ANALYSIS OF BALANCE SHEET

Annual
Note Items
2,006 2,007 2,008 2,009 2,010
ASSETS

CURRENT ASSETS
cash and short term investments 265,010 471,872 475,431 480,418 749,782
Receivables 245,657 322,245 326,660 245,374 244,867
Total inventories 354,687 401,110 440,758 324,539 236,194
prepaod Expenses 0 0 0 0 0
other current assests 202,354 240,177 240,186 217,457 248,491
Total current assests 1,067,708 1,435,404 1,483,035 1,267,788 1,479,334
NON-CURRENT ASSETS
property/plant/equipment 541,289 588,048 601,110 588,959 565,849
Good will 3,105 942 857 791 1,212
Intengible assests 3,123 3,309 2,865 1,691 1,611
Long term investments 127,945 177,177 160,913 118,617 151,866
Note recievable 5,106 6,000 21,114 24,807 35,363
other long term assests 101,432 110,552 139,262 155,188 146,069
Total non current assests 782,000 886,028 926,121 890,053 901,970

TOTAL ASSETS 1,849,708 2,321,432 2,409,156 2,157,841 2,381,304

LIABILITIES & EQUITY

CURRENT LIABILITIES
Accounts payables 505,129 571,296 605,372 368,811 391,874
Accrude expenses 145,215 165,119 155,006 138,514 121,351
Note payable short term debt 126,115 167,234 189,068 399,010 221,320
Current port. Of LT. Debt/capital leases 801 1,090 7,321 44,047 39,616
Other current liabilities 196,358 228,667 210,026 134,737 159,750
Total current Liabilities 973,618 1,133,406 1,166,793 1,085,119 933,911
NON-CURRENT LIABILITIES
Total Long term Debts 71,594 238,308 254,265 252,732 286,079
Defferred Incom tax 9,196 8,335 7,972 5,385 3,299
Minorities intrest 93,562 114,448 124,285 103,482 137,774
Other liabilities 84,968 85,413 77,233 71,693 68,260
Total Non Currect Liabilities 259,320 446,504 463,755 433,292 495,412

TOTAL LIABILITIES 1,232,938 1,579,910 1,630,548 1,518,411 1,429,323

SHARE CAPITAL AND RESERVES

Common stock 120,210 120,210 120,210 120,210 134,803
Additional paid in capital 129,192 138,199 138,143 138,142 141,153
Retained earnings 573,516 642,969 717,357 735,337 750,357
Treasury stock-common -242,934 -219,875 -219,499 -241,878 -61
Unrealized gain (loss) 38,285 35,102 25,785 1,985 17,456
Other equity -1,499 24,917 -3,389 -114,364 -91,725
Total equity 616,770 741,522 778,607 639,432 951,983

TOTAL EQUITY AND LIABILITIES 1,849,708 2,321,432 2,409,155 2,157,843 2,381,306

V/O6 V/O7 V/O8 V/O9 V/O10 H/07 H/08 H/09 H/10

Moving Base Method

0.14 0.20 0.20 0.22 0.31 0.42 (0.03) 0.13 0.41

0.13 0.14 0.14 0.11 0.10 0.05 (0.02) (0.16) (0.10)
0.19 0.17 0.18 0.15 0.10 (0.10) 0.06 (0.18) (0.34)
0.00 0.00 0.00 0.00 0.00 (0.20) (0.04) 0.12 (0.09)
0.11 0.10 0.10 0.10 0.10 (0.05) (0.04) 0.01 0.04
0.58 0.62 0.62 0.59 0.62 0.07 (0.00) (0.05) 0.06

0.29 0.25 0.25 0.27 0.24 (0.13) (0.02) 0.09 (0.13)

0.00 0.00 0.00 0.00 0.00 (0.76) (0.12) 0.03 0.39

0.05 0.05 0.06 0.07 0.06 (0.13) 0.21 0.24 (0.15)

0.42 0.38 0.38 0.41 0.38 (0.10) 0.01 0.07 (0.08)

1.00 1.00 1.00 1.00 1.00 0.00 0.00 0.00 0.00

0.27 0.25 0.25 0.17 0.16 (0.10) 0.02 (0.32) (0.04)

0.00 0.00 0.00 0.02 0.02 0.08 5.47 5.72 (0.18)

0.11 0.10 0.09 0.06 0.07 (0.07) (0.11) (0.28) 0.07
0.53 0.49 0.48 0.50 0.39 (0.07) (0.01) 0.04 (0.22)
0.00 0.00 0.00 0.00 0.00 (0.28) (0.08) (0.25) (0.44)

