AB Sanitas [CONSOLIDATED ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2007 AND CONSOLIDATED AND PARENT COMPANY'S FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2007 PREPARED ACCORDING TO INTERNATIONAL FINANCIAL "REPORTING STANDARDS AS ADOPTED BY THE EUROPEAN UNION PRESENTED TOGETHER WITH INDEPENDENT AUDITORS REPORTCONTENTS | REPORTING PERIOD FOR WHICH CONSOLIDATED ANNUAL REPORT IS PREPARED... = = 1 SST a i a aap 2 Main data about Sanitas AB (hereinafter the Company ar Sanita. o — $ Sse fort ag Sart = 2 rac inl eel a Cor a us. = $ fils cea nea oe pas 2 Short history of Santas grou, = —— 9. Compost Retreat apt ht Prac by shares — 1 Selif cn ty he irra sci. fetes een rate 1 St she venta in 8 ony wh rin ir Boies Mica nr : : : i Reels en i rn sb ad Ear at ec tc ans rg a oi Saas sot cas nas tba ke ase \. SANITAS GROUP'S ACTIVITY REVIEW. ~ a on eeepc Baa Sine aca ad Soop i a <8 EET. See and products dition oI m8 25 Reted party tancortonter ' = 1s 2 Grae of amendment of te his of Asotin athe Camean e Ett eee teeter 1 SanirAS scl Osun Foi REGARDING Te COMPLIANCE Wl GOUERHANCE COBE FOR Tie COWPAWES IREEPENGET AUorTons REROR? - = Satan of changes i ej@ AB Sauras CONSOLIDATED FINANCIAL STATEMENTS FOR 2007 AND CONSOLIDATED ANNUAL REPORT FOR 2007 Confirmation of responsible persons ening th es on Preparston A Submision Ot Per Ae Kan netalin Oe Lhaton Secs Camisan andar 21 te Law on Serie Of Tha Repub Of Laan we Sau curios Goer ange of ‘Az Sanos a Mitre, Ores ef Copares ard Laj alas AB Sntar and Neus Gobo Coa nance (fear a A Saas hry cori oe tet ou tnaeage, estas conoteseg anes sta 2007 ‘trope in accordance vin ests tslteepng crc gets sd fs vow of soe ies Sonal saa Sot erloeso A Santas yup al coud su rapa 300 ee odor eve tou he bares ovlopar en actny oA Saas gp tage Ssenten oa te suns. ‘A santa Geral Manager ‘outs tepeenae ‘a Sanias Deore Soporte snd Legs are omnnie ‘A Santas Chit Fae Oe orp robesAB SANTAS. ‘CONSOLIDATED ANNUAL REPORT FOR THE YEAR ENDED: 31 DECEMBER 247 {stents are now Tens hvise tt) Consolidated annual report |. REPORTING PERIOD FOR WHICH CONSOLIDATED ANNUAL REPORTS PREPARED 1. Reporting period he Consakited AnnualReport prepares 2007 1. SHORT PRESENTATION OF SAWTAS AB GROUP 2. an data about Santa AB (hrsnter the Company or Senitas) 3 Contacts of ter enterprises comprising Sante rou Sant Fares 2a aaa eget a Bie ton — eget ich GSD a cncan e Hoad | Regu legs one ot Repileo ahaama | ode ‘aes a [Wl eT, Kaa, —| Facute [aroarers6se— ema Sononeona ‘nase ‘wae —_c_CeofoN™}NNTN oe ee oat aac - TST Repeater _ Regataton le ison Tene Regal, nwch Sabo Ge egy we Swed Betton Zi, Sa Coe nee = | Skasbnsla 30,0389 ain, Sl eames osc RGR ‘tte Noscat bas TSA ronster — [inte aby pany — Rega eh Sapte ars Divi dis abate ongany we aed ——| Regeomes ‘resige Pal 2 SOO Jon Ss, POE [Pho none ereee00 Faxrumber agrsr5245 ena Dlagiets compl — Wate oe cm ‘ibsana UAB herent Asay Tie iy corny —— 1G napa 1098 aya a Roper oil eer oT Rope oT LTE asus ‘Vy sue 3, TARE Kas eorgeris E372 3546 4 Parto stattor capt ownod bythe Cmpany noha enterprises of Sait groupAB saNTAS, ‘CONSOLIDATED ANNUAL REPORT FOR THE YEAR ENDED 21 DECEMBER 207 aun re thousand {TL ues ave saa 5. Altes hepresenteve oficoeof enterprise comprising Sanit group eleaepeseiaie cas — iBpace tr 7/8 ‘aot avo Monon Ross Prague, Cen Rouse ‘el 7005 ‘or eeaneeraenetr ve, Uren aonpestro109, 8a Lape Kray tr 15 coger cd £4. Te main ctv of Sant group 1 nue anal fous ger maine 2 vcopmest at naw pre 2 cormaet manutacing 7. Short history of Sanites rou ison of Sana group eae sea a 1522 wen praca aba Sais wae eabhed in Kounes ly (Ua) end ved te rarer cores ths cout atin, he soreiny aaa devon, one were thang His of he rant Sania saan 194, ater raat of he Campa. Matar wa tna acento the fegutement Good Mrafacuing Pasir erent GMP} ard Svapd Ne ln May 2004 Santas acqued shares of anche Lihanen onutoctuet ofparmactcal raparaons AB Enkin Prepaaa nang 2085 te tara fs company a Vevey Soh, Raufen, acco pret Mossman ‘malo of AB "Saniss, wie partly need by Seca Furs te Eaopoen Un, bldg en rere eto ‘fmedne menfacre was sored Prope! ended end 2000 Indy 2008 Senitas aque manufac gare medines, ited kb corpany Hache tha, ached n Monin thy. Slovak. Prarmacavtea etry paring she ol fie Tava cura war aaanedin 12 fas modern ‘tipmer: Acquston Hoos! Seth worth feet staan of Saas ges an al seca ns sc ape Tarte of Canal Europa Att and 3006 Hosoi exalaned ees Pon, be Gee Reseaeare et stocrerepstere ait, 'n.200 Sats scyuted shares of lsh gene phamecnuca company Jen aa pest 100% of utarind cpt et istampany, Our soaaon socan erro tran sate eno oars wae seed Ime AB oe ‘rear Sans inet’ we seal ral persons puch shan, nan sch wo faa eaten ne ‘oer Tut SCA ane heros Venue Capt nenara Joey Us boca fo shares ‘Accuston of Jes was very ingore developing of Sant ie nd fr entarig marae of Cat Eup Povo of ‘Stitas gap’ rosuce as supplement ty more an 103 prose, Theol tt tls posse te soda Paar, ober arn sua, the Uta, he Gat Stes, he Czach Ropu, Hungry ana Sroka seas sade ages Russia [toscon te aie ne Fay {mission vats ‘The mission of Santas grou so be a ronng inenasona pharracastaconsany wth sat oc on te mart ‘Cent and Estar Euope anda be oe ofits compan ns fllin emo een ahd cua Corse, “Tho abs of Santas group ae “anspareney eamapie one Proscores,48 sana. ‘CONSOLIDATED ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 20:7 srouns on hound TL nas anise) |W. NFORWATION ON SANITAS AUTHORISED CAPITAL AND SECURITIES 9. Compositon of Santas authorised capita rights provided by shares ~ Nominal] “Tea seminal ~~Poston oft [Poe ora amoerotenos [aug | "eau lit" | awtand cp Dechy TST EER, z ‘SiS a Santas shreholr have he olouing separ and aon pop Hoh SnD rece pat tthe Companys pit: utc 2 recone a prt suts oe Capa igi, 4 toresove shorn neat payment aanatrad cpt neteaed os a ha Canpany nds 4 Lahave ne-orgtonrgtnsoquring sare or eowote deers ues by he Cap, exe cos when he ‘ener SharsarsHesng decis to wits te peeping rae sharers, ecard oe Law of Compaie ft epusecel Linas 5oled to he Company mana preccbad byw 8 foleav eter pete the ahve he te erat by wi {Libel or ofwrrse taster be shares othe proper oer parsons, 1 o Stona ne Cane Shovels Monty. 8 vote at Gener! Sarai Mass (one fy at share of ba owes novia vale ral ane vel {0 orecave ne formation conearing economic ec af te Campa ‘Tle la dam whe cour epron of derape resins om roesance of malestanceb he Corp manages ‘ta Boas mane oer obigtanepesrbea by te bw ante Asa essa al Sn tar ars dow by ‘The Saree may have tar ge pony an ran papa Hh 10, Santas shareholders “Tota mente fhe sharehliers on 31 Oserbe 2007 1200, Sarat a ity, wh hemor han oe Compan aria xs oles af 1 Dab 207: Ramperat Saw aoa T caine Shores Shar of vote ced by [Share of te etchant Name ofthe shacohoaee Wega frm, ares of | sw rghit ot | autos “hatare ang Teputers otice and cadet tho stampa) | ewnsrehin| capt 3 ein. ss i ‘Semi 5,3, 12 106969, samzs| 2530 sso | _ass IAS rita ee Vata ermtacjen Ave 2 vinuy te. s000eseso | iaaas | at ba wast | ast oat ses [106 we) ] aes | aa0 a sniz0 | tor or ass |W yd Bones siegor | m7 (i ones Tune ugar | i fi bens 2a 7 Sings | rs [i Dots Jansen Sita [0 oo iain verre Cota ern Joy Lead ©0207 | saizgo| ot 8 eb Ropbles rd 7 Googe Tom, Grand Coyren rug 2 iesatark Chen vaste? 1044 Tater €xone,soosoro1__ | swan] wee 16apsaurTas ‘CONSOLIDATED ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 20¢7 (a oun re inhouse UT ns hae sine) 1. Allimtations of Sanita escurtes tranaerng (on 24 Febuary 2008 shrehotersapeanertbeteeen Amber Tt SCA, Cligoue Ventre Copia nlmsions!deeay Lime, #8 Inala, UAB Nevucara, UAB Asie, UNS Fees vests ides, natal peas Mi Dine Suh Lr Terns Navete, tr Joos Bain, Mit Nesj Naar, hie Arana Ts Aas Deora, Deru Stones Mr Dents Jas andthe Carron (eater Srarcioters ayeenes’ wos sored Inthe aresmet ie fears te saat the Caney ca, or aot xesy outed o oer ind Shc ages. co wal 12 Speci rights of controipossessod by the Santas shareholder nd deserpton ofthese right Nis agreed i.e Shoraesaoeent at: ~ each shader “Aber sl SCA ard Chiyoup Von Copia sates Sec Lined - hasnt onal ¢ ‘preciso tho Congary’s mating boy = anagonst ‘eManspenent Beara wie conpored fom 3 menber and, nee ers 286, he th win andr vote [taf any arendiets fof spslamerts of Assos Aaaostan hh wa eect in my chorea haber of he ‘mortars of ie Gos es {he Company sat pert the sarenolrs Abert SCA ac Cup Varts Cala literal Jersey Ltd vit ‘7d ape! the Company’ en each of is Suiza repens, te earn te Sooke of sours sd eee The ‘Company stl rove the sa shrealor wt an obesing ln Scat beac conn Yet 13 Lintaions of Companys sharholdrs voting rights ‘Accorang to the Shaehairsaproanent, the vn ante gonant kaves (2, & mil change inthe business of te ompany: ey merger te eal, eae or tor dopoea of he Corny = al or sdstaraly ato i Capen aes Sy Joo ventures bawecr he Company aa nae ny he attra of ary naw Suey oth Caray, aolamen fem posts Fhe Conpary: ety Wanacion wan any ofr, Maragsmn Scar ‘rere, sheen oor fond my neers) ste Sharer mowing or the Manejo Gara nae bo agraos ty shaeelaas Aron Nt [SCX ana Crap Vemare Capel sana Seay cas £4, ants shareholders agreements known te Cangeny according fo whch wanstering he secures andor ‘ong ight cn be lt No otter ereoners, oxen he Sartore arsenate oun the Compe. 15 Divldends pli to Seitas shareholders ‘Te Genera Starehoors Maing dees ipo deed pays ad se died our Poser have eit got hidande hey are sarenocers fe Company errs be nati get aencsan ora laps roundel te Sof he AC ‘ay that sono abot dienc Forte anc yer of 200, 2008, 2105 ard 2007 Company el pay ary dices. Divide per aaa a) Finacial yor otal diene, UT, shore UT com 9508 oo 2008 a ‘00 16 bat about secure wading nl shares of Santas re wad n guste mare. Snon 19 Septem 1894 20 Noverbor 208 tho onary eres shares ofthe Cory mee tae Cnet to tba Vrs Sas Eeonge (he raher VS) Aaah 1 Nove 906 the Companys srs were ested one aoa Ut ae VS Nain carats of he Compan thre Ind inthe Oa List barat | Worina value, | Tota sonal”) yetotimstees | amen | reer | ome |S sue [an etre wen |“Lromorni? sani 3 s08 3 Tats.