Výročná správa 2008 - Transpetrol

TRANSPETROL, a. s. Financial statements
Šumavská 38 for the year ended 31 December 2008
821 08 Bratislava
21
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c1) Contribution to the register capital of subsidiary company BSP
c2) Non-current financial assets in the course of acquisition
142,079 55,772
(capitalization of loan of BSP) -
88,284
c3) Contribution to the register capital of the associate SWS 24,002 24,002
c4) Contribution to the register capital of the company Energotel 11,000 11,000
c5) Trade receivables 15,688 13,691
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c6) Trade liabilities 5,971 6,905
c7) Liabilities to shareholders from profit distribution 1,138,195 1,138,195
c8) Deferred income 62,278 71,298
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At 31 December 2008, the Company records financial investment in BSP Bratislava-Schwechat Pipeline GmbH (BSP)
amounting to SKK 142,079 thousand. The financial investment was used by BSP to finance the project Construction of
the Bratislava - Schwechat pipeline. Management of the Company believes that the project will continue in its originally
proposed alternative and is confident about the return on the investment. Management of the Company believes that
BSP will achieve revenues from the pipeline operation in the future and will thus ensure an increase of the value for
shareholders. The Company therefore released the provision in full amount as of 31 December 2008 (as of 31 December
2007: SKK 14,343 thousand).
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The Slovak Republic adopted euro currency as the exclusive legal currency in the country as of 1 January 2009. The
conversion
from Slovak crowns to the Euro, including the valuation of assets, liabilities, and equity,
was effected using
the agreed conversion rate of 1 EUR = 30.1260 SKK.
The General meeting approved the conversion of share capital to euro in amount 63,068,600 EUR effective as of 1
January 2009.
After 31 December 2008, no other significant events have occurred that would require recognition or disclosure in the
2008 financial statements.