AI assistant
Dalekovod d.d. — Interim / Quarterly Report 2016
Nov 4, 2016
2088_10-q_2016-11-04_413cf029-5bf4-45e0-8aba-0eb57bf1e197.pdf
Interim / Quarterly Report
Open in viewerOpens in your device viewer
TABLE OF CONTENTS:
- $\mathbb{R}^+$ MANAGEMENT BOARD'S REPORT
- II. DECLARATION
- $III.$ BALANCE SHEET
- $W_{\tau}$ STATEMENT OF COMPREHENSIVE INCOME
- $V_{\rm{H}}$ CASH FLOW STATEMENT
- VI. STATEMENT OF CHANGES IN EQUITY
- VII. NOTES TO FINANCIAL STATEMENTS
MANAGEMENT BOARD'S REPORT
KEY INDICATORS
L
The business results recorded in Q3 2016 show further strong recovery in Company's and Group's business after completing the pre-bankruptcy settlement.
The financial stability of the Group and the Company relies on four key segments - Profitable Growth, Cost-Effectiveness, Cash Flow, and Risk Management.
According to the final unaudited information for the first three quarters of 2016, Dalekovod Group's (the "Group") EBITDA was HRK 99.0 million. In the same period last year, the Group recorded EBITDA of HRK 91.2 million. In the first three quarters of 2016, the Group obtained net income of HRK 44.4 million compared to HRK 31.9 million in the same period in 2015, which is an increase by 39.2 percent.
During the same period, Dalekovod d.d. (the "Company") obtained unaudited EBITDA of HRK 89.1 million, compared to HRK 77.5 million in the first three quarters of 2015. Net income obtained in the first three quarters of 2016 was HRK 48.4 million compared to HRK 41.3 million in the same period in 2015, which is an increase by 17.1 percent.
In addition to the one-time item relating to the income obtained by selling rights to the Ministry of Finance, the projects contracted on foreign markets (Norway, Ukraine, Kosovo, Finland) had the greatest impact on Group's and Company's performance.
As regards our future important activities undertaken in the first three quarters of 2016, a local joint-venture comprising the Croatian companies Dalekovod d.d., DIV d.o.o. and Zagreb-Montaža d.o.o signed a contact in April for the reconstruction of the existing and construction of a second track on the Dugo Selo-Križevci line and the project is already being implemented. In early June, we signed contracts with Statnett of Norway for the construction of a 420 kV Namsos – Hofstad – Åfjord transmission line and a 420 kV Snilldal – Surna transmission having a total length of almost 200 km.
In addition, Dalekovod d.d. decided to proceed to sell its subsidiary Dalekovod Ulaganja d.o.o. to Officium Partner d.o.o. and reclassify it as an asset held for sale, which resulted in an
decrease in certain Balance Sheet items compared to 2015, namely in Real Estate Investments under Noncurrent Assets [AOP 019] and in Current Liabilities to Banks and other Financial Institutions (AOP 096). The Management Board intends to complete this transaction within 3 months to one year at the latest, which is in compliance with International Financial Reporting Standards 5 (IFRS 5).
On the Group level, operating expenses decreased by HRK 56.5 million compared to the same period, while EBITDA margin was 12.8 percent, compared to 11.0 percent in the same period last year. On the Company level, operating expenses decreased by HRK 92.8 million compared to the same period last year, while EBITDA margin was 16.4 percent, compared to 12.3 percent in the same period last year.
Alen Premužak Chairman of the Management Board
Dalekovod d.d.
For the Management Board:
$-1860$
Pursuant to Article 410, paragraph 1, and Article 407, paragraph 2, subparagraph 3 and paragraph 3 of the Capital Market Act, the persons responsible for preparing the financial statements: Alen Premužak, Chairman of the Management Board, Branimir Alujević, Management Board Member, Helena Jurčić Šestan, Management Board Member, Marko Jurković, Management Board Member, Mirko Leko, Management Board Member, and Ivica Kranjčić, Management Board Member, hereby make this
DECLARATION
To the best of our knowledge, the financial statements for the reporting period, prepared in compliance with the appropriate financial reporting standards, provide a full and true view of the assets, liabilities and income of DALEKOVOD and the companies included in consolidation, with a brief comment on the causes of the information provided. The financial statements have not been audited.
