Annual report - HSE

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Srednjesavske elektrarne d.o.o. (SRESA) Srednjesavske elektrarne d.o.o. Managing Director Main activity Supervisory Board composition as at 31/12/2012 Matjaž Janežič, M.Sc. Electricity production in HPP Marjanca Molan - President Marko Štrigl Primož Stropnik Janez Žlak Drago Polak Mitja Dušak The company SRESA was established in 2011 with its registered office on the location of TET. It was founded with the purpose of constructing HPP chain and exploitation of water energy potential for electricity production on the part of Sava water body from Ježica to Suhadol. The company’s operation will be particularly defined with the concession agreement (which has not been concluded yet) on the basis of which the company will manage the construction of new HPPs financially and forwardly. HPPs on the middle Sava River will considerably contribute to fulfilment of requirements under the EU directive on RES and will enable more flexible operation of the Slovenian electricity system. Annual Report HSE 2012 2 Business Report 38
TPP production Termoelektrarna Šoštanj d.o.o. (TEŠ) Termoelektrarna Šoštanj d.o.o. Managing Director Main activity Supervisory Board composition as at 01/01/2012 Supervisory Board composition as at 31/12/2012 Simon Tot, M.Sc. Production of electricity in thermal power plants Janez Keržan, M.Sc. - President Dean Besednjak, Ph.D. Klemen Potisek, M.Sc. Franc Rosec Aljoša Tomaž Branko Sevčnikar Roman Šturm, Ph.D. - President Janja Špiler Marjan Ravnikar, M.Sc. Aljoša Tomaž TEŠ is the largest thermal energy production facility in the HSE Group. Its main activity is electricity and thermal energy production for district heating. With a net output of 779 MW, TEŠ produces approximately a third of the country’s energy, and in critical periods it can meet more than half of the national demand. The average annual production of electricity ranges between 3,500 and 3,800 GWh. The average annual production of thermal energy for district heating of Šalek Valley ranges from 400 to 450 GWh. In terms of output, TEŠ is comparable to similar thermal power plants in Europe and even exceeds their operating unit availability. Moreover, the construction of replacement Unit 6, a 600 MW production facility, will additionally contribute to its positioning, as 30% less coal will be consumed for the same amount of energy produced, while emissions will decrease significantly (reduction of CO 2 emissions by app. 35% in comparison to other TEŠ units). Replacement Unit 6 will contribute also to decrease of environmental pollution and improvement of quality and energy efficiency, while it will allow TEŠ to reach compliance with international standards for the Best Available Technology. Erico d.o.o. is an associate of TEŠ. Annual Report HSE 2012 2 Business Report 39
Page 1: ANNUAL REPORT OF THE COMPANY HSE &
Page 4 and 5: Contents 7 8 9 10 13 13 14 15 1 Int
Page 7 and 8: What you see: Downpour What we see:
Page 9 and 10: 1.2 Report of the Supervisory Board
Page 11 and 12: Other important matters and issues
Page 13 and 14: 1.2.2 Monitoring and supervision of
Page 15 and 16: 1.3 Electricity production and trad
Page 17 and 18: HSE Group 2012 2011 IND 12 / 11 Net
Page 19 and 20: 1.5 Chronology of important events
Page 21 and 22: • On 19 October, an agreement on
Page 23: management. Immediately after the i
Page 26 and 27: 2.1 Controlling company 2.1.1 Profi
Page 28 and 29: 2.1.3 Management of the controlling
Page 30 and 31: 2.1.4 Corporate governance statemen
Page 32 and 33: • Supervising the integrity of fi
Page 34 and 35: HSE Group in western, central and s
Page 36 and 37: Hydro production Dravske elektrarne
Page 40 and 41: Termoelektrarna Trbovlje d.o.o. (TE
Page 42 and 43: PV Zimzelen d.o.o. is a retirement
Page 44 and 45: HSE Adria d.o.o. HSE Adria d.o.o. M
Page 46 and 47: Investments HSE Invest d.o.o. HSE I
Page 48 and 49: Regular cooperation with trade unio
Page 50 and 51: National, European and global frame
Page 52 and 53: 2.5.4 Achieving information securit
Page 54 and 55: performed with the help of market c
Page 56 and 57: Slovenian electricity market in 201
Page 58 and 59: The scope of trading on the Italian
Page 60 and 61: Long-term contracts and day-ahead m
Page 62 and 63: Structure of sources The electricit
Page 64 and 65: 2.9 Investments The HSE Group is bo
Page 66 and 67: At HPP Krško, the following activi
Page 68 and 69: Most of company’s investments wer
Page 70 and 71: Debt ratio The debt ratio is an imp
Page 72 and 73: The value of assets and total equit
Page 74 and 75: Equity to fixed assets ratio in €
Page 76 and 77: Debt-to-equity ratio in € 2012 20
Page 78 and 79: Operating fixed assets rate in €
Page 80 and 81: Net return on equity ratio (ROE) in
Page 82 and 83: 2.12 Risk management The HSE Group
Page 84 and 85: 2.12.2 Operating risks Market risk
Page 86 and 87: In 2012, risks were managed with th
Page 88 and 89:
Production management The HSE Group
Page 90 and 91:
Risk of investment activities The k
Page 92 and 93:
2.14 Research and development In 20
Page 94 and 95:
EU level Key activities: • EU Ren
Page 96 and 97:
2 Poslovno poročilo
Page 98 and 99:
3.1 Responsibility to employees In
Page 100 and 101:
Employees and the community Employe
Page 102 and 103:
Number of employees as at 31 Decemb
Page 104 and 105:
certificates on their behalf. In 20
Page 106 and 107:
2 Poslovno poročilo
Page 108 and 109:
4.1 Auditor’s report Annual Repor
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4.2 Statement of management’s res
Page 112 and 113:
4.4 Financial statements 4.4.1 Stat
Page 114 and 115:
4.4.4 Cash flow statement in € An
Page 116 and 117:
4.5 Notes to the financial statemen
Page 118 and 119:
4.5.3 Basis of measurement Company
Page 120 and 121:
4.5.7.2 Property, plant and equipme
Page 122 and 123:
4.5.7.4.2 Non-derivative financial
Page 124 and 125:
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
Page 130 and 131:
Investments in subsidiaries (3) in
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Significant amounts from statements
Page 134 and 135:
Short-term financial receivables fr
Page 136 and 137:
Other short-term assets (7) in €
Page 138 and 139:
Provisions for termination and jubi
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Short-term financial liabilities (1
Page 142 and 143:
Other current liabilities (15) in
Page 144 and 145:
Costs of goods, materials and servi
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Tax (24) The company is subject to
Page 148 and 149:
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
Page 156 and 157:
Sensitivity analysis of cash flow a
Page 158 and 159:
4.5.8.9 Fair values The company est
Page 160 and 161:
5.1 Auditor’s report for HSE Grou
Page 162 and 163:
5.2 Statement of management’s res
Page 164 and 165:
5.4 Consolidated financial statemen
Page 166 and 167:
5.4.4 Consolidated cash flow statem
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5.5 Notes to the consolidated finan
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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 216 and 217:
HSE BH d.o.o. Bulevar Meše Selimov
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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