MILESTONE TWO-----

Sheet1

EARTHWAY AD
Interim Financial Statements
30 June 2016
Interim Balance Sheet
Notes to the Interim Financial Statements
Notes			30 June	31 December	30 June
				2016	2015	2015
				$’000	$’000	$’000
Assets
Non-current assets
Property, plant and equipment				28 964	21 838	19 101
Investment property				1 130	1 170	1 214
Investments in subsidiaries				388 693	340 387	185 909
Investments in associates				45 670	18 767	18 052
Intangible assets				123	247	371
Long-term financial assets				1 245	19 510	17 699
Long-term receivables due from related parties				81 052	72 465	-
Long-term receivables				13 495	23 168	12 674
				560 372	497 552	255 020
Current assets
Inventories				143	155	296
Short-term receivables due from related parties				34 476	22 741	63 472
Short-term financial assets				5 394	11 742	2 517
Advance payments for purchase of financial instruments				-	61 289	-
Loans granted				113 062	76 191	5 107
Trade receivables				3 460	4 179	2 824
Other receivables				24 028	11 283	16 104
Cash and cash equivalents				85 653	92 845	30 455
				266 216	280 425	120 775
Total assets				826 588	777 977	375 795
Equity
Share capital				150 000	150 000	130 000
Share premium				232 343	232 343	32 925
Other reserves				6 735	6 834	7 119
Retained earnings				148 708	66 225	65 945
Net profit for the period				43 346	82 483	41 307
Total equity				581 132	537 885	277 296
Liabilities
Non-current liabilities
Long-term trade liabilities				-	864	2 470
Long-term bank loans				-	-	1 788
Finance lease liabilities				2 699	3 745	5 772
Long-term payables due to related parties				177 295	178 597	27 235
Deferred tax liabilities				-	-	539
				179 994	183 206	37 804
Current liabilities
Short-term payables due to related parties				40 752	12 405	35 548
Short-term bank loans				3 636	24 680	9 137
Loans received				4 332	4 962	-
Trade payables				7 846	8 367	3 102
Finance lease liabilities				1 488	1 620	2 477
Tax liabilities				1 948	567	6
Payables to employees and social security institutions				61	58	554
Other liabilities				5 399	4 227	9 871
				65 462	56 886	60 695
Total liabilities				245 456	240 092	98 499
Total equity and liabilities				826 588	777 977	375 795
Executive director:__________________
Date: ____________________
General Information
	EARTHWAY AD was registered as a joint-stock company at NewYork city court on 28 January 1999.
The main activity of the Company includes as follows:
Acquisition, management and sale of shares in Bulgarian and foreign companies;
Financing of companies in which interest is held;
Banking services, finance, insurance and life insurance, pension and health insurance;

&A

Page &P