100 % FUTURE - ALNO

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142 The impairments on “loans and receivables” relate to the allocation to individual value allowances on trade receivables. Other net gains and losses include income from the collection of receivables written off, and from the reversal of individual value allowances, as well as expenses of writing off receivables. The other net gains and losses reported in the category “available-for-sale – measured at fair value” include income from securities investments, and the unrealized value changes recognized in equity. The other net losses in the “financial liabilities held-for-trading” category relate to the expenses arising from derivative financial instruments. Other net gains and losses from “financial liabilities measured cost” include income from derecognized liabilities, the income from the declared receivables waiver including debtor warrant, and the expense arising from the reporting date measurement of foreign currency loans. I. CONTINGENCIES AND OTHER FINANCIAL OBLIGATIONS As of December 31, 2010, there are liabilities under guarantee agreements amounting to EUR 406 thousand (previous year: EUR 339 thousand). The EUR 10,000 thousand loan waiver by the consortium banks includes a debtor warrant whereby the liabilities are reactivated depending on the achievement of a given key quantity as of December 31, 2013. On the basis of current planning, it is not anticipated that this key quantity will be achieved. There will also be a full waiver of the liability if the conditions mentioned under Point O. occur. The last condition was satisfied on March 4, 2011. Other financial obligations exist at the following levels: In EUR thousand Due in 2011 Due in 2012 – 2015 Due in 2016 and later Total Rental and lease contracts with third parties 3,680 5,531 1,204 10,415 Other contracts with third parties 12,324 31,230 11,596 55,150 Investment projects in progress 2,273 0 0 2,273 Supply contracts 2,550 1,600 800 4,950 Total 20,827 38,361 13,600 72,788 The investment projects in progress amounting to EUR 2,273 thousand relate in full to property, plant and equipment.
143 J. RELATED PARTIES Insofar as they are not already included in the consolidated financial statements as consolidated entities, persons or companies which can be controlled by the reporting entity, or which are able indirectly or directly to exercise control over the reporting entity, are deemed to be related parties. In detail, these are the following business relationships: Group of persons Major shareholders Joint ventures Business relationships 2010 In EUR thousand 2009 In EUR thousand 2010 In EUR thousand 2009 In EUR thousand Procurement of goods and services 95,621 86,723 0 0 Interest expense 2,595 3,419 0 0 Interest income 0 0 101 0 Other expenses 7 19 0 0 Financial and trade receivables 0 0 2,311 2,100 Financial liabilities 1,455 6,198 0 0 Trade payables and other liabilities 50,626 49,288 0 0 Interest rate 6.5 % or 9 % or Euribor + 9 % 3.5 % or 9 % or Euribor + 9 % 3 % 0 % Major shareholders with whom business relationships exist comprise (directly) Küchen Holding GmbH, Munich, and IRE Beteiligungs GmbH, Stuttgart, and (indirectly) RCG International Opportunities S.à r.l., Luxembourg, Cognis S.à r.l., Luxembourg, and Bauknecht Hausgeräte GmbH, Stuttgart. The joint venture relates to ALNO Middle East. The amount for procured goods and services essentially relates to ALNO AG’s supply contract with Bauknecht Hausgeräte GmbH, Stuttgart. This contract regulates the supply of electrical appliances to the ALNO Group, and was concluded on conditions customary on the market. The supply agreement has a term until November 30, 2015, and contains an interest-bearing overdraft facility. As part of the service agreement with Küchen Holding GmbH, this company invoiced a total of EUR 735 thousand for consultancy activities (previous year: EUR 315 thousand). In addition, EUR 207 thousand was invoiced for further consulting services and travel costs of a partner of Küchen Holding GmbH (previous year: EUR 209 thousand). Major shareholders declared a receivables waiver of EUR 4,909 thousand in the year under review (previous year: EUR 5,000 thousand). This was reported directly to equity under accumulated consolidated earnings. The loans granted by major shareholders have a term until December 31, 2011. Business transactions and compensation relating to members of executive bodies are listed in section L.
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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
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50 A study that ALNO AG mandated in
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52 VIII. TARGETS AND STRATEGY The p
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54 IX. FINANCIAL POSITION AND RESUL
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56 Amortization of intangible asset
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58 Revenue volumes for ALNO AG fell
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60 the period under review with the
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62 There was a significant, EUR 19.
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64 B. REPORT ON EVENTS AFTER THE BA
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66 Production of ESPRIT home kitche
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68 c. REPORT ON OPPORTUNITIES AND R
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70 Exchange rate risks Currency exc
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72 invoicing process to be fully au
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74 d. OTHER INFORMATION I. CORPORAT
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76 RELEVANT INFORMATION ON CORPORAT
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78 THE PRESIDENTIAL COMMITTEE CONSI
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80 DIRECT OR INDIRECT INTERESTS IN
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82 III. KEY CHARACTERISTICS OF THE
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85 CONSOLIDATED FINANCIAL STATEMENT
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87 CONSOLIDATED STATEMENT OF COMPRE
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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 and 102: 99 Exchange rate gains and losses a
Page 103 and 104: 101 Property, plant and equipment P
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: 141 Aggregated by measurement categ
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
Page 153 and 154: 151 to be nominated by Küchen Hold
Page 155 and 156: 153 P. DECLARATION OF CONFORMITY PU
Page 157 and 158: 155 Without qualifying this opinion
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100 % FUTURE - ALNO

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