Individual Financial Statements 2018 2
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Individual Financial Statements 2018 2 CONTENT INDIVIDUAL FINANCIAL STATEMENTS AS AT 31 DECMEBER 2018 .................................................. 3 Balance sheet as at 31 December 2018 ......................................................................................... 3 Income statment for the 2018 financial year ................................................................................... 5 NOTES TO THE 2018 FINANCIAL STATEMENTS OF STRABAG SE, VILLACH ..................................... 6 I. Application of Austrian Business Enterprise Code ...................................................................... 6 II. Accounting policies ..................................................................................................................... 6 III. Notes to the balance sheet ........................................................................................................ 8 IV. Notes to the income statement ................................................................................................ 10 V. Additional disclosures ............................................................................................................... 10 Statement of changes in non-current assets as of 31 December 2018 (Appendix 1 to the Notes of the financial statements) .................................................................. 12 List of participations (20.00 % interest minimum) (Appendix 2 to the Notes of the financial statements) .................................................................. 14 Management and Supervisory Board (Appendix 3 to the Notes of the financial statements) ......... 16 MANAGEMENT REPORT .................................................................................................................. 17 Important events ........................................................................................................................... 17 Country report ............................................................................................................................... 25 Order backlog ............................................................................................................................... 41 Financial performance .................................................................................................................. 42 Financial position and cash flows ................................................................................................. 44 Capital expenditures ..................................................................................................................... 46 Financing/Treasury ........................................................................................................................ 46 Report on the financial performance, financial position and cash flows of STRABAG SE (Individual financial statements) ............................................................................. 49 Segment report ............................................................................................................................. 51 Risk management ......................................................................................................................... 59 Research and development .......................................................................................................... 65 Website Corporate Governance Report........................................................................................ 66 Disclosures under Sec 243a Para 1 UGB ..................................................................................... 66 Related parties .............................................................................................................................. 67 Outlook ......................................................................................................................................... 68 Events after the reporting period .................................................................................................. 68 AUDITOR’S REPORT ......................................................................................................................... 