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Na letališču smo v letu 2006 pozdravili 1.334.355 potnikov. Vsako leto več. In 2006 the airport welcomed 1,334,355 passengers. Their number increases every year.

Revidirano poročilo o poslovanju 2006Audited Annual Report 2006

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Vsebina / Content

I. UVOD INTRODUCTION

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1. POUDARKI IZ POSLOVANJA HIGHLIGHTS OF OPERATIONS

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2. PREGLED POMEMBNEJŠIH DOGODKOV SIGNIFICANT EVENTS

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2.1 Pomembnejši dogodki v letu 2006 Important events in 2006 9

2.2 Pomembnejši dogodki po koncu obračunskega obdobja Significant events after the end of the accounting period

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3. OSEBNA IZKAZNICA COMPANY PROFILE

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3.1 Osnovni podatki družbe Basic information about the company 10

3.2 Dejavnost Lines of business 11

3.3 Organiziranost Organisation 12

3.4 Poslanstvo, vizija Mission and vision 12

4. POROČILO PREDSEDNIKA UPRAVE REPORT FROM THE PRESIDENT OF THE MANAGEMENT BOARD

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5. POROČILO NADZORNEGA SVETA STATEMENT BY THE SUPERVISORY BOARD

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6. UPRAVLJANJE DRUŽBE CORPORATE GOVERNANCE

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6.1 Dvotirni sistem upravljanja družbe Two-tier corporate governance system 20

6.2 Skupščina delničarjev The General Meeting 20

6.3 Nadzorni svet družbe Supervisory Board 20

6.4 Uprava družbe Management Board 21

6.5 Obveščanje javnosti Communicating with the public 21

6.6 Izjava o skladnosti upravljanja družbe Aerodrom Ljubljana, d.d., s Kodeksom upravljanja javnih delniških družb Aerodrom Ljubljana's Statement of Compliance with the Corporate Governance Code

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6.7 Finančni koledar Financial calendar 23

7. KOMUNICIRANJE Z JAVNOSTMI PUBLIC RELATIONS

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8. UPRAVLJANJE S TVEGANJI RISK MANAGEMENT

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8.1 Finančna tveganja Financial Risk 28

8.2 Poslovna tveganja Business Risk 30

9. STRATEŠKE USMERITVE STRATEGIC PLANS

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10. NAČRTI ZA LETO 2007 PLANS FOR 2007

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II. POSLOVNO POROČILO BUSINESS REPORT 38

1. SPLOŠNE GOSPODARSKE RAZMERE GENERAL ECONOMIC CONDITIONS 38

2. TRŽENJE IN TRŽNI POLOŽAJ DRUŽBE MARKETING AND MARKET POSITION OF THE COMPANY

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3. PROMET VOLUME OF TRAFFIC

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4. ANALIZA POSLOVANJA ANALYSIS OF BUSINESS OPERATIONS

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4.1 Poslovni izid Operating result 45

4.2 Premoženjsko stanje Financial standing 48

4.3 Kazalniki poslovanja Performance indicators 48

5. INVESTICIJSKA DEJAVNOST INVESTMENTS

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6. DELNICA AELG IN LASTNIŠKA STRUKTURA AELG SHARE AND OWNERSHIP STRUCTURE 53

7. ZAPOSLENI EMPLOYEES

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III. TRAJNOSTNO POROČILO SUSTAINABILITY REPORT

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1. VAROVANJE OKOLJA ENVIRONMENTAL PROTECTION 64

2. VARNOST CIVILNEGA LETALSTVA CIVIL AVIATION SECURITY 68

3. NADZOROVANJE KAKOVOSTI DELA QUALITY ASSURANCE 70

4. SODELOVANJE Z OKOLJEM PART OF THE COMMUNITY 71

IV. RAČUNOVODSKO POROČILO FINANCIAL REPORT

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1. IZJAVA POSLOVODSTVA MANAGEMENT DECLARATION

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2. REVIZORJEVO POROČILO AUDITOR'S REPORT

7576

3. RAČUNOVODSKI IZKAZI, IZDELANI PO MSRP IFRS COMPLIANT FINANCIAL STATEMENTS

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3.1 Bilanca stanja na dan 31. 12. 2006 Balance sheet on 31 December 2006

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3.2 Izkaz poslovnega izida za leto 2006 2006 Income Statement 79

3.3 Izkaz denarnih tokov od 1. 1. do 31. 12. 2006 Cash Flow Statement for 1 January to 31 December 2006

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3.4 Izkaz gibanja kapitala Statement of Changes in Equity 82

4. POMEMBNEJŠE RAČUNOVODSKE USMERITVE SIGNIFICANT ACCOUNTING POLICIES

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4.1 Poročajoča družba Reporting company

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4.2 Podlaga za sestavitev Basis for compilation 84

4.3 Pomembne računovodske usmeritve Significant accounting policies 85

5. POJASNILA K RAČUNOVODSKIM IZKAZOM NOTES TO THE FINANCIAL STATEMENTS

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5.1 Pojasnila in razkritja k bilanci stanja Notes and disclosures to the balance sheet

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5.2 Pojasnila in razkritja k izkazu poslovnega izida Notes and disclosures to the income statement

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6. PREHOD NA MEDNARODNE STANDARDE RAČUNOVODSKEGA POROČANJA (MSRP) TRANSITION TO INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)

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Postajamo pomembno evropsko križišče transportnih poti. Tovorni promet je porasel za 32 %.We are becoming an important European crossroads of transport routes. Freight transport rose by 32%.

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2006 2005 Indeks/Index 06/05

Število potnikov Number of passengers

1.334.355 1.218.896 110

Premiki letal Aircraft movements

40.991 37.767 109

Tovor (v tonah) Cargo (in tonnes)

15.309 11.561 132

Poslovni prihodki - v milijonih tolarjev/evrov Operating revenues - SIT/EUR millions

6.870 / 28,7 6.302 / 26,3 109

Poslovni odhodki - v milijonih tolarjev/evrov Operating expenses - SIT/EUR millions

4.508 / 18,8 4.384 / 18,3 103

Poslovni izid iz poslovanja (EBIT) - v milijonih tolarjev/evrov Operating profit (EBIT) - SIT/EUR millions

2.362 / 9,9 1.917 / 8,0 123

Poslovni izid pred obdavčitvijo - v milijonih tolarjev/evrov Pre-tax profit - SIT/EUR millions

2.792 / 11,7 2.401 / 10,0 116

Čisti poslovni izid obračunskega obdobja - v milijonih tolarjev/evrovNet profit for accounting period - SIT/EUR millions

2.109 / 8,8 1.921 / 8,0 110

Kapital 31. 12. - v milijonih tolarjev/evrov Equity capital as at 31 December - SIT/EUR millions

23.286 / 97,2 21.865 / 91,2 107

Investicije - v milijonih tolarjev/evrovInvestment - SIT/EUR millions

2.618 / 10,9 2.431 / 10,1 108

Število zaposlenih 31. 12.Number of employees as at 31 December

372 332 112

Čisti poslovni izid na delnico - v tolarjih*Net profit per share - in SIT*

556 / 2,3 506 / 2,1 110

Knjigovodska vrednost delnice - v tolarjihBook value per share - in SIT

6.134 / 25,6 5.759 / 24,0 107

Koeficient gospodarnosti poslovanja**Operating efficiency ratio**

1,524 1,437 106

Koeficient čiste dobičkonosnosti kapitala***Net return on equity ratio***

0,098 0,095 103

Dodana vrednost na zaposlenega - v tisoč tolarjih****Value-added per employee - SIT thousands****

16.244 / 67,8 15.689 / 65,5 104

1. POUDARKI IZ POSLOVANJA HIGHLIGHTS OF OPERATIONS

I. Uvod / Introduction

* Pri izračunu so upoštevane vse delnice** Poslovni prihodki/poslovni odhodki*** Čisti poslovni izid/povprečni kapital (brez čistega poslovnega izida proučevanega obdobja)**** Pri izračunu je upoštevano povprečno število zaposlenih na osnovi opravljenih ur (leto 2006 = 338, leto 2005 = 323)

* All share used in calculation

** Net profit / average equity capital (excluding net profit for the accounting period)

*** The average number of employees on the basis of hours worked was used in the calculation (2006 = 338, 2005 = 323) **** The average number of employees on the basis of hours worked was used in the calculation (2006 = 338, 2005 = 323)

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2.1 Pomembnejši dogodki v letu 2006

> Sredi januarja se je ponudba letalskih prevoznikov in letalskih povezav z Brnika povečala še za enega rednega prevoznika, turško letalsko družbo Turkish Airlines, ki petkrat na teden redno leti med Ljubljano in Istanbulom.

> S prvim majem je z Brnika v London (Luton) in Bruselj (Charleroi) začel leteti največji srednje- in vzhodnoevropski nizkostroškovni letalski prevoznik Wizz Air.

> Prav tako je v maju slovenski letalski prevoznik Adria Airways odprl tri nove redne linije iz Brnika v Rim, Barcelono in Tirano.

> Maja je bila podpisana pogodba z družbo DHL Ekspres o izgradnji in dolgoročnem najemu objekta, kjer bo najemnik opravljal svoje operativne procese v Sloveniji. To bo tudi prvi objekt nove poslovno-logistične cone na letališču.

> Konec maja so stekla dela za razširitev letališke ploščadi, ki smo jo povečali za približno 5.800 kvadratnih metrov.

> 18. julija je bila sklenjena pogodba med Aerodromom Ljubljana in podjetjem SCT za izgradnjo prve faze novega potniškega terminala T2 in obnovo obstoječega.

> Sredi oktobra smo odpovedali pogodbo sedanjemu izvajalcu gostinske dejavnosti in cateringa.

> Sredi oktobra je bila na letališču osrednja državna vaja s področja zaščite in reševanja Letalska nesreča 2006.

> Od 6. novembra tudi na Aerodromu Ljubljana veljajo novi varnostni ukrepi pri vnosu ročne prtljage na letalo.

> Konec novembra je UPS ob širitvi svoje poslovne mreže vzpostavil dnevno tovorno letalsko povezavo med Brnikom in Kölnom. Letališče Ljubljana tako postaja vozlišče za letalski tovorni pomet v tem delu Evrope.

> Konzorcij SPOT, med ustanovitelji katerega je tudi Aerodrom Ljubljana, je letos prejel sejalca 2006 v kategoriji Tržno komuniciranje v turizmu, nagrado za inovativne dosežke v turizmu, ki prispevajo k večji prepoznavnosti in obiskanosti Slovenije.

> Konec decembra smo na letališču pozdravili novega čarterskega prevoznika, angleškega turističnega velikana First Choice.

2.2 Pomembnejši dogodki po koncu obračunskega obdobja

> 10. januarja je bila sklicana izredna seja skupščine, ki je potrdila sklep o spremembi v nadzornem svetu družbe. Janeza Potočnika je zamenjal mag. Franc Željko Županič, generalni direktor Direktorata za civilno letalstvo na Ministr- stvu za promet. > Zadnje dni januarja je nizkostroškovni letalski prevoznik Wizz Air najavil, da s 1. marcem 2007 ukinja letalsko povezavo med Ljubljano in letališčem London Luton v Veliki Britaniji. > Aerodrom Ljubljana je kot ena izmed treh slovenskih družb z najboljšo bonitetno oceno prejel nagrado rating leta. > 15. februarja je na svoji 14. seji nadzorni svet imenoval novega, tretjega člana uprave, mag. Janeza Kolarja.

2. PREGLED POMEMBNEJŠIH DOGODKOV SIGNIFICANT EVENTS

2.1 Significant events in 2006

> In mid-January, the range of carriers and connections from Brnik was enhanced by an additional scheduled carrier - Turkish Airlines, offering five scheduled flights between Ljubljana and Istanbul every week.

> On 1 May, Central and Eastern Europe's largest low-cost airline, Wizz Air, began service from Brnik to London (Luton) and Brussels (Charleroi).

> In May, the Slovenian airline Adria Airways launched three new scheduled services from Brnik, flying to Rome, Barcelona and Tirana.

> In May, a contract was signed with DHL Express on the construction and long-term lease of the facility where DHL will carry out its operations in Slovenia. At the same time this will be the first building in the new business and logistics zone at the airport.

> At the end of May, work started on the airport apron, which was extended by about 5,800 square metres.

> On 18 July, a contract was signed between Aerodrom Ljubljana and SCT for the construction of the first phase of the new T2 passenger terminal and the reconstruction of the existing one.

> In mid-October, the central national protection and rescue exercise ("Aviation Accident 2006") was held at the airport.

> As of 6 November, new security measures are in force at Aerodrom Ljubljana for taking hand luggage on board.

> At the end of November, UPS established a daily air freight connection between Brnik and Cologne as part of its business network expansion. Ljubljana Airport is thus becoming an air freight hub in this part of Europe.

> This year, the SPOT consortium, whose founders among others included Aerodrom Ljubljana, received the "Sejalec 2006" (Sow- er) award in the category of Marketing Communication in Tourism, a recognition for innovative achievements in tourism contributing to the greater exposure and number of people visiting Slovenia.

> At the end of December, our airport greeted a new charter airline - the British tourism giant First Choice. There had been no foreign tourist charters in Slovenia for over 15 years.

2.2 Significant events after the end of the accounting period

> On 10 January, an extraordinary session of the general meeting was convened which endorsed the resolution on the change to the supervisory board. Janez Potočnik was replaced by Franc Željko Županič, MSc, the director-general of the Civil Aviation Directorate at the Ministry of Transport.> At the end of January, the low-cost airline Wizz Air announced that the air connection between Ljubljana and London's Luton Airport in Great Britain would be terminated on 1 March 2007. > Aerodrom Ljubljana is one of three Slovenian companies with the highest credit rating to receive the Rating of the Year award. > On 15 February, at its 14th meeting, the supervisory board appointed its new, third member, Janez Kolar, MA.

Revidirano letno poročilo 2006Audited Annual Report 2006

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3.1 Osnovni podatki družbe Basic information

Predstavitev družbe About the company Ime in sedež: Aerodrom Ljubljana, d.d., Address: Zg. Brnik 130a, 4210 Brnik-aerodrom

Pravna oblika: delniška družba Legal form: public limited company Država: Slovenija Country: Slovenia

Drugi podatki Other information

Matična številka: 5142768 Registration number: Davčna številka: SI 12574856 Tax number: Šifra dejavnosti: 63.230 - Druge pomožne dejavnosti Activity code: v zračnem prometu 63.230 - other auxiliary services in air transportation

Velikost: velika družba po Zakonu o gospodarskih Size: družbah (ZGD-1) a large company according to Economic companies act

Transakcijska računa: - Nova Ljubljanska banka, d.d. Transaction account: 02921-0014174945 - Banka Koper, d.d. 10100-0029177110

Poslovno leto: koledarsko Business year: follows calendar year Podatki o zaposlenih Employee information

Na dan 31. 12. 2006 je bilo v družbi 372 zaposlenih. The Company had 372 employees on 31 December 2006.

3. OSEBNA IZKAZNICA COMPANY PROFILE

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3.2 Dejavnost

Naše osnovne dejavnosti obsegajo:

> upravljanje letališča z zagotavljanjem pristankov in vzletov letal, uporabo infrastrukture in potniškega terminala;

> zemeljsko oskrbo letal, potnikov in tovora;

> trženje potniškega in tovornega prometa;

> razne komercialne dejavnosti, kot so zagotavljanje ustrezne trgovinske, gostinske in druge ponudbe ter parkiranje osebnih vozil potnikov in obiskovalcev letališča, oddajanje poslovnih in oglasnih prostorov v najem in izvajanje skladiščno-logističnih storitev.

v tisoč tolarjih SIT thousands

Družba Company

Naslov Address

Delež % Interest %

Vrednost naložbe Value of the investment

31. 12. 2005 31. 12. 2006

Aerodrom Portorož, d.o.o.* Sečovlje 19, Sečovlje 30,46 % 300.000 300.000

Feniksšped, d.o.o., Brnik** Zg. Brnik130e, Brnik-aerodrom 51,00 % 12.750 12.750

Podatki o družbah, katerih večji lastnik je družba Aerodrom LjubljanaData on companies under the majority ownership of Aerodrom Ljubljana

* Investment recorded as investment in associated

company (see Note to the financial statements No 5.1.3).

** Investment in Feniksšped d.o.o. recorded as for the sale

of available financial resources - shares and participat

ing interests (see Note to financial statements 5.1.4).

Investments in Feniksšped d.o.o. and the associated company Aerodrom Portorož d.o.o. are not consolidated as there is no basis to do so given the relatively low nominal value of invest-ments and the volume of transactions.

3.2 Activities of the company

Our basic lines of business comprise:

> airport management, including aircraft take-offs and landings and the use of infrastructure and the passenger terminal; ground operations for aircraft, passengers and cargo;

> ground operations for aircraft, passengers and cargo;

> marketing of passenger and cargo transport;

> other commercial activities such as relevant retail, catering and other services, car parking for passengers and airport visitors, leasing of commercial and advertising space, warehousing and logistical services.

* Naložba je evidentirana kot naložba v pridruženo družbo (glej pojasnila k računovodskim izkazom št. 5.1.3).** Naložba v družbo Feniksšped, d.o.o., je evidentirana kot za prodajo razpoložljiva finančna sredstva - delnice in deleži (glej pojasnila k računovodskim izkazom št. 5.1.4

Naložb v družbo Feniksšped, d.o.o., in pridruženo družbo Aerodrom Portorož, d.o.o., zaradi relativno nizke nominalne vrednosti naložb in obsega poslovanja ne uskupinjujemo, ker ni osnove za to.


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3.4 Poslanstvo in vizija

PoslanstvoUporabnikom letališča zagotavljamo varno, točno in visoko kakovostno izvajanje letaliških in drugih komercialnih storitev. Hkrati skrbimo za razvoj letališča v skla-du z zahtevami prevoznikov, potnikov, vrsto prometa in zahtevami Evropske unije.

VizijaV prihodnjem desetletju želimo s širitvijo infrastrukture in večanja prometa tudi zunaj Evrope postati vodilni ponudnik letalskih povezav in storitev v naši regiji za potniški in blagovni promet.

3.3 Organiziranost Organisation

3.4. Mission and vision

MissionOur mission is to ensure that all the airports users are provided with flight services and other commercial services that are safe, punctual and of high quality, and to attend to the development of the airport in line with passengers demands, the types of traffic and the requirements of the European Union.

VisionIn the next decade we aim to expand our infrastructure and in-crease our traffic also outside Europe to become a leading pro-vider of air connections and services in this region, both for pas-senger traffic and cargo traffic.

Računovodsko-informacijska službaAccounting and Information Dep.

Finančno-analitska službaFinancial and Analysis Dep.

Služba koordinacije prometaTraffic Coordination

Služba za sprejem in odpravo potnikovPassenger Handling Service

Služba za sprejem in odpravo letalAircraft Handling Service

Tehnično-gasilska služba Technical and Fire Protection Service

Avioblagovna službaCargo Service

Služba oskrbe splošnega letalstvaGeneral Aviation

Služba vzdrževanjaMaintenance

Pravno področjeLegal Department

Področje notranjega nadzoraInternal Control Department

Področje za varnost in zaščitoSecurity and Safety Center

Splošno-kadrovsko področjePersonnel Department

Strokovni sodelavci upraveConsultants to the Management Board

Prometno-tehnični sektorTraffic-technical Division

Komercialni sektorCommercial Division

Finančni sektorFinancial Division

AeroinženiringAero-Engineering Division

Sektor za informatiko in organizacijoIT and Organisation Division

UPRAVA DELNIŠKE DRUŽBEMANAGEMENT BOARD

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4. POROČILO PREDSEDNIKA UPRAVE REPORT FROM THE PRESIDENT OF THE MANAGEMENT BOARD

Spoštovani vlagatelji, poslovni partnerji in uporabniki storitev Aerodroma Ljubljana! Aerodrom Ljubljana je tudi v letu 2006 nadaljeval začrtano pot iz preteklih let. Rasli smo in odpirali prostor na številnih področjih: za nove letalske prevoznike, nove destinacije, zaposlene, potnike, različne ideje in projekte. 2006 je bilo leto, zgoščeno s številnimi dogodki, pomembnimi odločitvami in s spremembami v okolju, ki do nas niso bile vedno prijazne.

Soočali smo se s prostorsko stisko, izjemno zahtevno organizacijo operativnega dela na letališču zaradi gradnje, dodatnim delom zaradi sprememb, ki nam jih je na področju kontrolnih pregledov potnikov naložila zakonodaja, in z vedno ostrejšimi pogoji, ki nam jih zaradi ostre konkurence v panogi postavljajo letalski prevozniki. Vse to smo z voljo, preudarnostjo in vztrajnostjo zaposlenih na Aerodromu Ljubljana uspeli obvla-dati in upravičili zaupanje, ki nam ga dajejo naši lastniki.

Leto rekordnega prometa

Leto 2006 je bilo rekordno po številu prepeljanih potnikov in količini tovora ter po številu opravljenih premikov letal. Čez letališče je potovalo 1.334.355 potnikov, kar je za 10 odstotkov več kot v letu 2005. Opravljenih je bilo 40.991 premikov letal, kar je za 9 odstotkov več kot leto prej. Najbolj se je povečal tovorni promet, ki ga je bilo za 32 odstotkov več.

Januarja je z operacijami začel turški letalski prevoznik Turkish Airlines, maja je ponudbo na letališču z dvema novima povezavama obogatil nizkostroškovni pre-voznik Wizz Air, pomembno pridobitev pa predstavlja tudi redni čarterski pre-voznik First Choice, ki tedensko leti med Londonom in Ljubljano ter zagotavlja pri-hod angleških gostov v naša turistična središča. Razvoj ljubljanskega letališča v vozlišče za tovorni promet je omogočil UPS, ki od novembra naprej na Brnik dnevno leti s tovornimi letali Boeing 767.

Povečanemu obsegu prometa je sledilo tudi zaposlovanje. Ob koncu leta smo imeli 372 redno zaposlenih, kar v primerjavi z lanskim letom predstavlja 12-odstotno rast.

Leto odličnega poslovanja

Finančni rezultati kažejo uspešnost poslovanja družbe, ki se kaže v preseženih ka-zalnikih poslovanja v primerjavi s preteklim letom in z načrtovanim. Lanski čisti dobiček je presežen za dobrih 10 odstotkov, načrtovanega pa smo presegli za skoraj 11 odstotkov. Na uspešno poslovanje kažejo tudi kazalniki rasti gospodar-nosti poslovanja, rast čistega dobička na delnico, donosa na kapital in na celotna sredstva ter rast dodane vrednosti na zaposlenega.

Vinko Može,predsednik uprave

President of the Management Board

Dear investors, business partners, and users of Aerodrom Ljubljana services

In 2006 Aerodrom Ljubljana continued along the path it has set out in past years. The company has grown, expanding in a number of areas: new airline carriers, new destinations, and new employ-ees, passengers, different ideas and projects. Indeed, 2006 was a year packed with events, major decisions, and changes in the business environment, changes that did not always favour the company.

We faced spatial pressures, exceptionally difficult organisation of operational work at the airport because of the ongoing construc-tion, additional work due to changes required by new legislation on passenger security checks, and increasingly difficult conditions in dealings with air carriers, given the intense competition within the sector. The positive attitude, commitment and persistence of the Aerodrom Ljubljana employees has enabled us to meet these tasks and justify the trust placed in us by our shareholders.

A year of record figures

Our 2006 figures set a record for the number of passengers and volume of cargo transported, as well as the number of aircraft movements. A total of 1,334,355 passengers passed through the airport, which is 10% more than in 2005. There were 40,991 air-craft movements, which is 9% higher than in 2005, while cargo traffic saw the highest increase, growing by 32%.


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In January the Turkish air carrier Turkish Airlines started operations, and in May the low-cost carrier Wizz Air added two routes to those available from Lju-bljana, with First Choice charter carrier representing another important ac-quisition. Its weekly flights between London and Ljubljana, transport British guests to Slovenian tourism centres. The development of Ljubljana airport as an air freight hub was largely facilitated by UPS, which has been flying Boeing 767 freight aircraft into Ljubljana on a daily basis since November.

The increased volume of transport has been matched by a rise in staff numbers. At the end of the year, the company had 372 full-time employees, an increase of 12% on last year.

A year of business excellence

The financial results reflect the company's successful performance, with per-formance indicators higher than in previous years, and higher than planned. Net profit increased by over 10%, and the planned figure was exceeded by al-most 11%. Other indicators of the positive performance include the operating efficiency ratio, and growth in the net profit per share, return on equity, and return on total assets, and the growth of value added per employee.

The improved operating performance was accompanied by the impact of mov-ing to the international financial reporting standards and increasing the com-pany's capital, which also affected the book value of shares.

A year of investment in infrastructure

The largest and most important investment event this year has been the start of construction work on the new passenger terminal. The central government, which owns the land in the airport zone, has finally granted the airport the right to build after many years of effort to that end. The Agreement with the Slovenian Government handed us the obligation to provide a Schengen-compli-ant border area by June 2007, which made a significant change to the course of the terminal construction project, and also led to a change in priorities for other investments at the airport. As part of the terminal construction project we expanded the aircraft parking apron.

The background documentation and technological design concept for the pub-lic utility and power infrastructure were produced to meet the requirements of the business and logistics zone, which will be built at the airport in future. The project documentation for the first building in the business and logistics zone has already been produced, and the land prepared for construction. A contract has been signed with DHL Express on the construction and long-term lease of the building.

Planning for continued growth and excellence

Our plans for 2007 envisage 9% growth in the number of passengers, 12% growth in the number of aircraft movements, and 10% growth in the volume of transported cargo compared to 2006 figures. We also envisage net profits of 9.6 million euros, which is 9% more than last year. We will continue with the investment plans defined in the company's development strategy. The major investment for 2007 is the completion of the first phase of construction of the new passenger terminal, while other large-scale investments in facilities include the expansion of the main aircraft apron and the taxiway extension.

Izboljšani uspešnosti poslovanja se je pridružil tudi vpliv prehoda na mednarodne standarde računovodskega poročanja s povečanjem kapi-tala družbe, kar posledično vpliva na povišanje vrednosti knjigovodske vrednosti delnice.

Leto investicij v infrastrukturo

Največji in najpomembnejši dogodek na tem področju je začetek grad-nje novega potniškega terminala. Za objekt nam je država, ki je last-nica zemljišč na območju letališča, po večletnih prizadevanjih podelila stavbno pravico. S sporazumom z Vlado Republike Slovenije smo sprejeli obvezo o zagotovitvi schengenskega mejnega prehoda do junija 2007, kar je bistveno spremenilo potek gradnje terminala, hkrati pa je bistve-no vplivalo na prednosti izvajanja načrta drugih potrebnih investicij na letališču. Vezano na gradnjo terminala smo povečali letališko ploščad za parkiranje letal.

Za potrebe poslovno-logistične cone, ki bo v prihodnjih letih zrasla na območju letališča, smo izdelali strokovne podlage ter idejne zasnove komunalne in energetske infrastrukture. Za izgradnjo prvega objekta v poslovno-logistični coni je bila izdelana projektna dokumentacija, zemljišče smo uredili in ga pripravili za gradnjo. Z družbo DHL Ekspres smo podpisali pogodbo o izgradnji in dolgoročnem najemu objekta.

Načrtujemo nadaljevanje rasti in odličnosti

Za leto 2007 načrtujemo 9-odstotno rast števila potnikov, 12-odstotno rast števila premikov letal in 10-odstotno rast prepeljanega tovora v primerjavi z letom 2006. Načrtujemo, da bomo ustvarili čisti poslov-ni izid v višini 9,6 milijona evrov, kar je za 9 odstotkov več kot lani. Nadaljevali bomo z izvedbo naših investicijskih načrtov, opredeljenih v strategiji razvoja družbe. Največjo investicijo v letu 2007 predstav-lja dokončanje gradnje prve faze novega potniškega terminala, med večjimi investicijami v objekte pa sta še razširitev glavne letališke ploščadi in podaljšek vozne steze.

Leto bodo zaznamovale priprave na predsedovanje Evropski uniji. Za-vedamo se pomena, ki ga ima letališče pri organizaciji in gradnji ugleda naše države v očeh številnih mnenjskih voditeljev, ki nas bodo obiskova-li med predsedovanjem.

Nadaljevali bomo s prizadevanji za izboljšanje ponudbe letalskih pre-voznikov in povezav, kar bomo uresničevali z aktivnim trženjem. Da bi povečali število tujih letalskih gostov v Sloveniji, bomo še naprej aktiv-no povezovali turistični sektor prek konzorcija SPOT in s tem upravičili priznanje, ki mu ga je v minulem letu z nagrado srebrni sejalec za ustvarjalne in inovativne dosežke v turizmu, ki prispevajo k večji pre-poznavnosti turistične ponudbe Slovenije, podelila Slovenska turistična organizacija.

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Poseben izziv, od katerega je odvisna hitrost razvoja poslovno-logistične cone, s tem pa tudi celotne regije, nam predstavlja cilj prepričati Vlado Republike Sloveni-je, da bi ta projekt prepoznala kot razvojni projekt nacionalnega pomena, ki bi bil sofinanciran iz sredstev Evropske unije.

Izpolnitev opisanih načrtov nam daje možnost postati največje in najsodobnejše letališče v regiji. Sedanji upravi, ki jo sestavljava Vinko Može in Zmago Skobir, v začetku julija poteče petletni mandat. Skupaj z zaposlenimi in partnerji Aerodro-ma Ljubljana smo v tem mandatu odgovorno vodili podjetje, ki zagotavlja varne, točne in visokokakovostne storitve za vse uporabnike letališča in predstavlja trdno naložbo svojim lastnikom. Potrditev zapisanega predstavlja tudi prestižna nagrada rating leta; za svojo poslovno učinkovitost smo jo prejela le tri slovenska podjetja, ki se ponašamo z najboljšo bonitetno oceno.

Vse to so naloge, ki jim uprava Aerodroma Ljubljana ostaja zavezana tudi v prihodnje.

Vinko Može, predsednik uprave

This year will also see preparations for Slovenia's presidency of the European Union in 2008. We are fully aware of the importance of the airport to the entire presidency, and to building the reputa-tion of our country in the eyes of the many opinion-formers that will visit Slovenia during the 6-month presidency.

We will continue our efforts to improve the range of air carriers and connections, which will take place through active marketing. To increase the number of foreign holidaymakers arriving by plane we will continue to actively work to integrate the tourist sector via the SPOT consortium, and justify the silver award we received from the Slovenian Tourist Board for innovative achievements in tourism contributing to greater recognition for Slovenia's tourist sector.

One of the challenges before us, which will have a decisive effect on the speed of development for the business and logistics zone, and hence the entire region, is to persuade the Slovenian Govern-ment to recognise the project as a nationally-important develop-ment project, which could be co-financed with EU funds.

Achieving these plans will give us the opportunity to become the largest and most modern airport in the wider region. The term-in-office of the current Management Board, comprising myself, Vinko Može, and Zmago Skobir, expires at the start of July. To-gether with the employees and partners of Aerodrom Ljubljana, we have responsibly led the company, providing secure and safe, punctual and high quality services to all airport users and offer-ing a sound investment to our shareholders. Confirmation of this statement has come with the prestigious Rating of the Year Award, presented to just three Slovenian companies in recognition of the business excellence that has seen them achieve the highest pos-sible credit rating. These then are the task which the Aerodrom Ljubljana Management Board remains committed to in the future.

Vinko Može President of the Management Board


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5. POROČILO NADZORNEGA SVETA O PREVERITVI LETNEGA POROČILA 2006 SUPERVISORY BOARD REPORT ON ITS VERIFICATION OF THE 2006 ANNUAL REPORT

Uvod

Nadzorni svet gospodarske družbe mora po določbi 282. člena Zakona o gospodar-skih družbah (ZGD-1) preveriti sestavljeno letno poročilo družbe in predlog za uporabo bilančnega dobička, ki ju nadzornemu svetu predloži uprava družbe. V poročilu mora nadzorni svet navesti, kako in v kakšnem obsegu je preverjal vodenje družbe med poslovnim letom ter zavzeti stališče do revizorjevega poročila.

Uprava družbe je letno poročilo Aerodroma Ljubljana, d.d., za leto 2006 z revizor-jevim poročilom in predlogom za uporabo bilančnega dobička predložila nadzorne-mu svetu v zakonskem roku.

Delovanje nadzornega sveta Nadzorni svet je v letu 2006 poslovanje Aerodroma Ljubljana, d.d., nadziral v okviru pooblastil in pristojnosti, določenih z Zakonom o gospodarskih družbah (ZGD-1), statutom družbe, Kodeksom upravljanja javnih delniških družb, priporočili Združenja članov nadzornih svetov in poslovnikom o delu nadzornega sveta.

V okviru izvajanja svojih pristojnosti je nadzorni svet svojo nadzorno vlogo izvrševal na osmih rednih in štirih korespondenčnih sejah.

Nadzorni svet ocenjuje, da je imel v poslovnem letu 2006 na voljo dovolj pravočasno pripravljenih podatkov, poročil in informacij ter dodatnih pojasnil in obrazložitev na sejah, da je lahko odgovorno spremljal in nadzoroval poslovanje družbe. Poročanje uprave je nadzornemu svetu v preteklem letu omogočilo ustrezno izvrševanje nad-zorne funkcije.

Nadzorni svet hkrati ocenjuje, da so se v letu 2006 nadaljevale aktivnosti, ki bi umes-tile Aerodrom Ljubljana v pomembno regionalno transportno vozlišče. Posebej je po-hvalna rast tovornega prometa, povečanje števila prevoznikov, ki tudi pospešujejo aktivnosti v Adrii Airways, in seveda zavidljiva rast finančnih pokazateljev.

V celoti je bil upoštevan tudi sklep Vlade Republike Slovenije o obvezni pridobitvi licence za člane nadzornega sveta, saj so vsi člani nadzornega sveta, ki jih je pred-lagala Vlada, pridobili zahtevano znanje o nadzorništvu oz. potrdila o izpolnjevanju znanja, kot to velja za člane nadzornih svetov gospodarskih družb, kjer je večinski lastnik država.

Obseg in način preverjanja vodenja družbe v letu 2006

Aprila je nadzorni svet obravnaval in sprejel revidirano letno poročilo družbe za leto 2005, sprejel poročilo nadzornega sveta o načinu in rezultatih preveritve let-nega poročila in izjavo o spoštovanju Kodeksa upravljanja javnih delniških družb za leto 2005. Soglašal je s predlogom uprave za uporabo bilančnega dobička, uvedbo kosovnih delnic in predlagal imenovanje revizorja za leto 2006, o čemer je odločala skupščina delniške družbe. Uprava in nadzorni svet sta na 10. seji skupščine prejela razrešnico za njuno delo v letu 2005.

Nadzorni svet se je seznanil s poročilom o delu notranje revizijske službe ter potrdil pravilnik o delu notranje revizijske službe. Ugotovil je, da je notranja revizijska služba

Introduction

According to Article 282 of the Companies Act (ZGD-1), the Super-visory Board is obliged to annually verify the company's annual report, and the proposal to use the accumulated profit, which are submitted to the Supervisory Board by the Management Board. The Supervisory Board is obliged to indicate in its report the man-ner in which and the extent to which it has verified the manage-ment of the company during the business year and give its posi-tion on the Auditor's Report.

The company's Management Board submitted the 2006 Annual Report of Aerodrom Ljubljana, d.d. with the Auditor's Report and the proposal for the use of the accumulated profit to the Supervi-sory Board within the legally prescribed time limit.

Functioning of the Supervisory Board

In 2006 the Supervisory Board supervised the operations of Aero-drom Ljubljana, d.d. within the scope of its powers and responsi-bilities as defined in the Companies Act (ZGD-1), the company's Articles of Association, the Corporate Governance Code, the rec-ommendations of the Association of Supervisory Board Members and the Supervisory Board Rules of Procedure.

In implementing its responsibilities, the Supervisory Board per-formed its supervisory role at eight regular and four correspon-dence meetings.

The Supervisory Board assessed that during the 2006 business year it was provided with sufficient data, reports and information which were prepared on time, as well as the additional clarifica-tions and explanations it required at its meetings to monitor and supervise company operations. The Management Board's reports to the Supervisory Board over the past year allowed it to carry out its supervisory function appropriately.

The Supervisory Board assesses that the activities performed in 2006 have established Aerodrom Ljubljana as an important re-gional transport hub. Achievements that have been particularly worthy of praise have been the growth in cargo traffic, the in-crease in the number of carriers, which has also been increased by Adria Airways activities, and of course the enviable growth in financial performance indicators.

The resolution issued by the Slovenian Government on the manda-tory acquisition of licences for supervisory board members was implemented in full, with all Supervisory Board members proposed by the Government having acquired the requisite knowledge or qualifications on supervision as required for supervisory board members of companies under majority ownership of the state.

Extent and method of verifying corporate management in 2006

In April, the Supervisory Board discussed and approved the au-dited annual report for 2005, approved the supervisory board report on the method and results of the verification of the an-nual report and the 2005 Corporate Governance Code Compliance Statement. It agreed to the Management Board's proposal for use of the accumulated profit, and the introduction of no-par value

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opravljala svoje naloge skladno z letnim načrtom notranjih revizij.Glede na določila Kodeksa upravljanja javnih delniških družb je nadzorni svet sprejel spremembe in dopolnitve poslovnika o delu nadzornega sveta v zvezi z opredelitvijo nasprotja interesov pri članih nadzornega sveta in uporabo ukrepov ob nastopu nas-protja interesov.

Nadzorni svet je med letom spremljal uresničitev zastavljenih ciljev za leto 2006 na podlagi trimesečnega poročila družbe in nerevidiranih računovodskih izkazov družbe za prvo polletje leta 2006. Ob obravnavi devetmesečnega poročila o po-slovanju družbe je nadzorni svet ugotovil, da se uresničujejo začrtani letni načrti in strateški cilji. Vsa poročila za leto 2006 so bila izdelana skladno z Mednarodnimi standardi računovodskega poročanja.

V preteklem letu je nadzorni svet večkrat obravnaval intenzivno investicijsko deja-vnost družbe, ki poteka zaradi zagotovitve schengenskega mejnega prehoda na Aero-dromu Ljubljana. Nadzorni svet je tako skladno z določili statuta družbe med drugim dal soglasje upravi za sklenitev pogodbe za izgradnjo 1. faze novega potniškega terminala T2 in adaptacijo sedanjega potniškega terminala T1, soglasje za sklenitev pogodbe za izdelavo štirih mostov za dostop potnikov iz oz. v letalo ter soglasje za sklenitev prodajne pogodbe, sklenjene z Republiko Slovenijo, za del novozgrajenega potniškega terminala (1. faza) za potrebe mejne kontrole v skladu s schengenskimi standardi.

Uprava je nadzorni svet seznanila z aktivnostmi v zvezi z izgradnjo poslovne cone ob letališču, v kateri je družba od leta 2004 dalje odkupila 27 ha zemljišč, namenjenih gradnji objektov za opravljanje dejavnosti, ki dopolnjujejo ponudbo letališča.

Ob koncu preteklega leta je nadzorni svet soglašal s temelji poslovne politike in finančnim načrtom družbe ter načrtom investicij za leto 2007.

Nadzorni svet je v letu 2006 sprejel 38 sklepov.

Janez Čadež,predsednik nadzornega sveta

President of the Supervisory Board

shares, and proposed the appointment of the auditor for 2006, which was then decided upon by the company's General Meeting. The Management Board and Supervisory Board received a formal approval for their work in 2005 at the 10th general meeting of the company.

The Supervisory Board was sent the report on the work of the internal audit service and approved the rules of procedure for the internal audit service. It found that the service had performed its work in accordance with the annual internal audit plan.

In view of the provisions of the Corporate Governance Code, the Supervisory Board adopted amendments to the rules of procedure for the Supervisory Board relating to the definition of conflicts of interest for board members, and the application of measure in case such conflicts of interest occur.

During the year, the Supervisory Board monitored the realisation of the objectives set for 2006 using the company's quarterly re-ports and the unaudited financial statements for the first half year of 2006. When it discussed the January-September company report, the Supervisory Board found that the annual plans and strategic objectives had been realised. All the 2006 reports were produced in accordance with the International Financial Report-ing Standards.

On a number of occasions over the past year, the Supervisory Board discussed the company's major investments underway as part of the project to set up a Schengen-compliant border area at Ljubljana Airport. In accordance with the company's articles of association, the Supervisory Board gave its consent to the Man-agement Board to conclude a contract on the construction of the new T2 passenger terminal and the reconstruction of the current T1 passenger terminal, its consent for conclusion of a contract to install four passenger boarding bridges, and its consent for con-clusion of a sales contract with the Republic of Slovenia for part of the newly constructed passenger terminal (Phase 1) for the pur-poses of border control in accordance with Schengen standards.

The Management Board notified the Supervisory Board of its ac-tivities relating to construction of a business and logistics zone next to the airport, where in 2004 the company purchased land to be used for a range of facilities for supplementary activities to expand the services offered by the airport.

At the end of the past year the Supervisory Board consented to the company's basic business policies and financial plan and invest-ment plan for 2007.

The Supervisory Board adopted 38 resolutions in 2006.


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The Supervisory Board's position on the 2006 Auditor's Report

The Supervisory Board was sent the Auditor's Report and found that the auditor had issued an unqualified opinion on the financial statements.

In accordance with the recommendations of the Corporate Gover-nance Code, the auditor attended the Supervisory Board meeting at which it discussed the company's annual report.

The Supervisory Board did not make any comments on the audi-tor's report, and upheld it.

Proposal for use of the accumulated profit

The Supervisory Board also verified the proposal for the use of the accumulated profit in the amount of 6,039,135.18 euros (1,447,218,355 tolars). The final decision on the use of profit is made by the company's General Meeting.

The Supervisory Board agreed with the proposal by the Manage-ment Board to allocate 4,176,180 euros (1,000,779,703 tolars) for dividend payments to shareholders, and 1,786,455 euros (428,106,192 tolars) to other profits. A total of 76,500 euros (18,332,460 tolars) was allocated to bonus payments for members of the Supervisory Board.

The Supervisory Board assesses that the proposal is in accor-dance with the company's strategic objectives, investment plans, and dividend policy.

The proposed dividend for 2006 is 1.10 euros per share. In accor-dance with the articles of association, the dividend for the partici-pating preference shares and ordinary shares is the same.

Approval of 2006 Annual Report

During the process of discussing and verifying the 2006 Annual Report of Aerodrom Ljubljana, d.d., the Supervisory Board found that the report prepared by the Management Board and verified by an independent auditor contained all the legal requirements for the form and content of a company annual report, and was submitted to the Supervisory Board within the prescribed time. It found that the annual report had been prepared in a high qual-ity and transparent manner, and provided owners and the public with an overview of the conditions and results of the company's performance in 2006.

After its verification, the Supervisory Board had no comments on the company's 2006 Annual Report, and approved it unanimously at its 17th meeting, held on 17 April 2007.

The Supervisory Board proposes that the General Meeting give its formal approval to the Management Board and Supervisory Board for their operations in 2006.

Zg. Brnik, 17 April 2007

Janez ČadežPresident of the Supervisory Board

Stališče nadzornega sveta do revizijskega poročila za leto 2006

Nadzorni svet se je seznanil z revizorjevim poročilom in ugotovil, da je bilo izdano pritrdilno mnenje.

Skladno s priporočili Kodeksa upravljanja javnih delniških družb je revizor prisost-voval seji nadzornega sveta, na kateri so obravnavali letno poročilo družbe.

Nadzorni svet na revizorjevo poročilo ni imel pripomb in z njim soglaša.

Predlog za uporabo bilančnega dobička

Nadzorni svet je preveril tudi predlog za uporabo bilančnega dobička v višini 6.039.135,18 evra (1.447.218.355 tolarjev), o katerem dokončno odloča skupščina delniške družbe .

Soglašal je s predlogom uprave, po katerem naj bi za izplačilo dividend delničarjem namenili 4.176.180 evrov (1.000.779.703 tolarjev), za druge rezerve pa bi name-nili 1.786.455 evrov (428.106.192 tolarjev). Udeležbi članov nadzornega sveta pri dobičku se namenja 76.500 evrov (18.332.460 tolarjev).

Nadzorni svet ocenjuje, da je navedeni predlog v skladu s strateškimi cilji, investici-jskimi načrti in dividendno politiko družbe.

Predlagana dividenda za leto 2006 znaša 1,10 evra bruto na delnico. Skladno s statutom družbe je dividenda prednostnih participativnih delnic in navadnih delnic enaka.

Potrditev letnega poročila družbe za leto 2006

V postopku obravnave in preveritve letnega poročila Aerodroma Ljubljana, d.d., je nadzorni svet ugotovil, da letno poročilo za leto 2006, ki ga je pripravila uprava in preveril revizor, vsebuje vse zakonsko obvezne formalne in vsebinske sestavine let-nega poročila gospodarskih družb in je bilo pravočasno predloženo nadzornemu sve-tu v preveritev. Ugotavlja, da je letno poročilo pripravljeno kakovostno in pregledno ter omogoča lastnikom in javnosti vpogled v pogoje in rezultate poslovanja družbe v letu 2006.

Nadzorni svet po opravljeni preveritvi na letno poročilo družbe za leto 2006 ni imel pripomb in ga je na 17. seji nadzornega sveta dne 17. 4. 2007 soglasno sprejel. Nadzorni svet predlaga skupščini, da upravi in nadzornemu svetu podeli razrešnico za poslovanje v letu 2006.

Zg. Brnik, 17. april 2007

Janez ČadežPredsednik nadzornega sveta

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6. UPRAVLJANJE DRUŽBE CORPORATE GOVERNANCE

6.1 Dvotirni sistem upravljanja družbe

Upravljanje Aerodroma Ljubljana, d.d., poteka po dvotirnem sistemu, po katerem družbo vodi uprava, njeno delovanje pa nadzoruje nadzorni svet.

Organi družbe so:

> uprava,> nadzorni svet,> skupščina.

6.2 Skupščina delničarjev

Delničarji družbe uresničujejo svoje pravice pri zadevah družbe na skupščini delničarjev skladno z določili statuta družbe in Zakona o gospodarskih družbah. Statut družbe Aerodrom Ljubljana, d.d., je objavljen na spletni strani družbe www.lju-airport.si v slovenskem in angleškem jeziku.

Skupščino delničarjev sklicuje uprava družbe praviloma enkrat na leto. Sklic skupščine s predlogi sklepov je javno objavljen najmanj 30 dni pred zasedanjem skupščine.

Pravico do udeležbe na skupščini imajo delničarji, vpisani v delniško knjigo na presečni datum, objavljen ob sklicu, ter njihovi zastopniki in pooblaščenci, ki najpozneje tri dni pred zasedanjem skupščine pisno najavijo svojo udeležbo.

Delničarji Aerodroma Ljubljana, d.d., so na 10. seji skupščine Aerodrom Ljubljana, d.d., ki je bila 22. 6. 2006, odločali o:

> uporabi bilančnega dobička za poslovno leto 2005 in podelili razrešnico upravi družbe in nadzornemu svetu,> imenovanju revizorja za leto 2006,> plačilih članom nadzornega sveta,> prehodu na evro - uvedbi kosovnih delnic.

Vlada Republike Slovenije je sredi novembra preteklega leta upravi družbe na podla-gi določila 296. člena Zakona o gospodarskih družbah posredovala zahtevo za sklic skupščine zaradi odpoklica člana nadzornega sveta in izvolitve novega člana nad-zornega sveta. Vabilo za izredno sejo skupščine je bilo javno objavljeno v decembru.

6.3 Nadzorni svet družbe

Nadzorni svet Aerodroma Ljubljana, d.d., je sestavljen iz desetih članov. Izvoli jih skupščina delničarjev z navadno večino glasov za štiriletno obdobje z možnostjo ponovnega imenovanja.

