ANNUAL REPORT FOR 2020
PURSUANT TO
Act No. 256/2004 Coll., on Capital Market Undertakings, as amended
Act No. 563/1991 Coll., on Accounting, as amended
Act No. 90/2012 Coll., on Business Corporations
Severomoravské vodovody a kanalizace Ostrava a.s.
Registered office: 28. října 1235/169, Mariánské Hory, 709 00 Ostrava
The Company is incorporated in the public register – Register of Companies maintained by the
Regional Court in Ostrava, File B, Insert 347
Date of Incorporation: 1 May 1992
Company ID No.: 45193665
Tax ID No.: CZ45193665
Telephone: 596 697 111
Fax: 596 624 205
E-mail: smvak@smvak.cz
Website:
www.smvak.cz
2
CONTENTS
1. INTRODUCTION ................................................................................................................................. 3
2. SCOPE OF BUSINESS ....................................................................................................................... 6
3. COMPANY PROFILE .......................................................................................................................... 7
Key Events in 2020 ................................................................................................................................... 8
4. ORGANISATIONAL STRUCTURE...................................................................................................... 9
Decision-making Process and Composition of the Bodies of the Company ................................................ 9
5. DEVELOPMENT OF THE COMPANY’S REGISTERED CAPITAL AND EQUITY ..............................19
6. SECURITIES ......................................................................................................................................20
7. RIGHTS ARISING FROM OWNERSHIP OF SECURITIES .................................................................22
8. MANDATORY INFORMATION PURSUANT TO THE ACT ON CAPITAL MARKET
UNDERTAKINGS...............................................................................................................................23
Corporate Control Instruments .................................................................................................................23
Company Codes ......................................................................................................................................26
Decision-Making Process and Scope of Powers of the General Meeting ..................................................27
9. ACCESS TO THE ANNUAL REPORT ...............................................................................................28
10. THE CONTROLLED AND CONTROLLING PARTIES ........................................................................28
11. THE BOARD OF DIRECTORS REPORT ON BUSINESS OPERATIONS of the company and the
state of its assets .............................................................................................................................30
Key Financial Results for 2020 .................................................................................................................30
Income ....................................................................................................................................................31
Expenses ................................................................................................................................................32
Profit/loss ................................................................................................................................................32
Financing .................................................................................................................................................32
Organisational Matters and Human Resources ........................................................................................35
Profit/loss, Dividend per Share .................................................................................................................35
Court, Administrative and Arbitration Proceedings ....................................................................................36
Business Operations ................................................................................................................................39
Projected Business Development and Financial Position in 2021 .............................................................41
12. PRINCIPAL ACTIVITIES ....................................................................................................................43
Water Resources .....................................................................................................................................43
Drinking Water Production .......................................................................................................................43
Operation of Sewage Systems .................................................................................................................47
Investment Projects and Repairs of Tangible Assets ................................................................................51
13. INFORMATION TECHNOLOGIES .....................................................................................................58
14. SUSTAINABLE DEVELOPMENT ......................................................................................................58
Corporate Governance ............................................................................................................................58
Human Resources ...................................................................................................................................59
Environment ............................................................................................................................................61
Region .....................................................................................................................................................63
3
15. THE SUPERVISORY BOARD’S STATEMENT WITH RESPECT TO THE REGULAR FINANCIAL
STATEMENTS FOR THE ACCOUNTING YEAR 2020, ANNUAL REPORT FOR THE
ACCOUNTING PERIOD 2020 AND RESULTS OF THE REVIEW OF THE REPORT ON
RELATIONS FOR THE ACCOUNTING YEAR 2020 ............................................................................66
16. AUDITOR’S REPORT............................................................................................................................67
17. POST BALANCE SHEET EVENTS.......................................................................................................72
18. APPROVAL OF THE FINANCIAL STATEMENTS................................................................................72
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1. INTRODUCTION
Dear Shareholder, Ladies and Gentlemen,
We hereby present a report that comprehensively documents the activities and operations
of our company in 2020. This year was completely different from what everyone expected
and planned, not only in the Czech Republic but worldwide. The global spread of the novel
coronavirus contested most of the existing certainties established customs, rules and
procedures. In both personal and professional lives, we encountered completely new
situations, which we had to tackle flexibly, fast and often without pre-defined strategies and
procedures. We often had to enter uncharted territory and find effective solutions that
could only be found outside traditional ways of thinking.
During the exceptionally difficult year, the Company managed to provide reliable supplies
of high-quality drinking water in all locations of its operation, as well as drainage and
treatment of wastewater. Therefore, the Company fulfilled its main tasks it is facing in the
long-term. And it fulfilled them also in other domains, such as in the HR, economic-
customer or investment areas, even though it often achieved them through other ways
than originally expected.
First of all, I would like to thank everyone who contributed to SmVaK Ostrava fulfilling its
tasks in the individual segments of our activities. I appreciate that I can be the head of a
company whose employees, when facing difficult, uncomfortable and unknown situations,
when it is necessary to be flexible and react fast, both in the field and operations and in the
office, use their commitment and skills to tackle these problems so that they do not
negatively affect our customers.
The new situation also brought new challenges. It transpired that many solutions that had
previously seemed unfeasible, or feasible only at great costs and over a long period of
time, could be implemented very fast thanks to the knowledge, competence and motivation
of people. This applies not only to education and the functioning of public administration,
but also the business sector, the waterworks industry, and, of course, the Company.
In the times of the state of emergency and closed customer centres and sales points, the
Company proved that it can handle the majority of customer requests by using modern
technologies without the need for personal contact. The same applies to the area of
expressing opinions and gathering data from water metres. The coronavirus pandemic
shifted the Company towards a higher rate of computerisation, more efficient use of IT
tools and an improved IT infrastructure. This realisation is important for the following
period and we will continue to develop this area intensely. It is one of the Company’s main
goals and challenges for the following period, which will help it shift its services even
closer to its customers with regard to customer friendliness and comfort, as customer
satisfaction is absolutely essential for the Company.
Despite all the difficulties, the Company managed to fulfil its plans not only in investments,
where we allocated an all-time-high amount of CZK 693 million, but also in repairs, where
we allocated more than CZK 217 million. We exceeded the set plan in both areas. I am
glad that these figures prove, in contrast to the claims of certain critics, that the Company
takes good care of the waterworks infrastructure in its possession with all seriousness and
responsibility with regard to its future use and reliable operation.
5
Especially the first wave of the novel coronavirus in spring 2020 had a major impact on
social life but also the industry and services sector. A number of important suppliers from
among industrial businesses temporarily suspended their production; the sector of
services or education was also dampened for practically the entire year.
This resulted in a decreased demand for drinking water or wastewater production in the
related objects. The move of the major part of people’s lives to their homes, whether due
to working from home, sick leave, quarantine or childcare, was not able to compensate for
this decrease. Yet we can state that compared to other regions in the Czech Republic –
especially those dependant on tourism and services for foreign clientele – the situation in
our region was mostly stable and the decrease in drinking water production amounted to
4.4% (2,650 thousand m3) year-on-year. We supplied 412 thousand m3 more drinking
water to households year-on-year.
The Company is aware that it does not perform its activities in a vacuum but is closely
linked to the region in which it operates. The year full of difficulties only emphasised the
fact that in times of distress, businesses have to help where help is needed. This applies
to the Company as well.
Most cultural events could not take place at all and sports and leisure events could be
organised only in certain parts of the year and in a restricted mode. In relation to this, the
Company flexibly adjusted the aim of its socially responsible activities. Some projects,
which were already supported as part of our traditional programme for motivated
employees active in the non-profit sector entitled “We are in this together!”, had to be
changed as we went along. Therefore, in one case, the funds were not used for the
organisation of a cultural event but for buying gifts for children who had to spend
Christmas in a hospital.
We also supported volunteers who went to help people in quarantine or sick with COVID-
19. We donated to the project for the manufacture of face shields for healthcare workers in
the front line.
We also thought of our former colleagues to whom we offered help in case they were
quarantined, sick with COVID-19 or unable to go shopping or run necessary errands in
person simply because they were concerned about the spread of the disease. I could
continue by listing more examples of activities we performed due to the COVID-19
pandemic.
Therefore, besides our employees, whom I have already thanked above, I would like to
thank representatives of the municipalities in which we operate, state and public
administration representatives, all our suppliers, business partners and customers for their
constructive cooperation in 2020. It was only thanks to cooperation, helpfulness, and the
will of all involved to find mutually acceptable solutions to sensitive and difficult problems,
that we managed to successfully overcome the challenges of the past year.
Anatol Pšenička
Managing Director
6
2. SCOPE OF BUSINESS
Scope of business of Severomoravské vodovody a kanalizace Ostrava a.s.:
Design work for capital construction
Official metering
Inspections of power installations (according to the authorisation of IBP Ostrava of 25 March
1991, registration No.: 1841/10.00/91-EZ-R-S)
Civil engineering construction projects, including residential compounds
Business management services excl. Annexes to Act No. 455/91 Coll.
Freight road transport
Water systems plumbing services
Metal machining
Production, repair and installation of metering devices
Production and distribution of hot water
Construction work upon building and repair of water supply and sewage systems
Sanitation of sewage systems and sewage service connections
Hazardous waste management
Tax advisory, bookkeeping and maintaining tax-related records
Public water supply and sewage systems operation
Production of electricity
Production trades and services not included in Annexes 1 – 3 to the Trade Licensing
Act, specifically in the following areas:
Public water supply and sewage systems operation
Waste management /excluding hazardous waste management /
Metering testing, analyses and checks
Advisory and consultancy, preparation of expert studies and opinions
Wholesale and retail
Trade and services brokering
Rental of other machinery and equipment
Automated data processing
Accommodation services
Lease of movables and real estate, including services
Rental of machinery and equipment
Provision of technical services
Realty services, real estate property management and maintenance
Administration services and organisational and business services
Research and development in the field of technical sciences or social sciences
Storage
Production, repair and installation of metering devices.
During 2020, no modifications were made to the scope of business. The Company remains
engaged in its business activities within the above-stated areas.
The scope of business of the Company’s branch entitled Severomoravské vodovody
a kanalizace Ostrawa a.s., oddzial w Polsce
The scope of business of the branch in Poland is identical to the scope of business of
SmVaK Ostrava a.s. in the territory of the Czech Republic registered in the public Register
of Companies.
7
Aside from the applicable legislation, the Company is governed by the Articles of
Association.
The Articles of Association were deposited in the Collection of Deeds in the public Register
of Companies.
3. COMPANY PROFILE
This annual report includes the results of the Company which comprises:
Severomoravské vodovody a kanalizace Ostrava a.s. (hereinafter the “Company”)
Severomoravské vodovody a kanalizace Ostrawa a.s., oddzial w Polsce
(organisational branch in Poland)
The Company is the largest water management company in the Moravian-Silesian Region
and a long-standing leader in the Czech water management market. The principal business
activity of the Company relates to the production and supply of drinking water and
wastewater drainage and treatment.
The Company is one of the top water management companies in the Czech Republic and
retains a strong position among major business entities in the Moravian-Silesian Region.
The Company applies an integrated management system attested by five ISO certificates.
The Company predominantly operates in the districts of Frýdek-Místek, Karviná, Nový Jičín
and Opava. In addition, the Company has drinking water supply contracts concluded with
Ostrava, Hlučín, Studénka and a number of other smaller municipalities. Furthermore, the
Company supplies drinking water to the border area with Poland (Jastrzębie-Zdrój) and a
part of the Olomouc region (including Hranice na Moravě, Lipník nad Bečvou and Přerov).
On a contractual basis, in 2020, the Company operated the sewage system and wastewater
treatment plant e.g. in Vratimov, Dolní Lutyně, Mosty u Jablunkova, Řepiště and Velké
Losiny in the Olomouc Region, but also in other towns in the Moravian-Silesian Region.
Using almost 138 thousand water connections with a total length of 770 km, the Company
supplies drinking water to 721,469 citizens. It also operates 75 wastewater treatment plants
(73 mechanical-biological, 2 mechanical) with a total capacity of 262,140 m
3
per day
(sufficient for 954,376 people).
Several changes have been made to the Company's ownership structure since the
establishment of the Company in 1992 when municipalities became the majority
shareholders. Since the effective date 20 September 2019, the sole shareholder of the
Company has been AQUALIA CZECH S.L., whose partners included by the time of the
preparation of this report FCC Aqualia, S.A with a 99.9999% ownership interest, and Aqualia
Intech, S. A with a 0.0001% ownership interest.
The Company does not hold any ownership interest in subsidiaries or any other companies.
The Company is a member of the Group controlled by FOMENTO DE CONSTRUCCIONES
Y CONTRATAS, S.A., with its registered office in Spain.
8
Key Events in 2020
The sole shareholder, AQUALIA CZECH, S.L., acting in the capacity of the General
Meeting held on 7 May 2020, approved the 2019 annual report, the 2019 ordinary
financial statements, as well as the distribution of profit generated in the 2019 reporting
period.
The sole shareholder decided on the distribution of profit generated in the 2019 reporting
period in the following manner: out of the profit after tax in the amount of CZK
379,496,092.96, a part of the profit amounting to CZK 293,664,948.88 will be paid to the
sole shareholder as a profit share and the remaining CZK 85,831,144.08 can be used
only for activities in accordance with the fulfilment of the recovery funding plan.
The sole shareholder, AQUALIA CZECH, S.L., acting in the capacity of the General
Meeting, decided to amend and update the Articles of Association by way of a notarial
deed and to re-appoint two members of the Board of Directors whose term of office
expired. At the same time, their Executive Service Agreements were approved. The
appointed members were Guillermo Moya García-Renedo and Fernando Flores Gavala.
In accordance with IAS/IFRS as adopted by the EU, the Company’s financial
performance in 2020 resulted in a pre-tax profit of CZK 501,352 thousand. The projected
total expenses for 2020 were based on the Company’s needs, pricing implications and
financial obligations.
In 2020, the Company’s investment policy was based on its business development
needs, in line with the approved long-term plan. The Company met investment needs
amounting to almost CZK 693 million. The Company fulfilled its aim to invest in water
management infrastructures in the municipalities of the region which is subject to the
Company’s supplies.
Pursuant to Section 19a (1) of Act No. 563/1991 Coll., the Company, in its capacity as
a business entity issuing investment securities, i.e. bonds listed on a regulated securities
market in the EU Member States, maintains its accounts and prepares its financial
statements in accordance with International Financial Reporting Standards as adopted
by the EU (see Regulation (EC) No. 1606/2002 of the European Parliament and of the
Council of 19 July 2002 on the application of International Accounting Standards).
In November 2020, the Company successfully defended three certifications
(occupational health and safety management system, quality management system,
environmental management system) in the recertification audit. In the case of
Occupational Health and Safety, the certification was performed under the new ČSN
ISO 45001:2018 standard. In October, the Company saw the successful completion of
an external surveillance audit focusing on the energy management system. In
November, the Company’s fulfilment of the ČSN ISO 14064-1 standard (quantification
and reporting of greenhouse gases – carbon footprint) for 2019 was successfully
verified.
Throughout virtually the entire year the Company had to react accordingly to the global
pandemic of the novel coronavirus across all areas of its operations. The Company was
successful in this and throughout the year, the exceptionally difficult situation did not
negatively affect steady supplies of drinking water in the appropriate quality and quantity
to all customers; wastewater removal and treatment were also problem-free.
9
4. ORGANISATIONAL STRUCTURE
Decision-making Process and Composition of the Bodies of the Company
BOARD OF DIRECTORS
The decision-making process and the powers of the Board of Directors as the statutory body
is specified in the Company’s Articles of Association, Section B – Board of Directors, Sub-
sections 16 to 22.
COMPOSITION OF THE BOARD OF DIRECTORS AS OF 31 DECEMBER 2020
Sub-section 17 of the Company’s Articles of Association stipulates that the Board of
Directors has 15 members.
The Company’s Board of Directors as of 31 December 2020
Félix Parra Mediavilla - Chairman of the Board
Luis Francisco De Lope Alonso - First Vice-Chairman
Guillermo Moya García-Renedo - Second Vice-Chairman
Miroslav Kyncl - Third Vice-Chairman
Isidoro Antonio Marbán Fernández - member
Fernando Flores Gavala - member
Luis Carrero Bosch - member
José María Álvarez Oblanca - member
Francisco José Araque Padilla - member
Mark Muller Aguirre - member
10
Václav Holeček - member
Věra Palková - member
Ladislav Šincl - member
Miroslav Šrámek - member
Zdeněk Trejbal - member
Based on the resolution of the sole shareholder, Guillermo Moya García-Renedo and
Fernando Flores Gavala were re-appointed members of the Board of Directors on 7 May
2020. Based on the decision of the Board of Directors outside meetings, Guillermo Moya
García-Renedo was appointed the 2
nd
Vice-Chairman of the Board of Directors on 8 June
2020. This change is recorded in the Register of Companies.
Details of the Board of Directors
All members of the Board of Directors confirmed in a statutory declaration before the election
that they were qualified to be members of the Company’s statutory body and that there were
no obstacles for the performance of the office in line with applicable regulations. During the
discharge of the functions, none of the Board members announced that they had lost the
statutory competence to serve as members of the body.
Information pursuant to Section 118 (4) (f) of Act 256/2004 Coll.
Description of pecuniary income
Félix Parra Mediavilla
No income, based on remuneration waiver
Miroslav Kyncl
Compensation arising from the Board of Directors membership under
a contract approved by the Company General Meeting for the
performance of statutory body obligations
Fernando Flores Gavala
No income, based on remuneration waiver
Luis Francisco de Lope Alonso
No income, based on remuneration waiver
Isidoro Antonio Marbán Fernández
No income, based on remuneration waiver
Guillermo Moya García-Renedo
No income, based on remuneration waiver
Luis Carrero Bosch
No income, based on remuneration waiver
José María Álvarez Oblanca
No income, based on remuneration waiver
Věra Palková
Compensation arising from the Board of Directors membership under
a contract approved by the Company General Meeting for
performance of statutory body obligations
Zdeněk Trejbal
Compensation arising from the Board of Directors membership under
a contract approved by the Company General Meeting for
performance of statutory body obligations
Václav Holeček
Compensation arising from the Board of Directors membership under
a contract approved by the Company General Meeting for
performance of statutory body obligations
Miroslav Šrámek
Compensation arising from the Board of Directors membership under
a contract approved by the Company General Meeting for
performance of statutory body obligations
Ladislav Šincl
Compensation arising from the Board of Directors membership under
a contract approved by the Company General Meeting for
performance of statutory body obligations
Francisco José Araque Padilla
No income, based on remuneration waiver
Mark Muller Aguirre
No income, based on remuneration waiver
11
Principles of remuneration
The General Meeting approves remuneration to the Board of Directors members for the
duration of their four-year term pursuant to the Agreement on the Performance of Office.
The remuneration is a fixed monthly amount, regardless of the member’s specific position
within the Board of Directors, without any variable component. The Board of Directors
members receive no other form of compensation. The Company made no agreement with
any member on the provision of any benefits upon the termination
of membership in the Board of Directors. The entire amount of compensation to the
members representing the sole shareholder is provided by the controlling party.
In 2020, pecuniary income of the Company Board of Directors members totalled CZK 1,188
thousand (same as in the previous period).
No in-kind compensation was provided. The above-referred Board members receive no
remuneration for the performance of office in line with their remuneration waiver in writing.
SUPERVISORY BOARD
The decision-making process and the powers of the Supervisory Board as a controlling
body is specified in the Company’s Articles of Association, Section C – Supervisory Board,
Sub-sections 24 to 31.
COMPOSITION OF THE SUPERVISORY BOARD AS OF 31 DECEMBER 2020
Pursuant to the Company’s Articles of Association, the Supervisory Board has 12 members,
eight of whom are elected by the General Meeting and four by the Company’s employees.
Supervisory Board as of 31 December 2020
Lukáš Ženatý - Chairman
Pedro Miarro Perete - Vice-Chairman
Raúl Martí Segura - member
Lenka Kolářová - member elected by the Company’s employees
Zbyněk Skyba - member elected by the Company’s employees
Markéta Rosmarinová - member elected by the Company’s employees
Roman Gúber - member elected by the Company’s employees
Jan Malík - member
René Chrobok - member
Tomáš Navrátil - member
Vladimír Slivka - member
Antonio Parisi - member
In 2020, there were no changes in the composition of the Supervisory Board.
Details of the Supervisory Board
All members of the Supervisory Board confirmed in a statutory declaration before the
election that they were qualified to be members of the Company’s body and that there were
no obstacles for the performance of the office in line with effective regulations. During 2020,
12
none of the Supervisory Board members announced that they had lost the statutory
competence to serve as members of the body.
13
Information pursuant to Section 118 (4) (f) of Act 256/2004 Coll.
Description of pecuniary income
Description of in-
kind compensation
Lukáš Ženatý
Compensation arising from the Supervisory Board membership
under a contract approved by the Company’s General Meeting
for the performance of supervisory body obligations.
Jan Malík
Compensation arising from the Supervisory Board membership
under a contract approved by the Company’s General Meeting
for the performance of supervisory body obligations.
Lenka Kolářová
Compensation arising from the Supervisory Board membership
under a contract approved by the Company’s General Meeting
for the performance of supervisory body obligations.
The reported income includes also income earned
under the Agreement on Company Employee’s Wage.
Compensation under the Collective Agreement
Supplementary
pension insurance
under the Collective
Agreement
Roman Grúber
Compensation arising from the Supervisory Board membership
under a contract approved by the Company’s General Meeting
for the performance of supervisory body obligations.
The reported income includes also income earned under the
Agreement on Company Employee’s Wage.
Compensation under the Collective Agreement
Supplementary
pension insurance
under the Collective
Agreement
Zbyněk Skyba
Compensation arising from the Supervisory Board membership
under a contract approved by the Company’s General Meeting
for the performance of supervisory body obligations.
The reported income includes also income earned under the
Agreement on Company Employee’s Wage.
Compensation under the Collective Agreement
Supplementary
pension insurance
under the Collective
Agreement
Pedro Miñarro
Perete
Compensation arising from the Supervisory Board membership
under a contract approved by the Company’s General Meeting
for the performance of supervisory body obligations.
Compensation under the Collective Agreement
Raúl Martí
Segura
Compensation arising from the Supervisory Board membership
under a contract approved by the Company’s General Meeting
for the performance of supervisory body obligations.
René Chrobok
Compensation arising from the Supervisory Board membership
under a contract approved by the Company’s General Meeting
for the performance of supervisory body obligations.
Vladimír Slivka
Compensation arising from the Supervisory Board membership
under a contract approved by the Company’s General Meeting
for the performance of supervisory body obligations.
Markéta
Rosmarinová
Compensation arising from the Supervisory Board membership
under a contract approved by the Company’s General Meeting
for the performance of supervisory body obligations.
The reported income includes also income earned under the
Agreement on Company Employee’s Wage.
Compensation under the Collective Agreement
Supplementary
pension insurance
Antonio Parisi
Compensation arising from the Supervisory Board membership
under a contract approved by the Company’s General Meeting
for the performance of supervisory body obligations.
Tomáš Navrátil
Until 20 September 2019, no compensation pursuant to Section 5
(2) of Act No. 159/2006 Coll., on Conflict of Interest, as amended,
since 21 September 2019, compensation arising from the
Supervisory Board membership under a contract approved by the
Company’s General Meeting for the performance of supervisory
body obligations
14
Principles of remuneration
The General Meeting approves remuneration to members for the duration of their four-year
term. The remuneration is a fixed monthly amount, regardless of the member’s position
within the Supervisory Board, without any variable component. The Supervisory Board
members receive no other form of compensation. The Company made no agreement with
any member on the provision of any benefits upon the termination of membership in the
Supervisory Board.
In 2020, pecuniary income of the Company’s Supervisory Board members who are not
employed at the Company totalled CZK 924 thousand (CZK 792 thousand in 2019).
Pecuniary income of the Company’s Supervisory Board members – Company employees
in 2020 were as follows:
Employment income (Company employees) – CZK 5,057 thousand (CZK 4,376
thousand in 2019); and
Income from holding the position of a member of the Supervisory Board – CZK 660
thousand (CZK 660 thousand in 2019).
Total in-kind and other compensation in connection with employment income in 2020
amounted to CZK 221 thousand (CZK 455 thousand in 2019).
Audit Committee
The Audit Committee was established by a change in the Articles of Association as another
body of the Company based on a decision of the General Meeting held on 25 May 2017
subsequent to Section 44 (12) of Act No. 93/2009 Coll., as amended.
The status, authority and decision making of the Audit Committee is specified in the
Company’s Articles of Association, Section D, Sub-sections 32 to 35.
COMPOSITION OF THE AUDIT COMMITTEE AS OF 31 DECEMBER 2020
Pursuant to Article 33 of the Articles of Association, the Audit Committee has three
members:
Petr Šobotník, Chairman of the Committee
Otakar Hora, Vice-Chairman of the Committee
Renáta Hótová, Member of the Committee
Information on the members of the Audit Committee is available at the Company’s website
www.smvak.cz under ‘Bodies of the Company’.
Financial income of the members of the Audit Committee amounted to CZK 396 thousand
in 2020 (CZK 396 thousand in 2019).
15
Information on the persons responsible for the Annual Report and Financial
Statements audit
Name and surname
Position
Employer
Anatol Pšenička
Managing Director
Severomoravské vodovody a kanalizace Ostrava a.s., 28. října 1235/169,
Mariánské Hory, 709 00 Ostrava
Halina Studničková
Finance Director
Severomoravské vodovody a kanalizace Ostrava a.s., 28. října 1235/169,
Mariánské Hory, 709 00 Ostrava
Martin Veselý
Technical Director
Severomoravské vodovody a kanalizace Ostrava a.s., 28. října 1235/169,
Mariánské Hory, 709 00 Ostrava
Milan Koníř
Director of Water Supply Networks
Severomoravské vodovody a kanalizace Ostrava a.s., 28. října 1235/169,
Mariánské Hory, 709 00 Ostrava
Jan Tlolka
Director of Sewage Systems
Severomoravské vodovody a kanalizace Ostrava a.s., 28. října 1235/169,
Mariánské Hory, 709 00 Ostrava
Jiří Komínek
Director of Ostrava Area Water Supply Networks
Severomoravské vodovody a kanalizace Ostrava a.s., 28. října 1235/169,
Mariánské Hory, 709 00 Ostrava
Petr Šváb
Administration Director
Severomoravské vodovody a kanalizace Ostrava a.s., 28. října 1235/169,
Mariánské Hory, 709 00 Ostrava
The Company’s management
Information pursuant to 118 (4) (f) and (h) of Act 256/2004 Coll.
Description of responsibilities
Description of
pecuniary income
Description of in-kind
compensation
Anatol Pšenička,
Managing
Director
Ensures execution of the
Company bodies’ resolutions;
Acts on the Company’s behalf
within the scope of written
authorisation by the Board of
Directors;
Acts on the Company’s behalf
within the scope of
management of the Company’s
operations;
Is in charge of the Company’s
emergency management;
Represents the Company’s
management for the integrated
management system,
Organises the Company’s
relations with the public; and
Is responsible for the provision
of legal services in the
Company.
Salary paid under the
Agreement on the
Appointment of the
Managing Director
(basic salary, bonuses,
compensation under
the Collective
Agreement)
Supplementary
pension, Company car
for personal use
16
Description of responsibilities
Description of
pecuniary income
Description of in-kind
compensation
Halina
Studničková,
Chief Financial
Officer
Is responsible for the
effectiveness of economic and
financial transactions, drafting
of the Company’s economic
and financial plan and ensuring
that its targets are met;
Ensures ongoing financial
management;
Is in charge of Company
business operations and
devising marketing strategy;
Is responsible for pricing policy;
and
Acts on the Company’s behalf
within the scope of written
authorisation by the Board of
Directors.
Salary paid under the
Wage Contract (basic
salary, bonuses,
compensation under
the Collective
Agreement)
Supplementary
pension, Company car
for personal use
Martin Veselý,
Chief
Technology
Officer
Ensures drafting technology
strategy;
Is responsible for the
preparation and effectiveness
of the Company’s investment
projects;
Ensures meeting corporate
energy and transport-related
targets;
Is in charge of occupational
health and safety and fire
protection policies; and
Is responsible for the central
procurement system.
Salary paid under the
Wage Contract (basic
salary, bonuses,
compensation under
the Collective
Agreement)
Supplementary
pension, Company car
for personal use
Petr Šváb,
Organisational
and
Administrative
Director
Is responsible for meeting the
Company’s reporting
obligations, as securities issuer,
ensuing from generally binding
regulations and internal rules;
Ensures archive activities
across the Company;
Is in charge of human
resources, payroll policy and
payroll agenda; and
Is responsible for IT operation
and development.
Salary paid under the
Wage Contract (basic
salary, bonuses,
compensation under
the Collective
Agreement)
Supplementary
pension, Company car
for personal use
Milan Koníř,
Director of
Waterworks
Is responsible for all water
supply networks operations;
Is responsible for uninterrupted
drinking water supply;
Is responsible for the quality of
supplied water and the quality
control of supplied water;
Ensures collaboration with
cities and municipalities in
water supply operations;
Salary paid under the
Wage Contract (basic
salary, bonuses,
compensation under
the Collective
Agreement)
Supplementary
pension, Company car
for personal use
17
Description of responsibilities
Description of
pecuniary income
Description of in-kind
compensation
Is in charge of metrology within
the scope of water supply; and
Acts on the Company’s behalf
within the scope of written
authorisation by the Board of
Directors.
Jan Tlolka,
Director of
Sewage
Systems
Is responsible for all sewage
networks operations;
Is responsible for wastewater
drainage and treatment;
Is responsible for the quality of
discharged wastewater and
quality control of discharged
wastewater;
Is in charge of waste
management across the
Company;
Is in charge of metrology within
the scope of wastewater
drainage and treatment; and
Acts on the Company’s behalf
within the scope of written
authorisation by the Board of
Directors.
Salary paid under the
Wage Contract (basic
salary, bonuses,
compensation under
the Collective
Agreement)
Supplementary
pension, Company car
for personal use
Jiří Komínek,
Director of
Ostrava Area
Water Supply
System (OOV)
Is in charge of OOV
management and all
operations;
Is responsible for drinking water
production in water treatment
plants and water sources
across the Company;
Is responsible for the quality of
water supplied from water
treatment plants, water sources
and water supply networks and
for quality control of supplied
water;
Is responsible for uninterrupted
drinking water supply within the
Ostrava Area Water Supply
Networks; and
Is responsible for metrology
within the scope of water
treatment operations.
Salary paid under the
Wage Contract (basic
salary, bonuses,
compensation under
the Collective
Agreement)
Supplementary
pension, Company car
for personal use
Principles of remuneration
The Company’s managers with managing powers (hereinafter the “managers”) are paid a
fixed basic salary and a variable component (bonuses) on the basis of their Wage Contract.
18
For the Managing Director, the amount of the monthly salary is determined by the
Company’s Board of Directors, and for other top managers by the Managing Director, based
on an authorisation issued by the Board of Directors.
The managers’ bonuses are variable, depending on whether the managers meet pre-
defined criteria. Entitlement for bonuses and their payment depends on meeting the criteria
set for individual managers.
The key criteria for bonus payments are:
The total volume of the Company’s operational production;
Operating profit before taxes, without extraordinary gains;
Available cash-flow;
Compliance with the Company’s investment plan; and
Acquisition activities of the Company.
The amount of approved bonuses is based on evaluation of meeting the required criteria as
follows:
No bonus is paid when less than 90 percent of the criteria are met;
The bonus is reduced when the criteria are met at 90-100 percent, based on the
evaluation of meeting each specific criterion.
The Board of Directors assesses meeting the pre-defined criteria by the Managing Director,
and the Managing Directors assesses meeting the criteria by other managers, based on an
authorisation of the Board of Directors.
No Remuneration Committee has been set up by the Company. Wages are monitored and
evaluated for each calendar year.
Bonus payments (money transfers) are subject to approval by the Company’s Economic
Director and Managing Director.
In the event of termination of the manager’s employment, a competition clause has been
signed pursuant to Section 310 of the Labour Code for one year, which guarantees
severance pay of the employee’s 12 average salaries provided the terms of the competition
clause have been met.
In 2020, pecuniary income of managers totalled CZK 15,599 thousand (CZK 14,460
thousand in 2019); total in-kind and other compensation amounted to CZK 820 thousand
(CZK 798 thousand in 2019).
19
Information pursuant to Section 118 (4) (g) of Act No. 256/2004 Coll., on the
Company’s shares or similar types of securities and option or comparable investment
instruments, the value of which pertains to the Company’s shares or similar types of
securities in the ownership of members of the Board of Directors and/or the
Supervisory Board members and other Company managers and executives as of 31
December 2020.
Number of the
Company’s
shares or similar
types of
securities as of
1 January 2020
Number of the
Company’s
shares or similar
types of securities
as of
31 December 2020
Option or comparable
investment
instruments, the value
of which pertains to the
Company’s shares or
similar types of
securities
Board of Directors members in total
0
0
none
Supervisory Board members in total
0
0
none
Company managers and executives
0
0
none
5. DEVELOPMENT OF THE COMPANY’S REGISTERED CAPITAL AND EQUITY
Indicator
Measurement
Unit
2018
2019
2020
ISIN No.
1. Registered capital
CZK thousand
1,296,909
1,296,909
1,296,909
-
Total shares
Piece
3,458,425
3,458,425
3,458,425
-
of which bearer share
Piece
421,385
421,385
421,385
CS0008435251
of which registered shares
Piece
3,037,040
3,037,040
3,037,040
CS0009031166
2. Reserve funds
CZK thousand
0
0
0
3. Retained earnings
CZK thousand
429,782
518,770
635,405
EQUITY
CZK thousand
1,726,691
1,815,679
1,932,314
20
6. SECURITIES
Securities Issued
a) Stock
Issuer: Severomoravské vodovody a kanalizace Ostrava a.s.
Type of security: Shares
Class: Registered share
Total amount: CZK 1,138,890,000
Number of shares: 3,037,040
Nominal value per share: CZK 375
Form: Book-entered; records of holders are maintained by Centrální depozitář cenných
papírů, a.s. (Central Depository of Securities)
ISIN: CS 0009031166
Issuer: Severomoravské vodovody a kanalizace Ostrava a.s.
Type of security: Shares
Class: Bearer share
Total amount: CZK 158,019,375
Number of shares: 421,385
Nominal value per share: CZK 375
Form: Book-entered; records of holders are maintained by Centrální depozitář cenných
papírů, a.s. (Central Depository of Securities)
ISIN: CS 0008435251
In connection with the decision of the General Meeting of 23 July 2019 within the meaning
of Section 375 et seq. of the Act on Business Corporations on the forced transfer of
ownership rights to all participating shares to the majority shareholder, the shares were
removed from trading on the multilateral trading facility operated by RM-SYSTÉM, česká
burza cenných papírů a.s. (Czech Stock Exchange), effective from 20 September 2019,
based on the decision of the director of RM-SYSTÉM No. 8/2019 of 28 August 2019.
Dividend payments:
Payments of dividends in previous years were effected under the rules passed by the
respective General Meeting’s resolution through Československá obchodní banka, a.s.,
Radlická 333/150, 150 57 Prague 5.
Instructions for exercising shareholders’ rights:
Until 20 September 2019, all information pertaining to securities issued by the Company
were published pursuant to its Articles of Association and the applicable legislation in the
section Shareholders and Investors/Published Documents and Notices and Calls.
21
Shareholders holding at least a 5% interest in the Issuer’s registered capital or voting rights
as of 31 December 2020:
AQUALIA CZECH S.L.
100.00%
Madrid, Avda. del Camino de Santiago 40
Kingdom of Spain
The Company’s shares are fully transferable and bear no first option.
b) Bonds issued on 17 July 2015 maturing on 17 July 2022
Issuer: Severomoravské vodovody a kanalizace Ostrava a.s.
Type of security: Bonds
Class: Book-entered bearer bond
Total amount: CZK 5,400,000,000
Number of bonds: 1,800
Nominal value: CZK 3,000,000
Fixed interest yield: 2.625% p.a.
Date of issue: 17 July 2015
ISIN: CZ 0003512824
The foregoing bond issue was approved by a resolution of the Board of Directors dated 21
April 2015.
The Company issued the bonds in the aggregate nominal amount of CZK 5,400,000,000
(in words: five billion four hundred million Czech crowns) with 2.625% annual fixed interest
rate maturing in 2022. The offering circular and the issue conditions were approved by the
Czech National Bank on 14 July 2015 under ref. no. 2015/078294/CNB/570.
The Issuer’s offering circular is available at http://www.smvak.cz in section ‘Shareholders and
Investors/Bonds’.
Effective as of 17 July 2015, the bonds issued were accepted for trading on the Regulated
Market based on a resolution of the Managing Director of Burza cenných papírů Praha, a.s.
(Prague Stock Exchange) dated 13 July 2015 under ref. no. B/102/2015/KB. The bonds
began to be traded on 17 July 2015, when all of 1,800 bonds were sold.
Bond Holders as of 31 December 2020
Number of bonds held by foreign corporate entities
34
Number of bonds held by corporate entities (CZ)
1,657
Number of bonds held by individuals (CZ)
109
Total bonds
1,800
All information pertaining to these securities is available at the Company’s registered office.
The services of a fiscal and payment broker with respect to the payment of interest and
bonds are provided by Komerční banka, a.s., having its registered office at Na Příkopě 33,
114 07 Prague 1, P. O. BOX 839, the Czech Republic.
