DARS_porocilo 2007 ANG.indd

Revenue
Revenue is recognised if increases in economic benefits during the accounting period are associated with
increases in assets or decreases in liabilities, and if they can be reliably measured. Revenue is recognised
provided it can be reasonably assumed that it will eventually result in cash receipts. Revenue is classified
into operating revenue, financial revenue, and other revenue.
Net sales comprise:
• tolls collected;
• rentals paid by various service providers to use motorway service areas;
• revenue from motorway closures and extraordinary freight transports;
• revenue from easement for the installation of facilities and devices of public importance alongside
motorways;
• revenue from telecommunications;
• revenue under the Agreement on the Performance of Contracts. The Company is entitled to a
compensation for the performance of tasks thereunder, which is expressed as a percentage of the value
of all works set out in the current AP ROAC. Advance payments of compensation are made monthly
with prior authorisation of the Ministry of Transport to transfer funds from the account designated for
the financing of motorway construction to the account of the Company. Final settlement is done on
the basis of the value of works actually carried out and reported to the National Assembly on a yearly
basis. Based on an analysis of the Company’s actual costs incurred in 2003 and the estimated costs of
engineers in 2004, the compensation for the years 2004, 2005, 2006 and 2007 was determined at
5.49 % of the value of motorway construction and reconstruction works.
The contracting parties shall revise the above-mentioned percentage every two years. If the costs
actually incurred by the Company exceed those recognised under the Agreement on the Performance
of Contracts by more than 5 % with respect to the tasks to be performed by the Company thereunder,
each contracting party may request that the compensation be changed, but only for the subsequent
year. In March 2006, the Government of the Republic of Slovenia set up an expert group with the task
of reviewing the actually recognised expenses under the Agreement on the Performance of Contracts
and the Concession Agreement.
The compensation can be increased or decreased by 10 % to reflect any cost savings or overruns against
the approved costs of the investment programme. The incentive, however, may not exceed 1 % of the
investment value approved by the Minister of Transport, and applies only to projects approved after the
Agreement on the Performance of Contracts was signed. The initial compensation is determined on the
basis of historical data, but can be subsequently adjusted in case of justified changes in expenses. Such
adjustments can not have a retroactive effect, which means that each contracting party shall assume
its own share of risk for the current financial year;
• other operating revenue.
Financial revenue comprises interest revenue and foreign exchange gains. Financial revenue is recognised,
unless there is justified doubt as to its amount and collectability. Interest revenue is recognised on a time
proportion basis taking account of the outstanding principal amount and the applicable interest rate.
Other revenue comprises unusual items increasing profit or loss for the period (damages received,
remuneration for the employment of disabled persons above the quota,..).
61 ANNUAL REPORT DARS d.d. 2007 FINANCIAL REPORT