A&D Pharma Holdings NV consolidated

32,123

Balance Sheet

Segmental
(0)

(0)

(0)

(1)

(1)

(1)

(1)

(3)

MDP

SSB

SKU

Sograno

Destar

Bellerwick

Aje

Adjusted @
30.09.05

MDP

SSB

SKU

Sograno

Destar

Bellerwick

Aje

Adjusted @
31.12.04

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

ASSETS
Non current assets
A1

Property, plant and equipment

A2

Intangible assets

A3

Goodwill

A4

Investments in subsidiaries

A5

Long term receivables

Total Non current Assets

11,829

6,036

17,865

8,616

3,898

###

12,515

218

1,755

1,973

137

844

###

980

###

###

6,422

21

3,067
1,786
16,900

6,422

21

6,422

21

(9,455)

7,796

(9,455)

60

3,061

1,786

1,761

21,684

13,576

4
4,746

1,135
1,135

6,422

21

(9,455)
-

0
54
2,896

(9,455)

16,445

Current assets
B1

Inventories

B2

Accounts Receivable

19,412

6,426

105,222

13,784

B3

Other receivables and prepayments

4,960

1,315

B4

Cash and cash equivalents

5,316

2,616

Total Current Assets

134,910

TOTAL Assets

151,810

48,321

230

(126)

25,712

17,284

6,129

###

(137)

23,276

(65,060)

102,497

76,760

13,885

44,302

113

(59,699)

75,360

(56,024)

6,785

2,867

565

22,639

32,210

(54,724)

3,557

8,811

4,123

1,445

517

184

23,169

33,365

627

10

242

24,141

48,948

23,409

33,607

(121,210)

143,805

101,033

22,025

44,819

22,935

32,211

(114,560)

108,463

31,937

48,948

29,831

33,628

(130,665)

165,489

114,609

26,771

45,954

29,357

32,232

(124,015)

124,908

6,270

LIABILITIES
Shareholders' Equity and Liabilities
Shareholders' Equity
C1

Share capital

C2

Share premium

C3

Shareholder's contribution

C6

Merger reserve

C7

Converted loan

###

C8

F/C Translation reserve

###

C4

Retained earnings

C5

Profit for the year

(8,046)

Total shareholders'equity

1,408

D1

Minority Interest

E1

Deferred tax

E2

Negative goodwill

E3

Long term borrowings

E4

Amounts due to shareholders

(7,621)
(3,631)
20,997

(291)

(52)

(2)

(18)

(28,123)

7,692

(195)

195

(28,124)
-

(6,838)
-

6,904

(175)

(46)

(2)

###

(18)

175

(5,369)

(11,107)

(1,528)

25,714

(2,763)

(5,395)

(11,789)

(3,258)

(2,479)

###

9,365

(1,528)

28,834

18,839

8,403

###

###

###

(191)

(53)

(3,710)

1,182

(3,861)

816

(269)

448

(974)

7,118

(3,981)

1,612

(32,958)

###

###

9,365
(888)
-

9,441

2,632

(1,591)

1,016

(8,914)

(5,074)

(575)

(17,360)

2,077

6,143

(26,000)

(2,123)

(26,000)
(0)

485

(556)

5,578

4,741

(3,519)

697

(3,305)

3,627

(8,149)

(3,712)

1,164

(31,984)

9,386

(16,925)

###

(2,123)
-

Non-current liabilities

E5

Finance lease liabilities

Total NCL

(275)

275

(804)

###

297

(507)

###

###

(28,117)

50,793

(1,190)

1,190

###

(14,025)

(8,651)

(1,451)

(204)

(15,751)

(8,855)

(21,465)

(3,627)

(28,117)

50,793

(1,732)

1,732
-

(29,849)

0
-

(14,025)
-

(8,651)

(1,655)

(1,585)

(197)

(1,655)

(16,414)

(8,848)

(25,235)

(17,920)

(876)

###

(163)

###

(1,214)

(249)

52,800

(29,307)

52,280

0
(1,782)
(2,289)

Current liabilities
F1

Short term borrowings

F2

Amounts due to shareholders

F3

Trade payables
Other payables

F4
F5

(104,641)

(163)

(26,831)

(44,804)

(1,594)

(527)

68,424

(109,973)

(81,035)

(23,032)

(42,243)

62,348

(18,796)
(85,425)

###

###

(36)

(2,566)

(32)

###

(32)

(1,696)

(198)

(1,894)

(1,285)

(160)

###

(1,445)

Total CL

(130,332)

(30,692)

(44,967)

(1,594)

(670)

68,424

(139,831)

(100,272)

(24,068)

(42,243)

(1,214)

(249)

