ANNUAL REPORT 2011 A.S. CRÉATION TAPETEN AG

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CONSOLIDATED FINANCIAL STATEMENTS ACCORDING TO IFRS 82 The table below shows the fully consolidated companies: No. Company, location held by Share Nominal capital Wallpaper Division in % Dec. 31, 2011 1. A.S. Création Tapeten AG, Gummersbach/Germany 9,000,000 ¤ 2 . AS Creation (UK) Limited, Formby/UK No. 1 100.0 100,000 £ 3 . A.S. Création (NL) B.V., Werkendam/Netherlands No. 1 100.0 20,000 ¤ 4 . A.S. Création (France) SAS, Lyon/France No. 1 100.0 4,000,000 ¤ 5 . MCF Investissement SAS, Ballancourt/France No. 4 100.0 460,350 ¤ 6 . SCE-Société de conception et d’édition SAS, Boves/France No. 4 100.0 2,000,000 ¤ 7 . SCE Investissements SC, Boves/France No. 6 100.0 1,000 ¤ 8 . OOO A.S. Création (RUS), Moscow/Russia Furnishing Fabrics Division No. 1 100.0 25,000,000 RUB 9 . A.S. Création Textil GmbH, Marienheide/Germany No. 1 100.00 500,000 ¤ 10. Indes Fuggerhaus Textil GmbH, Marienheide/Germany No. 9 100.00 550,000 ¤ In addition, OOO A.S. & Palitra, Dzerzhinsk/Russia, in which A.S. Création Tapeten AG holds 50.0%, is accounted for using the equity method. This joint venture forms part of the Wallpaper Division. All financial statements included in the consolidated financial statements were established as of December 31, 2011 and were audited by independent chartered accountants or reviewed by the Group’s auditors. Currency translation A.S. Création Tapeten AG’s reporting currency is the euro (€). Assets and debts denominated in foreign currencies are translated at the exchange rate at the time of addition and adjusted to the respective closing rate at every balance sheet date. Resulting translation differences are shown in the income statement.
In accordance with IAS 21, foreign currencies in the financial statements of consolidated companies in non-EMU countries are translated according to the functional currency concept using the modifi ed closing rate method. Under this method, changes in non-current assets are translated at average annual rates, equity is translated at historical rates and all other balance sheet items are translated at closing rates. Differences referring to non-current assets are shown in the development of the Group’s tangible and intangible fi xed assets schedule in the “Currency translation” line. All items in the income statement are translated at the average annual rate. Currency differences are not recognised in the income statement but are allocated to the currency translation differences within the equity. Translation differences from debt consolidation are recognised in the income statement. An average annual rate of £ 0.86787/€ (2010: £ 0.85796/€) and a closing rate of £ 0.83670/€ (2010: £ 0.86250/€), were used for the pound sterling, while an average annual rate of RUB 40.88510/€ (2010: RUB 40.14295/€) and a 77 closing rate of RUB 41.68680/€ (2010: RUB 40.47460/€) were applied for the Russian rouble. Accounting and valuation principles Tangible fixed assets are reported at the cost of acquisition or production to be capitalised. In accordance with IAS 17, assets acquired under finance leases are shown at the lower of their current market value at the beginning of the lease or the present value of the minimum lease payments. With the exception of printing rollers and rotary screens, tangible fixed assets subject to depreciation are written off using the straight-line method. Depreciation is based on the following useful economic lives: Buildings 10 to 30 years High-bay warehouses 20 years Large machines 10 to 15 years Other machines 3 to 10 years Other plant, furniture and fixtures 3 to 10 years CONSOLIDATED FINANCIAL STATEMENTS ACCORDING TO IFRS 83
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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
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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 and 66: A.S. Création Tapeten AG, Gummersb
Page 67 and 68: A.S. Création Tapeten AG, Gummersb
Page 69: of domestic and foreign companies i
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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