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Annual Report 2011

Management Organization of the Melitta Group
Melitta
Household Products
Europe
Jan Van Riet
Melitta
USA
Martin T. Miller
Cofresco
Freshkeeping
Products Europe
Volker Stühmeier
(as of February 14, 2012)
Melitta
Canada
William J. Ivany
Corporate Management
Dr. Thomas Bentz
Dr. Stephan Bentz
Volker Stühmeier
Melitta Coffee
Europe
Dr. Frank Strege
Wolf PVG
Dr. Lutwin Spix
GENERAL PARtNERS OF tHE
MELittA UNtERNEHMENSGRUPPE BENtz KG
Jörg Bentz
Dr. Thomas Bentz
Dr. Stephan Bentz
LiMitED PARtNERS
Jero Bentz
Claudia Bertelmann-Tauß
Jara Bentz
Thomas Dominik Bentz
BUSiNESS UNitS CORPORAtE DiViSiON
Melitta
SystemService
Harald
Johanning-Meiners
Neu Kaliss
Spezialpapier
John Paul Fender
Dieter Kirchner
Melitta
Brasil
Bernardo Wolfson
ACW
Holger Achelpohl
Helmut Cywinski
Finance
Kurt Groh
Legal Affairs & HR
Markus Zeyen
Corporate Development
Jero Bentz
ADViSORy COUNCiL
Michael Gallenkamp (Osnabrück), Chairman
Claus Holst-Gydesen (Neuss)
Dr. Uwe Tillmann (Düsseldorf)
Jörg Bentz
Dr. Thomas Bentz
Dr. Stephan Bentz
As of May 2012

Contents
02 Management Report
06 Melitta: the brand company
08 Brands: valuable constants
12 Business Units
34 Financial Information
50 Locations
52 Imprint
We are a manufacturer of branded products for coffee enjoyment,
the storage and preparation of food, and home cleanliness.
Our brands stand for quality and added value – in all the
markets we serve. Wherever we operate, we enjoy a leading
position with retailers and consumers, or aim to achieve it.
The same applies to our B2B business.
Melitta is a group of companies with a rich tradition and on
course for the future. We continue to develop on a daily basis,
yet never lose grip of our strong roots.

Volker Stühmeier, Dr. Thomas Bentz, Dr. Stephan Bentz
Dr. Thomas Bentz, Dr. Stephan Bentz
und Volker Stühmeier
Geschäftsführende Gesellschafter
der Melitta Unternehmensgruppe
Ladies and gentlemen,
Strong brands, good operating results from a wide base,
investments in promising fields and not least our successful
innovation work – these are all key reasons why we can
look back with satisfaction on the past fiscal year 2011. We
achieved revenue growth of eight percent for the second
year in a row, while earnings remained in line with expectations.
once again, growth was driven by our global coffee business,
filter papers in Brazil, fully automatic coffee machines
in Europe, and commercial coffee machines for the
food service sector. There was also encouraging growth
in our B2B business with plastic films for the consumer
goods industry and specialty papers – a particular focus
area at present.
We achieved this sound development in a market environment
which was generally favorable. Apart from the
crisis-hit countries of southern Europe, for example, the
global economy continued to make good progress in 2011.
However, we also faced strong competition in our business
segments last year, and in some areas suffered from
an overall decline in demand. Strong price hikes for commodities
placed a further burden on earnings. Due to the
record cost of green beans at present, we were forced to
raise our retail prices.
With regard to the development of our strategic business
fields, however, we believe that we are well positioned
to compete in our various markets. Our most important
business field by far in terms of revenue, “Coffee and Tea
Enjoyment”, made strong progress in 2011: our range of
fully automatic coffee machines, for example, was very well
ManageMent report
received by consumers. We have been offering a full range
of these popular coffee machines for over a year now. On
the European market, year-on-year revenue growth was
well into double figures. In the classic filter coffeemaker
segment, we successfully defended our top 3 position in
Germany. The same applies to sales of coffee: despite the
high price of green beans, our Melitta ® brand once again
confirmed its leading position in the most important segments
of the German coffee market.
Our foreign markets are also enjoying a favorable trend:
our coffee and filter paper business in Brazil, in particular,
continues to make strong progress and once again boosted
consolidated results with double-digit growth rates. The
economic prospects in Brazil are particularly favorable at
present. We therefore expect our largest foreign market to
deliver good results again in 2012.
The highly encouraging development of our food service
segment was continued last year: in addition to further
expansion with existing clients in the chain catering sector
– such as in Japan and France – a number of major
new clients were added. We will expand our business in the
food service sector in the coming year with the foundation
of new national subsidiaries.
In the strategic business field “Freshness and Flavour”, we
are one of only a small number of branded product suppliers
in Europe. The market is fiercely competitive at present.
Nevertheless, we succeeded in raising revenue slightly year
on year. In addition to classic sales promotion work, we
used 2011 to revamp our product packaging.
2 3

ManageMent report
Thanks to successful innovations, we also achieved good
growth in the strategic business field “Convenient Cleaning”.
In our vacuum filter bag business, we made further
investments in new technologies and pooled expertise at
our German facilities in order to defend our position as the
innovation and quality leader in future.
Our increasingly important B2B business remained firmly
on course for growth in the past year. There was very encouraging
double-digit growth in sales of special-grade papers
and plastic films for the consumer goods industry in
2011.
these overwhelmingly positive figures for the past fiscal
year are rooted in the consistently strong efforts we make
in nurturing and promoting our brands. The Melitta Group
is a branded product manufacturer. And as such we live
from the brand promise which we give to our consumers,
and in turn from the trust which this generates among
customers. Our task is to constantly reaffirm this promise
and to strengthen the trust which customers place in our
products. Innovation is an important element of this work.
With the aid of innovative ideas, we try to ensure that our
products and ranges continue to be positioned in those areas
in which quality standards are set. We will continue to
uphold this strategy in future, irrespective of economic cycles
– in a way typical for companies whose focus is clearly
on long-term sustainable success.
An important aspect of our endeavors for long-term success
is the regular investments we make in maintaining
the strength of our assets. In the past year, for example, we
once again raised the level of capital expenditures made
throughout the Group. A major share was channeled into
new coffee roasting technologies and the expansion of our
production capacities in Germany and Brazil for the strategic
business field “Coffee and Tea Enjoyment”. A further
significant proportion was used to expand our successful
B2B business with specialty papers. We shall make further
investments in this field in the current year. Our aim is to
develop this business with industrial papers over the coming
years. Following the very high investment amounts of
the two previous years, we shall once again raise total capital
expenditures this year.
For successful development, a company not only needs a
strong business model – which can also withstand difficult
periods – it also needs people, who can fill it with life and
take the idea to the marketplace. Innovation, creativity and
flexibility, as well as perseverance, endurance and problemsolving
expertise – these and many other qualities vital for
a company to succeed these days, are all factors contributed
by people. We are a family-run business, in which people
have traditionally always played a major role – whether
as managers or employees. And so we are proud to state
that staff identification with the company Melitta is very
strong – among our employees in Germany and abroad.
We aim to keep it this way in future. We therefore recently
defined this area as a key strategic topic. The foreseeable
demographic development adds further weight to its significance.
And the experience which many other companies
are already making illustrates that the competition for
skilled staff has long been in full swing. We aim to win this
battle in two ways: firstly, by identifying talent within the
Group and developing existing skills as fully as possible.
And secondly, by attracting new highly skilled employees
to the company.
Due to the decentralized structure of our organization, we
have a particularly high need for top-performing management
staff. After all, one of our main strengths is that we
are present around the world and able to provide local
consumers with compelling solutions in our various business
fields. We have therefore declared management development
and the strengthening of management quality
throughout the Group as one of our main strategic tasks.
As a consequence, we will encourage staff to think more
like business owners, as well as intensifying the development
of cross-cultural skills, and ensuring that key positions
are occupied with the best-possible people.
Over the coming months and years, we will focus increasingly
on enhancing our appeal as an employer as we need
dedicated staff at all levels.
Where will 2012 take us? After the first few months of the
current year, we can already state that the recession feared
by many market experts at the end of 2011 has failed to
materialize. Forecasts indicate a further year of healthy economic
growth in our core markets. Although we feel our
markets are still a long way from being completely stable,
we expect satisfactory revenue growth in 2012.
In terms of earnings, we do not believe that the burden
from material and commodity prices will intensify this year.
However, the fierce competition in our markets will continue.
We do not regard this as an obstacle, but rather as
a motivation – it will spur us on to take a more pro-active
approach with the aid of further innovation and effective
marketing.
Dr. Thomas Bentz Dr. Stephan Bentz Volker Stühmeier
ManageMent report
4 5

