hse group

1. KEY ACHIEVEMENTS FOR THE FINANCIAL YEAR
In 2002 HSE Group and accordingly
also HSE as the parent company managed
to achieve a majority of the goals
as set down at the company’s founding
in July 2001 by the Government of the
Republic of Slovenia. Improved competitiveness
of HSE Group in a deregulated
electricity market isshown in the
amount of total accumulated profit;
especially in the field of an industry,
which has been marked by substantial
losses. Taking advantage of synergies
between the power generation - hydro
and thermal - companies within the
HSE Group has proven to provide the
Group with the most substantial competitive
edge at the very beginning of
its existence. Today the benefits of a
unified front approach taken by the HSE
Group in the domestic power distribution
market are displayed primarily
through the reduction of negative financial
influences of unavailability. This
was achieved by combining different
production sources, optimizing production
capacities to suit the current
market conditions, providing a more
comprehensive range of electricity products,
reduced risks in relation to longterm
contracts along with improved
opportunities for entering foreign markets.
Construction of the chain of
hydropower plants (HPPs) in the lower
part of the Sava river, which will consist
of, in addition to the already existing
Vrhovo HPP, five new hydropower
plants (Boπtanj HPP, Blanca HPP, Krπko
HPP, Breæice HPP, Mokrice HPP) had
started within the scheduled time limits,
on 22 November 2002, with the
signing of an agreement for the execution
of preparatory works for Boπtanj
HPP that took place in Sevnica. The
joint preparation of business plans for
the 2003 financial year is also the beginning
of an operational rationalization and
the process of raising the level of competitiveness
among the Slovenian
power and coal producing companies.
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Key information for the financial year 2002 in numbers
Total revenues in SIT 000 91,871,498
Operating profit in SIT 000 12,729,126
Net profit in SIT 000 12,285,004
Distributable net profit in SIT 000 6,142,502
Assets in SIT 000 191,964,427
Capital in 000 SIT 181,934,929
Operating cash flow in SIT 000 10,621,973
Market share in % 62
Electricity sale in GWh 9,332
Added value in SIT 000 13,353,741
Average number of employees 48
Investments in fixed assets in SIT 000 656,318