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letno poročilo 2003
annual report 2003
letno poročilo 2003
annual report 2003
kazalo
table of contents
Pomembnejši podatki o Relevant information regarding Human Resources Management
10 Upravljanje s kadri 67
poslovanju v letu 2003 performance in 2003 6 10.1 Rast in struktura obsega zaposlenih Increase in and structure of human resources 67
Poročilo predsednika uprave Report of the Chairman of the 7 10.2 Nagrajevanje in napredovanje kadrov Bonuses and promotion 70
Management Board 10.3 Prostovoljno dodatno pokojninsko zavarovanje Additional voluntary pension insurance 70
10.4 Varstvo pri delu – skrb za zdravje zaposlenih Safety at work - caring for our employees' health 71
Poročilo nadzornega sveta Report of the Supervisory Board 13 Employee safety
10.5 Varnost zaposlenih 73
Pomembnejši dogodki v letu 2003 Important events in 2003 17 10.6 Sodelovanje s sindikati Cooperating with trade unions 73
11 Komunikacije Communication 74
Poslovno poročilo Business review 23
1 Predstavitev družbe in Presentation of Istrabenz and of the Računovodsko poročilo Financial Rewiew 77
Skupine Istrabenz Istrabenz Group 24
Računovodsko poročilo holdinške Financial Report of the Istrabenz Holding
2 Mejniki v zgodovini družbe Milestones in Company's history 25 družbe Istrabenz, d.d. Company plc 77
3 Poslanstvo družbe in The mission of the Istrabenz Group 1. Finančni izkazi holdinške Financial Statements of the Istrabenz
Skupine Istrabenz 26 družbe Istrabenz, d.d. Holding Company 78
2 2. Revidirani računovodski izkazi Audited Financial Statement 80 3
4 Vizija družbe in Skupine Istrabenz The vision of the Istrabenz Group 26 2.1 Bilanca stanja Balance sheet 80
2.2 Izkaz poslovnega izida Income statement 81
5 Vrednote družbe in The values of the Istrabenz Group 2.3 Izkaz finančnega izida Cash flow statement 82
Skupine Istrabenz 27 2.4 Izkaz gibanja kapitala Statement of changes in equity 84
2.5 Mnenje pooblaščenega revizorja Certified Auditor's Report 88
6 Strateški cilji družbe in The strategic goals of the Istrabenz Group
Skupine Istrabenz 27 3 Priloge s pojasnili Appendixes with notes 90
3.1 Računovodske usmeritve Accounting policies 90
3.2 Dodatna razkritja postavk v bilanci stanja Additional disclosures of items in the balance sheet 94
7 Lastniška struktura, delnice Ownership structure, shares and 3.3 Dodatna razkritja postavk v izkazu poslovnega izida Additional disclosures of items in the income statement 111
in dividende dividends 28 3.4 Seznam razkritij List of disclosures 120
7.1 Dividendna politika Dividend policy 30
7.2 Istrabenzova delnica na organiziranem trgu Shares of the Istrabenz Holding Company in 30 Konsolidirano računovodsko poročilo Consolideted Financial Rewiew
the organised market
- Skupina Istrabenz - Istrabenz Group 121
7.3 Lastne delnice Own shares 33
7.4 Pooblastila uprave Management Board's powers 33
1 Uvod Introduction 122
1.1 Finančni izkazi Financial statements 123
8 Poročilo o upravljanju družbe Report on the management of the
in Skupine Istrabenz Company and of the Istrabenz Group 34 2. Poslovanje Skupine Istrabenz Performance of the Istrabenz Group 126
2.1 Računovodski izkazi Financial statements 126
9 Poslovanje holdinške družbe Performance of the Istrabenz Holding 2.2 Mnenje pooblaščenega revizorja Certified Auditor's Report 134
Istrabenz, d. d., v letu 2003 Company in 2003 38 2.3 Računovodske usmeritve z dodatnimi razkritji postavk Accounting policies with additional disclosures of items in the financial
9.1 Analiza poslovanja holdinške družbe Istrabenz, d.d. Analysis of the performance of the Istrabenz holding company 38 računovodskih izkazov statements 136
9.2 Energetika Energy 48 2.4 Izločanja (konsolidiranja) Eliminations (consolidations) 140
9.3 Turizem Tourism 58 2.5 Kazalniki poslovanja Activity ratios 141
9.4 Informacijske tehnologije Information technologies 65 2.6 Dogodki po datumu bilance stanja Events after the balance-sheet date 143
Z odzivanjem na naložbene
priložnosti uresničujemo
razvojne usmeritve in
povečujemo vrednost
premoženja.