22
Information on the Trade in Shares or Similar Securities Pertaining to the Company
Conducted in 2020
In 2020, members of the Board of Directors or the Supervisory Board, the Company’s
managers and their close relatives did not trade any shares or similar securities pertaining
to the Company. Due to the decision of the General Meeting on the forced transfer of all
shares to the majority shareholder, the ownership rights to shares of members of the
Supervisory Board were transferred.
Members of the Board of Directors or the Supervisory Board and the Company’s managers
received no loans or borrowings, nor did they receive any liability, collateral or performance.
The Company’s employees do not have an opportunity to hold a share in the Company’s
registered capital.
The Company did not conclude any contracts with the members of the Board of Directors
or the Supervisory Board, the managers or their close relatives.
Costs of Remuneration of the Statutory Auditor for the Relevant Period
In CZK thousand
Auditor
Amount included in
audit costs for 2020
Other services
Other services
– Description
Deloitte Audit s.r.o.
961
Deloitte Advisory s.r.o.
266
Insolvency test
7. RIGHTS ARISING FROM OWNERSHIP OF SECURITIES
Rights Arising from the Ownership of Shares
The shareholders’ rights are governed by Act No. 90/2012 Coll., on Business Corporations,
and by the Company’s Articles of Association.
Rights Arising from the Ownership of Bonds
The bond holders’ rights are governed by generally binding regulations, namely the Act on
Business Corporations; Act No. 190/2004 Coll., on Bonds; the terms and conditions of bond
issue; and the Issuer’s Offering Circular, which is published on the website
www.smvak.cz
under ‘Shareholders and Investors/Bonds’.
23
8. MANDATORY INFORMATION PURSUANT TO THE ACT ON CAPITAL MARKET
UNDERTAKINGS
Corporate Control Instruments
CONTROL PROCEDURES AND AUTHORISATION FOR ACCOUNTING
TRANSACTIONS
Pursuant to the provisions of the Accounting Act, separate methodology guidelines, which
are part of the ISO standardisation, define specific positions and persons responsible for
accounting transactions, persons responsible for their recognition, as well as the payment
terms applied.
Payments arising from all accounting documents and their recognition may be approved and
signed solely by persons responsible for specific accounting transactions and persons
responsible for recognition of the specific accounting transactions.
a) Employees authorised to approve financial transactions reported in accounting
documents are responsible for:
Accuracy, admissibility and efficiency of recognised financial transactions;
Ensuring control as regards compliance of the data reported in accounting
documentation with actual data;
Correctness, accuracy and completeness (including numerical control) of the
financial amounts recognised above;
Adherence to financial limits determined for respective authorised persons;
Observing the premise that the limited value of a financial transaction means the sum
of all values of specific items that are mutually inter-connected in terms of purpose,
contents or personnel.
The authorised employee approves financial transactions by his/her signature which must
be identical with the signature specimen.
b) Employees authorised to approve recognition of financial transactions within the
Company hold the following positions:
- Head of the Accounting Department; and
- General accountant.
The employees authorised to approve the recognition of financial and accounting
transactions are responsible for the following:
Accounting records comply with the chart of accounts, approved recognition procedures
and the valid accounting plan;
Accounting documentation meets all requirements pursuant to Act No. 563/1991 Coll.,
in the case of tax documents also the requirements pursuant to Act No. 235/2004 Coll.
On Value-Added Tax, as amended;
Financial transactions reported in the accounting documents have been duly approved
by the authorised employees;
In terms of recognition approval, each accounting document must include two signatures
of persons authorised to approve recognition of financial transactions.
24
Circulation of all accounting documents is ensured to maintain a steady flow of all
documents (from issuance, approval and payment to recognition) in a rational and
continuous manner and within reasonable deadlines.
SmVaK Ostrava a.s. has appointed and authorised employees responsible for reviewing
accuracy, completeness, admissibility and legitimacy of financial transactions and persons
authorised to approve these transactions.
Their powers are defined in accordance with the amounts/prices determined for specific
(separate) financial transactions. For transactions under CZK 3 million incl. VAT, three
authorised employees jointly approve any such transaction; for transactions between CZK
3 million and CZK 27 million incl. VAT, three authorised employees and three authorised
members of the Company’s body (Board of Directors) jointly approve any such transaction;
and for transactions exceeding CZK 27 million incl. VAT, three authorised employees and
five authorised members of the Company’s body (Board of Directors) jointly approve any
such transaction.
Concluding supply contracts and ordering material and services is performed within the
scope of authorisations granted by the Company’s Board of Directors to senior managers
and authorisations arising from the Company’s internal policies.
INTERNAL AUDIT
Internal audit within the integrated management system involves an ongoing and systematic
review and evaluation of operations of internal organisational units in the areas of quality,
energy management, environment, occupational health and safety and fire protection
management. Records of internal audits are submitted to the Company’s management.
Control activities focus on compliance employment-related regulations and the Labour
Code, binding internal policies and documents. Random workplace inspections, reviews of
internal accounting records, and reviews of activity progress are also conducted.
Inspection reports are presented to the Managing Director. In line with the findings (if any),
measures are taken by authorised employees to eliminate identified deficiencies.
Members of the Audit Committee are informed about the results and findings of the internal
audits performed.
PAYMENT CONTROL
The Company ensures control of all payments executed by authorised employees within the
Economic Information System (EIS) in terms of the legitimacy of specific financial
transactions and the amount of payment.
The employees executing payments print out a list of payment orders from the EIS system,
review and sign it together with respective tax documents (invoices) and submit the payment
orders for review to the authorised employee of the finance department, who checks the
data for reconciliation and verifies it by signing the accuracy of the issued payment orders.
A protocol is prepared on required payments.
Prior to the execution of payments, a Protocol for Approval of the Financial Transaction is
prepared and subsequently submitted for a review and approval to the authorised
employees who permit the execution of the payments by signing the Protocol.
25
After sending the payment orders to the respective bank, the authorised employee signs
a control protocol that is filed with a control copy for a compatible medium, a dispatch label
for non-document exchange of data carriers, a protocol on successful completion of data
transfer, and a list of payment orders.
ELIMINATION OF POTENTIAL RISKS
The detailed business and financial plan for the current year includes identification of
potential risks and their elimination in the given environment. The Company effectively
eliminates all risks.
PAYROLL CONTROL MANAGEMENT
Access to the payroll and personnel files is granted by the system administrator, following a
consultation with the head of the Human Resources and Payroll department, and approval
by the administration director. The payroll system can be accessed by Human Resources
Payroll officers processing the payroll agenda, the head of the Human Resources and
Payroll department and the administration director.
All wage modifications are subject to the approval of the managing director. Payroll outputs
are subject to inspection by the heads of the Human Resources department and the
administrative director and, subsequently, approved by the economic director and the
managing director.
THE SOLE SHAREHOLDER’S CONTROL
The Company’s sole shareholder is AQUALIA CZECH S.L., which holds 100.00% of share
capital and is the entity directly controlling Severomoravské vodovody a kanalizace Ostrava
a.s. FCC Aqualia S. A. holds 99.9999% of the share capital of AQUALIA CZECH S.L., an
interest of 0.0001% is held by Aqualia Intech S.A. All of the aforementioned companies are
part of the Group controlled by FOMENTO DE CONSTRUCCIONES Y CONTRATAS, S.A.,
with its registered office in Balmes 36, Barcelona, Kingdom of Spain.
More detailed information on the controlled and controlling entities is provided herein;
“Overview of the Group’s Controlled and Controlling Entities” is included in the Appendix
thereto entitled the “Report on Related Party Transactions pursuant to Section 82 of the
Business Corporations Act”.
The sole shareholder (the controlling party) reviews, through its representatives – ie the
members of the Board of Directors, the annual business plan and monthly economic results,
sets and reviews business goals and objectives that are assessed on an ongoing basis and
discussed in the event of any discrepancies. In addition, the majority shareholder reviews
and approves meeting the targets of the investment plan.
The Company has drafted in-house rules which set forth clearly defined procedures and
control mechanisms. These are primarily methodological regulations in the ISO
documentation system, which in detail describe procedures of processing common
transactions, including fraud prevention rules. The Company’s internal audit controls
adherence to the relevant rules. The majority shareholder in no way influences or interferes
with the Company’s internal policies.
26
No other measures beyond the scope of the statutory obligations have been adopted.
Company Codes
The Company publicly complies with and performs its activity in line with the Czech
Corporate Governance Code 2018 (the “Code”) based on the OECD Principles. It fully
complies with its principles in order to improve its governance, corporate responsibility and
long-term prosperity, increase its value, competitiveness and sustainability of its activities.
The Company makes sure that its governance is transparent. To this purpose, it publishes
all relevant information regarding its activities and governance in its annual and semi-annual
reports. The main features of the Company’s system of internal controls and risk
management in relation to financial reporting are disclosed in subchapter Corporate Control
Instruments of this annual report.
Responsibilities of the Board of Directors and the Supervisory Board to the sole shareholder
and to third parties are in compliance with Chapter V and VI of the Code, the Articles of
Association and applicable legislation. Members of the Board of Directors and the
Supervisory Board are able to exercise objective independent judgment on corporate affairs
and they have access to accurate, relevant and timely information in order to ensure due
performance of duties. The composition of corporate bodies of the Company is disclosed in
Chapter 4 of this annual report. The composition of elected bodies reflects the requirements
put on the Company with regard to its business activities and its further development.
For the entire time when the Company had more than one shareholder, the governance
system protected and facilitated the exercise of shareholders’ rights in a way that ensured
equal rights for all shareholders, including minority ones, with the possibility to participate in
the management of the Company through the General Meeting. Shareholders’ rights in the
Company were exercised within the scope of Chapter I of the Code. Presently, when the
Company has a sole shareholder, the framework for the exercise of the shareholder’s rights
is defined by both applicable legislation and the Company’s Articles of Association.
The Company is in full compliance with the Code of Conduct of the FCC Group, of which it
forms part, and has implemented the Code into its corporate management system. The full
wording of the Code of Conduct is available on the Company’s Intranet and website.
Compliance Programme
During 2020, a corporate compliance programme was implemented and developed in the
FCC Group. The programme introduces a comprehensive system of measures and
procedures relating to all activities of all entities in the Group. The compliance programme
aims at setting internal operating rules in both the parent company of the FCC Group and
its subsidiaries and affiliates. The aim is to define rules of conduct in relation to third parties
and introduce a corporate culture across all aspects of the operations of individual entities.
When introducing the compliance programme, an analysis of the activities performed in the
Company was conducted in order to identify risks and their consequences for the Company
with regard to the prevention of possible criminal liability of the Company. At the same time,
the applicability of the FCC Group’s anti-corruption system in the Company was tested. No
deficiencies were found in the conducted risk analysis that would pose a risk to the Company
in terms of potential criminal liability.
27
In relation to the implementation of the FCC Group’s compliance programme, the Board of
Directors of the Company approved the following policies: Anti-Corruption Policy, Protocol
on Preventing and Combating Harassment, Human Rights Protection Policy, Gift
Acceptance Policy, Commercial Agents Relationships Policy, Health Protection Policy,
Policy of Participation in Tenders for the Supply of Goods and Services, and Policy of
Business Partner Relations in connection with Compliance with Legal Regulations. The
documents are available on the Company’s intranet and available for consultation in
locations accessible to all Company’s employees.
Decision-Making Process and Scope of Powers of the General Meeting
The status and power of the General Meeting are defined in Section A – General Meeting in
the Company’s Articles of Associations.
Starting from 20 September 2019, when the forced transfer of all shares to the sole
shareholder became effective, the powers of the General Meeting are exercised by one
shareholder.
28
9. ACCESS TO THE ANNUAL REPORT
1. The Company’s Annual Report for 2020 is available both in paper form and on a USB
stick to be distributed free of charge and available from 30 April 2021 at the
Company’s registered office on business days from 9:00 a.m. to 3:00 p.m. In addition,
the Annual Report can be accessed at the registered offices of all parties that are
recipients of the Annual Report pursuant to Act No. 256/2004 Coll., i.e. Česká národní
banka a.s. (Czech National Bank), Burza cenných papírů Praha (Prague Stock
Exchange), and ING Bank N.V., organizační složka.
2. As of 30 April 2021, the Annual Report shall be also posted on www.smvak.cz in the
section Shareholders and Investors/ Published documents in the pdf format.
10. THE CONTROLLED AND CONTROLLING PARTIES
The overview below shows the controlled and controlling parties within the FCC Group as
of 31 December 2020.
1. Controlled party
Severomoravské vodovody a kanalizace Ostrava a.s.
With its registered office at 28. října 1235/169, Mariánské Hory, 709 00 Ostrava
Corporate ID: 45193665
The company is registered in the Register of Companies maintained by the Regional
Court in Ostrava, Section B, File No. 347.
2. Ultimate controlling party of the Group
FOMENTO DE CONSTRUCCIONES Y CONTRATAS, S. A.
With its registered office at Balmes 36, Barcelona
Corporate ID: A-28037224
The Company is registered in the Register of Companies in Barcelona,
Section 21.736, File 1, page B-26.947.
The company is not registered in the Register of Companies in the Czech Republic.
3. Directly controlling party
AQUALIA CZECH S.L.
With its registered office at Avda. del Camino de Santiago 40, Madrid, Spain
Corporate ID: B-85794931
The company is registered in the Register of Companies in Madrid, Deed no. M-
488820.
The company is not registered in the Register of Companies in the Czech Republic.
4. Other parties within the Group with which the Company had contractual
relationships or performed legal acts
4.1. Aqualia infraestructuras inženýring, s.r.o.
With its registered office at Slavníkovců 571/21, Mariánské Hory, 709 00 Ostrava-
Corporate ID: 64608042
29
The company is registered in the Register of Companies maintained by the Regional
Court in Ostrava, Section C, File 14055.
4.2. Vodotech, spol. s r.o.
With its registered office at Jaselská 220/47, Předměstí, 747 07 Opava
Corporate ID: 64086348
The company is registered in the Register of Companies maintained by the Regional
Court in Ostrava, Section C, File 8486.
4.3. Aqualia Intech, S. A.
With its registered office at Avda. del Camino de Santiago 40, Madrid, Spain
Corporate ID: A -28849495
The company is registered in the Register of Companies in Madrid, Deed no. M-
59467.
The company is not registered in the Register of Companies in the Czech Republic.
4.4. Tratamiento industrial de aguas, S. A.
With its registered office at Federico Salmón 13, Madrid, Spain
Corporate ID: A28525723
The company is registered in the Register of Companies in Madrid, Deed no. M –
20467. The organisational branch of the foreign entity was recorded in the Register
of Companies maintained by the Municipal Court in Prague, Section A, File 61073,
corporate ID: 28382161, until 5 September 2020, when the organisational branch
was deleted from the Register of Companies.
4.5. FCC AQUALIA, S. A.
With its registered office at Federico Salmón 13, Madrid, Spain
The Company is registered in the Register of Companies in Madrid, Deed no. M-
58878.
The organisational branch of the foreign entity is recorded in the Register of
Companies maintained by the Municipal Court in Prague, Section A, File 69960,
corporate ID: 27788318.
4.6. FCC Česká republika, s.r.o.
With its registered office at Ďáblická 791/89, Prague 8, postal code 182 00
Corporate ID: 45809712
The Company is registered in the Register of Companies maintained by the Municipal
Court in Prague, Section C, File 12401.
4.7. OBSED a.s.
With its registered office at Nemocniční 998/14, Moravská Ostrava, 702 00 Ostrava
Corporate ID: 27454045
The Company is registered in the Register of Companies maintained by the Regional
Court in Ostrava, Section B, File 3265.
4.8. HIDROTEC, Tecnología del Agua, S.L.U.
With its registered office at Sevilla, c. Kansas City 9, Kingdom of Spain
Corporate ID: B – 91033621
The company is registered in the Register of Companies in Sevilla, sheet SE 395,
section 8, folio 1.
The company is not registered in the Register of Companies in the Czech Republic.
30
The FCC Group consists of companies the list of which is attached to this Annual Report.
The Report on Related Party Transactions specifies all members of the Group with which
the controlled party had contractual relations or with which legal acts were performed in the
reporting period ended 31 December 2020.
The Report on Related Party Transactions between the Controlling Party and the Controlled
Parties and between the Controlled Parties and other Parties Controlled by the Same
Controlling Party for the reporting period ended 31 December 2020, prepared pursuant to
Section 82 of Act No. 90/2012 Coll., on Business Corporations, is an integral part of this
Annual Report.
The Company declares that it conducts its business operations independently of the other
Group companies as its activities are not dependent on any other Group member.
Severomoravské vodovody a kanalizace Ostrava a.s. is the Controlled Party. It is directly
controlled by the Controlling Party, particularly through decisions of the sole shareholder
acting in the capacity of the General Meeting as part of business management through the
representatives of the sole shareholder in the Board of Directors and executive
management.
The Company is not a Controlling Party or a partner in any other FCC Group member firm.
The level of the Company’s compliance with selected chapters of the Code of Corporate
Governance, based on the OECD Principles, is subject to regular analyses; application of
the principles to the Company’s specific conditions is included in the documents related to
the preparation of the annual Financial Statements and the Annual Report for 2020.
The Company is not aware of any risk factors arising from its dominant market position in
the regions of its operation.
11. THE BOARD OF DIRECTORS REPORT ON BUSINESS OPERATIONS OF THE
COMPANY AND THE STATE OF ITS ASSETS
All figures disclosed in this report comply with International Financial Reporting Standards
IAS/IFRS (hereinafter “IFRS”), as adopted by the EU.
Key Financial Results for 2020
Severomoravské vodovody a kanalizace Ostrava a.s. generated profit before taxes
of CZK 501,352 thousand in 2020.
Water deliveries to water supply systems of third-party water management
companies decreased by 8.9% year-on-year, which represents a decrease of 1,796
thousand cubic metres against 2019.
The volume of drinking water delivered to households and businesses in 2020
decreased by 3% year-on-year, which represents a decrease of 965 thousand cubic
metres against 2019.
31
The volume of drained wastewater (including the meteoric water invoiced) recorded
a minor decrease of 1% compared to the volume in 2019.
Supplies of drinking water from central and local sources were uninterrupted
throughout 2020 and so was the drainage and treatment of wastewater.
Total income related to water and sewer rates amounted to CZK 2,571,437 thousand,
which is CZK 67,745 thousand more than in 2019.
The Company’s overall financial performance in 2020 can be described as
favourable, despite the society-wide situation caused by the novel coronavirus. The
total volume of drinking water sold to final consumers amounted to 32,304 thousand
m³, and the volume of drained wastewater for consideration totalled 26,721 thousand
m³. A total of 14,179 thousand m³ of drinking water was delivered to the systems of
domestic water management companies, and 4,282 thousand m³ was delivered to
water supply systems in Poland.
In compliance with applicable legislation and IAS/IFRS as adopted by the EU, the
Company’s asset stock-taking included special procedures to apply the respective
standards (hereinafter “IAS”) to the Company’s specific conditions (refer to the Notes
to the annual financial statements).
Income
The total income amounted to CZK 2,668,193 thousand in 2020, i.e. by CZK 61,718
thousand more than in 2019.
Overview of the development of income in CZK thousand
Indicator
2018
2019
2020
Income related to water and sewer rates
2,409,770
2,503,692
2,571,437
Other operating income
100,454
101,680
96,104
Interest and other financial income
537
1,103
652
Total income
2,510,761
2,606,475
2,668,193
Profit before taxes
362,802
473,934
501,352
Profit after taxes
292,789
379,496
404,521
Information on Key Business Operations
Indicator
2018
2019
2020
Billed water (thousand m
3
)
33,286
33,269
32,304
Supplied water (thousand m
3
)
20,575
20,257
18,461
Wastewater drainage (thousand m
3
)
27,822
26,993
26,721
A total of 4,282 thousand m³ of supplied water was delivered to consumers outside the
territory of the Czech Republic. The volume of water supplied to Ostravské vodárny a
kanalizace a.s. amounted to 9,447 thousand m
3
. A total of 2,077 thousand m
3
of drinking
water was supplied to Vodovody a kanalizace Přerov a.s. A total of 2,655 thousand m
3
of
water was delivered to third-party customers.
32
Expenses
The total recognised expenses including taxes amounted to CZK 2,263,672 thousand in
2020.
Expenses in CZK thousand
Indicator
2018
2019
2020
Material and energy consumption
476,701
497,298
494,654
Personnel expenses
479,418
508,058
531,486
Depreciation/amortisation
509,141
509,661
443,652
Other operating expenses
526,496
472,367
515,920
Net provisions and allowances
94
(18,921)
15,993
Interest and other financial expenses
156,109
164,078
165,136
Income tax
70,013
94,438
96,831
Total expenses
2,217,972
2,226,979
2,263,672
Profit/loss
Profit before taxes
2018
2019
2020
CZK 362,802 thousand
CZK 473,934 thousand
CZK 501,352 thousand
Profit after income tax payable and deferred
2018
2019
2020
CZK 292,789 thousand
CZK 379,496 thousand
CZK 404,521 thousand
Financing
As one of the key goals of successful financial management, the Company’s financial
assets, cash security and settlement of liabilities (hereinafter “liquidity”) were managed in
an optimum manner throughout the entire reporting period.
No movable or immovable assets of the Company were pledged as of 31 December 2020.
Loans
To ensure financial stability for the coming years, in 2015, the Company entered into a
framework loan agreement for CZK 120,000 thousand with ING Bank N.V., a joint-stock
company incorporated under the laws of the Netherlands, with its registered office at
Bijlmerplein 888, 1102 MG under no. 33031431, represented in the Czech Republic through
ING Bank N.V., branch Prague, with its registered office at Českomoravská 2420/15, Libeň,
19000 Praha 9, the Czech Republic, corporate ID: 492 79 866. The loan is secured by a
promissory note (“blank bill”). In the year ended 31 December 2020, this loan was used
solely for the issuance of bank guarantees related to the operation of licence agreements
and participation in tenders.
33
Within the scope of licensing tenders for operating the water supply infrastructure
by selected cities and municipalities, the following bank guarantees were provided
as security:
Date of issue
Issued to the
benefit of
Purpose of issue
Valid
from - to
Bank
guarantee
amount
3 Sep 2020
Associated
municipalities
of the Nový
Jičín region
Operation of water supply infrastructure –
sewage systems of the Associated
municipalities of the Nový Jičín region
7 Sep 2020 –
31 Dec 2022
CZK
675,000
3 Sep 2020
Town of
Štramberk
Operation of water supply infrastructure –
sewage system of the town of Štramberk
7 Sep 2020 –
31 Dec 2021
CZK
50,000
3 Sep 2020
Horní Suchá
municipality
Selection of an operator for water supply
assets of the Horní Suchá municipality
7 Sep 2020 –
31 Dec 2021
CZK
150,000
3 Sep 2020
Town of
Orlová
Operation of the infrastructure of the town
of Orlová
7 Sep 2020 –
31 Dec 2022
CZK
100,000
3 Sep 2020
Albrechtice
municipality
Operation of water supply assets of the
Albrechtice municipality
21 Dec 2020 –
20 Dec 2024
CZK
36,000
21 Dec 2020
Velké Losiny
municipality
Operation of wastewater drainage and a
public water treatment plant in Velké
Losiny and the Maršíkov and Bukovice
districts
21 Dec 2020 –
20 Dec 2025
CZK
850,000
17 Aug 2016
Dolní Lutyně
municipality
Due fulfilment of the operator’s obligations
arising from a contract
1 Sep 2016 –
31 Dec 2020
CZK
350,000
19 Dec 2018
Statutory city
of Opava
Due fulfilment of the operator’s obligations
arising from a contract
1 Jan 2019 –
31 Dec 2023
CZK
400,000
19 Dec 2018
Neplachovice
municipality
Due fulfilment of the operator’s obligations
arising from a contract
1 Jan 2019 –
31 Dec 2023
CZK
150,000
9 Jan 2020
Town of
Vratimov
Due fulfilment of the operator’s obligations
arising from a contract
9 Jan 2020 –
31 Dec 2024
CZK
260,000
9 Jan 2020
Řepiště
municipality
Due fulfilment of the operator’s obligations
arising from a contract
9 Jan 2020 –
31 Dec 2024
CZK
114,000
25 Aug 2020
Vodárenská
společnost
Táborsko
s.r.o.
Selection of an operator of the water and
sewerage system for Vodárenská
společnost Táborsko s.r.o.
2 Sep 2020 –
30 Jun 2021
CZK
2,000,000
21 Dec 2020
Horní Suchá
municipality
Operation of water supply assets of the Horní
Suchá municipality
1 Jan 2021 – 20
Dec 2025
CZK
230,000
21 Dec 2020
Dolní Lutyně
municipality
Due fulfilment of the operator’s obligations arising
from a contract
1 Jan 2021 – 20
Dec 2025
CZK
130,000
21 Dec 2020
Town of
Štramberk
Due fulfilment of the operator’s obligations arising
from a contract
1 Jan 2021 – 20
Dec 2025
CZK
106,500
34
35
Liabilities as of 31 December 2020 in CZK thousand
Text
2018
2019
2020
Long-term liabilities and deferred income, of which
5,957,147
6,210,194
6,293,747
Banks loans and bonds payable
5,357,372
5,369,282
5,381,539
Deferred tax liability
543,197
548,116
567,222
Finance lease liabilities
38,254
275,785
315,674
Provisions
18,324
17,011
29,312
Current liabilities and deferred income, of which
698,747
722,340
728,016
Bank loans and bonds payable
64,575
64,575
64,575
Trade payables and other liabilities
592,743
604,545
628,792
Finance lease liabilities
12,621
21,173
28,882
Tax liability to the state
9,980
25,614
1,178
Provisions
18,828
6,433
4,589
In 2020, the Company settled all of its liabilities in a due and timely manner.
Organisational Matters and Human Resources
Labour relations in the Company were governed by the Labour Code and the Collective
Agreement signed for 2020. The Company has not set up any Remuneration Committee.
In its day-to-day activities, the Company strictly adheres to the principle of equal
opportunities (diversity policy) in hiring, employing and evaluating employees and
maintaining the principle of fair remuneration. The Company actively supports the education
and training of employees on all management levels.
Number of employees
2018
2019
2020
Total headcount, adjusted, of which
863
855
855
Water supply system employees
402
403
404
Sewage system employees
309
298
297
Other employees
152
154
154
Profit/loss, Dividend per Share
2018
2019
2020
Profit/loss per share in CZK
84.66
109.73
116.97
Dividend per share in CZK
84.00
84.91
To be decided by the sole shareholder
The dividend policy is subject to decisions of the sole shareholder in relation to the
distribution of profits generated in the respective year.
Anti-corruption and Anti-bribery Measures
Measures against corruption and bribery are defined in the Company’s internal documents
– mainly in the Working Rules of SmVaK Ostrava. Each employee must acquaint
themselves with the contents of the Working Rules upon employment commencement and
confirm their understanding by appending their signature. This issue is also addressed by
the Code of Ethics of the FCC Group of which employees are informed and which is
available on the Company’s intranet and on the website
www.smvak.cz in the section About
us. The Board of Directors approved the principles of the Anti-Corruption Policy valid in the
FCC Group.
36
The Board of Directors decided to apply the Code of Ethics of the FCC Group in SmVaK
Ostrava and to issue a public announcement on
www.smvak.cz about the Company’s
pledge to observe the rules specified in the Code of Ethics.
Respect for human rights
The Company fully respects the human rights of all entities which it has encountered as part
of its business and other activities. In terms of its business activity, the Company is aware
that situations with possible impacts on human rights may emerge. Therefore, the Company
uses efficient mechanisms providing fair solutions to these situations. This principally
involves the process of handling objections, complaints and protection of rights in terms of
the General Data Protection Regulation (GDPR). Essential principles are set up within these
processes; specifically: transparency, legitimacy and fair solutions. In order to address
potential complaints concerning tap water supplies and the draining of wastewater through
the sewage system, the Company has published its Complaints Procedure on its website
www.smvak.cz; in terms of personal data protection, the Company has also published the
Privacy Policy on its website including the form for exercising the rights of data subjects.
The Company has adopted the Human Rights Protection Policy applied in the FCC Group.
Respect for human rights is subject to internal governance documentation and employee
training. The Company pays attention to human rights compliance by means of an internal
control system and the Code of Ethics of the FCC Group.
Court, Administrative and Arbitration Proceedings
Legal disputes where the Company is the defendant
I.
On 22 August 2016, the former minority shareholder Miroslav Frank filed a legal action for
the invalidity of the resolution of the General Meeting held on 26 May 2016 challenging the
accuracy of the ordinary financial statements for the year ended 31 December 2015,
including the follow-up resolution of the General Meeting on distributing the 2015 profit and
retained earnings brought forward.
The Regional Court in Ostrava, following its resolution of 16 June 2017, dismissed the action
in full and decided that the resolution of the General Meeting was valid. The plaintiff filed an
appeal against this resolution with the High Court in Olomouc. The High Court in Olomouc,
based on its resolution of 14 August 2018, upheld the resolution of the Regional Court in
Ostrava.
On 31 December 2018, Miroslav Frank filed an appeal against these resolutions with the
Supreme Court of the Czech Republic. The Court heard this appeal and terminated the
proceedings by a resolution of 30 June 2020. The appellate proceedings were therefore
concluded.
II.
On 15 August 2017, the former minority shareholders Miroslav Frank and EBN SEENA s.r.o.
filed a petition to declare invalidity of the resolution of the General Meeting held on 25 May
2017 with the Regional Court in Ostrava, in relation to the reduction of the registered share
capital of the Company and the resolution on distributing the 2016 profit.
37
The Regional Court in Ostrava issued a resolution on 4 December 2017 that the resolution
of the Company’s General Meeting held on 25 May 2017 on distributing the 2016 profit and
reducing registered share capital is null and void.
The Company filed an appeal against the resolution of 12 January 2018 with the High Court
in Olomouc. On the basis of the appeal discussed, the High Court in Olomouc, through its
resolution of 16 October 2018, annulled the contested resolution of the Regional Court in
Ostrava by dismissing the petition in relation to EBN SEENA s.r.o. in full, and in relation to
the petition of Miroslav Frank by dismissing the petition to declare invalidity of the resolution
of the General Meeting, which made a decision on the distribution of profit for the reporting
period of 2016, and cancelling the resolution of the Regional Court in Ostrava on the
reduction of the Company’s share capital. The matter was returned to this Court for further
proceedings.
On 15 March 2019, both minority shareholders filed an appeal with the Supreme Court of
the Czech Republic against the resolution of the High Court in Olomouc in this matter. The
Company made a statement on the contents of the appeal and informed the Supreme Court
of the Czech Republic that the plaintiffs are no longer shareholders of the Company due to
squeeze-out of minority shareholders and therefore lost active legal standing. The appellate
proceedings have not been concluded yet.
III.
On 22 October 2019, the municipality of Čeladná filed a petition for declaring invalidity of
the resolution of the General Meeting held on 23 July 2019, which made a decision pursuant
to Section 375 et seq. of the Business Corporations Act on the forced transfer of the
ownership right to all participation securities to the majority shareholder. According to the
plaintiff, the reason for the invalidity of the resolution of the General Meeting is the fact that
the Czech National Bank did not grant prior approval of this transfer.
Another reason for the invalidity of the resolution of the General Meeting according to the
plaintiff is the fact that the forced transfer of the participation securities will lead to restrictions
of the instruments of the plaintiff and other municipalities for the fulfilment of their public law
obligations pursuant to Section 2 (2) and Section 35 (2) of the Act on Municipalities.
Representatives of the Company provided a statement on this petition and informed the
Court about their dissenting opinion. On 2 June 2020, i.e. a day before the scheduled
hearing, the plaintiff withdrew its petition and the Court terminated the proceedings, deciding
that the plaintiff is obliged to reimburse SmVaK Ostrava for the costs of the proceedings.
The plaintiff did not agree with the part of the judgment concerning the reimbursement of
costs and appealed to the High Court in Olomouc. The High Court in Olomouc upheld the
judgment of the Regional Court in Ostrava. The municipality of Čeladná already reimbursed
the costs of the first-instance proceedings.
38
Legal disputes where the Company is the plaintiff
I. Collection of trade receivables
Overall summary of active legal disputes as of 31 December 2020
Number of cases
Amount in CZK
Utilised in bankruptcy and insolvency proceedings:
159
10,731,600.45
Actions filed:
174
2,549,531.88
of which distraint
141
2,006,738.99
Utilised in inheritance proceedings:
11
90,964.10
Utilised in liquidation proceedings:
1
4,473.00
Active cases – before action:
98
366,664.62
Total cases pending:
432
13,652,269.95
II.
Based on an administrative action filed by the Company against the resolution of the State
Energy Inspection no. 902004517 of 15 February 2017, ref. no. SEI-1083/2017/90.221-1,
whereby the Company received a fine, the matter was heard by the Regional Court in
Ostrava under ref. no. 22 A 78/2017. On 24 June 2019, the Regional Court in Ostrava
cancelled the challenged resolution and returned the matter for a new hearing to the Energy
Regulatory Office.
On 21 November 2019, the Company received a notification from the Energy Regulatory
Office about the continuation of the administrative proceedings regarding the fine for the
regulatory offence after the cancellation of the resolution of the State Energy Inspection,
Central Inspectorate, no. 902004517, of 15 February 2017, ref. no. SEI-1083/2017/90.221-
1, and resolution of the State Energy Inspection, Regional Inspectorate for the Moravian-
Silesian Region, no. 802026116, of 4 November 2016, by the Regional Court in Ostrava.
The Energy Regulatory Office repeatedly discussed the case and by resolution ref no.
11545-8/2019-ERU of 14 February 2020 terminated the proceedings against SmVaK
Ostrava on the grounds that with respect to the amendment to Act No. 165/2012, the
punishability of the second-discussed offence expired as well (the resolution was delivered
on 18 February 2020). The proceedings were therefore concluded.
III.
A court case is still ongoing with respect to an administrative action filed by the Company
against the resolution of the State Energy Inspection no. 904047515 of 10 December 2015,
ref. no. 0813029a14/1576/15/90.220/Kr held by the Municipal Court in Prague under ref. no.
3 Af 16/2016; based on the challenged resolution, the Company received a fine for incorrect
utilisation and drawing of a higher amount of the green bonus in electricity generation by
combustion of sewerage gas from wastewater treatment plants.
On 22 September 2020, the Municipal Court in Prague ruled against SmVaK Ostrava and
upheld the resolution of the State Energy Inspection, Regional Inspectorate, by which a
penalty for committing an administrative offence was imposed on SmVaK Ostrava under
Section 16 (1) (c) of Act No. 526/1990 Coll., on Prices, as amended (the “Prices Act”), which
the Company, as an electricity producer by combustion of sewerage gas from wastewater
treatment plants, allegedly committed by wrongfully drawing a higher amount of green
bonuses, contrary to the material conditions stipulated by the price authority.
39
In accordance with the Code of Administrative Procedure, the Company brought an appeal
in cassation before the Supreme Administrative Court of the Czech Republic against the
resolution of the Municipal Court in Prague.
Distribution of the Company’s Accounting Profit for 2020
in CZK
Accounting profit
404,521,245.37
Proposed distribution of the Company’s profit
Net profit to be determined by the sole shareholder acting in the capacity of the
General Meeting
404,521,245.37
Business Operations
In 2020, business operations were carried out by five customer centres (in Ostrava, Frýdek-
Místek, Karviná, Nový Jičín and Opava). Due to the epidemiological situation in the Czech
Republic, points of sale were closed from March until the end of 2020. In reaction to the
state of emergency declared by the government and the resulting anti-epidemic measures,
customer centres were closed to the public in specific parts of the year as well. For the most
part (with the exception of receiving payments), their activities were ensured without the
need for personal contact, i.e. electronically, by phone or in writing. In the periods of eased
anti-epidemic measures (summer and beginning of autumn), under strict preventive hygiene
conditions, the customer centres were open, enabling personal contact with customers. An
online reservation system was introduced for scheduling personal appointments at the
customer centres. From 26 October until the end of 2020, due to the state of emergency
and the epidemiological situation, the customer centres of the Company closed again.
In customer centres, with the exception of the above-stated periods of a state of emergency
and the resulting restrictions, customers may conclude contracts and amendments to
contracts for supplying drinking tap water and wastewater drainage services, make changes
relating to water and sewage charges, solve invoicing matters, request payment schedules
in the event of inability to pay financial liabilities arising from drinking water supplies and
wastewater drainage, make complaints, request statements on potential conflicts with the
Company’s engineering networks, request for a permit to establish water and sewage lines,
order construction or renovation of a line, order special services, such as cesspit or septic
tank pumping or delivery of drinking water in a tank.
Priority activities of customer centres include making contracts with customers for water
supply and wastewater drainage services.
In 2017, an application was launched at www.smvak.cz, allowing clients to order almost 50
types of service in nine basic areas without having to visit the Company’s customer centres
or plants in person.
Pursuant to Act No. 274/2001 Coll., Implementing Decree No. 428/2001 Coll., and the
Business Terms and Conditions of Water Supply from the Water Supply Network and
Drainage of Wastewater through the Sewage System, the Company enters into contracts
with customers for the supply of drinking water from public water supply networks and
provision of services pertaining to drainage of wastewater through public sewage networks.
Pursuant to an amendment to Act No. 274/2001 Coll. and the Civil Code, Act No. 89/2012
Coll., contracts for public water supply and wastewater drainage concluded with customers
meet the requirements of the aforementioned amendment. At the same time, the Company
has started the process of making the existing customer contracts compliant with valid
legislation.
