DARS_porocilo 2007 ANG.indd

For the performance of tasks under the Agreement on the Performance of Contracts, the Company is
entitled to a compensation in an amount equal to 5.49 % of the value of works set out in the current
Annual Motorway Development and Rehabilitation Plan (hereinafter: LP ROAC). Advance payments of
compensation are made monthly with the prior authorisation of the Ministry of Transport for the transfer
of funds from the account designated for the financing of motorway construction to the account of the
Company. Final settlement is made on the basis of the value of works actually carried out and reported
annually to the National Assembly.
Concession Agreement
The Concession Agreement regulates mutual relations in connection with the concession for motorway
operation and maintenance, as well as the payment of concession tax. Motorway operation and
maintenance comprises:
• motorway operation,
• regular maintenance of motorways and facilities on motorways, and
• toll collection.
A concession for regular motorway maintenance and operation is granted for all motorways maintained
and operated by the Company at the time of signing the Concession Agreement, as well as for all motorways
or motorway sections yet to be constructed under NPIAC in the Republic of Slovenia.
The concessionaire (DARS) performs the Concession Agreement on its own behalf and for its own
account, and pays the concession grantor (the State) a concession tax defined under the Agreement
as the difference between tolls collected and other revenues on the one side, and recognised expenses
arising from concession activities, taking into account the normal return on equity, on the other side.
Recognised expenses are determined on the basis of:
• the number of vehicles passing through toll stations,
• the annual revenues from tolls collected,
• the number of kilometres of motorways operated by the Company, and
• the opportunity cost of capital (interest rate).
Payments of concession tax are made monthly with the prior authorisation of the Ministry of Transport
for the transfer of funds from the account of the Company to the account designated for the financing of
motorway construction, where they shall be used for servicing borrowings for motorway construction.
Final settlement is made on the basis of actual revenues and approved expenses not later than 8 days
after receipt of the auditor’s opinion on the annual report of the Company for the respective year.
In performing the Concession Agreement, the Company is entitled to use any state-owned facilities required
for toll collection and motorway maintenance. The Concession Agreement stipulates that any equipment
and devices under the concession are to be constructed or purchased on behalf of the State, provided
they are intended for motorways whose construction is in progress at the time of signing the Concession
Agreement, or was scheduled to begin in 2004. The ownership of equipment and devices mentioned in the
previous sentence shall subsequently be transferred from the State to the concessionaire. Such physical
assets comprise mobile equipment and devices required for toll collection and motorway maintenance,
the ETC and IT systems, the driver information system, and signalisation. Other concession equipment
and devices shall subsequently be provided by the Company (as a commercial company) from its own
operating revenues. Upon expiry of the Concession Agreement, the State shall purchase the previously
mentioned equipment and devices at the market prices determined by an independent appraiser.
53 ANNUAL REPORT DARS d.d. 2007 FINANCIAL REPORT