Melitta: the brand company
Our brands stand for high-quality products. No matter
where in the world a customer buys one of our products, he
can be sure it will live up to our performance promise. The
name Melitta also stands for something else: for a group of
companies with a rock-solid foundation.
Brands shine particularly brightly in changing times like
these – especially if they have been carefully nurtured over
many years. We can see this from the loyalty displayed by
our customers. They have formed a strong bond with our
brands. This bond gives our brands an intangible added value
which strengthens the company’s overall standing.
6 7

expert look
Brands: valuable constants
As a healthy, owner-managed company, Melitta emerged from the crisis better than many other companies.
One key reason for this is undoubtedly the strength of its brands, which give consumers compelling arguments
to buy the group’s products on a daily basis. In the following interview, design and brand expert Peter
Schmidt explores this phenomenon.
What actually is a brand – and what isn’t it?
peter schmidt: Well, that’s probably the hardest question right at
the start. There’s definitely something archetypal about brands.
They are instantly understood, in other words, they work intuitively.
Anything blurred or that can’t be expressed properly, doesn’t
work. That means that a brand must always be clearly separated
from other brands; there must be no overlap.
The church gives us an excellent example of a strong brand. The
cross is a symbol which is so elementary and clear that it stands
for itself – for over 2,000 years now, and despite the fact that it
tells a serious story. A brand may have something eternal about
it, but not necessarily.
Or another more contemporary example: when I designed a logo
for Jil Sander some years ago which consisted of nothing more
than the lettering and a great sound, this was highly unusual –
almost provocative – in the field of women and fashion. But it
worked perfectly; we didn’t need to add anything. Melitta is a
similar brand: the lettering itself is enough.
In the old days, brands would mature over many years. today,
they are often created over night. What role does time play for
a brand?
peter schmidt: The factor time can be very dangerous for a brand
these days. It can attack the brand if it loses its substance and becomes
unstable. In the past few years, we’ve seen how formerly strong brands
like Grundig or Agfa have simply disappeared. Companies always believe
they have to realign themselves over time; but you shouldn’t do
this with a brand. A brand doesn’t need to change track.
Melitta is a brand which has stayed on track over many decades.
It is also an incredibly respectable brand. But as with all things,
there are two sides to respectability: in an age in which the spectacular
plays such an important role, such respectable brands are
not normally among the front-runners. But, they run longer. And
are more stable.
What role does advertising play for a brand these days?
peter schmidt: A brand must tell a story; and this story must be
heard by the public. Modern advertising offers numerous possibilities
to communicate stories to the consumer. It’s a strong medium
as it can quickly establish awareness. Once again though,
you must remember: advertising can change, but not the brand.
In such inflationary times, advertising is something that changes
rapidly: it leaps onto the current trend – only to desert it soon
after for the next trend.
Advertising plays on emotions. And needs to be used wisely, as
emotions depend on the prevailing zeitgeist. Statements which
mean one thing today, may be interpreted completely differently
tomorrow.
Many companies have developed a separate corporate brand,
creating a clear division between their products and the company.
peter schmidt: Yes, that’s right. And in an age when companies
often have a multitude of different products, this also makes
sense. Beiersdorf, for example, is a corporate brand which owns
product brands such as Nivea and Tesa. And this differentiation
The Hamburg-based designer Peter Schmidt is regarded as one of Germany’s best brand creators. Major companies such as Joop, Jil
Sander and many others owe much of their success to him.
has actually protected the Tesa brand, as the sheer variety of
Nivea products gradually diluted the brand.
For the company Linde, I was actually involved in the launch of
the “Linde Group”. This new level was necessary because activities
had to be pooled and the Linde brand was only to be used
for its gas business. Such changes can be carefully implemented,
above all if the product and the brand share the same name.
to what extent have the demands on brand management
8 9
changed?
peter schmidt: These days, it’s very important to correctly insulate
a brand. Brands must correspond with brands standing next
to them. Good brand management means constantly aligning
Brands: ValuaBle Constants
the brand with its core identity. The shelf life of modern brands is
so short because they are so often affected by interference.
We live in an age in which price is becoming the dominant factor.
take the retail chain Mediamarkt, for example. are brands
still relevant in such an environment?
peter schmidt: It’s certainly true that few new brands have been
visible in the past few decades. At the same time, however, a lot of
existing names have been ruined. Nevertheless, let me give you
an answer which you maybe didn’t expect: brands will always be
relevant, because it’s human nature to seek distinction, simplicity
and clarity.

expert look
We’re also experiencing an exciting situation right now: I’m delighted
that a lot of new brands are being created at the moment
in a completely new quality. It’s often young people taking their
ideas to the market, in England for example or even more so in
America. Let’s take the example of chocolate: I know about 15 new
chocolate brands – of which quite a few are likely to succeed in
the long term. I think this small example also answers the “Mediamarkt”
question. Such “Mediamarkts” will continue to play a
role in future. In the case of many price-driven products, however,
it’s only a question of time until they disappear from the market.
does the internationalization of a brand always have to be difficult?
How can you be successful against all the odds?
peter schmidt: In the case of car brands, we can see that it also
works quite well – as long as companies have the necessary
power and their products the desired quality. VW for example,
or BMW, have a strong global brand. And the Mercedes star is
still shining brightly around the world – despite the difficulties
of the Daimler-Chrysler phase. Jil Sander has been similarly successful.
As I mentioned before, she succeeded in establishing an
unusually strong position in Japan and the USA. Jil Sander is even
Many companies seeking
an established brand in France and
growth have to ask them-
England.
selves the question: “How do
we enter new markets with
our brand?”
peter schmidt: I think entering
international markets is
“Brands are competing
in a much more complex
environment today than just
a few years ago.”
Peter Schmidt
This example clearly demonstrates,
by the way, that a number of factors
need to combine for a company to
have success. Firstly, there was a
very clever strategy behind the international
expansion. Japan was
a difficult step to make for a
chosen as it has a strong affinity for
brand. First of all, it’s obvi-
German products. Then the product
ously necessary to break out of the small German market, but itself was right; people immediately liked the perfumes. Timing
I’ve also witnessed many brands fail in their attempts to gain a was also critical: at the time, women wanted to be more inde-
foothold abroad. If Melitta is successful in Europe, the USA or pendent, not as quiet. And finally, Jil Sander’s personality and ap-
Brazil, then that deserves tremendous respect. On its first foray pearances rounded off the brand image.
overseas, Hugo Boss suffered losses in the millions. It took quite If I wanted to go international with my brands, I would go from
some time for the brand to establish itself. The company was only country to country – basically, in the same way as Melitta does.
able to hold out so long because its domestic European business I also believe that a company needs several major brands to be
was doing so well.
profitable. And – this is a fact these days – you also need the
There are many companies today who enjoy an international
reputation but have only few brands. There are two reasons for
necessary funds to build up awareness in a market.
this. The first: if you take a branded product abroad, you generally How would you assess Melitta’s approach of establishing a dif-
encounter markets which are already occupied. You will be facing ferentiated brand architecture over the years under the Melitta
well-established mid-size companies and financially strong major
corporations. Both will use their power and experience to repel
umbrella?
you as quickly as possible from their market. On top of this fierce peter schmidt: It was important to do this! The company rec-
competition, you will also have to accept increased costs. And ognized that you shouldn’t stretch the Melitta brand too far. It’s
the second reason: if you want your branded product to be rep- simply not possible to offer coffee and household products under
resented on a market, you have to know the local conditions very the same brand without causing damage. Toppits, Swirl, Cilia are
well. To use the example of coffee for a moment: in Spain, coffee all brands which were invented and launched on the market. And
enjoyment is different to what it is in the USA or Brazil.
Melitta has been consistent and successful in pursuing this ap-
proach. It says a lot about the substance of Melitta that this process
went so smoothly and that the market accepted the products
so willingly as brands.
It was right to free the Melitta brand from those products which
have their own expertise and a different appearance. Coffee has
to succeed in different markets to those of food wrappings, for
example. Each branded product speaks its own language and
requires its own individual design. In the sense of brand architecture,
however, people should also be able to recognize that
the products come from the same house. That’s a difficult task,
which companies regularly have to solve.
You mention the umbrella under which a brand manufacturer
has to group all of its branded products. What would a company
like Melitta have to consider if it wanted to make a benefit
claim valid for all its brands?
peter schmidt: First of all: Melitta is regarded as a competent
and credible company. This is a common link which the various
product brands benefit from – despite their inherent differences.
Let’s not forget, coffee stands for “enjoyment” and household
products for “work”, and this basic difference should not be ignored.
However, the umbrella is still possible: if a company with many
strong brands wants to communicate a common benefit claim, it
must first recognize its own dimensions. Only those companies
which recognize their size and thus accept their diversity, will also
recognize the need for a representative which stands for all their
brands. In the case of family-owned branded goods companies,
this is often the owners themselves. Gabriele and Konrad Henkel,
for example, defined the brand personality as representatives
of their company. At Melitta, it’s the Bentz family. Such familyowned
companies have a fantastic opportunity which corporations
don’t have in this form: to use real people for the credible
communication of values which may stand for a wide variety of
products.
Finally, Mr. schmidt: what is your vision for the brand?
peter schmidt: Why shouldn’t we be a little audacious and say
that brands are like people. There are loud ones and quiet ones,
Brands: ValuaBle Constants
garish and conservative – and there are human characteristics
which we can recognize in brands. There are some people whose
very appearance earns them respect, and those who we don’t immediately
take notice of – but then on careful inspection respect
all the more. You will never satisfy all customers with a single
brand, but always those who fit to you.
Peter Schmidt
The Hamburg-based product designer Peter Schmidt is
one of Germany’s leading designers. Over several decades,
his work has helped define the image of many brands.
Examples in the field of perfume include Hugo Boss, Laura
Biagiotti and Jil Sander. However, his wide range of work
has also encompassed corporate identity, magazines and
international museums such as the Museum of Modern
Art. Following the successful establishment of the Peter
Schmidt Group, he now works on selected tasks with just
a small team. One of his latest projects is a revamp of the
traditional “4711” brand.
10 11

