Annual report - HSE
Annual report - HSE
Annual report - HSE
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Provisions for termination and jubilee benefits (10)<br />
in €<br />
Provisions for termination and jubilee benefits 31 December 2012 31 December 2011<br />
Termination 10,164,253 10,037,410<br />
Jubilee benefits 4,345,328 3,972,735<br />
TOTAL 14,509,581 14,010,145<br />
At the end of 2012, the Group discloses provisions for termination and jubilee benefits,<br />
created on the basis of actuarial calculation as at 31 December 2012.<br />
The actuarial calculation was based on:<br />
• the number of employees in the company as at 31 December 2012 (gender, age, overall<br />
and pension qualifying period of service, average net and gross salary for the period July<br />
– September 2012);<br />
• method for calculating termination and jubilee benefits in the company,<br />
• average salary growth of 1.9% in 2013, 1.5% in 2014 and 2015 and 3.0% per year in the<br />
following years;<br />
• discount interest rate of 4.6%, and<br />
• employee turnover by age category.<br />
in €<br />
Changes in provisions for Provisions for Provisions for TOTAL<br />
termination and jubilee benefits termination benefits jubilee benefits<br />
Balance as at 01/01/2011 10,155,831 4,149,903 14,305,734<br />
Creation, increase 721,546 359,502 1,081,048<br />
Decrease - drawing -839,967 -499,015 -1,338,982<br />
Decrease - reversal 0 -37,655 -37,655<br />
Balance as at 31/12/2011 10,037,410 3,972,735 14,010,145<br />
Balance as at 01/01/2012 10,037,410 3,972,735 14,010,145<br />
Creation, increase 966,156 907,633 1,873,789<br />
Decrease - drawing -737,345 -535,040 -1,272,385<br />
Decrease - reversal -101,968 0 -101,968<br />
Balance as at 31/12/2012 10,164,253 4,345,328 14,509,581<br />
Other provisions (11)<br />
in €<br />
Other provisions 31 December 2012 31 December 2011<br />
For lawsuits 11,250,027 12,319,134<br />
For closing works on cave excavation site 28,716,337 37,331,283<br />
For compensations 43,293 43,293<br />
Other 5,103,950 3,710,212<br />
TOTAL 45,113,607 53,403,922<br />
Provisions for closing a part of extraction sites are created on the basis of internal expert<br />
<strong>report</strong>s and are utilised for the costs of mining works, hydrological costs and ecological<br />
restoration. Based on re-verification of provisions assessments and renovation of some<br />
parts with proper funds, a part of provisions was reversed in 2012.<br />
<strong>Annual</strong> Report <strong>HSE</strong> 2012<br />
5 Financial Report of <strong>HSE</strong> Group<br />
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