annual report 2004 - Severočeské doly a.s.

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66 —— 67 The effect on retained earnings of differences in IFRS and CAS is as follows (in CZK million): <strong>2004</strong> 2003 Consolidated retained earnings per statutory accounts at end of year 7,655 8,644 Adjustments required by IFRS: Reclassification of items from retained earnings, net (228) (150) Repairs and maintenance accrual, net of deferred tax 1,349 1,314 Provision for decommissioning, reclamation and mining damages, net of deferred tax (4,828) (3,938) Capitalized costs of provisions, net of deferred tax 1,753 1,755 Interest income of available-for-sale investments (55) (56) IFRS retained earnings at end of year 5,646 7,569 The effect on net profit of differences in IFRS and CAS is as follows (in CZK million): <strong>2004</strong> 2003 Consolidated net profit per statutory accounts 1,194 1,390 Adjustment required by IFRS: Reclassification of items from retained earnings, net (158) (92) Repairs and maintenance accrual, net of deferred tax 35 356 Provision for decommissioning, reclamation and mining damages, net of deferred tax (890) (412) Depreciation of capitalized costs of provisions, net of deferred tax (2) 197 Interest income of available-for-sale investments — (28) IFRS net profit 179 1,411
Post Balance Sheet Date Events January 2005 — routine operation of the new SAP information system kicks off — as of 1 January, the company applies International Accounting Standards in its accounting and in the preparation of financial statements — approval and launch of the programme ‘Optimization of the Maintenance and Number of Category D Workers’ March 2005 — approval of the business plan for 2005 — approval of the business plans of subsidiaries for 2005 — General Meetings of subsidiaries held April 2005 — public contract for asset insurance granted to Kooperativa, pojišťovna, a.s. May 2005 — addendum to the long-term purchase agreement with ČEZ signed June 2005 — Annual General Meeting — approval of a dividend of CZK 240 per share — change in the composition of Company bodies
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SEVEROČESKÉ DOLY a.s. — annual
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Severočeské doly a.s. is the larg
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RAM The operating part of a heavy t
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CONCERTINA The protective concertin
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Most Important Events of 2004 Janua
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10 —— 11 Interview with the Cha
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12 —— 13 Directors and Officers
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14 —— 15 Jaroslav Volšický (*
Page 18 and 19: 16 —— 17 Executive Management T
Page 20 and 21: 18 —— 19 Company Profile Severo
Page 22 and 23: 20 —— 21 Report of the Board of
Page 24 and 25: 22 —— 23 Sales and Marketing Sa
Page 26 and 27: 24 —— 25 Product structure (%)
Page 28 and 29: 26 —— 27 Developments in coal e
Page 30 and 31: 28 —— 29 Developments in invest
Page 32 and 33: 30 —— 31 How Investments are Fi
Page 34 and 35: 32 —— 33 Employee education str
Page 36 and 37: 34 —— 35 municipalities and oth
Page 38 and 39: 36 —— 37 tion plants based on t
Page 40 and 41: 38 —— 39 on the innovation of t
Page 42 and 43: 40 —— 41 Financial Performance
Page 44 and 45: 42 —— 43 sumption of materials
Page 46 and 47: 44 —— 45 Shares and Shareholder
Page 48 and 49: 46 —— 47 Right to a Dividend 1.
Page 50 and 51: 48 —— 49 Strategy and Outlook f
Page 52 and 53: 50 —— 51 Outlook for 2005 Terri
Page 54 and 55: 52 —— 53 Report of Independent
Page 56 and 57: 54 —— 55 Consolidated Statement
Page 58 and 59: 56 —— 57 Notes to Consolidated
Page 60 and 61: 58 —— 59 Held-to-maturity inves
Page 62 and 63: 60 —— 61 Segments The Group has
Page 64 and 65: 62 —— 63 6. Investments in Asso
Page 66 and 67: 64 —— 65 Deferred Taxes, Net At
Page 70 and 71: 68 —— 69 Cash and In-kind Incom
Page 72 and 73: 70 —— 71 Organizational Chart G
Page 74 and 75: 72 —— 73 Shareholder Financial
Page 76 and 77: 74 —— 75 Persons Responsible fo
Page 78: Consulting and production: © B.I.G
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