English version - Hexagon Composites ASA

COMROD COMMUNICATION ASA – LISTING ON THE OSLO STOCK EXCHANGE
Comrod AS - Notes to the interim financial statements 3. Quarter 2006
Note 5 Transition from NGAAP to IFRS continued
(in NOK 1000)
2005
01.01-30.09
2005
01.01-30.09
2005
01.01-30.09
Notes NGAAP IFRS adj. IFRS
Operating revenues 77 523 0 77 523
Change in Work In Progress -785 0 -785
Cost of materials 22 313 0 22 313
Payroll and social security expenses 8 27 302 72 27 374
Depreciation 1 950 0 1 950
Other operating expenses 9 493 0 9 493
Total operating expenses 60 273 72 60 345
Operating profit/loss 17 250 -72 17 178
Interest received 2 0 2
Other financial income 2 1 594 -1 456 138
Other interest paid -861 0 -861
Other financial expenses -489 0 -489
Net financial income/expenses 246 -1 456 -1 210
Profit before tax 17 496 -1 529 15 967
Taxes 5 4 899 -408 4 491
Profit for the year 12 597 -1 121 11 476
(in NOK 1000)
2005
01.01-31.12
2005
01.01-31.12
2005
01.01-31.12
Notes NGAAP IFRS adj. IFRS
Operating revenues 109 559 0 109 559
Change in Work In Progress 1 650 1 650
Cost of materials 28 918 0 28 918
Payroll and social security expenses 8 38 010 122 38 132
Depreciation 2 522 0 2 522
Other operating expenses 13 995 0 13 995
Total operating expenses 85 095 122 85 217
Operating profit/loss 24 464 -122 24 342
Interest received 136 0 136
Other financial income 2 982 0 2 982
Other interest paid -1286 0 -1 286
Other financial expenses -460 0 -460
Net financial income/expenses 1 372 0 1 372
Profit before tax 25 836 -122 25 714
Taxes 7296 0 7 296
Profit for the year 18 540 -122 18 418
Comrod AS - Notes to the interim financial statements 3. Quarter 2006
Note 5 Transition from NGAAP to IFRS continued
(in NOK 1000)
2006
01.01-30.09
2006
01.01-30.09
2006
01.01-30.09
Notes NGAAP IFRS adj. IFRS
Operating revenues 83 676 0 83 676
Change in Work In Progress -1 309 0 -1 309
Cost of materials 28 854 0 28 854
Payroll and social security expenses 31 200 0 31 200
Depreciation 6 4 381 -525 3 856
Other operating expenses 12 611 0 12 611
Total operating expenses 75 737 -525 75 212
Operating profit/loss 7 939 525 8 464
Interest received 223 0 223
Other financial income 1 1
Other interest paid -3 578 0 -3 578
Other financial expenses -1 035 0 -1 035
Net financial income/expenses -4 389 0 -4 389
Profit before tax 3 550 525 4 075
Taxes 5 1 202 147 1 349
Profit for the year 2 348 378 2 726
Equity, NGAAP versus IFRS
(in NOK 1 000) NGAAP IFRS
Equity at 31.12.03 NGAAP 9 037 9 037
Effects on transition from NGAAP to IFRS on other equity:
Forward exchange contracts 3 845
Increase in pension liability -2 039
Reversed provision for group contribution 31.12.2003 7 072
Equity at 01.01.04 9 037 17 915
Effects on transition from NGAAP to IFRS :
Profit 2004 according to NGAAP/IFRS 18 066 18 055
Provision for group contribution 31.12.2004 -18 084
Approved group contribution 31.12.2003 -7 072
Actuarial gains and losses -104
Share based payment 28
Forward exchange contracts 202
Equity at 31.12.04 9 019 29 024
Profit 2005 according to NGAAP/IFRS 18 540 18 418
Change of accounting principles 1.1.2005 1 921
Provision for group contribution 31.12.2004 -18 264
Received group contribtion 31.12.2004 2 500
Share based payment 122
Actuarial gains and losses 169 169
Forward exchange contracts -3 071 -3 071
Approved group contribution 31.12.2004 -18 084
Equity at 31.12.05 10 815 26 579
Profit as of 30.09.06 according to NGAAP/IFRS 2 348 2 726
Forward exchange contracts -965 -965
Share based payment 146 146
Actuarial gains and losses -1 088 -1 088
Exchange rate difference 1 802 1 802
Exchange rate difference Net investment -1 281 -1 281
Approved group contribution 31.12.2005 -18 264
Received group contribtion 31.12.2005 2 500
Equity at 30.09.06 11 777 12 155
119