Annual Report 2011 - T-Hrvatski Telekom

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10 Corporate Profile Introduction At a Glance The T-HT Group is the leading provider of telecommunications services in Croatia, offering fixed and mobile telephony services as well as wholesale, Internet and data services. As of 1 January 2010, the Group conducts its business through its Residential and Business units. The basic activities of Hrvatski Telekom d.d. and subsidiary companies comprise the provision of electronic communications services and the design and construction of electronic communications networks within the Republic of Croatia. In addition to the provision of fixed telephony lines services (fixed telephony line access and traffic, as well as fixed network supplementary services), the Group also provides Internet and ICT services, data transmission services (lease of lines, Metro-Ethernet, IP/MPLS, ATM), operating with GSM and UMTS mobile telephone networks. History and Incorporation Hrvatski Telekom d.d. (HT d.d. or the Company) is a joint stock company majority owned by Deutsche Telekom AG (DTAG). It was incorporated on 28 December 1998 in the Republic of Croatia, pursuant to the provisions of the Act on the Separation of Croatian Post and Telecommunications into Croatian Post and Croatian Telecommunications, by which the business operation of the former HPT - Hrvatska pošta i telekomunikacije (HPT s p.o.) was separated and transferred into two new joint stock companies, HT - Hrvatske telekomunikacije d.d. (HT d.d.) and HP — Hrvatska pošta d.d. (HP d.d.). The Company commenced its operations on 1 January 1999. Republic of Croatia transferred 7% of its shares in HT d.d. to the Fund for Croatian Homeland War Veterans and Their Families, pursuant to the Law on Privatization of HT d.d. (Official Gazette No. 65/99 and 8/2001). In 2002, HT mobilne komunikacije d.o.o. (HTmobile) was established as a separate legal entity and subsidiary wholly owned by HT d.d. for the provision of mobile telecommunication services. HTmobile commenced its commercial activities on 1 January 2003 and in October 2004, the company name was officially changed to T-Mobile Croatia d.o.o. (T-Mobile). On 1 October 2004, the Company was re-branded as T-HT, thus becoming a part of the global „T“ family of Deutsche Telekom. The change of identity at corporate level was followed by the creation of trade marks for the two separate business units of the Group: the fixed network operations business unit, T-Com, which also provided wholesale, Internet and data services, and the mobile operations business unit, T-Mobile. In May 2006, the Group acquired 100% of shares of Iskon Internet d.d., one of the leading telecom alternative providers in Croatia. Pursuant to the provisions of the Law on Privatization of HT d.d. (Official Gazette No. 65/99 and No. 68/01), on 5 October 2007, the Republic of Croatia sold 32.5% of T-HT ordinary shares by Initial Public Offering (IPO). Of the 32.5% of shares, 25% were sold to Croatian retail investors, while 7.5% were distributed among Croatian and international institutional investors. Pursuant to the terms of the of Law on Privatization of Hrvatske telekomunikacije d.d. (Official Gazette No. 65/99 and No. 68/01), on 5 October 1999, the Republic of Croatia sold a 35% share in HT d.d. to DTAG, and on 25 October 2001 DTAG purchased a further 16% share in HT d.d. and thus became the majority shareholder with a 51% share in ownership. As of 17 February 2005, the Government of the Following the sale of shares to present and former employees of Hrvatski Telekom and Croatian Post in June 2008, the Government of the Republic of Croatia reduced its holding from 9.5% to 3.5%, while private and institutional investors held 38.5%. In October 2009, an agreement was signed by which T-Mobile Croatia was merged into HT d.d. The merger came into effect on 1 January 2010, after which time the Group was organised into Residential and
11 Business units. In addition the Company’s registered name was officially changed from HT — Hrvatske telekomunikacije d.d. to Hrvatski Telekom d.d. on 21 May 2010. Introduction On 17 May 2010 HT d.d. has completed the aquisition of the IT services company Combis d.o.o., extending its reach into the provision of IT software and services for a client base that ranges form small businesses to government departments. In December 2010 Republic of Croatia transferred 2,859,148 shares of Hrvatski Telekom d.d., equal to 3.5% of the entire share capital of the Company, to the owner account of the Pensioners’ Fund. Following this transfer, the Republic of Croatia no longer holds shares of Hrvatski Telekom d.d.
Page 1 and 2: Annual Report 2011
Page 3 and 4: 3 Operating Statistics Key operatio
Page 5: Content 5 2 3 7 8 10 12 16 21 22 28
Page 8 and 9: 8 Letter To Shareholders Introducti
Page 12 and 13: 12 Investor Information Economic en
Page 14 and 15: 14 Dividend proposal for the 2011 f
Page 16 and 17: 16 Management Board Introduction Br
Page 18 and 19: 18 Introduction Branka Skaramuča M
Page 20 and 21: 20 Introduction As a result of the
Page 22 and 23: 22 Supervisory's Board Report Intro
Page 24 and 25: 24 Introduction • Cash management
Page 26 and 27: 26 Summary of the work performed Re
Page 28 and 29: 28 Corporate Governance Code Compli
Page 30 and 31: 30 Introduction Currently the Manag
Page 33 and 34: II. Business review 2011 Croatian T
Page 35 and 36: 35 first 10 months of 2011 against
Page 37 and 38: Regulatory Environment 37 Croatian
Page 39 and 40: Group's Strategy 39 T-HT Group Miss
Page 41 and 42: Organization of the Group 41 T-HT G
Page 43 and 44: 43 Blended ARPU decreased by 11.0%
Page 45 and 46: 45 additional products: naked bitst
Page 47 and 48: 47 Transport Layer DWDM (Dense Wave
Page 49 and 50: 49 Data and IT Security The protect
Page 51 and 52: 51 Corporate Responsibility III. Co
Page 53 and 54: 53 Code of Conduct T-HT’s Code of
Page 55 and 56: 55 Culture Museum of Contemporary A
Page 57 and 58: 57 Full time employees by education
Page 59 and 60: 59 with direct investments into ext
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61 In 2011, Iskon was the official
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64 Group Financial Performance Fina
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66 Financial Review 2011 Terminal e
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Consolidated financial statements 3
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Independent auditor’s report 71 T
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Consolidated statement of financial
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Consolidated statement of cash flow
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Notes to the consolidated financial
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79 IAS 39 Financial instruments: Re
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81 two types of joint arrangement:
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83 substance of the tax), the Group
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85 Impairment losses relating to go
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87 k) Leases Leases in which a sign
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89 provided that there are no unful
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91 · Statement of comprehensive in
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93 Revenue — by geographical area
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95 7 Other expenses Maintenance ser
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97 The deferred tax asset of the Gr
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99 The intangible assets of the Gro
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101 Included within assets under co
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103 The movement in investments in
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105 14 Available-for-sale financial
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107 At 1 January Charge for the yea
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109 At 1 January Service costs reco
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111 23 Legal reserves Legal reserve
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113 27 Contingencies At the time of
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115 The main transactions with rela
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117 29 Financial risk management ob
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119 Year ended 31 December 2011 Cro
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121 electronic communications netwo
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123 the achievement of two share va
Page 125 and 126:
125
Page 127 and 128:
127 FINANCING 75 Pojmovnik FRAME RE
Page 129:
129 SUPERVISORY BOARD 7, 9, 14, 18,
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Annual Report 2011 - T-Hrvatski Telekom

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