2019), other bylaws enacted on the basis of that Law,

and elected and adopted accounting policies set out in the Ordinance on Accounting and Accounting Policies. Items included in the Company's financial statements are measured and presented in the currency of the primary economic

environment in which the Company operates (functional currency). The functional currency, ie the reporting currency of the

Company is the dinar, and the reports are presented in thousands of dinars, unless otherwise stated.

All receivables and liabilities in foreign currencies are translated to their dinar equivalent at the middle exchange rate on the

balance sheet date. Foreign exchange gains and losses resulting from the translation of receivables and payables in foreign

currencies that have not been settled by the end of the year are recognized in the income statement as financial income or

expense.

Positive and negative exchange rate differences arising from the settlement of liabilities or collection of receivables during the

year at the exchange rate valid on the day of the business change, are stated in the income statement as financial income or

expenses.

3. ACCOUNTING POLICIES ADOPTED AND APPLIED

Accounting policies are defined by the Rulebook on Accounting and Accounting Policies.




4. REVENUES FROM SALES

Revenues from the sale of the company consist of the following types of revenues:

2019 in 000

dinars

2018 in 000

dinars

Revenues from sales of products and services to dependent legal entities 0 9.195

Revenues from sales of products and services on the domestic market 93.769 94.767

Revenues from sales of products and services on foreign markets 3.948 17.668

TOTAL REVENUES FROM SALES 97.717 121.630

The company generates revenues from engineering services, design and execution of works (installation) in

telecommunications.

5. Other operating income

Other operating income of the company consists of the following types of income:

2019 in 000 dinars 2018 in 000

dinars

Rental income 105.573 105.630

TOTAL 105.573 105.630

The company also generates income on the basis of rent, ie on the basis of leasing investment real estate to mobile telephony operators.

6. Cost of materials

The costs of the company's materials consist of the following types of costs:

2019 in 000 dinars 2018 in 000

dinars

Costs of materials for production 10 3.882

Costs of small inventory 39 208

Costs of overhead material 296 784

COSTS OF MATERIAL 345 4.874

COSTS OF FUEL AND ENERGY 13.366 11.536

TOTAL 13.711 16.410

7. SALARY EXPENSES, SALARY COMPENSATION AND OTHER PERSONAL EXPENSES

Wage costs, wage compensation and other personal expenses of the company consist of the following types of costs:

2019 in 000 dinars 2018 in 000

dinars

Wage costs and wage compensation (gross) 16.075 31.809

Costs taxes and wage contributions wage compensation 2.752 5.764

costs Compensation fees under employment contracts 158 2.846

Compensation costs based on lease agreements 7.821 8.625

Compensation costs under temporary and occasional contracts 577 424

Other personal expenses and fees 2.129 8.195

TOTAL 29.512 57.663




8. COSTS OF PRODUCTION SERVICES

The costs of the Company's production services consist of the following types of expenses:

2019 in 000 dinars 2018 in 000

dinars

Costs of performance 89.544 94.494

Costs of transport services 1.108 1.813

Costs of transport services Costs of maintenance services 3.411 4.648

Costs of rent 44.317 45.119

Costs of advertising and propaganda 45 0

Other costs of production services 411 525

TOTAL 138.836 146.599

The Company leases certain real estate, land and equipment from legal entities and individuals. Leases where the lessor retains

substantially all the risks and rewards of ownership are classified as operating leases. Payments made under an operating lease

are charged to the income statement on a straight-line basis over the term of the lease.

9. COSTS OF AMORTIZATION AND RESERVATION

The company's depreciation and provisioning costs consist of the following types of costs

2019 in 000 dinars 2018.година

in 000 dinars

Depreciation costs 3.289 4.608

TOTAL 3.289 4.608

Depreciation for 2019 amounts to RSD 3,289 thousand (for 2018: RSD 4,608 thousand) and is included in operating

expenses for the reporting period.

The Company did not calculate and reserve for employee benefits in accordance with IAS 19 - Employee Benefits because

management estimated that the effect on the presented financial statements would not be material, and that the cost of

obtaining that information would outweigh the benefits.

10. Intangible costs

The Company's intangible costs consist of the following types of expenses:

2019 in 000 dinars 2018 in 000

dinars

Costs of non-productive services 6.349 6.954

Representation costs 485 266

Costs of insurance premiums 306 556

Costs of payment transactions 310 485

Tax costs 880 695

Other intangible costs 1.394 2.103

TOTAL 9.724 11.059




11. FINANCIAL INCOME

The Company's financial income consists of the following types of income:

2019 in 000 dinars 2018 in 000

dinars

Interest income 2 26

Positive foreign exchange gains 32 83

Income based on the effect of the currency clause 16 39

TOTAL 50 148

12. FINANCIAL EXPENSES

The Company's financial expenses consist of the following types of expenses:

2019 in 000 dinars 2018 in 000

dinars

Interest expenses 396 467

Negative exchange rate differences 223 499

Expenses based on the effect of the currency clause 58 44

TOTAL 677 1.010

13. OTHER INCOME

Other revenues of the Company consist of the following types of revenues:

2019 in 000 dinars 2018 in 000

dinars

Gains from sale of equipment 305 1.683

Revenues from reduction of liabilities 702 4.989

Other unmentioned revenues 281 1.101

TOTAL 1.288 7.773

The structure of income from the reduction of liabilities consists of a direct write-off of obsolete liabilities in the amount of

702 thousand dinars.

14. OTHER EXPENSES

Other expenses of the company consist of the following types of expenses:

2019 in 000 dinars 2018 in 000

dinars

Losses from sale of equipment 156 0

Losses from sale of equity 0 100

Expenses from direct write-off of receivables 1.261 17.976

Other unmentioned expenses 1.459 303

Impairment of investment property 0 2.681

Impairment of value of materials 0 2.727

TOTAL 2.876 23.787




The company made a direct write-off, at the expense of expenses, of obsolete receivables in the amount of 1,261 thousand

dinars.

15. PROPERTY, PLANT AND EQUIPMENT

The condition and changes in the company's real estate, plant and equipment are shown in the table.

Construction

objects

Plant

and equipment

Land TOTAL

Purchase value

Initial balance - 01.01.2019. 626 71.336 0 71.962

Procurement and other increases 0 552 0 552

Alienation and expenditure 0 43.422 0 43.422

Final situation-31.12.2019. 626 28.466 0 29.092

Value adjustment

Initial balance - 01.01.2019. 210 65.206 0 65.416

Depreciation 16 2.852 0 2.868

Alienation and expenditure 0 40.971 0 40.971

Final balance-31.12.2019. 226 27.086 0 27.312

Current value 416 6.130 0 6.546

31.12.2019. 400 1.380 0 1.780

31.12.2018. 416 6.130 0 6.546

The decrease in the position of plant and equipment in the amount of 40,971 thousand dinars and refers to:

- sale of equipment and

- handing over old and used equipment to waste.

16. INVESTMENT PROPERTY

The account changes were as follows:

31.12.2019.

in 000 dinars

31.12.2018

in 000 dinars

Balance at the beginning of the year 267.787 270.469

Increase 0 0

Decrease 0 2.682

Balance at the end of the year 267.787 267.787

The Company leases investment real estate to mobile telephony operators.

17. OTHER LONG - TERM FINANCIAL INVESTMENTS

31.12.2019.

in 000 dinars

31.12.2018.

in 000 dinars

Long-term deposits 3.963 4.091

TOTAL 3.963 4.091




18. LONG - TERM RECEIVABLES

31.12.2019.

in 000 dinars

31.12.2018.

in 000 dinars

Other long-term placements 4.235 4.256

TOTAL 4.235 4.266

19. DEFERRED TAX ASSETS

31.12.2019.

in 000 dinars

31.12.2018.

in 000 dinars

Deferred tax assets 0 255

TOTAL 0 255

Deferred tax assets relate to the difference between the net book value according to tax and accounting regulations.

