Å kodaAuto ANNUAL REPORT 2006 - Skoda Auto

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Remuneration of the Management Staff and Supervisory Board of Škoda Auto Act No. 256/2004 Coll. On Business Activities on the Capital Market, as amended, requires public companies to disclose, inter alia, information on all monetary and in-kind income received by executives for the accounting period, separately for all members of the Board of Directors and of the Supervisory Board, including the principles under which such remuneration was paid. Remuneration Principles Under the terms of said Act, the amounts so disclosed include income received from the issuer itself as well as any income that may have been received from other companies of the Škoda Auto Group in return for work done for the benefit of ŠKODA AUTO a.s. The fixed component of compensation provides members of the Board of Directors with a monetary base income to allow them to perform the duties of their office in the Company’s interests, without being exclusively dependent on the Company’s short-term success criteria. In addition to the fixed compensation component consisting of wages, compensation also includes a variable component in the form of bonuses. This variable component, which is largely determined by the Company’s financial performance results, guarantees that the Board of Directors’ interests are in line with those of the shareholders. As of the publication date of the 2006 Annual Report, bonuses relating to the accounting period and the meeting of targets set for 2006 had not been approved; they will be paid in 2007. For this reason, the amounts given below contain bonus amounts relating to 2005 performance that have actually been paid. During 2006, members of the Board of Directors and Supervisory Board also received in-kind income in the form of company cars, accommodation, and training programmes. The Company did not extend any loans to the Board of Directors/Supervisory board members. All income, whether monetary and in-kind, received by the Board of Directors/Supervisory board members by virtue of their position at ŠKODA AUTO a.s., received from the issuer or other companies of the Škoda Auto Group, was as follows: in CZK 2005 2006 Members of the Board of Directors 13,649,159 16,516,138 Members of the Supervisory Board 1,223,196 1,278,278 134
GLOSSARY OF TERMS AND ABBREVIATIONS CAS Czech Accounting Standards for businesses and other regulations valid in the Czech Republic, in particular Act No. 563/1991 Coll. on Accounting and Decree No. 500/2002 Coll. Company The word “Company” in this annual report is used as a synonym for the company name ŠKODA AUTO a.s. Consolidation Group In addition to ŠKODA AUTO a.s. with its seat in Mladá Boleslav, the consolidation group includes all material subsidiaries and associates. Deliveries to customers Number of Škoda brand vehicles handed over to end customers. e-learning A training method that utilises electronic learning programs on personal computers. ESP Electronic stabilising system – a vehicle system that utilises the capabilities of the brakes’ antiblocking and antiskid system. FIA International Automobile Federation. For Motion Plus A Volkswagen Group programme that aims to improve profits by focusing in particular on cost-cutting. Gross cash flow Operating cash flow adjusted for changes in working capital. Gross liquidity Liquid funds, i.e. cash and cash equivalents, including short-term lendings. Group The expressions “Group” and “Škoda Auto Group” in the annual report are used as synonyms for the Škoda Auto consolidation group. IAA Frankfurt International motor show held annually in Frankfurt-am-Main, Germany. IAS, IFRS International Financial Reporting Standards, as approved by the European Union. 135
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SIMPLY CLEVER MORE ROOM... ŠkodaAu
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Even in the dynamic life of an auto
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SELECTED DATA AND FINANCIAL FIGURES
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Another major step was made in May
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ŠKODA AUTO GROUP PROFILE Who We Ar
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Where We Stand Since being acquired
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From left: Martin Jahn, Harald Luda
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Dipl.-Ökonom Fred Kappler (*1958)
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REPORT OF THE SUPERVISORY BOARD Dur
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FOR GROWTH Our road leads literally
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The Czech National Bank increased i
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Risk Management System The Škoda A
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Non-current liabilities were down 4
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Consolidated Balance Sheet (CZK mil
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Škoda Auto Deutschland 2006 was a
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The New Škoda Fabia Successor The
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Purchasing The key criterion of Šk
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FOR CHALLENGES To make cars that ar
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Vehicle Production For the first ti
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Quality Measuring vehicle body part
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Czech Republic The overall passenge
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Vehicle Customer Deliveries by Mode
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FOR LIFE Human beings are always at
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Personal Development and Continuing
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Sponsorship and Corporate Citizensh
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The Environment Škoda Auto has a l
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Water consumed and wastewater disch
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FOR THE FUTURE Life around us is in
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Production and Logistics Human Reso
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AUDITOR’S REPORT ON THE ANNUAL RE
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CONSOLIDATED INCOME STATEMENT FOR T
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CONSOLIDATED STATEMENT OF CHANGES I
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NOTES TO THE CONSOLIDATED FINANCIAL
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1.3 Details of the Group In additio
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1.6 Intangible assets Purchased int
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(d) Available-for-sale financial as
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1.11 Deferred income tax Deferred i
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1.16 Revenue and expense recognitio
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1.21 Financial risk management The
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Goodwill Capitalised Capitalised Ot
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5. Investments in associates The Co
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10. Share capital The subscribed ca
Page 85 and 86: Interests and principal of bonds ar
Page 87 and 88: 15. Deferred tax liabilities and as
Page 89 and 90: 17. Cash flow statement The cash an
Page 91 and 92: Reconciliation of expected to effec
Page 93 and 94: 27. Related party transactions Rela
Page 95 and 96: Receivables from related parties (C
Page 97 and 98: 28. Other information (CZK million)
Page 99 and 100: INCOME STATEMENT FOR THE YEAR ENDED
Page 101 and 102: STATEMENT OF CHANGES IN EQUITY FOR
Page 103 and 104: NOTES TO THE FINANCIAL STATEMENTS 2
Page 105 and 106: 1.3 Foreign currency translation Fu
Page 107 and 108: (c) Held-to-maturity investments He
Page 109 and 110: 1.9 Deferred income tax Deferred in
Page 111 and 112: 1.14 Revenue and expense recognitio
Page 113 and 114: Hedging of foreign currency risks R
Page 115 and 116: 4. Property, plant and equipment (C
Page 117 and 118: Derivative financial instruments Th
Page 119 and 120: 13. Non-current and current financi
Page 121 and 122: 15. Other non-current and current l
Page 123 and 124: Non-current and current provisions
Page 125 and 126: 23. Income tax (CZK million) 2006 2
Page 127 and 128: 28. Related party transactions Rela
Page 129 and 130: Receivables from related parties (C
Page 131 and 132: 29. Other information (CZK million)
Page 133 and 134: 2. Purchase of goods and services a
Page 135: Other legal acts In the accounting
Page 139 and 140: PERSONS RESPONSIBLE FOR THE ANNUAL
Page 141 and 142: Financial Figures At a Glance, Acco
Page 143 and 144: EVENTS ANTICIPATED IN 2007 January
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Å kodaAuto ANNUAL REPORT 2006 - Skoda Auto

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