62,348

(105,698)

TOTAL Liabilities

(146,083)

(39,547)

(44,967)

(31,443)

(670)

121,224

(141,485)

(116,686)

(32,916)

(42,243)

(30,521)

(249)

114,628

(107,987)

(114,609)

(26,773)

(45,955)

(29,357)

(32,233)

124,015

(124,911)

Finance lease liabilities

(2,530)

Deferred income

(143)

###

TOTAL Shd's equity and liabilities

(144,675)

(32,429)

(48,948)

(29,831)

(33,628)

130,666

(158,845)

A&D Pharma Holdings NV consolidated

Profit&Loss
E

AA

Sales

BB

Profit from disposal of fixed assets

CC

Operating costs

MDP

SSB

SKU

Sograno

Destar

Bellerwick

Aje

Adjusted @
30.09.05

MDP

SSB

SKU

Sograno

Destar

Bellerwick

Aje

Adjusted @
31.12.04

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

EURO'000

(147,112)

(48,050)

(57,284)

(398)

(390)

139,605

48,766

57,398

490

1,515

716

114

92

1,125

-1.5%

-0.2%

82,019
-

(82,206)

(171,216)
165,568

(145,454)
140,945

(50,241)
-

(68,344)
-

(743)

(1,169)

48,475

64,302

988

183

245

(986)

95,257
(91,279)

(170,693)
163,615
0

Operating (profit) / loss

(7,507)
5.1%

(276)

(188)

(4,509)

(1,766)

(4,042)

3.3%

3.1%

3.5%

5.9%

DD

Other income

EE

Provision for investment

FF

Fin expense , net

GG

Other exp

HH

Provisions on inventory, doubt debts, investments

II

Goodwill amortisation

MCF

Gain on net monetary position

(2,530)

(Profit) /Loss on ordinary activities bef tax

Tax

(10,037)

Taxation

1,991

(Profit) /Loss before taxation and minority interst

LL

(8,046)

Profit attributable to minority interest

(Profit) /Loss for the year

(5,648)

##

(8,046)

105

(107)

345

(2,073)

821

(269)

(5)

437

(948)

11

(26)

816

(269)

448

(974)

816

(269)

448

(974)

Dividends distribution

(351)

446

(1,970)

(6,478)

(949)

1,971

1,403

374

(888)

(8,914)

(5,075)

(575)

(888)

(8,914)

(5,075)

(575)

(7,079)

(10,885)

321

(888)

Retained Earnings

(276)
(4,960)

3,978

4.1%

816

(701)

(3,721)
202
(3,519)
(3,519)

691
6
698
698

(2,353)

(3,339)
34
(3,305)
-

(3,305)

3,627
3,627
3,627

(3,091)

(10,169)
2,019
(8,150)
(8,150)##

(974)

(8,914)

16 OPERATING COSTS
18%

29%

CC11

Cost of sales

119,991

34,208

CC13

Salaries and benefits

4,683

5,945

CC16

Advertising and promotion

4,640

1,477

CC151

Management and consultance shareholders

CC15

Third party services

3,913

1,798

CC30

Depreciation and amortisation

1,329

CC20

Postage and telecommunication

CC19
CC18

(81,418)
282

36,741

5,207

5,820

67

127

11,222

6,117

3,721

1,273

4,994

849

452

915

959

2,288

1,084

650

351

342

693

321

141

463

Rent

480

2,356

2,840

255

1,773

2,034

Transportation

349

167

516

332

107

440

CC21

Insurance

288

29

317

267

29

296

CC17

Fuel, material and consumables

650

466

1,116

621

395

1,016

CC24

Provision for sundry debtors

113

174

CC29

Loss on disposal of fixed assets

200

25

225

29

(1)

28

CC23

Other taxes

145

102

247

120

118

238

CC28

Energy and water

136

377

513

106

267

373

CC27

Provision for bad and doubtful debts

1,209

245

1,454

(2)

(311)

CC26

Provision for slow moving and obsolete inventories

669

27

696

142

48

190

CC22

Repairs

221

91

312

234

70

303

CC31

Fx differences operational

CC32
CC25

Penalties and fines

(49)

Other expenses

287

140

108

129

139,605

48,766

57,398

490

1,515

13

(990)

(144)

(18)

(0)

5,133
6,948
1,734

174

(36)

231

231

666

520

193

56

770

165,568

140,945

48,475

2,370

(311)

5,133

127,341

2,362

79

(93,649)

7,756

483

58,719

5,825

2,271

1,025

125,530

10,910

4,800

123,000

(788)

113

12%
50,220

64,302

(513)

