Annual Report 2009 - Isagen

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ANNUAL REPORT 2009 / ISAGEN S.A. E.S.P.90BALANCE SHEETS AT DECEMBER 31, 2009 AND 2008(In millions of Colombian Pesos)ASSETS NOTES 2009 2008CURRENT ASSETSCASH 7 499,210 291,408INVESTMENTS, NET 8 406,636 61,203ACCOUNTS RECEIVABLE, NET 9 263,112 270,155INVENTORIES, NET 10 23,842 15,938PREPAID EXPENSES 12 12,998 30,580OTHER ASSETS 14 12,111 7,924TOTAL CURRENT ASSETS 1.217,909 677,208NON-CURRENT ASSETSACCOUNTS RECEIVABLE, NET 9 91,837 81,468INVESTMENTS, NET 8 399 396PROPERTY, PLANT AND EQUIPMENT NET 11 2.519,584 2.353,398DEFERRED ASSETS 13 50,600 9,434OTHER ASSETS 14 34,118 29,222RE-APPRAISALS 15 1.035,410 1.037,219TOTAL NON-CURRENT ASSETS 3.731,948 3.511,737TOTAL ASSETS 4.949,857 4.188,345MEMORANDUM ACCOUNTS 30Debit 581.096 713.884Credit 7.117.175 4.906.925Luis Fernando Rico Pinzón Elvia Luz Restrepo Saldarriaga Jorge Enrique Múnera DurangoChief Executive Officer Chief Accounting Officer T.P. 37982-T Statutory Auditor T.P. 25295-T(See attached certification) (See attached certification) Designated by Deloitte & Touche Ltda.(See attached report)LIABILITIES AND EQUITY NOTES 2009 2008CURRENT LIABILITIESFINANCING OPERATIONS 16 22,957 22,958ACCOUNTS PAYABLE 17 189,110 168,236TAXES, IMPOSTS AND DUTIES 18 74,626 45,626LABOR LIABILITIES 19 21,154 16,000OTHER LIABILITIES 20 40,494 13,574TOTAL CURRENT LIABILITIES 348,341 266,394NON-CURRENT LIABILITIESFINANCING OPERATIONS 16 942,497 515,452LABOR LIABILITIES 19 56,113 52,747DEFERRED TAXES 18 252,609 220,010OTHER LIABILITIES 20 4,434 1,251TOTAL NON-CURRENT LIABILITIES 1.255,653 789,460TOTAL LIABILITIES 1.603,994 1.055,854EQUITYCAPITAL STOCK 21 68,152 68,152CAPITAL SURPLUS 49,344 49,344RESERVES 22 570,065 458,854YEAR INCOME 385,751 260,321REVALUATION SURPLUS 15 1.035,410 1.037,219EQUITY REVALUATION 23 1.256,540 1.278,000EFFECT OF PGCP CHANGES24 (19,399) (19,399)TOTAL EQUITY 3.345,863 3.132,491TOTAL LIABILITIES AND EQUITY 4.949,857 4.188,345MEMORANDUM ACCOUNTS 30Credit 7.117,175 4.906,925Debit 581,096 713,884The accompanying notes are an integral part of these financial statements.Contents Letter from the CEO Achievements2009Good GovernancePractices EvaluationCorporateManagementFinancial Management
ANNUAL REPORT 2009 / ISAGEN S.A. E.S.P.91INCOMESTATEMENTSfor the years ended december 31,2009 and 2008(In millions of Colombian Pesos)NOTES 2009 2008OPERATING REVENUES 25 1.410,552 1.231,700COST OF SALES AND SERVICE DELIVERY 26 805,946 770,621GROSS INCOME 604,606 461,079ADMINISTRATION EXPENSES 27 85,568 73,191OPERATING INCOME 519,038 387,888NON-OPERATING REVENUESINTEREST 39,147 33,504PORTFOLIO YIELDS 10,023 4,944EXCHANGE DIFFERENCE 50,848 52,273MISCELLANEOUS 28 29,888 18,832129,906 109,553NON-OPERATING EXPENSESINTEREST 44,986 63,349EXCHANGE DIFFERENCE 54,360 53,173MISCELLANEOUS 29 24,989 17,206124,335 133,728INCOME BEFORE TAXES 524,609 363,713INCOME TAX PROVISION 18CURRENT 104,578 69,457DEFERRED 34,280 33,935138,858 103,392NET INCOME 385,751 260,321NET INCOME PER SHARE (*) 142 95(*) In Colombian PesosThe accompanying notes are an integral part of these financial statements.Luis Fernando Rico Pinzón Elvia Luz Restrepo Saldarriaga Jorge Enrique Múnera DurangoChief Executive Officer Chief Accounting Officer T.P. 37982-T Statutory Auditor T.P. 25295-T(See attached certification) (See attached certification) Designated by Deloitte & Touche Ltda.(See attached report)Contents Letter from the CEO Achievements2009Good GovernancePractices EvaluationCorporateManagementFinancial Management
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