Full RSDB annual report for 2008 - Roto Smeets Group

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Annual Accounts - Consolidated cash flow statement The cash flow from operating activities includes cash flows in: (x € 1,000) 2008 2007 Taxes paid - 2,246 - 2,505 Interest received 328 344 Interest paid - 3,682 - 3,444 - 5,600 - 5,605 The following summary shows the notes to the cash flow statement from the sale of 2organize, InBetween Marketing Services and Logic Use: (x € 1,000) 2007 Received from sale of shares 2organize, InBetween Marketing Services and Logic Use*) 5,000 Settlement current account 1,072 Cash and cash equivalents sold - 309 Cash flow from sale of shares 2organize, InBetween Marketing Services and Logic Use 5,763 *) Including result on sale associated company of € 3.7 million and accounted for in the cash flow statement under operating activities. RSDB Annual Report 2008 45
Annual Accounts - Accounting principles Introduction RSDB NV is a Dutch company with its registered office in Deventer (statutory office in Hilversum) the ordinary shares of which are listed on Euronext Amsterdam. The activities of RSDB are described in the Company Description on page 27. The consolidated annual accounts as at December 31, 2008 of RSDB were drawn up by the Management Board on March 18, 2009. The consolidated annual accounts of RSDB will be adopted by the General Meeting of Shareholders to be held at April 15, 2009.. In accordance with article 2:402 of the Netherlands Civil Code the company profit and loss account only states the result from associated companies after taxes as well as other results after participations. General STATEMENT OF COMPLIANCE The consolidated annual accounts of RSDB were drawn up in accordance with the standards drawn up by the International Accounting Standards Board and approved by the European Commission, hereafter to be called International Financial Reporting Standards (IFRS). The consolidated annual accounts were drawn up on the basis of historic costs, with the exception of financial instruments and financial assets available for divestment valued at market value. The consolidated annual accounts are stated in Euros and all amounts have been rounded off to thousands (€ 000), unless stated otherwise. CONSOLIDATION PRINCIPLES The consolidated annual accounts comprise the annual accounts of RSDB and its subsidiaries. Subsidiaries are those companies in which RSDB has a controlling interest, meaning that it has the power to control the financial and operating policies of these companies in order to gain advantage from their activities. The annual accounts of the subsidiaries have been drawn up as at the same reporting date as those of the parent company, applying uniform valuation principles. All balances and transactions, income and expenses within the group and profits and losses from transactions within the group included in the assets, are fully eliminated. Subsidiaries are consolidated as from the acquisition date, being the date on which actual control was gained over the acquired party. This consolidation is continued until the moment that the actual control ceases to exist. The minority interest of third parties in group equity and group profit is stated under minority interest. ASSETS AND LIABILITIES CLASSIFIED AS HELD FOR SALE AND DISCONTINUED ACTIVITIES Assets, liabilities and/or operating companies are designated as being held for sale if their book value will subsequently mainly be realised by way of a sales transaction which is planned to take place within twelve months and not by its continued use. Assets held for sale are valued at their book value or lower market value less sales costs. The discontinued activities and the group assets maintained for divestment have been separately stated in the balance sheet.The results of the fixed assets maintained for divestment and terminated activities have been stated separately in the profit and loss account. IMPORTANT CHANGES IFRS standards en IFRIC interpretations The IASB and IFRIC have issued new standards, amendments to existing standards and interpretations, some of which are not yet effective or have not yet been endorsed by the European Union. RSDB has introduced standards and interpretations that became effective in 2008. The adoption of these standards and interpretations did not have any effect on the group’s financial performance or position. The following standards and interpretations have not yet been adopted by RSDB: IFRS 8 Operating segments IFRS 8, issued in November 2006 and effective as from January 1, introduces the requirement to report financial and descriptive information about operating segments on the same basis as is used internally for evaluating operating segment performance and for decision making regarding the allocation of means. RSDB already uses the same performance measures and reporting structures for external financial reporting as were used for regular review of segment performance. This new standard does therefore not have a significant effect on the consolidated annual accounts. IFRS 3 / IAS 27R Valuation of business combinations The revised IFRS 3 will become effective as of 2010. It introduces a number of changes which have limited effect on RSDB. 46 RSDB Annual Report 2008
Page 1 and 2: RSDB in 2008 Annual Report
Page 3 and 4: Chairman’s report Dear shareholde
Page 5: Report of the Supervisory Board The
Page 8 and 9: as other factors that influence cor
Page 11 and 12: Report of the Management Board •
Page 13 and 14: Report of the Management Board shor
Page 15 and 16: Report of the Management Board conf
Page 17 and 18: Report of the Management Board Fina
Page 20 and 21: Report of the Management Board rega
Page 22 and 23: To guard the company culture and to
Page 24 and 25: On appointment of new board members
Page 26: Shareholders. The company has also
Page 29: Company description The present mem
Page 32 and 33: V11_Cover_ABO 1 03 NUMMER 11 14 T/M
Page 35 and 36: Corporate officers CURRICULUM VITAE
Page 37 and 38: Corporate branches Roto Smeets De B
Page 39 and 40: EBITDA as % of Added Value in milli
Page 41 and 42: Annual Accounts - Consolidated bala
Page 43 and 44: Annual Accounts - Consolidated stat
Page 45: Annual Accounts - Consolidated cash
Page 49 and 50: Annual Accounts - Accounting princi
Page 55 and 56: Transactions whereby no funds are e
Page 57 and 58: Annual Accounts - Notes to the cons
Page 83 and 84: of 3-month EURIBOR (at year-end 200
Page 89 and 90: Annual Accounts - Company financial
Page 91 and 92: Annual Accounts- Company balance sh
Page 93 and 94: Annual Accounts - Company statement
Page 95 and 96: Annual Accounts - Notes to the comp
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Annual Accounts - Notes to the comp
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Auditor’s report To the General M
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Foundation ‘Stichting Preferente
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Full RSDB annual report for 2008 - Roto Smeets Group

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