ANNUAL REPORT 2011 A.S. CRÉATION TAPETEN AG

More documents

Recommendations

Info

CONSOLIDATED FINANCIAL STATEMENTS ACCORDING TO IFRS 102 (19) Other income Other income includes, among other things, income from the release of allowances for doubtful receivables and income from the expiry of obligations. It also includes income from disposals of tangible and intangible fixed assets in an amount of € 0.065 million (2010: € 0.064 million) as well as foreign exchange gains in an amount of € 0.067 million (2010: € 0.194 million). (20) Personnel expenses Personnel expenses are comprised as follows: 2011 2010 € ’000 € ’000 Wages and salaries 33,531 32,381 Social security contributions and pension expenses 7,745 6,955 41,276 39,336 Social security contributions and pension expenses include contributions to state pension insurance institutions in an amount of € 2.751 million (2010: € 2.592 million), allocations to pension provisions in an amount of € 0.256 million (2010: € 0.032 million) as well as payments to external relief funds and similar pension organisations due to defined contribution plans in an amount of € 0.187 million (2010: € 0.202 million). The table below shows the Group’s average headcount in the fiscal year (full time equivalents excluding the three members of the Managing Board): 2011 2010 Persons Persons Blue-collar workers 398 393 White-collar workers 359 337 Trainees and apprentices 39 42 796 772
(21) Depreciation A breakdown of depreciation is provided in the notes to tangible and intangible fixed assets (see No. 1 and No. 2 above). As in the previous year, total depreciation of € 9.933 million (2010: € 10.504 million) does not include any unscheduled depreciation. (21) Other operating expenses Other operating expenses mainly include expenses on freight out, advertising, rental and operating leases, maintenance and insurance policies. Moreover, they include losses from disposals of tangible and intangible fixed assets in an amount of € 0.033 million (2010: € 0.009 million) as well as foreign exchange losses of € 0.178 million (2010: 0.140 million). (23) Financial result The fi nancial result includes interest expenses in an amount of € 0.670 million (2010: € 0.480 million), which result from allocations to pension provisions. For details, please refer to No. 14 of the Notes. (24) Income taxes Income taxes include the taxes on income and earnings paid or due in the individual countries as well as deferred taxes. Income taxes are comprised as follows: 2011 2010 € ’000 € ’000 Current income tax expenses 3,933 4,314 Deferred taxes -1,258 -357 2,675 3,957 At € 2.675 million (2010: € 3.957 million), tax expenses exceeded the expected tax expenses of € 2.250 million (2010: € 3.793 million) that would have arisen based on the overall German tax rate of 30.71% (2010: 30.71%) by € 0.425 million (2010: € 0.164 million). The difference between expected and effective income tax expenses in the Group is due to the following: CONSOLIDATED FINANCIAL STATEMENTS ACCORDING TO IFRS 103
Page 1 and 2:
ANNUAL REPORT 2011 A.S. CRÉATION T
Page 3 and 4:
Foreword 8 Managing Board and Super
Page 5 and 6:
account, however, the A.S. Créatio
Page 7 and 8:
higher sales also in the Eastern Eu
Page 9 and 10:
January February April May November
Page 11 and 12:
Board has transferred decision-maki
Page 13 and 14:
• 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 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 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: administrative offence proceedings.
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
show all

ANNUAL REPORT 2011 A.S. CRÉATION TAPETEN AG

Create successful ePaper yourself

Delete template?

Save as template?