11. Equity
11.1. Authorized and issued share capital
| 31 December 2015 | 31 December 2014 | |||
|---|---|---|---|---|
| Number of units | Equity (CZK’000) | Number of units | Equity (CZK’000) | |
| Ordinary shares of CZK 10,000, fully paid | 50,000 | 500,000 | 50,000 | 500,000 |
| Share premium | 382,500 | 382,500 | ||
Company was creating statutory reserve fund in the amount of 20% of the issued share capital in accordance with the previous legislation No. 513/1991 Coll., on Accounting (balance sheet item A.V.). This reserve fund can be released based on decision of General Meeting in accordance with Articles of the Company. The release method is decided by General meeting.
11.2. Revaluation reserve
| (CZK’000) | 31 December 2015 | 31 December 2014 |
|---|---|---|
| Land and buildings (Note 4.1) | (143,464) | (71,816) |
| Financial investments in subsidiaries (Note 4.2) | 59,281 | 47,978 |
| Financial investments in associates (Note 4.2) | 4,303 | 4,713 |
| Deferred tax (Note 20) | 27,360 | 13,747 |
| Others | 2 | 2 |
| Gain/loss on revaluation of assets and liabilities | (52,518) | (5,376) |
Gain/loss on revaluation of assets and liabilities are recognized in Equity within other Capital funds.
11.3. Profit after taxation
The 2015 net profit of CZK 522,064 thousand is proposed to be distributed* as follows:
| (CZK’000) | 2015 |
|---|---|
| Dividend paid | — |
| Transfer to retained earnings | 522,064 |
| Net profit/(loss) | 522,064 |
* proposed distribution of net profit was not approved by the shareholder as at the financial statements date
Allocation of 2014 profit is shown in the Statement of changes in equity.