20. SUPPLIES

31.12.2019.

in 000 dinars

31.12.2018

in 000 dinars

Material 10.081 10.380

Goods in stock at other legal entities 392 392

Advances 3.954 5.294

TOTAL 14.427 16.066

The inventory with stocks as of December 31, 2019 was performed by the appointed commission by Decision No. 742/2019

of December 20, 2019. The study on the census was adopted on January 23, 2020 and all corrections were made in such a

way that the stated book balance of inventories corresponds to the actual state.

21. RECEIVABLES IN RESPECT OF SALE

31.12.2019.

in 000 dinars

31.12.2018.

in 000 dinars

Customers in the country 32.616 26.395

Customers abroad 208 6.173

TOTAL 32.824 32.568

The company has a harmonized situation with all significant customers.

22. OTHER RECEIVABLES

31.12.2019.

in 000 dinars

31.12.2018.

in 000 dinars

Receivables from funds based on basic payment of fees 0 318

Other receivables 120 272

TOTAL 120 590




23. CASH EQUIVALENTS AND CASH

31.12.2019.

in 000 dinars

31.12.2018.

in 000 dinars

Current account -SOCIETE GENERALE BANK 7 7

Current account -SOCIETE GENERALE -Наменски 2 2

Current account - DIREKTNA банка 423 224

Current account -RAIFFEISEN BANKA 7 7

Current account -UNICREDIT BANKA 4 2

Current account -SBERBANKA 2 22

Foreign currency account -USD- DIREKTNA 0 3

Foreign currency account -NOK-DIREKTNA 1.213 0

Main box office 11 3

Cash in business accounts with banks 200 200

TOTAL 1.869 470

24. ACTIVE DEFERRED INCOME

31.12.2019.

in 000 dinars

31.12.2018.

in 000 dinars

Active accruals 205 5.027

TOTAL 5.027

25. SHARE AND OTHER CAPITAL

31.12.2019.

у 000 дин.

31.12.2018.

у 000 дин.

Shares - founders individuals 9.386 9.386

Shares COM GROUP INTERNATIONAL 4.675 4.675

TOTAL 14.061 14.061

26. RESERVES

31.12.2019.

in 000 dinars

31.12.2018.

in 000 dinars

Legal reserves 3.643 3.643

Statutory reserves 897 897

TOTAL 4.540 4.540




27. RETAINED EARNINGS AND LOSSES

31.12.2019.

in 000 dinars

31.12.2018.

in 000 dinars

Retained earnings of previous years 207.243 207.243

Profit for the current year 4.680 0

Balance as of 31.12. 211.923 207.243

Loss for the current year 0 26.078

Loss for previous years 26.078 0

Balance as of 31.12. 26.078 26.078

28. DEFERRED TAX LIABILITIES

31.12.2019.

in 000 dinars

31.12.2018.

in 000 dinars

Deferred tax liabilities 1.068 0

TOTAL 1.068 0

Deferred tax liabilities relate to the difference between the net book value according to tax and accounting regulations.

29. SHORT - TERM FINANCIAL LIABILITIES

31.12.2019.

in 000 dinars

31.12.2018.

in 000 dinars

Part of long-term financial leasing liabilities maturing up to 1 year 0 2.859

Other short-term financial liabilities 3.405 3.405

TOTAL 3.405 6.264

30. BUSINESS DUTIES

31.12.2019.

in 000 dinars

31.12.2018.

in 000 dinars

Advances received deposits and bails 7.984 15.342

Suppliers in the country 34.895 32.958

Suppliers abroad 6.689 9.834

TOTAL 49.568 58.134

Trade payables are aligned with those suppliers from which we received IOS. Balances are adjusted with other suppliers as

agreed during the year.




31. OTHER SHORT - TERM LIABILITIES

31.12.2019.

in 000 dinars

31.12.2018.

in 000 dinars

Liabilities based on salaries and salary compensations

Liabilities for net salaries and salary compensations 931 978

Liabilities for payroll taxes and wage compensations at the expense of the

employee

113 126

Liabilities for salary contributions and salary compensations at the expense

of the employee

269 295

Obligations for salary contributions and salary compensations at the

expense of the employer

226 254

Liabilities for net refunds of salaries that are refunded 0 79

Tax liabilities and contributions to employee benefit reimbursements that

are refundable

0 32

Liabilities for taxes and contributions to salary compensations at the

expense of the employer that are refunded

0 20

Тоtal 1.539 1.784

Other obligations

Liabilities to natural persons for fees under contracts 403 2.239

Other liabilities 62.125 63.218

Тоtal 62.528 65.457

TOTAL 64.067 67.241

Liabilities based on salary refer to the salary for December 2019, which was calculated but not paid. The obligations were

settled in January 2020.

The largest part of other liabilities, in the amount of RSD 62,021 thousand, relates to the gross liability for profit sharing to the founder – ComGroup Intel..

32. LIABILITIES IN RESPECT OF VAT AND OTHER PUBLIC REVENUES AND ACCRUED INCOME AND

DEFERRED INCOME

31.12.2019.

in 000 dinars

31.12.2018.

in 000 dinars

Liabilities based on VAT 1.008 495

Liabilities based on taxes, contributions and other duties 668 3.307

Accrued costs and deferred revenue 3.404 3.426

TOTAL 5.080 7.228

Liabilities based on value added tax for December 2019 were settled by payment from January 15, 2020.

33. LITIGATION

The company is on 31.12.2019. had a court case in the Third Basic Court in Belgrade. In litigation, Konsing group ltd was

sued by former employee Dejan Milosevic for unpaid wages.




34. PLEDGE OBLIGATIONS

The company on 31.12.2019. had the following registered pledges on receivables, in favor of pledge creditors:

Pledge creditor Basic amount of secured receivables Stock number

1. „Sberbank Srbija“ ad Belgrade 200.000,00 RSD 2853/2018

35. FOREIGN EXCHANGE RATES

The official exchange rates (official middle exchange rate of the National Bank of Serbia) of foreign currencies used for

conversion into the dinar equivalent of foreign currency balance sheet items are as follows:

31.12.2019. 31.12.2018.

EUR 117,5928 118,1946

NOK 11,9017 11,8769

USD 104,9186 103,3893

In Belgrade, June 24, 2020.