In PrIncIPIo creavIt Deus caelum et terram In PrIncIPIo creavIt Deus caelum et terram
Developments
in the operating divisions
Melitta Household Products Europe
Cofresco Freshkeeping Products Europe
Melitta Coffee Europe
Melitta SystemService
Melitta Brasil
Melitta USA
Melitta Canada
Wolf PVG
Neu Kaliss Spezialpapier
ACW-Film
12 13

www.melitta.de
www.swirl.de
With its wide range of products for coffee and tea preparation, as well as vacuum filter bags, and products
for cleaning and waste disposal, Melitta Household Products Europe is represented in numerous
European countries. It markets products under the Melitta ® , Swirl ® and Cilia ® brands via the food
retail trade and specialist electrical/houseware stores.
SALES HOLD FIRM IN DIFFICULT MARKET
ENVIRONMENT
There was pressure on our markets from all sides during 2011.
On the purchasing side, rising commodity prices led to high cost
pressure, while on the sales side there was a further increase in
price competition. To make matters worse, competition from the
grocery trade’s own label products continue to grow – especially
in the field of filter papers, garbage bags and dust filter bags.
Despite these adverse conditions, however, we succeeded in
holding sales revenue at the prior-year level. Sales volumes, on
the other hand, failed to meet expectations.
STRATEGIC BUSINESS FIELD “COFFEE AND
TEA ENJOyMENT”: MIxED PROGRESS
Sales of fully automatic coffee machines continue to deliver
strong growth and encouraging market share gains. We enjoyed
PRODUCTS
Filter papers, products and equipment for coffee preparation,
dust filter bags and accessories, products for garbage disposal,
cleanliness in pet households, cleaning cloths, descalers, tea filters
Melitta Household Products Europe
particular success with our premium CAFFEO ® CI ® machine,
which was voted best-in-class by one consumer test magazine.
We extended our range of automatic coffee machines with new
products such as the CAFFEO ® SOLO ® &milk and the CAFFEO ®
Gourmet.
Despite a variety of new product initiatives, sales of filter coffeemakers
struggled in the early part of the year. Toward the end of
the year, however, there was a clear upward trend which resulted
in further market share gains, especially in the important German
market.
In our filter paper market, overall demand continued to fall – albeit
at a slower pace. The new pack design, which stresses the
sustainability of our products, helped consolidate our position
in this segment.
The strategic business field “Coffee and Tea Enjoyment” also benefited
from the newly designed brand campaign in cooperation
KEy FIGURES
SALES*
in € ’000
344,017
365,624
CAPITAL
ExPENDITURE
in € ’000
3,855
3,625
EMPLOyEES
Average
1,475
1,316
LOCATIONS
Minden (Germany), Berlin (Germany),
Paris (France), Chézy (France), Tourcoing (France),
Shenzhen (China)
with Melitta Coffee Europe featuring Melitta ® barista Timon. The
campaign helped give the brand a new and more contemporary
image.
STRATEGIC BUSINESS FIELD “CONVENIENT
CLEANING”: SOLID PERFORMANCE THANKS TO
INNOVATIONS
In our core business with vacuum filter bags and garbage bags
under the Swirl ® brand, we succeeded in maintaining both sales
volumes and market share at the prior-year level. Product innovations
such as our new scented garbage bags proved major
successes. We also enjoyed further strong growth in sales volumes
of eco garbage bags made from recycled plastic. The new
“Cleanliness in Pet Households” range continued to make good
progress, but failed to meet expectations.
FOCUS ON CORE BUSINESS AND NEW STRATEGIC
ALIGNMENT
In the past year, we continued to focus on our core business and
most important strategic growth fields. We aligned all our innovation
and marketing activities, as well as our organizational structure
with this objective.
SALES COMPANIES
France, Austria/Switzerland,
Netherlands/Belgium, Sweden/Denmark,
Russia, Czech Republic
In the field of production, we successfully completed the pooling
of all filter paper manufacturing at our Minden plant and
prepared the conversion of our paper plant in Berlin. Under the
management of Neu Kaliss Spezialpapier, the Berlin facility will
produce mainly wallpaper base papers in future – thus raising its
importance for the Group.
OUTLOOK 2012: STRONGER BRAND BUSINESS TO
GENERATE ABOVE-AVERAGE GROWTH
We have targeted further profitable growth in the current year despite
adverse economic conditions. We intend to strengthen our
sales of branded filter papers, filter coffeemakers, dust filter bags
and garbage bags with a wide range of product innovations. In
the field of filter coffeemakers, for example, we shall be upgrading
the range with the addition of top-quality stainless steel models.
In our strategic growth market “fully automatic coffee machines”,
we will strengthen distribution and boost sales with further intensive
communication and promotion activities. In 2012, we are
planning a major overhaul and upgrade of our filter paper range
and expect a significant boost to business from these measures
in future. There will also be further enhancements to the quality of
our Swirl ® vacuum filter bags in 2012, in order to strengthen our
leading position for the years ahead.
2011 2010 2011 2010 2011 2010
14 Jan Van riet CEO
15
* Shift due to change of sales system in 2011. Net sales of prior year not adjusted (see Cofresco Freshkeeping Products Europe).

www.toppits.de
www.cofresco.de
Cofresco Freshkeeping Products Europe
Cofresco is Europe’s leading brand manufacturer for household films. With its innovative products under the
brand names Toppits ® , Albal ® , Glad ® , handy bag ® and PrimaPack ® , the technological leader is represented
in over 70 million households per year in 25 nations.
A VARIED FISCAL yEAR 2011
Following a period of stagnation, a number of markets returned
to overall growth in the past year. Sales of Cofresco were able to
benefit strongly from this trend, especially in the first half of the
year. However, this high level could not be maintained throughout
the year. Extensive changes in product marketing failed to
provide the desired impetus and achieve the targeted success.
Internal technical restructuring also required considerable effort:
the changeover to a sales agent contract with Melitta Household
Products Europe tied up a large amount of resources. Following
the successful completion of the project, Cofresco is now the direct
contractual partner and supplier for its customers in Europe.
SALES*
in € ’000
67,675
The performance of the company’s various product categories
also differed strongly. Our investments in advertising on the
Spanish and French markets paid off for the handy bag ® brand of
garbage bags. Other key topics during the year included a complete
packaging relaunch for Toppits ® and Albal ® , the establishment
of our new B2B branded product business, the launch of
business activities in Russia, and the highly successful start to
our pan-European Save Food campaign (an initiative to promote
the responsible use of food). We have already received the “European
Excellence Award 2011” for the Save Food initiative.
KEy FIGURES
40,805
PRODUCTS
Aluminum foils, baking paper, freshkeeping films,
freshkeeping bags, freezer bags,
roasting bags, garbage bags
SALES TO TRADE
in € ’000
176,137 178,624
CAPITAL
ExPENDITURE
in € ’000
5,330
5,034
EMPLOyEES
Average
306
290
LOCATIONS
Minden (Germany),
Brodnica (Poland)
OUTLOOK 2012:
UPTURN IN BUSINESS
We expect to successfully continue the brand activities already
introduced during the months ahead. In 2012, we will focus
our attention on activating consumer demand. A whole row of
measures have been defined across the entire product range. In
Germany and France in particular, we intend to provide further
impetus for our business with a wide variety of activities.
In the garbage bag segment, we aim to significantly extend our
competitive lead in France with the Handy Bag ® brand. Activities
will include enhancing the product’s shelf presence and above
all introducing numerous improvements in sealing methods and
product design.
SALES COMPANIES
Madrid (Spain),
Brodnica (Poland),
St. Petersburg (Russia)
In the food wrapping segment with Toppits ® and Albal ® , we will
underline the superiority of our products with further quality improvements.
In the field of marketing, the relaunch of our sandwich
paper is high on the agenda. This product is celebrating its
75th year on the market since its launch in 1937.
In our B2B business, we are planning further – often – innovative
projects aimed at raising brand awareness and strengthening
distribution.
In the current year, we intend to develop the Save Food campaign
into an integral component of the Toppits ® and Albal ® brands.
By cooperating with leading retail organizations, we aim to make
further progress in raising consumer awareness.
2011 2010 2011 2010 2011 2010 2011 2010
16 Volker stühmeier CEO (as of February 14, 2012)
17
* Shift due to change of sales system in 2011. Net sales of prior year not adjusted (see Melitta Household Products Europe).

www.melittakaffee.de
Melitta Coffee Europe
Melitta Coffee Europe is responsible for the Melitta Group’s European coffee business. Melitta ® is
one of the leading coffee brands on the German market. The quality of its products and the spirit
communicated by the brand’s core message “Coffee Enjoyment” play a major role in this success. The
Melitta ® range offers perfect coffee enjoyment for every taste: from filter coffee to instant cappuccino
and whole beans for fully automatic coffee machines, to pad ranges for single-serving preparation.
SUCCESS IN SPITE OF PRICE TURBULENCE ON
COMMODITy MARKETS
2011 was dominated by rising and highly volatile prices for green
beans. Coffee prices on the New York exchange reached a 34-year
high and repeatedly fluctuated more strongly in a single day than
they usually do in a whole year. Constant flexible adaptation to
these unsettled conditions was therefore one of the major tasks
for Melitta Coffee Europe during the past year. On the sales side,
there were also constant changes in the retail prices of our competitors.
Private label products benefited most from this situation,
at the expense of the classic branded providers. Despite these dif-
PRODUCTS
Roasted coffee (ground, whole bean),
instant cappuccino,
pads
ficult external factors, Melitta Coffee Europe made encouraging
progress and posted record sales of over € 400 million.
Consumer demand developed in line with expectations: consumption
of roasted coffee remained stable, while the overall
market for filter coffee fell slightly and for instant cappuccino
more strongly. In contrast to this development – and as in the
preceding years – there was growing demand for coffee used in
fully automatic coffee machines and single-serving devices. Sales
volumes of the Melitta ® range clearly reflect these changes in
consumer behavior.
KEy FIGURES
SALES
CAPITAL
ExPENDITURE EMPLOyEES
in € ’000
in € ’000
Average
395,595 4,449 174 171
331,438
624
BRAND STRENGTHENED, ExTENSIVE ADVERTIS-
ING AND MARKETING MEASURES
In the past year, we continued to strengthen the core message
of our brand: “Coffee Enjoyment”. In conjunction with a brandnew
advertising campaign, we relaunched the Melitta ® brand
website and completely revamped our pack designs. In addition,
we invested heavily in our production facilities in order to achieve
further enhancements in product quality. By changing our energy
source, we also succeeded in reducing the CO2 emissions of
our factory by around 25 percent. The installation of a new coffee
roaster at the end of the year offers new possibilities to further
enhance our top-quality coffees.
OUTLOOK 2012: GREATER STABILITy IN GERMANy,
GROWTH IN EUROPE
Despite a wide range of activities, we do not expect coffee consumption
in Germany to grow significantly in 2012. Nevertheless,
we will continue to stimulate demand with our Melitta ® brand.
The aim is to at least stabilize our current market position. Our
latest developments include an interesting new product with a
special claim: BellaCrema ® “Selection of the Year”. This limited
edition blend once again delivers what our customers have come
to expect from Melitta: quality, value and enjoyment.
We continue to see attractive development opportunities for
Melitta Coffee on the international market. Our product ranges
and concepts are specially tailored to the respective needs of the
various markets. We aim to uphold the double-digit growth rates
we have already achieved on our international markets
2011 2010 2011 2010 2011 2010
18 dr. Frank strege CEO
19
LOCATION
Bremen (Germany)

