F.9. Shareholder’s equity
| (CZK million) | 31. 12. 2014 | 31. 12. 2013 restated |
|---|---|---|
| Shareholder's equity attributable to the Group | 30,756 | 23,999 |
| Share capital | 4,000 | 4,000 |
| Other capital reserves | 206 | 206 |
| Revenue reserves and other reserves | 11,407 | 10,185 |
| Reserve for currency translation differences | 39 | 12 |
| Reserve for unrealised gains and losses on available-for-sale financial assets | 11,514 | 5,250 |
| Reserve for other unrealised gains and losses through equity | (4) | – |
| Cash flow hedge reserve | (79) | (81) |
| Result of the period | 3,673 | 4,427 |
| Shareholder's equity attributable to non-controlling interests | 657 | 618 |
| Total | 31,413 | 24,617 |
Of which relates to Transformed fund:
| (CZK million) | 31. 12. 2014 | 31. 12. 2013 |
|---|---|---|
| Shareholder's equity attributable to the Group | 6,711 | 3,118 |
| Revenue reserves and other reserves | (387) | (634) |
| Reserve for unrealised gains and losses on available-for-sale financial assets | 7,627 | 3,590 |
| Result of the period | (529) | 162 |
| Total | 6,711 | 3,118 |
The following table provides details on reserves for unrealised gains and losses on investments available-for-sale:
| (CZK million) | 31. 12. 2014 | 31. 12. 2013 restated |
|---|---|---|
| Gross revaluation as at the beginning of the year | 6,121 | 8,401 |
| Tax on revaluation as at the beginning of the year | (871) | (1,090) |
| Beginning of the year | 5,250 | 7,311 |
| Revaluation gain/loss in equity – gross | 6,924 | (1,437) |
| Revaluation gain/loss on realisation in income statement – gross | (588) | (968) |
| Impairment losses | 141 | 243 |
| Changes related to accounting for associated companies | – | – |
| Changes in Group structure | 118 | (118) |
| Tax on revaluation | (331) | 219 |
| Gross revaluation as at the end of the year | 12,716 | 6,121 |
| Tax on revaluation as at the end of the year | (1,202) | (871) |
| End of the year | 11,514 | 5,250 |
Of which relates to Transformed fund:
| (CZK million) | 31. 12. 2014 | 31. 12. 2013 restated |
|---|---|---|
| Gross revaluation as at the beginning of the year | 3,520 | – |
| Tax on revaluation as at the beginning of the year | 70 | – |
| Beginning of the year | 3,590 | – |
| Revaluation gain/loss in equity – gross | 3,858 | 3,749 |
| Revaluation gain/loss on realisation in income statement – gross | (16) | (229) |
| Impairment losses | 6 | – |
| Tax on revaluation | 189 | 70 |
| Gross revaluation as at the end of the year | 7,368 | 3,520 |
| Tax on revaluation as at the end of the year | 259 | 70 |
| End of the year | 7,627 | 3,590 |
Movements in the reserve for cash-flow hedges were as follows:
| (CZK million) | 31. 12. 2014 | 31. 12. 2013 |
|---|---|---|
| Carrying amount as at 1 January | (81) | (15) |
| Fair value gains / losses of the year | 3 | (81) |
| Tax on fair value gains / losses | (1) | 15 |
| Carrying amount as at 31 December | (79) | (81) |
The following table provides details of authorised and issued shares.
| (CZK million) | 31. 12. 2014 | 31. 12. 2013 restated |
|---|---|---|
| Number of shares authorised, issued and fully paid | 40,000 | 40,000 |
| Par value per share (CZK) | 100,000 | 100,000 |
All ordinary shares have the same rights.
F.9.1. Dividends
At the Annual General Meeting on 30 April 2014, the sole shareholder approved the distribution of retained earnings in the form of dividend of CZK 83,600 per each share in the nominal value of CZK 100,000 amounting to CZK 3,344 million. Distribution concerns prior year profit of CZK 3,727 million reduced by the allocation to retained earnings of CZK 383 million.
At the Annual General Meeting on 30 April 2013, the sole shareholder approved the distribution of retained earnings in the form of dividend of CZK 85,000 per each share in the nominal value of CZK 100,000 amounting to CZK 3,400 million. Distribution concerns prior year profit of CZK 3,883 million reduced by the allocation to retained earnings of CZK 483 million.