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KD Holding Group Notes to Consolidated Financial Statements as at and for the year ended 31 December 2007 (in EUR) 2007 2006 Contribution to and from mutual funds Investments in mutual funds – associates 14,953,733 16,569,846 Investments in mutual funds – recognised at fair value through profit / loss 93,718,387 46,144,997 Share of profit of associates (Note 10) 2,107,111 2,654,565 Share of profit – recognised at fair value through profit / loss 15,282,347 6,630,850 33. Events after the balance sheet date made on 16 January 2008 for shares of KD Življenje (SZZR) and on 17 January 2008 for shares of Adriatic In January 2008 KD Holding d.d. took the decision of the Central Securities Clearing Corporation (KDD) to transfer shares because of the exclusion of minority shareholders of KD Življenje insurance company d.d. Slovenica d.d. (ADZR). By entry of the transfer of shares in the Central Corporation KD Holding became the sole shareholder of the companies Adriatic Slovenica d.d. and KD Živjenje d.d. and Adriatic Slovenica d.d. The transfer of shares from minority shareholders to main shareholder was Since the beginning of 2008 many activities in the Group which may cause disposal of Adriatic Slovenica d.d. have taken place. 317
KD Holding Group Consolidated Financial Statements as at and for the year ended 31 December 2007 318 Annual Report 2007 KD Holding Group Publisher: KD Holding, finančna družba, d. d., Celovška 206, 1000 Ljubljana Editing and production: KD Holding d. d. Concept and creative texts: Stojan Pelko, PhD., Korpus d. o. o. Creative concept and design: Katarina Klemen Kovačič, MSc. (KD Holding d. d.) Original photography: Arne Hodalič The photographs of the Group management were taken in the City Museum of Ljubljana, with which KD Holding collaborated, as a sponsor, on the installation of a permanent commemorative collection dedicated to Oton Župančič at the Oton Župančič Library in Ljubljana. Redaction: KD Holding d. d. and Korpus d. o. o. Translation: Amidas d. o. o. and Erica Johnson Debeljak Technical support: Prajs d. o. o. and Fotoformat Printed by: Collegium Graphicum d. o. o. Impression: 400 July 2007 The Annual Report of the KD Holding Group for 2007 is available at: www.kd-group.com. The Annual Report 2007 in English language is the translation of the Slovene version of the KD Holding Group Annual Report 2007, which is the legal version, approved by the supervisory board of KD Holding d. d. and published on the information system of the Ljubljana Stock Exchange (SEOnet).
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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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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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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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