www.melittasystemservice.de
Melitta SystemService
Melitta SystemService is the specialist for professional hot beverage preparation in the food service
sector. The division’s core business activities are the manufacturing and global marketing of filter coffee
machines and fully automatic coffee machines as well as the sale of coffee and accessories. Melitta
SystemService also has its own international after-sales service team.
INTERNATIONAL BUSINESS ON TRACK
Melitta SystemService can look back on a successful fiscal year
2011 with sales and earnings even slightly above expectations.
The contribution made by the division’s various regions differed
however: there was very encouraging progress in the Asia/Pacific
region, for example. Despite the natural catastrophe, Japan was
once again the second most important market, after Germany
but ahead of Switzerland. We received a valuable order from a
major franchise chain and are now the sole nationwide supplier
of coffee machines for this customer.
Our business in Germany remained gratifyingly stable – both
in the individual hotel and catering sector as well as for major
national clients. Although increased commodity prices meant
PRODUCTS
Coffee machines, fully automatic coffee machines,
filter papers, roasted coffee,
accessories, tea
adapting our coffee prices for customers, these were very well
accepted by the market.
The increased valuation of the Swiss franc led to a dramatic decline
in tourism, with a corresponding effect on our sales there.
By year-end, however, we were able to strengthen sales again.
In Belgium and France, we recovered considerable ground with
some major orders. We now also serve the Moroccan market
via France, where a major retail chain uses our fully automatic
Cafina ® ALPHA machine. All in all, we continued to expand our
business with major international clients, which made a significant
contribution to growth.
KEy FIGURES
SALES
in € ’000
136,428 131,938 1,938
CAPITAL
ExPENDITURE
in € ’000
1,712
EMPLOyEES
Average
689
708
LOCATIONS
Minden (Germany),
Hunzenschwil (Switzerland)
HIGHLy POPULAR PRODUCTS
We enjoyed several successes with our products last year: with its
outstanding coffee quality, the Melitta ® C35 – featuring a touch
display and chocolate module – compared favorably with its international
competitors. Our new Melitta ® bar-cube, which we
unveiled at the Internorga 2011 fair, easily exceeded our own expectations.
After establishing it on the domestic market, we now
also aim to attract new international customers with this midpriced
machine.
There was encouraging revenue growth in our coffee business
in Germany. This was partly due to the expansion of our coffee
range to meet the exact needs of the market.
In addition to machines and coffee, the division’s technical after-sales
services made good progress. There was also strong
growth in sales of other food, non-food and accessory articles.
Our cooperation with Tee Gschwendner, for example, has proved
highly successful.
SALES COMPANIES
Hunzenschwil (Switzerland), Salzburg (Austria),
Saint Tibault des Vignes (France),
Hardinxveld (Netherlands), Elgin (USA), Tokyo (Japan)
OUTLOOK 2012:
INTERNATIONAL BUSINESS ExPANSION AND
STREAMLINING OF ORGANIzATION
In the past year, we laid important groundwork for our product
strategy in the core product ranges of fully automatic coffee machines
and filter coffee machines. This will help us successfully
continue our development in existing markets. At the same time,
we aim to drive our expansion in new markets and are planning
further steps in Asia. We already expect positive effects from
these efforts in the current year.
One of the main challenges of the past year was the establishment
of our Global Competence Center and the resulting centralization
of production in Switzerland. In this connection, we also
raised headcount in the central divisions for R&D, International
Logistics and International Customer Service at our main base in
Minden. In 2012, we will continue to invest in our Minden plant
with the construction of a Training and Exhibition Center.
2011 2010 2011 2010 2011 2010
20 Harald Johanning-Meiners CEO
21

www.melitta.com.br
Melitta Brasil
Melitta has been offering its complete range of products for coffee preparation in the world’s largest
coffee-producing nation since 1968. The range includes various coffee blends produced at the company’s
own roasting plants, as well as filter papers produced at its own paper plant. Melitta Brasil’s
brands are Melitta ® , Jovita ® , Bom Jesus ® and Brigitta ® .
LEAP IN SALES OF COFFEE AND FILTER PAPERS
In the period under review, we once again enjoyed double-digit
growth in sales revenues – making it the ninth consecutive year
of successful business development. We achieved record sales
volumes for both coffee and filter papers. Revenue growth also
reached double figures in both product categories.
On the Brazilian market as a whole, sales of both whole bean and
ground coffee fell during the past year. This was partly due to a
strong price increase of over 20 percent caused by a drastic rise
in green bean prices.
Despite this overall fall in market sales, our Melitta ® and Bom
Jesus ® brands continued to enjoy strong growth. As a conse-
quence, the market share of our Melitta ® -branded coffee rose
PRODUCTS
Roasted coffee (ground, whole bean),
instant cappuccino, filter papers,
industrial papers
again to reach second position. Growth was particularly strong
in Rio de Janeiro and the north-east of Brazil, where the year-onyear
rise in sales volume was over 30 percent. With the aid of TV
campaigns and trade promotions, we were able to attract both
new customers to our premium brand and establish a high repeat
purchase rate.
Our Bom Jesus ® brand, a coffee blend for everyday enjoyment,
also posted strong double-digit growth. This success is mainly
the result of our regional expansion in São Paulo and Paraná.
We have now become the market leader in the Rio Grande do
Sul region.
There was also significant growth in sales of filter papers in the
past year. Following a rapid development, we have now reached a
leading position in the premium segment. Our filter papers were
KEy FIGURES
SALES
in € ’000
314,835
292,489
CAPITAL
ExPENDITURE
in € ’000
5,254
3,312
EMPLOyEES
Average
590 585
particularly successful in the city of São Paulo, where we reached
35 percent of all households for the first time and a high market
share.
Our Jovita ® and Brigitta ® brands made strong market share
gains – at the expense of rival products.
OUTLOOK 2012:
REACHING NEW TARGET GROUPS WITH
NEW PRODUCTS
As the development of commodity prices remains uncertain in
2012, we expect that further price increases will become necessary.
We anticipate a stable development for our coffee business,
while growth is likely to continue in our filter paper business.
Both product categories will receive ongoing support via TV campaigns
and sales promotion activities in order to ensure sustainable
growth.
We are upbeat about the prospects for the Brazilian economy.
Thanks to the increasing spending power of the nation’s middle
classes and a low unemployment rate, consumer spending will
continue to rise. The FIFA World Cup in 2014 and the Olympic
Games in 2016 will also boost investment in the country’s infrastructure,
provide further jobs and ensure that gross domestic
product (GDP) continues to rise.
In 2012, we plan to launch a new product in the south of Brazil:
Melitta ® Wake: a new and unique milk-based instant beverage in
delicious flavors with a hint of coffee. Melitta ® Wake was developed
for the young adult target group and offers a new type of
refreshing and convenient drinking enjoyment.
2011 2010 2011 2010 2011 2010
22 Bernardo Wolfson CEO
23
HEADqUARTERS
São Paulo (Brazil)
PRODUCTION LOCATIONS
Avaré, Guaíba, Bom Jesus (Brazil)

www.melitta.com
Melitta USA
Melitta USA has been active on the US market since the 1960s. Its head office is located in Clearwater,
Florida. The company produces filter papers at its own facility and operates its own coffee roasting
plant near Philadelphia.
COFFEE PRODUCTS PERFORM WELL IN DIFFICULT
ENVIRONMENT
We continued to face a challenging economic environment in
2011. The year was dominated by high green bean prices, a weak
economy, and exceptionally rapid growth in consumer demand
for single-serving coffee machines. The latter is currently having a
profound impact on the US market. We reacted by adapting our
products to the new market circumstances.
Whereas sales volumes for coffee through US grocery stores fell
on the whole, we successfully bucked the trend with our range
of premium coffees. We owe this growth in particular to our topquality
“Café Collection” range. Following a successful launch in
Philadelphia and subsequent roll-out in New York, we also introduced
the new line in the Boston region toward year-end. We
PRODUCTS
Roasted coffee (ground, whole bean),
filter papers,
coffee preparation products
achieved gratifying growth rates in the Philadelphia and New York
sales regions during the past year. Sales in Boston also offer great
promise for the future.
In line with the growing trend toward single-serving machines,
there was a decline in demand for filter papers last year. In order
to halt this trend, we are making increased efforts to expand our
distribution of coffee filters to the whole US market. The pourover
method of coffee preparation has developed into a trend
in the USA and its popularity is growing fast. In order to exploit
this tendency, we launched a number of new products both for
coffee shops and private households. In this connection, we also
successfully concluded a partnership agreement with a major
franchise chain. The new product launches were supported by a
revamped pack design and targeted PR measures.
KEy FIGURES
SALES
in € ’000
55,347 56,684
CAPITAL
ExPENDITURE
in € ’000
4,665
1,209
EMPLOyEES
Average
120
109
LOCATIONS
Clearwater, Florida,
Cherry Hill, New Jersey
OUTLOOK 2012:
UTILIzING OPPORTUNITIES FOR DOUBLE-DIGIT
GROWTH
We are very upbeat about our prospects for the current year: 2012
is the year of opportunities for us. As of the first quarter, we have
been advertising our premium product line “Café Collection” on
TV. In addition, we are planning to launch further products in
our existing markets. We expect that this will enable us to reach
double-digit sales growth in our premium range.
In the second quarter, we plan to introduce coffee filters marked
with measuring amounts in certain test markets. This is intended
to help consumers find the right dosage for their favorite coffee.
We aim to encourage the growing preference of many consumers
for pour-over coffee with new manual filtration products.
In order to utilize increased market demand for single-serving
coffees, we developed our new “coffee pod” product line in the
past year. Since the beginning of the year, we have been marketing
the line nationwide for the first time via a major US retail
organization. This broad distribution marks an important milestone
for us on the US market.
2011 2010 2011 2010 2011 2010
24 Martin t. Miller CEO
25

