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2013ANNUAL REPORT
Content
Company History 2
Company Strategy 3
Line of Business of the Company 4
Organisation Structure 5
Important Projects 6
Ownership Interests in other Companies 7
Employees’ Care 9
Public Corporate Activities 12
Quality and Environment — Integrated Management System 13
Business Activities in 2013 14
Significant Customers and Contractors 15
Research and Development 16
Financial Position 18
Assets and Liabilities 19
Revenues and Expenses 20
Investment Activities 21
Profit/Loss and Proposal for Profit Distribution 22
Forecast of Future Development 23
Enclosures 24
Independent Auditor’s Report 25
Financial Statements (Balance Sheet, Profit/Loss Statement) 28
Integrated Management System Certificate 39
Certificate of the Quality Management System for Welding Process 40
Industrial Safety Certificate 41
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Since 1994 VUJE, a.s. has been the successor organisation of Výskumný ústav jadrových elektrární (Nuclear Power Plant Research Institute) which started its activity on 1 January 1977 as a concern company of Slovenské energetické podniky (Slovak Power Enterprises) formed by the team of research and development employees of Bohunice NPP. A year later, Nuclear Power Plant Research Institute became an independent entity controlled directly by the Federal Ministry of Fuel and Energy of the CSSR. In 1983, due to its excellent results, VUJE was charged by Federal Government with leading the scientific commissioning of all nuclear power plants in Czecho-slovakia. In 1983, VUJE started to run its own education and training centre which was equipped with a full scope simulator of a WWER 440/213 reactor unit next year. This centre gradually achieved an international level. The International Atomic Energy Agency (IAEA) also carried out training courses here.
Since 2004 the company has been registered in the Commercial Register as VUJE, a.s. (hereinafter referred to as VUJE or the company). VUJE remains the joint-stock company whose exclusive shareholders are current and former employees or their heirs.
VUJE has gradually changed its focus from a research institute to an engineering and design company carrying out important projects in the nuclear power industry and later VUJE broadened its activities also into the areas of power grids, conventional power industry and use of renewable energy sources.
The company demonstrated through its participation in various significant projects that it is a capable organiser of cooperation between foreign and Slovak suppliers of works, technologies and components in a specialised field such as NPP modernisation and completion, and also in other power sectors. Due to achievements, VUJE belongs to the important European research and development, engineering and design companies.
Company History
3VUJE, a.s. | Annual Report 2013 | short version
Company Strategy
The company’s strategy respects the expected development of the power sector within European area. VUJE has set its objectives so as to be able to cope with the competitive environment, to meet the needs of its customers and to fulfil expectations of shareholders as well as its employees.
Strategic priorities:
> Many years of successful work in the sector of nuclear power qualify the company for its permanent promotion within this sector,
> To maintain and strengthen the company’s position in the field of power generation on the domestic and foreign market in spite of growing competition,
> Ability to offer its business partners new and comprehensive products in order to increase their satisfaction,
> To design solutions contributing to protection and development of the environment,
> To increase the prestige and value of the company through permanent development of employees’ professional competence and through sharing information effectively within the company
Practical implementation of strategic objectives can be defined as follows:
> to strengthen its position as a leading engineering and design organisation in the field of Slovak nuclear power sector by providing quality and comprehensive solutions,
> to increase its market share within engineering and design activities for the nuclear power sector in Central Europe and thus to continue with the territorial diversification,
> to integrate higher requirements concerning safe operation of nuclear facilities into tasks implementation,
> to increase its share in the market segment of engineering, design and supply activities for the conventional power engineering, electric grid and distribution networks in accordance with services diversification,
> to focus on new technology and new resources preparation.
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PVUJE line of business comprises project, implementation, engineering and training activities for nuclear and conventional power plants and for the processing industry.
VUJE provides comprehensive solutions for nuclear power industry particularly in the following areas:
> design of new NPP-s,
> start-up of new NPP-s,
> activities related to NPP-s operation and maintenance (nuclear safety, diagnostics of nuclear power facilities, NPP radiation control, safety documentation development, NPP units safety assessment),
> NPP modernisation, power uprate and lifetime extension,
> NPP decommissioning and disposal, radioactive waste management,
> NPP personnel training.
