TRANSLATION FROM ROMANIAN

________________________________________________________________
County: Timis
Legal person: ABC SRL
Address:
Number at the Trade Register:
Property form: limited liability trade companies
Main business: Manufacturing of parts and accessories for vehicles and vehicle engines
Tax number:
BALANCE SHEET
concluded on December 31, 2007
Form 10 - page 1
- RON line
BALANCE ON
NAME OF THE INDICATOR
01/01/2007
31/12/2007
A
B
1
2
A. Fixed assets
I. INTANGIBLES
1. Set-up costs (acc. 201-2801)
01
0
0
2. Development costs (acc. 203-2803-2903)
02
0
0
3. Concessions, patents, licenses, trademarks and similar rights 03
116940
586586
and assets (acc. 205+208-2805-2808-2905-2908)
4. Goodwill (acc. 2071-2807-2907)
04
0
0
5. Advance payments and intangible assets in progress (acc. 05
0
0
233+234-2933)
TOTAL: (line 01 to 05)
06
116940
586586
II. TANGIBLES
1. Land and buildings (acc. 211+212-2811-2812-2911-2912)
07
11084577
11263106
2. Plant and equipment (acc. 213-2813-2913)
08
8626893
12584924
3. Other plants, equipment and furniture (acc. 214-2814-2914) 09
538074
540018
4. Advance payments and tangible assets in progress (acc. 10
957303
2722161
231+232-2931)
TOTAL: (line 07 to 10)
11
21206847
27110209
III. FINANCIAL FIXED ASSETS
1. Investments in subsidiaries (acc. 261-2961)
12
0
0
2. Loans to subsidiaries (acc. 2671+2672-2964)
13
0
428
3. Investments in associates (acc. 263-2962)
14
0
0
4. Loans to associates (acc. 2673+2674-2965)
15
0
0
5. Investments as intangibles (acc. 265-2963)
16
0
0
6. Other loans (acc. 2675+2676+2678+2679-2966-2968)
17
0
0
TOTAL (line 12 to 17)
18
0
428
FIXED ASSETS - TOTAL (line 06+11+18)
19
21323787
27697223
B. CIRCULATING ASSETS
I. INVENTORIES
1. Raw materials and consumables (acc. 301+302+303+/- 20
4971759
7156140
308+351+358+381+/-388-391-392-3951-3958-398)
2. Work in progress (acc. 331+332+341+/-348-393-3941- 21
172341
242318
3952)
3. Finished goods and goods purchased for resale (acc. 22
1094482
1986986
345+346+/-348+354+356+357+361+/-368+371+/-378-39453946-3953-3954-3956-3957-396-397-4428)
4. Advance payments to suppliers for the purchase of 23
0
0
inventories (acc. 4091)
TOTAL: (line 20 to 23)
24
6238582
9385444
II. RECEIVABLES (amounts to be collected after one year
have to be indicated separately for each element)

1. Commercial receivables (acc. 2675+2676+2678+26792966-2968+4092+411+413+418-491)

2. Receivables from subsidiaries (acc. 451-495)
3. Receivables from associates (acc. 453-495)
4. Other receivables (acc.
425+4282+431+437+4382+441+4424+4428+444+445+446+
447+4482+4582+461+473-496+5187)
5. Subscribed and not paid in share capital (acc. 456-495)
TOTAL: (line 25 to 29)
III. SHORT TERM FINANCIAL INVESTMENTS
1. Shares in subsidiaries (acc. 501-591)
2. Other short term investments (acc. 505+506+508-595-596598+5113+5114)
TOTAL: (line 31+32)
IV. CASH REGISTER AND BANK ACCOUNTS (acc.
5112+512+531+532+541+542)
CIRCULATING ASSETS - TOTAL (line 24+30+33+34)
C. EXPENSES IN ADVANCE (acc. 471)
D. DEBTS TO BE PAID IN PERIOD SHORTER THAN 1
YEAR
1. Debenture loans (acc. 161+1681-169)
2.
Debts
towards
credit
institutions
(acc.
1621+1622+1624+1625+1627+1682+5191+5192+5198)
3. Advance payments from customers (acc. 419)
4. Commercial debts - suppliers (acc. 401+404+408)
5. Bills of exchange payable (acc. 403+405)
6.
Debts towards companies within the group (acc.
1661+1685+2691+451)
7. Debts towards associates (1663+1686+2692+453)
8. Other debts, including tax debts and debts related to social
securities (acc. 1623+1626+167+1687+2693+421+423+
424+426+427+4281+431+437+4381+441+4423+4428+444+4
46+447+4481+455+456+457+4581+462+473+509+5186+519
3+5194+5195+5196+5197)
TOTAL: (line 37 to 44)
E. NET CIRCULATING ASSETS/NET CURRENT DEBTS
(line 35+36-45-62)
F. TOTAL ASSETS MINUS CURRENT DEBTS (line 19+46)
G. DEBTS TO BE PAID IN PERIOD LONGER THAN 1
YEAR
1. Debenture loans (acc. 161+1681-169)
2.
Debts
towards
credit
institutions
(acc.
1621+1622+1624+1625+1627+1682+5191+5192+5198)
3. Advance payments from customers (acc. 419)
4. Commercial debts - suppliers (acc. 401+404+408)
5. Bills of exchange payable (acc. 403+405)
6.
Debts towards companies within the group (acc.
1661+1685+2691+451)
7. Debts towards associates (1663+1686+2692+453)
8. Other debts, including tax debts and debts related to social
securities (acc.1623+1626+167+1687+2693+421+423+424+
426+427+4281+431+437+4381+441+4423+4428+444+446+
447+4481+455+456+457+4581+462+473+509+5186+5193+
5194+5195+5196+5197)
TOTAL: (line 48 to 55)
H. PROVISIONS

