hse group

58 In accordance with the agreement of
Capital of the Company as of 31 December 2002
the Supervisory Board, the Management
in SIT 000
Board of the Company distrib-
Share capital 1,156,217 uted 50% of net profit of the financial
Capital reserves 166,070,474
year amounting to SIT 6,142,502,000
to other revenue reserves. The other
Other revenue reserves 6,142,502
50% of net profit for the financial year
Net profit / loss 6,142,502 amounting to SIT 6,142,502,000 is distributable
General equity revaluation adjustment
Specific equity revaluation adjustment
27
2,423,207
net profit.
Short-term liabilities
SIT 9,685,165,000 5.04% of liabilities
Profit / loss in 2002
in SIT 000
Net profit / loss 12,285,004
Profit / loss upon restatement by means of EUR 5,637,746
Profit / loss upon restatement by means
of cost of living 320,793
Distributable net profit of HSE in 2002
in SIT 000
a) Net profit for the financial year 12,285,004
b) Net profit / loss carried forward 0
c) Decrease in revenue reserves 0
Ë) Increase in revenue reserves in accordance with the decision of the Management
Board (legal reserves, reserves for own shares and statutory reserves) 0
d) Increase in revenue reserves in accordance with the decisionof the Management
Board and the Supervisory Board (other revenue reserves) 6,142,502
e) Distributable net profit (a+b+c-Ë-d) 6,142,502
Short-term operating liabilities appear
since suppliers deliver goods that are
needed in the production and for the
provision of services. Initially, they are
carried at amounts recorded in the
relevant documents, assuming that
the creditors demand their payment.
95% of total short-term liabilities of the
Company represent liabilities for the
supply of electric and thermal energy,
coal and for its processing in electric and
thermal energy.
The book value of short-term liabilities
is equal to their historical value, corrected
by their increases or decreases,
in accordance with the agreements
reached with the creditors, until the
need for their revaluation appears.
Revaluation of short-term operating liabilities
expressed in foreign currencies
is carried out if the exchange rate has
changed after the initial recognition.
Exchange losses/gains that appear may
increase or decrease the initially presented
value and presents regular financial
revenues or regular financial expense.
Short-term operating liabilities expressed
in foreign currencies are translated
on the date of their accrual at the middle
exchange rate of the Bank of Slovenia
ruling on the respective date.
Short-term operating liabilities as of 31 December 2002
in SIT 000
Short-term liabilities to suppliers 9,625,007
Short-term liabilities to employees 47,199
Short-term liabilities to the state 12,265
Other short-term liabilities 694