Financial Position of Telenor Group | Interim Report Q2 2010

Telenor is one of the leading group in telecommunication operation in all over the world that's why it's financial report is strong as compare to other. Here we are going to share you Q2 2010 Interim report (January-June 2010) lets have a look. As this report represents financial position of Telenor group so have following highlights Interim report, Telenor’s operations, Group overview ,Outlook for 2010, Condensed interim financial information, Notes to the consolidated interim financial statements and Responsibility statement. The statements below are related to Telenor’s development in the second quarter of 2010 compared to the second quarter of 2009, unless otherwise stated. All comments on EBITDA are made on development in EBITDA before other income and expenses (other items).





Financial position 

• During the first half of 2010, non-current assets increased by NOK 15.7 billion, primarily due to an increase in the carrying amounts of associated companies mainly resulting from the contribution of Kyivstar to VimpelCom Ltd. The increase in carrying amounts resulted from the step-up to fair value on the shares received in consideration for Kyivstar.
• Net interest-bearing liabilities decreased by NOK 0.8 billion to NOK 25.5 billion, as a result of a NOK 3.1 billion increase in cash and cash equivalents. The increase was largely attributable to strong operating cash flow, partly offset by new debt in Uninor of NOK 2.2 billion.
• As of 30 June 2010, the Norwegian Krone had depreciated against most of the functional currencies of Telenor’s foreign subsidiaries and associated companies when compared to 31 December 2009. Total equity increased by NOK 13.9 billion to NOK 99.0 billion. The increase is due to strong earnings and positive translation effects contributing to a total comprehensive income of NOK 18.9 billion for the period, partly offset by total dividends declared of NOK 5.3 billion to equity holders of Telenor ASA and non-controlling interests in subsidiaries.

Cash flow

• The net cash inflow from operating activities in the first half of 2010 was NOK 13.8 billion, a decrease of NOK 4.2 billion. Income taxes paid amounted to NOK 3.2 billion, an increase of NOK 1.8 billion due to the jointly taxed Norwegian entities being in a tax paying position from the end of 2009. Dividends received decreased by NOK 3.2 billion, related to high dividend payments from Kyivstar in 2009. The positive change in working capital of NOK 3.2 billion was mainly related to revenue share accruals in DTAC and strong cash inflow resulting from a high level of receivables in the fourth quarter of 2009 and prepayments in the second quarter of 2010.
• The net cash outflow from investing activities in the first half of 2010 was NOK 8.6 billion, of which NOK 7.1 billion was related to intangible assets and property, plant and equipment. Paid capex was higher than reported capex, related to the network roll-out in Uninor as well as high capex payables in Pakistan at year-end 2009. The acquisition of C More Group AB amounted to gross cash outflow of NOK 1.1 billion.
• The net cash outflow from financing activities in the first half of 2010 was NOK 3.3 billion. This was mainly attributable to payment of dividends to equity holders of Telenor ASA and non-controlling interests in subsidiaries, partly offset by net proceeds relating to interest-bearing liabilities.
• Cash and cash equivalents increased by NOK 3.1 billion to NOK 14.6 billion as of 30 June 2010.

Transactions with related parties
For detailed information on related party transactions refer to Note 34 in Telenor’s Annual Report 2009. In addition to transactions described in the Annual Report the following new significant related party transactions occurred in 2010:

• On 13 January 2010, the extraordinary general meeting of shareholders of Kyivstar approved additional dividends of UAH 0.8 billion (approximately NOK 0.5 billion) for the fiscal year of 2008, of which Telenor has received its appropriate share of approximately NOK 230 million. The dividend distributed is a proportion of total net profit of UAH 5.1 billion for the fi scal year of 2008.
• On 21 April 2010, VimpelCom Ltd. successfully completed the Exchange Offer for OJSC VimpelCom shares and American Depository Shares. As part of the transaction, Telenor’s shares in Kyivstar was transferred to VimpelCom Ltd. and a gain of approximately NOK 6.5 billion has been recognized in the second quarter of 2010.
• On 11 May 2010, at the same time as Telenor Media & Content Services AS acquired 35% of the shares in C More Entertainment commented on in note 4, Telenor received a payment of approximately NOK 0.5 billion related to a sublicense agreement with C More Entertainment of certain Danish sports rights entered into in 2009.
• On 28 June 2010, Telenor signed a 3-year agreement with TV 2 for distribution of Premier League matches from the 2010/2011 season until the 2012/2013 season to Canal Digital’s cable and satellite subscribers.
• Outlook for 2010 Based on the current group structure including Uninor and currency rates as of 30 June 2010 Telenor expects:
• Organic revenue growth of 3–5%.
• An EBITDA margin before other income and expenses of around 28%.
• Capital expenditure as a proportion of revenues, excluding licences and spectrum, of 12–13%.
• Telenor expects that Uninor will contribute with an EBITDA loss in the range of NOK 4.5–5 billion and capital expenditure in the range of NOK 2.0–2.5 billion.