40
A total of 134,235 contracts were concluded as of 31 December 2020, which accounts for
99.27% of the total number of customers amounting to 135,226.
Overview of customers and contracts in force in 2020
Number of
customers
Number of contracts
in force
Contracts in force/total number
of customers ratio
Households
122,589
121,832
99.38%
Corporate customers
12,637
12,403
98.15%
Total
135,226
134,235
99.27%
Provision of opinions
The provision of opinions on construction plans of investors (both on the existence of
networks and project documentation) is among the basic supporting services provided by
the Company. Following the continuous increase of requests over the past years, the
number of requests stabilised in 2018. However, in the years 2019 and 2020, the numbers
rose again by 6.5% and 5.5%, respectively. The number of settled requests for an opinion
totalled to 35,626 in 2020.
Number of settled requests and the year-on-year growth/decrease
Year
Processed
Year-on-year
growth/decrease
number
%
2018
31,705
- 0,5
2019
33,771
+ 6,5
2020
35,626
+ 5,5
Similar to other utility organisations, the Company’s web site allows for submitting requests
for an opinion. Almost 95% of all requests lodged in 2020 were filed in this manner, also
due to the fact that it was often impossible to file a request in person in a customer centre.
41
Graph: Channels for submitting requests for an opinion
In 2020, almost 46% of all requests for an opinion were processed via the automatic system
launched in 2016. Thanks to further adjustments and improvements of the system and GIS,
the number of requests processed automatically increased by 6% compared to 2019.
Thanks to this, the opinion department was able to process a higher number of requests
and to settle all of them in the legally required 30-day period.
Projected Business Development and Financial Position in 2021
The Company plans to spend CZK 740 million on investment projects in 2021. Similarly to
prior years, the Company aims to base its investment policy on the need for the ongoing
improvement and development of business activities. It focuses primarily on renewal,
upgrades and reconstruction of water supply and sewage networks and projects aimed at
compliance with legislative requirements for both drinking water purification and deliveries
and wastewater drainage and treatment. The Company will continue to support and finance
development projects pertaining to water supply infrastructure in the municipalities of the
region in which the Company operates. All investments in 2021 will be financed using the
Company’s own resources.
Year-on-year, an increase of CZK 84,451 thousand is planned for 2021 in respect of the
total increase in costs of repairs, maintenance, material consumption and other operating
costs.
The Company will develop its activities and react to opportunities for boosting its further
growth, in particular through acquisitions of target water management companies and
tenders for the operation of water management infrastructure in the individual parts of the
Czech Republic.
In 2021, total expenses (not including the income tax) are planned to amount to CZK
2,277,264 thousand, income to CZK 2,804,275 thousand and profit before tax to CZK
42
527,011 thousand. The 2021 plan of total expenses is based on the anticipated needs and
price development.
The draft business plan stipulates the following volume units for 2021: 32,757 thousand m
3
of billed drinking water, 26,540 thousand m
3
of drained water and CZK 18,968 thousand m
3
of water delivered to other water management companies for further distribution.
The Company has no knowledge of any risk factors arising from its dominant market position
in the regions in which it operates.
43
12. PRINCIPAL ACTIVITIES
Water Resources
96% of the Company’s production of drinking water is ensured by the treatment of raw water
that comes from central sources – the Kružberk, Šance and Morávka water reservoirs
managed by the state-owned Povodí Odry (“Odra Basin”) enterprise.
The water reservoir on the Moravice River by Kružberk at the foothills of the Jeseníky
Mountains was built as the first valley dam in the Odra basin in 1948-1955. Following the
completion of the higher-lying Slezská Harta reservoir, which Kružberk closely cooperates
with as part of the cascade, its tasks are to ensure the supply of raw water for the Podhradí
Water Treatment Plant, to enhance watercourse flow rates and to enable industrial offtake
from them. An important function of the cascade is flood protection.
The Šance valley dam on the Ostravice River above the town of the same name was built
in 1964-1969 according to the original notions about the need for flood protection, which
was later supplemented with a plan to supply the region with drinking water. It supplies
untreated water to the Nová Ves Water Treatment Plant.
The valley dam on the Morávka River was, as a water source, built between 1961-1967 due
to the growing requirements to ensure the supply of drinking water. Besides enhancing flow
rates below the dam, reducing flood flow rates and the continuous use of the flow for energy
purposes, the purpose of the facility was namely to supply drinking water. It supplies
untreated water to the Vyšní Lhoty Water Treatment Plant.
Pursuant to the current reservoir water quality, the manager may choose to offtake raw water
for treatment to produce drinking water out of several offtake altitudes, which ensures the
optimum set-up of the treatment process. Turbines thanks to which the available energy
potential of the transported water may be exploited are placed at the inflow to each of the
three main water treatment plants. In order to protect the quality and safety of raw water,
water resource protection zones are demarcated in the catchment areas of all reservoirs,
where special conditions apply to business and the performance of possible activities so
that the quality and capacity of water in water reservoirs are not compromised.
Drinking Water Production
The majority of the production takes place at water treatment plants in Podhradí by the town
of Vítkov, Nová Ves by the town of Frýdlant nad Ostravicí and Vyšní Lhoty close to the town
of Frýdek-Místek. The remaining part of drinking water production takes place at another 43
local sources of ground and surface water.
Three central water treatment plants are interconnected by means of a system of feeder
mains, creating a backbone production and distribution system of the Ostrava Area Water
Supply System, which is operated mainly as a gravitational one with large-capacity
accumulations of drinking water. This, together with the possibility to interconnect and
substitute central sources, ensures a highly-reliable and continuous supply of drinking water
to the consumption points supplied.
44
The drinking water production process and product quality are monitored in compliance with
valid legislation and in the frequency and scope necessary for reviewing the correct set-up
of technology processes. Besides laboratory sample analyses, the quality of drinking water
is monitored using a number of continuous analysers, with the health limits thereon set by
Decree No. 252/2004 Coll., which stipulates the safety requirements for drinking water and
hot water, including the frequency and scope of reviews.
Legislative water samples are analysed in an accredited laboratory, with analyses of
operational water tests provided by operational laboratories at the Podhradí Water
Treatment Plant and the Nová Ves Water Treatment Plant. In the long term, the Company
has succeeded in maintaining a high quality of drinking water supplies.
Water quality in central water treatment plants
2020
Podhradí
Water
Treatment Plant
Nová Ves
Water
Treatment Plant
Vyšní Lhoty
Water
Treatment Plant
Water
quality
Unit of
measurement
Limit value pursuant
to Act
No. 258/2000 Coll.
and Decree No.
252/2004 Coll.
Treated water
Average value
Treated water
Average value
Treated water
Average value
pH
6.5 – 9.5
7.74
7.78
7.81
KNK
4,5
mmol.l
-1
-
0.87
0.68
0.54
ZNK
8,3
mmol.l
-1
-
0.018
0.019
0.016
Colour
mg.l
-1
Pt
20
3.79
2.15
0.26
Opacity
ZF
5
0.059
0.025
0.015
CHSK
Mn
mg.l
-1
3
1.71
1.21
0.58
Iron
mg.l
-1
0.2
< 0.05
< 0.05
< 0.05
Manganese
mg.l
-1
0.05
< 0.025
< 0.025
< 0.025
Nitrates
mg.l
-1
50
4.93
1.80
2.43
Nitrites
mg.l
-1
0.5
< 0.01
< 0.01
< 0.01
Aluminium
mg.l
-1
0.2
0.03
0.03
0.01
The volume of drinking water production in 2020 follows the trend of the preceding period.
During the year, the Company produced 57,392 m
3
of drinking water, which represents a
year-on-year decrease of 2,650 thousand cubic metres.
The volume of drinking water production – time process
Water treatment plants – water
production in thousands of
cubic metres per year
2014
2015
2016
2017
2018
2019
2020
Podhradí
30,903
32,614
29,723
27,468
28,704
28,016
28,244
Nová Ves
24,426
22,941
23,273
24,043
23,715
23,513
21,598
Vyšní Lhoty
5,901
5,694
5,800
5,705
5,167
5,376
4,860
Local sources
3,303
3,198
3,240
3,190
3,143
3,139
2,690
Total
64,533
64,448
62,036
60,406
60,729
60,042
57,392
45
Despite the exceptionally difficult society-wide impact of the novel coronavirus pandemic
throughout 2020, the Company was able to ensure smooth supplies of drinking water, fully
satisfying customer requirements for the quality and amount of supplied drinking water
thanks to sufficient capacities and flexibly adjusted organisation of activities. During the
state of emergency declared by the Government of the Czech Republic in the first half of
the year, certain operating activities were restricted or even suspended in order to protect
the health of the Company’s employees but also due to customer concerns about the spread
of the disease (the exchange of billing water meters at customers was almost completely
suspended, planned temporary shutdowns were limited and certain planned operating
activities were postponed). During the year, the Company managed to eliminate this forced
operating service outage.
As of 31 December 2020, the Company operated a 5,099-km water supply network,
including 138,350 water service connections, 358 water tanks and 221 pumping stations.
The supply of top quality drinking water, which ranks among the best in the Czech Republic,
is among the Company’s long-term goals that it has succeeded in meeting.
In comparison to 2019, the volume of billed drinking water saw a decrease in 2020, by
965 thousand m
3
year-on-year. Consumption of drinking water in households increased (by
412 thousand m
3
year-on-year); however, the amount of water supplied to other customers,
also due to the above-described reasons, saw a considerable decrease (1,377 thousand m
3
year-on-year). The amount of water supplied to water management organisations
decreased by 1,796 thousand m
3
compared to 2019. A total of 23,441 thousand m
3
of
drinking water was delivered to households, and 8,863 thousand m
3
to other customers.
Water production and supply in units of volume
Indicator
Unit
2018
2019
2020
Water produced in Company facilities
thousand m
3
60,729
60,042
57,392
Water from third-party water management
organisations
thousand m
3
132
79
77
Water supplied to third-party water management
organisations
thousand m
3
20,575
20,257
18,461
Water produced for use by final consumers
thousand m
3
40,286
39,864
39,008
Billed water
thousand m
3
33,286
33,269
32,304
Of which: households
other
thousand m
3
22,899
10,387
23,029
10,240
23,441
8,863
46
In 2020, the volume of unbilled water increased slightly, increasing from 6,595 thousand m
3
to 6,704 thousand m
3
, i.e. by 109 thousand m
3
in comparison to 2019.
The year 2020 was yet again marked by increased efforts in respect of the construction and
assembly activities provided by the Central Emergency Service and individual emergency
centres. The recorded revenue amounted to CZK 69,293 thousand.
Basic Information on Water Supply Networks
Indicator
2018
2019
2020
Number of inhabitants connected to the system
723,755
721,491
721,469
Number of water supply networks for public consumption of
which: group pipelines
129
56
130
55
130
55
Length of water supply network (km)
5,078
5,072
5,099
Number of water service connections
135,294
136,510
138,350
Length of water service connections (km)
771
770
770
Number of installed water meters
137,154
138,552
140,428
Number of replaced water meters /year
24,686
18,955
19,219
Number of fixed-tariff water off-takes
1,728
1,589
1,573
Number of pumping and re-pumping stations
222
219
221
Number of water treatment plants
46
45
46
Number of water tanks
370
359
358
Volume of water tanks (m3)
390,589
389,649
389,424
47
Specific water consumption per capita/day in 2020 amounted to 123 litres for total billed
water and 89 litres for billed water supplied to households. Total specific billed water
consumption decreased by 3 litres compared to 2019; specific water consumption billed to
households increased by 2 litres per capita/day compared to 2019. This development is the
result of the epidemic situation and the related pandemic measures, which affected not only
the corporate and public sectors but also everyday household lives.
Especially during the first wave of the COVID-19 epidemic in spring 2020, manufacture in
the facilities of several significant customers in the region was temporarily limited (e.g.
Hyundai Motor Manufacturing Czech and the related companies in the supply chain, OKD,
LIBERTY Ostrava etc.); schools were repeatedly closed during the year and activities of
businesses in the sector of services were restricted (hotel industry, gastronomy business).
This resulted in a decreased demand for drinking water from these entities.
However, many businesses as well as state institutions introduced work from home for their
employees, if the nature of their work allowed it. Apart from this reason, specific water
consumption billed to households may have increased also due to the fact that customers
tended to stay at home more often to take care of their family members, to stay in
compulsory quarantine or due to being sick with COVID-19.
Operation of Sewage Systems
In 2020, the Company operated sewage networks in 80 municipalities and cities in the
Moravian-Silesian Region and in Velké Losiny in the Olomouc Region in the total length of
1,872 km. A total of 485,424 inhabitants were connected to the network through sewage
service connections.
The sewage network included 176 pumping stations transporting wastewater from low areas
to gravitation sewage pipelines fitted with wastewater treatment plants at the end of each
48
pipeline. In 2020, a total of 26,721 thousand m³ of wastewater was drained (including billed
rainwater drainage) in the towns and municipalities within the Company’s scope of
operation.
Wastewater treatment operations were carried out in 75 plants, of which 73 are
mechanical/biological wastewater treatment plants and 2 mechanical wastewater treatment
plants. Their overall capacity is 262,140 m³ per day and 954,376 population equivalents
(PE).
The quantity of wastewater drainage from households and industry saw a slight decrease
as compared to 2019. The proportion of wastewater treated in sufficient efficiency facilities
did not change substantially. During the reviewed period, a total of 55,180 thousand m³ of
wastewater was treated in all wastewater treatments plants, of which 55,164 thousand m³
was in sufficient efficiency facilities.
Throughout the year, the operation of the sewage systems and wastewater treatment plants
was trouble-free with no major interruptions or failures, despite the fact that it was necessary
to cope with the strict measures introduced during the COVID-19 pandemic, which affected
day-to-day operating activities.
During 2020, a number of constructions were performed on sewage networks. The most
significant are as follows:
Doubrava - removal of the sewage outfalls at U Komendra Street (including the
construction of Doubrava WWTP)
Albrechtice – reconstruction of the “O1C” lightening sewer
Těrlicko, Hornická Street – reconstruction of a sewage pumping station
Havířov - Město, U Stromovky Street – reconstruction of the “AVI” and “AVIa” sewers
Karviná - Nové Město, Třída Družby 1396-1400 - reconstruction of the “BVIc” and
“BVIc2” sewers
Nový Jičín, Máchova Street – reconstruction of the “AL” sewer
Odry Sewage Pumping Station (Nábřežní) – reconstruction of the technological
process control system and integration into the controlling system of SmVaK Ostrava
Nový Jičín, Nábřežní Street, Msgr. Šrámka Street, Komenského Street, Novosady
Street – reconstruction of sewers
Příbor, Zámečnická Street, Nádražní Street, Sigmunda Freuda Square-
reconstruction of sewers
Opava, Olomoucká Street – reconstruction of the “A” sewer
Opava, Těšínská Street – reconstruction of the inspection chambers of the “A” sewer
The projects implemented and launched in the area of wastewater treatment in 2020
focused on the renovation of facilities, enhancing the optimisation of technology processes
and reducing the discharge of residual waste were as follows:
Třinec WWTP – reconstruction of sludge drainage
Český Těšín WWTP - reconstruction of boiler room
Třinec WWTP - reconstruction of cogeneration
Horní Bludovice WWTP - extension of the degree of biological treatment
Karviná WWTP – adjustment of primary and return sludge draining control
Štramberk (Kanada) WWTP - reconstruction of the construction and technologies
(construction finalisation)
Dobroslavice – sewers and WWTP (construction finalisation)
49
Bílovec WWTP - intensification (beginning of construction)
Kopřivnice WWTP – construction of the DN-3 clarifier (beginning of construction)
All mechanical/biological wastewater treatment plants owned by the Company comply with
the requirements of the EU and Government Regulation No. 401/2015 Coll.
Key technical data on sewage networks and wastewater treatment plants
I n d i c a t o r
Unit
2018
2019
2020
Households connected to public sewage system
number
504,405
484,050
485,424
Municipalities with public sewage systems
number
80
79
80
Wastewater treatment plants
number
71
72
75
Capacity of wastewater treatment plants
m
3
.d
-1
271,081
261,759
262,140
Length of the sewage system
km
1,888
1,842
1,872
Sewage service connections
number
55,568
54,219
55,280
Wastewater discharged into public sewage
systems (excl. billed rainwater drainage)
thousand m
3
23,897
23,305
22,957
of which treated
thousand m
3
23,826
23,251
22,687
Treated wastewater (incl. rainwater)
thousand m
3
45,407
48,284
55,180
Sludge produced in wastewater treatment plants
(100% dry mass)
t.r
-1
10,694
10,214
10,034
50
51
The year-on-year increase of 14.3% in the volume of treated wastewater was the result of
2020 being an exceptionally rainy year in areas where the Company operates sewage
systems and wastewater treatment plants.
Investment Projects and Repairs of Tangible Assets
The cost of investment projects and deliveries incurred in 2020 exceeded CZK 693 million.
Summary and structure of investment in 2020
52
Major investment projects implemented and completed in 2020
Investment name
Total costs in
CZK thousand
Chlebovice – Lysůvky – reconstruction of water pipes
13,840
53
Sviadnov, ulice Milíčova a Rybářská – replacement of water pipes
5,072
Bohumín – Záblatí, Sokolská Street, Bezručova Street, Na Pískách Street –
replacement of water mains
11,527
Nový Jičín, Máchova Street – replacement of water mains
12,528
Nový Jičín, Nábřežní Street, Msgr. Šrámka Square, Komenského Street, Novosady
Street – replacement of a water main
9,756
Karviná – Nové Město, Třída Družby Street No. 1396 – 1400 – reconstruction of the
“BVIc” and “BVIc2” sewers
5,765
Nový Jičín, Máchova Street – reconstruction of the “AL” sewer
16,946
Příbor, Zámečnická Street, Nádražní Street, Sigmunda Freuda Square – reconstruction
of sewers
8,389
Opava, Olomoucká Street – reconstruction of the “A” sewer
12,375
54
Major investment projects commenced or realised in 2020
Investment name
Total in CZK
thousand
2020
in CZK
thousand
2021
onwards
in CZK
thousand
DN 500 feeder Chlebovice – Staříč – Bělá – reconstruction
146,429
63,566
40,491
Nová Ves WTP– reconstruction of the technological part and
automated management system
130,852
25,533
5,875
Mniší Water Reservoir – repair and reconstruction of the
construction part of the accumulation chamber and the
water reservoir
11,009
9,074
1,935
Bílov Water Reservoir 2 x 250 m
3
– damp-proofing of the
building
4,020
3,512
508
Podhradí WTP – replacement of part of the DN 1000 piping
– drain from the ozone reaction tanks – flocculation
15,557
1,248
14,309
Opava, Mostní Street, Sadová Street – replacement of water
mains
24,608
7,019
17,589
Extension of gauging of lightening waters in WWTP - 1
st
phase, 2
nd
phase
32,370
12,342
20,028
Frýdek Místek WWTP – reconstruction of the operational
building
16,173
6,310
9,863
Kopřivnice WWTP – construction of the DN-3 clarifier
37,963
21,491
16,472
Bílovec WWTP – intensification
60,411
42,632
17,779
Investments in operating assets in 2020
Investment name
Investment in
2018 in CZK
thousand
Investment in
2019 in CZK
thousand
Investment in
2020 in CZK
thousand
Automobiles – passenger, trucks (incl. leased vehicles)
23,840
17,000
35,219
Automobiles - special, accessories, trailers
466
15,277
5,421
Pumps
2,515
3,970
2,257
Hand tools
157
348
398
Machinery
7,003
1,131
1,494
Water meters
3,469
5,473
4,633
Computing technology
9,424
5,140
12,193
Other
373
6,280
10,609
Major investments in past years
Major projects commenced or completed in 2018
The most significant construction of 2018 was the completion of the reconstruction of the
feeding main in the first stage of the DN 500 Záhumenice – Bělá feeder – emergency
solution of the crossing of the Odra River and beginning of the reconstruction of the
technological part as well as an automated management system in the Nová Ves WTP.
55
A significant investment in the area of drinking water supply was, for example, the
reconstruction of the water pipes in Krnovská Street in Opava. The construction was
realised in coordination with the Road and Motorway Directorate, which was simultaneously
working on the renewal of streets in this area. Similar were also the works in Opava-
Kateřinky, Kolofíkovo nábřeží, Ratibořská Street – reconstruction of water pipes, where the
renewal of streets was realised by the Statutory City of Opava.
A significant investment related to wastewater drainage and treatment included the start of
the reconstruction of the Václavovice WTP and the initiation of the construction of a WTP
and the finalisation of the construction of a sewage system for public use in Dobroslavice
aimed at automated sewage and wastewater treatment in the municipality.
Major projects commenced or completed in 2019
The most important project of 2019 was the commencement of reconstruction of the DN 500
Feeder Chlebovice – Staříč – Bělá and the continued reconstruction of the technological
part and automated management system in Nová Ves WTP.
A major investment into drinking water supplies was the reconstruction of the water main on
the streets of 5. května, Kosmonautů, Čs. legií, J. Koczura and Okrajní in Bohumín, in
coordination with the owners of other utilities, such as Gridservices, CETIN, and the town of
Bohumín, which carried out a reconstruction of the sewage system. Another important
project was the reconstruction of the water main in Starý Jičín – Vlčnov, carried out due to
frequent breakdowns and poor technical state of the infrastructure.
Important projects in the area of draining and treating wastewater included the ongoing
construction of sewage systems and WWTPs in Dobroslavice, Doubrava, and Petřvald. The
aim of these constructions was to ensure controlled drainage of wastewater into new
WWTPs and connection to the existing sewer network; at the same time, sewage outfalls
were removed.
Major projects commenced or completed in 2020
The most important project commenced in Ostrava Area Water Supply Networks was the
reconstruction of the Mniší Water Reservoir and Frýdek Water Reservoir, the replacement
of part of the DN 1000 drainage piping from the ozone reaction tanks in Podhradí WTP, and
the ongoing reconstruction of the DN 500 feeder Chlebovice – Staříč – Bělá.
In the area of supplies of drinking water, important completed investments included the
reconstruction of water mains in Stará Ves (Na Závodí Street, U Vody Street and
Petřvaldská Street), Chlebovice – Lysůvky, Bohumín – Záblatí (Sokolská Street, Bezrušova
Street, Na Pískách Street), Nový Jičín (Máchova Street, Nábřežní Street, Msgr. Šrámka
Square, Komenského Street, Novosady Street), and Opava (Mostní Street, Sadová Street
– to be finished in 2021). Further, the reconstruction of the building of the intervention centre
in Orlová was completed, which will significantly reduce the operating costs of the building.
In the area of wastewater drainage and treatment, constructions were completed that
removed the existing sewer outfalls without treatment facilities and wastewater is now being
drained to newly built wastewater treatment plants in Dobroslavice and Doubrava. In a
similar construction in Petřvald – Podlesí, wastewater is newly drained to Havířov WWTP
through a sewer pumping station. Other initiated projects include a construction of a clarifier
in the area of Kopřivnice WWTP and the extension of the degree of biological treatment and
sludge management in Bílovec WWTP.
56
Investment strategy and long-term investment plan
Ostrava Area Water Supply Network
The long-term investment plan for the 2020–2025 period is supported by projects that are
ready design-wise or the design solution of which is currently still being worked on.
In the area of water treatment plants, continuous modernisation of technological equipment
is planned in order to ensure high quality of produced water, as well as reliability of the
system. In 2018, the modernisation of the technological part and the automated
management system in the Nová Ves water treatment plant was launched. These extensive
works will be completed in spring 2021. They will be gradually followed up by smaller
projects in all the three central water treatment plants.
Ensuring security in the premises of water treatment plants and related facilities is also of
strategic importance. That is why in 2019, building security modernisation projects were
launched in the water treatment plants in Nová Ves and Podhradí. The projects will be
finalised in 2021 and the Company will continue with the modernisation of building security
in other strategic facilities.
With regard to the feeders, systematic exchange of parts in an unsatisfactory technical
condition continued. In 2019, the reconstruction of the DN 500 Chlebovice – Staříč – Bělá
feeder was launched; the works will be finished in 2021. In the second stage, the
reconstruction of the Záhumenice – Bělá feeder will continue.
Water supply system
Major resources are directed at the restoration of the water supply network. In the 2020–
2025 period, the length of the water mains under restoration is planned to be gradually
increased. Further resources are put into the reconstruction of water tank facilities or
pumping stations, including the technological equipment, management system, and
improvement of building security.
Sewage system and wastewater treatment plants
In the next period, most of the resources will be directed at the restoration of the sewage
network, including the finalisation of the liquidation of sewer outlets without treatment
facilities. Further significant resources will be allocated to the reconstruction of the
technological equipment of wastewater treatment plants and, pursuant to the legislative
requirements, to equipping the lightening chambers with devices to measure the volume
and quality of lightened water. The Company is also preparing for changes in legislation
regarding sludge management. A study on sludge disposal for the upcoming period was
carried out and in 2020, the Company prepared a project of the first of the planned sludge
dryers in the region.
Repairs of tangible assets
In 2020, repairs were carried out on water supply facilities (water treatment plants, water
tanks, pumping stations, wastewater treatment plants), and on water supply and sewage
networks. All failures were resolved in a prompt and efficient manner. The volume of repair
and maintenance work performed by subcontractors amounted to CZK 217,152 thousand in
2020, which represents an increase of 6.1% against the plan.
57
Key repairs performed in 2020
Repair
Total costs in CZK
thousand
Raduň Break Pressure Chamber – repair and reconstruction of the
accumulation chamber, damp-proofing of the break pressure chamber
6,720
Podhradí WTP – repair and reconstruction of the batcher building
6,042
Vyšní Lhoty WTP – repair of the construction parts of the buildings
3,894
Bílov Water Reservoir 2 x 250m
3
– damp-proofing of the building
6,102
Fulnek Water Reservoir 2 x 750m
3
– damp-proofing of the building
7,500
Immovable assets
The Company owns immovable assets in the following value:
(in CZK thousand)
2018
2019
2020
Net structures
6,338,413
6,350,945
6,413,437
Land
155,850
164,839
166,356
Most structures owned by the Company represent tangible fixed assets of a water
management infrastructure nature, which primarily serve for production operations, the
supply of drinking water to customers, and the drainage and treatment of wastewater.
58
13. INFORMATION TECHNOLOGIES
One of the main tasks in 2020 was to further increase the security and reliability of
information systems and ensure suitable technical means for working from home during the
coronavirus pandemic. Due to the newly-emerged situation, it was necessary to quickly set
up appropriate conditions for employees to be able to work from home or isolated
workplaces in terms of their hardware and software equipment; it was also necessary to put
into operation suitable communication technologies to support remote communication and
teamwork, to ensure a secure connection to the information systems and a sufficient number
of laptops.
An extensive project was initiated to further increase building security of the operating
premises, especially water treatment plants and important water reservoirs. This brought
about the importance of ensuring a suitable data connection among the individual security
features and central security control systems.
Furthermore, crucial IT infrastructure was modernised with the aim of ensuring its better
reliability and security.
In 2020, the Company expanded the functionality of a number of existing information
systems and began implementing new ones, for example, a project management system or
a document circulation and administration system.
In 2021, the Company plans to continue especially with projects that increase cybersecurity
and physical security of information systems and equipment. The Company will continue the
implementation of the document circulation and administration system and further
modernisation of the IT infrastructure.
14. SUSTAINABLE DEVELOPMENT
With respect to its activities, the Company influences the lives of the majority of the people
in the region, be it through its customers to whom it supplies drinking water and provides
wastewater drainage, its employees or suppliers of material, technologies and services.
The Company is fully aware of its responsibility for the region in which it operates and has
thus incorporated the principles of social responsibility and sustainable growth into all its
activities. The Company’s philosophy is based on four pillars, namely Corporate
Governance, People, the Environment and the Region.
Corporate Governance
The Company voluntarily abides by the selected Chapters of the Code of Corporate
Governance based on the OECD principles compiled by the Czech Securities Commission.
Being a member of the FCC Group, the Company also adopted the FCC Group Code of
Ethics which it implemented and adjusted in line with its specific conditions. In line with the
compliance programme of the FCC Group, the Company also adopted the Policies that
supplement the FCC Code of Ethics – the Human Rights Protection Policy, Gift Policy,
Commercial Agents Relationships Policy, and Health Protection Policy. These policies were
published on the Company’s intranet and in locations accessible to all employees. In late
2020 and early 2021, their implementation into the Company’s day-to-day activities began
and employees started to familiarise themselves with them.
59
The Company is a holder of five quality management certificates, namely:
ČSN EN ISO 9001: 2016 (quality management system)
ČSN EN ISO 14001: 2016 (environmental management system)
ČSN ISO 45001: 2018 (occupational safety and health protection management system)
ČSN ISO 50001:2018 (energy management system)
ČSN ISO 14064-1 (measuring and reporting greenhouse gas emissions – carbon footprint)
In November 2020, the Company successfully completed a recertification audit extending
the validity of three certificates (occupational safety and health protection management
system, quality management system and environmental management system). In terms of
occupational safety, the Company completed certification under the new ČSN ISO
45001:2018 standard. In October, the Company successfully completed an external
surveillance audit of the energy management system. In November, the Company was
successfully verified under ČSN ISO 14064-1 (measuring and reporting greenhouse gas
emissions – carbon footprint) for 2019.
Human Resources
As the Company fully realises the significance of qualified and motivated employees for its
operation and further development, it pays great attention to human resources. In 2020,
labour relations were in compliance with the Labour Code and the applicable collective
bargaining agreement, which is concluded on a yearly basis. The Company has not
established a special remuneration committee.
Recalculated headcount – development over time
2016
2017
2018
2019
2020
Manual workers
555
555
552
542
544
Technical operations managers
313
305
311
313
311
Total
868
860
863
855
855
Occupational Safety
The Company continuously pays great attention to its occupational safety and health
protection management system in all aspects of its operation. In line with the ISO standards,
it has therefore implemented an integrated occupational safety and health protection
management system under the new ČSN ISO 45001 standard. In November 2020, the
Company successfully completed another supervisory audit and together with quality
management and environmental protection succeeded in extending the validity of the
certificate under the ČSN ISO 45001 standard.
As a result of implementing the ISO standard, the entire Company employs occupational
health and safety and fire safety standards with the objective to enhance the level of health
and safety of the Company’s employees. New risks are regularly being identified and
implemented in the risk register. Effective measures are adopted to mitigate the potential
impact on employees’ health, such as modifying personal protective work equipment and
replacing individual protection measures with collective employee protection measures.
60
The implementation and maintenance of the integrated management system affects all
areas of occupational safety, such as compliance with safe work procedures in the operation
and maintenance of water management facilities or performing employee tasks on roads
and movement thereon; enforcing conditions regarding compliance with occupational safety
upon the conclusion of contractual relations with suppliers; issuing of entry permits within
the Company’s facilities; performing worksite supervision; performing controls as part of
reconstruction of buildings and technical facilities; staff training; worksite sanitation
standards; continuous use of personal protection aids; provision of prophylactic drinks to
employees, prevention of occupational injuries, etc.
In 2020, twelve light occupational injuries were recorded, none of them resulting in
permanent health damage. The investigation of their causes did not identify any violation of
regulations on the employer’s part. In view of the demanding and versatile nature of jobs
performed by Company employees and the impact of climatic conditions, a high frequency
of ground work and road work, this record shows that the implementation of the ČSN ISO
45001 standard and its continuous improvement has a long-lasting positive effect on the
occupational safety and health protection of the Company's employees.
In 2020, the Company continued with the health and safety at work project focused on the
culture of prevention which includes four tools for mutual communication between
employees and the employer. In the course of the project, management visits at the
worksites were performed, as well as refresher employee training, and observation of
performed activities from the perspective of occupational health and safety. Talks with
employees on occupational health and safety were organised on a regular basis at the
facility centres. The aforementioned tools were brought to the Company’s employees’ notice
and they fulfil their purpose as further means of communication between the employees and
the management of the Company.
In relation to the novel coronavirus pandemic in 2020, increased requirements were placed
on equipping all employees with personal protective equipment, which served as a
preventive protection against the spread of COVID-19 (masks, respirators, anti-COVID
disinfectants, disposable gloves etc.). This equipment was adequately provided to all
employees with regard to their job classification.
Further Education and Training
The training system is based on the relevant regulations and laws related to individual
activities. A training plan is prepared for each year and approved in line with the methodology
instruction. The training plan is based on the records of work activities and health checks of
employees, which subsequently form the basis for training and medical examination
frequency.
It is possible to assign training in the human resources information system. The system
subsequently evaluates whether the prerequisites for the performance of a specific activity
are met, i.e. whether the training or relevant health checks have been realised. The system
also informs the relevant department heads and human resources officers about any training
or health checks whose due date is approaching. The training sessions are organised based
on their nature, location of the operation and the number of employees signed up for the
training, in cooperation with the relevant department heads and human resources officers.
In line with the program of the Integrated Management System, the employees may choose
to be vaccinated against hepatitis and tick encephalitis.
61
In 2020, the Company provided 3,857 hours of training, which represents approximately 19
hours of training per employee per year. The year-on-year decrease of 3 hours per
employee was caused by the global pandemic. The Company focused on organising only
training that was absolutely necessary, especially training required by law and activities
available online.
Benefits
The Company provides its employees with a number of benefits, such as meal vouchers for
employees working at least four and a half work hours a day. The Company covers 60% of
the value of the employee meal vouchers. Providing that certain criteria are met, the
employees are also entitled to vouchers for cultural, sports and social events.
In cooperation with O2 Family, the Company arranged the possibility for employees and
their families to obtain more advantageous plans in this operator’s programme.
In compliance with Section 212 of the Labour Code, all employees have an additional week
of vacation. Employees who are engaged in particularly hard work (e.g. in the sewage
system operation and wastewater treatment plants) are entitled to another additional week
of vacation. The Company provides contributions to employees and their family members
for child camps, package tours, medical and wellness therapies in line with the regulations
approved in the collective bargaining agreement.
In extreme cases of social need, the Company offers employees (or their bereaved family
members) a one-off non-repayable benefit amounting to CZK 15,000. Upon a written
request, the Company may provide a re-payable interest-free loan amounting to CZK
20,000/CZK 50,000 as appropriate. The Company’s employees receive rewards on special
work and life anniversaries, or merit rewards (e.g. Jánský medal or commemorative crosses
for blood donors).
Employees who meet certain criteria receive contributions to pension funds.
Environment
The ongoing objective of the Company’s operations is to ensure long-term protection of the
environment in regions where the Company conducts business, with an increased focus on
sustainable development. Investments in wastewater drainage and treatment aim primarily
to renovate the existing sewage networks and upgrade the facilities housing sewage
pumping stations and wastewater treatment plants. The Company was awarded the ČSN
EN ISO 14001: 2016 certification.
Investments in wastewater drainage and treatment focus primarily on the renovation of the
existing sewage networks and upgrade of wastewater treatment plants and of the facilities
housing sewage pumping stations.
The Company continued to expand and improve services provided to municipalities in the
operation of sewage systems and wastewater treatment plants and in meeting related
legislative environmental requirements, including advisory services, particularly in respect
of projects co-funded from EU grants or from national sources. The Company operates
sewage systems and wastewater treatment plant facilities in numerous municipalities and
cities under license contracts concluded with these entities and also provides related
professional technical support.
The Company introduces elements of biodiversity in its premises where it makes sense
environmentally, technologically, and economically. In water tank areas, WTP and WWTP
areas, flower meadows are being introduced on a larger scale, as well as bug hotels. The
62
Company plans to continue with these activities in the following period, intending to expand
biodiversity in suitable areas by introducing new elements (pools etc.).
Carbon footprint monitoring
The Company decided to carry out a comprehensive analysis of how its activities affect the
surrounding environment in terms of greenhouse gas emissions. For this reason, it
described its carbon footprint in great detail in line with the ČSN ISO 14064-1 standard. Its
calculation entailed creating a methodology, the correctness and completeness of which
was verified by an independent audit company. Simultaneously, the calculation of the
Company’s carbon footprint in 2014 was verified, which was selected to be the reference
year and which serves as a benchmark for comparing the carbon footprint in the subsequent
years. The Company intends to continue in the activities leading to the reduction of its
carbon footprint.
In November 2020, the Company successfully verified this standard for 2019. The
measures implemented so far have proved to be effective.
System for energy efficiency improvement
In 2016, the Company became the second water management company in the Czech
Republic to implement the ČSN ISO 50001 standard. In October 2020, the Company also
successfully underwent the surveillance audit. The implementation of this standard entails
monitoring energy handling with a view to improving the energy efficiency of operations and
technological devices. Measurable objectives and targets have been set as to what savings
may be achieved in handling energies and in which areas.
The introduction of the ISO 50001 system represents an addition to and expansion of the
existing integrated management system, which will consequently lead to a constant
monitoring of energy consumption, a pursuit of savings in energy consumption and a
gradual optimisation of the use of all types of energy in the Company.
Small hydroelectric power plants and cogeneration units
In addition to producing drinking water and facilitating wastewater treatment, modern water
management facilities use their capacity to generate clean renewable electricity or heat. In
2020, the Company’s facilities using renewable energy sources generated 9,636 MWh of
electricity.
Small hydroelectric power plants installed within the Ostrava Area Water Supply Networks
generated 4,935 MWh, of which 1,958 MWh were sold to the ČEZ Distribuce distribution
network and the Pražská energetika trader, and the remaining 2,907 MWh were used to
operate the technological equipment of the Ostrava Area Water Supply Networks.