VUJE performs following services within the power generation sector:
> design and construction of power generating facilities and technologies as well as their implementation,
> construction and reconstruction of power generating facilities,
> analyses of technical, economic and environmental aspects of power generation, distribution and consumption,
> operation of substations.
Line of Business of the Company
5VUJE, a.s. | Annual Report 2013 | short version 5VUJE, a.s. | Annual Report 2013 | short version
Organisation Structure
9900
0200
0300
0400
0500
0600
0700
0800
0900
1000
1200
1700
0100
Office of the Board
Division for Nuclear Safety
Division for Diagnostics of Nuclear Power Components
Division for Preparation of NPP Operation
Division for Support of NPP Operation
Division for NNP Personnel Training Centre
Division for Radiation Safety, NPP Decommissioning and Radwaste Management
Division for Information Technologies
Division for Commerce, Engineering Activities and Services
Division for Economy
Division for Support of Electric Grid Control and Operation
Division for Preparation and Construction of new Nuclear Power Installations
General DirectorDepartments of General Director
The accounting entity does not have any establishment abroad.
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The most significant projects executed by the company are listed below:
> Gradual reconstruction of Bohunice V-1 NPP (in consortium with Siemens),
> Modernisation of Bohunice V-2 NPP units,
> Commissioning of Bohunice, Mochovce, Dukovany and Temelin NPP-s,
> Completion of the Republic Spent Fuel Repository in Mochovce,
> Participation in the project of Mochovce NPP- Units 1 and 2 completion,
> Seismic strengthening and extension of storage capacity of the interim spent fuel storage facility in Jaslovské Bohunice,
> Decommissioning of Bohunice A-1 NPP,
> Professional training of employees working for nuclear and conventional power plants and electric grid,
> Complex environmental assessment in regions where power installations of Slovenské elektrárne, a.s. are situated,
> Processing of liquid radioactive waste for Mochovce NPP,
> Integrated information system of Slovenské elektrárne, a.s.,
> Development and operation of simulators for nuclear reactors of WWER V-230 and V-213 types and simulators for distribution companies,
> Construction of a high voltage transmission line Varín – Sučany,
> Yeghesis, hydroelectric power plant, Armenia,
> Construction and assembly of technological equipment of Slovenský energetický dispečing in Žilina,
> Reconstruction of a power supply facility in Smrečina Holding I, a.s.,
> Reconstruction of 400 kV substation in Križovany,
> Post-accident monitoring system for Mochovce NPP – Units 1, 2
> Power increase of NPP units,
> Completion of Mochovce NPP - Units 3 and 4,
> Extending of the operating lifetime program for Paks NPP (Hungary),
> Manipulator for inspection of steam generators ZOK-PG
> Reconstruction of Medzibrod substation,
> National research and development programmes.
Important Projects
7VUJE, a.s. | Annual Report 2013 | short version
As at 31 December 2013 VUJE had capital interests in the following companies:
Subsidiaries
VUJE contribution
to equity*Share
(%)*
Net profit/loss as at 31 Dec
2013 (EUR)
Book value as at 31 Dec 2013
(EUR)
DECOM, a.s. 172,640 € 100.0 5,430 373,531
DECONTA, a.s. 100,000 € 100.0 1,037 110,000
EGP s.r.o. 6,639 € 100.0 0 88,562
VÚJE Česká republika s.r.o. 1,380 T CZK 93.2 2,261 50,315
ENERGOMONT s.r.o. 640,165 € 51.0 2,759 2,564,084
AITEN, a.s. 100,000 € 100.0 -178,292 654,296
VÚJEST s.r.o. 28,320 € 100.0 -226 58,764
JOMA Slovakia spol. s. r. o. 506,639 € 100.0 332,768 724,683
ENERGOPROJEKT Slovakia, a.s. 21,905 € 66.0 54,938 68,189
Affiliated companies
ENERGOPROJEKT, spol. s.r.o., Košice 3,320 € 50.0 1 99,582
ENERGOPROJEKTY a.s. 33,864 € 34.0 -132,032 37,244
Nuclear Safety & Technology Centre s.r.o. 40 T CZK 20.0 187 1 458
* voting share is equal to the share capital
Ownership Interests in other Companies
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DECOM, a.s.develops conceptual plans for NPP decommissioning and safety analyses.
