DARS_porocilo 2007 ANG.indd

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Corporate Governance The managing bodies of the Company are: the General Meeting, the Supervisory Board and the Management Board. General Meeting The Government of the Republic of Slovenia acts as the General Meeting of DARS d.d.. Supervisory Board In line with the Motorway Company in the Republic of Slovenia Act (ZDARS — UPB1; Official Gazette of the Republic of Slovenia, no. 20, of 4 March 2004), the Supervisory Board is comprised of six members appointed by the General Meeting of the Company. Two members are proposed by the Ministry of Finance, two members are proposed by the Ministry of Transport, and two members are proposed from among employees in line with the Worker Participation in Management Act. On 28 December 2006 the Articles of Association of the Company were amended, whereby the number of members of the Supervisory Board was enlarged from six to nine members. At the end of 2007, the Supervisory Board of the Company was comprised of the following members: • Franc Slak, President • Ph.D. Tomaž Vidic, Deputy President • Robert Sever, Member • Simon Ošo, Member • Franc Capuder, Member • Vito Meško, Member • Dimitrij Likar, Member • Darko KodriË, Member • Zvonko IvanušiË, Member. After the amendment of the Company’s Articles of Association, the Workers’ Council elected at its meeting held on 6 February 2007 Dimitrij Likar as the representative of employees in the Supervisory Board of the Company. On 30 August 2007 the Government of the Republic of Slovenia recalled Dr. Peter VerliË after receiving his letter of resignation, and in his place appointed Robert Sever. On 16 October 2007 the Government of the Republic of Slovenia appointed Dr. Tomaž Vidic and Simon Oš as members of the Supervisory Board. On 22 November 2007 the Workers’ Council elected Darko KodriË as its new member in the Supervisory Board replacing Alojz Ratajc, who was relieved of his post in the Supervisory Board after being appointed to the Management Board (Workers’ Director) pursuant to a decision of the Government of the Republic of Slovenia adopted on 22 November 2007. After receiving Helena Kamnar’s letter of resignation from the post of member of the Supervisory Board, the Government of the Republic of Slovenia adopted a resolution on her resignation on 12 December 2007. Franc Capuder was appointed to the vacated post. 13 ANNUAL REPORT DARS d.d. 2007 INTRODUCTION
Management Board As laid down in the Company’s Articles of Association adopted on 28 December 2006, the Management Board of DARS d.d. is comprised of up to 5 members, one of whom is the Workers’ Director. In accordance with the Motorway Company in the Republic of Slovenia Act (ZDARS) and the Company’s Articles of Association, the members of the Management Board of DARS d.d. are appointed by the Government of the Republic of Slovenia on the proposal of the Supervisory Board. At the end of 2007, the Management Board of the Company was comprised of the following members: M.Sc. Tomislav Nemec, President Ph.D. Žan Jan Oplotnik, Deputy President Boštjan Rigler, Member Aleš Hojs, Member M.Sc. Alojz Ratajc, Member (Workers’ Director) Until 25 October 2007 the Company had a three-member Management Board comprised of: Rajko SiroËiË - President Abdon Peklaj, Member Aleš Hojs, Member On 25 October 2007 the Government of the Republic of Slovenia recalled Rajko SiroËiË, President of the Management Board, and Abdon Peklaj, Member of the Board. In their place, M.Sc. Tomislav Nemec was appointed President of the Board, Ph.D. Žan Jan Oplotnik was appointed Deputy President of the Board, and Boštjan Rigler was appointed Member of the Board. On 22 November 2007 the Government of the Republic of Slovenia appointed M.Sc. Alojz Ratajc as Member of the Board (Workers’ Director). Aleš Hojs retained his position as Member of the Board. 14 ANNUAL REPORT DARS d.d. 2007 INTRODUCTION
Page 1 and 2: A N N U A L R E P O R T 2 0 0 7
Page 3 and 4: Contents 6 9 10 11 11 12 13 13 13 1
Page 5 and 6: 66 66 67 67 68 69 69 69 70 71 73 74
Page 7 and 8: LETTER OF THE MANAGEMENT BOARD A Ye
Page 9 and 10: 8 LETNO ANNUAL PORO»ILO REPORT DAR
Page 11 and 12: Financial Highlights 2007 2006 Shar
Page 13: Organisation The organisation of th
Page 17 and 18: 16 LETNO ANNUAL PORO»ILO REPORT DA
Page 19 and 20: Mission, Vision, Strategic Goals, a
Page 21 and 22: Key Business Events in 2007 • In
Page 23 and 24: Analysis of Business Performance To
Page 25 and 26: Completed Construction and Reconstr
Page 27 and 28: Revenue of DARS d.d. 2007 Revenue T
Page 29 and 30: Shares of individual types of expen
Page 31 and 32: Business Activities of the Company
Page 33 and 34: International Cooperation Departmen
Page 35 and 36: Finance and Marketing Division Fina
Page 37 and 38: Toll Collection Division Toll colle
Page 39 and 40: The activities carried out in the a
Page 41 and 42: Within the scope of rehabilitation
Page 43 and 44: A new 48-fibre optical cable was in
Page 45 and 46: Owing to the exceptional increase i
Page 47 and 48: Environmental Management Environmen
Page 49 and 50: Staff Recruitments and Departures I
Page 51 and 52: 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
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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
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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
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Long-term liabilities from motorway
Page 103 and 104:
Short-term trade liabilities in EUR
Page 105 and 106:
Additional disclosures in the incom
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
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121 ANNUAL REPORT DARS d.d. 2007 AU
Page 123 and 124:
The Company does not implement the
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