FY 2012 - Investor Relations - NIS

11. INVENTORIES31 December 2012 31 December 2011Raw materials 26,875,929 23,272,50812. TRADE AND OTHER RECEIVABLESTrade receivables31 December 2012 31 December 2011Spare parts 2,138,316 2,783,196Tools 112,183 137,291Work in progress 7,937,015 5,802,756Finished goods 8,079,365 8,548,192Merchandise 4,050,054 2,270,55349,192,862 42,814,496Advances 1,234,319 764,659Less provision:- for inventories (6,447,124) (7,801,869)- for advances (373,071) (379,688)(6,820,195) (8,181,557)Total inventories – net 43,606,986 35,397,598Movement on inventory provision is as follows:2012 2011At 1 January (8,181,557) (5,334,979)Provision for impaired inventories and advances charged for the year (note 34) (17,771) (3,495,174)Provision reversed 332,274 57,603Write-off 9,235 570,839Transfer to newly formed subsidiaries 1,037,624 -Other - 20,154At 31 December (6,820,195) (8,181,557)- domestic 44,343,991 22,564,614- foreign 1,048,226 1,054,202- related parties 8,127,399 2,096,24253,519,616 25,715,058Receivables from specific operations 8,787,798 7,998,971Receivables from sales of assets to subsidiaries 364,055 -Interest receivables 6,125,320 4,984,235Receivables from employees 82,940 86,656Other receivables 7,444,391 7,428,788Less provision:13,652,651 12,499,67976,324,120 46,213,708- trade receivables (13,141,957) (5,684,020)- receivables from specific operations (8,418,580) (7,978,573)- interest receivables (5,864,441) (4,854,318)- other receivables (7,323,979) (7,323,558)(34,748,957) (25,840,469)Total receivables – net 41,575,163 20,373,239Trade receivables as at 31 December 2012 amounting to RSD 22,741,353 that are more than 90 days overdue areconsidered impaired, except for receivables of RSD 9,621,695 (31 December 2011: RSD 269,440) from a number ofindependent customers for whom there is no recent history of default or they were additionally secured in accordancewith Company credit policy.The ageing of trade receivables is as follows:31 December 2012 31 December 2011Up to 3 months 30,778,263 19,824,325Over 3 months 22,741,353 5,890,73353,519,616 25,715,058As at 31 December 2012, trade receivables of RSD 13,141,957 (31 December 2011: RSD 5,684,020) were impaired andfully provided for. The individually impaired receivables mainly relate to customers and are assessed as uncollectable.The ageing of receivables provided for is as follows:202 • FINANCIAL STATEMENTS Annual report for 2012Annual report for 2012FINANCIAL STATEMENTS • 203