TÅ½ Annual Report 2008 in pdf, 7.5 MB - TÅineckÃ© Å¾elezÃ¡rny

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Net Book Value(CZK thousand)Net book value Balance at 31 Dec 2006 Balance at 31 Dec 2007 Balance at 31 Dec 2008Land 359 499 389 046 462 337Structures 3 822 654 3 980 729 4 362 014Individual movable assets 7 640 781 7 726 207 8 922 582Other tangible FA 1 918 3 032 3 101Tangible FA under construction 917 208 1 010 297 958 218Prepayments for tangible FA 191 490 217 289 94 970Valuation difference on acquired assets –359 –180 0Total 12 933 191 13 326 420 14 803 222The tables of movements within tangible fixed assets include the column new acquisition in 2008 relating to the expansion of the consolidated group toinclude Šroubárny Kyjov, spol. s r. o., D 5, akciová společnost, in 2007 relating to the expansion of the consolidated group to include H&S PROGRESS s.r.o.,VÚHŽ a.s., VÚHŽ NEMO a.s. and ROLLSERVIS a.s.Principal additions to tangible fixed assets for the year ended 31 December 2008 are as follows:(CZK thousand)Garett winding line 273 693Equipment for pig iron desulphurisation 208 421Filtration equipment for the agglomeration 152 390Sakamura press 86 315SHUMAG III B/25 combined drawing machine 94 633Renovation and modernisation of Big Mannesman 735 000Depreciation of Tangible Fixed Assets Charged to ExpensesDepreciation of tangible fixed assets amounted to CZK 1,460,601 thousand, CZK 1,345,568 thousand and CZK 1,248,889 thousand as of 31 December 2008,2007 and 2006, respectively.Aggregate Balance of Low Value Tangible Assets not Reported on the Balance SheetThe aggregate costs of low value tangible assets not reported on the face of the balance sheet were CZK 498,297 thousand, CZK 422,394 thousand and CZK392,336 thousand as of 31 December 2008, 2007 and 2006, respectively.Fair ValueAs of the acquisition date in 2008, the Group revalued the assets of D5, akciová společnost and Šroubárna Kyjov, spol. s r.o.In the year ended 31 December 2008, the revaluation of assets to fair value increased the balance of tangible fixed assets by CZK 377,131 thousand andresulted in the recognition of a deferred tax liability of CZK 71,655 thousand using the 19 percent tax rate.As of the acquisition date in 2007, the Company revalued the assets of VÚHŽ NEMO a.s., ROLLSERVIS a.s., VÚHŽ a.s., and H&S PROGRESS s.r.o.In the year ended 31 December 2007, the revaluation of assets to fair value increased the balance of tangible fixed assets by CZK 92,224 thousand, increasedthe balance of intangible fixed assets by CZK 36,822 thousand and resulted in the recognition of a deferred tax liability of CZK 19,071 thousandusing the 19 percent tax rate.As of the acquisition date in 2006, the Company revalued the assets of VVT-VÍTKOVICE VÁLCOVNA TRUB, a.s. to fair value.In the year ended 31 December 2007, the revaluation of assets to fair value decreased the balance of tangible fixed assets by CZK 1,456 thousand.In the year ended 31 December 2006, the revaluation of assets to fair value increased the balance of tangible fixed assets by CZK 5,540 thousand, decreasedthe balance of intangible fixed assets by CZK 46 thousand and resulted in recognition of a deferred tax liability of CZK 1,319 thousand using the 24percent tax rate.5.3. Assets Held under Finance and Operating Lease AgreementsFinance Leases31 December 2008 (CZK thousand)CarsMachineryand equipmentBalance at31 Dec 2008Total anticipated lease payments 39 591 224 465 264 056Actual lease payments made through 31 Dec 2008 32 237 176 976 209 213Future payments due by 31 Dec 2009 4 742 21 821 26 563Future payments due in the following periods 2 611 25 668 28 279A N N U A L R E P O R T T Ř I N E C K É Ž E L E Z Á R N Y , a . s . 2 0 0 885
31 December 2007 (CZK thousand)CarsMachineryand equipmentBalance at31 Dec 2007Total anticipated lease payments 49 136 277 673 326 809Actual lease payments made through 31 Dec 2007 38 467 206 421 244 888Future payments due by 31 Dec 2008 6 348 30 476 36 824Future payments due in the following periods 4 321 40 776 45 09731 December 2006 (CZK thousand)CarsMachineryand equipmentBalance at31 Dec 2006Total anticipated lease payments 50 823 272 298 323 121Actual lease payments made through 31 Dec 2006 39 283 222 342 261 625Future payments due by 31 Dec 2007 7 111 22 776 29 887Future payments due in the following periods 4 429 27 180 31 609The Group made lease payments of CZK 29,230 thousand, CZK 26,981 thousand and CZK 33,328 thousand in the years ended 31 December 2008, 2007and 2006, respectively.5.4. Pledged Fixed Assets31 December 2008 (CZK thousand)Description of assetsNet book value Description, scope and purpose of pledge/lienTangible fixed assets 419 290 Loan from Komerční banka, a.s.Land 15 410 Loan from Komerční banka, a.s.Tangible fixed assets 436 336 Loan from Česká spořitelna, a.s.Land 2 811 Loan from Česká spořitelna, a.s.Tangible fixed assets 263 135 Loan from Československá obchodní banka, a.s.Tangible fixed assets 387 108 Loan from Citibank, a.s.Technology 207 983 Raifeisen Bank, a.s.Tangible fixed assets 2 618 Loan from CITIBANKTangible fixed assets 1 065 Loan from CITIBANKTangible fixed assets 1 025 Loan from CITIBANKTangible fixed assets 444 Loan from CITIBANKTangible fixed assets 2 894 Loan from CITIBANKTangible fixed assets 8 673 Loan from CITIBANKTangible fixed assets 1 665 Investment loan from ČSOBTangible