English version - Hexagon Composites ASA

COMROD COMMUNICATION ASA – LISTING ON THE OSLO STOCK EXCHANGE
2. “Other interest paid”: The purchase of Fidulerc SA on 11.4 MEUR was 100 % financed by an
inter company loan from Hexagon Composites ASA. Interest is 6,32% according to long term
bond loan in Hexagon Composites ASA related to the acquisition.
3. “Taxes”: All the adjustments have a calculated 28% tax expense for adjustments subject to
Norwegian tax rules and 33,3% for adjustments subject to French tax rules.
All of the adjustments listed above will also apply for and impact the financial statements going
forward. See Appendix 9 for information about the IFRS adjustments for Lerc and Fidulerc.
7.4.3 Pro forma income statement for the period ended 30 September 2006
The following table shows the pro forma figures and related adjustments that have been made to the
income information data for the period ended 30 September 2006. The pro forma income information
is prepared as if the acquisition was effected 1 January 2006.
(in NOK 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.
Comrod
Communication
ASA Comrod AS Lerc/Fidulerc
Proforma
adjustments
Note 4-6
IFRS
Proforma
Operating revenues 0 73 283 64 529 0 137 812
Operating expenses
0 0 0
Cost of materials 22 525 24 065 0 46 590
Payroll and social security expenses 29 674 10 336 0 40 010
Depreciation 3 285 2 125 2 581 7 991
Other operating expenses 9 660 24 682 0 34 342
Total operating expenses 0 65 144 61 208 2 581 128 933
Operating profit/loss 0 8 139 3 321 -2 581 8 878
Financial income/expenses
Interest received 223 88 0 311
Other financial income 0 103 0 103
Interest paid to Hexagon-group -3 551 0 0 -3 551
Other interest paid 0 -629 -3 825 -4 454
Other financial expenses -1 015 -340 -1 355
Net financial income/expenses 0 -4 343 -779 -3 825 -8 946
Profit before tax 0 3 796 2 542 -6 406 -68
Taxes 0 1 063 791 -1 363 491
Profit for the year 0 2 733 1 751 -5 043 -558
Pro forma adjustment comments:
4. “Depreciation”: TNOK 2,581 is 9 month estimated depreciation of surplus values allocated to
customer relationship, property plant and equipment and machinery and equipment, according to
purchase price allocation.
5. “Other interest paid”: The purchase of Fidulerc SA on 11.4 MEUR was 100 % financed by an
inter company loan from Hexagon Composites ASA. Interest is 6.32% according to long term
bond loan in Hexagon Composites ASA related to the acquisition.
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