For the Management Board? Alen Premužak Chairman of the Management Board
Dalekovod d.d.
| Name of position: | AOP | Previous year (net) |
Current year (net) | Previous year (net) |
Current year (net) |
|---|---|---|---|---|---|
| DALEKOVOD jsc | DALEKOVOD GROUP | ||||
| 1 | 2 | 3 | 4 | 5 | 6 |
| ASSETS | |||||
| A) SUBSCRIBED CAPITAL UNPAID | 001 | 0 | 0 | 0 | |
| B) NON CURRENT ASSETS (003+010+020+029+033) | 002 | 1.014.003.782 | 1.038.630.244 | 1.139.406.819 | 788.870.166 |
| I. INTANGIBLE ASSETS (004 to 009) | 003 | 14.869.072 | 11.112.413 | 17.711.383 | 14.362.892 |
| 1. Research & Dev elopment expenditure |
004 | 0 | 0 | 0 | 0 |
| 2. Patents, licences, roy alties, trade marks, sof tware&similar rights |
005 | 14.139.000 | 10.382.341 | 15.640.602 | 11.854.267 |
| 3. Goodwill | 006 | 0 | 0 | 1.213.000 | 1.213.000 |
| 4. Prepay ments f or intangible assets |
007 | 0 | 0 | 0 | 0 |
| 5. Intangible assets under construction | 008 | 730.072 | 730.072 | 857.781 | 1.295.625 |
| 6. Other intangible assets | 009 | 0 | 0 | 0 | 0 |
| II. TANGIBLE ASSETS (011 to 019) | 010 | 487.578.808 | 474.890.494 | 928.166.467 | 559.949.616 |
| 1. Land | 011 | 166.071.529 | 166.071.529 | 246.495.442 | 246.428.495 |
| 2. Property | 012 | 55.173.659 | 53.269.621 | 206.978.652 | 198.378.540 |
| 3. Plants and equipment | 013 | 49.865.075 | 42.608.486 | 88.906.744 | 80.906.912 |
| 4. Tools, plants&v ehicles |
014 | 2.286.758 | 5.159.851 | 11.640.831 | 17.124.370 |
| 5. Biological asset | 015 | 0 | 0 | 0 | 0 |
| 6. Prepay ments f or tangible assets |
016 | 0 | 0 | 0 | 0 |
| 7. Assets under construction | 017 | 0 | 0 | 10.712.208 | 10.652.208 |
| 8. Other tangible assets 9. Inv estments property |
018 019 |
0 214.181.787 |
0 207.781.007 |
0 363.432.590 |
0 6.459.091 |
| III. NON-CURRENT FINANCIAL ASSETS (021 to 028) | 020 | 482.783.323 | 513.564.625 | 161.524.337 | 173.571.874 |
| 1. Share in related parties | 021 | 285.996.508 | 286.865.919 | 0 | 0 |
| 2. Loans to related parties | 022 | 13.729.680 | 29.307.773 | 0 | 0 |
| 3. Participating interests (stakes) | 023 | 20.241.100 | 20.241.100 | 14.667.309 | 15.284.398 |
| 4. Loans to participating interest | 024 | 0 | 0 | 0 | 0 |
| 5. Inv estments in securities |
025 | 4.254.377 | 3.875.870 | 4.537.472 | 4.158.965 |
| 6. Loans & deposits | 026 | 8.331.640 | 23.923.826 | 15.178.127 | 27.731.735 |
| 7. Other non-current f inancial assets |
027 | 150.230.018 | 149.350.137 | 127.141.429 | 126.396.776 |
| 8. Inv estment accounted by equity method |
028 | 0 | 0 | 0 | 0 |
| IV. TRADE RECEIVABLES (030 to 032) | 029 | 28.772.579 | 39.062.712 | 32.004.632 | 40.985.784 |
| 1. Receiv ables f rom related parties |
030 | 0 | 0 | 720.774 | 1.289.699 |
| 2. Receiv ables f rom credit sales |
031 | 0 | 0 | 0 | 0 |
| 3. Other receiv ables |
032 | 28.772.579 | 39.062.712 | 31.283.857 | 39.696.085 |
| V. DEFERRED TAX ASSETS | 033 | 0 | 0 | 0 | 0 |
| C) CURENT ASSETS (035+043+050+058) | 034 | 695.998.212 | 581.555.214 | 950.046.366 | 874.136.865 |
| I. INVENTORIES (036 to 042) | 035 | 20.488.561 | 10.176.612 | 182.776.062 | 190.954.585 |
| 1. Raw materials & consumables | 036 | 18.474.196 | 8.788.499 | 68.599.673 | 67.723.150 |
| 2. Work in progress | 037 | 0 | 0 | 13.132.497 | 18.693.020 |
| 3. Products | 038 | 266.435 | 244.119 | 25.926.563 | 32.898.020 |
| 4. Merchandise | 039 | 1.747.930 | 1.143.994 | 9.016.213 | 6.807.362 |
| 5. Prepay ments f or inv entories |
040 | 0 | 0 | 1.058.270 | 652.633 |
| 6. Other av ailable-f or-sale assets |
041 | 0 | 0 | 65.042.846 | 64.180.400 |