Med desetimi člani jih sedem izvolijo delničarji, in sicer štiri na predlog Republike Slovenije, po enega člana predlagajo Kapitalska družba, d.d., Slovenska odškodninska družba, d.d., in pooblaščene investicijske družbe, enega pa predlagajo drugi delničarji. Tri člane kot predstavnike delavcev izvoli svet delavcev Aerodroma Ljubljana, d.d.Predsednika nadzornega sveta in njegovega namestnika izvolijo člani nadzornega sveta.

Način dela nadzornega sveta podrobneje ureja Poslovnik o delu nadzornega sveta. Naloge oziroma pristojnosti nadzornega sveta opredeljuje Statut družbe Aerodrom Ljubljana, d.d.

6.1. Two-tier corporate governance system

Aerodrom Ljubljana, d.d. is managed according to a two-tier sys-tem, whereby the company is managed by the Management Board, and its operations supervised by the Supervisory Board.

The company's governing bodies are:

> the Management Board> the Supervisory Board> the General Meeting.

6.2. The General Meeting

The company's shareholders exercise their rights relating to company affairs at the general meeting of shareholders, in accor-dance with the provisions of the company's articles of association and the Companies Act. The Articles of Association of Aerodrom Ljubljana, d.d. are available online at www.lju-airport.si in Slovene and English.

The general meeting of shareholders is generally convened by the Management Board on an annual basis. The notice convening the general meeting and publishing the proposed resolutions is is-sued at least 30 days before the general meeting is to be held.

Shareholders recorded in the shareholders- register on the cut-off date given in the notice convening the general meeting have the right to participate, and the same rights may be exercised by shareholders- representatives and agents who file the appropri-ate power of attorney at least three days before the meeting.

At the tenth general meeting of Aerodrom Ljubljana, d.d., held on 22 June 2006, shareholders decided on:

> the use of the accumulated profit for the 2005 financial year and discharge of the company's Management Board and Supervisory Board > the appointment of the auditor for 2006> payment for members of the Supervisory Board> transition to the euro - introduction of no par-value shares.

In mid-November last year, the Slovenian Government submitted a call to convene a general meeting, pursuant to Article 296 of the Companies Act, to address the removal of a Supervisory Board member and election of a new member. The notice convening the extraordinary general meeting was published in December.

6.3. Supervisory Board

The Supervisory Board of Aerodrom Ljubljana, d.d. comprises ten members elected by the general meeting with an ordinary major-ity of votes for a period of four years with the possibility of being reappointed.

Seven of the ten members are elected by shareholders as follows: four at the proposal of the Republic of Slovenia, one at the pro-posal of Kapitalska družba, d.d. (KAD Pension Fund), one at the proposal of Slovenska odškodninska družba, d.d. (SOD - Slovenian Restitution Fund) and authorised investment companies, and one at the proposal of other shareholders. Three members represent-ing the employees are elected by the works council of Aerodrom Ljubljana, d.d.

The president and vice-president of the Supervisory Board are elected by the members of the Supervisory Board.The Supervisory Board acts according to its Rules of Procedure.

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V letu 2006 se sestava nadzornega sveta ni spreminjala. Sestavljali so ga:

> predstavniki delničarjev: Janez Čadež (predsednik), David Benedek, Miloš Bevc, Peter Habjan, Dušan Hočevar, Milan Kneževič in Janez Potočnik;> predstavniki zaposlenih: Drago Čotar, Igor Domevščik in Bogdan Novak.

6.4 Uprava družbe

Skladno s statutom ima uprava Aerodroma Ljubljana, d.d., največ tri člane, od katerih je eden predsednik uprave.

Število članov uprave in področja v pristojnosti člana uprave določi nadzorni svet.

Mandat predsednika in članov uprave je pet let z možnostjo ponovnega imenovanja.

Družbo je v letu 2006 vodila dvočlanska uprava. Predsednik uprave je Vinko Može, član uprave pa Zmago Skobir.

Uprava vodi Aerodrom Ljubljana, d.d., v dobro družbe in na lastno odgovornost.

6.5 Obveščanje javnosti

Uprava družbe Aerodrom Ljubljana, d.d., skladno s Statutom družbe in veljavno zako-nodajo objavlja podatke, poročila in druge informacije, pomembne za delničarje ter javnost, na spletnih straneh Ljubljanske borze SEOnet in v drugih sredstvih javnega obveščanja.

6.6 Izjava o skladnosti upravljanja družbe Aerodrom Ljubljana, d.d., s Kodeksom upravljanja javnih delniških družb (z dne 14. 12. 2005)

Aerodrom Ljubljana, d.d., kot javna družba, katere delnice so uvrščene v borzno ko-tacijo Ljubljanske borze, posluje skladno z določili Zakona o gospodarskih družbah ter spoštuje določila Zakona o trgu vrednostnih papirjev in pravila Ljubljanske borze ter druge splošne predpise, ki urejajo vprašanja, obravnavana tudi v Kodeksu uprav-ljanja javnih delniških družb.

Aerodrom Ljubljana, d.d., spoštuje določbe Kodeksa upravljanja javnih delniških družb, ki je javno dostopen na spletni strani Ljubljanske borze www.ljse.si, z odsto-panji, ki so obrazložena v nadaljevanju.

> Določilo Kodeksa 1.3.8. Če je točka dnevnega reda odločanje o volilnih predlogih za člane nadzornega sveta, naj nadzorni svet v sodelovanju z upravo poskrbi za pravočasno javno objavo ustreznih informacij o kandidatih (izobraz- ba, predhodne izkušnje, zaposlitev, članstvo v nadzornih svetih drugih delniških družb, potencialna nasprotja interesov ...). Do sedaj družba ni objavljala informacij o kandidatih za člane nadzornega sveta. V prihodnje, ko bo točka dnevnega reda v sklicu skupščine odločanje o volilnih predlogih za člane nadzornega sveta, bo družba spoštovala določbo Kodeksa in objavila tudi ustrezne informacije o kandidatih, vse ob spoštovanju določb Zakona o varstvu osebnih podatkov.

The powers and obligations of the Supervisory Board are laid down in the Articles of Association of Aerodrom Ljubljana, d.d.

The composition of the Supervisory Board did not change in 2006. It was composed of:

> shareholders' representatives: Janez Čadež (President), David Benedek, Miloš Bevc, Peter Habjan, Dušan Hočevar, Milan Kneževič and Janez Potočnik; and> employee representatives: Drago Čotar, Igor Domevščik and Bogdan Novak.

6.4. Management Board

In accordance with the Articles of Association, the Manage-ment Board of Aerodrom Ljubljana, d.d. comprises a maximum of three members, one of which is the president of the management board.

The number of Management Board members and their areas of responsibility are defined by the Supervisory Board.

The term-in-office for members of the Management Board is five years, with the possibility of re-appointment.

In 2006 the company was run by a two-member management board: Vinko Može, President of the Management Board, and Zma-go Skobir, Member of the Management Board.

The Management Board manages Aerodrom Ljubljana, d.d. to the benefit of the company and are liable for their actions.

6.5. Communicating with the public

The Management Board of Aerodrom Ljubljana, d.d., in accordance with the Articles of Association and applicable legislation, pub-lishes data, reports and other information of relevance to share-holders and the public via the website of the Ljubljana Stock Ex-change (SEOnet) and in other public media.

6.6. Aerodrom Ljubljana's Statement of Compliance with the Corporate Governance Code (14 December 2005)

As a public company whose shares are listed on the Ljubljana Stock Exchange, Aerodrom Ljubljana d.d. conducts its business in accordance with the provisions of the Companies Act and adheres to the provisions of the Securities Market Act and the rules of the Ljubljana Stock Exchange, as well as to other general regulations governing issues addressed by the Corporate Governance Code.Aerodrom Ljubljana, d.d. abides by the provisions of the Corpo-rate Governance Code, which is publicly accessible on the website of the Ljubljana Stock Exchange, www.ljse.si, with variances ex-plained below.

> Code provision 1.3.8; If an item on an agenda concerns a decision on proposed members for election to the supervisory board, the supervisory board should work with the management board to ensure the timely publication of relevant information on the candidates (education, previous experience, employment, membership of supervisory boards of other public limited companies, potential conflicts of interest and so forth). To date the Company has not published information on candidates for membership of the Supervisory Board. In the future, when an item on the agenda of the general meeting concerns deciding on proposed members for election to the Supervisory Board, the Company will abide by the provision


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of the Code and will publish relevant information on candidates, while of course observing the provisions of the Personal Data Protection Act.> Code provision 1.3.9; Members of the supervisory board should be elected by the general meeting individually. To date the Company has not observed the recommendation regarding individual election of Supervisory Board members. In future, when an item on the agenda concerns deciding on proposed members for election to the Supervisory Board, the Company will observe this recommendation.> Code provision 1.3.12; The management board must at the earliest opportunity publish adopted general meeting resolutions and information on possible dissenting challenges or null and void complaints notified at the shareholders’ meeting. In such publication the company should also indicate:- possible (additional) price-sensitive information given at the general meeting;- the proportion of represented shares with voting rights with which an individual resolution of the general meeting has been passed (expressed as a percentage of all shares with voting rights);- the proportion of voting rights of the top five biggest shareholders present at the general meeting (expressed as a percentage of all shares with voting rights);- the majority obtained in individual resolutions passed and the majority obtained in individual resolutions not passed at the general meeting. On convening subsequent general meetings the Company will observe the above-mentioned new recommendation.> Code provision 2.2.1; The articles of association or, in agreement with the supervisory board, the rules of procedure of the management board, shall lay down the demarcation of working areas and tasks between management board members and the manner of their functioning. The resolution on the appointment of the Management Board member set out the areas covered by the Board member. > Code provision 3.4.1; Members of supervisory boards should be entitled to payment for performing their function, payment for work in the committees of the supervisory board, payment for participation in meetings and reimbursement of expenses. In line with the resolution from the 6th general meeting of 26 June 2002, and the resolution of the 10th general meeting of 22 June 2006, the Company only pays Supervisory Board members for participation in meetings and reimbursement of expenses. The 10th general meeting passed a resolution on payment for work in supervisory board committees.> Code Provisions 3.6, 3.7, 3.8, 3.9; The provisions relate to deter- mining the committees of the Supervisory Board, the audit committee, the appointments committee and the remuneration committee. To date the Supervisory Board has not acted with regard to the formation of standing committees. In the future, the Supervi- sory Board will set up committees for individual areas as required, and these will provide assistance to the Board in decision-making.> Code provision 6.1.5; Companies should change their auditing companies or auditing partner at least once every five years. The Company has not yet implemented the Code recommendation that companies should change their auditor at least once every five years. Since 1998 audits of the Company's accounts have been performed by the company KPMG Sloveni- ja, podjetje za revidiranje, d.o.o. The audit team has been changed over that period.> Code provision 7.3.4; Companies should assess the need for prescribing an internal company act laying down rules restricting the trading in and on disclosure of trading in company shares and shares of associated companies. Companies are encouraged to prescribe in such acts a precise list of persons governed by restrictions on trading and the period of restric-

> Določilo Kodeksa 1.3.9. Člane nadzornega sveta naj skupščina delničarjev voli posamično. Priporočila o posamični izvolitvi članov nadzornega sveta družba doslej ni upoštevala. V prihodnje, ko bo točka dnevnega reda odločanje o volilnih predlogih za člane nadzornega sveta, bo družba upoštevala to priporočilo.> Določilo Kodeksa 1.3.12. Uprava mora takoj, ko je mogoče, objaviti sprejete sklepe skupščine ter informacijo o morebitnih na skupščini delničarjev napove- danih izpodbojnih ali ničnostnih tožbah. V objavi naj družba navede tudi:- morebitne na skupščini dane (dodatne) cenovno občutljive informacije;- delež zastopanih delnic z glasovalno pravico, s katerim je bil izglasovan posamezen sklep skupščine (izražen v odstotku glede na vse delnice z glasovalno pravico);- delež glasovalnih pravic na skupščini prisotnih prvih petih največjih delničarjev (izražen v odstotku glede na vse delnice z glasovalno pravico);- dosežena večina pri posameznih izglasovanih sklepih oziroma dosežena večina pri posameznih neizglasovanih sklepih skupščine. Družba bo ob sklicu naslednjih skupščin upoštevala navedeno novo priporočilo.> Določilo Kodeksa 2.2.1. Statut ali v soglasju z nadzornim svetom poslovnik o delu uprave določata razdelitev delovnih področij in nalog med člani uprave in način njihovega delovanja. S sklepom o imenovanju člana uprave so bila določena področja, ki jih pokriva član uprave. > Določilo Kodeksa 3.4.1. Člani nadzornih svetov naj bodo za svoje delo upravičeni do plačila za opravljanje funkcije, plačila za delo v komisijah nadzornega sveta, plačila za udeležbo na seji - sejnine in povračila stroškov. Družba skladno s sklepom 6. seje skupščine z dne 26. 6. 2002 in sklepom 10. seje skupščine z dne 22. 6. 2006 članom nadzornega sveta izplačuje le sejnino in povračila stroškov. Na 10. seji skupščine je bil sprejet sklep o plačilu za delo v komisijah nadzornega sveta.> Določila Kodeksa 3.6, 3.7, 3.8, 3.9. Določila se nanašajo na oblikovanje komisij nadzornega sveta, revizijske komisije, komisije za imenovanja in komisije za prejemke. Nadzorni svet se pri svojem poslovanju do sedaj ni odločil za oblikovanje stalnih komisij. V prihodnje bo nadzorni svet v skladu s potrebami ustanavljal komisije za posamezna področja, ki mu bodo nudile pomoč pri odločanju.> Določilo Kodeksa 6.1.5. Družba naj zamenja revizijsko družbo oziroma revizorja - partnerja vsaj enkrat na vsakih pet let. Priporočila Kodeksa, da naj družba zamenja revizorja vsaj enkrat na vsakih pet let, družba še ni uveljavila. Od leta 1998 opravlja revizijo računovodskih izkazov revizijska družba KPMG Slovenija, podjetje za revidiranje, d.o.o. V tem obdobju se je zamenjala revizijska ekipa.> Določilo Kodeksa 7.3.4. Družba naj presodi potrebo po predpisu notranjega akta družbe, v katerem predpiše pravila o omejitvi trgovanja in razkritja trgovanja z delnicami družbe ter delnicami povezanih družb. Priporoča se, da družba v aktu predpiše natančen seznam oseb, za katere velja omejitev trgovanja in časovno obdobje omejitve trgovanja, ki je vezano na razkritje informacij. Poročanje članov uprave in nadzornega sveta o trgovanju z delnicami družbe ureja Sklep o poročanju o poslih oseb, ki so jim dostopne notranje informacije v skladu z Zakonom o trgu vrednostnih papirjev. Družba nima akta, s katerim bi omejila trgovanje z delnicami družbe ter delnicami povezanih družb, vendar pa ima Sklep o varovanju poslovne skrivnosti, ki velja tudi za člane nadzornega sveta. Družba ima tudi izdelan seznam oseb, ki so jim dostopne notranje informacije.> Določilo Kodeksa 7.5.1. Spletne strani družbe naj vsebujejo vse ključne podatke o družbi in poslovanju. Priporočilo o objavi ažuriranega prospekta, predstavitve strategije in seznama prvih 50 največjih imetnikov delnic na spletni strani bo družba upoštevala v prihodnjem letu.

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Izjava o spoštovanju Kodeksa upravljanja javnih delniških družb se nanaša na obdobje januar - december 2006 in je objavljena na spletni strani družbe www. lju-airport.si.

V nadaljevanju navajamo še odstopanja od sprememb in dopolnitev Kodeksa uprav-ljanja javnih delniških družb, ki veljajo od 5.2.2007.

> Določilo Kodeksa 4. odstavek 1.3.7. Poslovodstvo naj na uradni spletni strani družbe objavi skupno število delnic in glasovalnih pravic ter število delnic in glasovalnih pravic po posameznem razredu, po stanju ob sklicu skupščine. Navedeno priporočilo bo družba upoštevala v letu 2007.> Določilo Kodeksa 1.3.12. Informacija o organiziranem zbiranju pooblastil za glasovanje na skupščini naj se javno objavi na uradni spletni strani družbe. Priporočilo o objavi organiziranega zbiranja pooblastil za glasovanje na skupščini bo družba upoštevala ob sklicu skupščine v letu 2007.> Določilo Kodeksa 1.3.19. Skupščina naj sprejema sklepe o razrešnici organom vodenja ali nadzora ločeno za vsak organ. Član organa vodenja ali nadzora naj ne glasuje o svoji razrešnici. Navedeno priporočilo bo družba upoštevala ob sklicu skupščine v letu 2007.

Izjava o spoštovanju Kodeksa upravljanja javnih delniških družb bo objavljena na spletni strani družbe www.lju-airport.si.

Zg. Brnik, 17. april 2007

Janez Čadež Vinko Možepredsednik nadzornega sveta predsednik uprave

tion on trading tied to disclosure. The reporting by members of the Management and Superviso- ry Boards on trading in company shares is regulated by the De- cision on reporting on the transactions of persons to whom internal information is accessible, in accordance with the Se- curities Market Act. The Company has no internal act restricting trading in Com- pany shares and shares of associated companies, but it does have a Decision on the protection of commercial confidential- ity, which also applies to members of the Supervisory Board. The Company also has a list of persons to whom internal information is accessible.> Code provision 7.5.1; Company websites should contain all key data on companies and their operations. The Company will accommodate the recommendation regarding an updated prospectus, presentation of the strategy and a list of the top 50 shareholders on the website in the coming year. The Corporate Governance Code Compliance Statement relates to the period from January to December 2006 and is published on the company website: www.lju-airport.si.

Below are given the divergences from the amendments to the Cor-porate Governance Code in effect from 5 February 2007.

> Code provision 4. paragraph 1.3.7. On the company’s official website, the management should publish the total number of shares and voting rights and number of shares and voting rights by individual share class, as on the day the General Meeting is convened. The recommendation will be implemented during 2007. > Code provision 1.3.12. Information on how the collection of voting authorisations is organised at the General Meeting should be published on the company’s official website. The recommendation on publishing details on how voting authorisations are collected at the General Meeting will be taken into account when the 2007 General Meeting is convened. > Code provision 1.3.19. The General Meeting should adopt resolutions discharging bodies of management and supervision of liability (approval) separately for each body. Members of management or supervisory bodies should not vote on their own discharge of liability (approval). The recommendation will be implemented when the 2007 Gen- eral Meeting is convened.

The Corporate Governance Code Compliance Statement will be published on the company website: www.lju-airport.si.

Zg. Brnik, 17 April 2007

Janez Čadež Vinko MožePresident of the President of the Supervisory Board Management Board

6.7 FINANČNI KOLEDAR / FINANCIAL CALENDAR

28. februar 28 February

Objava nerevidiranih nekonsolidiranih računovodskih izkazovPublication of unaudited unconsolidated financial statements

konec aprila End of April

Objava povzetka revidiranega letnega poročilaPublication of summary of audited annual report

sredina majaMid-May

Objava vabila za skupščino delničarjevNotice convening general meeting

31. maj31 May

Objava medletnega poročila za prvo trimesečjePublication of interim report for first quarter

konec junijaEnd of June

Skupščina delničarjevGeneral Meeting

31. avgust31 August

Objava povzetka polletnega poročilaPublication of summary of half-year report

septemberSeptember

Izplačilo dividendPayment of dividend

30. november30 November

Objava medletnega poročila za 9-mesečno obdobjePublication of interim report for third quarter


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7. KOMUNICIRANJE Z JAVNOSTMI PUBLIC RELATIONS

V Aerodromu Ljubljana komuniciramo proaktivno, transparentno in prijazno. Naš ugled je zato visok in stabilen. Trudimo se, da je naša komunikacija prilagojena vsaki od interesnih skupin posebej. Za vsako od njih imamo oblikovano komunikaci-jsko strategijo in različna komunikacijska orodja.

Osrednje orodje komunikacije Aerodroma Ljubljana z različnimi javnostmi je splet-na stran www.lju-airport.si, ki je bila za kakovost in odličnost nagrajena s tremi priznanji. Spletno stran smo tudi letos nadgrajevali in jo prilagajali potrebam up-orabnikov.

Leta 2006 smo rahlo prenovili svoj logotip in izdelali priročnik celostne grafične podobe, s čimer smo posodobili in uredili našo zunanjo podobo.

Potniki in uporabniki letališča

Potnikom in obiskovalcem letališča je namenjena revija Aerodrom Ljubljana, ki jo izdajamo dvakrat na leto, in sicer ob spremembi voznega reda. Z revijo komunici-ramo z domačimi in tujimi poslovnimi in turističnimi uporabniki letališča. Služi kot informativno-promocijsko orodje, ki predstavlja ljubljansko letališče in z njim pove-zana področja (težnje) v celoti ter utrjuje usmeritve na področju potovanj z letalom in ponuja prostor za predstavitev vsem, ki ta potovanja ustvarjajo.

Z vprašanji, pohvalami in pritožbami se potniki na družbo lahko obračajo na klicni center, ki deluje 24 ur na dan, prek spletnih strani, svoja mnenja pa lahko podajo tudi v zbiralnike, ki so v ta namen nameščeni po letališču.

Zaposleni

Zaposlene o novostih v družbi seznanjamo z elektronskim biltenom Aerodromske novičke in na oglasnih deskah.

Leta 2006 so bila v sodelovanju s sindikatom družbe organizirana tudi tri srečanja z zaposlenimi, in sicer zimski športni dan, poletne športne igre ter novoletno srečanje za zaposlene in upokojence Aerodroma Ljubljana. Za otroke zaposlenih smo decembra pripravili sprejem dedka Mraza.

Delničarji in finančna javnost

Informacije o preteklem poslovanju, načrtih in druge cenovno občutljive infor-macije redno objavljamo v elektronskem sistemu obveščanja SEOnet in v tiskanih medijih, vse te objave pa so dostopne tudi na naših spletnih straneh v rubriki za vlagatelje.

Tudi letos smo z Letnim poročilom sodelovali v izboru za najboljše letno poročilo, ki ga pripravlja časnik Finance.

Aerodrom Ljubljana employs a pro-active, transparent and cus-tomer-friendly approach to its communications. This has led to a stable and positive reputation. We work hard to ensure that our communications are carefully adapted to each target group. For each of these groups we have formulated a PR strategy incorpo-rating a range of communication tools.

Our basic communications tool for a wide range of target publics is the company website (www.lju-airport.si), which has already won three awards for quality and excellence. The website was updated and expanded this year to more closely match user needs.

In 2006 we also made slight changes to our logo, and produced a corporate identity manual, to modernise and organise our cor-porate image.

Passengers and airport users

The Aerodrom Ljubljana magazine is aimed at passengers and airport visitors, and is issued twice a year, when the timetables change. The magazine’s aim is to communicate with business and tourist airport users, both foreign and domestic. It serves as an information and promotion tool covering Ljubljana Airport and re-lated news and trends, reporting on trends in the aviation and air travel industries and offering promotional space for all those that make air travel possible.

Passengers can get in touch with the company to ask questions, make complaints or offer praise via our call centre, which operates 24 hours a day, or via our website, or can give their opinion using the response forms available at the airport.

Staff

We inform our staff of news via the electronic bulletin Aerodrom-ske novičke and noticeboards.

In 2006 together with the trade union we also organised three social events for employees, comprising a winter sports day, sum-mer sports days and a New Year gathering for current and retired employees of Aerodrom Ljubljana. In December we also organised a meeting with Father Frost for employees’ children.

Shareholders and financial public

We regularly publish information on past performance, plans and other price-sensitive information in the Ljubljana Stock Exchange electronic information system SEOnet and in printed media, and all these notices are also accessible via our website in the section for investors.

This year our annual report was once again in the running for the Best Annual Report award organised by the finance daily Finance.

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V organizaciji Ljubljanske borze vrednostnih papirjev smo se aprila na Dnevu slov-enskega kapitala predstavili domačim, septembra pa tujim vlagateljem na promo-ciji slovenskega kapitalskega trga na Dunaju.

Poslovni partnerji

S starimi in novimi poslovnimi partnerji razvijamo zaupanja vredne in trajnostne odnose. Tudi v letu 2006 smo se z njimi srečali na tradicionalnem decembrskem sprejemu za partnerje Aerodroma Ljubljana. Dobro obiskano srečanje bomo z zado-voljstvom organizirali tudi v prihodnje.

Mediji

Z mediji komuniciramo odkrito in proaktivno. Vse leto smo sami in v sodelovanju s partnerji s področja letalstva in turizma organizirali formalna in neformalna srečanja za domače in tuje medije in njihove predstavnike. Sproti smo jih obveščali o dogajanju na Aerodromu Ljubljana s sporočili za medije, z drugim novinarskim gradivom in informacijami na spletni strani. Redno in vestno smo se odzivali na vsa medijska vprašanja in aktivno sodelovali v intervjujih ter povabilih k izjavam in komentarjem, ne glede na temo poročanja.

Leto 2006 je bilo po medijskih objavah rekordno, saj smo zasledili 6.700 objav, ki so bile posredno ali neposredno povezane z Aerodromom Ljubljana, kar je približno 2.000 več kot leto prej.

In April we participated in the Slovenian Equity Market Day or-ganised by Ljubljana Stock Exchange, and in September we par-ticipated in an event presenting the Slovenian capital market to investors in Vienna.

Business partners

We work hard to develop trustworthy and lasting relations with old and new business partners. In 2006 we again held the tradi-tional December reception for Aerodrom Ljubljana partners. We will be organising more of these popular events in future.

Media

Our communications with the media are pro-active and transpar-ent. Over the entire year we have organised formal and informal events for domestic and foreign media, both on our own and to-gether with partners in the aviation industry. We continually up-dated them on events at Aerodrom Ljubljana via press releases, other press material and website notices. We have responded regularly and conscientiously to all media questions and have cooperated in interviews and invitations to make statements and comments, regardless of the subject.

In 2006 we issued a record number of press releases, reaching a total of 6700 notifications relating directly and or indirectly to Aerodrom Ljubljana, which is around 2000 more than last year.


Premišljena vlaganja, lani smo zanje namenili 2.618 milijonov tolarjev, so stalnica razvojne politike. Well-thought out investments, to which SIT 2,618 million was allocated last year, are a constant of our development policy.

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8. UPRAVLJANJE S TVEGANJI RISK MANAGEMENT

V družbi Aerodrom Ljubljana, d.d., smo upravljanje s tveganji opredelili kot tra-jen proces sistematičnega pristopa k zaznavanju in obvladovanju tveganj pri vseh aktivnostih v družbi, saj se zavedamo, da je s tveganji povezana vsaka dejavnost, vsaka transakcija, vsak posel. Stopnja tveganja pomeni verjetnost, da kljub priza-devanjem ne bomo dosegli zastavljenih ciljev. Zato je nujno, da vsi zaposleni vsak na svojem področju prepoznavajo in obvladujejo tveganja.

8.1 Finančna tveganja

Zaradi zagotavljanja dolgoročno stabilnega poslovanja družbe sproti in temeljito spremljamo in ocenjujemo finančna tveganja. Ukrepi za njihovo prepoznavanje in obvladovanje so vgrajeni v vsa področja našega poslovanja, kar nam omogoča pravočasno zaznavanje in odzivanje na morebitne spremembe. Načeloma jih ocenju-jemo kot majhna, kar po posameznih vrstah tveganj pojasnjujemo v nadaljevanju.

Plačilno-sposobnostno tveganje je zaradi dobrega gospodarjenja z denarnimi sredstvi ocenjeno kot majhno. Obvladujemo ga s sprotnim načrtovanjem denarnih prilivov in odlivov, s čimer zagotavljamo potrebno količino likvidnih sredstev za poravnavanje svojih tekočih obveznosti oziroma za zagotavljanje normalnega po-slovanja kratko- in dolgoročno. Prepričani smo, da tudi obsežna investicijska deja-vnost, ki se je začela leta 2004 in se bo nadaljevala v prihodnjih letih, ob ustreznem načrtovanju denarnih tokov, upravljanju terjatev in obveznosti ter ob premišljeni naložbeni politiki ne bo bistveno povečala tovrstnega tveganja.

V okviru naložbene politike, ki teži k donosnemu nalaganju presežkov denarnih sredstev ob sprejemljivi stopnji tveganja, imamo pomemben del denarnih sredstev naložen pri bankah v obliki depozitov, vezanih za različna časovna obdobja, kar je relativno visoka likvidnostna rezerva družbe.

Dolgoročno in korektno sodelovanje s poslovnimi partnerji prispeva k sorazmerno veliki zanesljivosti načrtovanih prilivov denarnih sredstev, ki izvirajo iz naše po-slovne dejavnosti.

Stalno in neprekinjeno spremljanje razmer v zunanjem okolju, ki vplivajo na naše potrebe po likvidnih sredstvih, nam omogoča pravočasno in pravilno ukrepanje pri zagotavljanju pravočasnega poravnavanja naših obveznosti.

Navsezadnje pa plačilno-sposobnostno tveganje zmanjšujejo tudi ugodne možnosti našega kratkoročnega in dolgoročnega zadolževanja, ki bi jih uporabili ob morebit-nem izpadu posameznega vira financiranja.

Tveganje neizpolnitve nasprotne stranke (kreditno tveganje) znižujemo z aktivnim spremljanjem bonitetnih poročil naših kupcev. Naše poslovne povezave so v glav-nem dolgoročne, kar dodatno prispeva k nizki ravni tveganja. Pri posameznih občasnih kupcih pa uporabimo tudi razne oblike zavarovanja plačil.

Pri manjšem delu naših kupcev, ki se pojavljajo občasno ali celo enkratno oziroma prihajajo iz nezanesljivih poslovnih okolij, zmanjšujemo tveganje neizpolnitve nas-protne stranke z bančnimi garancijami ali predplačili. Tekoče spremljamo terjatve po poslovnih partnerjih in po zapadlosti ter s sprotno izterjavo, zaračunavanjem zamudnih obresti, pisnim opominjanjem in navsezadnje tudi sodno izterjavo zapad-lih terjatev prispevamo k izboljševanju plačilne discipline naših kupcev.

Aerodrom Ljubljana defines risk management as a continual and systematic process to identify and manage risk in all com-pany operations, as we are aware that there are risks associ-ated with every activity and every transaction. The level of risk indicates the probability of failure to achieve set objectives de-spite efforts to do so. It is therefore essential that all employ-ees identify and manage risk in their own fields of operation.

8.1. Financial Risk

In order to ensure the long-term stability of the Company's op-erations, we conduct continuous and thorough monitoring and assessment of financial risk. Risk identification and risk man-agement measures are incorporated into all areas of opera-tion, which allows us to detect and respond to possible changes with due speed. We generally assess them as minor, which we will explain below by individual types of risks.

Liquidity risk was assessed as minor due to the conscientious management of cash assets. We control this risk by continu-ously planning money inflows and outflows, thus ensuring the requisite quantity of liquid assets needed to settle current li-abilities or ensure normal operation in the short term and the long term. We are confident that the extensive investment activity, which began in 2004 and which will continue in the coming years, will not significantly increase this kind of risk given appropriate planning of monetary flows, management of receivables and liabilities and a prudent investment policy.

As part of our investment policy, which is aimed at the profit-able investment of excess cash with an acceptable degree of risk, a significant part of our cash is invested in banks in the form of various time deposits, which constitutes the Company’s comparatively high liquidity reserves.

Our positive long-term cooperation with our business partners contributes to the comparatively high reliability of the planned inflows of cash resulting from our business activity.

The constant and uninterrupted monitoring of the circum-stances in the external environment that affect our require-ments for liquid assets allows us to take timely and appropri-ate action to ensure the timely settlement of our liabilities.

Finally, liquidity risk is also reduced by the favourable possi-bilities of our short-term and long-term borrowing, which we would use in the event of the loss of an individual source of financing.

Credit risk, or the risk of contracting parties failing to settle is reduced by actively monitoring the credit ratings of our customers. Most of our business partnerships are long-term, which further contributes to the lower level of risk. For some occasional customers, we also make use of various forms of collateral.

For a smaller portion of our customers with whom we deal occasionally or even just once, or that operate in unreliable commercial environments, we reduce the risk of default by the

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Tveganje neizpolnitve nasprotne stranke se pojavlja tudi pri poslovanju z dobavi-telji, predvsem na področju investicij. Tako za zavarovanje danih predujmov zahtevamo bančne garancije, za dobro izvedbo pa plačilo dela pogodbene vrednos-ti kot varščino zadržimo do končne primopredaje, s čimer prispevamo h kakovostni izvedbi dogovorjenih investicijskih del.

Kot cenovna tveganja smo opredelili:

a) Obrestno tveganjeTveganje sprememb obrestnih mer na strani sredstev obvladujemo z razprševanjem naloženih prostih denarnih sredstev v razne finančne naložbe z vidika vrst in vidika ročnosti, s čimer zasledujemo maksimalne donose ob dani ravni tveganja.

Na strani obveznosti do virov sredstev obrestnemu tveganju nismo izpostavljeni, saj naše obveznosti do tujih virov niso vezane na spremenljive obrestne mere.

b) Tržno tveganjeTržno tveganje je eno od cenovnih tveganj, povezano z možnostjo spremembe tržnih cen in donosov vrednostnih papirjev oziroma z neugodnimi dogajanji na borznem trgu.

Naša naložbena politika je prvenstveno usmerjena v varne in kakovostne naložbe s pozitivnimi dolgoročnimi donosi. Skrbimo za ustrezno razpršenost, tudi tako, da del naših vrednostnih papirjev upravljajo banke. S špekulativnim trgovanjem, katerega namen bi bil izključno dosegati kratkoročne donose, se ne ukvarjamo. Glede na navedeno menimo, da ustrezno obvladujemo tržno tveganje in za zdaj ne potrebujemo dodatnih inštrumentov, s katerimi bi se pred njim varovali.

c) Valutno tveganjeTveganje spremembe vrednosti domače valute je zaradi vstopa Slovenije v Evrop-sko unijo in vstopanja v evropsko monetarno unijo ocenjeno kot majhno. Na mak-roekonomskem področju z gotovostjo pričakujemo nadaljevanje prizadevanj za zniževanje inflacije, dodatno pa se bo valutno tveganje po 1. 1. 2007 še zmanjšalo s prevzemom evra kot domačega plačilnega sredstva.

Pretežni del terjatve in obveznosti do tujine imamo že sedaj nominirane v tej valuti, pa tudi del finančnih plasmajev je vezan na evro. Zaradi velike stabilnosti evra ocenjujemo, da ne potrebujemo dodatnih inštrumentov za varovanje pred valutnim tveganjem.

counterparty by requiring bank guarantees or advance pay-ments. We continuously monitor receivables by business part-ner and by maturity, and through immediate collection, charg-ing late payment interest, written reminders and ultimately also through court-ordered collection of due receivables, we contribute to improving the payment discipline of our custom-ers.

Credit risk also arises in business with suppliers, especially in the area of investments. In order to protect issued advances we therefore require bank guarantees, while payment of a por-tion of the contractual price is retained until final handover as a performance guarantee, to ensure high-quality execution of contracted capital works.

The following were defined as price risks:

a) Interest rate riskWe manage the risk of changes in interest rates on the assets side by diversifying the invested free cash into financial investments which vary in terms of type and maturity, thus pursuing the maxi-mum returns at a given level of risk.

On the liability side, we are not exposed to interest rate risk as our liabilities to foreign sources are not tied to variable interest rates.

b) Market riskMarket risk is a price risk linked to the possibility of changes in market prices and in the returns from securities, or to unfavour-able events on the stock market.

Our investment policy focuses on secure and quality investments with positive long-term returns. We also ensure adequate diversi-fication by having banks manage part of our securities. We do not engage in speculative trading the sole purpose of which would be to achieve short-term returns. In view of the above, we believe that we are managing market risk adequately and that at present we do not require additional instruments to protect us against it.

c) Exchange rate riskOwing to Slovenia’s entry into the European Union and the Eu-ropean Monetary Union, the risk of changes in the value of the domestic currency has been assessed as low. On the macroeco-nomic front, we can expect, with considerable certainty, continued efforts to reduce inflation, with exchange rate risk being reduced further from 1 January 2007 due to the adoption of the euro as official tender in Slovenia.

Our foreign receivables and liabilities are primarily denominated in euros, and some of our investments are also linked to the euro. As a result of the high stability of the euro, our assessment is that we do not need additional instruments for protection against currency risk.


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8.2 Poslovna tveganja

Kot najpomembnejša poslovna tveganja poudarjamo tveganja v povezavi z varnostjo (od katerih je najpomembnejše tveganje terorističnih dejanj), tveganja, povezana z možnostjo požara ali ekološke nesreče ter tveganja, povezana z nedelovanjem infor-macijskega sistema. Njihovo sprotno spremljanje in analiziranje nam omogoča tekoče vgrajevanje ustreznih ukrepov v naše vsakodnevno delovanje, s čimer tovrstna tveg-anja ohranjamo na sprejemljivi ravni.

Varnost

Med varnostnimi tveganji po pomembnosti izstopa terorizem, ki se v letalstvu po-javlja že kar nekaj časa in lahko rečemo, da ga je do neke mere zaznamoval. Že od nekdaj moramo letališča velik del svojega poslovanja prilagoditi strogim varnost-nim zahtevam in ukrepom, ki v veliki meri temeljijo na lastnih izkušnjah.

V naši družbi varnostna tveganja obvladujemo s temeljitimi predpripravami, do-brim načrtovanjem, organiziranostjo ter sodelovanjem z drugimi institucijami. Tako smo izdelali lastno oceno ogroženosti, v kateri smo definirali potencialne grožnje in potrebne ukrepe za zmanjšanje oziroma odpravo teh. Omenjena ocena je bila podlaga za načrt obvladovanja izrednih varnostnih dogodkov z več kot trideset predvidenimi možnimi scenariji, s katerim si pomagamo ob morebitnih izrednih dogodkih.

Zavedamo se, da kljub temeljitemu načrtovanju ne moremo predvideti vsega, zato že z osnovnimi preventivnimi ukrepi poskušamo preprečiti nastanek izrednih do-godkov. Pri tem je ključnega pomena pravilno ravnanje zaposlenih v izrednih situ-acijah, zato veliko pozornost namenjamo njihovemu sprotnemu izobraževanju in usposabljanju. Ker pa so preventivni in dodatni varnostni ukrepi velikokrat pogoje-ni tudi z nacionalno ogroženostjo, se povezujemo z ustreznimi nacionalnimi organi, saj imajo varnostne ocene, ki jih izdelajo pristojne državne službe, neposreden vpliv tako na obseg kot intenzivnost varnostnih ukrepov na našem letališču.

Požarna varnost, pripravljenost na ekološke nesreče in ustrezno ravnanje z nevarnimi snovmi

Potencialna nevarnost požara ali ekološke nesreče (razlitja letalskega ter drugih goriv, maziv in olj) je zaradi narave naše dejavnosti razmeroma velika, česar se za-vedamo in zato dosledno izpolnjujemo zakonske zahteve, ki urejajo to področje.

Zaposlujemo trideset usposobljenih poklicnih gasilcev, s katerimi zagotavljamo 24-urno dežurstvo. Njihovo znanje sproti dopolnjujemo z eksternimi in internimi izobraževanji. Razpolagamo s potrebno gasilsko opremo ter opremo za primer razlitja, opremo za tesnjenje cevi in odtokov ter sredstvi za biološko razgradnjo razlitih snovi. Tako zbrane odpadne snovi razlitih ogljikovodikov predamo pogod-benemu partnerju, ki zagotavlja okolju prijazno ravnanje z njimi.

Posebno skrb posvečamo tudi splošni ozaveščenosti zaposlenih s področja požarne varnosti, kar med drugim zagotavljamo tudi s tečaji požarne varnosti.

8.2. Business Risk

We have pinpointed the major business risks as being those re-lated to security (of which the major risk is from terrorist action), risks associated with fire or environmental catastrophe, and risks associated with the failures the information technology system. Continuous monitoring and analysis of these risks allows us to keep incorporating appropriate measures into our everyday oper-ations, and in this way we keep these risks on an acceptable level.

Security

In terms of importance, the outstanding security risk is from ter-rorism, something that has been apparent in aviation for some time now, and that one might say has even characterised the in-dustry. For considerable time airports have had to adapt a large proportion of their operations to stringent security demands and measures, which to a great extent are based directly on experi-ence.

In this Company security risk is managed through thorough ad-vance preparation, good planning and organisation, and through cooperation with other institutions. We have produced our own assessment of threat, in which we defined potential threats and the necessary measures to reduce or eliminate such threats. This assessment formed the basis for the management plan for emer-gency security situations, with more than thirty possible scenar-ios envisaged, which means we will be well-equipped to face any emergency.

We realise, however, that despite thorough planning we cannot foresee everything, so through basic preventive measures we at-tempt to prevent emergency situations arising. A key part in this is played by the correct actions of employees in emergencies, so great attention is paid to their continuous education and training. Since preventive and additional security measures are frequently determined by national threat, we liaise with the relevant national authorities, since the security assessments produced by the com-petent state services have a direct influence both on the extent and intensity of security measures at Ljubljana Airport.

Fire safety, preparation for environmental catastrophe and appropriate handling of hazardous substances

Given the nature of our activity, the potential danger of fire or environmental catastrophe (spills of aircraft and other fuel, lu-bricant and oil) is relatively high. We are well aware of this and therefore consistently fulfil the legal requirements governing this area.

We employ 30 qualified, professional firefighters who provide 24-hour cover. Their skills are continuously enhanced through exter-nal and internal training. We possess all the necessary firefight-ing equipment, plus equipment for spills, for sealing pipes and outflows and biodegrading agents for spilled substances. Waste substances collected from hydrocarbon spills are handed over to

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Pri našem delovanju smo izpostavljeni tudi tveganju neustreznega ravnanja z nevarnimi snovmi, ki se prevažajo v letalskem tovornem prometu. To tveganje obvladujemo z doslednim izpolnjevanjem s tem povezane zakonodaje kot tudi z izobraževanjem zaposlenih, ki delajo na teh področjih, ter s sprotnim preverjanjem njihovega znanja o ravnanju z nevarnimi snovmi.

Tveganja, povezana z informacijskim sistemom

V naši družbi vse več pozornosti namenjamo področju obvladovanja tveganj infor-macijskega sistema, med katera uvrščamo tveganja motenj oziroma prekinitve de-lovanja strojne opreme, lokalnega omrežja, komunikacijskih povezav ter sistemske in aplikativne programske opreme. Posebno pozornost posvečamo tudi tveganjem, povezanim z neprekinjenim poslovanjem in z varnostjo informacijskega sistema.

Opisana tveganja obvladujemo s postopnim uvajanjem informacijske podpore v poslovanje družbe ter z načrtovanim razvojem in rednim vzdrževanjem strojne in programske opreme, lokalnega omrežja in komunikacijskih povezav. Priprav-ljene imamo ukrepe za vnovično vzpostavitev delovanja informacijskega sistema, načrtujemo postopke neprekinjenega poslovanja ter ustrezno usposabljamo zapo-slene. Za primer pojava motenj oziroma prekinitev informacijskega sistema zago-tavljamo 24-urno pripravljenost informatikov, kar nam omogoča takojšnje ukrepan-je v smeri odprave vzrokov za morebitne težave.

our contractual partner, who ensures environmentally friendly handling of them.

We also devote special attention to raising the general awareness of employees regarding fire safety, and we do this partly through fire safety courses.

In our operations we are also exposed to the risk of inappropri-ate handling of hazardous substances being transported by air. We manage this risk through consistent adherence to the relevant legislation and also through education of employees working in this area, as well as through continuous verification of their knowledge regarding the handling of hazardous substances.

Risks associated with the IT system

Our company is devoting increasing attention to managing infor-mation system risk, which includes the risks of disturbances or interruptions to the functioning of hardware, the local network, communication links and also systems and application software. We also devote special attention to the risks associated with the uninterrupted operation and security of the IT system.

We manage these risks through the gradual introduction of IT support into the Company’s operations and through the planned development and regular maintenance of hardware and software, the local network and communication links. We have measures prepared for restarting the IT system, we are planning contingen-cies for uninterrupted operation and providing appropriate staff training. IT technicians are on call 24-hours-a-day to respond to disturbances or interruption to the IT system, which allows us to take immediate action to eliminate any problems.


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Osrednji strateški cilji družbe za obdobje do leta 2015 glede obsega prometa so:

> povečanje števila potnikov na 2,2 milijona;> povečanje obsega prepeljanega tovora na 23,3 tisoč ton;> povečanje števila premikov letal na 57 tisoč.

Za uresničitev navedenih ciljev je ključnega pomena ohranitev položaja obstoječih in pridobitev novih prevoznikov. Z vidika rasti tovornega prometa pa je bistvenega pomena načrtovanje vzpostavitve tovorne linije za blago s srednjega vzhoda ter postavitev vozlišča za družbo UPS, ki je ena večjih svetovnih družb za ekspresno mednarodno dostavo pošiljk.

Največja in najpomembnejša investicija v tem obdobju je dograditev in prenova obstoječega terminala ter izgradnja novega terminala s kapaciteto 2,5 milijona potnikov na leto, ki bo zgrajen do leta 2010.

9. STRATEŠKE USMERITVE STRATEGIC ORIENTATION

The company's main strategic goals for the period up to 2015 in terms of traffic volume are:

> to increase the number of passengers to 2.2 million, > to increase the volume of transported cargo to 23.3 thousand tonnes, and > to increase the number of aircraft movements to 57 thousand.

Of key importance for the realisation of the above goals is to re-tain existing and attract new carriers. In order to achieve growth in cargo transport, it is essential to plan the introduction of a freight route from Central and Eastern Europe and the establish-ment of a UPS hub.

The largest and most important investment that had bearing dur-ing this period is the extension and reconstruction of the existing terminal, and the construction of a new terminal with a capacity of 2.5 million passengers per year, which will be completed in 2010.

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Promet

V letu 2007 se težnja rasti prometa na letališču nadaljuje, in sicer načrtujemo:

> sprejem in odpravo 1.448.868 potnikov, kar predstavlja 9-odstotno rast v primerjavi z letom 2006;> 45.774 premikov letal oziroma 12-odstotno povečanje v primerjavi z letom 2006;> 16.830 ton tovora, kar prestavlja povečanje za 10 odstotkov v primerjavi z letom 2006.

Velik delež rasti premikov letal gre na račun načrtovanega povečanega števila premikov v tovornem prometu, ki ga prinaša projekt vzpostavitve baze za pre-voznike hitre pošte UPS na našem letališču.

Poslovni izid

Rasti fizičnega obsega prometa bodo sledili tudi načrtovani poslovni prihodki in stroški poslovanja. Zaradi obsežne investicijske dejavnosti pa bodo neto prihodki iz financiranja nižji kot v preteklem letu, tako da v letu 2007 načrtujemo čisti dobiček v višini 9,6 milijona evrov (2.303 milijonov tolarjev), kar je za 9 odstotkov več kot v letu 2006.

Investicije

Načrt investicij v objekte in opremo za leto 2007 v skupni višini 28,4 milijona ev-rov (6.810 milijonov tolarjev) predstavlja nadaljevanje vlaganj v razvoj letališča, ki je začrtan v strategiji razvoja družbe ter sledi veljavnim prostorsko-izvedbenim aktom.

Načrtovane investicije v objekte, zemljišča, računalniško opremo in opremo za potrebe dejavnosti bodo zagotovile:

> prilagoditev letališke infrastrukture schengenskim standardom državne meje;> zadostne kapacitete letaliških objektov za oskrbo potnikov, tovora in letal in> razvoj poslovno-logistične cone.

Volume of traffic

In 2007, the upward trend in airport traffic will continue. We are planning:

> 1,448,868 passenger arrivals and departures, representing 9% growth in comparison with 2006; > 45,774 aircraft movements, accounting for a 12% increase compared to 2006; and > 16,830 tonnes of cargo, which is 10% up compared to 2006.

A large share of the growth in aircraft movements is accounted for by the planned increase in the number of cargo aircraft move-ments resulting from the establishment of a base for the UPS ex-press post carrier at our airport.

Operating result

The planned operating revenues and expenses will result from growth in the volume of traffic. Due to large investments, net income from investments will be lower as compared to the previ-ous year. Thus, a net profit of EUR 9.6 million (SIT 2,303 million) is planned for 2007, which is a 9% increase over 2006.

