DARS_porocilo 2007 ANG.indd

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Liabilities from the use of company-owned assets to finance state-owned assets under management In the balance sheet of state-owned assets under management, the State’s liabilities to the Company arising from the use of company-owned assets to finance state-owned assets are recorded in the amount of EUR 2,972,287. In the balance sheet of company-owned assets, the Company’s receivables from the State are recorded in the same amount. The State’s liabilities include: • 2008 concession tax, transferred in advance, payable in the amount of EUR 3,253,866, • 2007 remuneration payable under the Agreement on the Performance of Contracts in the amount of EUR 1,020,465 (this liability was settled in the beginning of 2008). 104 ANNUAL REPORT DARS d.d. 2007 FINANCIAL REPORT
Additional disclosures in the income statement of DARS d.d. Net sales in EUR 2007 2006 in % Index (without cents) 2007/2006 Revenue from tolls 174,719,492 151,951,470 84 115 Revenue from rentals 4,380,392 3,988,316 2 110 Revenue from road closure and overweight load transports 1,406,321 1,229,410 1 114 Revenue from easements 162,073 67,069 0 242 Revenue under agency agreement 26,398,091 17,882,299 12 148 Other sales revenue 1,813,528 202,069 1 897 Total 208,879,897 175,320,633 100 119 Revenue from tolls amounted to EUR 174,719,492 or 84% of the total sales in 2007. They were up 15% over the previous year’s figure. Revenue from tolls was followed by revenue under the Agreement on the Performance of Contracts, which accounted for 12% of net sales and were up 48% compared to 2006. To implement an order under the Agreement on the Performance of Contracts, the Company is entitled to remuneration from the State in an amount equal to 5.49% of the value of motorway construction and reconstruction works defined in the current Annual Motorway Development and Reconstruction Plan (AMDRP). Monthly advance payments are effected on the basis of the value of works under the AMDRP. The final statement of account is prepared on the basis of realised works as stated in the annual report on implementation of the AMDRP presented to the National Assembly. The remuneration stipulated in the Agreement on the Performance of Contracts increases or decreases in line with the contractual provisions on cost-related incentives and cost-related penalties. In line with the contractual provisions, the relevant sales revenue is charged to the Ministry of Transport and the payment is effected by transferring the funds from the transaction account for motorway construction to the transaction account of the Company. Revenue from rentals (for the lease of motorway service areas and base stations) is generated by the lease of land alongside motorways for the provision of catering services and the erection of petrol service stations. Revenue from rentals increased by 10% compared to 2006. The prices are set subject to public tenders. Sales also include revenue from road closures and overweight load transports in the amount of EUR 1,406,321, and revenue from easements in the amount of EUR162.073. Other sales in the amount of EUR 1,813,528 include revenue from the sale of ETC tags, revenue from telecommunications, revenue from towing, snow ploughing and clearing road accidents, revenue from rentals for holiday facilities and apartments, revenue from the sale of waste material, and other sales revenue. Net sales were earned entirely in the domestic market. 105 ANNUAL REPORT DARS d.d. 2007 FINANCIAL REPORT
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A N N U A L R E P O R T 2 0 0 7
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Contents 6 9 10 11 11 12 13 13 13 1
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66 66 67 67 68 69 69 69 70 71 73 74
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LETTER OF THE MANAGEMENT BOARD A Ye
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8 LETNO ANNUAL PORO»ILO REPORT DAR
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Financial Highlights 2007 2006 Shar
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Organisation The organisation of th
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Management Board As laid down in th
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16 LETNO ANNUAL PORO»ILO REPORT DA
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Mission, Vision, Strategic Goals, a
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Key Business Events in 2007 • In
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Analysis of Business Performance To
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Completed Construction and Reconstr
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Revenue of DARS d.d. 2007 Revenue T
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Shares of individual types of expen
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Business Activities of the Company
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International Cooperation Departmen
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Finance and Marketing Division Fina
Page 37 and 38:
Toll Collection Division Toll colle
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The activities carried out in the a
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Within the scope of rehabilitation
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A new 48-fibre optical cable was in
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Owing to the exceptional increase i
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Environmental Management Environmen
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Staff Recruitments and Departures I
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50 ANNUAL REPORT DARS d.d. 2007 FIN
Page 53 and 54: Notes to the Financial Statements T
Page 55 and 56: Accounting Policies The financial s
Page 57 and 58: Depreciation / Amortisation The car
Page 59 and 60: Short-term investments In accordanc
Page 61 and 62: Short-term Operating Liabilities Sh
Page 63 and 64: Expenses Expenses are recognised if
Page 65 and 66: Valutation Method Applied to the St
Page 67 and 68: Short-term Investments in other Ent
Page 69 and 70: Long-term Operating Liabilities Ari
Page 71 and 72: Financial Statements of DARS d.d. T
Page 73 and 74: in EUR 31 Dec 2007 31 Dec 2006 (wit
Page 75 and 76: Consolidated cash flow statement fo
Page 77 and 78: Statement of changes in equity in t
Page 79 and 80: Notes to the Financial Statemants N
Page 81 and 82: Intangible assets Intangible assets
Page 83 and 84: Pursuant to the Concession Agreemen
Page 85 and 86: Short-term operating receivables in
Page 87 and 88: Equity The movement in equity is sh
Page 89 and 90: Short-term operating liabilities in
Page 91 and 92: Notes to the balance sheet of state
Page 93 and 94: Property, plant and equipment and i
Page 95 and 96: Off balance sheet items Off balance
Page 97 and 98: a) Borrowings from the Consortium o
Page 99 and 100: h) Borrowings from Kreditanstalt f
Page 101 and 102: Long-term liabilities from motorway
Page 103: Short-term trade liabilities in EUR
Page 107 and 108: Costs of materials and services in
Page 109 and 110: The remunerations of members of the
Page 111 and 112: Income tax Income tax is levied und
Page 113 and 114: Events after the Balance Sheet Date
Page 115 and 116: 115 ANNUAL REPORT DARS d.d. 2007 FI
Page 117 and 118: 117 ANNUAL REPORT DARS d.d. 2007 AU
Page 119 and 120: 119 LETNO PORO»ILO DARS d.d. 2007
Page 121 and 122: 121 ANNUAL REPORT DARS d.d. 2007 AU
Page 123 and 124: The Company does not implement the
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