V.1 Funding of TKC: annual accounts of the business years 1998 and 1999

 

V.1.1 Annual accounts of the business year 1998

 

    

From the annual accounts of TKC, certified by the auditor, the income statement and the balance sheet as per 31.12.1998 are presented:

 

    
Table 12: Income Statement 1998
 
 
01.01. - 31.12.1998
09.10. - 31.12.1997
 
ATS
ATS
ATS in thousands
  1. Turnover  
64.261,757.84
0
  2.
Other operational revenue  
  a) Revenue from release of reserves 803,450.76
  b) Other 5,659.01
 
809,109.77 0
  3.
 Personal expenses  
a) Salaries -25.201,259.95 -1,113
b) Expenses for severance payments -496,864.00 -14
c) Social security expenses and salary related expenses -6.249,879.,11 -181
   d) Other social expenses - 56,500.57 -32.004,503.63
  4. Depreciation on fixed assets -3.008,965.58 -9
  5. Other operational expenses
a) Taxes others than included in item 11 -238,929.25 -1,160
  b) Other -23.409,403.26 -23.648.332,51 -6,261
  6.  Subtotal of items 1 to 5
6.409,065.89
-8,738
  7. Interest and other income 2.064,462.82
294
  8. Interest and other expenses -987.02 0
  9. Subtotal of item 7 and 8 Financial result
2.063,475.80
294
10. Operating profit
8.472,541.,69
-8,444
11. Income tax
-17,500.,00
-4
12. Annual loss/profit
8.455,041.,69
-8,448
13. Provision for reserves not taxable
-746,561.00
-7
14. Loss carried forward -8.454,647.64
0
15. Net loss
-746,166.95
-8,455

 
On the basis of the operating profit of ATS 8.472,541.69 achieved it was possible to provide cover for the loss of ATS 8.454.647,64 carried forward from the previous year (incomplete business year 1997). The net loss results from the provision for reserves not taxable of ATS 746,561.00 also performed in 1998.

 

  The turnover of TKC which is mainly made up from the mandatory financial contributions of the licensed telecommunications operators, as provided in Art. 17 (2) TKG, amounted to ATS 64.261,757.84 in 1998.
Table 13: Balance sheet 1998
    Assets       Liabilities
  31.12.1998 31.12.1997     31.12.1998 31.12.1997
  ATS ATS in thousands     ATS ATS in thousands
A. Assets:   A. Equity
I. Intangible assets,
1. Industrial property rights and similar rights 		2.612,723.00 0 I. Share capital 50.000,000.00 50,000
  2.612,723.00   II. Net loss, including loss carried forward ATS 8.454,647.64 -746,166.95 -8,455
        49.253,833.05 41,545
II. Fixed assets     B. Reserves untaxed
Other reserves untaxed

 

 1. Investment in leasehold 3.626,172.00   Tax allowance for investment 1997 7,253.00  
  2. Other assets, fixtures, tools and equipment 3.148,761.00 71 Tax allowance for investment 1998 746,561.00 7
  6.774,933.00 71   753,814.00 7
III. Financial assets
Other advances 		40.000,000.00 0 C. Accrued liabilities
  40.000,000.00 0 1. Reserves for severance payments 352,000.00 14
  49.387,656.00 71 2. Tax reserves 0.00 648
      3. Other reserves 6.017,000.00 736
        6.369,000.00 1,398
B. Current assets D. Liabilities
I. Receivables and other assets     1. Trade accounts payable 2.037,647.22 2,845
  1. Trade accounts receivable 996,299.00 0 2. Other liabilities (including from taxes ATS 54,553.00; previous year ATS 190 (in thousands), including for social security ATS 525,323.88; previous year ATS 165 (in thousands) 25.465,983.08 357
  2. Other receivables and assets, including from taxes ATS 742,979.25 1.800,647.63 1,344
  2.796,946.63 1,344
     
II. Cash at bank and in hand 31.695,674.72 44,729   27.503,630.30 3,202
  34.492,621.35 46,073    
         
C. Deferred expenses and accrued income 0,00 8    
  83.880,277.35 46,152   83.880,277.35 46,152

 
 
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