annual report IMOS Brno, a.s / english version

Transcription

1 ANNUAL REPORT 2014

2 annual report IMOS Brno, a.s / english version

3 Table of Contents Basic Data about the Company and its Bodies... 3 Human Resources, Turnover, Organisational Structure... 4 Balance sheet... 5 Profit and Loss Statement Cash flow Statement Notes to the Financial Statement Auditor s Report on an audit of financial statements Auditor s report an on audit of the annual report

4 Basic Data about the Company and its Bodies Name: Head office: Incorporated by: IMOS Brno, a.s. Olomoucká 704/174, Černovice, Brno Commercial Register kept by the Regional Court in Brno, section B, file 2211 Date of incorporation: ID no.: Tax ID no.: CZ Tel.: Fax: Legal form: Joint-stock company Statutory body: Board of Directors Registered capital: 205,000,000 CZK Shareholder holding more than 20% of shares: IMOS holding, a.s. Stock: 204 registered shares in the par value of 1,000,000 CZK each 2 registered shares in the par value of 500,000 CZK each Board of Directors of the Company Ing. Robert Suchánek Ing. Milan Karásek Ing. Aleš Špinar David Platzer Chairman of the Board and Managing Director Member of the Board and Civil Engineering Brno Branch Director Member of the Board and Water Management and Road Construction Brno Branch Director Member of the Board and Ostrava Branch Director Supervisory Board Ing. Jan Sniegon Ing. Ivan Sigmund Ing. Oldřich Štercl Chairman of the Supervisory Board Member of the Supervisory Board Member of the Supervisory Board Company Profile and Integrated Quality Management System A) Civil engineering - industrial plants - shopping malls - civil facilities B) Water management structures - Sewerage systems, waste water treatment plants, water ducts and water course management structures - Complete networks of technical infrastructure, landscaping, extensive earthworks C) Road construction - Motorways, expressways, roads, bridges and engineering structures D) Road development and accredited testing laboratory 3

5 Human Resources; Turnover The company has always paid great attention to the selection of its employees. We strive to get top quality professionals and support them in improving their specialist skills in order to satisfy investors needs. This is also demonstrated by the ever growing number of authorised engineers and technicians working for the company at the moment there are 42 of them. The table below shows the average headcount in previous years. The other table shows the company s turnover in the last eight years.. Overview of Average Annual Headcount in Total HEADCOUNT YEAR Turnover TURNOVER 8 6, ,9376 5,8105 4,2000 5,5030 6,0860 5, , YEAR Organisational Chart IMOS Brno, a.s. Board of Directors Managing Director Slovakia Branch Ostrava Branch Legal Services (external) Brno Branch Civil Engineering Brno Branch Water Management and Road Structures Sales Department Finance and Administration Department Technical Department Brno Property Management Department Department of Technical Services of Production Road Development Division 4

6 Balance Sheet Row Assets Current accounting period Gross Adjustment Net Previous period Net 1 TOTAL ASSETS (r ) A. 2 Receivables from subscriptions B. 3 Fixed assets (r ) B.I. 4 Intangible fixed assets (r.05 to 12) B.I.1 5 Incorporation expenses B.I.2 6 Research and development B.I.3 7 Software B.I.4 8 Valuable rights B.I.5 9 Goodwill ( +/- ) B.I.6 10 Other intangible fixed assets B.I.7 11 Intangible fixed assets under construction B.I.8 12 Advance payments for intangible fixed assets B.II. 13 Tangible fixed assets (r.14 to 22) B.II.1 14 Lands B.II.2 15 Constructions B.II.3 16 Equipment B.II.4 17 Perennial corps B.II.5 18 Breeding and draught animals B.II.6 19 Other tangible fixed assets B.II.7 20 Tangible fixed assets under construction B.II.8 21 Advance payments for tangible fixed assets B.II.9 22 Adjustment to acquired assets B.III. 23 Long-term financial assets (r. 24 to 30) B.III.1 24 Shares - controlled organizations B.III.2 25 Shares in accounting units with substantial influence B.III.3 26 Other securities and shares B.III.4 27 Loans - controlled and controlling organizations, substantial influence B.III.5 28 Other financial investments B.III.6 29 Financial investments acquired B.III.7 30 Advance payments for long-term financial assets C. 31 Current assets (r ) C.I. 32 Inventory (r.33 to 38) C.I.1 33 Materials C.I.2 34 Work in progress and semi-products C.I.3 35 Finished products C.I.4 36 Animals C.I.5 37 Merchandise C.I.6 38 Advance payments for inventory C.II. 39 Long-term receivables (r. 40 to 47) C.II.1 40 Trade receivables C.II.2 41 Receivables - controlled and controlling organizations C.II.3 42 Receivables - accounting units with substantial influence C.II.4 43 Receivables from partners C.II.5 44 Long-term deposits given C.II.6 45 Estimated receivable C.II.7 46 Other receivables C.II.8 47 Deffered tax receivable C.III. 48 Short-term receivables (r. 49 to 57) C.III.1 49 Trade receivables C.III.2 50 Receivables - controlled and controlling organizations C.III.3 51 Receivables - accounting units with substantial influence C.III.4 52 Receivables from partners C.III.5 53 Receivables from social security and health insurance C.III.6 54 Due from state - tax receivable C.III.7 55 Short-term deposits given C.III.8 56 Estimated receivable

