ANNUAL REPORT 2011 A.S. CRÉATION TAPETEN AG

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CONSOLIDATED FINANCIAL STATEMENTS ACCORDING TO IFRS 78 A.S. Création Tapeten AG, Gummersbach Consolidated cash flow statement for the period from January 1, 2011 to December 31, 2011 2011 2010 € ’000 € ’000 Operating activities Net profit 4,650 8,395 + Depreciation on tangible and intangible fixed asset 9,933 10,504 +/- Increase/decrease in long-term provisions 562 180 -/+ Income/expenses from investments accounted for at equity 226 89 -/+ Increase/decrease in present value of corporate income tax credit 225 216 -/+ Income/expenses from changes in deferred taxes –1,258 –357 Cash-flow 14,338 19,027 -/+ Profit/losses from disposal of tangible and intangible fixed assets –32 –55 –/+ Increase/decrease in inventories –1,724 –3,701 –/+ Increase/decrease in trade receivables 1,745 –87 +/– Increase/decrease in trade payables -95 -828 –/+ Increase/decrease in other net working capital -4,256 432 Cash-flow from operating activities Investing activities 9,976 14,788 Capital expenditures on tangible and intangible fixed assets –5,474 –5,844 -/+ Cash outflows/repayments for/from extended credits and bonds -6,200 0 - Cash outflows for acquisitions of consolidated companies (less acquired cash and cash equivalents) –6,970 –85 - Cash outflows for acquisitions of investments accounted for at equity -1,023 -897 + Proceeds from the disposal of tangible and intangible fixed assets 223 107 Cash-flow from investing activities Financing activities –19,444 –6,719 Dividends paid to shareholders of A.S. Création Tapeten AG –3,721 –3,308 - Repayment of liabilities from anticipation of the future acquisition of remaining shares 0 –407 +/- Raising/repayment of financial liabilities (interest-bearing) -4,756 -4,584 Cash-flow from financing activities 1,035 –8,299 Net change in cash and cash equivalents –8,433 –230 +/- Change in cash and cash equivalents due to exchange rate fluctuations -1 14 + Cash and cash equivalents at January 1 10,792 11,008 Cash and cash equivalents at December 31 2,358 10,792 Further information on the cash flow statement are presented in the notes (see No. 26).
A.S. Création Tapeten AG, Gummersbach Notes to the consolidated financial statements for fiscal year 2011 General A.S. Création Tapeten AG is a joint stock company registered in the Federal Republic of Germany. The address of the headquarters is Südstrasse 47, D-51645 Gummersbach. The consolidated fi nancial statements and the Group management report were prepared by A.S. Création Tapeten AG on the basis of the International Financial Reporting Standards (IFRS) as adopted by the European Union and the additional requirements pursuant to section 315a (1) of the German Commercial Code (Handelsgesetzbuch HGB). A.S. Création Tapeten AG has a policy of applying new IFRS as soon as they become effective. The following new or revised standards and interpretations had to be observed in the fi scal year 2011: • 2010 improvements to IFRS • IAS 24 (rev. 2009) “Related Party Disclosures” 73 • Amendment to IAS 32 “Classifi cation of Rights Issues” • Amendment to IFRIC 14 “Prepayments of a Minimum Funding Requirement” • IFRIC 19 “Extinguishing Financial Liabilities with Equity Instruments” The above provisions had no material impact on the consolidated fi nancial statements of A.S. Création. The following standards and interpretations have been published and partly endorsed by the EU Commission but are mandatory only for annual periods beginning after January 1, 2011: • Amendment to IFRS 7 “Disclosure Requirements for Transfer Transactions of Financial Assets” • Amendment to IAS 1 “Presentation of Items in Other Comprehensive Income” • Amendment to IAS 12 “Deferred Taxes on Investment Property” • IAS 19 (rev. 2011) “Employee Benefi ts” • Amendment to IAS 28 “Investments in Associates and Joint Ventures” • Amendment to IAS 32 “Offsetting of Financial Assets and Financial Liabilities” • Amendment to IFRS 7 “Disclosures – Offsetting of Financial Assets and Financial Liabilities” • IFRS 9 “Financial Instruments” CONSOLIDATED FINANCIAL STATEMENTS ACCORDING TO IFRS 79
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ANNUAL REPORT 2011 A.S. CRÉATION T
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Foreword 8 Managing Board and Super
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account, however, the A.S. Créatio
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higher sales also in the Eastern Eu
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January February April May November
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Board has transferred decision-maki
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• discussion about the recommenda
Page 15 and 16: CORPORATE GOVERNANCE STATEMENT AND
Page 17 and 18: Declaration of conformity pursuant
Page 19 and 20: to the Supervisory Board in writing
Page 21 and 22: Accounting and audit The consolidat
Page 23 and 24: Introduction The A.S. Création Gro
Page 25 and 26: possible. On the other hand, there
Page 27 and 28: homing or cocooning, which they see
Page 29 and 30: evenues generated by A.S. Création
Page 31 and 32: the fiscal year is due to the revis
Page 33 and 34: dards by an independent auditor on
Page 35 and 36: with effect from March 1, 2011. In
Page 37 and 38: Cash-flow in € m 17.6 19.0 2009 2
Page 39 and 40: production facility in Russia, the
Page 41 and 42: from the performance-oriented syste
Page 43 and 44: up to € 4,500,000 through the iss
Page 45 and 46: or its Audit Committee for the audi
Page 47 and 48: product for PVC, which would result
Page 49 and 50: with supplies to joint customers. A
Page 51 and 52: 5% are projected for Russia’s GDP
Page 53 and 54: start-up losses incurred in Russia
Page 55 and 56: Political stock markets weigh on sh
Page 57 and 58: light of this fact, the Managing Bo
Page 59 and 60: Shareholder Structure Free float 41
Page 61 and 62: CONSOLIDATED FINANCIAL STATEMENTS A
Page 63 and 64: Equity and Liabilities Notes 31.12.
Page 65: A.S. Création Tapeten AG, Gummersb
Page 69 and 70: of domestic and foreign companies i
Page 71 and 72: In accordance with IAS 21, foreign
Page 73 and 74: attributable cost but also the fact
Page 75 and 76: conditions, shorter useful lives re
Page 77 and 78: (2) Intangible fixed assets The tab
Page 79 and 80: (5) Other assets A breakdown of oth
Page 81 and 82: (8) Inventories Inventories compris
Page 83 and 84: As in the previous year, capital re
Page 85 and 86: (13) Other liabilities The breakdow
Page 87 and 88: The table below shows the changes i
Page 89 and 90: administrative offence proceedings.
Page 91 and 92: (21) Depreciation A breakdown of de
Page 93 and 94: Complementary information (26) Cash
Page 95 and 96: The table below shows a breakdown o
Page 97 and 98: (31) Additional disclosures on fina
Page 99 and 100: (34) Supervisory Board In FY 2011,
Page 101 and 102: on its website. The declaration of
Page 103 and 104: In our opinion, based on the findin
Page 105 and 106: PROFIT APPROPRIATION PROPOSAL Balan
Page 107 and 108: Equity and Liabilities 31.12.2011 3
Page 109 and 110: March 22, 2012 Analyst presentation
Page 111: Cover photo: A fascinating microcos
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ANNUAL REPORT 2011 A.S. CRÉATION TAPETEN AG

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