Investments

The 2007 plan of investments in buildings and equipment totalling EUR 28.4 million (SIT 6,810 million) includes further investment in airport development as outlined in the company’s development strategy, complying with the valid planning act.

The planned investments in buildings, land, computer equip-ment and airport equipment will enable:

> compliance of airport infrastructure with the Schengen border standards, > sufficient capacity of airport facilities to service passengers, cargo and aircraft, and > development of the business and logistics zone.

10. NAČRTI ZA LETO 2007 PLANS FOR 2007

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Najpomembnejša in najobsežnejša naloga je dokončanje izgradnje I. faze nove-ga potniškega terminala in obnova obstoječega terminala v skupni izmeri 5.972 kvadratnih metrov, ki bo zagotovila ločitev potnikov, ki potujejo na linijah znotraj schengenskega območja, od tistih, ki potujejo na mednarodnih letih, kar je pogoj za uvedbo schengenskega mejnega prehoda. Nadaljevali bomo s pripravami na grad-njo II. faze, to je glavnega dela novega potniškega terminala, ki bo imel 33.000 kvadratnih metrov površin in naj bi bil zgrajen v letih 2008 in 2009. Pred pričetkom gradnje II. faze moramo zgraditi novo nivojsko parkirišče za 1.000 vozil, ki bo reševalo tudi problem parkiranja vozil rent-a-car. Lokacija je predvidena na severni strani obstoječe glavne ceste v novi poslovno-logistični coni.

V sklopu manevrskih površin bomo podaljšali vozno stezo A do praga 31 v dolžini 1.500 m za dostop letal do vzletno-pristajalne steze. S tem bomo podvojili ka-paciteto obstoječe steze, kar je zlasti pomembno v koničnih obratovalnih urah. Olajšano bo delo kontrolorjev letenja in povečana varnost letalskega prometa. Zaradi začasnega zmanjšanja obstoječe letališke ploščadi ob gradnji novega potniškega terminala in izrednega povečanja prometa pri predsedovanju Slovenije Evropski uniji in tudi sicer je potrebno razširiti letališko ploščad z novimi 40.000 kvadratnimi metri, pretočnost pa bomo izboljšali z izgradnjo povezovalne spojnice do vozne steze A.

Izredna rast tovornega prometa zahteva povečanje kapacitete skladišč, zato bomo v letu 2007 izdelali projektno dokumentacijo za novo avio-blagovno skladišče v velikosti 7.000 kvadratnih metrov, ki naj bi ga zgradili leta 2008.

The largest and most important investment is the completion of the first phase of construction of the new passenger terminal, and the reconstruction of the existing terminal, a project involving fa-cilities with a total surface area of 5,972m2 which will ensure the separation of passengers travelling within the Schengen area from those travelling on international flights. This is one of the condi-tions for establishing Schengen-compliant border crossing points. We will press forward with preparations for the second phase of construction, which is the main section of the new passenger ter-minal, which will cover 33,000m2 and will be constructed in 2008 and 2009. Before the start of the second phase of construction a new multi-storey car park with capacity for 1000 cars should be constructed, which will also solve the rent-a-car parking issue. The planned location is to the north of the existing main road in the new business-logistics zone.

The plans for the manoeuvring areas include extending Taxiway A towards Threshold 31 with a length of 1500m, for aircraft access to the runway. This will double the capacity of the existing taxiway, which is essential for peak operating times. It will make the work of air traffic controllers easier, and increase air traffic safety. Due to the temporary reduction in the existing aircraft apron given the construction of the new terminal, and the exceptional increase in traffic during Slovenia’s EU presidency, the aircraft apron will have to be extended by 40,000m2, while traffic flow on the ground will be improved by a connector taxiway to Taxiway A.

The exceptional growth in cargo transport demands increased warehousing capacity, so in 2007 we will produce project docu-mentation for a new 7000m2 air cargo warehouse, which is planned for completion in 2008.


Za zadovoljstvo potnikov in kakovost storitev skrbi 372 redno zaposlenih delavcev. Tudi pri zaposlitvah rastemo.The passengers’ satisfaction and the quality of services are provided by 372 full-time employees. Our number of staff is also increasing.

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Gospodarske dosežke v letu 2006 je zaznamovala visoka konjunktura pri gospo-darskih partnerjih in velike spremembe cen surovin. Prišlo je do opazne pospešitve rasti v Sloveniji in Evropski skupnosti, rasti vlaganja v investicije, sicer pa so se nadaljevale težnje gospodarskih aktivnosti iz leta 2005.

V prvih devetih mesecih leta 2006 se je bruto domači proizvod (BDP) v primerjavi z enakim obdobjem leta 2005 realno povečal za 5,2 odstotka.

Rast cen, merjena s harmoniziranim indeksom cen življenjskih potrebščin, je bila prav tako pozitivna (0,4 odstotka), kar pa ni posebej vplivalo na 12-mesečno in-flacijo, merjeno z "EMU konvergenčnim indeksom cen", ki tako ostaja nespremen-jena na ravni 2,5 odstotka.

Povprečna bruto plača zaposlenega v Sloveniji je bila v letu 2006 realno za 2,2 odstotka višja kot v letu 2005, medtem ko je povprečna neto plača v istem obdobju realno porasla za 2,5 odstotka. Da so neto plače nekoliko bolj porasle, pripisujemo novemu dohodninskemu zakonu, ki je začel veljati 1. 1. 2007 in po katerem so bile decembrske plače izplačane v januarju 2007 po novi dohodninski lestvici z nižjimi davčnimi stopnjami.

Čeprav naraščanja produktivnosti dela v Sloveniji ne prehiteva opazno naraščanje produktivnosti v Evropski uniji, pa rast enotnih stroškov dela po koncu leta 2004 vse bolj prehiteva rast enotnih stroškov dela v evro območju, ki se je povečala na 3 odstotke letno, 2 odstotka pri (proizvodnih) storitvah. V enem samem letu bi takšno prehitevanje enotnih stroškov dela popolnoma nevtraliziralo celotne učinke ukinitve davka na izplačane plače na stroške v gospodarstvu.

Po veliki pospešitvi cen surovin – za več kot 30 odstotkov na začetku 2006 – so se v drugem delu leta cene surovin opazno umirjale, še zlasti pri nafti, kjer so bile konec leta cene že nižje kot konec leta 2005.

Slovensko gospodarsko okolje v letu 2006 je zaznamovalo tudi ugodno dogajanje na Ljubljanski borzi, kjer je bil celoletni promet za kar 72 odstotkov večji od prome-ta v letu 2005. Vsi borzni indeksi, z izjemo indeksa obveznic, so v letu 2006 dosegli svoje rekordne vrednosti. SBI20 je v enoletnem obdobju pridobil 37,9 odstotka svo-je vrednosti. Aprila 2006 se je slednjemu pridružil indeks blue-chip delnic, imeno-van SBITOP, ki je v devetih mesecih pridobil 49,6 odstotka in je vse mesece končal s pozitivnim predznakom. Celotna tržna kapitalizacija delnic na borzi se je v letu 2006 povečala za 72 odstotkov. Povečanje je posledica rasti cen delnic, vključitev Telekoma Slovenije v borzno kotacijo ter dokapitalizaciji Merkurja in Mercatorja.

The economic performance of 2006 was marked by a positive busi-ness cycle that was also experienced by business partners, and by large changes in raw material prices. There was a noticeable up-turn in growth in Slovenia and the European Union in general, and a growth in investment, while other economic trends from 2005 persisted.

Real growth in GDP for the first nine months of 2006 was 5.2%, compared to the same period in 2005.

The growth in prices, measured using the harmonised consumer price index, was also positive (0.4%), which did not have a sig-nificant impact on the year-on-year inflation rate, measured using the EMU convergence price index, which remained unchanged at 2.5%.

Average gross wages in Slovenia in 2006 were 2.2% higher in real terms than in 2005, while average net wages grew in the same period by 2.5%. The reason net pay grew somewhat more is due to the new income tax act. This entered into force on 1 January 2007, but December wages paid in January 2007 were calculated using the new income tax brackets, with lower tax rates.

Although the growth in labour productivity in Slovenia is not catching up with overall EU growth in productivity, the growth in unit labour cost since 2004 has increasingly been catching up to the eurozone level, rising to 3% per year, and 2% for services. In just one year the catch up in unit labour costs could completely neutralise the overall impact on economic costs of the abolition of payroll tax.

After considerable acceleration in the price of raw materials – up by over 30% at the start of 2006 – in the second half of the year they calmed significantly, particularly oil prices, which were lower at the end of 2006 than they had been at the beginning.

The Slovenian business climate in 2006 also saw positive move-ments on the Ljubljana Stock Exchange, where annual turnover was 72% higher than in 2005. Every stock market index, except the bonds index, achieved its highest ever value in 2006. The SBI20 index grew by 37.9% over the year. In April 2006 this was joined by the blue-chip share index SBITOP, which gained 49.6% in nine months, also recording positive growth each month. In 2006, the total market capitalisation of shares listed on the stock exchange grew by 72%. The increase is due largely to increased share prices, including Telekom Slovenije listing its shares on the market, and capital increases carried out by Merkur and Merca-tor.

1. SPLOŠNE GOSPODARSKE RAZMERE GENERAL ECONOMIC CONDITIONS

II. Poslovno poročilo / Business report

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2. TRŽENJE IN TRŽNI POLOŽAJ DRUŽBE MARKETING AND MARKET POSITION OF THE COMPANY

Cilj trženja, ki je vodil naše aktivnosti tudi v letu 2006, je bil doseči čim večje pri-hodke iz vseh dejavnosti poslovanja podjetja – letaliških storitev, storitev zemeljske oskrbe in komercialnih storitev.

Letališče Ljubljana posluje na konkurenčno intenzivnem trgu, v območju zračne razdalje 250 kilometrov delujejo namreč kar štiri večja mednarodna letališča, ki našim ciljnim uporabnikom storitev prav tako ponujajo zanimive in cenovno konkurenčne povezave ter ostale spremljajoče storitve. V pestrosti konkurenčne ponudbe in dinamičnosti trga je zato potrebno poiskati tržni položaj, ki uspe čim bolj pritegniti ciljne uporabnike in zadovoljiti njihove potrebe ter na ta način doseči zastavljene cilje.

Aktivnosti na področju trženja so nadaljevale aktivnosti, začete v preteklih letih, in hkrati začenjale nove, ki so jih zahtevale spremenjene razmere in usmeritve na trgu. Velik del aktivnosti je bil usmerjen v pridobivanje novih prevoznikov, s kate-rimi bi vzpostavili letalske povezave z našimi ciljnimi trgi, kot so Skandinavija, Ve-lika Britanija, Nemčija, Španija, Italija, Rusija in Ukrajina, pri čemer smo posebno pozornost namenili pridobivanju nizkostroškovnih prevoznikov. Prav tako smo nadaljevali z intenzivnim trženjem na področju tovornega prometa, kjer je imelo ljubljansko letališče s svojimi konkurenčnimi prednostmi še neizkoriščene zmoglji-vosti. Aktivnosti so bile tako usmerjene v vzpostavitev ljubljanskega letališča kot tovornega centra za srednjo in jugovzhodno Evropo ter Bližnji in Daljni vzhod. V letu 2006 smo začeli tudi intenzivneje tržiti komercialne dejavnosti, predvsem storitve oglaševanja in parkirna mesta.

Cenovna politika kot del trženjskega spleta je bolj pogojena z izpolnjevanjem pred-pisov Evropske unije, ki pomeni zasledovanje načel nediskriminatornosti med part-nerji, transparentnosti cen in povezanosti cen s stroški. Skladno z upoštevanjem teh predpisov smo se s cenovno politiko podjetja skušali hkrati prilagoditi tudi spre-menjenim razmeram na trgu.

Prodajne poti se uspešno širijo. Poleg izvajanja trženja, usmerjenega neposredno na letalske prevoznike, so naše aktivnosti usmerjene tudi v povezovanje z drugimi akterji turizma in potniki samimi. Da bi pridobili čim večje število potnikov iz zame-jstva v Italiji, smo še naprej sodelovali pri projektu turistične poslovalnice v Trstu, ki se ji je v preteklem letu pridružila še poslovalnica v Vidmu, obe pa uspešno tržita produkte slovenskih organizatorjev potovanj z ljubljanskega letališča. Na omenje-nih trgih in na trgu avstrijske Koroške smo aktivni tudi s tržnim komuniciranjem prek lokalnih medijev.

The marketing objective that directed our 2006 efforts was to achieve the highest possible revenues from all of the company’s business activities, i.e. from airport services, groundhandling ser-vices and commercial services.

Ljubljana Airport operates in a fiercely competitive market, with four larger international airports operating within a 250-km ra-dius, which are able to offer our key service users interesting and competitively priced connections, as well as all the usual ancillary services. The wealth of competition and dynamism of the market mean that Aerodrom Ljubljana has to seek a market position from which it can attract as many key users as possible, satisfying their needs in order to achieve its own set objectives.

Marketing activities saw the continuation of work and projects from past years, and the start of new activities in response to changing market conditions and trends. Much of the work was targeted towards acquiring new carriers to set up air connections with our target markets, including the Nordic States, the United Kingdom, Germany, Spain, Italy, Russia and Ukraine, with special focus on attracting low-cost air carriers. Intense marketing work was continued in the cargo sector, where – given its competitive advantages – Ljubljana Airport has yet unutilised capacity. Mar-keting was directed towards establishing Ljubljana Airport as a cargo centre for central and south-eastern Europe, and the Middle East and Far East. In 2006 there was also increased marketing of commercial activities, primarily advertising services and car parking.

The pricing policy, as part of the marketing network, is increas-ingly dependent on compliance with European Union regulations, which means pursing the principle of non-discrimination between partners, price transparency, and linking prices to costs. In ad-dition to compliance with these regulations, we have attempted to adjust our pricing policy to keep in step with changing market conditions.

Our sales routes are successfully expanding, and in addition to marketing aimed directly at air carriers, we have also targeted link-ups with other tourist operators and with passengers them-selves. In order to attract as many passengers as possible from the purpose of acquiring customers from the ethnic Slovenian community over the border in Italy, we participated in a project with a tourist agency in Trieste, which was extended to include an agency in Udine, both of which successfully market projects with Slovenian-guided tours that depart from Ljubljana Airport. We have been involved in marketing communication work via local media on these markets and in the Austrian province of Carinthia, which also has an indigenous Slovenian community.


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3. PROMET VOLUME OF TRAFFIC

The year 2006 set a record for the number of passengers and vol-ume of cargo transported, as well as the number of aircraft move-ments. The airport served 1,334,355 passengers, which is 10% more than in 2005, exceeding the plan by 4%. There were 40,991 aircraft movements at the airport, which is 9% up compared to 2005, or 2% above the planned figure. Cargo traffic saw the high-est increase, which was up 32%, exceeding the plan by 27%.

Leto 2006 je bilo rekordno po številu prepeljanih potnikov in količine tovora ter po številu opravljenih premikov letal. Leta 2006 je prek letališča potovalo 1.334.355 potnikov, kar je za 10 odstotkov več kot leta 2005, načrt pa smo presegli za 4 odstotke. Na letališču je bilo opravljenih 40.991 premikov letal, kar je za 9 odstot-kov več kot v letu 2005 oziroma 2 odstotka več od načrta. Najbolj se je povečal tovorni promet, ki je porasel za 32 odstotkov, načrt smo presegli za 27 odstotkov.

Pri izvajanju trženja smo tesno sodelovali tudi z gospodarskim interesnim združenjem SPOT, ki želi organizirati številčnejši prihod tujih letalskih gostov v Slo-venijo. Pri izvajanju trženja na za slovenski turizem ciljnih trgih moramo omeniti tudi zelo učinkovito in uspešno sodelovanje s Slovensko turistično organizacijo. Vsa prizadevanja so nam v letu 2006 prinesla lepe rezultate, kot so začetek letenja turškega prevoznika Turkish Airlines na liniji Ljubljana–Istanbul, nizkostroškovnega prevoznika Wizz Air na linijah Ljubljana–Bruselj (Charleroi) in London (Luton), vz-postavitev tovornega centra za srednjo in jugovzhodno Evropo podjetja UPS, sklen-jen dogovor o uvedbi redne letalske povezave na liniji Ljubljana–Helsinki s pre-voznikom Finnair v aprilu 2007, uvedba novih letalskih povezav na linijah Barcelona, Rim, Kijev in Tirana s prevoznikom Adria Airways in številni drugi uspešno izvedeni projekti.

We closely collaborated in our marketing activities with the eco-nomic interest consortium SPOT, the stated aim of which is to in-crease the number of foreign visitors by air to Slovenia. We also work closely and successfully with the Slovenian Tourist Board in marketing on the target markets of the Slovenian tourist indus-try.

Our work produced excellent results in 2006, with the start of flights by the carrier Turkish Airlines on the Ljubljana–Istanbul route, the low-cost carrier Wizz Air on the Ljubljana-Brussels (Charleroi) and Ljubljana-London (Luton), the package delivery company UPS setting up a cargo centre for central and south-east Europe, as well as an agreement with Finnair to introduce sched-uled flights between Ljubljana and Helsinki from April 2007, the introduction of new air connections with Barcelona, Roma, Kiev and Tirana with the Slovenian carrier Adria Airways and numerous other successful projects.

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FIZIČNI OBSEG PROMETA NA AERODROMU LJUBLJANA / VOLUME OF TRAFFIC AT LJUBLJANA AIRPORT

Elementi / Element Realizacija / Realised Načrt/Planned Indeks/Index Deleži/Proportion

1. - 12.2006 1. -12.2005 2006 2006/2005 Re./N. 2006 2005 N 2006

1. PREMIKI LETAL AIRCRAFT MOVEMENTS 40.991 37.767 40.192 108,5 102,0 100 100 100

1.1.JAVNI PROMETPUBLIC TRAFFIC

29.052 25.980 26.571 111,8 109,3 71 69 66

1.1.1.Domači prevoznikiDomestic carriers

20.664 19.526 19.242 105,8 107,4 50 52 48

1.1.2.Tuji prevoznikiForeign carriers

8.388 6.454 7.32 130,0 114,4 20 17 18

1.2.SPLOŠNO LETALSTVO GENERAL AVIATION

10.970 10.970 12.621 100,0 86,9 27 29 31

1.2.1.DomačiDomestic

9.263 9.363 11.016 98,9 84,1 23 25 27

1.2.2.TujiForeign

1.707 1.607 1.605 106,2 106,4 4 4 4

1.3.OSTALIOTHER

969 817 1.000 118,6 96,9 2 2 2

2. ŠTEVILO POTNIKOVNO OF PASSENGERS 1.334.355 1.218.896 1.280.019 109,5 104,2 100 100 100

2.1.JAVNI PROMETPUBLIC TRAFFIC

1.328.068 1.212.022 1.272.639 109,6 104,4 100 99 99

2.1.1.Domači prevoznikiDomestic carriers

944.482 852.701 847.139 110,8 111,5 71 70 66

2.1.2.Tuji prevoznikiForeign carriers

383.586 359.321 425.500 106,8 90,1 29 29 33

2.2.SPLOŠNO LETALSTVO GENERAL AVIATION

5.942 6.105 6.680 97,3 89,0 0 1 1

2.2.1.DomačiDomestic

2.838 2.957 3.623 96,0 78,3 0 0 0

2.2.2.TujiForeign

3.104 3.148 3.057 98,6 101,5 0 0 0

2.3.OSTALIOTHER

345 769 700 44,9 0,0 0 0 0

3. TOVORNI PROMETCARGO 15.309 11.561 12.052 132,4 127,0 100 100 100

3.1.LetaloAir

8.059 5.245 5.453 153,7 147,8 53 45 45

3.2.KamionRoad

6.408 5.430 5.502 118,0 116,5 42 47 46

3.3.PoštaPostal

747 806 927 92,7 80,6 5 7 8

3.4.OstaloOther

95 80 170 118,8 55,9 1 1 1


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Potniški promet

Število potnikov je naraščalo vse leto 2006. Najbolj prometni meseci so bili od maja do oktobra, ko je bilo vsak mesec prek letališča prepeljanih čez 100.000 potnikov. Največ potnikov, kar 169 tisoč, smo zabeležili v avgustu. Redne polete je opravl-jalo deset letalskih prevoznikov, ki je ljubljansko letališče povezovalo s tridesetimi evropskimi letališči. Ljubljansko letališče je, v skladu s spodbujanjem razvoja lo-kalnega vozlišča za Balkan, v letu 2006 povečalo svojo vlogo tudi kot transferno letališče. Tako se je število transfernih potnikov povečalo za 27 odstotkov in je predstavljalo 13 odstotkov vsega prometa prek letališča.

Največ potnikov je prek našega letališča v letu 2006 potovalo z Adrio Airways, in sicer 944.482 oziroma 11 odstotkov več kot v letu prej. Rast je temeljila predvsem na povečanju prometa na rednih linijah, medtem ko je čarterski promet ostal enak kot leta 2005. Če pogledamo strukturo opravljenega prometa Adrie Airways, ugo-tovimo, da je opravila 93 odstotkov letov na rednih linijah in na njih prepeljala 85 odstotkov potnikov. Delež prometa na čarterskih letih znaša 7 odstotkov pri premikih letal oziroma 15 odstotkov pri številu potnikov. Delež potnikov Adrie Air-ways je v letu 2006 znašal 71 odstotkov vseh potnikov na ljubljanskem letališču (leto prej 70 odstotkov), delež premikov letal Adrie Airways pa je znašal 73 odstot-kov vseh premikov letal, kar je bilo enako kot leto prej.

Nizkostroškovni letalski prevoznik easyJet je v London v letu 2006 prepeljal 88.643 potnikov, kar je za 3 odstotke manj kot leto prej.

Z letošnjim majem je na liniji Ljubljana–Bruselj (Charleroi) in Ljubljana–London (Luton) začel leteti nizkostroškovni prevoznik WizzAir. Na liniji med Ljubljano in Brusljem je prepeljal 24.500 potnikov, na liniji za London pa 27.434 potnikov.

Skupaj predstavlja opravljeni promet obeh nizkostroškovnih prevoznikov 12 odstotkov vsega prometa prek letališča Ljubljana.

Madžarski prevoznik Malév je na liniji med Budimpešto in Ljubljano v letu 2006 prepeljal 19.625 potnikov, kar je za 10 odstotkov več kot v letu 2005. Za 5 odstot-kov je Malév povečal tudi število opravljenih premikov.

ČSA je tudi v letu 2006 uspešno povezoval Prago z Ljubljano. Povečano zanimanje na tej liniji se je izkazalo z uvedbo dodatnih frekvenc, tako da so s poletnim voznim redom začeli med Ljubljano in Prago leteti dvanajstkrat na teden. V letu 2006 so prepeljali 33.582 potnikov, kar predstavlja 29-odstotno povečanje števila potnikov v primerjavi z letom 2005.

V juniju je tako kot prejšnja leta začel leteti izraelski prevoznik Israir. V letu 2006 je prepeljal 8.354 potnikov oziroma 7 odstotkov več kot v letu 2005.

JAT je na liniji Beograd–Ljubljana v letu 2006 prepeljal 12.554 potnikov, kar je bilo za 55 odstotkov več kot v letu 2005.

Air France je v letu 2006 prepeljal v Pariz 53.783 potnikov oziroma kar za 62 odstotkov več potnikov kot leta 2005.

Passenger traffic

The growth in passenger traffic continued throughout 2006. The busiest months were from may to October, with over 100,000 pas-sengers passing through the airport each month of that period. The highest monthly passenger total was 169,000 recorded in August. Ten air carriers ran scheduled flights, linking Ljubljana Airport to 30 airports around Europe. In 2006 Ljubljana Airport developed its role as a transfer airport, having promoted itself as a local hub for the Balkan region. The number of transfer pas-sengers increased by 27%, representing 13% of all passenger traffic at the airport.

The highest number of passengers using Ljubljana Airport by car-rier in 2006 was recorded by Adria Airways, which had 944,482 passengers, an increase of 11% on the previous year. The growth came from the increase in traffic on scheduled flights, with char-ter flight traffic remaining at the same level as 2005. Breaking down the Adria Airways figures reveals that 93% of its flights were on scheduled routes, which represented 85% of the total number of Adria passengers. Charter flights represented 7% of all Adria aircraft movements, and 15% of its passengers. In 2006 Adria Airways carried 71% of all passengers using Ljubljana Air-port (2005: 70%), while Adria Airways was responsible for 73% of all aircraft movements, the same as in 2005.

In 2006, the low-cost carrier easyJet carried 88,643 passengers on its London route, which is 3% down on the previous year.

In May 2006 the low-cost air carrier WizzAir started the sched-uled routes Ljubljana-Brussels (Charleroi) and Ljubljana-London (Luton). It carried 24,500 passengers on the Ljubljana-Brussels route, and 27,434 passengers on the London route.

The combined passenger total of these two low-cost carriers rep-resents 12% of total traffic via Ljubljana Airport in 2006.

The Hungarian carrier Malév carried 19,625 passengers on its Budapest-Ljubljana route, which is 10% more than in 2005. The number of aircraft movements by Malév also increased, up 5%.

ČSA continued to link Ljubljana and Prague in 2006. The increased interest in this route was reflected in more frequent flights, with the summer timetable featuring 12 flights a week between Lju-bljana and Prague. In 2006 they carried 33,582 passengers, a 29% increase in the number of passengers on 2005.

As in 2005, the Israeli carrier Israir started flights once more in June. In 2006 it carried 8,354 passengers, which is 7% more than in 2005.

In 2006, JAT carried 12,554 passengers on its Belgrade-Ljubljana route, which is 55% more than in 2005.

In 2006, Air France carried 53,783 passengers on its Paris-Lju-bljana route, which is 62% more than in 2005.

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Na redni liniji za Varšavo je dvakrat na teden, v kombinaciji s prav tako dvema letoma Adrie Airways, letel poljski LOT. V letu 2006 je prepeljal 2.525 potnikov.

V začetku leta 2006 je med Istanbulom in Ljubljano začel leteti turški prevoznik Turkish Airlines. Prepeljal je 16.384 potnikov.

Čarterski promet

V letu 2006 je bilo na čarterskih poletih prepeljanih 224.097 potnikov ter oprav-ljenih 1.995 premikov letal. Število prepeljanih potnikov je v primerjavi z letom 2005 nižje za 3 odstotke. Največ čarterskih potnikov je bilo prepeljanih na letalih Adrie Airways (65 odstotkov vseh čarterskih potnikov). Najbolj zaželene destinacije med turisti ostajajo tudi v letu 2006 letovišča ob Sredozemskem in Črnem morju. Poleg čarterjev, ki so na počitnice peljali slovenske potnike, smo na ljubljan-skem letališču v letu 2006 sprejeli tudi večje število tujih gostov, ki so prispeli s čarterskimi leti iz Izraela (Arkia Israeli Airlines, Sun’D Or), Velike Britanije (BMI, First Choice Airways) in Islandije (Icelandic Air).

Tovorni promet

Skupaj 15.309 ton prepeljanega tovora v letu 2006 predstavlja izjemen rezultat in kar 32-odstotno povečanje v primerjavi z letom 2005. Teža tovora, prepeljanega z letali, je narasla za 54 odstotkov, teža tovora, prepeljanega s tovornjaki, za 18 odstotkov, medtem ko se je teža poštnega tovora znižala za 7 odstotkov. Na porast teže prepeljanega tovora z letali je imela velik vpliv vzpostavitev UPS-ovega centra za letalski tovor za jugovzhodno Evropo v mesecu novembru. Pri pro-jektu je s svojimi tovornimi letali sodelovala tudi Adria Airways, ki je v letu 2006 povečala svojo floto tovornih letal in opravljala prevoz hitre pošte tudi za FEDEX in TNT. Domači prevoznik Solinair je z dnevno letalsko povezavo med Ljubljano in Bergamom prevažal hitro pošto za družbo DHL Ekspres. V letu 2006 smo oskrbeli tudi več čarterjev tovornih letal. Še vedno veliko tovornega prometa poteka tudi v prtljažnikih potniških letal.

Letalski tovorni promet so z rednimi kamionskimi linijami nadaljevali prevozniki Air France, Austrian Airlines ter Lufthansa, z občasnimi prevozi pa Malév, Cargolux, ČSA, Adria Airways in drugi.

Splošno in poslovno letalstvo

Število prepeljanih potnikov v splošnem letalstvu je v letu 2006 znašalo 5.942 potnikov in je v primerjavi z enakim lanskim obdobjem nižje za 3 odstotke (za 4 odstotke je nižje število potnikov domačih prevoznikov, medtem ko je število pot-nikov tujih prevoznikov nižje za 1 odstotek). V letu 2006 je bilo zabeleženih 10.970 premikov letal in je enako številu premikov iz leta 2005.

A scheduled twice-weekly service to Warsaw was started by the Polish carrier LOT, in combination with two flights operated by Adria Airways. It carried 2,525 passengers in 2006.

At the start of 2006, Turkish Airlines started a scheduled route between Istanbul and Ljubljana. It carried 16,384 passengers in 2006.

Charter traffic

In 2006, 224,097 passengers were carried on a total of 1,995 char-ter flights. Compared to 2005 the number of passengers carried fell by 3%. The largest charter carrier was Adria Airways (65% of all charter passengers). The most popular tourist destinations in 2006 were once more Mediterranean and Black Sea resorts.

In addition to charter flights carrying Slovenian tourists on holi-day, Ljubljana Airport also welcomed a higher number of foreign charter passengers, travelling from Israel (Arkia Israeli Airlines, Sun’D Or), the United Kingdom (BMI, First Choice Airways) and Iceland (Icelandic Air).

Cargo transport

A total of 15,309 tonnes of cargo was transported in 2006, an exceptional result that represents an rise of 32% on 2005. The cargo tonnage carried by aircraft grew by 54%, the cargo ton-nage carried by truck increased by 18%, while the amount of postal cargo fell by 7%.

The set-up of the UPS air cargo centre for south-east Europe in November had a major impact on the growth in cargo tonnage transported by aircraft. Adria Airways took part in this project with its cargo aircraft, having increased its cargo fleet to carry ex-press post for FEDEX and TNT. The domestic carrier Solinair flew a daily connection between Ljubljana and Bergamo (Italy) carrying express post for DHL Ekspres. In 2006 we also supplied a number of cargo charter flights. A significant portion of cargo traffic is still transported in the hold of passenger aircraft.

Scheduled road cargo services were continued by Air France, Aus-trian Airlines and Lufthansa, and there were occasional services by Malév, Cargolux, ČSA, Adria Airways and others.

General and business aviation

The number of passengers carried in general aviation in 2006 was 5,942, down 3% on last year (the number of passengers carried by domestic carriers fell by 4%, while passenger numbers for for-eign carriers were down 1%). In 2006 there were 10,970 aircraft movements, which is the same as in 2005.


44

3.50

3.00

2.50

2.00

1.50

1.00

50

0Jan. Feb. Mar. Apr. Maj Jun. Jul. Avg. Sept. Okt. Nov. Dec.

PREMIKI LETAL PO VRSTI PROMETA / AIRCRAFT MOVEMENTS BY TRAFFIC TYPE

26.76%Splošno letalstvo

General aviation

2.36%DrugiOther

2.36%Javni prometPublic traffic

Javni promet / Public traffic

Splošno letalstvo / General aviation

Drugi / Other

ŠTEVILO POTNIKOV PO VRSTI PROMETA / NUMBER OF PASSANGERS BY TRAFFIC

180.00

160.00

140.00

120.00

100.00

80.00

60.00

40.00

20.00


1.40

1.20

1.00

80

60

40

20


TOVORNI PROMET PO VRSTI TRANSPORTA / CARGO TRAFFIC BY TRANSPORT

99.53%Javni prometPublic traffic

0.03%DrugiOther

0.45%Splošno letalstvo

General aviation

Javni promet / Public traffic

Splošno letalstvo / General aviation

Drugi / Other

4.9%Pošta

Post

52.6%Letalo

Air

41.9%Kamion

Truck

0.6%DrugiOther

Letalo / Air

Kamion / Truck

Pošta / Post

Drugi / Other

45

Računovodski izkazi družbe Aerodrom Ljubljana, d.d., za leto 2006 so prvič ses-tavljeni v skladu z mednarodnimi standardi računovodskega poročanja. Skupščina družbe je na svoji 9. seji dne 30. 6. 2005 na predlog uprave in ob soglasju nad-zornega sveta sprejela sklep, da družba Aerodrom Ljubljana, d.d., od 1. 1. 2006 dalje in najmanj za obdobje petih let sestavlja računovodska poročila v skladu z mednarodnimi standardi računovodskega poročanja. Posledica tega prehoda je, da so rezultati in premoženje družbe prikazani realneje, saj je večji del sredstev izkazan po poštenih vrednostih, kot to zahtevajo standardi. Povečala se je tudi v bilancah izkazana vrednost kapitala družbe, in sicer na 23,3 milijarde tolarjev oziroma na 6.134 tolarjev na delnico.

Ne glede na uporabljene standarde pa je družba Aerodrom Ljubljana, d.d., v letu 2006 poslovala uspešno, saj vsi ključni kazalniki uspešnosti poslovanja družbe pre-segajo načrtovane vrednosti. Družba je ustvarila 2,8 milijarde celotnega dobička pred obdavčitvijo, kar je za 15,6 odstotka bolje, kot je bilo predvideno v načrtu. Čisti dobiček družbe je dosegel vrednost 2,1 milijarde tolarjev, kar je glede na po-slovni načrt za 11,3 odstotka več.

4.1 Poslovni izid

Poslovni prihodkiV letu 2006 smo izpolnili 6.870 milijonov tolarjev poslovnih prihodkov, lanskoletne smo presegli za 9 odstotkov, načrtovane pa za skoraj 4 odstotke. Prihodki od pro-daje predstavljajo 99 odstotkov vseh poslovnih prihodkov.

V strukturi prihodkov od prodaje je 72 odstotkov le-teh ustvarjenih na domačem trgu, 28 odstotkov pa na tujem trgu. Prihodki, ustvarjeni s prodajo storitev na domačem trgu, so v primerjavi z letom 2005 porasli za 5,6 odstotka, na tujem trgu pa za dobrih 19 odstotkov. Ti rezultati kažejo na nadaljevanje težnje rasti deleža tujih prevoznikov v strukturi prometa.

4. ANALIZA POSLOVANJA ANALYSIS OF BUSINESS OPERATIONS

23.3%Komercialne storitve

Commercial services

50.6%

Letališke storitveAirport services

23.1%Storitve zemeljske oskrbe

Groundhanding services

3.0%Drugi poslovni prihodki

Other operating revenues

STRUKTURA POSLOVNIH PRIHODKOV PO VRSTAH STORITEV / OPERATING REVENUE BY SERVICE TYPE

The 2006 financial statements of Aerodrom Ljubljana d.d. were compiled for the first time in accordance with the International Financial Reporting Standards. At its 9th session on 30 June 2005 the company general meeting adopted the resolution, at the pro-posal of management board and with the consent of the super-visory board, that starting on 1 January 2006 and for at least five years thereafter Aerodrom Ljubljana d.d. would compile ac-counting reports in line with the International Financial Report-ing Standards. As a consequence of that transition, the company’s results and property are represented more realistically, since most of the assets are recorded at fair value, as required by the standards. The company’s equity capital value recorded in its bal-ance sheets also increased, reaching SIT 22.3 billion, or SIT 5,874 per share.

Regardless of the standards used, the operations of Aerodrom Ljubljana d.d. in 2006 were generally successful, all the key per-formance indicators being above planned values. The company generated SIT 2.8 billion in pre-tax profit, thus exceeding the plan by 15.6%. Net profit amounted to SIT 2.1 billion, which is 11.3% above the forecast.

4.1. Operating result

Operating revenues The company generated SIT 6,870 million in operating rev-enues in 2006, exceeding last year’s result by 9% and the plan by 4%. Sales revenues account for 99% of all operating rev-enues.

By trading pattern, 72% of sales revenues were generated on the domestic market and 28% on the foreign market. Revenues from the sale of services increased by 5.6% on the domestic market and by 19% on the foreign market as compared to 2005. The above results point to the continuation of an up-ward trend in the share of foreign carriers in the structure of traffic.


46

Z opravljanjem letaliških storitev, med katere sodijo storitve pristanka in parkiran-ja letal, osvetlitve manevrskih površin, centralizirane infrastrukture in potniškega servisa, smo uresničili 3.478 milijonov tolarjev prihodkov, kar je za 9,6 odstotka več kot v letu 2005, načrt pa je bil presežen za 3,6 odstotka.

Prihodki od storitev zemeljske oskrbe so znašali 1.589 milijonov tolarjev, kar je za 8,5 odstotka več kot v letu 2005, letni načrt pa smo presegli za dobrih 7 odstot-kov.

Doseženi prihodki od komercialnih storitev so višji od lanskih za 9,4 odstotka (1.602 milijona tolarjev) in so v okvirih načrtovanih prihodkov za leto 2006. Največji delež v sklopu komercialnih prihodkov predstavljajo prihodki od oddajanja prostorov v najem (39 odstotkov), tem sledijo prihodki od parkirnin (24 odstotkov), prihodki od skladiščenja (22 odstotkov), prihodki od oglaševanja (6 odstotkov) in drugi.

Glede na preteklo leto so se močno povečali prihodki od parkirnin (za 30 odstotkov). Povečanje izhaja iz večjega števila uporabnikov parkirišč, večjega števila potnikov in obiskovalcev. V veliki meri pa je to povečanje posledica večje in kvalitetnejše po-nudbe – parkiranja v parkirni hiši, kjer nivo storitve dopušča višje cene kot parki-ranje na zunanjem parkirišču.

Največjo rast izkazujejo prihodki od oglaševanja (povečali so se za 32 odstotkov), kar pripisujemo preureditvi zunanjih oglasnih površin, ponudbi novih medijev in izvajanju sprejete politike na področju trženja oglasnih površin. Doseženi prihodki pa zaostajajo za načrtovanimi za dobrih 22 odstotkov. Razlog je v kasnejši posta-vitvi novih oglasnih teles in zato kasnejšem pričetku trženja ter nekaj začetnih tehničnih težavah pri njihovem delovanju.

Prihodki od skladiščenja so za 6,7 odstotka višji od lanskih in za dobre 4 odstotke presegajo načrtovane, kar kaže, da se nekateri izvozniki vračajo na ljubljansko letališče, saj izvozni promet stimuliramo s popusti. V letu 2006 se je fizični obseg prometa prek avio-blagovnega skladišča povečal, in sicer po teži in številu pošiljk. Promet se je povečal v izvozu in tranzitu.

Po posameznih kategorijah prostorov, ki jih oddajamo v najem, izkazujejo rast pri-hodki od najemnin za gostinske in trgovinske prostore, na kar je ob nespremen-jenih prostorskih zmogljivostih vplivalo večje število potnikov ter obiskovalcev in se kaže v variabilnem delu najemnine za te prostore. Razlog večjih prihodkov od najemnin za parkirna mesta je v povečanem obsegu delovanja rent-a-car agencij in večjega števila taksistov, ki opravljajo svojo dejavnost na območju letališča. Tudi v letu 2006 se je nadaljevala težnja iz preteklega leta, ko so nekateri poslovni part-nerji, predvsem špediterji, odpovedali najem prostorov ali pa najemali manjše pros-tore, da bi znižali svoje stroške. Zato je dosežen prihodek od najemnin za poslovne prostore za 3 odstotke nižji kot v letu 2005. Zaradi spremenjenih pogojev prodaje letalskih obrokov našemu glavnemu prevozniku beležimo tudi padec prihodkov od najemnin za catering. Glede na to, da gostinsko dejavnost v pristaniški stavbi in dejavnost cateringa opravlja en izvajalec, smo zaradi želje po izboljšanju poslovnih rezultatov in kakovosti storitev podjetju Airest catering, d.o.o., odpovedali pogodbo. V letu 2007 bomo izbrali novega najemnika v skladu s sprejeto poslovno politiko Aerodroma Ljubljana, d.d., ki od novega najemnika pričakuje strokovnost, ustrezne reference v dejavnosti, primeren koncept ponudbe glede na velikost letališča in us-meritve z vizijo razvoja v novi pristaniški stavbi, ustrezno visok in stalen prihodek oddaje dejavnosti ter jasen vpogled v njegovo poslovanje.

The provision of airport services, which include landing ser-vices, aircraft parking, runway and taxiway illumination, cen-tralised infrastructure, and passenger services, generated revenues worth 3,478 million tolars, which is a 9.6% increase on 2005, and exceeded the planned total by 3.6%.

Revenues from groundhandling services were worth 1,589 mil-lion tolars, which is 8.5% more than in 2005, and exceeded the planned amount by over 7%.

The revenues generated from commercial services were 9.4% higher than in 2005 (1,602 million tolars) and were in line with planned revenues for 2006. The largest share of commercial service revenues comes from rental of premises (39%), fol-lowed by parking fees (24%), warehousing fees (22%), adver-tising fees (6%) and other.

Compared to last year, there was a significant increase in reve-nues from parking fees (up by 30%). The increase comes from the higher number of car park users, and the higher number of passengers and visitors. To a large extent, this increase is due to bigger and better facilities – offering parking in a multi-storey car park, with the level of service justifying a higher price than the outdoor car park.

The highest increase is for advertising revenues (up by 32%), which is due to a thorough reorganisation of outdoor advertis-ing space, the supply of new media, and the implementation of a new marketing policy for advertising space. The revenues generated were, however, still 22% less than planned. The rea-son is the delayed set up of new advertising structures and the consequent delay in marketing this space, as well as some initial technical difficulties.

Warehousing revenues were 6.7% higher than last year, and 4% above plans, which indicates that some exporters are re-turning to Ljubljana Airport, following our stimulation of ex-port traffic with a range of discounts. In 2006 the volume of traffic passing through the air cargo warehouse increased by tonnage, and by number of packages. There was an increase in both transit and export cargo traffic.

Breaking down the premises rented by category, there was a growth in rental revenues for catering and retail premises. Al-though capacity did not increase, this growth was influenced by the increase in the number of passengers and visitors, with the variable portion of the rent being adjusted for that reason. The reason for increased revenues from parking space rentals was the increased volume of business by rent-a-car agencies and the increase in the number of taxis operating at the air-port. In 2006 the trend for some business partners, primarily freight forwarders, to stop renting premises or rent smaller premises to reduce costs, continued. The revenues from busi-ness unit rentals were therefore 3% down on 2005. Chang-ing conditions in the sale of airline meals to our main carrier meant we recorded a fall in revenue from catering service rent-als. Since just one operator provides these catering services and the restaurant and catering services within the terminal building, we have cancelled the contract with the company Air-est catering d.o.o., in order to improve operating results and

47

Poslovni odhodkiAerodrom Ljubljana, d.d., je pri poslovanju v letu 2006 uresničil poslovne odhodke v višini 4.508 milijonov tolarjev, kar je za slabe 3 odstotke več kot v letu 2005 ozi-roma za dobra 2 odstotka manj od načrtovanih. Največji delež v strukturi poslovnih odhodkov predstavljajo stroški dela, in sicer 45 odstotkov, stroški materiala in storitev 30 odstotkov, amortizacija 24 odstotkov ter drugi poslovni odhodki en odstotek.

Poslovni izid iz poslovanja (EBIT)Poslovni izid iz poslovanja v višini 2.362 milijonov tolarjev je 23 odstotkov nad lan-skoletnim, prav tako pa za 17 odstotkov presega tudi načrtovanega za leto 2006.Rast prometa, ki se kaže v rasti prihodkov od prodaje, intenziven nadzor nad rastjo stroškov in optimalna uporaba poslovnih sredstev so vplivali na izboljšanje opera-tivne uspešnosti poslovanja, kar se že nekaj zadnjih let kaže v rasti poslovnega izida iz poslovanja.

Neto prihodki financiranjaDružba je v letu 2006 ustvarila 439 milijonov tolarjev finančnih prihodkov, kar je za 12 odstotkov manj kot v letu 2005, načrt pa je presežen za 10 odstotkov. V strukturi finančnih prihodkov predstavljajo največji delež prihodki od obresti, in sicer 72 odstotkov, prihodki od dividend 27 odstotkov, en odstotek pa so drugi finančni prihodki.

Finančni odhodki znašajo 9 milijonov tolarjev in so za 27 odstotkov nižji kot v preteklem letu.

Doseženi finančni izid v znesku 430 milijonov tolarjev je za 11 odstotkov nižji ka-kor v predhodnem letu, načrtovani pa je presežen za 8 odstotkov.

Poslovni izid pred obdavčitvijoPoslovni izid pred obdavčitvijo v znesku 2.792 milijonov tolarjev je za skoraj 16 odstotkov višji od načrtovanega oziroma za dobrih 16 odstotkov presega lanskoletnega.

DavekZa leto 2006 je bila izračunana davčna obveznost do države v višini 737 milijonov tolarjev ter ugotovljeni odloženi davki v višini 54 milijonov tolarjev, ki znižujejo davčno obremenitev bruto dobička. Davčna obremenitev poslovnega izida pred obdavčitvijo znaša 683 milijonov tolarjev, kar je za 202 milijonov tolarjev oziroma za 42 odstotkov več kot v preteklem letu. Efektivna davčna stopnja za leto 2006 znaša 24,4 odstotka in je za 4,3 odstotne točke višja kot v preteklem letu. Razlog za tako povečanje davčne obveznosti je v ukinitvi oziroma zmanjšanju davčnih olajšav za investicije in v povečanju davčne osnove zaradi višjega poslovnega dobička tekočega leta.

Čisti poslovni izid poslovnega letaDružba Aerodrom Ljubljana, d.d., je v letu 2006 ustvarila čisti poslovni izid v znesku 2.109 milijonov tolarjev, kar je za 11 odstotkov več od načrtovanega oziroma 10 odstotkov več od lanskoletnega.

service quality. In 2007 we will select a new leaseholder in line with the business policy of Aerodrom Ljubljana, d.d., which re-quires the leaseholder to offer professional services, appropri-ate references, a suitable business concept given the airport size and trends, including a development vision for the new terminal building. Aerodrom Ljubljana expects sufficiently high and constant revenues from the new leaseholder, and a transparent overview of its operations.

Operating expenses In 2006 Aerodrom Ljubljana d.d. incurred operating expenses in the amount of SIT 4,508 million, less than a 3% increase compared to 2005, representing just above 2% less than planned. Approximately 45% in labour costs account for the largest share in the structure of operating expenses, followed by costs of material and services (30%), amortisation/depre-ciation (24%) and other operating expenses (1%). Operating profit (EBIT) Operating profit totalling SIT 2,362 million is 23% up compared to last year and exceeds the plan for 2006 by 17%. The growth of traffic, which resulted in an increase in sales rev-enues, intensive control of the growth of expenses and the opti-mal use of operating assets led to an improvement of operating performance, which has been reflected in the growth of operating profit for the past few years. Net income from investment In 2006 the company generated financial revenues of SIT 439 million, which is 12% less than in 2005, but still 10% above the plan. At 72%, interest revenues represent the largest share in the structure of financial revenues, followed by dividend revenues (27%) and other financial revenues (1%).

Financial expenses amount to SIT 9 million, which is 27% less than last year.

Net cashflow amounting to SIT 430 million has exceeded the fig-ure from the previous year by 11% and the plan by 8%. Pre-tax profit Pre-tax profit totalling SIT 2,792 million is almost 16% above the plan and exceeds last year’s pre-tax profit by over 16%.

TaxIn 2006, tax liabilities to the state were assessed at SIT 737 mil-lion, and deferred taxes, which reduce the tax burden on gross profit, were calculated at SIT 54 million. The tax burden on pre-tax profit amounts to SIT 683 million, which is SIT 202 million (or 42%) up as compared to last year. The effective tax rate for 2006 is 24.4%, an increase of 4.3 percentage points on the previous year. The reason for the increase in the tax burden was the aboli-tion or reduction of tax relief for investment, and the increase of the tax base due to higher operating profit in the current year.

