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)9. INCOME TAX EXPENSEProfit before taxNon-deductible expensesAdditional depreciation charge for the tax purposesTaxable incomeIncome tax at the rate of 30%Tax relief – 100% upon reinvestment of profit in property, plant and equipmentDeferred tax expenseTax expense for the yearEffective tax rate for the year (%)2006.8.001114(2.343)5.7721.732(1.732)1641642,04%2005.(RESTATED)7.6512.2739.9242.977(2.977)---Changes to deferred tax liability can be presented as follows:Balance at beginning of yearIncreaseBalance at the end of year-164164---In 2006, the Company has decreased its taxable income by KM 2,434thousand in respect of the temporary difference between annualdepreciation charge for 2006, using the depreciation rates based on theestimated useful lives of property, plant and equipment, anddeprecition charge using the maximum allowable depreciation rates forthe tax purposes. As a result the Company has recognized the deferred taxliability using effective tax rate of 7% that is expected to apply in theperiod whan the liabilitiy will be settled.10. EARNINGS PER SHARENet profit for the purposes of basic earnings per shareWeighted average number of ordinary sharesfor the purposes of basic earnings per shareEarnings per share2006.7.8375.843.2760,00132005.(RESTATED)7.6515.843.2760,001364 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)11. PROPERTY, PLANT AND EQUIPMENTCOSTAt 31 December 2005AdditionsDisposalsOtherTransfersAt 31 December 2006ACCUMULATED DEPRECIATIONAt 31 December 2005Charge for the yearElimination on disposalsAt 31 December 2006CARRYING AMOUNTAt 31 December 2006At 31 December 2005LAND2.323----2.323----2.3232.323BUILDINGS69.824-(45)-18.01087.78924.8633.082(17)27.92859.86144.961MACHINERYAND EQUIPMENT39.985-(1.072)-13.84952.76222.0984.492(1.019)25.57127.19117.887SOFTWARE1.306-(40)-1.8683.134995479(5)1.4691.665311ASSETS UNDERCONSTRUCTION30.1035.831-(42)(33.034)2.858----2.85830.103ADVANCESPAID359782--(693)448----448359TOTAL143.9006.613(1.157)(42)-149.31447.9568.053(1.041)53.96894.34695.944Included in machinery and equipment with a carrying amount of KM 103thousand (2005 - KM 135 thousand) in respect of assets held underfinance leases (Note 20).The Company has pledged land, buildings, machinery and equipment with acarrying amount of approximately KM 48,421 thousand (2005 – KM 41,723thousand) to secure loans granted by IFC Washington, CBS Bank d.d.Sarajevo, HVB Central Profit banka d.d. Sarajevo, Investicijska bankaFederacije BiH d.o.o. Sarajevo and Bosna Bank International d.d. Sarajevo.12. INTANGIBLE ASSETSCOSTAt 31 December 2005AdditionsTransfersAt 31 December 2006ACCUMULATED AMORTIZATIONAt 31 December 2005Charge for the yearAt 31 December 2006CARRYING AMOUNTAt 31 December 2006At 31 December 2005LICENSES1.434-3.7595.1937239651.6883.505711INTANGIBLESIN PROGRESS2.0901.669(3.759)-----2.090TOTAL3.5241.669-5.1937239651.6883.5052.801Intangibles in progress include KM 539 thousand in respect of purchasedknow how and transfer of technology for the development of the newproducts.serving Your health INDEPENDENT AUDITOR’S REPORT ANNUAL REPORT 06 65
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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 57: 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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