DECONTA, a.s.provides advisory and consulting activities in the fields of nuclear installations decommissioning, radioactive waste management, and spent nuclear fuel.
VÚJEST s.r.o.provides small-scale co-operation for the parent company.
VÚJE Česká republika s.r.o.focuses exclusively on power industry and mainly on the corporate sector. It implements projects for the Czech power industry companies and for technology suppliers.
ENERGOMONT s.r.o.focuses on technological equipment in power industry and mechanical engineering, repair and maintenance of electrical equipment, production of steel structures and steel tanks and other activities.
AITENdeals with system integration in the field of information technologies, project management related to information technologies and consultancy in the field of information systems implementation.
ENERGOPROJEKT Slovakia, a.s.carries out architectural and engineering services and related technical consultancy.
ENERGOPROJEKT, spol. s.r.o., Košiceperforms design works in substations, automated system of dispatching equipment (ASDR) and industrial distribution.
ENERGOPROJEKTY a.s.focuses on the design of buildings, develops studies, provides professional consultancy, static calculations as well as budgeting.
JOMA Slovakia, spol. s.r.o.deals with production of building materials, building constructions and civil engineering structures, modifications of buildings and maintenance works.
9VUJE, a.s. | Annual Report 2013 | short version
Number of employees
As at 31 December 2013 VUJE employed 780 people representing the same amount compared to the end of 2012. In 2013 VUJE employed 208 women and their share constituted 26.6% of the total number of employees. Compared to 2012 it represents a decrease by 0.1%.
In comparison to 2012, the number of employees with the PhD degree increased by 0.6%, the number of employees with the university degree increased by 2.3% and thus the number of employees with secondary education decreased by 2.9%.
Qualification structure in 2013:
44 employees PhD degree 5.6%
455 employees University degree (Bachelor’s or Master’s degree)
58.4%
281 employees Secondary education 36.0%
Age structure in 2013:
Age category Number of employees Percentage
to 30 76 employees 9.7%
30—40 170 employees 21.8%
40—50 192 employees 24.6%
50—60 233 employees 29.9%
over 60 109 employees 14.0%
Employees’ Care
50–6
0
40–50
30–40
< 30> 60
5.6%
36%
58.4%
10
Employees’ education and training
The aim of employees’ education is to prepare and maintain highly skilled and qualified professionals as well as competence personnel necessary for implementation of demanding projects and tasks of our company. Qualifica-tion improvement is provided in various forms. Emphasis is on competence and special competence personnel (in accordance with the Act No. 541/2004 Coll. — Atomic Act and Decree No. 52/2006 Coll.) represented mainly by training staff from VUJE training centre (trainers of theoretical training for selected and special competence personnel and trainers training on a full-scope simulator) as well as competence personnel for decommissioning of our nuclear facilities (Experimental incinerator and bitumenisation line) — 38 employees in total.
Total number of trained employees increased by 55.79% — from 1,353 last year to 3,778 employees this year.
Employees are provided also with other important forms of training, namely vocational training for electricians after 5 years executed by VUJE Training centre, elementary training for NPP personnel — 1st and 2nd category, internships in Jaslovské Bohunice NPP, periodic training of selected personnel after 2 years, a certificate of European Welding Engineer and Welding Technologist, language courses. 6 employees studied at universities (external study).
The system of employees’ education and training is described in documents of Integrated Management System (IMS) and is certified by LRQA. The system was assessed and certified by LRQA audit (24th—28th August 2013), NRA SR inspection (4th September 2013), and by external customer audits.