Net profit for financial year In 2006 Aerodrom Ljubljana d.d. generated a net profit of SIT 2,109 million, which is 11% more than planned and up 10% com-pared to last year.


48

4.2 Premoženjsko stanje

Bilančna vsota je na dan 31. 12. 2006 znašala 26.085 milijonov tolarjev in se je v primerjavi s predhodnim letom povečala za 8 odstotkov. Pomembne spremembe so nastale na nepremičninah, napravah ter opremi in so rezultat obsežnih naložbenih aktivnosti (gradnja potniškega terminala, nakupi zemljišč).

Bistvenih sprememb v strukturi sredstev in obveznostih do virov sredstev po stanju na dan 31. 12. 2006 v primerjavi z enakim obdobjem predhodnega leta ni bilo.

4.3 Kazalniki poslovanja

Dobičkovnost prihodkov

Dobičkovnost prihodkov v vseh štirih primerjalnih izračunih kaže na rast donos-nosti poslovanja, pri tem, da dobičkovnost celotnih prihodkov (čisti dobiček/celotni prihodki oziroma dobiček pred obdavčitvijo/celotni prihodki) nekoliko zaostaja za dobičkovnostjo poslovnih prihodkov (čisti dobiček/poslovni prihodki oziroma dobiček pred obdavčitvijo/poslovni prihodki), na kar vplivajo nižji finančni prihodki zaradi porabe finančnih sredstev za financiranje intenzivnega razvoja letališča.

Čista dobičkovnost prihodkov kaže nižjo težnjo rasti v primerjavi z bruto dobi-čkovnostjo prihodkov, na kar vpliva višja davčna obremenitev v primerjavi s preteklim letom.

4.2. Financial standing

As at 31 December 2006 the balance sheet total amounted to SIT 26,085 million, representing an increase of 8% on last year. There were some significant changes in property and equipment result-ing from intensive investment activities (construction of the pas-senger terminal, purchase of land).

As at 31 December 2006 there were no significant changes in the breakdown of assets and liabilities in comparison with the same period last year.

4.3. Performance indicators

Return on revenue

All four comparative calculations point to growth in return on revenue, whereas the return on total revenue (net profit/total revenue or pre-tax profit/total revenue) is somewhat behind the return on operating revenues (net profit/operating revenue or pre-tax profit/operating revenues) as a consequence of lower fi-nancial revenues due to the use of financial resources for financ-ing the intensive airport development.

The growth trend of net return on revenue was lower in compari-son with gross return on revenue, which is affected by a higher tax burden in comparison with last year.

STRUKTURA SREDSTEV na dan 31. 12. 2006 / ASSET STRUCTURE as at 31 Dec 2006

2.5%Ostala sredstva

Other assets

9.2%Kratkoročne finančne naložbe

Current financial investments

4.4%Kratkoročne poslovne terjatve

Current trade receivables

31.4%Dolgoročne finančne naložbe

Non-current financial investments

52.5%Opredmetena osnovna sredstva

Tangible fixed assests

STRUKTURA OBVEZNOSTI DO VIROV SREDSTEVna dan 31. 12. 2006 / LIABILITIES as at 31 Dec 2006

5.7%Kratkoročne obveznosti

Current liabilities

2.6%OstaloOther

2.4%Rezervacije in dolgoročne razmejitve

Provisions

89.3%Kapital

Equity

49

Gospodarnost poslovanja, dodana vrednost

Koeficient gospodarnosti poslovanja, ki prikazuje razmerje med poslovnimi pri-hodki in poslovnimi odhodki, in koeficient celotne gospodarnosti, ki prikazuje razmerje med celotnimi prihodki in celotnimi odhodki, izkazujeta rast poslovne uspešnosti družbe, na kar kažeta tudi kazalnika dodane vrednosti na zaposlenega in čisti dobiček na zaposlenega, ki sta se prav tako povečala v primerjavi s pred-hodnim letom.

DOBIČKOVNOST PRIHODKOV / RETURN ON REVENUE

2006 2005 Indeks/Index 06/05

Čista dobičkovnost poslovnih prihodkovNet return on operating revenues 30,7 30,5 101

Čista dobičkovnost celotnih prihodkovNet return on total revenue 28,9 28,2 102

Bruto dobičkovnost poslovnih prihodkovGross return on operating revenues 40,6 38,1 106

Bruto dobičkovnost celotnih prihodkovGross return on total revenue 38,2 35,3 108

Operating efficiency, value added

Both the operating efficiency ratio, showing the ratio between operating revenues and operating expenses, and the total effi-ciency ratio, representing the ratio between total revenues and total expenses, point to growth in operating performance. This is also supported by the figures of value-added per employee and net profit per employee, which have also increased in comparison with the previous year.

GOSPODARNOST POSLOVANJA, DODANA VREDNOST / OPERATING EFFICIENCY, VALUE ADDED

2006 2005 Indeks/Index 06/05

Koeficient gospodarnosti poslovanjaOperating efficiency ratio 1,524 1,437 106

Koeficient celotne gospodarnostiTotal efficiency ratio 1,618 1,546 105

Dodana vrednost na zaposlenega* (v tisoč tolarjih)Value-added per employee (SIT thousands) 16,244 15,689 104

Čisti dobiček na zaposlenega* (v tisoč tolarjih)Net profit per employee (SIT thousands) 6,241 5,942 105


* Average number of employees on the basis of working hours used in calculation

* Pri izračunu je upoštevano povprečno število zaposlenih na osnovi opravljenih ur

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Dobičkonosnost kapitala, sredstev

Koeficient čiste dobičkonosnosti kapitala (čisti dobiček/povprečni kapital brez čistega dobička proučevanega leta) na zadnji dan leta 2006 kaže na 3-odstotno rast v primerjavi s predhodnim letom, koeficient dobičkonosnosti sredstev (čisti dobiček/povprečna celotna sredstva) pa izkazuje 4-odstotno rast v primerjavi z letom 2005.

DOBIČKONOSNOST KAPITALA, SREDSTEV / RETURN ON EQUITY, RETURN ON ASSETS

2006 2005 Indeks/Index 06/05

Koeficient čiste dobičkonosnosti kapitalaNet return on equity 0,098 0,095 103

Koeficient dobičkonosnosti sredstevReturn on assets 0,084 0,081 104

ČISTI DOBIČEK OBRAČUNSKEGA OBDOBJA NA DELNICO Z METODO IZRAČUNA /NET PROFIT PER SHARE FOR THE ACCOUNTING PERIOD, INCLUDING CALCULATION DETAILS

2006 2005 Indeks/Index 06/05

Čisti dobiček (v tisoč tolarjih)Net profit (SIT thousands) 2.109.295 1.921.212 110

Število vseh izdanih delnicTotal number of shares issued 3.796.527 3.796.527 100

Čisti dobiček na delnico (v tolarjih) (čisti dobiček/število vseh izdanih delnic)Net profit per share (tolars) (net profit / total number of shares issued) 556 506 110

KNJIGOVODSKA VREDNOST DELNICE NA DAN 31. 12. Z METODO IZRAČUNA /BOOK VALUE OF SHARES AS AT 31 DECEMBER, INCLUDING CALCULATION DETAILS

31. 12. 2006 31. 12. 2005 Indeks/Index 06/05

Kapital (v tisoč tolarjih)Equity (SIT thousands) 23.286.155 21.864.803 107

Število vseh izdanih delnicTotal number of shares issued 3.796.527 3.796.527 100

Knjigovodska vrednost delnice (v tolarjih) (kapital/število izdanih delnic)Book value of share (in tolars) (equity / number of shares issued) 6.134 5.759 107

Return on Equity, Return on Assets

As at 31 December 2006 the net return on equity ratio (net profit/average equity capital less net profit for the year) indicated 3% growth in comparison with the previous year, while the return on assets ratio (net profit/average total assets) indicated a 4% in-crease compared to 2005.

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Družba je za naložbe v nepremičnine, naprave in opremo v letu 2006 namenila 2.618 milijonov tolarjev, kar je za 8 odstotkov več kot v predhodnem letu, za toliko pa smo presegli tudi letni načrt.

Investicije v gradnjo letaliških objektov

Za gradnjo letaliških objektov, varnostnih sistemov, dograditev komunalne in ener-getske infrastrukture ter nakup zemljišč smo v letu 2006 namenili 2.122 milijonov tolarjev, od tega smo za gradnjo prve faze novega potniškega terminala porabili 1.364 milijonov tolarjev, za nakup zemljišč za potrebe poslovno-logistične cone 464 milijonov tolarjev ter za povečanje manevrskih površin 194 milijonov tolarjev.

S sporazumom z Vlado Republike Slovenije smo prevzeli obvezo o zagotovi-tvi schengenskega mejnega prehoda na letališču Ljubljana do junija 2007. Ta odločitev je bistveno vplivala na prednosti izvajanja načrta investicij zlasti zaradi časovnih, človeških in finančnih virov. Nekatere prvotno začrtane naloge so bile zato prestavljene na kasnejše obdobje (podaljšanje vozne steze, center splošnega letalstva, servisna cesta za transport goriv, objekti za tehnično-gasilsko službo in za sprejem in odpravo letal), strategija izvedbe nekaterih ključnih objektov pa se je spremenila (gradnja potniškega terminala v fazah, povečanje letališke ploščadi). Tudi odločitev Kontrole zračnega prometa Slovenije, d.o.o., o gradnji objekta za nadzor letalskega prometa in novega kontrolnega stolpa ter Ministrstva za notran-je zadeve o gradnji objekta za potrebe policije in ostalih državnih služb na letališču je narekovala spremembe pri načrtovanju nadomestnih parkirišč za osebna vozila.

Največja in najpomembnejša investicija je nedvomno pričetek gradnje novega potniškega terminala. Izredno ostre časovne zahteve za zagotovitev schengen-skega mejnega prehoda, ki omogoča delitev potnikov na domačih schengenskih letih od neschengenskih letov, so narekovale gradnjo terminala po fazah. Tako smo pričeli z gradnjo 1. faze, ki obsega nadzidavo obstoječega terminala in izgradnjo povezovalnega trakta z bodočim terminalom, ki zajema klet, pritličje, nadstropje in teraso v skupni izmeri 5.108 kvadratnih metrov, ter prenovo v obstoječem termi-nalu v izmeri 864 kvadratnih metrov. Vrednost del skupaj z opremo je ocenjena na 3.800 milijonov tolarjev. Poleg tega smo v starem terminalu uredili službeni prehod za letalske posadke in klimatizirali prostore komunikacijskih vozlišč. Do izgradnje 2. faze, to je glavnega dela novega terminala v izmeri 33.000 kvadratnih metrov, bo ves potniški promet potekal skozi stari terminal in 1. fazo novogradnje, ki bo že za-gotavljala omenjeno ločitev potnikov v odhodu in prihodu. Potniki bodo že v 1. fazi poleg devetih avtobusnih izhodov uporabljali tudi štiri aviomostove za neposreden vstop v letala. Po izgradnji 2. faze, ki jo bomo nadaljevali v letu 2008, bo potniški promet v celoti preseljen v novi terminal.

Zaradi gradnje 1. faze novega terminala je začasno izven uporabe dobršen del letališke ploščadi, zato smo jo, zaradi zagotovitve zadostnih kapacitet za parkiran-je letal, morali povečati. Razširitev obsega 6.000 kvadratnih metrov novih asfalt-nih površin z vso opremo za osvetlitev, označevanje in odvodnjo, investicija pa je znašala 193 milijonov tolarjev. Zaradi nove tehnologije krcanja letal prek aviomo-stov smo spremenili tudi tehnologijo parkiranja letal na celotni ploščadi in povečali kapaciteto z dosedanjih 13 na 19 do 23 letal glede na kategorijo.

5. INVESTICIJSKA DEJAVNOST INVESTMENTS

In 2006 the company invested SIT 2,618 million in property and equipment, exceeding both the figure from last year and the planned amount for this year by 8%.

Investment in construction of airport infrastructure

We invested SIT 2,122 million in the construction of airport build-ings, security systems, extension of municipal and energy infra-structure and purchase of land, of which SIT 1,364 million was spent on the construction of the first phase of the new passenger terminal, SIT 464 million on the purchase of land for the business and logistics zone and SIT 194 million to increase the manoeuvr-ing surface.

Following the agreement reached with the Slovenian Government, Aerodrom Ljubljana assumed the obligation to provide a Schen-gen-compliant border area at Ljubljana Airport by June 2007. This decision had a major impact on the priorities of the investment plan, in terms of timing, and human and financial resources. Some of the originally planned tasks were postponed until a later date (taxi and runway extensions, general aviation centre, service road for fuel transport, facilities for firefighting services and aircraft arrival and departure facilities), while the strategy for implement-ing a number of key constructions was changed (phased construc-tion of passenger terminal, expansion of aircraft apron). The deci-sions made by the air traffic control company (Kontrola zračnega prometa Slovenije, d.o.o.) to build an air traffic control buildings and a new control tower, and the Ministry of the Interior’s plan to construct a new building to meet the police service’s require-ments, also required changes in the planning of additional car parking.

The largest and most important investment is undoubtedly the start of construction for the new passenger terminal. The very tight schedule for provision of the Schengen border area, which must provide for the separation of passengers on internal Schen-gen flights from those on non-Schengen flights has led to ter-minal construction being divided into several phases. Phase 1 of construction has already started, and entails the reconstruction of the existing terminal and construction of a connecting section with the planned new terminal, which will include a basement, ground floor and upper floor and a terrace, covering a total of 5,108m2 with the reconstructed area of the existing terminal cov-ering 864m2. The total value of these works is estimated at 3,800 million tolars. Service access for flight crew and an air-conditioned communications hub have also been installed in the old terminal. Until completion of Construction Phase 2, the main section of the new terminal, measuring 33,000m2, all passenger traffic will pass through the old terminal, and Phase 1 of the new construction, which will enable the required separation of passengers on arrival and departure. In addition to nine “bus gates” in Phase 1 passen-gers will already be able to use four passenger boarding bridges for direct access to aircraft. Once Phase 2 is complete, with work set to continue in 2008, passenger traffic will be moved in full to the new terminal.


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A large part of the airport apron is out of use due to the Phase 1 construction of the new terminal. In order to ensure suffi-cient capacity for aircraft parking, we had to extend the apron. The extension includes 6,000m2 of new asphalt surface, with all the requisite lighting, signs and drainage systems. The invest-ment amounted to SIT 193 million. The new method of boarding through passenger boarding bridges will improve the system of aircraft parking on the entire apron, increasing the capacity from 13 to between 19 and 23 aircraft, depending on the category.

Computer hardware

In order to ensure uninterrupted operations the company invested SIT 46.5 million in computer equipment, of which SIT 24.1 million went into hardware and SIT 22.4 million into software. The invest-ments in hardware included the expansion and updating of the LAN network, providing access to the internet via an additional server, updating and replacing old hardware with insufficient capacity, and commissioning an LCD display providing passenger and visi-tor information. On the software side, we updated and upgraded the licensed AutoDesk Map software from the 2004 version to the 2007 version, and continued the development of the transport and business information systems. We also continued activities in the field of development and staff scheduling solutions, and upgrading time and attendance software to enable a move to an online solution. The web portal was also upgraded to include a cargo traffic module, and module providing visual information on Aerodrom Ljubljana’s development vision, which will offer website visitors user-friendly way to find out about the planned develop-ment of the airport. Concluding a long-term project, in Decem-ber we also updated the licences for the Oracle database, moving from version 9i to version 10g and started activities to develop and launch a geographical information system.

Other airport equipment

A total of 449 million tolars was invested in airport equipment in 2006. Most of this equipment was intended to modernise the technical groundhandling processes for the arrival and departure of aircraft, passengers and cargo, and safety provisions. To en-sure safe aircraft take-off and landing we invested in a new air-craft de-icing vehicle (142 million tolars), a vehicle with a device to measure runway slipperiness (18 million tolars), and a small fire engine (13 million tolars). To meet baggage handling require-ments, we purchased tractor units (40 million tolars), transport trolleys (12 million tolars), and a crate-loader (62 million tolars). Advertising hoardings (30 million tolars) were purchased in order to market advertising space.

Računalniška oprema

Za zagotavljanje neprekinjenega poslovanja družbe smo v letu 2006 izvedli naložbe v računalniško opremo v višini 46,5 milijona tolarjev, od tega v strojno opremo 24,1 milijona tolarjev in v programsko opremo 22,4 milijona tolarjev. V sklopu naložb v strojno opremo smo izvedli širitve in posodobitve lokalnega računalniškega omrežja (LAN), zagotovili dostop do svetovnega spleta prek do-datnega ponudnika, posodobili in nadomestili smo zastarelo in premalo zmogljivo strojno opremo, predali v uporabo LED prikazovalnik za informiranje potnikov in obiskovalcev. Na področju naložb v programsko opremo smo posodobili in izvedli nadgradnjo licenčne programske opreme AutoDesk Map iz verzije 2004 na ver-zijo 2007, nadaljevali smo z razvojem poslovnega in prometnega informacijskega sistema. Nadaljevali smo tudi z aktivnostmi na področju razvoja in uvedbe rešitev za načrtovanje delovnega časa ter na nadgradnji programske opreme za regis-tracijo delovnega časa za prehod na spletne rešitve. Izvedena je bila tudi dogra-ditev spletnega portala z modulom za tovorni promet in z modulom za vizualizacijo vizije razvoja Aerodroma Ljubljana, ki obiskovalcem spletnega portala na prijazen in nazoren način prikazuje vizijo razvoja letališča v naslednjih letih. V mesecu de-cembru smo po dolgotrajnih aktivnostih izvedli tudi prehod licenčne programske opreme za bazo podatkov Oracle iz verzije 9i na verzijo 10g in pričeli z aktivnostmi na razvoju in uvajanju geografskega informacijskega sistema.

Oprema za potrebe dejavnosti

Za opremo za potrebe izvajanja dejavnosti smo v letu 2006 namenili 449 mili-jonov tolarjev. Glavnina opreme je namenjena posodobitvi tehnoloških procesov pri sprejemu in odpravi letal, potnikov in tovora ter zagotovitvi varnosti. Za zagotovi-tev varnega pristajanja in vzletanja letal smo nabavili novo vozilo za razledenitev letal (142 milijonov tolarjev), vozilo s priključki za merjenje drsnosti vzletno-pris-tajalne steze (18 milijonov tolarjev), manjše gasilsko vozilo (13 milijonov tolarjev). Za potrebe prtljažne službe smo nabavili vlečne traktorje (40 milijonov tolarjev), transportne vozičke (12 milijonov tolarjev), nakladalnik zabojev (62 milijonov to-larjev). Za potrebe trženja oglasnih površin pa smo nabavili oglasna telesa (30 milijonov tolarjev).

53

Družba Aerodrom Ljubljana, d. d., je izdala 3.796.527 delnic z nominalno vrednostjo delnice 1.000 tolarjev. 49 odstotkov vseh delnic (1.860.298 delnic) je prednostnih participativnih z omejeno glasovalno pravico in so v lasti Republike Slovenije, 51 odstotkov (1.936.229 delnic) pa je navadnih, prosto prenosljivih delnic, s katerimi se od leta 1997 dalje trguje na organiziranem trgu Ljubljanske borze.

Zaradi zamenjave denarne valute tolarja z evrom z dnem 1. 1. 2007 je skupščina družbe na svoji 10. seji sprejela sklep o prehodu na kosovne delnice.

V letu 2006 med večjimi delničarji Aerodroma Ljubljana, d.d., ni prišlo do bist-venih sprememb. Na dan 31. 12. 2006 je imela družba 4.636 delničarjev, kar je za dober odstotek več kakor 31. 12. 2005. Povečalo se je predvsem število malih delničarjev.

6. DELNICA AELG IN LASTNIŠKA STRUKTURA AELG SHARE AND OWNERSHIP STRUCTURE

7.36%Kapitalska družba, d.d.

Pension Found d.d.

13.14%Fizične osebe

Private individuals

6.82%Slovenska odškodninska družba, d.d.

Slovenian Restitution Found d.d.

22.00%Ostale pravne osebe

Other legal entities

50.67%Republika SlovenijaRepublic of Slovenia

STRUKTURA LASTNIŠTVA na dan 31. 12. 2006 / OWNERSHIP STRUCTURE as at 31 dec 2006

Aerodrom Ljubljana d.d. issued 3,796,527 shares with a nominal value of SIT 1,000 per share, 49% of which (1,860,298 shares) are preference participating shares with limited voting rights owned by the Slovenian government and 51% (1,936,229 shares) ordinary freely transferable shares traded on the Ljubljana Stock Exchange’s regulated market since 1997.

Due to the currency changeover and the replacement of the tolar with the euro on 1 January 2007, the general meeting at its 10th session adopted a resolution on the transition to no-par-value shares.

In 2006 there were no significant changes in the major share-holders of Aerodrom Ljubljana d.d. As at 31 December 2006 the company had 4,636 shareholders, which is 1% more than a year earlier. The number of small shareholders increased in particular.


54

Med desetimi največjimi lastniki družbe prav tako ni prišlo do bistvenih spre-memb.

Trgovanje z delnicami AELG

Vrednost delnice AELG je prvo četrtletje 2006 nekoliko padala do najnižje vred-nosti 16. 3. 2006, ko je enotni tečaj znašal 8.700 tolarjev, od maja naprej pa je njena vrednost konstantno naraščala in 5. 12. 2006 dosegla doslej najvišjo vrednost, in sicer je enotni tečaj znašal 14.045 tolarjev. Najvišji promet z delnicami AELG v letu 2006 je bil zabeležen 23. 11. 2006, in sicer v višini 96,4 milijona tolarjev. Vrednost delnice AELG je na zadnji trgovalni dan v letu 2006 znašala 13.777,98 tolarjev, kar je za 36 odstotkov več kot na zadnji trgovalni dan leta 2005. Povprečni enotni tečaj delnice je znašal 10.236 tolarjev, kar je za 10,8 odstotka manj kot v letu 2005.

10 NAJVEČJIH LASTNIKOV / 10 LARGEST OWNERS 2006 2005

Število delnicNumber of shares

DeležHolding


Delež Holding

1. Republika SlovenijaRepublic of Slovenia

1.923.853 50,67 1.923.853 50,67

2. Kapitalska družba, d.d.Pension Found d.d.

279.561 7,36 279.561 7,36

3. Slovenska odškodninska družba, d.d.Slovenian Restitution Found d.d

258.958 6,82 258.958 6,82

4. Maksima, delniška ID, d.d.Maksima, delniška ID d.d.

165.940 4,37 192.458 5,07

5. Zavarovalnica Triglav, d.d.Zavarovalnica Triglav d.d.

151.086 3,98 151.086 3,98

6. Publikum Trezor, d.o.o.Publikum Trezor d.o.o.

118.683 3,13 118.683 3,13

7. Delniški vzajemni sklad Triglav Steber I 85.550 2,25 85.627 2,26

8. KD Rastko, delniški vzajemni sklad 53.001 1,40 53.001 1,40

9. KD Galileo, vzajemni sklad 29.827 0,79 29.827 0,79

10. Kapitalska družba, d.d. – PPSPension Fund – PPS

17.172 0,45 20.351 0,54

There were also no significant changes among the ten largest company owners.

Trading in AELG shares

The value of the AELG shares fell somewhat in the first quarter of 2006, reaching their lowest value on 16 March 2006 at 8,700 tolars. Since May their value has constantly increased and on 5 December 2006 reached their highest value to date: 14,045 to-lars. The highest turnover of AELG shares on any one day in 2006 occurred on 23 December 2006, reaching 96.4 million tolars. The price of AELG shares on the last trading day of 2006 was 13,777.98 tolars, which is 36% more than on the last trading day of 2005. The average share price over the year was 10,236 tolars, which is 10.8% less than in 2005.

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PODATKI O DELNICI AELG / AELG SHARE PERFORMANCE

2006 2005 Indeks/Index 06/05

Tržna kapitalizacija na dan 31. 12. – v milijonih tolarjevMarket capitalisation on 31 December – million tolars

26,677 19,593 136

Promet – v milijonih tolarjevTurnover - million tolars

1,583 1,929 82

Najnižji enotni tečaj – v tolarjihLowest share price – tolars

8,700 9,839 88

Najvišji enotni tečaj – v tolarjihHighest share price – tolars

14,045 13,748 102

Povprečni enotni tečaj med letom – v tolarjihAverage share price over total year – tolars

10,236 11,471 89

Tržna cena na dan 31. 12. – v tolarjihMarket price on 31 December – tolars

13,778 10,119 136

Knjigovodska vrednost delnice na dan 31. 12. – v tolarjih*Book value of one share on 31 December – tolars*

6,134 5,759 107

Čisti poslovni izid na delnico – v tolarjih*Net profit per share – in tolars*

556 506 110

Razmerje med tržno ceno in knjigovodsko vrednostjo na dan 31. 12.Market price to book value on 31 December

2,25 1,76 128

Število delničarjev na dan 31. 12.Number of shareholders as of 31 December

4.636 4.578 101

Število izdanih delnicTotal number of shares issued

3.796.527 3.796.527 100

- prednostne participativne delnice- participating preference shares

1.860.298 1.860.298 100

- navadne delnice, ki kotirajo na borzi - ordinary shares, listed on stock exchange

1.936.229 1.936.229 100

* Pri izračunu so upoštevane vse delnice * All share used in calculation


56

GIBANJE TEČAJA AELG V PRIMERJAVI Z INDEKSOMA SBI20 IN SBITOP v obdobju januar-december 2006 / CHANGE IN AELG SHARE PRICE AGAINST SBI20 & SBITOP INDICES January-December 2006

SIT

16.00

14.00

12.00

10.00

8.00

6.00

4.00

2.00

0

3. ja

n

17. j

an

31. j

an

14. f

eb

28. f

eb

14.m

ar

28. m

ar

11.a

pr

25. a

pr

9. m

aj

23.m

aj

6. j

un

20. j

un

4. ju

l

18. j

ul

1. a

vg

15. a

vg

29. a

vg

12. s

ep

26. s

ep

10. o

kt

24. o

kt

7. n

ov

21. n

ov

5. d

ec

19. d

ec

AELG SBI20 SBITOP

SIT

15.000

13.000

11.000

9.000

7.000

5.000

3.000

1.0001997 1998 1999 2000 2001 2002 2003 2004 2005 2006

2.6713.007 3.369

3.812 4.1504.406

4.6485.451 5.759 6.134

1.9002.988 3.256 3.100 3.401

4.031

6.061

11.969

10.119

13.778

Tržna cena delnice / Market value

Knjigovodska vrednost delnice / Book value

TRŽNA CENA IN KNJIGOVODSKA VREDNOST na dan 31. 12. / MARKET PRICE AND BOOK VALUE OF SHARES on 31 Dec

57

Dividendna politika

Eden najpomembnejših ciljev, ki jih je družba sprejela v okviru strategije razvoja družbe, je kapitalska politika, ki temelji na dolgoročnem maksimiranju donosov družbe in s tem tudi donosov delničarjev. Uprava družbe zagovarja stabilne in primerno rastoče dividende ob stalnem investicijskem razvoju, kar je v obdobju od leta 1996 do leta 2005 tudi uresničila.

Skladno z zastavljeno dividendno politiko družba razporeja ustvarjeni dobiček na del, ki ga (skladno s statutom družbe) znova investira v nadaljnji razvoj, in na del, ki se (skladno z odločitvijo skupščine) nameni za izplačilo dividend delničarjem. V povprečju družba za dividende nameni dobrih štirideset odstotkov ustvarjenega dobička, pri čemer ta delež v posameznih letih niha v odvisnosti od višine dividende za prednostne participativne delnice, ki so v lasti države in za katere se dividenda izračunava skladno s statutom družbe. V zadnjih treh letih so dividende navadnih in prednostnih participativnih delnic enake.

v tolarjih / SIT

LetoYear

Navadne delniceOrdinary shares

Prednostne delnicePreference shares

2002 200,00 282,90

2003 220,00 334,73

2004 240,00 240,00

2005 265,00 265,00

2006 263,60* (1,10 EUR) 263,60* (1,10 EUR)

Dividend policy

One of the most important objectives of the company’s develop-ment strategy is a capital policy based on maximising the compa-ny’s long-term returns, and returns for shareholders. The manage-ment of the company favours stable and balanced dividend growth given the continuous investment development which it achieved from 1996 through 2005.

In line with this policy the company allocates part of its profits (in line with its Articles of Association) to reinvestment in further development, and part (in line with a resolution of the General Meeting) for payment of dividends to shareholders. On average, the company allocates just over 40% of its profit for dividends, the actual percentage varying from year to year depending on the dividends paid on the participating preference shares owned by the government, which are calculated in line with the articles of association. In the past three years the dividends have the been the same for the participating preferences shares and ordinary shares.

* Predlog, ki bo predmet obravnave in sprejema na skupščini predvidoma v drugi polovici junija 2007

* Proposed amount, which will be discussed by the general meeting planned for the second half of June 2007


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Povečan obseg potniškega in tovornega prometa in spremenjena tehnologija dela pri oskrbi letal zaradi razširitve obstoječega terminala so razlogi, ki so vplivali na visoko, kar 12-odstotno rast zaposlenih v letu 2006. Ob zaključku leta je bilo v družbi 372 zaposlenih, 40 več kot v enakem obdobju preteklega leta. Večji obseg prometa smo v prvi polovici leta zagotavljali z nizko stopnjo zaposlovanja, kar je zahtevalo skrajno racionalizacijo dela. Večino novih zaposlitev smo izvedli v drugi polovici leta v službah prometno-tehničnega sektorja, ki zagotavljajo sprejem in odpravo letal, potnikov in tovora. Število zaposlenih se je za 17 povečalo v službi za sprejem in odpravo letal, za 12 v službi za sprejem in odpravo potnikov, za 5 v avio-blagovni službi, 6 pa je bilo novozaposlenih v ostalih službah v družbi.

Stopnja fluktuacije se je v primerjavi s preteklim letom povečala za 0,26 odstot-ka in je bila 2,61-odstotna. Delovno razmerje je prenehalo 10 zaposlenim, osmim sporazumno oziroma po izteku pogodbe o zaposlitvi za določen čas, dva sodelavca pa sta se upokojila.

7. ZAPOSLENI EMPLOYEES

ŠTEVILO ZAPOSLENIH V SEKTORJIH OZIROMA SLUŽBAH V LETU 2006 / NUMBER OF EMPLOYEES BY SECTOR OR SERVICE IN 2006

SektorjiSectors

Povprečno število na osnovi opravljenih urAverage no of employees by hours performed

Stanje 31. 12. 2006Balance at 31.12.2006

Delež po sektorjih %Proportion by sector %

Prometno-tehnični sektorTransport and techincal 271 301 80,9

Komercialni sektorCommercial 14 14 3,8

Finančni sektorFinancial 14 16 4,3

Sektor za informatiko in organizacijoInformation and organisation 7 7 1,9

AeroinženiringAeroengineering 11 11 2,9

Strokovne službe upraveManagement boards specialist services 16 17 4,6

Uprava družbeManagement Board 5 6 1,6

SkupajTotal

338 372 100,0

The increased volume of passenger and cargo traffic and the up-dated technology involved in ground operations due to the expan-sion of the existing terminal has led to the high level of growth in staff in 2006 (a 12% increase). At the end of year, the company had 372 employees, 40 more than at the end of 2005. Over the first half of the year, the company had to face that increased vol-ume with only a slight increase in staff, which meant staff were extremely stretched. Most new staff were engaged in the second half of the year in the transport and technical sectors, which are responsible for aircraft, passenger and cargo handling. The num-ber of employees increased by 17 in the aircraft handing service, by 12 in the passenger handling service, by five in the air cargo service, with six new employees being taken on in the rest of the company.

The fluctuation rate increased by 0.26 percentage points to 2.61% compared to last year. Employment terminated for 10 people, eight by mutual consent or the end of a fixed-term contract, while two people retired.

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Starostna struktura

Veliko število novih zaposlitev je vplivalo na pomladitev kolektiva. Povprečna sta-rost zaposlenih v družbi se je tako kljub majhnemu številu upokojitev v primerjavi s preteklim letom znižala za 0,6 leta in je bila 37,3 leta.

Izobrazbena struktura

Zahtevnejša tehnologija dela vpliva na zaposlovanje ustrezno izobraženega stro-kovnega kadra v operativnih službah prometno-tehničnega sektorja. To se kaže v manjšem deležu zaposlenih s I., II. in III. stopnjo strokovne izobrazbe in večjem deležu zaposlenih s IV. in V. stopnjo strokovne izobrazbe. Nadaljuje se težnja povečevanja deleža zaposlenih z univerzitetno strokovno izobrazbo zaradi poso-dabljanja operativnih procesov, intenzivnega investicijskega ciklusa, aktivnega trženja in izvajanja standardov na področju varovanja civilnega letalstva.

12%do 25 let

up to 25 years

18%od 46 do 55 let

from 46 to 55 years

6%nad 56 let

over 56 years

27%od 36 do 45 let

from 36 to 45 years

37%od 26 do 35 let

from 26 to 35 years

STAROSTNA STRUKTURA ZA LETO 2006 / AGE STRUCTURE

13%II.

17%VII.

5%VI.

20%IV.

42%V.

IZOBRAZBENA STRUKTURA V LETU 2006 / EDUCATIONAL STRUCTURE

2%I.

1%III.

0%VIII.

Age structure

The large number of new staff brought the average employee age down. Despite the small number of retirements, the average age of employees in the company therefore fell by 0.6 of year to 37.3 years compared to last year.

Educational structure

The increasing complexity of technology had an impact on the education structure of the specialist staff in the operational ser-vices of the transport and technical sectors. This is reflected in the lower proportion of employees with 1st to 3rd level education (up to secondary school) and a higher proportion of employees with 4th and 5th level education (technical secondary education). The proportion of employees with a university education contin-ued to increase due to the updating of operational processes, the intense investment cycle, active marketing and implementing civil aviation safety standards.


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Izobraževanje, usposabljanje

Visokokakovostne letališke in spremljajoče komercialne dejavnosti lahko zagotav-ljamo z zaposlenimi, ki nenehno sledijo zahtevam različnih prevoznikov in hitrim tehnološkim spremembam. Sredstva, namenjena izobraževanju in usposabljanju, smo glede na preteklo leto povečali za 36 odstotkov. Za razvoj zaposlenih smo namenili 24,5 milijona tolarjev ali 71 tisoč tolarjev na zaposlenega, kar je 17 tisoč tolarjev več kot v letu 2005. Predvsem se je povečalo število izvedenih tečajev tujih jezikov in izobraževanja s področja varnosti in zdravja pri delu.

Povečan obseg izobraževanja in usposabljanja nam omogočajo tudi sredstva, pri-dobljena v javnem razpisu za sofinanciranje usposabljanja in izobraževanja zapo-slenih iz sredstev Evropskega socialnega sklada. Sredstva koristimo za izvajanje strokovnega izobraževanje doma in v tujini. Perspektivnim zaposlenim pa smo omogočili tudi dodiplomski in podiplomski študij.

Posebno pozornost smo namenili uvajanju novih sodelavcev, ki smo jih z interno izvedenimi uvajalnimi seminarji seznanili z organizacijo družbe, delovanjem letališča in posameznih služb, varnim delom in pomenom zagotavljanja varnosti na letališču. Z načrtnim izvajanjem mentorstva vplivamo na hitrejše vključevanje novih sodelavcev, krajši čas uvajanja in hitro doseganje strokovnih ciljev družbe. Poveča se pripadnost zaposlenih, kar vpliva na boljšo organizacijsko klimo v celoti.

Education and training

We can only provide high quality aviation and commercial sup-port activities, if we have employees that are continually keeping up-to-date with the requirements of the wide range of carriers in the industry and rapid technological change. We increased the amount of funds allocated to education and training by 36% com-pared to last year. We allocated 24.5 million tolars to employee de-velopment, which is 71,000 tolars per employee, 17,000 tolars per person more than in 2005. The main increase was in the number of foreign language courses and health and safety at work training.

The increased volume of education and training was due in part to funds from a public tender for the co-financing of employee train-ing and education from the European Social Fund. We are using the funds for specialist education at home and abroad. We also supported promising staff in undergraduate and post graduate studies.

Close attention has been paid to how we induct new staff, with internal induction seminars to teach them about the organisation of the company, how the airport and individual services function, safety at work, and the importance of security provisions at the airport. By carefully planning mentorship relationships, we are able to include new employees more quickly, reducing induction time, and rapidly achieving the company’s professional aims. This increases staff loyalty, which improves the organisational culture as a whole.

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Razvoj kadrov, zadovoljstvo zaposlenih

Zaposlenim omogočamo razvoj in možnost graditve kariere. Letališki poklici zahtevajo specifična znanja in zakonsko predpisana dovoljenja za delo, ki jih je mogoče pridobiti le z usposabljanjem na delovnem mestu. Naloge na mnogih de-lovnih mestih je mogoče opravljati le ob obvladovanju in poznavanju nalog in pro-cesov na drugih delovnih mestih. Zaposleni imajo velike možnosti napredovanja, v preteklem letu je vertikalno napredovalo 14 zaposlenih.

Rezultati merjenja organizacijske klime in zadovoljstva zaposlenih so nekoliko nižji kot v preteklem letu, ko je bil opazen velik pozitiven premik. Poglavitni ra-zlogi so bili težki delovni pogoji zaposlenih zaradi obnove obstoječega terminala in odločitev, da uveljavitev prenovljene sistemizacije in plačnega sistema prene-semo v leto 2007. Zaposleni ocenjujejo, da naša družba in njeno poslovodstvo so-dita med uspešnejše v okolju, imata velik ugled in zagotavljata varnost zaposlitve. Seznanjeni so s politiko in cilji družbe, zadovoljni so z možnostmi napredovanja in s sproščenimi, enakopravnimi in prijateljskimi medsebojnimi odnosi.

Redni letni razgovori, ki jih izvajamo z vsemi zaposlenimi, nam služijo kot osnova za spodbujanje delovne uspešnosti in načrtovanje osebnega razvoja. Postali so ses-tavni del komunikacije vodij s sodelavci, določanja ciljev in usmerjanja k skupno postavljenim ciljem. Z razgovori pridobimo kakovostne informacije za izvajanje kadrovanja in izobraževanja.

Letališče nudi raznolike možnosti in pogoje za opravljanje prakse dijakom srednjih šol in študentom različnih smeri. Ti so v letu 2006 opravili 2.300 ur obveznega praktičnega usposabljanja in dobili priložnost za spoznavanje delovnih procesov in prenos pridobljenega znanja v delovno okolje. Njihova spoznanja in razmišljanja so zbrana v seminarskih in diplomskih nalogah, ki predstavljajo vir novih idej, pred-logov in videnj razvoja letališča v prihodnje.

Staff development and staff satisfaction

The company actively encourages staff development and oppor-tunities to build a career. Aviation professions require specific knowledge and a legally prescribed work permit that can only be obtained by training in the workplace. The tasks required in many positions can only be performed after having understood and mastered tasks and processes in other positions. Employees have many opportunities for promotion, and in the past year 14 employees receiving promotions up the scale.

The results of organisational culture and employee satisfaction surveys were somewhat lower than the previous year, when there was a large increase. The main reasons were the difficult work-ing conditions due to the reconstruction of the existing terminal, and the decision to postpone the introduction of a new job clas-sification and payment system until 2007. Employees assessed the company and its management as among the more successful, stating that it has a good reputation and takes care to ensure job security. They are familiar with company policy and objectives, satisfied with possibilities of promotion and relaxed, equal, and friendly relations at work.

Regular annual talks held with all employees serve as the basis for promoting excellence at work, and planning personal devel-opment. They have become an essential part of communication between leaders and their staff, for defining their objectives, and moving towards common objectives. These staff talks provide high quality information for recruitment and education.

The airport offers varied possibilities and conditions for work ex-perience for secondary school pupils and practical traineeships for students from various disciplines. In 2006 secondary school pupils and students carried out 2,300 hours of practical training, offering the opportunity to learn about work processes and in some cases to transfer their own knowledge into the work environ-ment. Their knowledge and views are collected in seminar papers and theses, which represent a source of new ideas, proposals and approaches to airport development in the future.


Začetek prenove potniškega terminala napoveduje vstop Slovenije v schengensko območje.The started renovation of the passenger terminal announces Slovenia’s entry to the Schengen area.

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Aerodrom Ljubljana se razvija vse hitreje. Naš razvoj spodbuja tudi razvoj okolja, v katerega smo umeščeni. Poslovna in infrastrukturna razvitost Aerodroma Ljublja-na ima neposreden vpliv tako na lokalno kot na nacionalno okolje. Spodbuja raz-voj novih delovnih mest, podjetništva in infrastrukture. Po podatkih ACI (Airport Council International) naj bi vsak milijon potnikov neposredno ustvaril kar 950 novih delovnih mest. Ob vsem se zavedamo, da ima naša dejavnost na okolje tudi nekatere negativne vplive, zato si prizadevamo za varovanje pred hrupom, skrbno ravnamo z energenti in si prizadevamo za čistejše okolje.

Čutimo odgovornost za razvoj socialnega in kulturnega okolja, zato podpiramo družbene dejavnosti, kulturo in šport. Dejavni smo tudi na področju zdravstvene dejavnosti, prispevamo pa tudi k razvoju znanja in izobraževanja.

Velik poudarek dajemo varstvu pred hrupom

Čeprav glede na število premikov letal še vedno sodimo med manj prometna letališča, se zavedamo, da je omejevanje hrupa in njegovega vpliva na okolje, zno-traj katerega deluje naše letališče, eden ključnih vidikov naše okoljevarstvene dejavnosti. Letala, ki vzletajo in pristajajo na našem letališču, izpolnjujejo pred-pise Evropske unije z vidika hrupa, kar upoštevamo tudi pri pridobivanju novih prevoznikov. Zavod za zdravstveno varstvo Kranj pripravlja elaborat za izvedbo meritev hrupa na letališču. Meritve bodo izvedli v drugi polovici leta 2007 in bodo skladne z zahtevami, priporočili in predpisi Evropske unije.

Širjenje hrupa v naše neposredno okolje omejujemo tudi s pasivnimi protihrupnimi ograjami v obliki gozdnih nasadov na letališkem kompleksu.

Varstvu pred hrupom dajemo velik poudarek pri sprejemanju investicijskih odločitev. Leta 2006 smo se odločili za nakup sistema za merjenje in monitoring hrupa na letališču, kajti le tako je mogoče spremljati raven izpostavljenosti hrupu v bližnji in širši okolici ter pridobiti osnovne kazalce hrupa. S tem bomo ustvarili pogoje za pridobitev okoljevarstvenega dovoljenja za upravljavca vira hrupa. S priporočili in analizami, ki jih bomo pridobili s pomočjo sistema, si bomo pomagali pri odločanju o nadaljnji širitvi letališča oziroma načrtovanju namenske rabe pro-stora okoli letališča.

Aerodrom Ljubljana is developing at increasing pace. Our develop-ment includes the development of the environment that surrounds us. The operational and infrastructural development of Aerodrom Ljubljana has a direct impact on the local and national environ-ment. It promotes the development of new jobs, entrepreneurship and infrastructure. According to data from the ACI (Airport Coun-cil International), every million passengers is directly related to 950 new jobs. Alongside this, we are well aware that our business also has negative impacts on the environment, so we take great care to reduce noise pollution, to handle fuels with great care, and to work to achieve a cleaner environment.

We have a sense of responsibility for the development of a social and cultural environment, so we support social actions, culture and sport. We are also active in the field of health and contribute to the development of knowledge and education.

Special focus on noise protection

Even though in terms of aircraft movements, Ljubljana is not classed as a busy airport, we are aware that limiting noise and its impact on the environment within which our airport operates is one of the key aspects of our environmental activity. The aircraft taking off and landing at our airport comply with EU noise regu-lations, which we also observe when attracting new airlines. The Kranj Health Protection Institute prepares a report on noise mea-surements at the airport. The measurements will be carried out in the second half of 2007, and will be in line with EU requirements, recommendations and regulations.

We restrict the spread of noise into our immediate environment with passive noise barriers in the form of trees planted in the air-port complex.

We also place considerable emphasis on noise protection mea-sures when taking investment decisions. In 2006 we decided to purchase a noise measurement and monitoring system at the air-port, as only in that manner is it possible to monitor the level of noise exposure in the immediate and wider vicinity of the airport, and to acquire basic noise indicators. These will then be used to appy for an environmental protection licence for managing a noise pollution source. Recommendations and analyses acquired from the monitoring system will be used to support decision-mak-ing involving the further expansion of the airport or planning the functional use of land around the airport.

1. VAROVANJE OKOLJA ENVIRONMENTAL PROTECTION

III. Trajnostno poročilo / Sustainability report

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O vplivih na okolje razmišljamo že ob načrtovanju

Možne vplive na okolje preučujemo že pred načrtovanjem razvojnih projektov na letališču. Okolju dajemo velik poudarek že pri izdelavi investicijskih elaboratov in sprejemanju investicijskih odločitev. K temu nas zavezuje tudi Zakon o varstvu okolja. Za projekt izgradnje II. faze novega terminala s spremljajočim programom smo že izdelali poročilo o vplivih na okolje, v katerem so ocenjeni in ovrednoteni vplivi izgradnje tega objekta na okolje ter ugotovljene obremenitve in morebitni škodljivi vplivi in posledice. Poročilo obravnava obremenjenost s hrupom, zrak, ge-ologijo, tla, hidrogeologijo, rastlinstvo in živalstvo, krajinske in vidne značilnosti prostora ter kulturno krajino in obremenjenost okolja z odpadki. Sklepna ocena izdelovalca poročila je, da je izgradnja in obratovanje terminala s spremljajočim programom ob upoštevanju okoljevarstvenih ukrepov sprejemljiva z vidika obre-menitev in sprememb okolja.

Skrbimo za čisto podtalnico

Posebna skrb je namenjena nemotenemu delovanju biološke čistilne naprave (BČN), s katero zagotavljamo kvaliteto prečiščene vode, ki iz letališkega kompleksa odte-ka v podtalnico. Vodimo ustrezne evidence, iz katerih so razvidni opravljeni dnevni pregledi in opažanja ter izvedeni posegi.

V BČN poteka prečiščevanje fekalij, in sicer iz letališkega kompleksa in letal, v njej se zbirajo in prečistijo tudi odpadne tekočine, ki nastajajo pri razledenitvi letal, delno pa so prek nje odvedene tudi meteorne vode.

V letu 2006 smo dogradili novo ponikovalnico, ki omogoča nemoteno ponikovan-je vode iz BČN tudi ob močnejših nalivih. Do leta 2009 skupaj z Občino Cerklje načrtujemo izgradnjo in povezavo kanalizacijskega sistema na javno kanalizaci-jsko omrežje.

Da preprečimo odtekanje olj in maščob v podtalnico ob morebitnih razlitjih, imamo na in ob asfaltnih površinah nameščenih 54 lovilcev olj in maščob, ki jih redno pregledujemo, čistimo in vzdržujemo.

Kvaliteto odpadnih voda iz BČN nadzira tudi Zavod za zdravstveno varstvo Kranj. Iz poročila za leto 2006 izhaja, da so naši rezultati na področju zagotavljanja čistih odpadnih voda nadpovprečni.

Environment impacts considered at the planning stage

Potential environment impacts are studied at the very start of planning development projects at the airport. We place signifi-cant emphasis on the environment when producing investment plans and taking investment decisions, fully respecting the re-quirements of the Environmental Protection Act in this regard. We produced an environmental impact report for the Phase II construction of the new terminal with accompanying programme, and this report contains an assessment and evaluation of the ef-fects of the construction of this facility on the environment and the recognised burdens and possible harmful effects and conse-quences. The report addresses the issues of noise pollution, air, geology, soil, hydrogeology, vegetation and animals, the landscape and visible characteristics of the area, the cultural landscape and the load of waste in the environment. The final assessment of the report’s author is that the construction and operation of the ter-minal with its accompanying programme is acceptable in terms of environmental load and changes, if environmental protection measures are observed.