Person responsible for compiling financial statements Legal representative




BALANCE SHEET

On December 31, 2018 in thousands of RSD

Group accounts

, account

POSITION AOP

Note numb

er

Amount

Previous Year

Current Year

End state 31.12.2015

Initial state

01.01.2015

1 2 3 4 5 6 7

ASSETS

00 A. SUBSCRIBED AND PAIDIN CAPITAL 0001

B. FIXED ASSETS (0003 + 0010 + 0019 + 0024 + 0034)

0002 283.257 290.841 550.213

01 I. INTANGIBLE ASSETS (0004 + 0005 + 0006 + 0007 + 0008 + 0009)

0003 577 1.449 2.764

010 and part 019

1.Investments in development 0004

011, 012 and part

019

2. Concessions , patents , licenses, trademarks, service marks , software and other rights

0005 577 1.449 2.764

013 and part 019

3.Goodwill 0006

014 and part 019

4.Other intangible assets 0007

015 and part 019

5.Intangible assets in progress 0008

016 and part 019

6. Advances for intangible assets 0009

02 II. PROPERTY, PLANT AND EQUIPMENT (0011+0012+0013+0014+0015+0016+0017+0018)

0010 274.333 280.655 522.226

020, 021 and part

029 1.Land 0011 16 22.964

022 and part 029

2.Building Structures 0012 16 416 432 205.140

023 and part 029

3. Plant and Equipment 0013 16 6.130 9.754 15.151

024 and part 029

4. Investment properties 0014 17 267.787 270.469 278.971

025 and part 029

5. Other property, plant and equipment 0015

026 and part 029

6. Property, plant and equipment in preparation 0016

027 and part 029

7. Leasehold property, plant and equipment 0017

028 and part 029

8. Advances for property , plant and equipment 0018

03 III. BIOLOGICAL RESOURCES (0020 + 0021 + 0022 + 0023)

0019

030, 031

and part 039


032 and part 039

2.Basic herd 0021

037 and part 039

3.Biological assets in preparation 0022

038 and part 039

4.Advances for biological agents 0023

04, except

047

IV. LONG TERM INVESTMENTS (0025+0026+0027+0028+0029+0030+0031+0032+0033)

0024 4.091 4.471 5.898

040 and part 049

1.Shares in subsidiaries 0025 18 100 2.359

041 and part 049

2. Shares in associated companies and joint ventures

0026

042 and part 049

3. Shares in other legal entities and other securities available for sale

0027

part 043,

part 044 and part

049

4. Longterm investments parent company and subsidiaries faces

0028

part 043,

part 044 and part

049

5.Longterm placements with other related parties 0029

part 045 and part

049 6.Longterm investments in the country 0030

part 045 and part

049 7.Longterm investments abroad 0031

046 and part 049

8.Securities held to maturity 0032

048 and part 049

9. Other longterm investments 0033 19 4.091

4.371 3.539

05 V. LONGTERM RECEIVABLES (0035+0036+0037+0038+0039+0040+0041)

0034 20 4.256 4.266 19.325

050 and part 059

1. Receivables from parent companies and subsidiaries 0035 14.817

051 and part 059

2.Receivables from other related parties 0036

052 and part 059

3. Receivables from the sale of the commodity loan 0037 4.256 4.266 4.508

053 and part 059

4. Receivables for sale by contracts financial leasing

0038

054 and part 059

5.Claims based on the bail 0039

055 and part 059

6.Disputed and doubtful receivables 0040

056 and part 059

7.Other longterm receivables 0041

288 V. DEFERRED TAX ASSETS 0042 21 255 556 4.779

G. CURRENT ASSETS (0044+0051+0059+0060+0061+0062+0068+0069+0070)

0043 55.121 144.048 131.243

Class 1 I. INVENTORIES (0045+0046+0047+0048+0049+0050)

0044 22 16.066 22.709 40.294

10 1.Supplies , spare parts , tools and inventory 0045 10.380 16.254 31.522

11 2.Work in progress and unfinished services 0046 2.795


13 4. Goods 0048 392 856 856


15 6.Advances paid to suppliers 0050 5.294 5.599 5.121

20 II. RECEIVABLES FROM SALE (0052+0053+0054+0055+0056+0057+0058)

0051 23 32.568 80.479 61.106

200 and part 209

1.Domestic parent and subsidiaries 0052 3.103

201 and part 209

2.Buyers abroad parent and subsidiaries 0053 11.261 14.328

202 and part 209

3.Domestic other related parties 0054

203 and part 209

4. Buyers abroad other related parties 0055

204 and part 209

5. Domestic 0056 23.395 68.503 37.139

205 and part 209

6.Buyers abroad 0057 6.173 715 6.536

206 and part 209

7.Other receivables from sales 0058


22 IV. OTHER RECEIVABLES 0060 24 590

3.547 1.873

236 FINANCIAL RESOURCES TO BE MEASURED AT FAIR VALUE THROUGH PROFIT OR LOSS

0061

23 except

236 and 237

VI. SHORT TERM INVESTMENTS (0063+0064+0065+0066+0067)

0062 100

230 and part 239

1. Shortterm loans and investments parent and subsidiaries

0063

231 and part 239

2. Shortterm credits and loans stay connected legal entities

0064

232 and part 239 3.Shortterm loans and loans in the country 0065 100

233 and part 239 4.Shortterm loans and loans abroad 0066

234, 235,

238 and part 239

5.Other shortterm financial investments 0067

24 VII. CASH AND CASH EQUIVALENTS 0068 25 470 23.092 5.368

27 VIII. VALUE ADDED TAX 0069 400 1.041 35928

except 288

IX. ACCRUED 0070 26 5.027 13.180 22.143

D. TOTAL OPERATING ASSETS=OPERATING ASSETS (0001+0002+0042+0043)

0071 338.633 435.445 686.235

88 DJ. OFFBALANCE SHEET ASSETS 0072

LIABILITIES

А. CAPITAL (0402+0411 0412+0413+0414+0415 0416+0417 +0420 0421) ≥ 0 = (0071 0424 0441 0442)

0401 199.766 239.974 269.175

30 1.SHARE CAPITAL (0403+0404+0405+0406+0407+0408+0409+0410) 0402 27 14.061 14.061 14.061


301 2.The shares of limited liability companies 0404 14.061 14.061 14.061

302 3.Shares 0405






31 II. SUBSCRIBED AND PAIDIN CAPITAL 0411 047 and


32 IV. RESERVES 0413 28 4.540 4.540 4.540

330 V. Revaluation reserves based on Revaluation of intangible assets , PROPERTY, PLANT AND EQUIPMENT

0414

33 except

330

VI. UNREALIZED GAINS ON SECURITIES SECURITIES AND OTHER COMPONENTS OTHER COMPREHENSIVE RESULTS ( Credit balance accounts of group 33 except 330 )

0415

33 except

330

VII. UNREALIZED LOSSES ON SECURITIES SECURITIES AND OTHER COMPONENTS OTHER COMPREHENSIVE RESULTS


0416

34 VIII. RETAINED EARNINGS (0418+0419) 0417 29 207.243 238.818 250.574

340 1.Profit from previous years 0418 207.243 224.826 230.394

341 2.Profit for the current year 0419 13.992 20.180

IX. Noncontrolling interests 0420

35 X. LOSS (0422+0423) 0421 26.078 17.445


351 2.Loss of current year 0423 26.078

B. LONGTERM PROVISIONS AND LIABILITIES (0425+0432)

0424 2.866 64.125

40 I. LONGTERM PROVISIONS (0426+0427+0428+0429+0430+0431)

0425





405 5.Provision for lawsuits 0430 402 and

409 6.Other longterm provisions 0431

41 II. LONGTERM LIABILITIES (0433+0434+0435+0436+0437+0438+0439+0440)

0432 30 2.866 64.125





414 5.Longterm loans and loans in the country 0437 57.897

415 6.Longterm loans and loans abroad 0438

416 7.Liabilities arising from finance lease 0439 2.866 6.528

419 8.Other longterm liabilities 0440


42 to 49 (except

498)

Г. SHORTTERM LIABILITIES (0443+0450+0451+0459+0460+0461+0462)

0442 138.867 192.605 352.935

42 I. CURRENT LIABILITIES (0444+0445+0446+0447+0448+0449)

0443 31 6.264 16.033 96.300

420 1. Shortterm loans from its parent and subsidiary legal entities

0444

421 2. Shortterm loans from other related parties 0445

422 3.Shortterm credits and loans in the country 0446 9.231

423 4.Shortterm borrowings abroad 0447

427 5. Liabilities on fixed assets and assets discontinued operations held for sale