‘CONSOLIDATED ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMSER 2007 smo ra outed LT ws erie sn {17.The changes of Santas shar pcs ad tarnovers ‘The change of Share pices and Turnovers = Tara LM = Bon TL 18 Information about the Snitassgreemens with Intermediaries of public rly in securitos “The Company hae and sarsmare wih ha fancslYokera company AB Fst (Kostucos ove. 23, Vi, {21 (370-9) 28 886 fax (370) 2760828) oncoming managenart ol routes sSsunsng seer vel be pds ‘spas sl concerning cay ad account secures and finds seeping sd nein ee ‘Tn Comany os an apretrentwin Dom Mahlaki BZ WK S.A. (nok 15, e2nan, Pend (48-61 B50 £960, oe (548-81) 854770 cancemng exngy and arcing o he sastary' las sarrtan en ud acrid crc 18. Santas own shares uring th perting peed Santa int aon ai énat hve hn shes |W. INFORMATION OW SAMITAS WANAGEWENT 22. Company' managing bos Company has ne General Starholo: Meeting, tingle aon meraing dy the Manager (wanes reco sd casi! ‘rckne bay =e anaperen Sou Tne sipancety ards a Sree Conger ‘The Management Boar of he Company farmed rm 8mamBers end i octet th Cantal Sharahokirs Meeting far te & “The Managing decors lect en dna by he Management a wich es slay. approves is eb eet proes sores a mgones poate. ‘Tis competenceof he Genes Shareolas Moating andthe ore fs eonoctin cape withthe Lao the Compan ot eRepibiee Cone, ‘The samptence of he Manager Sard are the Manosirg Dect. te one of hai ston and ancelaton loon ty he Law of Comparas of be Repub Lhuana The Vanegng Drea ha ato ge secur om fava oe oroany ote ele fe Garany or abe: persone on cary culegl cons azar athe motes he ‘arwarynornason esis orion af ie Sai an Nome, ure Postion ned "ots al Iie Dane Sone = ‘Cama Bae i Dsus Zora Nenber 186 1a Magna Caen Weber : ‘See 2604207 Wr Vinay BS amar 2 ‘Snes 260420071. At Memer [eso Ds eee tastes ——- = i 25 8 2007 We Sunt Ramer Na Meer [i Sous ngioae Managing Brater Snes 09072007 Me Naru ob ‘hit Hares (Uns 08072007 cade Keane hit Fre }AB SANITAS ‘8 inaiesNekinojm Ture Fanase~Manegenet ard aber, ‘AGE rasta Charman of he Managanent ar Aa rn peri Para < anger ro St Gara Grupa tata) = Charman fe Sane Boar SADOUNO (lala) Chairan of fe Swerver/ Boat Si Ato sv ~ Charan fe Euroa Boa Tinea Vines Unveaty, meaty of aon open compen OER oe ‘Re FA Festa Bows mera Do Enact rani nna" Sard mart 1 Santee Board menber Ute Gri buenos bare more reuse Bae (Manner Doe ‘nema 18s Uroga—anapemor: Board menbsr AB ns ease Chan oe raga ow ‘Ab Pring House Sprays -Naneperant Bose monter, ‘ok tcrenne errr Dowd mee ran rey eg yng nt) - oor py, seca tercvent | ME Renwan Roy | nenoey URS Lava NepetoveomaeKanaiag «Managemen Spd member Uns Prtnance~ Cranmer oe lanageman Bsr Se soa Mangere bearer. =_ | 88 Sno “anagnan aed manta | Matpoment Bose remAB Santas CONSOLIDATED ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2007 la mounts haus TL less hein ed) East Unveey savcanon Vos ay Fae) oe 1 Oe ans net ‘SRB issn decor “Ensen vpsuins Vageas Unvory aches degen bonnes SIaT aan Naver dope ‘boning nd race. ‘aie spent Safe Management oad marr. Neus oeeons (Gastrnenaer ats stout he begining ae end hs tm tes af seh Maragemert rena os ging oro em Epa ahs ter oss ——] Me Deu Su Pro aes a [Me Barus 2zome Fr 2008 2210 Me aris Cen ‘Stora =I 2a | Mi tuts Butoe ‘eae? 2010 Aah ay Ja0ezor an Dis Surapaa We zroazioe Fon 207 i Son Koma Na 3107208. 25012007 One toc ean, ec anders rey an gro wares ya rac le Mego et Imete of surinevaio and ange eet Soangng to ash mero Pola rag Gol, erage sect: and ‘het traner srg the oping jes mags by he corp “Teatenas ater Remuncraton, | paymantamade tre From prttte__| _Oteetancered property ‘Garber ate tora t T ‘Each mene ole Soar (Sarg t - [eae tor oh Amea ai wast? = 21. Agreements with Company's employes and mamas o! managing bodies proving compensation inthe cst of {hey ferlaton or Otel uth soravs ron af tek employment nts octet chang of cone! ot ‘he Gonpany has ro sed agreements wt is enpoyes rearing payment of Ne conpenesonsin ih case of nei ‘exgnston dans ano sees saan orf he empyment she nena! Sarge tha cara onthe CompanyAa saNTAS CONSOLIOATED ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2007 (al amounis sn housond TL nor wie sed , SANTAS GROUP ACTMITY REVIEW £22. Nonstnancial ctv review 21. Manscuing ‘A pantera roe iva, one Sr ot Sanne pop we med 207, canplane wih GP was {In 2007 Saniascontruseprotuctn nce ar, tite in Vt ave 3 Kaas, Avani nd vera rede 2 tie 756 mien, ‘Senta pas wo asiredconnucs sup otha matain 207. Alhe sare ine ther pgs ae mde wh mst intone now pat (Var Se. "S45 Kautun, Ltn) dncamernton wo we fnland, mr tsetse ft sqaeret state wot eed nthe tor 2 207 rtlason work vrtoson ys ra warehousing ses wa sarees Sémison ang abort lng wae aoe fishes. li, st the Corton case n 2008, ua. et of many aus en spect tm clause ard represents of ‘ontoe rarufoctng para Al aus cated als coptance wah SMP. hoa many cargos npocess Cana ‘Sn procnes ow, pacagiy marae cls caps fr vis) were mas ner onreae proces and produ sone. Tos do's posucton 2007 eNapaiee ga smion 2 tate “3mmen fie S38mion “Tw projet ware sated Lean arising and Overs Equpmet Eecvenes (OEE. tht ham ate designed ogre prone fu and feces ao lone producer tents Tot Hts proton in 2007: argos tion tbe 250 oan 222. nobess 182 erployeee wore fot Sanson 31 Daceber 207. The nub anployees deceased by 9 employees. n comparison eh 31 Doser 2008, The oat afer crane was on he tao 200 tees one acy sii ‘Shinetedeprment = ane a sa mange Teal nuber af employee f Sante proup eins say he cane on ad 4.4 on 31 Dsambe 2007 (1483 impoyen nt Beco 200) Ths nur ef enolooes nal changed an 80 2, owe Betas om 908 0 ‘SF Tho retease mth ranter ease Sse arloyes ns wane by blr one nem es na Sk Snucazchinetas ss wo a setaenment fo resto aa oe, Employment contactor ctestne arenes he Carey dort provid or ay earthy hel or osgane othe ployee tay pr rc! Astana. and 10 yeas erpoy ent gure rapa of rtoecs tare esean inser in Paramore eta edie py can ert orgy foiement nason ts corpary bie unser ase unon creamer. oy hits tenet cplnce he have Served’ seecie ronbere arf enemen " snore ‘hs ot 31 Decora 2007 te runber af enplayees wae tows “Santas 92 ‘occa Botha 948 eset Average uber of employees or 2007 was felons: Hoecrst otk — 318ag saniTas. ‘CONSOLIOATED ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2007 nls ree hua TL eas oer ttc) renown of employees by vl of onions Employes Tea = — — ‘Sas GOUT Bis [sats —— ps greg ———| 15a = — Be _Enionmatl ute were conidial rae ftha att oft Conary 207 nthe possees ol pod mane, pacing any convo waar ane eran mee eoaromisse sivesars and solae esse cm he pose palion ‘using he raporting paring Sante akon 37.07 nn? fata gn 2088 bu 5826250 nen 2007 se maroe nd aztec ot rane snasphare Pt fr he enol cea, marae wih 2005 ‘lpn nessa, ecne ie Gus a ut ga expanded (1295 fees wre ure 688, 201 Wes 2007. Santas usd 2s caren 207 2307 me consumption of est cass bal the czureton fet decease, in compereon ‘wth 2008 We apling avec ang daa 1365 of palston goin ampere (1,7 nem 2009, |p 2007 Sania czar abou 67 ons ef ase, tout en of hen wre hata, Mince and daly wat “ezine atary of he Comey at ante recardos ae tena by ase asnnstonng connie (Gad Toss Retreats, Un at om Un Can Unb Rye, SF Re cng onan ge cating he Lice polo’ nsreed preven ancora (issued 0 23 Jl 2005 aie nS Mach 2007 ad 1 Decober 2007 when epee persis lvel of planes aero pestis for enionmenta! at, 724 Santas cena esgach an vos ty ‘was dee 0 conan an ibe herapovie sess of cama. stain, dlbeliogy, ula, rl hoe [tbs 207 asl ate aequtoa 2007 seg starghan post oat. 2 oh dover td of ‘Seratopy were progestin en abode sey fering een abbepeng W208, [ts plans nvst now produc dossiers n 208 ensure canst Sawa ee pedi! ners ar counts 207 Santas ro tes 54 ata atorenton request end eevee 37 appa Sante group plans terre than $sdnen pede submacons 208 eee 228 Comosters ‘The man competes a Santas cup ae otter hamocnual maniacs upping gear medns to Crtal and Wet Eurepean mae was ain compels posing ate are UAB Luks, Sopharn, Ging, Actes hetve preparations - Hex Gadeon Rtorin ne mera ffs suplamans Vet ana diknars "Genel we fete, oeche Bits pesuesjecabe, bits, orimors man competes Zonta, ‘The stanges! poston in Pan has Plphama, Gino, Sanz and ther Pelsh an orn comoanes.AB saNITAS. ‘CONSOLIDATED ANNUAL REPORT FOR THE YEAR ENDED 31 OECEMBER 287 cn fi outed TL soars ies 228 Proawenent ‘The supp of Santas group cn be died in: "Suppor Ase Sharmacevtel Ingen (APS) at Exit: 2 Supplrs packaging ates. ERE ares OLE ‘Average mony Sai group purchases for 2007 wre about LL 5 wlan APs ean prcness cote 30% of Stpureace anew Purchaser APts ae econ oo Porches, on TT a 73 Sone im Sena grous lant prods tare produto anata of wich ern APT aed fr eaton Sais U9 oeant hove ala comon Aesop Major A supp, 2007 Enon Parca GALT ‘SPH Pama BW. oa “arabe E008 +o) Doosan 1 Fees aE Fisewe 1g ‘Gach it her Choe 10, Sessa ae nthe artacue of fernt metas te same excipients ote used ryote, reaton al hve pan ta yng them ‘omthe sare spins MERCK OREANTAG, BASE ‘Suppo of packaging mtr ae dvd to hese msi eur: "lass moves, a) “utes ote Pmt materi sas, eats, abs. ‘Thema sacaging mater suplir Ie Forma Vitun which upees areal. This company was elcady he way ‘tet Sonas group purchase T8300 000 ampules ome appr presse DU MISEEWLTL STEEN, ‘bres of al pchaing mates pronase 1224 Soles and pas ton ‘Test of Sats graupin 2007 sedan LL 33 mn nd achieved gro 107% compared wih 2008. Thi rth ‘sot ain by T2 month lasso cansotaron 2007 seomparson win 7 ns caaseaan F200, 2 naw products wrench n Sais rus cre ate 207. In 2007 Ja etolshed represen Hungry sean io stengien groups poston nts meta SANITAS ONSCLIONTED ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2007 (a aroun ae in oan LTE ures fave tes) Co ns oan Roses ‘her ee me 148 3 ange from 208) % ee Bsr Ww ‘he stongest aes growin i plamed for Russe in 2008, ne nuber ol mete eae epresentaies wil be siicanty ‘icasdin the repon its panned elabish Jae reresarisve fic h Bursa le 2 gure ef 008. 