25

4759249

13409755

26
27
28

0
0
6915284

0
0
1756374

29
30

0
11674533

0
15166129

31
32

0
0

0
0

33
34

0
2361671

0
7065924

35
36

20274786
965

31617497
72928

37
38

0
0

0
0

39
40
41
42

99040
27643418
0
0

155560
58196839
0
0

43
44

0
1344701

0
2891220

45
46

29087159
-8811408

61243619
-29553194

47

12512379

-1855971

48
49

0
0

0
0

50
51
52
53

0
0
0
21970905

0
0
0
33383519

54
55

0
505666

0
401475

56

22476571

33784994

1. Provisions for pensions and related payables (acc. 1515)

57
2. Provisions for taxes (acc. 1516)
58
3. Other provisions (acc. 1511+1512+1513+1514+1518)
59
TOTAL: (line 57 to 59)
60
I. DEFERRED INCOME
- Grants for investments (acc. 131+132+133+134+138)
61
- Deferred income (acc. 472)
62
TOTAL: (line 61 + 62)
63
J. SHARE CAPITAL AND RESERVES
I. SHARE CAPITAL
1. Paid in share capital (acc. 1012)
64
2. Not paid in share capital (acc. 1011)
65
3. Assets (autonomous companies) (acc. 1015)
66
TOTAL: (line 64 to 66)
67
II. PREMIUM RELATED TO SHARE CAPITAL (acc. 104)
68
III. REVALUATION RESERVE (acc. 105)
69
IV. RESERVES
1. Legal reserve ( acc. 1061)
70
2. Statutory or contractual capital reserve (acc. 1063)
71
3. Reserve representing surplus from revaluation reserve (acc. 72
1065)
4. Other reserves (acc. 1068)
73
TOTAL (line 70 to 73)
74
Own shares (acc. 109)
75
Profit from instruments of own capitals (acc. 141)
76
Loss from instruments of own capitals (acc. 149)
77
V. PROFIT OR LOSS CARRIED FORWARD
Credit balance (acc. 117)
78
Debit balance (acc. 117)
79
VI. PROFIT OR LOSS OF THE FINANCIAL YEAR
Credit balance (acc. 121)
80
Debit balance (acc. 121)
81
Profit distribution (acc. 129)
82
OWN CAPITALS - TOTAL (line 67+68+69+74-75+76- 83
77+78-79+80-81-82)
Assets (autonomous companies) (acc. 1016)
84
CAPITALS / TOTAL (line 83+84)
85
Director,
Financial Manager

0
0
0
0

0
0
2740206
2740206

0
0
0

0
0
0

11049958
0
0
11049958
0
0

11049958
0
0
11049958
0
203192

0
0
0

0
0
0

0
0
0
0
0

0
0
0
0
0

0
5717625

0
21156303

0
15296525
0
-9964192

0
28478018
0
-38381171

0
-9964192

0
-38381171

PROFIT AND LOSS ACCOUNT

concluded on December 31, 2007
Form 20 - Page 1
NAME OF THE INDICATOR

- RON
LINE Income in the reporting period
31/12/2006
31/12/2007
A
B
1
2
1. NET TURNOVER (line 02 to 05)
01
14035951
49206617
Sold production (acc. 701+702+703+704+705+706+708)
02
14035951
48940681
Sale of goods purchased for resale (acc. 707)
03
0
265936
Interest income of leasing companies (acc. 766)
04
0
0
Incomes from the operation subsidies related to the net 05
0
0
turnover (acc. 7411)
2. Variation of the inventory (acc. 711) - Credit balance
06
1296357
1086287
and of the work in progress
- Debt balance
07
505996
0
3. Capitalized costs of intangible and tangible non-current 08
0
0
assets (acc. 721+722)
4. Subsidies related to other incomes (acc. 7417+758)
09
2613895
2491237

