Annual Report 2010 - Knorr-Bremse AG.

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30 Social responsibility and sustainability Particularly in times of globalization and climate change, being successful invariably also means conducting all aspects of one‘s business, from planning to execution, with foresight. Doing so in awareness of a responsibility for the impact of one‘s actions on people, the environment, and society, and working relentlessly to optimize that impact, has become a maxim of modern corporate management. In 2010, several projects were initiated to further enhance Knorr-Bremse‘s sustainability performance. For example, Knorr-Bremse became a signatory to the United Nations Global Compact initiative, thereby not only making a commitment to observe the Global Compact‘s ten globally acknowledged principles in the fields of human rights, labor, environment, and anti-corruption, but also undertaking to implement and promote them in its everyday work. efforts in the wake of natural disasters, such as the earthquake in Haiti, floods in Pakistan and the Czech Republic, and the toxic sludge disaster in Hungary. Knorr-Bremse Global Care was founded in response to the tsunami disaster of December 26, 2004 to provide unbureaucratic, effective and lasting help to the victims. Since then, 69 aid projects have been realized in a total of 31 countries on four continents. The projects are supervised on a voluntary basis and with great dedication by Knorr- Bremse employees. By year-end 2010, with donations totaling EUR 5.3 million, Global Care had reached out to help some 200,000 people. The spotlight in 2010 was on the adoption of the Knorr- Bremse Corporate Social Responsibility (CSR) Strategy, which anchors corporate responsibility and sustainability in the corporate strategy, the management system, and the company‘s business processes. Together with the Knorr-Bremse Corporate Values and the UITP Charta for Sustainable Development, the ten principles of the Global Compact form the basis for all activities and commitments in this area. Through its new CSR strategy, Knorr-Bremse is also responding to the needs of its customers, who are increasingly demanding documentary proof of compliance with and management of ecological and social standards. As in previous years, in 2010 Knorr-Bremse supported the charitable organization Knorr-Bremse Global Care, which was founded in 2005, providing funding for its activities in the amount of EUR 1,000,000 in the year under review. The main focus of the organization‘s activities in 2010 was on the pursuit of long-term projects, such as the construction of a permanent hospital ward in Burma‘s Irrawaddy Delta which was devastated by Cyclone Nardis in 2008. In 2010, the organization also supported several emergency relief
MANAGEMENT REPORT 31 Follow-up report Subsequent to the conclusion of fiscal 2010, effective January 1, 2011, Knorr-Bremse Nordic Rail Services AB, Lund, Sweden, acquired the Swedish specialist in the door systems aftermarket business Kalmar Tågkompetens AB, Kalmar, Sweden, strengthening its portfolio in the Northern European market. Moreover, on January 1, 2011, the Knorr-Bremse IT-Services GmbH organization, based in Munich, Germany, became operational. Knorr-Bremse IT-Services GmbH bundles the IT activities of Knorr-Bremse AG, Munich, Germany, Knorr- Bremse Systeme für Nutzfahrzeuge GmbH, Munich, Germany, and Knorr-Bremse Systeme für Schienenfahrzeuge GmbH, Munich, Germany, under one roof. Effective January 19, 2011, Knorr-Bremse Asia Pacific (Holding) Ltd., Hong Kong, China, and the Chinese manufacturer Chongqing CAFF Automotive Braking & Steering Systems Co. Ltd., Chongqing, China, founded the joint venture company Knorr-Bremse CAFF Systems for Commercial Vehicles Chongqing Ltd., Chongqing, China. Knorr-Bremse holds a 66% stake in the joint venture with the remaining 34% being held by its Chinese partner. The joint venture company manufactures brake components in the air supply and brake control segments, as well as components for transmission and clutch control systems.
Page 1 and 2: Annual Report | 2010 Knorr-Bremse G
Page 4 and 5: Main Majority-owned Subsidiaries of
Page 7 and 8: 1/Overview 04 06 08 10 12 2010 at a
Page 9 and 10: Knorr-Bremse Rail Vehicle Systems i
Page 11 and 12: EXECUTIVE BOARD 7 Dr. Dieter Wilhel
Page 13 and 14: SUPERVISORY BOARD 9 Heinz Hermann D
Page 15: SUPERVISORY BOARD 11 Statements and
Page 18 and 19: 14 The State and Development of Kno
Page 20 and 21: 16 Development of the Knorr-Bremse
Page 22 and 23: 18 the Daxing site a new production
Page 24 and 25: 20 Overall assessment of the econom
Page 26 and 27: 22 Regional developments by divisio
Page 28 and 29: 24 for example, procured another 18
Page 30 and 31: 26 ket also throttled back domestic
Page 32 and 33: 28 Research and development As a te
Page 36 and 37: 32 Report on risks and opportunitie
Page 38 and 39: 34 Outlook In 2011 the Knorr-Bremse
Page 41: 2/ Report Against a background of g
Page 44 and 45: 40 RepoR t | RAIL Ve HICLe SYSteMS
Page 54 and 55: 50 RepoRt | RAIL VeHICLe SYSteMS As
Page 62 and 63: 58 RepoRt | RAIL VeHICLe SYSteMS
Page 64 and 65: 60 RepoRt | RAIL VeHICLe SYSteMS In
Page 66 and 67: 62 HIGHLIGHt RepoRt | RAIL VeHICLe
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RepoRt 81 Partner with an excellent
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RepoR t 83 Market Successes Against
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RepoR t 85 North America Bendix bec
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RepoRt 87 Consistent performance th
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RepoRt 89 Asia Successes in China K
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RepoR t 91 PACCAR quality award The
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RepoR t 93 Projects During 2010 Kno
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RepoR t 95 By the end of the year u
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RepoRt 97 Focus on value creation A
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RepoR t 99 Products Reliable, safe,
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RepoR t 101 Tire Pressure Monitorin
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RepoRt 103 20-inch disc brake for C
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RepoR t 105 Service Knorr-Bremse’
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RepoR t 107 out progressively in th
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110 RepoR t | KnoRR-BR e MSe GR o U
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114 RepoRt | KnoRR-BReMSe GRoUp Fur
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118 RepoRt | KnoRR-BReMSe GRoUp CSR
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122 RepoRt | KnoRR-BReMSe GRoUp Pro
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132 RepoRt | KnoRR-BReMSe GRoUp Kno
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3/ Notes to the Consolidated Financ
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NOTES TO THE CONSOLIDATED FINANCIAL
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CONSOLIDATED CASH FLOW STATEMENT 15
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SEGMENT REPORT 157 Fiscal Year 2010
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INDEPENDENT AUDITOR’S REPORT 159
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CONSOLIDATED STATEMENT OF INCOME 16
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