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p : 175 | c :8 Actuarial gains and losses recorded in equity: t.39 t.1 Plan asset classes: 2012 2011 € million € million Actuarial (gains) and losses in the financial year 1.9 3.8 total expenses directly recognized in equity in the financial year 1.9 3.8 Expenses recognized in equity in previous years 11.8 7.7 Currency exchange differences 0.3 0.3 accumulated expenses recognized in equity 14.0 11.8 t.40 t.1 2012 2011 € million € million Stocks 6.8 5.7 Bonds 10.6 16.0 Hedge funds 0.2 0.1 Derivatives 7.8 0.0 Real estate 3.1 2.8 Insurance 9.7 8.8 Other 0.5 1.2 total plan assets 38.7 34.6 Plan assets do not include the Group’s own financial instruments. In 2012, the actual return on plan assets amounted to € 2.7 million (previous year: € 1.7 million). The expected return on external plan assets is determined separately for each asset class based on capital market research and return forecasts. Insurance contracts account for 25.1% of the plan assets. The determination of the expected return on plan assets was based on the published or expected return of the insurance company concerned. PUMA BUsiness And sUstAinABility RePoRt 2012 The following assumptions were used to determine pension obligations and pension expenses: t.41 t.1 2012 2011 Discount rate 3.72 % 4.27 % Future pension increases 2.05 % 2.07 % Future salary increases 3.59 % 4.08 % Expected return on external plan assets 4.51 % 4.64 % The indicated values are weighted average values. A standard interest rate of 3.5% (previous year: 4.5%) was applied for the Euro zone. The pension provisions of PUMA SE were determined using the Klaus Heubeck “2005 G” mortality tables. Obligations, assets and cover ratio t.42 t.1 2012 2011 2010 2009* 2008 € million € million € million € million € million Present value of pension claims 69.4 64.4 56.4 50.0 41.0 Plan assets 38.7 34.6 30.4 24.6 19.7 Surplus / shortfall 30.7 29.8 26.0 25.4 21.3 * adjusted comparative figures pursuant to IAS 8 Adjustments based on experience t.43 t.1 2012 2011 2010 2009 2008 € million € million € million € million € million (Gains) / losses in plan assets based on experience -1.1 -0.4 -0.8 -0.7 (Gains) / losses in pension obligations based on experience CONsOlidated FiNaNCial statemeNts 2.6 1.2 -0.1 -0.5 1.8 0.8
p : 176 | c :8 16. other provIsIons t.44 t.1 Provisions for: 2011 2012 Currency adjustments, transfers Addition Utilization Reversal € million € million € million € million € million € million Warranties 10,6 -0,1 2,4 -5,6 -0,5 6.8 Purchasing risks 6,0 -0,1 2,6 -1,7 -0,7 6.1 Restructuring 0,0 -0,4 125,4 -29,8 0,0 95,2 Special items 5,3 0,0 0,0 -4,9 -0,4 0.0 Other 48,2 -1,3 20,6 -15,4 -3,8 48.3 total 70,1 -1,9 151,0 -57,4 5,4 156.4 The warranty provision is determined on the basis of the historical value of sales generated during the past six months. It is expected that a large amount of these expenses will fall due within the first six months of the next financial year. Purchasing risks relate primarily to materials and molds that are required for the manufacturing of shoes. The provision will probably result in a payment in the following year. The provision for restructuring includes expenses associated with the package of measures as part of the company-wide transformation and cost reduction program. Other provisions consist primarily of risks associated with legal disputes, provisions for anticipated losses from pending business and other risks. The provision for restructuring in the amount of € 8.1 million (previous year: € 0.0 million) includes long-term provisions. Other provisions also include long-term provisions in the amount of € 30.2 million (previous year: € 26.3 million). PUMA BUsiness And sUstAinABility RePoRt 2012 17. lIabIlItIes From the acQuIsItIon oF busIness entItIes Pursuant to the contracts entered into, purchase price liabilities associated with acquisitions of business enterprises lead to prorated payments. The resulting nominal amounts were discounted at a reasonable market interest rate, depending on the expected date of payment. The purchase price liability consists of: t.45 t.1 CONsOlidated FiNaNCial statemeNts 2012 2011 € million € million Due within one year 2.6 93.6 Due in more than one year 3.3 6.8 total 5.9 100.4 The decrease in liabilities from the acquisition of business entities during the reporting year is associated in particular with the acquisition of the remaining outstanding shares of Dobotex. 18. shareholDers’ eQuItY subscrIbeD capItal The subscribed capital corresponds to the subscribed capital of PUMA SE. As of the balance sheet date, the subscribed capital amounted to € 38.6 million and is divided into 15,082,464 fully paid-in bearer shares. Each no-par value share corresponds to € 2.56 of the share capital. Capital reserves rose by € 3.2 million as a result of the valuation of stock option programs for management (previous year: € 6.5 million). Changes in the circulating shares: t.46 t.1 2012 2011 circulating shares as of January 1 share 14,934,633 14,980,871 Conversion from Management Incentive Program share 4,646 78,335 Share buy-back share 0 -124,573 circulating shares as of December 31 share 14,939,279 14,934,633
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Business and sustainaBility RepoRt
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Content 5 PUMA.Creative 77 Creative
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“ OUR MISSION IS TO BECOME the mo
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p : 7 | C : 1 To our ShareholderS f
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p : 9 | C : 1 To our ShareholderS T
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PUMAVision “ ThE pROpER USE of sc
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p : 13 | C : 2 TM PUMAvision Fair H
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p : 15 | C : 2 PUMAVision STakEhOld
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p : 17 | C : 2 PUMAVision AwARDS AN
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p : 19 | C : 2 PUMAVision PUMA’s
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p : 21 | C : 2 f.5 t.1 > POTENTiAL
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p : 23 | C : 2 PUMAVision RETAiL TR
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p : 25 | C : 2 PUMAVision ORgANiZAT
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p : 27 | C : 2 PUMAVision CHARiTY C
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p : 29 | C : 2 PUMAVision SUSTAiNAB
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p : 31 | C : 2 PUMAVision TOTAL wOR
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p : 33 | C : 2 TURNOvER PUMAVision
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“ The world as we have creaTed iT
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p : 37 | c : 3 PUMA.SAfe puma.safe
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p : 39 | c : 3 PUMA.SAfe The puma p
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p : 41 | c : 3 PUMA.SAfe more susTa
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p : 43 | c : 3 PUMA.SAfe Prof. Dr.