www.melitta.ca
Melitta Canada
Melitta Canada was founded in Toronto in 1960. The company markets premium filter papers and
coffee. With an increasing number of discerning coffee lovers, the Canadian market for high-quality
products and specialties in the coffee segment is growing.
ALL SUB-SEGMENTS SUCCESSFUL DESPITE
ADVERSE MARKET ENVIRONMENT
Economic conditions continued to be strained in Canada during
the past year. As a result, customers remained highly sensitive to
prices. Despite these adverse conditions we succeeded in raising
sales revenue during the past year. In terms of volume, however,
sales fell short of targets set at the beginning of the year. Earnings
were hit by unexpectedly strong price hikes for green beans.
The coffee market as a whole was extremely tense: in addition to
more cautious consumer spending and rising costs, competition
between suppliers became increasingly fierce. Despite increased
commodity prices for coffee, some competitors even lowered
their retail prices. In the single-serving coffee segment, demand
PRODUCTS
Roasted coffee (ground, whole bean),
filter papers
doubled year on year – making competition even more intense.
Against this backdrop, we suffered a decline in the volume of
coffee sold, while the market as whole grew. In terms of sales
revenue, however, we enjoyed strong growth. In this respect, we
were in line with the overall growth in market revenue.
In a generally declining market, we continue to dominate the Canadian
market for filter papers: our bamboo filter papers are now
the top-selling filters on the domestic market. Sales volumes of
our coffee filter papers remained unchanged from the previous
year, while the market as a whole shrank by 5 percent.
KEy FIGURES
SALES
in € ’000
25,366
23,953
CAPITAL
ExPENDITURE
in € ’000
94
64
EMPLOyEES
Average
10 10
SUCCESSFUL LAUNCH OF “CONNECT, ENGAGE,
REWARD” MARKETING STRATEGy
With the aid of specially targeted initiatives, we succeeded in
strengthening awareness of our brand among highly engaged
consumer groups – such as mothers. We were able to successfully
implement our strategy of intensifying contact with the consumer.
The increased use of social networks proved highly successful
and helped enhance customer retention. Sales promotion
activities and tastings also succeeded in significantly raising consumer
awareness of our products. Our coffee sampling vans in
four Canadian provinces gave consumers numerous opportunities
to experience Melitta ® products during various public events.
OUTLOOK 2012
We expect to achieve double-digit growth in 2012, driven by
a strong increase in our coffee business. We will continue our
strong marketing support for coffee with extensive online activities,
store promotions and further nationwide use of our event
vehicles.
In terms of filter paper sales, we expect revenue to remain unchanged
from the previous year. A modest increase in sales of
basket filters is likely to be offset by a slight decline in the cone filter
segment. We shall also be supporting our filter paper business
with consumer and trade promotions designed to raise market
share.
With new products and a new pack design, we aim to boost interest
in the pour-over method of coffee preparation.
2011 2010 2011 2010 2011 2010
26 William J. Ivany CEO
27
LOCATION
Vaughan (Canada)

www.wolf-pvg.de
Wolf PVG
Wolf PVG is a highly specialized systems supplier for all products related to vacuum cleaning and
industrial filter technology. The company develops, produces and markets vacuum cleaner accessories,
such as vacuum cleaner bags, nozzles and dust filters, as well as filters for small appliances. An
important partner for vacuum cleaner accessories is Melitta Household Products Europe.
ONLy SLIGHT REVENUE GROWTH DESPITE
ADDITIONAL OEM BUSINESS
In the fiscal year 2011, we launched production on a new nonwoven
filter line at our production facility in Spenge. This investment
will have a noticeable impact on product quality: equipped
with the latest technology, the new line enables us to produce air
filters and vacuum cleaner bags which can filter out even more
and even smaller particles – without raising the energy consumption
of the vacuum cleaner fan. Our products therefore play an
important role in improving both hygiene and energy efficiency.
As a consequence of this move, we pooled all production capacity
at our Spenge plant during the past year and closed operations
at the Airflo plant in Belgium.
PRODUCTS
Vacuum cleaner bags, holders for vacuum cleaner bags,
vacuum cleaner nozzles,
particle and odor filters
Compared to the previous year, we achieved only a slight increase
in revenues in 2011. The reason was weaker than expected growth
in our private label business. This was offset by growth in sales
of new products to original equipment manufacturers (OEMs).
In addition to sluggish overall demand on the market, the first
half-year was dominated by further hikes in the cost of raw materials.
KEy FIGURES
SALES
TOTAL SALES
CAPITAL
ExPENDITURE
in € ’000
in € ’000
in € ’000
21,738
19,949
43,686 42,694 6,196
3,840
EMPLOyEES
Average
242
220
LOCATIONS
Vlotho-Exter (Germany),
Spenge (Germany)
OUTLOOK 2012:
ExPANSION OF OEM BUSINESS
AND GREATER ExPERTISE
In the current fiscal year, we have to assume that the trend from
last year will continue: in other words, a slight decline in our private
label business. However, we hope to compensate for this
development with further growth in OEM sales.
In order to strengthen our business base for future developments,
we plan to expand our expertise in the field of filter media.
2011 2010 2011 2010 2011 2010 2011 2010
28 dr. lutwin spix CEO
29

www.nkpaper.com
Neu Kaliss Spezialpapier
Neu Kaliss Spezialpapier GmbH manufactures specialist papers and nonwoven materials for industrial
use. The company is also active in the conversion and marketing of paper products for various
niche markets.
NEW SALES FOCUS AND PRODUCT
DEVELOPMENTS PUT COMPANy ON
SUCCESSFUL COURSE
Rising commodity costs in all segments and tough competitive
conditions dictated business in our product markets during the
past year. As a consequence, a number of competitors in our field
were forced to close production facilities. In contrast to these developments,
Neu Kaliss Spezialpapier enjoyed further encouraging
progress in 2011. For the sixth year on the run, we achieved
our revenue target with year-on-year sales growth in double figures.
We attribute this success to our strategy of focusing sales efforts
on export markets and focusing R&D activities on developing
PRODUCTS
Specialist papers
and enhancing nonwoven materials for use in high-quality application
fields. There was particularly strong growth in exports
to China and Eastern Europe. Moreover, we enjoyed a significant
increase in demand in the USA and Great Britain.
Our largest project at the moment is the refit of the Berlin paper
plant. Thanks to excellent cooperation between the two teams
involved, the project is making good progress. This move gives
us the potential to double our capacities in the medium term and
expand our range of wallpaper base nonwovens.
The restructuring will also result in numerous organizational and
technological changes. In 2012, we have planned various refitting
activities for existing machinery, such as a complete refit of the
paper machine and the launch of a new “inclined wire” line. This
KEy FIGURES
SALES
CAPITAL
ExPENDITURE EMPLOyEES
in € ’000
in € ’000
Average
40,463
35,913
8,456 132 129
1,289
LOCATION
Neu Kaliß (Germany)
will also involve changing internal processes at the plant. In addition,
we plan to appoint new staff in key positions and establish
management systems for the Environment & Energy fields.
OUTLOOK 2012:
ADAPTING TO MARKET DEMANDS WITH
TARGETED PRODUCT RANGE STRATEGy
With our increased production capacities and variety of qualities,
we are confident about the year ahead. Our strategic alignment
is geared toward developing the right product ranges for the right
markets. This will make us more resistant to economic crises and
more successful in our business operations. All current indications
lead us to believe that we can continue our successful development
in future.
dieter kirchner CEO
2011 2010 2011 2010 2011 2010
30 John paul Fender CEO
31

www.acw-film.de
ACW-Film
ACW-Film develops, produces and markets flexible packaging for industrial clients in the consumer
goods industry. The company supplies rolls of film, paper and various composites which can be upgraded
with printing and functional coatings. Its main customers are in the food industry in the field
of sweets and fresh meat, as well as washing and cleaning products. With its acquisition of ACW-Film
in 2010, Melitta added a further B2B operation to the industrial business of its subsidiaries Wolf PVG
and Neu Kaliss Spezialpapier. From its base in Rhede/Ems, Germany, ACW-Film supplies only domestic
customers.
COMPANy UTILIzES POSITIVE CONDITIONS FOR
SALES GROWTH
The upbeat mood among consumers over the past year had a
generally positive impact on the food sector, which is particularly
relevant for our business. As most markets in this sector are already
saturated, the industry is forced to target success via new
value added strategies – for example with user-friendly packaging
offering added benefits. This also raised the necessary pace of
innovation for us as suppliers.
We rose to this challenge and continued our successful development
with further double-digit revenue growth. The pace of
growth varied, however, among the company’s different product
PRODUCTS
Flexible packaging,
rolls of film, paper and various composites
fields: whereas sweets packaging posted only a slight increase,
there was further strong growth in the field of fresh meat packaging.
Although growth was not quite so dynamic in the packaging
market for washing and cleaning products, there was also a significant
rise in revenue. We benefited above all from the recovery
of branded products in this segment.
INVESTMENTS IN THE FUTURE: NEW
TECHNOLOGy AND VERTICAL INTEGRATION
In order to prepare for further growth, we made extensive investments
in new plant and machinery in 2011: a new production hall
offers desperately needed space for the expansion of the print
shop. The production launch of a new laminating line opens up
KEy FIGURES*
SALES
in € ’000
6,803 407 27
2,544
CAPITAL
ExPENDITURE
in € ’000
194
EMPLOyEES
Average
12
LOCATION
Rhede/Ems (Germany)
completely new possibilities for product manufacturing – offering
additional value added and thus access to new markets.
OUTLOOK 2012:
CONTINUATION OF POSITIVE DEVELOPMENT
We expect increased consumer interest in higher-quality products
once again in 2012. We are particularly well placed in this segment
and expect to benefit correspondingly from this development.
While the markets for sweets and washing/cleaning products
are likely to stagnate, we anticipate further dynamic growth
in the market for fresh meat packaging in 2012. We will secure
this growth by investing in a new gravure printing machine, which
will also give us a significant competitive advantage. We plan to
launch production on the new line at the end of the year.
Holger achelpohl CEO
2011 2010 2011 2010 2011 2010
32 Helmut Cywinski CEO
33
*Prior-year figures refer to the second half of the year.