265

988

183

163,615

17 FINANCE EXPENSE, NET

FF2

Foreign exchange differences, net

FF3

Interest revenue

FF4

Interest expense and finance charges

FF5
FF6

Bank charges
Other financial expense, net

(5,057)
(169)
2,219

950

478

163

(1)
(2,530)
-

8
(1,556)
1,892

(184)

(701)

(1,892)

3,436

(3,436)

37

105

(107)

345

(2,073)
-

(7,068)
(199)

(5,078)

(2,082)

2,033

868

2,537

679

729

134

56

(4,960)
-

(43)

(13)

(48)

1,628

389
(1,970)
(0)

183
(2,537)
1
-

375

816

321

446

(2,353)

(0)

(0)

(0)

(141)

4,619

(4,639)

(190)

(5,297)
(91)
800
923
574
(3,092)
(1)
###

A&D Pharma Holdings NV consolidated

3.5586

Comb adjustments
31-Dec-05
Adj#

BS acc

PL acc

BS idx PL idx
1

30-Sep-05

30-Jun-05

DR / (CR)

DR / (CR)

DR / (CR)

EURO'000

EURO'000

EURO'000

31-Mar-05
DR / (CR)

31-Dec-04
DR / (CR)

EURO'000

EURO'000

Elimination of receivables MDP_SSB

1 F3

401MP

22,156

17,466

16,425

18,099

14,855

1 B2

411.SB

(22,156)

(17,466)

(16,425)

(18,099)

(14,903)

B3

451.SSB

1 F3

401

(22)
70

Elimination of receivables SKU_MDP

2 F3

401SKU

47,748

47,364

47,079

48,374

44,506

2 B2

411.MDP

(47,748)

(47,364)

(47,079)

(48,374)

(44,684)

2 C4

177RE

177

177

177

177

74

(177)

(177)

(177)

(177)

103

2 C5

ff

ff2

2 F3
2 C5

121

765

401ext
CC

CC11

121

607

Elimination of discount MDP_SSB

4 C5

AA

4 C5

FF

FF6

121

667

(190)

4 C5

CC

CC11

121

607.7

190

121

667.1

Elimination of PUP MDP_SSB

5 C5

CC

CC11

121

698.1

283

126

126

126

(187)
187

5 C4

177RE

5 B1

390p

(283)

(126)

(126)

(126)

(137)

(137)

(137)

(137)

31

137

137

137

137

105

(137)

Elimination of PUP SKU_MDP

6 C5

CC

CC11

121

6 C4

177RE

6 B1

390p

698.1

Elimination of sales MDP_SSB

7 C5

AA

7 C5

CC

7 C5

AA

7 C5

CC

CC11
CC25

121

707

42,804

23,947

16,220

10,363

25,810

121

607

(42,804)

(23,947)

(16,220)

(10,363)

(25,810)

121

704

121

628

76,560

57,284

36,812

23,209

66,968

(76,560)

(57,284)

(36,812)

(23,209)

(67,977)

Elimination of sales SKU_MDP

8 C5

AA

121

707.1

8 C5

GG

121

692

8 C5

AA

121

707.1

8 C5

CC

CC11

121

607

C5

ff

ff2

121

765

1,009
-

Elimination of management fees - Sograno_MDP,SSB

F3

401Sogr

F3

401.2

b2

411.MDP

b2

122
(122)

411.SB

C5

ff

C5

AA

C5

CC

ff2

121

230

(230)

122

122

46

(122)

(122)

(46)

113
(113)

765

Elimination of management fees & service agreement Destar_Sograno

CC15

121 704.Sogr

697

390

339

167

728

121 635.Des

(697)

(390)

(339)

(167)

(728)

F3

401.Des

1,697

1,498

1,442

1,290

1,108

B3

461.Sogr

(1,697)

(1,498)

(1,442)

(1,290)

(1,108)

A&D Pharma Holdings NV consolidated

3.5586

Comb adjustments
31-Dec-05
Adj#

BS acc

PL acc

BS idx PL idx

30-Sep-05

30-Jun-05

DR / (CR)

DR / (CR)

DR / (CR)

EURO'000

EURO'000

EURO'000

31-Mar-05
DR / (CR)

31-Dec-04
DR / (CR)

EURO'000

EURO'000

Elimination of management fees Destar_Sku

B3

461.SKU

(1,917)

(1,785)

(1,785)

(1,695)

F3

401.Des

1,699

1,918

1,842

1,699

C5

CC

C5

AA

CC15

121 704.SKU

c4
C5

121 628.Des

177re
ff

ff2

121

765

(4)

(4)

(4)

(4)

222

(129)

(53)

(8)

