Annual report - HSE
Annual report - HSE
Annual report - HSE
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Other current liabilities (15)<br />
in €<br />
Other short-term liabilities 31 December 2012 31 December 2011<br />
Accrued costs 3,173,828 6,167,717<br />
TOTAL 3,173,828 6,167,717<br />
Among its other short-term liabilities, the company discloses accrued costs that mostly<br />
relate to electricity purchases.<br />
Contingent liabilities and assets (16)<br />
in €<br />
Contingent liabilities 31 December 2012 31 December 2011<br />
Guarantees and parent guarantees 660,581,437 759,803,967<br />
granted to subsidiaries in Slovenia<br />
Guarantees and parent guarantees 5,500,000 8,344,000<br />
granted to subsidiaries abroad<br />
Guarantees granted to others 62,124,606 350,000<br />
Total contingent liabilities 728,206,043 768,497,967<br />
In 2012, the company disclosed in contingent liabilities also the guarantees given in relation<br />
to bank guarantees and other types of collateralisation in the area of electricity trading.<br />
This is now disclosed within the framework of credit risk.<br />
Among its contingent liabilities in 2011, the company also recorded the amounts of futures<br />
concluded for purchase of electricity, which is currently disclosed as price risk.<br />
The guarantees and parent guarantees given to the company’s subsidiaries in Slovenia are<br />
presented in detain in the table below:<br />
Beneficiary Debtor Guarantee Basic legal transaction From To Value in Contingent<br />
type EUR million liability<br />
in EUR as at<br />
31/12/2012<br />
European SENG Guarantee Guarantee Facility Agreement 2/15/06 Effective for the Total EUR 33,250,000<br />
Investment Bank/ for bank as at 15/02/2006 period of agree- 43 million +<br />
bank consortium guarantee ment applicability interest + costs<br />
Geoplin d.o.o. TEŠ Guarantee Long-term purchase and sales 11/23/06 Effective for the For the period 61,500,000<br />
statement agreement for natural gas no. period of agree- 2011-2015 total<br />
277 between TEŠ and Geoplin agreement EUR 96 million<br />
as at 23/11/2006, 17/02/2010<br />
applicability + costs + interest<br />
Alstom consortium TEŠ Parent Agreement between TEŠ d.o.o. 11/25/09 Effective for the Total EUR 695 407,831,437<br />
guarantee and Alstom consortium period of agree- million +<br />
(Contract on the design, ment applicability escalation<br />
procurement and erection of the clause +<br />
power island for the facility called installation +<br />
“Sostanj Unit 6”), as at 27/06/2008<br />
interest + costs<br />
+ annexes<br />
in €<br />
<strong>Annual</strong> Report <strong>HSE</strong> 2012<br />
4 Financial Report of the company <strong>HSE</strong><br />
142<br />
European TEŠ Guarantee Guarantee Facility Agreement 11/24/10 Effective for the Total EUR 88,000,000<br />
Investment Bank/ for bank as at 24/11/2010 period of agree- 88 million +<br />
bank consortium guarantee ment applicability interest + costs<br />
UniCredit Slo, SID TEŠ Guarantee Loan agreement no. 12/21/07 Effective for the Total EUR 4,000,000<br />
for bank K 1967/07-SIN-107/07 as at period of agree- 24 million +<br />
loan 21/12/2007, 24/11/2010 ment applicability interest + costs<br />
EBRD TEŠ Guarantee Agreement on guarantee and 1/12/11 Effective for the Total EUR 66,000,000<br />
for EBRD loss reimbursement between period of loan 160 million +<br />
loan <strong>HSE</strong> and EBRD as at 12/01/2011 agreement interest + costs<br />
applicability<br />
Total contingent liabilities from guarantees and parent guarantees granted to subsidiaries 660,581,437
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