Transmission losses (low/high voltage) amounted to 70 MWh.
Co-generation units in the wastewater treatment plants generated 4,701 MWh of electricity,
of which 3,816 MWh were allocated for powering the operation of technological equipment,
87 MWh were supplied to the ČEZ Distribuce network, and 798 MWh were consumed by
the operation of the co-generation units.
The methodology guidelines for waste management, chemical substances management, air
protection and wastewater discharge were updated to comply with the relevant legislative
changes and reflect the actual conditions in respective Company centres.
63
Region
The Company supports activities of non-profit organisations working with children,
teenagers, people with disabilities and the elderly. SMVAK Ostrava is a partner to numerous
cultural, social, sports and educational events organised in the region, organised principally
by local towns and municipalities.
In 2020, activities in this area were substantially limited due to the epidemic situation and
the resulting restrictions, which affected the organisation of events in the aforementioned
areas. Due to this fact, the Company supported organisations that joined the fight against
the novel coronavirus, whether by providing material support to ADRA volunteers in the form
of personal protective equipment or by providing financial support to projects focused on the
manufacture of face shields for healthcare workers in the front line.
The Company also thought of former employees to whom it offered help in case they were
quarantined, sick or unable to go shopping or run necessary errands in person because they
were concerned about the spread of the disease.
The Company is a major employer in the region. Given that its annual investments in the
renovation of the water management infrastructure amount to hundreds of millions of Czech
crowns, the Company indirectly provides jobs for hundreds of employees of its contractors.
We are in this together! (“Plaveme v tom spolu!”)
In 2020, the fifth year of the grant programme for active employees entitled “We are in this
together” saw support provided to 20 projects of the non-profit organisations in which the
Company’s employees are involved in their free time and generally free-of-charge. The total
support to projects amounted to approximately CZK 200 thousand.
Assistance was directed at events for people with disabilities, cultural events, projects for
the conservation of the environment, children’s events or activities of sports clubs and
voluntary fire brigades. In order for the supported projects to take place, a number of them
had to be modified during the year due to the restrictions resulting from the epidemic
situation.
The Company continues to run the successful programme – in December 2020, it
announced a grant call for projects to be implemented in 2021.
Education
There has been long-term cooperation between the Company and Technical University
Ostrava, namely the Faculty of Mining and Geology. Thanks to this, a number of the
university’s alumni specialising in water management have found employment in the
Company. Both institutions have also cooperated in the field of scientific research over the
long term.
64
In cooperation with experts on modern and innovative forms of education, the Company
prepared a programme for secondary school pupils entitled The Tree of Life (Strom
života). The project has been implemented in schools since April 2016. By the end of
2019, it was realised nearly 220 times and approximately 3,700 6- and 7-grade pupils
participated in this project. Using an experience-based approach, the educational
programme explains the significance of water for humans and the environment. As a game
that addresses the issue in a comprehensive way, it is the first of its kind in the Czech
Republic. For its innovativeness, it won an award both from the general public (Association
for the Development of the Moravian-Silesian Region) and the professional public (the
Eduina competition).
The coronavirus pandemic and the resulting closure of schools meant that in 2020, the
programme was implemented only in six schools until March (compared to 31 schools and
90 implementations in 2019). As soon as the epidemic situation and the related measures
allow, the Company is planning to continue with the Tree of Life programme, as well as the
Oxidian Planet programme, aimed at pupils in the senior years of primary schools and
students of freshman years of multi-annual grammar schools.
Persons Responsible for the Audit of the Financial Statements:
In 2018: Deloitte Audit s.r.o., Karolinská 654/2, 186 00, Prague
Auditor’s Name: Petr Michalík
Auditor’s Certificate No.: 2020
Audit Date: 2018 Financial Statements, 4 March 2019
In 2019: Deloitte Audit s.r.o., Karolínská 654/2, 186 00, Praha
Auditor’s Name: Petr Michalík
Auditor’s Certificate No.: 2020
Audit Date: 2019 Financial Statements, 2 March 2020
In 2020: Deloitte Audit s.r.o., Italská 2581/67, Vinohrady, 120 00, Praha 2
Auditor’s Name: Petr Michalík
Auditor’s Certificate No.: 2020
Audit Date: 2020 Financial Statements, 30 March 2021
Pursuant to Section 17 of Act No. 93/2009 Coll., the auditor was appointed on 7 May 2020
by the Company’s sole shareholder, AQUALIA CZECH, S. L., acting in the capacity of the
General Meeting.
65
Closing Statement
We hereby declare that to the best of our knowledge the Annual Report gives a true and
fair view of the financial position, business activities and results of operations of the
Company for the past reporting period and of the projected financial position, business
activities and results of operations.
In Ostrava on 18 February 2021
Miroslav Kyncl
Vice-Chairman of the Board of Directors
Václav Holeček
Member of the Board of Directors
66
15. THE SUPERVISORY BOARD’S STATEMENT WITH RESPECT TO THE
REGULAR FINANCIAL STATEMENTS FOR THE ACCOUNTING YEAR
2020, ANNUAL REPORT FOR THE ACCOUNTING PERIOD 2020 AND
RESULTS OF THE REVIEW OF THE REPORT ON RELATIONS FOR THE
ACCOUNTING YEAR 2020
In accordance with Clause 24 (2) (a) and (b) in the Articles of Association the Supervisory Board
reviewed the regular financial statements for the accounting period 2020. Results of the review were
discussed by the Supervisory Board at its meeting on 26 February 2021.
The Supervisory Board confirms the following:
1. The Supervisory Board discussed and reviewed the regular financial statements for the
accounting period 2020. No facts have been revealed when reviewing the regular financial
statements which would suggest that some data included in the financial statements for the
accounting period 2020 might be incorrect or incomplete.
2. No conflict has been revealed between SmVaK’s activities and generally binding legal
regulations, Articles of Associations and/or resolutions adopted by the General Meeting.
3. The Supervisory Board has not identified any case where the Board of Directors would be
acting contrary to law, Articles of Association or resolutions adopted at the General Meeting.
4. The Report on Relations was correctly drafted and signed and is in line with provisions of the
Act on Business Corporations (§ 82). Information in the Report is based on information about
the related persons which is a part of the regular financial statements for the accounting period
2020.
Considering the findings above, the Supervisory Board submits at the General Meeting in
line with provisions of the Clause 447 (3) of the Act 90/2012 Co., this statement and
recommends that the General Meeting should approve the regular final financial statements
for the accounting period 2020.
Ostrava, 26 February 2021
Lukáš Ženatý
Chairman of the Supervisory Board
72
17. POST BALANCE SHEET EVENTS
No events occurred subsequent to the balance sheet date that would be material for
fulfilling the purpose of the annual report.
18. APPROVAL OF THE FINANCIAL STATEMENTS
The financial statements were approved by the Board of Directors for publication on
18 February 2021.
Miroslav Kyncl
Vice-Chairman of the Board of Directors
Václav Holeček
Member of the Board of Directors
Anatol Pšenička
Managing Director
Halina Studničková
Finance Director
73
FINANCIAL STATEMENT
including an attachement 2020
1. STATEMENT OF FINANCIAL POSITION AS OF 31 DECEMBER 2020
As of
As of
Note
31 December 2020
31 December 2019
In CZK thousand
In CZK thousand
Assets (In CZK thousand)
TOTAL ASSETS
8,954,077
8,748,213
Non-current assets
8,099,526
7,805,389
Intangible assets
4.1.1.
54,752
48,567
Property, plant and equipment
4.1.2.
7,687,581
7,445,698
Assets held for sale
4.1.2.
4,376
0
Right-of-use assets
4.1.3.
352,817
311,124
Current assets
854,551
942,824
Inventories
4.2.1.
16,423
15,878
Other receivables
4.2.2.
27,193
26,320
Unbilled water and sewage charges
4.2.3.
249,197
246,667
Trade receivables
4.2.4.
98,463
96,983
Cash and bank
4.2.5.
463,275
556,976
As of
As of
31 December 2020
31 December 2019
In CZK thousand
In CZK thousand
EQUITY & LIABILITIES (In CZK thousand)
TOTAL EQUITY & LIABILITIES
8,954,077
8,748,213
Equity
1,932,314
1,815,679
Share capital
4.3.
1,296,909
1,296,909
Retained earnings
635,405
518,770
Non-current liabilities
6,293,747
6,210,194
Provisions
4.4.
29,312
17,011
Lease liabilities
4.6.
315,674
275,785
Bank loans and bonds issued
4.8.
5,381,539
5,369,282
Deferred tax liability
4.9.2.
567,222
548,116
Current liabilities
728,016
722,340
Provisions
4.4.
4,589
6,433
Trade and other payables
4.5.
628,792
604,545
Lease liabilities
4.6.
28,882
21,173
Bank loans and bonds issued
4.8.
64,575
64,575
Value added tax liability
4.10.
0
8,991
Income tax liability
4.11.
1,178
16,623
74
2. STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER
2020
Year ended
Year ended
Note
31 December
2020
31 December
2019
In CZK
thousand
In CZK
thousand
Income from water and sewage charges
4.11.
2,571,437
2,503,692
Other operating income
4.12.
96,104
101,680
Consumed materials and energy
4.13.
(494,654)
(497,298)
Personnel expenses
4.14.
(531,486)
(508,058)
Depreciation and amortisation
4.1.1., 4.1.2. and
4.1.3.
(443,652)
(509,661)
Other operating expenses
4.15.
(515,920)
(472,367)
Charge for and release of provisions and
temporary impairment of assets
4.16.
(15,993)
18,921
Income from operating activities
665,836
636,909
Interest and other financial income
4.17.
652
1,103
Interest and other finance costs
4.17.
(165,136)
(164,078)
Loss on financial transactions
4.17.
(164,484)
(162,975)
Income before income taxes
501,352
473,934
Income taxes
4.9.
(96,831)
(94,438)
Net income
404,521
379,496
Comprehensive income, net of tax,
attributable to the Company’s owners
404 521
379 496
Earnings per share (CZK):
3.16.
Basic
116.97
109.73
Diluted
116.97
109.73
75
3. STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED
31 DECEMBER 2020
Share
capital
Retained
earnings
Total
equity
In CZK thousand
In CZK
thousand
In CZK
thousand
Balance at 1 January 2018
1,296,909
429,782
1,726,691
Payment of dividends pursuant to the General
Meeting’s decision of 21 May 2019
0
(290,508)
(290,508)
Profit or loss for 2019
0
379,496
379,496
Comprehensive income for 2019
0
379,496
379,496
Balance at 31 December 2019
1,296,909
518,770
1,815,679
Payment of dividends pursuant to the General
Meeting’s decision of 7 May 2020
0
(293,665)
(293,665)
Time-barred unpaid profit shares
0
2,027
2,027
Time-barred unpaid share capital
0
3,128
3,128
Time-barred unpaid reserve fund
0
624
624
Profit or loss for 2020
0
404,521
404,521
Comprehensive income for 2020
0
404,521
404,521
Balance at 31 December 2020
1,296,909
635,405
1,932,314
76
4. STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020
Year ended
Year ended
31 December
2020
31 December
2019
In CZK
thousand
In CZK
thousand
Cash as of 1 January
556,976
561,357
Cash flows from principal profit-making (operating)
activity
Profit on ordinary activities before taxation
501,352
473,934
Non-cash adjustments
619,910
649,540
Depreciation and amortisation
443,652
509,661
Changes in temporary impairment of assets and provisions
15,993
(18,921)
(Profit)/ Loss on disposal of property, plant and equipment
(2,360)
(2,061)
Interest expense and interest income
150,368
148,951
Adjustments for other non-cash transactions
12,257
11,910
Net cash from operating activities before changes in
working capital
1,121,262
1,123,474
Change in working capital
(17,360)
13,156
Change in receivables and in prepaid expenses and
unbilled revenue
(10,420)
35,470
Change in payables and in accruals and deferred income
(6,335)
(20,674)
Change in inventories
(605)
(1,640)
Net cash from operating activities before taxation
1,103,902
1,136,630
Interest paid
(141,750)
(141,750)
Interest on leases
(9,244)
(8,290)
Interest received
626
1,089
Income tax paid on ordinary activities
(93,168)
(66,488)
Net cash flows from operating activities
860,366
921,191
Purchase of property, plant and equipment
(638,787)
(616,868)
Proceeds from sale of property, plant and equipment
2,352
1,984
Borrowings and loans to related parties
0
0
Net cash flows used in investing activities
(636,435)
(614,884)
Payments of lease liabilities
(23,967)
(20,180)
Dividends paid
(293,665)
(290,508)
Net cash flows used in financing activities
(317,632)
(310,688)
Net increase/(decrease) in cash
(93,701)
(4,381)
Cash as of 31 December
463,275
556,976
77
5. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
CONTENTS
1. general information ..........................................................................................................................79
1.1. FORMATION AND DESCRIPTION OF THE COMPANY ...............................................................79
1.2. COMPANY ORGANISATIONAL STRUCTURE .............................................................................79
1.3. GROUP STRUCTURE ..................................................................................................................79
2. adoption of new and revised international financial reporting standards .....................................80
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ...................................................................82
3.1. INTANGIBLE ASSETS .................................................................................................................82
3.2. PROPERTY, PLANT AND EQUIPMENT .......................................................................................82
3.3. CASH AND CASH EQUIVALENTS ...............................................................................................83
3.4. INVENTORIES .............................................................................................................................83
3.5. RECEIVABLES .............................................................................................................................83
3.6. TRADE PAYABLES ......................................................................................................................84
3.7. BONDS ........................................................................................................................................84
3.8. PROVISIONS ...............................................................................................................................84
3.9. TRANSLATION OF FOREIGN CURRENCIES ..............................................................................84
3.10. LEASES .......................................................................................................................................84
3.11. TAXATION ...................................................................................................................................85
3.12. REVENUE RECOGNITION...........................................................................................................86
3.13. SEGMENT REPORTING ..............................................................................................................86
3.14. FAIR VALUE OF FINANCIAL INSTRUMENTS ..............................................................................87
3.15. BORROWING COSTS ..................................................................................................................87
3.16. EARNINGS PER SHARE AND AMOUNT OF SHARE IN PROFIT.................................................87
3.17. SIGNIFICANT ACCOUNTING ESTIMATES ..................................................................................87
4. additional information on the statement of financial position and statement of comprehensive
income ..............................................................................................................................................88
4.1. NON-CURRENT ASSETS ............................................................................................................88
4.1.1. Intangible assets ........................................................................................................................88
4.1.2. Property, plant and equipment ...................................................................................................89
4.1.3. Right-of-use assets ....................................................................................................................91
4.1.4. Non-current assets held for sale.................................................................................................91
4.2. CURRENT ASSETS .....................................................................................................................91
4.2.1. Inventories .................................................................................................................................91
4.2.2. Other receivables.......................................................................................................................92
4.2.3. Unbilled water and sewage charges ...........................................................................................92
4.2.4. Aging structure of trade receivables ...........................................................................................92
4.2.5. Cash ..........................................................................................................................................92
4.3. EQUITY ........................................................................................................................................93
4.4. PROVISIONS ...............................................................................................................................93
4.5. TRADE AND OTHER PAYABLES.................................................................................................94
78
4.6. LEASE LIABILITIES......................................................................................................................95
4.7. AMOUNTS RELATED TO LEASES FOR THE REPORTING PERIOD ..........................................95
4.8. BANK LOANS AND BONDS ISSUED ...........................................................................................95
4.8.1. Analysis of financial liabilities maturity ........................................................................................96
4.9. INCOME TAXES...........................................................................................................................96
4.9.1. Tax payable ...............................................................................................................................97
4.9.2. Deferred tax ...............................................................................................................................97
4.10. VALUE ADDED TAX LIABILITY ....................................................................................................97
4.11. SALES FROM WATER AND SEWAGE CHARGES ......................................................................97
4.12. OTHER OPERATING INCOME ....................................................................................................98
4.13. CONSUMED MATERIAL AND ENERGY ......................................................................................98
4.14. PERSONNEL EXPENSES ............................................................................................................99
4.15. OTHER OPERATING EXPENSES..............................................................................................100
4.16. CHARGE FOR PROVISIONS AND TEMPORARY IMPAIRMENT OF ASSETS ...........................100
4.17. FINANCE INCOME AND COSTS ...............................................................................................100
4.18. RELATED PARTY TRANSACTIONS ..........................................................................................100
5. financial statements risks ..............................................................................................................104
6. sensitivity analysis .........................................................................................................................105
7. commitments and contingencies...................................................................................................106
8. COVID-19.........................................................................................................................................107
9. Legal disputes ................................................................................................................................107
10. subsequent events .........................................................................................................................112
11. financial statements authorisation ................................................................................................113
79
1. GENERAL INFORMATION
1.1. FORMATION AND DESCRIPTION OF THE COMPANY
Severomoravské vodovody a kanalizace Ostrava a.s. (hereinafter the “Company”) was
incorporated on 1 May 1992. The corporate ID is 45193665. The Company has the
legal status of a joint stock company.
The Company is primarily engaged in the following activities:
- Production and distribution of potable and industrial water;
- Discharge and cleaning of waste water; and
- Civil engineering.
Following the decision of the General Meeting of 23 July 2019 in line with Section 375
et seq. of the Business Corporations Act on the forced transfer of ownership rights to
all participation securities to the majority shareholder, shares were withdrawn from
trading on the multilateral trading system operated by RM-SYSTÉM, česká burza
cenných papírů a.s. with effect from 20 September 2019, based on the decision of the
director of this company no. 8/2019 dated 28 August 2019.
The Company’s registered office is located in Ostrava, 28. října 1235/169, Mariánské
Hory, post code 709 00, the Czech Republic.
The Company’s shareholders as of 31 December 2020 were as follows:
Shareholder
Ownership interest
AQUALIA CZECH S.L.
100%
Total
100%
These financial statements are presented in thousands of Czech crowns
(CZK
thousand), with the exception of earnings per share that are presented in
Czech
crowns.
1.2. COMPANY ORGANISATIONAL STRUCTURE
The Company is organised into four internal organisational units as follows:
1. Company management
1.1. Managing Director
1.2. Finance Director
1.3. Technological Manager
1.4. Organisational and Administration Manager
1.5. International Development
2. Water Supply Manager
3. Sewerage Manager
4. Manager of “Ostravský oblastní vodovod, OOV” (Ostrava Regional Water Supply)
1.3. GROUP STRUCTURE
Entity exercising direct control over the Company:
- AQUALIA CZECH, S.L.
The Company held no equity investments in any other company as of 31 December
2020.
80
2. ADOPTION OF NEW AND REVISED INTERNATIONAL FINANCIAL REPORTING
STANDARDS
In 2020, the Company used the new and revised standards and interpretations
issued
by the International Accounting Standards Board (IASB) and the International
Financial Reporting Interpretations Committee (IFRIC) which apply to its business.
Standards and interpretations effective in the current period
The following amendments to the current standards issued by the IASB and adopted
by the EU are effective in the current period:
Amendments to IAS 1 Presentation of Financial Statements and IAS 8
Accounting Policies, Changes in Accounting Estimates and Errors –
Definition of “material” (effective for annual periods beginning on or after 1
January 2020);
Amendments to IFRS 3 Business Combinations – Definition of a Business
(effective for business combinations for which the acquisition date is on or after the
beginning of the first annual reporting period beginning on or after 1 January 2020
and for asset acquisitions that occur on or after the beginning of that period);
Amendments to IFRS 9 Financial Instruments and IAS 39 Financial
Instruments: Recognition and Measurement and IFRS 7 Financial
Instruments: Disclosures – Interest Rate Benchmark Reform – Phase 1
(effective for annual periods beginning on or after 1 January 2020);
Amendments to IFRS 16 Leases – Covid-19-Related Rent Concessions
(effective for annual periods beginning on or after 1 June 2020, earlier application
is permitted);
Amendments to References to the Conceptual Framework in IFRS
Standards (effective for annual periods beginning on or after 1 January 2020).
The adoption of the above amendments to existing standards resulted in no significant
changes in the Company’s accounting policies.
New standards issued and amendments to existing standards not yet applied by
the Company
At the balance sheet date, the following new standards, amendments to existing
standards and new interpretations were issued but are not yet effective.
IFRS 17 Insurance Contracts including amendments to IFRS 17 (effective for
annual periods beginning on or after 1 January 2023);
Amendments to IFRS 3 Business Combinations – Reference to the
Conceptual Framework with amendments to IFRS 3 (effective for annual periods
beginning on or after 1 January 2022);
Amendments to IFRS 4 Insurance Contracts – Extension of the Temporary
Exemption from Applying IFRS 9 – adopted by the EU on 15 December 2020
(effective for annual periods beginning on or after 1 January 2021);
Amendments to IFRS 9 Financial Instruments, IAS 39 Financial Instruments:
Recognition and Measurement, IFRS 7 Financial Instruments: Disclosures,
IFRS 4 Insurance Contracts and IFRS 16 Leases – Interest Rate Benchmark
81
Reform — Phase 2 – adopted by the EU on 13 January 2021 (effective for annual
periods beginning on or after 1 January 2021);
Amendments to IFRS 10 Consolidated Financial Statements and IAS 28
Investments in Associates and Joint Ventures* - Sale or Contribution of Assets
between an Investor and its Associate or Joint Venture (effective date deferred
until the research project on the equity method has been concluded);
Amendments to IAS 1 Presentation of Financial Statements* –
Classification of Liabilities as Current or Non-Current – Deferral of Effective Date
(effective for annual periods beginning on or after 1 January 2023);
Amendments to IAS 16 Property, Plant and Equipment* – Proceeds before
Intended Use (effective for annual periods beginning on or after 1 January 2022),
Amendments to IAS 37 Provisions, Contingent Liabilities and Contingent
Assets* – Onerous Contracts — Cost of Fulfilling a Contract (effective for annual
periods beginning on or after 1 January 2022),
Amendments to various standards due to “Improvements to IFRSs (cycle
2018–2020)” resulting from the annual improvement project of IFRS (IFRS 1, IFRS
9, IFRS 16 and IAS 41) primarily with a view to removing inconsistencies and
clarifying wording (The amendments to IFRS 1, IFRS 9 and IAS 41 are effective
for annual periods beginning on or after 1 January 2022. The amendment to IFRS
16 only regards an illustrative example, so no effective date is stated.)
* not yet approved for use in the European Union
The Company has elected not to adopt these new standards, amendments to existing
standards and new interpretation in advance of their effective dates. Based on the
Company’s estimates and analyses, the adoption of these standards and amendments
to existing standards will have no material impact on the financial statements of the
Company in the period of initial application.
82
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accompanying financial statements have been prepared in accordance with
International Financial Reporting Standards (“IFRS”) as adopted by the European
Union (EU) under the historical cost convention.
The financial statements comply with the relevant regulations of the Czech Republic
and were authorised by the Board of Directors on 18 February 2021.
3.1. INTANGIBLE ASSETS
Intangible assets acquired separately are reported at cost less accumulated
amortisation and accumulated impairment losses. Amortisation is charged on
a
straight-line basis over their estimated useful lives. The estimated useful life and
amortisation method are reviewed at the end of each annual reporting period, with the
effect of any changes in estimate being accounted for on a prospective basis If the
carrying amount of an asset exceeds its estimated recoverable amount, the
carrying
amount is written down to the recoverable value.
Amortisation of intangible fixed assets is recorded on a straight line basis over their
estimated useful lives as follows:
%
Software
25
Valuable rights
10 – 20
3.2. PROPERTY, PLANT AND EQUIPMENT
Property and plant intended for use in providing services or for administrative
purposes are stated at cost, including costs of acquisition, less accumulated
depreciation and any recognised impairment loss.
The Company’s assets primarily comprise the equipment of water treatment plants,
water pipelines, wastewater treatment plants and sewerage networks.
Depreciation is charged so as to write off the cost of assets, other than land and
assets under construction, over their estimated useful lives, using the straight line
method, on the following basis:
%
Buildings
1 through 5
Manufacturing machinery – machines and equipment
4 through 25
Computers
17 through 25
Motor vehicles
4 through 25
Furniture and fixtures
4 through 12
Tangible fixed assets with a cost between CZK 30,000 and CZK 40,000
25
Water meters
17
Assets held under finance leases are depreciated over their estimated useful lives on
the same basis as owned assets.
The gain or loss arising on the disposal or retirement of an item of property, plant and
equipment is determined as the difference between the sales proceeds and the
carrying amount of the asset at the transaction date and is recognised in profit or loss.
The carrying amount of assets and their useful life are assessed as part of stocktaking
under IAS 36 Impairment of Assets. In line with IAS 36, the Company split its assets
into the following groups which can be considered as independent cash generating
units: water supply, sewerage and other. These groups of assets were reviewed for
impairment based on the following criteria:
83
- External indications: reduction in the market value of a group of
assets, negative changes in the market environment, changes in
the market interest rates, imbalance between the market
capitalisation at the stock exchange and the net assets value in the
books; and
- Internal indications: obsolescence or physical damage, assets
intended to disposal, assets held for sale, assets not generating
sufficient benefits, redundant assets, the method of utilising
assets changed.
The conducted review did not identify any indications of impairment with a group of
assets. Only internal indications of impairment of individual assets were identified.
The impairment of such assets is determined as the difference between the carrying
amount of an asset and its recoverable amount. The recoverable amount is the higher
of the net selling price of the assets and its value in use. This impairment of assets is
recognised in the books through temporary impairment of assets.
3.3. CASH AND CASH EQUIVALENTS
Cash and cash equivalents principally consist of cash on hand and on bank accounts.
Cash and cash equivalents are easily convertible into cash in an amount agreed in
advance and carry a negligible risk of changes in value. The fair value of cash and
cash equivalents does not differ from their carrying amount.
3.4. INVENTORIES
Inventories are stated at the lower of cost and net realisable value. Cost comprises
direct materials and, where applicable, direct labour costs and those overheads that
have been incurred in bringing the inventories to their present condition and location.
Inventory consumption is calculated using the weighted arithmetic average method.
The net realisable value represents the estimated selling price less all estimated costs
of completion and costs to be incurred in marketing, selling and distribution.
3.5. RECEIVABLES
Upon origination, receivables are stated at their fair value, with temporary impairment
of assets subsequently recognised for doubtful and bad debts, calculated according
to the expected credit loss model. Irrecoverable receivables are
written off only after
the completion of the debtor’s composition proceedings. The fair
value of receivables
approximates their carrying amount due to their short maturity.
Temporary impairment of assets is recognised for bad debt based on the ageing
analysis of receivables; to
determine the amount of allowance, a recoverability test is
used.
Temporary impairment of assets is recognised for receivables past due less than 180
days, from 180 to 365 days and by more than
365 days at 6% (2019: 1%), 65%
(2019: 15%) and 99% (2019: 93%) of the nominal value of
the receivable,
respectively.
Temporary impairment of assets is recognised on the above basis because the
differences between
the credit risk associated with individual receivables is minimal.
84
Temporary impairment of assets for receivables
associated with a specific credit risk
(e.g. the debtor is bankrupt) is recognised
based on an individual assessment.
3.6. TRADE PAYABLES
Trade payables are recognised at their fair value. The fair value of payables
approximates their carrying amount due to their short maturity.
3.7. BONDS
The Company issued dematerialised bearer bonds. Bonds issued by the
Company
are traded on the main market of the Prague Stock Exchange. The bond
issue is
initially recognised at fair value less transaction costs within non-current
payables.
Subsequent to initial recognition, the Company measures its issued bonds at
amortised cost
using the effective interest rate.
Accrued interest due in 2021 is recognised in current payables.
3.8. PROVISIONS
The Company recognises a provision when it has a present obligation as a result of
a past event and it is probable that the settlement of the obligation will cause
an outflow
of economic benefits. The Company recognises provisions for the payment of future
employee benefits (e.g. upon
personal anniversaries or retirement), for organisational
changes
and other provisions. Provisions are recorded in the amount of
estimated
costs on the disposal based on the best estimate of the Company’s
management of
expenses incurred in settling the Company’s liability.
Provisions are classified as long-term and short-term. Long-term provisions are
discounted to their present value.
3.9. TRANSLATION OF FOREIGN CURRENCIES
The financial statements of the Company are presented in the currency of the primary
economic environment in which the Company operates (CZK).
Accounting transactions in foreign currencies are recorded at the rates of exchange
prevailing on the dates of the transactions. At each reporting date, cash, receivables
and payables denominated in foreign currencies are retranslated at the rates
prevailing on the reporting date. Non-financial items that are measured in terms of
historical cost in a foreign currency are not retranslated. Exchange differences arising
from the translation are included in the statement of comprehensive income for the
period.
3.10. LEASES
The lessee recognises a right-of-use asset and a lease liability. The right-of-use asset
is treated similarly to tangible fixed assets and depreciated accordingly. The lease
liability is initially measured at the present value of the lease payments payable over
the lease term, discounted at the rate implicit in the lease if that can be readily
determined. If that rate cannot be readily determined, the lessee shall use their
incremental borrowing rate. The initial measurement of lease liabilities includes only
fixed lease payments and variable payments dependent on the development of a rate
or index. Variable rental not dependent on an index or rate is not included in the
measurement of a lease liability and right-of-use asset. This rental is reported in the
statement of comprehensive income under Other operating expenses as an expense
in the period when the event or condition giving rise to these expenses occurs.
85
The Company recognises leased assets as right-of-use assets and related liabilities
as of the date when the leased asset is fit for use. Each lease payment is divided into
the payment of the lease liability and the finance costs. The finance costs are
recognised as part of costs on the line ‘Interest and other finance costs’ over the lease
term and the liability is paid using a constant interest rate on the remaining balance of
the liability in each reporting period.
The Company remeasures the lease liability and performs corresponding adjustments
of the related right-of-use asset, if:
- The lease term has changed;
- The lease payments have changed as a result of a change in the reference index;
and
- The lease contract has been modified.
Assets are first measured based on the present value of lease payments. In addition,
the measurement of these assets includes:
Any lease payments made on or before the commencement date, less any lease
incentives received;
Any initial direct costs; and
Costs of restoring the asset to the condition required at the end of the lease term.
Right-of-use assets, reported in the balance sheet on the line ‘Right-of-use assets’, are
subsequently measured at cost less any accumulated depreciation and any
accumulated impairment losses, and are adjusted for any remeasurement of the lease
liability to reflect any reassessment or lease modifications. Right-of-use assets are
depreciated on a straight-line basis over the shorter of the useful life of the asset or the
lease term.
Payments related to all short-term leases and leases of all low value assets are
recognised on a straight-line basis as an expense in the statement of comprehensive
income under Other operating expenses.
A short-term lease is a lease that has a lease term of 12 months or less.
3.11. TAXATION
The resulting tax amount presented in the statement of comprehensive income
includes the current tax payable and the change in the deferred tax balance.
The tax currently payable is based on taxable profit and the tax base. The tax base
differs from the net profit as reported in the statement of comprehensive income
because it excludes items of income or expense that are taxable or deductible in other
periods and it further excludes items that are never taxable or deductible. The
Company’s liability for current tax is calculated using the tax rate that has been
enacted by the reporting date.
Deferred tax liabilities and assets arising on differences between the carrying amounts
of assets and liabilities in the financial statements and the corresponding tax bases of
these assets and liabilities used in the computation of taxable profit are accounted for
using the balance sheet liability method. Deferred tax liabilities are generally
recognised for all taxable temporary differences while deferred tax assets are
recognised to the extent that it is probable that taxable profits will be available against
which deductible temporary differences can be utilised. For lease contracts where the
Company (Group) is the lessee, temporary differences are determined in aggregate
for the right-of-use asset and the lease liability arising from the contract.
86
The carrying amount of deferred tax assets is reviewed at each reporting date and
reduced to the extent that it is no longer probable that sufficient taxable profit will be
available to allow all or part of the asset to be recovered.
Deferred tax is calculated on the basis of the tax rates that are expected to apply to
the period when the asset is realised or the liability is settled. Like in the previous year,
deferred tax in 2020 was recalculated using the tax rate of 19% applicable in 2021 for
all temporary differences. Deferred tax is charged or credited to the statement of
comprehensive income.
Deferred tax assets and liabilities are offset when there is a legally enforceable right to
set off current tax assets against current tax liabilities and when they relate to income
taxes levied by the same tax office and the Company intends to settle its current tax
assets and liabilities on a net basis.
3.12. REVENUE RECOGNITION
Revenue is measured at the fair value of the consideration received or accrued and
represents amounts for sales of goods and services provided in the normal course of
the Company’s business, net of discounts, value added tax and other sales related
taxes.
The Company reports revenues from contracts with customers if:
- A contract with a customer is identified;
- A performance obligation is identified;
- The price of the transaction is set;
- Transaction prices are allocated to individual performance obligations;
- Revenues are recognised when the performance obligation is fulfilled.
Revenues from water and sewage charges are recognised when potable water is
delivered through pipelines or waste water is drained. Solidarity prices of water and
sewage charges were set in accordance with the valid Assessment of the Ministry of
Finance No. 04/2019 dated 27 June 2019.
Unbilled revenues relating to charges for the water supplies which were performed in
2020 and will be invoiced in 2021 were established by reference to the results of
average meter readings for the previous billing period per one day multiplied by the
number of days when the water supplies were provided from the last meter reading to
31 December 2020. These estimated receivables are reported in the line “Unbilled
water and sewage charges” in the balance sheet.
3.13. SEGMENT REPORTING
The Company treats its operations as one segment in line with IFRS 8 – Operating
Segments. Other operations represent a negligible portion of income and are
treated
as support activities. In terms of geographic segments, the Company operates
in one
region, namely the Moravian-Silesian Region. For income monitoring purposes,
the
region also includes cross-border areas in Poland. Water supplies to Poland
represent 1.9% of total income related to
water and sewage service charges and to
supplied water. None of the Company’s
customers account for more than 10% of
income.
87
3.14. FAIR VALUE OF FINANCIAL INSTRUMENTS
The Company does not own any financial instruments to be measured at fair value
after the initial recognition. The fair value of financial instruments approximates their
carrying amount, unless disclosed otherwise.
3.15. BORROWING COSTS
In general, borrowing costs directly attributable to the acquisition, construction or
production of qualifying assets are capitalised as part of the cost of those assets, until
such time as the assets are substantially ready for their intended use or sale. Any
other borrowing costs are recognised as an expense in the statement of
comprehensive income as incurred. No portion of borrowing costs is currently
attributable to the acquisition of property, plant and equipment and, accordingly, no
such costs are eligible for capitalisation.
3.16. EARNINGS PER SHARE AND AMOUNT OF SHARE IN PROFIT
The calculated values of the basic and diluted earnings per share are equal. The
earnings per share were calculated as follows:
(CZK thousand, earnings per share and amount of dividend in CZK)
2020
2019
Profit for the period
404,521
379,496
Average number of shares for the period
3,458,425
3,458,425
Earnings per share (both basic and diluted)
116.97
109.73
Share in profit per share
To be decided by the General
Meeting
84.91
The dividend policy is subject to decisions of the Company’s bodies as part of the
allocation of the Company’s profit for the particular period.
3.17. SIGNIFICANT ACCOUNTING ESTIMATES
In the application of the accounting policies the directors are required to make
judgments, estimates and assumptions about the carrying amounts of assets and
liabilities that are not readily apparent from other sources. The estimates and
associated assumptions are based on historical experience and other factors that are
considered to be relevant. Actual results may differ from these estimates. The
estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the period in which the estimate is revised if
the revision affects only that period or in the period of the revision and future periods if
the revision affects both current and future periods.
Unbilled water and sewerage charges are estimated based on measurements made
in prior periods and other factors that are considered to be relevant. The real values
may differ from the estimated income from water and sewerage charges. Estimates
and assumptions are reviewed on a regular basis.
88
4. ADDITIONAL INFORMATION ON THE STATEMENT OF FINANCIAL POSITION
AND STATEMENT OF COMPREHENSIVE INCOME
4.1. NON-CURRENT ASSETS
4.1.1. Intangible assets
Software
Patents and
similar
rights
Intangibles
in progress
Total
(CZK
thousand)
(CZK
thousand)
(CZK
thousands)
(CZK
thousand)
COST
31 December 2018
231,171
26,890
16,660
274,721
Additions
10,119
6,127
13,999
30,245
Disposals
(1,848)
(3,717)
(16,247)
(21,812)
31 December 2019
239,442
29,300
14,412
283,154
Additions
9,152
6,525
18,163
33,840
Disposals
(101)
0
(15,677)
(15,778)
31 December 2020
248,493
35,825
16,898
301,216
ACCUMULATED
AMORTISATION
31 December 2018
(217,895)
(9,024)
0
(226,919)
Amortisation for the year
(12,155)
(1,078)
0
(13,233)
Eliminated upon disposal
1,848
3,717
0
5,565
31 December 2019
(228,202)
(6,385)
0
(234,587)
Amortisation for the year
(10,622)
(1,356)
0
(11,978)
Eliminated upon disposal
101
0
0
101
31 December 2020
(238,723)
(7,741)
0
(246,464)
NET BOOK VALUE
31 December 2018
13,276
17,866
16,660
47,802
31 December 2019
11,240
22,915
14,412
48,567
31 December 2020
9,770
28,084
16,898
54,752
In 2020 and 2019, the Company purchased intangible assets charged to expenses
totalling CZK 155 thousand and CZK 253 thousand, respectively.
The increase in the value of intangible assets resulted primarily from the Monet
software extensions and easements.