| 7. Biological asset II. RECEIVABLES (044 to 049) |
042 043 |
0 506.497.579 |
0 427.260.302 |
0 582.682.800 |
0 532.894.312 |
| 1. Receiv ables f rom related parties |
044 | 34.476.796 | 37.705.524 | 0 | 0 |
| 2. Trade receiv ables |
045 | 300.959.133 | 190.436.436 | 397.230.328 | 297.813.768 |
| 3. Receiv ables f rom participating parties |
046 | 715.227 | 523.032 | 798.643 | 795.334 |
| 4. Amounts receiv able f rom employ ees |
047 | 255.351 | 254.452 | 322.613 | 340.013 |
| 5. Receiv ables f rom gov ernment agencies |
048 | 20.992.331 | 13.464.825 | 29.432.856 | 21.036.319 |
| 6. Other receiv ables |
049 | 149.098.741 | 184.876.033 | 154.898.360 | 212.908.878 |
| I I I C U R R E N T F I N AN C I AL AS S E TS ( 0 5 1 t o 0 5 7 ) |
050 | 87.163.048 | 92.068.798 | 82.510.264 | 78.686.753 |
| 1. Share in related parties | 051 | 0 | 0 | 0 | 0 |
| 2. Loans to related parties | 052 | 31.585.316 | 3.841.729 | 0 | 0 |
| 3. Participating interests (stakes) | 053 | 0 | 0 | 0 | 0 |
| 4. Loans to participating interest | 054 | 0 | 0 | 0 | 0 |
| 5. Inv estments in securities |
055 | 30.377.143 | 30.471.766 | 30.377.143 | 30.471.766 |
| 6. Loans & deposits | 056 | 25.200.589 | 57.755.303 | 52.133.120 | 48.214.987 |
| 7. Other f inancial assets |
057 | 0 | 0 | 0 | 0 |
| IV. CASH ON HAND AND IN THE BANK | 058 | 81.849.024 | 52.049.502 | 102.077.241 | 71.601.215 |
| D) PREPAYMENTS AND ACCRUED INCOME | 059 | 1.897.912 | 2.517.272 | 2.401.002 | 2.842.270 |
| E) TOTAL ASSETS (001+002+034+059) | 060 | 1.711.899.906 | 1.622.702.730 | 2.091.854.187 1.665.849.301 | |
| F) OFF-BALANCE SHEET ITEMS | 061 | 652.402.930 | 765.907.664 | 680.360.486 | 831.998.260 |
| Name of position: | AOP | Previous year (net) |
Current year (net) | Previous year (net) |
Current year (net) |
|---|---|---|---|---|---|
| DALEKOVOD jsc | DALEKOVOD GROUP | ||||
| 1 | 2 | 3 | 4 | 5 | 6 |
| EQUITY AND LIABILITIES | |||||
| A) CAPITAL AND RESERVES (063+064+065+071+072+075+078) | 062 | 325.083.979 | 372.834.057 | 302.298.711 | 345.633.425 |
| I. SHARE CAPITAL | 063 | 247.193.050 | 247.193.050 | 247.193.050 | 247.193.050 |
| II. CAPITAL RESERVES | 064 | 86.141.670 | 86.141.670 | 86.141.670 | 86.141.670 |
| III. RESERVES FROM PROFIT (066+067-068+069+070) | 065 | 44.324.747 | 43.675.007 | 76.306.051 | 75.206.683 |
| 1. Legal reserv es |
066 | 11.486.600 | 11.486.600 | 11.652.410 | 11.652.410 |
| 2. Reserv es f or own shares |
067 | 7.816.210 | 8.465.950 | 7.816.210 | 8.465.950 |
| 3. Own shares and stakes (less) | 068 | 7.816.210 | 8.465.950 | -7.816.210 | -8.465.950 |
| 4. Statutory reserv es |
069 | 32.838.147 | 32.188.407 | 32.838.147 | 32.188.407 |
| 5. Other reserv es |
070 | 0 | 0 | 31.815.494 | 31.365.866 |
| IV. REVALUATION RESERVES | 071 | 40.016.573 | 40.016.573 | 40.014.627 | 40.014.627 |
| V. RETAINED EARNINGS OR LOSS BROUGHT FORWARD (073-074) | 072 | -123.741.931 | -92.592.061 | -150.679.460 | -146.660.818 |
| 1. Retained earnings | 073 | 0 | 0 | 0 | 0 |
| 2. Loss brought f orward |
074 | 123.741.931 | 92.592.061 | 150.679.460 | 146.660.818 |
| VI. PROFIT OR LOSS FOR THE FINANCIAL YEAR (076-077) | 075 | 31.149.870 | 48.399.818 | 4.018.643 | 44.431.841 |
| 1. Prof it f or the f inancial y ear |
076 | 31.149.870 | 48.399.818 | 4.018.643 | 44.431.841 |
| 2. Loss f or the f inancial y ear |
077 | 0 | 0 | 0 | 0 |
| VII. MINORITY INTEREST | 078 | 0 | 0 | -695.870 | -693.628 |
| B) PROVISIONS (080 to 082) | 079 | 26.468.723 | 10.190.349 | 29.625.995 | 13.297.944 |
| 1. Prov isions f or pensions, sev erance pay and similar libabilities |
