100 % FUTURE - ALNO

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100 The carrying amount of deferred tax assets is reviewed at every reporting date, and reduced to the extent to which it is no longer likely that an adequate taxable profit will be available against which the deferred tax asset can at least be partially offset. Deferred tax assets that are not recognized on the balance sheet are reviewed at every reporting date, and recognized to the extent to which it has become likely that a future taxable profit will enable the deferred tax asset to be realized. Deferred tax assets and liabilities are netted if the conditions for netting tax liabilities with tax receivables apply. In addition, no deferred tax assets and liabilities are recognized if they result from the initial recognition of goodwill, an asset, or a liability, as part of a business transaction that is not a business combination, and if this initial recognition impacts neither the accounting result before income taxes nor taxable earnings. Deferred taxes relating to items posted directly to equity are recognized in equity, and not in the income statement. Value added tax Income, expenses, intangible assets, and property, plant and equipment are recorded after VAT has been deducted, to the extent that VAT is recoverable from a tax authority. Receivables and liabilities are recognized including VAT. Provisions are carried without taking VAT into account. The amount of VAT to be refunded by a tax authority, or which is to be paid to a tax authority, is carried under other assets or liabilities. Intangible assets Acquired and internally generated intangible assets are capitalized at cost according to IAS 38 if it is likely that their use will result in future economic benefits, and if it is possible to reliably estimate the costs of the asset. The cost of intangible assets solely comprises directly allocable costs. With regard to the accounting for, and measurement of, goodwill, please refer to our comments on consolidation methods, and the information in the section “Impairment testing for goodwill”. Other intangible assets, mostly software and other industrial property rights, are carried at cost, and are subjected to amortization over a useful life of between two and ten years. Research costs and non-capitalized development costs are carried as expenses on the date on which they arise. Intangible assets are either derecognized on disposal, or at the date when economic benefit is no longer expected from the continued use or sale of the asset. The gains or losses resulting from the disposal of the asset are calculated as the difference between the net realizable value and the carrying amount of the asset, and are recognized in income in the consolidated income statement in the period in which the asset is derecognized.
101 Property, plant and equipment Property, plant and equipment is measured at cost less depreciation and impairment losses within the meaning of IAS 16. Straight-line, pro rata depreciation is used, based on the following estimated useful lives: Years Buildings 25 – 60 Machines, operating and office equipment 2 – 25 Computer hardware 3 – 7 Property, plant and equipment is either derecognized on disposal, or at the date where no economic benefit is any longer expected from the continued use or sale of the asset. The gains or losses resulting from the disposal of the asset are calculated as the difference between the net realizable value and the carrying amount of the asset, and are recognized in income in the consolidated income statement in the period in which the asset is derecognized. The assets’ residual values, useful lives and depreciation methods are reviewed at the end of each fiscal year, and modified where necessary. Investment grants and subsidies received do not reduce the costs of the relevant assets, but are deferred as liabilities within the meaning of IAS 20.24, and are reversed to income over the useful lives of the subsidized assets. Finance leases ALNO AG leases office and operating equipment. Economic ownership of the leased items is to be allocated to the lessee in line with IAS 17 if this party bears all the major opportunities and risks associated with the item (finance lease). All leased assets that qualify as finance leases are capitalized in the consolidated financial statements at their market value, or the present value of the lease installments, whichever is lower. These are depreciated over their useful lives or the term of the lease agreement, whichever is shorter. Impairment tests IMPAIRMENT TESTING FOR GOODwILL Goodwill from business combinations is allocated to the cash generating units that obtain the benefits from the combination. The EUR 2,535 thousand of goodwill allocated to ALNO AG in previous years was fully written off due to the impairment test that was conducted in the 2009 fiscal year. The EUR 1.483 thousand of goodwill remaining within the ALNO Group is attributed entirely to the CASAWELL Group. The CASAWELL Group comprises Gustav Wellmann GmbH & Co. KG and its subsidiaries. Goodwill impairment tests are conducted at the end of each fiscal year, as well as during the fiscal year if there are any indications that value impairment has occurred. The recoverable amount for the respective cash generating unit is calculated in order to perform the impairment test according to IAS 36. The recoverable amount is the higher of the fair value of the cash generating unit less costs to sell, and the asset’s value in use.
