Grupa Apator

GRUPA APATOR[GRUPA APATOR

Markets - GRUPA APATOR

Power

engineering

Building industry

Mining

Industry

Product segments – GRUPA APATOR

Switc

hgea

r seg

men

t Meteringsegm

ent

Apator

FAP Pafal

Apator Kfap

Apator Metrix

Apator GmbH

Apator

Apator Control

Apator Mining

Apator Electro

Apator Rector

42% 58%Apator Powogaz

2007GRUPA APATOR

The employment

Apator S.A. 436

FAP Pafal SA 568

Apator Mining 42 290135

Apator Control

Apator Kfap

Apator Metrix

Apator Electro

Apator GmbH

236

68

42 29055

54

2

Total

Design engineers

Salesmen

42 2901 554

125

85

456

588

42 290134

253

57

42 29053

47

2

42 2901 590

31.12.2007 31.12.2006

Net profit margin in 2007

11,2%

6,3% 6,3%

0%

2%

4%

6%

8%

10%

12%

Grupa APATOR Industry Machinery and electrical equipment manufacturing

Profitability of GRUPA APATOR against to electrical engineering sector

GRUPA APATOR – 1Q – 4Q2007

Other data - 1Q-3Q 2007

Profitability of GRUPA APATOR against the economy

13,0%

9,6%7,8%

6,7% 6,3% 6,3% 6,1% 5,6% 5,2%3,7%

2,5%

11,2%

0%

2%

4%

6%

8%

10%

12%

14%

Mining

GRUPA APATOR*)Hotels

Services for propertie

s & companies

Transport, storage & communication

Industry

Manufacturing of machinery and electrica

l equipent

Industrial processing

Utility se

rvices productio

n and provisionPoland

Building industry

Trade & repairs

GRUPA APATOR – 1Q – 4Q2007

Other data - 1Q-3Q2007

Sales productivity of GRUPA APATOR against to the economy

Increase of sales productivity per 1 employee in relation to 2006

8,9%

6,0%

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

2007/2006

GRUPA APATOR Industry

Earnings

Increase of gross earnings in relation to 2006

5,1%

8,9% 9,1%

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

2007/2006

Grupa APATOR Industry Machinery and electrical equipment manufacturing

Performance of the forecast of 2007

Net sales revenues in total 320 000 311 354 97,3%

Forecast2007

Net result 38 000 34 734 91,4%

Performance2007

Degree ofperformance

‘000 PLN

Sales revenues in total

106 000

292 606

200 946

311 354288 820

0

50 000

100 000

150 000

200 000

250 000

300 000

350 000

2003 2004 2005 2006 2007

Expansion of GRUPA APATOR

Sales progress 2006 – 2007 – 106,4%

‘000 PLN

Export in GRUPA APATOR

236 341

56 265

239 670

71 684

0

50 000

100 000

150 000

200 000

250 000

300 000

350 000

1-4Q2006 1-4Q2007

Home Export

Export increase by 15,4 m. PLN

Progress 127, 4 %‘000 PLN

Export share in revenues

13 349

25 859

52 16156 265

71 684

19%

23%

13%

13%

18%

0

10 000

20 000

30 000

40 000

50 000

60 000

70 000

80 000

2003 2004 2005 2006 20075%

10%

15%

20%

25%

30%

Export Export shar in revenues

‘000 PLN

Main export markets

16 9479

700

8 43

6

7 27

1

6 18

1

3 45

5

3 22

6

2 28

1

2 25

2

1 79

0

1 72

8

1 60

4

1 49

0

889

779

739

0

2 000

4 000

6 000

8 000

10 000

12 000

14 000

16 000

18 000

Niemcy

RosjaWę

gry

Ukraina

RumuniaBułg

aria

Litwa

Austria

Dania

Turcja

Łotw

aSer

biaWł

ochy

Gruzja

Szwecja

Chorwac

ja

‘000 PLN

Foreign trade in GRUPA APATOR

Import structure

EUR78%

Dolar amerykański

18%

Other currencies

4%

Export structure

EUR85%

USD15%

Export (‘000 PLN) Import (‘000 PLN)

2006 2007 2006 2007

Eur 47 489 60 991 30 280 26 303

USD 8 776 10 692 5 224 6 217

Other currencies 0 1 1 482 1 475

Total 56 265 71 684 36 986 33 995

2006 2007

Foreign trade balnce +19279 +37689

Currency

275180Balance

2 6791 214Results of forward contracts

-2 404-1 034Balance of currency ratedifferences

3 9742 715Negative currency ratedifferences

1 5701 681Positive currency ratedifferences

20072006Currency rate differences(‘000 PLN)

Financial results of GRUPA APATOR

11 36813 934

40 129

22 507

45 557

28 783

37 645 35 68034 734 34 792

10 000

20 000

30 000

40 000

50 000

60 000

2003 2004 2005 2006 2007

Zysk netto NOPAT

22 028

38 124

49 167

56 775 55 759

10 000

20 000

30 000

40 000

50 000

60 000

2003 2004 2005 2006 2007

EBITDA

‘000 PLN

‘000 PLN

Net profit

Cost level of GRUPA APATOR

5,8%

6,2%6,5%

7,7%

6,1%

12,7%12,3%

14,0% 13,5%

12,5%

5%

7%

9%

11%

13%

15%

2003 2004 2005 2006 2007Share of sales costs in revenues of total activityShare of general costs in revenues of total activity

67,1%65,6%64,9%

59,9%

69,4%

50%52%54%56%58%60%62%64%66%68%70%72%74%

2003 2004 2005 2006 2007Share of manufacturing costs of products sold in revenues of product sales

Investment outlays

6 760

10 300

14 60015 795

15 138

2 000

4 000

6 000

8 000

10 000

12 000

14 000

16 000

2003 2004 2005 2006 2007

‘000 PLN

The future ofGRUPA APATOR

Vision of GRUPA APATOR

GRUPA APATORLEADER IN CENTRAL & EASTERN

EUROPE

Switchgear equipment

Metering equipment

Performance of the vision

Aqusitions

The development of systems and products

Expansion to foreign markets

Furtheraquisitions

Performance of the vision- aquisitions

AquisitionsPafal, Metrix, Kfap

Expenditure

Income2004 -2007

AquisitionsRector, PoWoGaz

39 m.

