DARS_porocilo 2007 ANG.indd

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Strategic Goals The strategic goals of the Motorway Company in the Republic of Slovenia are: • to preserve and develop the leading position in the management and maintenance of motorways in Slovenia; • to become a reference company in state ownership specialising in the organisation of motorway construction and other infrastructure projects; • to ensure, by rational and economically justified development of the toll collection system, the maximum share of concession funds required for the repayment of loans raised for motorway construction; • to strengthen the financial engineering of debt management; • to sustainably develop and improve standards and procedures for the operation and maintenance of motorways; • to place the users of motorways and their desires and needs, as well as environmental concerns, at the centre of its business operations, • to reorganise and optimise the staff structure in order to facilitate the performance of existing activities and business functions, as well as the development of new services. It shall further be necessary to provide effective solutions for the implementation of the National Motorway Construction Programme, namely: • a concept of development and marketing of integral services for users, • identification and implementation of capital and other forms of business links, • staff development and motivation. Quality Policy Through the professional and responsible performance of tasks, the Management and staff of the Company are fulfilling the requirements and expectations of the Company’s owners and the users of our services. Our aim is to offer high-quality and integral services to all our customers. This is being achieved in the following ways: • making responsible decisions, • establishing appropriate conditions and relations within and outside the Company, • carefully selecting qualified partners, • consistently complying with legislation and development policies, • supporting the development of the profession and acquiring new knowledge, and • committing ourselves to environmental protection and friendly mutual relations. 19 ANNUAL REPORT DARS d.d. 2007 BUSINESS REPORT
Key Business Events in 2007 • In 2007 the following motorway sections and other roads were brought into service: — the Hajdina — Ptuj two-lane road in a length of 2.3 km, including a bridge across the Drava River, in a length of 0.4 km, — the first half of the PeraËica — Podtabor dual carriage motorway in a length of 2.4 km, — Lendava bypass road in a length of 1.2 km. • January The Corporate Collective Agreement of DARS d.d. became effective as of 1 January 2007. • March On 15 March 2007 the Government of RS adopted the 2007 Annual Motorway Development and Reconstruction Plan. • April On 12 April 2007 the Supervisory Board of DARS d.d. approved the 2007 Business Plan of DARS d.d.. • May On 7 May 2007 the National Assembly of the Republic of Slovenia approved the 2007 Annual Motorway Development and Reconstruction Plan adopted by the Government of RS on 15 March 2007, • Junij At its session held on 29 June 2007, the Government of the Republic of Slovenia took note of the Report on the verification of actual justified costs of performing contracts under the Agreement on the Performance of Contracts, and the actual justified costs of calculating concession tax under the agreements concluded between the Republic of Slovenia and DARS d.d.. At the same session, the Government of the Republic of Slovenia adopted the measures proposed by the Expert Group appointed by decision of the Government of the Republic of Slovenia, no. 01400-1/2006/12 of 22 March 2006, and instructed the Expert Group to continue its work and to prepare draft amendments to the concession and agency agreements. • July On 24 July 2007 the Company concluded a loan agreement with Nova Ljubljanska banka in the amount of EUR 245 million to finance the construction of motorway sections under the National Motorway Construction Programme. 20 ANNUAL REPORT DARS d.d. 2007 BUSINESS REPORT
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 and 14: Organisation The organisation of th
Page 15 and 16: Management Board As laid down in th
Page 17 and 18: 16 LETNO ANNUAL PORO»ILO REPORT DA
Page 19: Mission, Vision, Strategic Goals, a
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
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 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
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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