Statistical indicators of training 2008 2009 2010 2011 2012 2013
Number of employees as at 31 December 755 794 801 782 780 780
Number of training activities 247 275 203 298 206 305
Training costs (in thousands of €) 262.3 227.7 247 213 307 193
Training costs per employee (€) 347 287 308 272 393 247
Number of trained employees 2,958 5,152 2,346 3,293 2,425 3,778
11VUJE, a.s. | Annual Report 2013 | short version
Employees’ care
Employees’ care creates a part of human resources management in VUJE. In addition to the financial elements of remuneration, VUJE provides variety of employees’ benefits. These are provided not only in VUJE internal rules, but also in higher-level collective agreements and the company collective agreement concluded for the years 2011—2013. VUJE provides following employees’ benefits:
> meals for employees,
> comprehensive preventive medical examinations,
> allowances to supplementary pension savings,
> childbirth and the life jubilees allowances,
> electricity consumption allowances,
> favourable stays in VUJE recreation facilities,
> language education and training support,
> additional days off for mothers and single fathers, and other.
Cooperation with universities and talented students support
Cooperation with universities is carried out mainly through the provision of expert consultations in the prepara-tion of bachelor’s, master’s and doctoral theses, as well as through the role of opponents. VUJE provides students with the opportunity to attend practical training or study stays. VUJE rewards talented students of the Slovak Uni-versity of Technology in Bratislava and the Technical University of Košice within the project Ján Korec Foundation Award. Thanks to Ján Korec Foundation the company can also support the education of talented students from socially weak and disadvantaged backgrounds.
12
VUJE is an active member of the following organisations:
> Zväz zamestnávateľov energetiky Slovenska (Union of Employers of Power Industry in Slovakia)
> Zväz priemyselných, výskumných a vývojových organizácií (Union of Industrial, Research and Development Companies)
> Centrum pre rozvoj energetiky (Center for Energy Development)
> Slovenské jadrové fórum (Slovak Nuclear Forum)
> Republiková únia zamestnávateľov (National Union of Employers)
> Slovenská nukleárna spoločnosť (Slovak Nuclear Society)
> Slovenská obchodná a priemyselná komora a jej sekcia energetiky (Slovak Chamber of Commerce and Industry — Energy Section)
> Halden Reactor Project
As mentioned above, VUJE by Ján Korec Foundation supports not only talented students and socially weak students, but also the development of children and youth, contributes to the development and protection of spiritual and cultural values and to humanitarian aid.
Public Corporate Activities
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VUJE has established an integrated management system consisting of following subsystems:
> Quality management system,
> Environmental management system,
> Occupational health and safety management system,
> Quality management system for welding process,
in accordance with ISO 9001, ISO 14001, OHSAS 18001 international standards and related legal regulations aimed at improvement of nuclear installations opera-tional safety, environment protection and occupational safety and health at work. It respects also the IAEA recommendations.
Particular subsystems of VUJE integrated manage-ment system were certified by Lloyd‘s Register Quality Assurance in:
> 1999 (Quality management system),
> 2003 (Environmental management system),
> 2009 (Occupational safety and health management system),
and by the company Prvá Zváračská, a. s. in:
> 2013 (Quality management system for welding process).
VUJE operates following accredited laboratories certi-fied in accordance with ISO/IEC 17025:2005 standard:
> Calibration temperature and pressure laboratory
> Testing laboratory — department for control of nuclear power facilities
> Testing laboratory — department of Structural analyses
> Testing laboratory of chemical regimes and physical and chemical analyses
> Testing laboratory of electromagnetic fields
> Testing laboratory — laboratory of equipment qualification
> Testing laboratory of radiation dosimetry
> Testing laboratory — department of power transformers measurement
VUJE has built up a certification authority for certifica-tion of classified equipment for nuclear power plants in accordance with ISO/IEC 17065:2012.
VUJE operates the authorised centre (authorised body) according to the Act No 142/2000 Coll. on Metrology as amended by the Act No 431/2004 Coll. for verification of certain gauges — combined temperature sensors designated for nuclear power plants of WWER 440 types. The authorisation is valid until 2018.
VUJE also operates the authorised centre (author-ized body) according to the Act No 142/2000 Coll. on Metrology as amended by the Act No 431/2004 Coll. for verification of certain gauges — current measur-ing transformers, voltage measuring transformers, combined measuring transformers of current and voltage used in conjunction with the electrometers. The authorisation is valid until 2017.
VUJE has been the holder of Industrial Safety Certificate issued by the National Security Authority of the Slovak Republic since 2005.