Financial information
Financial figures at a glance
Group management report
Consolidated balance sheet
Explanatory notes
In PrIncIPIo creavIt Deus caelum et terram
34 35

FInanCIal FIgures at a glanCe
Melitta Group 2011
KEy FIGURES 2011
Share
of sales Sales
Capital
expenditures Employees
in percent in € ’000 in € ’000 Average
Melitta Household Products Europe 24 344,017 3,855 1,316
Cofresco Freshkeeping Products Europe 5 67,675 5,034 306
Melitta Coffee Europe 27 395,595 4,449 174
Melitta SystemService 10 136,428 1,938 689
Melitta Brasil 22 314,835 3,312 590
Melitta USA 4 55,347 1,209 109
Melitta Canada 2 25,366 64 10
Wolf PVG 2 21,738 6,196 220
Neu Kaliss Spezialpapier 3 40,463 8,456 132
ACW-Film 1 6,803 407 27
Shareholdings 0 64 862 58
Melitta Group total 1,408,331 35,782 3,631
REGIONAL DEVELOPMENT 2011
Germany
Europe
(excl. Germany)
South America
North America
Sales by Region in € ’000
2011
557.067
2010 532.502
2011
444.218
2010 398.331
2011
2010
2011
2010
256.668
226.481
97.708
93.727
Asia 2011
52.670
2010 50.361
Employees by Region
2011
2010
2011
2010
2011
2010
2011
2010
2011
2010
1.788
1.754
580
673
590
585
205
231
468
569
SALES By PRODUCT GROUPS 2011
FInanCIal FIgures at a glanCe
36 37
46%
Coffee Enjoyment “Coffee”
12%
Coffee Enjoyment “Filter paper”
8%
Coffee Enjoyment “Coffeemakers”
13%
Freshness and Flavour
5%
Convenient Cleaning
6%
Industrial Paper
11%
Others

group ManageMent report
Group Management Report
for the Fiscal Year 2011
The Melitta Group was generally satisfied with the course of business in its fiscal year 2011. Against the backdrop
of positive economic conditions, our Group succeeded in raising consolidated sales. Developments on
the financial markets had only a minor negative impact on our business. Despite sales growth of 8 percent –
aided by price increases – we were unable to translate this positive trend fully into earnings.
BUSINESS ACTIVITy AND GROUP STRUCTURE
leading international manufacturer of branded products with
decentralized management
Melitta is an international manufacturer of branded products
and one of Germany’s best-known family companies. Our
branded goods are generally among the leaders in their relevant
markets. The product range comprises branded products
for coffee enjoyment, food storage and preparation, as well as
domestic cleaning. We have also expanded our B2B business,
as planned, which mainly consists of special-grade papers and
packaging films.
Our Group is organized decentrally. This enables us to closely
align operations with the needs of respective markets via our operating
divisions and national subsidiaries. With the aid of central
corporate divisions, Chief Corporate Management steers the
Group according to a common vision and on the basis of fundamental
corporate principles.
activities pooled in three strategic business fields
The Group has pooled its activities in three strategic business
fields and a segment which focuses on industrial clients (B2B):
the strategic business field “Coffee and Tea Enjoyment” accounts
for 66 percent (prior year: 63 percent) of the Group’s total consolidated
sales. It is also the business field in which Melitta is not
only represented in Europe, but also in the Americas and parts
of Asia. Within this business field, the Melitta ® brand range of
coffees, filter papers and coffee machines for domestic and commercial
use generates the largest proportion of sales.
The main focus of the strategic business field “Convenient Cleaning”
are its dust filter bags and vacuum cleaner accessories, as
well as products for household waste disposal. Total sales of this
business field were up on the previous year, although its share of
consolidated sales fell slightly from 6 percent to 5 percent.
In Europe, Melitta is one of the few suppliers of branded goods
for the fresh-keeping, storage and preparation of food. The strategic
business field “Freshness and Flavour” comprises a variety of
products marketed under the Toppits ® , handy bag ® and Albal ®
brands, which together accounted for 12 percent of total sales
in 2011 (prior year: 13 percent). The Cofresco sub-group is also
allocated to the strategic business field “Freshness and Flavour”.
Melitta owns a 65 percent stake in Cofresco.
Sales activities of the two strategic business fields “Convenient
Cleaning” and “Freshness and Flavour” are focused on Europe.
Together with private label products, the other product lines of
the B2B segment account for 17 percent of total sales (prior year:
18 percent). They include specialist papers for the wallpaper industry
and industrial films for food packaging.
In its most important sales markets, Melitta is represented by its
own local sales companies. In addition to manufacturing facilities
in Germany, the Group also has production sites in the USA and
Brazil to serve the local markets.
DEVELOPMENT OF BUSINESS
positive economic climate and rising prices
The global economic conditions were positive in 2011. The exception
were those European nations hit by the financial crisis, where
the general mood of uncertainty prevented growth in consumer
spending.
There was a marked upturn in Germany during the first part of the
year, which tailed off in the fall. In view of falling unemployment
figures, low interest rates and a growing propensity to consume,
however, the retail sector achieved nominal growth of 2.4 percent.
This was helped in part by a strong increase in retail prices.
This price increase also affected German coffee sales: over the
year as a whole, a total of 328,000 tons of roasted coffee was sold
in Germany – approximately the same amount as in the previous
year. In terms of revenue, however, there was a significant
increase of 21 percent to € 3.1 billion. Domestic sales of ground
coffee were down 2 percent by volume. The reason was a sharp
decline in sales in December. In terms of revenue, however, the
ground coffee market also enjoyed growth.
The Brazilian economy continued its encouraging growth of the
past few years with an increase in gross domestic product (GDP)
of 2.7 percent. After Germany, Brazil is our second largest sales
market. In terms of volume, however, the local coffee market suffered
a decline: sharp price increases in the market segment of
relevance to Melitta led to a fall in sales volumes of around 4
percent to 336,000 tons. In terms of revenue, however, the coffee
market grew by 8 percent to € 1.7 billion.
group ManageMent report
group boosts revenues by 8 percent; all strategic business
fields contribute to growth
The consolidated sales revenue of the Melitta Group rose from
€ 1,301 million to € 1,408 million in the past year, corresponding
to growth of 8 percent. Price increases and changes in the
product range helped boost revenues by 11 percent, while falling
volumes in line with the general market trend resulted in a
3 percent decline.
Compared to the overall increase in consolidated sales, the strategic
business field “Coffee and Tea Enjoyment” enjoyed stronger
than average growth of 12 percent. This was largely driven by the
division’s ground coffee business, which achieved a 17 percent
increase in sales revenue while maintaining its market share.
Thanks in part to new product launches, there was also encouraging
growth in sales of fully automatic coffee machines for domestic
use. The food service sector, however, remained cautious
with regard to investments in new machinery in 2011. As a result,
revenues from sales of commercial coffee machines remained
unchanged from the previous year. The market for coffee filter
papers continued to decline in 2011. However, the fall in sales of
3 percent was in line with expectations for the fiscal year 2011.
Sales of the strategic business field “Convenient Cleaning” were
also broadly on target with a slight increase of 2 percent. Following
a decline in the previous year, there was disproportionately strong
growth in sales of garbage bags during the period under review.
Sales of vacuum filter bags remained firm at the prior-year level.
Although the pressure from private label suppliers and discounters
is still intense, the strategic business field “Freshness and Flavour”
succeeded in raising sales by 3 percent.
We once again enjoyed strong growth in our B2B sales of industrial
papers. Revenues were up 9 percent year on year. The excep-
38 39

