CREDIT REPORT


© Coface Slovenija Credit Management Services d.o.o.
email: office@coface.si
11.12.2005 15:36

COMPANY REPORTED: LEK TOVARNA FARMACEVTSKIH IN KEMIČNIH IZDELKOV, D.D.
Principal Address:
VEROVŠKOVA 57
1000 LJUBLJANA
SLOVENIA
Tel: +386-1-580 21 11
Fax: +386-1-568 35 17
Email: info@lek.si
Internet: www.lek.si

National ID: 5043425
VAT number: 94471568

Information valid on: 11.12.2005

ESTABLISHED: 1964

REGISTRATION: No. 1/00253/00
1964
Ljubljana, SLOVENIA

LEGAL FORM: joint stock company

CAPITAL: SIT 11599056 Thousand

SHAREHOLDERS: Servipharm AG,c/o Novartis Pharma AG
REGISTRATION: SWITZERLAND
4056 Basel, Lichstrasse 35
Shareholder
EQUITY: 99%

OSTALI DELNIČARJI/ANDERE AKTIONERE/ OTHER SHAREHOLDERS
REGISTRATION: SLOVENIA
Shareholder
EQUITY: 1%

MANAGEMENT: METOD DRAGONJA - Manager

The company NOVARTIS from Ch became the major shareholder in November 2002

REPRESENTATION: Moskwa, Kiev, Warschaw, New York, Paris, RIGA etc

SUBJECT OF OPERATION: -production of medicines, chemicals, different chemical products, cosmetics

IMPORTS:
2001 WORLD
EUR 78 Million (approximately)
2000 WORLD
DEM 127,9 Million (approximately)
1999 WORLD
DEM 108 Million (approximately)
1998 WORLD
DEM 122 Million (approximately)
1997 WORLD
DEM 127 Million (approximately)

EXPORTS:
2001 WORLD
EUR 270 Million (approximately)
2000 WORLD
DEM 412 Million (approximately)
1999 WORLD
DEM 339 Million (approximately)
1998 WORLD
DEM 380 Million (approximately)
1997 WORLD
DEM 356 Million (approximately)

WORLD



USA,J,GB,RUS, Nigeria, D, PL, Lithuania, CRO, etc.

FINANCIALS:

Amounts shown in Slovenian Tolar (SIT) Thousand  2001 2000 1999 1998

PROFIT & LOSS
Turnover 75.033.303,00 60.610.726,00 51.857.007,00 52.940.901,00
Operating income 68.262.944,00 55.670.061,00 47.580.135,00 48.534.221,00
Net domestic sales 14.939.870,00 13.538.025,00 12.863.646,00 11.839.435,00
Net external sales 53.323.074,00 41.414.739,00 33.387.065,00 34.331.412,00
Total expenses 65.650.155,00 53.462.125,00 47.995.072,00 48.248.759,00
Operating expenses 60.936.760,00 49.821.931,00 43.922.992,00 44.964.504,00
Staff costs (employee costs) 16.234.383,00 13.304.597,00 11.281.328,00 11.561.044,00
Depreciation 4.861.317,00 4.889.002,00 4.736.725,00 6.034.204,00
Operating result - profit 8.042.045,00 5.848.130,00 3.657.143,00 3.569.717,00
Operating result - loss 0,00      
Profit tax 1.785.401,00 1.520.053,00 742.935,00 1.152.530,00
Profit of the year 7.597.747,00 5.628.548,00 3.119.673,00 3.539.612,00
Loss of the year 0,00 0,00 0,00  

BALANCE SHEET
ASSETS
FIXED ASSETS 42.160.574,00 35.380.317,00 32.441.090,00 28.474.401,00
Intangible assets 1.362.076,00 0,00 239.496,00 163.034,00
Tangible assets 28.017.341,00 24.216.287,00 22.998.726,00 22.666.975,00
Land and buildings 17.146.664,00 16.253.687,00 14.880.989,00 14.087.252,00
Long-term investments 9.219.214,00 8.602.648,00 7.020.637,00 5.641.436,00
CURRENT ASSETS 41.244.610,00 37.160.422,00 29.537.369,00 27.042.145,00
Inventory 10.297.154,00 9.867.692,00 7.375.545,00 7.748.892,00
Long-term receivables 14.143,00 15.618,00 15.079,00 17.798,00
Short-term receivables 16.960.497,00 13.318.517,00 11.710.913,00 10.592.943,00
TOTAL ASSETS 83.405.184,00 72.540.739,00 61.978.459,00 55.516.546,00

LIABILITIES
SHAREHOLDERS EQUITY 63.794.124,00 54.247.559,00 46.230.743,00 40.705.571,00
Called up share capital (issued capital stock) 11.599.056,00 11.599.056,00 11.599.056,00 11.599.056,00
Reserves 8.748.336,00 8.921.285,00 8.925.830,00 9.614.614,00
Long-term reserves 7.159.111,00 5.760.917,00 8.521.203,00 7.597.213,00
Long-term liabilities 113.862,00 1.165.902,00 138.121,00 418.311,00
Short-term liabilities 10.068.315,00 9.640.474,00 7.088.392,00 6.477.428,00
Accrued expenses 2.269.772,00 1.725.887,00 385.317,00 318.023,00
Total liabilities 83.405.184,00 72.540.739,00 61.978.459,00 55.516.546,00
Approximate exchange rates: 2001: 220,7453 SIT = 1 EUR
2001: 250,9458 SIT = 1 USD