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100 % FUTURE 2010 ANNUAL REPORT
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GROUP FINANCIAL FIGURES YEAR-ON-YEA
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3 100 % FUTURE — 2010 Annual Repo
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6 HISTORY 1960 1969 1927 1957 1958
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8 THE MANAGING BOARD The Managing B
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10 KEY ISSUES DISCUSSED IN PLENARY
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12 statements. Having concluded its
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14 THE ALNO SHARE ALNO (FRANKFURT)
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16 accrued to ALNO AG as a conseque
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19 1OO % FUTURE 20 ALNO brands 22 S
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21 ALNO ALNO is the Group‘s premi
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23 100 % Design - We embody a passi
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27 WHAT EVERYONE DREAMS OF Try and
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29 SE 100 % Lifestyle - Into the fu
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33 WE SHARE THE SAME VISION OF PEOP
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35 100 % Synergy - We have already
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37 WE HAVE TAKEN THE FIRST step tow
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39 1OO PERCENT EFFICIENCY ESPRIT- H
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42 GROUP MANAGEMENT REPORT OF ALNO
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44 II. GROUP STEERING The Group is
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46 IV. MARKET AND COMPETITIVE ENVIR
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48 V. PRODUCTS AND PRODUCTION The A
Page 52 and 53: 50 A study that ALNO AG mandated in
Page 54 and 55: 52 VIII. TARGETS AND STRATEGY The p
Page 56 and 57: 54 IX. FINANCIAL POSITION AND RESUL
Page 58 and 59: 56 Amortization of intangible asset
Page 60 and 61: 58 Revenue volumes for ALNO AG fell
Page 62 and 63: 60 the period under review with the
Page 64 and 65: 62 There was a significant, EUR 19.
Page 66 and 67: 64 B. REPORT ON EVENTS AFTER THE BA
Page 68 and 69: 66 Production of ESPRIT home kitche
Page 70 and 71: 68 c. REPORT ON OPPORTUNITIES AND R
Page 72 and 73: 70 Exchange rate risks Currency exc
Page 74 and 75: 72 invoicing process to be fully au
Page 76 and 77: 74 d. OTHER INFORMATION I. CORPORAT
Page 78 and 79: 76 RELEVANT INFORMATION ON CORPORAT
Page 80 and 81: 78 THE PRESIDENTIAL COMMITTEE CONSI
Page 82 and 83: 80 DIRECT OR INDIRECT INTERESTS IN
Page 84 and 85: 82 III. KEY CHARACTERISTICS OF THE
Page 87 and 88: 85 CONSOLIDATED FINANCIAL STATEMENT
Page 89 and 90: 87 CONSOLIDATED STATEMENT OF COMPRE
Page 91 and 92: 89 CONSOLIDATED CASH FLOW STATEMENT
Page 93 and 94: 91 NOTES TO THE CONSOLIDATED FINANC
Page 95 and 96: 93 2. AMENDMENTS TO ACCOUNTING METH
Page 97 and 98: 95 • Improvements to IFRSs 2010:
Page 99 and 100: 97 • IFRS 13 - Fair Value Measure
Page 101: 99 Exchange rate gains and losses a
Page 105 and 106: 103 Overview of the cash generating
Page 107 and 108: 105 Securities and participating in
Page 109 and 110: 107 5. KEY DISCRETIONARY DECISIONS,
Page 111 and 112: 109 4. COST OF MATERIALS In EUR tho
Page 113 and 114: 111 8. AMORTIZATION OF INTANGIBLE A
Page 115 and 116: 113 Deferred taxes comprise the fol
Page 117 and 118: 115 D. NOTES TO THE CONSOLIDATED BA
Page 119 and 120: 117 3. FINANCIAL ASSETS As of Decem
Page 121 and 122: 119 8. OTHER CURRENT ASSETS In EUR
Page 123 and 124: 121 On April 10, 2007, Küchen Hold
Page 125 and 126: 123 ABAG Aktienmarkt Beteiligungs A
Page 127 and 128: 125 According to the wording of the
Page 129 and 130: 127 c. Accumulated other comprehens
Page 131 and 132: 129 Apart from the interest expense
Page 133 and 134: 131 13. SHAREHOLDER LOANS During th
Page 135 and 136: 133 E. DISCONTINUED OPERATIONS In f
Page 137 and 138: 135 2009 By segment in EUR thousand
Page 139 and 140: 137 H. MANAGEMENT OF FINANCIAL RISK
Page 141 and 142: 139 Kitchens manufactured by the AL
Page 143 and 144: 141 Aggregated by measurement categ
Page 145 and 146: 143 J. RELATED PARTIES Insofar as t
Page 147 and 148: 145 Further mandates exercised by S
Page 149 and 150: 147 (previous year: EUR 209 thousan
Page 151 and 152: 149 The item relating to auditing s
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151 to be nominated by Küchen Hold
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153 P. DECLARATION OF CONFORMITY PU
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155 Without qualifying this opinion
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100 % FUTURE - ALNO

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