Civil Credit Lawsuit

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Civil Credit Lawsuit Powered By Docstoc
					                                                                            TECHNICAL S.A.
                                                                       (REG. No13870/06/Β/86/13)
                                                                 FINANCIAL STATEMENT AS OF 09-30-2002

ASSETS                                                09/30/2002          09/30/2001          CAPITAL AND LIABILITIES                   09/30/2002        09/30/2001
ESTABLISHMENT EXPENSES                                 33,592,402.51         9,301,501.81     OWNERS EQUITY
Less depreciation as of 09/30/2002                      9,886,155.01         3,084,932.42     Paid up share capital                      24,493,366.50        15,583,272.19
                                                       23,706,247.50         6,216,569.39     Premium from share issues
FIXED ASSETS                                                                                  more than par value                        57,301,933.61        36,107,850.33
Tangible assets                                        55,759,890.79        26,461,367.70     Reserves                                   46,612,301.73        27,881,113.84
Less depreciation as of 09/30/2002                     17,505,192.66         6,276,708.57     Retained earnings                               7,222.59
Net value                                              38,254,698.13        20,184,659.13     Income for the period
Participations and other long-term                                                            01/01-09/30/2002 before tax                 5,504,129.52         5,966,211.62
financial assets                                       23,628,459.05        24,155,782.01     Tax audit assessments                          -8,404.02
Total Fixed Assets                                     61,883,157.18        44,340,441.14     Total owners equity                       133,910,549.93        85,538,447.99




CURRENT ASSETS
Inventory                                               5,998,824.01        5,863,281.62      PROVISIONS FOR EXTRAORDINARY
Customers                                              19,581,851.56       11,642,868.61      CONTINGENCIES AND EXPENSES                      9,398.64             28,466.66
Other receivables                                      71,940,486.27       79,075,626.88
Securities                                              4,630,413.35        4,474,911.50      LIABILITIES
Cash                     1.Cash on hand                   468,585.37          133,033.80      Long-term liabilities                      17,688,375.14        17,608,217.17
                         2.Sight deposits               3,464,660.74       13,496,878.61      Short-term liablilities                    46,263,146.90        62,931,450.36
Total Current Assets                                  106,084,821.30      114,686,601.02                                                 63,951,522.04        80,539,667.53

TRANSIT DEBIT BALANCES                                                                        TRANSIT CREDIT BALANCES
Prepaid expenses                                       15,164,222.37           862,970.63     Unearned income                             8,945,892.44                  0.00
                                                                                              Noncurrently due current expenses              21,085.30                  0.00
                                                                                                                                          8,966,977.74                  0.00

TOTAL ASSETS                                          206,838,448.35      166,106,582.18      TOTAL CAPITAL AND LIABILITIES             206,838,448.35       166,106,582.18

DEBIT MEMO ACCOUNTS                                   141,550,987.84      123,377,849.26      CREDIT MEMO ACCOUNTS                      141,550,987.84       123,377,849.26



ΣΗΜΕΙΩΣΕΙΣ
1.The accounting principles used are the same as those used to prepare the Balance Sheet of the period ending 31.12.2001
2. The financial accounts of ΑΤΤΙ-ΚΑΤ S.A. for the period 01/01/2002-09/30/2002 and of S. SIGALAS S.A., ATEMKE S.A., ELMEK
S.A. & EHOPLAST S.A. for the period 01/01/2002-08/31/2002 are included in the present financial statement. The current financial
data are not comparable to those of the previous period due to merger.
3.As of 09/30/2002 there are notes to mortgages as collateral upon the fixed assets amounting to 1.688.000 euro.
4.The present financial statement contains data of the branch in Kuwait as concluded from financial statements audited by Certified
Accountants (Kuwait).
5.The "Inventories" current assets account involves realised material costs and fees of specific infrastructure projects under
construction as of 09.30.2002
6.As of 09.30.2002 there is a pending lawsuit by ALTE S.A. against our company in the Athens Arbitration Court, claiming the amount
of 2,35 million euro, in relation to ALTE S.A.-ATTIKAT S.A.- IDEAL PRODUCTS S.A.-ALEXANDROUPOLIS HOSPITAL joint venture.
Our legal counselor asserts no success of this pending lawsuit by ALTE S.A. Moreover the company has proceded in arbitration of the
claims against Panegialios Agricultural Assossiation amounting to 2,47 mil. euro approximately, in the Three Member Arbitration Court
of Salonica. The same court is trying claim of the same kind by Panegialios Agricultural Assossiation.
7. The account "Other receivables" contains disputed claim of our branch in Kuwait amounting to 10,2 million euro approximately.

