hse group

92 long-term liabilities and expenses for
the revaluation of these liabilities.
Financial expenses among the Group
enterprises amounting to SIT 25,000
were excluded in the consolidation process.
Tax on profit
SIT 4,665,000
Three companies in the Group presented
liabilities for tax on profit for 2002
and other companies did not establish
any basis for its payment.
Net profit
SIT 14,389,006,000
Net profit of the Group presents net profit
of the parent company amounting to
SIT 12,285,004,000 and shares of the
parent company in the net profit of subsidiaries
amounting to SIT 2,423,207,000.
It was decreased by the consolidated
profit/loss of other (minority) owners in
the Group amounting to SIT 319,205,000.
The share in net profit of the subsidiaries
was not eliminated in the consolidation
process, since the parent
company presents these shares among
the specific revaluation adjustments in
the balance sheet.
Segments
The Group breaks down the operations
into two geographical segments.
Net sales revenues are divided into:
• Domestic market
SIT 72,398,586,000
• Foreign market
SIT 26,042,119,000
The Group breaks down the operations
into two business segments.
Net sales revenues are divided into:
• Sale of electric energy
SIT 87,591,168,000
• Other
SIT 10,849,537,000
6.7.3 Consolidated cash
flow statement
General
The consolidated cash flow statement
has been prepared by applying the indirect
method (version II in the SAS 26) on
the basis of the data from the consolidated
balance sheet as of 31 December 2002,
consolidated balance sheet as of 31
December 2001 the consolidated income
statement for the year 2002, as well as
the additional data required for the adjustment
of inflows and outflows and for the
suitable itemisation of significant items.
The increase in capital presented among
the inflows from financing activity
amounting to SIT 2,154,401,000 does
not denote any cash flow, but is a consequence
of other companies joining the
Group and of an increase in capital of the
parent company by means of an investment
in kind.
The Group did not prepare the consolidated
cash flow statement for the year 2001,
since it prepared consolidated financial
statements for the first time and had not
adequate basis for its preparation in the
consolidated balance sheet of the previous
year. Therefore the Group does not
present data for the previous year in consolidated
cash flow statement.
6.7.4 Consolidated statement
of changes in equity
The consolidated statement of changes
in equity presents changes in the elements
of capital in the financial year.
The consolidated statement of
changes in equity was prepared in accordance
with version II in SRS 27.
All items in the statement of changes
in equity, except capital of minority
owners, are presented in the financial
statements of the parent company.
Participation in profit/loss of the Group
enterprises and changes in ratios of
ownership shares influence the change
in equity of minority owners in 2002.