TŽ Annual Report 2008 in pdf, 7.5 MB - Třinecké železárny

FERROMORAVIA,s.r.o.As of 31 December 2008, the company was named as a defendant in a legal dispute regarding the payment of CZK 1,386 thousand in respect of the impairedability of an employee to seek proper employment following the work injury of a leg. CZK 252 thousand of this amount was already paid by the inter-pleader,Kooperativa pojišťovna, a.s., which mediates the payment of the compensation. On 7 November 2007, the first hearing was held and the plaintiff washeard. The hearing on 20 February was adjourned to 26 March 2008. During the hearing held on that date, the court decided that a new expert opinionshould be prepared. Such opinion has not been presented to the court to date. If the plaintiff is successful, management of the Company anticipates thatall costs, including the disputed sum, will be paid by Kooperativa pojišťovna, a.s. as indicated by the contract.As of 31 December 2008, there was no environmental audit of the company. As a result, the companys management cannot estimate contingent liabilitiespertaining to damage caused by prior activities or liabilities related to the prevention of potential future damage.D 5, akciová společnost, TřinecThe company records the following off balance sheet liabilities: loans collateralised by the blank bill of exchange and aggregate future receivables up toCZK 100 million. As of 31 December 2008, the company was involved in no legal dispute. The company records no environmental liabilities.As of the balance sheet date, the company records no material future payables arising from expenditure for tangible fixed assets arising from concludedcontracts.VUHŽ, a.s.As of 31 December 2008, the company records no off balance sheet liabilities, except for leases.As of 31 December 2008, the company was involved in a legal dispute for the amount of CZK 225 thousand regarding defects in the work on the renovationof bathrooms. The dispute has not been completed as of the balance sheet date, it is in progress with the Arbitration Court attached to the Economic Chamberof the Czech Republic and the Agricultural Chamber of the Czech Republic in Prague.Receivables of CZK 1,565 thousand are registered for recovery under bankruptcy proceedings. These receivables are provided for in full.As of the balance sheet date, the Company records no material future payables arising from expenditure for fixed assets arising from concluded contracts.Řetězárna, a.s.In the year ended 31 December 2008, the company concluded forward contracts for the hedging of the exchange rate in 2009 and 2010 in the aggregateamount of EUR 2,300 thousand. The fair value measurement of these transactions was recognised in the profit and loss account.Slévárny Třinec, a.s., REFRASIL, s.r.o., Šroubárna Kyjov, spol. s r.o. a H&S PROGRESS s.r.o.The companies are unaware of any off balance sheet liabilities as of 31 December 2008.6. Additional Profit and Loss Account Information6.1. Income from Ordinary Activities6.1.1. The Group’s Income from Ordinary Activities and Sale of Goods for 2008 (CZK thousand)Activities Domestic Export TotalMetallurgic production 37 060 455 337 569 37 398 024Power generation 320 073 0 320 073Production of refractory material 65 466 89 600 155 066Foundry production 1 127 460 21 460 1 148 920Engineering production 647 503 1 516 819 2 164 322Sale of goods 4 028 0 4 028Services 524 306 37 819 562 125Change in inventory 864 422 0 864 422Capitalisation 817 835 0 817 835Total 41 431 548 2 003 267 43 434 8156.1.2. The Group’s Income from Ordinary Activities and Sale of Goods for 2007 (CZK thousand)Activities Domestic Export TotalMetallurgic production 36 640 959 210 843 36 851 802Power generation 308 701 0 308 701Production of refractory material 55 352 110 998 166 350Foundry production 322 046 752 371 1 074 417Engineering production 165 143 428 290 593 433Sale of goods 8 108 422 8 530Services 381 223 13 175 394 398Change in inventory 324 460 0 324 460Capitalisation 546 426 0 546 426Total 38 752 418 1 516 099 40 268 517102F I N A N C I A L P A R T