INCOMES FROM OPERATION - TOTAL (line 01+0607+08+09)

5. a) Expenses with raw materials and consumables (acc.
601+602-7412)
Other material expenses (acc. 603+604+606+608)
b) Other expenses (power and water) (acc. 605-7413)
c) Goods for resale (acc. 607)
6. Personnel expenses (line 16+17) of them:
a) Salaries (acc. 641+642-7414)
b) Expenses with insurances and social security (acc. 6457415)
7. a) Depreciation and provisions for depreciation of tangibles
and intangibles (line 19-20)
a.1) Expenses (acc. 6811+6813)
a.2) Incomes (acc. 7813)
b) Adjustment of the value of circulating assets (line 22-23)
b.1) Expenses (acc. 654+6814)
b.2) Incomes (acc. 754+7814)
8. Other expenses from operation (line 25 to 28)
8.1 Expenses regarding external services (acc. 611+612+613+
614+621+622+623+624+625+626+627+628-7416)
8.2 Expenses with other taxes, fees and assimilated deposits
(acc. 635)
8.3 Expenses with indemnification, donations and assigned
assets (acc. 658)
Expenses with refinancing interests registered by leasing
companies (acc. 666)
Adjustments related to provisions for risks and expenses (line
30-31)
- Expenses (acc. 6812)
- Incomes (acc. 7812)
EXPENSES FROM OPERATION TOTAL
(line 11 to 15+18+21+24+29)
BALANCE FROM OPERATION - Profit (line 10-32)
- Loss (line 32-10)
9. Revenues from long term investments (acc. 7611+7613)
- of them, within the group
10. Revenues from long term receivables (acc. 763)
- of them, within the group
11. Interest income (acc. 766)
- of them, within the group
Other financial income (acc. 762+764+765+767+768)
FINANCIAL INCOMES - TOTAL (line 35+37+39+41)
12. Adjustment of the financial fixed assets and of financial
investments held as circulating assets (line 44-45)
- Expenses (acc. 686)
- Incomes (acc. 786)
13. Expenses with interests (acc. 666-7418)
- of them, within the group
Other financial expenses (acc. 663+664+665+667+668)
FINANCIAL EXPENSES - TOTAL (line 43+46+48)
FINANCIAL BALANCE - Profit (line 42-49)
- Loss (line 49-42)
14. CURRENT BALANCE - Profit (line 10+42-32-49)
- Loss (line 32+49-10-42)
15. Extraordinary revenues (acc. 771)

10

17440207

52784141

11

14006472

38737626

12
13
14
15
16
17

713645
385583
0
2665301
2036454
628847

477866
640202
185112
8489593
6664963
1824630

18

1088186

2025681

19
20
21
22
23
24
25

1088186
0
0
0
0
14735952
14460722

2025681
0
0
0
0
21876030
20350345

26

60956

314960

27

214274

1210725

28

29

2740206

30
31
32

0
0
33595139

2740206
0
75172316

33
34
35
36
37
38
39
40
41
42
43

0
16154932
0
0
0
0
30049
0
2323227
2353276
0

0
22388175
0
0
0
0
69578
0
3617782
3687360
0

44
45
46
47
48
49
50
51
52
53
54

0
0
708193
0
786676
1494869
858407
0
0
15296525
0

0
0
1003655
0
8773548
9777203
0
6089843
0
28478018
0

16. Extraordinary expenses (acc. 671)

55
17. PROFIT OR LOSS FROM EXTRAORDINARY
56
OPERATION - Profit (line 54-55)
- Loss (line 55-54)
57
TOTAL REVENUES (line 10+42+54)
58
TOTAL EXPENSES (line 32+49+55)
59
GROSS PROFIT OR LOSS - Profit (line 58-59)
60
- Loss ( line 59-58)
61
18. Income tax (acc. 691)
62
19. Other taxes not represented above (acc. 698)
63
20. NET PROFIT OR LOSS OF THE FINANCIAL YEAR
64
- Profit (line 60-61-62-63)
- Loss (line 61+62+63-60) 65
Director,
Financial Manager

0
0

0
0

0
19793483
35090008
0
15296525
0
0
0

0
56471501
84949519
0
28478018
0
0
0

15296525

28478018

INFORMATIVE DATA
on December 31, 2007
Form 30 - page 1
I. Data regarding the recorded balance
Organizations that have recorded profit
Organizations that have recorded loss

Line

Number of
organizations

01
02

0
1
Total
(col. 2+3)

