4.4.4 Cash flow statement in € <strong>Annual</strong> Report <strong>HSE</strong> 2012 4 Financial Report of the company <strong>HSE</strong> 114 Item no. Item 2012 2011 A. CASH FLOWS FROM OPERATING ACTIVITIES a) Items of income statement 60,690,652 35,064,614 Operating revenue (except from revaluation) 1,945,621,389 1,360,553,426 and financial income from operating receivables Operating revenue (except from revaluation and (1,880,711,950) (1,305,269,023) amortisation/depreciation) and financial expenses for operating liabilities Income taxes and other taxes not included (4,218,787) (20,219,789) in operating expenses b) Changes in net operating assets in statement (2,772,695) (5,266,260) of financial position items Opening less closing operating receivables (68,015,868) (31,850,038) Opening less closing other assets 5,149,399 (944,856) Opening less closing deferred tax assets 0 (476,948) Opening less closing inventories 704 (853) Closing less opening operating liabilities 65,116,108 29,640,313 Closing less opening other liabilities and provisions (5,023,038) (1,660,187) Closing less opening deferred tax liabilities 0 26,309 c) Net cash from operating activities 57,917,957 29,798,354 B. CASH FLOWS FROM INVESTING ACTIVITIES a) Cash receipts from investing activities 26,714,998 212,038,811 Cash receipts from interest 6,576,287 1,757,878 Cash receipts from dividends and shares in profits of associates 2,711,268 1,847,040 Cash receipts from intangible assets (including advances) 3,856,426 5,659,866 Cash receipts from property, plant and equipment (including advances) 74,967 19,027 Cash receipts from short-term loans 10,286,800 202,755,000 Cash receipts from other long-term investments 3,209,250 0 b) Cash disbursements for investing activities (214,355,682) (305,166,831) Cash disbursements to acquire intangible assets (including advances) (8,073,222) (19,609,806) Cash disbursements to acquire property, plant (1,315,660) (4,543,125) and equipment (including advances) Cash disbursements from short-term loans granted (201,786,800) (263,755,000) Cash disbursements from investments in subsidiaries, (3,180,000) (17,258,900) associates and jointly controlled companies c) Net cash from investing activities (187,640,684) (93,128,020) C. CASH FLOWS FROM FINANCING ACTIVITIES a) Cash receipts from financing activities 190,764,740 187,350,000 Cash receipts from short-term loans received 190,764,740 187,350,000 b) Cash disbursements from financing activities (76,044,651) (145,258,629) Interest paid on loans received (7,286,419) (3,096,673) Cash disbursements from long-term loans received (9,108,232) (9,811,956) Cash disbursements from short-term loans received (39,650,000) (132,350,000) Cash disbursements from dividends and shares in profits (20,000,000) 0 c) Net cash from financing activities 114,720,089 42,091,371 D. CASH AND CASH EQUIVALENTS AT THE BEGINNING OF PERIOD 18,203,132 39,443,839 Effects of changes in exchange rates on cash and cash equivalents 0 (2,412) Increase/(decrease) of cash and cash equivalents (15,002,638) (21,238,295) E. CASH AND CASH EQUIVALENTS AT THE END OF PERIOD 3,200,494 18,203,132 * The accompanying notes are an integral part of the financial statements and should be read in conjunction with them.
