Annual Report 2011 - T-Hrvatski Telekom

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72 Consolidated financial statements Consolidated statement of comprehensive income For the year ended 31 December 2011 Rendering of services Sale of goods Notes 2011 2010 HRK millions HRK millions 7,765 302 8,155 217 Revenue 3 8,067 8,372 Other operating income 301 240 Merchandise, material and energy expenses Service expenses Employee benefits expenses Work performed by the Group and capitalised Depreciation, amortization and impairment of non-current assets Other expenses 4 6 5 7 (1,034) (1,141) (1,296) 81 (1,414) (1,359) (1,044) (1,281) (1,198) 105 (1,415) (1,533) Total operating costs (6,163) (6,366) Operating profit 3 2,205 2,246 Interest income Financial costs 83 (48) 71 (55) Net financial income Net share in investments in associate and joint venture 12,13 35 15 16 13 Profit before income tax 2,255 2,275 Income tax expense 8 (444) (444) Profit for the year 1,811 1,831 Other comprehensive income for the year Change in value of available for sale financial assets Actuarial gains and other income (expense) (2) 19 2 (3) Other comprehensive income for the year, net of tax 17 (1) Total comprehensive income for the year, net of tax 1,828 1,830 Earnings per share - basic and diluted, for profit for the year attributable to ordinary equity holders of the Company 9 HRK 22.12 HRK 22.36 The accompanying accounting policies and notes are an integral part of these financial statements.
Consolidated statement of financial position As at 31 December 2011 ASSETS Non-current assets Intangible assets Property, plant and equipment Investments in associate and joint venture Available-for-sale financial assets Other non-current receivables Deferred income tax assets Notes 10 11 12, 13 14 8 31 December 2011 HRK millions 999 5,953 395 39 23 52 31 December 2010 HRK millions 1,162 6,336 380 42 24 64 73 Consolidated financial statements Total non-current assets 7,461 8,008 Current assets Inventories Trade and other receivables Prepayments and accrued income Income tax prepayments Available-for-sale financial assets Time deposits Cash and cash equivalents 15 16 14 17 b) 17 a) 175 1,307 126 - 323 40 3,704 216 1,423 110 25 463 2 3,282 Total current assets 5,675 5,521 TOTAL ASSETS 13,136 13,529 The accompanying accounting policies and notes are an integral part of these financial statements.
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Annual Report 2011
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3 Operating Statistics Key operatio
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Content 5 2 3 7 8 10 12 16 21 22 28
Page 8 and 9:
8 Letter To Shareholders Introducti
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10 Corporate Profile Introduction A
Page 12 and 13:
12 Investor Information Economic en
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14 Dividend proposal for the 2011 f
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16 Management Board Introduction Br
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18 Introduction Branka Skaramuča M
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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
Page 61: 61 In 2011, Iskon was the official
Page 64 and 65: 64 Group Financial Performance Fina
Page 66 and 67: 66 Financial Review 2011 Terminal e
Page 69 and 70: Consolidated financial statements 3
Page 71: Independent auditor’s report 71 T
Page 75 and 76: Consolidated statement of cash flow
Page 77 and 78: Notes to the consolidated financial
Page 79 and 80: 79 IAS 39 Financial instruments: Re
Page 81 and 82: 81 two types of joint arrangement:
Page 83 and 84: 83 substance of the tax), the Group
Page 85 and 86: 85 Impairment losses relating to go
Page 87 and 88: 87 k) Leases Leases in which a sign
Page 89 and 90: 89 provided that there are no unful
Page 91 and 92: 91 · Statement of comprehensive in
Page 93 and 94: 93 Revenue — by geographical area
Page 95 and 96: 95 7 Other expenses Maintenance ser
Page 97 and 98: 97 The deferred tax asset of the Gr
Page 99 and 100: 99 The intangible assets of the Gro
Page 101 and 102: 101 Included within assets under co
Page 103 and 104: 103 The movement in investments in
Page 105 and 106: 105 14 Available-for-sale financial
Page 107 and 108: 107 At 1 January Charge for the yea
Page 109 and 110: 109 At 1 January Service costs reco
Page 111 and 112: 111 23 Legal reserves Legal reserve
Page 113 and 114: 113 27 Contingencies At the time of
Page 115 and 116: 115 The main transactions with rela
Page 117 and 118: 117 29 Financial risk management ob
Page 119 and 120: 119 Year ended 31 December 2011 Cro
Page 121 and 122: 121 electronic communications netwo
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123 the achievement of two share va
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125
Page 127 and 128:
127 FINANCING 75 Pojmovnik FRAME RE
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129 SUPERVISORY BOARD 7, 9, 14, 18,
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