II. Data regarding due payments

A
DUE PAYMENTS - TOTAL (line 04+08+14 to
18+22), of them:
Suppliers with due payments - total (line 05 to
07), of them:
- over 30 days
- over 90 days
- over 1 year
Companys due contributions to the budget of
social securities - total (line 09 to 13), of them:
- contributions of employees, employers and
other assimilated persons to the state social
securities
- contributions to the state health insurance fund
- contributions to the additional retirement
pension
- contributions to the budget of unemployment
insurance
- other social debts
Due payments to the budgets of special funds
and other funds
Due payments to other creditors
Unpaid taxes and fees at the established
deadline to the state budget
Unpaid taxes and fees at the established
deadline to local budgets
Bank credits not reimbursed at due date - total
(line 19 to 21), of them:

Line
B

Amounts

0
28478018

Of them:
For current For investment
business
business
2

03

34499473

34499473

04

34499473

34499473

05
06
07
08

5514524
28447170
537779
0

5514524
28447170
537779
0

0
0
0
0

09

10
11

0
0

0
0

0
0

12

13
14

0
0

0
0

0
0

15
16

0
0

0
0

0
0

17

18

- due after 30 days

- due after 90 days
- due after 1 year
Due interests

19
20
21
22

III. Average number of employees

Average number of employees

0
0
0
0
Line
23

0
0
0
0

31.12.2006
173

IV. Payments of interests and royalties

Line

Gross incomes from interests paid by Romanian legal persons to

non-resident private persons from member states of the
European Union, of them:
- tax due to state budget
Gross incomes from interests paid by Romanian legal persons to
affiliated legal persons *), non-resident from member states of
the European Union, of them:
- tax due to state budget
Gross incomes from royalties paid by Romanian legal persons to
affiliated legal persons *), non-resident from member states of
the European Union, of them:
- tax due to state budget
V. Meal vouchers

31.12.2007
350
Amounts
(RON)

24

25
26

0
0

27
28

0
0

29

Line

Equivalent value of meal vouchers granted to employees

0
0
0
0

Amounts
(RON)

30

538065

VI. Innovation expenses

Line 31.12.2006
- innovation expenses completed during the term
31
0
- innovation expenses to be completed during the term
32
0
- innovation expenses abandoned during the term
33
0
Director,
Financial Manager

31.12.2007
0
0
0

STATUS OF THE INVESTED ASSETS

Form 40 page 1

- RON Gross values

Elements of invested assets

A
Intangibles
Incorporation
expenses
and
development expenses
Other invested assets
Prepayments
and
ongoing
intangibles
TOTAL (line 01 to 03)
Tangibles
Lands
Constructions
Technological equipment
and
machines
Other equipment, installations and
furniture
Prepayments
and
ongoing

Line

Initial
balance

Increases

Final
balance

Reductions
Total

Of them:
partitions and
quashing

(line 5 =
1+2-3)

01

02
03

166140
0

637080
0

0
0

X
X

803220
0

04

166140

637080

803220

05
06
07

1300648
10079870
9289765

0
460376
5358042

0
0
30705

X
0
0

1300648
10540246
14617102

08

659215

196985

3291

852909

09

957303

2682882

918024

2722161

tangibles
Financial invested assets
Total (line 05 to 09)
Fixed assets - TOTAL (line
04+10-11)

22286801
0
22452941

10
11
12

8698285
428
9335793

952020
0
952020

0
X
0

30033066
428
30836714

STATUS OF THE AMORTIZATION OF THE INVESTED ASSETS

- RON Elements of invested assets

Line

Initial
balance

Amortization
during the
year

Amortization
related to
deregistered
invested
assets

Intangibles
Incorporation
expenses
and
development expenses
Other invested assets
Prepayments and ongoing intangibles
TOTAL (line 13 + 14)
Tangibles
Lands
Constructions
Technological equipment
and
machines
Other equipment, installations and
furniture
Total (line 16 to 19)
Amortization - TOTAL (line 15+20)

13

14
15

49200
49200

167434
167434

0
0

216634
216634

16
17
18

0
295941
662872

0
281847
1384650

0
0
15344

0
577788
2032178

19

121141

191750

312891

20
21

1079954
1129154

1858247
2025681

15344
15344

2922857
3139491

Form 40 page 2
Elements of invested assets

Line

Initial
balance

10

Intangibles
Incorporation
expenses
and
development expenses
Other invested assets
Prepayments and ongoing intangibles
TOTAL (line 22 to 24)
Tangibles
Lands
Constructions
Technological equipment
and
machines
Other equipment, installations and
furniture
Prepayments and ongoing tangibles
TOTAL (line 26 to 30)
Financial invested assets
Provisions for depreciation Total
(line 25+31+32)
Director,

Amortization
at the end of
the year
(line 9=6+7-8)

Provisions
established
during the
year
11

- RON Provisions
Final
taken over balance (line
in incomes
13 = 10+1112=
12
13

22

23
24
25

0
0
0

0
0
0

0
0
0

0
0
0

26
27
28

0
0
0

0
0
0

0
0
0

0
0
0

29

30
31
32
33

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

Financial Manager