0448

424, 425,

426 and 429

6.Other current financial liabilities 0449 6.264 6.802 96.300

430 II. ADVANCES AND DEPOSITS 0450 32 15.342 27.609 48.58143

except 430

III. BUSINESS DUTIES (0452+0453+0454+0455+0456+0457+0458)

0451 32 42.792 58.159 62.183

431 1.Suppliers parent and subsidiaries in the country 0452

432 2. Suppliers parent and subsidiaries in abroad 0453 5.045 11.020

433 3.Suppliers other related parties in the country 0454

434 4.Suppliers Other related legal entities abroad 0455

435 5.Suppliers in the country 0456 32.958 34.819 39.478

436 6.Foreign suppliers 0457 9.843 18.295 11.685

439 7.Other operating liabilities 0458 44, 45

and 46

IV. OTHER CURRENT LIABILITIES 0459 33 67.241 77.031 140.653

47 V. LIABILITIES FOR ADDED TAX VALUE 0460 34 495 3.263 882

48 VI. Other taxes , contributions AND OTHER DUTIES

0461 34 3.307 6.965 3.817

49 except

498 VII. ACCRUALS 0462 34 3.426 3.545 519

Д. LOSS ABOVE CAPITAL VALUE (0412+0416+0421 0420 0417 0415 0414 0413 0411 0402) ≥ 0 = (0441+0424+0442 0071) ≥ 0

0463

DJ. TOTAL LIABILITIES (0424+0442+0441+0401 0463) ≥ 0 0464 338.633 435.4485 686.235



Name: KONSING GROUP DOO BELGRADE Registered office: BELGRADE, Bulevar Peka Dapcevica 25

INCOME STATEMENTS for the period from 01.01. to 31.12.2018


Group

accounts,

account


number

Amount


1 2 3 4 5 6


60 to 65,

except

62

and 63

А. OPERATING INCOME (1002+1009+1016+1017) 1001 227.438 362.516


(1003+1004+1005+1006+1007+1008) 1002 178










144


34


(1010+1011+1012+1013+1014+1015) 1009 4 121.630 253.032




parent subsidiaries in foreign markets 1011 9.195 79.698

612 3. Income from sale of goods and services to other

related parties in the domestic market 1012




domestic market 1014 94.767 122.043

615 6. Income of finished products and services

foreign market 1015 17.668 51.291


Grants, donations, etc. 1016


EXPENSES 1017 5 105.630 109.484

Operating expense

50 to 55,

62 and

63


(1019 - 1020 - 1021+1022+1023+1024+1025

+1026+1027+1028+1029) ≥ 0

1018 236.339 385.700



AND EFFECTS 1020 6 1.136




finished products and unfinished SERVICES 1022 2.795

51

except

513

V. COST OF MATERIALS 1023 7 4.874 21.578

513 VI. COST OF FUEL AND ENERGY 1024 7 11.536 18.659


AND OTHER PERSONNEL EXPENSES 1025 8 57.663 146.254

53 VIII. COSTS OF PRODUCTION 1026 9 146.599 162.998

540 IX. DEPRECIATION 1027 10 4.608 11.639

541 to

549 X. COSTS OF LONG-TERM PROVISIONS 1028

55 XI. IMMATERIAL COSTS 1029 11 11.059 22.913


g. OPERATING LOSS (1018 - 1001) ≥ 0 1031 8.901 21.184

66 D. FINANCE INCOME (1033+1038+1039)

1032

12 148 9.346

66,

except

662, 663

and 664



(1034+1035+1036+1037)

1033 984

660 1. Financial income from parent companies and

subsidiaries 1034 984


665 3. Income from participation in profit of associated

legal entities and joint ventures 1036


662 II. INTEREST INCOME (FROM THIRD PARTIES) 1038 26 56

663 and

664

III. FOREIGN EXCHANGE GAINS AND POSITIVE


(BY THIRD PARTIES)

1039 122 8.306

56 DJ. FINANCIAL EXPENSES (1041+1046+1047) 1040 13 1.010 12.082

56,

except

562, 563

and 564



EXPENSES (1042+1043+1044+1045)

1041 1.190


subsidiary legal entities 1042 1.190


legal entities 1043

565 3. Expenses from participation in loss of associated


566 and


562 II. INTEREST EXPENSES ( BY THIRD PARTIES) 1046 467 7.325

563 and

564

III. FOREIGN EXCHANGE GAINS AND

NEGATIVE EFFECTS OF CURRENCY CLAUSE

( BY THIRD PARTIES)

1047 543 3.567


Z. LOSS FROM FINANCING (1040 -1032) 1049 862 2.736

683 and

685



PROFIT OR LOSS

1050

583 and

585



PROFIT OR LOSS

1051

67 and

68,

except

683 and

685

Ј. OTHER INCOME 1052 14 7.773 65.542

57 and

58,

except

583 and

585

К. OTHER EXPENSES 1053 15 23.787 16.706


BEFORE TAX

(1030 - 1031+1048 - 1049+1050 - 1051+1052 - 1053)

1054 22.916


BEFORE TAX

(1031 - 1030+1049 - 1048+1051 - 1050+1053 - 1052)

1055 25.777

69-59

М. NET PROFIT FROM SUSPENDED , THE

EFFECTS OF CHANGES ACCOUNTING POLICIES

AND CORRECTION ERRORS OF PREVIOUS

PERIOD

1056

59-69

N. NET LOSS FROM SUSPENDED , EXPENSES

FOR CHANGES ACCOUNTING POLICIES AND


1057


(1054 - 1055+1056 - 1057) 1058 22.916

О. LOSS BEFORE TAX (1055 - 1054+1057 - 1056) 1059 25.777

P. INCOME TAXES

721 I. Income tax expense 1060 4.671

part 722 II. Deferred tax expense 1061 301 4.253



S. NET PROFIT (1058 - 1059 - 1060 - 1061 + 1062 -

1063) 1064 13.992

T. NET LOSS (1059 - 1058 + 1060 + 1061 -1062 +

1063) 1065 25.078



II. NET PROFIT DUE TO

Majority owner 1067




Majority owner 1069










Group

account

s,accou

nt

POSITION АОP

Note Amount


1 2 3 4 5 6



29

20.180


29

26.078




330





331


а) gains 2005

б) losses 2006

332


instruments

а) gains 2007

б) losses 2008

333



а) gains 2009

б) losses 2010

б) Items that can be subsequently reclassified into the income statement in future periods

334



а) gains 2011

б) losses 2012

Група

ПОЗИЦИЈА АОП

Напомена Износ

рачуна, рачун

број Текућа година Претходна година

1 2 3 4 5 6

335



а) gains 2013

б) losses 2014

336



а) gains 2015

б) losses 2016

337


а) gains 2018

б) losses 2018


(2003 + 2005 + 2007 + 2009 + 2011 + 2013 + 2015 + 2018) - (2004 + 2006 + 2008 + 2010 + 2012 + 2014 + 2016 + 2018) ≥ 0

2019

II. GROSS OTHER COMPREHENSIVE LOSS (2004 +

2006 + 2008 + 2010 + 2012 + 2014 + 2016 + 2018) - (2003 + 2005 + 2007 + 2009 + 2011 + 2013 + 2015 + 2018) ≥ 0