546

Elimination of management fees Sograno_SSB_MDP

C5

AA

121 704.MDP

513

352

244

122

C5

AA

121 704.SSB

46

46

46

46

196

C5

CC

(559)

(398)

(290)

(168)

(743)

CC15

121

628

Elimination of investment Destar_Sograno_SKU

9 C1

1012.2

18

18

18

18

18

9 C1

1012.1

9 F3

462.1

9 A4

261.1

(21)

(21)

(21)

(21)

(21)

C4

177RE

9 C5

ff

10

ff2

121

665

2
(0)

Elimination of investment Sograno_MDP and SSB

10 A4

261.1

(22,048)

(6,372)

(6,372)

(6,372)

(6,372)

10 C1

1012

22,739

7,161

7,063

6,905

6,378

10 C5
c5

MCF
ff

ff2

121

699.9

121

665

c4

177re

10 C6

101.8

11

(684)

(782)

(684)

(526)

(200)

(7)

(7)

(7)

(7)

193

Elimination of investment MDP in SSB

11 A4

261

(1,323)

(1,341)

(1,323)

(1,296)

(1,203)

11 A4

299

(2,045)

(1,721)

(2,045)

(2,002)

(1,859)

11 C4

102.2

2,045

1,721

2,045

2,003

1,561

11 E1

499dt

11 C4

177RE

2,732

2,732

2,732

2,688

11 C5

EE

c5

ff

C5

MCF

11 C6
12

ff2

2,732

275

297

121

697

121

665

119

(138)

119

91

44

121

699.9
(1,528)

(1,528)

(1,528)

(1,528)

(1,528)

101.8

Reclass of subsidiaries share capital as contribution

12 C1

1011

12 C1

1012

460

460

460

460

460

12 C1

1012.1

50

52

50

50

46

12 C1

1012.1

12 C2

1041

193

195

193

189

175

12 C3

102

(703)

(707)

(703)

(699)

(681)

A&D Pharma Holdings NV consolidated

3.5586

Comb adjustments
31-Dec-05
Adj#

BS acc

PL acc

BS idx PL idx
13

30-Sep-05

30-Jun-05

DR / (CR)

DR / (CR)

DR / (CR)

EURO'000

EURO'000

EURO'000

31-Mar-05
DR / (CR)

31-Dec-04
DR / (CR)

EURO'000

EURO'000

Elimination of intercompany loan

13 C7

102.1

13 E3

162

7,000

22,676

22,676

22,676

13 E3

162.Des

28,117

28,117

28,117

28,117

28,117

13 B3

2677.MDP

(6,917)

(13,941)

(13,941)

(13,941)

(13,941)

13 B3

2677.SSB

13 B3

2677.Sogr

C4
13 C5

(8,651)

(8,651)

(8,651)

(8,651)

(28,117)

(28,117)

(28,117)

(28,117)

(28,117)

(83)

(83)

(83)

(83)

(83)

177RE
ff

ff2

13 C5

121

22,676

665

121

14

Elimination of intercompany loan interest

14 B3

5187.Sogr

(1,439)

(1,732)

(1,439)

(1,354)

(1,190)

14 E4

1687.Des

1,439

1,732

1,439

1,354

1,190

14 B3

5187.MDP

(110)

(103)

14 B3

5187.SSB

(67)

(64)

(67)

14 C7

102.1

14 F3

1687.3

64

67

14 F3

1687

174

103

(3)

(3)

14 C4

177RE

(0)

(3)

(3)

14 C5

ff

15

ff2

121

665

Elimination of intercompany loan interest

15 C5

FF

FF4

121 666.Des

(2,537)

(1,892)

(1,255)

(624)

(2,537)

15 C5

FF

FF3

121 766.Sogr

2,537

1,892

1,255

624

2,537

15 C5

FF

FF3

121 766.MDP

1,272

952

631

314

1,287

15 C5

FF

FF3

121 766.SSB

789

592

390

195

795

15 C5

FF

FF4

121

(2,061)

(1,544)

(1,021)

(509)

(792)

15 C5

FF

FF4

121 666.Sogr

15 C5

ff

ff2

121

13 C5

666.2

(1,310)

665

20

121

16

Bellerwick other business related expenses - ref Bellerwick FS

16 C5

CC

CC15

121

622

3,840

c4

177re

4,689

4,689

4,689

4,689

849

16 C3

102

(4,689)

(4,689)

(4,689)

(4,689)

(4,689)

16

Additional converted loan

16 E4

167.16

16 E4

1687.3

16 C7

102.1

17

Reclass out of sh contrib of capitalised interest

17 C7

102.1

17 E4

1687.3

17
17 C5
17 C7

Late adj: Waiving of interest bu s/h

FF

FF4

121

666

102.1
0