| POLISH SECURITIES AND EXCHANGE COMMISSION | |
| | | | UNI - EN REPORT No | 83 | / | 2006 | | | |
| Date of issue: | 2006-11-09 | | | | | | | | |
| Short name of the issuer | | | | | | | |
| BCHEM | |
| Subject | | | | | | | | | | |
| Skrócone sprawozdanie z działalności BorsodChem Nyrt. za trzy kwartały 2006 r., sporządzone na potrzeby Giełdy Papierów Wartościowych | |
| Official market - legal basis | | | | | | |
| Art. 56 ust. 1 pkt 2 Ustawy o ofercie - informacje bieżące i okresowe | |
| Unofficial market - legal basis | | | | | |
| Contents of the report: | | | | | | | | |
| BorsodChem Nyrt. Short Business Report for Q1-3 2006 as Prepared for the Stock Exchange BorsodChem Nyrt. has prepared its Short Business Report for Q1-3 2006 based on consolidated figures as per the International Financial Reporting Standards (IFRS). The data in the Short Business Report are not audited. The data in the Report correspond to the actual facts and do not conceal any of them that are significant from the perspective of the Company’s assessment by the capital markets. On the basis of the international accounting definition IFRIC 4 (definition of leased assets) having come into effect as of January 1, 2006, the carbon monoxide, hydrogen and steam supply contracts of BorsodChem are interpreted as financial leasing. Accordingly, plants operated under such contracts appear among the Company’s property, plant and equipment as leased assets while the discounted present value of retainer fees appears among liabilities. In the analysis section we give details on how the contracts recognized as financial lease by IFRIC 4 effect balance sheet and profitability. For the sake of comparability, base figures have also been corrected. Summary 1. BorsodChem Group’s sales revenue in Q1-3 2006 was HUF 177.3 billion, or 38.1% up compared to the base partly due to expanded capacities and partly due to exchange rates supporting export and basically favourable market tendencies. Q3 sales revenues however lag behind the performance of the previous quarter, which is primarily due to the scheduled maintenance shutdown executed in the quarter. 2. Operating profit was in the neighbourhood of HUF 14.8 billion or 13.5% up compared to the base. EBIT margin is 8.3%. The shutdown reduced specific margins according to expectations. 3. Primary operational cash flow (EBITDA) shows a 24.4% increase relative to the base, nearing HUF 26.6 billion. EBITDA margin is 15.0 %, a value in line with industrial sector average. 4. Net income after minority interest amounts to HUF 4.6 billion, which is 45.1% of the base figure. The reason for the decrease thereof is attributed to the significant translation loss booked on foreign currency loans due to the weakening of Forint (HUF 4.9 billion). 5. As part of the completion of the previous three-year CAPEX cycle, the Company has spent HUF 20.7 billion on the procurement of tangible assets. _________________________ Full text /English version/ of BorsodChem Nyrt. Short Business Report for Q1-3 2006 is available in the annex to this Report: 20061109-SBR_BC_Nyrt-2006-Q3_eng.rtf / Pełna treść Skróconego sprawozdania z działalności BorsodChem Nyrt. za trzy kwartały 2006 r. /w języku angielskim/ zawarta jest w załączniku do niniejszego raportu: 20061109-SBR_BC_Nyrt-2006-Q3_eng.rtf Financial Highlith in English language is available in the annex to this report: 20061109-financial highlits_eng.rtf Najważniejsze dane w języku polskim obrazujące sytuację finansową Spółki są dostępne w pliku załącznika: 20061109-Wybrane dane finansowe_PL_2006 Q3.rtf _________________________ Raport ten został również opublikowany na Budapesztańskiej Giełdzie Papierów Wartościowych oraz na Londyńskiej Giełdzie Papierów Wartościowych. BorsodChem Nyrt. informuje, że pełny tekst skróconego sprawozdania z działalności BorsodChem Nyrt. za trzy kwartały 2006 r. w języku polskim zostanie opublikowany w możliwie najkrótszym czasie - jednak nie pó¼niej niż w terminie trzech tygodni od dnia dzisiejszego. János Illésy Dyrektor Finansowy odpowiedzialny za relacje inwestorskie | |
| Annexes | | | | | | | | | | |
| File | Description | |
| 20061109-SBR_BC-Nyrt-2006-Q3_eng.rtf | BorsodChem Nyrt. Short Business Report for Q1-3 2006. / Skrócone sprawozdanie z działalności BorsodChem Nyrt. za trzy kwartały 2006 r. | |
| 20061109-financial highlights_eng_2006 Q3.rtf | Financial Highlith - English version / Najważniejsze dane /w języku angielskim/ obrazujące sytuację finansową Spółki. | |
| 20061109-Wybrane dane finansowe_PL_2006 Q3.rtf | Financial Highlith - Polish version / Najważniejsze dane /w języku polskim/ obrazujące sytuację finansową Spółki. | |