69 3 INDIVIDUAL FINANCIAL STATEMENTS AS AT 31 DECEMBER 2018 Balance sheet as at 31 December 2018 31.12.2018 31.12.2017 Assests € T€ A. Non-current assets: I. Property, plant and equipment: Other facilities, furniture and fixtures and office equipment 1,055,293.52 981 II. Financial assets: 1. Investments in subsidiaries 2,558,859,447.27 2,558,390 2. Loans to subsidiaries 0.00 22,965 3. Investments in participation companies 25,401,039.23 22,012 4. Loans to participation companies 90,476,606.16 89,610 5. Other loans 21,255.09 21 2,674,758,347.75 2,692,998 2,675,813,641.27 2,693,978 B. Current assets: I. Accounts receivable and other assets: 1. Trade receivables 32,882.16 12 2. Receivables from subsidiaries 767,711,422.07 937,127 thereof with a remaining term more than one year 250,000,000.00 250,000 3. Receivables from participation companies 9,312,724.65 15,978 thereof with a remaining term more than one year 2,193,570.13 4,070 4. Other receivables and assets 32,657,620.52 29,308 thereof with a remaining term more than one year 23,956,000.00 23,056 809,714,649.40 982,426 II. Cash assets, including bank accounts 118,014.79 81 809,832,664.19 982,508 C. Accrual and deferrals 838,942.00 1,433 D. Deferred tax assets 5,526,163.00 4,909 Total 3,492,011,410.46 3,682,828 Individual financial statements 4 31.12.2018 31.12.2017 Equity and liabilities € T€ A. Equity: I. Called up and paid in nominal capital (share capital): Subscribed nominal capital (share capital) 110,000,000.00 110,000 less nominal value of own shares -7,400,000.00 -7,400 102,600,000.00 102,600 II. Capital reserves (committed) 2,152,047,129.96 2,152,047 III. Retained earnings: 1. Legally required reserves 72,672.83 73 2. Voluntary reserves 478,249,596.81 500,432 478,322,269.64 500,505 IV. Reserves for own shares 7,400,000.00 7,400 V. Unappropriated net profit 143,000,000.00 143,000 thereof profit brought forward 9,620,000.00 7,030 2,883,369,399.60 2,905,552 B. Provisions: 1. Provisions for severance payments 0.00 393 2. Provisions for taxes 615,000.00 615 3. Other provisions 28,645,700.00 29,131 29,260,700.00 30,139 C. Accounts payable: 1. Bonds 500,000,000.00 675,000 thereof with a remaining term up to one year 100,000,000.00 175,000 thereof with a remaining term more than one year 400,000,000.00 500,000 2. Bank borrowings 18,500,000.00 18,500 thereof with a remaining term up to one year 18,500,000.00 0 thereof with a remaining term more than one year 0.00 18,500 3. Trade payables 1,053,971.60 1,168 thereof with a remaining term up to one year 1,053,971.60 1,168 4. Payables to subsidiaries 19,917,093.82 35,398 thereof with a remaining term up to one year 19,917,093.82 35,398 5. Payables to participation companies 27,293,738.34 300 thereof with a remaining term up to one year 27,293,738.34 300 6. Other payables 12,616,507.10 16,771 thereof taxes 1,265,602.67 1,303 thereof social security liabilities 19,703.76 19 thereof with a remaining term up to one year 12,616,507.10 16,771 579,381,310.86 746,837 thereof with a remaining term up to one year 179,381,310.86 228,637 thereof with a remaining term more than one year 400,000,000.00 518,500 Total 3,492,011,410.46 3,682,528 Individual financial statements 5 Income statement for the 2018 financial year 2018 2017 € T€ 1. Revenue (Sales) 63,530,379.76 62,741 2. Other operating income 618,682.38 1,127 3. Cost of materials and services: a) Materials -54,580.22 -64 b) Services -17,065,868.54 -16,365 -17,120,448.76 -16,429 4. Employee benefits expense: a) Salaries -8,581,985.12 -8,118 b) Social expenditure -717,351.00 -692 thereof severance payments and contributions to employee benefit plans -148,821.64 -80 thereof social security contributions, as well as payroll-related and other mandatory contributions -375,960.44 -360 thereof other social expenditure -192,568.92 -252 -9,299,336.12 -8,809 5. Depreciation -29,533.65 -18 6. Other operating expenses: a) Taxes other than those included in item 15 -113,609.19 -711 b) Miscellaneous -17,523,524.95 -16,910 -17,637,134.14 -17,621 7. Subtotal of items 1 through 6 (operating result) 20,062,609.47 20,991 8. Income from investments 86,505,943.27 25,192 thereof from subsidiaries 84,886,727.41 22,585 9. Other interest and similar income 31,662,939.18 36,792 thereof from subsidiaries 23,872,244.47 30,857 10. Income from disposal and write-up of financial assets and marketable securities 243,353.00 4,163 11. Expenses related to financial assets: a) Depreciation from subsidiaries -3,542,000.00 -39,572 b) Other depreciation -308,434.60 -156 c) Other expenses from subsidiaries -10,604.71 -3 d) Other -2,250,001.00 -1,500 -6,111,040.31 -41,231 12. Interest and similar expenses -18,946,549.83 -26,616 thereof from subsidiaries 0.00 4 13. Subtotal of item 8 through 12 (financial result) 93,354,645.31 -1,700 14. Result before taxes 113,417,254.78 19,291 15. Taxes on income and gains -2,219,679.71 -1,461 thereof income tax -952,947.12 -1,089 thereof tax allocation -1,883,702.59 -2,728 thereof deferred tax income 616,970.00 2,355 16. Income after taxes = net income for the year 111,197,575.07 17,830 17. Reversal of retained earnings (voluntary reserves) 22,182,424.93 118,140 18. Profit for the period 133,380,000.00 135,970 19. Profit brought forward 9,620,000.00 7,030 20. Unappropriated net profit 143,000,000.00 143,000 6 NOTES TO THE 2018 FINANCIAL