ANNUAL REPORT 06 - Bosnalijek dd

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Bosnalijek d.d.Notes to financial statements for the year ended 31 December 2006(All amounts are expressed in thousands of KM)ReservesFinancial liabilities and equityEquity reserves are formed in accordance with the local legislation byallocating at least 10% of annual net profit, up to 25% of share capital ofthe Company.Financial instrumentsFinancial assetsThe Company’s principal financial assets are cash and cash equivalents,trade receivables, other receivables and short-term loan receivables.Trade receivables, other receivables and short-term loan receivables arestated at their nominal value as reduced by appropriate allowances forestimated irrecoverable amounts.Financial liabilities are classified according to the substance of thecontractual arrangements entered into. Debt instruments issued whichcarry a right to convert to equity that is dependent on the outcome ofuncertainties beyond the control of both the Company and the holder areclassified as liabilities except where the possibility of non-conversion isremote.Significant financial liabilities include long-term loans, trade payables,short-term loans and other payables.Interest-bearing bank loans are recorded at the proceeds received, net ofdirect issue costs. Finance charges, including premiums payable onsettlement or redemption, are accounted for on an accrual basis and areadded to the carrying amount of the instrument to the extent they arenot settled in the period in which they arise.Trade and other payables are stated at their nominal value.62 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)4. REVENUE2006.Domestic sales67.554Foreign sales16.914Services rendered6484.5325. COST OF SALES2006.Raw materials15.510Merchandise8.395Production services6.754Employee expenses1.808Depreciation1.06933.5366. SELLING, ADMINISTRATIVE AND GENERAL EXPENSES2006.Employee expenses13.201Depreciation and amortisation7.949Marketing4.452Non-production services3.175Entertainment2.883Energy1.766Per diems and travel expenses1.416Bank fees445Insurance premium417Other expenses2.79438.4982005.71.13610.97010482.2102005.14.8619.1885.1141.2291.85232.2442005.(RESTATED)13.3406.8564.3072.2022.4041.1561.6497073192.35735.2977. OTHER OPERATING INCOME2006.2005.(RESTATED)Income from written off liabilties1.072-Collected trade receivables for whichallowance was made (Note 15)234300Donations (Note 21)4858Subsequently approved discounts from suppliers -340Income from investments*-920Other5973001.9511.918In 2006 the Company has recognized the income in the amount of KM1,072 in respect ot the lapsed liabilities towards former employees.* In 2005 income from investments in the amount of KM 911 thousandrelates to income from sale of appartment complex at Bjelašnica uponcompletion of construction works.8. OTHER OPERATING EXPENSES2006.2005.Donations and sponsorships738909Allowance for bad and doubtfultrade receivables (Note 15)448727Write-off of obsolete and unusable raw materials 2221.568Loss upon disposal of property, plant andequipment, net51349Write-off of finished goods and merchandise 34610Subsequently approved discounts to customers -670Other7539262.2465.759serving Your health INDEPENDENT AUDITOR’S REPORT ANNUAL REPORT 06 63
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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 and 50: Bosnalijek d.d.Statement of changes
Page 51 and 52: Bosnalijek d.d.Notes to financial s
Page 55: 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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ANNUAL REPORT 06 - Bosnalijek dd

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