2020




2022

V. NET OTHER COMPREHENSIVE LOSS (2020 - 2019 + 2021) ≥ 0

2023


THE PERIOD

I. TOTAL NET COMPREHENSIVE INCOME (2001 - 2002 + 2022 - 2023) ≥ 0

2024

29

20.180

II. TOTAL NET COMPREHENSIVE LOSS (2002 - 2001 + 2023 - 2022) ≥ 0

2025

29

26.078


LOSS ( 2027 + 2028 ) = 2024 AOP ≥ 0 or AOP 2025 >

0

2026






CASH FLOW STATEMENT





1 2 3 4




2. Interest received from operating activities 3003

3. Other proceeds from operating activities 3004 5.076 1.921




3. interest paid 3008 258 6.776

4. Income tax 3009 2.471


III. Net cash inflow from operating activities (I-II) 3011 5.188

IV. Net cash outflow from operating activities (II-I) 3012 76.268

Б. CASH FLOWS FROM INVESTING ACTIVITIES 3013 262.198



2. Sale of intangible assets , property, plant , equipment and biological assets 3015 262.198




II. Cash outflows from investing activities ( 1 to 3) 3019 14.131 23.635

1. Purchase of shares ( net outflow) 3020 14.131 23.635


assets 3021



238.563

IV. Net cash outflow from investing activities ( I - II ) 3024

14.131










2. Long-term borrowings ( outflows ) 3033 9.214 136.145


4. Other liabilities ( outflows ) 3035 485 2.756







Ђ. NET CASH INFLOW (3040 - 3041) 3042 19.274

Е. NET CASH OUTFLOW (3041 - 3040) 3043 22.397

Ж. CASH AT BEGINNING OF PERIOD 3044 23.092 5.368


И. FOREIGN EXCHANGE LOSSES FROM TRANSLATION OF CASH 3046 225 1.550


3047 470 23.092




STATEMENT OF CHANGES IN EQUITY for the period from 01.01.2018 to 31.12.2018 year


No

DESCRIPTION


АО

P

30 АО

P

31 АО

P

32



1 2 3 4 5

1.


01.01.2017.


4019

4037

b ) credit balance account 4002 14.061 4020

4038 4.540

2.


accounting policies


account 4003

4021

4039


4022

4040

3.




( 1a + 2a - 2b ) ≥ 0 4005

4023

4041


- 2a + 2b ) ≥ 0 4006 14.061 4024

4042 4.540

4.



account 4007

4025

4043


4026

4044

5.


31.12.2017.

а) debit balance account (3а + 4а - 4б) ≥ 0

4009

4027

4045

б) credit balance account (3б - 4а + 4б) ≥ 0

4010 14.061 4028

4046 4.540

6.

Correction of errors and changes in accounting policies


account 4011

4029

4047


4030

4048

7.


year as at 01.01.2017.


4013

4031

4049

б) corrected credit balance account (5б - 6а + 6б) ≥ 0

4014 14.061 4032

4050 4.540

8.


а) Traffic on the debit side of the account 4015

4033

4051


4034

4052

9.


31.12 . 2017


( 7a + 8a - 8b ) ≥ 0 4017

4035

4053


( 7b - 8a + 8b ) ≥ 0 4018 14.061 4036

4054 4.540

No DESCRIPTION Components of capital

AO

P

35 AOP

047 и 237

AOP

34

Loss Treasury shares

Profit

2 6 7 8

1.


01.01.2017 .


4073

4091


4074

4092 250.574

2.


accounting policies


account 4057

4075

4093


4076

4094

3.




( 1a + 2a - 2b ) ≥ 0 4059

4077

4095


- 2a + 2b ) ≥ 0 4060

4078

4096 250.574

4.



account 4061 17.445 4079

4097 25.748


4080

4098 13.992

5.


31.12.2017.


4063 17.445 4081

4099


4064

4082

4100 238.818

6.



account 4065

4083

4101


4084

4102

7.


year as at 01.01.2017.


4067 17.445 4085

4103


4068

4086

4104 238.818

8.


а) Traffic on the debit side of the account 4069 26.078 4087

4105 31.575

b ) trade in credit account 4070 17.445 4088

4106

9.


31.12 . 2017


( 7a + 8a - 8b ) ≥ 0 4071

26.078

4089

4107


( 7b - 8a + 8b ) ≥ 0 4072

4090

4108 207.243

No DESCRIPTION


AOP

330

AOP

331

AOP

332

Revaluation reserves

Actuarial gains or losses

Gains or losses on investments in

equity capital instruments

1 2 9 10 11

1.


01.01.2017 .


4127

4145


4128

4146

2.


accounting policies


account 4111

4129

4147


4130

4148

3.




( 1a + 2a - 2b ) ≥ 0 4113

4131

4149


- 2a + 2b ) ≥ 0 4114

4132

4150

4.



account 4115

4133

4151


4134

4152

5.


31.12.2017.


4117

4135

4153


4118

4136

4154

6.



account 4119

4137

4155


4138

4156

7.


year as at 01.01.2017.


4121

4139

4157


4122

4140

4158

8.



4141

4159


4142

4160

9.


31.12 . 2017 a) debit balance account

( 7a + 8a - 8b ) ≥ 0 4125

4143

4161


( 7b - 8a + 8b ) ≥ 0 4126

4144

4162

No

DESCRIPTION


AOP

333

AOP

334 и 335

AOP

336

Gains or losses from equity interest in the rest of the profit or loss of associates

Gains or losses on translation of foreign operations and the financial statements

Gains or losses on cash flow hedging

1 2 12 13 14

1.


as at 01.01.2017 .


4181

4199


4182

4200

2.


accounting policies


account 4165

4183

4201


4184

4202

3.



01.01.2017.


account ( 1a + 2a - 2b ) ≥ 0 4167

4185

4203


( 1b - 2a + 2b ) ≥ 0 4168

4186

4204

4.



account 4169

4187

4205


4188

4206

5.


year 31.12.2017.


4171

4189

4207


4172

4190

4208

6.



account 4173

4191

4209


4192

4210

7.




4175

4193

4211


4176

4194

4212

8.



4195

4213


4196

4214

9.


31.12 . 2017


( 7a + 8a - 8b ) ≥ 0 4179

4197

4215


( 7b - 8a + 8b ) ≥ 0 4180

4198

4216

No

DESCRIPTION

Components of other comprehensive

AOP

Total capital [ Σ (red 1b Aug 3 to Aug 15 ) - Σ (red 1a Aug 3 to Aug

15 ) ] ≥ 0

AOP

Losses in excess of capital [ Σ (red 1a Aug 3 to Aug 15 ) - Σ (red 1b

Aug 3 to Aug 15 ) ] ≥ 0

AOP

337

Gains or losses on securities available for

sale

1 2 15 16 17

1.


as at 01.01.2017 .


269.175 4244


2.


accounting policies


account 4219

4236

4245


3.



01.01.2017.


account ( 1a + 2a - 2b ) ≥ 0 4221

4237

269.175 4246


( 1b - 2a + 2b ) ≥ 0 4222

4.



account 4223

4238 29.201 4247


5.


year 31.12.2017.


4225

4239

239.974 4248


4226

6.



account 4227

4240

4249


7.




4229

4241

239.974 4250


4230

8.



4242

40.208 4251


9.