8. The number of the employed personnel is 632 persons.
9.Sales analysis per category of economic activity according to STACOD 91 4-digit rating:
STACOD 91 COMPANY CODE 452.1 CIVIL ENGINEER PROJECTS                                             10,756,645.49
STACOD 91 COMPANY CODE 452.3 HIGHWAY CONSTRUCTION                                                17,339,286.68
STACOD 91 COMPANY CODE 452.4 HIDRAULIC PROJECTS CONSTRUCTION                                     11,986,968.40
STACOD 91 COMPANY CODE 42.1 GRAVEL AND SAND EXCAVATION                                               97,364.91
STACOD 91 COMPANY CODE 266.3 CONCRETE CEMENT PRODUCTION                                           1,444,593.92
STACOD 91 COMPANY CODE 289.9 VARIOUS PRODUCTION
                                                  OF NON METALLIC MINERALS                          592,419.79
STACOD 91 JOINT VENTURES CODE 452.1 CIVIL ENGINEER PROJECTS                                      16,302,477.66
STACOD 91 JOINT VENTURES CODE 452.3 HIGHWAY CONSTRUCTION                                         35,522,357.20
STACOD 91 JOINT VENTURES CODE 452.4 HIDRAULIC PROJECTS CONSTRUCTION                               6,783,012.89
                                                                                  TOTAL         100,825,126.94




                                                                                       Athens, November 28 2003



        CHAIRMAN OF THE BOARD                        CHIEF EXECUTIVE OFFICER                         FINANCIAL MANAGER                    CHIEF ACCOUNTANT




                P. PANOUSIS                                     K. TSELOS                              SOFIA ALEXIADOY                         MARIA-ELENI VOUZA
                 ID R 871438                                   ID Α 113429                               ID Μ 014360                              ID Μ 014278
                                                   ATTI-KAT TECHNICAL S.A.


INCOME STATEMENT                                          1/1/2002 - 9/30/2002            1/1/2001 - 9/30/2001

ATTI-KAT turnover                                        42,217,279.19   42,217,279.19   23,603,788.59   23,603,788.59
Turnover from participation in joint ventures            58,607,847.75                   35,054,719.15
Less: Cost of sales (construction activity)             100,825,126.94   42,008,278.12   58,658,507.74   20,630,202.86
Gross operating profit                                                      209,001.07                    2,973,585.73
Plus other income                                                         1,024,480.48                        9,520.18
Total                                                                     1,233,481.55                    2,983,105.91
Less: Administrative expenses                             5,474,642.00                    1,878,679.40
       Selling expenses                                     337,141.70    5,811,783.70            0.00    1,878,679.40
Partial operating results                                                -4,578,302.15                    1,104,426.51
Plus: Financial Results                                                  10,611,058.44                    4,957,577.23
Total operating profit                                                    6,032,756.29                    6,062,003.74
Plus: Non-operating income                                  82,359.93                      209,519.25
Less: Non-operating expenses                               610,986.70      -528,626.77     305,311.37       -95,792.12
Operating & extraordinary profit                                          5,504,129.52                    5,966,211.62
Less: Total depreciation as of 09/30/2002                 1,649,458.31                    1,265,347.17
        Less: Depreciation included in operating cost     1,649,458.31            0.00    1,265,347.17            0.00
Net Results (profits) before tax                                          5,504,129.52                    5,966,211.62

				
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