ANNUAL REPORT 2011 A.S. CRÉATION TAPETEN AG

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CONSOLIDATED FINANCIAL STATEMENTS ACCORDING TO IFRS 92 Deferred tax liabilities break down as follows: 31.12.11 31.12.10 € '000 € '000 Differences between the tax balance sheet and the commercial balance sheet –1,180 –1,290 Adjustments of individual financial statements to IFRS 5,365 6,081 Consolidation processes 2,525 2,991 6,710 7,782 Deferred taxes refer to the following balance sheet items: 31.12.11 31.12.10 Deferred Deferred Deferred Deferred tax tax tax tax assets liabilities assets liabilities € ’000 € ’000 € ’000 € ’000 Tangible fixed assets 10 8,563 0 9,129 Intangible fixed assets 68 393 0 585 Inventories 127 0 106 0 Trade receivables and other assets 90 177 0 305 Provisions for pensions 895 0 784 0 Other provisions 18 0 18 0 Other liabilities 1,475 4 1,549 0 Tax losses carried forward 521 0 337 0 3,204 9,137 2,794 10,019 Set-off* –2,427 –2,427 –2,237 –2,237 777 6,710 557 7,782 * According to IAS 12, deferred tax assets and deferred tax liabilities should, under certain conditions, be offset if they relate to income taxes levied by the same taxation authority.
(8) Inventories Inventories comprise the following: 31.12.11 31.12.10 € '000 € '000 Raw materials and supplies 3,798 3,971 Unfinished products 230 251 Finished goods and merchandise 42,387 40,484 46,415 44,706 Inventories with carrying amounts of € 11.038 million (2010: € 10.581 million) are recognised at the fair value less cost to sell. Impairments of inventories in an amount of € 0.336 million (2010: € 0.449 million) were recognised as an expense in the past fi scal year. (9) Trade receivables € 0.040 million (2010: € 0.028 million) of the trade receivables have a remaining term of more than one year. The table below shows the allowances on trade receivables: <strong>2011</strong> 2010 € '000 € '000 As of January 1 2,421 2,779 Allocation 292 427 Use 274 273 Release 567 512 As of December 31 1,872 2,421 Of the total allowances, an amount of € 0.550 million (2010: € 0.711 million) refers to itemised allowances and an amount of € 1.322 million (2010: € 1.710 million) refers to generalised itemised allowances. CONSOLIDATED FINANCIAL STATEMENTS ACCORDING TO IFRS 93
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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
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Declaration of conformity pursuant
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to the Supervisory Board in writing
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Accounting and audit The consolidat
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Introduction The A.S. Création Gro
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possible. On the other hand, there
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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 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: (5) Other assets A breakdown of oth
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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