Page 52 - Financial Statements 2014, 2015 & 2016

AVSERMA Aviation Services &
Consolidated Financial Statements Management Co. N.V.
3. Statement of changes in group equity Consolidated financial statements 2014

Statement of changes in group equity

Result
Statement of Share Share Retained current
c
changes in group equity apital premium earnings year Total
AWG AWG AWG AWG
Movement 2013
Balance as per Jan 3,600,000 500,000 (4,797,547) (980,710) (1,678,257)
Determination result - - (980,710) 980,710 -
Additional capital - 160,000 - - 160,000
Net result 2013 - - - (652,023) (652,023)

Balance as per
December 31, '13 3,600,000 660,000 (5,778,257) (652,023) (2,170,280)

Movement 2014
Determination result - - (652,023) 652,023 -
Additional capital - 100,000 - - 100,000
Net result 2014 - - - 946,667 946,667

Balance as per
December 31, '14 3,600,000 760,000 (6,430,280) 946,667 (1,123,613)

The authorized share capital amounts to USD 100,000 of which USD 100,000 was issued and
fully paid up as per December 31, 2014. The determination of the result is based on a yearly
decision of in the general meeting of shareholders of the Company.

The notes form an integral part of these consolidated financial statements

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