fixed assets 21 107 Long-term loan from Komerční banka, a.s.Tangible fixed assets 36 691 Long-term loan from UniCredit Bank Czech Republic, a.s.Tangible fixed assets 125 877 Collateral for loan – renovation and modernisation of the foundry plantTangible fixed assets 99 331 Collateral for loan – renovation and modernisation of the foundry plantTotal 2 033 46331 December 2007 (CZK thousand)Description of assetsNet book value Description, scope and purpose of pledge/lienTangible fixed assets 15 274 Komerční banka, a.s.Tangible fixed assets 19 231 Komerční banka, a.s.Tangible fixed assets 42 806 Long-term loan from UniCredit Bank Czech Republic, a.s.Technology 221 035 Raiffeisen Bank, a.s.Tangible fixed assets 367 101 Loan from Komerční banka, a.s.Land 12 341 Loan from Komerční banka, a.s.Tangible fixed assets 503 752 Loan from Česká spořitelna, a.s.Land 2 811 Loan from Česká spořitelna, a.s.Tangible fixed assets 289 102 Loan from Československá obchodní banka, a.s.Tangible fixed assets 429 180 Loan from Citibank, a.s.Tangible fixed assets 2 255 Loan from Citibank, a.s.Tangible fixed assets 1 125 Loan from Citibank, a.s.Tangible fixed assets 1 085 Loan from Citibank, a.s.Tangible fixed assets 466 Loan from Citibank, a.s.Tangible fixed assets 2 119 Loan from Citibank, a.s.Tangible fixed assets 9 673 Loan from Citibank, a.s.Tangible fixed assets 2 120 Investment loan from Československá obchodní banka, a.s.Total 1 921 47686F I N A N C I A L P A R T
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Třinecké železárny, a. s. / Ann
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1.Company ProfileTŘINECKÉ ŽELEZ
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3.Characteristics of the Production
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4. Events of 2008JanuaryIn 2007, a
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5.Selected Economic Indicators 2004
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7.Introductory Word of the Chairman
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8. Board of Directors’ ReportDeve
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Production and Position on the Mark
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Investments and ModernisationThe te
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A total of 38 technological project
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Environmental InvestmentsIn 2008, t
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Table: The average adjusted count o
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Trends of total revenues during the
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9.Report of the Supervisory BoardTh
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10.Auditor‘s Opinion on the Annua
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30F I N A N C I A L P A R T
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LIABILITIES AND EQUITY(CZK thousand
Page 36 and 37: STATEMENT OF CHANGES IN EQUITYShare
Page 38 and 39: NOTES TO THE FINANCIAL STATEMENTS1.
Page 40 and 41: 3. Summary of Significant Accountin
Page 42 and 43: 3.5. ReceivablesUpon origination, r
Page 44 and 45: 4. Additional Information on the Ba
Page 46 and 47: 4.1.3. Assets Held under Finance an
Page 48 and 49: 31 December 2007 (CZK thousand)Comp
Page 50 and 51: 31 December 2006 (CZK thousand)Comp
Page 52 and 53: 4.4.3. Intercompany ReceivablesShor
Page 54 and 55: 4.8. Reserves (CZK thousand)Reserve
Page 56 and 57: 4.9.5. Intercompany PayablesShort-T
Page 58 and 59: 4.11. Assets and Liabilities Denomi
Page 60 and 61: Eligibleexpenses in2004Allowedstate
Page 62 and 63: 2006 (CZK thousand)EntityRelationGo
Page 64 and 65: 2007 (CZK thousand)EntityRelationNo
Page 66 and 67: 31 December 2007Type of commitment
Page 68 and 69: CONSOLIDATED BALANCE SHEET - FULL V
Page 70 and 71: CONSOLIDATED PROFIT AND LOSS ACCOUN
Page 72 and 73: CONSOLIDATED CASH FLOW STATEMENT(CZ
Page 74 and 75: 2. Definition Of the Consolidated G
Page 76 and 77: AssociatesName of the company Regis
Page 78 and 79: Objects from precious metals acquir
Page 80 and 81: Deferred TaxDeferred tax is account
Page 82 and 83: 4. Analysis of Impacts on Profit/Lo
Page 84 and 85: 5. Additional Consolidated Balance
Page 88 and 89: 31 December 2006 (CZK thousand)Desc
Page 90 and 91: Investment Acquisition cost Descrip
Page 92 and 93: 5.8. Inventory (CZK thousand)Struct
Page 94 and 95: 5.9.4. Intercompany ReceivablesShor
Page 96 and 97: The reserves for repairs of tangibl
Page 98 and 99: 5.15. Deferred Tax Liability and De
Page 100 and 101: 5.17. Bank Loans and Borrowings5.17
Page 102 and 103: 5.18. Temporary Liabilities (CZK th
Page 104 and 105: 6.1.3. The Group’s Income from Or
Page 106 and 107: 6.9. Related Party Transactions6.9.
Page 108 and 109: 7. Employees, Management and Statut
Page 110 and 111: 8. Post Balance Sheet EventsOn 21 J
Page 112 and 113: CZK’ 000 2008* 2007 2006Equity 56
Page 114 and 115: CZK’ 000 2008* 2007 2006Equity 19
Page 116 and 117: Barrandov Lands a.s. registered at
Page 118 and 119: whereby the performance fee exclusi
Page 120 and 121: D. Description of the Companys Rela
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TÅ½ Annual Report 2008 in pdf, 7.5 MB - TÅineckÃ© Å¾elezÃ¡rny

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TÅ½ Annual Report 2008 in pdf, 7.5 MB - TÅineckÃ© Å¾elezÃ¡rny