Annual Report - Končar Distribution and Special Transformers Inc.

Contents
I. MANAGEMENT BOARD REPORT ON COMPANY
POSITION IN 2012
1. INTRODUCTORY WORD BY THE MANAGEMENT BOARD ...................... 5
2. MAJOR 2012 FIGURES AND
THEIR COMPARISON WITH 2011, 2010 AND 2009 ................................. 6
3. ORGANISATION SCHEME IN 2012 .......................................................... 7
4. GENERAL POSITION OF THE COMPANY ................................................ 8
5. CORPORATE ORGANISATION AND MANAGEMENT IN 2012 .................. 9
6. CORPORATE GOVERNANCE CODE APPLICATION ................................. 9
7. MARKET POSITION AND SALES BY COUNTRIES
AND PRODUCT GROUPS .......................................................................10
8. FINANCIAL POSITION (BALANCE SHEET).............................................. 11
9. OPERATING RESULTS (PROFIT AND LOSS STATEMENT)
AND SHARE PRICE TRENDS ................................................................. 12
10. MAIN OPERATING RISKS ........................................................................13
11. INVESTMENTS AND TECHNOLOGY UPDATE ........................................ 14
12. TECHNICAL DEVELOPMENT AND PRODUCTS INNOVATION................ 15
13. QUALITY MANAGEMENT, ENVIRONMENT MANAGEMENT
AND OH&S MANAGEMENT.................................................................... 15
14. HUMAN RESOURCES .............................................................................16
15. FUTURE DEVELOPMENT STRATEGY..................................................... 16
II. DECLARATION AND DECISIONS PROVIDED BY LAW
1. DECLARATION BY PERSONS RESPONSIBLE
FOR PREPARATION OF 2012 ANNUAL REPORT ................................... 18
2. DECISION ON APPROVAL OF THE ANNUAL
FINANCIAL STATEMENTS FOR 2012 ..................................................... 19
3. DECISION ON ALLOCATION OF PROFITS FOR 2012 ............................ 20
III. AUDITOR’S REPORT AND
FINANCIAL STATEMENTS WITH NOTES
1. RESPONSIBILITY FOR THE FINANCIAL STATEMENTS .......................... 23
2. INDEPENDENT AUDITOR’S REPORT ..................................................... 24
3. FINANCIAL STATEMENTS .......................................................................26
Statement of comprehensive income ...................................................... 26
Statement of financial position ................................................................. 27
Statement of cash flows ...........................................................................29
Statement of changes in equity ............................................................... 30
4. NOTES TO THE FINANCIAL STATEMENTS ............................................ 31
2