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KD Holding Group Notes to Consolidated Financial Statements as at and for the year ended 31 December 2007 5.2.3 5.2.3 Sensitivity analysis 2007 (in EUR) Impact on profit before tax Impact on equity change in interest rate by + 25 bt (295,647) (1,829,762) change in interest rate by - 25 bt 171,261 1,805,234 + 5% change in the price of shares 7,671,805 9,847,313 - 5% change in the price of shares (7,671,805) (9,847,313) Change in management fee (investment + 5%) 722,067 - Change in management fee (investment -5%) (722,067) - 2006 (in EUR) Impact on profit before tax Impact on equity change in interest rate by + 25 bt (214,560) (1,995,402) change in interest rate by - 25 bt 211,385 1,949,627 + 5% change in the price of shares 4,950,922 6,782,550 - 5% change in the price of shares (4,950,922) (6,782,550) Change in management fee (investment + 5%) 464,864 - Change in management fee (investment -5%) (464,864) - 275
KD Holding Group Notes to Consolidated Financial Statements as at and for the year ended 31 December 2007 5.2.4 Currency risk The Group takes on exposure to effects of fluctuations in the prevailing foreign currency exchange rates on its financial position and cash flows. The Group’s currency risk is not considered to be significant due to the fact that Slovenia has been in the ERM2 The table below summarises the Group’s exposure to foreign currency exchange rate risk as at 31 December. Included in the table are the Group’s financial assets and financial and insurance liabilities in carrying amounts, categorised by currency. system with fixed foreign currency rates and the euro was introduced in Slovenia on 1 January 2007. 276 2007 (in EUR) EUR Other Total Assets Financial assets at fair value through P&L 143,040,153 32,985,472 176,025,625 - Equity securities 120,450,634 32,985,472 153,436,106 - Debt securities 22,589,519 - 22,589,519 Available for sale 294,319,323 22,895,005 317,214,328 - Equity securities 174,765,769 22,180,508 196,946,277 - Debt securities 119,553,554 714,497 120,268,051 Held to maturity 7,590,164 - 7,590,164 - Debt securities 7,590,164 - 7,590,164 Investment property 20,601,521 - 20,601,521 Loans and receivables 129,018,868 6,672,103 135,690,971 Reinsurance assets 11,004,824 - 11,004,824 Cash and cash equivalents 22,623,434 6,774,683 29,398,117 Total assets 628,198,287 69,327,263 697,525,550 Liabilities Debt securities (issued) 75,368,725 - 75,368,725 Loans 88,463,016 418,941 88,881,957 Derivative financial instruments 6,312,735 - 6,312,735 Insurance contracts 306,070,319 303,468 306,373,787 Insurance contracts with DPF 62,446,521 101,505 62,548,026 Investment contracts with DPF 15,588,746 15,528 15,604,274 Total liabilities 554,250,062 839,442 555,089,504
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“With extended pictures and image
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Contents Company profile Important
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Company profile Parent company: KD
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Sales of financial services Last ye
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When we gathered together at the fi
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Management Team 14 Janez Bojc, Depu
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16 Aljoša Tomaž, Assistant to the
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18 Matija Šenk, President of the M
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KD Holding Group key divisions Inve
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Companies in the KD Holding Group b
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24 Piran saltpans, Slovenia
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26 Ljubljanica River, Slovenia
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2005 Establishment of the first spe
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30 Key events in 2007 January The o
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November KD Investments in Slovenia
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34 Old city centre, Ljubljana, Slov
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1. Poslovno poročilo Skupine KD Ho
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1.1 Strategic orientations of the K
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Continuing along the same path in 2
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Share price movement There were 3,2
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Ownership structure The largest sha
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1.3 Corporate governance report Res
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Alojz Penko Alojz Penko was first a
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The members of the Management Board
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7. AUDITING AND THE SYSTEM OF INTER
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Highlights from the income statemen
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Sales revenue Sales revenue 8 amoun
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Operating expenses Operating expens
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Net profit by business segment in 2
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Financing Due to the high growth in
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1.5 Risk Management 64 The Manageme
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66 Parameters defining the insuranc
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68 Bratislava, Slovakia
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70 Croatian Istria - portrait
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1.6 Human resource management At th
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Employee educational structure More
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Number and educational structure of
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78 Kalemegdan - Belgrade, Serbia
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80 Belgrade, Serbia
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1.7 Corporate communications Intern
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1.8 Information support using the s
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to Fondpolica investment funds with
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88 Belgrade, Serbia
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cultural institutions and with indi
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The main focus at Adriatic Slovenic
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Corporate social responsibility in
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Kalemegdan - Belgrade, Serbia 97
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Slovenija - solinar Fisherman, isla
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Celica Hostel, Ljubljana, Slovenia
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2. Operations of the companies with
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107
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In asset management business, our i
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2. 1 Asset management The Group’s
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Challenges in 2008: Maintaining our
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Slovenia KD Investments, družba za
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KD Rastko - an equity mutual fund A
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second half of the year, prices beg
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The structure of the portfolio, com
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Croatia KD Investments d. o. o., Za
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KD Adria Bond, - a bond mutual fund
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Slovakia KD Investments, správ. sp
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Bratislava, Slovakia 127
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Romania SAI KD Investments Romania,
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KD Multifond - a fund of funds At t
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Bulgaria KD Investments EAD, Sofia
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KD Equity Bulgaria - an equity mutu
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Serbia KD Investments, a. d., Belgr
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Slovenia KD BPD, borznoposredniška
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We successfully responded to Sloven
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Bulgaria KD Securities EAD, Sofia N
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Our insurance activities embody the
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147
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Structure of insurance within KD Ho
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Structure of health insurance premi
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was above average in terms of reput
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In 2007 Adriatic Slovenica’s work
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Structure of KD Življenje premiums
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Romania KD Life Asigurari S. A., Bu
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Slovakia KD LIFE, Insurance company
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Eastern Orthodox priest, Macedonia
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Do you think it is possible to comb
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Operations in 2007 To increase sale
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Terazije, Belgrade, Serbia 169
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But we also build literally: we hav
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Investment strategy The amount inve
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Closed-end Investment fund BIG d. d
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Challenges in 2008: The company’s
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179
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Challenges in 2008: To obtain the r
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may choose between the following ma
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A selection of the most important a
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The company designed, developed and
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Sofia, Bulgaria 189
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KD Holding Group Consolidated Finan
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KD Holding Group Notes to Consolida
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