ANNUAL REPORT 06 - Bosnalijek dd

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Bosnalijek d.d.Statement of cash flows for the year ended 31 December 2006(All amounts are expressed in thousands of KM)Operating activitiesNet profit for the yearAdjustments for:Depreciation and amortizationLoss on disposal of property, plant and equipmentAdjustment of property, plant and equipmentWrite-off of raw materials and finished goodsIncrease in allowance for bad and doubtful trade receivablesDecrease in retirement benefitsIncrease in deferred incomeIncrease in deferred tax liabilitiesAdjustment for IFC convertible loan costDepreciation for donated equipmentAdjustment for cash flow form investing and financing activitiesCash flow before changes in operating assets and liabilities:Increase in non-current receivablesIncrease in inventoriesIncrease in trade receivables(Increase) decrease in other receivables(Decrease) increase in trade payables(Decrease) increase in other payablesCash flow from operating activitiesInterest paidIncome tax paidNet cash from operating activitiesInvesting activitiesPurchase of property, plant and equipmentPurchase of intangible assetsProceeds from disposal of property, plant and equipmentInterest receivedNet cash used in investing activitiesFinancing activities(Decrease) increase in obligations under finance leasesProceeds from long-term loans, net of repayments(Repayment of ) proceeds from short-term loansNet cash provided by financing activitiesNet increase in cash and cash equivalentsCash and cash equivalents at the beginning of the yearCash and cash equivalents at the end of the year2006.7.8379.0185142-178(40)21641.679(48)2.34421.227(345)(1.883)(5.290)(423)(1.816)(47)11.423(2.351)(699)8.373(6.613)(1.669)657(8.210)(9)2.268(1.883)3765391.6942.2332005.(RESTATED)7.6518.708349-2.178345(9)21-1.405(58)1.42322.013(361)(408)(1.390)77011.3918432.099(1.431)-30.668(43.752)(1.806)5888(44.962)716.8588.13515.0647709241.694The accompanying notes form an integral part of these financial statements.56 ANNUAL REPORT 06 INDEPENDENT AUDITOR’S REPORT
Bosnalijek d.d.Notes to financial statements for the year ended 31 December 2006(All amounts are expressed in thousands of KM)1. GENERAL2. CORRECTION OF AN ERRORBosnalijek d.d. (the "Company") is a joint-stock company incorporated inthe Federation of Bosnia and Herzegovina with the registered addressJukićeva 53, 71 000 Sarajevo. The Company is primarily engaged in theproduction and wholesale trade of pharmaceuticals, veterinary medicineproducts, disinfectants and similar products.As of 31 December 2006, the Company employed 581 employees (2005,536 employees).The Company has restated the financial statements for the years ended 31December 2005 and 2004 in order to correct an error related to therecognition of the provisions for the long- and short-term employeebenefits as required by International Accounting Standard 19 – Employeebenefits and recognition of the accruals for employee bonuses as requiredby the Framework for the Preparation and Presentation of FinancialStatements, Underlying assumptions - Accrual basis. Previously, theManagementSupervisory BoardHasan Muratović Ph DLjunora MavrićAbdul-Umid ŠalakaMidhad VehabovićRifat KlopićManagementEdin ArslanagićAkif MujezinLjiljana KamberovićŠefik HandžićAudit CommitteeSead SarvanIbrahim ImamovićRabija AvduliChairmanMemberMemberMemberMemberDirectorExecutive director for production managementExecutive director for operations developmentExecutive director for finance and economyChairmanMemberMemberCompany recorded the costs of retirement severance payments andemployee bonuses when they became due and were paid to the employees.As a result of the above, as at 31 December 2005 and 2004, retainedearnings have decreased by KM 1,295 thousand and KM 1,243 thousandrespectively. In addition, as at 31 December 2005 and 2004, provisions forretirement benefits have increased by KM 510 thousand and KM 519thousand, and accruals for employee bonuses have decreased by KM 39thousand and increased by KM 724 thousand, respectively, whereas netresult for the year ended 31 December 2005 has increased by KM 48thousand.serving Your health INDEPENDENT AUDITOR’S REPORT ANNUAL REPORT 06 57
Page 1: ANNUAL REPORT 06
Page 5 and 6: “It is my pleasure to mention the
Page 7 and 8: BASIC FINANCIAL INDICATORS 2006Bosn
Page 9 and 10: INFORMATION FOR INVESTORSIn end of
Page 11 and 12: PRINCIPLES OF THE CORPORATE MANAGEM
Page 13 and 14: MVSMISSION VISION STRATEGYBjelašni
Page 15 and 16: Supervisory Board of Bosnalijek d.d
Page 17 and 18: STRUCTURE OF MARKET 2006.80% DOMEST
Page 19 and 20: 14% J-ANTIINFECTIVES2% M-MUSCULO-SK
Page 21 and 22: O ur own programmes take par t in t
Page 23 and 24: INTERNATIONAL MARKETSSale at intern
Page 25 and 26: 1% SLOVENIA16% CROATIA31% KOSOVO4%
Page 27 and 28: 51% LIBIYA24% KUWAIT19% QATAR6% YEM
Page 29 and 30: As a part of new Bosnalijek Product
Page 31 and 32: Registrations in Bosnia and Herzego
Page 33 and 34: Responsibility towards environmentA
Page 35 and 36: ENVIRONMENT GUIDELINES OFBOSNALIJEK
Page 37 and 38: HUMAN RESOURCESBiggest value of Bos
Page 39 and 40: SOCIAL RESPONSIBILITYThrough managi
Page 41 and 42: We are proud of our SOS family in
Page 43 and 44: REPORT OF AUDITING BOARD FOR YEAR 2
Page 45 and 46: RESPONSIBILITY FOR THE FINANCIAL ST
Page 47 and 48: Bosnalijek d.d.Statement of income
Page 49: Bosnalijek d.d.Statement of changes
Page 53 and 54: Bosnalijek d.d.Notes to financial s
Page 65 and 66: Bosnalijek d.d.Statement of income
Page 67 and 68: • Finances Department DirectorMir
Page 69 and 70: Middle East and Africa Region• Ag
Page 71 and 72: ®Registeredname/INNNOMIGREN N®cof

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