0.14 0.19 0.19 0.20 0.21 0.37 0.00 0.04 0.04

0.67 0.68 0.68 0.70 0.60 0.02 (0.01) 0.04 (0.15)

0.00

0.07 0.06 0.06 0.06 0.06 (0.15) (0.04) 0.12 (0.07)

(0.13) (0.09) (0.09) (0.11) (0.00) (0.28) (0.04) 0.23 (1.00)

0.33 0.32 0.32 0.30 0.40 (0.04) 0.01 (0.08) 0.35

1.00 1.00 1.00 1.00 1.00 0.00 (0.00) 0.00 (0.00)

1 Day' s Sale in Receivables

2 Accounts Receivable Turnover
3 Accounts Receivable Turnover In Days
4 Day' s Sales in Inventory
5 Inventory Turnover
6 inventory Turnover in Days
 7 Operating Cycle
8 Working Capital
9 Current Ratio
10 Acid Test Ratio
11 Cash Ratio
12 Sale to Working Capital
13 Time Interest Earned
14 Fixed Charges Coverage
15 Debt Ratio
16 Debt/Equity Ratio
17 Debt to Tangible Net Worth Ratio
18 Net Profit Margin
19 Total Assest Turnover
20 Return On Assests
21 Operating Income Margin
22 Operating Assest Turnover
23 Return on Operating Assests
24 Sale to Fixed Assests
25 Return on Investment
26 Return on Total Equity
27 Return on Common Equity
28 Gross Profit Margin
29
30
31
32
33
34
35
 ANALYSIS OF INCOME STATEMENT

Annual Reports
SR Items
2,006.0 2,007.0 2,008.0 2,009.0 2,010.0
Revenue 2,746,453.0 3,163,669.0 3,502,419.0 3,004,888.0 2,469,063.0
Cost of revenue 2,032,732.0 2,378,742.0 2,631,880.0 2,315,958.0 1,881,772.0
Gross Profit 713,721.0 784,927.0 870,539.0 688,930.0 587,291.0
Selleng/Gen./Adm./Expenses 496,018.0 544,925.0 594,159.0 476,130.0 380,715.0
Research & Development 89,917.0 92,141.0 108,741.0 114,961.0 108,784.0
Depriciation & Amortization 14,237.0 15,850.0 19,204.0 21,490.0 18,873.0
Intrest expense - - - - -
Unusual expense 1,307.0 796.0 8,085.0 27,831.0 19.0
other oprating expense - - - - -
Profit From Operations 112,242.0 131,215.0 140,350.0 48,518.0 78,900.0
Intrest income - - - - -
Gain (loss) on sale of assests 715.0 (44.0) (16.0) 774.0 34.0
other incomes - 10,897.0 6,837.0 1,787.0
Other expense (1,792.0) (303.0) 0.0 0.0 -
Income before tax 111,165.0 130,868.0 151,231.0 56,129.0 80,721.0
Income tax. 39,826.0 44,333.0 53,368.0 39,999.0 40,260.0
Profit After Taxation 71,339.0 86,535.0 97,863.0 16,130.0 40,461.0
Minority Intrest (16,073.0) (19,391.0) (23,840.0) (12,676.0) (23,325.0)
Net Income 55,266.0 67,144.0 74,023.0 3,454.0 17,136.0
V/06 V/07 V/08 V/09 V/10 H/07 H/08 H/09 H/10

1.00 1.00 1.00 1.00 1.00 0.00 0.00 0.00 0.00

0.74 0.75 0.75 0.77 0.76 0.02 (0.00) 0.03 (0.01)
0.26 0.25 0.25 0.23 0.24 (0.05) 0.00 (0.08) 0.04
0.18 0.17 0.17 0.16 0.15 (0.05) (0.02) (0.07) (0.03)
0.03 0.03 0.03 0.04 0.04 (0.11) 0.07 0.23 0.15

0.04 0.04 0.04 0.02 0.03 0.01 (0.03) (0.60) 0.98

(0.00) (0.00) 0.00 0.00 0.00 (0.85) (1.00) 0.17 (1.00)

0.04 0.04 0.04 0.02 0.03 0.02 0.04 (0.57) 0.75
0.01 0.01 0.02 0.01 0.02 (0.03) 0.09 (0.13) 0.22
0.03 0.03 0.03 0.01 0.02 0.05 0.02 (0.81) 2.05
(0.01) (0.01) (0.01) (0.00) (0.01) 0.05 0.11 (0.38) 1.24
0.02 0.02 0.02 0.00 0.01 0.05 (0.00) (0.95) 5.04