Quality and Environment — Integrated Management System
14
The most important projects and contracts of the year 2013 are listed in the chart below:
Project/Contract (P/C) name CustomerP/C commencement/
completion
Completion of Mochovce NPP – Units 3, 4 SE, a.s. 06/2009-12/2014
Development of Design Basis for WWER 440/V-2013 – Bohunice NPP – Units 3, 4 and Mochovce NPP – Units 1, 2
SE, a.s. 05/2011-12/2014
PAMS, BORON, INCORE for Mochovce NPP – Units 3, 4 SNIIP ATOM 03/2011-5/2015
Supply of maipulator for inspections of the main circulation pumps bolts – Temelín NPP
ČEZ, a.s. 04/2013-11/2013
Delivery of compact containers ang hanging baskets JAVYS, a.s. 04/2010-07/2015
Maintenance, repairs and inspections of LU PC – Reactor hall – Dukovany NPP
ŠKODA JS, a.s. 04/2009-12/2015
SW system for management and assessment of physical start-up standard tests
SE, a.s. 04/2013-12/2015
Innovation of operating systems – electro and ICS of Bohunice V2 NPP SE, a.s. 12/2012-11/2013
Severe accident management – ICS-SAM and SAM components controllers - Bohunice V2 NPP – both units
SE, a.s. 01/2012-12.2013
Severe accident management – Emergency coolant source – Bohunice V2 NPP – entire system
SE, a.s. 05/2011-11/2013
Dispatcher Training Simulator SEPS, a.s. 08/2008-12/2013
Enhancement of main control rooms operators training in ANPP, Armenia EU, Brussels, Belgiium
11/2011-06/2013
Bohunice NPP - A-1 decommissioning - stage II JAVYS, a.s. 05/2009-12/2016
Decommissioning of VUJE nuclear facilities NJF SR 01/2013-12/2013
Servis – specific SW JISHM® EPSIS MH SR 06/2011-12/2015
Development – JISHM® EPSIS – new modules and modifications MH SR 05/2013-12/2013
Technological support of ARSOZ SW in JAVYS AITEN, a.s. 01/2013-12/2013
Upgrade of LPMS - HW and SW to China Čína 02/2013-06/2013
Export of the simulator to Armenia Metsamor NPP 04/2013-05/2013
Transformation of 400/110 kV in Medzibrod SEPS, a.s. 02/2010-09/2013
Remote control of Veľký Ďúr ES and connection of Mochovce NPP - Units 3,4 SEPS, a.s. 09/2010-11/2014
220/110kV Medzibrod – reconstruction of 220kV to 400kV SEPS, a.s. 12/2008-12/2013
Technical assistance SE, a.s. 01/2011-12/2013
Documentation – assessment of proposed activities impact on environment for the project of a new nuclear facility in Jaslovské Bohunice
AMEC, s.r.o. 09/2013-04/2016
NJF SR — National Nuclear Fund of the Slovak Republic
MH SR — Ministry of Economy of the Slovak Republic
In addition to the above listed projects, VUJE provided training for NP personnel and for ES operators, operated five electrical substations and implemented further projects for power industry and other companies in Slovakia and abroad in 2013.
Business Activities in 2013
15VUJE, a.s. | Annual Report 2013 | short version
VUJE customers
The most important Slovak customers (sales over EUR 500 thousand) in 2013 are listed below:
> Slovenské elektrárne, a.s. > Jadrová a vyraďovacia spoločnosť, a.s. > Slovenská elektrizačná a prenosová sústava, a.s. > ELCON BRATISLAVA, a. s. > Alter Energo, a.s. > EGEM s.r.o., establishment > Agentúra ministerstva školstva SR (Agency of Ministry of Education, Science, Research and Sport of the Slovak Republic)
> Národný jadrový fond SR (National Nuclear Fund) > Ministerstvo hospodárstva SR (Ministry of Economy of the Slovak Republic)
> SAG Elektrovod, a.s.
In 2013, foreign sales reached EUR 5,301 thousand.