Ensuring clean groundwater

Special attention is focused on the unimpeded operation of the biological treatment plant (BTP), with which we ensure the quality of the treated water that is discharged from the airport complex into the groundwater. To this end we keep appropriate records of this which show daily inspections, observations and interventions made.

The BTP handles the treatment of sewage, both from the airport complex and from aircraft, while it also collects and treats waste fluid produced by the de-icing of the aircraft, as well as some run-off from precipitation.

In 2006 we constructed a new outlet, which enables a smooth out-flow from the BTP, even in the heaviest downpours. Together with the Municipality of Cerklje, we are planning the construction and connection of the sewerage systems into the public network by 2009.

In order to prevent the outflow of oil and grease into groundwater in case of spills, 54 oil and grease traps have been installed on and around the asphalt surfaces, which are regularly inspected, cleaned and maintained.

The quality of wastewater from BPT is also supervised by the Kranj Health Protection Institute. The 2006 report indicates that our performance in the area of ensuring clean waste water is above average.


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Energy saving

In 2006 we thoroughly cleaned the furnaces and chimneys twice and provided for the electronic calibration of the oil burners, thus reducing air pollution by gases from heating devices for a given heat source.

At present, the entire airport complex, except for the general avia-tion hangar, is heated with fuel oil. In 2006, 296 tonnes of fuel oil were used. Our central supervision system ensures optimum heating and indirectly reduces the quantity of gases polluting the atmosphere. In order to reduce fuel consumption and harmful emissions into the environment, we plan to switch to heating with natural gas in the near future. On completion of the new terminal between 2007 and 2010, we are planning to connect the airport complex to natural gas, which will represent a major step in our environmental efforts.

We are also contributing to the reduction of harmful emissions into the atmosphere through the regular servicing of more than 135 vehicles, and through the gradual replacement of old cooling devices with new systems using environmentally-friendly freon coolants.

Careful handling of waste

We have an agreement with our motor oil supplier for the free removal and disposal of about 2 tonnes of waste oil. We also col-lect waste batteries, battery components, tyres, neon lighting, oil filters and oily rags, which are removed by authorised disposal companies.

We also pursue an environmentally-friendly policy for outdated computer hardware. Once a year we collect it and deliver it to our computer equipment supplier, which separates the raw materials and recycles them into new raw materials to manufacture new products.

We pay special attention to collecting and removing municipal waste, which is transported to the waste dump at Tenetiše. We are pleased that in 2006 we succeeded in maintaining the same vol-ume of municipal waste as in 2004, approximately 3,400m3. This is partly due to the fact that discarded stationery, newspapers and cardboard packaging are collected separately, something the company has been doing for several years now.

Taking preventive action

We take part in a wide range of environmental seminars and edu-cation programmes. We monitor EU and Slovenian environmental regulations on an ongoing basis. The nature of our business and related legal requirements mean that we employ 32 professional fire-fighters, who are trained and appropriately equipped to take action in the event of a fire or fuel leakage. We continuously en-hance their expertise with in-house training, and we take steps to ensure that our employees in general are aware of these issues.

Varčujemo z energijo

Leta 2006 smo dvakrat temeljito očistili peči in dimnike ter poskrbeli za elektron-sko nastavitev oljnih gorilcev, s čimer smo ob danem toplotnem viru zmanjšali ob-remenjevanje zraka s plini iz kurilnih naprav.

Trenutno je celotni letališki kompleks, razen hangarja splošnega letalstva, ogrevan s kurilnim oljem, ki smo ga v letu 2006 porabili 296 ton. S centralnim nadzornim sistemom zagotavljamo optimalno ogrevanje in s tem posredno zmanjšujemo količino plinov, ki obremenjujejo ozračje. Da bi zmanjšali porabo energentov in emisije škodljivih snovi v okolje, v bližnji prihodnosti načrtujemo prehod na og-revanje s plinom. Ob izgradnji novega terminala v letih 2007–2010 načrtujemo priključitev letališkega kompleksa na zemeljski plin, s čimer bomo naredili pomem-ben korak v naših okoljskih prizadevanjih.

K zmanjševanju izpusta škodljivih emisij v zrak prispevamo tudi z rednim servi-siranjem 135 vozil, pa tudi s postopnim nadomeščanjem starih hladilnih naprav z novimi, ki vsebujejo okolju prijazne freone.

Pazljivi smo z odpadki

Z dobaviteljem motornih olj imamo sklenjen dogovor za brezplačen odvoz in uničenje približno 2 ton odpadnih motornih olj. Zbiramo tudi odpadne akumulator-je, baterijske vložke, gume, neonske svetilke, oljne filtre in krpe, ki jih prevzemajo za to pooblaščena podjetja.

Prijazno do okolja se obnašamo tudi v zvezi z dotrajano računalniško strojno op-remo. Zbiramo jo in jo enkrat na leto dostavimo dobavitelju računalniške opreme, ki poskrbi za ločevanje surovin in njihovo kasnejše recikliranje v nove surovine, namenjene za izdelavo novih izdelkov.

Posebej skrbimo za zbiranje in odvoz komunalnih odpadkov, ki jih odvažamo na deponijo v Tenetišah. Zadovoljni smo, da smo v letu 2006 uspeli ohraniti enako prostornino komunalnih odpadkov kot leta 2004, in sicer približno 3.400 kubičnih metrov. Delno k temu pripomore tudi ločeno zbiranje pisarniškega in časopisnega papirja ter kartonske embalaže, ki ga izvajamo že nekaj let.

Delujemo preventivno

Udeležujemo se raznih seminarjev in izobraževanj s področja okoljske dejavnosti. Tekoče spremljamo predpise Evropske unije in Republike Slovenije s tega področja. Zaradi narave naše dejavnosti in zakonskih zahtev, povezanih s tem, zaposlujemo 32 poklicnih gasilcev, ki so usposobljeni in ustrezno opremljeni za ukrepanje ob morebitnem požaru ali razlitju goriva. Njihovo znanje sprotno dopolnjujemo tudi z internim izobraževanjem, skrbimo pa tudi za splošno osveščenost zaposlenih na tem področju.

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Usklajeni smo z mednarodnimi standardi

Tudi v letu 2006 so usklajenost naših varnostnih ukrepov z različnimi standardi oziroma zahtevami preverjale različne mednarodne in domače organizacije. Tako je konec maja na ljubljanskem letališču potekala presoja varovanja civilnega letalstva v sklopu programa ICAO – USAP (International Civil Aviation Organization – Uni-versal Security Audit Program), avgusta pa nas je obiskala inšpekcija evropske komisije. V obeh primerih so bili rezultati dobri in so pokazali, da so varnostni ukre-pi na letališču Ljubljana usklajeni z mednarodnimi standardi in z zahtevami Evrop-ske komisije. Podobnih preverjanj je bilo še več – s strani Ministrstva za promet RS, bodisi v obliki inšpekcij ali upravno-strokovnih nadzorov.

V skladu z Uredbo komisije (ES) št. 1138/2004 smo razmejili varnostna območja na nadzorovanem območju letališča in vzpostavili nove varnostne kontrolne točke za vozila in osebje.

Ministrstvo za promet je potrdilo letalski varnostni program, ki je osnovni varnos-tni dokument vsakega letališča, letalskega prevoznika in države. Na podlagi tega dokumenta smo pripravili program za obvladovanje kakovosti na področju varovan-ja civilnega letalstva ter program usposabljanja za zaposlene in varnostnike.

Prevzeli smo varnostne preglede potnikov

S spremembo in dopolnitvijo zakona o letalstvu so bili izpolnjeni pogoji, ki so omogočili, da se izvajanje osnovnih varnostnih pregledov potnikov in njihove ročne prtljage preda v izvajanje obratovalcem letališč. V ta namen smo oblikovali delovno skupino na ravni predstavnikov Direktorata za civilno letalstvo – Ministrstva za promet, Generalne policijske uprave – Ministrstva za notranje zadeve in obrato-valcev letališč. Primarna naloga delovne skupine je bila, da poskrbi za uspešen in nemoten prenos omenjenih nalog na obratovalce letališč. Za Aerodrom Ljubljana je bil to velik izziv, saj je izpolnjevanje te zakonske zahteve imelo za posledico prila-goditev obstoječih operativnih postopkov novim razmeram ter zaposlitev in us-posabljanje dodatnih 35 varnostnikov. Naloge pregleda potnikov in njihove ročne prtljage smo od policije prevzeli 6. novembra.

Istega dne je začela veljati tudi Uredba komisije št. 1546/2006, ki omejuje vnos tekočin na letala. Uredba je nastala kot odgovor evropske komisije na spodlete-lo zaroto teroristov, ko so ti s pomočjo tekočih eksplozivov želeli razstreliti več potniških letal na relaciji Velika Britanija–Združene države Amerike. Novi ukrepi so v marsičem spremenili naše potovalne navade in zahtevali ustrezno prilagoditev potnikov in tistih, ki te ukrepe izvajajo. Z dobrimi operativnimi pripravami zno-traj družbe, obveščanjem javnosti in s pomočjo medijev so bili potniki pravočasno seznanjeni z novimi ukrepi, tako da na letališču zaradi uvedbe novih ukrepov nismo imeli večjih težav.

In compliance with international standards

In 2006 a number of international and domestic organisations again checked the compliance of our security measures with vari-ous standards and requirements. At the end of May an inspection of civil aviation standards took place as part of an ICAO - USAP programme (International Civil Aviation Organisation – Universal Security Audit Programme), while in August a European Commis-sion inspection was carried out. In both cases the results were positive and indicated that Ljubljana Airport’s security measures were in compliance with international standards and European Commission requirements. Similar checks were also carried out by the Slovenian Ministry of Transport, in the form of inspections and administrative and professional supervision.

In accordance with Commission Regulation (EC) No 1138/2004, we demarcated security zones in the airside zone of the airport and set up new security control points for vehicles and person-nel. The Ministry of Transport approved the airport security pro-gramme, which is the basic security document for every airport, air carrier and finally each country. On the basis of this document, we prepared a quality management programme for civil aviation safety standards, and a training programme for employees and security staff.

Responsibility for security screening of passengers

The amended Aviation Act set out conditions whereby the imple-mentation of basic security screening of passengers and their hand baggage can be handed over to airport operators. To this end, a working group was formed, bringing together representa-tives from the Ministry of Transport’s Civil Aviation Directorate, the Ministry of the Interior’s General Police Directorate and air-port operators. The working group’s main task has been to ensure the successful and smooth transition of the relevant tasks to the airport operator. This was a major challenge for Aerodrom Ljublja-na, since meeting the legal requirements meant adapting existing operative procedures to the new conditions and the employment and training of an additional 35 security personnel. The Police handed over the implementation of security screening of passen-gers and hand baggage on 6 November.

On the same day, Commission Regulation (EC) No 1546/2006, which restricts the carrying of liquids on board aircraft, entered into force. The Regulation was issued as the European Commis-sion’s response to the failed plot in which terrorists intended to use liquid explosives to blow up a number of passenger flights from the United Kingdom to the United States. The new measures made major changes to travelling practice and required adjust-ments from passengers, as well as those implementing the new measures. Sound operative preparations within the company, pub-lic information and media assistance ensured that passengers were informed of the new measures in due time, to ensure that there were no major problems at the airport because of the imple-mentation of the new measures.

2. VARNOST CIVILNEGA LETALSTVA CIVIL AVIATION SECURITY

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Preverjamo svojo usposobljenost

Eden večjih in zelo kompleksnih preventivnih projektov leta 2006 je bila izved-ba vaje “Letalska nesreča 2006” na območju letališča Ljubljana. Namen vaje je bil preveriti in izpopolniti organiziranost, pripravljenost in usposobljenost sil za zaščito, reševanje in pomoč ob veliki nesreči v letalskem prometu, tako na državni kot letališki ravni.

Pri varovanju pred trki s pticami si pomagamo s sokoli

Del področja varnosti civilnega letalstva predstavlja tudi varovanje letal pred trkom s pticami. Na podlagi dogovora med Aerodromom Ljubljana in Sokolarsko zvezo Slovenije smo poleg obstoječih ukrepov na tem področju uvedli še sokolarstvo, ki je zelo dobrodošel dopolnilni ukrep in je v svetu ena od zelo priznanih, a zahtevnih metod, s katero se zagotavlja varovanje letal pred pticami.

Zaposlene redno izobražujemo

V drugi polovici leta smo začeli z rednimi mesečnimi usposabljanji za zaposlene s področja varovanja civilnega letalstva. Predavanj se je udeležilo 589 zaposlenih, ki imajo dostop na varovana območja letališča. Leta 2006 smo pridobili še drugega ICAO inštruktorja. Usposabljanje zaposlenih je zagotovilo za strokovne in kompe-tentne kadre, zato bomo temu področju tudi v prihodnje namenjali veliko pozor-nosti.

Checking our readiness

A major, and very complex, preventive project in 2006 was the “2006 Aviation Accident” exercise on the Ljubljana airport com-plex. The purpose of the exercise was to check and improve the organisation, readiness, and qualification of emergency services for protection and rescue in major incidents in aviation at the na-tional and airport level.

Using hawks to protect against air strikes

Another area that relates to the safety of civil aviation is the protection of aircraft from bird strikes. Based on an agreement between Aerodrom Ljubljana and the Slovenian Falconry Asso-ciation, in addition to existing measures, we introduced action by the falconry association which offered very welcome additional assistance, adding one of the world’s best recognised but most demanding methods for protecting aircraft against bird strikes.

Regular employee training

In the second half of 2006 we started regular civil aviation safety training on a monthly basis for employees. A total of 589 employ-ees with access to security-restricted areas participated in lec-tures. In 2006 we brought an additional ICAO instructor on board. Employee training is a guarantee for professional and competent staff, so we will be paying even more attention to this field in fu-ture.


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3. NADZOROVANJE KAKOVOSTI DELA QUALITY ASSURANCE

Kakovost našega dela se nadzoruje z dveh vidikov, in sicer s strani mednarodnih organizacij in standardov za letališča kot infrastrukturnega objekta in s strani le-talskih prevoznikov pod okriljem standardov, sprejetih v njihovi krovni organizaciji IATA, ki nadzorujejo kakovost zemeljske oskrbe letal, potnikov in stvari.

Letališče kot infrastrukturni objekt določajo standardi ICAO (International Civil Aviation Organisation) in priporočila, ki postavljajo temelje infrastrukture, or-ganizacije dela, poslovanja in nadzora. Annex 14 (Aerodromes) podrobno določa načrtovanje, izgradnjo in vzdrževanje celotne letališke infrastrukture, Annex 9 (Faciliation) opisuje zmožnosti in postopke za prevoz potnikov, prtljage in tovora v zračnem prometu, Annex 16 (Enviromental) okoljevarstvene zahteve in Annex 17 (Security) nujne varnostne zahteve.

Kakovostna zemeljska oskrba je temelj varnega izvajanja zračnega prometa, stan-darde zemeljske oskrbe določa tudi združenje letalskih prevoznikov IATA (Interna-tional Air Transport Association). IATA vsako leto izda posodobljen AHM (Airport Handling Manual), ki predstavlja osnovno vodilo za celotno zemeljsko oskrbo le-tal. Aerodrom Ljubljana je članica posebnega združenja izvajalcev zemeljske os-krbe, to je IGHC (International Ground Handling Council). Vsako leto se dejavno udeležujemo letne konference, kjer se izmenjajo izkušnje in predstavijo novosti v zvezi z izvajanjem in zaračunavanjem zemeljske oskrbe.

Varnostne standarde določa tudi ECAC (European Civil Aviation Conference), ka-tere združeno telo je JAA (Joint Aviation Authotity). Ta postavlja združene zahteve (JAR) v letalstvu, za njihovo dosledno izvedbo skrbijo letalski prevozniki. Njihovi strokovnjaki opravljajo redne in natančno predpisane inšpekcijske preglede kako-vosti poslovanja izvajalcev zemeljske oskrbe, torej tudi Aerodroma Ljubljana.

The quality of our work is subject to monitoring from two major aspects – compliance with international organisations and stan-dards for airports as infrastructure, and checks by air carriers in relation to standards adopted by their umbrella organisation, the IATA, which supervises the quality of groundhandling services for aircraft, passengers and cargo.

As an infrastructural facility, the airport is subject to ICAO (Inter-national Civil Aviation Organisation) standards and recommenda-tions, which establish the foundations for infrastructure, work or-ganisation, operations and oversight. Annex 14 (Aerodromes) lays down in detail the planning, construction and maintenance of the entire airport infrastructure, Annex 9 (Facilitation) describes the capacities and procedures for the carriage of passengers, bag-gage and cargo by air, Annex 16 (Environmental Protection) sets out the environmental requirements and Annex 17 (Security) the vital security requirements.

High-quality ground operations are the basis for safe air trans-port, and standards of groundhandling operations are also pro-vided by the IATA (International Air Transport Association). Every year the IATA issues an updated AHM (Airport Handling Manual), which is the primary guidebook for all ground operations with air-craft. Aerodrom Ljubljana is an active member of the IGHC (Inter-national Ground Handling Council). We participate every year in its annual conferences, which provide an opportunity to exchange experience and present innovations in the implementation and charging for groundhandling services.

Security standards are also set out by the European Civil Aviation Conference (ECAC), of which the Joint Aviation Authority (JAA) is an associated body. The JAA issues the Joint Aviation Require-ments (JAR), while air carriers are responsible for their consistent implementation. Their experts perform regular inspections, de-fined in detail, of the quality of groundhandling service providers’ operators, including Aerodrom Ljubljana.

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Finančno podpiramo najrazličnejše kulturne in športne dogodke v gorenjski regiji in širše. Pri sponzorstvih izbiramo med aktivnostmi, kjer je mogoča naša promocija, bodisi po načelu izbire za nas zanimive ciljne publike ali po teritorialnem načelu. Svoj interes vidimo predvsem v sodelovanju pri tistih športnih in kulturnih deja-vnostih, ki nam s prireditvami prinašajo tudi dodatne potnike in lete.

Tako smo bili v preteklem letu pokrovitelj nekaterih vrhunskih športnikov in športnih dogodkov, med njimi svetovnega mladinskega prvenstva v nordijskih dis-ciplinah, svetovnega prvenstva v streljanju na glinene golobe, podprli smo Atletsko športno zvezo Olimpija, Maraton Franja, kolesarsko Veliko nagrado Šenčurja in še nekatera športna društva in nadarjene posameznike.

S sponzorskimi akcijami šolam in krajevnim skupnostim na območju občin, na ozemlju katerih leži letališče, smo zaokrožili svoje družbeno odgovorno trženje.

Doniramo humanitarnim, kulturnim in zdravstvenim ustanovam v Kranju in širši okolici. Kranjski porodnišnici smo pomagali do prenosnega monitorja za spreml-janje prezgodaj rojenih otrok, donirali smo društvu Zarja, ki pri okrevanju pomaga ponesrečencem s poškodbami glave.

4. SODELOVANJE Z OKOLJEM PART OF THE COMMUNITY

We provide financial support to a whole range of culture and sport-ing events in the local Gorenjska region, and further afield. When selecting projects to sponsor, we chose activities that can promote the company, either by reaching target groups we would like to communicate with, or covering specific territories or regions. We mainly see our interest lying in cooperation with sporting and cul-tural events that will lead to us attracting more passengers.

In 2006 we sponsored a number of top sportspeople and sporting events, including the youth world Nordic skiing championship, and the world clay-pigeon shooting competition. We supported the Olimpija Athletics Association, the Franja Marathon, the Šenčur Cycling Grand Prix, and a number of sports societies and talented individuals.

Our socially-responsible marketing programme also included sponsorship for schools and local communities in the municipali-ties close to the airport.

We make donations to humanitarian, cultural and healthcare in-stitutions in Kranj and the wider region. We also contributed to the purchase of a portable monitor for premature babies by the Kranj Maternity Hospital, and made a donation to the Zarja soci-ety, which assists people who have suffered head injuries.


Naš cilj je, da postane Slovenija letalska destinacija.Our goal is to make Slovenia an air travel destination.

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Uprava potrjuje računovodske izkaze družbe Aerodrom Ljubljana, d.d., za poslovno leto, ki se je končalo na dan 31. 12. 2006. Izkazi so izdelani v skladu z določili mednarodnih standardov računovodskega poročanja.

Uprava potrjuje, da so bile pri izdelavi računovodskih izkazov dosledno upora-bljene ustrezne računovodske usmeritve, da so bile računovodske ocene izdelane po načelu previdnosti in dobrega gospodarjenja in da je letno poročilo resnična in poštena slika premoženjskega stanja družbe in izidov njenega poslovanja v letu 2006.

Uprava je odgovorna tudi za ustrezno vodenje računovodstva, za sprejem us-treznih ukrepov za zavarovanje premoženja in drugih sredstev ter potrjuje, da so računovodski izkazi skupaj s pojasnili izdelani na podlagi predpostavke o nadaljn-jem poslovanju družbe ter v skladu z veljavno zakonodajo, določili mednarodnih standardov računovodskega poročanja in pojasnili, ki jih je sprejel upravni odbor.

Zg. Brnik, 22. marec 2007

Zmago Skobir Vinko Možečlan uprave predsednik uprave

The Management Board has approved the financial statements for the company Aerodrom Ljubljana, d.d., for the financial year ending 31 December 2006. The statements have been produced in accordance with the provisions of the International Financial Reporting Standards.

The Management Board confirms that appropriate accounting guidelines were consistently applied in compiling the financial statements, that the accounting estimates were made in accor-dance with the principles of prudence and due diligence, and that the annual report provides a true and fair picture of the finan-cial standing of the company and the outcomes of its operation in 2006.

The Management Board is also responsible for ensuring that the accounting is conducted correctly, for adopting appropriate mea-sures to insure property and other assets, and confirms that the financial statements, together with the notes, have been compiled on going-concern basis, and in line with current legislation, the provisions of the International Financial Reporting Standards and the notes approved by the Management Board.

Zg. Brnik, 22 March 2007

Zmago Skobir Vinko MožeMember of the President of the Management Board Management Board

1. IZJAVA POSLOVODSTVA MANAGEMENT DECLARATION

IV. Računovodsko poročilo / Financial report

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2. REVIZORJEVO POROČILO AUDITOR'S REPORT


77

v tisoč tolarjih / SIT thousand

Pojasnila / Notes 2006 2005

SREDSTVAASSETS 26.085.428 24.066.542

ADOLGOROČNA SREDSTVANON-CURRENT ASSETS

22.325.284 20.581.451

Neopredmetena sredstva Intangible assets 5.1.1 93.736 72.518

- dolgoročne premoženjske pravice- non-current property rights 56.231 72.518

- neopredmetena sredstva v pridobivanju- intangible assets in acquisition 37.505 0

Nepremičnine, naprave in opremaProperty, plant and equipment 5.1.2 13.693.099 12.147.966

- zemljišča- land 2.299.795 1.602.539

- zgradbe- buildings 7.972.100 8.289.497

- naprave in oprema- plant and equipment 1.789.623 1.829.029

- nepremičnine, naprave in oprema v pridobivanju- property, plant and equipment in acquisition 1.631.581 426.901

Naložbe v pridružene družbeInvestments in associates 5.1.3 300.000 300.000

Dolgoročne finančne naložbeNon-current financial investments 5.1.4 8.188.970 8.014.665

- za prodajo razpoložljiva finančna sredstvafinancial investments available-for-sale 7.681.655 7.392.463

- dolgoročna posojilalong-term loans 507.315 622.202

Odložene terjatve za davekDeferred tax receivables 5.1.5 49.479 46.302

B KRATKOROČNA SREDSTVACURRENT ASSETS 3.760.144 3.485.091

ZalogeInventories 50.888 60.942

Kratkoročne finančne naložbeCurrent financial investments 5.1.6 2.406.811 2.585.700

- kratkoročna posojilashort-term loans 2.406.811 5.585.700

Kratkoročne poslovne terjatveCurrent trade receivables 1.149.695 712.228

- kratkoročne poslovne terjatve do kupcev- current trade receivables 5.1.7 888.097 677.193

- kratkoročne poslovne terjatve do drugih- other current receivables 5.1.8 261.598 35.035

Denarna sredstvaCash funds 142.733 121.202

Aktivne časovne razmejitveDeferred expenses and accrued revenues

10.017 5.019

3. RAČUNOVODSKI IZKAZI, IZDELANI PO MSRP IFRS COMPLIANT FINANCIAL STATEMENTS

3.1 BILANCA STANJA na dan 31. 12. 2006 / BALANCE SHEET on 31 December 2006


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OBVEZNOSTI DO VIROV SREDSTEVLIABILITIES 26.085.428 24.066.542

A KAPITALEQUITY 5.1.9 23.286.155 21.864.803

Vpoklicani kapitalCalled-up capital 3.796.527 3.796.527

- osnovni kapitalshare capital 3.796.527 3.796.527

Kapitalske rezerveEquity reserves 5.820.295 5.820.295

Rezerve iz dobičkaProfit reserves 10.340.558 9.293.141

- zakonske rezervelegal reserves 961.682 961.682

- statutarne rezervereserves under the articles of association 1.835.445 2.400.463

- druge rezerve iz dobička- other profit reserves 7.543.431 5.930.996

Presežek iz prevrednotenjaRevalutaion surplus 1.881.557 1.563.420

Zadržani čisti dobičekRetained net profit 1.447.218 1.391.420

- preneseni čisti poslovni izidnet profit or loss brought forward 603.500 651.757

- čisti poslovni izid poslovnega letanet profit (or loss) for financial year 843.718 739.663

B REZERVACIJENET PROVISIONS 5.1.10 622.067 678.134

Rezervacije za jubilejne nagrade, odpravnineProvisions for loyalty bonuses and severance pay 190.856 185.208

Dolgoročne pasivne časovne razmejitveNon-current accrued expenses and deferred revenues 431.211 492.926

C DOLGOROČNE OBVEZNOSTINON-CURRENT LIABLITIES 687.015 675.261

Dolgoročne poslovne obveznostiNon-current accounts payables 22.940 1.044

Odložene obveznosti za davekDeferred tax liabilities 5.1.11 664.075 674.217

E KRATKOROČNE OBVEZNOSTICURRENT LIABLITIES 5.1.12 1.490.191 848.344

Kratkoročne poslovne obveznostiCurrent operating liabilites 1.486.779 845.138

- kratkoročne poslovne obveznosti do dobaviteljev- current accounts payable 1.002.736 418.060

- druge kratkoročne poslovne obveznostiother current accounts payables 199.279 177.055

- obveznosti za davek od dobička- liabilities for tax on profit 284.764 250.023

Pasivne časovne razmejitveAccrued expenses and deferred revenues 3.412 3.206

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3.2 IZKAZ POSLOVNEGA IZIDA ZA LETO 2006 / 2006 INCOME STATEMENT v tisoč tolarjih / SIT thousand


Poslovni prihodkiSales revenues 6.869.948 6.301.889

Prihodki od prodajeSales revenues 5.2.1 6.799.517 6.231.456

Drugi poslovni prihodkiOther operating revenues 5.2.2 70.431 70.433

Poslovni odhodkiOperating expenses 4.507.795 4.384.414

Stroški blaga, materiala in storitevCosts of products, materials and services 1.344.768 1.202.595

Stroški materialaMaterial costs 338.814 312.370

Stroški storitevService costs 5.2.3 1.005.954 890.225

Stroški delaLabour costs 5.2.4 2.041.753 1.920.707

AmortizacijaDepreciation and amortisation 5.2.5 1.067.640 1.223.547

Drugi poslovni odhodkiOther operating expenditure 53.634 37.565

POSLOVNI IZID IZ POSLOVANJAOPERATING PROFIT (OR LOSS) 2.362.153 1.917.475

Neto finančni prihodki/odhodkiNet financial revenues/expenses 429.719 483.835

Finančni prihodkiFinancial revenues 5.2.6 439.228 496.921

Finančni odhodkiFinancial expenses 5.2.7 9.509 13.086

POSLOVNI IZID PRED OBDAVČITVIJOPRE-TAX PROFIT 2.791.872 2.401.310

Davek iz dobičkaTax on profit 5.2.8 736.780 493.109

Odloženi davkiDeferred taxes 5.2.9 -54.203 -13.011

ČISTI POSLOVNI IZID OBRAČUNSKEGA OBDOBJANET PROFIT (OR LOSS) FOR FINANCIAL YEAR 2.109.295 1.921.212

Osnovni čisti dobiček na delnico v tolarjihNet profit per share (tolars) 836 738

Popravljeni čisti dobiček na delnico v tolarjihDiluted net profit per share (tolars) 556 506


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3.3 IZKAZ DENARNIH TOKOV od 1. 1. do 31. 12. 2006 / CASH FLOW STATEMENT for 1 January to 31 December 2006


2006 2005

A DENARNI TOKOVI PRI POSLOVANJUCASH FLOWS FROM OPERATING ACTIVITIES

a) Postavke izkaza poslovnega izidaCash flow statement items 2.752.090 2.662.128

Poslovni prihodkiOperating revenues 6.873.444 6303.449

Poslovni odhodki brez amortizacijeOperating expenses, excl. amortisation and depreciation -3.438.777 -3.161.223

Davki iz dobička in drugi davki, ki niso zajeti v poslovnih odhodkihTax on profits and other taxes not included in operating expenses -682.577 -480.098

b) Spremembe čistih obratnih sredstev poslovnih postavk bilance stanjaChanges in net working capital of balance sheet operating items 121.061 -554.446

Začetne manj končne poslovne terjatveChange in trade receivables -437.467 201.626

Začetne manj končne aktivne kratkoročne časovne razmejitveChange in deferred expenses and accrued revenues -4.998 -3.520

Začetne manj končne odložene terjatve za davekChange in deferred tax receivables -3.177 -1.790

Začetne manj končne zalogeChange in inventories 10.054 6.862

Končni manj začetni poslovni dolgoviChange in operating liabilities 622.652 -744.456

Končne manj začetne pasivne kratkoročne časovne razmejitveChange in accrued expenses and deferred revenues -55.861 -55.137

Končne manj začetne odložene obveznosti za davekChange in deferred tax liabilities -10.142 41.969

c) Čisti denarni tok iz poslovanjaNet cash flows from operations 2.873.151 2.107.682

B DENARNI TOKOVI PRI NALOŽBENJUCASH FLOWS FROM INVESTMENT ACTIVITIES

a) Prejemki pri naložbenjuProceeds from investment 7.847.407 11.998.604

Prejemki od obresti in deležev v dobičku, ki se nanašajo na naložbenje Proceeds from interest and profit participation relating to investment 434.397 491.613

Prejemki od odtujitve neopredmetenih sredstevProceeds from disposal of intangible assets 0 7.514

Prejemki od odtujitve nepremičnin, naprav in opremeProceeds from disposal of property, plant and equipment 1.270 88.486

Prejemki od odtujitve dolgoročnih finančnih naložbProceeds from disposal of non-current financial investments 580.376 3.242.964

Prejemki od odtujitve kratkoročnih finančnih naložbProceeds from disposal of current financial investments 6.831.364 8.168.027

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2006 2005

b) Izdatki pri naložbenjuInvestment outflows -9.692.948 -13.145.522

Izdatki za pridobitev neopredmetenih sredstevAcquisition of intangible assets -44.507 -27.075

Izdatki za pridobitev nepremičnin, naprav in opremeAcquisition of property, plant and equipment -2.594.689 -2.486.925

Izdatki za pridobitev dolgoročnih finančnih naložbAcquisition of non-current financial investments -801.092 -3.265.667

Izdatki za pridobitev kratkoročnih finančnih naložbAcquisition of current financial investments -6.252.660 -7.365.855

c) Čisti denarni tok iz naložbenjaNet cash flows from investment -1.845.541 -1.146.918

C DENARNI TOKOVI PRI FINANCIRANJUCASH FLOWS FROM FINANCING ACTIVITIES

a) Prejemki pri financiranjuProceeds from financing activities 0 0

b) Izdatki pri financiranjuFinancing outflows -1.006.079 -912.087

Izdatki za odplačila kratkoročnih finančnih obveznostiRepayment of current financial liabilities 0 -921

Izdatki za izplačila dividendDividend payments -1.006.079 -911.166

c) Čisti denarni tok iz financiranjaNet cash flows from financing -1.006.079 -912.087

Č KONČNO STANJE DENARNIH SREDSTEV IN NJIHOVIH USTREZNIKOVCLOSING BALANCE OF CASH AND CASH EQUIVALENTS 142.733 121.202

x) Denarni izid v obdobjuNet cash flows for period 21.531 48.677

y) Začetno stanje denarnih sredstev in njihovih ustreznikovOpening balance of cash and cash equivalents 121.202 72.525


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3.4 IZKAZ GIBANJA KAPITALA / STATEMENT OF CHANGES IN EQUITY

Osnovni kapitalShare capital

Kapitalske rezerveCapital reserves

Zakonske rezerveLegal reserves

STANJE 1. 1. 2006BALANCE AS AT 1 JAN 2006 3.796.527 5.820.295 961.682

Vnos čistega poslovnega izida poslovnega letaEntry of net profit for financial year

Sprememba poštene vrednosti finančnih sredstev razpoložljivih za prodajoChange in fair value of financial investments available-for-sale

Razporeditev čistega dobička po sklepu upraveDistribution of net profit based on management board decision

Razporeditev čistega dobička po sklepu skupščineDistribution of net profit based on general meeting resolution

Druge prerazporeditve sestavin kapitalaOther reclassifications of capital components

Razdelitev za dividendeFor dividends

STANJE 31. 12. 2006BALANCE AS AT 31 DEC 2006 3.796.527 5.820.295 961.682










Statutarne rezerve Reserves under articles

of association

Druge rezerve iz dobička

Other profit reserves

Presežek iz prevrednotenja

Revaluation surplus

Preneseni čisti poslovni izidNet profit (or loss)

brought forward

Čisti poslovni izid poslovnega leta

Net profit (or loss) for financial year

Skupaj kapitalTotal capital

2.400.463 5.930.996 1.563.420 651.757 739.663 21.864.803

0 0 843.718 843.718

0 318.137 318.137

421.859 843.718 1.265.577

787.700 -787.700 0

739.663 -739.663 0

-986.877 -18.983 -220 -1.006.080

1.835.445 7.543.431 1.881.557 603.500 843.718 23.286.155

2.415.626 4.327.256 1.403.850 1.153.691 816.040 20.694.967

739.663 737.873

159.570 159.570

393.849 787.700 220 1.181.769

816.040 -816.040 0

816.040 -816.040 0

-409.012 -502.154 -911.166

2.400.463 5.930.996 1.563.420 651.757 739.663 21.864.803

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Osnovni kapitalShare capital

Kapitalske rezerveCapital reserves

Zakonske rezerveLegal reserves


















Statutarne rezerve Reserves under articles

of association

Druge rezerve iz dobička

Other profit reserves


Revaluation surplus

Preneseni čisti poslovni izidNet profit (or loss)

brought forward

Čisti poslovni izid poslovnega leta

Net profit (or loss) for financial year

Skupaj kapitalTotal capital

2.400.463 5.930.996 1.563.420 651.757 739.663 21.864.803

0 0 843.718 843.718

0 318.137 318.137

421.859 843.718 1.265.577

787.700 -787.700 0

739.663 -739.663 0

-986.877 -18.983 -220 -1.006.080

1.835.445 7.543.431 1.881.557 603.500 843.718 23.286.155

2.415.626 4.327.256 1.403.850 1.153.691 816.040 20.694.967

739.663 737.873

159.570 159.570

393.849 787.700 220 1.181.769

816.040 -816.040 0

816.040 -816.040 0

-409.012 -502.154 -911.166

2.400.463 5.930.996 1.563.420 651.757 739.663 21.864.803


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4.1 Poročajoča družba

Aerodrom Ljubljana, d.d., (v nadaljevanju družba), je registrirana pravna oseba s sedežem v Sloveniji. Naslov registriranega sedeža je Zgornji Brnik 130a, 4210 Brnik-aerodrom.

Na 9. seji skupščine delničarjev 30. 6. 2005 je bil sprejet sklep, da bo družba v obdobju naslednjih petih let, šteto od 1. 1. 2006, sestavljala računovodske izkaze in poročila iz prvega odstavka 60. člena ZGD-1 v skladu z Mednarodnimi standardi računovodskega poročanja (MSRP).

Uprava družbe je računovodske izkaze potrdila dne 22. 3. 2007.

4.2 Podlaga za sestavitev

Izjava o skladnostiRačunovodski izkazi so sestavljeni v skladu z MSRP, kot jih je sprejela Evropska unija. Gre za prve računovodske izkaze družbe, pripravljene v skladu z MSRP 1.

Pojasnilo o tem, kako je prehod na MSRP vplival na prikazano premoženjsko-finančno stanje, poslovni izid in denarni tok družbe, je navedeno v poglavju 6 "Pre-hod na MSRP".

Podlaga za merjenjeRačunovodski izkazi so pripravljeni ob upoštevanju izvirne vrednosti, razen za pro-dajo razpoložljiva finančna sredstva, ki so vrednotena po pošteni vrednosti.

Metode, uporabljene pri merjenju poštene vrednosti, so opisane v nadaljevanju pri posameznih kategorijah.

Funkcijska in predstavitvena valutaPriloženi konsolidirani računovodski izkazi so sestavljeni v tolarjih, torej v funk-cijski valuti družbe. Vse računovodske informacije, predstavljene v tolarjih, so zaokrožene na tisoč enot.

Uporaba ocen in presojPoslovodstvo mora pri sestavi računovodskih izkazov podati ocene, presoje in pred-postavke, ki vplivajo na uporabo računovodskih usmeritev in na izkazane vrednosti sredstev, obveznosti, prihodkov ter odhodkov. Dejanski rezultati lahko od teh ocen odstopajo.

4. POMEMBNEJŠE RAČUNOVODSKE USMERITVE SIGNIFICANT ACCOUNTING POLICIES

4.1. Reporting company

Aerodrom Ljubljana d.d. (the company), is registered as a legal person domiciled in Slovenia; its registered address is Zgornji Brnik 130a, 4210 Brnik-Aerodrom.

At its 9th general meeting of shareholders on 30 June 2005 a resolution was passed stating that for the next five years, from 1 January 2006, the company would compile the financial state-ments and reports required pursuant to the first paragraph of Ar-ticle 60 of the Companies Act in accordance with the International Financial Reporting Standards (IFRS).

The company’s Management Board approved the financial state-ments on 22 March 2007.

4.2. Basis for compilation

Statement of compliance The financial statements were compiled in accordance with the IFRS, as adopted by the European Union, and are the first finan-cial statements the company has prepared in accordance with those standards.

A clarification on the transition to the IFRS and its impact on the company’s financial position, financial performance and cash flows is provided in Chapter 6 “Transition to the IFRS”.

Basis of preparationThe financial statements were prepared on a historical cost basis, except for financial instruments available-for-sale, which are dis-closed at their fair value.

The methods used to measure fair value are described below by category.

Functional and reporting currency These consolidated financial statements have been complied in tolars, which is the company’s functional currency. All financial data are compiled in tolars and rounded to units of one thousand tolars.

Use of estimates and judgmentsIn compiling financial statements, the management must make estimates, judgments and assumptions that affect the application of accounting policies and the reported amounts of assets, li-abilities, income and expenses. The actual results may differ from these estimates.

The estimates and assumptions must be reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the pe-riod in which the estimate is revised, and all future years affected by the revision.

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Ocene in navedene predpostavke je potrebno stalno pregledovati. Popravki računovodskih ocen se pripoznajo za obdobje, v katerem se ocena popravi, ter za vsa prihodnja leta, na katera popravek vpliva.

Podatki o pomembnih ocenah negotovosti in kritičnih presojah, ki jih je poslovod-stvo pripravilo v procesu izvrševanja računovodskih usmeritev in ki najbolj močno vplivajo na zneske v računovodskih izkazih, so opisane v naslednjih točkah:

> Točka 5.1.10 – Rezervacije; > Točka v poglavju 5 – Finančni inštrumenti in obvladovanje tveganj.

4.3 Pomembne računovodske usmeritve

Zaradi prehoda na MSRP družba uporablja iste računovodske usmeritve v svoji začetni bilanci stanja v skladu z MSRP na dan 1. januar 2005 in v vseh obdobjih, predstavljenih v priloženih računovodskih izkazih. Družba je dosledno uporabila spodaj opredeljene računovodske politike za vsa obdobja, ki so predstavljena v priloženih računovodskih izkazih.

> Naložba v pridruženo družboV družbi Aerodrom Portorož, d.o.o., je družba Aerodrom Ljubljana, d.d., 30,46-odstotni lastnik, vendar nima prevladujočega vpliva. Naložba je vrednotena po nabavni vrednosti.

Tuja valutaPosli, izraženi v tuji valuti, se preračunajo po srednjem tečaju Banke Slovenije na dan posla. Denarna sredstva in obveznosti, izražene v tuji valuti na dan bilance stanja, se preračunajo v tolarje po takrat veljavnem srednjem tečaju banke Slo-venije. Tečajne razlike se pripoznajo v izkazu poslovnega izida. Nedenarne posta-vke in obveznosti, ki so izmerjene po izvirni vrednosti v tuji valuti, se pretvorijo po menjalnem tečaju na dan posla.

Finančni inštrumenti

> Neizpeljani finančni inštrumentiNeizpeljani finančni inštrumenti vključujejo naložbe v kapital in dolžniške vred-nostne papirje, poslovne in druge terjatve, denarna sredstva in njihove ustreznike, prejeta in dana posojila ter poslovne in druge obveznosti.

Data on significant estimates of uncertainties and critical as-sumption prepared by the management in the process of imple-menting the accounting policies, and which have the greatest impact on the figures in the financial statements, is described in the following items:

> Item 5.1.10. – Provisions> Item in Chapter 5 – Financial instruments and risk management

4.3. Significant accounting policies

Due to the transition to the IFRS, the company has applied the same accounting policies to the initial IFRS-compliant balance statement as at 1 January 2005, and in all periods reported in these financial statements. The company consistently applied the accounting policies set out below for all periods reported in the financial statements.

> Investment in an associated companyAerodrom Ljubljana d.d. has a 30.46% stake in Aerodrom Portorož d.o.o., but does not have a dominant influence. The investment is valued at its historical cost.

Foreign currencyTransactions expressed in foreign currency are converted at the Bank of Slovenia’s middle exchange rate on the day the transaction took place. Cash and cash equivalents and liabilities denominated in foreign currencies on the balance sheet date are converted to tolars on that date, according to the Bank of Slovenia’s middle rate. Foreign exchange differences are recognised in the income statement. Non-cash items and liabilities measured according to historical cost in a foreign currency are converted using the ex-change rate on the day of the transaction.

Financial instruments

> Non-derivative financial instrumentsNon-derivative financial instruments include investments in eq-uity and debt instruments, operating and other receivables, cash and cash equivalents, loans issued and granted, and operating and other liabilities.


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Neizpeljani finančni inštrumenti se na začetku pripoznajo po njihovi pošteni vrednosti, povečani za (inštrumente, ki prek poslovnega izida niso pripoznani po pošteni vrednosti) stroške, ki se neposredno nanašajo na posel, z izjemo spodaj navedenega. Po začetnem pripoznanju se neizpeljani finančni inštrumenti izmerijo na način, ki je opredeljen v nadaljevanju. Finančni inštrument se pripozna, če družba postane stranka pogodbenih določil inštrumenta. Pripoznanje finančnih sredstev se odpravi, ko pogodbene pravice družbe do denarnih tokov potečejo ali če družba finančno sredstvo prenese na drugo stranko, vključno obvladovanje ali vsa tveganja, in koristi sredstva. Nakupi in prodaje, opravljene na reden oziroma običajen način, se obračunavajo na dan posla – to je datum, ko se družba zaveže kupiti ali prodati sredstvo. Pripoznanje finančnih obveznosti se odpravi, ko pogodbene obveznosti družbe potečejo, prene-hajo ali prekinejo.

Denarna sredstva in njihovi ustrezniki obsegajo denar v blagajni in vloge na vpo-gled.

Obračunavanje finančnih prihodkov in odhodkov je opisano v točki "Finančni pri-hodki in finančni odhodki”.

> Za prodajo razpoložljiva finančna sredstvaNaložbe družbe v kapitalske vrednostnice so razvrščene kot finančna sredstva, ki so na razpolago za prodajo. Po začetnem pripoznanju so te naložbe izmerjene po pošteni vrednosti. Spremembe poštene vrednosti so pripoznane neposredno v kapitalu. Ko se pripoznanje naložbe odpravi, se s tem povezani dobiček ali izguba prenese v poslovni izid. Izgube zaradi oslabitve (glej točko “Oslabitev sredstev”) ter pozitivne in negativne tečajne razlike pri denarnih sredstvih na razpolago za prodajo (glej točko “Tuja valuta”) so pripoznane v poslovnem izidu.

> Dana in prejeta posojila Dana in prejeta posojila se ob začetnem pripoznanju izkazujejo po njihovi pošteni vrednosti, zmanjšani za pripadajoče stroške posla. Po začetnem pripoznanju pa se posojila izkazujejo po odplačni vrednosti, pri čemer se morebitne razlike med izvirno in odplačno vrednostjo izkazujejo v izkazu poslovnega izida v obdobju odplačevanja posojila, pri čemer se uporabi metoda efektivne obrestne mere.

> OstaloOstali neizpeljani finančni inštrumenti so merjeni po odplačni vrednosti z uporabo metode efektivnih obresti, zmanjšani za znesek izgub zaradi oslabitve.

> Izpeljani finančni inštrumentiDružba ne uporablja izpeljanih finančnih inštrumentov za varovanje pred tveganji. Prav tako ne hrani ali izdaja izpeljanih finančnih inštrumentov za namene trgo-vanja.

Non-derivate financial instruments are initially recognised at their fair value, increased by (instruments that are not recognised at fair value in the income statement) costs directly relating to the transaction, except those set out below. After initial recogni-tion, non-derivative financial instruments are measured using the method defined below. A financial instrument is recognised if the company becomes party to contractual provisions of an instrument. Financial instru-ments are derecognised when the company’s contractual rights to cash flows expire, or if the company transfers the financial asset to another party, including control or all risks and rewards of the asset. Purchases and sales made in a regular or normal manner are charged on the transaction date, i.e. the date the company undertakes to sell or purchase the asset. Financial liabilities are derecognised, when the company’s contractual obligation expires, ceases or is terminated.

Cash and cash equivalents includes cash on hand and in demand deposits.

The calculation of financial revenues and expenses is described under the item “Financial revenues and financial expenses”.

> Financial investments available-for-saleCompany investments in equity securities are classified as fi-nancial assets available-for-sale. After initial recognition, these investments are measured according to fair value. Changes in fair value are directly recognised in equity. When investments are derecognised, the related profit or loss is transferred to the in-come statement. Losses due to impairment (see “Impairment”), and positive and negative exchange differences in cash assets available-for-sale (see “Foreign currency”) are recognised in the income statement.

> Loans issued and grantedLoans issued and granted are initially recognised according to their fair value, reduced by related transaction costs. After initial recognition, the loans are declared at repayment value, where any differences between the historical and repayment value are de-clared in the income statement in the period of loan repayment, using the effective interest rate method.

> OthersOther non-derivate financial instruments are measured at repay-ment value using the effective interest rate method, reduced by losses due to impairment.

> Derivative financial instrumentsThe company does not use derivative financial instruments to hedge against risk. It also does not retain or issue derivative fi-nancial instruments for trading purposes.

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Nepremičnine, naprave in oprema

> Pripoznanje in merjenjeNepremičnine, naprave in oprema so izkazani po svoji nabavni vrednosti zmanjšani za amortizacijski popravek in nabrano izgubo zaradi oslabitve. Nabavna vrednost zajema stroške, ki se neposredno pripisujejo nabavi sredstev. Nabavna vrednost v družbi izdelanega sredstva zajema stroške materiala, neposredne stroške dela, posredne proizvodne stroške in (po potrebi) začetno oceno stroškov razgradnje in odstranitve nepremičnin, naprav in opreme ter obnovitev mesta, na katerem so le-te bile.

