English version - Hexagon Composites ASA

More documents

Recommendations

Info

COMROD COMMUNICATION <strong>ASA</strong> – LISTING ON THE OSLO STOCK EXCHANGE including losses carried forward is recognized in the balance. Changes in temporary differences are recognized in the income statement. The following table shows the effects of the transitions from FGAAP (French Generally Accepted Accounting Principles) to IFRS for Fidulerc SA and Lerc SA for the income statement for the period ended 30.09.2006. The most important effects of the transition are described below. Please refer to the corresponding notes. (in 1000) 2006 2006 2006 2006 2006 01.01.-30.09. 01.01.-30.09. 01.01.-30.09. 01.01.-30.09. 01.01.-30.09. Notes FIDULERC SA FGAAP LERC SA FGAAP IFRS adjustments Fidulerc/Lerc IFRS EUR Fidulerc/Lerc IFRS NOK Operating revenues 0 8 093 0 8 093 64 529 Operating expenses Cost of materials 3 018 0 3 018 24 065 Payroll and social security expenses 5 1 290 6 1 296 10 336 Depreciation 6 317 -50 266 2 125 Other operating expenses 7 0 3 077 18 3 096 24 682 Total operating expenses 0 7 702 -26 7 676 61 208 Operating profit/loss 0 391 26 417 3 321 Financial income/expenses Interest received 0 11 0 11 88 Other financial income 0 13 0 13 103 Other interest paid 0 -79 0 -79 -629 Other financial expenses -43 0 -43 -340 Net financial income/expenses 0 -98 0 -98 -779 Profit before tax 0 293 26 319 2 542 Taxes 8 0 23 76 99 791 Profit for the year 0 270 -51 219 1 751 IFRS adjustment comments: 5. “Payroll and social security expenses”: TEUR 6 is increase in employee benefits liability that has been recognized in the period according to IFRS. According to French accounting standards, provision for the employee benefits liability is not compulsory and has not been recognized by Lerc. Under IFRS a provision is mandatory and the change in liability is recognized as a payroll expense. 6. “Depreciation”: TEUR – 50 is reversal of additional depreciation made for tax purposes. French accounting standards permit this additional depreciation in the income statement. Under IFRS this additional depreciation is not recognized. 7. “Other operating expenses”: TEUR 18 is government grants related to fixed asset which is added back to the income statement. Under IFRS these grants is accounted for as a reduction of cost of fixed assets. 153
COMROD COMMUNICATION <strong>ASA</strong> – LISTING ON THE OSLO STOCK EXCHANGE 8. “Tax”: TEUR 76. Income tax for the period (33.33%) is calculated to TEUR 68. Tax related to adjustment 5 - 7 above amount to 9. The tax recognized in the FGAAP statement is a standard tax applied whether the company has taxable income or not. Under IFRS temporary differences, including losses carried forward is recognized in the balance. Changes in temporary differences is recognized in and changes in the income statement. 154
Page 1 and 2:
Prospectus COMROD Comrod Communicat
Page 3 and 4:
COMROD COMMUNICATION ASA - LISTING
Page 5 and 6:
Page 7 and 8:
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
Page 47 and 48:
Page 49 and 50:
Page 51 and 52:
Page 53 and 54:
Page 55 and 56:
Page 57 and 58:
Page 59 and 60:
Page 61 and 62:
Page 63 and 64:
Page 65 and 66:
Page 67 and 68:
Page 69 and 70:
Page 71 and 72:
Page 73 and 74:
Page 75 and 76:
Page 77 and 78:
Page 79 and 80:
Page 81 and 82:
Page 83 and 84:
Page 85 and 86:
Page 87 and 88:
Page 89 and 90:
Page 91 and 92:
Page 93 and 94:
Page 95 and 96:
Page 97 and 98:
Page 99 and 100:
Page 101 and 102:
Page 103 and 104: COMROD COMMUNICATION ASA - LISTING
Page 153: COMROD COMMUNICATION ASA - LISTING
show all

English version - Hexagon Composites ASA

Create successful ePaper yourself

Delete template?

Save as template?