The Group KD Group and KD Group dd

The Group KD Group Annual Report 2009
Consolidated Financial Statements as at and for the year ended 31 December 2009
Consolidated income statement
(in EUR) Note 2009 2008
Gross premium 342,116,815 332,537,765
Premiums ceded to reinsurers (11,986,438) (11,255,070)
Net premiums 22 330,130,377 321,282,695
Fees and commissions income 22 10,849,086 14,410,812
Investment income 24 16,569,959 22,694,921
Net gains on available-for-sale financial assets 25 4,421,911 9,997,641
Impairment of available-for-sale financial assets 25 (2,926,357) (24,846,254)
Net gains / (losses) on assets at fair value through profit or loss 26 27,354,774 (101,432,513)
Net gains / (losses) – derivative financial instruments 26 (322,132) 6,319,371
Net finance income 55,947,241 (72,856,022)
Sales of goods and services 22 11,621,037 23,623,244
Other operating income 22 15,268,189 32,302,659
Other income 26,889,226 55,925,903
Gross benefits and claims paid 23 (283,528,827) (169,014,533)
Claims ceded to reinsurers 23 12,053,097 12,172,911
Net insurance contracts benefits and claims (271,475,730) (156,841,622)
Costs of services (68,689,724) (75,690,259)
Labour costs 23 (57,576,822) (64,405,668)
Other expenses 23 (33,657,053) (57,274,415)
Other expenses 23 (159.923.599) (197,370,342)
Operating profit 27 (18,432,485) (49,859,388)
Finance costs 28 (9,563,914) (8,023,466)
Share of profit of associates 10 (23,426,946) (27,407,028)
(32,990,860) (35,430,494)
Profit before tax (51,423,345) (85,289,882)
Income tax expense 29 7,199,907 8,285,899
Net profit or loss for the year (44,223,438) (77,003,983)
Attributable to:
Equity holders of the parent (43,887,570) (77,217,976)
Minority interests (335,868) 213,993
(44,223,438) (77,003,983)
Earnings per share for profit attributable to the equity holders
of the Company during the year (expressed in EUR per share)
- basic and diluted 30 (16,93) (29.41)
The notes are an integral part of these consolidated financial statements.
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