39,1 m.

Expenditure 90 m.

2008200820072006200520042004

Rector

data visualization

data analysis

Planning of repairs and investments in networks

Automation of meter reading

Data regarding transaction and the company

Extension of the offer of GRUPA APATOR :

Purchase price – 21 m.

70 % of shares

Aquisition option - 30% in 2010

Revenues – 16, 4 m.

Net profit – 4,2 m.

PoWoGaz

Performance of transaction – April 2008

Application made to the Office of Competitionand Consumer Protection

Conditional agreements concluded covering91% of shares

Share price – 4300 PLN

Bank loans

Own financialmeans

Own shares

Financial sourceBuyout of shares

Manufacturinggroup

Technological groupoffering systems based on own solutions and advanced products

Performance of the vision – strategy

From manufacturing company to technological group

Surge protective devices

Switchgear

Miningequipment

Products

Products

Electricity meters

Gas meters

Heat meters

Metering systems

Utility servicessupplier

Residentialbuildings

AMRsystem Apator

Systems – data management

COMPREHENSIVE OFFER FOR METERING AND DISTRIBUTION INFORMATION MANAGEMENT

Operation ofthe network

Customersservice

Reports

Data analysisreading

reading

reading

reading

DA

TA B

ASE

analysis

analysis

analysis

analysis

World trends

EU recommendations regarding saving of energy using appropriate metering and planning

Remote data meter reading

Italy – 30 m. meters

Scandinavia – 2 m. meters

Turkey – 2 m. meters

Bididrectional communication

Market liberalization

Information management

„Green idea”

The roll outs of remote data meter reading performed

JurataAMR (Electricity)

Kalisz, Ostrów Wlkp.AMR (Electricity)

NysaAMR (Electricity)

Bully (Slovakia)AMR (Electricity)

SzczecinekAMR (Electricity)

LegnicaAMR (Electricity)

Szczecinek

Kalisz

Jurata

Nysa

Legnica

Bully

The Netherlands(Gas)

KatowiceHeat meters

Katowice

The roll outs of remote data meter reading for 2008

Poznań

Kalisz

Jurata

Legnica

Bully

Pruszcz Gd.AMR

PoznańAMR

LegnicaAMR

Jurata, Chałupy, KuźnicaAMR

OlsztynAMR

ŁódźAMR

Kalisz, Ostrów Wlkp.AMR

Bully (Słowacja)AMR

Pruszcz Gd.

Łódź

Olsztyn

LEWsystem Apator

ENERGAToruńGdańskSłupsk

Roll outs

Roll outs 2008

VATTENFALL

ENERGAKoszalin

EnergiaProWrocławWałbrzychLegnicaOpoleJelenia Góra

Export development

13 349

25 859

52 161 56 265

71 684

115 439

30%

19%

23%

13% 13%

18%

0

20 000

40 000

60 000

80 000

100 000

120 000

140 000

2003 2004 2005 2006 2007 P20085%

10%

15%

20%

25%

30%

Export Share of export in revenues

‘000 PLN

Forecast 2008

Sales revenues 311 354 370 000 118,8%

Performance2007

Net profit 34 734 57 000 164,1%

Forecast2008

Progress2008/2007

Profit on operating activity 42 953 47 000 109,4%

‘000 PLN

Sales of own shares

Apator Mining – 6 600 000 shares of Apator S.A., 18,7% of capital

Investment expenditure - Rector, Powogaz – 90 m. PLN

Sales of 1 300 000 shares being 3,7% of capital

Average share price - 20 PLN

GRUPA APATOR

Management Management Management Management

Water and heatdivision

Electricity metersdivision

switchgeardivision

Gas division

GRUPA APATOR - divisions

Financial results 2008 -2010

*) 2008 sales incomes of the shares have been excluded for the purpose of comparison of net result with thefollowing years

Salesrevenues 118,8% 116,2% 118,6%

Progress2008/2007

Net result 103,6% 125,0% 126,7%

Progress2009/2008

Progress2010/20092008* 2009 2010

370 000 430 000 510 000

36 000 45 000 57 000

2007

311 354

34 734

‘000 PLN

Investors

Main shareholders

Othershareholders

32%

Apator Mining

19%

Institutionalinvestors

27%

5 naturalpersons

(5% votes each)22%

2004 – 9% 2005 – 15% 2006 – 20% 2007 – 27%

Increase of institutional shareholders in the capital

Dividend policy

APATOR SA declared annual payment of dividend in amount of 75% net profit

Declared dividend value may be changed in case of investment performance

APATOR SA makes advance payment towards dividend

Dividend policy

1 003 1 607 3 554

9 765

31 770

23 229

36 088 35 618

980 1 5003 509 5 454

12 834

22 460

28 235

17 647

0

5 000

10 000

15 00020 000

25 000

30 000

35 000

40 000

2000 r. 2001 r. 2002 r. 2003 r. 2004 r. 2005 r. 2006 r. 2007 r.

Dividend Net profit of APATOR SA

Investmentexpenditure90 m.

‘000 PLN

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