Ob prehodu na MSRP smo upoštevali izjemo (MSRP 1.17), ki podjetjem namesto njihove uporabe za nazaj omogoča, da lahko, kot domnevno nabavno vrednost nepremičnin, naprav in opreme na dan prehoda, uporabijo prevrednoteno vred-nost, skladno s prejšnjimi nacionalnimi standardi. Nepremičnine, ki se gradijo za prihodnjo uporabo kot naložbene nepremičnine, so obravnavane kot nepremičnine, naprave in oprema ter so izkazane po njihovi nabavni vrednosti do datuma dokončne izgradnje, ko postanejo naložbena nepremičnina.

Deli nepremičnin, naprav in opreme, ki imajo različne dobe koristnosti, se obračunavajo kot posamezne nepremičnine, naprave in oprema.

V skladu z MSRP 40 smo izvedli presojo, ali katera od naših nepremičnin more-biti sodi med naložbene nepremičnine. Ugotovili smo, da so vse naše nepremičnine lastniško uporabljene oziroma ne izpolnjujejo zahtevanih kriterijev in jih zato ne obravnavamo kot naložbene nepremičnine.

> Kasnejši stroškiKasneje nastali stroški v zvezi z opredmetenimi osnovnimi sredstvi se izkazuje-jo kot stroški vzdrževanja ali povečanja nabavne vrednosti sredstva, če njihova vrednost povečuje prihodnje ekonomske koristi. Kot povečanje nabavne vrednosti nepremičnin, naprav in opreme priznamo tudi zamenjave posameznih delov, če so pri tem izpolnjena sodila za pripoznavanje. Za knjigovodsko vrednost delov, ki so zamenjani, pa pripoznanje odpravimo.

> AmortizacijaAmortizacija se obračuna po metodi enakomernega časovnega amortiziranja ob upoštevanju dobe koristnosti vsake posamezne nepremičnine, naprave in opreme. Zemljišča se ne amortizirajo.

Ocenjene dobe koristnosti sredstev so naslednje:

Gradbeni objekti 20-40 letRačunalniška oprema 2-5 letMotorna vozila 4-12 letDruge naprave in oprema 5-10 let

Amortizirljivi znesek sredstva se določi po odštetju preostale vrednosti. Ocenju-jemo, da preostala vrednost nepremičnin, naprav in opreme po končani dobi ko-ristnosti ne predstavlja bistvenega deleža sredstva, zato je ne pripoznamo. Ta se pregleda ob koncu vsakega poslovnega leta in če so pričakovanja drugačna od prejšnjih ocen, se sprememba obravnava kot sprememba računovodskih ocen.

Property, plant and equipment

> Recognition and measurementProperty, plant and equipment are disclosed at their historical cost, reduced by a depreciation adjustment and any cumulative loss due to impairment. The historical cost includes costs directly related to purchase of the asset. The historical cost of assets pro-duced within the company include material costs, direct labour costs, indirect production costs, and (if required) the initial esti-mate of costs for deconstructing and removing property, plant and equipment and renovating the area in which they were located.

On the transition to the IFRS, we took into account the exemp-tion (IFRS 1.17), that permits companies to use a revalued cost in accordance with the previous national standards as a deemed historical cost for property, plant and equipment at the date of transition, instead of retrospective application of the standard. Property being constructed for future use, and investment in plant and equipment are reported as property, plant and equip-ment, and are disclosed according to their historical cost until the date construction is concluded, when they become investment property.

Parts of property, plant and equipment with different useful life are reported as individual property, plant and equipment.

In accordance with IFRS 40, we judged whether any of our prop-erty could be considered as investment property. We found that all property was subject to own-use or did not meet the required criteria, and was therefore not reported as investment property.

> Subsequent costsCosts arising subsequently in relation to tangible fixed assets are disclosed as maintenance costs or increases in the historical cost of assets, if their value is increased by future economic benefits. Replacement of individual parts are recognised as increases in the historical cost of property, plant and equipment, if the criteria for recognition are met. The carrying amount of replaced parts is derecognised.

> DepreciationDeprecation is calculated using the straight-line method of depre-ciation, taking into account the useful life of property, plant and equipment individually. Land is not subject to depreciation.

The estimated useful life falls within the following ranges:

Buildings 20-40 yearsComputer equipment 2-5 yearsMotor vehicles 4-12 yearsOther plant and equipment 5-10 years

The depreciable amount of assets is determined after deducting the residual value. We assess the residual value of property, plant and equipment after the expiry of useful life does not represent a significant proportion of the asset, so it is not recognised. This policy is reviewed at the end of each financial year, and if expecta-tions differ from previous assessments, the changes are reported as a change in accounting estimates.


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Neopredmetena sredstva

Neopredmetena sredstva družbe so izkazana po nabavni vrednosti, zmanjšani za amortizacijski popravek vrednosti in nabrane izgube zaradi oslabitve.

> Kasnejši stroškiKasnejši izdatki v zvezi z neopredmetenimi sredstvi so usredstveni le v primerih, ko povečujejo bodoče gospodarske koristi, ki izhajajo iz sredstva, na katero se izdatki nanašajo. Vsi ostali stroški so pripoznani v poslovnem izidu kot odhodki, takoj ko do njih pride.

> AmortizacijaAmortizacija se obračuna po metodi enakomernega časovnega amortiziranja ob upoštevanju dobe koristnosti neopredmetenih sredstev, razen če so te dobe nedoločene. Na dan bilance stanja družba preizkusi, ali gre za oslabitve neopred-metenega sredstva z nedoločeno dobo koristnosti. Amortizacija ostalih neopredmetenih sredstev se začne, ko je sredstvo na razpo-lago za uporabo. Ocenjene dobe koristnosti za računalniške programe in licence znašajo od 5 do 10 let.

Zaloge

Med zalogami izkazujemo zaloge materiala za vzdrževanje in zaloge materiala, ki se uporablja pri opravljanju storitev.

Ob začetnem pripoznanju se ovrednotijo po nabavni vrednosti, ki jo sestavlja-jo nakupna cena, povečana za uvozne in druge nevračljive nakupne dajatve, ter neposredni stroški nabave, zmanjšani za dobljene popuste. Za vrednotenje porabe zalog se uporablja metoda tehtanih povprečnih cen.

Oslabitev sredstev

Če je zmanjšanje poštene vrednosti finančnega sredstva, ki je na razpolago za prodajo, pripoznano neposredno v kapitalu in obstajajo nepristranski dokazi, da je sredstvo oslabljeno, je potrebno nabrano izgubo, pripoznano neposredno v kapi-talu, odstraniti iz kapitala in jo pripoznati v poslovnem izidu, četudi pri finančnem sredstvu ni bilo opravljeno pripoznanje. Znesek nabrane izgube, ki se odstrani iz kapitala in se pripozna v poslovnem izidu, je razlika med nabavno vrednostjo in sprotno pošteno vrednostjo, zmanjšana za izgubo zaradi oslabitve takšnega finančnega sredstva, ki je bila prej pripoznana v poslovnem izidu.

Družba na datum poročanja preveri knjigovodske vrednosti sredstev, razen odloženih terjatev za davek, in sicer zato, da oceni, ali obstaja kako znamenje os-labitve sredstev. Če taki znaki obstajajo, je potrebno oceniti nadomestljivo vred-nost sredstva.

Oslabitev sredstva ali denar ustvarjajoče enote se pripozna, če njegova knjigovod-ska vrednost presega njegovo nadomestljivo vrednost. Oslabitev se izkaže v izkazu poslovnega izida.

Intangible assets

Intangible assets are disclosed at their historical cost, reduced by an amortisation adjustment and any cumulative loss due to im-pairment.

> Subsequent costsSubsequent expenses relating to intangible assets are only capi-talised in cases when the future economic benefits of the assets to which the expenses refer, increase. All remaining costs are recognised in the income statement as expenses, as they arise.

> AmortisationAmortisation is calculated using the straight-line method of am-ortisation, taking into account the useful life of intangible assets, unless the lifespan is not defined. On the balance sheet date, the company determines whether any impairment of intangible assets with an undefined useful life has occurred. The amortisation of remaining intangible assets commences when the asset is avail-able for use. The estimated useful life for computer software and licences is between 5 and 10 years.

Inventories

Inventories include inventories of maintenance materials and in-ventories of material used for services.

Inventories are initially recognised at historical cost, which com-prises the purchase price plus import duties and non-refundable purchase taxes, and the direct costs of acquisition, minus any discounts obtained. The weighted average prices method is em-ployed to value the use of inventories.

Impairment

If a decrease in the fair value of a financial asset available-for-sale has been recognised directly in equity and there is objective evidence that the asset is impaired, the cumulative loss is recog-nised in equity, removed from equity and recognised in the income statement, even if the financial asset has not been derecognised. The amount of cumulative loss removed from equity and recog-nised in the income statement is the difference between the his-torical cost and the current fair value, reduced by the impairment loss on that financial asset previously recognised in the income statement.

On the reporting date, the company verifies the carrying amount of assets, except for deferred tax receivables, by assessing wheth-er any indication of impairment exists. If such indications exist, the recoverable amount of the asset must be estimated.

An impairment loss is recognised when the carrying amount of an asset or cash-generating unit exceeds its recoverable amount. The impairment is disclosed in the income statement.

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Terjatve se zaradi oslabitve prevrednotijo, če njihova knjigovodska vrednost pre-sega njihovo pošteno vrednost, to je udenarljivo vrednost. Terjatve, za katere se domneva, da ne bodo poravnane v rednem roku oziroma v celotnem znesku, se štejejo kot dvomljive, če se je zaradi njih začel sodni postopek, pa kot sporne. Pri oblikovanju popravkov vrednosti terjatev presojamo izterljivost vsake posamezne terjatve. Za znesek oblikovanih popravkov vrednosti pripoznamo poslovne odhodke tekočega obdobja.

Zaloge se oslabijo, če izkazana knjigovodska vrednost presega njihovo tržno vred-nost. S tržno vrednostjo je mišljena nadomestitvena vrednost, razen če je ta večja od čiste iztržljive vrednosti (v takem primeru se šteje kot tržna vrednost čista iztržljiva vrednost). Za zmanjšanje vrednosti zalog zaradi oslabitve pripoznamo poslovne odhodke.

> Izračun nadomestljive vrednostiNadomestljiva vrednost naložb v finančne naložbe v posesti do zapadlosti v plačilo in terjatve, izkazane po odplačni vrednosti, se izračunajo kot sedanja vrednost pričakovanih prihodnjih denarnih tokov, razobresteni po izvirni veljavni obrestni meri (to je po veljavni obrestni meri, izračunani pri začetnem pripoznanju teh sred-stev). Kratkoročne terjatve se ne diskontirajo.

Nadomestljiva vrednost ostalih sredstev je njihova poštena vrednost, zmanjšana za stroške prodaje, oziroma vrednost pri uporabi, in sicer tista, ki je višja. Pri določanju vrednosti sredstva pri uporabi se pričakovani prihodnji denarni tokovi diskontirajo na njihovo sedanjo vrednost z uporabo diskontne mere pred obdavčitvijo, ki kaže sprotne tržne ocene časovne vrednosti denarja in tveganja, ki so značilna za sred-stvo. Pri sredstvih, ki ne ustvarjajo v veliki meri neodvisnih finančnih pritokov, se določi nadomestljivo vrednost za denar ustvarjajočo enoto, ki ji sredstvo pripada.

> Odprava izgube zaradi oslabitvePri finančnih naložbah v posesti do zapadlosti v plačilo ali terjatvah, izkazanih po odplačni vrednosti, se izguba zaradi oslabitve sredstev odpravi, če je naknadno povečanje nadomestljive vrednosti sredstva mogoče nepristransko povezati z do-godkom, ki je nastal po pripoznanju oslabitve.

Izguba zaradi oslabitve, ki so pripoznane za finančno naložbo v kapitalski inštrument, razvrščene kot na razpolago za prodajo, se ne odpravijo prek po-slovnega izida. Če se poštena vrednost dolgovnega inštrumenta, razvrščenega kot takšnega na razpolago za prodajo, poveča in je mogoče povečanje nepristransko povezati z dogodkom, ki je nastal po pripoznanju izgube zaradi oslabitve v poslov-nem izidu, je potrebno izgubo zaradi oslabitve odpraviti in znesek odprave pri-poznati v poslovnem izidu. Izgube zaradi oslabitve, pripoznane pri drugih sredstvih, je potrebno odpraviti, če so se spremenile ocene, uporabljene za ugotovitev nadomestljivih vrednosti sred-stev.

Izguba zaradi oslabitve sredstva se odpravi do višine, do katere povečana knjigo-vodska vrednost sredstva ne preseže knjigovodske vrednosti, ki bi bila ugotovljena po odštetju amortizacijskega odpisa, če pri sredstvu v prejšnjih letih ne bi bila pripoznana izguba zaradi oslabitve.

Receivables are revalued for reason of impairment if their carry-ing amount exceeds their fair value (i.e. the recoverable amount). Receivables for which it is assumed they will not be settled by the due deadline or in the full amount are deemed dubious re-ceivables, while if judicial proceedings have commenced they are deemed disputed receivables. The collectibility of each receivable is assessed when the adjustment is made. Current operating ex-penses are recognised according to their value adjustment.

Inventories are impaired, if their carrying amount exceeds their market value. Market value means the replacement cost, unless this is higher than the net realisable value (in which case the net realisable value is deemed the market value). Operating revenues are recognised as reductions in inventory value due to impair-ment.

> Calculating the recoverable amountThe recoverable amount of investments in held-to-maturity secu-rities and receivables disclosed at repayment value is calculated as the present value of estimate future cash flows, discounted at the original effective interest rate (i.e. the effective interest rate, computed at the initial recognition of these assets). Current re-ceivables are not discounted.

The recoverable amount of other assets is the greater of their net selling price and value at use. In assessing value in use, the es-timated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assess-ments of the time value of money and the risk specific to the asset. For assets that do not generate largely independent cash inflows, the recoverable amount is determined for the cash-generating unit to which the asset belongs.

> Reversal of impairmentAn impairment loss in respect of a held-to-maturity security or receivable disclosed at repayment value is reversed if the subse-quent increase in the recoverable amount can be related objec-tively to an event occurring after the impairment loss was recog-nised.

An impairment loss in respect of an investment in an equity in-strument classified as available-for-sale is not reversed via profit or loss. If the fair value of a debt instrument classified as avail-able-for-sale increases and the increase can be objectively related to an event occurring after the impairment loss was recognised in the income statement, the impairment shall be reversed and the amount of the reversal shall be recognised in the income state-ment.

In respect of other assets, an impairment loss is reversed if there has been a change in the estimates used to determine the recover-able amount.

An impairment loss is only reversed to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised in previous years.


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Kapital

Celotni kapital podjetja je njegova obveznost do lastnikov, ki zapade v plačilo, če podjetje preneha delovati. Sestavljajo ga osnovni kapital, kapitalske rezerve, rezerve iz dobička, zadržani čisti dobiček, ki je sestavljen iz prenesenega čistega dobička prejšnjih let in iz čistega dobička ali izgube tekočega leta in presežek iz prevrednotenja. Osnovni kapital družbe je razdeljen na navadne (imenske prosto prenosljive) delnice in na prednostne participativne delnice.

> Prednostne delniceSestavni del osnovnega kapitala so prednostne participativne delnice z omejeno glasovalno pravico in se glasijo na ime Republike Slovenije. Prednostna participa-tivna delnica z omejeno glasovalno pravico se lahko preoblikuje v imensko navadno delnico na pisno zahtevo lastnika, o čemer odloča skupščina družbe po postopku za spremembo in dopolnitev statuta. Prenos imenskih prednostnih participativnih delnic z omejeno glasovalno pravico se izvaja skladno z določbami posebnega za-kona. Prednostnim participativnim delnicam z omejeno glasovalno pravico pripada dividenda, ki je sestavljena iz fiksnega in gibljivega dela. Pod pogoji, določenimi v statutu, je donos prednostnih delnic enak donosu navadnih delnic.

> DividendeDividende se pripoznajo kot obveznost v obdobju, v katerem je bil sprejet sklep skupščine delničarjev o izplačilu dividend.

Rezervacije

Družba v bilanci stanja izkaže rezervacije, če ima zaradi preteklega dogodka se-danjo pravno ali posredno obvezo in če obstaja verjetnost, da bo za poravnavo te obveze potreben odtok dejavnikov, ki omogočajo gospodarske koristi. Kjer je učinek časovne vrednosti denarja bistven, se znesek rezervacije določi z diskon-tiranjem pričakovanih prihodnjih denarnih tokov po meri pred obdavčitvijo, ki kaže obstoječe ocene časovne vrednosti denarja in po potrebi tudi tveganja, ki so značilna za obveznost.

> Rezervacije za odpravnine in jubilejne nagradeDružba je v skladu z zakonskimi predpisi, kolektivno pogodbo in internim pravil-nikom zavezana k plačilu jubilejnih nagrad zaposlencem ter odpravnin ob njihovi upokojitvi, za kar so oblikovane dolgoročne rezervacije. Druge pokojninske ob-veznosti ne obstajajo.

Rezervacije so oblikovane v višini ocenjenih bodočih izplačil za odpravnine in jubi-lejne nagrade, diskontirane na dan bilance stanja. Izračun je bil narejen za vsakega zaposlenega tako, da se upošteva stroške odpravnine ob upokojitvi ter strošek vseh pričakovanih jubilejnih nagrad do upokojitve. Izbrana diskontna obrestna mera znaša 4,7-odstotno letno in predstavlja realno obrestno mero. Izračun je z uporabo projicirane enote pripravil potrjeni aktuar.

Equity

The total capital of the company is its liabilities to the owners, which mature for payment, if the company ceases to be a going concern. It comprises the share capital, capital reserves, profit reserves, retained earnings or previous losses, and the revalua-tion surplus. The company’s share capital is divided into ordinary (freely transferable, bearer) shares and participating preference shares.

> Preference sharesThe participating preference shares with limited voting rights, whose bearer is the Republic of Slovenia, are a component part of share capital. Participating preference shares with limited vot-ing rights can be transformed into ordinary bearer shares on the bearer’s written request, on which the general meeting decides by means of procedures to amend the Articles of Association. The transfer of registered participating preference shares with lim-ited voting rights shall be carried out in accordance with the pro-visions of a specific law. A dividend comprising a fixed portion and variable portion shall pertain to participating preference shares with limited voting rights. The yield of preference shares is the same as the yield of ordinary shares, under the conditions defined by the Articles of Association.

> DividendsDividends are recognised as a liability in the period in which the general meeting adopted the resolution on dividend payment.

Provisions

The company discloses provisions in its balance sheet, if due to a past event it has a current legal or constructive obligation and if it is probable that an outflow of economic benefits will be re-quired to settle the obligation. Where the effect of the time value of money is material, the value of the provision is determined us-ing the estimated future cash flows using a pre-tax discount rate that reflects current market assessments of the time value of the money and the risk specific to the liability.

> Provisions for severance pay and loyalty bonusesIn accordance with legislation, the collective agreement, and in-ternal rules, the company is committed to the payment of loyalty bonuses to employees and severance pay on retirement, and provi-sions are formed for this purpose. There are no other obligations relating to pensions.

The provisions are determined by discounting, at the balance sheet date, the estimated future benefits in respect of severance pay and loyalty bonuses. The calculation is made for each employee, taking into account the costs of severance pay on retirement and the cost of all expected loyalty bonuses until retirement. The se-lected discounted interest rate was 4.7% per annum, and reflects the real interest rate. The calculation uses projections prepared by a certified actuary.

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Prihodki

Izkaz poslovnega izida je izkazan po različici I, kjer se poslovni izid ugotavlja sto-penjsko. Stroški so izkazani po naravnih vrstah.

> Prihodki iz opravljenih storitevPrihodki iz opravljenih storitev se v izkazu poslovnega izida pripoznajo, ko so storitve opravljene. Prihodki se ne pripoznajo, če se pojavi negotovost glede poplačljivosti nadomestila z njim povezanih stroškov.

> Državne podporeDržavne podpore se v začetku pripoznajo v računovodskih izkazih kot odloženi pri-hodki (dolgoročne pasivne časovne razmejitve), ko obstaja sprejemljivo zagotovilo, da bo podjetje podpore prejelo in da bo izpolnilo pogoje v zvezi z njimi. Državne podpore, prejete za kritje stroškov, se pripoznavajo strogo dosledno kot prihodki v obdobjih, v katerih nastajajo zadevni stroški, ki naj bi jih le-te nadomestile. S sredstvi povezane državne podpore se v izkazu poslovnega izida pripoznavajo strogo dosledno med drugimi prihodki iz poslovanja v dobi koristnosti zadevnega sredstva.

Finančni prihodki in finančni odhodki

Finančni prihodki obsegajo prihodke od obresti od naložb, prihodke od dividend, prihodke od odsvojitve za prodajo razpoložljivih finančnih sredstev, spremembe poštene vrednosti finančnih sredstev po pošteni vrednosti skozi poslovni izid, pozi-tivne tečajne razlike, ki se pripoznajo v izkazu poslovnega izida. Prihodki iz obresti se pripoznajo ob njihovem nastanku z uporabo metode efektivne obrestne mere. Prihodki od dividend se v izkazu poslovnega izida pripoznajo na dan, ko je uvel-javljena delničarjeva pravica do plačila, kar je pri podjetjih, ki kotirajo na borzi, praviloma datum, ko pravica do tekoče dividende preneha biti povezana z delnico.

Finančni odhodki obsegajo negativne tečajne razlike, spremembe poštene vred-nosti finančnih sredstev po pošteni vrednosti skozi poslovni izid, izgube zaradi oslabitve vrednosti finančnih sredstev, ki se pripoznajo v izkazu poslovnega izida. Stroški izposojanja se v izkazu poslovnega izida pripoznajo po metodi efektivnih obresti.

Revenues

Version I of the income statement is used, which provides a se-quential report. Costs are disclosed in accordance with their func-tion.

> Revenues from servicesRevenues from the provision of services are recognised in the in-come statement when the services are completed. Revenues are not recognised if there is uncertainty regarding payment for the services and related costs.

> State aidState aid is initially recognised in financial statements as de-ferred income (non-current accrued expenses and deferred rev-enues), when there is an acceptable assurance that the company will receive the aid, and the related conditions will be fulfilled. State aid received to cover costs is recognised consistently, and very strictly, as revenues for the period in which the costs they are intended to cover arise. Funds connected to state aid are strictly and consistently recognised in the income statement under other operating revenues during the useful life of the asset.

Financial revenues and expenses

Financial revenues include interest income, dividend income, reve-nues from disposal of financial assets available-for-sale, changes in fair value of financial assets via the income statement, positive exchange differences recognised in the income statement. Inter-est income are recognised on origin using the effective interest rate method. Dividend income is recognised in the income state-ment on the day the shareholder’s right to payment is applied, which for stock-exchanged listed companies is generally the date on which the right to a current dividend ceases to be related to the share.

Financial expenses include negative exchange differences, chang-es in the fair value of financial assets via the income statement, losses due to impairment of financial assets recognised in the income statement. The costs of borrowing are recognised in the income statement using the effective interest method.

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Davek od dobička

Davek od dobička oziroma izgube poslovnega leta obsega odmerjeni in odloženi davek. Davek od dobička se izkaže v izkazu poslovnega izida, razen v tistem delu, v katerem se nanaša na postavke, ki se izkazujejo neposredno v kapitalu in se zato izkazuje med kapitalom.

Odmerjeni davek je davek, za katerega se pričakuje, da bo plačan od obdavčljivega dobička za poslovno leto ob uporabi davčnih stopenj, uveljavljenih ali v bistvu uvel-javljenih na datum bilance stanja, in morebitne prilagoditve davčnih obveznosti v povezavi s preteklimi poslovnimi leti.

Pri izkazovanju odloženega davka se uporablja metoda obveznosti po bilanci stan-ja, pri čemer se upoštevajo začasne razlike med knjigovodsko vrednostjo sredstev in obveznostmi za potrebe finančnega poročanja in zneskov za potrebe davčnega poročanja. Znesek odloženega davka temelji na pričakovanem načinu povrnitve ozi-roma poravnave knjigovodske vrednosti sredstev in obveznosti ob uporabi davčnih stopenj, uveljavljenih ali v bistvu uveljavljenih na datum bilance stanja.

Odložena terjatev za davek se pripozna samo v obsegu, za katerega obstaja ver-jetnost, da bo na razpolago prihodnji obdavčljivi dobiček, v breme katerega bo v prihodnje mogoče uporabiti odloženo terjatev. Odložene terjatve za davek se zmanjšajo za znesek, za katerega ni več verjetno, da bo mogoče uveljaviti davčno olajšavo, povezano s sredstvom.

Čisti dobiček na delnico (EPS)

Družba pri navadnih delnicah izkazuje osnovno dobičkonosnost delnice in poprav-ljeno dobičkonosnost delnice. Osnovna dobičkonosnost delnice se izračuna tako, da delimo dobiček oziroma izgubo, ki pripada navadnim delničarjem, s tehtanim povprečnim številom navadnih delnic v poslovnem letu. Popravljeni dobiček del-nice pa se izračunava s prilagoditvijo dobička oziroma izgube, ki pripada navadnim delničarjem, in tehtanega povprečnega števila navadnih delnic v poslovnem letu za učinek vseh popravljalnih (možnostnih) navadnih delnic; te predstavljajo pred-nostne participativne delnice, ki jih je mogoče zamenjati za navadne delnice.

Poročanje po odsekih

Družba nima opredeljenih ne področnih ne območnih odsekov. V podjetju ne oprav-ljamo storitev, ki se bistveno razlikujejo po tveganjih in donosih. Družba opravlja svoje storitve le na eni lokaciji. Opravlja različne storitve, vendar je ključno tve-ganje pri vseh storitvah enake vrste – zadostno število potnikov.

Corporate income tax

Corporate income tax for the financial year includes taxes levied and deferred. Corporate income tax is reported in the income statement, except the part relating to items reported directly in equity, and therefore accounted for within equity.

Levied tax is tax which is expected to be paid on taxable profit from the financial year, using the tax rates enacted or substan-tively enacted by the balance sheet date, and any adjustments to the tax liability in relation to past financial years.Deferred tax is recorded using the balance sheet liability method, which takes into account temporary differences between the car-rying amount of an asset or liability for the purposes of financial reporting and its tax base for the purposes of tax reporting. The value of deferred tax depends on the expected method for recov-ery or settlement of the carrying amount of an asset or liability using the tax rates enacted or substantively enacted by the bal-ance sheet date.

Deferred tax receivables are only recognised in the volume for which it is probable that taxable profits will be available, against which the deferred tax receivable can be utilised. A deferred tax receivable is reduced by the amount for which it is no longer pos-sible for a tax relief relating to the asset to be applied.

Net earnings per share (EPS)

The company reports the basic earnings per share and adjusted or diluted earnings per share for ordinary shares. The basic earning per share is calculated by dividing the profit or loss attributable to ordinary shareholder by the weighted average number of ordinary shares for the period. The diluted earning per share is calculated by adjusting the profit or loss attributable to ordinary sharehold-ers and the weighted average number of ordinary shares for the period to take into account the effects of all dilutive (potential) ordinary shares, which are participating preference shares that can be exchanged for ordinary shares.

Segment reporting

The company does not have geographical or function-based seg-ments. It does not provide services that differ significantly in terms of risk and returns. The company only provides services in one location. It performs a range of services, but the key risk for all services is the same – sufficient passenger numbers.


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Novi standardi in pojasnila, ki še niso stopili v veljavo

Pri pripravi računovodskih izkazov niso bili upoštevani novi standardi računovodskega poročanja ter dopolnila in pojasnila, ki še niso v veljavi, in sicer:

> MSRP 7 Finančni inštrumenti: Razkritja in Dopolnitev k MRS 1 – Predstavljanje računovodskih izkazov: razkritja o kapitalu Standard bo zahteval obsežnejša raz-kritja o pomembnosti finančnih inštrumentov za finančno stanje družbe in njeno poslovanje ter kvalitativna in kvantitativna razkritja o naravi in višini posameznih vrst tveganj. MSRP 7 in dopolnjeni MRS 1, ki ju bo družba morala upoštevati pri pripravi računovodskih izkazov za poslovno leto 2007, bosta zahtevala obsežnejša dodatna razkritja o finančnih inštrumentih in osnovnem kapitalu družbe.

> OPMSRP 7 Uporaba prevrednotenja po MRS 29; Računovodsko poročanje v pogojih hiperinflacije: pojasnilo se nanaša na uporabo MRS 29 v prvem letu, ko pravna oseba ugotovi obstoj hiperinflacije in še zlasti pri obračunavanju odloženih davkov. Ne pričakujemo, da bo imel OPMSRP 7, ki ga bo družba morala upoštevati pri pripravi izkazov za poslovno leto 2007, vpliv na računovodske izkaze.

> OPMSRP 8 Področje MSRP 2: Plačilo z delnicami: pojasnilo se uporablja pri plačilnih transakcijah z delnicami, pri katerih dela ali celotnega blaga ali storitev ni mogoče natančno opredeliti. OPMSRP 8 bo družba morala začeti uporabljati za po-slovno leto 2007, pri čemer bo pojasnilo morala uporabiti za nazaj. Ne pričakujemo, da bo pojasnilo imelo vpliv na računovodske izkaze.

> OPMSRP 9 Ponovna ocenitev vgrajenih izvedenih finančnih inštrumentov: po-jasnilo zahteva, da je treba ponovno oceniti, ali je vgrajeni finančni inštrument potrebno ločiti od gostiteljske pogodbe samo, če je prišlo do sprememb pogodbe. Ne pričakujemo, da bo OPMSRP 9, ki ga mora družba pričeti uporabljati za poslovno leto 2007, vplival na računovodske izkaze.

> OPMSRP 10 Medletno računovodsko poročanje in oslabitve: prepoveduje odpra-vo izgube zaradi oslabitve, ki je bila pripoznana v prejšnjem medletnem obdobju v zvezi z dobrim imenom, naložbo v kapitalske inštrumente ali finančna sredstva, izkazana po nabavni vrednosti. OPMSRP 10 bo družba morala začeti uporablja-ti za poslovno leto 2007 pri izkazovanju dobrega imena, naložbah v kapitalske inštrumente in finančna sredstva, izkazana po nabavni vrednosti za naprej od dne, ko je družba prvič uporabila kriterije merjenja v skladu z MRS 36 in MRS 39 (tj. 1. januarja 2004). Ne pričakujemo, da bo OPMSRP 10, ki ga mora družba pričeti uporabljati za poslovno leto 2007, vplival na računovodske izkaze.

New standards and interpretations that have not yet been entered into force

When preparing the financial statements the following new ac-counting reporting standards and amendments and interpreta-tions not yet in force have not been complied with:

> IFRS 7 Financial Instruments: Disclosures and Amendment to IAS 1 Presentation of Financial Statements – Capital Disclosures. The standard will require increased disclosure in respect of the materiality of financial instruments to the company’s financial standing, and its management of individual types of risk, and the quantity and quality of disclosures on the nature and amount of such risk. IFRS 7 and the Amendment to IAS 1, which the company will have to follow when preparing the 2007 financial statements, will require increased additional disclosure of financial instru-ments and the company’s share capital.

> IFRIC 7 Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies. The inter-pretation relates to the application of IAS 29 in the first year in which a company identifies the existence of hyperinflation, and particularly accounting for deferred taxes. We do not anticipate that IFRIC 7, which the company must apply in its 2007 financial statements, to have any impact on those statements.

> IFRIC 8 Scope of IFRS 2: Share-Based Payment. The interpre-tation applies to share-based transactions, where it is not possible to precisely define part of or the full value of goods or services. The company is required to implement IFRIC 8 in 2007, and the interpretation will apply retrospectively. We do not anticipate that the interpretation will have an impact on the financial state-ments.

> IFRIC 9 Reassessment of Embedded Derivatives. The inter-pretation only requires a reassessment of whether an embedded instrument should be separated from a host contract if a contract is amended. We do not anticipate that IFRIC 9, which the company must apply in its 2007 financial statements, will have any impact on those statements.

> IFRIC 10 Interim Financial Reporting and Impairment. This prevents the subsequent reversal of an impairment loss recog-nised in a previous interim period, in respect of goodwill, or an investment in an equity instrument or a financial asset carried at historical cost. The company will start applying IFRIC 10 in 2007 for the reporting of goodwill, and investments in equity instru-ments or financial assets carried at historical cost from the date it first applied measurement criteria in accordance with IAS 36 and IAS 39 (1 January 2004). We do not anticipate that IFRIC 10, which the company must apply in its 2007 financial statements, will have any impact on those statements.

95

5. POJASNILA K RAČUNOVODSKIM IZKAZOM NOTES TO THE FINANCIAL STATEMENTS

5.1 Pojasnila in razkritja k bilanci stanja


5.1.1 NEOPREDMETENA SREDSTVA / INTANGIBLE ASSETS 93.736

GIBANJE V LETU 2006 / CHANGES IN 2006

Licence, programska oprema

Licences, software

Neopredmetena sredstva v izdelavi

Intangible assetsunder construction

SkupajTotal

NABAVNA VREDNOSTHISTORICAL COST

Stanje 1. 1. 2006Balance as at 1 Jan 2006 158.109 0 158.109

PridobitveAcquisitions 44.507 44.507

AktiviranjeCapitalisations 7.002 -7.002 0

OdtujitveDisposals -7.551 -7.551

Stanje 31. 12. 2006Balance as at 31 Dec 2006 157.560 37.505 195.065

POPRAVEK VREDNOSTIACCUMULATED AMORTISATION


OdtujitveDisposals -7.551 -7.551

AmortizacijaAmortisation 23.289 23.289

Stanje 31. 12. 2006Balance as at 31 Dec 2006 101.329 101.329

NEODPISANA VREDNOSTCARRYING AMOUNT


Stanje 31. 12. 2006Balance as at 31 Dec 2006 56.231 37.505 93.736

5.1 Notes and disclosures to the balance sheet


96

GIBANJE V LETU 2005 / CHANGES IN 2005 v tisoč tolarjih / SIT thousand

Licence, programska oprema

Licences, software

Neopredmetena sredstva v izdelavi

Intangible assetsunder construction

SkupajTotal



PridobitveAcquisitions 0 19.560 19.560

AktiviranjeCapitalisations 20.185 -20.185 0

OdtujitveDisposals -12.574 0 -12.574

Stanje 31. 12. 2005Balance as at 31 Dec 2005 158.109 0 158.109



OdtujitveDisposals -12.574 0 -12.574

AmortizacijaAmortisation 24.558 0 24.558





Neopredmetena sredstva v pridobivanju se nanašajo na programsko opremo, ki še ni usposobljena za uporabo, in na pridobljeno stavbno pravico, ki je v fazi postopka vpisa v zemljiško knjigo.

The item “intangible assets under construction” relates to soft-ware that has not yet been commissioned for use, and the acquired building rights, which is in the phase of entry in the land cadas-tre.

97


5.1.2 NEPREMIČNINE, NAPRAVE IN OPREMA / PROPERTY, MACHINERY AND EQUIPMENT 13.693.099

GIBANJE V LETU 2006 / CHANGES IN 2006

ZemljiščaProperty

ZgradbePlant

OpremaEquipment

Oprema zunaj uporabe

Equipment not in use

Nepremičnine, naprave in

oprema v pridobivanju

PPE under construction

PredujmiAdvances

SkupajTotal


Stanje 1. 1. 2006Balance as at 1 Jan 2006 1.602.539 20.221.651 7.115.664 60.191 408.691 18.210 29.426.946

PridobitveAcquisitions 2.611.804 -17.115 2.594.589

AktiviranjeCapitalisations 697.256 207.006 525.778 -1.430.040 0

Prenosi med nepremičninami, napravami in opremoTransfers to PPE

4.557 -259.711 170.428 84.726 0

OdtujitveDisposals -968 -51.642 -36.241 -88.851

Stanje 31. 12. 2006Balance as at 31 Dec 2006 2.299.795 20.432.246 7.330.089 194.378 1.675.181 1.095 31.932.784


Stanje 1. 1. 2006Balance as at 1 Jan 2006 11.932.154 5.286.643 60.183 0 0 17.278.980

Prenosi med sredstviTransfers to assets -43.221 -171.903 170.428 44.695 -1

OdtujitveDisposals -621 -46.783 -36.241 -83.645

AmortizacijaAmortisation 571.834 472.517 1.044.351

Stanje 31. 12. 2006Balance as at 31 Dec 2006 12.460.146 5.540.474 194.370 44.695 0 18.239.685


Stanje 1. 1. 2006Balance as at 1 Jan 2006 1.602.539 8.289.497 1.829.021 8 408.691 18.210 12.147.966

Stanje 31. 12. 2006Balance as at 31 Dec 2006 2.299.795 7.972.100 1.789.615 8 1.630.486 1.095 13.693.099


98

Zemljišča in zgradbe

Družba je na dan 31. 12. 2006 lastnica 29,3 hektara zazidljivih in nezazidljivih zemljišč v katastrskih občinah Grad, Šenčur, Cerklje na Gorenjskem, Velesovo in Zgornji Brnik. Leta 2006 je bilo za potrebe dolgoročnega razvoja letališča kuplje-nih 5,4 hektara zemljišč v skupni vrednosti 463.594 tisoč tolarjev, aktivirana pa so bila zemljišča v znesku 697.256 tisoč tolarjev.

Zemljišča v izmeri 536 hektarov na območju letališča Ljubljana, kjer družba oprav-lja osnovno letališko dejavnost, so v času lastninjenja družbe postala last Repub-like Slovenije. Kljub prizadevanjem v preteklih letih z državo še nimamo sklen-jene pogodbe o najemu oziroma pravici uporabe. Za vse objekte, ki stojijo na teh zemljiščih, imamo veljavna gradbena dovoljenja. V mesecu maju preteklega leta je bila na podlagi določil stvarno-pravnega zakonika sklenjena pogodba o ustanovitvi stavbne pravice za izgradnjo novega potniškega terminala T2 in obnovo sedanjega potniškega terminala T1, kar je pogoj za vzpostavitev schengenskih standardov nadzora zunanje meje Evropske unije. Na podlagi določil stvarno-pravnega zako-nika je družba Aerodrom Ljubljana, d.d., Republiki Sloveniji pravočasno posredovala predlog za sklenitev generalne pogodbe o zakonsko (ex lege) pridobljeni pravici za že zgrajene objekte in za zemljišča, ki bo omogočila upravljanje in pravico gradnje na zemljiščih v državni lasti in vknjižbo objektov v lasti delniške družbe v zemljiško knjigo.

Property and plant

On 31 December 2006, the company owned 29.3 hectares of brownfield and greenfield land in the cadastral municipalities of Grad, Šenčur, Cerklje na Gorenjskem, Velesovo and Zgornji Brnik. In 2006 it purchased 5.4 hectares of land with a total value of 463,594 thousand tolars for the long-term development of the airport, and also activated land worth 697,256 thousand tolars.

The 536 hectares of land at Ljubljana Airport where the company pursues its basic line of business as an airport became the prop-erty of the Slovenian state during the ownership transformation process that accompanied independence. Despite our endeavours in recent years, we have not yet concluded a lease agreement or an agreement on the right to use the land with the state. A valid building permit is held for all the buildings on this land. In May of last year, based on the property code, a contract was finally signed establishing building rights for the construction of the new T2 passenger terminal and the reconstruction of the current T1 pas-senger terminal, which is a condition for establishing Schengen-standard border controls, as an EU external border. Pursuant to the property code, Aerodrom Ljubljana d.d. submitted in due time a proposal to the Republic of Slovenia regarding a general con-tract on the legally acquired (ex lege) rights for existing buildings and property, which will facilitate management of and the right to build on state-owned land, and the entry of structures owned by the company in the land cadastre.

99


ZemljiščaProperty

ZgradbePlant

OpremaEquipment

Oprema zunaj uporabe

Equipment not in use

Nepremičnine, naprave in

oprema v pridobivanju

PPE under construction

PredujmiAdvances

SkupajTotal


Stanje 1. 1. 2005Balance as at 1 Jan 2005 1.088.173 17.366.791 6.306.766 29.395 2.242.943 2.819 27.036.887

PridobitveAcquisitions 2.393.510 2.393.510

AktiviranjeCapitalisations 514.366 2.859.449 841.902 0 -4.227.762 15.391 3.346

Prenosi med nepremičninami, napravami in opremoTransfers to PPE

-60.172 60.172 0 0

Prenosi iz dolgoročnih finačnih naložbTransfers from non-current financial investments

60.250 60.250

OdtujitveDisposals -4.589 -33.082 -29.376 0 -67.047

Stanje 31. 12. 2005Balance as at 31 Dec 2005 1.602.539 20.221.651 7.115.664 60.191 408.691 18.210 29.426.946


Stanje 1. 1. 2005Balance as at 1 Jan 2005 0 11.170.047 4.951.445 29.395 0 0 16.150.887

Prenosi med sredstviTransfers to assets 0 0 -59.681 59.681 0

Zmanjšanja popravkov vrednostiDecrease in accumulated depreciation

0 -5.076 0 0 0 0 -5.076

OdtujitveDisposals 0 -4.589 -32.337 -28.893 -65.819

AmortizacijaAmortisation 0 771.772 427.216 0 1.198.988

Stanje 31. 12. 2005Balance as at 31 Dec 2005 0 11.932.154 5.286.643 60.183 0 0 17.278.980


Stanje 1. 1. 2005Balance as at 1 Jan 2005 1.088.173 6.196.744 1.355.321 2.242.943 2.819 10.886.000

Stanje 31. 12. 2005Balance as at 31 Dec 2005 1.602.539 8.289.497 1.829.021 8 408.691 18.210 12.147.966


Prestižno priznanje Rating leta smo prejeli kot eno izmed treh slovenskih podjetij z najboljšo bonitetno oceno. Indeksi kažejo na poslovno učinkovitost podjetja.

The prestigious “Rating of the Year” award was presented to us as one of the three Slovene companies boasting the highest credit rating. The indexes testify to the business efficiency of the company.

102

Oprema

V letu 2006 je bila aktivirana oprema v skupni vrednosti 525.778 tisoč tolarjev, med drugim tudi:

Nepremičnine, naprave in oprema v pridobivanju

Na dan 31. 12. 2006 je znašala vrednost nepremičnin, naprav in opreme v prido-bivanju 1.630.486 tisoč tolarjev. Od tega se 1.507.976 tisoč tolarjev nanaša na novi potniški terminal.

Equipment

In 2006 we activated equipment worth 525,778 million tolars, including:

Property, plant and equipment under construction

As at 31 December 2006 the value of property, plant and equip-ment under construction was 1,630,486 thousand tolars, of which 1,507,976 thousand tolars related to the new passenger terminal.


Vozilo za razledenitev letalAircraft de-icing vehicle 141.808

Nakladalnik zabojev - vlečna ploščadCrate loader – loading platform 61.566

Oglasna telesaAdvertising hoardings 46.650

Vlečni traktorTractor unit 39.334


Sredstva družbeCompany assets 996.730

Osnovni kapitalShare capital 985.000

Prihodki iz poslovanjaOperating revenues 65.567

Čista izguba poslovnega letaNet loss for financial year 13.831

Družba Aerodrom Portorož, d.o.o., je v letu 2006 poslovala z izgubo, ki je delno posledica zaprtja letališča v marcu in delno v aprilu 2006 zaradi obnove vzletno-pristajalne steze in svetlobno-navigacijskega sistema, kar bo zagotovilo boljše pogoje obratovanja v naslednjih letih. Investicijski posegi se bodo nadaljevali tudi v letih 2007 in 2008, kar bo skupaj z uresničitvijo načrtovane rasti prometa na tem letališču predvidoma po letu 2008 privedlo do pozitivnega poslovanja družbe, zato ocenjujemo, da oslabitev naložbe ni potrebna.

In 2006 Aerodrom Portorož, d.o.o. operated at a loss, which is due in part to the closure of the airport in March and part of April 2006 in order to reconstruct the runway and navigation light-ing, which will ensure better operations in future. Investments will continue in 2007 and 2008, which together with the planned growth in traffic, should lead to the company operating at a profit in 2008, so we do not consider there is a need to impair the invest-ment.

Naložbo v pridruženo družbo v višini 300.000 tisoč tolarjev predstavlja naložba v družbo Aerodrom Portorož, d.o.o., Sečovlje 19, Sečovlje, kjer smo lastniki deleža v višini 30,46 odstotka. Pomembnejši podatki o družbi na osnovi nerevidiranih izkazov za leto 2006:

An investment of 300,000 thousand tolars was made in the associ-ated company Aerodrom Portorož, d.o.o., Sečovlje 19, Sečovlje, in which Aerodrom Ljubljana has an ownership share of 30.46%. Significant data on the company based on unaudited figures for 2006:


5.1.3 NALOŽBE V PRIDRUŽENO DRUŽBO / INVESTMENT IN AN ASSOCIATED COMPANY 300.000

103

V skupini za prodajo razpoložljiva finančna sredstva družba izkazuje naložbe v ob-veznice (pretežno so to državne obveznice in obveznice bank), vzajemne sklade ter v delnice in deleže. Ta sredstva predstavljajo finančni potencial, ki bo v prihodnjih letih uporabljen za naložbe v razvoj družbe, skladno s strategijo razvoja družbe. Pretežni del teh naložb kotira na Ljubljanski borzi vrednostnih papirjev in so vred-notene po trgovalni vrednosti na dan sestavitve bilance stanja.Pri finančnih naložbah, ki ne kotirajo na borzi, smo pošteno vrednost ocenili na osnovi povprečne ponderirane kupoprodajne vrednosti (delnice Gorenjske banke), naložbe, za katere nismo uspeli pridobiti nobenih informacij, ki bi služile oceni poštene vrednosti, pa smo vrednotili po nabavni vrednosti. To so naložbe v Zava-rovalnico Triglav, Skupno pokojninsko družbo, Iskratel, IEDC Bled ter Feniksšped. Oslabitev teh naložb nismo oblikovali, saj glede na razpoložljive informacije ni ra-zlogov za to.

The company’s available-for-sale financial assets include invest-ments in bonds (primarily government and bank bonds), mutual funds and shares and participating interests. These funds repre-sent financial potential that will be used in future for company investment and development, in line with company strategy. Most of these investments are listed on the Ljubljana Stock Exchange, and are valued at their market value on the balance sheet date.The fair value of financial investments not listed on the stock exchange was assessed using the average weighted sale value (Gorenjska Banka shares), while the historical cost was used as the fair value for investments for which no such information was available. These were investments in Zavarovalnica Triglav, Skup-na pokojninska družba, Iskratel, IEDC Bled and Feniksšped. These investments were not impaired, as there were no grounds to do so given on the information available.


5.1.4 DOLGOROČNE FINANČNE NALOŽBE / NON-CURRENT FINANCIAL INVESTMENTS 8.188.970


ZA PRODAJO RAZPOLOŽLJIVA FINANČNA SREDSTVA / FINANCIAL INVESTMENTS AVAILABLE-FOR-SALE 7.681.655

2006 2005

ObvezniceBonds 4.138.943 4.289.560

Delnice domačih podjetijShares in domestic companies 1.007.621 639.556

Pogodbe o gospodarjenjuFinancial asset management contracts 566.893 463.091

Vzajemni skladiMutual funds 469.260 410.982

Druge delnice in deležiOther shares and participating interests 1.498.938 1.589.274

SKUPAJTOTAL 7.681.655 7.392.463

Dolgoročne finančne naložbe predstavljajo za prodajo razpoložljiva finančna sredstva in dolgoročna posojila.

Non-current financial investments represent financial assets available-for-sale and long-term loans.