group ManageMent report
tion were private label goods, where we suffered a particularly
heavy decline of 9 percent in Brazil. Sales of other product categories
were largely unchanged from the previous year.
The development of sales generated by our foreign subsidiaries
in Canada, the USA and Brazil was in line with the overall Group
trend. Adjusted for currency fluctuations, all companies succeeded
in raising sales revenues. As in Europe, however, this growth
was mainly driven by price increases.
Branded products remain key growth driver; falling contribution
margins in some areas
An analysis of sales across the various product categories once
again confirms the successful development of Melitta’s branded
products in 2011. They account for the overwhelming majority of
consolidated sales revenue (80 percent). Compared to the previous
year, we raised revenues of branded products by 10 percent
– thus reaching our targets for sales and market share in the fiscal
year 2011.
In terms of contribution margins, the development of our business
fields was less satisfactory in certain areas: this was mainly
due to high green bean prices, as well as consistently high prices
for other commodities, such as cellulose and aluminum. In addition,
the pressure on net sales prices to the retail trade remained
high. As a result, we were unable to avoid falling margins for certain
product categories.
Personnel expenses were slightly below the prior-year level.
All in all, the Melitta Group is still satisfied with the development
of earnings in the fiscal year 2011.
ASSETS AND FINANCE
Financial position remains stable; equity down slightly by three
percentage points
The Group’s total assets grew by € 11 million, from € 624 million
to € 635 million. There was a slight increase in non-current assets
of € 3 million, from € 232 million to € 235 million.
In 2011, capital expenditures focused on the expansion and renovation
of production facilities in Germany, the USA and Brazil. Investments
in property, plant and equipment totaled € 31 million,
while depreciation and disposals amounted to € 23 million. Additions,
disposals and writedowns of intangible assets and goodwill
resulted in a net decline of € 5 million.
With regard to current assets, price increases and rising material
costs resulted in unchanged inventories and increased receivables.
There was an opposing effect from writedowns on current assets.
Trade receivables – which also include receivables with remaining
terms of more than one year – increased by € 7 million, from
€ 199 million to € 206 million.
Other assets of € 25 million remained unchanged to the previous
year. Prepaid expenses remained unchanged at € 3 million. After
netting with deferred tax liabilities, there were deferred tax assets
of € 11 million as of the balance sheet date.
Equity capital decreased by € 14 million, from € 234 million to
€ 220 million. As a consequence, the equity ratio fell by three percentage
points to 35 percent. In calculating the equity ratio, liquid
funds of € 11 million were deducted from the balance sheet total.
The net decline in equity resulted from foreign currency changes
without effect on income, withdrawals of the owners and the result
of the reporting period.
Accruals for pensions and similar obligations increased from
€ 134 million to € 136 million. Other accruals total € 96 million,
down € 9 million on the previous year. Trade payables rose by
€ 5 million, from € 66 million to € 71 million.
As a result of the increase in tied-up capital, there was a decline
in cash flow from operating activities. Cash flow from investing
activities rose as a result of additional prepayments for capital
expenditures, especially for the construction of a new paper machine
in Berlin. Cash flow from financing activities was dominated
by withdrawals of the owners and an increase in bank liabilities.
Net bank liabilities increased from € 23 million to € 46 million.
After consideration of cash flow from operating activities, the remaining
funding requirements were met by an increase in short
to medium-term bank liabilities. As of the balance sheet date, the
Melitta Group had sufficient credit lines and unused mediumterm
credit commitments to finance its current operations.
There were no significant events after the end of the fiscal year.
group ManageMent report
40 41
EMPLOyEES
The average number of employees fell by 181 to 3,631 in the past
year. As of the balance sheet date, there were 76 apprentices in
Germany (prior year: 70).
OPPORTUNITIES AND RISKS
no recognizable risks jeopardizing the company; requirements
met to exploit opportunities
The Melitta Group uses a differentiated risk management system
aimed at the structured identification and assessment of oppor-
tunities and risks. Risk management is regarded as all organizational
regulations and measures for the early recognition, evaluation
and analysis of corporate risks.
Melitta pursues a business strategy which can be classified as
risk-averse. In the course of auditing the annual financial statements
2011, the external auditors confirmed that the risk early
recognition system was suitable and complies with statutory requirements.
The risk management system comprises suitable risk reporting
procedures. These ensure that the managers responsible are constantly
and quickly informed about potential risks and opportunities.
This enables both the Group and individual companies to
take fast and effective corrective measures.
The main risks of the Melitta Group result from general economic
developments, sector developments, and risks from general operating
activities.
However, these general risks are also countered by opportunities.
For the Melitta Group, these arise in particular from an upturn in
the economy and the resulting impetus to consumer spending.
Melitta generally seeks to utilize additional market opportunities
while taking account of the risks involved.
The Group is also exposed to financial risks, and especially risks
from currency and raw material fluctuations. Melitta counters raw
material price risks by concluding long-term procurement contracts
and using derivative financial instruments.
The monitoring and controlling of financial risks is entrusted
to the Group’s treasury division. Foreign exchange and interest
hedging instruments (options, swaps, futures and interest
derivatives) are used where necessary to hedge against specific
risks from existing or foreseeable underlying transactions. Liquid-

group ManageMent report
ity risks and risks from cash flow fluctuations are countered by
group-wide and ongoing liquidity planning.
Based on an analysis of the current risk situation, it can be stated
that there are no risks which might jeopardize the Group’s continued
existence. There are also no currently recognizable risks
which might jeopardize the Group’s continued existence in future.
OUTLOOK
In view of the stable market development at the beginning of the
current year, it appears that fears of a recession in Europe are unfounded.
Falling GDP figures predicted by economists at the end
of last year failed to materialize. Although economic forecasts for
the period ahead still differ, business confidence indicators are
signaling that the decline has bottomed out. A turnaround is now
expected in the middle of the year and GDP growth of 2 percent
is forecast for 2013.
A similar development is also expected in Brazil, our second
most important market. Against a backdrop of further improvements
in employment figures and a stable inflation rate, economists
now forecast GDP growth of 3.5 percent for 2012 and
5.4 percent for 2013.
We expect these favorable macroeconomic forecasts to also have
a positive impact on the development of our business. In the
current fiscal year, we see growth potential of approx. 2 percent in
sales revenue. This already takes into account the possible effects
on our Brazilian business from changes in legislation.
There will be no significant changes to our corporate structure
in 2012. We will continue to expand the field of special papers.
This will involve investing a further € 10–12 million in upgrading
the paper machine at our Berlin facility (following the project
start last year). The aim is to develop our business with industrial
papers over the coming years. The new production facilities in
Berlin are to be put into operation by the middle of this year.
Total capital expenditures are expected to be in the region of
€ 40 million.
Minden, March 2012
general partners
of Melitta unternehmensgruppe Bentz kg
In terms of commodity price developments, we do not expect further
hikes in 2012. There will therefore be no additional capital requirements
for cash flow from operating activities resulting from
an increase in net current assets. Net bank liabilities at the end of
the year are expected to be largely unchanged from the previous
year. This budgeted figure includes funds required to finance current
operations, planned capital expenditures and withdrawals by
the owners.
As a consequence, the balance sheet is expected to remain
healthy in 2012 with a sound equity ratio and moderate debt level.
For 2013, we expect that business will continue to make good
progress. This presupposes, however, that the current economic
assumptions for the Euro zone and Brazil in 2013 do not change
significantly.
group ManageMent report
42 43

ConsolIdated BalanCe sHeet
Consolidated Balance Sheet
Melitta Unternehmensgruppe Bentz KG
as at 12-31-2011 (abridged version) in € ’000
assets 12-31-2011 12-31-2010
Intangible assets 14,197 18,851
Tangible assets
Financial assets
182,861 175,028
Shares in affiliated companies 1,846 1,846
Participation interests 20,755 21,245
Other financial assets 14,977 14,779
Fixed assets 234,635 231,749
Inventories
Receivables and other current assets
143,441 143,865
Trade receivables 206,298 198,626
Other receivables and current assets 25,280 24,560
Cash and cash equivalents 11,638 10,330
Current assets 386,657 377,381
Other assets 14,101 15,227
Assets total 635,393 624,357
equity and liabilities
Equity 219,690 234,152
Pension accruals 135,553 134,133
Other accruals 95,951 105,087
Accruals 231,504 239,220
Debts 57,316 33,101
Trade payables 71,387 66,928
Other liabilities 47,359 44,502
Liabilities 176,062 144,532
Prepaid expenses 8,137 6,454
Equity and Liabilities total 635,393 624,357
Explanatory notes
on the consolidates balance sheet
1. GENERAL INFORMATION ON ACCOUNTING
AND VALUATION
Certain items of the consolidated financial statements, drawn
up in accordance with Sec. 13 German Company Disclosure Law
(PublG) in conjunction with Sec. 294–314 German Commercial
Code (HGB), have been combined for the publication of this annual
report for fiscal 2011. The Melitta Group makes use of the
exemption pursuant to Sec. 13 (3) Sentence 2 PublG regarding
the publishing of income statements. The consolidated financial
statements and Group management report, which were awarded
an unqualified audit opinion by the independent auditors, and
the disclosures pursuant to Sec. 5 (5) Sentence 3 PublG are published
in the Federal Gazette.
CONSOLIDATED GROUP
The consolidated financial statements include all domestic
and foreign companies under the common control of Melitta
Unternehmensgruppe Bentz KG.
The consolidated group comprises 59 (prior year: 56) companies,
of which 27 are based in Germany and 32 abroad.
Due to their minor importance for the assets, liabilities, financial
position and earnings of the Group, seven companies (prior
year: seven) were not included in the consolidated financial statements.
Despite a shareholding of over 20 percent, three other
companies were not included as associated companies since
Melitta Unternehmensgruppe Bentz KG exerts no significant influence
on their business and financial policy.
ConsolIdated BalanCe sHeet
In accordance with Secs. 311, 312 HGB, major participations are
to be valued using the equity method if a significant influence can
be exerted. This is the case with two companies (prior year: two).
The following changes to the consolidated group occurred in
2011: the companies Domofoil Beteiligungs GmbH, Domofoil
GmbH & Co. KG and Cofresco PM S.A.S. were founded and consolidated
for the first time as of December 31, 2011.
The companies included in the consolidation have exercised their
legal option to be exempted from an audit of their annual financial
statements. The auditor of the consolidated financial statements
examined the summarized annual financial statements
included in the consolidated financial statements and satisfied
himself that these annual financial statements complied with the
accounting and measurement regulations of the German Commercial
Code and generally accepted accounting principles.
CONSOLIDATION METHODS
The consolidated financial statements were prepared as at December
31, 2011. This is the balance sheet date for all companies
included in the consolidated accounts.
In the capital consolidation process, the acquisition cost or balance
sheet valuation of the shareholding is offset against the proportional
share of shareholders’ equity on the date of the initial
consolidation. Goodwill is formed for any resulting differences
– insofar as these cannot be directly attributed to, and depreciated
with, individual asset items – and amortized in the following
years with a useful life of 5–15 years with an effect on income. This
consolidation method is also used for investments in associated
44 45

