ANNUAL REPORT - HSE

Corporate income tax
€ 14,022,776
In 2008 seven group companies in Slovenia and four
out of five abroad were liable to pay corporate income
tax. Owing to tax breaks or tax losses, the remaining
companies did not calculate the basis for the payment
of the tax.
At the end of 2008, the group companies’ unused tax
losses stood at € 35,583,792.
Deferred taxes
€ 4,992,938
Deferred taxes relate to deferred tax assets recognised
in the likely amount of available profit against
which they can be used in the future. Deferred tax assets
are decreased by the amount up to which it is no
longer probable that tax deductible expenses can be
utilised in the future or the amount up to which expenses
have been included in tax statements for the
current year. The amount of € 4,992,938 relates to the
creation and use of deferred tax assets by HSE Group
companies in 2008.
Net profit or loss
€ 74,515,214
Net profit or loss relates to the net profit or loss of the
controlling company (€ 53,756,215), the controlling
company’s share of profits or losses of its subsidiaries
(€ 47,484,324), decrease in profit or loss as a result of
the elimination of the controlling company’s finance
income associated with the payment of shares of profit
of subsidiaries and other effects on the consolidated
profit or loss during consolidation (€ -27,439,257), and
net profit or loss of minority owners (€ 713,932).
Profit or loss of the Group
in €
TYPE OF PROFIT OR LOSS YEAR 2008 YEAR 2007
Operating profit or loss 116,771,920 66,499,803
Profit or loss on ordinary activities 89,311,239 83,561,737
Profit or loss on extraordinary activities 4,219,689 -336,941
Total profit or loss 93,530,928 83,224,796
Net profit or loss for the accounting period 74,515,214 84,071,741
- of which majority owner 73,801,282 83,461,018
- of which minority owner 713,932 610,723
ANNUAL REPORT HSE | FINANCIAL REPORT OF THE HSE GROUP
165