Annual report - HSE

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HSE BH d.o.o. Bulevar Meše Selimovića broj 16 71000 Sarajevo, Novi Grad Bosna i Hercegovina MANAGING DIRECTOR: Zlatko Sahadžić T: +387 33 774 775 F: +387 33 774 722 E: hse.bh@hse.si www.hse.si/si/druzbe-hse/druzbe-v-tujini/hse-bh HSE MAK Energy DOOEL Belasica no. 2 1000 Skopje Makedonija MANAGING DIRECTORS: Tomaž Štokelj, Ph.D. Drago Skornšek T: +389 23 118 825 F: +389 23 114 862 E: hse.mak@hse.si www.hse.si/si/druzbe-hse/druzbe-v-tujini/hse-mak-energy HSE Bulgaria EOOD 45A Bulgaria Blvd. Triaditza Region 1404 Sofia Bolgaria MANAGING DIRECTORS: Drago Skornšek Irena Šlemic T: +359 2 96 97 600 F: +359 2 98 05 340 E: hse.bulgaria@hse.si www.hse.si/si/druzbe-hse/druzbe-v-tujini/hse-bulgaria HSE Bratislava Branch Office Svätoplukova 30 821 08 Bratislava Rep. Slovaška MANAGER: Tomaž Štokelj, Ph.D. T: +421 23 30 147 60 F: +421 23 30 147 58 www.hse.si/si/druzbe-hse/podruznice/podruznica-hsebratislava HSE Prague Branch Office Ujezd 409/19 118 00 Praha 1 – Mala Strana Rep. Češka MANAGER: Tomaž Štokelj, Ph.D. T: +420 257 311 210 F: + 420 257 317 238 E: hse.praha@hse.si www.hse.si/si/druzbe-hse/podruznice/podruznica-hse-praga HSE Bucharest Representative Office Str. Economu Cezărescu nr. 31B RO-060754, sector 6 Bucharest Romunija MANAGER: Drago Skornšek T: +40 (0) 312 292 600 F: +40 (0) 312 292 601 www.hse.si/si/druzbe-hse/predstavnistva/predstavnistvo-hsebukaresta Annual Report HSE 2012 2 Business Report 216
Abbreviations ACER ARSO AUKN RS European Agency for Cooperation of Energy Regulators Slovenian Environment Agency The Capital Assets Management Agency of the Republic of Slovenia ERP ES EUR FA Enterprise resource planning Electricity system Euro Fixed assets BDP Gross domestic product GHG Greenhouse gases BU Business unit GSPP Gas and steam power plant CC Control Centre HESS Hidroelektrarne na spodnji Savi d.o.o. CCS Carbon capture and storage HPP Hydropower plant CD CDM CPHE DEM DIIP DP DRP EA EBIT EBITDA EBRD Conceptual design Clean Development Mechanism Cogeneration of heat and electricity Dravske elektrarne Maribor d.o.o. Investment Project Identification Document Development plan Development research project Energy Act Earnings before interest and taxes Earnings before interest and taxes, depreciation and amortisation European Bank for Reconstruction and Development HPUSNG HSE HSE BE HSE BH IAS IASB IFRIC IP ISO IT High-pressure underground storage of natural gas Holding Slovenske elektrarne d.o.o. HSE Balkan Energy HSE BH Energetsko produzeće d.o.o. International Accounting Standards International Accounting Standards Board Interpretations issued by International Financial Reporting Interpretations Committee Implementation project International Organisation for Standardisation Information technology EC European Commission JWC Joint Workers’ Council ECB European Central Bank MAE Ministry of Agriculture and the Environment EE Electricity MF Ministry of Finance EERP European Energy Recovery Programme MG Ministry of Economy EEU Efficient energy use MO Municipality EEX European Energy Exchange MSE Blue solar power plant EFET Standard electricity trading contract MSRP International Financial Reporting Standards EIB ELES ELKO ENDUR EP European Investment Bank Elektro – Slovenija d.o.o. Extra light heating oil Computer programme for electricity trading Environmental report MZIP NA NPP NEP Ministry of Infrastructure and Spatial Planning National Assembly Nuclear power plant National Energy Programme Annual Report HSE 2012 2 Business Report 217
Page 1:
ANNUAL REPORT OF THE COMPANY HSE &
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Contents 7 8 9 10 13 13 14 15 1 Int
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What you see: Downpour What we see:
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1.2 Report of the Supervisory Board
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Other important matters and issues
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1.2.2 Monitoring and supervision of
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1.3 Electricity production and trad
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HSE Group 2012 2011 IND 12 / 11 Net
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1.5 Chronology of important events
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• On 19 October, an agreement on
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management. Immediately after the i
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2.1 Controlling company 2.1.1 Profi
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2.1.3 Management of the controlling
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2.1.4 Corporate governance statemen
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• Supervising the integrity of fi
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HSE Group in western, central and s
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Hydro production Dravske elektrarne
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Srednjesavske elektrarne d.o.o. (SR
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Termoelektrarna Trbovlje d.o.o. (TE
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PV Zimzelen d.o.o. is a retirement
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HSE Adria d.o.o. HSE Adria d.o.o. M
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Investments HSE Invest d.o.o. HSE I
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Regular cooperation with trade unio
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National, European and global frame
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2.5.4 Achieving information securit
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performed with the help of market c
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Slovenian electricity market in 201
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The scope of trading on the Italian
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Long-term contracts and day-ahead m
