2014 iq_consolidated and company's condensed interim financial information (unaudited)

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    Condensed interim statement of financial position

    Condensed interim statement of comprehensive income

    Condensed interim statement of cash flows

    Condensed interim statement of changes in equity

    Notes to the condensed interim financial information

    CONTENTS

  • 3CONSOLIDATED AND COMPANYS CONDENSED INTERIM FINANCIAL INFORMATION (unaudited)For the three month period ended 31 march 2014.

    Group Company

    31/03/2014 31/12/2013 31/03/2014 31/12/2013

    ASSETS

    Non-current assets

    Intangible assets 4 334,507 336,017 - -

    Property, plant, and equipment 5 7,243,934 7,318,650 29 33

    Prepayments for non-current assets 118 132 - -

    Investment property 122,600 121,626 - -

    Investments in subsidiaries and other investments 6 - - 2,823,796 2,763,355

    Investments in associates 22,157 28,800 - -

    Amounts receivable after one year and grants/subsidies receivable 715,696 712,888 690,000 690,000

    Other financial assets 7 169,130 57,302 169,130 57,302

    Other non-current assets 16,786 17,850 - -

    Deferred income tax assets 1,493 1,160 74 71

    Total non-current assets 8,626,421 8,594,425 3,683,029 3,510,761

    Current assets

    Inventories 33,830 34,614 - -

    Prepayments 27,725 16,292 90 8

    Trade receivables 265,159 304,437 2 2

    Other receivables 112,080 85,641 41,045 38,537

    Other current assets 142 227 3,000 -

    Prepaid income tax 9,143 10,190 - -

    Short-term investments and other financial assets 7 101,533 122,385 101,533 122,385

    Cash and cash equivalents 8 651,279 558,396 326,595 309,974

    1,200,891 1,132,182 472,265 470,906

    Non-current assets held for sale 618 618 266 266

    Total current assets 1,201,509 1,132,800 472,531 471,172

    TOTAL ASSETS 9,827,930 9,727,225 4,155,560 3,981,933

    Condensed interim statement of financial position (unaudited)For the three - month period ended 31 March 2014.All amounts in LTL thousands unless otherwise stated

    Continued on next page

  • 4CONSOLIDATED AND COMPANYS CONDENSED INTERIM FINANCIAL INFORMATION (unaudited)For the three month period ended 31 march 2014.

    EQUITY AND LIABILITIES

    Equity

    Share capital 4,179,849 4,067,164 4,179,849 4,067,164

    Reserves 1,437,874 1,456,119 - -

    Retained earnings (deficit) 105,679 30,194 (86,914) (87,060)

    Equity attributable to owners of the parent 5,723,402 5,553,477 4,092,935 3,980,104

    Non-controlling interest 708,235 699,228 - -

    Total equity 6,431,637 6,252,705 4,092,935 3,980,104

    Amounts payable and liabilities

    Amounts payable after one year and liabilities

    Non-current borrowings 11 1,069,565 805,826 - -

    Finance lease liabilities 87 36 - -

    Grants and subsidies 1,091,575 1,091,511 - -

    Deferred income tax liability 406,729 409,339 - -

    Provisions 10 4,583 4,588 - -

    Deferred income 187,395 189,523 - -

    Other non-current amounts payable and liabilities 67,403 77,559 - -

    Total amounts payable after one year and non-current liabilities 2,827,337 2,578,382 - -

    Amounts payable within one year and liabilities

    Current portion of non- current borrowings 11 113,052 302,656 - -

    Current borrowings 11 9,956 71,562 - -

    Current portion of finance lease liabilities 43 8 - -

    Trade payables 197,725 268,561 432 409

    Advance amounts received 80,953 69,470 - -

    Current income tax liabilities 15,211 7,765 - -

    Provisions 10 11,490 12,437 - -

    Other current amounts payable and liabilities 140,526 163,679 62,193 1,420

    Total amounts payable within one year and liabilities 568,956 896,138 62,625 1,829

    Total amounts payable and liabilities 3,396,293 3,474,520 62,625 1,829

    TOTAL EQUITY AND LIABILITIES 9,827,930 9,727,225 4,155,560 3,981,933

    The accompanying notes form an integral part of this condensed interim financial information.

    Group Company

    31/03/2014 31/12/2013 31/03/2014 31/12/2013

  • 5CONSOLIDATED AND COMPANYS CONDENSED INTERIM FINANCIAL INFORMATION (unaudited)For the three month period ended 31 march 2014.