23. Financia acti roviow Saritas grou sles ae sve neat y LT 1737 mtn ena wih 25, in 2007 2007 Santas groupe net rot Io OTL 7.3 mln comporaon wih pales oF TL.7 2 ton #2006. Santas up oy ancl to ae wo a et namin in 2007 Revenars LT, aa sabe “% Growth 158.0% 07 a8. mT essa ies.23) (Grose Profi OTL e082 169784 ‘S.Grouh ast ex. SEA Hern “70% 506% Setng and diarauio omereee LTE Beate 73232 Soe Reverwoe 9% 209% Taina oeneae TL mer 173 evees 2% 75%, esa oft Onsen Acai ia 2690 BIT hE Bae ‘soir Fran Revancoe. LT ‘500 2a. Franeng Gots. ht TL Ta.) 7705 EBT tte (esr) 38736 “ave LT 2043 (C395) et profi. th. 7335) 37280 Ss crou 5108 208-0 % Es FTC EaiTOA TL aor oe 6 Goats Ta 2528 “aren Ea S198 VL OTHER INFORMATION 24 Mein risks and sk management ‘The man see ang fom he arc nevurents res ae, qui, og cuTEna) Sk na ee nls te at Compan rt Saas o's exposure tek of changes nara rostral deb ‘bigstins wa fonirg meresrtes Corel enone eat saci tage ed real san helee Company Sha Santee group tape te ianoal season mers ats Company a Sartae gop ony oer rat te Fee ae een erent gee {FOU monitor sik to shortage funds ising a sterdard repert onthe cash News with lilly projection fer the aie ba ‘Elan channel As a os operations in Ltwina Pond ard Sowa. Son reuse blancs shee can be fected by movements ine cpoing renseseichane ais Selae paup has areacionalceey expoetes. Such xBbeue "ten fom alto” prensa by an epaaing nm carencas cer tan fe ws uncon erency. Campa ah Sandas ‘you ia reny to naar srencyconrocs cee of nope fm Faneaion MPs hisa saras eNeCLIOATED ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2007 il eourt re nhourend TL wens erie Gas: Sense grup and Company vees ony wth ecopsed, city td pars ts the Snias grup and onparys potey ht customer un wih tae once ema ate sje ota vtec roca net fecavenltlaneos ar ones on a wel bass Facog wiht a ets cues sets atonal sc mean for ode ssceunl rosso coun af operaion Carpe ato use eat nara fr bmest end exon Vad plete ode osonisrecesble ‘Satatmenazenat Te pinay oer te cept management tens st Conpany snd Santas gp sab & ‘Seng eat nel and heathy cap sono suppor busrone me marae shoo’ vaun Company ‘bigted te upooo te egy rool les hn 0% sar capa as pcos bye Laon Compare ef Repo ot {lnwara Tle warraaher meray peta cap teceen Sanne guup ard Company Santas goup eno {eat vig ESITOA anda aie rato. anaes cure keeping te at below 40 (208 ast 1 Decor 2am. 25, Related party transactions ‘Sonos ha rates party ranean wis subse Misra Jolla an Hoe Sa) a well a wi he shar of {Pa Compary A Ile ands scosdlos (AB Fi Pasi, AB Vebnasa, UAB Lxinos Settee Proj 2 UAB fed) 507 "Sed win st eons whe pas pot as False ate oy 126. Orderafamancmento he Artis of Acsocaton ofthe Company, ‘Ie len of Assit fhe Carpry ray be amends cn te boul of he dosson adopted byte General Shuchllers ‘asin hha guatand ajo votes 2, wh th acon a caes epost he aw ae Carpane ep ot Lori, Alle te Gan! sharehetae Meeting has adoped he ocounte chy Se Nbc Acrecto, tsa otf theeronge ase sor ton at os wh the sree le prs auerou by the Genes Sharia Mcting “ihe change fhe Compan’ Srse of scomton gene wth he Socrates he sein oenange them mst be ‘egbleeain be Reg ot Lagal Patare acorn oh me poctied ew 21 Sloan agroamonts te party of whlch s Santas and which would come ito fore ortrmiatin the case of Zhang of conten the Conpony ‘The Companys at apy of stra eerie ht woud come hfe eimai in ate change of conten ne Company 28 Data about Company's publ closed information \Wle exer des Company bey announes al nrmaton 36 req by ets compari (nn rin ‘omaton,tansoston (2) misses wstoe conclu by he marope ether, al ove ad at} spate etait be pe eras msarmaionon VS ans Conary metas + 0117 January 2907 Chie pramagmica! nepeton of Pande o etre mateng of mesicnes Cytron 10 {ra Corre 28 proauce by Jota, whlch wae supandee see 1200, ae rapport eu prosusten tte sll meine Caton 25 wen Steed + G26 Apa 2007 Camany's Gener! saree aatng was hal sed uesonsesslged 0 be competence ‘2f Geral charset tng. spoved coecited a Caran’ Meal stereo 2000 ana aces ‘cio ropaang prof atten +n 26 Ao 2007 Conanys Gon shashokors mscing coded two now manor of the Management Board — Ii Abn Roy and Muse Sua, ey epaced Me Sun Kana Wane Me Da Jezapes Midas, Sah themresien + Gn 26 Ape 2007 te sts staan of Alea decd o reuse sdberaed capi ofthe camry Kom erat E1Lssrz0b HLT Ooo, fore purpoao of payng hin Alien Se Shaeolr, by vowing £9,272 of Be bares +18 Ju 2007 Joes representative fen Hungary was extabished,‘CONSOLIDATED ANNUAL REPORT FOR THE YEAR ENDED 3¢ OECEMBER 207 see ain waa Tt ess cars ae) Yu sitiras scx Ft REGAROWNG THE COMPLIANCE TH GOVERNANCE CODE FOR THE COMPANIES ‘The pute company Santas. etwng Arie 21 paragraph 3a te Law on Secures he Republi Lituaia an em 205 the racing acl te Vins Se Exchange Saceacs tongs wih a Covertoue Cate, spp eve {ortneconpanes ited onthe regis mars ana spete pone not spew. \exste ccowmentany ‘he oxeniingabjectve of «company should be lo operta a common itr of a tho sharhoters by optimizing ee eeeceieemenr, Seeaniersetreowsros Tia denon satay end oariong cis ct Campary sso se Secor ts atranrs reer’ rortSlosrn, Sa Noa open Salts. Company oreedcntenaes, ‘lone ett socal orca ft, “he acy arte ona tease ee Incmaten resorted create corsreroae, Cerra’ {nonal stoners eporsmisaran ans agien ‘ere ced a amps webpage ae is ee 72 Airarapran ices ofa company Sans ah ‘urtorance oft cecred sate soecvee Vee ‘Rota oopinze sara ie, ‘engan fa pares i thot er ss STE Seoege eecver Companys nage Sop Trarogonan mans ovary oe o achieve er IRolarenton now depres belong 0 Santas (poup ate ang eabahee ha amo eve fis to enor TA sores nipavaoy and mnegenari boas trebitdnchae oneatn none wan stun Superior bey ~Supevecy Bead at rad the Conp'y, Ts rcemmenaaton ered oy he Hod ot Company an te Marogorr Boarder retin also Repeat na Menage Boars ‘eplore mates dcsoneepeang at real ‘tors lat The Meneame Boat proves ‘tag f Sompanys si, ama autpe sree meksionst crais rtplonaristo al tage ‘Stans Corgan rani atorars andtanor em lronodte, paterson of dectons soot he Head fhe Comat are viet — {eine uncon dre. Moatnge fe anogorort Sours cowesoa account He nwa Metros ae Stonsodty netleasa te Cargo, attmes bye Fiegueat Koes sere TEA SSS HST a SEAT DOTS fenneos wie companys operation, ol ‘hore et prene conewrag wey Compan ‘cnt reraaret ay. petal rar Sout ‘ht eal trecae rang robe ‘Smuncaisn wh pen epee he anagem feritiruetd pores ~crtow, ie spor, [eatcormaniy rece necssty naratn otihe pany nd somaies he goer o ena rar figs angiwaracte Compory ae aetneg ee (Gbngroeiore wins bees arora at ropa onstiey usin’ of eoniscustobgatone ne aly scenes cf panics be way. epopees ‘Teinomat cv be ast cagang ase real Sones peserted wih tbe Conan egy ung ‘tru ige te orth aa Campy he Daraden "uses n nos tis wats a Engyser sre op 6ap santas ‘CONSOLIDATED ANMUAL REPORT FOR THE VEAR ENDED 31 DECEMBER 2107 snl ese Te nes ohaaie ted) ‘nlp Th compart poveane Vamawork protection ote Starsolors tres, ‘Te compornte governance framework should pout the tate guidance othe cempany, the elective everight othe ‘amparya maragemat tases tn sopoprite bance ana tiston of uneven benean the ompary=Badee, ‘torah’ acing maybe operon wots cet ot feslofce crass mo sted cons ndspeer ‘Salpaal sper, Utes copay sei ese foto Sap spansony aod bt eros ‘Stomane nt i ateman he Powe net ‘ctv car fh sompary shoud be a aren fers Farmar compan cet ecite ear sou et [rmadotoy sernaed a ho crarman ore cate tay etd yb grea sara’ ren, en © ‘Seonmaetoa tte tris omen on he ‘emus chen osm pers ot Hee gS eee oe ee fee seeamiiger =" |" |S on aeaae Sooners eet «| | Suara tommecrser meets Seecrremrecemanrity | |eyreameamea mana eat? Eemmemere te" | | utenieticamerecaet cvolssemre centers Sheer iene Sareea | | Ramen dena ent Baeccrsemercams | |Raavawosemnma Hiern cetera ierenaantuc reenact 2S eee ET Sane || eee igtrestenareree caee iecenenerrsememneye Seer TeRee ee tinan | | eeeureaeiueese Heaters Siete gnonrtuae ER fee ceromcaas [| Sesto ome Sera Si aremma tae eee gets ng muy crore hed escenario ier aca ae || See cee an Exiecermsumemenmcreare | | exrerenes eoteiny ware Seesmuramreieceranaesars, | | eabocteks memati crite wee Siorecewemumaietan | |teetasemmeasicarsrevess Segueeemeccme.| |Rumaenne S: Picea meena | 6 | ESR ERTS I eee | spt eeaceireamact Seeeincasnencics, | |Mekcnaraaamatats,., ieienyasestorenr Sete conieante TET TES [| See ECT iumemirecucrrmereeas, [se] =e mommies Eiocasaaenacsseees, pcbceatincetenmrenkacy eerresceumeroetar eee Sioeeeteae eemmenemene etcomae atta Ee ceonnen renaramemneeat See || Cory ot same pen, Preset ee ‘atpeneed wnt de Gey‘CONSOLIDATED ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2107 ipo ve innova Tunes oars sae) ‘he ordre the famation 2 calli ty bs ‘Smpanys aperaton ans manogonent bods, ‘PRG HE Ts Sa Ts OPRST Ta TRG DAY SB BT a paral hares wang Joced by pnt sharers? meting shed enue ‘Rprecntton af minor shereeloes, account ofthis bog toe sareholare ane objective monitoring of he Si fee tris ae Orion os eles Soa fe oct gore shooraers mesg erator Foie rope feteradt ae ho elope ot) seve sre ceive a ar rant he compan SSpiomer onde sev oops Sat Ts naa Re a os a a reves ase ard pars onto Corea ‘Menaganenttoiesnomaton on cnet er {Tovaee meprotesorl ockouna fe decoand we Sieandrepro® sacon n Gaver Shes Heing Mwy shorehoges soe aby have Seto fepecrte cng nena cy TE Nana TRATES ET EET Tender ofa cao oy, homaton sour ater, questo, neue, ostone [Sten nd ptenal cate of Prestehai te ceced Hate sae wlidhore affcent ne ono an ‘iomed vein sean Al ose acing te canassts Deependine, fe sempbst dwn ssa oa Recammenssion 2, sod 9 ao Seen Te {log bosy shales be reed on any subueqert ‘Sungesn ne proves ismaion The alg boay Sout on yary bess, cle! dee povided Bs em erent el dactse sn be compas smu “Cray ssl SoG WR TS OIG AOS ‘nine mssrmentstonnenee a foram ana ‘Shvane, mm nforeton eet ry be ceed ‘ten wd esoutoe ee Genel sharers Haina Cerdasee ve howe mooued aur he {Seno Sona ecg. Comgey eal ‘omatan ene aropenet ows members chenton, ‘rstons e raparcpaon Oe avy oo ‘Span, fematan om he nares of aragonsrt Beau aye ound Conant salons an aor. “TE Shouse prom be ronhaadi nara are cbevect bfrmanonan casa pacar ‘Srosteasravato she sen nie ote Shap. node suerocers ow mens we cet ‘Betnan wtener namgersconsearce bebe rear | etcotapal ton ‘Sopanys sca prs wee Toston on ‘he ongoetn afte colepel ten) Marapemar Board nde etter wonng eterno eaten er Si hoc naraina poe ER ETT turer qaleatonspseacns by ere Oe ‘Slabs ul atari ee corpcton en ‘Sgaro ihe company's sbucare og acvsoa ard hove ‘is poodealyavautea To alg boy shoud ere ath conpssoa of morners was awl, ate he, ‘euler of trot, cnn sept a ‘Siple De ns opr Thermember he aa. ernie cocoa, aud haves eceniroege ‘rg rtornswpnenes nie ff eon scoring [ides fora loc chang nes corre TER os NGO Ua NEG WE TRIER ‘ovtedge nthe fossa saree, cana ow awa 2¢ ‘Scent espsrea uaa nove ske compas eps SE Sire ron fe reg sao ST hiaherslo comnts rien wd saves The ass boo soul eando an ae mero arey ‘Siders ferment nena pans hr sea inowadne ‘Reber cine Waraperert oar are peated get [Grane th Caron = ntonal cocemeiaton ‘Sinus psa, fos ng pelo cy 36 fh ocr SoS aa RE STC ERT aoe we a rb ecto by ares fren ecologist oot ua amore ne Tae RSE SEA FEST ‘novagemertoay a auton snow el want ‘Genta: yer Ate queton lo conan ot ‘eens aren fd terete comple wie ‘Ssamnndsre ste Ce sno rmsnes 9 e ‘Forcolae posto cra freon of ‘rococo ao gong bes ®‘CONSOLIDATED ANNUAL REPORT FOR THE YEAR ENOED 34 DECEMBER 207 impos hous T snes ass ss TT A Rea oe GST ay ASSESS [NS] SE STS STE Detndopncen om fh fee ony buses ao ‘Sher aerehp we Do carpanyteconolng rarer oe managonartet eer ti cests acorn rest, Santo pari great See aces when ber tne cole sey nt bere