Risks and uncertainties
The existing risks and uncertainties described below are expected to remain for the next six months. A growing share of Telenor’s revenues and profits is derived from operations outside Norway. Currency fluctuations may influence the reported figures in Norwegian Kroner to an increasing extent. Political risk, including regulatory conditions, may also influence the profits.
For additional explanations regarding risks and uncertainties, please refer to the Report of the Board of Directors for 2009, section Risk Factors and Risk Management, and Telenor’s Annual Report 2009 Note 30 Financial Instruments and Risk Management and Note 35 Commitments and Contingencies. Readers are also referred to the disclaimer at the end of this section.


Disclaimer
This report contains statements regarding the future in connection with Telenor’s growth initiatives, profi t fi gures, outlook, strategies and objectives. In particular, the section ‘Outlook for 2010’ contains forward looking statements regarding the Group’s expectations. All statements regarding the future are subject to inherent risks and uncertainties, and many factors can lead to actual profits and developments deviating substantially from what has been expressed or implied in such statements.

Cash Flow Statement

Changes in Equity

Income Statement

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Reliance Industries Limited | A Complete Project Study of RIL India

Reliance Group comes in top industries in all over the India. This Reliance Group is founded by Dhirubhai H. Ambani which is the India's largest private sector enterprise, with business in Energy & Materials value chain. The annual revenue of Reliance group is excess of 44 Billion USD. Reliance Industries Limited is a Fortune Global 500 company and is the largest private sector company in India. Backward vertical integration has been the basis of the evolution and growth of Reliance. Starting with textiles in the late seventies, Reliance pursued a strategy of backward vertical integration - in polyester, fiber intermediates, plastics, petrochemicals, petroleum refining and oil and gas exploration and production - to be fully integrated along the materials and energy value chain.
Here we are going to share you a complete project study of Reliance Industries Limited which in the leading group of India. This assignment with help you in financial position of Reliance group,  Products and Brands of Reliance Group, Quality certificates, Market position, Management skills and SWOT Analysis. Lets have a sample view...




The RIL's operations are classified into 4 segments are:

1. Petroleum Refining and Marketing business
2. Petrochemicals business
3. Oil and Gas Exploration & Production business
4. Others

The Reliance has the largest refining capacity at any single location.
The Reliance is:

• Largest producer of Polyester Fiber and Yarn
• 4th largest producer of Paraxylene (PX)
• 5th largest producer of Polypropylene (PP)
• 7th largest producer of Purified Terephthalic Acid (PTA) and Mono Ethylene Glycol (MEG)

Product Flow Chart of RIL.

Financial Report of RIL India

Balance Sheet as on 31st March 2010

 Cash Flow of Reliance India

Turn Over of RIL

Profit After Tax

Earning Per Share

Book Value Per Share

Market Reutilization of Reliance Group of India

Net Worth of Reliance Industry

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CAPITAL STRUCTURE IN DEVELOPING COUNTRIES | Structure of Capital

In this article a study is conducted through different developing countries to know that capital structure theory is portable across different countries with different institutional structures. To make the article meaningful we have taken a sample of 10 countries those have different economies and financial structures. Different tools such as Total debt ratio, long-term debt Ratio, Long-term market debt ratio, turnover ratio, Regression, Coefficient of Variation, Standard Deviation, Return on asset and asset tangibility. After that it was concluded that some of the insight from modern finance theory are portable across countries, much remains to be done to understand the impact of different institutional features on capital structure choice.

Introduction:

The mix of long-term debt and equity financing maintained by a firm is called Capita

Structure Different type of work has been done in the past on capital structure such as the Mayer’s Theory on Developing countries and the most recently the study on G-7 countries by   Rajan and Zingales(1995) to understand the capital structure of developing countries. In his article we have taken a sample of 10 developing countries namely India, Pakistan, Thailand, Malaysia, Turkey Zimbabwe, Mexico, Brazil, Jordan, and Korea. Five of these countries were under British control in the past. Two are of American block and three others. 

The main Focus of this article is to answer the three questions:

• Do financial leverage decisions differ significantly between developing and developed countries?
• Are the factors that affect cross- sectional variability in individual countries’ capital structures similar between developed and developing countries?  
• Are the predictions of conventional structure models improved by knowing the nationality of the company?

You can download this full article from here

Financial Statement Analysis of OGDCL

OGDCL (Oil and Gas Development Company Ltd) is the national oil & gas company of Pakistan and the flagship of the country’s E&P sector. OGDCL was created under an Ordinance dated 20th September 1961 with the prime responsibility to undertake an organized and systematic exploratory program and to plan and promote Pakistan's oil and gas prospects. Government of Pakistan holds 85.02% of shares in the company.
This Project Report is all about Financial Statement Analysis of OGDCL.
This report includes:

• Introduction to Company
• Business prospects
• Industry & Company Analysis
• Business Analysis
• Business Strategy
• Financial Ratios Analysis
• Trend Analysis
• Cross-Sectional Analysis
• Fore-casted Financial Statements
• Sustainable Growth Rate
• SGR under Steady Model
• SGR under varying Assumptions Fore-casted Statements

