POLYMER INSTITUTE BRNO

Business Results 2004

PROFIT AND LOSS ACCOUNT 2004

	Planned	Fixed
	in CZK mil
Research & Technical Services	47.00	49.21
Pilot Production Revenues	81.00	87.11
Miscellaneous Revenues	10.90	9.04
Revenues from Merchandise	32.00	51.65
Total Revenues	170.90	197.01

Raw Material Costs	47.60	51.30
Overhead Material Costs	5.00	5.12
Personal Costs	48.00	48.00
Depreciation	8.50	8.78
Energy Consumption	3.00	2.90
Services	18.50	19.44
Taxes and Fees	0.20	0.15
Operating & Financial Expenses	3.00	5.48
Merchandise Sold	27.50	46.23
Total Costs	161.30	187.40

Gross Profit	9.60	9.61
Net Profit	8.00	7.66

BALANCE SHEET as at December 31, 2004				in TCZK
	TOTAL ASSETS			138 635
I.	Fixed Assets	1.	Buildings	14 369
		2.	Instruments and Equipment	27 068
		3.	Land	11 829
		4.	Other Fixed Assets	1 202
		5.	Total Tangible Assets	54 468
		6.	Software	739
		7.	Total Intangible Assets	739
	Total Fixed Assets			55 207

II.	Current Assets	1.	Inventories	31 775
		2.	Account Receivable	26 914
		3.	Advancements to Suppliers	1 177
		4.	Financial Assets	23 562
	Total Current Assets			83 428

	TOTAL LIABILITIES			138 635
I.	Capital	1.	Net Worth	97 000
		2.	Reserve Fund	8 752
		3.	Undivided Profit	7 659
	Total Capital			113 411

II.	Sources of Credit	1.	Accounts Payable	14 334
		2.	Payment Obligations to Employees	4 448
		3.	Salary Taxes	3 105
		4.	Other Liabilities	3 337
	Total Sources of Credit			25 224