080 | 3.841.498 | 2.791.000 | 6.794.225 | 5.785.849 |
| 2. Prov isions f or tax obligations |
081 | 0 | 0 | 0 | 0 |
| 3. Other prov isions |
082 | 22.627.225 | 7.399.349 | 22.831.770 | 7.512.095 |
| C) NON-CURRENT LIBILITIES (084 to 092) | 083 | 648.462.527 | 616.360.290 | 600.227.570 | 568.604.795 |
| 1. Liabilites to related parties | 084 | 49.488.201 | 49.651.591 | 0 | 0 |
| 2. Liabilities f or loans, deposits and other |
085 | 0 | 0 | 0 | 0 |
| 3. Liabilities towards banks and other f inancial institutions |
086 | 372.246.507 | 367.360.347 | 372.750.778 | 368.555.969 |
| 4. Amounts pay able f or prepay ment |
087 | 0 | 0 | 0 | 0 |
| 5. Trade pay ables |
088 | 46.557.538 | 19.387.431 | 46.606.037 | 19.316.918 |
| 6. Amounts pay able f or securities |
089 | 169.497.514 | 169.497.514 | 170.197.988 | 170.197.988 |
| 7. Liabilities toward participating interests | 090 | 668.624 | 459.264 | 668.624 | 529.777 |
| 8. Other non-current liabilities | 091 | 0 | 0 | 0 | 0 |
| 9. Def f ered tax |
092 | 10.004.143 | 10.004.143 | 10.004.143 | 10.004.143 |
| D) CURRENT LIABILITIES (094 to 105) | 093 | 697.378.551 | 617.496.247 | 1.145.195.785 | 732.491.350 |
| 1. Liabilites to related parties | 094 | 51.323.164 | 31.057.399 | 0 | 0 |
| 2. Liabilities f or loans, deposits and other |
095 | 402.220 | 0 | 0 | 0 |
| 3. Liabilities towards banks and other f inancial institutions |
096 | 174.210.871 | 134.307.745 | 517.160.260 | 173.299.175 |
| 4. Amounts pay able f or prepay ment |
097 | 105.548.698 | 152.657.587 | 109.296.214 | 159.194.418 |
| 5. Trade pay ables |
098 | 209.940.651 | 154.030.113 | 274.679.369 | 215.759.914 |
| 6. Amounts pay able f or securities |
099 | 58.509.271 | 58.509.271 | 58.509.272 | 58.509.272 |
| 7. Liabilities toward participating interests | 100 | 0 | 0 | 1.571.520 | 1.044.281 |
| 8. Liabilities to emloy ees |
101 | 17.605.673 | 21.147.605 | 41.690.867 | 44.615.746 |
| 9. Taxes, contributions and similar liabilities | 102 | 12.063.713 | 25.072.425 | 18.832.466 | 31.778.326 |
| 10. Liabilities arising f rom share in the result |
103 | 100.985 | 100.985 | 100.985 | 100.985 |
| 11. Liabilities arising f rom non-current assets held f or sale |
104 | 0 | 0 | 0 | 0 |
| 12. Other current liabilities | 105 | 67.673.305 | 40.613.117 | 123.354.833 | 48.189.233 |
| E) ACCRUED EXPENSES AND DEFERRED INCOME | 106 | 14.506.126 | 5.821.787 | 14.506.127 | 5.821.787 |
| F) TOTAL LIABILITIES (062+079+083+093+106) | 107 | 1.711.899.906 | 1.622.702.730 | 2.091.854.187 1.665.849.301 | |
| G) OFF-BALANCE SHEET ITEMS | 108 | 652.402.930 | 765.907.664 | 680.360.486 | 831.998.260 |
| ANNEX TO THE BALANCE SHEET (to be filled in by a company preparing the consolidated annual financial statements) | |||||
| A) CAPITAL AND RESERVES | |||||
| 1. Attributable to equity holders of the parent company 's capital |
109 | 302.994.580 | 346.327.053 | ||
| 2. Attributable to non-controlling interests | 110 | -695.870 | -693.628 |
| Name of position | AOP | 1H 2015 | 1H 2016 | 1H 2015 | 1H 2016 |
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 |
| DALEKOVOD J.S.C. | DALEKOVOD GROUP | ||||
| I. OPERATING INCOME (112+113) | 111 | 691.611.390 | 610.289.154 | 890.755.415 | 844.103.224 |
| 1. Sales rev enue 2. Other operating income |
112 113 |
631.373.617 60.237.773 |
541.464.609 68.824.545 |
826.859.733 63.895.682 |
771.807.280 72.295.944 |
| II. OPERATING EXPENSES (115+116+120+124+125+126+129+130) | 114 | 639.568.997 | 546.800.843 | 837.746.935 | 781.221.708 |
| 1. Changes in inv entories of f inished products and work in progress |