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p : 45 | c : 3 PUMA.SAfe puma ends
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p : 47 | c : 3 PUMA.SAfe T.19 t.1 2
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p : 49 | c : 3 PUMA.SAfe t.20 T.22
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p : 51 | c : 3 PUMA.SAfe that decre
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p : 53 | c : 3 PUMA.SAfe tion durin
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p : 55 | c : 3 PUMA.SAfe chemicals
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p : 57 | c : 3 PUMA.SAfe and sustai
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p : 59 | c : 3 PUMA.SAfe PUMA audit
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p : 61 | c : 3 PUMA.SAfe Another ke
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p : 63 | c : 3 PUMA.SAfe facTory au
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p : 65 | c : 3 PUMA.SAfe For the fi
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p : 67 | c : 3 PUMA.SAfe T.25 t.1 2
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p : 69 | c : 3 PUMA.SAfe f.16 t.1 f
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“ Be the change that you wish to
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p : 73 | c : 4 PUMA BUsiness And sU
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p : 75 | c : 4 puma.peace PUMA.PeAc
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puma.creative Creative Art Network
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p : 79 | c : 5 PUMA BUsiness And sU
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p : 81 | c : 5 the oasis Pietra Bre
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p : 83 | c : 5 A large range of int
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P : 85 | C : 5 PUMAviSion PUMA BUSi
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“ At PUMA, we Are driven to look
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P : 89 | c : 6 brAnd StrAtegy FOLLO
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P : 91 | c : 6 PUMA BUsiness And sU
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P : 93 | c : 6 rUnning Exceptional
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P : 95 | c : 6 MotorSPort 1. puma u
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P : 97 | c : 6 PUMA BUsiness And sU
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P : 99 | c : 6 Spreading the puma v
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P : 101 | c : 6 FitneSS Join in the
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P : 103 | c : 6 LiFeStyLe 1. Spread
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Financial Year 2012 ManageMent Repo
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p : 107 | c : 2 overview 2012 2012
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p : 109 | c : 2 general economic co
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p : 111 | c : 2 These measures will
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p : 113 | c : 2 € million 3,500 3
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p : 115 | c : 2 F.7 t.1 € million
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p : 117 | c : 2 € million 1,600 1
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P : 119 | C : 2 Earnings bEforE tax
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p : 121 | c : 2 F.14 t.1 € millio
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p : 123 | c : 2 pUMa BUsiness and s
Page 126 and 127: p : 125 | c : 2 F.17 t.1 gross cash
Page 128 and 129: p : 127 | c : 2 t.4 t.1 pUMa BUsine
Page 130 and 131: p : 129 | c : 2 We are well positio
Page 132 and 133: P : 131 | C : 2 emPloyees number of
Page 134 and 135: p : 133 | c : 2 managing directors
Page 136 and 137: p : 135 | c : 2 risk and opportunit
Page 138 and 139: p : 137 | c : 2 ensure that PUMA pr
Page 140 and 141: p : 139 | c : 2 main Features oF th
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Page 144 and 145: p : 143 | c : 2 Effective implement
Page 146 and 147: p : 145 | c : 2 fied applicants. If
Page 148 and 149: 31 December 2012 Consolidated Finan
Page 150 and 151: p : 149 | c :8 t.1 assets consolIDa
Page 152 and 153: p : 151 | c :8 t.3 t.1 After tax Ta
Page 154 and 155: p : 153 | c :8 t.5 t.1 Subscribed R
Page 156 and 157: p : 155 | c :8 notes to the consolI
Page 158 and 159: p : 157 | c :8 The surplus of the a
Page 160 and 161: p : 159 | c :8 60. Brandon Services
Page 162 and 163: p : 161 | c :8 cash flow from that
Page 164 and 165: p : 163 | c :8 proDuct Development
Page 166 and 167: p : 165 | c :8 The age structure of
Page 168 and 169: p : 167 | c :8 9. propertY, plant a
Page 170 and 171: p : 169 | c :8 12. other non-curren
Page 172 and 173: p : 171 | c :8 The table below show
Page 174 and 175: p : 173 | c :8 Net income by measur
Page 178 and 179: p : 177 | c :8 capItal reserve The
Page 180 and 181: p : 179 | c :8 Changes in the “SO
Page 182 and 183: p : 181 | c :8 Income from associat
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Page 186 and 187: p : 185 | c :8 Total expenses resul
Page 188 and 189: p : 187 | c :8 The following overvi
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Page 193 and 194: p : 192 | c : 9 managIng DIrectors
Page 195 and 196: p : 194 | c : 9 CFAO S.A., Sèvres/
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Page 202 and 203: grI InDex Global Reporting Initiati
Page 204 and 205: p : 203 | c : 10 Indicator (Core/Ad
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Page 219 and 220: p : 218 | c : 11 puma Year-on-Year
Page 221: p : 220 | c : 11 puma group Develop
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