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Structure of sources The electricit
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2.9 Investments The HSE Group is bo
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At HPP Krško, the following activi
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Most of company’s investments wer
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Debt ratio The debt ratio is an imp
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The value of assets and total equit
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Equity to fixed assets ratio in €
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Debt-to-equity ratio in € 2012 20
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Operating fixed assets rate in €
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Net return on equity ratio (ROE) in
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2.12 Risk management The HSE Group
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2.12.2 Operating risks Market risk
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In 2012, risks were managed with th
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Production management The HSE Group
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Risk of investment activities The k
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2.14 Research and development In 20
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EU level Key activities: • EU Ren
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2 Poslovno poročilo
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3.1 Responsibility to employees In
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Employees and the community Employe
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Number of employees as at 31 Decemb
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certificates on their behalf. In 20
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2 Poslovno poročilo
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4.1 Auditor’s report Annual Repor
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4.2 Statement of management’s res
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4.4 Financial statements 4.4.1 Stat
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4.4.4 Cash flow statement in € An
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4.5 Notes to the financial statemen
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4.5.3 Basis of measurement Company
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4.5.7.2 Property, plant and equipme
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4.5.7.4.2 Non-derivative financial
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4.5.7.7 Equity Total equity of the
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Costs of services are historical co
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in € Intangible assets Emission c
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Investments in subsidiaries (3) in
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Significant amounts from statements
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Short-term financial receivables fr
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Other short-term assets (7) in €
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Provisions for termination and jubi
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Short-term financial liabilities (1
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Other current liabilities (15) in
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Costs of goods, materials and servi
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Tax (24) The company is subject to
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In the reporting period, individual
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Receipts of supervisory board membe
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in € Changes in allowances for sh
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In March 2013, the company TEŠ dre
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Sensitivity analysis of cash flow a
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4.5.8.9 Fair values The company est
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5.1 Auditor’s report for HSE Grou
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5.2 Statement of management’s res
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5.4 Consolidated financial statemen
Page 166 and 167: 5.4.4 Consolidated cash flow statem
Page 168 and 169: 5.5 Notes to the consolidated finan
Page 170 and 171: 5.5.2 Basis for preparation In the
Page 172 and 173: 5.5.4 Currency reports 5.5.4.1 Func
Page 174 and 175: Emission coupons are not amortised,
Page 176 and 177: 5.5.7.5 Long-term investments in as
Page 178 and 179: 5.5.7.7 Inventories Inventories are
Page 180 and 181: 5.5.7.10 Provisions for jubilee and
Page 182 and 183: Write-downs in value include amorti
Page 184 and 185: 5.5.8 Notes to the consolidated fin
Page 186 and 187: Property, plant and equipment (2) i
Page 188 and 189: Other long-term investments and loa
Page 190 and 191: Changes in deferred tax assets in 2
Page 192 and 193: Cash and cash equivalents (8) in
Page 194 and 195: Provisions for legal actions are cr
Page 196 and 197: Long-term operating liabilities to
Page 198 and 199: Considering the increase in assesse
Page 200 and 201: In 2012, the audit of financial sta
Page 202 and 203: Financial expenses (27) Financial e
Page 204 and 205: Considering the abovementioned fact
Page 206 and 207: 5.5.8.8.1 Credit risk Most of the G
Page 208 and 209: Changes in allowances for short-ter
Page 210 and 211: Contracts concluded for currency sw
Page 212 and 213: in € Capital management 31 Decemb
Page 214 and 215: Contacts Holding Slovenske elektrar
Page 218 and 219: NIP 5 Revised investment programme
Page 220: Holding Slovenske elektrarne d.o.o.
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Annual report - HSE

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