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

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The reserves for repairs of tangible fixed assets (tax deductible) were made for repairs of main production facilities in compliance with the ProvisioningAct. The creation of reserves is based upon a long-term repair plan, timing and budget of repairs.Other reserves consist of reserves for the scrapping of equipment, emission allowances, additionally assessed taxes, real estate transfer tax, employeebonuses and losses incurred in connection with a concluded long-term contract.5.14. Payables5.14.1. Long-Term Payables (CZK thousand)Balance at 31 Dec 2008 Balance at 31 Dec 2007 Balance at 31 Dec 2006Long-term payables– Trade payables 6 888 24 189 6 096– Long-term bills of exchange to be settled 0 0 27 495– Long-term prepayments received 1 360 369 0– Other payables 1 000 0 706– Deferred tax liability 822 055 815 611 883 025– Tax liabilities and grants 0 0 0Total 831 303 840 169 917 322Long-term bills of exchange to be settled reported as of 31 December 2006 reflected the nominal value of bills of exchange issued in order to cover the dueamount arising from the renovation and modernisation of the light section mill. Interest expense on these bills of exchange is recorded as a deferred expense.As of 31 December 2008 and 2007, these bills of exchange are recorded as short-term trade payables.5.14.2. Short-Term Trade Payables (CZK thousand)Balance at 31 Dec 2008 Balance at 31 Dec 2007 Balance at 31 Dec 2006Short-term trade payables– Customers 3 470 877 3 119 305 2 460 840– Bills of exchange to be settled 0 26 620 27 495– Other payables 288 290 1 884Total 3 471 165 3 146 215 2 490 219Aging of Short-Term Trade Payables(CZK thousand)Year Category Before due date Past due date Total1 – 90 days 91 – 180 days 181 – 360 days 1 – 2 years 2 years andgreater2008 Short-term 3 346 560 102 126 9 867 12 716 –88 –16 3 471 1652007 Short-term 3 081 127 61 843 2 850 327 14 54 3 146 2152006 Short-term 2 445 207 43 231 867 29 885 0 2 490 219Payables typically fall due for settlement within 30 days. Significant payables past due more than 90 days predominantly arise from offset agreements inprogress.Other PayablesAs of 31 December 2008, payables associated with social security and the state employment policy contribution amounted to CZK 89,379 thousand, healthinsurance payables totalled CZK 39,143 thousand. The Company has no outstanding social security or health insurance payables. Payables arising fromadditional pension scheme amounted to CZK 4,031 thousand as of 31 December 2008.The category State – tax payables and subsidies principally comprises valued added tax payables, income tax payable and received subsidies.Estimated payables mainly consist of unbilled supplies of work and services and an estimated amount for outstanding vacation days and annual bonusesincluding insurance.Other payables primarily relate to deductions from employee salaries.A 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 0 895
5.14.3. Intercompany Payables (CZK thousand)Name of the entity Balance at 31 Dec 2008 Balance at 31 Dec 2007 Balance at 31 Dec 2006• Trade payablesDoprava TŽ, a.s. 6 750 6 984 7 569Kvalifikační a personální agentura, v.o.s. 57 37 0Hutnictví železa, a.s. 694 678 540MORAVIA STEEL, a.s. 2 073 703 1 408 890 1 242 285Moravia Security, a.s. * 5 691 0 0Reťaze Slovakia s.r.o. 0 0 0TRIALFA, s.r.o. 15 951 17 074 16 585TRISIA, a.s. 3 665 3 906 236TŘINECKÁ PROJEKCE, a.s. 2 197 14 053 9 326Třinecké gastroslužby, s.r.o. 8 651 10 541 6 238Sochorová válcovna TŽ, a.s. 10 833 12 556 4 706VESUVIUS ČESKA REPUBLIKA, a.s. 3 118 17 170 17 950Beskydská golfová, a.s. 16 18 16MATERIÁLOVÝ A METALURGICKÝ VÝZKUM, s.r.o. * 1 868 0 0Regionální inovační centrum Frýdek-Místek, s.r.o. 43 0 0CMC-Třinec Stahlhandel GmbH 170 0 23Total short-term intercompany payables 2 133 407 1 491 907 1 305 474Other than intercompany payables 2 110 960 2 851 893 2 390 199Total short-term payables 4 244 367 4 343 800 3 695 673* Moravia Security, a.s. became part of the group on 15 February 2008 and VÍTKOVICE – Výzkum a vývoj, spol. s r.o. changed its name to MATERIÁLOVÝ A METALURGICKÝ VÝZKUM s.r.o..96F 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
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STATEMENT OF CHANGES IN EQUITYShare
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NOTES TO THE FINANCIAL STATEMENTS1.
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3. Summary of Significant Accountin
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3.5. ReceivablesUpon origination, r
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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 86 and 87: Net Book Value(CZK thousand)Net boo
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 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