V.1.2 Annual accounts of the business year 1999

 

    

For the annual accounts of TKC for the business year 1999 (the business year of TKC corresponds to the calendar year), too, certification by the auditor has been provided. As for 1998, the income statement and the balance sheet of TKC are presented:

 

  

In 1999, too, the turnover of TKC was mainly made up from the mandatory financial contributions of the licensed telecommunications operators, as provided in Art. 17 (2) TKG, and amounted to ATS 73.121,477.87. The net loss amounting to ATS 1.378,104.93 resulted mainly from the provision for reserves not taxable, which was performed again, and the loss carried forward from the previous years.

 
Table 14: Income statement 1999
 
1999
1998
 
ATS
ATS
ATS in thousands
 ATS in thousands
  1. Turnover  
73.121,477.87
 
 64,262
  2.
Other operational revenue
  a) Revenue from release of reserves 920,436.00 803
  b) Other 1.645,566.55 2.566,002.55 6 809
  3.
 Personal expenses  
a) Salaries -36.170,035.84 -25,201
b) Expenses for severance payments -896,960,00 -497
c) Social security expenses and salary related expenses -7.876,213.25 -6,250
  d) Other social expenses -284,231.61 45.227,440.70 -57 -32,005
  4. Depreciation on fixed assets -4.670,260.44   -3,009
  5. Other operational expenses
a)Taxes others than included in item 11 -81,447.95 -239  
  b) Other -27.654,651.80 -27.736,099.75 -23,409 -23,648
  6.  Subtotal of items 1 to 5
-1.946,320.47
   -6,409
  7. Interest and other income 1.698,536.94 2,064
  8. Interest and other expenses -6.45 -1
  9. Subtotal of item 7 and 8
Financial result
1.698,530.49
 2,063
10. Operating profit
-247,789.98
 -8,472
11. Income tax
-25,000.00
 -17
12. Annual loss/profit
-272,789.98
 -8,455
13.  Release of reserves not taxableTax allowance for investment (pursuant to Art. 10 EstG)
39,299.00
 0
14. Provision for reserves not taxableTax allowance for investment (pursuant to Art. 10 EstG) -398,447.00 -747
15. Loss carried forward from previous years
-746,166.95
 -8,455
16. Net loss   -746,166.95 -746

 
Comparing the balance sheets of 1998 and 1999, it shows that the structures on the assets side of the balance sheets 1998 and 1999 have hardly changed; also the items A) Equity, B) Reserves untaxed and C) Accrued liabilities do not show any significant changes in 1998 and 1999. However, if the current assets on the left side and the liabilities (item D) on the right side of the balance sheet are compared, it shows that in 1999 there was a considerable increase in receivables but also in liabilities, as against the balance sheet of 1998. The receivables increased from about ATS 1 million to more than ATS 20 million, the liabilities from approx. ATS 27.5 million in 1998 to more than ATS 45.5 million in 1999.

 

 

These changes are due to the financing system of TKC and show that in 1999 the expenditure for regulatory activity, in relation to the mandatory financial contributions, was lower than originally expected. The liabilities refer mainly to credits derived from excessive financial contributions by the licensed operators. These credits will be set off in the business year 2000 in the course of the financial contributions, thus reducing the financial contributions of the telecommunications operators in the business year 2000.

Table 15: Balance sheet 1999
    Assets       Liabilities
  31.12.1999 1998     31.12.1999 1998
  ATS ATS in thousands     ATS ATS in thousands
A. Assests:   A. Equity
I. Intangible assets,
1. Industrial property rights and similar rights 		2.646,664.00 2,613 I. Share capital 50.000,000.00 50,000
  2.646,664.00 2,613 II. Net loss (including loss carried forward ATS 746,166.95; previous year ATS 8,455 (in thousands) -1.378,104.93 -746
        48.621,895.07 49,254
II. Fixed assets     B. Reserves untaxed

 

 1. Investment in leasehold 4.316,003.00 3,626 1. Other reserves untaxed Tax allowance for investment pursuant to Art. 10 EStG 1.112,962.,00 754
  2. Other assets, fixtures, tools and equipment 4.068,802.00 3,.149      
  8.384,805.00 6,775      
III. Financial assets     C. Accrued liabilities
  1. Securities 24.985,820.64 0 1. Reserves for severance payments 1.233,000.00 352
  2. Other advances 15.197,135.89 40,000 2. Other reserves 8.973,000.00 6,017
  40.182,956.53 40,000     10.206,000.00 6,369
  51.214,425.53 49,388      
           
B. Current assets D. Liabilities
I. Receivables and other assets     1. Trade accounts payable 2.283,716.02 2,038
  1. Trade accounts receivable 20.316,996.76 996 2. Other liabilities (including from taxes ATS 4.003,113.75; previous year ATS 55 (in thousands); including for social security ATS 727,789.11; previous year ATS 525 (in thousands) 43.236,438.27 25,466
  2. Other receivables and assets 269,994.72 1,801
  20.586,.991.48 2,.797
     
II. Cash at bank and in hand 33.525,.594.35 31,696   45.520,154.29 27,504
  54.112,585.83 34,493    
         
C. Deferred expenses and accrued income 134,.000.00 0    
  105.461,011.36 83,881   105.461,011.36 83,881
 
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