31.12 . 2017


( 7a + 8a - 8b ) ≥ 0 4233

4243 199.766 4252 b ) credit balance account

( 7b - 8a + 8b ) ≥ 0 4234



Registered office: NEW BELGRADE, Surcinski put St.1A

BALANCE SHEET

On December 31, 2017


Group

accounts,

account

POSITION AOP Note

number

Amount

Previous Year

Current

Year

End state

31.12.2015

Initial state

01.01.2015

1 2 3 4 5 6 7

ASSETS

00 A. SUBSCRIBED AND PAID-IN CAPITAL 0001

B. FIXED ASSETS

(0003 + 0010 + 0019 + 0024 + 0034) 0002 316.858 550.213 545.623

01 I. INTANGIBLE ASSETS

(0004 + 0005 + 0006 + 0007 + 0008 + 0009) 0003 1.449 2.764 3.899

010 and

part 019 1.Investments in development 0004

011, 012

and part

019

2. Concessions , patents , licenses, trademarks, service

marks , software and other rights 0005 1.449 2.764 3.899

013 and

part 019 3.Goodwill 0006

014 and

part 019 4.Other intangible assets 0007

015 and

part 019 5.Intangible assets in progress 0008

016 and

part 019 6. Advances for intangible assets 0009

02 II. PROPERTY, PLANT AND EQUIPMENT

(0011+0012+0013+0014+0015+0016+0017+0018) 0010 280.655 522.226 507.835

020, 021

and part

029

1.Land 0011 16 22.964 22.964

022 and

part 029 2.Building Structures 0012 16 432 205.140 210.842

023 and

part 029 3. Plant and Equipment 0013 16 9.754 15.151 7.279

024 and

part 029 4. Investment properties 0014 17 270.469 278.971 266.750

025 and

part 029 5. Other property, plant and equipment 0015

026 and

part 029 6. Property, plant and equipment in preparation 0016

027 and

part 029 7. Leasehold property, plant and equipment 0017

028 and

part 029 8. Advances for property , plant and equipment 0018

03 III. BIOLOGICAL RESOURCES

(0020 + 0021 + 0022 + 0023) 0019

030, 031

and part

039


032 and

part 039 2.Basic herd 0021

037 and

part 039 3.Biological assets in preparation 0022

038 and

part 039 4.Advances for biological agents 0023

04,

except

047

IV. LONG TERM INVESTMENTS

(0025+0026+0027+0028+0029+0030+0031+0032+0033) 0024 30.215 5.898 5.849

040 and

part 049 1.Shares in subsidiaries 0025 18 25.844 2.359 2.359

041 and

part 049

2. Shares in associated companies and

joint ventures 0026

042 and

part 049

3. Shares in other legal entities and other

securities available for sale 0027

part 043,

part 044

and part

049

4. Long-term investments parent company and subsidiaries faces 0028

part 043,

part 044

and part

049

5.Long-term placements with other related parties 0029

part 045

and part

049

6.Long-term investments in the country 0030

part 045

and part

049

7.Long-term investments abroad 0031

046 and

part 049 8.Securities held to maturity 0032

048 and

part 049 9. Other long-term investments 0033 19 4.371 3.539 3.490

05 V. LONG-TERM RECEIVABLES

(0035+0036+0037+0038+0039+0040+0041) 0034 20 4.266 19.325 28.040

050 and

part 059 1. Receivables from parent companies and subsidiaries 0035 17.817 23.250

051 and

part 059 2.Receivables from other related parties 0036

052 and

part 059 3. Receivables from the sale of the commodity loan 0037 4.266 4.508 4.790

053 and

part 059

4. Receivables for sale by contracts

financial leasing 0038

054 and

part 059 5.Claims based on the bail 0039

055 and

part 059 6.Disputed and doubtful receivables 0040

056 and

part 059 7.Other long-term receivables 0041

288 V. DEFERRED TAX ASSETS 0042 21 556 4.779 1.367

G. CURRENT ASSETS

(0044+0051+0059+0060+0061+0062+0068+0069+0070) 0043 144.048 131.243 142.656

Class 1 I. INVENTORIES

(0045+0046+0047+0048+0049+0050) 0044 22 22.709 40.294 45.848

10 1.Supplies , spare parts , tools and inventory 0045 16.254 31.522 34.652

11 2.Work in progress and unfinished services 0046 2.795 5.082


13 4. Goods 0048 856 856 856


15 6.Advances paid to suppliers 0050 5.599 5.121 5.258

20 II. RECEIVABLES FROM SALE

(0052+0053+0054+0055+0056+0057+0058) 0051 23 80.479 61.106 67.820

200 and

part 209 1.Domestic - parent and subsidiaries 0052 3.103 288

201 and

part 209 2.Buyers abroad - parent and subsidiaries 0053 11.261 14.328 15.003

202 and

part 209 3.Domestic - other related parties 0054

203 and

part 209 4. Buyers abroad - other related parties 0055

204 and

part 209 5. Domestic 0056 68.503 37.139 52.529

205 and

part 209 6.Buyers abroad 0057 715 6.536

206 and

part 209 7.Other receivables from sales 0058


22 IV. OTHER RECEIVABLES 0060 24 3.547 1.873 5.211

236 FINANCIAL RESOURCES TO BE MEASURED AT FAIR

VALUE THROUGH PROFIT OR LOSS 0061

23 except

236 and

237

VI. SHORT- TERM INVESTMENTS

(0063+0064+0065+0066+0067) 0062 100 175

230 and part 239

1. Short-term loans and investments - parent and

subsidiaries 0063

231 and part 239

2. Short-term credits and loans - stay connected

legal entities 0064

232 and part 239 3.Short-term loans and loans in the country 0065 100 175

233 and part 239 4.Short-term loans and loans abroad 0066

234, 235, 238 and part 239

5.Other short-term financial investments 0067

24 VII. CASH AND CASH EQUIVALENTS 0068 25 23.092 5.368 1.997

27 VIII. VALUE ADDED TAX 0069 1.041 359 358 28 except 288 IX. ACCRUED 0070 26 13.180 22.143 21.247

D. TOTAL OPERATING ASSETS=OPERATING ASSETS

(0001+0002+0042+0043) 0071 461.189 686.235 689.646

88 DJ. OFF-BALANCE SHEET ASSETS 0072

LIABILITIES

А. CAPITAL (0402+0411 - 0412+0413+0414+0415 - 0416+0417 +0420 - 0421) ≥ 0 = (0071 - 0424 - 0441 - 0442)

0401 265.718 269.175 248.994

30 1.SHARE CAPITAL (0403+0404+0405+0406+0407+0408+0409+0410)

0402 27 14.061 14.061 16.997


301 2.The shares of limited liability companies 0404 14.061 14.061 16.997

302 3.Shares 0405






31 II. SUBSCRIBED AND PAID-IN CAPITAL 0411

047 and


32 IV. RESERVES 0413 28 4.540 4.540 1.603

330

V. Revaluation reserves based on

Revaluation of intangible assets ,

PROPERTY, PLANT AND EQUIPMENT

0414

33 except 330

VI. UNREALIZED GAINS ON SECURITIES




0415

33 except 330

VII. UNREALIZED LOSSES ON SECURITIES




0416

34 VIII. RETAINED EARNINGS (0418+0419) 0417 29 264.562 250.574 230.394

340 1.Profit from previous years 0418 250.570 230.394 189.278

341 2.Profit for the current year 0419 13.992 20.180 41.116

IX. Non-controlling interests 0420

35 X. LOSS (0422+0423) 0421 17.445


351 2.Loss of current year 0423

B. LONG-TERM PROVISIONS AND LIABILITIES

(0425+0432) 0424 2.866 64.125 101.152

40 I. LONG-TERM PROVISIONS

(0426+0427+0428+0429+0430+0431) 0425





405 5.Provision for lawsuits 0430

402 and

409 6.Other long-term provisions 0431

41 II. LONG-TERM LIABILITIES

(0433+0434+0435+0436+0437+0438+0439+0440) 0432 30 2.866 64.125 101.152





414 5.Long-term loans and loans in the country 0437 57.597 101.152

415 6.Long-term loans and loans abroad 0438

416 7.Liabilities arising from finance lease 0439 2.866 6.528

419 8.Other long-term liabilities 0440


42 to 49 (except 498)

