Annual Report 2010 - Savatech

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ANNUAL REPORT 2010 ∂ FINANCIAL REPORTOther short-term financial liabilities in the amount of€31,152 thousand represented a liability from increasein capital with an investment in kind on the part ofSava d.d. until its entry in the register of companies(note 2.5.3.).Short-term operating liabilitiesShort-term operating liabilities in the amount of€12,689 thousand represented:• Trade payables within the Group totalling €574thousand.• Trade payables out of the Group totalling €8,615thousand.• Liabilities arising from advances totalling €236thousand.• Other liabilities totalling €3,264 thousand.2.7% out of total trade payables out of the Grouphave matured already.Other short-term operating liabilities mostlyrepresented liabilities to the state, liabilities for salariesand wages, and various liabilities. Other short-termoperating liabilities have not matured yet.2.4.12SHORT-TERM ACCRUED COSTS ANDDEFERRED REVENUESShort-term accrued costs and deferred revenuesinclude accrued costs arising from contracts.2.4.13ESTIMATING FAIR VALUESInterest-bearing loans and borrowingsThe fair value is estimated as a discounted valueof expected cash flows from the principal and theinterest, whereby the effective interest rate equals thecontracting interest rate, which is variable.Short-term receivables and liabilitiesFor receivables and liabilities with a remaining life ofless than one year, the notional value is deemed toreflect the fair value.Fair values of financial instruments€ in thousands31/12/2010 31/12/2009Book value Fair value Book value Fair valueSecurities available for sale 0 0 0 0Long-term receivables 0 0 0 0Short-term receivables 17,832 17,832 17,320 17,320Approved loans 12,756 12,756 11,302 11,302Cash and cash equivalents 4,722 4,722 2,549 2,549Long-term loans 0 0 0 0Issued bonds 0 0 0 0Short-term loans 47,852 47,852 11,780 11,780Short-term operating liabilities 12,689 12,689 9,876 9,8762.4.14NET SALES REVENUESTable of net sales revenues€ in thousands2010 2009Net sales revenues from products 90,346 69,589Net sales revenues from services 1,208 1,476Net sales revenues from rents 0 0Net sales revenues from merchandise 2,608 2,121Total net sales revenues 94,162 73,18668
ANNUAL REPORT 2010 ∂ FINANCIAL REPORT2.4.15OTHER OPERATING REVENUES(WITH OPERATING REVENUESFROM REVALUATION)Other operating revenues in the amount of€114 thousand included using of provisionsfor fixed assets in the amount of €5 thousand,revenues from subsidies in the amount of €54thousand, revenues from the sale of fixed assetsin the amount of €39 thousand, and a reversal ofrevaluation in trade receivables in the amount of€16 thousand.2.4.16COSTS BY FUNCTIONAL GROUPTable of costs by functional group€ in thousands2010 2009Manufacturing costs of sold products 78,675 64,988Selling costs 6,586 6,668Overhead costs 5,291 4,640TOTAL 90,552 76,2962.4.17COSTS OF GOODS, MATERIALSAND SERVICESTable of costs of goods, materials and services by type€ in thousands2010 2009Cost of merchandise 5,923 4,438Cost of materials 47,277 34,037Cost of transportation services 2,496 2,287Cost of maintenance services 1,408 2,592Cost of rentals 3,251 3,002Cost refunds to employees 334 399Cost of payment transactions, bank services and insurance premiums 513 392Cost of intellectual and personal services 659 523Cost of fairs, advertising and office allowances 553 354Cost of other services 4,463 3,445TOTAL 66,877 51,46969
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Annual Report 2010
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ANNUAL REPORT 2010 ∂ INTRODUCTION
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Annual Report 2010 - Savatech

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