Financial Position
Off-balance sheet items of the Budimex Group
Guarantees, sureties, other liabilities and contingent liabilities:
| OFF-BALANCE SHEET ITEMS | 31.12.2013 | 31.12.2012 |
|---|---|---|
| Contingent receivables | 366 233 | 369 358 |
| From affiliated entities, of which: | - | 2 372 |
| - guarantees and sureties received | - | 2 372 |
| - promissory notes received as security | - | - |
| From other entities, of which: | 366 233 | 363 986 |
| - guarantees and sureties received | 353 159 | 349 791 |
| - promissory notes received as security | 13 074 | 14 195 |
| Other contingent receivables, of which: | - | 3 000 |
| - other off-balance-sheet receivables | - | 3 000 |
| Contingent liabilities | 1 652 986 | 1 573 708 |
| To affiliated entities, of which: | 3 566 | 803 |
| - guarantees and sureties issued | 3 566 | 803 |
| - promissory notes issued as security | - | - |
| To other entities, of which: | 1 506 240 | 1 429 725 |
| - guarantees and sureties issued | 1 497 507 | 1 423 993 |
| - promissory notes issued as security | 8 733 | 5 732 |
| Other contingent liabilities, of which: | 143 180 | 143 180 |
| - other off-balance-sheet liabilities | 143 180 | 143 180 |
| Total off-balance sheet items | (1 286 753) | (1 204 350) |
Contingent receivables arising from guarantees and sureties represent guarantees issued by banks or other entities in favour of Budimex Group companies serving as security for the Group’s claims against business partners in connection with executed construction contracts.
Contingent liabilities arising from guarantees and sureties represent guarantees issued by banks to business partners of Group companies to secure their claims against Group companies that may arise on the grounds of executed construction contracts. The banks are entitled to recourse claims against Group companies under these guarantees.
Other contingent liabilities include among others voluntary acceptance of enforcement constituting a security of payment up to the amount of PLN 135 010 thousand due and payable in the case of improper performance of obligations by Budimex SA under the acquisition agreement concerning shares of Przedsiębiorstwo Napraw Infrastruktury Sp. z o.o.
The table below shows loan guarantees and sureties issued by Budimex SA or its subsidiaries as at 31 December 2013:
| Name of the company granting a surety for a loan or borrowing or granting a guarantee |
Name of the (company) entity to which sureties or guarantees were granted |
Total amount of loans or borrowings that has been duly guaranteed to the extent specified (PLN ‘000) |
Term for which sureties sureties or guarantees were granted |
Financial terms on which a surety or guarantees were granted |
The nature of the relationship existing between BUDIMEX SA and the entity that incurred the loan or borrowing |
|---|---|---|---|---|---|
| Budimex SA | Mostostal Kraków SA | 78 656 | 2018-11-13 | free of charge | subsidiary |
| Budimex SA | Budimex Nieruchomości Sp. z o.o. | 17 088 | 2017-07-15 | free of charge | subsidiary |
| Budimex SA | Budimex Parking Wrocław Sp. z o.o. | 2 059 | 2017-08-31 | free of charge | subsidiary |
| Budimex SA | Budimex Bau GmbH | 116 | 2015-06-30 | free of charge | subsidiary |
| Budimex SA | Budimex Budownictwo Sp. z o.o. | 38 435 | 2020-02-12 | free of charge | subsidiary |
| Budimex SA | FBSerwis SA | 2 303 | 2020-10-30 | free of charge | associate |
| Budimex Budownictwo Sp. z o.o. | FBSerwis SA | 1 263 | 2018-11-16 | free of charge | associate |
| TOTAL | 139 920 | ||||
