Velgraf Asset Management PLC JSC - Sofia

	12.2011
EXPENSES	9 785
A. Total operating expenses	9 594
I. Operational expenses	5 750
1. Material expenses	38
2. Hired services	1 217
3. Depreciation	3 702
4. Salaries, wages and other remuneration	357
5. Social security and welfare	50
6. Other expenditure, incl.	386
- impairment of assets
- provisions
II. Adjusting items
1. Book value of the sold assets (excl. finished production)
2. Cost of self-constructed or liquidated fixed assets
3. Change of stocks, unfinished production and prepayments
4. Animals fattening
5. Other adjusting items
III. Financial expenses	3 844
1. Interest expenses	3 756
incl. interests to related parties
2. Losses from operations with financial assets and instruments
3. Foreign exchange rate losses	18
4. Other financial expenses	70
C. Operating income	191
IV. Extraordinary expenses
D. Total expenses	9 594
E. Profit before tax	191
V. Tax expenses	13
1. Profit tax	13
2. Deferred corporate profit tax
3. Other taxes
E. Net income (Profit)	178
INCOME	9 785
A. Total operating income	9 785
I. Net sales revenue	8 586
1. Finished Products
2. Goods for resale
3. Materials
4. Services	5 964
- incl. intermediation
5. Fixed assets, rentals
6. Others	2 622
II. Subsidies
incl . State budget grants
III. Financial income	1 199
1. Interest income	1 199
incl. interests from related parties
2. Income from participations
incl. dividends from related parties
3. Gains from trading with financial instruments
4. Profits from foreign exchange rates
5. Other financial income
C. Operating loss
IV. Extraordinary revenues
D. Total Income	9 785
E. Loss before tax
F. Total Loss