    Group Company

    31/03/2014 31/12/2013 31/03/2014 31/12/2013

    RevenueSales revenue 692,633 731,778 - -

    Other operating income 28,783 24,219 2 2

    Total revenue 721,416 755,997 2 2

    Operating expensesPurchase of electricity or related services (406,997) (440,964) - -

    Purchase of gas and fuel oil (16,588) (42,867) - -

    Depreciation and amortisation (108,485) (125,274) (4) (4)

    Salaries and related expenses (58,439) (58,334) (2,101) (1,830)

    Repair and maintenance expenses (16,673) (15,645) - -

    Other expenses 12 (32,211) (49,289) (885) (646)

    Total operating expenses (639,393) (732,373) (2,990) (2,480)Operating profit/(loss) 82,023 23,624 (2,988) (2,478)

    Financing activitiesFinance income 13 3,231 4,964 3,139 3,665

    Finance costs 14 (7,191) (5,528) (8) -

    Finance income/(costs), net (3,960) (564) 3,131 3,665

    Profit (loss) before tax 78,063 23,060 143 1,187Current year income tax expense (14,758) (10,517) - -

    Deferred income tax (expense)/income 2,942 5,175 3 -

    Net profit (loss) for the year 66,247 17,718 146 1,187

    Attributable to:

    Owners of the parent 58,171 14,895 146 1,187

    Non-controlling interests 8,076 2,823 - -

    Other comprehensive income (loss)Items that will not be reclassified to profit or loss

    Gain (loss) on revaluation of non-current assets - (65) - -

    Total other comprehensive income (loss) for the year - (65) - -Total comprehensive income (loss) for the year 66,247 17,653 146 1,187

    Attributable to:

    Owners of the parent 58,171 14,833 146 1,187

    Non-controlling interests 8,076 2,820 - -

    Condensed interim statement of financial position (unaudited)For the three - month period ended 31 March 2014.All amounts in LTL thousands unless otherwise stated

    The accompanying notes form an integral part of this condensed interim financial information.

  • 6CONSOLIDATED AND COMPANYS CONDENSED INTERIM FINANCIAL INFORMATION (unaudited)For the three month period ended 31 march 2014.

    Group Company

    31/03/2014 31/12/2013 31/03/2014 31/12/2013

    Cash flows from operating activitiesNet profit (loss) 66,247 17,718 146 1,187

    Adjustments for non-monetary items:Depreciation and amortisation 118,599 135,437 4 4Revaluation of property, plant and equipment - (20) - -Income tax expense 11,816 5,342 (3) -(Depreciation) of grants (9,124) (10,162) - -Gain/(loss) on disposal/write-off of property, plant and equipment 2,261 3,329 - -Elimination of results of financing and investing activities:Interest income (3,193) (3,795) (3,139) (3,665)Interest expense 7,176 7,345 2 -Other finance (income)/costs (23) (2,986) 6 -

    Changes in working capital:(Increase) decrease in trade receivables and other amounts receivable 12,839 (15,744) (255) 66(Increase) decrease in inventories, prepayments and other current assets (10,564) 15,485 (82) 69Increase (decrease) in amounts payable, deferred income and advance amounts received (17,293) (16,056) 357 (72)Income tax (paid) (6,252) (86) - -

    Net cash flows from/(used in) operating activities 172,489 135,807 (2,964) (2,411)Cash flows from investing activities

    (Purchase) of property, plant and equipment and intangible assets (108,477) (113,256) - (5,642)Proceeds from sale of property, plant and equipment and intangible assets 1,111 4,223 - -Loans repaid, loan repayments received 16 49 (3,000) -Change in time deposits 993 7,970 993 5,000Acquisition of subsidiaries/associates - - (10) -Bonds acquired - (14,396) - (14,396)Bonds disposed 20,717 11,758 20,717 10,816Interest received 1,016 395 885 218

    Net cash from investing activities (84,624) (103,257) 19,585 (4,004)Cash flows from financing activities

    Proceeds from borrowings 93,453 77,901 - -Repayments of borrowings (19,318) (24,727) - -Lease payments (2) (88) - -Interest paid (4,712) (4,346) - -Dividends paid (44) (9) - -Other cash flows from financing activities (39) (17) - -

    Net cash flows from/(used in) financing activities 69,338 48,714 - -

    (Decrease) increase in cash and cash equivalents (including overdraft) 157,203 81,264 16,621 (6,415)Cash and cash equivalents (including overdraft) at the beginning of the period 487,688 (3,215) 309,974 57,765

    Cash and cash equivalents (including overdraft) at the end of the period 644,891 78,049 326,595 51,350

    Condensed interim statement of financial position (unaudited)For the three - month period ended 31 March 2014.All amounts in LTL thousands unless otherwise stated

    The accompanying notes form an integral part of this condensed interim financial information.

  • 7CONSOLIDATED AND COMPANYS CONDENSED INTERIM FINANCIAL INFORMATION (unaudited)For the three month period ended 31 march 2014.

    GroupEquity attributable to owners of the Group

    Non-controlling interest TotalShare

    capitalLegal

    reserveRevaluation

    reserveOther

    reservesRetained earnings Subtotal

    Balance at 1 January 2013 (Restated) 4,067,164 75,467 802,934 689,922 (207,569) 5,427,918 711,864 6,139,782Revaluation of property, plant and equipment, net of deferred income tax - - (62) - - (62) (3) (65)

    Total other comprehensive income/(loss) for the period - - (62) - - (62) (3) (65)Net profit (loss) for the reporting period (Restated) - - - - 14,895 14,895 2,823 17,718

    Total comprehensive income/(loss) for the period - - (62) - 14,895 14,833 2,820 17,653Transfer of revaluation reserve to retained earnings (depreciation transfer, net of deferred income tax) - - (18,749) - 18,749 - - -

    Changes in non-controlling interests on the reorganisation of group structure - 1

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