By reacting to investment
opportunities, we are
implementing development
guidelines and increasing the
value of assets
4
prepoznavamo
vrednost
we recognise value
P omembnejši podatki
o poslovanju v
letu 2003
R elevant information
regarding
performance in 2003
P oročilo
predsednika uprave
Istrabenz, d.d.
R eport of the
Chairman of the
Management Board
report of the Chairman of the Management Board
POSTAVKA / ITEM ENOTA ISTRABENZ, d.d. SKUPINA ISTRABENZ
Spoštovani delničarji in poslovni Respectable shareholders, esteemed
UNIT ISTRABENZ plc ISTRABENZ GROUP partnerji! business partners,
Prihodki / Revenues v mio SIT / in millions of SIT 6.652 30.008 Skupina Istrabenz je v leto 2003 vstopila s prenovljenimi smernicami The Istrabenz Group started 2003 with renovated Strategic
Dobiček/izguba / Profit/loss v mio SIT / in millions of SIT 2.366 2.911 strateškega razvoja. Njihovo sprejetje je tik pred začetkom leta Development Guidelines. Their adoption before the year's end, started
sprožilo proces preobrazbe, ki je obvladoval celoletno dogajanje a transformation process that governed the events and positioned
Lastniški kapital / Equity v mio SIT / in millions of SIT 31.074 47.493
in je torišče delovanja poslovne skupine iz naftne ter plinske dejavnosti the focus of the Group's operations in the oil and gas business and
Sredstva / Assets v mio SIT / in millions of SIT 59.808 90.324 in finančnih naložb umestil v strateško trojico – energetika, turizem in financial investments in the strategic triad of energy, tourism and
Donos na kapital / Return on equity v % / in % 8,16 7,94 in naložbe. investments.
Knjigovodska vrednost delnice / Book value of a share v SIT / in SIT 5.998,82 6.189,10
Čisti dobiček na delnico / Earnings per share v SIT / in SIT 450,99 562,01 Spremenjeno obravnavanje naložbe v trgovini z A changed considerations of investment in trade in
naftnimi derivati. petroleum products.
Dejavnosti holdinške družbe Istrabenz, d.d., so potekale v znamenju The activities of the Istrabenz Holding Company were characterised
širitve poslovne skupine in prizadevanj za izboljšanje poslovanja by the expansion of the business group and the efforts to improve
v trgovini z naftnimi derivati. V preteklem obdobju so prav razmere the performance of trade in petroleum products. In the past, the
6 v tej dejavnosti bistveno opredeljevale poslovanje holdinške družbe circumstances in the latter activity considerably affected the 7
Istrabenz, d.d., in poslovne skupine ter spodbudile širitev področij performance of both the Istrabenz Holding Company and of the
delovanja Skupine Istrabenz in hkrati intenzivnejše aktivnosti pri entire Group, stimulating the Istrabenz Group’s expansion to other
doseganju učinkov iz finančnih naložb. business areas and undertaking more intense activities in order to
achieve results from financial investments.
Naftne družbe so bile v zadnjem razvojnem obdobju ujete v okvire,
poročilo predsednika uprave Istrabenz, d.d.
ki jih narekujejo regulativni državni modeli na obeh primarnih trgih, During the latest development period, oil companies were limited by
v Sloveniji in na Hrvaškem. V tej dejavnosti, katere nosilka je Skupina constraints imposed by state-regulated price models in both primary
OMV Istrabenz, se je holdinška družba Istrabenz, d.d., v daljšem markets: Slovenia and Croatia. In this activity, which is organised within
obdobju soočala z upadom nekdanje uspešnosti in negativnimi the OMV Istrabenz Group, the Istrabenz Holding Company was for
rezultati. Kljub temu je premoženje svojih delničarjev v preteklih letih some time faced with poor performance and negative results. However,
ne le ubranila, temveč tudi povečevala in hkrati vzdrževala stabilno the Holding Company managed to not only protect the assets of its
dividendno politiko, kar je dosegla z razpršitvijo svojih naložb in shareholders, but even to increase it, them, white maintaining a stable
zelo ugodnimi učinki iz finančnega poslovanja. dividend policy by spreading its investments and relying on the very
good effects of financial operations.