104


1. 1. 2006 PrevrednotenjaRevaluation

PovečanjaIncrease

ZmanjšanjaDecrease

31. 12. 2006

ObvezniceBonds 4.289.560 -57.226 499.013 592.404 4.138.943

Delnice domačih podjetijShares in domestic companies 639.556 368.065 0 0 1.007.621

Pogodbe o gospodarjenjuFinancial asset management contracts 463.091 109.205 0 5.403 566.893

Vzajemni skladiMutual funds 410.982 58.278 0 0 469.260

Druge delnice in deležiOther shares and participating interests 1.589.274 -107.741 17.522 117 1.498.938

SKUPAJTOTAL 7.392.463 370.581 516.535 597.924 7.681.655


1. 1. 2005 PrevrednotenjaRevaluation

PovečanjaIncrease

ZmanjšanjaDecrease

31. 12. 2005

ObvezniceBonds 4.348.313 -52.616 2.398.500 2.404.637 4.289.560

Delnice domačih podjetijShares in domestic companies 719.629 -80.073 0 0 639.556

Pogodbe o gospodarjenjuFinancial asset management contracts 460.432 7.733 0 5.074 463.091

Vzajemni skladiMutual funds 247.839 13.143 150.000 0 410.982

Druge delnice in deležiOther shares and participating interests 1.318.116 324.559 117 53.518 1.589.274

SKUPAJTOTAL 7.094.329 212.746 2.548.617 2.463.229 7.392.463

105


1. 1. 2006 PovečanjaIncrease

ZmanjšanjaDecrease 31. 12. 2006

Dolgoročna posojilaLong-term loans 622.202 485.397 600.284 507.315


DOLGOROČNA POSOJILA / LONG-TERM LOANS 507.315

Long-term loans are primarily long-term deposits in banks, mea-sured using the amortised cost method. Most of these deposits are linked to a nominal interest rate between 3.50 and 3.85%, while some are related to TOM + nominal interest rate.

Dolgoročna posojila predstavljajo v pretežni meri dolgoročni depoziti v bankah, merjeni po metodi odplačne vrednosti. Večina teh depozitov je vezana po nominalni obresti meri v razponu od 3,50 do 3,85, nekaj pa jih je še vezanih na TOM + nomi-nalno obrestno mero.



ZmanjšanjaDecrease 31. 12. 2005

Dolgoročna posojilaLong-term loans 753.846 1.173.110 1.304.754 622.202


106

Odložene terjatve za davek se nanašajo na naslednje postavke: Deferred tax receivables cover the following items:


5.1.5 ODLOŽENE TERJATVE ZA DAVEK / DEFERRED TAX RECEIVABLES 49.479


2006 2005

Oslabitev vrednostnih papirjevImpairment of securities 108 0

Oblikovanje popravka terjatevValue adjustment for receivables 3.069 0

Oblikovanje rezervacij za jubilejne nagrade, odpravnineProvisions for loyalty bonuses and severance pay 46.302 46.302

SKUPAJTOTAL 49.479 46.302


1. 1. 2006 OblikovanjeAllocation 31. 12. 2006

Oslabitev vrednostnih papirjevImpairment of securities

108 108

Oblikovanje popravka terjatevValue adjustment for receivables

3.069 3.069

Oblikovanje rezervacij za jubilejne nagrade, odpravnineProvisions for loyalty bonuses and severance pay

46.302 46.302

SKUPAJTOTAL 46.302 3.177 49.479


1. 1. 2005 OblikovanjeAllocation 31. 12. 2005

Oblikovanje rezervacij za jubilejne nagrade, odpravnineProvisions for loyalty bonuses and severance pay

44.512 1.790 46.302

107


5.1.6 KRATKOROČNE FINANČNE NALOŽBE / CURRENT FINANCIAL INVESTMENTS 2.406.811

V skupini kratkoročne finančne naložbe so v pretežni meri zajeti kratkoročni de-poziti v bankah, merjeni po odplačni vrednosti (kratkoročna posojila). Povprečna donosnost kratkoročnih depozitov je 3,46 in so namenjeni za zagotavljanje tekoče likvidnosti.

Naložbe v depozite, tako kratkoročne kot dolgoročne, se zmanjšujejo, ker je družba v fazi intenzivnega investiranja.

Current financial investments are primarily short-term deposits in banks, measured according to the repayment value (short-term loans). The average return on short-term deposits is 3.46%, and they are used to ensure operational liquidity.

Investments in short-term and long-term deposits have decreased because the company is going through a phase of intense invest-ment.



ZmanjšanjaDecrease

31. 12. 2006

Kratkoročna posojilaShort-term loans 2.585.700 6.741.931 6.920.820 2.406.811


5.1.7 KRATKOROČNE POSLOVNE TERJATVE DO KUPCEV / CURRENT TRADE RECEIVABLES 888.097


2006 2005

Kratkoročne terjatve do kupcev v državiCurrent domestic accounts receivable 672.316 535.344

Kratkoročne terjatve do kupcev v tujiniCurrent accounts receivable from rest of world 215.781 141.849



108

POPRAVKI VREDNOSTI TERJATEV / ADJUSTMENTS TO RECEIVABLES v tisoč tolarjih / SIT thousand

Kosmata vrednostGross value

Popravek vrednostiValue adjustment

Čista vrednost 2006Net value 2006

Kratkoročne terjatve do kupcev v državi Current domestic accounts receivable 718.219 -45.903 672.316

Kratkoročne terjatve do kupcev v tujiniCurrent accounts receivable from rest of world 236.227 -20.446 215.781

SKUPAJTOTAL 954.446 -66.349 888.097

Pri oblikovanju popravkov vrednosti terjatev presojamo izterljivost vsake posa-mezne terjatve. Popravek vrednosti, izkazan na dan 31. 12. 2006 v višini 66.349 tisoč tolarjev, se v celoti nanaša na poslovne terjatve do kupcev. Večji del popravka (66.168 tisoč tolarjev) je bil oblikovan do leta 2006.

The collectibility of each receivable is assessed when the adjust-ment is made. The adjustment created as at 31 December 2006 in the amount of 66,349 thousand tolars relates entirely to trade receivables. Most of the adjustment (66,168 thousand tolars) was made in 2006.

RAZČLENITEV TERJATEV DO KUPCEV PO ZAPADLOSTI / BREAKDOWN OF TRADE RECEIVABLES BY MATURITY v tisoč tolarjih / SIT thousand

Nezapadle terjatveNot due 593.089

Zapadle terjatve do 30 dniUp to 30 days overdue 186.298

Zapadle terjatve od 31 do 90 dni31 to 90 days overdue 29.214

Zapadle terjatve od 91 do 180 dni91 to 180 days overdue 14.218

Zapadle terjatve nad 180 dniMore than 180 days overdue 131.627

SKUPAJTOTAL 954.446

V okviru terjatev, zapadlih nad 180 dni v višini 131.627 tisoč tolarjev, jih je skoraj polovica zavarovanih s hipoteko (61.398 tisoč tolarjev), del terjatev v višini 43.563 tisoč tolarjev pa je v postopku sodne izterjave.

With regard to receivables more than 180 days overdue, amount-ing to 131,627 thousand tolars, almost half of that sum has been secured by mortgage (61,398 thousand tolars), while a portion of the receivables, worth 43,563 thousand tolars is in the process of collection through the courts.

109


5.1.8 KRATKOROČNE POSLOVNE TERJATVE DO DRUGIH / OTHER CURRENT OPERATING RECEIVABLES 261.598


2006 2005

Terjatve za vstopni DDVReceivables for input VAT 248.118 24.445

Ostale kratkoročne terjatveOther current receivables 13.480 10.590


Terjatve za vstopni DDV so se povečale zaradi visokih zneskov prejetih faktur ob koncu leta, ki se nanašajo predvsem na investicije v nepremičnine, naprave in op-remo.

Input VAT receivables increased due to the high number of invoic-es received at the end of the year, which related mainly to invest-ments in property, plant and equipment.


5.1.9 KAPITAL / EQUITY 23.286.155

Družba na dan 31. 12. 2006 ne razpolaga z lastnimi delnicami, nima odobrenega kapitala, skupščina pa tudi ni sprejela sklepa o povečanju osnovnega kapitala.

Osnovni kapital

Razdelitev osnovnega kapitala na delnice je prikazana v naslednji tabeli:

Vse izdane delnice so vplačane.

As at 31 December 2006 the company did not have treasury shares or authorised capital, and the general meeting had not passed a resolution to increase the share capital.

Share capital

Breakdown of share capital:

All issued shares are paid-up in full.


Nominalna vrednost delnice v tolarjih

Nominal value of share:in tolars

Delež v osnovnem kapitalu

Proportion of share capital

Nominalna vrednost kapitala v tisoč tolarjih

Nominal value of share in thousand tolars

Prednostne participativne delnicePreferred participating shares 1.860.298 1.000 49% 1.860.298

Navadne, prosto prenosljive delniceOrdinary freely transferable shares 1.936.229 1.000 51% 1.936.229

SKUPAJ OSNOVNI KAPITALTOTAL SHARE CAPITAL 3.796.527 1.000 100% 3.796.527


110

Prednostne participativne delnice so v lasti Republike Slovenije, so delnice z omeje-no glasovalno pravico in skladno z 8. členom statuta družbe prinašajo dividendo, ki je sestavljena iz fiksnega in variabilnega dela. Dividenda prednostnih participa-tivnih delnic z omejeno glasovalno pravico je enaka dividendi, ki pripada navadnim delnicam, če čisti dobiček poslovnega leta na nominalno vrednost osnovnega kapi-tala in prištevnega prevrednotovalnega popravka ne doseže vključno en odstotek, oziroma če preseže 20 odstotkov.

Navadne delnice se glasijo na ime in so prosto prenosljive, z njimi se od oktobra 1997 trguje na Ljubljanski borzi.

Knjigovodska vrednost delnice na dan 31. 12. 2006 znaša 6.134 tolarjev.

Kapitalske rezerve

Kapitalske rezerve so bile oblikovane na podlagi odprave splošnega prevrednoto-valnega popravka kapitala.

Rezerve iz dobička

The participating preference shares are shares with limited vot-ing rights owned by the Republic of Slovenia, and in accordance with Article 8 of the company’s Articles of Association they yield a dividend comprising a fixed and a variable part. The dividend for the participating priority shares with limited voting rights are the same as the dividend for ordinary shares, if the net profit for the financial year is below 1% or over 20% of the nominal capital plus the capital revaluation adjustment.

The ordinary shares are bearer securities and are freely transfer-able, having been traded on the Ljubljana Stock Exchange since October 1997.

The book value of a share as at 31 December 2006 was 6,134 to-lars.

Equity reserves

Equity reserves were formed on the basis of the elimination of the general capital revaluation adjustment.

Profit reserves


2006 2005

Zakonske rezerveLegal reserves 961.682 961.682

Statutarne rezerveReserves under the articles of association 1.835.445 2.400.463

Druge rezerve iz dobičkaOther profit reserves 7.543.431 5.930.996

SKUPAJTOTAL 10.340.558 9.293.141

Na podlagi sklepa skupščine družbe je bil del bilančnega dobička, oblikovan iz čistega dobička poslovnega leta 2005 v znesku 787.700 tisoč tolarjev, prenesen na povečanje drugih rezerv iz dobička.

Skladno z določili 230. člena ZGD-1 in statutom družbe je družba ob sestavi let-nega poročila 2006 čisti poslovni izid poslovnega leta 2006 v višini 20 odstot-kov oziroma 421.859 tisoč tolarjev uporabila za povečanje statutarnih rezerv, po-lovico preostanka v višini 843.718 tisoč tolarjev pa za povečanje drugih rezerv iz dobička.

In accordance with a resolution of the company’s general meet-ing, a portion of distributable profit created from net profit in the 2005 financial year amounting to 787,700 thousand tolars was used to increase other profit reserves.

Pursuant to Article 230 of the Companies Act and the company’s Articles of Association, on compilation of its annual report, the company used 20%, or 421,859 thousand tolars of the net profit for 2006 to increase reserves under the Articles of Association, while half of the remainder, totalling 843,718 thousand tolars, was used to increase other reserves.

111


Presežek iz prevrednotenja izkazuje povečanje poštene vrednosti finančnih sredstev, razpoložljivih za prodajo. Povečanje v letu 2006 je rezultat splošnega povečanja tržne vrednosti naložb na dan 31. 12. 2006.

Čisti dobiček na delnico

Osnovni čisti dobiček na delnico je izračunan tako, da se celotni poslovni izid obračunskega obdobja, zmanjšan za davek od dobička ter popravljen za odložene davke in za znesek dividend (fiksni in variabilni del), namenjenih za izplačilo last-nikom prednostnih delnic (čisti poslovni izid navadnih delničarjev – števec), deli s tehtanim povprečnim številom v obračunskem obdobju uveljavljajočih se navadnih delnic (imenovalec).

Cilj informacije o osnovnem čistem dobičku na delnico je podati merilo za delež vsake navadne delnice v uspešnosti družbe v obravnavanem obdobju.

Revaluation surplus

The revaluation surplus represents the increase in fair value of financial investments available-for-sale. The increase in 2006 was due to the general increase in the market value of investments as at 31 December 2006.

Net earnings per share

The basic net earning per share is calculated by dividing the net profit for ordinary shareholders (the numerator) – calculated as the total profit for the financial year minus corporate income tax and adjusted for deferred taxes and the fixed and variable divi-dend portions intended for payment to the preference share own-er – by the weighted average number of eligible ordinary shares over for the period (the denominator).

The purpose of the basic net earning per share is to provide a benchmark to measure the participation of each ordinary share in the company’s performance over the year.

OSNOVNI ČISTI DOBIČEK NA DELNICO / BASIC NET EARNINGS PER SHARE

2006 2005

Čisti poslovni izid navadnih delničarjev (v tisoč tolarjih)Net profit for ordinary shareholders (thousand tolars) 1.618.913 1.428.233

Povprečno število navadnih delnicAverage number of ordinary shares 1.936.229 1.936.229

Osnovni čisti dobiček na delnico (v tolarjih)Basic net earnings per share (tolars) 836 738


112

Ker z lastnikom prednostnih participativnih delnic, Republiko Slovenijo, ni jasno določen princip zamenljivosti prednostnih v navadne delnice (ni jasno razmerje zamenjave), so zgornji izračuni zgolj informativne narave s predvideno zamenljivostjo 1:1.

As it is difficult with the owner of the participating preference shares – the Republic of Slovenia – to define the principle of exchanging preference for ordinary shares (no clear exchange ratio), the calcula-tions above are for information purposes only, and assume a 1:1 ex-change ratio.

Popravljen čisti dobiček na delnico je izračunan tako, da je dobiček, ki se nanaša na navadne delničarje družbe in tehtano povprečno število uveljavljajočih se navadnih delnic, prilagojen za učinke vseh popravljalnih možnostih (potencialnih) navadnih delnic, kar pomeni, da smo čisti poslovni izid navadnih delničarjev (števec) povečali za izplačilo dividend lastnikom možnostnih navadnih delnic, imenovalec pa smo povečali za tehtano povprečno število možnostnih navadnih delnic.

Možnostna (potencialna) navadna delnica je finančni inštrument ali druga pogod-ba, ki lahko daje imetniku pravico do navadnih delnic. Za potrebe izračuna poprav-ljenega čistega dobička na delnico smo kot možnostne navadne delnice opredelili prednostne delnice, ki jih je mogoče zamenjati za navadne delnice.

Možnostne navadne delnice se obravnavajo kot popravljalne takrat, ko bi njihova zamenjava za navadne delnice zmanjšala čisti dobiček na delnico.

The diluted net earning per share is calculated by adjusting the profit attributable to ordinary shareholders and the weighted average number of eligible ordinary shares to take into account the effects of all dilutive potential ordinary shares, which means that the net operating result for ordinary shareholders (the nu-merator) was increased by the payment of dividends to owners of potential ordinary shares, while the denominator was increased by the weighted average number of potential ordinary shares.

A potential ordinary share is a financial instrument or another contract that gives the holder the right to ordinary shares. In order to calculate the adjusted (diluted) net earnings per share, preference shares that can be exchanged for ordinary shares were defined as potential ordinary shares.

Potential ordinary shares are treated as adjusted when their exchange for ordinary shares would reduce the net earning per share.

POPRAVLJEN ČISTI DOBIČEK NA DELNICO / DILUTED NET EARNINGS PER SHARE

2006 2005

Čisti poslovni izid (v tisoč tolarjih)Net profit (thousand tolars) 2.109.295 1.921.212

Povprečno število vseh delnicAverage number of all shares 3.796.527 3.796.527

Popravljen čisti dobiček na delnico (v tolarjih)Diluted net profit per share (tolars) 556 506

114

Bilančni dobiček Accumulated profit

OBLIKOVANJE IN PREDLOG UPORABE BILANČNEGA DOBIČKA / FORMATION AND PROPOSED USE OF ACCUMULATED profitPER SHARE v tisoč tolarjih / SIT thousand

2006 2005

Čisti poslovni izid poslovnega letaNet profit (or loss) for financial year 2.109.295 1.921.212

+ preneseni čisti poslovni izid spremembe po MSRP+ net profit or loss brought forward; changes due to IFRS

651.537

+ preneseni čisti poslovni izid+ net profit or loss brought forward

603.500 220

+ sprostitev statutarnih rezerv+ decrease of reserves under articles of association

0 986.877

+ sprostitev drugih rezerv+ decrease of other profit reserves

0 20.000

- oblikovanje statutarnih rezerv- increase of reserves under articles of association

421.859 393.849

- oblikovanje drugih rezerv- increase of other profit reserves

843.718 787.700

= bilančni dobiček*= accumulated profit* 1.447.218 2.398.297

- za dividende lastnikom- to dividends

1.006.080

- nagrada članom nadzornega sveta- bonus for supervisory board members

0

- v druge rezerve- to other reserves

788.717

= ostanek bilančnega dobička= remaining accumulated profit

603.500

* Uprava bo skupščini predlagala, da se bilančni dobiček za leto 2006 v višini 1.447.218 tisoč tolarjev razporedi:

- za dividende prednostnim in navadnim delničarjem se nameni 1.000.780 tisoč tolarjev bilančnega dobička, in sicer 510.398 tisoč tolarjev za dividende navadnim delničarjem (263,60 tolarjev oziroma 1,10 evra na delnico), 490.382 tisoč tolarjev pa za dividende prednostnim delničarjem (dividenda je izračunana na podlagi določil 8. člena statuta in je enaka dividendi navadnih delnic);- za nagrade članom nadzornega sveta se nameni 18.332 tisoč tolarjev bilančnega dobička;- za druge rezerve se nameni 428.106 tisoč tolarjev bilančnega dobička.

* The management board will propose to the general meeting that the distributable profit for 2004 in the amount of 1,447,218 thousand tolars be distributed as follows:

- 1,000,780 thousand tolars of distributable profit allocated to dividends for holders of preference and ordinary shares, with 510,398 thousand tolars for dividend payments to ordinary shareholders (263.60 tolars or €1.10 per share) and 490,382 thousand tolars for dividend payments to holders of preferred shares (the dividend of 260 tolars per share was calculated on the basis of Article 8 of the articles of association)- 18,332 thousand tolars of distributable profit allocated to bonus payments for members of the supervisory board- 428,106 thousand tolars of distributable profit allocated to other reserves.

115


5.1.10 DOLGOROČNE REZERVACIJE / LONG-TERM PROVISIONS 622.067

Med dolgoročnimi rezervacijami imamo evidentirane rezervacije za jubilejne na-grade, odpravnine zaposlenim na osnovi aktuarskih izračunov ter dolgoročne pasivne časovne razmejitve, ki predstavljajo dotacije iz proračuna Republike Slo-venije, prejete v letih 1993 in 1994 in so bile namenjene za nepremičnine, naprave in opremo. Letno se znižujejo v višini stroška njihove amortizacije in se prenašajo med druge poslovne prihodke.

The long-term provisions include provisions formed for loyalty bonuses, for severance pay based on actuary calculations, and non-current accrued expenses and deferred revenues from grants from the budget of the Republic of Slovenia, received in 1993 and 1994 for property, plant and equipment. They are reduced annu-ally in the amount of depreciation for fixed assets purchased with the grants, and transferred to other operating revenues.


Stanje 1. 1. 2006Balance at 1 Jan

2006

ČrpanjeUtilisation

OblikovanjeFormation

Stanje 31. 12. 2006Balance as at 31 Dec 2006

Rezervacije za jubilejne nagrade, odpravnineProvisions for loyalty bonuses and severance pay 185.208 5.648 190.856

Dolgoročne pasivne časovne razmejitveNon-current accrued expenses and deferred revenues 492.926 61.715 431.211

SKUPAJTOTAL 678.134 61.715 5.648 622.067


Stanje 1. 1. 2005Balance at 1 Jan

2005

ČrpanjeUtilisation

OblikovanjeFormation

Stanje 31. 12. 2005Balance as at 31 Dec 2005

Rezervacije za jubilejne nagrade, odpravnineProvisions for loyalty bonuses and severance pay 178.046 7.162 185.208

Dolgoročne pasivne časovne razmejitveNon-current accrued expenses and deferred revenues 557.796 64.870 492.926

SKUPAJTOTAL 735.842 64.870 7.162 678.134


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Odložene obveznosti za davek se nanašajo na naslednje postavke: Deferred tax liabilities cover the following items:


5.1.11 ODLOŽENE OBVEZNOSTI ZA DAVEK / DEFERRED TAX LIABILITIES 664.075


2006 2005

Prevrednotenje vrednostnih papirjev na pošteno vrednostRevaluation of securities to fair value

562.024 521.140

Prehod na MSRPTransition to IFRS

102.051 153.077


GIBANJE OBVEZNOSTI ZA ODLOŽENE DAVKE / CHANGES IN DEFERRED TAX LIABILITIES v tisoč tolarjih / SIT thousand

2006 2005

Začetno stanjeOpening balance

674.217 632.248

Sprememba prevrednotenja vrednostnih papirjev na pošteno vrednostChanges in revaluation of securities to fair value

40.884 53.190

Spremembe na osnovi prehoda na MSRPChanges following basic transition to IFRS

-11.221

Ukinitev 1/3 obveznosti ob prehodu na MSRPCancellation of 1/3 of liabilities on transition to IFRS

-51.026


117

Kratkoročne obveznosti do zaposlencev v višini 149.507 tisoč tolarjev se nanašajo na obračunane bruto plače in povračila stroškov prevoza in prehrane za december 2006.

Med kratkoročnimi obveznostmi do države so izkazane obveznosti iz naslova pri-spevkov na bruto plače in davka na izplačane plače za december 2006 v skupni višini 29.787 tisoč tolarjev.

Current liabilities to employees of 149,507 thousand tolars relate to calculated gross wages and reimbursement of transport and food costs for December 2006.

The current liabilities to the government are the disclosed liabili-ties from contributions on gross wages and tax on not-yet-paid wages for December 2006 with a total value of 29,787 thousand tolars.


5.1.12 KRATKOROČNE OBVEZNOSTI / CURRENT LIABILITIES 1.490.191


2006 2005

Kratkoročne obveznosti do dobaviteljev Current trade payables

996.153 413.146

Obveznosti za nezaračunano blago in storitveLiabilities for goods and services not invoiced

6.583 4.914

Prejeti predujmiAdvances received

1.542 2.258

Preplačila kupcevPrepayments by customers

3.169 5.037

Prejete varščineSecurities received

200 5.075

Kratkoročne obveznosti do zaposlencevCurrent liabilities to employees

149.507 124.740

Kratkoročne obveznosti do državeCurrent liabilities to the government

29.787 26.194

Kratkoročne obveznosti za neizplačane dividendeCurrent liabilities for unpaid dividends

3.714 2.767

Obveznost za davek od dobičkaCorporate income tax liabilities

284.764 250.023

Druge kratkoročne obveznostiOther current liabilities

11.360 10.984

Kratkoročne PČRCurrent accrued expenses and deferred revenues

3.412 3.206

SKUPAJTOTAL 1.490.191 848.344


118

Izkazane obveznosti do dobaviteljev na dan 31. 12. 2006 še niso zapadle v plačilo. Bistveno povečanje obveznosti do dobaviteljev za osnovna sredstva je posledica obsežne investicijske dejavnosti ob prehodu leta.

5.1.13 Potencialne obveznosti

V zunajbilančni evidenci družba izkazuje potencialno obveznost iz naslova prenosa 22.934 kvadratnih metrov kmetijskih zemljišč v k. o. Grad v vrednosti 56.418 tisoč tolarjev na Družbo za svetovanje in upravljanje, d.o.o., dana poroštva Feniksšpedu v višini 19.011 tisoč tolarjev ter dane bančne garancije v višini 315.540 tisoč to-larjev.

The disclosed accounts payable as at 31 December 2006 had not yet matured for payment. The significant increase in trade pay-ables for fixed assets was the consequence of the large-scale in-vestment ongoing at the turn of the year.

5.1.13 Potential liabilities

The off-balance-sheet records disclose a potential liability arising from the transfer of 22,934m2 of farmland in the cadastral mu-nicipality of Grad worth 56,418 thousand tolars to Družba za sve-tovanje in upravljanje, d.o.o., surety provided to Feniksšped worth 19,011 thousand tolars, and bank guarantees worth 315,540 thousand tolars.

KRATKOROČNE OBVEZNOSTI DO DOBAVITELJEV / CURENT TRADE PAYABLES v tisoč tolarjih / SIT thousand

2006 2005

Obveznosti do dobaviteljev v državiDomestic accounts payable

938.701 403.675

Obveznosti do dobaviteljev v tujiniAccounts payable to rest of world

57.452 9.471



2006 2005

Obveznosti do dobaviteljev za osnovna sredstvaAccounts payable for fixed assets

864.753 295.654

Obveznosti do dobaviteljev za obratna sredstvaAccounts payable for working capital

131.400 117.492


119

5.2 Pojasnila in razkritja k izkazu poslovnega izida 5.2. Notes and disclosures to the income statement


5.2.1 PRIHODKI OD PRODAJE / SALES REVENUES 6.799.517

2006 2005

Prihodki od prodaje storitev v državiRevenues from domestic sales of services

4.906.735 4.646.862

Prihodki od prodaje storitev v tujiniRevenues from sale of services in rest of world

1.892.249 1.584.382

Prihodki od prodaje blaga v državiRevenues from domestic sales of goods

533 212

SKUPAJTOTAL 6.799.517 6.231.456


5.2.2 DRUGI POSLOVNI PRIHODKI / OTHER OPERATING REVENUES 70.431

Drugi poslovni prihodki predstavljajo črpane dolgoročne rezervacije za prejete dotacije iz proračuna za nepremičnine, naprave in opremo v višini amortizacije teh sredstev – 61.714 tisoč tolarjev, prejete subvencije iz strukturnih skladov Evrop-ske unije za izobraževanje, poslovne prihodke v zvezi s prodanimi nepremičninami, napravami in opremo ter prejete kazni in odškodnine.

Other operating revenues represent utilised long-term provi-sions for budget grants for property, plant and equipment in the amount of the depreciation of these assets (61,714 thousand to-lars), subsidies received from European Union structural funds for training, operating revenues relating to PPE sold and fines and damages received.


120


5.2.3 STROŠKI STORITEV / SERVICE COSTS 1.005.954


2006 2005

Stroški varovanjaSecurity costs

202.594 158.472

Stroški reklameAdvertising costs

129.823 126.689

Stroški vzdrževanjaMaintenance costs

122.129 145.374

Intelektualne storitveIntellectual services

127.131 103.741

Delo študentovStudent work

100.607 75.746

Povračila stroškov v zvezi z delomReimbursement of work-related costs

52.460 35.485

Druge storitveOther services

271.210 244.718

SKUPAJTOTAL 1.005.954 890.225


5.2.4 STROŠKI DELA / LABOUR COST 2.041.753


2006 2005

Stroški plačWages

1.492.537 1.339.645

Dodatno pokojninsko zavarovanjeSupplementary pension insurance

48.755 41.416

Stroški socialnih zavarovanjSocial security costs

231.175 216.874

Drugi stroški zaposlenihOther employee costs

326.638 315.610

Oblikovanje rezervacij za odpravnine, jubilejne nagradeProvisions for loyalty bonuses and severance pay

5.648 7.162

SKUPAJTOTAL 2.041.753 1.920.707

121

STROŠKI PLAČ / WAGES v tisoč tolarjih / SIT thousand

2006 2005

Plače zaposlenihEmployee wages

1.266.311 1.197.089

Nadomestila plačSubstitutes for wages and salaries

163.226 142.556

SKUPAJTOTAL 1.429.537 1.339.645

STROŠKI SOCIALNIH ZAVAROVANJ / SOCIAL SECURITY COSTS v tisoč tolarjih / SIT thousand

2006 2005

Obvezno pokojninsko in invalidsko zavarovanjeCompulsory pension and disability insurance

127.075 119.214

Druge dajatve za zagotavljanje socialne varnostiOther social security levies

104.100 97.660


DRUGI STROŠKI ZAPOSLENIH / OTHER EMPLOYEE COSTS v tisoč tolarjih / SIT thousand

2006 2005

Davek na izplačane plačeTax on wages and salaries paid

76.704 89.636

Prevoz na deloTravel expenses

73.226 63.742

Prehrana zaposlenihEmployee meals

95.234 84.129

Regres za letni dopustAnnual leave payment

69.050 66.118

Odpravnine in jubilejne nagradeSeverance pay and loyalty bonuses

4.840 8.415

Drugi stroški dela Other labour costs

7.548 3.570



122


5.2.5 AMORTIZACIJA / DEPRECIATION AND AMORTISATION 1.067.640


2006 2005

Amortizacija neopredmetenih sredstevAmortisation of intangible assets

23.289 24.559

Amortizacija nepremičnin, naprav in opremeDepreciation of property, machinery and equipment

1.044.351 1.198.988

SKUPAJTOTAL 1.067.640 1.223.547


5.2.6 FINANČNI PRIHODKI / FINANCIAL REVENUES 439.228


2006 2005

Prihodki iz deležev – dividendeFinancial revenues from shares - dividends

115.793 95.249

Prihodki od obrestiInterest revenues

321.653 393.531

Tečajne razlikeExchange differences

885 1.253

Kapitalski dobički od obveznicProfits from bonds

698 6.680

Drugi prihodki od financiranjaOther income from financing

199 208



5.2.7 FINANČNI ODHODKI / FINANCIAL EXPENSES 9.509

Finančni odhodki v skupnem znesku 9.509 tisoč tolarjev so za 27 odstotkov nižji kot v letu 2005. V največji meri se nanašajo na stroške provizij v povezavi s finančnimi naložbami in na negativne tečajne razlike.

Financial revenues, worth a total of 9,509 thousand tolars were 27% lower than in 2005. They primarily relate to commission costs relating to financial investments and negative exchange differ-ences.

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5.2.8 DAVEK IZ DOBIČKA IN ODLOŽENI DAVKI / CORPORATE INCOME TAX AND DEFERRED TAXES 682.577


2006 2005

Odmerjeni davek iz dobičkaIncome tax levied

736.780 493.109

Odloženi davkiDeferred taxes

-54.203 -13.011



2006 2005

Sprememba odloženih davkov, oblikovanih ob prehodu na MSRPChange in deferred taxes formed on the transition to IFRS

-13.011

Ukinitev dela obveznosti za davek ob prehodu na MSRPCancellation of portion of tax liabilities on transition to IFRS

-51.026

Terjatve za odložene davke od popravkov terjatev tekočega letaDeferred tax receivables due to receivable adjustments for current year

-3.069

Terjatve za odložene davke od oslabitve vrednostnih papirjevDeferred tax receivables due to impairment of securities

-108

SKUPAJTOTAL -54.203 -13.011

Pregled odloženih davkov z vplivom na dobiček: Overview of deferred taxes with impact on profit:

Obveznost za odloženi davek, oblikovana ob prehodu na MSRP, je bila v letu 2006 ukinjena v višini ene tretjine, ker smo jo vključili v odmero tekočega davka od dobička in je bil iz tega naslova povečan davek od dobička. Ukinjena obveznost povečuje poslovni izid, ker je bil dobiček že znižan ob prehodu na MSRP.

One third of the 2006 deferred tax liability formed on the tran-sition to the IFRS was cancelled, because it was included in the current corporate income tax return, which increased corporate income tax. The cancelled liability increases the operating results, because the profit had already been reduced on the transition to the IFRS.


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Finančni inštrumenti in obvladovanje tveganj

Zaradi zagotavljanja dolgoročno stabilnega poslovanja družbe sproti in temeljito spremljamo in ocenjujemo finančna tveganja. Načeloma jih ocenjujemo kot majhna, kar po posameznih vrstah tveganj pojasnjujemo v nadaljevanju.

Plačilno-sposobnostno tveganje je zaradi dobrega gospodarjenja z denarnimi sredstvi ocenjeno kot majhno. Obvladujemo ga s sprotnim načrtovanjem denarnih prilivov in odlivov, s čimer zagotavljamo potrebno količino likvidnih sredstev za poravnavanje svojih tekočih obveznosti oziroma za zagotavljanje normalnega po-slovanja kratko- in dolgoročno. Prepričani smo, da tudi obsežna investicijska deja-vnost, ki se je začela leta 2004 in se bo nadaljevala v prihodnjih letih, ob ustreznem načrtovanju denarnih tokov, upravljanju terjatev in obveznosti ter ob premišljeni naložbeni politiki ne bo bistveno povečala tovrstnega tveganja.

V okviru naložbene politike, ki teži k donosnemu nalaganju presežkov denarnih sredstev ob sprejemljivi stopnji tveganja, imamo pomemben del denarnih sredstev naložen pri bankah v obliki depozitov, vezanih za različna časovna obdobja, kar je relativno visoka likvidnostna rezerva družbe.

Dolgoročno in korektno sodelovanje s poslovnimi partnerji prispeva k sorazmerno veliki zanesljivosti načrtovanih prilivov denarnih sredstev, ki izvirajo iz naše po-slovne dejavnosti.

Stalno in neprekinjeno spremljanje razmer v zunanjem okolju, ki vplivajo na naše potrebe po likvidnih sredstvih, nam omogoča pravočasno in pravilno ukrepanje pri zagotavljanju pravočasnega poravnavanja naših obveznosti.

Financial instruments and risk management

In order to ensure the long-term stability of company operations, we conduct continuous and thorough monitoring and assessment of financial risk. They are generally assessed as minor, and are explained below by individual type of risks.

Liquidity risk was assessed as minor due to the conscientious management of cash assets. We control this risk by continuously planning money inflows and outflows, thus ensuring the requisite quantity of liquid assets needed to settle current liabilities or en-sure normal operation in the short term and the long term. We are confident that the extensive investment activity, which began in 2004 and which will continue in the coming years, will not sig-nificantly increase this kind of risk given appropriate planning of monetary flows, management of receivables and liabilities and a prudent investment policy.

As part of our investment policy, which is aimed at the profitable investment of surplus cash with an acceptable degree of risk, a significant part of our cash is invested in banks in the form of vari-ous time deposits, which constitutes the Company’s comparatively high liquidity reserves.

Our positive long-term cooperation with our business partners contributes to the comparatively high reliability of the planned inflows of cash resulting from our business activity.

The constant and uninterrupted monitoring of the circumstances in the external environment that affect our requirements for liq-uid assets allows us to take timely and appropriate action to en-sure the timely settlement of our liabilities.


2006 2005

Dobiček pred obdavčitvijoPre-tax profit

2.791.872 2.401.310

Pričakovani davek od dobička po 25-odstotni stopnjiAnticipated corporate income tax at 25% rate

697.968 600.328

Davčno nepriznani odhodkiExpenses not recognised for tax

28.675 23.580

Koriščenje davčnih olajšavTax relief

-40.587 -146.060

Druge prilagoditveOther adjustments

-3.479 2.250

DAVEK OD DOBIČKACORPORATE INCOME TAX 682.577 480.098

EFEKTIVNA DAVČANA STOPNJAEFECTIVE TAX RATE 24% 20%

Prikaz efektivne stopnje davka od dobička: Effective corporate income tax rate:

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Navsezadnje pa plačilnosposobnostno tveganje zmanjšujejo tudi ugodne možnosti našega kratkoročnega in dolgoročnega zadolževanja, ki bi jih uporabili ob morebit-nem izpadu posameznega vira financiranja.

Tveganje neizpolnitve nasprotne stranke (kreditno tveganje) znižujemo z aktivnim spremljanjem bonitetnih poročil naših kupcev. Naše poslovne povezave so v glav-nem dolgoročne, kar dodatno prispeva k nizki ravni tveganja. Pri posameznih občasnih kupcih pa uporabljamo tudi razne oblike zavarovanja plačil.

Pri manjšem delu naših kupcev, ki se pojavljajo občasno ali celo enkratno oziroma prihajajo iz nezanesljivih poslovnih okolij, zmanjšujemo tveganje neizpolnitve nas-protne stranke z bančnimi garancijami ali predplačili. Tekoče spremljamo terjatve po poslovnih partnerjih in po zapadlosti ter s sprotno izterjavo, zaračunavanjem zamudnih obresti, pisnim opominjanjem in navsezadnje tudi sodno izterjavo zapad-lih terjatev prispevamo k izboljševanju plačilne discipline naših kupcev.

Tveganje neizpolnitve nasprotne stranke se pojavlja tudi pri poslovanju z dobavi-telji, predvsem na področju investicij. Tako za zavarovanje danih predujmov zahtevamo bančne garancije, za dobro izvedbo pa plačilo dela pogodbene vrednos-ti kot varščino zadržimo do končne primopredaje, s čimer prispevamo h kakovostni izvedbi dogovorjenih investicijskih del.

Tveganje sprememb obrestnih mer na strani sredstev obvladujemo z razprševanjem naloženih prostih denarnih sredstev v razne finančne naložbe z vidika vrst in vidika ročnosti, s čimer zasledujemo maksimalne donose ob dani ravni tveganja.

Na strani obveznosti do virov sredstev obrestnemu tveganju nismo izpostavljeni, saj naše obveznosti do tujih virov niso vezane na spremenljive obrestne mere.

Tržno tveganje je eno od cenovnih tveganj, povezano z možnostjo spremembe tržnih cen in donosov vrednostnih papirjev oziroma z neugodnimi dogajanji na borznem trgu.

Naša naložbena politika je prvenstveno usmerjena v varne in kakovostne naložbe s pozitivnimi dolgoročnimi donosi. Skrbimo za ustrezno razpršenost, tudi tako, da z delom naših vrednostnih papirjev upravljajo banke. S špekulativnim trgovanjem, katerega namen bi bil izključno dosegati kratkoročne donose, se ne ukvarjamo. Glede na navedeno menimo, da ustrezno obvladujemo tržno tveganje in za zdaj ne potrebujemo dodatnih inštrumentov, s katerimi bi se pred njim varovali.

Tveganje spremembe vrednosti domače valute je zaradi vstopa Slovenije v Evrop-sko unijo in vstopanja v evropsko monetarno unijo ocenjeno kot majhno. Na mak-roekonomskem področju z gotovostjo pričakujemo nadaljevanje prizadevanj za zniževanje inflacije, dodatno pa se bo valutno tveganje po 1. 1. 2007 še zmanjšalo s prevzemom evra kot domačega plačilnega sredstva.

Pretežni del terjatev in obveznosti do tujine imamo že sedaj nominiran v evrih, pa tudi del finančnih plasmajev je vezan na evro. Zaradi velike stabilnosti evra ocenjujemo, da ne potrebujemo dodatnih inštrumentov za varovanje pred valutnim tveganjem.

Finally, liquidity risk is also reduced by the favourable possibilities of our short-term and long-term borrowing, which we would use in the event of the loss of an individual source of financing.

Credit risk, or the risk of contracting parties failing to settle, is re-duced by actively monitoring the credit ratings of our customers. Most of our business partnerships are long-term, which further contributes to the lower level of risk. For some occasional custom-ers, we also make use of various forms of collateral.

For a smaller portion of our customers with whom we deal occa-sionally or even just once, or that operate in unreliable commercial environments, we reduce the risk of default by the counterparty by requiring bank guarantees or advance payments. We continu-ously monitor receivables by business partner and by maturity, and through immediate collection, charging late payment inter-est, written reminders and ultimately also through court-ordered collection of due receivables, we contribute to improving the pay-ment discipline of our customers.

Credit risk also arises in business with suppliers, especially in the area of investments. In order to protect issued advances we therefore require bank guarantees, while payment of a portion of the contractual price is retained until final handover as a perfor-mance guarantee, to ensure high-quality execution of contracted capital works.

We manage interest rate risk on the assets side by diversifying the invested free cash into financial investments which vary in terms of their types and maturity, thus pursuing the maximum returns at a given level of risk.

On the liability side, we are not exposed to interest rate risk as our liabilities to foreign sources are not tied to variable interest rates.

Market risk is a price risk linked to the possibility of changes in market prices and in the returns from securities, or to unfavour-able events on the stock market.

Our investment policy focuses on secure and quality investments with positive long-term returns. We also ensure adequate diversi-fication by having banks manage part of our securities. We do not engage in speculative trading the sole purpose of which would be to achieve short-term returns. In view of the above, we believe that we are managing market risk adequately and that at present we do not require additional instruments to protect us against it.

Owing to Slovenia’s entry into the European Union and the Euro-pean Monetary Union, foreign exchange risk has been assessed as low. On the macroeconomic front, we can expect, with consid-erable certainty, continued efforts to reduce inflation, with ex-change rate risk being reduced further from 1 January 2007 due to the adoption of the euro as official tender in Slovenia.

Our foreign receivables and liabilities are primarily denominated in euros, and some of our investments are also linked to the euro. As a result of the high stability of the euro, our assessment is that we do not need additional instruments for protection against currency risk.


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POŠTENA VREDNOST FINANČNIH INŠTRUMENTOV / FAIR VALUE OF FINANCIAL INSTRUMENTS v tisoč tolarjih / SIT thousand

Knjigovodska vrednost 2006

Carrying amount 2006

Poštena vrednost 2006Fair value 2006

Knjigovodska vrednost 2005

Carrying amount 2005

Poštena vrednost 2005Fair value 2006

Za prodajo razpoložljiva finančna sredstvaFinancial investments available-for-sale

7.681.655 7.681.655 7.392.463 7.392.463

Dana posojilaLoans granted

2.914.126 2.914.126 3.207.902 3.207.902

Terjatve do kupcev in ostale terjatveTrade receivables and other receivables

1.149.695 1.149.695 712.228 712.228

Denarna sredstvaCash

142.733 142.733 121.202 121.202

Obveznosti do dobaviteljev in ostalihDomestic trade payables

1.202.015 1.202.015 595.115 595.115

Ocenjevanje poštene vrednosti finančnih inštrumentov

Poštena vrednost za prodajo razpoložljivih vrednostnih papirjev, ki kotirajo na borzi, je enaka objavljenemu enotnemu tečaju teh delnic na dan bilance stanja. Poštena vrednost delnic in deležev, ki ne kotirajo na borzi oziroma njihova poštena vrednost ni javno objavljena, se oceni na osnovi zadnjih znanih transakcij (če so nam na razpolago ustrezni podatki), če pa teh transakcij ni oziroma nimamo us-treznih zanesljivih informacij o morebitnih transakcijah, finančne naložbe vredno-timo po nabavni vrednosti.

Dana posojila se po začetnem pripoznanju po njihovi pošteni (pogodbeni) vrednosti v nadaljevanju izkazujejo po odplačni vrednosti.

Za terjatve do kupcev in obveznosti do dobaviteljev se predvideva, da njihova nomi-nalna vrednost kaže pošteno vrednost.

Povezane stranke

Povezane stranke so pridružena družba, člani nadzornega sveta in člani uprave družbe.

Odnosi s pridruženo družboDružba Aerodrom Ljubljana, d.d., je z družbo Aerodrom Portorož, d.o.o., poslovala na osnovi sklenjenih pogodb, pri čemer so bile v medsebojnih transakcijah upora-bljene tržne cene.

Estimated fair value of financial instruments

The fair value for available-for-sale securities listed on the stock exchange is the same as the published share price for these shares on the balance sheet date. The fair value of shares and participat-ing interest not listed on the stock exchange or whose fair value is not published, are estimated on the basis of the last known trans-action (if the information is available). If not such transactions are available, or the information is not sufficiently reliable, then financial investments are assessed at historical cost.

Loans granted are disclosed, after initial recognition at their fair (contractual) value, at their repayment value.

For trade receivables and trade payables the nominal value is as-sumed to reflect the fair value.

Related parties

Related parties are the associated company, members of the Su-pervisory Board and members of the Management Board.

Relations with associated companyAerodrom Ljubljana, d.d. dealt with Aerodrom Portorož d.o.o. on the basis of contracts, with market prices being used for any transactions between the parties.

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Odnosi s fizičnimi osebami Relations with individuals

ZNESKI BRUTO PREJEMKOV V LETU 2006 / GROSS EARNING IN 2006 v tisoč tolarjih / SIT thousand

Fiksni del prejemkovFixed earnings

Gibljivi del prejemkovVariable earnings

Drugi prejemkiOther earnings

SkupajTotal

Vinko Može, predsednik upraveVinko Može, president of management board

40.276 12.269 280 52.825

Zmago Skobir, član upraveZmago Skobir, member of management board

33.273 10.057 697 44.027

Zaposleni po individualnih pogodbah (povprečno 18,21 zaposlenega, iz opravljenih ur)Employees on individual contracts (average of 18.21 employees based on hours worked)

234.726 2.268 236.994

LASTNIŠTVO POVEZANIH FIZIČNIH OSEB NA DAN 31. 12. 2006 / OWNERSHIP OF ASSOCIATED INDIVIDUALS AS AT 31 DECEMBER 2006


Delež v kapitalu v odstotkihEquity capital interest (%)

Vinko Može 5.919 0.1559

Zmago Skobir 300 0.0079

Drago Čotar 320 0.0084

Fiksni del prejemkov vključuje plače in regres za letni dopust (200.000 tolarjev na posameznika). Gibljivi del prejemkov izkazuje izplačilo nagrade po sklepu nad-zornega sveta, med drugimi prejemki pa so zajete bonitete in jubilejne nagrade. V prikazanih podatkih niso zajeta povračila stroškov in premije dodatnega pokojnin-skega zavarovanja, ki jih plačuje družba vsem zaposlenim.

V letu 2006 so bili članom nadzornega sveta izplačani prejemki v skupnem znesku 13.190 tisoč tolarjev.

Družba Aerodrom Ljubljana, d.d., ni odobrila oziroma izplačala nobenega predujma ali posojila članom uprave in članom nadzornega sveta.

The fixed earnings include salaries and annual leave allowance (200,000 tolars per person). The variable earnings consist of bo-nuses paid by order of the supervisory board, while the fringe ben-efits include benefits in kind and loyalty bonuses. The figures do not include reimbursed expenses or supplementary pension insur-ance premiums paid by the company to all employees.

Earnings totalling 13,190 thousand tolars were paid to Supervi-sory Board members in 2006.

Aerodrom Ljubljana, d.d. did not approve or pay any advances or loans to Management Board or Supervisory Board members.


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Skupni zneski plačil revizorski družbi

V letu 2006 smo revizorski družbi KPMG Slovenija, d.o.o., za opravljene storitve plačali 5.262 tisoč tolarjev, in sicer za:

> revidiranje letnega poročila 5.173 tisoč tolarjev;> druge storitve 90 tisoč tolarjev (preveritev poravnanih obveznosti za potrebe javnega razpisa).

Pomembni dogodki po datumu bilance stanja

> 10. januarja je bila sklicana izredna seja skupščine, ki je potrdila sklep o spremembi v nadzornem svetu družbe. Janeza Potočnika je zamenjal mag. Franc Željko Županič, generalni direktor Direktorata za civilno letalstvo na Ministr- stvu za promet.

> Zadnje dni januarja je nizkostroškovni letalski prevoznik Wizz Air najavil, da s 1. marcem 2007 ukinja letalsko povezavo med Ljubljano in letališčem London Lu- ton v Veliki Britaniji.

> Aerodrom Ljubljana je kot ena izmed treh slovenskih družb z najboljšo bonitetno oceno prejel nagrado rating leta.

> 15. februarja je na svoji 14. seji nadzorni svet imenoval novega, tretjega člana uprave, mag. Janeza Kolarja.

Total payments to auditors

In 2006 we paid the auditing company KPMG Slovenija d.o.o. 5,262 thousand tolars for the following services:

> auditing the annual report – 5,173 thousand tolars> other services - 90 thousand tolars (checking settlement for a public tender).