In 2020 and 2019, the Company recognised amortisation charges of CZK
11,978 thousand and CZK 13,233 thousand, respectively, in the statement of
comprehensive income.
No impairment was recognised against intangible assets as of 31 December 2020.
89
4.1.2. Property, plant and equipment
Land
Buildings
Machinery
and
equipment
Other
assets
Tangibles in
progress
including
advances
Total
(CZK
thousand)
(CZK
thousand)
(CZK
thousand)
(CZK
thousand)
(CZK
thousand)
(CZK
thousand)
COST
31 December 2018
156,051
13,594,695
2,470,592
867
326,918
16,549,123
Transfer to right-of-use assets
0
(37,340)
(75,531)
0
0
(112,871)
Additions
8,948
414,906
114,006
0
657,131
1,194,991
Disposals
(160)
(24,555)
(41,115)
0
(549,289)
(615,119)
31 December 2019
164,839
13,947,706
2,467,952
867
434,760
17,016,124
Transfer to assets held for sale
0
(14,351)
(2,541)
0
0
(16,892)
Additions
1,764
380,257
104,934
0
713,138
1,200,093
Disposals
(247)
(7,095)
(42,893)
0
(539,436)
(589,671)
31 December 2020
166,356
14,306,517
2,527,452
867
608,462
17,609,654
ACCUMULATED
DEPRECIATION INCLUDING
IMPAIRMENT
31 December 2018
0
(7,239,131)
(1,945,469)
0
0
(9,184,600)
Transfer to right-of-use assets
0
15,442
21,860
0
0
37,302
Depreciation during the year
0
(384,546)
(90,913)
0
0
(475,459)
Eliminated upon disposal
0
23,187
41,115
0
0
64,302
31 December 2019
0
(7,585,048)
(1,973,407)
0
0
(9,558,455)
Transfer to assets held for sale
0
7,112
2,382
0
0
9,494
Depreciation during the year
0
(313,022)
(90,118)
0
0
(403,140)
Eliminated upon disposal
0
6,652
32,265
0
0
38,917
31 December 2020
0
(7,884,306)
(2,028,878)
0
0
(9,913,184)
Impairment as of
31 December 2018
(201)
(17,151)
(379)
0
0
(17,731)
Additions
0
0
0
0
0
0
Use
201
5,438
121
0
0
5,760
Impairment as of
31 December 2019
0
(11,713)
(258)
0
0
(11,971)
Transfer to assets held for sale
0
2,944
78
0
0
3,022
Additions
0
(5)
0
0
0
(5)
Use
0
0
65
0
0
65
Impairment as of
31 December 2020
0
(8,774)
(115)
0
0
(8,889)
NET BOOK VALUE
31 December 2018
155,850
6,338,413
524,744
867
326,918
7,346,792
31 December 2019
164,839
6,350,945
494,287
867
434,760
7,445,698
31 December 2020
166,356
6,413,437
498,459
867
608,462
7,687,581
As of 31 December 2020 and 2019, the Company reported advances of CZK 8,150
thousand and
CZK 7,741 thousand, respectively, for the acquisition of property, plant
and equipment.
As of 31 December 2020 and 2019, the Company recognised temporary impairment
of CZK 11,911 thousand and CZK 11,971 thousand, respectively, for idle property,
90
plant
and equipment which cannot be used in the future. This temporary impairment
was mainly recognised for buildings.
The change in temporary impairment is presented in the line “Charge for and release
of provisions and temporary impairment of assets” in the statement of comprehensive
income.
In 2020 and 2019, property, plant and equipment charged to expenses totalled
CZK
10,499 thousand and CZK 9,448 thousand, respectively. Such assets consist of
low
value tangible assets, i.e. other movables and sets of movables with a useful life
greater than one year which are not included in property, plant and equipment.
In 2020 and 2019, the Company recognised depreciation charges of
CZK 403,140
thousand and CZK 475,459 thousand, respectively, in the statement of
comprehensive income.
The increase in the balance of property, plant and equipment resulted primarily from
the acquisition of new assets as part of water main and sewer system line
reconstructions, renovation of premises and from new technologies for water treatment
plants.
The net book value of property, plant and equipment as of 31 December 2020 and
2019 also includes the net book value of CZK 211,118 thousand and
CZK 226,026
thousand, respectively, of assets contributed by municipalities to the
Company’s
equity (in 1998 and 1999).
All the Company’s applications for the entry of ownership rights in the real estate
register were duly registered as of 31 December 2020.
Grants received
In 2020, the Company received no grants to finance the acquisition of non-current
assets. Grants received in the past are presented as a reduction of the acquisition
price of the Company’s assets. Depreciation charges in 2020 are lower with respect to
the lowered acquisition cost due to the received grant in the amount of CZK 9,440
thousand (2019: CZK 9,440 thousand).
Non-current assets pledged as security
The Company did not have any assets pledged as security as of 31 December 2020.
91
4.1.3. Right-of-use assets
The statement of financial position shows a separate item for right-of-use assets,
including:
(CZK thousand)
31 Dec 2020
31 Dec 2019
Assets – right-of-use assets (by asset class)
Buildings and structures
264,331
234,856
Cars
75,719
61,092
Other
12,767
15,176
Total
352,817
311,124
(CZK thousand)
Buildings and
structures
Cars
Other
Total
Balance at 1 Jan 2019 – IFRS 16
243,948
49,905
21,899
315,752
Additions – new lease contracts
0
24,968
0
24,968
Lease contract termination
0
(249)
(8,378)
(8,627)
Depreciation
(9,092)
(13,532)
1,655
(20,969)
Balance at 31 Dec 2019 – IFRS 16
234,856
61,092
15,176
311,124
Additions – new lease contracts
41,124
41,124
31,741
0
Lease contract termination
0
(60)
(2,578)
(2,638)
Depreciation
(11,649)
(17,054)
169
(28,534)
Balance at 31 Dec 2020 – IFRS 16
264,331
75,719
12,767
352,817
The Company leases real estate (office building), cars and infrastructure assets. The
leases are arranged on an individual basis and include a wide range of terms and
conditions (including rights to termination and extension).
The primary features of leases are summarised below:
An administrative building is leased for a period of 20 years with the possibility of
contract extension. Lease payments are increased in accordance with a defined
pattern;
Storm water basin in Karviná is leased for 10 years;
Cars are leased for a fixed period of 3 – 6 years; and
Infrastructure assets, used by the Company under operation agreements, for
which preliminary agreements on future purchase contracts have been concluded.
4.1.4. Non-current assets held for sale
On 23 July 2020, the Company’s Board of Directors decided to sell Nová Ves,
Bystřička, Lučina, Trojanovice resorts and Nová Ves cabin.
CZK thousand)
Resort name
Amortised cost at 31 Dec 2020
Nová Ves
1,942
Bystřička
16
Lučina
409
Trojanovice
2,009
Cabin in Nová Ves
0
Total
4,376
4.2. CURRENT ASSETS
4.2.1. Inventories
In 2020 and 2019, temporary impairment recognised for idle inventories totalled CZK
212 thousand and
CZK 152 thousand, respectively. Inventories are principally
92
composed of chemical products
and low value water supply parts in stock.
Consumed inventories for 2020 and 2019 presented within consumed materials and
energy (including water and chemicals) were CZK 125,875 thousand and CZK 122,169
thousand, respectively.
4.2.2. Other receivables
(CZK thousand)
Balance at
31 Dec 2020
Balance at
31 Dec 2019
Other receivables
Other receivables
19,845
18,451
Prepaid expenses
7,348
7,869
Total current receivables
27,193
26,320
Other receivables primarily include advances for rental charges relating to the
operation of leased infrastructure assets and a receivable arising from the value added
tax.
4.2.3. Unbilled water and sewage charges
The policy for calculating these balances (which totalled CZK 249,197 thousand and
CZK 246,667 thousand as of 31 December 2020 and 2019, respectively) is disclosed
in Note 3.12.
4.2.4. Aging structure of trade receivables
(CZK thousand)
Year
Category
Before
due
Overdue
Total
past
due
Total
0 - 90
days
91 - 180
days
181 – 360
days
1 - 2
years
2 years
and more
31 Dec 2020
Gross
83,766
17,039
964
1,096
2,802
9,828
31,729
115,495
Impairment
0
(2,739)
(779)
(1,013)
(2,776)
(9,725)
(17,032)
(17,032)
Net
83,766
14,300
185
83
26
103
14,697
98,463
31 Dec 2019
Gross
74,296
21,154
816
758
2,360
9,095
34,183
108,479
Impairment
0
(212)
(8)
(381)
(2,271)
(8,624)
(11,496)
(11,496)
Net
74,296
20,942
808
377
89
471
22,687
96,983
2020
Year-on-year
effects of
impairment
0
2,527
771
632
505
1,101
5,536
5,536
Impairment of overdue receivables is recognised based on a recoverability test as
follows:
(CZK thousand)
Receivables past their due dates
Balance at 31 Dec 2020
Balance at 31 Dec 2019
Rate
Impairment
Rate
Impairment
More than 365 days
99%
12,501
93%
10,895
180 - 365 days
65%
1,013
15%
381
Less than 180 days
6%
3,518
1%
220
Total
17,032
11,496
4.2.5. Cash
(CZK thousand)
Balance at 31 Dec 2020
Balance at 31 Dec 2019
Cash and cash equivalents
Cash on hand
416
407
Cash at bank
462,859
556,569
Total current financial assets
463,275
556,976
93
The above balances of current financial assets are presented as the closing balances
of cash and cash equivalents in the cash flow statement.
4.3. EQUITY
Equity consists of share capital and retained earnings.
The Company’s fully paid share capital of CZK 1,296,909 thousand is composed of
3,037,040 registered shares with a nominal value of CZK 375 and 421,385 bearer
shares with a nominal value of CZK 375.
The 2019 profit after tax totalling CZK 379,496 thousand was approved and distributed
by the resolution of the sole shareholder of the Company on 7 May 2020 as follows:
(CZK thousand)
2020
Profit for 2019
379,496
Profit shares
293,665
Profit allocated to retained earnings
85,831
The Company monitors its capital structure using the total debt ratio set as net debt
to the sum of equity reflecting the share capital recorded as of 31 December 2019 and
net debt. As of 31 December 2020 and 2019, the total debt
ratio was 76% and 76%,
respectively, as disclosed in the table below.
(CZK thousand)
Balance at 31 Dec 2020
Balance at 31 Dec 2019
Bank loans and bonds issued
5,446,114
5,433,857
Trade payables and other payables
973,348
901,503
Cash on hand and cash at bank
(463,275)
(556,976)
Net debt
5,956,187
5,778,384
Equity
1,932,314
1,815,679
Equity + net debt
7,888,501
7,594,063
Total debt ratio
75.50%
76.09%
4.4. PROVISIONS
(CZK thousand)
Provision for
employee benefits
Other provisions
Total provisions
Balance at 31 Dec 2018
26,016
11,136
37,152
Additions
3,137
0
3,137
Use
(5,709)
(11,136)
(16,845)
Balance at 31 Dec 2019
23,444
0
23,444
Additions
13,053
0
13,053
Use
(2,596)
0
(2,596)
Balance at 31 Dec 2020
33,901
0
33,901
The provision for employee benefits is created for retirement and anniversary
bonuses. The amount of the provision is determined with reference to the Collective
Agreement and respects the age structure of employees, the likelihood of the drawing
of these benefits for individual employees or groups of employees, and reflects the
time value of money.
No other provisions were recognised in 2020.
The provisions are classified as long-term and short-term in the accompanying
statement of financial position based upon the anticipated period of their realisation.
(CZK thousand)
94
Provision for
employee benefits
Other provisions
Total provisions
Balance at 31 Dec 2019
23,444
0
23,444
Short-term portion
6,433
0
6,433
Long-term portion
17,011
0
17,011
(CZK thousand)
Provision for
employee benefits
Other provisions
Total provisions
Balance at 31 Dec 2020
33,901
0
33,901
Short-term portion
4,589
0
4,589
Long-term portion
29,312
0
29,312
4.5. TRADE AND OTHER PAYABLES
(CZK thousand)
31 December 2020
31 December 2019
Current trade and other payables
Trade balances
530,193
500,598
Payables to employees
34,944
39,788
Payables related to social security and health insurance
14,116
14,268
Other current payables
49,539
49,891
Total current trade and other payables
628,792
604,545
The Company reported no overdue trade payables as of 31 December 2020(as of 31
December 2019: CZK 0).
Other current payables as of 31 December 2020 and 2019 include particularly
payables related to fees for the consumption of underground water and fees for
pollution of waste water in the aggregate amount of CZK 19,506 thousand and CZK
10,661 thousand, respectively. As of 31 December 2020, other current payables
include payables to shareholders
in the amount of CZK 540 thousand (CZK 6 million
as of 31 December 2019).
95
4.6. LEASE LIABILITIES
(CZK thousand)
Minimum lease payment
Present value of minimum
lease payment
As of
31 Dec 2020
As of
31 Dec 2019
As of
31 Dec 2020
As of
31 Dec 2019
Due within one year
38,147
29,380
28,882
21,173
Due from 2 to 5 years
126,298
98,355
100,253
71,257
Due after 5 years
282,592
270,688
215,421
204,528
Total
447,037
398,423
344,556
296,958
Less outstanding financial liabilities (interest)
102,481
101,465
0
0
Less payables due within one year
(presented within short-term payables)
28,882
21,173
28,882
21,173
Payables due after one year
315,674
275,785
315,674
275,785
Total lease liabilities
344,556
296,958
344,556
296,958
In 2020, the Company recorded liabilities arising from the lease of an administrative
building, infrastructure assets, liabilities arising from lease contracts entered into in
connection with the acquisition of new cars and a liability arising from leases acquired
on the basis of operations contracts for water management assets of towns and
municipalities.
The present value of liabilities arising from the lease of an administrative building was
CZK 234,719 thousand and CZK 234,610 thousand as of 31 December 2020 and
2019, respectively.
The present value of liabilities arising from contracts entered into with lease companies
for the acquisition of new cars was CZK 77,133 thousand and CZK 62,109 thousand
as of 31 December 2020 and 2019, respectively.
The present value of liabilities arising from the lease of infrastructure assets amounted
to CZK 32,523 thousand and CZK 0 as of 31 December 2020 and 2019, respectively.
The present value of liabilities arising from operations contracts for water management
assets of towns and municipalities was CZK 182 thousand and CZK 239 thousand as
of 31 December 2020 and 2019, respectively.
4.7. AMOUNTS RELATED TO LEASES FOR THE REPORTING PERIOD
The following amounts are reported in the statement of comprehensive income and
the cash flow statement:
(CZK thousand)
2020
2019
Depreciation of right-of-use assets by asset class
Buildings and structures
11,649
9,092
Car
17,054
13,532
Other
(169)
(1,655)
Total depreciation
28,534
20,969
Interest expense on lease liabilities (included in finance costs)
9,244
8,290
Costs related to variable lease payments not included in lease
liabilities representing rental paid based on actually acquired m³
during the year
31,500
30,853
Total costs related to leases
69,278
60,112
(CZK thousand)
Cash expenses for leases
2020
2019
Variable lease payments
31,500
30,853
Fixed lease payments
32,257
28,470
96
4.8. BANK LOANS AND BONDS ISSUED
The Company did not report any payables from loans as of 31 December 2020.
On 17 July 2015, the Company issued bonds of CZK 5,400,000 thousand which were
accepted for trading on the principal market of the Prague Stock Exchange. The
bond
issue is recognised at amortised cost. The costs associated with the issue
settled
during 2015 in the amount of CZK 81,258 thousand are included in the effective interest
rate of 2.865% p.a. The bonds bear fixed interest at 2.625% p.a. The expenses relating
to the issue are included in the effective interest rate.
As of 31 December 2020, the amortised cost of the bonds reported under long-term
payables amounts to CZK 5,381,539 thousand (31 December 2019: CZK 5,369,282
thousand).
The fair value of bonds using the model of the coupon-free yield curve and interest
rate
risk mark-up is CZK 5,521,254 thousand and CZK 5,374,825 thousand as of 31
December 2020 and 2019, respectively.
Current payables from bank loans and bonds issued include interest on bonds of
CZK 64,575 thousand which relates to 2020 but is due in 2021(in 2019: CZK 64,575
thousand).
4.8.1. Analysis of financial liabilities maturity
The following table details the Company’s remaining contractual maturity for its
financial liabilities. The table has been drawn up based on the undiscounted cash flows
of financial liabilities based on the earliest dates on which the Company can be
required to pay. The table includes both interest and principal cash flows.
(CZK thousand)
As of 31 Dec 2020
Interest rate
Less than 1
year
2 – 5
years
Over
5 years
Trade and other payables
0
628,792
0
0
Lease liabilities
5,5
18,008
53,353
3,481
Lease liabilities
2.865
10,874
46,899
211,941
Bonds in the nominal value of CZK 5.4
billion with the effective interest rate of
2.865
141,750
5,470,875
0
Total
799,424
5,571,127
215,422
Fair value measurement
Bonds are classified in Level 3 in the fair value hierarchy, the reason being that their
fair value is calculated using a valuation model. The fair value is calculated as equal
to the present value of future cash flows arising from the holding of the bond. The
discount rates included in the calculation are derived from a market coupon-free yield
curve adjusted for the credit spread for the issuer’s credit risk.
As of 31 December 2020, the Company did not hold any financial instruments with fair
value not corresponding to their carrying value, except for bonds described in Note 4.8.
above.
4.9. INCOME TAXES
(CZK thousand)
31 December 2020
31 December 2019
Income tax due
77,724
89,520
Income tax deferred
19,107
4,918
Total
96,831
94,438
97
The tax payable as of 31 December 2020 amounts to CZK 77,724 thousand
(31 December 2019: CZK 89,520 thousand). Prepayments for 2020 amounted to CZK
77,829 thousand (prepayments for 2019: CZK 67,611 thousand). As of 31 December
2020, the Company records an income tax payable in the amount of CZK 1,178
thousand (as of 31 December 2019: an income tax payable of CZK 16,623 thousand).
4.9.1. Tax payable
The annual tax liability can be reconciled to income as per the statement of
comprehensive income as follows:
(CZK thousand)
2020
2019
Profit before tax
501,352
473,934
Current year tax rate
19%
19%
Tax based on the Czech Republic’s statutory income tax rate
95,057
90,047
Tax non-deductible expense and income (net)
2,857
(895)
Current period income tax
98,114
89,152
Income tax of prior years
(1,283)
5,286
Total income tax
96,831
94,438
Effective tax rate
19.31%
19.93%
4.9.2. Deferred tax
As of 31 December 2020, deferred tax was determined in compliance with the Income
Taxes Act, reflecting the applicable tax rates. The deferred tax liability is calculated
from all temporary differences arising between the carrying amounts and tax values of
assets and liabilities at the rate of 19%. In 2019, deferred tax was also calculated
using the 19% rate.
Deferred tax recorded in the statement of comprehensive income amounted to
CZK
19,107 thousand and CZK 4,918 thousand in the years ended 31 December 2020 and
2019, respectively.
The deferred tax liability is analysed as follows:
Deferred tax arising from:
(CZK thousand)
31 December 2020
31 December 2019
Rate in %
Rate in %
Difference between tax and carrying amounts
of non-current assets
(570,966)
19.0
(551,175)
19.0
Temporary impairment of non-current assets
2,242
19.0
2,274
19.0
Temporary impairment of inventories
40
19.0
29
19.0
Temporary impairment of receivables
1,134
19.0
195
19.0
Outstanding insurance premium
328
19.0
561
19.0
Total
(567,222)
(548,116)
4.10. VALUE ADDED TAX LIABILITY
The Company recorded a VAT receivable from the state of CZK 2,339 thousand as
of 31 December 2020 (2019: payable of CZK 8,992 thousand).
4.11. INCOME FROM WATER AND SEWAGE CHARGES
(CZK thousand)
Year ended
31 December 2020
Year ended
31 December 2019
In-
country
Cross-
border
Total
In-country
Cross-
border
Total
Production and distribution of potable
water
1,535,734
49,513
1,585,247
1,512,907
38,830
1,551,737
98
Draining and cleaning of waste water
954,490
0
954,490
922,729
0
922,729
Related services
31,700
0
31,700
29,226
0
29,226
Total
2,521,924
49,513
2,571,437
2,464,862
38,830
2,503,692
4.12. OTHER OPERATING INCOME
(CZK thousand)
Year ended
31 December 2020
Year ended
31 December 2019
Income from construction work
69,293
72,083
Rental income
10,989
11,042
Gains from the sale of assets and materials, net
2,359
2,060
Other operating income
(compensation from insurance companies,
compensation for mining damage, etc.)
13,463
16,495
Total
96,104
101,680
4.13. CONSUMED MATERIAL AND ENERGY
(CZK thousand)
Year ended
31 December 2020
Year ended
31 December 2019
Consumption of water, materials and chemicals
431,278
430,689
Gas, electricity and heat
80,129
81,212
“Green bonus” – support of electricity production
(16,753)
(14,603)
Total
494,654
497,298
The Company uses renewable sources for the production of electricity from biogas in
waste water treatment plants. In 2008, the Company concluded a contract with the
distributor of energy, ČEZ Distribuce a.s., for the support to the production of
electricity
without the use of the distribution network of the operator, based on which
the
Company receives a green bonus for the produced amount of electricity. The
green
bonus amounted to CZK 16,753 thousand and CZK 14,603 thousand in the
years ended 31 December 2020 and 2019, respectively, and was recognised in the
statement of
comprehensive income as a decrease in the costs of energy consumption.
99
4.14. PERSONNEL EXPENSES
2020
(CZK thousand)
Headcount
Payroll
costs
Social security
and health
insurance
Other
costs
Total
personnel
expenses
Staff
859
364,651
122,786
18,859
506,296
Management
7
15,599
5,304
42
20,945
Total
866
380,250
128,090
18,901
527,241
Board of Directors, Supervisory Board
and Audit Committee members
30
0
1,077
3,168
4,245
Total
896
380,250
129,167
22,069
531,486
2019
(CZK thousand)
Headcount
Payroll
costs
Social security
and health
insurance
Other
costs
Total
personnel
expenses
Staff
848
349,551
118,901
16,716
485,168
Management
7
14,460
4,169
124
18,753
Total
855
364,011
123,070
16,840
503,921
Board of Directors, Supervisory Board
and Audit Committee members
27
0
1,050
3,087
4,137
Total
882
364,011
124,120
19,927
508,058
Other costs also include expenses of pension insurance of employees, the substance
of which represents a retirement benefit scheme with a fixed contribution. Except for
the due contributions, no other obligations arise for the Company from the scheme.
Loans, borrowings and other benefits provided
In 2020, members of the Board of Directors, Supervisory Board and management
received the following bonuses and other remuneration reported as other personnel
costs in excess of their basic
salaries:
2020
(CZK thousand)
Board of
Directors
Supervisory
Board, Audit
Committee
Management
Remuneration for Board positions
1,188
1,980
0
In-kind and other income (bonuses on the basis of
collective bargaining agreement, company cars used for
private purposes)
0
221
821
2019
(CZK thousand)
Board of
Directors
Supervisory
Board, Audit
Committee
Management
Remuneration for Board positions
1,188
1,899
0
In-kind and other income (bonuses on the basis of
collective bargaining agreement, company cars used for
private purposes)
0
396
798
100
4.15. OTHER OPERATING EXPENSES
(CZK thousand)
Year ended 31 Dec 2020
Year ended 31 Dec 2019
Repairs
217,152
187,490
Travel expenses
6,592
5,793
Representation, promotion
1,194
2,417
Transport
1,258
1,267
Telecommunication
7,069
6,099
Postal charges
7,221
7,185
Advisory, legal services
6,104
5,538
Waste treatment and sludge disposal
31,224
30,234
Rental charges
34,796
34,352
Cleaning, security guards
18,437
17,342
Lab work, expert reports
36,079
36,519
IT services
25,539
21,559
Technical improvement
4,199
4,931
Training
1,514
2,055
Taxes and fees
4,630
4,592
Write-off of receivables
279
841
Write-off of investments in assets
13
467
Damage compensation
226
358
Pollution charges
17,104
8,610
Insurance premium
7,444
5,754
Deductions, call centre
43,892
42,296
Work and services of having material content
11,939
12,324
Other operating expenses
(e.g. other purchased work, sub-deliveries)
32,015
34,344
Total
515,920
472,367
Fee to the Statutory Auditor for the Relevant Period
Auditor
Reported under the cost of
audit in 2020 (in CZK
thousand)
Other services
(in CZK thousand)
Other services -
description
Deloitte Audit s.r.o.
961
Deloitte Advisory s.r.o.
266
Solvency test
4.16. CHARGE FOR PROVISIONS AND TEMPORARY IMPAIRMENT OF ASSETS
(CZK thousand)
Year ended
31 Dec 2020
Year ended
31 Dec 2019
Provisions – year-to-year change
10,457
(13,708)
Temporary impairment of inventories – year-to-year change
60
0
Temporary impairment of assets - year-to-year change
(60)
(5,759)
Temporary impairment of receivables – year-to-year change
5,536
546
Total change in provisions and temporary impairment of assets
15,993
(18,921)
4.17. FINANCE INCOME AND COSTS
(CZK thousand)
Year ended
31 Dec 2020
Year ended
31 Dec 2019
Interest paid
(150,994)
(150,040)
Bank fees paid, exchange rate losses
(14,142)
(14,038)
Total expenses
(165,136)
(164,078)
Interest received and other finance income
652
1,103
Total income
652
1,103
Total, net
(164,484)
(162,975)
4.18. RELATED PARTY TRANSACTIONS
Group companies:
101
FOMENTO DE CONSTRUCCIONES Y CONTRATAS, S.A. is the controlling person of the FCC
Group.
- AQUALIA INTECH, S.A.
- Aqualia infraestructuras inženýring, s.r.o. (majority share of AQUALIA INTECH,
S.A.)
- Vodotech, spol. s r.o. (a subsidiary of AQUALIA INTECH, S.A.)
- FCC aqualia, S.A.
- FCC Česká republika, s.r.o.
- OBSED a.s.
- HIDROTEC, Tecnologia del Agua, S.L.U.
Related party transactions carried out in 2020 and 2019 are presented in the tables
below. These transactions were made on an arm’s length basis.
All of the above-listed companies are included in the FCC Group.
Income generated with related parties
2020
(CZK thousand)
Entity
Relation to the
Company
Services
Interest
Total
Vodotech, spol. s r.o.
Group company
1,501
0
1,501
Aqualia infraestructuras inženýring, s.r.o.
Group company
9,141
0
9,141
FCC Česká republika s.r.o.
Group company
427
0
427
FCC Aqualia, S. A., organizační složka, cz
Group company
12
0
12
Total
11,081
0
11,081
2019
(CZK thousand)
Entity
Relation to the
Company
Services
Interest
Total
Vodotech, spol. s r.o.
Group company
1,120
0
1,120
Aqualia infraestructuras inženýring, s.r.o.
Group company
5,377
0
5,377
FCC Česká republika s.r.o.
Group company
555
0
555
Total
7,052
0
7,052
102
Purchases from related parties
2020
(CZK thousand)
Entity
Relation to the
Company
Services
Other
expenses
Total
Vodotech, spol. s r.o.
Group company
73,592
14
73,606
Aqualia infraestructuras inženýring, s.r.o.
Group company
106,502
0
106,502
Fomento de Construcciones y Contratas, S. A.
Group company
4,288
0
4,288
Aqualia Czech, S. L.
Parent company
3,913
0
3,913
FCC Aqualia, S. A.
Group company
2,926
0
2,926
FCC Česká republika s.r.o.
Group company
3,982
0
3,982
Hidrotec Technologia del Aqua, S. L. U.
Group company
433
0
433
OBSED a. s.
Group company
22,074
0
22,074
Total
217,710
14
217,724
2019
(CZK thousand)
Entity
Relation to the
Company
Services
Other
expenses
Total
Vodotech, spol. s r.o.
Group company
58,395
42
58,437
Aqualia infraestructuras inženýring, s.r.o.
Group company
110,968
0
110,968
Fomento de Construcciones y Contratas, S.A.
Group company
3,756
0
3,756
Aqualia Czech, S.L.
Parent company
3,825
0
3,825
FCC Aqualia, S.A.
Group company
2,838
0
2,838
FCC Česká republika s.r.o.
Group company
3,762
0
3,762
Hidrotec Technologie del Aqua, S.L.U.
Group company
87
0
87
OBSED a.s.
Group company
21,841
0
21,841
Total
205,472
42
205,514
Acquisitions of fixed assets from related parties
(CZK thousand)
Entity
Relation to the
Company
2020
2019
Vodotech, spol. s r.o.
Group company
4,994
6,871
Aqualia infraestructuras inženýring, s.r.o.
Group company
575,869
568,203
FCC Aqualia, S.A.
Group company
0
0
Fomento de Construcciones y Contratas, S.A.
Group company
0
0
FCC Aqualia, S.A., organizační složka, cz
Group company
5,301
5,049
Total
586,164
580,123
Receivables from related parties
(CZK thousand)
Entity
31 December 2020
31 December 2019
Trade receivables
Vodotech, spol. s r.o.
50
92
Aqualia infraestructuras inženýring, s.r.o.
2,163
1,262
FCC Aqualia, S.A., organizační složka, cz
58
32
FCC Česká republika s.r.o.
0
59
Total
2,271
1,445
103
Payables to related parties
(CZK thousand)
Entity
31 December 2020
31 December 2019
Trade payables
Vodotech, spol. s r.o.
10,577
7,512
Aqualia infraestructuras inženýring, s.r.o.
275,149
237,584
FCC Aqualia, S.A.,organizační složka, cz
0
0
Fomento de Construcciones y Contratas, S.A.
484
438
FCC Česká republika s.r.o.
445
356
Hidrotec Technologia del Aqua, S.L.U.
417
87
OBSED a.s.
2,193
2,698
FCC Aqualia, S.A.
239
2,777
Total trade payables
289,504
251,452
Related party transactions were conducted at arm’s length prices charged at the
location of the supply’s provision and for commercial transactions.
Outstanding amounts have not been collateralised and will be settled via bank
transfer. No guarantees were provided or received. No temporary impairment was
recognised for
receivables from related parties.
104
5. FINANCIAL STATEMENTS RISKS
The Company manages its capital structure so as to achieve a long-term stable
financial position while maximising long-term returns for its shareholders.
The nature of the Company's operations exposes the Company to credit, liquidity and
market risks. The market risks are further associated with the currency and interest
rate risks.
Credit risk
Credit risk refers to the risk that counterparty will default on its contractual obligations
resulting in financial loss to the Company. The Company management has adopted a
policy of credit risk management and the level of the risk is monitored. The structure of
trade receivables is highly diversified and the Company does not have any
significant
credit risk exposure to any single counterparty or any group of
counterparties. The
credit risk on liquid funds is limited because the counterparties
are banks with high
credit-ratings.
Currency risk
The Company conducts substantially all of its transactions in Czech crowns and hence
is
not exposed to any significant foreign currency risk.
Interest rate risk
The Company’s principal liability bears a fixed interest rate. The risk of a change in the
fair value is not hedged.
Liquidity risk
The Company has built an appropriate liquidity risk management framework for the
management of the Company’s short, medium and long-term funding. The Company
manages liquidity risk by maintaining adequate reserves and long-term lending
facilities by continuously monitoring forecast and actual cash flows and matching the
maturity profiles of financial assets and liabilities. The Company meets its obligations
as required and on time.
105
6. SENSITIVITY ANALYSIS
Sensitivity to market changes
The Company as a dominant producer and distributor of potable water and a provider
of waste water discharge and treatment services in the Moravian-Silesian Region
periodically
monitors and assesses the situation in the market where it operates. Since
water and
sewerage charges are subject to price regulations and reflect all of the
Company’s
eligible costs, the Company is not significantly sensitive to changes in the
market.
Sensitivity to interest rate changes
As a bond issuer, the Company’s sensitivity to interest rate changes is as follows.
A 1.0 percent increase in the interest rate results in a decrease in the fair value of the
payable arising from the bonds issued in the amount of CZK 82,045 thousand;
unfavourable development represented by a decrease in the interest rate of 1.0 percent
leads to an increase in the fair value of the payable in the amount of
CZK 82,045
thousand.
Currency risk sensitivity
As the Company conducts a vast majority of its transactions in Czech crowns, it is not
sensitive to currency risks.
106
7. COMMITMENTS AND CONTINGENCIES
Issued security bills
To ensure financial stability for the coming years, the Company entered into an
agreement for an amount up to CZK 120,000 thousand with ING Bank N.V., a joint-
stock company established under laws of the Netherlands with its registered office at
Bijlmerplein 888, 1102 MG, no. 33031431, represented in the Czech Republic by ING
Bank N.V., branch Prague, with its registered office at Českomoravská 2420/15, Libeň,
19000 Praha 9, the Czech Republic, ID: 492 79 866., in July 2015. The loan is secured
with a promissory note (a “blank bill”). In 2020, it was used to issue bank guarantees.
Issued bank guarantees
As of 31 December 2020, the Company reported bank guarantees totalling CZK 5,252
thousand (2019: CZK 3,046 thousand). For details of bank guarantees, refer to the
table below:
Date of issue
Issued to the
benefit of
Purpose of issue
Valid from - to
Bank
guarantee
amount
3 September 2020
Associated
municipalities of
the Nový Jičín
region
Operation of water supply
infrastructure – sewage systems of the
Associated municipalities of the Nový
Jičín region
7 Sept 2020 –
31 Dec 2022
CZK
675,000
3 September 2020
Town of
Štramberk
Operation of water supply
infrastructure – sewage system of the
town of Štramberk
7 Sept 2020 –
31 Dec 2021
CZK
50,000
3 September 2020
Horní Suchá
municipality
Selection of an operator for water
supply assets of the Horní Suchá
municipality
7 Sept 2020 –
31 Dec 2021
CZK
150,000
3 September 2020
Town of Orlová
Operation of the infrastructure of the
town of Orlová
7 Sept 2020 –
31 Dec 2022
CZK
100,000
3 September 2020
Albrechtice
municipality
Operation of water supply assets of
the Albrechtice municipality
21 Dec 2020 –
20 Dec 2024
CZK
36,000
21 December 2020
Velké Losiny
municipality
Operation of wastewater drainage and
a public wastewater treatment plant in
Velké Losiny and the Maršíkov and
Bukovice districts
21 Dec 2020 –
20 Dec 2025
CZK
850,000
19 Dec 2018
Opava statutory
city
Due fulfilment of the operator’s
obligations arising from the contract
1 Jan 2019 - 31
Dec 2023
CZK
400,000
19 Dec 2018
Neplachovice
municipality
Due fulfilment of the operator’s
obligations arising from the contract
1 Jan 2019 - 31
Dec 2023
CZK
150,000
9 January 2020
Town of Vratimov
Due fulfilment of the operator’s
obligations arising from the contract
9 Jan 2020 – 31
Dec 2024
CZK
260,000
10 January 2020
Řepiště
municipality
Due fulfilment of the operator’s
obligations arising from the contract
9 Jan 2020 -31
Dec 2024
CZK
114,000
25 August 2020
Vodárenská
společnost
Táborsko s.r.o.
Selection of an operator of water lines
and sewerage system for Vodárenská
společnost Táborsko s.r.o.
2 Sept 2020 –
30 June 2021
CZK
2,000,000
21 December 2020
Horní Suchá
municipality
Operation of water supply assets of
the Horní Suchá municipality
1 Jan 2021 – 20
Dec 2025
CZK
230,000
21 December 2020
Dolní Lutyně
municipality
Due fulfilment of the operator’s
obligations arising from the contract
1 Jan 2021 – 20
Dec 2025
CZK
130,000
21 December 2020
Town of
Štramberk
Due fulfilment of the operator’s
obligations arising from the contract
1 Jan 2021 – 20
Dec 2025
CZK
106,500
Sureties
As of 31 December 2020, the Company records no surety (2019: CZK 0).
Liabilities associated with construction and acquisition of assets (including
financial assets)
107
As of 31 December 2020 and 2019, the Company recorded contingent liabilities of
CZK 218,510 thousand and CZK 344,493 thousand, respectively, arising from
contracted capital expenditures.
8. COVID-19
The Company assessed the impact of COVID-19 on its financial statements for the
year ended 31 December 2020. This included our best estimate of the potential impact
thereof on our ability to collect receivables and pay liabilities duly and on time, generate
future revenue, access financing and calculate estimates.
We performed analyses of customers and key suppliers (raw water, investments),
evaluation of cash flows and staffing. The analyses did not identify indications as to
the Company’s inability to continue as a going concern or to pay liabilities.
As a result of government measures that restrict economic activities, the risk of bad
receivables increased. As of 31 December 2020, based on a recovery test and an
analysis of the most important receivables past their due dates, we recognised a
provision against receivables which covers these risks.
In the year ended 31 December 2020, the epidemiologic situation and the related
pandemic measures affected not only the corporate and public sectors but also
everyday household lives.
Especially during the first wave of the COVID-19 epidemic in spring 2020, manufacture
in the facilities of several significant customers in the region was temporarily limited
(e.g. Hyundai Motor Manufacturing Czech and the related companies in the supply
chain, OKD, LIBERTY Ostrava etc.); schools were repeatedly closed during the year
and activities of businesses in the sector of services were restricted (hotels,
restaurants). This resulted in a decreased demand for drinking water and the
subsequent collection of wastewater from these entities.
However, many businesses as well as state institutions introduced work from home for
their employees. Due to the closure of schools, many people stayed at home to take
care of their children; many people also had to stay in compulsory quarantine. This led
to increased water consumption billed to households.