V letu 2003 je uprava holdinške družbe Istrabenz, d.d., zaradi
razmer v trgovini z naftnimi derivati velik del aktivnosti namenila Given of the circumstances of trade in oil products in 2003, the
usklajevanju stališč s strateškim partnerjem, družbo OMV AG o Management Board of the Istrabenz Holding Company devoted a
prihodnjem razvoju te dejavnosti in izboljšanju njene donosnosti. great deal of effort to find common standpoints with its strategic
Uprava je v marcu 2004 zaradi zmanjšanja tveganj, različnih partner OMV AG in terms of the future development of the activity
pogledov obeh strani na prihodnji razvoj dejavnosti in lastniške and measures to improve its profitability. In March 2004, the
strukture ter zaradi intenzivnih globalizacijskih tokov v panogi in v Management Board adopted a resolution to consider the investment
regiji sprejela sklep, da naložbo v trgovini z naftnimi derivati vodi in the oil trade as an associated company and not to consolidate it
kot pridruženo podjetje in je ne konsolidira. Po pooblastilu in order to reduce risks. This was because the two partners had
nadzornega sveta pa je letos začela pogajanja o njeni odprodaji. different views about the development of the ownership structure and
because of intense globalisation trends sun in the industry in the
Odločitev o odprodaji naložbe v trgovini z naftnimi derivati region. The Supervisory Board authorised the Management Board
strateškemu partnerju je bila s strani uprave dolgo tehtana, predvsem to start the negotiations on the disposal of the investment.
pa je sledila neuspešnim prizadevanjem, da bi s strateškim partnerjem
dosegli dogovor. Zanjo smo se odločili, da For a long time, the Management Board had been pondering the
decision to sell the invesment in petroleum product trade to its
bi zavarovali interese vseh delničarjev in odprli možnosti za hitrejši strategic partner, before opting for such decision following unsuccessful
razvoj skupine na vseh strateških področjih. Pri tem ostaja prihodnja efforts to reach an agreement with that partner. The disposal was
razvojna strategija holdinške družbe Istrabenz, d.d., nespre- decided in order to protect the interests of all the shareholders and
menjena, strateške naložbe pa usmerjene v temeljne dejavnosti, to grasp new opportunities for the Group’s faster growth. However,
med katerimi ohranja energetika pomembno vlogo. the development strategy of the Istrabenz Holding Company however
remains unchanged - the strategic investments will be focusing on
Posebnosti poročanja v letnem poročilu. Ker smo skozi vse
report of the Chairman of the Management Board
report of the Chairman of the Management Board
the Company's core activities within which energy continues to play
leto družbe v Skupini OMV Istrabenz organizacijsko vključevali an important role.
v Skupino Istrabenz in v možnem obsegu aktivno sodelovali pri
razvoju poslovnih procesov, v Letnem poročilu povzemamo Peculiarities of the reporting found in the Annual Report. Since
nekatere značilnosti njenega poslovanja, v poročanje vključujemo the companies of the OMV Istrabenz Group have been included in
upravljanje s kadrovskimi viri in vidike trajnostnega razvoja. V the organisation of the Istrabenz Group throughout the year and
računovodskem delu obravnavamo naložbo v naftno dejavnost because we actively participated to the largest extent possible in the
kot skupni podvig (joint venture) in se v letu 2003 ne vključuje v development of operating procedures, we have included some of
računovodske izkaze Skupine Istrabenz po metodi popolne the performance indicators of the OMV Istrabenz Group, alongside
konsolidacije, temveč po kapitalski metodi. human-resources management and aspects of sustainable
development. The investment in petroleum activity is disclosed in the
Utrjevanje v osnovnih dejavnostih in vstop v Evropsko unijo. Financial Review as a joint-venture and will not be included in the
V prenovljeni razvojni strategiji smo se izrekli za širše delovanje financial statements of the Istrabenz Group using complete
na področju energetike in za potrjevanje strateških dejavnosti v consolidation, but with the equity capital method. 11
tržnih pogojih. Ob tem smo se iz dosedanje obrobne navzočnosti
učvrstili tudi v turizmu in naložbah. V vseh treh dejavnostih smo Stabilising core activities on the verge of accession to the
v preteklem letu napredovali pri internacionalizaciji poslovanja. European Union. In our updated development strategy, we committed
Krepitev naših konkurenčnih prednosti v teh divizijah pomeni ourselves to wider action in the area of energy and to the strengthening
učvrstitev tržnega položaja na evropskem trgu, zato o vidikih of strategic activities in the given market conditions. In addition, we
vstopa Slovenije v Evropsko unijo v tem poročilu ne razmišljamo boosted our commitment to the tourism and investments divisions. In
in poročamo ločeno. Nanj smo se na področju tehnoloških the last year we internationalised our operations in all the three basic
standardov temeljito pripravili, na trgu tako energetike kot naložb activities. Since the reinforcement of our competitive advantages in
ter seveda turizma pa se z mednarodnimi tekmeci srečujemo že these divisions signals the strengthening of our position in the European
vrsto let. Ocenjujemo, da bo vstop v EU zaostril pogoje v market, aspects of Slovenia's accession to the European Union are
8 tradicionalnih energetskih dejavnostih (naftni, plinski) in odprl not treated separately in this Report. We thoroughly prepared for 9
veliko priložnosti predvsem v turizmu in trajnostni oskrbi z energenti. the Union’s enlargement in the areas of industrial standards in both
energy and investments, markets while in the tourism business we
Procesi preobrazbe in osredotočanja. V letu dni je ofenzivna have been used to facing international competition for several years.