ConsolIdated BalanCe sHeet
companies. The assessment of the amortization period is based
on the future use of the goodwill.
Investments in associated companies are consolidated using the
book value method. Intergroup trading profits from transactions
with associated companies were not eliminated.
Debt was consolidated according to Sec. 303 (1) HGB, while income
and expenditure were consolidated pursuant to Sec. 305 (1)
HGB and unrealized results eliminated in accordance with Sec.
304 (1) HGB.
Deferred taxes were formed for temporary differences with an effect
on income from consolidation transactions using individual tax rates.
ACCOUNTING AND VALUATION PRINCIPLES
Uniform valuation of assets throughout the Group is guaranteed
by the application of corporate guidelines, valid for all members
of the Melitta Group – with the exception of those companies
consolidated using the equity method. These corporate guidelines
correspond to commercial law regulations.
Intangible assets are valued at cost, while property, plant and
equipment are valued at acquisition or production cost; they
are written down using the straight-line or diminishing balance
method. In addition to direct costs, production costs also include
a proportionate amount of overhead costs and depreciation. Financial
assets are valued no higher than at acquisition cost, or
the lower fair value. In the case of permanent impairment, fixed
assets are subjected to non-scheduled depreciation.
Inventories are valued at acquisition or production cost. Raw
materials, supplies and merchandise are valued at the lower of
average purchase prices and current values. Unfinished and finished
goods are valued at production cost, which also includes a
reasonable amount of necessary overhead cost and depreciation.
Production costs are lowered accordingly, should this be necessary
to avoid valuation losses. Suitable allowances are made to
cover the risk from holding inventories.
Advanced payments, accounts receivable, other assets and cash
and cash equivalents are carried at their nominal values or the
lower rate for foreign currencies and the lower fair value in the
case of recognizable risks. Lump-sum allowances have been
made to cover general credit risks.
Pursuant to Sec. 306 HGB, deferred tax assets and liabilities are
formed for consolidation entries with an effect on income. Deferred
tax assets were formed for tax loss carryforwards for which
it can be assumed with adequate probability that they will be used
in future, as well as for temporary differences between the commercial
and tax balance sheet, after netting with deferred tax liabilities.
For the measurement of deferred taxes, the individual tax
rates of the affiliated companies included in consolidation were
considered (15–40 percent).
Accruals for pensions are calculated using the projected unit
credit method. Pension accruals are measured with an interest
rate of 5.14 percent as at December 31, 2011 (prior year: 5.17 percent).
In accordance with the simplifying provision of Sec. 253
(2) Sentence 2 HGB, a standard remaining term of 15 years was
assumed for the obligations. Future pay increases were taken
into account at a rate of 3.5 percent p.a. and pension increases
at a rate of 1.5 percent. Standard consideration throughout the
consolidated German companies was also given to the relevant
biometric calculation basis (including the RT 2005 G mortality
chart) and other calculation principles for the settlement amount
to be used. Accruals for pensions of foreign companies were calculated
as of December 31, 2011 using the projected unit credit
method with an interest rate of 5.14 percent and individual assumptions
as to pay and pension increases, as well as biometric
assumptions; in total, they have only minor significance for the
consolidated financial statements.
Other accruals cover all recognizable risks and uncertain commitments
in the amount of the respective settlement amount.
Accruals with maturities of over one year were measured in accordance
with Sec. 253 (2) HGB. Pursuant to Sec. 246 (2) HGB,
assets (plan assets) were netted with accruals for pension obligations
with a resulting asset-side difference from asset allocation
in the amount of the difference to fair value.
Subject to the fulfillment of the corresponding prerequisites,
transactions expected with a high level of probability (hedged
items) are placed together with derivative financial instruments
in hedging relationships in order to balance contrasting value
changes or cash flows from the acceptance of comparable risks.
Such hedging relationships are presented in the financial statements
using the net hedge presentation method.
Financial instruments are measured using generally accepted
valuation models and mathematical procedures based on current
market data.
Liabilities are carried at their respective settlement amounts.
CURRENCy TRANSLATION
The annual financial statements of consolidated subsidiaries
prepared in foreign currencies are translated using the modified
closing-date method. This means that balance sheet items in foreign
currencies are converted at the closing-date rate and income
statement items at average rates of 2011. Shares in affiliated companies,
subscribed capital and reserves are translated at historic
rates and any resulting differences in values are netted in equity.
Assets and liabilities denominated in foreign currencies are translated
at the spot rate as of the balance sheet date, providing there
are no hedging transactions.
DERIVATIVE FINANCIAL INSTRUMENTS AND
HEDGES
The Melitta Group uses derivative financial instruments for hedging
purposes. They are mainly used to hedge against the risks
arising from currency transactions expected with a high degree
of probability in the years 2012 and 2013. Responsibilities, controls
and the scope of action with regard to the conclusion and
processing of such financial instruments are defined in binding
internal guidelines.
ConsolIdated BalanCe sHeet
The following table presents an overview of the nominal values of
summarized hedges still open as at year-end 2011 with expected
underlying transactions pursuant to Sec. 254 HGB:
Risk Underlying transaction Hedging instrument Type of
hedge
Type Type Risk € million
Interest risk Cash flows from purchase
and sales transactions
The market values of the above mentioned financial derivatives
correspond to the price for the dissolution or replacement of the
transactions and are as follows as at December 31, 2011:
Foreign exchange futures
Foreign exchange options
The effectiveness of hedging relationships is examined using
the critical terms match method. This method is used as all key
valuation parameters of the underlying and hedging transactions
match each other.
46 47
Forward transaction
Option transaction
22
227
249
Macro-Hedge
(anticipative)
€ million
2011
– 1.4
16.4
15.0

ConsolIdated BalanCe sHeet
2. FIxED ASSETS
3. INVENTORIES
Book values as of additions
in € ’000 12-31-2011 12-31-2010*
depreciation
current year
other
changes
Intangible assets 14,196 18,851 4,094 8,568 –181
tangible assets
Land 95,708 95,672 3,945 4,598 689
Machines and equipment 62,879 55,847 12,166 11,802 6,668
Other tangible assets 24,274 23,509 15,241 3,265 –11,211
182,861 175,028 31,352 19,665 –3,854
Financial assets
Shares in affiliated companies 1,846 1,846 0 0 0
Participation interests 20,755 21,245 0 0 –490
Other financial assets 14,977 14,779 335 59 –78
37,578 37,870 335 59 –568
234,635 231,749 35,782 28,292 –4,603
* Differences arising from the currency translation of fixed and other assets at current rate values are
offset against shareholders’ equity or the corresponding liability items without affecting earnings.
in € ’000 12-31-2011 12-31-2010
Europe 111,102 106,807
South America 11,748 15,441
North America 13,859 13,506
Asia 6,732 8,111
143,441 143,865
4. TRADE RECEIVABLES
in € ’000 12-31-2011 12-31-2010
Europe 159,367 153,738
South America 31,410 29,891
North America 10,777 9,612
Asia 4,744 5,385
206,298 198,626
There are no liabilities due to banks with terms of over five years.
Minden, April 2012
general partners
of Melitta unternehmensgruppe Bentz kg
ConsolIdated BalanCe sHeet
48 49
5. DEBTS
in € ’000 12-31-2011 12-31-2010
Europe 49,473 24,971
South America 7,843 7,377
North America 0 293
Asia 0 460
57,316 33,101
6. TRADE PAyABLES
in € ’000 12-31-2011 12-31-2010
Europe 61,444 54,262
South America 2,507 3,501
North America 3,825 5,004
Asia 3,611 4,161
71,387 66,928

loCatIons
Melitta Companies
Melitta Companies with facility
usa
Canada
Brazil
spain
France
Belgium
netherlands
switzerland
denmark
germany
sweden
austria
Italy
Czech republic
poland
russia
50 51
China
Japan
europe
Belgium
Lokeren
Melitta België N.V.
denmark
Roskilde
Melitta Scandinavia A/S
germany
Minden
Melitta Unternehmensgruppe Bentz KG
Melitta Bentz GmbH & Co. KG
Bentz Beteiligungs GmbH & Co. KG
Melitta Zentralgesellschaft mbH & Co. KG
Melitta Haushaltsprodukte GmbH & Co. KG
Cofresco Frischhalteprodukte GmbH & Co. KG
Melitta SystemService GmbH & Co. KG
4brands reply GmbH & Co. KG (shares 49 %)
Bremen
Melitta Kaffee GmbH
Berlin
Neukölln Spezialpapier NK
GmbH & Co. KG
Vlotho / Spenge
Wolf PVG GmbH & Co. KG
Neu Kaliß
Neu Kaliss Spezialpapier GmbH
Stollberg-Breinig
esw electronic service willms
GmbH & Co. KG (shares 30 %)
Rhede
ACW-Film GmbH & Co. KG
Webo GmbH & Co. KG
France
Saint Tibault des Vignes
Melitta SystemService France S.A.S.
Paris
Cofresco PM S.A.S.
Melitta France S.A.S.
Chézy
Melitta France S.A.S.
Tourcoing
Codiac S.A.S.
netherlands
Hardinxveld-Giessendam
Melitta SystemService Benelux B.V.
Gorinchem
Melitta Nederland B.V.
austria
Salzburg
Melitta Ges.mbH
Melitta SystemService International GmbH,
Zweigniederlassung Österreich
poland
Brodnica
Cofresco Polska Sp. z o.o
russia
St. Petersburg
Melitta Russland AG
Cofresco RussCom OOO
sweden
Helsingborg
Melitta Scandinavia AB
switzerland
Egerkingen
Melitta GmbH
Hunzenschwil
Cafina AG
Italy
Volpiano
Cuki Cofresco S.p.A. (shares 18 %)
spain
Alcobendas / Madrid
Cofresco Iberica S.A.
Czech republic
Prague
Melitta ČR s.r.o.
nortH aMerICa
usa
Clearwater
Melitta USA Inc.
Cherry Hill
European Coffee Classics Inc.
Elgin
Melitta SystemService USA Inc.
Canada
Vaughan, Ontario
Melitta Canada Inc.
soutH aMerICa
loCatIons
Brazil
São Paulo / Avaré / Bom Jesus
Melitta do Brasil Industria e Comércio Ltda.
Guaíba
Celupa – Indústrial Celulose e Papel Guaíba Ltda.
asIa
China
Hongkong
Melitta Pacific Ltd.
Shenzhen
Shenzhen Melitta Household
Products Ltd.
Japan
Tokyo
Melitta Japan Ltd.

52
IMprInt
IMPRINT
Published by Melitta Unternehmensgruppe Bentz KG
Edited by
Public Relations and Corporate Finance
of the Melitta Group
Marienstraße 88
32425 Minden, Germany
Tel.: +49 571- 40 46 - 0
Fax: +49 571- 40 46 - 499
E-Mail: pr@mbv.melitta.de
Internet: www.melitta.info
Photos:
Ulrich Hartmann, Bielefeld, Germany
Melitta Companies
Concept and Design
Berichtsmanufaktur, Hamburg
Text Editing
Berichtsmanufaktur, Hamburg
Printing and Production
Zertani GmbH & Co. Die Druckerei KG, Bremen
© 2012 Melitta Unternehmensgruppe Bentz KG
Online version: www.melitta.info

www.melitta.info