Г. SHORT-TERM LIABILITIES

(0443+0450+0451+0459+0460+0461+0462) 0442 192.605 352.935 339.500

42 I. CURRENT LIABILITIES

(0444+0445+0446+0447+0448+0449) 0443 31 16.033 96.300 87.935

420 1. Short-term loans from its parent and subsidiary

legal entities 0444

421 2. Short-term loans from other related parties 0445 9.231

422 3.Short-term credits and loans in the country 0446

423 4.Short-term borrowings abroad 0447

427 5. Liabilities on fixed assets and assets

discontinued operations held for sale 0448

424, 425, 426 and

429 6.Other current financial liabilities 0449 6.802 96.300 87.935

430 II. ADVANCES AND DEPOSITS 0450 32 27.609 48.581 48.870

43 except 430

III. BUSINESS DUTIES

(0452+0453+0454+0455+0456+0457+0458) 0451 32 58.159 62.183 61.770

431 1.Suppliers - parent and subsidiaries in the country 0452

432 2. Suppliers - parent and subsidiaries in abroad 0453 5.045 11.020 6.978

433 3.Suppliers - other related parties in the country 0454

434 4.Suppliers - Other related legal entities abroad 0455

435 5.Suppliers in the country 0456 34.819 39.478 43.455

436 6.Foreign suppliers 0457 18.295 11.685 11.337

439 7.Other operating liabilities 0458 44, 45 and 46

IV. OTHER CURRENT LIABILITIES 0459 33 77.031 140.653 134.094

47 V. LIABILITIES FOR ADDED TAX VALUE 0460 34 3.263 882 2.619

48 VI. Other taxes , contributions

AND OTHER DUTIES 0461 34 6.965 3.817 3.235

49 except 498 VII. ACCRUALS 0462 34 3.545 519 977

Д. LOSS ABOVE CAPITAL VALUE (0412+0416+0421 - 0420 - 0417 - 0415 - 0414 - 0413 - 0411 - 0402) ≥ 0 = (0441+0424+0442 - 0071) ≥ 0

0463

DJ. TOTAL LIABILITIES (0424+0442+0441+0401 - 0463) ≥ 0 0464 461.189 686.235 689.646



Name: KONSING GROUP DOO BELGRADE Registered office: NEW BELGRADE, Surcinski put St.1A

INCOME STATEMENTS for the period from 01.01. to 31.12.2017

- in thousands of RSD - Group

accounts,

account


number

Amount


1 2 3 4 5 6


60 to 65,

except

62

and 63

А. OPERATING INCOME (1002+1009+1016+1017) 1001 362.516

364.149


(1003+1004+1005+1006+1007+1008) 1002












(1010+1011+1012+1013+1014+1015) 1009 4 253.032

251.663




parent subsidiaries in foreign markets 1011 79.698

106.655

612 3. Income from sale of goods and services to other

related parties in the domestic market 1012




domestic market 1014

122.043

130.815

615 6. Income of finished products and services

foreign market 1015 51.291 14.193


Grants, donations, etc. 1016 - -


EXPENSES 1017 5 109.484 112.486

Operating expense

50 to 55,

62 and

63


(1019 - 1020 - 1021+1022+1023+1024+1025

+1026+1027+1028+1029) ≥ 0

1018 385.700 344.396


-

-


AND EFFECTS 1020 6 1.136 4.695




finished products and unfinished SERVICES 1022 2.795 2.287

51

except

513

V. COST OF MATERIALS 1023 7 21.578 30.426

513 VI. COST OF FUEL AND ENERGY 1024 7

18.659

18.060


AND OTHER PERSONNEL EXPENSES 1025 8 146.254 174.147

53 VIII. COSTS OF PRODUCTION 1026 9

162.998

88.006

540 IX. DEPRECIATION 1027 10

11.639

11.756

541 to

549 X. COSTS OF LONG-TERM PROVISIONS 1028

55 XI. IMMATERIAL COSTS 1029 11

22.913

24.409


19.753

g. OPERATING LOSS (1018 - 1001) ≥ 0 1031

23.184

-

66 D. FINANCE INCOME (1033+1038+1039)

1032

12 9.346 2.243

66,

except

662, 663

and 664



(1034+1035+1036+1037)

1033 984 440

660 1. Financial income from parent companies and

subsidiaries 1034 984 440


665 3. Income from participation in profit of associated



662 II. INTEREST INCOME (FROM THIRD PARTIES) 1038

56

103

663 and

664

III. FOREIGN EXCHANGE GAINS AND POSITIVE


(BY THIRD PARTIES)

1039 8.306 1.700

56 DJ. FINANCIAL EXPENSES (1041+1046+1047) 1040 13

12.082

17.811

56,

except

562, 563

and 564



EXPENSES (1042+1043+1044+1045)

1041 1.190


subsidiary legal entities 1042 1.190


legal entities 1043

565 3. Expenses from participation in loss of associated


566 and


562 II. INTEREST EXPENSES ( BY THIRD PARTIES) 1046 11.206

7.325

563 and

564

III. FOREIGN EXCHANGE GAINS AND

NEGATIVE EFFECTS OF CURRENCY CLAUSE

( BY THIRD PARTIES)

1047 3.567 6.605


-

-

Z. LOSS FROM FINANCING (1040 -1032) 1049

2.736

15.568

683 and

685



PROFIT OR LOSS

1050

583 and

585



PROFIT OR LOSS

1051

67 and

68,

except

683 and

685

Ј. OTHER INCOME 1052 14 65.542 22.033

57 and

58,

except

583 and

585

К. OTHER EXPENSES 1053 15 16.706 9.451


BEFORE TAX

(1030 - 1031+1048 - 1049+1050 - 1051+1052 - 1053)

1054 22.916 16.767


BEFORE TAX

(1031 - 1030+1049 - 1048+1051 - 1050+1053 - 1052)

1055

69-59

М. NET PROFIT FROM SUSPENDED , THE

EFFECTS OF CHANGES ACCOUNTING POLICIES

AND CORRECTION ERRORS OF PREVIOUS

PERIOD

1056

59-69

N. NET LOSS FROM SUSPENDED , EXPENSES

FOR CHANGES ACCOUNTING POLICIES AND


1057


(1054 - 1055+1056 - 1057) 1058 22.916 16.767

О. LOSS BEFORE TAX (1055 - 1054+1057 - 1056) 1059

P. INCOME TAXES

721 I. Income tax expense 1060

4.671

part 722 II. Deferred tax expense 1061

4.253


3.413


S. NET PROFIT (1058 - 1059 - 1060 - 1061 + 1062 -

1063) 1064 13.992

20.180

T. NET LOSS (1059 - 1058 + 1060 + 1061 -1062 +

1063) 1065



II. NET PROFIT DUE TO 1067

Majority owner




Majority owner 1069










Group

account

s,accou

nt

POSITION АОP

Note Amount


1 2 3 4 5 6


29

13.992 20.180






330





331


а) gains 2005

б) losses 2006

332


instruments

а) gains 2007

б) losses 2008

333



а) gains 2009

б) losses 2010

б) Items that can be subsequently reclassified into the income statement in future periods

334



а) gains 2011

б) losses 2012

Група

ПОЗИЦИЈА АОП

Напомена Износ

рачуна, рачун

број Текућа година Претходна година

1 2 3 4 5 6

335



а) gains 2013

б) losses 2014

336



а) gains 2015

б) losses 2016

337


а) gains 2017

б) losses 2018


(2003 + 2005 + 2007 + 2009 + 2011 + 2013 + 2015 + 2017) - (2004 + 2006 + 2008 + 2010 + 2012 + 2014 + 2016 + 2018) ≥ 0