depend ar ‘Rouse ks moreover ‘eaionoe ou crete ‘Reds ihe duermnaion a nacoendnce ey 7 ‘Seng compares sn bo pacts seg le ‘tom rye evohe acura re seco of epedonce ola montero he opal toe seul be ‘ates ote contre Be reuse ad ercuraos fate fan at fhe ty etn ein whet © (reel cag uoy Canter tobe cpa aretha “vip ne on exec oecr or mona one board (fa alogal boy seced 5) ho pone Serco tea he siprvcry bow) of he covey st (oul conpany an ost Saon such ge oat Rreyea: vee isnt mn empoye of te capary some sy ormpary ard nes ot buen such aig ie bat oo Years micept or eats nen mon ff clei say soa nt bing te sir managares See Cano! body cx 2 operate ote ‘een oleh has ben a eco test Sooeery che trometry ole te Staal Soiy, Such sao rorusten ices fartopsion im sfoe oars or se ober peso ‘iced pay srasma, dows tot Rete competion fronts fhe prov fice ne conpary ones SOS payment no wa aod wah oso Fr pean flan rua aeered compete Hale ist a carting sree presen of hoor sneha ora‘ aced ee Count Brose sameated nace tParty ‘ale does ot nave and dno nave any mater usnees rears tn Mie corey Boe ‘Sra win the ost ye decor @ pet ‘areal crac or sup erployee fe sad ‘ung ch eto Asap © cheered hve ‘near raion wn mor spe Soe rower (neurve of franc apa conesieg ant ‘Ewing tvs), mar cat of ancien reehng ‘gear popent fm te eampsy oe real ‘yh no ard es ot Bean. ur ha st ro ours etn © eng cat al oatCCONSOLIOATED ANNUAL REPORT FOR THE YEAR ENDED 91 BECEIMBER x07 fal sau tein Bouaad T unoas ohare sed) TEESE GR Sa Ta TRS TESS ‘epam or manor ona bows f= sings tay teaad oy he gener shaehobew’ retry he ‘paver doug) nennseavearecur oreo | Ie suport Pla ray nt Se Nee ayo Petal ‘eons wit encuveaiecots af he ‘rmpny thal ne for th parpaton in aos ot ‘the compas arenas 28) Hath nano oen nt poston ofa meer of he Blog! ooo" Pa ors yan spa 8 cae fale to an exceed | Inertar of ta Sard (i's cog Gedy eaded by (rte shavaots eet we upeeny bod) ot ‘Benporso inedin amie tore io Cees eat ie ‘roared be a spouse eam spouse ene pnolntarsunvemnestan PP "Ta Th eran Wa GS panes | RA] TaN BSS pol ood Na ears ‘tconeialy aun rhe colegio tae lee entygyneree mere" oe conega boy cr be GhernreThecotgaricg maysecse at cestea _ |stbo| emuusresesnegerdst ye Ark oa ang iE aeterctee athechescercecstaa |" | imagenes toad nnaginge batmned oot eontine Coc, ve carl scones inepon se |_| Pcp tame wt ontsdnencece ‘Spee par o saparytelase cramer Aborto htt ees de Ste iigceo rte Cain, bose mayne bees pane oetn apne poral Company rested Rasa HAT RACSTEGATHEGY | RO Conca sue ST wa STR Tascone on in oouriatono wero peredar ‘tere noe dour mepencoen Imenoer ae tooysteusbeconsdces fe neepenent | | menos Hansponmt Bor ane meus etSetcaend Whenapsnene sonnets tscone | | eet tarntoren splay cis aon of cleat od) company au acne ‘era cones pena hee Ynen rir rarer clegi ny oe et meat ce ot frre cus o neporsren at ot hs Cate {onpan ral detest reson ornare ‘Spay eu testy actos wien nemtar oe ‘Stott anne tobe pendent ‘Stns ce a ts operas GAH —| RO] CSRS SS aS os TT ine Como tbe met teagan yet conpary |" | whereas ea dint repre ot ‘hod done ta enmsacnadeng pair pono e Monegan our are great Inenoee ie coupes tobe nesses Toes eretronrot een sqeci prc Aoey ener ‘tay afte nar etna tn hn ‘ening emo reer of ctene bo canbe peo oft nono fe cage Me ‘ovecreon ncependet wb ene Company Eonar Susreaurercepmactimerbestoravetter | | gong onunte ester frnacny anor ana Iparnce pases cannes ‘tbe iopenannt cans whan merous fre boss ‘rotrma te cio of nperees beara he Jes and iseyotn ners fe Marapee Boa arte aud com ner naepraecs TT Rea nO Ta SAGES EF] RA es Wags Soo We RET therwor a paneostonnta marinaeateclegs lar ronthe Geman ee tooy hey nayonrenmvewec onthe cormnyates |S‘CONSOLIDATED ANNUAL REPORT FOR THE YEAR ENDED 24 DECEMBER 207 [stenountn ven oweand Te wnses obras sae ‘rei WT dis and aia of eagle semen toda and protection af rete TROY WE GGT TADS SS ‘The comporate governance framawark shoud ensurepropr an tertve fanning ofthe coe body elect bythe ‘gerarafshuretoldr’ esting andthe poss granted othe calla body shold enero efocte mentoring lt tamale silthecomary's a ‘eang ater ue Pople reata athe ‘Steg Sey) anel rere ogy ardor of te conan’ lean! saement or econ ese "recta ots races ‘ipa manopaners boos an rrr acon he ‘srpan/s anager peromerts Maret Boa te Coney aye WITS Iateroson fe mpenertton of Corey satay of Sty, ay parent. Coresns rari se ators amedoy ee Hoss oe Company. Manage Bsr sur s he Gare Srsiere cig fews and pons regan Campy ‘Sus nant datenens hen te fe {EE Maras 5 i alg sud SETRGROT BA, {ithcoe ara espn tr te tora ana arate [ihe conpany se raat va ao ogo ‘esis employee arapubie wore. Inepanon ‘mons ote coogll beay sos (une ‘lemsanas naan ndperdees a ah ‘esonasng ard sors (0) dol weeks ze ay (Ghastted prises at gh conpanta eae [dependence empresa tess sos ‘roma enaer ut geoton ose cla Say garetts of company, Sul a coal oy ‘ve pcs scone noun memo has sus ‘eubi tetthe onber feud mane aoe ‘hen pe Soxisomian he ears nate soe Ihe cota toy aa corie ana neces "Rept company nots by tsi tarapehet oat tn ganda, wheat and raerraty fre Genel ene Comaany snd {Peto wn equa ihe sen of epoyees Shi pubic elre sbtng’n mina er nape ‘hang hoe dre "ER abe Nad AV RSA SANT ATT ‘bpetomne ais soa morrct he cola’ ogy Each ‘embe’ clpa soa salt ha peceedons ‘iat of he (npr ny crecoipsnes mae ‘Srmponunn san arma ay oo ter reper ‘emaes of tes a ronoa ae clap hy ne rents mane he catego shosabe tein as ‘tara hs neecirge ce colpa tea towgtent Be trond yr ft cape. art ear, ae Sar Se pop thy aceve oka porn a retngs fe Mangere ar ard roe elidel earths romans oe ues a manta clea So, “4 Where cect of clap tO ay hve = GPRS ‘hoc ontecrpanys ruratlios, be oli bo) {hes ea at oat para ara or ends ‘Stave bal snes se apy homes on he Sect d inte Tie cope sonachee see ‘Sttoleed let enoer oe alg boy wher ‘Sontag strane conmmngia sro alegre Caan aes Ta SSSA ‘at ogo at ehoser a he Cmpany Fegutton sf ware! Manager Sr Spee ftilaapiren Bose pore e he Gores Sharerlar etn ross nonce eye ost ‘Genoa Shenae eng eave tau Croan ng acods aty we prong tuncors senor foe, Aces of Aossaton sl ense Sumeoers Ming nagement Soo prams aes srs tepals Gens Saher Mesing wns ‘nd saan ian ni agenn oh mest, Hager Sort separ poco neal {clint tnenosl ater nd peste ‘Serovton or Geno Sorat: esting Sonston Tana RATER Da NT ea deta ation veo cried hen cargout esi al coco) Fate olga prenatal nto Poy oxo os tre conpanys rarogenot shou seen spose th cotsaa bog Ta acs concer soporte. ‘recten shai bs ened etna any pone ie rajry of ia epencen member the oe boy Feliwig g iano Wo TH Mag BT, roca Conary s orpoyes. marr he Irapenen Soe, sara hor rsd ‘ono Rese cosy reed she frmansoned forties he conser rd sare he ‘Maraponen Sass Rapuosn spect tha ren ot Seheaerentoad een fan Pe weno{alamantsavein hous TL unaes chara sae "1ST agi bay ston we naspenasn pasa Secionnat are aghcsrr he campy = operators at tor Tate sexual be clog oy ene ve ‘cert the compare anaouert oes Martens he clea tony ra ct ond ps deen went ot {unde nes fem he pase wee Sloe ‘Compar shoud ensue tne ag bdy ae ‘Srrmitane ae peed wh suftcentaaminctae ard ‘Rona sous dace De dee, elodng Pe ht ‘Battan orate engayes of he cpa a he ‘ecuaay rman ro sea panceepel ‘SScunung oay ane vce on ass parang Ne ‘Srpctrea th eng by oe comme. ‘Wunagana Soaa snaspece wha ning (eclnalag roast on Concur act eat [Stag Mente te tengerart Gears ey pow wna esostse nara fo acne dies Conon: pnyene oe mower oa Ite hom ato repaty dachrpetor ates soe ‘rodeonmanrsoraning ber compos “Raia we CEH TT ETTRTTNS ‘ramet veep embers hese oy uk Fave pr ere nce area wie carne ‘Ssuorae coir etre am vey pn Such east ‘Stas argh risor a muse Svomman pons aorirs averinaton areca tenneraian ‘Srabarto and asscesnentoconpenys cust Theatre ‘torte mentonas aun atretblta he competence ‘fie categl boy tin exmenened tah ale boy Se il reir rn aa ‘tule ot norman sorunemon, ard mse Somes re caran oe owevertny may ssc 0 frm hse tore ag soup moe bce commitees Iven ses corpany shoud xin in dea score tena eeton terse soa! ard haw re ‘State sporoom coma wh he acts st oth Farts deen comico Saudi colgal boy ef be _Sirenyeanpras smal mimber omer, he eons ‘Signet oe veo carmiane may to posorns ye ‘Sopa voy tet proud not mses omosson ‘egurenents avec ere coins are at com.ta ‘ematon proves nthe resect nsuch cate rovlons ‘Tas Goo Sarg oh care toast tego oy uct th rapt ote, pean, ne erepureny shu apply where eat tote cole ea esa wat agar ard ena me mateo ta ong ietermras ees, ie onan ot Theecoyrrtnrere con ter oneeyment ‘Rpustare monster mr ane poste pests, 118 ty obpaie dhe Senne TT ‘tc ae ose na essa ahs ap rg nat (Stes we tes cl natea coir crises. Corton $a eset cog boy wi rconrerasion {chverng fe Coctons oS calega boy Neves the nal ceca shal be oped ie clape oad. The "Reaneansaon on reson canes stead Gremoreite matey coed fom he pntewal be ele aay all wc emane ly reparation ‘eto ikon dat ooops 45. Commies eoabistd bythe ele boy aT Termaty be corcosed cet trea mene i ‘nse tom maepedon manors te claps 09) iresserunerne can sioae ctu wey compited ol navoxecuve doce Charmaran art menor of ie conmsess hou be ‘hades wih de regurta Be roan anawe tal corse ‘tiie oe Wun nce rps ana santas it aroun te intcusan Tunes chars nt) "$i Ray of ac te eames aa ‘ivastone oof pat ot lomstonGedosod by ‘Reconpany ennai on scoot governance sucres ‘re pracen) Capra shou abo kept aly @ [terortoyexoing omtecn on hr cogoton tran scivine Astor sha coat ‘ne th be naapandencs tha at posmeet erron bret heaton tas aero eh ie ‘CFT nf pare pence ae parila oe ‘connec, menos of te shal oy tar ne FRenbe’ che conmies shoud corner Rove aft Farts ne reenter edo Feconmte. Aconmise oy eves demand Fertopaion nha nosing paar cers gets ‘Dann avec conmuraton win me snsrchate Eves wn sich se be pane shoud be speedo be raguabene corms ashes 4.121. Key unctns othe natin cree soul be aretong soe a ocormar, rb promo coli nay cheat sor ears nonror {Sree sno wae oor a oe ‘Scooarurcoon ne matapemert bey ponte {itor once, ad ernest ne conan xpodee, nnotencormee can urs esc creer ‘eros ib caps boy Sees erences “evar onrepuar bss sri, se, conpaston ang petomarc ofa soeviany siomerapen aces 3 Fake emrimencatore oe cago ony eprera ne Rea of leg recat ere. “hetero regu ba testa eee ar ‘onan ew dei ep on he ‘shegl boy “Pepe ceteris se succor ring: {Rete eye mangers snlon 423 Nomen ce aoe gi Seek ceeierttrcerummenetee subintemeny morosepes Seen Geeta SE Seasons ‘Capen Tos cee oT anaton er NETS (ed connioe nce! Po uncon a he erABSANITAS {slsmoure rein veo unbes chart sae feptntre torre suey TERE reciting cane Beceem re Seine