Annual Report

Astarta Holding N.V.Consolidated financial statements as at and for the year ended 31 December 201130 SEGMENT REPORTINGAn operating segment is a group of assets and operations engaged in providing products or services thatare subject to risks and returns that are different from those of other operating segments.At 31 December 2011 and 2010, the group is organized into three main operating/ reportablesegments:production and wholesale distribution of sugargrowing and selling grain and oilseeds crops (agriculture), anddairy cattle farming.Other group operations mainly comprise the production and sales of canned goods, fodder and gas.Neither of these constitutes a separately reportable segment.Operating segments are reported in a manner consistent with the internal reporting provided to the chiefoperating decision-maker. The chief operating decision-maker that makes strategic decisions is themanagement board.Revenues from external customers are derived primarily from the sales of sugar, crops and cattlefarming products and are measured in a manner consistent with that in the income statement. Transferprices between operating segments are on arm's length basis in a manner similar to transactions withthird parties.In the year ended 31 December 2011 there were no revenues from transactions with a single externalcustomer in the amount of 10% or more of Group’s revenue. In the year ended 31 December 2010sales to major customer comprising more than 10% of Group’s revenue amounted to UAH 367,516thousand or EUR 34,622 thousand and were attributable to the sugar production segment.The amounts provided to the Board of Directors with respect of total assets are measured in a mannerconsistent with that of the financial statements. These assets are allocated based on the operations ofthe segment and the physical location of the asset. Investments classified as available-for-sale financialassets are not considered to be segment assets. The amounts of total liabilities are measured in amanner consistent with that of the financial statements. Liabilities are allocated based on theoperations of the segment.All unallocated items relate to overall Group’s operational activity and may not be allocated to theidentified reporting segments.127