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Notes to the Financial Statements 153 42. INFORMATION ABOUT BUSINESS SEGMENTS 2008 Energy Rotary Industry Other Total for Communication Eliminations Company machines automation operations continuing (Discontinued) as a whole and and operations operations products services REVENUE --------------------------------------------------------------------(Rupees in ‘000)------------------------------------------------------------------- External sales 20,782,494 1,974,970 3,555,859 567,419 26,880,742 - . - . 26,880,742 Inter-segment sales 1,177,281 380,468 117,466 784,206 2,459,421 - . (2,459,421) - . Total revenue 21,959,775 2,355,438 3,673,325 1,351,625 29,340,163 - . (2,459,421) 26,880,742 RESULT Segment result 2,201,908 173,635 341,675 32,712 2,749,930 - . - . 2,749,930 Unallocated corporate expenses (200,761) 2,549,169 Interest expense (111,788) Interest income 126,822 Income tax (885,135) Profit for the year 1,679,068 Profit on sale of discontinued operations - net of income tax - . Profit for the year from discontinued operations - . Profit for the year from continuing operations 1,679,068 OTHER INFORMATION Capital expenditure 109,698 22,237 42,805 1,707 176,447 - . - . Depreciation and amortisation 86,837 17,449 33,995 14,256 152,537 - . - . Non-cash expenses other than depreciation and amortisation 887 410 220 69 1,586 - . - . ASSETS AND LIABILITIES Segment assets 13,839,386 1,517,220 1,928,789 639,723 17,925,118 - . - . 17,925,118 Unallocated corporate assets 6,850,264 Consolidated total assets 24,775,382 Segment liabilities 11,777,042 1,115,411 1,517,081 233,062 14,642,596 - . - . 14,642,596 Unallocated corporate liabilities 3,844,529 Consolidated total liabilities 18,487,125 2007 REVENUE External sales 13,043,980 1,613,043 3,263,117 687,665 18,607,805 3,293,947 - . 21,901,752 Inter-segment sales 929,325 530,309 249,805 8,895 1,718,334 98,634 (1,816,968) - . Total revenue 13,973,305 2,143,352 3,512,922 696,560 20,326,139 3,392,581 (1,816,968) 21,901,752 RESULT Segment result 1,168,158 127,356 366,963 (108,674) 1,553,803 1,801,036 - . 3,354,839 Unallocated corporate expenses (198,492) 3,156,347 Interest expense (170,164) Interest income 258,878 Income tax (763,739) Profit for the year 2,481,322 Profit on sale of discontinued operations - net of income tax (1,497,628) Profit for the year from discontinued operations (303,408) Profit for the year from continuing operations 680,286 OTHER INFORMATION Capital expenditure 200,519 25,080 34,628 10,438 270,665 18,590 - . Depreciation and amortisation 69,715 13,787 28,903 15,399 127,804 29,849 - . Non-cash expenses other than depreciation and amortisation (473) (249) (448) (443) (1,613) 1,048 - . ASSETS AND LIABILITIES Segment assets 8,545,980 1,388,023 1,541,925 1,581,097 13,057,025 - . - . 13,057,025 Unallocated corporate assets 4,523,991 Consolidated total assets 17,581,016 Segment liabilities 4,869,636 1,068,448 1,428,378 242,639 7,609,101 - . - . 7,609,101 Unallocated corporate liabilities 4,620,493 Consolidated total liabilities 12,229,594
154 Notes to the Financial Statements 42.1 Included in total sales is an amount of Rs 12,374.212 million (2007: Rs 5,610.671 million) in respect of sales made in the region of United Arab Emirates. The carrying value of segment assets in that region as at September 30, 2008 was Rs 8,002.478 million (2007: Rs 4,470.834 million). The cost to acquire property, plant and equipment during the year in that region was Rs 40.501 million (2007: Rs 26.827 million). 42.2 In order to comply with the requirements of International Accounting Standard 14 "Segment Reporting" the activities of company have been grouped into five segments of related products and services. The energy segment mainly relates to supply and installation of transformers, switchboards, and other related power generation, transmission, and distribution equipment and related services. Rotary machines and product segment includes diesel generating sets, motors, alternators and drives etc. Industry automation and services segment includes designing, engineering and construction services in electrical field, mechanical field and information technology services. Other operations include supply and services of health care equipment, monitoring and security, solar power and home appliances. Communication segment (discontinued) covered supply and installation of telecommunication and other related equipment and services. 42.3 The above mentioned segments do not necessarily match with the organisational structure of the Company. 42.4 Segment assets and liabilities Segment assets include all operating assets used by a segment and consist principally of receivables, inventories and property, plant and equipment, net of allowances and provisions but do not include deferred income taxes. Segment liabilities include all operating liabilities and consist principally of accounts payable, advances and accrued and other liabilities. 43. GENERAL 43.1 Previous year's figures have been rearranged and reclassified wherever necessary for the purposes of comparison. Major change represents reclassification of exchange gain pertaining to purchases and sales transactions from 'Other operating income' to 'Cost of sales'. This change was made for better presentation of transactions in the financial statements of the Company. 43.2 These financial statements were authorised for issue by the Board of Directors in their meeting held on October 31, 2008. Sohail Wajahat H. Siddiqui Chief Executive Officer Gerhard Wilcke Chief Financial Officer & Director
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1 Annual Report 2008 Pakistan Answe
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Mission 3 Mission To realize our vi
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Contents 5 Corporate Governance At
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Corporate Strategies 7 Overall Corp
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Our Values 9 Our values Highest per
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Code of conduct and ethics 11 We ar
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14 Board of Directors Board of Dire
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16 Board of Directors Mr. Klaus Ste
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18 Committees Board Committees Mana
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20 Information to Stakeholders Key
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24 Directors’ Report Dear Shareho
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26 Directors’ Report Performance
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28 Directors’ Report Industry Sec
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30 Directors’ Report Within Count
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32 Directors’ Report Corporate Go
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34 Directors’ Report Board of Dir
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42 Directors’ Report Corporate Co
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44 Directors’ Report
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46 Directors’ Report 2,500 Nation
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48 Directors’ Report Human Excell
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52 Directors’ Report 3i Program S
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54 Directors’ Report Cash Flow Ma
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56 Directors’ Report Acknowledgem
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58 Fit4 2010 Fit4 2010 - Tapping th
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60 Fit4 2010 Operational Excellence
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62 Fit4 2010 We succeed through our
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64 Fit4 2010 Leadership Excellence
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66 Innovation at Siemens "Companies
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68 Power Transmission & Distributio
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82 Industry, Infrastructure & Power
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94 Automation & Drives
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96 Automation & Drives Generating S
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98 Automation & Drives Standard Pro
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100 Medical, OEM Onshore, Transport
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102 Medical, OEM Onshore, Transport
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