Annual Report 2011 - T-Hrvatski Telekom

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76 Consolidated financial statements Consolidated statement of changes in equity For the year ended 31 December 2011 Balance as at 1 January 2010 Issued capital HRK millions (note 22) 8,189 Legal reserves HRK millions (note 23) 409 Fair value reserves HRK millions (3) Retained earnings HRK millions (note 24) 3,417 Total HRK millions 12,012 Profit for the year Other comprehensive income for the year - - - - - 2 1,831 (3) 1,831 (1) Total comprehensive income for the year Dividends paid to equity holders of the Company - - - - 2 - 1,828 (2,788) 1,830 (2,788) Balance as at 31 December 2010 8,189 409 (1) 2,457 11,054 Profit for the year Other comprehensive income for the year - - - - - (2) 1,811 19 1,811 17 Total comprehensive income for the year Dividends paid to equity holders of the Company - - - - (2) - 1,830 (1,863) 1,828 (1,863) Balance as at 31 December 2011 8,189 409 (3) 2,424 11,019 The accompanying accounting policies and notes are an integral part of these financial statements.
Notes to the consolidated financial statements For the year ended 31 December 2011 1 Corporate information Hrvatski Telekom d.d. (“HT d.d.”, “HT” or the “Company”) is a joint stock company whose majority shareholder is Deutsche Telekom AG (“DTAG”) (51%). DTAG is also ultimate controlling parent. The registered office address of the Company is Savska cesta 32, Zagreb, Croatia. The total number of employees of the Group as at 31 December 2011 was 6,239 (31 December 2010: 6,519). The principal activities of the Group are described in Note 3. The consolidated financial statements of Hrvatski Telekom d.d. for the financial year ended 31 December 2011 were authorised for issue in accordance with a resolution of the Management Board on 6 February 2012. These consolidated financial statements are subject to approval of the Supervisory Board as required by the Croatian Company Act. 2.1 Basis of preparation The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS). The consolidated financial statements have been prepared under the historical cost convention, as modified by the revaluation of available-for-sale financial assets (Note 14), as disclosed in the accounting policies hereafter. The Group’s consolidated financial statements are presented in Croatian Kuna (HRK). All amounts disclosed in the consolidated financial statements are presented in millions of HRK if not otherwise stated. The consolidated financial statements include the financial statements of Hrvatski Telekom d.d. and the following subsidiaries comprise together HT Group: 77 Consolidated financial statements Entity Country of Business 31 December 2011 Ownership Interest 31 December 2010 Combis d.o.o. Iskon Internet d.d. KDS d.o.o. Republic of Croatia Republic of Croatia Republic of Croatia 100% 100% 100% 100% 100% 100% 2.2 Changes in accounting policies and disclosures The accounting policies adopted are consistent with those of the previous financial year. The Group has adopted the following new and amended IFRS and IFRIC interpretations during the year. When the adoption of the standard or interpretation is deemed to have an impact on the financial statements or performance of the Group, its impact is described below. Amendment to IAS 32 Financial Instruments: Presentation — Classification of Rights Issues (effective for financial years beginning on or after 1 February 2010) The amendment allows rights, options or warrants to acquire a fixed number of the entity’s own equity instruments for a fixed amount of any currency to be classified as equity instruments provided the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own nonderivative equity instruments. The adoption of the amendment did not have any impact on the financial position and performance of the Group, as the Group does not have such instruments. IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments (effective for financial years beginning on or after 1 July 2010)
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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
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8 Letter To Shareholders Introducti
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10 Corporate Profile Introduction A
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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
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22 Supervisory's Board Report Intro
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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 and 72: Independent auditor’s report 71 T
Page 73 and 74: Consolidated statement of financial
Page 75: Consolidated statement of cash flow
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
Page 123 and 124: 123 the achievement of two share va
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127 FINANCING 75 Pojmovnik FRAME RE
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129 SUPERVISORY BOARD 7, 9, 14, 18,
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Annual Report 2011 - T-Hrvatski Telekom

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