Annual report - HSE
Annual report - HSE
Annual report - HSE
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Other short-term liabilities (17)<br />
Other short-term liabilities include accrued costs, which mainly represent costs connected<br />
with electricity purchases (including costs of emission coupons), costs for unutilised leaves<br />
and concession costs.<br />
During consolidation, total amount of EUR 3,657,774 of accrued costs was eliminated.<br />
Contingent liabilities and assets (18)<br />
in €<br />
Contingent liabilities 31 December 2012 31 December 2011<br />
Guarantees and parent guarantees 676,591,050 706,681,425<br />
granted to subsidiaries<br />
Warranty guarantees 4,387,598 2,619,403<br />
Other 82,467,541 19,647,297<br />
Total contingent liabilities 763,446,189 728,948,125<br />
In 2011, the Group disclosed among its contingent liabilities also the bank guarantees<br />
and other types of insurance for its liabilities. As this refers to the insurance of a part of<br />
liabilities which are already disclosed in the consolidated statement of financial position,<br />
the amount is no longer disclosed in contingent liabilities in 2012.<br />
Other contingent liabilities mostly include the costs of dismantlement of fixed assets in the<br />
amount of EUR 19,647,297. The provisions have not yet been created as no decision has<br />
been made regarding the timing and manner of dismantling.<br />
The guarantees and parent guarantees given to the subsidiaries in Slovenia by the<br />
controlling company are presented in detain in the table below.<br />
Beneficiary Debtor Guarantee type Basic legal transaction From To Value in Contingent<br />
EUR million liability in<br />
EUR as at<br />
31/12/2012<br />
European SENG Guarantee for Guarantee Facility Agreement 2/15/06 Effective for Total EUR 33,250,000<br />
Investment Bank/ bank guarantee as at 15/02/2006 the period of 43 million +<br />
bank consortium agreement interest + costs<br />
applicability<br />
Geoplin d.o.o. TEŠ Guarantee Long-term purchase and 11/23/06 Effective for For the period 61,500,000<br />
statement sales agreement for natural the period of 2011-2015<br />
gas no. 277 between TEŠ and agreement total EUR<br />
Geoplin as at 23/11/2006, applicability 96 million +<br />
17/02/2010 costs + interest<br />
Alstom consortium TEŠ Parent Agreement between 11/25/09 Effective for Total EUR 407,831,437<br />
guarantee TEŠ d.o.o. and Alstom the period of 695 million +<br />
consortium (Contract on the agreement escalation clause<br />
design, procurement and applicability + installation +<br />
erection of the power island<br />
interest + costs<br />
for the facility called “Sostanj<br />
Unit 6”), as at 27/06/2008<br />
+ annexes<br />
European TEŠ Guarantee for Guarantee Facility Agreement 11/24/10 Effective for Total EUR 88,000,000<br />
Investment Bank/ bank guarantee as at 24/11/2010 the period of 88 million +<br />
bank consortium agreement interest + costs<br />
applicability<br />
UniCredit Slo, SID TEŠ Guarantee for Loan agreement no. 12/21/07 Effective for Total EUR 4,000,000<br />
bank loan K 1967/07-SIN-107/07 as at the period of 24 million +<br />
21/12/2007, 24/11/2010 agreement interest + costs<br />
applicability<br />
EBRD TEŠ Guarantee for Agreement on guarantee 1/12/11 Effective for Total EUR 66,000,000<br />
EBRD loan and loss reimbursement the period of 160 million +<br />
between <strong>HSE</strong> and EBRD the period of interest + costs<br />
as at 12/01/2011<br />
loan agreement<br />
applicability<br />
Total contingent liabilities from guarantees and parent guarantees granted to subsidiaries 660,581,437<br />
<strong>Annual</strong> Report <strong>HSE</strong> 2012<br />
5 Financial Report of <strong>HSE</strong> Group<br />
197