Predictive Link in Asset, Prices and Inflation

Change in asset and consumer prices have steady but vital impact on inflation. The relationship has been in the limelight again in the last decade. In many countries like Japan and UK, constant rise in asset prices brings inflation in the consumer market. It is very important to keep consumer prices in control to keep asset prices stagnant even in short period of time; at least for an economic period. It seems important, therefore, to ascertain whether asset prices influence consumer prices in general, for a broader spectrum of countries. This research article has very brief and beautiful explanation of the concept with an example. Author choose a sample including major industrial countries as well as emerging markets, and test for the significance of housing prices and share prices in predicting inflations.
Author: Batavia, Bala, Nandakumar, Parameswaran, Wague, Cheick
Source: Indian Institute of Management Kozhikode

 

Maruti Suzuki | A Projects Report on Automobile Vehicles | Financial Report

Maruti Suzuki India Limited a partial subsidiary of Suzuki Motor Corporation of Japan, is India's largest passenger car company, accounting for over 45% of the domestic car market.
It was the first company in India to mass-produce and sell more than a million cars. It is largely credited for having brought in an automobile revolution in India. It is the market leader in India and on 17 September 2007, Maruti Udyog Limited was renamed Maruti Suzuki India Limited. The company's headquarters are located in Delhi. Wiki
Here we are going to present you a Project / Assignment of Maruti Suzuki (Deals in Automobile Vehicles). This Project is uploaded with the request of our valued visitors. This Maruti Suzuki report 2010-2011 includes Profile, Relation, Financial Reports, Swot Analysis, Competitor Reports and many More.
Please have view on sample report and Financial report and competitor report. You can Download this Projects also



Maruti Services

Current Sales of Automobiles
Net Sales

Manufactured locally

• 800 (Launched 1983)
• Omni (Launched 1984)
• Gypsy (Launched 1985)
• WagonR (Launched 2002)
• Alto (Launched 2000)
• Swift (Launched 2005)
• Estilo (Launched 2009)
• SX4 (Launched 2007)
• Swift DZire (Launched 2008)
• A-star (Launched 2008)
• Ritz (Launched 2009)
• Eeco (Launched 2010)

Imported
• Grand Vitara (Launched 2007)

Maruti Financial Position
Net Sales

Net Sales of Maruti was 72535 and PAT was 1464 in 2002; 2003 but this sales goes 289585 and Pat goes 24976 in 2009-2010.

Profit & Loss Ratio of Maruti Suzuki Limited

Financial Position of Maruti Suzuki

Stock Index Report

Competitors of Maruti Suzuki

1. Maruti Suzuki India Ltd

2. Daewoo Motors India Ltd.

3. Hindustan Motors Ltd.

4. Mahindra & Mahindra Ltd.

You can download Full Report / Assignment here.

Rafhan Maize Products Co.Ltd. Financial Statement Analysis Report

Rafhan Maize Products Company Ltd., is located at Faisalabad, about 1100 kilometers north of Karachi, in Pakistan. The Company processes thousands of tons of corn every year to produce high quality food ingredients and industrial products. Rafhan Maize is the pioneer in producing diversified type of starches and sweeteners for multiple applications in more than 50 types of industries.

This is a Financial Statement Analysis of Rafhan Maiza Products Co.Ltd. Financial Statement Analysis shows the various aspects regarding the financial health of the organization and gives some points to refurnish to strengthen the financial position. This Financial Statement Analysis of Rafhan Maize Products Co.Ltd will give you the basic idea about the financial position of the Rafhan Mills. You can get Financial Ration from this to manipulate these into your projects.

Project By: Yasin Tahir MBA Agriculture University Faisalabad.

Investment Plan of ICICI Life Insurance | A comparative study report

This study report reveals all conclusions about Life Insurance concept and practices that a lay man could have. This report basically a comparison between different companies offered same product i.e. Life Insurance Plan. The writer compares on some common Financial grounds and finalizes the results and prepared this document.  The objective of this project was to compare the investment plan of ICICI Prudential Life Insurance with other competitive companies. While doing the comparison writer studied the investment plans ICICI Prudential Life Insurance and that of the other competitive companies. He also compared the market status of the company in respect of the other competitive companies.

Project Report on Islamic Banks of United Kingdome (UK) | Banking Projects

Islamic finance is growing across the globe and not just limited to the Islamic world – significant markets now exist in the USA and the United Kingdom (UK). This project report analyze the Islamic banks in the United Kingdom (UK) specifically how much have the Islamic banks in the United Kingdom grown. Moreover this project report illustrates the growth and scope of Islamic Banks in UK and USA along with the description of development phase of Islamic Banks in UK.
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Project Report on Export Procedure and Documentation | Finance Projects

In this project report author explains issues related to export and its implementation. In this report you can get ideas to setup a complete export organization and other financial issues related to this. Export types and mode of operations, structure, registration policies, validity and all other important financial aspects of exports are being discussed in this report.