ANNUAL REPORT 2011 A.S. CRÉATION TAPETEN AG

(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
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