Annual report - HSE

Other short-term liabilities (17)
Other short-term liabilities include accrued costs, which mainly represent costs connected
with electricity purchases (including costs of emission coupons), costs for unutilised leaves
and concession costs.
During consolidation, total amount of EUR 3,657,774 of accrued costs was eliminated.
Contingent liabilities and assets (18)
in €
Contingent liabilities 31 December 2012 31 December 2011
Guarantees and parent guarantees 676,591,050 706,681,425
granted to subsidiaries
Warranty guarantees 4,387,598 2,619,403
Other 82,467,541 19,647,297
Total contingent liabilities 763,446,189 728,948,125
In 2011, the Group disclosed among its contingent liabilities also the bank guarantees
and other types of insurance for its liabilities. As this refers to the insurance of a part of
liabilities which are already disclosed in the consolidated statement of financial position,
the amount is no longer disclosed in contingent liabilities in 2012.
Other contingent liabilities mostly include the costs of dismantlement of fixed assets in the
amount of EUR 19,647,297. The provisions have not yet been created as no decision has
been made regarding the timing and manner of dismantling.
The guarantees and parent guarantees given to the subsidiaries in Slovenia by the
controlling company are presented in detain in the table below.
Beneficiary Debtor Guarantee type Basic legal transaction From To Value in Contingent
EUR million liability in
EUR as at
31/12/2012
European SENG Guarantee for Guarantee Facility Agreement 2/15/06 Effective for Total EUR 33,250,000
Investment Bank/ bank guarantee as at 15/02/2006 the period of 43 million +
bank consortium agreement interest + costs
applicability
Geoplin d.o.o. TEŠ Guarantee Long-term purchase and 11/23/06 Effective for For the period 61,500,000
statement sales agreement for natural the period of 2011-2015
gas no. 277 between TEŠ and agreement total EUR
Geoplin as at 23/11/2006, applicability 96 million +
17/02/2010 costs + interest
Alstom consortium TEŠ Parent Agreement between 11/25/09 Effective for Total EUR 407,831,437
guarantee TEŠ d.o.o. and Alstom the period of 695 million +
consortium (Contract on the agreement escalation clause
design, procurement and applicability + installation +
erection of the power island
interest + costs
for the facility called “Sostanj
Unit 6”), as at 27/06/2008
+ annexes
European TEŠ Guarantee for Guarantee Facility Agreement 11/24/10 Effective for Total EUR 88,000,000
Investment Bank/ bank guarantee as at 24/11/2010 the period of 88 million +
bank consortium agreement interest + costs
applicability
UniCredit Slo, SID TEŠ Guarantee for Loan agreement no. 12/21/07 Effective for Total EUR 4,000,000
bank loan K 1967/07-SIN-107/07 as at the period of 24 million +
21/12/2007, 24/11/2010 agreement interest + costs
applicability
EBRD TEŠ Guarantee for Agreement on guarantee 1/12/11 Effective for Total EUR 66,000,000
EBRD loan and loss reimbursement the period of 160 million +
between HSE and EBRD the period of interest + costs
as at 12/01/2011
loan agreement
applicability
Total contingent liabilities from guarantees and parent guarantees granted to subsidiaries 660,581,437
Annual Report HSE 2012
5 Financial Report of HSE Group
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