The above circumstances resulted in an overall decline in income compared to the
plan, with the decline in income in the area of businesses, services and public sector
being partially compensated for by an increase in income in the area
of households.
In response to this, we conducted a sensitivity analysis of revenues, costs and cash
flows, which confirmed the Company’s ability to continue as a going concern.
9. LEGAL DISPUTES
Legal disputes where the Company is the defendant
In 2020, these included the below legal proceedings initiated by legal actions of
minority shareholders for the invalidity of resolutions made by general meetings of the
Company. The proceedings in points I. and III. were concluded with final and
conclusive effect as of 31 December 2020.
108
I.
Legal action for invalidity of the resolution made by the general meeting held on 26
May 2016 – resolution on the distribution of the profit generated in 2015 and
retained earnings brought forward
1. The Company’s general meeting held on 26 May 2016 decided to distribute the profit
generated in the 2015 reporting period as follows: part of the profit amounting to CZK
338,925,650 will be paid to shareholders as a profit share and part of the profit amounting
to CZK 60,485,074.38 will be allocated to retained earnings brought forward. In addition,
the general meeting decided to pay the retained earnings of CZK 866,151,501.19 to
shareholders as a profit share.
2. On 22 August 2016, a minority shareholder filed a petition with the Regional Court in
Ostrava for declaration of invalidity of the resolution of the general meeting on the profit
distribution.
3. By its resolution ref. no. 42 Cm 174/2016-121 of 16 June 2017, the Regional Court in
Ostrava rejected the petition in full.
4. The shareholder filed an appellate review with the High Court in Olomouc against the
resolution on 28 July 2017 due to an incorrect legal assessment of the matter.
5. The High Court in Olomouc upheld the resolution of the Regional Court in Ostrava by its
resolution ref. no. 5 Cmo 256/2017-234 of 14 August 2018; the resolution of the Regional
Court in Ostrava is final and conclusive.
6. On 31 December 2018, the shareholder filed an appellate review with the Supreme Court
of the Czech Republic against the resolution of the High Court in Olomouc, in which the
subject matter of the appellate review is the legal interpretation
of the content of a protest lodged at the general meeting and the related right to file a
petition for declaration of invalidity of the resolution made by the general meeting.
7. The Supreme Court of the Czech Republic discussed the appellate review filed by
Miroslav Frank and decided on its rejection by a resolution of 30 June 2020 delivered in
July 2020. The proceedings were therefore concluded.
109
II.
Legal action for invalidity of the resolution made by the general meeting on
22 May 2017 – decrease in the share capital and resolution on the distribution of the
profit generated in the 2016 reporting period
1. As the resolution of the general meeting on a decrease in the share capital of 30 July
2015 was declared invalid with final and conclusive effect and a decision on the
appellate review to the Supreme Court of the Czech Republic was not made in 2017,
the Company’s general meeting decided by a resolution on the decrease in the share
capital in the same scope as in 2015.
2. On 15 August 2017, two minority shareholders, the first one being an individual who is
concurrently a statutory body of the other minority shareholder, a corporate entity, filed
a petition with the Regional Court in Ostrava for invalidity
of the resolution of the general meeting of 22 May 2017 on the decrease in the share
capital and distribution of the profit generated in the 2016 reporting period.
3. By its resolution ref. no. 28 Cm 221/2017-68 of 4 December 2017, the Regional Court
in Ostrava declared the resolution of the general meeting on the distribution of the profit
generated in the 2016 reporting period and resolution on the decrease in the share
capital invalid.
4. On 12 January 2018, SmVaK Ostrava filed an appeal with the High Court in Olomouc
against the resolution.
5. By its resolution ref. no. 5 Cmo 38/2018-125 of 16 October 2018, the High Court in
Olomouc set aside the resolution of the Regional Court in Ostrava by setting aside both
the resolution on the distribution of the profit generated in the 2016 reporting period and
the resolution on the decrease in the share capital in respect of the shareholder –
corporate entity, and, in respect of the shareholder – individual, setting aside the
resolution on the distribution of the profit generated in the 2016 reporting period and
setting aside resolution on the decrease in the share capital, referring the case back to
the Regional Court in Ostrava for further proceedings, taking into account the ruling of
the Supreme Court of the Czech Republic of 17 July 2018.
6. On 15 March 2019, both minority shareholders filed an appellate review with the
Supreme Court of the Czech Republic against the resolution of the High Court in
Olomouc, stating that the court assessed the entire process and content
of the resolution made by the general meeting incorrectly, primarily failing to address
the breach of the right of shareholders for information relating to the Company and the
content of protests lodged at the general meeting.
7. The Company was called upon by the Regional Court in Ostrava to comment on the
content of the appellate review. The statement on the appellate review was prepared by
the Company, the principal argument points being that the Company provided the
shareholders with all available information relating to individual items on the agenda and
answered all requests for information at the general meeting. Concurrently, the
Company stated in its statement that the subject matter
of the appellate review had already been dealt with in the past by the judicial decision
of the Supreme Court of the Czech Republic, which found it to be unfounded, and the
Company therefore proposes to dismiss it in full.
110
8. At present, the appellate review is being discussed in proceedings before the Supreme
Court of the Czech Republic. The Supreme Court was informed that the plaintiffs are no
longer shareholders of the Company due to the squeeze out
of minority shareholders and consequently lost their active legal standing. The matter
has not yet been decided.
III.
Legal action for invalidity of the resolution made by the general meeting on
23 July 2019 – resolution on the transfer of participation securities to the majority
shareholder
1. The Company’s general meeting held on 23 July 2019 decided on the transfer of
participation securities of the Company to the majority shareholder, AQUALIA CZECH
S. L. under Section 375 et seq. of the Business Corporations Act. Consideration for one
share was determined to be CZK 1,260.
2. On 22 October 2019, former minority shareholder – Čeladná municipality – filed a legal
action with the Regional Court in Ostrava for invalidity of the resolution of the general
meeting, in which it seeks annulment of the resolution in the part concerning the
resolution on the forced transfer of shares to the majority shareholder.
3. According to the plaintiff, the reason for the invalidity of the resolution made by the
general meeting is the absence of prior granted consent of the Czech National Bank
with the transfer. The plaintiff sees another reason for the invalidity of the resolution
made by the general meeting in the fact that the instruments of the plaintiff and other
municipalities and towns in the fulfilment of public law obligations under Section 2 (2)
and Section 35 (2) of the Act on Municipalities will be restricted.
4. In this case, SmVaK Ostrava is represented by Havel & Partners, s. r. o. law firm which
drew up an opinion on the filed legal action. The opinion was sent to the Regional Court
in Ostrava on 10 February 2020.
5. The regional Court in Ostrava ordered an oral hearing in the case to take place on 3
June 2020. The plaintiff asked for an amendment to the taking of evidence to include an
additional question for RM SYSTÉM, which should explain why
RM-SYSTÉM is listed in European Journals, such as the regulated European market,
and according to which rules they run a multilateral trading system.
6. On 2 June 2020, i.e. one day before the ordered hearing, the plaintiff withdrew the legal
action. By the resolution of 10 July 2020, the Regional Court in Ostrava decided to
discontinue the proceedings and concurrently decided on the obligation of Čeladná
municipality, as an unsuccessful plaintiff, to pay the costs of the proceedings to SmVaK
Ostrava. Čeladná municipality did not agree with the resolution on the payment of costs,
filed an appeal against this part of the ruling, and asked that each party bear its costs of
the proceedings.
7. SmVaK Ostrava sent a dissenting opinion on the appeal of Čeladná municipality with a
petition for confirmation of the resolution of the Regional Court in Ostrava. By its
resolution of 22 September 2020, the High Court in Olomouc upheld the ruling of the
Regional Court in Ostrava. Čeladná municipality has already paid the costs of the first-
instance proceedings.
111
Legal disputes where the Company is the plaintiff
Overall summary of legal disputes where the Company is the plaintiff as of 31
December 2020
Number of
cases
Amount in CZK
Utilised in bankruptcy and insolvency proceedings:
159
10,731,600.45
Actions filed:
174
2,549,531.88
of which distraint
141
2,006,738.99
Utilised in liquidation proceedings:
1
4,473.00
Active cases – before action:
98
366,664.62
of which in inheritance proceedings
11
90,964.10
Total cases pending:
432
13,652,269.95
1. A court case is still ongoing with respect to an administrative action filed by the Company
against the resolution of the State Energy Inspection no. 904047515 of 10 December
2015, ref. no. 0813029a14/1576/15/90.220/Kr held by the Municipal Court in Prague
under ref. no. 3 Af 16/2016; based on the challenged resolution, the Company received
a fine for incorrect utilisation and drawing of a higher amount of the green bonus in
electricity generation by combustion of sewerage gas from wastewater treatment plants.
SmVaK Ostrava sent the final decision of the Regional Court in Ostrava in a similar case
to the Municipal Court in Prague and it was expected that the Municipal Court in Prague
would decide in favour of SmVaK Ostrava, as it was in the case conducted in Ostrava.
2. However, on 22 September 2020, the Municipal Court in Prague ruled against SmVaK
Ostrava and upheld the resolution of the State Energy Inspection, Regional Inspectorate,
by which a penalty for committing an administrative offence was imposed on SmVaK
Ostrava under Section 16 (1) (c) of Act No. 526/1990 Coll., on Prices, as amended (the
“Prices Act”), which the Company, as an electricity producer by combustion of sewerage
gas from wastewater treatment plants, allegedly committed by wrongfully drawing a
higher amount of green bonuses, contrary to the material conditions stipulated by the
price authority.
3. In accordance with the Code of Administrative Procedure, the Company brought an
appeal in cassation before the Supreme Administrative Court of the Czech Republic
against the resolution of the Municipal Court in Prague.
112
10. SUBSEQUENT EVENTS
No events occurred subsequent to the balance sheet date that would have a significant
impact on the financial statements as of 31 December 2020.
113
11. FINANCIAL STATEMENTS AUTHORISATION
These financial statements were authorised for issue by the Board of Directors on
18 February 2021.
Miroslav Kyncl
Vice-Chairman of the Board of Directors
Václav Holeček
Member of the Board of Directors
Anatol Pšenička
Managing Director
Halina Studničková
Finance Director
REPORT ON RELATIONS
Severomoravské vodovody a kanalizace Ostrava a.s.
with its registered office at 28. října 1235/169, Mariánské Hory, 709 00 Ostrava,
Corporate ID: 45193665
The company is recorded in the Register of Companies kept by the Regional Court in Ostrava,
Section B, Entry 347.
__________________________________________________________________________
114
19. REPORT ON RELATIONS
The Board of Directors of Severomoravské vodovody a kanalizace Ostrava a.s. prepared the
report on relations between the controlling entity and the controlled entity and on relations between
the controlled entity and entities controlled by the same controlling entity pursuant to Section 82 of
Act No. 90/2012 Coll., on Business Corporations, as amended, for the reporting period from 1
January 2020 to 31 December 2020.
I.
MEMBERS OF THE GROUP
Severomoravské vodovody a kanalizace Ostrava a.s. is a member of the FCC Group, which is
controlled by FOMENTO DE CONSTRUCCIONES Y CONTRATAS, S. A. The list of entities included
in the Group is outlined in the appendix to this report which forms an integral part of the report.
This report lists all members of the Group with which the controlled entity had any contractual
relationships or with which any legal acts were made from 1 January 2020 to 31 December 2020.
4. Controlled entity
Severomoravské vodovody a kanalizace Ostrava a.s.
with its registered office at 28. října 1235/169, Mariánské Hory, 709 00 Ostrava
ID: 45193665
The company is entered in the Register of Companies kept by the Regional Court in
Ostrava, Section B, Entry 347
5. Controlling entity of the Group
FOMENTO DE CONSTRUCCIONES Y CONTRATAS, S. A.
with its registered office at Barcelona, Balmes 36, Kingdom of Spain
ID: A-28037224,
The company is entered in the Register of Companies kept in Barcelona, page B-26.947.
The company is not entered in the Register of Companies kept in the Czech Republic
115
6. Directly controlling entity
AQUALIA CZECH S.L.
with its registered office at Madrid, Avenida del Camino de Santiago 40, Kingdom of Spain
ID: B-85794931
The company is entered in the Register of Companies in Madrid on page M-488820.
The company is not entered in the Register of Companies in the Czech Republic
4. Other Entities in the Group with which the Controlled Entity Had Any Contractual
Relations or Legal Acts
4.1. Aqualia infraestructuras inženýring, s.r.o.
with its registered office at Slavníkovců 571/21, Mariánské Hory, 709 00 Ostrava
ID 64608042
The company is entered in the Register of Companies kept by the Regional Court in Ostrava,
Section B, Entry 14055
4.2. Vodotech, spol. s r.o.
with its registered office at Jaselská 220/47, Předměstí, 747 07 Opava
ID 64086348
The company is entered in the Register of Companies kept by the Regional Court in Ostrava,
Section B, Entry 8486
4.3. Aqualia Intech, S.A
with its registered office at Madrid, Avenida del Camino de Santiago 40, Kingdom of Spain
ID A -28849495
The company is entered in the Register of Companies in Madrid on page M-59467
The company is not entered in the Register of Companies in the Czech Republic
4.4. FCC AQUALIA, S.A.
with its registered office at Madrid, Federico Salmón 13, Kingdom of Spain
The company is entered in the Register of Companies in Madrid on page M-58878
The branch of the foreign legal entity is entered in the Register of Companies kept by the
Municipal Court in Prague, Section A, Entry 69960
ID 27788318
4.5. FCC Česká republika, s.r.o.
with its registered office at Ďáblická 791/89, Ďáblice, 182 00 Prague 8,
ID 45809712
The company is entered in the Register of Companies kept by the Municipal Court in Prague,
Section C, Entry 12401
4.6. OBSED a.s.
with its registered office at Nemocniční 998/14, Moravská Ostrava, 702 00 Ostrava
ID 27454045
The company is entered in the Register of Companies kept by the Regional Court in Ostrava,
Section B, Entry 3265
116
4.7. HIDROTEC, Tecnologia del Agua, S.L.U.
with its registered office at Sevilla, avenida de Kansas City 6, Kingdom of Spain
ID B-91033621
The company is entered in the Register of Companies in Sevilla on page SE 39514
The company is not entered in the Register of Companies in the Czech Republic
II.
THE STRUCTURE OF RELATIONS BETWEEN THE ENTITIES IN THE GROUP
1. METHOD OF CONTROL
AQUALIA CZECH S.L. as the directly controlling entity owned 3,458,425 shares of Severomoravské
vodovody a kanalizace Ostrava as of 31 December 2020. This represented a share of 100% in
the voting rights and the same share in the registered capital.
Control is performed by the directly controlling entity, mainly by acting directly in the capacity of the
Company’s General Meeting.
The controlling entity is represented in the Board of Directors and the Supervisory Board of the
controlled entity.
Cooperation between the entities in the Group is based on the arm’s length principle where the
Group uses synergies in the purchase of supplies and services.
2. STRUCTURE OF THE GROUP
FOMENTO DE CONSTRUCCIONES Y CONTRATAS, S.A. is the controlling entity of the entire
group named FCC Grupo.
A list of members of the group is appended to this report.
Fomento Construcciones y Contratas, S. A. owns a 51% equity investment in FCC AQUALIA, S.
A.
FCC AQUALIA, S. A. owns:
= 100% equity investment in AQUALIA INTECH, S. A.
= 99.9999% equity investment in AQUALIA CZECH S. L.
= 49% equity investment in Aqualia infraestructuras inženýring, s.r.o.
= 100% equity investment in HITROTEC, Tecnologia del Agua, S. L. U.
AQUALIA INTECH, S. A. owns:
117
= 51% equity investment in Aqualia infraestructuras inženýring, s.r.o.
= 100% equity investment in Vodotech, spol. s r.o.
= 100% equity investment in Tratamiento industrial de aguas, S. A.
= 0.0001% equity investment in AQUALIA CZECH S. L.
100% equity investment in FCC Česká republika s.r.o. is owned by FCC Environment CEE GmbH
which is fully owned by FCC Austria Abfall Service AG.
FCC Česká republika s.r.o. owns a 100% equity investment in OBSED a.s.
SmVaK Ostrava a.s. is a controlled entity and it is not a controlling entity or owner in any company
in FCC Grupo or any other company outside of the Group.
3. POSITION OF THE CONTROLLED ENTITY
The controlled entity is a corporation running its own business that does not depend on activities
performed by other FCC Grupo companies.
The controlled entity is an independent and autonomous business entity with respect to the
controlling and related parties.
III.
Overview of acts made during the past reporting period at the initiative or in the interest of
the controlling entity or entities controlled by the controlling entity if such acts relate to
assets exceeding 10% of the controlled entity’s equity identified in the most recent set of
financial statements:
On 7 May 2020, the sole shareholder, acting in the capacity of the general meeting, decided on the
distribution of the profit generated in the 2019 reporting period as follows: CZK 85,831,144.08 of the
profit after tax totalling CZK 379,496,092.96 will be used for the activities fulfilling the plan of financing
of renewal of water supply and sewage and CZK 293,664,948.88 will be paid out as a profit share.
Based on the result of the solvency test prepared pursuant to Section 40 (1) of Act No. 90/2012
Coll., on Business Corporations, the Board of Directors decided, based on the resolution of the sole
shareholder acting in the capacity of the general meeting on the distribution of profit generated in
the 2019 reporting period, to pay out profit shares.
IV.
OVERVIEW OF CONTRACTS CONCLUDED BETWEEN THE ENTITIES IN THE GROUP
The financial volume of the transactions with related parties is provided in section X of this report.
In the reporting period, the controlled entity (hereinafter also “SmVaK Ostrava a.s.”) and the
controlling entity, entities controlled by the same controlling entity and other entities in the Group
signed the following agreements or provided supplies on the basis of the contracts concluded
in previous periods or on the basis of newly-concluded contracts, in the following areas:
1. Sale of Products, Goods and Services
a) Sale of Products
118
During the reporting period, SmVaK Ostrava a.s. sold its products and goods to the following related
party under the relevant contractual relationships:
Vodotech, spol. s r.o.
During the reporting period, the contractual relationship continued in accordance with
contract no. 396/95 of 21 August 2008. The subject of the contract and its amendments is
the supply of water from the water network, removal of wastewater through sewerage
systems to the headquarters of the related party, and removal of rainwater from rented areas.
The contract was made pursuant to Act No. 274/2001 Coll., as amended.
During the reporting period, the contractual relationship continued in accordance with the
contract of 24 February 2005 based on which the related party bought back non-functioning
and rejected water meters from SmVaK Ostrava a.s. The contract is concluded for an
indefinite period of time with a three-month notice period.
Based on an order made by the related party, a sale of protective equipment for the partner’s
employees was carried out.
b) Sale of Services
For the sale of its own services SmVaK Ostrava a.s. was involved in contractual relationships with
the following related parties:
Vodotech, spol. s r.o.
The contractual relationship continued during the reporting period on the basis of the contract
to administer and maintain SW and HW dated 10 August 2009 including amendments
thereto. The contract is concluded for an indefinite period of time with a three-month notice
period. On 16 December 2020, Amendment No. 3 was concluded with the subject matter
involving the specification of provided services and a new price arrangement.
The contractual relationship continued during the reporting period between the related party,
as the ordering party, and SmVaK Ostrava, as the provider, based on a contract on the
provision of advisory services dated 26 January 2018, concerning advisory regarding the
ordering party’s corporate matters and media, PR and marketing consultations. The contract
is concluded for an indefinite period with a one-month notice period. The fee for the provision
of advisory services was set on the arm’s length basis.
The contractual relationship continued during the reporting period based on the contract for
the lease of non-residential premises – premises used for business activities and handling
areas in Opava of 31 August 1995 and amendments thereto; and
The contractual relationships continued during the reporting period based on the following
contracts for the lease of non-residential premises – premises used for business activities:
Contract no. 1/97 dated 30 September 1997 and amendments thereto, where the subject
of the lease is non-residential premises in the water treatment plant in Vyšní Lhoty, water
treatment plant in Nová Ves and water treatment plant in Podhradí. On 29 April 2020,
Amendment No. 4 was concluded which amended the amount of the lease and payments
for the services relating to the use of the premises for 2020, taking into account the level
of inflation for 2019.
Contract no. 2/97 dated 30 September 1997 and amendments thereto, where the subject
of the lease is non-residential premises in the wastewater treatment plant in Frýdek-
Místek and Třinec. On 29 April 2020, Amendment No. 28 was concluded which amended
the amount of the lease and payments for the services relating to the use of the premises
for 2020, taking into account the level of inflation for 2019.
119
Contract no. 3/97 dated 30 September 1997 and amendments thereto, where the subject
of the lease is non-residential premises in the wastewater treatment plant in Havířov. On
29 April 2020, Amendment No. 27 was concluded which amended the amount of the
lease and payments for the services relating to the use of the premises for 2020, taking
into account the level of inflation for 2019.
Contract no. 4/97 dated 30 September 1997 and amendments thereto, where the subject
of the lease is non-residential premises in in the wastewater treatment plant in Šenov u
Nového Jičína. On 29 April 2020, Amendment No. 27 was concluded which amended
the amount of the lease and payments for the services relating to the use of the premises
for 2020, taking into account the level of inflation for 2019.
Contract no. 5/97 dated 30 September 1997 and amendments thereto, where the subject
of the lease is non-residential premises in the wastewater treatment plant in Opava. On
29 April 2020, Amendment No. 28 was concluded which amended the amount of the
lease and payments for the services relating to the use of the premises for 2020, taking
into account the level of inflation for 2019.
The above contracts were concluded for an indefinite period of time with a three-month notice period.
The rent amount is set on the arm’s length basis using the method described in the Documentation
on transfer prices in related party transactions.
During the reporting period, contractual relations continued based on the contracts for the lease
of movable assets:
Contract no. 1/97 dated 30 September 1997 and amendments thereto, where the subject
of the lease are movable assets – laboratory devices in water treatment plant Podhradí
and Nová Ves u Frýdlantu nad Ostravicí.
Contract no. 3/97 dated 30 September 1997 and amendments thereto, where the subject
of the lease are movable assets – laboratory devices and equipment in the wastewater
treatment plant in Havířov and water pipeline operation centre in Karviná,
Contract no. 5/97 dated 30 September 1997 and amendments thereto, where the subject
of the lease are movable assets – laboratory devices and equipment in the wastewater
treatment plant in Opava.
Contract no. 6/97 dated 30 September 1997 and amendments thereto, where the subject
of the lease are movable assets – laboratory devices and equipment in the central
laboratory in Ostrava.
The above contracts were concluded for an indefinite period of time with a three-month notice period.
The rent amount is set on the arm’s length basis using the method described in the Documentation
on transfer prices in related party transactions and is adjusted on the basis of the annual inflation
rate declared by the Czech Statistical Office for the previous calendar year.
Aqualia infraestructuras inženýring, s.r.o.
The contractual relationship continued during the reporting period between the related party, as
the ordering party, and SmVaK Ostrava a.s., as the provider, based on a contract on the
provision of advisory services dated 26 January 2018, concerning advisory regarding the
ordering party’s corporate matters and media, PR and marketing consultations. The contract is
concluded for an indefinite period with a one-month notice period. The fee for the provision of
advisory services was set on the arm’s length basis.
120
In the reporting period, SmVaK Ostrava a.s., as the contractor, and the related party, as the
client, entered into contracts for work where the subject was the work relating to building of water
management infrastructure structures and their repairs performed by the related party for a third
party. In the concluded contracts for work, the price was set on the basis of the budget and
SmVaK a.s.’s valid pricelist of work and services. All work was completed properly and in time
and was handed over to the client in accordance with the contract.
FCC Česká republika s.r.o.
On the basis of the contract on wastewater treatment, in the reporting period SmVaK Ostrava
a.s. provided the related party with treatment of wastewater from septic tanks, cesspools and
wastewater from landfills brought to the wastewater treatment plant. The fee was set based
on SmVaK Ostrava a.s.’s valid price list.
Based on the related party’s order, SmVaK Ostrava cleaned technical facilities of the related
party. The price was determined according to the valid price list of SmVaK Ostrava a.s.
c) Provision of Other Services
As part of the provision of other services, SmVaK Ostrava a.s. had contractual relationships in the
area of provision of services with the following partners:
Vodotech, spol. s r.o.
On 30 September 2019, SmVaK Ostrava a.s. as the lessor and the related party as the lessee
concluded a contract for the lease of movable assets – automatic wastewater samplers. The
contract has been concluded for a definite period of time until 31 December 2021 with a three-
month notice period. The rent was set on the arm’s length basis pursuant to the Documentation
on transfer prices in related party transactions.
Pursuant to an order of the related party, SmVaK Ostrava a.s. made copies of meter readings of
selected customers. The price for the performed services was determined by an agreement of
the contracting parties.
Aqualia infraestructuras inženýring, s.r.o.
In the reporting period, the contractual relationship continued based on contracts for the lease
of non-residential premises – premises used for business activities in Šenov u Nového Jičína.
The contract is concluded for an indefinite period of time with a three-month notice period.
The amount of the rent is determined on the arm’s length principle according to the
Documentation on transfer pricing in related party transactions.
2. Purchase of Goods and Services
SmVaK Ostrava a.s. purchased goods, services, advisory and other services from the following
related parties in the reporting period:
Vodotech, spol. s r.o.
In the reporting period, the contractual relationship continued under the contract No. 01/2009 of
24 February 2009 where the purpose of the contract was to repair and maintain the water meters
for cold water and hot water and to verify whether the water meters function correctly for SmVaK
Ostrava as the client. The contract is made for an indefinite period of time with a three-month
notice period. The price for the performance was specified in line with the arm’s length principle
121
pursuant to the Documentation on transfer prices in related party transactions. The price is
adjusted on the basis of the inflation rate declared by the Czech Statistical Office for the previous
calendar year.
In the reporting period, the contractual relation continued under the contract on provision of
services of 27 August 2009 incl. the amendments thereto, where the purpose was to arrange
the reading of water meters at SmVaK Ostrava a.s.’s customers, to prepare supporting
documents from the read data for billing and to check the functionality of water meters on
customer sites. The contract is concluded for an indefinite period of time with a three-month
notice period. SmVaK Ostrava as the client may withdraw from the contract. The price for the
supply in line with the contract is set in line with the arm’s length principle pursuant to the
Documentation on transfer prices in related party transactions. The price is adjusted on the basis
of the inflation rate declared by the Czech Statistical Office for the previous calendar year. On
20 April 2020, amendment no. 14 was concluded, setting the price of services for 2020.
In the reporting period, the contractual relationship continued based on the contract on the
provision of call centre services dated 30 June 2008 and amendments thereto, whereby the
related party arranged the operation of a customer service line for SmVaK Ostrava a.s. The
contract is concluded for an indefinite period of time with a three-month notice period. The price
for the supply is set in line with the arm’s length principle pursuant to the Documentation on
transfer prices in related party transactions. On 15 April 2020, amendment no. 12 was
concluded, determining the price of the services provided for 2020.
The related party sold, upon the controlled entity’s purchase order, materials - ie the meters
specified above (water meters).
In the reporting period, supplies continued pursuant to the Master Service Contract of 7 June
2017 on the provision of specialised services by the related party consisting in systematic
inspections of locations including installation and replacement of water meters including devices
for remote reading with a right of withdrawal from the contract for SmVaK Ostrava a.s. as the
client. The price of the supplies based on this contract is set by agreement of the parties based
on the arm’s length principle as the price common at the relevant place and time. On 20 April
2020, amendment no. 3 to this contract was concluded, setting the price for 2020.
Based on an order from SmVaK Ostrava a.s., the related party provided training of the
Company’s employees in relation to the operation of pressure, lift and dedicated equipment.
In the reporting period, supplies continued between the related party as the provider and SmVaK
Ostrava a.s. as the user pursuant to the contract on the use of CRM LEONARDO CALL
CENTRUM software of 21 August 2018 for the purposes of service offers and customer
requirements. The contract is concluded for an indefinite period of time with a two-month notice
period. The price was set by agreement on the arm’s length basis.
On 26 June 2019, SmVaK Ostrava a.s., as the client, and the related party, as the provider,
concluded a master service contract – assembly and supply of equipment for remote reading of
water meters. The contract was concluded for a definite period of time until 31 December 2020
and the price of the provided services and supplies was set in line with the transfer pricing
documentation as the price common at the relevant place and time. On 6 March 2020,
amendment to this contract was concluded, adjusting the price for the supplies.
On 18 May 2019 SmVaK Ostrava a.s., as the client, and the related party, as the provider, concluded
a master service contract – review of gas, pressure and lift equipment. The price for the provision of
services is set based on the valid price list of the related party. The contract is concluded for an
122
indefinite period of time with a two-month notice period and a right to withdraw from the contact in
the event of a serious breach of the terms and conditions.
On 21 April 2020, amendment no. 1 to this contract was concluded, setting a new time schedule for
the provision of services and an updated price list.
On 4 March 2020, a contract for work was concluded with the related party with the provision of
work in 2020 and involving sampling and analysis of samples of drinking and raw water in the
Ostrava area water supply network (“OOV”) system.
On 4 March 2020, a contract for work was concluded with the related party with the provision of
work in 2020 and involving sampling and analysis of samples waste water and sewage sludge.
On 4 March 2020, a contract for work was concluded with the related party the subject of which
is sampling and analysis of samples of drinking water in water distribution networks. The contract
was concluded for the period of 2020.
The price of sampling and analysing pursuant to the above contracts is specified in the related party’s
price list with the provision of a bulk discount.
Aqualia infraestructuras inženýring, s.r.o.