7 Row Assets Current accounting period Gross Adjustment Net Previous period Net C.III.9 57 Other receivables C.IV. 58 Short-term financial assets (r. 59 to 62) C.IV.1 59 Cash C.IV.2 60 Bank accounts C.IV.3 61 Short-term securities and ownership interests C.IV.4 62 Short-term financial assets acquired D.I. 63 Accruals (r. 64 to 66) D.I.1 64 Deferred expenses D.I.2 65 Complex deferred costs D.I.2 66 Deferred income Row Assets Current accounting period Previous period 67 TOTAL LIABILITIES (r ) A. 68 Equity (r ) A.I. 69 Registered capital (r. 70 to 72 ) A.I.1 70 Registered capital A.I.2 71 Company s own shares and ownership interests (-) 0 0 A.I.3 72 Changes of registered capital ( +/- ) 0 0 A.II. 73 Capital funds (r. 74 to 79) A.II.1 74 Share premium 0 0 A.II.2 75 Other capital funds A.II.3 76 Diferences from revaluation of assets and liabilities ( +/- ) A.II.4 77 Diferences from revaluation in tranformation of companies 0 0 ( +/- ) A.II.5 78 Diferences from tranformation of companies ( +/- ) 0 0 A.II.6 79 Diferences from valuation in tranformation of companies 0 0 ( +/- ) A.III. 80 Funds from earnings (r ) A.III.1 81 Reserve fund A.III.2 82 Statutory and other funds 0 0 A.IV. 83 Profit / loss - previous years (r. 84 to 86) A.IV.1 84 Retained earnings from previous years A.IV.2 85 Accumulated losses from previous years 0 0 A.IV.3 86 Other profit / loss - previous years 0 0 A.V.1 87 Profit / loss - current year (+/-) A.V.1 88 Profit / loss - current year (+/-) A.V.2 89 Decided on advance for payment of a profit share (-) 0 0 B. 90 Other sources (r ) B.I. 91 Reserves (r. 91 to 94) B.I.1 92 Reserves under special statutory regulations 0 0 B.I.2 93 Reserves for pension and similar payables 0 0 B.I.3 94 Income tax reserves 0 0 B.I.4 95 Other reserves B.II. 96 Long-term payables (r. 96 to 105) B.II.1 97 Trade payables B.II.2 98 Payables - controlled and controlling organizations 0 0 B.II.3 99 Payables - accounting units with substantial influence 0 0 B.II Payables to partners 0 0 B.II Long-term advances received 0 0 B.II Issues bonds 0 0 B.II Long-term notes payables 0 0 B.II Estimated payables 0 0 B.II Other payables 0 0 B.II Deffered tax liability B.III. 107 Short-term payables (r. 107 to 117)

8 Ident. Laufende Periode Vorjahr B.III Trade payables B.III Payables - controlled and controlling organizations 0 0 B.III Payables - accounting units with substantial influence 0 0 B.III Payables to partners B.III Payroll B.III Payables to social securities and health insurance B.III Due from state - tax liabilities and subsidies B.III Short-term deposits received B.III Issues bonds 0 0 B.III Estimated payables B.III Other payables B.IV. 119 Bank loans and financial accomodations (r. 119 to 121) 0 0 B.IV Long-term bank loans 0 0 B.IV Short-term bank loans 0 0 B.IV Short-term accomodations 0 0 C.I. 123 Accruals (r ) C.I Accrued expenses C.I Deffered revenues Profit and Loss Statement Row Text Current period Previous period I. 1 Revenues from sold goods 0 A. 2 Expenses on sold goods Sale margin (r ) 0 0 II. 4 Production (r ) II.1 5 Revenues from own products and services II.2 6 Change in inventory of own products II.3 7 Capitalisation B. 8 Production consumption (r ) B.I.1 9 Consumption of material and energy B.I.2 10 Services Added value (r ) C. 12 Personnel expenses (r. 12 to 16) C.1 13 Wages and salaries C.2 14 Renumeration of board members 0 0 C.3 15 Social security expenses and health insurance C.4 16 Other social expenses D. 17 Taxes and fees E. 18 Depreciations of intangible and tangible assets III. 19 Revenues from disposals of fixed assets and materials (r ) III.1 20 Revenues from disposals of fixed assets III.2 21 Revenues from disposals of materials F. 22 Net book value of diposed fixed assets and materials (r ) F.1 23 Net book value of sold fixed assets F.2 24 Net book value of sold material G. 25 Change in operating reserves and adjustments and complex deferred costs ( + / - ) IV. 26 Other operating revenues H. 27 Other operating expenses V. 28 Transfer of operating revenues 0 0 I. 29 Transfer of operating expenses 0 0 * 30 "Operating profit / loss [Z (-28) - (-29) ]" VI. 31 Revenues from sales of securities and ownership interests 0 0 7