115 | 40.367 | 30.049 | 7.466.986 | -12.526.721 |
| 2. Material costs (117 to 119) | 116 | 440.466.001 | 345.900.932 | 507.099.790 | 485.489.237 |
| a) Cost of raw materials & consumables |
117 | 126.625.472 | 142.574.974 | 187.877.458 | 199.938.259 |
| b) Cost of goods sold c) Other costs |
118 119 |
50.606.777 263.233.752 |
47.504.208 155.821.750 |
56.067.060 263.155.272 |
99.458.691 186.092.287 |
| 3. Staf f costs (121 to 123) |
120 | 99.394.409 | 120.471.343 | 168.932.802 | 191.223.410 |
| a) Net salaries | 121 | 68.339.692 | 90.213.704 | 110.539.768 | 133.196.662 |
| b) Employ ee income tax |
122 | 19.735.109 | 19.338.986 | 39.257.073 | 37.629.926 |
| c) Tax on pay roll |
123 | 11.319.608 | 10.918.653 | 19.135.961 | 20.396.822 |
| 4. Depreciation and amortisation | 124 | 25.428.069 | 25.567.997 | 38.218.859 | 36.124.775 |
| 5. Other expenditures 6. Value adjustment (127+128) |
125 126 |
10.399.658 1.146 |
7.727.212 9.763 |
19.030.567 83.756 |
15.346.920 31.914 |
| a) non-current assets (without f inancial assets) |
127 | 1.146 | 9.763 | 83.756 | 31.914 |
| b) current asssets (without f inancial assets) |
128 | 0 | 0 | 0 | 0 |
| 7. Prov isions |
129 | 0 | 0 | 171.436 | 0 |
| 8. Other operating expenses | 130 | 63.839.347 | 47.093.547 | 96.742.739 | 65.532.173 |
| I I I F I N AN C I AL I N C O ME ( 1 3 2 t o 1 3 6 ) |
131 | 15.777.958 | 4.042.577 | 2.098.785 | 7.944.841 |
| 1. Interest income, f oreign exhange dif f erences, div idends and other f inancial income related to subsidiaries |
132 | 13.589.668 | 2.569.159 | 0 | 0 |
| 2. Interest income, f oreign exchange dif f erences, div idends and other f inancial |
133 | 2.188.290 | 1.473.418 | 2.058.854 | 7.950.973 |
| income related to third parties 3. Part of income f rom associates and participating interests |
134 | 0 | 0 | 0 | 0 |
| 4. Unrealized gains (income) f rom the f inancial assets |
135 | 0 | 0 | 0 | 0 |
| 5. Other f inancial income |
136 | 0 | 0 | 39.931 | -6.132 |
| IV. FINANCIAL COSTS (138 to 141) | 137 | 17.747.333 | 15.888.051 | 17.501.266 | 23.330.595 |
| 1. Interest, f oreign exchange df if f erences and other expenses related to subsidiaries |
138 | 1.341.072 | 946.441 | 0 | 0 |
| 2. Interest, f oreign exchange dif f erences and other expenses related to third parties |
139 | 16.406.261 | 14.941.610 | 17.499.694 | 23.327.830 |
| 3. Unrealized loss (expenses) f rom the f inancial assets |
140 | 0 | 0 | 0 | 0 |
| 4. Other f inancial expenses |
141 | 0 | 0 | 1.572 | 2.765 |
| V. SHARE OF INCOME OF ASSOCIATES |
142 | 0 | 0 | 5.036.865 | 617.089 |
| VI. SHARE OF LOSS OF ASSOCIATES VII. EXTRAORDINARY - OTHER INCOME |
143 144 |
0 0 |
0 0 |
0 | 0 |
| VIII. EXTRAORDINARY - OTHER EXPENSES | 145 | 0 | 0 | ||
| IX. TOTAL INCOME (111+131+142 + 144) | 146 | 707.389.348 | 614.331.731 | 897.891.065 | 852.665.154 |
| X. TOTAL EXPENSES (114+137+143 + 145) | 147 | 657.316.330 | 562.688.894 | 855.248.201 | 804.552.303 |
| XI. PROFIT OR LOSS BEFORE TAX (146-147) | 148 | 50.073.018 | 51.642.837 | 42.642.864 | 48.112.851 |
| 1. Prof it bef ore tax (146-147) |
149 | 50.073.018 | 51.642.837 | 42.642.864 | 48.112.851 |
| 2. Loss bef ore tax (147-146) XII. INCOME TAX EXPENSE |
150 151 |
0 8.724.598 |
0 3.243.019 |
0 10.733.514 |
0 3.681.010 |
| XIII. PROFIT OR LOSS FOR THE PERIOD (148-151) | 152 | 41.348.420 | 48.399.818 | 31.909.350 | 44.431.841 |
| 1. Prof it f or the period (149-151) |
153 | 41.348.420 | 48.399.818 | 31.909.350 | 44.431.841 |
| 2. Loss f or the period (151-148) |
154 | 0 | 0 | ||