2019

II. GROSS OTHER COMPREHENSIVE LOSS (2004 +

2006 + 2008 + 2010 + 2012 + 2014 + 2016 + 2018) - (2003 + 2005 + 2007 + 2009 + 2011 + 2013 + 2015 + 2017) ≥ 0

2020




2022

V. NET OTHER COMPREHENSIVE LOSS (2020 - 2019 + 2021) ≥ 0

2023


THE PERIOD

I. TOTAL NET COMPREHENSIVE INCOME (2001 - 2002 + 2022 - 2023) ≥ 0

2024

29

13.992 20.180

II. TOTAL NET COMPREHENSIVE LOSS (2002 - 2001 + 2023 - 2022) ≥ 0

2025


LOSS ( 2027 + 2028 ) = 2024 AOP ≥ 0 or AOP 2025 >

0

2026






CASH FLOW STATEMENT





1 2 3 4




2. Interest received from operating activities 3003 00

3. Other proceeds from operating activities 3004 1.921 5.375




3. interest paid 3008

4. Income tax 3009


III. Net cash inflow from operating activities (I-II) 3011 51.074

IV. Net cash outflow from operating activities (II-I) 3012 76.268

Б. CASH FLOWS FROM INVESTING ACTIVITIES 3013 262.198 1.111



2. Sale of intangible assets , property, plant , equipment and biological assets 3015 262.198 1.111




II. Cash outflows from investing activities ( 1 to 3) 3019 23.635 507

1. Purchase of shares ( net outflow) 3020 23.635


assets 3021 507



238.563 604

IV. Net cash outflow from investing activities ( I - II ) 3024










2. Long-term borrowings ( outflows ) 3033 136.145 37.713


4. Other liabilities ( outflows ) 3035 2.756 976







Ђ. NET CASH INFLOW (3040 - 3041) 3042 19.274 4.964

Е. NET CASH OUTFLOW (3041 - 3040) 3043

Ж. CASH AT BEGINNING OF PERIOD 3044 5.368 1.997


И. FOREIGN EXCHANGE LOSSES FROM TRANSLATION OF CASH 3046 1.550 1.593


3047 23.092 5.368




STATEMENT OF CHANGES IN EQUITY



No

DESCRIPTION


АОP

30

АОP

31

АОP

32



1 2 3 4 5

1.


01.01.2016.


4019

4037

b ) credit balance account 4002 16.997

4020

4038 1.603

2.


accounting policies


account 4003

4021

4039


4022

4040

3.




( 1a + 2a - 2b ) ≥ 0 4005

4023

4041


- 2a + 2b ) ≥ 0 4006

16.997 4024

4042 1.603

4.



account 4007

2.936 4025

4043


4026

4044 2.937

5.


31.12.2016.


4009

4027

4045


4010 14.061

4028

4046 1.603

6.



account 4011

4029

4047


4030

4048

7.


year as at 01.01.2016.


4013

4031

4049


4014 14.061

4032

4050 4.540

8.



4033

4051


4034

4052

9.


31.12 . 2016


( 7a + 8a - 8b ) ≥ 0 4017

4035

4053


( 7b - 8a + 8b ) ≥ 0 4018

14.061 4036

4054 4.540

No DESCRIPTION


AOP

35

AOP

047 и 237

AOP

34

Loss Treasury shares Profit

2 6 7 8

1.


01.01.2016 .


4073

4091


4074

4092 230.394

2.


accounting policies


account 4057

4075

4093


4076

4094

3.




( 1a + 2a - 2b ) ≥ 0 4059

4077

4095


- 2a + 2b ) ≥ 0 4060

4078

4096 230.394

4.



account 4061

4079

4097


4080

4098 20.180

5.


31.12.2016.


4063

4081

4099


4064

4082

4100 250.574

6.



account 4065

4083

4101


4084

4102

7.


year as at 01.01.2016.


4067

4085

4103


4068

4086

4104 250.574

8.



17.445 4087

4105 4


4088

4106 13.992

9.


31.12 . 2016


( 7a + 8a - 8b ) ≥ 0 4071

17.445 4089

4107


( 7b - 8a + 8b ) ≥ 0 4072

4090

4108 264.562

No DESCRIPTION


AOP

330

AOP

331

AOP

332

Revaluation reserves

Actuarial gains or losses

Gains or losses on investments in equity capital instruments

1 2 9 10 11

1.


01.01.2016 .


4127

4145


4128

4146

2.


accounting policies


account 4111

4129

4147


4130

4148

3.




( 1a + 2a - 2b ) ≥ 0 4113

4131

4149


- 2a + 2b ) ≥ 0 4114

4132

4150

4.



account 4115

4133

4151


4134

4152

5.


31.12.2016.


4117

4135

4153


4118

4136

4154

6.



account 4119

4137

4155


4138

4156

7.


year as at 01.01.2016.


4121

4139

4157


4122

4140

4158

8.



4141

4159


4142

4160

9.


31.12 . 2016


( 7a + 8a - 8b ) ≥ 0 4125

4143

4161


( 7b - 8a + 8b ) ≥ 0 4126

4144

4162

No

DESCRIPTION


AOP

333

AOP

334 и 335

AOP

336

Gains or losses from

equity interest in the rest

of the profit or loss of

associates

Gains or losses on

translation of

foreign operations

and the financial

statements

Gains or losses on

cash flow hedging

1 2 12 13 14

1.


as at 01.01.2016 .


4181

4199


4182

4200

2.


accounting policies


account 4165

4183

4201


4184

4202

3.




account ( 1a + 2a - 2b ) ≥ 0 4167

4185

4203

b ) adjusted credit balance accounts (

1b - 2a + 2b ) ≥ 0 4168

4186

4204

4.



account 4169

4187

4205


4188

4206

5.


year 31.12.2016.


4171

4189

4207


4172

4190

4208

6.



account 4173

4191

4209


4192

4210

7.




4175

4193

4211


4176

4194

4212

8.



4195

4213


4196

4214

9.


31.12 . 2016


( 7a + 8a - 8b ) ≥ 0 4179

4197

4215


( 7b - 8a + 8b ) ≥ 0 4180

4198

4216

No

DESCRIPTION

Components of other

comprehensive

AOP

Total capital [ Σ

(red 1b Aug 3 to

Aug 15 ) - Σ (red 1a

Aug 3 to Aug 15 ) ]

≥ 0

AOP

Losses in excess of

capital [ Σ (red 1a

Aug 3 to Aug 15 ) -

Σ (red 1b Aug 3 to

Aug 15 ) ] ≥ 0

AOP

337

Gains or losses on

securities available for

sale

1 2 15 16 17

1.

Opening balance of previous years as

at 01.01.2016 .


248.994

4244 b ) credit balance account 4218

2.


accounting policies


account 4219

4236

4245


3.




account ( 1a + 2a - 2b ) ≥ 0 4221

4237

248.994

4246 b ) adjusted credit balance accounts (

1b - 2a + 2b ) ≥ 0 4222

4.



account 4223

4238 20.180

4247


5.


year 31.12.2016.


4225

4239

269.175

4248 б) credit balance account

(3б - 4а + 4б) ≥ 0 4226

6.



account 4227

4240

4249


7.




4229

4241

269.175

4250 б) corrected credit balance account

(5б - 6а + 6б) ≥ 0 4230

8.



4242

3.457

4251


9.


31.12 . 2016


( 7a + 8a - 8b ) ≥ 0 4233

4243 265.718 4252


( 7b - 8a + 8b ) ≥ 0 4234

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