9 Row Text Current period Previous period J. 32 Sold securities and ownership interests 0 0 VII. 33 Revenues from long-term financial assets ( ř ) 0 0 VII.1 34 Revenues from shares in controlled organizations and in accounting units 0 0 with subsantial influence VII.2 35 Revenues from others securities and ownership interests 0 0 VII.3 36 Revenues from other long-term financial assets 0 0 VIII. 37 Revenues from short-term financial assets 0 0 K. 38 Expenses associated with financial assets 0 0 IX. 39 Revenues from revaluation of securities and derivatives 0 0 L. 40 Cost of revaluation of securities and derivatives 0 0 M. 41 Change in financial reserves and adjustments ( + / - ) 0 0 X. 42 Interest revenues N. 43 Interest expenses XI. 44 Other financial revenues O. 45 Other financial expenses XII. 46 Transfer of financial revenues 0 0 P. 47 Transfer of financial expenses 0 0 * 48 "Profit / loss from financial operations ( transactions ) [Z (-46) - (-47)]" Q. 49 Income tax on ordinary income (ř ) Q.1 50 Due tax Q.2 51 Tax deferred ** 52 Operating profit / loss ordinary activity (ř ) XIII. 53 Extraordinery revenues 0 0 R. 54 Extraordinery expenses 0 0 S. 55 Income tax on extraordinery income (ř ) 0 0 S.1 56 Due tax 0 0 S.2 57 Tax deferred 0 0 * 58 Operating profit / loss extraordinary activity (ř ) 0 0 T. 59 Trasfer profit ( loss ) to partners (+/-) 0 0 *** 60 Profit / loss of current accounting period (+/-) (ř ) Profit / loss before tax (+/-) (ř )

10 Cash flow statement Row P. Balance of cash in hand and financial equivalents as at the beginning of the reporting period Cash flows from main activities (operating activities) Z. Profit/loss from running activities before taxation A. 1 Adjustments by non-cash operations A. 1 1 Depreciation of fixed assets and amortization of adjustments to acquired assets A. 1 2 Change in balance of adjustments and reserves A. 1 3 Profit (loss) on fixed assets -759 A. 1 4 Revenue from dividends and shares in profit A. 1 5 Accounted expense and revenue interest A. 1 6 Possible adjustments by other non-cash operations A. * Net cash flow from running activities before taxation, changes in working capital and unusual/extraordinary items A. 2 Change in non-cash items of working capital A. 2 1 Change in balance of receivables from running activities, temporary assets accounts A. 2 2 Change in balance of short-term payables from running activities, temporary liability accounts A. 2 3 Change in balance of inventory -916 A. 2 4 Change in balance of current liquid assets not included in cash or equivalents A. ** Net cash flow from running activities before taxation and unusual/extraordinary items A. 3 Interests paid exclusive of interest capitalization A. 4 Interests received A. 5 Income tax for running activities and additional tax assessments for previous periods A. 6 Income and expense on unusual and/or extraordinary items, including income tax A. 7 Received dividends and shares in profit A. *** Net cash flow from running activities Cash flows from investing activities B. 1 Expense on fixed assets acquisition B. 2 Income from fixed assets sales B. 3 Loans to related parties B. *** Net cash flow from investing activities Cash flows from financing activities C. 1 Impact of changes in long-term and short-term payables C. 2 Impact of changes in equity on cash on hand and financial equivalents C. 2 1 Increase in cash on hand as a result of increased registered capital, share premium etc. C. 2 2 Payment of share in equity to partners C. 2 3 Other contributions of cash by partners and shareholders C. 2 4 Coverage of loss by partners C. 2 5 Establishment or drawing of other funds 9 C. 2 6 Dividends paid or shares in profit, including taxes paid C. *** Net cash flow from financing activities F. Net increase/decrease of monetary funds R. Balance of cash in hand and financial equivalents as at the end of reporting period