The most important customers in the Czech Republic in 2013 were as follows:
> ČEZ, a.s. > Škoda JS a.s. > Modřany Power, a. s. > Ústav jaderného výzkumu Řež a.s. (Nuclear Research Institute)
The most important foreign customers in 2013: > OOO SNIIP ATOM Moscow > The European Commission > MVM OVIT Orzságos (Hungary) > Karlsruher Institut für Technologie (KIT)
VUJE suppliers
The most important Slovak suppliers in 2013 (listed by turnover):
> ALTER Energo > ELCON BRATISLAVA a.s. > Elektrovod Žilina, a.s. > AMEC Nuclear Slovakia s.r.o. > ZVVZ Enven Engineering, a.s. > ZTS Výskumno-vývojový ústav Košice > ENERGOMONT s.r.o > UniNet-CsI, a.s. > TECHNOS,a.s. > Laná, a.s. > PPA ENERGO, s.r.o. > JOMA Slovakia, spol. s r.o. > JES Group a. s. > JAVYS, a.s. > CHESTREAL PROGRESS a. s. > LiV ELEKTRA a.s. > ZTS INMART Atóm a.s.
The total import reached the amount of EUR 8,606 thou-sand in 2013 and compared to the previous year it almost doubled.
An increase of the total import was partially caused by the imports from the Czech Republic that reached EUR 5,630 thousand in 2013 and represented an increase compared to EUR 3,017 thousand in 2012. The most important Czech suppliers in 2013:
> ZVVZ Enven Engineering, a.s. > Ústav jaderného výzkumu Řež, a.s. > Zemědelské družstvo Rpety
Imports from outside the Czech Republic reached EUR 2,976 thousand and it doubled compared to the previous year. The most important foreign suppliers (excluding the Czech companies) in 2013 are listed below:
> AREVA NP GmbH, Offenbach am Main > CSTI, S.r.L., Novara > Fibre Optics Centre International, Rochester Kent
Significant Customers and Contractors
16
VUJE in orientation to selected areas of significant importance in the field of research, development and innovations meets all preconditions for effective research and development:
> Excellent science (prime top research teams in the field of power sector and related technologies)
> Interconnection of research with education, social and economic practice (pilot projects ensuring implementation within common premises of the Slovak University of Technology in Bratislava and the Technical University of Košice)
> Research and development for needs of industry and society (stages of building key infrastructures and new energy sources)
> Innovations and research and development infrastructure (research teams concentration – the Technical Centre for Power Sector)
Research, development and innovation activities in Slovakia
In 2013, VUJE continued the following research and development tasks:
Task name Tendering authorityCommencement/
completion of the task
Increase of energy security in the Slovak Republic ASFEU MŠ SR 07/2010-12/2013
Population protection against the effects of electromagnetic fields in Slovakia
ASFEU MŠ SR 01/2011-12/2014
Improving safety of nuclear installations during seismic events ASFEU MŠ SR 06/2012-11/2014
Technical assistance in the field of nuclear safety NRA SR 08/2013-07/2016
ASFEU MŠ SR — Agency for EU structural Funds — Ministry of Education, Science, Research and Sport of the Slovak Republic
NRA SR — Nuclear Regulatory Authority of the Slovak Republic
Science and Technology promotion
In 2013, VUJE representatives participated in national and international conferences where they presented par-tial solutions of the above mentioned tasks.
VUJE participated in the following exhibitions:
> 19th international fair of electrical engineering, electronics, energy and telecommunications ELOSYS 2013 and was awarded the “Unique object of the Year 2013” for the “Digital Reaktivity Meter DRN-501 and Picoampermeter CM-433ix”,
> ATOMEXPO 2013 in St. Petersburg.
Research and Development
17VUJE, a.s. | Annual Report 2013 | short version
International projects
In 2013 VUJE actively participated in research, coordi-nation and support activities within the 7th EU frame-work programme EURATOM. Three projects within last calls were successfully completed in 2013, two pro-jects are still in progress and 5 projects from the call FP7-Fission 2012 and 2013 started in 2013 and shall be continued in the following years.
Following the call EURATOM FISSION 2014—2015 VUJE started to prepare its participation in research pro-jects of the programme HORIZON 2020 in December 2013 and started coordination of research proposals within the Association NUGENIA — Generation II and III nuclear plants.
VUJE researchers participate mainly in the fields of nuclear safety, safety calculations and analyses, emergency management and radiation monitoring, computational codes validation, life time extension and long term operation of nuclear units, radioactive waste management and storage, nuclear installations disposal, new nuclear systems, conceptual issues of nuclear power safe use and support of national contact points in new member states and in the third countries.
