FY 2012 - Investor Relations - NIS

RetirementallowancesJubileeawardsOtherbenefitsBalances as at 1 January 2011 992,900 3,657,173 95,928 4,746,001Benefits paid directly and other (63,544) (227,562) (4,002) (295,108)Total net income recognised in Consolidated IncomeStatement107,571 (1,170,857) (91,926) (1,155,212)Balances as at 31 December 2011 1,036,927 2,258,754 - 3,295,681Benefits paid directly (74,023) (121,398) - (195,421)Total net income recognised in Consolidated IncomeStatement(125,906) 26,166 - (99,740)Balances as at 31 December 2012 836,998 2,163,522 - 3,000,520Amounts recognized in Consolidated income statement:TotaYear ended 31 December2012 2011Current service cost 247,621 263,841Interest costs 235,246 241,609sPast service cost 488,948 -Curtailment gain (843,615) -Acturial gain (227,940) (1,660,662)31 December 2012 31 December 2011Between 1 and 2 years 22,184,094 4,538,604Between 2 and 5 years 2,405,694 22,487,295Over 5 years 6,510,915 6,748,644The maturity of non-current borrowings was as follows:31,100,703 33,774,54331 December 2012 31 December 2011USD 19,607,409 25,352,982EUR 9,269,068 8,900,998RSD 2,281,108 1,281,436JPY 476,584 513,779The fair value of non-current borrowings and their carrying amounts are equal.31,634,169 36,049,195The Group repays borrowings in accordance with agreed dynamics, i.e. determined annuity plans. The Group agreedboth fixed and floating interest rates with the creditors. Floating interest rates are connected with Euribor and Libor.Management expects that the Group will be able to fulfill its obligations within agreed timeframe.(99,740) (1,155,212)20. LONG-TERM BORROWINGS31 December 2012 31 December 2011Domestic 14,627,940 17,997,065Foreign 17,006,229 18,052,13031,634,169 36,049,195Current portion of long-term borrowings (note 22) (533,466) (2,274,652)Total 31,100,703 33,774,543290 • FINANCIAL STATEMENTS Annual report for 2012Annual report for 2012FINANCIAL STATEMENTS • 291