Faaliyet Raporu 2008

More documents

Recommendations

Info

VESTEL Annual Report 2008 76 Vestel Elektronik Sanayi ve Ticaret Anonim fiirketi Consolidated Cash Flow Statements for the Years Ended 31.12.2008 and 2007 (All amounts in thousands of Turkish Lira ("TL") unless indicated otherwise.) Note 2008 2007 Profit (loss) before taxation (407.211) 61.795 Adjustment to reconcile profit (loss) before taxation to net cash provided from operating activities: 25 312.756 270.741 Operating (loss) profit before changes in working capital (94.455) 332.536 Changes in operating assets and liabilities 25 188.029 153.969 Taxes paid (21.137) (34.683) Net cash provided by operating activities 72.437 451.822 Cash flows from investing activities Purchases of financial assets available-for-sale -- (3.892) Purchases of property, plant and equipment (120.304) (162.124) Purchases of intangible assets (80.903) (50.459) Proceeds from sale of property, plant and equipment 12.138 2.498 Net cash used in investing activities (189.069) (213.977) Cash flows from financing activities Changes in current borrowings 61.268 (296.249) Changes in non-current borrowings (18.517) 30.758 Interest received 37.799 37.284 Interest paid (68.218) (80.801) Dividends paid (14.095) (8.412) Net cash used in financing activities (1.763) (317.420) Translation differences (50.784) 7.021 Net decrease in cash and cash equivalents (169.179) (72.554) Cash and cash equivalents at beginning of year 512.130 584.684 Cash and cash equivalents at end of year 342.951 512.130 The accompanying notes are an integral part of these consolidated financial statements.
VESTEL Annual Report 2008 77 Vestel Elektronik Sanayi ve Ticaret Anonim fiirketi Notes to Consolidated Financial Statements for Year Ended 31 December 2008 (All amounts in thousands of Turkish Lira (“TL”) unless indicated otherwise.) 1. ORGANISATION AND NATURE OF ACTIVITIES Vestel Elektronik Sanayi ve Ticaret Anonim fiirketi (the “Company” or “Vestel Elektronik”) was founded in March 1983 under the name of Ferguson Elektronik Sanayi ve Ticaret A.fi. under the Turkish Commercial Code and was registered in ‹stanbul, Turkey. The name was changed to Star Elektronik Sanayi ve Ticaret A.fi. during the same year. In April 1984 Polly Peck Group acquired the Company and changed its name to Vestel Elektronik Sanayi ve Ticaret Anonim fiirketi which has been its current name. In 1990 18% of the Company’s shares were issued to the public at the Istanbul Stock Exchange. The Company has been operating under the Foreign Capital regulations in Turkey since July 1985. In 1991 Polly Peck Group transferred all of its shares to one of its subsidiaries named Collar Holding BV based in the Netherlands and in the same year, following the collapse of the Polly Peck Group, the Company was placed in administration. In November 1994 Ahmet Nazif Zorlu acquired the Company from the administrator of the Polly Peck Group by buying the entire share capital of Collar Holding BV which at the time held 82% of the Company’s issued share capital. The registered office address of the Company is located at Ambarl›, Petrol Ofisi Dolum Tesisleri Yolu, Zorlu Plaza, Avc›lar/Istanbul- Turkey For the purpose of the consolidated financial statements, the Company and its consolidated subsidiaries are referred to as the “Group”. Nature of Activities of the Group The Group is organized into three product divisions given below; A. Television production: Vestel Elektronik Sanayi ve Ticaret A.fi. The Company is mainly engaged in the production of colour televisions. The Company’s production facilities are located in Manisa industrial site (Aegean Region, Turkey). As of the balance sheet date, production capacity for colour televisions was 14.000.000 (2007: 19.000.000) units per year respectively. B. Refrigerator, air conditioning units, washing machines and cookers Vestel Beyaz Eflya Sanayi ve Ticaret A.fi. (“Vestel White”) Vestel White started working actively in 1999 and has been engaged in the production of refrigerators, room air conditioning units, washing machines and cookers. Vestel White’s production facilities are located in Manisa industrial site (Aegean Region, Turkey). As of the balance sheet date, production capacity for refrigerators, room air conditioning units, washing machines, cooker and dishwasher unit was 3.700.000, 600.000, 2.700.000, 1.250.000 and 500.000 (2007: 3.000.000, 700.000, 2.000.000, 1.500.000 and 500.000) units per year respectively. Vestel CIS During 2005, Vestel CIS commenced construction of white goods production facilities and started production by end of 2005. C. Digital Devices Vestel Komünikasyon Sanayi ve Ticaret A.fi. (“Vestel Kom”) Vestel Kom is engaged in the production of electronic devices. Vestel Kom’s production facilities are primarily located in ‹zmir Aegean free zone industrial site. Vestel Dijital Üretim Sanayi A.fi. (“Vestel Dijital”) Vestel Dijital is engaged in the production of electronic devices. Vestel Dijital’s production facilities are located in Manisa industrial site. As of the balance sheet date, production capacity for digital devices, computer and panel was 11.260.000 (2007: 5.260.140) units per year.
Page 1 and 2:
Ayr›nt›da gizli... Faaliyet Rap
Page 3 and 4:
Vestel fiirketler Grubu (Vestel), t
Page 5 and 6:
VESTEL Faaliyet Raporu 2008 03 Vest
Page 7 and 8:
VESTEL Faaliyet Raporu 2008 05 Bafl
Page 10 and 11:
VESTEL Faaliyet Raporu 2008 08 2008
Page 12 and 13:
VESTEL Faaliyet Raporu 2008 10 Zorl
Page 14 and 15:
Page 16 and 17:
VESTEL Faaliyet Raporu 2008 14 1994
Page 18:
TASARIM AYRINTIDA G‹ZL‹ Vestel
Page 21 and 22:
Page 23 and 24:
VESTEL Faaliyet Raporu 2008 21 Art
Page 25 and 26:
VESTEL Faaliyet Raporu 2008 23 1 Ah
Page 27 and 28: VESTEL Faaliyet Raporu 2008 25 Vest
Page 31 and 32: VESTEL Faaliyet Raporu 2008 29 1 Ö
Page 34 and 35: VESTEL Faaliyet Raporu 2008 32 Yön
Page 42: GELECEK AYRINTIDA G‹ZL‹ Vestel
Page 54 and 55: VESTEL Faaliyet Raporu 2008 52 Kuru
Page 56 and 57: VESTEL Faaliyet Raporu 2008 54 Kuru
Page 58 and 59: VESTEL Annual Report 2008 56 Vestel
Page 102 and 103: VESTEL Annual Report 2008 100 Veste
show all

Faaliyet Raporu 2008

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?