On the basis of contracts for work concluded in 2019, the related party prepared the project
documentation for the following construction work in the reporting period:
Construction
number
Construction name
5682
Skřipov, Hrabství – construction of sewerage system and WWTP
1619
Water treatment plant Vyšní Lhoty – modernisation of automatic management system and
renovation of technology
20138
Water tank Kostelec 2x 100 m
3
– building redevelopment
3875
Těrlicko, Hornická – renovation of the DN 300 sewer
2773
Frýdlant nad Ostravicí, Hukvaldská – capacity improvement of sewer “AC”, including
building a rainwater tank
1675
Feeder DN 1200 Šance - Nová Ves, feeder DN 600 Nová Ves - Čeladná - Červený Kámen
– renovation of Ostravice bridge
1674
Renovation of corrosion protection – cathodic protection station Stonava, cathodic
protection station Velká Polom
3873
Karviná - Fryštát, Karola Śliwky – renovation of relief chambers “OK1 beta B”, “OK1 beta
C” and “OK1 beta E”
1671
Water tank Frenštát – repair and renovation of the construction part and electric wiring
30151
Petřvald, Vodárenská, Šumbarská – replacement of water mains
1680
Water treatment plant Bystré – repair of collection and renovation of maintaining residual
flow rate
1679
Water tank Baška – repair and renovation of the construction part of the valve chamber
and water tank
2774
Wastewater treatment plant Brušperk – renovation of sludge drainage
123
Construction
number
Construction name
4058
Vřesina, Nad Opustou – renovation of water mains
40149
Bílovec, Ostravská – replacement of water mains
3876
Orlová, Okružní, S. Tůmy, Ke Studánce, Žofinská – renovation of sludge pump station
3877
Wastewater treatment plant Bohumín – renovation of automatic pressure station for
industrial water
30149
Orlová, Sadová – replacement of water mains
3879
Wastewater treatment plant Havířov –measuring device for imported wastewater
1688
Pressure break chamber Staříč – repair and renovation of the construction part
30150
Karviná - Nové Město, Janáčkova, nám Budovatelů, Erbenova – replacement of water
mains
3874
Karviná - Nové Město, Janáčkova, Erbenova – renovation of the “BVIb5” and “BVIe”
sewers
30155
Karviná – Nové Město, Třída Družby no. 1396–1400 – replacement of water mains
3880
Karviná - Nové Město, Třída Družby 1396-1400 – renovation of the “BVIc” and “BVIc2”
sewers
20153
Automatic pressure station Stará Ves nad Ondřejnicí – building redevelopment
20152
Český Těšín, Na Lučinách – replacement of the water pipeline
30152
Havířov - Šumbark, Odboje, Dukelská – replacement of water mains
50102
Jančí – connection to the water pipeline of Větřkovice
1664
Water tank Pstruží – repair of the construction part of the valve chamber and water tank
1685
Water tank Ženklava – repair and renovation of the construction part
30154
Bohumín - Skřečoň, Myslivecká – replacement of water mains
3882
Bohumín - Skřečoň, Myslivecká – renovation of the “beta Aj”, “beta AjI”, “beta Aj2” sewers
4729
Nový Jičín, Nábřežní, Msgr. Šrámka, Komenského, Novosady – renovation
40089
Water tank Bravinné 100 m
3
– renovation of the structure
50104
Branka, Školní-most – replacement of the water pipeline
50103
Domoradovice – replacement of the feeding pipes
30157
Petřvald, Ludvíkova, Šenovská, K Ubytovnám – replacement of water mains
20159
Český Těšín, Hlavní třída, Viaduktová, Sokola Tůmy, Ostravská – replacement of water
mains
40153
Heřmánky – replacement of water mains under the railway and the Odra river
4730
Odry, Mendlova – renovation of the sewerage system
124
Construction
number
Construction name
30156
Rychvald, Orlovská, U Pošty, Michálkovická – replacement of water mains
3883
Wastewater treatment plant Havířov – construction of a low-temperature drying room and
a pyrolysis unit
50105
Water tank Bělá – connection of LV cable
On the basis of contracts for work concluded in 2020, the related party prepared the project
documentation for the following construction work in the reporting period:
Construction
number
Construction name
40157
Sedlnice – replacement of water mains
30160
Orlová – Poruba, Václavská– replacement of water mains
R 1687
OOV – renovation of collectors in the Sviadnov centre
R 1686
OOV – renovation of collectors in the Krásné Pole centre
5692
Opava, Olomoucká– renovation of the “A” sewer
50107
Vítkov, Nová – replacement of the water pipeline
5689
Vítkov, Nová – renovation of the sewerage system
20170
Metylovice - Lhotka – connection of water pipes (replacement of the source balance)
20164
Raškovice – replacement of the water pipeline
30166
Havířov - Bludovice, Selská – replacement of water mains
40160
Bartošovice – replacement of water mains
30161
Havířov – Šumbark, Jarošova, Okružní – replacement of water mains
30162
Těrlicko, Slezská, Kosmonautů – replacement of water mains
50117
Podvihov, Na Nové – construction of the automatic pressure station and water
pipeline
30163
Karviná - Ráj, Jabloňová, Slepá, Šeříková, Rájecká, Na Stráni – replacement of water
mains
20165
Těrlicko – Horní Těrlicko, Na Výsluní - replacement of the water pipeline
20169
Vratimov - Horní Datyně, Souběžná – replacement of the water pipeline
50112
Opava, Nádražní okruh, náměstí Svobody – replacement of the water pipeline
5693
Opava, Nádražní okruh – renovation of manholes in the “AH” sewer
50114
Opava – Kateřinky, U Švédské kaple – replacement of water mains
125
50115
Ludgeřovice, U školky – replacement of water mains
50116
Háj ve Slezsku – renovation of the bridging of the supply line
R 1706
Staré Město u Karviné water resource – decommissioning of the waterworks
1608
Chlebičov water resource – replacement of the JS-1 borehole
20180
Vratimov, U Mateřské školy – replacement of the water pipeline
2778
Vratimov, U Mateřské školy and Na Vyhlídce – renovation of the sewerage system
40165
Sedlnice – Bartošovice – replacement of water mains
40164
Nový Jičín, U Jičínky – replacement of water mains
2779
Frýdek-Místek, Pionýrů, Ostravská – renovation of the “AN” sewer
3887
waste water treatment plant Havířov– renovation of the primary sludge pumping
station
3888
waste water treatment plant Havířov – renovation of the stabilised sludge pumping
from a storage tank
1715
Deacidification station Odry – renovation of the LV connection, replacement of power
cables and transformer
20161
Třinec, Žižkova and Lípová – replacement of the water pipeline
1707
Water treatment plant Nová Ves– renovation of the filter hall roof
3889
Rychvald, Středová – renovation of the sewerage
50122 (I+R)
Water tank Komárov 2x250m
3
– building redevelopment
3890
Český Těšín, Kpt. Jaroše – renovation of the “EVIa” sewer
3891
Karviná - Nové Město, Erbenova, Havířská – renovation of the sewerage system
2782
Vratimov, Křivá, Ovocná – renovation of “BB2” and “BB21” sewers
3892
Český Těšín, Divadelní – renovation of the “Gd3” sewer
50123
Opava, Čajkovského – replacement of the water pipeline
5696
Opava, Otická, náměstí Svobody, sady Svobody – renovation of the sewerage system
4733
Frenštát pod Radhoštěm, Příčnice, Školská čtvrť – renovation of the “AC” sewer
On the basis of contracts for work concluded in 2020, the related party will prepare the project
documentation for the following construction work in 2021:
126
Construction
number
Construction name
3885
Bohumín - Skřečoň, Cihelní, 1. máje – renovation of the “beta Aa”, “beta Ab” sewers
1689
Water tank Písečná 2 x 75 m
3
2780
Třinec, Žižkova and Lipová – renovation of the “AD” sewer
30165
Havířov-Město, U Motelu – replacement of water mains
20178
Vratimov, Křivá – replacement of the water pipeline
40168
Příbor, nábřeží Rudoarmějců, 9. května, Vrchlického – replacement of water mains
40167
Odry, Ke Koupališti, Zahradní, Hranická – replacement of water mains
30176
Havířov – Prostřední Suchá, Hornická, kpt. Jasioka – replacement of water mains
30175
Orlová – Lutyně, Na Stuchlíkovci – renovation of the water mains
2781
Waste water treatment plant Frýdek-Místek– renovation of the pumping station in the
rainwater tank
1701
Lichnov water tank – LV connection, repair, and renovation of the structure part
3893
Waste water treatment plant Horní Bludovice – construction of an access road
1712 (I+R)
Deacidification station Hněvošice– repair of HV1, HV2 boreholes, renovation of
telemetry and measuring of water levels in boreholes
1713 (I+R)
Deacidification station Hněvošice – repair and renovation of the construction and
technological part
1716
OOV – renovation of PKO feeders from the Kružber group water pipeline (KSV)
1717
OOV – renovation of PKO feeders from the Bruntál group water pipeline (BSV)
20073
Třinec, Bezručova – replacement of the water pipeline
50124
Melč group water pipeline A – replacement of supply lines (1
st
and 2
nd
stage)
50131
Lhotka u Litultovic – replacement of the water pipeline
1569
Renovation of the DN 500 feeder Dobrá - Nové Dvory - Frýdek
20182
Sviadnov, O. Kišové – replacement of the water pipeline
30177
Šenov, Petřvaldská, Těšínská – replacement of water mains
30178
Dětmarovice, 680 - 872 – replacement of water mains
20185
Frýdek-Místek, U Nemocnice – construction of a water meter shaft
50130
Podlesí – replacement of the water pipeline (1
st
and 2
nd
stage)
1729
Acceleration pumping station Petrovice – renovation of the control system
20123
Redevelopment of the Třinec centre’s compound
127
Construction
number
Construction name
30181
Orlová-Lutyně, 17. listopadu – replacement of water mains and network modifications
30179
Rychvald, Školní – set up of a water meter shaft
3707
Waste water treatment plant Rychvald (Václavka) – renovation of the Imhoff tank
40181
Trnávka – replacement of the water line bridge
40183
Bílovec, Za Nemocnicí – replacement of water mains
40182
Kopřivnice, Obránců míru – replacement of water mains
On the basis of contracts for work concluded in 2019, the related party completed construction
work which included renovation of the following infrastructure assets in the reporting period:
Construction
number
Construction name
R1077
Bruzovice pressure break chamber – redevelopment of the structure – repair part
R1563
Water treatment plant Nová Ves– repair and renovation of construction part of the
structures – filter hall, power management building, chlorine storage, dosage and
ancillary operations building, workshop and garage building
R1607
Renovation and repair of lighting of 8 compounds of the water treatment plan and the
waste water treatment plant – 2x water treatment plant of OOV
R1612
Záhumenice extension – repair and renovation of the structure part and earthing
R40154
SmVaK Ostrava a.s. compound, Suvorovova 538, Šenov u Nového Jičína –
construction repair of garages
8562-125
Waste water treatment plant Frýdek-Místek – repair of pipeline between the VK and
DN -2-3-5-8 troughs
8562-126
Waste water treatment plant Frýdek-Místek – repair of the pipeline in a technological
collector
8443-148
Třinec, Nový Borek 775-780 – repair of the "BA-7" sewer breakdown
8444-149
Havířov - Bludovice, Želivského 1338 – repair of the A sewer breakdown
8573-155
Waste water treatment plant Opava – repair of the pumping station to achieve a
biological degree of treatment
128
On the basis of contracts for work concluded in 2020, the related party performed construction
work which included renovation of the following infrastructure assets in the reporting period:
Construction
number
Construction name
R1654
Water tank Frýdek – repair and renovation of the construction part and electrical wiring
R1660
Water tank Doubrava– repair of drainage from accumulation chambers
R1661
Water treatment plant Vyšní Lhoty– repair of the construction part of structures
R1691
Water treatment plant Podhradí – repair and renovation of the dosage building
R40174
Water tank Veřovice HTTP 2x100m
3
– construction repair of the structure
R40175
Water tank Starý Jičín 100m
3
– construction repair of the structure
R40176
SmVaK compound at Suvorovova 538, Šenov – repair of the façade on the warehouse,
workshop and garage building
8445-001
Karviná - Mizerov, Stavbařů 2193 – repair of the HIIIa sewer breakdown
8445-007
Nový Bohumín, J. Palacha 625 – repair of the BII sewer breakdown
8445-018
Karviná - Ráj, Božkova 555 – repair of the "JI" sewer breakdown
8562-020
Waste water treatment plant Frýdek-Místek – repair of the breakdown of the roof on the
sludge treatment and disposal building
8445-023
Karviná – Ráj, Božkova 553 – repair of the "JI" sewer breakdown
8564-032
Waste water treatment plant Havířov– repair of the DN-2 technological built-in
8452-033
Bílovec, Havlíčkova, Svobodova – repair of the AH sewer breakdown
8445-037
Karviná-Nové Město, Třída Osvobození 1731 – repair of the EVIII sewer breakdown
8452-039
Sludge pumping station Odry (Nábřežní)– repair of the screw pumps breakdown
8452-041
Frenštát p. R., Dvořákova, Jandovo stromořadí – repair of the "AC" sewer breakdown
8453-047
Opava, M. Horákové – repair of the CQ sewer breakdown
8445-050
Karviná - Nové Město, Náměstí Budovatelů 1422 – repair of the "BVId" sewer
breakdown
8445-055
Nový Bohumín, Družstevní 767 – repair of the NBIVa sewer breakdown
8444-074
Orlová - Lutyně, Rydultowská 1000 – repair of the AVIi sewer breakdown
8443-081
Třinec, Jablunkovská 415 – repair of the AZ sewer breakdown
8445-093
Nový Bohumín, ČSA 1072 – repair of the "BI" sewer breakdown
8445-105
Rychvald, Stará Kolonie – repair of the BIX sewer breakdown
8572-109
Waste water treatment plant Nový Jičín – repair of the RM07 switchboard and electrical
wiring system breakdown
129
Construction
number
Construction name
8572-124
Waste water treatment plant Fulnek – repair of the input pumping station breakdown
8564-127
Waste water treatment plant Orlová – repair of the Flottweg separator breakdown
8444-128
Sludge pumping station Šenov (Na Sedlácích)– repair of the pump sump technology
breakdown
8444-146
Petřvald, Ve Finských 571 – repair of the "AVId" sewer breakdown
8452-152
Příbor, Vrchlického – repair of the "AK" sewer breakdown
8572-168
Waste water treatment plant Fulnek– repair of the aeration equipment breakdown in AN
8452-169
Nový Jičín, Slovanská – repair of the "AE-10" sewer breakdown
8565-174
Waste water treatment plant Karviná – repair of the Motorgas MGW 260 cogeneration
unit
8453-177
Opava, Mostní – repair of the "BS-6" sewer breakdown
8565-178
Waste water treatment plant Karviná – repair of the roof breakdown on the VN2 building
8564-182
Waste water treatment plant Orlová – repair of the roof breakdown on the service
building
8573-184
Waste water treatment plant Opava – overhaul of the TBG 235 cogeneration unit
8445-186
Karviná - Nové Město, Na Vyhlídce 1234-1235 – repair of the sewer connections
breakdown
8444-192
Petřvald, Generála Svobody (by the playground) – repair of the "AVIIIa" sewer
8572-193
Waste water treatment plant Odry – repair of the YBA 720x7974 screw pump
breakdown
8444-195
Orlová - Lutyně, Kpt. Jaroše 790 – repair of the "AVII" sewer
8563-198
Český Těšín waste water treatment plant – repair of damage on a road
8444-203
Havířov - Šumbark, Jaroše 990 – repair of the "AIII" sewer breakdown
8445-206
Karviná - Nové Město, Náměstí Budovatelů 1425 – repair of the BVId sewer breakdown
8453-208
Opava, Liptovská, Procházkova – sewerage system breakdown
130
• On the basis of contracts for work concluded in 2020, the related party will perform construction
work comprising repairs of the following infrastructure assets in 2021:
Construction
number
Construction name
R40129
Water tank Bílov 2 x 250 m
3
- building redevelopment
R40131
Water tank Fulnek 2 x 750 m
3
– building redevelopment
8572-115
Waste water treatment plant Nový Jičín – overhaul of the cogeneration unit
8562-136
Waste water treatment plant Paskov – repair of the technological tanks breakdown
8573-196
Waste water treatment plant Opava – repair of the sludge pumping station and the DZ
trough
The subject matter of the contracts named above included the preparation of project documentation
and comprehensive engineering and construction work including the supply of construction materials
for the construction and subsequent surveying work for the building for the purposes of the inclusion
in the client’s geographic information system (GIS). The price for the work is always determined in
individual contracts for work in line with the Act on Prices and the Documentation on transfer prices
in related party transactions. The payment terms and conditions, quality warranties and contractual
fines are determined in line with the Master Agreement on General Construction Projects of 29 June
2015 and amendments thereto.
Based on a contract for work concluded in 2020, the related party removed and disposed of the
cancelled Stachovice pumping station for SmVaK Ostrava a.s.
Based on a contract for work concluded in 2020, the related party will complete the removal
and disposal of the former Holotovec water treatment plant for SmVaK Ostrava a.s.
FCC Česká republika, s.r.o.
On 4 January 2019, a contract for work was concluded regarding the handover and disposal
of wastewater sludge from the water treatment plants in Podhradí u Vítkova, Nová Ves and
Vyšní Lhoty. The contract was signed for the period from 1 January 2019 to 31 December
2020. The contract was concluded based on the results of a tender as a public tender contract
which did not exceed the limit, pursuant to an internal guideline of the controlled entity.
Based on an order, the related party leased waste containers to SmVaK Ostrava. The lease
fee was determined according to the price list of the related party.
OBSED a.s.
Based on orders from SmVaK Ostrava a.s., the related party organised transport of sludge
in addition to the scope of the contract on the takeover and disposal of wastewater sludge
from treatment of communal wastewater in the wastewater treatment plant.
131
In the reporting period, supplies continued pursuant to the contract of 7 December 2017. The
subject matter of the contract was the collection and disposal of sludge from treatment of
communal wastewater in the wastewater treatment plant by the related party. The contract
was signed for the period from 1 January 2018 until 31 December 2020. The contract was
concluded based on the results of a tender pursuant to the Act No. 137/2006 Coll. as a public
tender contract which exceeded the limit. The performance under the contract was extended
to 31 March 2021 by Amendment
No. 1 of 8 December 2020.
3. Supplies of an Investment Nature
During the reporting period, SmVaK Ostrava a.s. had contractual relations with the following related
parties as part of the purchased supplies of an investment nature:
Aqualia infraestructuras inženýring, s.r.o.
On the basis of contracts for work concluded in 2019, the related party completed the following
construction projects during the reporting period:
Construction
number
Construction name
1570
Bruzovice pressure break chamber – redevelopment of the structure – part of the
investment
1612
Záhumenice extension – repair and renovation of the construction part and earthing
1692
Pumping station Petrovice – addition of water sanitation
20099
Stará Ves nad Ondřejnicí, Na Závodí, U Vody, Petřvaldská – renovation of the water
pipeline
20126
Třinec, Lidická – replacement of the water pipeline
30127
Orlová centre – replacement of electrical equipment in the high voltage substation
and the KA_9264 transformer station
30132
Intervention centre Orlová – redevelopment of the centre
40122
Tichá – replacement of the water pipeline
40132
Sedlnice – replacement of water mains
50078
Vršovice, HTP – replacement of water mains
50081
Nové Těchanovice – renovation of the water pipeline
50084
Opava - Kateřinky, U Cukrovaru, Rolnická – replacement of the water pipeline
2769
Waste water treatment plant Třinec – renovation of the sludge dewatering
3794
Petřvald, Podlesí nos. 1 and 2 – liquidation of the sewerage outlet
3823
Doubrava – liquidation of the sewerage outlets U Komendra
3852
Waste water treatment plant Havířov– renovation of the water pipeline
3865
Waste water treatment plant Český Těšín – renovation of the boiler room
132
Construction
number
Construction name
3867
Waste water treatment plant Horní Bludovice – expansion of the biological degree
3881
Těrlicko, Hornická – renovation of sewage pumping station
4715
Waste water treatment plant Štramberk (Kanada) – renovation of the structure and
technology
5670
Dobroslavice – sewerage system and waste water treatment plant (800 EO)
On the basis of contracts for work concluded in 2020, the related party performed the following
construction work in the reporting period:
Construction
number
Construction name
I1570
Bruzovice pressure break chamber – renovation of the structure – part of the
investment
1577
Water treatment plant Nová ves – renovation of the sludge treatment and disposal
I1612
Záhumenice extension – repair and renovation of the construction part and earthing
I1618
Water treatment plant Velké Hoštice– replacement of the delivery pipes from the S2
well and the V3A borehole
I1631
Feeder DN 600 Čeladná - Červený kámen – addition of a section seal
I1666
Water tank Smolkov – addition of water sanitation
I1676
Water treatment plant Košařiska – addition of an air dehumidifier
I1691
Water treatment plant Podhradí – repair and renovation of the dosage building
I1693
Water tank Krmelín – provision of a safe access to water meter shafts
I1697
Water tank Kopřivnice– construction and technical survey – renovation of telemetry
I1702
Pumping station Klokočůvek – emergency renovation of the 2
nd
pump machinery set
I20099
Stará Ves nad Ondřejnicí, Na Závodí, U Vody, Petřvaldská – renovation of the water
pipeline
I20102
Krmelín, Květná – construction modification of the water pipeline
I20103
Frýdek-Místek, ČSA – construction modification of the water pipeline
I20125
Třinec, U Splavu – replacement of the water pipeline
I20126
Třinec, Lidická – replacement of the water pipeline
I20127
Chlebovice - Lysůvky – renovation of the water pipeline
I20135
Vratimov, Na Příčnici – replacement of the water pipeline
I20139
Komorní Lhotka – replacement of the water pipeline
133
Construction
number
Construction name
I20140
Bruzovice - U fotbalového hřiště – replacement of the water pipeline
I20142
Sviadnov, Milíčova and Rybářská – replacement of the water pipeline
I20143
Komorní Lhotka, Kamenec – replacement of the water pipeline
20152
Český Těšín, Na Lučinách – replacement of the water pipeline
20177
Jablunkov-Písečná – adjustment of the method of drinking water supply
I30117
Havířov - Podlesí, Okrajová, Dlouhá třída – renovation of water mains
I30118
Bohumín – Záblatí, Sokolská, Bezručova, Na Pískách – replacement of water mains
I30121
Havířov – Prostřední Suchá, Horní Suchá Pašůvka – replacement of water mains
I30126
Havířov - Bludovice, Rodinná, Havraní, Na Kavkovicích, Těšínská – renovation of
water mains
I30127
Orlová centre – replacement of the low voltage substation and KA_9264 transformer
station electrical equipment
30128
Orlová - Lutyně, Zátiší, Luční – replacement of water mains
I30132
Orlová intervention centre – renovation of the centre
I30133
Havířov-Bludovice, Padlých hrdinů – replacement of water mains
I30134
Petřvald, Březinská – replacement of water mains
I30138
Rychvald, U Skučáku, Rybničná – replacement of water mains
I30139
Havířov – Prostřední Suchá, Hornická – replacement of water mains
I30147
Nový Bohumín, Spojovací – replacement of water mains
I30149
Orlová, Sadová – replacement of water mains
I30151
Petřvald, Vodárenská, Šumbarská – replacement of water mains – 1
st
and 2
nd
part
I30155
Karviná – Nové Město, tř. Družby no. 1396–1400 – replacement of water mains
I4058
Vřesina, Nad Opustou – renovation of water mains
I40122
Tichá – replacement of the water pipeline
I40132
Sedlnice – replacement of water mains
I40137
Nový Jičín, Máchova – replacement of water mains
I40138
Příbor, Zámečnická, Nádražní, náměstí Sigmunda Freuda – renovation of the water
pipeline
I40141
Nový Jičín, Nábřežní, Msgr. Šrámka, Komenského, Novosady – replacement of
water mains
I40146
Jakubčovice nad Odrou, Oderská – replacement of water mains
134
Construction
number
Construction name
I40149
Bílovec, Ostravská – replacement of water mains
I50063
Opava, Krnovská – renovation of the water pipeline
50075
Kružberk – renovation of the water pipeline
I50078
Vršovice, HTP – replacement of water mains
I50081
Nové Těchanovice – renovation of the water pipeline
I50084
Opava - Kateřinky, U Cukrovaru, Rolnická – replacement of the water pipeline
I50089
Vítkov, Dělnická II – replacement of water mains
I50091
Vítkov - Podhradí – adjustment of the method of drinking water supply
I50095
Jančí – replacement of water pipeline
I50096
Štítina – water meter and reduction shaft
I50097
Háj ve Slezsku, Mírová – re-routing of water connections
I50103
Domoradovice – replacement of the water supply mains
I2767
Waste water treatment plant Třinec – renovation of the co-generation
I2769
Waste water treatment plant Třinec – renovation of the sludge dewatering
2783
Waste water treatment plant Řepiště – inclusion of the control system of SmVaK
Ostrava
I3794
Petřvald, Podlesí nos. 1 and 2 – disposal of the sewerage outlets
I3823
Doubrava – disposal of the sewerage outlets at U Komendra
I3852
Waste water treatment plant Havířov – renovation of the water pipeline
I3865
Waste water treatment plant Český Těšín – renovation of the boiler room
I3867
Waste water treatment plant Horní Bludovice – expansion of the biological degree
I3872
Albrechtice u Českého Těšína – renovation of the “O1C” relief sewer
I3877
Waste water treatment plant Bohumín– renovation of the automatic pressure station
for water intended for industrial use
I3878
Waste water treatment plant Karviná – modification on the equipment for pumping of
primary and returnable sludge
I3880
Karviná - Nové Město, Třída Družby 1396-1400 – renovation of “BVIc“ and „BVIc2“
sewers
I3881
Těrlicko, Hornická – renovation of sewage pumping station
3894
Rychvald, Červená kolonie – renovation of the B sewer
3895
Havířov - Město, U Stromovky – renovation of the “AVI” and “AVIa” sewers
135
Construction
number
Construction name
3896
Karviná-Nové Město, Na Vyhlídce – renovation of the B sewer
I4715
Waste water treatment plant Štramberk (Kanada) – renovation of the structure and
technology
I4721
Nový Jičín, Máchova – renovation of the “AL” sewer
I4725
Příbor, Zámečnická, Nádražní, Sigmunda Freuda – renovation of the sewerage
system
I4729
Nový Jičín, Nábřežní, Msgr. Šrámka, Komenského, Novosady – renovation of the
sewerage system
4734
Sludge pumping station Odry (Nábřežní) – renovation of the technological process
system management and inclusion in the control system
I5670
Dobroslavice – sewerage system and waste water treatment plant (800 EO)
I5687
Opava, Těšínská – renovation of the manholes of the “A” sewer
I5692
Opava, Olomoucká – renovation of the “A” sewer
I5694
Vlaštovičky – data transfer from sewerage system structures to the control room
In the reporting period, the following contracts for work were concluded with the related party
under which the construction work is to be completed in 2021:
Construction
number
Construction name
1513
Renovation of feeder DN 500 Chlebovice - Staříč - Stará Bělá
1563
Water treatment plant Nová Ves – renovation of the construction part of the buildings
– hall of filters, power management building, chlorine storage
1579
Water treatment plant Nová Ves – renovation of the technological part and
automated technological process control system
I1606
Raduň pressure break chamber – repair and renovation of the valve chamber,
renovation of the pressure break chamber
1607
Renovation and repair of exterior lighting of 8 water treatment plant and waste water
treatment plant compounds - 2x water treatment plant of OOV
I1630
Water tank Mniší– repair and renovation of the construction part of storage chamber
and the water tank
I1645
Water treatment plant Nová Ves– renovation of the lighting and socket wiring
I1654
Water tank Frýdek – repair and renovation of the construction part and wiring
1673
Water treatment plant Nová ves – sewage disposal
I1690
Water treatment plant Podhradí– replacement of part of the DN 1000 piping – drain
from the ozone reaction tank – flocculation
20141
Vratimov, Popinecká – replacement of the water pipeline
I30135
Karviná - Ráj, Haškova – replacement of water mains
I30140
Havířov - Město, U Školky, Gogolova, Majakovského, Matuškova – replacement of
water mains
136
Construction
number
Construction name
I30150
Karviná – Nové Město, Janáčkova, nám. Budovatelů, Erbenova – replacement of
water mains
I30152
Havířov - Šumbark, Odboje, Dukelská – replacement of water mains
I40114
Fulnek, Masarykova, Fučíkova, Kostelní – renovation of water mains
I40129
Water tank Bílov 2 x 250 m
3
– structure redevelopment
I40131
Water tank Fulnek 2 x 750 m
3
– building redevelopment
I40133
Ženklava, from Municipal Authority to house no. 208 – replacement of water mains
I50047
Velká Polom - DTP – renovation of water mains
I50072
Water tank Nové Těchanovice Lhotka 250 – building redevelopment
I50082
Opava, Mostní, Sadová – replacement of water mains
I2772
Addition of measuring of released water in the waste water treatment plant –
1
st
stage
I2774
Waste water treatment plant Brušperk – renovation of the sludge dewatering
I2775
Waste water treatment plant Frýdek-Místek – renovation of the service building
I3858
Havířov - Bludovice, Rodinná – renovation of the AXL sewer
I3874
Karviná - Nové Město, Janáčkova, Erbenova – renovation of “BVIb5” and “BVIe”
sewers
I3875
Těrlicko, Hornická – renovation of the DN 300 sewer
I4724
Waste water treatment plant Kopřivnice – construction of the DN-3 secondary settling
tank
I4726
Waste water treatment plant Bílovec – intensification
I5678
Opava (Fügnerova) sludge pumping station – repair of the sump pump and
technology
I5684
Opava, Sadová – renovation of manholes in the sewerage system
137
The subject matter of the above contracts included the supply of construction work including material
and technological facilities, if any, and the relating comprehensive engineering work. Individual
contractual prices are always determined in the relevant contracts for work in line with the Act on
Prices and the Transfer Pricing Documentation applicable to related party transactions. The payment
terms and conditions, quality warranties and contractual fines are determined in line with the
Framework Agreement on General Construction Projects of 29 June 2015 and amendments thereto.
3. Other Contractual Relations
Related party:
Aqualia infraestructuras inženýring, s.r.o.
In the reporting period, supplies under the Master Agreement on General Organisation of
Investment Construction Projects of 29 June 2015 concluded between SmVaK Ostrava a.s., as
the client, and the related party, as the contractor, continued. The purpose of the agreement
was as follows: general organisation of construction projects, including engineering, preparation
of project documentation and supply of all data which are essential for issuance of zoning
permits, building permits and final acceptance of completed construction projects, with separate
contracts to be signed for each project. The price of for work under individual contracts for work
was set on the basis of the arm’s length principle pursuant to the Documentation on transfer
prices in related party transactions. The contract is concluded for an indefinite period of time
with a three-month notice period. According to the contract, the client SmVaK Ostrava a.s. may
withdraw from the contract in case of gross violation of the contractor’s obligations. On 12 March
2020, an amendment to the Master Agreement was concluded which stipulates the prices of
work effective in 2020.
Because the contractor failed to complete and hand over the project documentation or failed to
complete the construction work in time, SmVaK Ostrava a.s. imposed, in line with the contract
for work, a penalty of 0.05% of the price for the work for each day of default in two cases. The
billed contractual penalties were paid in full – they were offset against the agreed price of the
work.
In relation to the conclusion of the contract for the provision of IT services between Fomento de
Construcciones y Contratas, S.A. and El Corte Inglés, S. A., SmVaK Ostrava a.s. a fee for the
provision of these services charged to the related party as a percentage of the total agreed price
for the provided services and the share of the services actually used by the individual
companies, in the reporting period.
IN THE REPORTING PERIOD, PERFORMANCE CONTINUED TO BE PROVIDED UNDER THE PROCESSING
AGREEMENT CONCLUDED ON 9 MAY 2019 BETWEEN SMVAK OSTRAVA A.S., AS THE CONTROLLER,
AND THE RELATED PARTY, AS THE PROCESSOR, IN ORDER TO PROTECT PERSONAL DATA OF NATURAL
PERSONS AS PART OF THE FULFILMENT OF THE CONTRACTUAL RELATIONS CONCLUDED BY THE
CONTRACTING PARTIES.
SmVaK Ostrava a.s. ensured the assessment of the fulfilment of the conditions set in the
Documentation on transfer prices in related party transactions and subsequently billed a portion
of the cost of processing of the documentation to the related party.
138
Vodotech, spol. s r.o.
In the reporting period, supplies continued to be provided under the Processing Agreement of
23 May 2018 concluded between the related party, as the processor, and SmVaK Ostrava a.s.,
as the controller, in relation to a change in legislation on protection of personal data of natural
persons (GDPR), specifying the obligations of the parties in relation to the contract for the
provision of services – creation of copies, and contract for the provision of services – operation
of the call centre.
In relation to the conclusion of the contract for the provision of IT services between Fomento de
Construcciones y Contratas, S.A. and El Corte Inglés, S. A., in the reporting period SmVaK
Ostrava a.s. charged a fee for the provision of these services to the related party as a percentage
of the total agreed price for the provided services and the share of the services actually used by
the individual companies.
In the reporting period, performance under an agreement between SmVaK Ostrava a. s. and
the related party for the common use of the Labsystem software continued. Its servicing and
repairs are provided by SmVaK Ostrava a. s., and the Company rebills a proportionate part of
these costs to the related party.
On 24 November 2020, the Master Contract for a Comprehensive Construction of Technological
Structures was concluded between SmVaK Ostrava a.s., as the client, and the related party, as
the contractor, the subject matter of which is a comprehensive construction of technological
structures, including related engineering activities. Individual contracts for work will be
concluded for individual structures. The price for the work under individual concluded contracts
for work is set on the basis of the arm’s length principle pursuant to the Documentation on
transfer prices in related party transactions. The contract is concluded for an indefinite period of
time with a three-month notice period. According to the contract, the client SmVaK Ostrava a.s.
may withdraw from the contract in case of gross violation of the contractor’s obligations. The
contract has been in effect since 1 January 2021.
SmVaK Ostrava a.s. ensured the assessment of the fulfilment of the conditions set in the
Documentation on transfer prices in related party transactions and subsequently recharged a
portion of the cost of processing to the related party.
FOMENTO DE CONSTRUCCIONES Y CONTRATAS, S. A.
In the reporting period, performance continued by Fomento de Construcciones y Contratas, S.
A., which concluded a contract for all FCC Grupo companies for the provision of IT services
with El Corte Inglés, S. A., with its registered office at C/ Hermosilla, 112. 2800920 Madrid,
Spain. Based on this contract, the related party charges a fee for the provision of these services
to the individual group companies as a percentage of the total agreed price for the provided
services and the share of the services actually used by the individual companies. By concluding
the contact for the entire group, the controlled entity received advantages in form of high quality
of the services provided and a favourable price for the provision of these services.
139
FCC AQUALIA, S.A.
In the reporting period, on 14 February 2020, the agreement on consulting services was signed
by the related party, as the service provider, and SmVaK Ostrava a.s., as the client. The subject
matter of the contract was the preparation of bids for tenders, in concession award procedures,
for operators of water networks and sewage systems in the Czech Republic and abroad, the
supervision over and check of construction projects, preparation of optimising measures for
activities other than core business carried out by SmVaK Ostrava, a.s. and consulting and
advisory in the preparation of the investment plan for 2021 from the point of view of the most
appropriate technology and economic solutions. The contract was signed for the period from 1
January 2020 to 31 December 2020. The price for the services provided was specified in line
with laws and arm’s length principle pursuant to the Documentation on transfer prices in related
party transactions.
In the reporting period, performance under the Agreement on the Provision of Information
Technology Services of 6 December 2019 continued, the subject matter of which is provision of
services between the related party, as the provider, and SmVaK Ostrava a.s., as the client. The
agreement is concluded for a definite period of time; if the contracting parties do not inform the
other contracting party that they do not insist on the continuance of the agreement, by a written
notification delivered to the other contracting party no less than 20 days before the end of the
validity of the agreement, the validity of the agreement will be extended to another calendar year.
The price for the provided services was set pursuant to the contract for the provision of IT
services concluded between FCC Aqualia, S. A. and Fomento de Construcciones y Contratas,
S. A. of 28 September 2018. On
10 June 2020, Amendment No. 1 thereto was concluded, its subject matter is a specification of
the scope of services and price arrangement taking into account the change in the subject of the
performance.
In the reporting period SmVaK Ostrava a.s. arranged for the rent of an apartment for an employee
of the related party’s branch in the Czech Republic. The rent and services relating to the use of
the apartment were recharged to the related party in full.
In the reporting period, SmVaK Ostrava a.s. let a portion of the business premises in Prague
that SmVaK Ostrava leases for the Organisational Development Division for use by a branch of
the related party. In relation to this, SmVaK Ostrava a.s. charged to the related party a
proportionate part of the rent and payment for services related to the use of these premises.
In the reporting period, performance continued in line with the contract for the provision of
software product licences including the provision of technical support and updating the software
products concluded between Fomento de Construcciones y Contratas, S. A. and Microsoft,
based on which the relevant licences may be used by all members of FCC Grupo. Based on
this fact, fees are charged to the controlled entity for the licences used in line with the prices
paid to the owner by Microsoft, in the amount corresponding to the number of licences used by
SmVaK Ostrava a.s.
HIDROTEC, Tecnologia del Agua, S.L.U.
In the reporting period, performance under the Contract for the Provision of Advisory Services
in the area of safety and occupational health protection continued. The contract was concluded
for one year and unless this contract is terminated in writing by either of the parties at least two
months before the end of the period of validity, the contractual relationship will be extended for
another year under the same pricing conditions. The price for the subject of this contract is set
by agreement of the parties on the arm’s length basis as the price common at the relevant place
and time.
V.
OTHER LEGAL ACTS
140
In the reporting period, no legal acts were made, or contracts concluded, for the benefit of the
controlling entity, entities controlled by the same controlling entity and other group entities, outside
standard legal acts of the controlling entity as part of the exercise of its rights, as the shareholder of
the controlled entity.
The Board of Directors of SmVaK Ostrava a.s. declares that it is not aware of any other legal acts
performed between the controlled entity, the controlling entity and other entities in the Group which
would result in other contracts and agreements than those which are mentioned above. The Board
of Directors declares that it is not aware of any acts performed between the controlled entity, the
controlling entity and other entities in the Group which would be made at the initiative or in the interest
of the controlling entity or the ultimate controlling entity in the Group.
VI.
OTHER MEASURES
In the reporting period, no legal acts were made and no contracts were concluded for the benefit of
the controlling entity, entities controlled by the same controlling entity and other group entities,
outside standard legal acts performed by the controlling entity as part of the exercise of its rights as
the shareholder of the controlled entity.
VII.
SUPPLIES AND CONSIDERATIONS
No other performance or consideration out of the scope of typical performance or consideration
provided by the controlled entity in relation to the controlling entity being the shareholder of the
controlled entity were provided or adopted during the reporting period in the interest or at initiative of
the controlling entity and entities controlled by the same controlling entity or other entities in the
Group.
VIII.
ADVANTAGES, DISADVANTAGES AND RISKS RESULTING FROM THE RELATIONS
BETWEEN THE ENTITIES IN THE GROUP
The Board of Directors is not aware of any fact due to which the controlled entity may experience
any disadvantage resulting from its membership in FCC Grupo.
The controlled entity enjoys the following advantages arising from its membership in the Group:
- It uses warranties provided by the controlling entity of the Group.
- It uses the Group’s promotional activities.
- It uses the licences for know-how which comprise the experience and expertise as well as
operational and commercial knowledge gained throughout the operation of water networks and
sewage systems.
- It has access to more advantageous prices for services, work and licences on the basis of
contracts signed by the controlling entity for companies from the Group.
The controlled entity is not exposed to any risks resulting from being part of the Group as its business
does not depend on other companies from the Group and is not influenced by activities carried out
by any other Group members.
IX.
141
INFORMATION ABOUT DETRIMENT
It follows from the review and evaluation of the contractual relations and legal acts between the
controlled entity, the controlling entity, and other entities in the Group that the controlled entity has
not suffered any detriment. All above listed contracts and contractual relationships were concluded
and all legal acts were performed under terms and conditions and at prices typical of business
relations for that place of performance.
The transactions between related parties were performed under arm’s length prices common at the
place of performance and in business relations.
Unpaid amounts were not secured and will be settled in the form of bank transfers. No guarantees
were received or provided.
X.
CONCLUSION
Severomoravské vodovody a kanalizace Ostrava a. s. declares that during the reporting period it did
not conclude any other contract with the controlling entity, with the entities controlled by the same
controlling entity or with any other entity from the Group, that it was not in any contractual relationship
with the listed entities and that it did not provide any performance or consideration other than those
listed above.
This report was prepared by the Board of Directors of Severomoravské vodovody a kanalizace
Ostrava a.s. and was approved on 18 February 2021. In addition, it was submitted for review to the
Supervisory Board and to the audit company that audited the 2020 financial statements and
consistency between the 2020 Annual Report and the 2020 financial statements in accordance with
the Act on Auditors, the Business Corporations Act and the Accounting Act.
As Severomoravské vodovody a kanalizace Ostrava a.s. is required pursuant to Act No. 256/2004
Coll. on Capital Market Transactions to prepare the Annual Report, this report will be attached
thereto as an appendix.
The financial scope of the supplies provided between the controlled entity, the controlling entity,
entities controlled by the same controlling entity and other entities in the Group pursuant to the
information provided in this report is quantified in the notes to the financial statements for the year
ended 31 December 2020 and the following overview.
Transactions conducted with the related parties in 2020 are listed in the tables below. The
transactions were conducted under conditions typical of business relations and the prices were set
on the basis of the arm’s length principle and documentation stipulating prices for transactions
between related parties.
All amounts are presented in thousands of Czech crowns.
Income generated with related parties
2020
Entity
Relation to the Company
Services
Interest
Total
Vodotech, spol. s.r.o.
Group company
1,501
0
1,501
Aqualia infraestructuras inženýring, s.r.o.
Group company
9,141
0
9,141
142
FCC Česká republika s.r.o.
Group company
427
0
427
FCC Aqualia, S. A., organizační složka, cz
Group company
12
0
12
Total
11,081
0
11,081
2019
(CZK thousand)
Entity
Relation to the Company
Services
Interest
Total
Vodotech, spol. s r.o.
Group company
1,120
0
1,120
Aqualia infraestructuras inženýring, s.r.o.
Group company
5,377
0
5,377
FCC Česká republika s.r.o.
Group company
555
0
555
Total
7,052
0
7,052
Purchases from related parties
2020
Entity
Relation to the Company
Services
Other
expenses
Total
Vodotech, spol. s r.o.
Group company
73,592
14
73,606
Aqualia infraestructuras inženýring, s.r.o.
Group company
106,502
0
106,502
Fomento de Construcciones y Contratas, S.
A.
Group company
4,288
0
4,288
Aqualia Czech, S. L.
Parent company
3,913
0
3,913
FCC Aqualia, S. A.
Group company
2,926
0
2,926
FCC Česká republika s.r.o.
Group company
3,982
0
3,982
HIDROTEC, Tecnologia del Aqua, S. L. U.
Group company
433
0
433
OBSED a. s.
Group company
22,074
0
22,074
Total
217,710
14
217,724
2019
(CZK thousand)
Entity
Relation to the Company
Services
Other
expenses
Total
Vodotech, spol. s r.o.
Group company
58,395
42
58,437
Aqualia infraestructuras inženýring, s.r.o.
Group company
110,968
0
110,968
Fomento de Construcciones y Contratas, S.A.
Group company
3,756
0
3,756
Aqualia Czech, S.L.
Parent company
3,825
0
3,825
FCC Aqualia, S.A.
Group company
2,838
0
2,838
FCC Česká republika s.r.o.
Group company
3,762
0
3,762
HIDROTEC, Tecnologia del Aqua, S. L. U.
Group company
87
0
87
OBSED a.s.
Group company
21,841
0
21,841
Total
205,472
42
205,514
Acquisitions of fixed assets from related parties
(CZK thousand)
Entity
Relation to the Company
2020
2019
Vodotech, spol. s r.o.
Group company
4,994
6,871
Aqualia infraestructuras inženýring, s.r.o.
Group company
575,869
568,203
FCC Aqualia, S.A.
Group company
0
0
Fomento de Construcciones y Contratas, S.A.
Group company
0
0
FCC Aqualia, S.A., organizační složka, cz
Group company
5,301
5,049
Total
586,164
580,123
143
Receivables from related parties
(CZK thousand)
Entity
31 December 2020
31 December 2019
Trade receivables
Vodotech, spol. s r.o.
50
92
Aqualia infraestructuras inženýring, s.r.o.
2,163
1,262
FCC Aqualia, S.A., organizační složka, cz
58
32
FCC Česká republika s.r.o.
0
59
Total
2,271
1,445
Payables to related parties
(CZK thousand)
Entity
31 December 2020
31 December 2019
Trade payables
Vodotech, spol. s r.o.
10,577
7,512
Aqualia infraestructuras inženýring, s.r.o.
275,149
237,584
FCC Aqualia, S.A.,organizační složka, cz
0
0
Fomento de Contrucciones y Contracta, S.A.
484
438
FCC Česká republika s.r.o.