4.4.5 Statement of changes in equity in € Item no. Item Called-up capital Revenue reserves Retained earnings TOTAL Share capital Capital surplus Other revenue Fair value Retained Net profit reserves reserves net profit or loss for the year A.1. Balance as at 01/01/2011 29,558,789 561,243,185 296,361,537 2,839,086 39,745,702 0 929,748,299 B.1. Transactions with owners 0 0 0 0 0 0 0 B.2. Changes in total comprehensive income 0 0 0 (6,348,973) 0 46,729,619 40,380,646 a) Net profit or loss for the year 46,729,619 46,729,619 b) Other changes in total comprehensive income (6,348,973) (6,348,973) B.3. Changes in equity 0 0 63,110,511 0 (39,745,702) (23,364,809) 0 b) Allocation of portion of net profit for the <strong>report</strong>ing 23,364,809 (23,364,809) 0 period to other components of equity in accordance with the decision of management and supervisory bodies c) Allocation of a portion of net profit to additional 39,745,702 (39,745,702) 0 reserves in accordance with the general meeting resolution C. Balance as at 31/12/2011 29,558,789 561,243,185 359,472,048 (3,509,887) 0 23,364,810 970,128,945 A.1. Balance as at 01/01/2012 29,558,789 561,243,185 359,472,048 (3,509,887) 23,364,810 0 970,128,945 B.1. Transactions with owners 0 0 0 0 (20,000,000) 0 (20,000,000) h) Dividend payout (20,000,000) (20,000,000) B.2. Changes in total comprehensive income 0 0 0 (4,659,940) 0 42,954,179 38,294,239 a) Net profit or loss for the year 42,954,179 42,954,179 b) Other changes in total comprehensive income (4,659,940) (4,659,940) B.3. Changes in equity 0 0 24,841,899 0 (3,364,810) (21,477,089) 0 b) Allocation of portion of net profit for the <strong>report</strong>ing 21,477,089 (21,477,089) 0 period to other components of equity in accordance with the decision of management and supervisory bodies c) Allocation of a portion of net profit to additional 3,364,810 (3,364,810) 0 reserves in accordance with the general meeting resolution Balance as at 31/12/2012 29,558,789 561,243,185 384,313,947 (8,169,827) 0 21,477,090 988,423,184 ACCUMULATED PROFIT 0 0 0 0 0 21,477,090 21,477,090 * The accompanying notes are an integral part of the financial statements and should be read in conjunction with them. <strong>Annual</strong> Report <strong>HSE</strong> 2012 4 Financial Report of the company <strong>HSE</strong> 115
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ANNUAL REPORT OF THE COMPANY HSE &
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Contents 7 8 9 10 13 13 14 15 1 Int
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What you see: Downpour What we see:
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1.2 Report of the Supervisory Board
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Other important matters and issues
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1.2.2 Monitoring and supervision of
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1.3 Electricity production and trad
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HSE Group 2012 2011 IND 12 / 11 Net
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1.5 Chronology of important events
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• On 19 October, an agreement on
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management. Immediately after the i
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2.1 Controlling company 2.1.1 Profi
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2.1.3 Management of the controlling
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2.1.4 Corporate governance statemen
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• Supervising the integrity of fi
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HSE Group in western, central and s
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Hydro production Dravske elektrarne
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Srednjesavske elektrarne d.o.o. (SR
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Termoelektrarna Trbovlje d.o.o. (TE
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PV Zimzelen d.o.o. is a retirement
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HSE Adria d.o.o. HSE Adria d.o.o. M
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Investments HSE Invest d.o.o. HSE I
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Regular cooperation with trade unio
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National, European and global frame
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2.5.4 Achieving information securit
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performed with the help of market c
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Slovenian electricity market in 201
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The scope of trading on the Italian
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Long-term contracts and day-ahead m
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Structure of sources The electricit
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- Page 82 and 83: 2.12 Risk management The HSE Group
- Page 84 and 85: 2.12.2 Operating risks Market risk
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5.4 Consolidated financial statemen
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5.4.4 Consolidated cash flow statem
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5.5 Notes to the consolidated finan
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5.5.2 Basis for preparation In the
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5.5.4 Currency reports 5.5.4.1 Func
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Emission coupons are not amortised,
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5.5.7.5 Long-term investments in as
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5.5.7.7 Inventories Inventories are
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5.5.7.10 Provisions for jubilee and
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Write-downs in value include amorti
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5.5.8 Notes to the consolidated fin
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Property, plant and equipment (2) i
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Other long-term investments and loa
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Changes in deferred tax assets in 2
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Cash and cash equivalents (8) in
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Provisions for legal actions are cr
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Long-term operating liabilities to
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Considering the increase in assesse
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In 2012, the audit of financial sta
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Financial expenses (27) Financial e
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Considering the abovementioned fact
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5.5.8.8.1 Credit risk Most of the G
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Changes in allowances for short-ter
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Contracts concluded for currency sw
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in € Capital management 31 Decemb
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Contacts Holding Slovenske elektrar
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HSE BH d.o.o. Bulevar Meše Selimov
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NIP 5 Revised investment programme
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Holding Slovenske elektrarne d.o.o.