11 Notes to Financial Statements 1. GENERAL DATA Accounting unit description Registration date in the Commercial Register: 01/01/1997 Trade name: IMOS Brno, a.s. Head office: Brno, Olomoucká 174, Identification number: Regional Commercial Court in Brno, section B, insert 2211 Main business activity: Performing constructions, including their modifications, maintenance work and removal Legal form: Joint stock company Shareholders whose stakes exceeds 20%: IMOS holding, a.s., company registration No Olomoucká 174, Brno Registered capital: 30,000,000 CZK Registered capital share: 100% More than 20 % share in the registered capital in other companies: IMOS Invest I, spol. s r.o., company registration No Olomoucká 704/174, Černovice, Brno Registered capital: 15,000,000 CZK Registered capital share: 100% IMOS Brno GmbH, HRB 5715 Heilig-Kreuz-Str. 2a, Ansbach Germany Registered capital: T EUR Registered capital share: 100% IMOS stavby, a.s. Olomoucká 704/174, Černovice, Brno Registered capital: thousand CZK Registered capital share: 100% CAMPUS RESIDENTIAL AREA II, a.s. Olomoucká 704/174, Černovice, Brno Registered capital: thousand CZK Registered capital share: 50% In 2004, the Company IMOS Brno, a.s. established an organizational branch with the head office in Slovakia: IMOS Brno, a.s. Organisational Branch of the Company Májová 1319, Čadca, SK Company registration No.: , VAT No.: SK Statutory bodies: Chairman of the Board of Directors: Ing. Robert Suchánek Tvaroženská 109, Jiříkovice Vice Chairman of the Board of Directors: David Platzer Metylovice 587 Vice Chairman of the Board of Directors: Ing. Pavel Sniegon Za Sokolovnou 1284/9b, Suchdol, Praha 6 Members of the Board of Directors: Ing. Milan Karásek Ing. Petr Švejnoha Za Humny 246, Rozdrojovice Na Bílém potoce 804, Veverská Bítýška Supervisory Board Chairman: Members: Ing. Jan Sniegon Ing. Jiří Rulíšek Ing. Ivan Sigmund Ing. Oldřich Štercl Lyžbická 1191, Lyžbice, Třinec Velká Morava 45, Dolní Morava Pod Skalkou 10, Nový Jičín Hájek 882/4, Klobouky u Brna Average number of employees during the accounting period: 685 of which managers: 14 Labour costs recapitulation (in T CZK): Employees Management of which Members of Executive Bodies Labour costs Health insurance and social security costs

12 Several of the executives of individual sections, divisions and departments are entitled to use company cars, which is, in compliance with Section 6 of Act No. 586/1992 Coll., as amended, considered as part of employee s income. The members of the statutory or any other supervisory bodies have not been granted any loan by the Company. 2. Information concerning the accounting procedures applied, general accounting principles and methods of valuation 2.1. The inventory is valued by the purchase price. Additional purchase costs of merchandise are concentrated in separate analytical accounts. These expenses are released to costs on a monthly basis proportionately to the amount of the material consumed. It is FIFO that has been applied as a mode of keeping stock records. Activated long-term tangible assets are valued on the level of real costs The procedure of replacement purchase price determination of assets is based on the arithmetic mean of prices taken from expert opinions usually carried out with the help of three different methods of replacement price determination. In this accounting period, no such assets have been acquired Other accessory acquisition costs represent customs duties, additional charges, intermediary fees, carriage charges, etc Tax effective adjusting items to receivables have been set up in accordance with the law, their total sum reaching T CZK. Furthermore, a non-tax adjusting item in the amount of T CZK has been created. See the Off Balance Sheet for further details Accounting depreciation and amortisation is carried out using an even depreciation method. The beginning of accounting write-offs takes place in the month following the filing. Individual accounting groups are depreciated as follows: Tax group 1 3 years Tax group 2 5 years Tax group 3 10 years Tax group 4 20 years Tax group 5 30 years Tax group 6 50 years The second and third tax groups are depreciated in an accelerated or even mode, depending on the assets type. The first, fourth, fifth and sixth tax groups are depreciated evenly. As far as the deposited assets are concerned, the original depreciation method has been used further on For the conversion of foreign currencies, a valid CNB rate is used on the date of performing the accounting operation. The record keeping of foreign invoices is performed on the day when the invoice was issued. The payment is considered to be the date when the sum was debited. 3. Additional information regarding the balance sheet and the profit and loss statement 3.1. Tangible and intangible fixed assets 3.1.a Long-term assets depreciated in the groups on 31 March 2014 Account 022 T CZK Account 082 T CZK Group 3 Group 4 Group 5 Group 6 Group 7 Machinery Appliances Equipment Means of transport Inventory Low-value long-term assets (acquisition costs less than 40,000 CZK) acquired before 2002 Total

