Annual report - HSE

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