širitev Skupine s prevzemi in z ustanavljanjem novih družb občutno We expect accession to the European Union to make the conditions
okrepila vse tri stebre dejavnosti.
poročilo predsednika uprave Istrabenz, d.d.
poročilo predsednika uprave Istrabenz, d.d.
in traditional energy activities (petroleum and gas) tougher, while
offering many new opportunities in tourism and the sustainable supply
Skupina je v teku leta pridobila osem novih družb. Toda preobrazba
of energy sources.
temeljne dejavnosti v primeru Skupine Istrabenz pomeni več kot
kapitalski prodor na področja, ki so bila v preteklem razvojnem Reorganisation and focusing processes. In one year, the aggressive
obdobju nakazana kot možnosti. Predpostavlja in narekuje vrsto expansion of the Group greatly strengthened all three activity pillars
sprememb, zlasti na ključnih poljih – v upravljanju in razvoju. through takeovers and the establishment of new companies.
Sočasno in komplementarno s širitvijo treh dejavnosti je zato stekla
krepitev razvojnih sposobnosti v odvisnih družbah, ki so nosilke Eight new companies joined the Group in a single year. Reorganisation
razvoja posameznih dejavnosti. Spremembe doživlja tudi holdinška of the core activities of the Istrabenz Group means however, more
družba Istrabenz, d.d., kjer se prav tako osredotočamo na svojo than just a capital penetration to areas indicated in the past as mere
temeljno dejavnost, upravljanje naložb v Skupini in zunaj nje. S opportunities. Such a shift implies and demands a series of changes,
tem pa sočasno opuščamo nekatere operativne funkcije, ki smo especially in the key areas of management and development. Along
jih doslej opravljali za članice Skupine. Te funkcije prehajajo with the expansion of the three activities, we started to complement
neposredno k odvisnim družbam, kajti njihovo obvladovanje je the development potential of those subsidiaries leading the advancement
pogoj za suveren razvoj poslovanja. of individual activities. The Istrabenz Holding Company is also
undergoing a change since we are refocusing on our main activity of
Odvisne družbe v strateških dejavnostih ostajajo tako kapitalsko managing the investments within and outside the Group. At the same
odvisne od holdinške družbe Istrabenz, d.d., pridobivajo pa time, we are abandoning certain operating functions we performed
sposobnost generiranja lastnega razvoja, ki je ključni dejavnik in the past for the Group members. Such functions are being transferred
njihove konkurenčnosti. V letu 2003 sta tako zelo uspešno poslovali to the subsidiaries because mastering them is a precondition for
plinska dejavnost in skladiščenje naftnih derivatov, nekoliko nižje independent progress of business.
od predvidevanj pa so segli rezultati turističnih družb.
Preglednost upravljanja. S povečano razvojno usmerjenostjo sta Thus, the subsidiaries remain subordinated to the Istrabenz Holding način delovanja. Povsem dobesedno pa ga uresničujemo na področju about progress, when it benefits the entire community. This will be
povezana vpeljava integriranega sistema načrtovanja v celotno Company through equity while gaining the potential to generate trajnostne oskrbe z energijo. the case of our destinations in Slovenia (Portorož and Postojna) and
Skupino ter opredelitev enotnih meril in sistema spremljanja osnovnih their own development, which is the key factor of their competitiveness. in the Kvarner in Croatia (Opatija). At the same time, we want to
področij poslovanja. Tudi na področju upravljanja s strateškimi kadri Consequently, the gas activity and the storage of petroleum products Krepimo potencial naložbene strukture. V izidu poslovnega extend the positive effects to the national scale. Our way of operating
je zaživel sistem vodenja s cilji. Poteza, ki opredeljuje preteklo leto, operated with much success, while the results of tourist companies leta 2003 je doseženi čisti dobiček holdinške družbe Istrabenz, in the tourism industry, based on the cooperation with local communities
obenem pa omogoča razumevanje prihodnjega dogajanja, so were slightly below the expectations. d.d. V prihodkih se je povečala vloga prihodkov iz dobička odvisnih and on the partnership with other players in the Slovenian tourism
družb, kar je želena smer, o kateri bomo skupaj z vodstvi odvisnih
report of the Chairman of the Management Board


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