| ANNEX TO THE PROFIT AND LOSS ACCOUNT (to be filled in by entities submitting consolidated financial statements) | |||||
| XIV. PROFIT OR LOSS FOR THE PERIOD 1. Attributable to owners of the company |
155 | 0 | 0 | 32.172.790 | 44.431.841 |
| 2. Attributable to non-controlling interests | 156 | 0 | 0 | -263.440 | |
| STATEMENTS OF COMPREHENSIVE INCOME (to be filled by entities who work in compliance with IFRS) | |||||
| I. PROFIT OR LOSS FOR THE PERIOD (= 152) | 157 | 41.348.420 | 48.399.818 | 31.909.350 | 44.431.841 |
| II. OTHER COMPREHENSIVE INCOME /LOSS BEFORE TAX (159 to 165) | 158 | 0 | -447.689 | ||
| 1. Exchange dif f erences arising f rom f oreign operations |
159 | -447.689 | |||
| 2. Rev aluation of non-current assets and intangible assets 3. Gains or loss av ailable f or sale inv estments |
160 161 |
||||
| 4. Gains or loss on net mov ement on cash f low hedges |
162 | ||||
| 5. Gains or loss on net inv estments hedge |
163 | ||||
| 6. Share of the other comprehensiv e income/loss of associates |
164 | ||||
| 7. Acturial gain / loss on post employ ment benef it obligations |
165 | ||||
| III. TAX ON OTHER COMPREHENSIVE INCOME OF THE PERIOD | 166 | ||||
| IV. NET OTHER COMPREHENSIVE INCOME OR LOSS FOR THE YEAR (158-166) | 167 | -447.689 | |||
| V. TOTAL COMPREHENSIVE INCOME/LOSS FOR THE PERIOD (157+167) APPENDIX Statement of Comprehensive Income (to be filled in by entities submitting consolidated financial statements) |
168 | 41.348.420 | 48.399.818 | 31.909.350 | 43.984.152 |
| VI. TOTAL COMPREHENSIVE INCOME/LOSS FOR THE PERIOD | |||||
| 1. Attributable to owners of the company | 169 | 0 | 0 | 43.986.394 | |
| 2. Attributable to non-controlling interests | 170 | 0 | 0 | -2.242 |
| Name of position: | AOP | Previous period |
Current period | Previous period |
Current period |
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 |
| DALEKOVOD jsc | DALEKOVOD GROUP | ||||
| CASH FLOW FROM OPERATING ACTIVITIES | |||||
| 1. Pre-tax prof it |
001 | 50.073.018 | 51.642.837 | 42.642.865 | 48.112.851 |
| 2. Depreciation | 002 | 25.428.069 | 25.567.997 | 38.218.859 | 36.124.775 |
| 3. Increase in short-term liabilities | 003 | 38.324.151 | 0 | 38.113.715 | 0 |
| 4. Decrease in short-term receiv ables |
004 | 0 | 107.486.164 | 0 | 99.419.869 |
| 5. Reduction of stocks |
005 | 0 | 10.311.949 | 10.206.836 | 0 |
| 6. Other increase in cash f low |
006 | 0 | 0 | 0 | 0 |
| I. Total increase in cash flow from operating activities (001 to 006) | 007 | 113.825.238 | 195.008.947 | 129.182.275 | 183.657.494 |
| 1. Decrease in short-term liabilities | 008 | 0 | 76.176.303 | 0 | 59.446.693 |
| 2. Increase in short-term receiv ables |
009 | 54.906.664 | 0 | 51.465.994 | 0 |
| 3. Increase in stocks | 010 | 2.603.161 | 0 | 0 | 8.178.523 |
| 4. Other decrease in cash f low |
011 | 22.591.916 | 53.720.117 | 17.342.772 | 77.083.739 |
| II Total decrease in cash flow from operating activities (008 to 011) | 012 | 80.101.741 | 129.896.420 | 68.808.766 | 144.708.955 |
| A1) NET INCREASE IN CASH FLOW FROM FINANCIAL ACTIVITIES (007-012) | 013 | 33.723.497 | 65.112.527 | 60.373.509 | 38.948.539 |
| A2) NET DECREASE IN CASH FLOW FROM OPERATING ACTIVITIES (012-007) | 014 | 0 | 0 | 0 | 0 |
| CASH FLOW FROM INVESTMENT ACTIVITIES | |||||
| 1. Cash receipts f rom sale of f ixed tangible and intangible assets |
015 | 76.443 | 0 | 86.225 | 6.828.113 |
| 2. Cash receipts f rom sale of treasury and debt f inancial instruments |
016 | 1.830.822 | 0 | 5.331.858 | 0 |
| 3. Cash receipts f rom interests |
017 | 1.223.912 | 0 | 314.313 | 0 |