445
356
HIDROTEC, Tecnologia del Aqua, S. L. U.
417
87
OBSED a.s.
2,193
2,698
FCC Aqualia, S.A.
239
2,777
Total trade payables
289,504
251,452
The Board of Directors of Severomoravské vodovody a kanalizace Ostrava a.s. declares that this
report has been prepared with due managerial care and that it comprises all facts which known and
available to it as of the date of preparation.
In Ostrava on 18 February 2021
Signatures of Members of the Board of Directors:
Miroslav Kyncl
Vice-Chairman of the Board of Directors
Václav Holeček
Member of the Board of Directors
144
The list of companies of FCC Grupo
as at 31 December 2020
Name
Registered office
Ownership
interest
Abastecimientos y Saneamientos del Narte, S.A.,
Sole – Shareholder Company
Uruguay, 11 – Vigo (Pontevedra)
100,00
Abrantaqua – Servico de Aguas Residuais
Urbanas de Municipio de Abrantes, S.A
Portugal
60,00
Acque di Calianissetta, S. PA.
Italy
98,48
Aigües de Vallirana, S.A., Sole - Shareholder
Company
Conca de Tremp, 14 - Vallirana
(Barcelona), Spain
100,00
Aisa, D.O.O., Mastar
Bosnia-Herzegovina
100,00
Aqua Campiña, S.A.
Avda. Blas Infante, 6 - Ecija (Sevilla),
Spain
90,00
Aquacartaya, S.L.
Av. San Francisco Javier, 27 2o -
Sevilla, Spain
100,00
Aquaelvas - Aguas de Elvas, S.A.
Portugal
100,00
Aquafundalia - Agua Do Fundao, S.A.
Portugal
100,00
Aquajarez, S.L.
Cristalería, 27. Pol. Ind. Rondo Oeste -
Jerez de la Frontera (Cádiz)
51,00
Aqualia Czech, S.L.
Av. Camino de Santiago, 40 - Madrid,
Spain
100,00
FCC Aqualia, S.A.
Federico Salmón, 13 - Madrid, Spain
100,00
Aqualia Industrial Solutions, S.A., Sole-
Shaareholder Company (5)
Federico Salmón, 13 - Madrid, Spain
100,00
Aqualia Infraestructuras Inženýring, s.r.o.
Slavníkovců 571/21, Mariánské Hory,
Ostrava, Czech Republic
100,00
Aqualia Infraestructuras de México, S.A. de C.V.
Mexico
100,00
FCC Aqualia, S.L., affiliated company
Jungmanova 30, Praha, Czech
Republic
100,00
Aqualia Infraestructuras Montenegro (AIM)
D.O.O. Niksic
Montenegro, Spain
100,00
Aqualia New Europe, B.V
The Netherlands
51,00
Aquamaior - Aguas de Compo Maior, S.A.
Portugal
99,92
Cartagua, Aguas de Cartaxo, S.A.
Portugal
60,00
Colaboración Gestión y Asistencia, S.A.
Federico Salmón, 13 - Madrid, Spain
100,00
Compañía Onubense de Aguas, S.A.
Avda. Martín Alonso Pinzón, 8 - Huelva,
Spain
60,00
Conservación y Sistemas, S.A.
Federico Salmón, 13 - Madrid, Spain
100,00
Depurlan, 11
San Miguel, 4.3 B - Zaragoza.Spain
100,00
Depurtebo, S.A.
San Pedro, 57 - Zuera (Zargoza), Spain
100,00
Empresa Mixta de Conservación de la Estación
Depuradora de Aguas Residuales de Butarque,
S.A.
Princesa, 3 - Madrid, Spain
70,00
Entenmanser, S.A.
Castillo, 13 - Adeje (Santa Cruz de
Tenerife,Spain)
97,00
F.S. Colaboración y Asistencia, S.A.
Av. Camino de Santiago, 40 -
Madrid,Spain
100,00
Hidrotec Technologia del Agua, S.L. Sale -
Shareholder Company
Av. San Francisco Javier, 15 -
Sevilla,Spain
100,00
145
Infraestructuras y Distribución General de Aguas,
S.L.U.
La Presa, 14 - Adeje (Santa Cruz de
Tenerife),Spain
100,00
Iversora Riutort
Berlín, 38-43 - Barcelona, Spain
100,00
Vodotech spol. s.r.o.
Jaselská 220/47, Předměstí, 707 07
Opava, Czech Republic
100,00
Severomoravské vodovody a kanalizace Ostrava
a.s.
28. října 1235/169, Mariánské Hory,
709 00 Ostrava, Czech Republic
98,68
Alfonso Benitez, S.A.
Federico Salmón, 13 - Madrid,Spain
100,00
Aparcamientos Concertados, S.A.
Arquitecto Gaudí, 4 - Madrid, Spain
100,00
Armigesa, S.A.
Plaza de la Constitución s/n - Armilla
(Granada), Spain
51,00
Azincourt Investment, S.L., Sole-Shareholder
Company
Federico Salmón, 13-MadridSpain
100,00
Baltecma, Gestión de Residuos Industriales, S.L.
Contradors, parcela 34 P.I. Marratxi -
Marratxi (Balearic Islands)
70,00
Beta de Administración, S.A.
Av. Camino de Santiago, 40 - Madrid,
Spain
100,00
C.G.T. Corporación General de Transportes, S.A.
Av. Camino de Santiago, 40 -
Madrid,Spain
100,00
Camusa Corporación Americana de Mobiliario
Urbano, S.A.
Argentina
100,00
Castellana de Servicios, S.A.
Federico Salmón, 13-Madrid, Spain
100,00
Cemusa Amazonia, S.A.
Brazil
100,00
Cemusa Boston, LLC
USA
100,00
Cemusa Brasilia, S.A.
Brazil
100,00
Cemusa do Brasil, Ltda
Brazil
100,00
Cemusa, Corporación Europea de Mobiliario
Urbano, S.A.
Francisco Soncha, 24 - Madrid,Spain
100,00
Cemusa, Inc.
USA
100,00
Cemusa Italia, S.R.L.
Italy
100,00
Cemusa NY, LLC
USA
100,00
Cemusa Portugal, Companhia Mobiliaro Urbano e
Publicidade, S.A.
Portugal
100,00
Cemusa Rio, S.A.
Brazil
100,00
Cemusa Salvador, S.A.
Brazil
65,00
Compañía Catalana de Servicios, S.A.
Balmes, 36 - Barcelona,Spain
100,00
Compañía Control de Residuos, S.L.
Peňa Redonda, 27 P.I. Silvota - Llanera
(Asturias, Spain)
64,00
Compaňia Control de Residuos, S.L.
Ulises, 18 - Madrid, Spain
100,00
Corporación Inmobiliaria Ibérica, S.A.
Ulises, 18 - Madrid,Spain
100,00
Dédalo Patrimonial, S.L., Sole- Shareholder
Company
Federico Salmón, 13-Madrid,Spain
100,00
Ecoactiva de Medio Ambiente, S.A.
Ctra. Puebla Albortón a Zaragoza km
25 Zaragoza, Spain
60,00
Ecodeal-Gestao Integral de Residuos Industriais,
S.A.
Portugal
53,62
Ecogenesis Societé Anonime Rendering of
Cleansing and Waste Management Services
Greece
51,00
Ecoparque Mancomunidad del Este, S.A.
Federico Salmón, 13-Madrid, Spain
100,00
Egypt Environmental Services, S.A.E.
Egypt
100,00
Ekostone Aridos Siderúrgicos, S.L.
Las Mercedes, 25 - Las Arenas
(Vizcaya)
51,00
Empresa Comarcal de Serveis Medioambientals
del Baix Penedés - ECOBP, S.L.
Plaza del Centre, 3 - El Vendrell
(Tarragona), Spain
66,60
146
Empresa Municipal de Desarrollo Sostenible
Ambiental de Úbeda, S.L.
Plaza Vázquez de Molina, s/n - Úbeda
(Jáen), Spain
90,00
Enviropower Investments Limited
United Kingdom
100,00
Equipos y Procesos, S.A.
Basílica, 19 - Madrid,Spain
80,73
Europea de Tratamiento de Residuos
Industriales, S.A.
Federico Salmón, 13 - Madrid, Spain
100,00
FCC Ambito, S.A., Sole-Shareholder Company
Federico Salmón, 13 - Madrid, Spain
100,00
FCC Enviromental, LIc.
USA
100,00
FCC Enviroment Services (UK) Limited
United Kingdom
100,00
FCC Logística S.A., Sole - Shareholder Company
Buenos Aires, 10 P.I. Comporroso -
Alcalá de Henares (Madrid, Spain)
100,00
FCC Logística Portugal, S.A.
Portugal
99,90
FCC Lubricants LIc.
USA
51,00
FCC Medio Ambiente, S.A.
Federico Salmón, 13 - Madrid, Spain
100,00
FCC Versia, S.A.
Av. Camino de Santiago, 40 - Madrid,
Spain
100,00
Focsa Servicos de Saneamento Urbano de
Portugal, S.A.
Portugal
100,00
Gamasur Campo de Gibraltar, S.L.
Antigua Ctra. de Jimena de la Frantera,
s/n - Los Barrios (Cádiz), Spain
85,00
Gandia Serveis Urbans, S.A.
Llanterners, 6 - Gandía (Valencia),
Spain
65,00
Geneus Canarias, S.L., Sala-Shareholder
Company
Electricista, 2. U.L. de Salinetas - Telde
(Las Pamas), Spain
100,00
GERAL I.S.V. Brasil, Ldo
Brazil
100,00
Gestió i Recuperació de Terrenys, S.A., Sole-
Shareholder Company
Rambla de Catalunya, 2-4 - Barcelona,
Spain
80,00
Quail spol. s.r.o.
Dolní 876/1, České Budějovice 3,
Czech Republic
100,00
FCC Austria Abfall Service AG
Austria
100,00
FCC Freistadt Abfall Service GmbH
Austria
100,00
FCC Halbenrein Abfall Service Gessellschaft
m.b.H. & Co Nfg KG
Austria
100,00
FCC Mostviertel Abfall Service GmbH
Austria
100,00
FCC Neunkirchen Abfall Service GmbH
Austria
100,00
FCC Austria Abfall Service AG, Zisterdorf
Austria
100,00
FCC Halbenrein Abfall Service Gessellschaft
m.b.H. & Co Nfg KG
Austria
100,00
FCC Industrieviertel Abfall Service Gesellschaft
m.b.H. & Co Nfg KG
Austria
100,00
FCC Wiener Neustadt Abfall Service
Gessellschaft m.b.H.
Austria
100,00
FCC České Budějovice, s.r.o.
Dolní 876/1, České Budějovice, Czech
Republic
75,00
FCC Dačice, s.r.o.
U Stadionu 50, Dačice, Czech Republic
60,00
ASTV s.r.o.
Jedovnická 4247/2, Židenice, Brno,
Czech Republic
49,00
FCC EKO d.o.o.
Serbia
100,00
FCC Polska Sp. z o.o.
Poland
100,00
FCC EKO Znojmo, s.r.o.
Dobšická 3639/10a, Znojmo,Czech
Republic
49,72
FCC Únanov, s.r.o.
Unánov 385, Czech Republic
66,00
A.S.A. Finanzdienstleistungen, GmbH
Austria
100,00
FCC Hódmezővásárhely Köztisztasági Ltd.
Hungary
61,83
147
FCC HP spol. s.r.o.
Ďáblická 791/89, Praha 8, Czech
Republic
100,00
FCC Environment CEE GmbH
2325 Himberg, Hans-Hruschka-Gasse
9, Austria
100,00
FCC Kikinda d.o.o
Serbia
80,00
FCC Liberec, s.r.o.
Mydlářská 105/10, Liberec, Czech
Republic
55,00
FCC Lubliniec Sp. z o.o.
Poland
61,97
FCC Magyarország Ltd.
Hungary
100,00
A.S.A. Mazedonia dooel
Macedonia
100,00
FCC Litovel, s.r.o.
Cholinská 1008, Litovel, Czech
Republic
49,00
FCC Environment România S.R.L.
Romania
100,00
FCC Slovensko, s.r.o.
Slovakia
100,00
FCC Žabovřesky, s.r.o.
Korejská 3082/2, Žabovřesky, Czech
Republic
89,00
FCC Praha, s.r.o.
Hyacintová 3181, Praha 10, Czech
Republic
100,00
FCC Tarnobrzeg Sp. z o.o.
Poland
60,00
FCC Trnava, s.r.o.
Slovakia
50,00
FCC Prostějov, s.r.o.
Průmyslová 407/1b, Prostějov, Czech
Republic
49,00
FCC Vrbak d.o.o. Lapovo
Serbia
51,02
FCC Žabčice, s.r.o.
Oulehly 450, Žabčice, Czech Republic
80,00
FCC Zohor, s.r.o.
Serbia
80,00
FCC Žabčice spol. s.r.o.
Slovakia
85,00
FCC BEC, s.r.o.
Prosmycká 2/88, Lovosice,Czech
Republic
100,00
FCC Entsorga Entsorgungsgesellschaft m.b.H. &
Co. Nfg KG
Poland
100,00
Entsorga Entsorgungs, GmbH, Nfg KG
Austria
100,00
Erd-Kom Érdi Kommunális Hulladékkezelö
Hungary
90,00
Inerta Abfallbehandlungs, GmbH
Austria
100,00
Miejskie Przedsiebiorstwo Gospodarki
Komunalnej, sp. z.o.o. Zabrze
Poland
80,00
Obsed a.s.
Nemocniční 998/14, Moravská
Ostrava,Czech Republic
100,00
Quail spol. s.r.o.
Dolní 876/1, České Budějovice 3,
Czech Republic
100,00
FCC Regios A.S.
Úholičky 215, Velké Přílepy,Czech
Republic
99,99
Siewierskie Przedsiebiorstwo Gospodarki
Komunalnej, sp. z.o.o.
Poland
60,00
FCC Uhy spol. s.r.o.
Uhy 160, Czech Republic
100,00
FCC Slovensko, s.r.o.
Slovakia
100,00
FCC Textil2Use GmbH
Austria
100,00
Valmax Impex, S.R.L.
Romania
60,00
3C Holding Limitet
United Kingdom
100,00
3C Waste Limited
United Kingdom
100,00
Allington O & M Services Limited
United Kingdom
100,00
T Shooter Limited
United Kingdom
100,00
Waste Recovery Limited
United Kingdom
100,00
Waste Recycling Group (Central) Limited
United Kingdom
100,00
148
Waste Recycling Group (UK) Limited
United Kingdom
100,00
Waste Recycling Group (Scotland) Limited
United Kingdom
100,00
Waste Recysling Group (Yorkshire) Limited
United Kingdom
100,00
Wastenotts (Reclamation) Limited
United Kingdom
100,00
Wastenotts O & M Services Limited
United Kingdom
100,00
Welbeck Waste Management Limited
United Kingdom
100,00
WRG (Midlands) Limited
United Kingdom
100,00
WRG (Northern) Limited
United Kingdom
100,00
WRG Acquisitions 2 Limited
United Kingdom
100,00
WRG Environmental Limited
United Kingdom
100,00
WRG Waste Services Limited
United Kingdom
100,00
Integreciones Ambientales de Cantabria, S.A.
Monte de Carceña Cr CA-924 PK 3,
280 - Castañeda (Cantabria), Spain
90,00
International Petroleum Corp. of. Delaware
USA
100,00
International Services Inc, S.A.,Unipersonal
Av. Camino de Santiago, 40 - Madrid,
Spain
100,00
Jaime Franquesa, S.A.
Pl. Zona Franca Sector B calle D 49 -
Barcelona, Spain
100,00
Jaume Oro, S.L
Av. Garrigues, 15 - Bellpuig (Lleida),
Spain
100,00
Limpieza e Higiene de Cartagena, S.A.
Luis Pasteur, 6 - Cartagena (Murcia),
Spain
90,00
Limpezas Urbanas de Mallorca, S.A.
Ctra. Santa Margolida-Can Picafort-
Santa Margalida (Balearic Islands)
100,00
Manipulación y Recuperación MAREPA, S.A.
Av. San Martin de Valdeiglesias, 22 -
Alcorcón (Madrid)
100,00
Municipal de Serveis, S.A. - being dissolved
Joan Torro i Cabratosa, 7 - Girona,
Spain
80,00
Newlog Logistica, S.A., Sole-Shareholder
Company
Federico Salmón, 13 - Madrid, Spain
100,00
Recuperació de Pedreres, S.L.
Rambla de Catalunya, 2 - Barcelona,
Spain
80,00
Saneamiento y Servicios, S.A.
Federico Salmón, 13 - Madrid, Spain
100,00
Serveis d´Escommbreries i Neteja, S.A.
Coure, s/n - Pl, Riu Clar - Tarragona,
Spain
100,00
Servicios de Levante, S.A.
Camino Pla Museros, s/n - Almazora
(Castellón), Spain
100,00
Servicios Especiales de Limpieza, S.A.
Federico Salmón, 13 - Madrid, Spain
100,00
Serveis Municipals de Neteja de Girona, S.A.
Pl. del Ví, 1 - Girona, Spain
75,00
Sistemas y Vehiculos de Alta Tecnología, S.A.
Federico Salmón, 13 - Madrid, Spain
100,00
Societat Municipal Medioambiental d´lgualda, S.L.
Pl. de I´Ajuntament, 1 - Igualada
(Barcelona), Spain
65,91
Telford & Wrekin Services, Ltd
United Kingdom
75,00
Tratamientos y Recuperaciones Industriales, S.A.
Rambla de Catalunza, 2-4, P.5 /
Barcelona, Spain
75,00
Valoración y Tratamiento de Residuos Urbanos,
S.A.
Riu Magre, 6 - Pl. Patada del Cid -
Quart de Poblet (Valencia, Spain)
80,00
Valorización y Tratamiento de Residuos, S.A.
Alameda de Mazarredo, 15-4 A - Bilbao
(Vizcaya), Spain
80,00
Zona Verde - Promocao e Marketing Limitada
Portugal
100,00
Allington Waste Company Limited
United Kingdom
100,00
Anti-Waste (Restortion) Limited
United Kingdom
100,00
Anti-Waste Limited
United Kingdom
100,00
Arnold Waste Disposal Limited
United Kingdom
100,00
149
BDR Property Limited
United Kingdom
80,02
BDR Waste Disposal Limited
United Kingdom
100,00
Darrington Quarries Limited
United Kingdom
100,00
Derbyshire Waste Limited
United Kingdom
100,00
East Waste Limited
United Kingdom
100,00
FCC Buckinghamshire Holdings Limited
United Kingdom
100,00
FCC Buckinghamshire Limited
United Kingdom
100,00
FCC Buckinghamshire (Support Services) Limited
United Kingdom
100,00
FCC Environmental Services UK Limited
United Kingdom
100,00
FCC Evnironment )UK) Limited
United Kingdom
100,00
FCC Environment (Lincolnshire), Ltd
United Kingdom
100,00
FCC Environment (Berkshire), Ltd.
United Kingdom
100,00
FCC Environment Limited
United Kingdom
100,00
FCC PFI Holdings Limited
United Kingdom
100,00
FCC Recycling (UK) Limited
United Kingdom
100,00
FCC Waste Services (UK) Limited
United Kingdom
100,00
FCC Wrexham PFI (Phase II Holding), Ltd.
United Kingdom
100,00
FCC Wrexham PFI (Phase II ), Ltd.
United Kingdom
100,00
FCC Wrexham PFI Limited
United Kingdom
100,00
FCC Wrexham PFI Holdings Limited
United Kingdom
100,00
Finstop Limited
United Kingdom
100,00
Focsa Services (UK) Limited
United Kingdom
100,00
Hykeham O&M Services Limited
United Kingdom
100,00
Integrated Waste Management Limited
United Kingdom
100,00
Kent Conservation & Management Lmited
United Kingdom
100,00
Kent Energy Limited
United Kingdom
100,00
Kent Enviropower Limited
United Kingdom
100,00
Landfill Management Limited
United Kingdom
100,00
Lincwaste Limited
United Kingdom
100,00
Norfolk Waste Limited
United Kingdom
100,00
Pennine Waste Management Limited
United Kingdom
100,00
RE3 Holding Limited
United Kingdom
100,00
RE3 Limited
United Kingdom
100,00
FCC Industrial Colombia, S.A.S.
Colombia
100,00
FCC Industrial de Panamá, S.A.
Panama
100,00
FCC Industrial e Infraestructuras Energéticas,
S.A., Sole - Shareholder Company
Av. Camino de Santiago, 40 - Madrid,
Spain
100,00
FCC Industrial Perú, S.A.
Peru
100,00
FCC Industrial UK Limited
United Kingdom
100,00
FCC Industriale, SRL
Italy
100,00
FCC Saudi Company
Saudi Arabia
100,00
FCC Servicios Industiales y Energéticos México,
S.A. deC.V.
Mexico
100,00
Fomento de Construcciones y Contratas Canada,
Ltda.
Canada
100,00
Fomento de Construcciones y Contatos
Construction Ireland Limited
Ireland
100,00
Gavisa Portugal Montagens Eléctricas, Lda
Portugal
97,00
Ibervia Construcciones y Contratas, S.L.
Av. Camino de Santiago, 40 - Madrid,
Spain
100,00
Impulsora de proyectos PROSERME, S.A. de
C.V.
Mexico
100,00
150
M&S Concesiones, S.A.
Costa Rica
100,00
Mantenimiento de Infraestructuras, S.A.
Acanto, 22 - Madrid, Spain
100,00
Megaplás, S.A.
Hilanderas, 4-14 - La Poveda - Arganda
del Rey (Madrid), Spain
100,00
Megaplás Italia, S.p.A.
Italy
100,00
Matre, S.L.
Balmes, 36 - Barcelona, Spain
100,00
Moviterra, S.A.
Balmes, 36 - Barcelona, Spain
100,00
Naturaleza, Urbanismo y Medio Ambiente, S.A.
Av. Camino de Santiago, 40 - Madrid,
Spain
100,00
Nevasa Inversión, S.L.
Av. Camino de Santiago, 40 - Madrid,
Spain
100,00
PPP Infraestrcture Investments, B.V.
Netherlands
100,00
Participaciones Teide, S.A.
Av. Camino de Santiago, 40 - Madrid,
Spain
100,00
Pedrera Les Gavarres, S.L.
Balmes, 36 - Barcelona, Spain
100,00
Pinturas Joque, S.L.
Acanto, 22 - Madrid, Spain
100,00
Prefabricados Delta, S.A.
Federico Salmón, 13 - Madrid, Spain
100,00
Proyectos y Servicios, S.A.
Acanto, 22 - Madrid, Spain
100,00
Ramalho Rosa Cobetar Sociedade de
Construcoes, S.A.
Portugal
100,00
Serviá Contó, S.A.
Balmes, 36 - Barcelona, Spain
100,00
Servicios Dos Reis, S.A. de CV
Mexico
100,00
Sincler, S.A., Sole-Shareholder Company
Av.Camino De Santiago, 40 - Madrid,
Spain
100,00
Tema Concesionaria, S.A.
Porto Pi, 8 - Palma de Mallorca
(Balearic Islands), Spain
100,00
Tulsa Inversión, S.L.
Av. Camino de Santiago, 40 - Madrid,
Spain
100,00
Vela Borovica Koncern, D.O.O.
Croatia
95,00
Vialia Sociedad Gestora de Concesiones de
Infraestructuras, S.L.
Acanto, 22 - Madrid, Spain
100,00
Sociedad Española de Aguas Filtradas, S.A.
Av. Camino de Santiago, 40 - Madrid,
Spain
100,00
Sociedad Ibérica del Agua, S.I.A, S.A., Sole-
Shareholder Company
Av. Camino de Santiago, 40 - Madrid,
Spain
100,00
Tratamiento Industrial de Aguas, S.A.
Federico Salmón, 13-Madrid, Spain
100,00
ACE Scutmadeira Sistemas de Gestao e Controlo
de Tráfego
Portugal
100,00
Alpetrol S.A.
Av. Camino de Santiago, 40 - Madrid,
Spain
100,00
Alpine Consulting d.o.o.
Slovenia
100,00
Aridos de Melo, S.L.
Finca la Barca y el Ballestar, s/n -
Barajas de Melo (Cuenca), Spain
100,00
Autovía Conquense, S.A.
Acanto, 22 - Madrid, Spain
100,00
BBR Pretensados y Técnicas Especiales, S.L.
Av. Camino de Santiago, 40 - Madrid,
Spain
100,00
Binatec Al Maghreb, S.A.
Morocco
100,00
Concesionaria Túnel de Coatzacoalcos, S.A. de
C.V.
Mexico
85,59
Concesiones Viales de Costa Rica, S.A.
Costa Rica
100,00
Concesiones Viales S. de R.L. de C.V.
Mexico
99,97
Construcción y Filiales Mexicanas, S.A. de C.V.
Mexico
100,00
Construcción Infraestructuras y Filiales de
México, S.A. de C.V.
Mexico
52,00
151
Construcciones Hospitalarias, S.A.
Panama
100,00
Constructora Túnel de Coatzacoalcos, S.A. de
C.V.
Mexico
55,60
Contratos y Ventas, S.A.
Av. de Santander, 3-1o - OVideo
(Asturias), Spain
100,00
Desarrollo y Construcción DEYCO CRCA, S.A.
Costa Rica
100,00
Dezvoltare Infraestructura, S.A.
Romania
51,03
Dizara Inversión, S.L.
Av. Camino de Santiago, 40 - Madrid,
Spain
100,00
EHST - European High-Speed Trains SGPS, S.A.
Portugal
85,71
FCC Colombia, S.A.S.
Colombia
100,00
FCC Construcción, S.A.
Balmes, 36 - Barcelona, Spain
100,00
FCC Construcción de Centroamérica, S.A.
Costa Rica
100,00
FCC Construcción Chile, SPA
Chile
100,00
FCC Construcción Peru, S.A.C.
Peru
100,00
FCC Construcción Polska, z.o.o.
Poland
100,00
FCC Constructii Romania, S.A.
Romania
100,00
FCC Construction Hungary Kft
Hungary
100,00
FCC Construction I-95. Ltc.
USA
100,00
FCC Construction, Inc.
USA
100,00
FCC Construction International, B.V.
The Netherlands
100,00
FCC Construction Northern Ireland Limited
United Kingdom
100,00
FCC Construcoes do Brasil, Ltda.
Brazil
100,00
FCC Elliot UK Limited
United Kingdom
50,10
Socíeté des Ciments d´Enfidha
Tunisia
62,89
Tratamiento Escombros Almoguera, S.L.
José Abascal, 59 - Madrid, Spain
36,53
Uniland Acquisition Corporation
USA
72,58
Uniland Cementera, S.A.
Córcega, 299 - Barcelona, Spain
71,43
Uniland International, B.V.
Netherlands
71,58
Uniland Trading, B.V.
Netherlands
71,58
Enefi Energía, S.A. Sole-Shareholder, Company
Federico Salmón, 13-Madrid, Spain
100,00
Enerstar Villena, S.A.
Maestro Chanzá, 3 - Alicante, Spain
57,80
Eolica Calvent, S.L.
Balmes, 36 - Barcelona, Spain
80,05
Ethern Electric Power
Federico Salmón, 13-Madrid, Spain
100,00
FCC Energía Aragón, S.L
Manuel Lasala, 36 - Zaragoza, Spain
100,00
FCC Energía Aragón II, S.L.
Manuel Lasala, 36 - Zaragoza, Spain
100,00
FCC Energía USA, S.L, Sale-Shareholder
Company
Federico Salmón, 13 - Madrid, Spain
100,00
FCC Power Generation, S.L., Unipersonal
Federico Salmón, 13 - Madrid, Spain
100,00
FM Green Power Investments, S.L.
Federico Salmón, 13 - Madrid, Spain
100,00
Fomento Internacional Focsa, S.A., Sole-
Shareholder Company
Federico Salmón, 13 - Madrid, Spain
100,00
Olivento, S.L., Sale-Shareholder Company
Federico Salmón, 13 - Madrid, Spain
100,00
Guzmán Energía, S.L.
Portada, 11 - Palma del Río (Córdoba),
Spain
70,00
Guzmán Energy O&M, S.L.
Federico Salmón, 13 - Madrid, Spain
70,00
Helios Patrimonial 1, S.L., Sole- Shareholder
Company
Federico Salmón, 13 - Madrid, Spain
100,00
Helios Patrimonial 2, S.L., Sole-Shareholder
Company
Federico Salmón, 13 - Madrid, Spain
100,00
Asesoría Financiera y de Gestión, S.A.
Federico Salmón, 13 - Madrid, Spain
100,00
Bvefdomintaena Beteiligungsverwaltung, GmbH
Austria
100,00
152
Compañía General de Servicios Empresariales,
S.A., Sole-Shareholder Company
Federico Salmón, 13 - Madrid, Spain
100,00
Corporación Española de Servicios, S.A.
Federico Salmón, 13 - Madrid, Spain
100,00
Europea de Gestión, S.A., Sole-Shareholder
Company
Federico Salmón, 13 - Madrid, Spain
100,00
F-C y C, S.L., Sole-Shareholder Company
Federico Salmón, 13 - Madrid, Spain
100,00
FCC 1, S.L., Sole-Shareholder Company
Federico Salmón, 13 - Madrid, Spain
100,00
FCC Construcciones y Contratos Internacional,
S.L., Sole - Shareholder Company
Federico Salmón, 13 - Madrid, Spain
100,00
FCC Fomento de Obras y Construcciones, S.L.
Sole-Shareholder Company
Federico Salmón, 13 - Madrid, Spain
100,00
FCC Inmobiliara Conycon, S.L., Sole-Shareholder
Company
Federico Salmón, 13 - Madrid, Spain
100,00
Fedemes, S.L.
Federico Salmón, 13 - Madrid, Spain
100,00
Per Gestora Inmobiliaria, S.L.
Federico Salmón, 13 - Madrid, Spain
100,00
Aridos de Navarra, S.A.
Estella, 6 - Pamplona (Navarra), Spain
47,24
Aridos Uniland, S.A., Sale-Shareholder Company
Córcega, 299 - Barcelona, Spain
71,43
Aridos y Premezclados, S.A. , Sole-Shareholder
Company
José Abascal, 59-Madrid, Spain
71,58
Atracem, S.A., Sole-Shrareholder Company
José Abascal, 59 - Madrid, Spain
71,58
Canteras de Aláiz, S.A
Dormilatéria, 72 - Pamplona (Navarra),
Spain
50,12
Cementos Alfa, S.A.
Josefina de la Maza, 4 PE Piasca -
Santander (Cantabria), Spain
63,03
Cementos Portland Valderrivas, S.A.
Dormilatéria, 72 - Pamplona (Navarra),
Spain
71,58
Cementos Villaverde, S.L., Sole-Shareholder
Company
Almagro, 26 - Madrid, Spain
71,58
Coastal Cement Corporation
USA
71,58
Compañía Auxilar de Bombeo de Hormigón, S.A.,
Sole-Shareholder Company
José Abascal, 59 - Madrid, Spain
71,58
Dragon Alfa Cement Limited
United Kingdom
69,64
Dragon Energy, LIc.
USA
79,08
Dragon Products Company, Inc.
USA
79,08
Giant Cement Company
USA
79,08
Giant Cement Holding, Inc.
USA
79,08
Giant Cement NC, Inc.
USA
79,08
Giant Cement Virgina, Inc.
USA
79,08
Giant Resource Recovery, Inc.
USA
79,08
Giant Resource Recovery - Arvonia, Inc.
USA
79,08
Giant Resource Recovery - Attalla, Inc.
USA
79,08
Giant Resource Recovery - Harleyville, Inc.
USA
79,08
Giant Resource Recovery - Sumter, Inc.
USA
79,08
Hormigones de la Jacetonia, S.A.
Llano de la Victoria - Jaca (Huesca),
Spain
49,43
Hormigones Reinosa, S.A., Sole-Shareholder
Company
Josefina de la Maza, 4 Pe Piasca -
Santander (Cantabria), Spain
63,03
Hormigones Uniland, S.L., Sole-Shareholder
Company
Córcega, 299 - Barcelona, Spain
71,43
Hormigones y Morteros Preparados, S.A., Sole-
Shareholder Company
José Abascal, 59 - Madrid, Spain
71,58
Horminal, S.L., Sale-Shareholder Company
José Abascal, 59 - Madrid, Spain
71,58
Keystone Cement Company
USA
71,58
153
Morteros Valderrivas, S.L., Sole-Shareholder
Company
José Abascal, 59 - Madrid, Spain
71,58
Participaciones Estella 6, S.L., Sole-Shareholder
Company
Estella, 6 - Pamplona (Navarra), Spain
71,58
Portland, S.L., Sole- Shareholder Company
José Abascal, 59 - Madrid, Spain
71,58
Prebesec Mallorca, S.A.
Santa Margarita i els, Barcelona, Spain
54,14
Prebesec, S.A., Sole-Shareholder Company
Córcega, 299 - Barcelona, Spain
71,43
Sechem, Inc.
USA
79,08
Select Beton, S.A.
Tunisia
69,46
Alfonso Benítez, S.A.
Federico Salmón, 13-Madrid, Spain
100,00
Beootpad s.o.o. Beograd
Serbia
100,00
FCC Equal CEE, S.L.
Federico Salmón, 13-Madrid, Spain
100,00
Golrib, Solucoes de Valorizacao de Residuos
Lda.
Portugal
55,00
Czysta Energia Gdansk sp. Z.o.o.
Poland
100,00
Grupo FCC Environment
United Kingdom
Jamie Franquesa, S.A.
P.l Zona Franca Sector B calle D 49 -
Barcelona, Spain
100,00
Servicio de Recogida y Gestión de Residuos
Sólidos Urbanos del Consorcio Vega Sierra Elvia,
S.A.
Doctor Jiménez Rueda, 10 - Atarfe
(Granada), Spain
60,00
Agualia de Alcár Empresa Mixta, S.A.
Rondilla Cruz Verde, 1 - Alcár de San
Juan (ciudad Real), Spain
52,38
Aguas de las Galeras, S.L.
Av. Camino de Santiago, 40 - Madrid,
Spain
100,00
Aqualia Infraestructuras d.o.o. Beograd-Vracar
Serbia
100,00
Aqualia Infraestrucurtas d.o.o. Mostar
Bosnia-Herzegovina
100,00
Aqualia Infraestructuras Pristina Lic.
Kosovo
100,00
Empresa Gestora de Aguas Linenses, S.A.
Federico Salmón, 13 - Madrid, Spain
100,00
FCC Aqualia, S.A.
Federico Salmón, 13 - Madrid, Spain
100,00
FCC Aqualia,América, S.A.U.
Federico Salmón, 13 - Madrid, Spain
100,00
FCC Aqualia U.S.A. Corp
USA
100,00
Hydrotec Tecnología del Aguas, S.L. Unipersonal
Av. Kansas City, 9 - Sevila, Spain
100,00
Inversora Riutort, S.L.
Berlín, 38-43 - Barcelona, Spain
100,00
Sociedad Ibércia del Agua, S.A., Unipersonal
Av. Camino de Santiago, 40 - Madrid,
Spain
100,00
Agregados y Materiales de Panamá, S.A.
Panama
100,00
Alpine - Energie Holding AG
Germany
100,00
Colobiana de Ingrastructuras, S.A.S.
Columbie
100,00
Conciones Viales de Costa Rica, S.A.
Costa Rica
100,00
Concretos Estrucurales, S.L.
Nicaragua
100,00
Conservial Infraestructuras, S.L.
Acanto, 22 - Madrid, Spain
100,00
Consorcio FCC Iquique Ltda.
Chile
100,00
Constructora Meco-Caabsa, S.A. de C.V.
Salvador
60,00
Corporación M&S de Nicaragua, S.A.
Nicaragua
100,00
Edificadora MSG, S.A.
Panama
100,00
Edificadora MSG, S.A. de C.V. (El Salvador)
Salvador
100,00
Eólica Catvent, S.L.
Balmes, 36 - Barcelona, Spain
80,04
FCC Construcción América, S.A.
Costa Rica
100,00
FCC Construcción Costa Rica, S.A.
Costa Rica
100,00
FCC Edificadora CR, S.A.
Costa Rica
100,00
FCC Electromechanical Lic.
Saudi Arabia
100,00
154
FCC Elliott Construction Limited
Ireland
100,00
FCC Elliott Limited
United Kingdom
50,10
FCC Mersey Gasteway Ltd.
United Kingdom
100,00
FCC Mersey Gateway Investments Ltd.
United Kingdom
100,00
Guinea Ecuatorial Fomento de Construcciones y
Contratas Construcción, S.A.
Guiena Ecuatorial
65,00
Meco Santa Fe Limited
Belice
100,00
Carbocem, S.A.
Paseo de la Castellana, 45 - Madrid,
Spain
55,12
Dragon Portland Limited
USA
79,08
Société des Cimentad d´Enfidha
Tunisia
69,48
Compania General de Servicios Empresariales,
S.A. Unipersonal
Federico Salmón, 13 - Madrid, Spain
100,00
Costa Verde Habitat, S.L.
Orense, 11 - Madrid, Spain
100,00
Europea de Gestión, S.A. Unipersonal
Federico Salmón, 13 - Madrid, Spain
100,00
FCC Concesiones de Infraestructuras, S.L.
Av. Camino de Santiago, 40 - Madrid,
Spain
100,00
PER Gestora Inmobiliaria, S.L.
Federico Salmón 13, Madrid, Spain
100,00