ereeiemcmerues Seccreeematemesn ean So cervensteme peeeenaen a Seana nentenrecnes Eiiigarimenaaateeetcn Eacaecemcamenapaae See rece cietemerina ner Serene Name eee eee cece ceeees iseetececsecramoae Saieret eerearrmaar ae Scores emereeae etn Se See eens ecoraeemeers Sey oeomaen tomas Eoreecereneeaeames eee cn ea. See eae ae Eigen ao mncesamarnnomntd Se newman peneesanarcn eae Feces mageeeeren Pincers nearer 4.132. Win respect snoop and oer sharated incetnes nt oy be iaaaio orcs oar ‘ese the cite srl Cle arr atey requiring a be sbove ‘menaned Seed nfo Enc onan ake Sy Flt popcae no cofoga bay ‘sare fe eatosiromatin ht gen the onpanys ora pot ara coxumers mena he se ‘Sing tm surenasee mesg ‘Me props oe Cag oay eardng ne ice {pone paca sees seria ono 4.133, Upon esouton of suns blot emir of rmanaraion stash Smits ‘ous ereet otaee te caren on cms 9) ‘rine remusorstone chet excave treo o manne To" Tiss Seniesa orang oo ‘Grams ctw connie cromuneobo cabana be companAp sana. scutes hae Te une herent) £441 Koy tune ote ec comme shal be ‘aloo Ober testy of fracalinternton roves by ‘heecrparynpareia 0 oveng ho lone ne (ratrey of he sceurtra rates ues bye coat ‘Salts gous (rckag isctonaor te crstoston of ‘Seoure otconpanssin be ge "Aaa one yor eve saa ira excl ‘sak anager sensu tay at hate ot ‘Reta lon wih compe wh extagen ‘apatara are pone etieg manages an rfecain [Retiomaton gone ‘Ensure eieroy of eae! aust incon, anorg ‘ther tga by mang rearmercaten ane secon poner epson’ an fanaa hehe ne ‘rl ust deparman anon fe bus fe carmen, fy montane espenivenee he anegeret lewis auttcormestanions Shoe bee es Bt atorty te company. he rene oe tule ‘eueaos sian oy ‘That recanmeesons the cle sted wey ‘Sloe, apotenen reapponimert ag amcil a e ‘oral ual: to ba tray fe gaara ares ectng) an wit te ee ah ear of Sr The care hus ena stations at Pe ergnaon rn sua snpay ost ada ‘Recreation n tenure contin tach sumo, ‘tortor asperdence and rpaay fe eat ar. ‘parry revenge ust corns soranos wet ‘pple guarentee Sud pares ‘Meteo eo aby te company. ana sr see Ft ‘tal prevert otena teal carts of tafest He ‘Stereos pdt cgay othe ‘Sawa sven Hswrg ogee crepe ss [canes comsisoa'n he yobs Conmason Resemmansnn 2020 the commas thous ‘strive aa eppy fal oly enbichng yes of ran ‘Sit covees ratte) ore) perma nh ae ‘Seer conten pte ou ra Reade ers ata and ‘eecaral usiorsmarapenen eer 442A manbare ot corte sas bs fib mn {emolsnomatin on pater ein. area ‘doar oat ta compar. campary 2 ‘unogenent stele be ual corm of be ‘eno uae osx fr nant nu ‘Sitar wee neering Setmur ray gan Steer appenstes Insuoveneenapesn coaetor ‘ous sven corpanys prams nfthore cor: {eorscboscomea au eeu specs ppc weaes | sgsnestens| and tiesto sah opr To | Congas i dt conmiaa Retains we | mart tetas‘CONSOLIDATED ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2107 it pours re oad Tes ai sad TS TR SoS SAE neiptonst hs crams ha clean sy et ‘Steet oof conpany chet nec fer or Stperorenpoyasin cars aren, asi an ‘eure rena ond orl suis nt Pte ‘Fe corm seta (reared, en). Te ‘mice sud be eed whey ned eet ah ny ‘sora pon wot earre secre ond arate ‘Hemanagenen bodes reser 4.444, tra ane atrocity atom afecve wing ester win Manaparert bat {cow fo orcas to cael bay Form pupose inna eames abe pnt co pon 4245, The au comin shoud be ome of nema htr= wor pre, a sus ries wih ra ‘Nats reports: poo sunmares The wl comes ‘oul seg be miomed ofa wor pean ot hoe ator and shou te umined wt pon soso tetris baer te npanaet ua anh ‘Sean sts pcp. The eames. be ey fvanelbiomatn on alaesaasng bom etl 44348. the set conmtes shoud amine nt De “anwar foeving spol provetore ogg he feoty fr enpoyeetoteper sage opi Frege te coun, by way ofan ou) sronyaussubmsiora (ray nner marr sla colegal nay, and haus rae hal hoes © otecre eases poner und naepencet eStore ser lone “4147, te aut conmites sol report ons ches to ‘he otagalaony teat omnes org me me $e ort and hago Semen Be sere. ‘12 eve ra colega boys ence! e__] Wo | Galaga bye goae cnt scone TS Seveement sis actter, The ateosmert sete mouse onesie ee ‘taluston ef cotegal boys src won eraneaton ont ‘Site acess peu, erstonat oat he clega ey omar and cormoae'sconpetace ane wore ‘Stary dares wate elias Sd coi race nous ot rman sreualy Sloat one ragga scares Stapraien| especive iomatanon fs tea! ‘fgaisten an waren poceden, rd act wht (steal chon wote mada oe areata secssantot ‘Re cotpabeay ots own econaasanias {sous stn nova une ohana ts} ‘nip W Tho woking procedure oe coma iat aios ‘The waking procedure of uperory and management bodes established ithe company should ensue efflant spsttion of fess tod and doctslonaiang a encourege, tie co-aperton bewoun th companys boss ‘pameng tang cnsenednsdvanes oder ao ‘Sito io fr proper posses te ies one ‘soonas fh mestng mctoenere onl Secu ans ‘2eplon of people desora nga wh eet ‘Scultn naaing bing camera lle documents ‘eval eens one gens ees shoud [oan tthe mental coe age Spondaal thermo sen at bo caboed ‘Brploneriad coe he meing tniow a rebar oe ‘hogal boy sre penetrance goat Ingonane the company equ need esaton ‘ithe company soparveny sng masgoratSosee | Yer |The laragonen Sor qovened yf pendent TH (fotatr tts Pete ne caren edepal tones smowge ate prescoaty recre of fanaa ‘Seer ta he cola aes 2 seis ae Beat ay he to mera a to anaomat Bead fShegol boss of management auc be cae by shel to renca oe prtar cing Serenata oltaetsces Theresa afacatsl | | Roguaton wor ae Mager Sow sperbas hat ‘ns epont for sroparcomoznonat he clogs Pendent har aca ats aive he cer of oar ey moetnge. Tho charperen oud ensue {tenmurentSenr'rempertosonste Manager ‘iotaten soothe mot ty convened anets Bra mostos, abether sedan papa oes of ‘pena a sonmuncaieat9amsnane tte aay Tre | | Re tasenecl ne Wensgener oar an oe" "oste ‘pesca a colaga bnystelerawe cepts ‘hcamov et soporte resorebi perce a endings he nesnga oth legal bed The ‘pas hon The pose’ ofthe eagarere Soar ‘ampemcr ana ena ra and ning nase {ton ts at ee Conoary ino try Manager ‘engine mening. Boat mecng a pe in» pssst ge aman Sto e ages The rage Board eden as ‘gies denen seteat om comm zr ‘hora he oganeator of Horegenen boat's Saiyan camera ‘EAs ReSTTTORd TI oe canpeys | VOW | Remain i ark a WRG TaNS wpe ‘alepa oa aud bs coed ut arora oe ‘etm oe laraperen Sere cea oth cane test dase hor oten 9 comene, {Rov is arsed Norogonen Baa ad 12 asian hecinge se alg bodes, ba tisrcommaraeainat | | 207, ee Seatge hoot come ouch rea fi ‘fous gusaras an tore esa ‘Sry gpvorancssauor asin he corny Sperry board sould be comer atta nce ns ‘Saad conan ew au ae testes 5.3 Menbar a5 CTGGaI EO aDOUT aE Hea abs | YES | RERRANS Oa SO TT NSSPST BSE SSS snovofnemayrers wn a ‘pat reiar sonore in opted inter omar {iar pesenty nee sou Manogoven Boa ‘toning earn trea be esague: Gab tar {Bon Sdoye to retng Tne nos en Be Managemort ‘Boag mesg fsb Nove te, andecten oe Imosingab lsc raf oe ade Evy mera he ‘eragenartboatd an ead abo Campaty canal ‘Seo! quatre pena one presi he ignated matic here uso ‘oor hate gt wsensippeian cc exe [Rioters tan coy rene manta ‘Spores mraaraearmesnge oe enanerent ‘sor, elon Sear on tne be ‘Seenoeain he Managem Sead met ee rates ‘Secucns sno fe arbors ba nape, ‘Sard ynepresden cl Manaperare ar utter ‘Sond aejeu bemecing Merb athe onegurent Bare rhode to decuts an enon rs ‘athe agen rmake deco eda ‘hore wor ret propel ested eee ‘Rapegcby oh monbes oe Waregeme't Bos andCONSOLIDATED ANNUAL REPORT FOR THE YEAR ENDED 91 DECEMER 207 {at snoune we fesard LT anes ofriss sed? Ea ager om achat putin ae companys [06 fotugl bates angers tonne Sonor nating ‘ronson cnarpavone ft compans conga nas ot ‘perio ane managoment sue coe corer) ‘etcouranaing ate ste meng, er opens ond fesoveg oa tae cf ear govaren. Merbae ol IReconpanys tone shasdse asia senses the conpany’ ssperiry ose epoca wae anes Socermgronil fete pee eyo Cap na Tw ema ieee onr ae ape arapenek alle VE The equlable SURG STEPS are ‘ne corporate governance framework shoul sure the equal treatment shareholders, using minorsy and {orsign shachator The corporis govern a poe it of th hails Gi hit ecinmeded tne company reaninshead | Yee | Companys skis cai sro ina TOFD Carat ono he mars at en he ane rhs ‘Sores garage tassios er hs ‘etna. owners, cere anaeer tate aa 2 vesnisended Fat eins soi Nave axes | Vos | Capary avs Rie wvmurcenars Dives we ‘he evomatan conan nwa atacen ine save | | nue raw peeouny msvosenre oie tre rew ssc eres sod eariern aeares Ie Frspecuseonrevty need stare rslaton {Storey ure she. ‘re velobe n Concoty swotpae, Compas aa 5 Tanai tal st pSTTIO HE ERAT ARTIS [RS] wc axostah a he area eae san Sorcery, exsnat fans Feet are edge ‘Stara of noma waneacane cube be fe ineconpan eset or any ta ype ol reurorancs {tnt of onvoce equa sopra be Gora ‘eucbesijes apr ole goers Sarerooes! Sharbedes tein Ineclng Al sree chu te rishos wi eau atany samara wih an rtp ne Saawor Spprondotaruotaetaes a sboete Sense Pacers of conn oa concing @genens | Ves | atin a pease Gata Shas ‘horshelarsestng shoud enue ea oppor or Ihe storcere 0 etext parca she mosis tesa net pps te Yt anderece f ‘otal the vue cle afte Stealer sing shunt ere tensa f ‘Reshonacer Pertotshowmacts masing. ‘apa suetier apd ranogere toes sue habe be sereraser ology ustons ovens one {erste lsh mero ae ergs soar a romatoal yet of Vins ‘cated Mfcen of hosacton, etnge Se usy ‘vated abe ana bushes ay ans lace ola shariser cou fav pacts tates thee lef he mening sol entra 10 (yea te most, pene or nquasie en 1 rocornenca Sa SOSA Fe CaS gota shreoniey mecing reading ah eats ‘Reman shou bs poss en Mo puby zeae \elateaf ia conga sverce second hat ‘Remnaescrine awa shravers macy ater ‘png en ee sone eusore shoud be ao (lead on pe sczentc wenn he copay, [Serge enwethe ei tec omar {be bvoratan wherer lense cosets redo ‘le recormerdatonsrousbe pushed Ersh arabe ‘Sher fry bnguapes. Decent fred we ‘Rcarmerosoor ray fo lene on fe puvey ‘Seon reat af he compar Me ter hat inating o hese Senate shat deren athe ‘Sra rt aap comriavtacet at ‘sea pny pt ar wt pa 8 Sheiodes Hava tiated wih Pe porary ‘ebwonte Shucoliee sous nt epterertea Ton piinveroaganennyeattna heat ans Sarees cn eal Hat Taw Sia Gena Shri Mestrg ete personaly oevaugh {towing ear ue ts canton We enter ‘ing crested Company ame racers ‘sispuetonty toe Hing general aCCONSOUOATED ANNUAL REPORT FOR THE YEAR ENDED 91 DECEMBER 207 TT Wig iano noah re BET ‘prunes opments eosin trae, ‘Rasa tn emperors mpd se {firogan cole vong reese ty sowing Te tid gusrancte taste compenen cogs tarsh [Scherer ecpecly rage, wih be poet [Bwatsh serene mecings by nese orosen (2 ‘Tpit a Campy rad nana a cop Fs econmevdelan tecaune hates ate or ‘Preraders andy sual rai aw ot fd for srceraivs oad Goer! ‘Sarre Meug oro eaing er ee asonce theTom of et vty Bae, [Peni Wi Ti aaa of Cons TOT ARE cave ‘Th coponte governance framework should encourage member of he corps tas to avid cote of erst ns ature wanepuron snd ofacive mechan of slur of confit of erst oprsing meron fhe enue ee | Se SEE anita |" peinetteeevemae |" | ere iemtemereas Eegoieciroctmamaat | |iurcuesm ghia EigeyWemeycaremyarmme | | Scmeccrechveeinanetaaste Gieiumenieenermrens | | Sanernmaneamacna™ ian Surgemenmmayeiee | |meatatamennen mes saviecemmanser: | |iSieeshememcreess nme ee eae seaman eis SENT meee [ve eee iameonmeaa Soe ee Caaaion « |™|secemmeammemens ssyieeaeentyerices™ || a came curators ce Boeecicey ereietatnn| | gavommmecets isekagry tar Ehecieicheneme| |Peemenmecmmmre, Boemcrotsiemwatoren | | Sean manasa oecscaeratay ieeitmmenacemnay | | Eumeeumrameweemewna ete Sg eermmeoreg [=] om Sea eae seearrieaea aceite Selec eterno, Hecceuirteareraigs eae eee mecoromeacte Reseed eye eigenen Ragienarstiarermeatnas” Sentgeswanacentias Sesacincomtena cae Se eo eS ‘eregemart boys oan fa ving ue ‘este corcargtarcctene ote uae of fmeorardian peti, beens ey a oar wh the rowel th ccs wel a tie ‘eednmendron Poowrg remiss oo NensgunentSows mars ote arene Bord ie Fetenabe loots wren Bore moe matrg 2 ‘Eeabr on her lity esos operon ates ‘nln V Companys remuneration plley ‘Remuneration poy an procedure forspprova, revision and lose of areca remuneration etabishe inthe ‘ompary shoud prevent pteatl cnt fees ana rosea ndtorinng remanarton of decors in agony ‘Solid aura publ and wansereney bot of compa Tt Reampary shoul Mata pole salar oP fmpenys onotasen iy feat he ‘Smumctsn sneer) Ths Sater! sald bp ‘Resongan' snr! sours Remsen aon ‘Souci be forted nb company was i oar doc a pepre pate sores ne POE] ‘tramurtrtan br somten on payee mess iano argent oman serena ‘real ep wich ae placed ot Carpe wanpoge‘CONSOLIDATED ANNUAL REFORT FOR THE YEAR ENDED 31 DECEMBER 2107 ees nein sand wae vse aed) ‘Tz Remus see ou pay ea on [Wo] Sen commana Gace 87, ‘eer rerueranon pee rh low Yar anf ‘Scoops the mberqent youre hasan sould ‘reas sua of te mpenerston fhe Ferureran poly in pevovs aca! ou Spode) ‘Stanton shoudl be gon vary epuheae ange ey euneaon ply acon th pos See PEE dere mecn me me ero eomerameee ioegmramn secemanenies ee Tee eena minaret eer RE ey onto Saeeeoarees ESCs ee EE amen jae cree eee eae SESE etree ema ieoeemeeat geen Secarieaeeoeaes Sareea aren eee, Serre oneness (see Se ea ee Eon ernoaeee Seems esae ae Sea ewrmrarraes tn, ited inacmeegiet ee oT sesrotee gear Spiess Steet ew etre rmeeented Meeoentoceesaetetneee ae iam‘CONSOLIDATED ANNUAL REPORT FOR THE YEAR ENDED 21 DECEMBER 2407 enn an son’ UT uns aia Sted) SS See |= poetics erat seen ahaa sere Seemche Gates Sipmaicueaerrtatas ranean EES eee mame Oar Riuiiedentestoaenm Sra ssa oy Figneteshttsrat ee ney sachets echent SSS fin gow Reece mere tener peta enorscres Seas ney Ser cece reer Repeaeheeectone ee gecomene deareteen nea ag Coun canes = lacmetanemnemovet cess ance ee a eats EE ccna amas ton Sear ere es Senet Rivet Seen dette grant ey aay eames ra See Sian Teens ewe cergte LET Soetesheeteart nc See e eee FREES queen mens eee ue eer oes Seite mentees ‘Restos sitchen PP Sea eeieer eee Spee ceae occ ee Seton iecneremare “See eat nar eRe erie armas Smerscoe acerca sean ean Ree sates anatmiorite Seance cette Saccmomcaree ls Sei commencess ienuaniteeses ‘angen aries wiomaton on a anor aTE ‘trae ares of emanate, trees ae oer retainer ona mame ofthe manages by (Manag b Frcs Secor overtones ‘Cups bein a ana ep,AB sauras {stamens aren hound nae hansen ste ‘a Saanas aicpatng emuraaion Tareaarah ‘Shar, stare eptna ety ta tho ucone res rts mata on fe Cass of tae po nevomae ‘eal be sete por sofa af saree ‘Srval grea mesing by way es esoon ror oor ‘Stopton, he opravl of schane tobe raked wih re Scores apa rot toa pent suc serena) ‘Senet ureert savera onde arose A ‘Spent changes ectmepovscrs oud seo be SthectioStrcotes spe peo Bt atorton ‘rove avai sho bemadcin srelaes sua! {Bera meungInauc ete strmocers shou ans ra of sugared crages = ean the shaeicers armel gral esi "Geant! taretares schemes Pett shave open, 2 reser “Steminaon of menu number othe nanan ‘enten ef share rong ‘eter win whehopions co b xo 1h eenaone ror ary aasonen change ne xeos2 heap poms yaw “ileberlngreinsante ober or wich eco becigole are whch son roan oer orsyees {Fe Sempany une amiartrme Arnos general meseng ‘Seal as ete desire wenn whch re bos ‘Ropero rear f aac may ara ‘rooastons lsegn fs ode eal ooo8 ron one rps sungoeia ctoe [Stn tong sesso beset sppTEy Pie Shea ee o means Ae estes alow, any ecard pon arangemet der ‘heh any nase gent svoebo cna at | [es lous fe arr ve fea rating on SRodayol tape catrmnaten, othe vray af ‘stolen ovo arambe’ dey reccang he Sle than eroraue pce stern: deo ‘a he sharers spre ait Prison of ees ana 80 Hoare Sopeaie tw cheosshowngfor gop under Sor coniora company oye oenayes of ny sutelauyconpery shane enpoyes re gb fete he shar as ten trie ies Sica ie ae rcarare Sire mame Soe isons meerinaene tree Pee eer Semi eeenreans ara Seearicromiceen eee Seeaenteoes tars tne Soran cee eae Seopoeecenesatare chee aeeneerane Saco emimeate, pe ioe marneucoesemmerts imertteer reenter Span uacien cn Se cote eo er Eosucoeemestennast ides ecameaertinmns a Cy ay SS a ERT ea Ent apuasol ie sick omen fo lhe Conary sie aeoc she ages Cenera Sheol Hing wasn pe on 36 A S00 dye ble the Geral sharers Mosig srareholoe wre ven Erenparns eget fmiar hfe era fe Genre Stas Modtrgs reseuten Gane Sates Haina spre tock anton pan whic intense er the Cotostysamaloyere. Anata the pn re ‘Soe tC ae he arerar Bos ‘arable sean Crpoyens ewe {prone phen, eine shen apa e gon, ‘Soca epene fr tr omooyee:Istana sein housond snes en tts ne TT incorporate governance The corporate gowinancs ramework shuld recognize he rights of shales stable by aw and encourage Telvecoopensonbstwces companies snd satehser in Seating th comeny vie, jbs snd fem ‘samt. Forth purpose tl Prine, the concept stkahadera” neler investor, employees, ced, uppers cen oc comma and ter persons having cram inet nthe company coaernes 1 he cpa poerance Vancvonsnead secure aie | Yr ‘gua sakenld tre ptoses yaw orarpoed, 132 The coppers averianes Faron na Sea COE lure tatehouea to pret nce goveraten nthe ‘Mamet reste by fw Examples of ncuron [Totesscergamopeton'n pure govmance et: ‘Stloeepartegetnn scot of en edocs re, Srrpany_eonutng wobec cncrpoe gover sme Ser erent epee pecown he cngy 3 Wine ssieaer toe n Te apa gaa [poco hey auc hve some rvs fom Congas ranasersn san ree TES Fes tater aeetrifaged his Sipe a peer Conve frvpeesfabur uno) ont metal ese opts, clei ered rean hve ged geenets wth Conger, somcevats fetomare afin cxgaion ono te Esrouys eats At meal ana sot rat toute Comes ennai potlly [Srlake povsedte operas of sakanacere haere Prine ntrmaton dctsu ad vansarency Infomation regarding the company, melding the rane staston ‘The corporate povemancs ramawork shold arse ta aly and accurnte clowur sade onal tori) res and goverancs ote ompany, “Pearly he i fomenipsrincotaot ck ‘tle fe carey’ nprany ond renarovntioses, ver treeanns ore, Soler ranscbnw conde caste nechaned aa ‘Samonye rogue omens ‘bea ase regorcg erloens and aber staal “Sevemance scion a pxogy “hile ste dosnad a8 amin rconmndston wns ‘Metonpanes ve enregesrarolnt horsches ‘Ssconureot be hemetonopeteg Wat (jeup a wich hs cpa bolas sou te ncn whan ‘Ss psec ef Recanctnaion 6 ee 10.3. secon me oman on he poesonl ‘Sicigtuna quafieaore ct mamoer ot server ard ‘Sanapenert bea est exes erate corny sos De dconed on wal pte cofic eres at may have ‘tates onthe acne whan nlamaion ected th a ‘Recosnencten 10 abou be renters fe ear ‘pewuny ond raragenont ond cer deserre ie 30 ‘sEanennds at srepion to he aso ennaaon ‘Rees ton ts company archer eae sels be asco ‘streaesia nanaus company ney me vironments vest ‘he congany and ete nung enyeen Cesta, ‘bo, conmanty sea sth y= ply a ‘agua oman ecoures enpoje atepmton sete he ‘emars haecaptal vs thous be dsosed wt Inloematan space m ton? 3 ecommenason 106 user 1 The canpury Stal astos Ploafon "ei ] orate ae Conny stra est ‘heer an peg fete Be cry ‘ceanmendstors sated on Conperye Cee jee ‘tcbae, a vi st otnge orate ‘eer res memes =‘CONSOLIDATED ANNUAL REPORT FOR THE YEAR ENDED 31 OECEMBER 2107 {ptanosriew nawsand Tr ulus wens TO Hera ae SAT Saha way far shgertea nt ese re imine ath (Rgwete ne monroe sepacfoeaentctomstan Inrnaionstocsbe gasses tna emutansay. ‘teammenae hat taco abot mena eves su be {round str ta aon seasce onthe Virus ‘Sock Berane. ale companys shane at ‘esr hve equ acess oe Yomaton snd ‘Mak wero ewestg econ ve any eR SSRN BAUS lvomatén Lruaae ant Engen ean edo optam of Vrs tos Brctarge Va Sc Esctange les infomation ant wetgage sn ‘Soe sen ern marca nova Ffomston oreo ate ary sen én ne Soot exhuge ard peers termtanesusy oat ‘mats rea n companys soc rman ‘Bonpetvay ae ofmrangprea aed eae at ‘Stee ye Corpany mis conmeni, neve oy ‘the ents org soe ype! Momsion wet iby emosned tin loro sa Vis tock, Ecanae [ors eee armor omar treme Sn Selanne Soe nema etna aetna, Seiten caesar are Eaiisoeser ese at ve Compa stares Sy and ae ea aaa aa ames o watage arn 17 Ti recone hat he copan/s maa {nd abe paca aceursneparesoy be Smpary ‘ald ced ante campy swat Ifaeaten soot mater: ems ae sooo ih re {fins companys snare on ba St xeangs one ‘Capa coos a TERRE ‘Sraincrg al amaten engrarea nine ‘Seanmerdalon on Company watpage Prieipo Xi The Sledlon We CORSRT = ROBOT ondlosion a open, soul noire ndgenence of he fm of aor's ST Anus 365 of San SRT TSA ‘rep sho te conned yon aaron fat idle ators povue an etinal engobectne onan tite companys fanan amemarts We Tape oT aa PRET SRST Wa fara tar Te pry hate 112 ie acre a Ne CanpSD/ EROS apis so maa mae Fs Gana ‘Staanaeresing by Companys Marogerent Boa. 13 Ka correo Tae cgay SaaS flor orrar sua anceas erro ps eomoany, ‘his tartan shale oo row oe companys per tour an wet tod ha ‘Span boar pan hr eortsaten wie ot ‘Suds pons or he gor Biron mac, ‘Rovner soar, Wa ota peea ‘Company a otfsian nt ore pu mot ‘iio at rc noncust sevens. The Nanogen ‘Stor peansinornnn canes ninco ‘Se Genera Srohoveshoorg oberg na urAB SANITAS ‘CONSOLIDATED ANO COMPANT'S FINANCIAL STATEMENTS FOR THE YEAR ENDED31 DECEMBER 2057, (Gtenourta we nmousend Cr ues chee Sod) General information Board of Directors Dari Subis (Cnaeman oho Boss) Uae Vt se i at rons tie Hees Csnave Sau elas (Gone mano) We Nero cents Registered office and company code pay ce 194 36288 Bankers 8 Banas Hanesbanoe ‘8 Sem pane fs Sonoo rtas