Annual Report

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Astarta Holding N.V.Astarta Holding N.V. Consolidated financial statements as at and for the year ended 31 December 2011Revenue earned and losses incurred by the major companies acquired are as follows:(in thousands of Ukrainian hryvnias)NikaZhytnytsyaPodillyaZoryaKhorolskiycombinedforagefactorynamed afterVatutinNovoivanivskiysugar plantTotalRevenue 25,878 17,165 16,889 20,696 6,907 21,702 109,237Net profit (loss) 19,228 9,984 8,244 367 (11,845) (4,246) 21,732(in thousands of Euros)NikaZhytnytsyaPodillyaZoryaKhorolskiycombinedforagefactorynamed afterVatutinNovoivanivskiysugar plantTotalRevenue 2,329 1,545 1,520 1,862 622 1,953 9,831Net profit (loss) 1,730 898 742 33 (1,066) (382) 1,955Fair value of the acquired receivables equals to the gross contractual amounts receivable. None of thereceivables have been impaired and it is expected that the full contractual amounts can be collected. Noncontrollinginterest is measured as the non-controlling interests' proportionate share of the acquiree'sidentifiable net assets.The acquisition of the companies had the following effect on assets and liabilities, which are stated at theirfair values, as at the date they were acquired:91
Astarta Holding N.V.Astarta Holding N.V. Consolidated financial statements as at and for the year ended 31 December 2011Recognised fair value at acquisition(in thousands of Ukrainian hryvnias) Tarasivske NikaZhytnytsyaPodillyaValmerZdobutokChervonaZirkaNivaUkraineLan-InvestOriyZoryaNon-current assetsProperty, plant and equipment 2,874 33 1,368 - 9,410 7,148 2,326 4,877 493 2,417 13,260Construction in progress - - - - 1,569 - 252 - - - 152Non-current biological assets 2,378 - 75 - 329 3 6 72 - - 3,515Intangible assets 1,765 1,266 1,500 2,297 3,558 674 1,905 - 2,280 - 9,572Current assetsInventories 1,590 2,201 3,005 - 3,992 243 678 194 45 135 3,500Current biological assets 6,261 - 4,875 1,509 2,733 902 1,782 - 433 1,095 15,932Trade accounts receivable 130 - 154 - 86 10 549 2 - - 585Other accounts receivable and prepayments 34 1,653 4,880 364 158 30 12 1,821 1 - 1,281Cash and cash equivalents 53 5 486 - 10,682 9 716 - 2 - 157Non-current liabilitiesNon-controlling interest (270) - (452) (1) (6) (2) (2) (75) (1) (1) (315)Long-term loans and borrowings - - - - - - - - - - -Deffered tax liabilities - - - - - - - - - - -Other long-term liabilities (1,374) - (454) - - (3) (305) (573) (140) - (1,854)Current liabilitiesShort-term loans and borrowings - - - - - - - - - - -Trade accounts payable (177) (7) (1,636) - (1) (312) (98) - - (166) (8,722)Other liabilities and accounts payable (143) (4,318) (12,446) (937) (2,251) (20) (245) (381) - - (1,223)Net identifiable assets, liabilities and contingentliabilities 13,121 833 1,355 3,232 30,259 8,682 7,576 5,937 3,113 3,480 35,840Non-controlling interest - - - - - - - - - - -Excess of net assets acquired over considerationpaid 10,946 - 740 - 10,701 644 5,676 5,897 721 3,080 24,091Goodwill on acquisition - (141) - (2,100) - - - - - - -Consideration paid (2,175) (974) (615) (5,332) (19,558) (8,038) (1,900) (40) (2,392) (400) (11,749)Cash acquired 53 5 486 - 10,682 9 716 - 2 - 157Net cash outflow (2,122) (969) (129) (5,332) (8,876) (8,029) (1,184) (40) (2,390) (400) (11,592)92
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Viktor Ivanchyk, ASTARTA Holding N.
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