Significant events after the balance sheet date

> On 10 January, an extraordinary session of the general meeting was convened which endorsed the resolution on the change to the Supervisory Board. Janez Potočnik was replaced by Franc Željko Županič, the director-general of the Civil Aviation Directorate at the Ministry of Transport.

> At the end of January, the low-fare airline Wizz Air announced that the air connection between Ljubljana and London’s Luton Airport in Great Britain would be terminated on 1 March 2007.

> Aerodrom Ljubljana is one of three Slovenian companies with the highest credit rating, and received the Rating of the Year award.

> On 15 February, at its 14th meeting, the Supervisory Board appointed its new, third member, Janez Kolar.

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Izhodišče za pripravo prvega poročanja po MSRP je sestavitev otvoritvene bilance stanja na dan prehoda – 1. 1. 2005. Izvedena je bila presoja vseh gospodarskih kategorij, izkazanih v otvoritveni bilanci po MSRP. Sledila so pripoznanja, odprave pripoznanj, prerazvrstitve in drugačna merjenja posameznih gospodarskih kat-egorij. Razlike so se pokazale v kapitalu, v okviru postavk preneseni čisti poslovni izid in presežek iz prevrednotenja.

Tako prilagojena začetna bilanca stanja je izhodišče za računovodsko poročanje v skladu z MSRP.

Prehod na MSRP je bil izpeljan skladno z MSRP 1, ki opredeljuje prvo uporabo medn-arodnih standardov. Standard zahteva, da družba uporablja iste računovodske us-meritve v svoji začetni bilanci stanja v skladu z MSRP in v vseh obdobjih, predstav-ljenih v prvih računovodskih izkazih po MSRP. Te usmeritve morajo biti v skladu z ustreznimi MSRP, veljavnimi na datum poročanja. Usmeritve so lahko drugačne od tistih, ki so se uporabljale za isti dan po prejšnjih računovodskih standardih. Prila-goditve se pripoznajo neposredno v prenesenem čistem poslovnem izidu ali drugi kategoriji kapitala. MSRP 1 prepoveduje spremembe računovodskih ocen za nazaj. V otvoritveni bilanci stanja na dan 1. 1. 2005 so bile prevzete računovodske ocene skladno z ocenami na zadnji dan obdobja pred prehodom na MSRP.

Bistvene razlike med računovodskimi izkazi, pripravljenimi v skladu s prejšnjimi računovodskimi standardi (SRS 2001), in računovodskimi izkazi, pripravljenimi v skladu z MSRP

Pripoznavanje neopredmetenih sredstev

V skladu z določili MSRP so bile v otvoritveni bilanci stanja izločene tiste po-stavke neopremetenih sredstev, ki niso izpolnjevale pogojev za pripoznavanje po MSRP, del neopredmetenih sredstev (projekti in pripravljalna dela za že zgrajene nepremičnine) pa je bil prerazporejen med nepremičnine, naprave in opremo.

Nepremičnine, naprave, oprema

Merjena so po modelu nabavne vrednosti, kar pomeni, da so izkazana po nabavni vrednosti, zmanjšani za amortizacijski popravek vrednosti in nabrano morebitno izgubo zaradi oslabitve. Na enak način so bila ta sredstva vrednotena tudi po SRS, zaradi česar ni prišlo do razlik iz naslova prehoda na MSRP.

Razvrščanje in merjenje finančnih sredstev

Ob prehodu na MSRP 1. 1. 2005 je bila večina finančnih naložb družbe označena kot finančna sredstva, razpoložljiva za prodajo, ki se merijo po poštenih vrednostih (prek kapitala). Zaradi spremenjenega vrednotenja teh naložb (po SRS po nabavni vrednosti, ob prehodu na MSRP pa po pošteni vrednosti) se je njihova vrednost povečala, učinek pa je bil pripoznan v postavki presežek iz prevrednotenja v okviru kapitala (vzporedno je bila evidentirana še obveznost za odloženi davek) in bo ob prodaji posamezne finančne naložbe prenesen v poslovni izid družbe.

The basis for preparing the company’s first IFRS-compliant an-nual report was the compilation of the opening balance – 1 Janu-ary 2005. Accounting judgments were made for all the economic categories included in the opening IFRS-compliant balance. This then led to recognition, reversal of recognition (derecognition), reclassification and other measurements of individual economic categories. The differences were reflected in equity, and in the items “net profit brought forward” and “revaluation surplus”.

The opening balance adjusted in this manner forms the basis for financial reporting in accordance with IFRS requirements.

The transition to the IFRS was carried out in accordance with IFRS 1, which defines the first time adoption of the IFRS. The standard requires that the company apply the same accounting policies in its initial IFRS-compliant balance statement as at 1 January 2005, and in all periods reported in the first IFRS financial state-ments. These policies must be in accordance with the appropriate international financial reporting standards, valid on the reporting date. The policies may differ from those used on the same date, according to the previous accounting standards. The adjustments are recognised directly in the net profit (or loss) brought forward or another equity category. IFRS 1 prohibits retroactive changes to accounting estimates. The opening balance on 1 January 2005 included accounting estimate in accordance with the estimates on the final day of the period before the transition to the IFRS.

Principle differences between the financial statements prepared in accordance with the previous standards (Slovenian Accounting Standards 2001 – SAS), and the financial statements prepared in accordance with the IFRS

Recognition of intangible assets

In accordance with IFRS provisions, intangible asset items that do not meet the conditions for recognition in accordance with the IFRS were excluded from the opening balance sheet, and part of the intangible assets (projects and preparatory work for property already constructed) was reclassified under property, plant and equipment.

Property, plant and equipment

These are measured using the historical cost model, which means that they are disclosed at historical costs, reduced by a deprecia-tion adjustment and any cumulative loss due to impairment. These assets were valued in the same way as under the SAS, so there were no differences caused by the transition to IFRS.

Classification and measurement of financial instruments

On the transition to the IFRS on 1 January 2005, most of the company’s financial investments were considered as financial

6. PREHOD NA MEDNARODNE STANDARDE RAČUNOVODSKEGA POROČANJA (MSRP) TRANSITION TO INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)


130

Del naložb v delnice in deleže, za katere poštene vrednosti ni mogoče zanesljivo ugotoviti, je merjenih po nabavni vrednosti.

Manjši del finančnih naložb predstavljajo še dolgoročni in kratkoročni depoziti, dani bankam. Uvrstili smo jih v skupino posojila in terjatve, ki se merijo po odplačni vrednosti.

Višina kapitala

Kot posledica sprememb zaradi prehoda na MSRP se je skupna vrednost kapitala v otvoritveni bilanci stanja na dan 1. 1. 2005 povečala. Iz naslova prevrednoten-ja finančnih naložb na pošteno vrednost (opisanega v “Razvrščanje in merjenje finančnih sredstev”) je bil pripoznan presežek iz prevrednotenja, za učinke ostalih sprememb prehoda pa se je povečal preneseni čisti poslovni izid. Splošni prevred-notovalni popravek kapitala (revalorizacija do leta 2001) je bil le prerazporejen med kapitalske rezerve.

Rezervacije in dolgoročne PČR

Odpravljene so bile dolgoročne rezervacije, ki niso izpolnjevale meril za pripozna-vanje po MSRP. Skladno z MSRP pa smo pripoznali rezervacije za vnaprej vračunane stroške jubilejnih nagrad in odpravnin ob upokojitvi, katerih višino smo ocenili na osnovi aktuarskih izračunov. Vse spremembe iz naslova odprave pripoznanj in novih pripoznanj rezervacij so se v otvoritveni bilanci stanja pokazale v prenese-nem čistem poslovnem izidu.

Obračun odloženih davkov

V računovodskih izkazih po MSRP so bili prvič evidentirani odloženi davki. Ugo-tovljeni so bili po metodi obveznosti po bilanci stanja na osnovi začasnih razlik med knjigovodskimi in davčnimi vrednostmi posameznih sredstev in obveznosti. Ugotovljene obdavčljive in odbitne razlike ob prehodu na MSRP smo pobotali in na osnovi salda ugotovili davčno obveznost, ki jo izkazujemo kot posebno postavko v okviru dolgoročnih obveznosti. Terjatve za odložene davke iz naslova oblikovanja dolgoročnih rezervacij za jubilejne nagrade in obveznosti za odloženi davek iz naslova evidentiranja presežka iz prevrednotenja finančnih naložb smo evidenti-rali ločeno, med terjatvami in obveznostmi za odložene davke.

instruments available-for-sale, which are measured according to fair value (through equity). The amended evaluation of these in-vestments (by historical costs according to the SAS, and by fair value after transition to the IFRS) led to their value increasing, and the effect was recognised in the item revaluation surplus un-der equity (in parallel the deferred tax liability was also recorded) and will be transferred to the company’s income statement on sale of the financial instrument.

Part of the investments in shares and participating interests, for which the fair value cannot be reliably determined, are measured according to historical cost.

A small portion of the financial assets comprise long-term and short-term deposits at banks. They were classified in the group of loans and receivables measured according to their repayment value.

Value of equity

The changes caused by the transition to the IFRS, led to an in-crease in the total value of equity in the opening balance for 1 January 2005. The revaluation for financial instruments at fair value (described in “Classification and measurement of financial instruments”) was recognised by means of a revaluation adjust-ment, while the effect of other changes caused by the transition was reflected in an increase in the net profit carried forward. The general capital revaluation adjustment (revaluation up to 2001) was reclassified to capital reserves.

Provisions and non-current accrued expenses and de-ferred revenues

Recognition was reversed for long-term provisions that did not fulfil the criteria for IFRS recognition. In accordance with the IFRS we recognised provisions for the costs of loyalty bonuses and severance pay on retirement, calculated in advance based on actuary calculations. All changes arising from derecognition and the recognition of new provisions were reflected in the net profit brought forward in the opening balance.

Calculation of deferred taxes

Deferred taxes were recorded in the IFRS financial statements for the first time. They were determined using the balance sheet liability method, based on the temporary differences between the carrying amount of an asset or liability and its tax base for tax reporting. The taxable or deductible differences that occurred on the transition to the IFRS were offset and the tax liability de-termined on the basis of the balance, which was disclosed as a separate item under non-current liabilities. Deferred tax receiv-ables from long-term provisions for loyalty bonuses and deferred tax liabilities from the revaluation of financial instruments were recorded separately, disclosed as deferred tax liabilities and re-ceivables.

132

BILANCA STANJA – PRILAGODITEV S SRS NA MSRP / BALANCE SHEET – RECONCILIATION FROM SAS TO IFRS v tisoč tolarjih / SIT thousand

Pojasnila Notes

SRS 31.12.2004 SAS 31.12.2004

Prilagoditev na MSRPIFRS adjustment

MSRP otvoritev 1.1.2005IFRS opening balance 1.1.2005

SRS 31.12.2005 SAS 31.12.2005


MSRP 31.12.2005SAS 31.12.2005

SREDSTVAASSETS 1 21.709.594 1.891.766 23.601.360 21.984.112 2.082.430 24.066.542

A DOLGOROČNA SREDSTVANON-CURRENT ASSETS 16.713.987 2.442.216 19.156.203 17.858.641 2.722.810 20.581.451

Neopredmetena sredstva Intangible assets 2 151.262 -73.746 77.516 99.073 -26.555 72.518

- dolgoročne premoženjske pravice- non-current property rights

76.891 0 76.891 72.518 0 72.518

- dolgoročno odlož. str. razvijanja- non-current deferred R&D costs

65.913 -65.913 0 11.208 -11.208 0

- neopredmetena sredstva v pridobivanju- intangible assets in acquisition

8.458 -7.833 625 15.347 -15.347 0

Nepremičnine, naprave in opremaProperty, plant and equipment 2 10.836.800 49.200 10.886.000 12.132.619 15.347 12.147.966

- zemljišča- land

1.088.173 0 1.088.173 1.602.539 0 1.602.539

- zgradbe- buildings

6.196.744 0 6.196.744 8.289.497 0 8.289.497

- naprave in oprema- plant and equipment

1.355.321 0 1.355.321 1.829.029 0 1.829.029

- nepremičnine, naprave in oprema v pridobivanju- property, plant and equipment in acquisition

2.196.562 49.200 2.245.762 411.554 15.347 426.901

Naložbe v pridružene družbeInvestments in associates

300.000 0 300.000 300.000 0 300.000

Dolgoročne finančne naložbeNon-current financial investments 3 5.425.925 2.422.250 7.848.175 5.326.949 2.687.716 8.014.665

- za prodajo razpoložljiva finančna sredstvafinancial investments available-for-sale

4.584.435 2.509.894 7.094.329 4.674.882 2.717.581 7.392.463

- dolgoročna posojilalong-term loans

841.490 -87.644 753.846 652.067 -29.865 622.202

Odložene terjatve za davekDeferred tax receivables 4 0 44.512 44.512 0 46.302 46.302

B KRATKOROČNA SREDSTVACURRENT ASSETS 4.995.607 -550.450 4.445.157 4.125.471 -640.380 3.485.091

ZalogeInventories

67.804 0 67.804 60.942 0 60.942

Kratkoročne finančne naložbeCurrent financial investments 5 3.939.925 -550.450 3.389.475 3.226.080 -640.380 2.585.700

- kratkoročne finančne naložbe razen posojil- current financial investments excl. loans

638.094 -638.094 0 670.245 -670.245 0

- kratkoročna posojilashort-term loans

3.301.831 87.644 3.389.475 2.555.835 29.865 2.585.700

Kratkoročne poslovne terjatveCurrent trade receivables

913.854 0 913.854 712.228 0 712.228

- kratkoročne poslovne terjatve do kupcev- current trade receivables

533.464 0 533.464 677.193 0 677.193

- kratkoročne poslovne terjatve do drugih- other current receivables

380.390 0 380.390 35.035 0 35.035

Denarna sredstvaCash funds

72.525 0 72.525 121.202 0 121.202


1.499 0 1.499 5.019 0 5.019

133

BILANCA STANJA – PRILAGODITEV S SRS NA MSRP / BALANCE SHEET – RECONCILIATION FROM SAS TO IFRS v tisoč tolarjih / SIT thousand

Pojasnila Notes

SRS 31.12.2004 SAS 31.12.2004



SRS 31.12.2005 SAS 31.12.2005


MSRP 31.12.2005SAS 31.12.2005

SREDSTVAASSETS 1 21.709.594 1.891.766 23.601.360 21.984.112 2.082.430 24.066.542

A DOLGOROČNA SREDSTVANON-CURRENT ASSETS 16.713.987 2.442.216 19.156.203 17.858.641 2.722.810 20.581.451

Neopredmetena sredstva Intangible assets 2 151.262 -73.746 77.516 99.073 -26.555 72.518

- dolgoročne premoženjske pravice- non-current property rights

76.891 0 76.891 72.518 0 72.518

- dolgoročno odlož. str. razvijanja- non-current deferred R&D costs

65.913 -65.913 0 11.208 -11.208 0

- neopredmetena sredstva v pridobivanju- intangible assets in acquisition

8.458 -7.833 625 15.347 -15.347 0

Nepremičnine, naprave in opremaProperty, plant and equipment 2 10.836.800 49.200 10.886.000 12.132.619 15.347 12.147.966

- zemljišča- land

1.088.173 0 1.088.173 1.602.539 0 1.602.539

- zgradbe- buildings

6.196.744 0 6.196.744 8.289.497 0 8.289.497

- naprave in oprema- plant and equipment

1.355.321 0 1.355.321 1.829.029 0 1.829.029

- nepremičnine, naprave in oprema v pridobivanju- property, plant and equipment in acquisition

2.196.562 49.200 2.245.762 411.554 15.347 426.901

Naložbe v pridružene družbeInvestments in associates

300.000 0 300.000 300.000 0 300.000

Dolgoročne finančne naložbeNon-current financial investments 3 5.425.925 2.422.250 7.848.175 5.326.949 2.687.716 8.014.665

- za prodajo razpoložljiva finančna sredstvafinancial investments available-for-sale

4.584.435 2.509.894 7.094.329 4.674.882 2.717.581 7.392.463

- dolgoročna posojilalong-term loans

841.490 -87.644 753.846 652.067 -29.865 622.202

Odložene terjatve za davekDeferred tax receivables 4 0 44.512 44.512 0 46.302 46.302

B KRATKOROČNA SREDSTVACURRENT ASSETS 4.995.607 -550.450 4.445.157 4.125.471 -640.380 3.485.091

ZalogeInventories

67.804 0 67.804 60.942 0 60.942

Kratkoročne finančne naložbeCurrent financial investments 5 3.939.925 -550.450 3.389.475 3.226.080 -640.380 2.585.700

- kratkoročne finančne naložbe razen posojil- current financial investments excl. loans

638.094 -638.094 0 670.245 -670.245 0

- kratkoročna posojilashort-term loans

3.301.831 87.644 3.389.475 2.555.835 29.865 2.585.700

Kratkoročne poslovne terjatveCurrent trade receivables

913.854 0 913.854 712.228 0 712.228

- kratkoročne poslovne terjatve do kupcev- current trade receivables

533.464 0 533.464 677.193 0 677.193

- kratkoročne poslovne terjatve do drugih- other current receivables

380.390 0 380.390 35.035 0 35.035

Denarna sredstvaCash funds

72.525 0 72.525 121.202 0 121.202


1.499 0 1.499 5.019 0 5.019


134


Pojasnila Notes

SRS 31.12.2004 SAS 31.12.2004



SRS 31.12.2005 SAS 31.12.2005


MSRP 31.12.2005SAS 31.12.2005

OBVEZNOSTI DO VIROV SREDSTEVLIABILITIES 1 21.709.594 1.891.766 23.601.360 21.984.112 2.082.430 24.066.542

A KAPITALEQUITY

18.639.580 2.055.387 20.694.967 19.697.883 2.166.920 21.864.803

Vpoklicani kapitalCalled-up capital

3.796.527 0 3.796.527 3.796.527 0 3.796.527

- osnovni kapitalshare capital

3.796.527 0 3.796.527 3.796.527 0 3.796.527

Kapitalske rezerveEquity reserves

6 0 5.820.295 5.820.295 0 5.820.295 5.820.295

Rezerve iz dobičkaProfit reserves

7.704.564 0 7.704.564 9.293.141 0 9.293.141

- zakonske rezervelegal reserves

961.682 0 961.682 961.682 0 961.682

- statutarne rezervereserves under the articles of association

2.415.626 0 2.415.626 2.400.463 0 2.400.463

- druge rezerve iz dobička- other profit reserves

4.327.256 0 4.327.256 5.930.996 0 5.930.996

Presežek iz prevrednotenjaRevaluation surplus

7 0 1.403.850 1.403.850 0 1.563.420 1.563.420

Zadržani čisti dobičekRetained net profit

1.318.194 651.537 1.969.731 787.920 603.500 1.391.420

- preneseni čisti poslovni izidnet profit or loss brought forward

8 502.154 651.537 1.153.691 220 651.537 651.757

- čisti poslovni izid poslovnega letanet profit (or loss) for financial year

816.040 0 816.040 787.700 -48.037 739.663

Prevrednotovalni popravek kapitalaRevaluation capital adjustment

6 5.820.295 -5.820.295 0 5.820.295 -5.820.295 0

B. REZERVACIJEPROVISIONS

9 1.531.711 -795.869 735.842 1.436.841 -758.707 678.134

Rezervacije za jubilejne nagrade, odpravnineProvisions for loyalty bonuses and severance pay

0 178.046 178.046 0 185.208 185.208

Druge rezervacijeOther provisions

1.531.711 -1.531.711 0 1.436.841 -1.436.841 0

Dolgoročne pasivne časovne razmejitveNon-current accrued expenses and deferred revenues

0 557.796 557.796 0 492.926 492.926

C. DOLGOROČNE OBVEZNOSTINON-CURRENT LIABILITIES

1.229 632.248 633.477 1.044 674.217 675.261

Dolgoročne poslovne obveznostiNon-current accounts payables

1.229 0 1.229 1.044 0 1.044

Odložene obveznosti za davekDeferred tax liabilities

10 0 632.248 632.248 0 674.217 674.217

E. KRATKOROČNE OBVEZNOSTICURRENT LIABILITIES

1.537.074 0 1.537.074 848.344 0 848.344

Kratkoročne poslovne obveznostiCurrent operating liabilities

1.536.439 0 1.536.439 845.138 0 845.138

- kratkoročne poslovne obveznosti do dobaviteljev- current accounts payable

941.503 0 941.503 418.060 0 418.060

- druge kratkoročne poslovne obveznostiother current accounts payable

567.474 0 567.474 177.055 0 177.055

- obveznosti za davek od dobička- liabilities for tax on profit

27.462 0 27.462 250.023 0 250.023

Pasivne časovne razmejitveAccrued expenses and deferred revenues

635 0 635 3.206 0 3.206

135


Pojasnila Notes

SRS 31.12.2004 SAS 31.12.2004



SRS 31.12.2005 SAS 31.12.2005


MSRP 31.12.2005SAS 31.12.2005

OBVEZNOSTI DO VIROV SREDSTEVLIABILITIES 1 21.709.594 1.891.766 23.601.360 21.984.112 2.082.430 24.066.542

A KAPITALEQUITY

18.639.580 2.055.387 20.694.967 19.697.883 2.166.920 21.864.803

Vpoklicani kapitalCalled-up capital

3.796.527 0 3.796.527 3.796.527 0 3.796.527

- osnovni kapitalshare capital

3.796.527 0 3.796.527 3.796.527 0 3.796.527

Kapitalske rezerveEquity reserves

6 0 5.820.295 5.820.295 0 5.820.295 5.820.295

Rezerve iz dobičkaProfit reserves

7.704.564 0 7.704.564 9.293.141 0 9.293.141

- zakonske rezervelegal reserves

961.682 0 961.682 961.682 0 961.682

- statutarne rezervereserves under the articles of association

2.415.626 0 2.415.626 2.400.463 0 2.400.463

- druge rezerve iz dobička- other profit reserves

4.327.256 0 4.327.256 5.930.996 0 5.930.996

Presežek iz prevrednotenjaRevaluation surplus

7 0 1.403.850 1.403.850 0 1.563.420 1.563.420

Zadržani čisti dobičekRetained net profit

1.318.194 651.537 1.969.731 787.920 603.500 1.391.420

- preneseni čisti poslovni izidnet profit or loss brought forward

8 502.154 651.537 1.153.691 220 651.537 651.757

- čisti poslovni izid poslovnega letanet profit (or loss) for financial year

816.040 0 816.040 787.700 -48.037 739.663

Prevrednotovalni popravek kapitalaRevaluation capital adjustment

6 5.820.295 -5.820.295 0 5.820.295 -5.820.295 0

B. REZERVACIJEPROVISIONS

9 1.531.711 -795.869 735.842 1.436.841 -758.707 678.134

Rezervacije za jubilejne nagrade, odpravnineProvisions for loyalty bonuses and severance pay

0 178.046 178.046 0 185.208 185.208

Druge rezervacijeOther provisions

1.531.711 -1.531.711 0 1.436.841 -1.436.841 0

Dolgoročne pasivne časovne razmejitveNon-current accrued expenses and deferred revenues

0 557.796 557.796 0 492.926 492.926

C. DOLGOROČNE OBVEZNOSTINON-CURRENT LIABILITIES

1.229 632.248 633.477 1.044 674.217 675.261

Dolgoročne poslovne obveznostiNon-current accounts payables

1.229 0 1.229 1.044 0 1.044

Odložene obveznosti za davekDeferred tax liabilities

10 0 632.248 632.248 0 674.217 674.217

E. KRATKOROČNE OBVEZNOSTICURRENT LIABILITIES

1.537.074 0 1.537.074 848.344 0 848.344

Kratkoročne poslovne obveznostiCurrent operating liabilities

1.536.439 0 1.536.439 845.138 0 845.138

- kratkoročne poslovne obveznosti do dobaviteljev- current accounts payable

941.503 0 941.503 418.060 0 418.060

- druge kratkoročne poslovne obveznostiother current accounts payable

567.474 0 567.474 177.055 0 177.055

- obveznosti za davek od dobička- liabilities for tax on profit

27.462 0 27.462 250.023 0 250.023

Pasivne časovne razmejitveAccrued expenses and deferred revenues

635 0 635 3.206 0 3.206


136

IZKAZ POSLOVNEGA IZIDA – PRILAGODITEV S SRS NA MSRP / INCOME STATEMENT – RECONCILIATION FROM SAS TO IFRS v tisoč tolarjih / SIT thousand

Pojasnila Notes

SRS 2005 SAS 2005


MSRP 2005IFRS 2005

Poslovni prihodkiOperating revenues

6.300.236 1.653 6.301.889

Prihodki od prodajeSales revenues

6.231.456 0 6.231.456

Drugi poslovni prihodkiOther operating revenues

11 68.780 1.653 70.433

Poslovni odhodkiOperating expenses 4.343.139 41.275 4.384.414

Stroški blaga, materiala in storitevCost of products, materials and services 1.172.595 30.000 1.202.595

Stroški materialaMaterial costs

12 300.370 12.000 312.370

Stroški storitevService costs

12 872.225 18.000 890.225

Stroški delaLabour cost

13 1.913.545 7.162 1.920.707

AmortizacijaDepreciation

14 1.236.886 -13.339 1.223.547

Drugi poslovni odhodkiOther operating expenditure

11 20.113 17.452 37.565

POSLOVNI IZID IZ POSLOVANJA (EBIT)OPERATING PROFIT (EBIT) 1.957.097 -39.622 1.917.475

Neto finančni prihodki/odhodkiNet financial revenues/expenses

521.060 -37.225 483.835

Finančni prihodki Financial revenues

15 535.923 -39.002 496.921

Finančni odhodki Financial expenses

15 14.863 -1.777 13.086

Neto izredni prihodki/odhodkiNet extraordinary revenues/expenses

-15.799 15.799 0

Izredni prihodkiExtraordinary revenues

11 1.653 -1.653 0

Izredni odhodkiExtraordinary expenditure

11 17.452 -17.452 0

POSLOVNI IZID PRED OBDAVČITVIJOPRE-TAX PROFIT 2.462.358 -61.048 2.401.310

Davek iz dobička Tax on profit

493.109 0 493.109

Odloženi davkiDeferred taxes

0 -13.011 -13.011

ČISTI POSLOVNI IZID OBRAČUNSKEGA OBDOBJANET PROFIT (OR LOSS) FOR FINANCIAL YEAR 1.969.249 -48.037 1.921.212

137

Pojasnila prehoda na MSRP

1. Sredstva in obveznosti do virov sredstev Kot posledica prehoda na MSRP se je v otvoritveni bilanci na dan 1. 1. 2005 vred-nost sredstev in obveznosti do virov sredstev povečala za 1.891.766 tisoč tolarjev, kolikor znaša neto učinek sprememb gospodarskih kategorij ob prehodu.

2. Neopredmetena sredstva in nepremičnine, naprave in opremaNeopredmetena sredstva so bila ob prehodu na MSRP zmanjšana za 73.746 tisoč tolarjev, in sicer:

> za 24.546 tisoč tolarjev iz naslova odprave pripoznanj tistih postavk sredstev, ki niso izpolnjevale pogojev za pripoznavanje po MSRP, kar se je pokazalo v prenesenem čistem poslovnem izidu;

> za 49.200 tisoč tolarjev iz naslova prerazporeditve postavk, ki se vsebinsko nanašajo na projekte in pripravljalna dela za že zgrajene zgradbe, med nepremičnine, naprave in opremo.

Nepremičnine, naprave in oprema so bile povečane za 49.200 tisoč tolarjev zaradi prerazporeditve iz neopredmetenih sredstev.

3. Dolgoročne finančne naložbeSpremembe v okviru dolgoročnih finančnih naložb, ki so bile izvedene ob prehodu na MSRP 1. 1. 2005, so znašale 2.422.250 tisoč tolarjev in so sledeče:

> terjatve za obresti od dolgoročnih depozitov v višini 87.644 tisoč tolarjev so bile prenesene med kratkoročne finančne naložbe;

> finančne naložbe v znesku 638.094 tisoč tolarjev so bile iz kratkoročnih prerazporejene med dolgoročne finančne naložbe;

> iz naslova prevrednotenja na pošteno vrednost so bile dolgoročne finančne naložbe povečane za 1.871.800 tisoč tolarjev, kar se je pokazalo v pripoznanju presežka iz prevrednotenja finančnih naložb za 1.403.850 tisoč tolarjev in pripadajoči obveznosti za odloženi davek za 467.950 tisoč tolarjev. Del vrednostnih papirjev je bil po slovenskih računovodskih standardih (SRS) razvrščen med kratkoročne finančne naložbe. Po MSRP so v skladu s finančno politiko družbe v celoti razvrščeni med dolgoročne finančne naložbe.

Notes on the transition to the IFRS

1. Assets and liabilities The changes introduced by the transition to the international fi-nancial reporting standards (IFRS) led to an increase in the open-ing balance as at 1 January 2005 in the value of assets and liabili-ties of 1,891,766 thousand tolars, which is the net effect of the changes to economic categories, effected by the transition.

2. Intangible assets and property, plant and equipmentIntangible assets were reduced on transition to the IFRS by 73,746 thousand tolars, as follows:

> by 24,546 thousand tolars due to the derecognition of asset items that did not meet the conditions for IFRS-compliant recognition, which was reflected in the net profit brought forward

> and by 49,200 thousand tolars from the reclassification to property, plant and equipment of items relating to projects and preparatory works for buildings already constructed.

Property, plant and equipment were increased by 49,200 thou-sand tolars due to this reclassification from intangible assets.

3. Non-current financial investmentsThe changes to non-current financial investments brought about by the IFRS-transition on 1 January 2005 amounted to 2,422,250 thousand tolars, as follows:

> interest receivables from long-term deposits worth 87,644 thousand tolars were transferred to current financial investments

> financial investments worth 638,094 thousand tolars were reclassified from current to non-current financial investments

> the revaluation at fair value led to non-current financial investments increasing by 1,871,800 thousand tolars, which was reflected in the recognition of a revaluation surplus of 1,403,850 thousand tolars and related deferred tax liabilities 467,950 thousand tolars. Some securities had been classified among current financial investments under the SAS (Slovenian Accounting Standards). The IFRS classification, in accordance with the company’s financial policy, classifies all securities as non-current financial investments.


138

Dolgoročne finančne naložbe predstavljajo finančni potencial družbe, ki bo v pri-hodnosti uporabljen za naložbe skladno s strategijo razvoja družbe, zato so bile opredeljene kot razpoložljive za prodajo. Naložbe v obveznice in delnice družb, ki kotirajo na borzi, so bile v skladu s SRS ovrednotene po nakupni vrednosti, ki ni smela biti višja od borzne vrednosti na dan bilance stanja, v skladu z MSRP pa je bila njihova vrednost prevrednotena na borzno vrednost na dan bilance stanja. Del-nice in deleži v družbah, ki ne kotirajo na borzi, so bili po SRS vrednoteni po nabavni vrednosti, družba pa je vsako leto ocenila potrebo po oslabitvi glede na informacijo o poslovanju teh družb. V skladu z MSRP so bile naložbe, za katere je bilo možno pridobiti informacije o trgovalnih vrednostih, prevrednotene na pošteno vrednost, za naložbe, za katere pa ni informacij o transakcijah, pa je družba na osnovi infor-macij o poslovanju ocenila, da nabavna vrednost ustreza pošteni vrednosti (to se nanaša na naložbe v skupni vrednosti 113.095 tisoč tolarjev).

4. Odložene terjatve za davekVzpostavljene so bile odložene terjatve za odloženi davek iz naslova oblikovanja dolgoročnih rezervacij za jubilejne nagrade, odpravnine v višini 44.512 tisoč to-larjev.

5. Kratkoročne finančne naložbeIz naslova prenosa kratkoročnih finančnih naložb med dolgoročne in terjatev za obresti iz dolgoročnih med kratkoročne finančne naložbe (pojasnilo 3) znaša neto učinek znižanja kratkoročnih finančnih naložb ob prehodu 550.450 tisoč tolarjev.

6. Kapitalske rezerveSplošni prevrednotovalni popravek kapitala v višini 5.820.295 tisoč tolarjev je bil prerazporejen med kapitalske rezerve.

7. Presežek iz prevrednotenjaIz naslova prevrednotenja finančnih naložb na pošteno vrednost je bil pripoznan presežek iz prevrednotenja v znesku 1.403.850 tisoč tolarjev (pojasnilo 3).

8. Preneseni čisti poslovni izidPreneseni čisti poslovni izid se je povečal za 651.537 tisoč tolarjev. Spremembe na postavki dolgoročnih rezervacij povečujejo preneseni čisti poslovni izid za 795.869 tisoč tolarjev (pojasnilo 9), odprava pripoznanja neopredmetenih sredstev, ki so po vsebini strošek, pa ga zmanjšuje za 24.546 tisoč tolarjev (pojasnilo 2). Preneseni čisti poslovni izid je bil znižan za evidentirano obveznost za odloženi davek, ki je znašala 164.298 tisoč tolarjev (pojasnilo 10) in zvišan za vzpostavljeno terjatev za odloženi davek v višini 44.512 tisoč tolarjev (pojasnilo 4).

Non-current financial investments represent the company’s fi-nancial potential, which can be used in future for investment, in line with company strategy. For this reason, they are classified as available-for-sale. Investments in the shares and stakes of com-panies listed on the stock exchange were evaluated at historical cost under the SAS, which could not be higher than their market value on the balance sheet date. According to the IFRS they were revalued to match their market value on the balance sheet date. The SAS valued shares and stakes in companies not listed on the stock exchange according to historical cost, and each year the company assessed the need for impairment, based on the infor-mation on the operating results of these companies. According to the IFRS, investments for which market value information was available were revalued at fair value, while on the basis of the op-erating results Aerodrom Ljubljana assessed that the historical value equated to the fair value for investments for which no such information was available (this involves investments with a total value of 113,095 thousand tolars).

4. Deferred tax receivablesDeferred tax receivables arising from the formation of non-cur-rent provisions for loyalty bonuses and retirement severance pay were established at 44,512 thousand tolars.

5. Current financial investmentsThe transfer of current financial investment to non-current in-vestments, and of interest receivables from non-current to cur-rent financial investments (Note 3), meant that the transition to the IFRS had a net effect of reducing current financial invest-ments by 550,450 thousand tolars.

6. Capital reservesThe general capital revaluation adjustment of 5,820,295 thou-sand tolars was reclassified to capital reserves.

7. Revaluation surplusThe revaluation of financial investments to fair value led to the recognition of a revaluation surplus of 1,403,850 thousand tolars (Note 3).

8. Net profit brought forwardThe net profit brought forward increased by 651,537 thousand tolars. The changes to the long-term provision item increased the net profit brought forward by 795,869 thousand tolars (Note 9), and the derecognition of intangible assets that were expenses by nature reduced the net profit brought forward by 24,546 thou-sand tolars (Note 2). The net profit brought forward was reduced by deferred tax liabilities, which totalled 164,298 thousand tolars (Note 10) and increased by deferred tax receivables of 44,512 thousand tolars (note 4).

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SPREMEMBE V KAPITALU NA DAN 1. 1. 2005 / CHANGES IN EQUITY AS AT 1 JANUARY 2005 v tisoč tolarjih / SIT thousand

1. 1. 2005

Vrednost kapitala na dan 31. 12. 2004 po SRSValue of equity as at 31 December 2004 according to SAS

18.639.580

Zmanjšanje splošnega prevrednotovalnega popravka kapitala (SPPK)Reduction in general capital revaluation adjustment (GCRA)

-5.820.295

Povečanje kapitalskih rezerv zaradi prenosa SPPKIncrease in capital reserves due to transfer of GCRA

5.820.295

Oblikovanje presežka iz prevrednotenja finančnih naložb, razpoložljivih za prodajoFormation of revaluation surplus from financial investments available-for-sale

1.403.850

Zmanjšanje zadržanega dobička za izločitev neopredmetenih sredstevDecrease in retained earnings due to exclusion of intangible assets

-24.546

Povečanje zadržanega dobička zaradi ukinitve dolgoročnih rezervacijIncrease in retained earnings due to derecognition of long-term provisions

973.915

Zmanjšanje zadržanega dobička za oblikovane rezervacije za odpravnine in jubilejne nagradeDecrease in retained earnings to form provisions for loyalty bonuses and retirement severance pay

-178.046

Zmanjšanje zadržanega dobička za oblikovano obveznost za odložene davke Decrease in retained earnings from deferred tax liabilities

-164.298

Povečanje zadržanega dobička za vzpostavljeno terjatev za odloženi davek Increase in retained earnings from deferred tax receivables

44.512

Vrednost kapitala na dan 1. 1. 2005 po MSRPValue of equity as at 1 January 2005 according to IFRS

20.694.967

9. Rezervacije Rezervacije so se v skupnem znesku znižale za 795.869 tisoč tolarjev, kar povečuje preneseni čisti poslovni izid. Rezervacije v višini 973.915 tisoč tolarjev, za ka-tere ni osnove za pripoznavanje po MSRP, so bile v otvoritveni bilanci na dan 1. 1. 2005 odpravljene, na novo pa so bile pripoznane rezervacije za vnaprej vračunane stroške odpravnin in jubilejnih nagrad v višini 178.046 tisoč tolarjev.

10. Odložene obveznosti za davek Odloženi davki, ki izhajajo iz začasnih razlik med knjigovodskimi in davčnimi vred-nostmi posameznih sredstev in obveznosti, so bili izračunani ob uporabi metode obveznosti po bilanci stanja. Veljavna stopnja za izračun odloženih davkov znaša 25 %. Skupna obveznost za odloženi davek, pripoznana v otvoritveni bilanci po MSRP, znaša 632.248 tisoč tolarjev, od tega:

> 467.950 tisoč tolarjev predstavljajo obveznosti za odloženi davek, pripoznane zaradi prevrednotenja finančnih naložb na pošteno vrednost (te obveznosti bodo poravnane v letih, ko bodo finančni prihodki iz naslova naložb tudi uresničeni) – pojasnilo 3;

9. Provisions The total value of provisions decreased by 795,869 thousand to-lars, which increased the net profit brought forward. Recognition was reversed for provisions worth 973,915 thousand tolars for which there was no basis for recognition pursuant to the IFRS in the opening balance as at 1 January 2005. New provisions worth 178,046 thousand tolars were recognised for loyalty bonuses and severance pay on retirement calculated in advance.

10. Deferred tax liabilities Deferred tax liabilities based on the temporary differences be-tween the carrying amount of an asset or liability and its tax base were determined using the balance sheet liability method. The val-id tax rate for calculating these deferred tax liabilities was 25%. The total deferred tax liability recognised in the IFRS-compliant opening balance is 632,248 thousand tolars, of which:

> 467,950 thousand tolars representing deferred tax liabilities recognised due to the revaluation of financial investments at fair value (these liabilities will be settled when the financial revenues arising from the investments are realised ) – Note 3


140

> 164.298 tisoč tolarjev pa se nanaša na obveznosti za odloženi davek iz naslova prilagoditve vseh ostalih gospodarskih kategorij (pojasnilo 8). Dokončno bo poravnana do leta 2008, s tem da je potrebno v letu 2006 v davčno osnovo vključiti najmanj tretjino razlik ob prehodu.

11. Drugi poslovni prihodki, odhodki, izredni prihodki, odhodkiPostavke izrednih prihodkov in odhodkov, izkazanih po SRS v letu 2005, so bile prerazporejene med druge poslovne prihodke in odhodke.

12. Stroški materiala in stroški storitevStroški materiala in storitev leta 2005 so bili povečani za črpane dolgoročne rezer-vacije za investicijsko vzdrževanje v letu 2005 po SRS, katerih pripoznanje je bilo ob prehodu na MSRP odpravljeno.

13. Stroški delaStroški dela leta 2005 so višji za znesek uskladitve višine potrebnih rezervacij za vnaprej vračunane stroške odpravnin in jubilejnih nagrad na dan 31. 12. 2005, glede na višino teh rezervacij na dan 1. 1. 2005.

14. AmortizacijaZnižanje amortizacije predstavlja v letu 2005 obračunano amortizacijo tistih neo-predmetenih sredstev, katerih pripoznanje je bilo v otvoritveni bilanci stanja po MSRP na dan 1. 1. 2005 odpravljeno.

15. Finančni prihodki in odhodkiFinančni prihodki in odhodki so se znižali za del po SRS pripoznanih finančnih pri-hodkov in odhodkov, ki zaradi vrednotenja finančnih naložb po pošteni vrednosti po MSRP rezultirajo v presežku iz prevrednotenja.

> 164,298 thousand tolars relates to deferred tax liabilities arising from the reconciliation of all other economic categories (Note 8). The settlement will be finalised by 2008, and at least one third of the difference arising from the IFRS-transition must be included in the tax base for 2006.

11. Other operating revenues and expenses, and ex-traordinary revenues and expensesThe extraordinary revenues and expenses disclosed pursuant to the SAS in 2005 were reclassified as other operating revenues and other operating expenses.

12. Costs of material and servicesThe costs of materials and services in 2005 were increased by the drawing on long-term provisions for investment maintenance in 2005 pursuant to the SAS, which were derecognised on transition to the IFRS.

13. Labour costsLabour costs for 2005 were increased by the amount reconciling the provisions required for loyalty bonuses and severance pay on retirement calculated in advance as at 31 December 2005, in rela-tion to the amount of these provisions as at 1 January 2005.

14. Depreciation and amortisationThe decrease in amortisation in 2005 comes from the amortisa-tion calculated for the intangible assets, which were derecognised by the IFRS-compliant opening balance as at 1 January 2005.

15. Finance revenues and expensesFinancial revenues and expenses decreased by the portion recog-nised as financial revenues and expenses by the SAS, which re-sults in the revaluation surplus after the revaluing of financial investments at fair value, in line with the IFRS.

141

Predstavitev učinkov prilagoditve postavk po MSR na dan 31. 12. 2005

Bilanca stanjaZaradi prilagoditve postavk bilance stanja ob prehodu na MSRP se je bilančna vsota na dan 31. 12. 2005 povečala za 2.082.430 tisoč tolarjev glede na bilančni vsoti, ugotovljeni po SRS.

Pri neopredmetenih sredstvih in pri nepremičninah, napravah in opremi so nas-tale spremembe zaradi prenosa neopredmetenih sredstev v pridobivanju na nepremičnine, naprave in opremo v pridobivanju v višini 15.347 tisoč tolarjev in zaradi izločitve neopredmetenih sredstev, ki po MSRP nimajo osnove za pripozna-vanje, v višini 11.208 tisoč tolarjev.

Dolgoročne in kratkoročne finančne naložbe so se povečale za 2.047.336 tisoč tolarjev. Kratkoročne finančne naložbe razen posojil so bile v višini 670.245 tisoč tolarjev prenesene na dolgoročne finančne naložbe, dolgoročna posojila so bila v višini 29.865 tisoč tolarjev prenesena na kratkoročna posojila. Dolgoročne finančne naložbe, razpoložljive za prodajo, so se povečale za 2.047.336 tisoč tolarjev zaradi vrednotenja po pošteni vrednosti, ki je bila višja kot knjigovodska vrednost po SRS na dan 31. 12. 2005.

Odložene terjatve za davek so se povečale za 46.302 tisoč tolarjev in se nanašajo na oblikovane rezervacije za jubilejne nagrade, odpravnine.

Obveznosti do virov sredstev so se povečale zaradi učinkov prehoda na MSRP pri kapitalu za 2.166.920 tisoč tolarjev. Od teg znaša povečanje presežka iz prevred-notenja zaradi vrednotenja finančnih naložb po pošteni vrednosti 1.563.420 tisoč tolarjev, povečanje zadržanega dobička zaradi učinka ostalih sprememb prehoda pa 603.500 tisoč tolarjev.

Rezervacije so se zmanjšale za 758.707 tisoč tolarjev: ukinjene so bile dolgoročne rezervacije v viši 943.915 tisoč tolarjev, oblikovane so bile rezervacije za odprav-nine in jubilejne nagrade v višini 185.208 tisoč tolarjev. Del rezervacij, ki se nanaša na dotacije proračuna za financiranje nepremičnin, naprav in opreme je bil pre-nesen na dolgoročne pasivne časovne razmejitve v višini 492.926 tisoč tolarjev.

Vzpostavljene so bile obveznosti za odložene davke v skupni višini 674.217 tisoč tolarjev.

Izkaz poslovnega izidaOb upoštevanju vseh prilagoditev postavk izkaza poslovnega izida zaradi prehoda na MSRP se je čisti poslovni izid leta 2005 znižal za 48.037 tisoč tolarjev. Čisti poslovni izid je za leto 2005 po MSRP znašal 1.921.212 tisoč tolarjev.

Effects of IFRS adjustments as at 31 December 2005

Balance sheet total Due to the adjustment of balance sheet items required by the transition to the IFRS, the balance sheet total as at 31 December 2005 increased by 2,082,430 thousand tolars, compared to the balance sheet total determined in accordance with the Slovenian Accounting Standards - SAS.

The changes made to intangible assets and property, plant and equipment (PPE) related to the transfer of intangible assets under construction worth 15,347 thousand tolars to PPE under construction, and due to the exclusion of intangible assets worth 11,208 thousand tolars for which there was no basis for recogni-tion under the IFRS.

Non-current and current financial investment increased by 2,047,336 thousand tolars. Current financial investments exclud-ing loans worth 670,245 thousand tolars were transferred to non-current financial investments, while long-term loans worth 29,865 thousand tolars were transferred to short-term loans. Non-current financial investments available-for-sale increased by 2,047,336 thousand tolars due to the revaluation to fair value, which was higher than the book value pursuant to SAS on 31 December 2005.

Deferred tax receivables increased by 46,302 thousand tolars. They relate to the formation of provisions for loyalty bonuses and retirement severance pay.

The effect of transition to the IFRS on equity increased liabilities by 2,166,920 thousand tolars. This included the increase in the revaluation surplus due to the revaluing of financial investments at fair value (1,563,420 thousand tolars), and the increase in re-tained earnings due to the additional effects of the transition to the IFRS (603,500 thousand tolars).

Provisions decreased by 758,707 thousand tolars: long-term provisions worth 943,915 thousand tolars were derecognised, while provisions for loyalty bonuses and retirement severance pay worth 185,208 thousand tolars were formed. The portion of provisions relating to budget grants for financing PPE was trans-ferred to non-current accrued expenses and deferred income, in the amount of 492,926 thousand tolars.

Deferred tax liabilities with a total value of 674,217 thousand to-lars were established.

Income statementTaking into account all the adjustments to income statement items required by the IFRS transition, the net profit for 2005 decreased by 48,037 thousand tolars. The net profit for 2005, disclosed in accordance with the IFRS, was 1,921,212 thousand tolars.


Letno poročilo 2006 Aerodrom Ljubljana / Annual Report 2006 Aerodrom Ljubljana

Založil in izdal: Aerodrom Ljubljana, d.d., Zgornji Brnik 130a, SI-4210 Brnik-aerodrom / Published by: Aerodrom Ljubljana, d.d., Zgornji Brnik 130a, SI-4210 Brnik-aerodrom, Slovenia

Kontaktna oseba: Brigita Zorec, strokovna sodelavka za odnose z javnostmi, T: 04 20 61 103, e-pošta: [email protected] /Contact: Brigita Zorec, Public relations consultant, T: + 386 4 20 61 103, e-mail: [email protected]

Besedilo: Aerodrom Ljubljana, d.d. / Text: Aerodrom Ljubljana, d.d.

Produkcija / Production: Fit media d.o.o.

Oblikovanje / Design: Janja Vogrin

Fotografije / Photography: Peter Marinšek

Lektura in prevod / Text editing and translation: Amidas, d.o.o.

Tisk / Printed by: Eurograf d.o.o.

Naklada / Print run: 400 copies

Junij 2007 / June 2007

Letno poročilo 2006 je nastalo v sodelovanju z zaposlenimi Aerodroma Ljubljana. / Annual Report 2006 was created in collaboration with Aerodrom Ljubljana employees.

na letališču smo v letu 2006 pozdravili 1.334.355 potnikov ... lp 2006-povzetek-ang.pdfa large...

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