DARS_porocilo 2007 ANG.indd

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• Easement accounted for revenue in the amount of EUR 162,073, which exceeded the 2006 figure by 142 percent. Revenue under this item is generated from the granting of easements allowing interventions in motorway areas. • Revenue from the lease of optical fibre / telecommunications lines was generated in the amount of EUR 427,929. This revenue was nonexistent in 2006. • Other sales revenue in the amount of EUR 1,385,599 comprised revenue from the sale of electronic tags, other services in the domestic market, sale of waste materials, holiday facilities, snow-ploughing and accident rescue activities, advertising, issued approvals, etc.. This revenue was almost 7 times higher than in 2006. • Other operating revenue in the amount of EUR 2,244,314 mainly comprised revenue from received insurance payments for the elimination of damage on motorway sections and facilities. This was followed by revenue from the reversal of provisions, operating revenue from revaluation, etc.. Other operating revenue was 26 percent below the 2006 figure, and accounted for 1 percent of the Company’s total revenue. • Financial revenue amounted to EUR 1,381,930, and decreased by 33 percent over 2006: • EUR 1,367,283 or 99 percent of financial revenue represented financial revenue from loans given to others, generated by depositing short-term surpluses of liquid funds with banks. • EUR 14,647 of the financial revenue represented financial revenue from operating receivables due from others. • Other revenue amounted to EUR 85,167 in 2007 and mainly comprised compensation for damages under litigation and contractual penalties. Expenses of DARS d.d. 2007 Expenses of DARS d.d. Type of expense 2007 (EUR) 2006 (EUR) Index Share (%) 2007/2006 In 2007 Labour costs 27,557,899 26,178,259 105 14 Costs of materials 9,487,267 7,494,520 127 5 Costs of services 29,264,001 26,113,222 112 15 Concession tax 122,637,200 103,105,148 119 61 Writedowns 8,074,260 9,314,981 87 4 Other operating expenses 1,834,670 2,015,955 91 1 Financial expenses 11,701 90,066 13 0 Other expenses 17,471 4,510 387 0 TOTAL 198,884,469 174,316,659 114 100 27 ANNUAL REPORT DARS d.d. 2007 BUSINESS REPORT
Shares of individual types of expenses in the total expenses of DARS d.d. in 2007 The total expenses of the Company in 2007 amounted to EUR 198,884,469 and increased by 14 percent in comparison with 2006. • Labour costs amounted to EUR 27,557,899. In comparison with 2006, these costs increased by 5%, primarily on account of severance pays and the costs of supplementary pension insurance of employees. Labour costs accounted for 14 percent of the Company’s total expenses. • Costs of materials amounted to EUR 9,487,267 and accounted for a 5-percent share in the total expenses of the Company. In comparison with 2006, costs of materials increased by 27 percent, primarily due to higher costs of electronic tags. These amounted to EUR 3,132,994 in 2007, which is 93 percent above the 2006 figure. • Costs of services excluding concession tax in the amount of EUR 29,264,001 increased by 12 percent in comparison with 2006. These costs accounted for a 15-percent share in the total expenses. The highest increase was registered in engineering costs, which increased by EUR 1,929,560 or 13 percent as a result of the 12-percent increase in completed construction and reconstruction works on motorway sections (excluding agent compensation and liabilities from borrowings and bonds, and including financing costs) in comparison with 2006. • In line with the provisions of the Concession Agreement, the Company paid a total of EUR 122,637,200 in concession taxes to the State on the basis of a granted concession for the exclusive right to manage and maintain motorways in the Republic of Slovenia. Concession taxes represented 61% of the total expenses, and exceeded the 2006 figure by 19 percent. This was primarily due to the fact that the growth of tolls collected was higher than planned, and due to the inclusion of additional revenue in the calculation of concession tax. 28 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 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: Revenue of DARS d.d. 2007 Revenue T
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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