Results of international cooperation in European projects and with IAEA in Vienna are used for Slovak customers, namely for Slovenské elektrárne, a. s. and Nuclear Regulatory Authority of the Slovak Republic.
There are important international training activi-ties. Within the European Commission programme EuropeAid, three modules of the training project ENSTTI — European Nuclear Safety Training & Tutor-ing Institute for junior professionals, new comers and for the third countries were executed.
VUJE implemented following courses:
> Training Module safety management for regulators
> Training Module Safety Assessment
> Training Module Site Evaluation
The project INSC PROGRAMME — Instrument for Nuclear Safety Cooperation was focused on enhance-ment of main control room operators training by implementing the model of primary circuit of the full scope simulator for Metsamor NPP, Armenia.
Preparatory activities of the Allegro project aimed at construction of a new experimental nuclear facility funded from EU structural funds took place. The con-sortium consists of the Czech Republic, Hungary and the Slovak Republic supported by France. Poland joined the consortium with interest in the technology for production of industrial heat from nuclear sources. Switzerland has also expressed interest.
The company develops cooperation to provide techni-cal support for nuclear regulatory authorities within ETSON — European Technical Safety Organisations network, prepares activities for construction of new nuclear units abroad, supports supervision in Arme-nia and prepares various commercial activities in the Ukraine.
18
Financial accounts of the company amounted to EUR 26,435 thousand as at 31 December 2013 representing an increase by 64% compared to the previous year. The company did not draw any bank loans in 2013.
The total state of bank guarantees issued by financial institutions at the request of VUJE amounted to EUR 41,612,647 as at 31 December 2013.
As at 31 December 2013, one stand-by letter of credit No. IM001811 in the amount of EUR 930,000 in favour of Allianz – Slovenská poisťovňa ,a.s, was valid.
The Company registered in its favour four bank guarantees totalling EUR 1,599,172 as at 31 December 2013.
The overview of bank guarantees issued by banks and insurance companies at the request of VUJE and in its favour as at 31 December 2013 is given in the Notes to the Financial Statements.
Financial Position
19VUJE, a.s. | Annual Report 2013 | short version
Assets
The company assets reached EUR 109,948 thousand as at 31 December 2013 and compared to the pre-vious year it represented an absolute increase by EUR 17,457 thousand and by 18.9%. The structure of the basic categories of assets underwent following changes:
> In the previous year, non-current assets represented 14,2% of the total assets and as at 31 December 2013, it represented only 13,4% although non-current assets increased absolutely from EUR 13,129 thou-sand to EUR 14,771 thousand. The absolute increase of non-current assets was caused by an increase of non-current financial assets.
> Current assets represented 86,2% of the total assets as at 31 December 2013 and in absolute terms its value increased by EUR 15,835 thousand. This increase was caused mainly by increased financial accounts and by slight increase in receivables.
Equity and liabilities
The company’s equity increased by EUR 8,170 thousand due to retained earnings from the previous period. Liabilities increased by EUR 9,252 thousand mainly by an increase in current trade liabilities as at 31 Decem-ber 2013.
The company does not own its own shares.
Assets and Liabilities
2020
Revenues
In 2013 the company reported revenues totalling EUR 132,368. The structure of revenues was as follows:
Revenues from own products EUR 2,719 thousand
Revenues from services provided EUR 111,601 thousand
Revenues from merchandise EUR 11 thousand
Revenues from construction contracts EUR 15,422 thousand
Other income related to ordinary activities EUR 2,508 thousand
Revenue from own work and merchandise according to the individual segments, i.e. types of products and services and main territories, compared to the previous year, is presented in the table below:
Territory Products and merchandise Services Total
2013 2012 2013 2012 2013 2012
Slovak Republic 2,261,497 4,616,874 122,190,948 101,142,007 124,452,445 105,758,881
Foreign countries 468,745 736,642 4,831,870 3,640,022 5,300,615 4,376,664
Total 2,730,242 5,353,516 127,022,818 104,782,029 129,753,060 110,135,545
In 2013, revenues from the financing activities totalled EUR 136 thousand.