fei Be Fina Pc rian tnch Tas Lesh Yea nora rao sear Peeso oe Bint Zamocn BK 88 (ORO vracroare ‘fanaa Taoreipertr os Keretacen Bar Aurtor UAB re & Young Bae Sttetini 7 Vins ‘The tnancalterents wee pore ard sigredby he manapaent are beet dec on 12 sch 208, Nanagenent Te ee EEE ‘cena rare ‘Castrol fens ‘caving oo Law on Compote oe Repo Ler, he ret foal enemas pepre yo Hagomar ae suoraed by i Geeral Sarat reg. Thu srwelsrs db one kta Boor the ‘al anda stoners anh glist re rasan Steno be preparedi Ernst & YOUNG Independent nuditors" report tothe shareholders of AB Sanitas ‘cpa nani Snes Weave med he aeompaming 207 orc stereo AB Saris pu ined iy cnpay exited in he ‘Repu outs beater the Company) nthe cote nc shee of Sais ra eco {lo which compris te bans secs mo 5 Deemer, th crf change sya cn Roe ‘he yeartten ended and motes comprising 9 say of significant asouingpce td ee explant nos). angen Repo forthe Financ Statements ‘Tae Cony’ maragenen reponse he apron a fh sei se Fons semen stance ‘si saa! ii Repoing Sedaris ope ye Esa Unie apna codes Sane Implementing nr ona rt th prensa aster ar ee tra msn water a oF or crossing an soba pope oan pals ed ang ‘ecru estimates csmotanes tudes ‘sess exes en oplion ca these aan semen sed on ca si We occ our a in acdaice ‘th otratanal Sands oe Auda st oth ran ere Acura Tnae ads rea ‘ean whic rec ln np ncn sn swt a aes, ‘A sali ines prtoming procedures a beaut evens ro an dls athe Finacial seas ‘Teprousire sete depen on te i's ue iin he srs the ks of nar! tet fhe Tani saumens, nhc duo fuser Inmaking tse sk ans he ui: Ses nao lear {othe ens penton an pesto fe fitanll eet oer © sig at ras reine tte cheonstncs bt a the pone of xorcis pion nthe tvs oh ons neal eal el boli Cin ie preps Fe sta eons of og ia ey ‘manager wea lang th cv procntat of i fant scents Wereloe rhe sul evidence weve obi i cin and apap vi i foo opinion. Opinion ‘aur opion, he aosnpaning Sinn statenens presen fy, nl mnerirepcs te acl postion of AB Sans sath Goo abo 3 Dcembe 20, an th nl pee di he fr thea en ene AS ‘ih nal Fins poring Sunda, as ope the Esropes Un. ushers we hve ea he osoiated Anu Rep ete ere 31 Dae 207 hve oe ay ra ‘tcnsneniesbeoen hal iran ined dhe ancl somes he yen ended 3 Dent 00 UAB ERNST & YOUNG AALTIC Anson . Ate Joba Abels Ramones Bsog ‘nr scene ‘ular eee Nev oe fo. 000362Consolidated and parent Company's financial statementsa saniTas ENOLDATED Ab COMPANY FINANCIAL STATEMENTS FORTHE YEAR EXOEO 38 DECEMBER 207 {etonouns we itmsand LT unene Share Sa Income statements oes ‘rou company —200__a008__007_ 008 _ ‘some 3 asso teu7z) aoe ae Contos 4 assez (e599) _r7.3sq_(15 786) res prot ‘eset 7eoe2 Rss 16558 beritcome s room 15740 2aar ass Sing ae dtibutonexpnsas 6 cszm (sao) Airave expeees 5 ess Garr) 93s) (a) Ober epee cass (1038 ee 5 Operating profit war 2ars 708 80 Fsncsincone 7 pars sao tsa. Fancecous 7 ar7o0 8359 es) az Prof oe) btore tx Sar (11S7=) 1885. cone nx eapense ® a 401s __ ene) 107) otro ose) 2 7339 usm 10501 De sosantes ering fos pets ai ™ . 1m aanpe sanras (Glamour ntesand TL unos oheras sec) Balance sheets assers Non-coront assote Prope, pnt andequbment banat asses best subiaren Prped inconetae ‘ave eaabiee es Deteresoaes| (cate cash ats Noncurrent assets chested a hel for Tota ascot 10 2 rou pasta esata veosor 27939 waasy 3220 2 Bs iss209aoa724 att 0? coast 5308 67s 3182 422 se anaes ieao02 _ am yeossa_rasaso fe tat he att sot rr90 = 210 ssaoss 107 3 mre pe see ass a8 is 778 + @ 27 2 750 a saya (consent asta)(aarounsueh fowand (i wies cher sad) Balance sheets (cont'd) EQUITY ANO LABILTIES uly share capa Share premium Logatresove ber teens etn eninge Teta eguty Fane ase obigatons Doferodtaeabity Defer nam Fon sites Protons ‘Total noncurret abies Ccument ibiies ‘cure porton of roncurert ans ‘curator ofr caer rari aso ‘ciasore core are Trade ae er payables arenes reves rere poate Total curent abies oa uty ane abies Notes ‘a 0 0 Group company pests heatst —Aeatat estat mor snes” “zou anes 2eaoss ass 8s am 3a aa are mam 3ai9 s20s__15.06 1409 s410 Jenn Mose ana ar219 woes rear wrens 15300, sea? 61a 687 390 6202 if nwo essst amas cusses s05s00 rs 2618 sz 2s 007 as user aa seer ara so 470 a = 19023900 i 54 iar tase resyse __rasaso seam satse2Ap sanrras {ettmounie re intone Lunes Sars 3). ‘Statements of changes in equity, Share Shaye Legal far value Transition Retained Group apis1_promium ress ‘arone” resem” earings Tota Datinceaeat 34 Oscember2005_14000 17556 jab oz) 15562321 sae00 les fone (Noe 18) maios mans 2aa6 Trarsoredtoeewve a0 ~ 1a) veel fir va tev (Noe 12) 2 aoe 2 aoe CChageintansaonresane Seana an Natt ese ges = 7338) 7539 “otal iname anoxpene forthe or a es ‘changeinvanaton sere = 4 mos = asst Note be ear Dot sng90 37250 Teta come an expense forthe "er = asst s7as0 ss2s1 since seat 2tDecenbee2007 406 Bunge gu] = sao ease Shae Share Lopal_Falrvalue Retained ‘company captal__premium _asere_"fonrve™_Somings_Tota stance a8 at 21 Bacon 2005 +1000 amass sor uni) agro 2.2 Issn of sare cs (ote 18) 00s 200882 - - ee Trenterio map ere = 130 ono, earl fra reser Na 12), : aot - aoe omer ye : - = togss sweet “Total income a enpence or the 4 . ; ee ‘tance se at 31 Dscamber2008 sea er zs z a + 16529 1628 alone as at. Dscamber2i07 iG ONESAB SAnAs (Gtamours en tous LTL une oes ee) Cash flow statements We tom gg ee seme a ee cee cent See aye mma eae eee ed eee om om aim 9 peace ee a or Sacco : 2 8 «a 8 cy mee i = aoe : ut oa penta 1" a, ot, rr sn 8 eine ute ag te ee ee = cream omalcrencnect oo mann eee. secon vp gaa} Sonneoaee "Ses coaece ga MS ann om EEEeTlen memory Gh —F — 98 — coh veto a mine proletariat (Sionicmamecemooe FES GES ES Someta cc fete * = Soesiecaan 2 ae) ES Eeeeeneneae ia ee as al (eon on tot 290)onsouokteo a courytrs FANG. STATEMENTS FOR TH YEAR NOD 1 DECEMBER 207 {etenourmarein nan Tiss cree sae) Cash flow statements (cont'd) a a so am eh toi in Sone : men ae reece ree ve Raa cern samosas cee etre fit ise Grn ero ae are aoe “oan Gag aay mareao des cum een ee car “ue ge Se echt a ra sn an dors ac See Cegetcemaem tote ae aaa ‘or . * 6 43883 44,506 207 2a Supplemental formation of eazh le: Prey pth equemen asain hares tncs are err 2828 on utA SAnITAS (alamoura sn anon uns oes te) Notes to the financial statements ener ntormaton ‘8 Senta barat Copan publ ably conpary eteadin ne Repub of wan en 50 Jina 18 The estas fs tepoared ose sow ue ave 9 ‘Tne Canpay nave in posucten ad deo gore macs, rare nsten prepares, bes, capsules, {bri sluons as onnets The Gongs ses te se heat Man Listen Seirus Sek Eachege ‘As at 31 Decamber 2007 are 200 the sharon the Company we sharers share ls Ftousand)_Pereantaps thousand) Parcontage porate oem 347% ame 3H DB valerate capanas ane pate mows re 20% as7 190% Ont eet ential so 708% 22m rome Herwatare (Ceo cine Sor teaee ime Gon ener Say__zeoen oan ‘om : ES Bs : : ix Sh IS Shoe 6 BSR ey oe So — [BERS ae ae ee : Be og w ME ae = 3 : 8 oe om a4 a7 : = ee ee tain pn Eee, eae coer Se Oe comms taTiche “Tam vee am ae ‘a 0 2S a RE REE ert ned ae os = [18 2a 8 De Uralocatod a sg : : : = ai a a ea aa ©ONGOLIDATEO AND couPaNes PRANGIAL STATEMENTS FORTHE YEAR ENDED 21 DECEMBER 2087 Enrloyes bets epee: amounts of LL 48488 usar angLT. 232 howe ra yer 2007 (LiLSh S28 head and 2.20 tae tere ys 2000 Pav ow reuced Ml fa costo es the Gas {noite Gonpan/eincame semen specie 5 oterincome Rect and enone a0 at = om Gain on csp of agate nacre ase! aye am ant over 4a0 3007 ma oo 6740, gun wa -§n2000 me men anu of gon posal tang rn cr ase reeset he ga of asset ao [uta ahinoabe Sones Proj Pome deta ose Ne 78 eae © Operating expenses ‘Seting and leibton expenses Marita srvess a ‘Wages sles, coal secant an ter expose ene ‘cneres ersey (226) (28) sever wos) GMs) 7) 81) “ranepraton epee ee cee 8) a) maraston en are) eH Deprecaton Rea (1260) oe mee sips eas) 880) : Busress eps a) on one san eon, 5) (waz) a0) (2908) eso) ‘Wages, sae an saat sacl (20m) (246490) HE) Consutg ender sar seas wes) (509 5H) a) Deproceton (14s) (35500) 8) to overtones quam gag) a) ‘ange aowancs or verores (rs) ss (98) Recunearey a Ei ‘mertaston eof, 09) Provision or Carhyrancate xe ss ° Changeinenpiyer tarpon 43 (085) : Chengeinatowonceferecsales am 950 a ee 2m ena) __ oom gern san) pays) oan) esta tec) e016) (13230) (07a) 8ap santas ‘CONSOLIDATED AND COMPANY'S FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECENGER 2007 _folimours sen Pasa utes ors et Income (expense) rom nance aces, net Income rom Snel aes snd tom ste Farin euneny enanae oh Cain an espas ot mvesnert to Clash ‘verdes ard pnaties (er merit reone Exponsos om rani ates: ret epancs) Forsign crney erage ts (tr and! losers) Income tax expenses ‘ura yoar neo tx Por year caren nme taccoreon Detoretaxinoame (mse Company 207 tone a : esa 3ea 2as amr ae) is = 20s 40 isa aso ein 466) (sm 406) ecm “ry ey as) sa) “won case “eo ir) (835) gas 2) Te aC cro Company oor" zaos__noor 2008 ete) ans sem) ee) * @ ® oo 207 sy as? heome x erperie) came caged tincme starert_yuae) _g043_ pon.‘CONSOLIDATED AND COMPANY'S FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2007 suns wen veel urea chen see) 1 Income tax (cont), Deter tx ots ses stale tel agarat aeons incre mes 10870 : Proper) nt anequamer 714 6000 nos Reosnatos a om sat Inverts aoe 2 0 Dexuale so ae ve Provion tee 1501 zs Deford tx eset store alten atowance eas zoaco 07007 Les: vaiton aowanoe ys ox __en sa) Deteradincans tar atl nat 70069 10.00, ose Deter tax aity Prope, plant nd eaupment 28) (0308) : age sue (ast) ats) : oper 2) Deter nce ily sig 99 = Detereainage tar ase Sit er ested 9% an 1% rates. Movererts prt component temporary sites re Gauge cons Balance eat Recogrised in Batsnce ae at SHesember “income,” Recognised Curency SH Desamoar ‘00 etswmort_"inaguty”—efeer” * S3sar ravoss cary fone 5108 sare sean 4152s Proper et ana equpmer asset ss 204 ee Proper, pantandequemeriotty 4225) (800) (3968) ora) nang oes (25098) ze = thee) are) Recnace 2a «3 : oe 3287 pesvale 3408, (20) : 1 2805 Inweres axe. 1 : ss 24a Prosi 86 2 : aaa Ober assets 5057 02 : yaa ‘bv abies 5 506 : (oH 011 "Tamora teers tle vation ‘lone 2.02 ena eer ayaa Ls vaustenatowance a 200 429) oat), Teta enpoary erence 15.002 4388 : rae Deterrent 207 ons - nem aaA sana. ‘CONSOLIDATED ANO COwPANY'S FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2007 unis an owas nee mens Sa 8 Income tae cont) ‘Tre laos fabs cay fred oat 1 December 207 can be cana 201. Cory a lowe ercup company Prot baer income tk sane (nam 1835 20a Texoaklt taonytcrt* Be ae) ae 20 Tecnon-eauie cers coe) Gee) at) es (Ceagein wowace ret tx nase 2026, 70 820 “onions cary fre id zm 5 5 Cacton apr ear erent neo ta “ 6 : . Changoin tect ey __ 105 i 08 Income x exgenee cuted nena state a6 aon) aoe 87 Forth Group — 18%, rte Company — 16% n 2007 ar 1% 2008, 3 Exnings pr share aac ming pt sare arn ected ding et prot fx heyea staan ety hers of ‘evel be wepiod rae nombnel wean ste attrcoy aay Be oa ‘or ned 8 ™ ‘ne otowng rte ne cae nd char dl ued ne bala ed earings pr sere compulsions oe Gras ie ro ee) sz (738) Wegted average rnber ors shares oun) si06__23725 args oss paren LT) 120034 The wep ease nant fat rr heya ene 31 Dest 2007 equal he mba of Sry tater ar 31 Doamoer 207 asthe ahr epi dna change 2007 “pe cledaon of wotsd average rnbe of rr shares esa re yoar ons 31 Doce 2008 as te ‘ws Por m1 Januey 20081 4 Moy 2006 (14 98) 11000 Poni or 15 2008 31 Doce 200823 rs) 3108 Divison ware ot oases 2007 a 005‘CONSOLIDATED AND COMPAN'S FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 DECEMBER 2047 [stamoune we tsa ues chavs ss) 10 Property, antane equipmont mat IEEE commen croup Land ute eect ‘inprogese” Tot stream at 31 Docembe: 2005, to 26386 soe 2am agra Aeqlstonct subsiday Jes SA smo mess? oor ar 27ea azz oer edatens < 2a TST 2am S815 ‘ae - % - 190 Dispel ard wre of ee en Fora exchange aserce to ge sa Bo "oo 982 Bares a at 34 Cecember 06 oer eas 9S 180m sae ‘tone a “anaes rom he forse esto . - ‘sport and wane 0550) 80) OBT) 7382) Fea achange ilrerce 2M 7st TOS 1.88 sa 1be3e Redanseione en. - 2 ‘Accumulated seprectaton: once a3 Deco 2005 soe uo ae = 10206 argo eye 5 som 1517 aa 2 ae “Fania bom fon cure zeta 2 ow 8 Disposal nc wrt 2) aya = ag Foreign xargs erence oe ae Ge > sa ‘Ssrca ar at 31 December 205 406 ess0 aaa =a Charges year 123078 B80 7a kpanic re fs ~ (2) on) + ain opin exctnge ence ws “gates, ‘nase Safncs neat Docrr 207 72585 Tse Netbook aie ae at31 December 2007 4207134602 _to02t1__ 17.028 Netbook value a at 31 Decanbur 208 "4158 1z7,651 105162 19.385 _ve008 273.100a SANITAS PMSOUDATED AN COMPANY'S FRANCIAL STATEMENTS FOR THE YEAR ENDED St DECEMBER 2007 10 Property, plant and quipmor (ont) AMacieey company ut Joment seats aprewane’ Tet cost: nce a 31 Oka 095 sar wea fos asr)oaaa stone “63 m 3881 ate pons nd wie os oO 6 9, = aon Recesstcatons rt ar aoe at 31 December 2003 | oii__taosr sear atone 6 ms 280 aya Tarte tom tists sats te “ Depot and wrtects a) @ ex Doce a tt Oxcanter 207 47 Te aera Balan a at 1 Crconber 225 are ny = 10 ‘haere ear 8 zee v0 2 Gis Dios nd wrt = isa 5. an Aaanceas at 34 December 2008 3 wre “8 = tea Grae re year air ‘98 "ete Deposa and wtecfs zs rs a 2a BSeenoe st 3t Cece 207 aaa os eT et book vate a at 31 December oF ars soso sos Net bo vate a t 31 December "08 —— i ___ _sosr_iris ‘he dereciaton care oe Gris nae Cay spat, antenseaupinent rhe yar 2007 anu te {LTL35.354 ound and T1044 cused apecay (rhe ya 2008 epee, 20 bea on LILEe8 masa Aono LIL 48s thavead ane TL bar yor 200 (L227 foward {IL hoa he ys 2008 have aeons mo open epmens Ite Grup ate Gaps bone torent spectre, The nating enous hae tren neues pods Sore oar, ‘Prepay, lan and equa oe Group an he Company wth nod ae of 251 840 tous a {S136 fr sand reece a a 31 Decor 2097 Te 298004 hoarand ra LL 3.6 raven 231 camber 2005] vas lege bars os cts rh ba Note ‘roponyplantan esprthe Gourd ha Company wih an acquion cst of LT. 52.635 noua sn {IL 12 G8 hse eeocivey ete ly aeaned a 38 Ono 207 fsa 1 Deora 2008 respec 08 eusand nd LTC Yai hse wor al ceea santas CONSOLIDATED ANO COMPANY'S FINANCIAL STATEMENTS FOR THE YEAR ENDED 2 DECEMBER 207 10 Proper, plant and equipment (conte) ‘st 91 Deanne’ 207 aug and tb Company hos comment puchesa mace fot Cres aseinonsend nee 12871 Pome epee Ger 208). ‘Barong cost nce he Gre ante Conary a ceptalee oe amuiston, anectonopeducten aa ‘syste arcane Leo hovsonc aS Hes Mouse apvey Ryo 5007 Ce So hess ‘ra TL 25 owns respecte rh ys 208) 4 200 he captaton ae eos eens he ana c rowing est ler cptasin bye Grows an the Congany war (ee m2 11 mange assets croup Gocowit crane Tota Salnce a at st Oscenbe 2005, te 002 1.300 oqucton of etsy Joa SA, ware aire soz see (eer asians 20s se 2800 ‘spor ar woe z aoe o os) Foregnavcrare terence ao a2 6 7860 Redassfcatens 0 eo " Bene sa 31 December 7008 wore s4s0____visgo___ saa asters 0088 33g Deposas and tote 2825) em en Forpn xing eerce 898 257 ee 2o705 ecatstesore a a2 Sainea a at 1 Oecember 2007 iia 2a Bayan Accumulated ameter aance ae a t Decade 2005 6. 206 oa Depa antec a 3) Foragnactaroe erence 2 “ 1 ‘aan aso Dace 2008 5 isa Sis8 Chage rne yo 368 | 20 ‘Saas Depa and wes 2 any 5) Foreign exchange erence z 2 ‘7. 60 Busco 2138 Oocember2007 5001 as ae Net soot value a at 31 Deemer 257 ene 3 250__ssaas7 Net 000k value a at 1 December 2006, ‘ogre saa asst 31202‘CONSOLIDATED ANO COMPANY'S FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEMBER 2007 (ona we n ousrdt Tt ues heres sah) 11 tango eset (cones) company Lucanees Software oat cont ‘Salnce at 21Dacanber 2005 Me me eo aseone 3 ° 8 Sports 3, a) 9) ‘sine a 31 Dacebe 2008 36 60 ‘adtone 2 97 Dipole ts 9 es ‘Balance a 31 Decabe 2007 318 ‘tne a 31 Deca 2005 ‘26 8 a“ Charge foe yor C7 6 @ Biot i 0 ra} ‘sine a 591 Daca 2008, "es ze 0 Charge torte yr o 2 76 Dipole a 1 " ‘Batre a 31 Dace 2007 23 zm 05 Netbook vu a at 31 Decanter 2007 5 «© au Netook valu at 31 December 2006, 18 2 20, ‘Te Gee end ne Corgan have LT 2871 wousndand LT 100 usin realy genet range see 36 {3154 Docher 00r fava st Socanbu Zit), The amatsan carga! be Grae ena fe Caren ‘range arse rt or 207 aroun L605 tenon nT 70 hesardeepactvy (re ea 006 ‘mepssney (ILA Vow ard LT 62 houand), Amour T3270 hoard ns TL Tothewsonsta he osr200 {1987 sana oT. 82 Mocara et 200] hve ben Petes peeing eneaon EeGrapt anche cages mre sent psy ernaroyanaucs tne nena Par of ren cunt ashe a: of Groupee ne Geman wit he aemiton ae of LL 214 hoveard SdLTL tS tauron rape a6 3 3 Dssonbr207 wae uy arose TL 810 awed na TTL28 thous empestny a a3" Coser 2005 Suwa tue soasioant sin af co “Tele nd anaes troup fa 8. anes connatn has en alate io oe Jee S.A [pom lta SA sigueton rata nanan nee capt smstre oh Geoup ate Saqastan The Conpany i obpstog ukoo ts ity rato nets ten 5 share ap snp ye Law on Carganes Repco! Uiana There wo he ce eamaly gated capa feguroms at rou an he onvany ‘ne Group mont cap using EBITDA ran aio ras, The Gul curanty esr hi blow 40 Bogert caw a0 the rn eer no enc hses ng mon St a own eng 2%. elaed pat tansztons ‘Te artes econ ld whan cr pry fa the possiy carota oer oe erhave Spies inuencs Garth oe partyin making cal on obs deseo 19 207 are 2008 ne Cargany he anaconda wane lig sed par A rl (he snare ne Comey Ua Nenana he sarod ef be Compan Hoes iota a theese of he Camay) dele SA the subarea Camy) AG Atena (he sbi ote Company “uns rea (refouny moun es UAB sia Real at, te fie of ld) “AS inate Corerton Management he alate o i ‘UAB Latinos Satna Prot he it cf AB “emma condoning wi ses ares Cuisansng plnces tho yosr-od re unsure, ete cet etd blow a solemn occ nea £202 iar. re aretn ro howe ond ts my unpre sa hg yo ona: Desa 207 te Cg has ate ay panaon or aubhsals en eas nay alte ae, Ts doa dot nearness ar nana aug seine te, {al baton eae arty an hema munca ere a oes‘CONSOLIDATED ANO COMPANY'S FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2007 fl aroun ve euard Tansee Shares Sd 28 Rotate pay wansacons (conte) ‘Te Gps ne Compan’ arsacions i td pares 2007 wes yea en baaness were 2 ows Saucto —Purchiss Amounts Amount rested ‘ron fwedy —_owedto iow _parles _rlaedguriea rut patos rite pares ‘Te Companys transactions osc tents 2 s 02 = ams ‘sie SA 5 oom toe 1a ae as sane ) A ‘ee ey “he Company's and the Group's tarectons AB vas 15 8 Ful rosa 20 : ‘ a Vanes. : 4 : [URS Latnein Sens Preeti) : oo : a Un nea Es & ‘The Compan tansaion win rese partes 2008 ad rate your bsances wer as oh ‘wha fron ‘one ‘oneal sows ates __rnnwganies ols paras rid pres Hosstat Bi, 2 78 61 10 naa ‘nts SA 5 7307 2 aie ‘est ts ateana 3 * oe am a rests 0 19390 : 8 8 Varese, * : : Unie Coco Ua nt ea Ete : ma : 8 URGLSrasioe Soria Poet 6) au 245 ‘The Gro vanecion win rates ures 42005 rst oscar aoa wa Saleio —Puctases Amounts nous Notes Parise __rolatedparios iste parles elt prion pa vata - 1" : 22) UAB Nenscrons : 288 as rut Pros 9 2060 1581 Uns nia Coston - . anagamer ~ - ae at zs 2ra ; 196 jaca ° 21087 au A 28 Bis 24064 i we9 AN COMPANY'S NANGIAL STATEMENTS FOR TE EAR ENDED DECEMBER 207 28 Relates party wansactons cont) 2) tn October 2005 Host ats. proviso nan wt i he et eo he Conary amounting {ica towne The oastaring out at 3 Orconbu 200 LT 670 housara eat Doster ‘2ht6 LT. TOara recon), Themen cleo he yur 200 Tate haan fr jet 2008 {teas osano Newco s 1 pone predic rhe Conary a price esos eon and hsm stvoss. 20? te Catoory puchates posers fossa and sans fez hesana (2005 phase ol posune srantos oie 250 we pchaoe el sanons arming EL Stoarng) ) Ding 2008 Company hs ero ono Jn A, wih wae eid ent este subsidy "hare bane wae aed wth reves The auianang aro re bare pronase © ESA eS cs wen ze ea bats Renters Ny mer 9 Othe 90 we ‘leu rh yaa 200 TL 8 2 Roa for yar 2008 LUT 43 wean) The adsang arco ‘eeatewe fortbeanacay samt Ose fat 1s nd Cee 2) During 2008 Jats A proved loathe Canary win hoa eet ta. The en wae rapa! ing 207, ‘he usancng snout ss ti Decor 205 oe LIL 2697 ou. nyo 006 a SA races ‘branes pay ihe Gerpany rowing il 3500 Dosa 200 yur Company sluio the Pssh fait the aaeacing smut pera a =) Deans 20 LIL Se aula. Testes cf acts [Data SA ding a 200 soured OL B56 hasan rp oor 2005 ETL oe Woutane) The ‘eran sms ot papa ceed was elie wts erent tanto oa 19) UAB Aisana provid» nanta he Company wh lr as. A a 31 caer 207 te rein ‘oe anole esas haan aS Onconaar 2056 CT Te una Thee wes oy eed wih Gives near LIL 698 Round ©) 12008 be Company prcates ta 8 chats om AB Fl Fina rhe aout L829 nove. Te sucess fool oe eon eta Sn 20 cman thereupon ite pay wos Ett ere thowore aa Lit 68 ausaa repartee The conmacon safe sung te eos he (Company shaven 20 wae 108s host 2008 UA ison su ett nurs om he Camry blo nd eon rel eat to {Uk Lakrelos Berto Preea ne amma 27 0F mower at De opal acy re Compay Teed parc trees fry tr on Tho oi tenor year 200 wa Lo ousai fo yee 2 — Giesittonnd reutungpeebe anor ant Gwe 07 wee Tt aa 51 Deextoer 280i 2 ong) ‘Ramunercn othe menannnan an nesses “The manager ranunraton coin ny shot aloes Det Tha Gays endihe Company's ‘mmagenertromurerston anourd 1oLTL 2086 Rovond ard LIL Tez usar 257 (TC 708 aad an {TUto eeara 000), rhe Grup and te Gonpanys megane aurany fee 007 sound 1 So etd eta canna or rymece anwar tesa (LiL261 Doman 200 rhe Groups sate Cpa meager ware zie etoaly. 2007 ae £05 ne argue ore Grup and be Conpany a acne any be or gusts rote payne er rope rarsars ware mater acne ”