RATE OF EXCHANGE: 2000: 105 SIT = 1 DEM
1999: 100 SIT = 1 DEM
1998: 94 SIT = 1 DEM

WORKFORCE:
2003 2002 2001 2000
2.580 2.411 2.409 2.409

LIABILITIES:
2001 2000 1999
SIT 10182177 Thousand SIT 10806376 Thousand SIT 7226513 Thousand

REAL ESTATE: The company has production facilities on diferent places: Ljubljana, Mengeš, Lipovci, Kranjska gora, Prevalje, Lendava, Ljubljana-Šiška,

RELATED FIRMS: Shareholder
HOTEL LEK, DEJAVNOST HOTELOV, D.O.O., KRANJSKA GORA
4280 KRANJSKA GORA, VRŠIŠKA CESTA 38
EQUITY: 100%

Shareholder
LEK KIEW
EQUITY: 100%

Shareholder
LEK BH SARAJEVO
EQUITY: 100%

Shareholder
LEK KOZMETIKA, PROIZVODNJA KOZMETIČNIH PROIZVODOV, D.O.O. LJUBLJANA
1000 LJUBLJANA, Verovškova 57
EQUITY: 100%

Shareholder
LEK PHARMA s.r.o. Praga
EQUITY: 100%

Shareholder
LEK PHARMACEUTICALS INC
EQUITY: 100%

Shareholder
LEK POLEN
EQUITY: 100%

Shareholder
LEK s.r.o.
821 02 Bratislava, Ružinovská 1
EQUITY: 100%

Shareholder
LEK SERVICES INC. us
EQUITY: 100%

Shareholder
LEK SOFIA
EQUITY: 100%

Shareholder
LEK ZAGREB prodaja farmaceutskih i kemijskih proizvoda, d.o.o.
EQUITY: 100%

Shareholder
LEK ZAO MOSKVA
EQUITY: 100%

Shareholder
Zakład Farmaceutyczny Argon S.A.
90-972 Łódź, ul. Sarnia 3/5
EQUITY: 100%

Daughter company
Lek Ljubljana Holding GmbH
EQUITY: 100%

Daughter company
LEK NS d.o.o.
Beograd
EQUITY: 100%

Daughter company
LEK PHARMA UK Ltd
EQUITY: 100%

Shareholder
LEK ASIA
EQUITY: 99,99%

Shareholder
LEK SKOPJE
EQUITY: 99,99%

Shareholder
LEK PHARMATECH SRL
4300 Targu Mures, jud. Mures, Livezeni 4
EQUITY: 90%

Shareholder
ČISTILNA NAPRAVA LENDAVA D.O.O.
EQUITY: 74,5%

Shareholder
LEKIS D.O.O. PODJETJE ZA RAČUNALNIŠKI INŽENIRING IN TRGOVINO
2000 MARIBOR, STROSSMAYERJEVA 26
EQUITY: 60%

Shareholder
TAYLEK DRUGS
EQUITY: 60%

Shareholder
BAYER PHARMA TOVARNA FARMACEVTSKIH IN KEMIČNIH IZDELKOV D.O.O. LJUBLJANA
1000 LJUBLJANA, CELOVŠKA 135
EQUITY: 51%

Shareholder
SanofiSynthelabo-Lek d.o.o. Ljubljana
EQUITY: 49%

Shareholder
KEMOFARMACIJA VELETRGOVINA ZA OSKRBO ZDRAVSTVA D.D. LJUBLJANA
1000 LJUBLJANA, CESTA NA BRDO 100
EQUITY: 31,4%

BANKERS: ABANKA D.D.LJUBLJANA - Account no. 05100-8000005424
1000 LJUBLJANA, SLOVENSKA CESTA 58

NOVA LJUBLJANSKA BANKA D.D., LJUBLJANA - Account no. 02923-0012224080
1000 LJUBLJANA, TRG REPUBLIKE 2

SKB BANKA D.D. LJUBLJANA - Account no. 03100-1005938988
1000 LJUBLJANA, AJDOVŠČINA 4


DATES: date of validity: 11.02.2003
date of last record maintenance: 11.02.2003

PAYMENT MORALE: 200: Active firm's payments are made using cash discounts or according to conditions.

CREDIT RATING: 150: Financial situation is very good.

DEBT COLLECTION: There is no record of any debt collection action by Coface Intercredit against this company

MAXIMUM CREDIT: EUR 2 Million

Maximum Credit is to be understood as the highest possible engagement for a supplier delivering goods or rendering services on open terms with an average respite of 60 days. (It is assumed that, on the average, the company in question has 5 suppliers, who deliver goods or render services at the same time.)



PAYMENT MORALE
CREDIT RATING
100-149
Payments are made very correctly.
Financial situation is excellent.
150-199
Payments are made correctly.
Financial situation is very good.
200-249
Payments are sometimes made using cash discounts or according to conditions.
Financial situation is good.
250-299
Payments are made within net agreements.
Financial situation is satisfactory.
300-349
As a rule payments are made on time according to conditions, in some cases there have been delays and reminders.
Financial situation is average.
350-399
Payments are made irregularly, sometimes according to agreements. In several cases reminders have been necessary.
Financial situation is average, increased use of external capital.
400-449
Payments are made very slowly.
Overall financial situation is still average.
450-499
Payments are made very slowly. collection procedures cannot be ruled out.
Financial situation is temporarily critical.
500-549
Payments are made very slowly, reminders are often necessary. There have also been collection procedures.
Financial situation is critical.
550-599
Payments are made very slowly. There have been frequent collection procedures.
Financial situation is very critical.
600-699
Payments are made extremely slowly. There have been frequent collection procedures.
High risk of bankruptcy.

End of document.