13 Software Status as per 1 April 2014 Status as per 31 March 2015 Low-value long-term assets (acquisition costs less than 60,000 CZK) acquired before 2002 Total Account 013 T CZK Account 073 T CZK b Tangible long-term assets acquired through financial leasing The total amount of leasing instalments due: c Increments and decrements of fixed and intangible assets for the fiscal year 2014 (except for low-value fixed assets and low-value intangible assets) in T CZK Account Initial status Increment Decrement Final status 013/10 021/10 022/10 031/10 032/ Total d The sum of assets not included in the Balance Sheet Low-value assets kept in the operational records at the purchase price: T CZK 3.1.e Assets specification burdened with lien As per 31 March 2015, the Company does not have any assets burdened with lien Receivables 3.2.a Total overdue receivables: Up to 30 days: Up to 90 days: Over 90 days: T CZK T CZK T CZK T CZK 3.2.b 3.2.c 3.2.d Long-term receivables Long-term trade receivables included in the Balance Sheet are comprised of retention sums of payments based on contractual stipulations. The sum of receivables in the amount of T CZK from consortium members consists of the claims made upon the consortium members participating in those consortiums of which we are members, primarily in regard of the distribution of net income. The Company keeps in its books a deposit bill of exchange upon the UNION Bank. This bill of exchange has been claimed in bankruptcy proceedings. No adjusting item has been created to this bill of exchange. Collaterals and bills of exchange received and issued are recorded in the Off Balance Sheet Equity 3.3.a Company s equity as of 31 March T CZK 3.3.b The distribution of profit made in the previous accounting period The profit made in the accounting period 2013 in the amount of T CZK was carried forward to the account of retained earnings from previous years. The General Meeting decided about paying dividends out of the account of retained earnings from previous years in the total amount of T CZK. 3.3.c Registered capital The amount of the registered capital is 205 Mio CZK. The registered capital consists of 204 shares in the par value of CZK each and 2 shares in the par value of CZK each. 12

14 3.4. Trade Payables (in thousands CZK) 3.4.a Total overdue payables: Up to 30 days: Up to 90 days: Over 90 days: Of which dubious payables Other overdue payables of 380 T CZK were settled to the date of the financial statements. Negative values relating to credit notes are recorded under supplier invoices T CZK T CZK T CZK T CZK T CZK 3.4.b Out of which payables to the companies within the group: 0 CZK 3.4.c The Company does not have any payables covered by lien. 3.4.d The Company does not have any payables not shown in the bookkeeping as per 31 March e Long-term trade payables included in the Balance Sheet consist of retention sums of payments based on contractual stipulations Payables to employees Payables of wages/salaries in March Other payables to employees Total T CZK 246 T CZK T CZK 3.5. Provisions 3.5.a The company did not create any provision for the repairs of tangible fixed assets Company revenues divided according to main activities: Activity Amount in thousands CZK Transport Laboratories, research and development Mechanisation Repair shops Civil engineering Auxiliary civil engineering Roads and bridges Facility management Company management Water management structures Total The production includes revenues from the sales of the Company s products and services, revenues from the sales of its assets and materials, other operating revenues, and the revenues from the Company s financial activities. 4. Estimated receivables The sum of the estimated items in the amount of T CZK consists of estimated items based on so far non-disclosed insurance claims and unbilled services. 5. Estimated payables The sum of the estimated items in the amount of T CZK consists of estimated items based on unbilled supplies provided by subcontractors. 13

15 6. Receivables from and payables to the state State tax obligations and subsidies Employment tax Income tax Total T CZK T CZK T CZK State tax receivables and subsidies VAT Road tax Total T CZK 43 T CZK T CZK The calculation of the deferred tax liability consists of the difference between the tax and net book value, and it amounts to T CZK. A report entitled Report on the relations between related parties as per 31 March 2015 has been prepared. The report is kept on file in the Company s head office. No significant or substantial change occurred before the preparation of the financial statement. 14

16

17

18 IMOS Brno, a. s. Olomoucká 704/174 Černovice, Brno tel.: fax: imosbrno.eu