Annual report 2005 - Sava dd

| notes to the financial statements of the company Sava d.d. in accordance with SAS |
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On 31 December 2004 revaluation adjustments totalled
788,218,000 tolars. In 2005 an additional revaluation
adjustment in other short-term financial investments
was formed in the amount of 352,093,000 tolars and the
adjustment in the amount of 379,614,000 tolars was
eliminated. The revaluation adjustments balance at 31
December 2005 totalled 760,697,000 tolars, which
reflects the value adjusting to the stock exchange price.
Capital
The capital in the amount of 76,263,873,000 tolars is 12
per cent higher than last year.
In the structure of liabilities the capital has a 72.2 per
cent share.
In 2005 the following changes that influenced capital
were carried out:
• Net profit for the financial year of 4,288,280,000
tolars was created.
• Other revenue reserves were increased in accordance
with the proposal by the Board of Management and the
proposal by the Supervisory Board by 50 per cent of
the net profit in the amount of 2,144,140,000 tolars.
• According to the resolution of the Shareholders’
Meeting the sum of 1,242,294,000 tolars was
earmarked for dividends.
Already in 2004 the accounting principles in Sava d.d.
changed as regards using the equity method for treating
profits in subsidiaries. Interests in the profit of
subsidiaries are included under the specific equity
revaluation adjustments for long-term financial
investments and not under financial revenues. The total
specific equity revaluation adjustments for long-term
financial investments in the amount of 10,578,321,000
tolars include the following items:
• investments in subsidiaries in the amount of
2,680,500,000 tolars;
• investment in Gorenjska Banka in the amount of
7,897,821,000 tolars.