| 4. Cash receipts f rom div idends |
018 | 8.343.604 | 0 | 0 | 0 |
| 5. Other cash receipts f rom inv estment activ ities |
019 | 6.334.677 | 378.507 | 6.800.000 | 411.449 |
| III. Total cash receipts from investment activities (015 to 019) | 020 | 17.809.458 | 378.507 | 12.532.396 | 7.239.561 |
| 1. Expenditures f or buy ing f ixed assets and intangible assets |
021 | 16.637.112 | 8.399.789 | 8.739.241 | 23.929.926 |
| 2. Expenditures f or purchasing treasury and debt f inancial instruments |
022 | 46.413 | 869.411 | 46.413 | 0 |
| 3. Other expenditures f rom inv estment activ ities |
023 | 35.867.452 | 35.090.703 | 36.506.334 | 16.282.895 |
| IV. Total expenditures from investment activities (021 to 023) | 024 | 52.550.977 | 44.359.903 | 45.291.988 | 40.212.821 |
| B1) NET INCREASE IN CASH FLOW FROM INVESTMENT ACTIVITIES (020-024) | 025 | 0 | 0 | 0 | 0 |
| b2) NET DECREASE IN CASH FLOW FROM INVESTMENT ACTIVITIES (024-020) | 026 | 34.741.519 | 43.981.396 | 32.759.592 | 32.973.260 |
| CASH FLOW FROM FINANCIAL ACTIVITIES | |||||
| 1. Cash receipts f rom issuance of treasury and debt f inancial instruments |
027 | 0 | 0 | 0 | 0 |
| 2. Cash receipts f rom loan principal, bonds, borrowings and other loans |
028 | 7.387.593 | 0 | 14.949.847 | 44.673.374 |
| 3. Total cash receipts f rom f inancial activ ities |
029 | 0 | 0 | 0 | 0 |
| V. Total cash receipts from financial activities (027 to 029) | 030 | 7.387.593 | 0 | 14.949.847 | 44.673.374 |
| 1. Expenditures f or repay ment of loan principal and bonds |
031 | 0 | 0 | 15.967.355 | 30.059.134 |
| 2. Expenditures f or pay ment of div idends |
032 | 0 | 0 | 0 | 0 |
| 3. Expenditures f or f inancial leasing |
033 | 6.627.113 | 10.377.787 | 6.791.195 | 10.512.680 |
| 4. Expenditures f or redemption of treasury shares |
034 | 0 | 649.740 | 0 | 649.740 |
| 5. Other expenditures f rom f inancial activ ities |
035 | 1.472.577 | 39.903.126 | 19.865.902 | 39.903.126 |
| VI. Total expenditures from financial activities (031 to 035) | 036 | 8.099.690 | 50.930.653 | 50.968.056 | 81.124.679 |
| C1) NET INCREASE IN CASH FLOW FROM FINANCIAL ACTIVITIES (030-036) | 037 | 0 | 0 | 0 | 0 |
| C2) NET DECREASE IN CASH FLOW FROM FINANCIAL ACTIVITIES (036-030) | 038 | 712.097 | 50.930.653 | 36.018.209 | 36.451.305 |
| Total increase in cash f low (013 – 014 + 025 – 026 + 037 – 038) |
039 | 0 | 0 | 0 | 0 |
| Total decrease in cash f low (014 – 013 + 026 – 025 + 038 – 037) |
040 | 1.730.119 | 29.799.522 | 8.404.292 | 30.476.026 |
| Cash and cash equivalents at the beginning of the period | 041 | 41.762.484 | 81.849.024 | 66.387.214 | 102.077.241 |
| Increase in cash and cash equivalents | 042 | 0 | 0 | 0 | 0 |
| Decrease in cash and cash equivalents | 043 | 1.730.119 | 29.799.522 | 8.404.292 | 30.476.026 |
| Cash and cash equivalents at the end of the period | 044 | 40.032.365 | 52.049.502 | 57.982.922 | 71.601.215 |
| Name of position: | AOP | Previous period |
Current period |
Previous period |
Current period |
|---|---|---|---|---|---|
| DALEKOVOD jsc | DALEKOVOD GROUP | ||||
| 1 | 2 | 3 | 4 | 5 | 6 |
| 1. Share capital | 001 | 247.193.050 | 247.193.050 | 247.193.050 | 247.193.050 |
| 2. Capital reserves | 002 | 86.141.670 | 86.141.670 | 86.141.670 | 86.141.670 |
| 3. Reserves from profit | 003 | 44.324.747 | 43.675.007 | 76.306.051 | 75.206.683 |
| 4. Retained profit or loss carried forw ard |
004 | -123.741.931 | -92.592.061 | -151.375.330 | -147.354.446 |
| 5. Profit or loss of current year | 005 | 31.149.870 | 48.399.818 | 4.018.643 | 44.431.841 |
