A N N U A L R E P O R T A N D A C C O U N T S - CMVM
A N N U A L R E P O R T A N D A C C O U N T S - CMVM
A N N U A L R E P O R T A N D A C C O U N T S - CMVM
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Notes to the Financial Statements as at 31 st December 2008<br />
Profit/(loss) carried forward:<br />
The amount recorded under transfers in the profit/(loss) carried forward item basically results from: (i) the payment of the financial shares<br />
amounting to EUR 16,186 thousand; and (ii) the application of deferred tax to the revaluation reserve created in the year ended 31 st December<br />
2008, amounting to EUR 470 thousand.<br />
Allocation of the profit for 2007<br />
In the General Meeting of Shareholders held on 14 th May 2008, the financial statements for the year ended 31 st December 2007 were approved,<br />
and the following allocation of profit was decided:<br />
Financial Year 2007<br />
Dividends 7,560<br />
Distribution to employees 4,800<br />
Legal reserve 3,000<br />
Free reserves 41,575<br />
56,935<br />
41 - COST OF MATERIALS CONSUMED<br />
The cost of materials consumed during the year ended 31 st December 2008 was determined as follows:<br />
Opening inventory 10,764<br />
Purchases 189,159<br />
Inventory regularisation 9<br />
Closing inventory (15,046)<br />
184,886<br />
42 - VARIATION IN PRODUCTION<br />
The variation in production reported during the year ended 31 st December 2008 was as follows:<br />
Finished goods and<br />
Work<br />
partly finished goods<br />
in progress<br />
Closing inventory 1,242 50,300<br />
Inventory regularisation 11 -<br />
Opening inventory (1,263) (21,288)<br />
Decrease / Increase in the financial year (10) 29,012<br />
43 - REMUNERATION OF THE MEMBERS OF THE GOVERNING BODIES<br />
The remunerations paid to the members of the Governing Bodies during the year ended 31 st December 2008 were, respectively:<br />
Fixed Variable Total<br />
Board of Directors<br />
Executive Members 1,100 879 1,979<br />
Non-executive Members 160 153 313<br />
Supervisory Board 33 - 33<br />
Statutory Auditor 66 - 66<br />
1,359 1,032 2,391<br />
164