On Monday, May 28, HEP d.d. Supervisory Board and General Assembly meetings were held.
The Supervisory Board approved the Report on the Company’s Operations January 1 to February 28, 2007, and the Report on the Company’s Operations January 1 to March 30, 2007, and, among other things, adopted Decision on making lists of inventory, receivables and obligations as at December 31, 2006.
HEP d.d. General Assembly reviewed the reports on the operations of Hrvatska Elektroprivreda in 2006 and the Report of the Supervisory Board on the supervision carried out over the operations of Hrvatska Elektroprivreda d.d. in 2006. It also reviewed annual financial reports of HEP d.d. for 2006, namely: Basic Financial Reports for HEP d.d., Auditor’s Report for HEP d.d., HEP Group Consolidated Financial Statements, and Auditor’s Report for HEP Group. Operating profit in 2006 for HEP Group is 216,870,074.21 kuna (or 241.88 million kuna including profit of TE Plomin – RWE portion), and for HEP d.d. it is 111, 603,267.61 kuna. After that, Decision was adopted concerning the use of HEP d.d. profit, whereby 35,237,429.72 kuna is allocated to legal reserves (in the amount of 5 percent of the profit) and to other reserves (in an amount equivalent to deferred tax assets for the year), and retained earnings are 76,365,837.89 kuna. Retained earnings will be used for additional investment programs of HEP d.d., namely, for Reconstruction Program (60 million kuna) and Voltage Restoration and Supply Reliability Improvement Program (16,365,837.89 kuna). HEP d.d. General Assembly then gave a statement of release for the business year 2006 to the president and members of HEP d.d. Management Board and adopted the Decision approving the work (statement of release) of the Supervisory Board for the business year 2006.