| 6. Revaluation of longterm tangible assets | 006 | 40.016.573 | 40.016.573 | 40.014.627 | 40.014.627 |
| 7. Revaluation of intangible assets | 007 | ||||
| 8. Revaluation of financial assets available for sale | 008 | ||||
| 9. Other revaluations | 009 | ||||
| 10.Total equity and reserves (AOP 001 to 009) | 010 | 325.083.979 | 372.834.057 | 302.298.711 | 345.633.425 |
| 11. Foreign exchange differences arising from the titles of net | 011 | -632.000 | -447.689 | ||
| 12. Current and deferred taxes (part) | 012 | ||||
| 13. Cash flow protection |
013 | ||||
| 14. Changes in accounting policies | 014 | ||||
| 15. Correction of significant errors in the previous period | 015 | 0 | 0 | ||
| 16. Other changes in equity | 016 | 0 | 0 | 3.591.581 | 43.784.645 |
| 17. Total increase or decrease in equity (AOP 011 to 016) | 017 | 0 | 0 | 2.959.581 | 43.336.956 |
| 17 a. Attributed to parent company equity holders | 018 | 2.910.711 | 43.334.714 | ||
| 17 b. Attributed to minority interest | 019 | 48.870 | 2.242 |
NOTES TO FINANCIAL STATEMENTS VII
1. BASIC DETAILS
MANAGEMENT BOARD
Alen Premužak - Chairman of the Management Board Branimir Alujević - Management Board Member Helena Jurčić Šestan - Management Board Member Marko Jurković - Management Board Member Mirko Leko - Management Board Member Ivica Kranjčić - Management Board Member
SUPERVISORY BOARD
Marko Lesić - Chairman of the Supervisory Board Ivan Peteržilnik - Deputy Chairman of the Supervisory Board Krešimir Ružđak - Supervisory Board Member Vlado Čović - Supervisory Board Member Hrvoje Markovinović - Supervisory Board Member Uwe Heiland - Supervisory Board Member Marko Makek - Supervisory Board Member Mirela Tomljanović Radović - Supervisory Board Member Anton Pernar - Supervisory Board Member Dalekovod dioničko društvo za inženjering, proizvodnju i izgradnju Marijana Čavića 4, 10 000 Zagreb, Croatia 10001 Zagreb, P.P. 128 URL: www.dalekovod.hr. www.dalekovod.com E-mail: [email protected] Share capital: HRK 247,193,050.00. Number of shares: 24,719,305 IBAN: HR8323600001101226102 ZABA Zagreb REG. NO.: (MBS): 080010093, Commercial Court in Zagreb Stat. No.: 3275531 PIN: 47911242222 Activity code: 4222 (Construction of utility projects for electricity and telecommunications)
2. SHAREHOLDINGS (as at 30 September 2016):
| Individuals | 4,183,921 |
|---|---|
| Financial institutions | 4,409,596 |
| Konsolidator d.o.o. | 15,000,000 |
| Others | 1,026,947 |
| Own shares | 98,841 |
| TOTAL | 24,719,305 |
3. MERGERS AND CONSOLIDATIONS
There were no mergers or consolidations in the first nine months of 2016.
4. UNCERTAINTY
No items of doubtful and bad debt affecting business continuity were identified in the first nine months of 2016.
5. DESCRIPTION OF PRODUCTS AND SERVICES
Over time, Dalekovod jsc has become specialized in performing contracts on a turnkey basis in the following areas:
- electrical facilities, especially transmission lines between 0.4 and 500 kV
- transformer stations of all levels and voltages up to 500 kV
- air, underground and underwater cables up to 110 kV
- telecommunication facilities, all types of networks and antennas
• production of suspension and joining equipment for all types of transmission lines and transformer stations between 0.4 and 500 kV
• production and installation of all metal parts for roads, especially for road lighting, security barriers and traffic signals, tunnel lighting and traffic management
• electrification of railway tracks and trams
6. CHANGES IN ACCOUNTING POLICIES
There are no new accounting policies.