The Company did not report any extraordinary income in 2013.
Expenses
In 2013, total expenses reached the amount of EUR 122,018 thousand. The increase in expenses was caused mainly by an increase of direct production consumption by approximately EUR 13,665 thousand and by an increase of personnel expenses.
Other items of operating expenses did not undergo any significant changes in 2013. Financial expenses amounted to EUR 365 thousand and compared to the previous year they decreased significantly to approximately 44% of the last year.
The company did not report any extraordinary expenses in 2013.
Revenues and Expenses
21VUJE, a.s. | Annual Report 2013 | short version 21VUJE, a.s. | Annual Report 2013 | short version
In 2013, capital expenditure amounted to EUR 1,865 thousand representing an increase by approximately EUR 400 thousand compared to 2011.
The structure of investments is shown in the table below (EUR):
Intangible assets 189,425
Property, plant and equipment 1,465,147
— computers, PC network 599,602
— measuring equipment 438,235
— machine tools 16,893
— vehicles 442,258
— air-conditioning 1,863
— other 18,396
advanced payments made and not accounted -101,930
Land, structures 260,578
— land 11,775
— other 248,803
TOTAL INVESTMENTS 1,865,320
Investment Activities
2222
Profit/Loss and Proposal for Profit Distribution
Profit/loss 2013
Profit from operations EUR 12,899,681
Profit from financing activities EUR -229,355
Profit from operations before tax EUR 12,670,326
Income tax on ordinary activities EUR 3 524,227
Profit after tax EUR 9,146,099
No extraordinary profit was generated.
Development of profit from operations and financing activities is shown in the following graph:
Development of profit from operations and financing activities 2005—2013
The Board of Directors shall propose to the General Meeting the profit distribution for the year 2013 as follows:
Profit after tax EUR 9,146,099.35
Social fund contribution EUR 300,000.00
Dividends to shareholders EUR 18,270.00
Royalties to the Board of Directors EUR 556,180.00
Royalties to the Board of Supervisors EUR 43,820.00
Retained earnings EUR 8,227,829.35
0
-2
2
4
8
6
10
12
14 (mil. €)
2005 2006 2007 2008 2009 2010 2011 2012 2013
profit from operations profit from financing activities
23VUJE, a.s. | Annual Report 2013 | short version
Business activities
In 2014, the company will address the following important projects:
> Completion of Mochovce NPP – Units 3, 4,
> Decommissioning of Jaslovské Bohunice NPP - A-1–stage II,
> Remote control of Veľký Ďúr ES and connection of Mochovce NPP - Units 3 and 4,
> PAMS, BORON, INCORE – Mochovce NPP – Units 3, 4 (for SNIIP ATOM)
> Emergency electric power source – implementation project and execution
> Transformation 400/110 kV Voľa
> D3 – Supply of compact containers for spent fuel KZ48,
In addition to these key areas, the company will deal also with projects in the field of engineering and design activities and subcontracts for nuclear power industry. The company will also operate in the area of reconstructions and supplies for the Slovak transmission system and the grid.
VUJE will provide services and supplies for energy companies and companies in other sectors in Slovakia and abroad.
Research and development
In 2014, VUJE will continue with the following tasks in the field of research and development:
Task name Tendering authorityCommencement/
completion of the task
Population protection against the effects of electromagnetic fields in Slovakia
ASFEU MŠ SR 01/2011-12/2014
Improving safety of nuclear installations during seismic events ASFEU MŠ SR 06/2012-11/2014
Technical assistance in the field of nuclear safety NRA SR 08/2013-07/2016
NRA SR — Nuclear Regulatory Authority of the Slovak Republic.
VUJE will have these priority research activities in the field of sustainable energy:
> Prototype of a gas-cooled fast reactor ALLEGRO,
> Improving safety and efficiency of NPP decommissioning and waste management,
> Improving safety of operated NPP-s as well as those under construction,
> Increase of transmission capacity and safety of transmission system in Slovakia.
Forecast of Future Development
VUJE, a.s.Okružná 5, 918 64 Trnava, Slovak RepublicP +421 33 599 1111, F +421 33 599 1200E [email protected], W www.vuje.sk
