Economic results for - AÅ½D Praha, sro

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Dear Business Partners,Associates and Co-Workers,Dear Friends,in the introduction to our company’s annualreport for the past period, I would liketo thank all our employees for their excellentwork, our associates for their support,our business partners for their trust andour friends and supporters for promotingthe good name of AŽD Praha.The 2010/2011 financial year was definitelynot an easy one. In the beginningof his period there were certain doubts anduncertainties – how can we fulfil our plans,how many contracts will we secure and whatis the future outlook. Looking back at thisperiod, I am pleased to state that we fulfilledour main tasks in the economic, technicaland business areas. We fulfilled them despitethe commencing recession and the consequentreduction in transportation infrastructureinvestments, and despite a situationwhen success abroad has never been moredifficult. We are even more proud of our resultsbecause of the above conditions. Wehave maintained and strengthened the goodname of our company on the domestic mar-6
ket as well as abroad. Professionalism, flexibilityand our efforts to meet all our customers’requirements have been and will continue tobe the main principles of our policy.We continued with the implementation ofdomestic projects involving the backbonenetworks of the 3rd and 4th national transitcorridors, secondary railway lines and junctions,such as the Beroun – Zbiroh, MariánskéLázně – Cheb and Benešov – Votice sections,commencement of work at the StaráPaka junction and other projects. We continuedthe implementation of telecommunicationsystems, road telematics systems andother technologies. We strived to be flexiblewhen responding to emergencies, the recommendationsof our customers and traindrivers by initiating and implementing ourown improvement proposals. However, it isclear that the times of full capacity utilization,which we remember from five yearsago, are not coming back. Hence we havecontinued to reduce company costs notonly by reducing our operating costs but,unfortunately, also by reducing numberof our employees and by implementingthe very much needed reorganization. Thatresulted, among other things, in reductionin our production capacities in Prague. Nevertheless,we should also remember that wehelped many people to find new jobs withinthe company.Abroad, we extended the positive resultsof the previous years. One should notoverlook our important contracts in Belarus,Lithuania, Serbia and Montenegro andthe deliveries of our products to Malaysia,Turkey, Greece and the United States. Unfortunately,due to in particular politicalchanges, we have not been successful inEgypt and Syria and our results in Bulgariaalso lagged behind our expectations. Wecarried out very important contracts inSlovakia – for example, the construction ofthe Žilina – Teplička large railway marshallingyard. Company revenues from foreigncontracts amount to approximately 20% ofour overall revenues, a fact that is very importantfor the future. Other important factorsinclude the development of telecommunicationand information technologies,a new public address system networks, localand railway radio network systems andour participation in building the GSM-R andCAB radio system. All of this was accomplishedlast year.Among our other activities, I would like toemphasize here our deliveries for the PragueMetro and our activities in the area of roadtelematics for cities and municipalities inboth the Czech Republic as well as abroad.Our revenues in these areas have been alsogrowing and have partially compensatedthe losses in the railway sector.Technological development played a veryimportant role in the past period. The significantfinancial resources that we have investedthis year (as we do every year) into technologicaldevelopment are at least comparableto our European and international competitors.Some of these projects, which we havealready put or will soon put into trial operation,include the ESA 44 electronic interlocking,the new PZZ-J level crossing system,the RBA-10 radio-block for secondary lines,the LS 06/07 automatic train protection, newGTN systems, new EZS and VNPN functionalitiesreacting to accidents (registering lossof shunt and warning against trains illegallypassing through signals), diagnostic systems,devices for Metro and many other systemsand their applications. We consider as a veryimportant step the completion of the ETCSpilot project, where we applied our own solutionsand subsystems.Another very positive step was the consolidationof our subsidiaries, a process that hasprovided positive results not only in terms ofeconomy but also in education, production,development and other areas. It is necessary7
Page 2: REPORT ON BUSINESS ACTIVITIESAND RE
Page 5: GENERAL MANAGER’S FOREWORD5
Page 9 and 10: MANAGING BODIES AND ORGANISATIONAL
Page 11 and 12: COMPANY HEAD OFFICE AND HEADQUARTER
Page 13 and 14: LOGISTIC PLANT OLOMOUCDirector of t
Page 15 and 16: Comments on the changes ofthe organ
Page 17 and 18: 17WHO WE ARE
Page 19 and 20: SCOPE OF BUSINESS19
Page 21 and 22: tems for motorway and main road tun
Page 23 and 24: BUSINESSDifficulties caused by a de
Page 25 and 26: INTEGRATED MANAGEMENT SYSTEMAND ENV
Page 27 and 28: tees the quality, safety and enviro
Page 29 and 30: RAILWAY TRAFFICTraditionally AŽD P
Page 31 and 32: 31PRODUCTION
Page 33 and 34: assessed against the criteria of in
Page 35 and 36: 35INSTALLATION
Page 37 and 38: The total number of implemented pro
Page 39 and 40: 3/Q-2011Slovakia - ŽSR, Žilina -
Page 41 and 42: 41DST BRNO
Page 43 and 44: DIVISION OF TELECOMMUNICATIONAND SI
Page 45 and 46: LOGISTIC PLANT OLOMOUC45
Page 47 and 48: AŽD PRAHA, EU AND INTERNATIONAL CO
Page 49 and 50: with individual manufacturers in th
Page 51 and 52: FINANCIAL PERFORMANCE51
Page 53 and 54: MAIN FINANCIAL INDICATORS OF AŽD P
Page 55 and 56: COMPOSITION OF ASSETS AS AT SEP. 30
Page 57 and 58:
Identif.aASSETSbRowcGross1Current a
Page 59 and 60:
Identif.aASSETSbRowcGross1Current a
Page 61 and 62:
OznačeníaLiabilitiesbRowcCurrent
Page 63 and 64:
Identif.aTEXTbRowcCurrent1Fiscal pe
Page 65 and 66:
AUDITOR’S REPORTAND SUPERVISORY B
Page 67 and 68:
The audit includes performance of a
Page 69:
MANDATORY APPENDICES:ANNEX 1: Annex
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Economic results for - AÅ½D Praha, sro

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