Annual report - HSE

In 2012, the audit of financial statements of the companies within the HSE Group in
Slovenia was performed by the audit firm Deloitte revizija d.o.o., which reviewed also
the consolidated companies abroad; however, they were not audited in the country of
residence. Three companies registered abroad were audited by the audit companies in
their respective countries, namely one by KPMG and two by Deloitte.
Costs of auditor 2012 2011
Audit of annual reports* 157,023 168,744
Other audit services 13,000 12,996
Other non-audit services 3,720 52,800
Total costs of auditor 173,743 234,540
in €
* based on contractual values
Labour costs (23)
Labour costs comprise salaries and allowances, social insurance contributions, additional
pension insurance and other labour costs (meal allowance, commuting allowance, annual
leave allowance, financial support, etc.). This includes also the costs of compensations for
unutilised leaves in 2012, which can be utilised until 30 June 2013.
As a result of unified presentation of meal allowances of employees in the Group
companies providing hot meal, EUR 607,147 was included among labour costs and, on the
other hand, among net sales revenue, in consolidation process.
Labour costs 2012 2011
Salaries 108,833,508 105,002,437
Pension insurance costs 18,492,461 18,228,861
Other insurance costs 8,199,367 7,904,988
Other labour costs 12,514,590 15,177,441
Total labour costs 148,039,926 146,313,727
in €
Write-downs in value (24)
The majority of write-downs in value is represented by depreciation of property, plant and
equipment.
The Group applies similar rates of depreciation to intangible assets and property, plant and
equipment of the same kind. As for the manufacturing plant and equipment, individual
subsidiaries apply depreciation rates that correspond to the activity carried out. Depreciation
of fixed assets acquired through government grants or free of charge is accounted for
separately. For the amount of accumulated depreciation, long-term deferred revenue are
utilised and other operating revenue is recorded.
Most of allowances for receivables and inventories refer to creation of doubtful operating
receivables and impairments of values of coal inventories to net realisable value.
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Annual Report HSE 2012
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Write-downs of fixed assets mainly represent impairment of fixed assets in the
consolidation process – more details are available in Section 5.5.8.1 (2), and write-down
due to disastrous Drava floods in November 2012.