100 % FUTURE - ALNO

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146 THE MANAGING BOARD MEMBERS COMPRISE: • Max Müller, Magglingen/Switzerland (Managing Board Chairman/CEO; responsible for Marketing, Development, Production, Purchasing, Logistics and Quality) (from April 6, 2011) • Jörg Artmann, Düsseldorf (Managing Board member responsible for Finance/CFO, Personnel, IT) • Christoph Fughe, Bad Salzuflen (Managing Board member responsible for Sales, from April 6, 2011) • Jörg Deisel, Witten (Managing Board Chairman/CEO; responsible for Sales, Marketing and Development) (until April 6, 2011) • Michael Paterka, Ravenstein (Managing Board member responsible for Purchasing, Logistics and Quality) (until April 6, 2011) The Managing Board members held 55,643 ordinary shares as of the balance sheet date (previous year: 55,643). COMPENSATION REPORT Responsibility, objectives and structure of Managing Board compensation The Supervisory Board transferred responsibility for determining the structure and level of ALNO AG Managing Board compensation to the presidential committee, which, for its part, regularly informs the Supervisory Board about its resolutions, and seeks approvals from the plenary board as required. The Supervisory Board also holds consultations concerning the structure of the Managing Board compensation system, and reviews it regularly. The aim of the Managing Board compensation system is to appropriately remunerate Managing Board members according to their area of activity and responsibility, and to thereby clearly and directly take into account both joint and personal Managing Board performance, and corporate performance, through a high degree of variability. To this end, the compensation system includes individual fixed basic salaries, and variable compensation components with medium- and long-term incentive effect and risk character. This structure, its individual components, and the total compensation are reviewed every year in order to safeguard the competitiveness and appropriateness of Managing Board compensation. As a consequence, 2010 Managing Board compensation was composed of the following components that are presented in detail below. The fixed basic salary including non-cash compensation, which is paid out in 12 monthly installments, is based on the area of responsibility of the relevant Managing Board member. The variable compensation component, which is based on the company’s medium- and long-term value trend, generally reflects the consolidated EBIT margin and consolidated free cash flow, as well as individually agreed targets. Level of Managing Board compensation in 2010 The following information includes payments that were pledged or granted to individual Managing Board members of ALNO AG with respect to their activity as Managing Board members. Total Managing Board compensation is calculated by adding cash payments together with monetary benefits arising from noncash compensation. The latter primarily comprises the provision of company cars. A total of EUR 2,071 thousand was reported as expenditure in 2010 (previous year: EUR 1,148 thousand). Of this amount, EUR 979 thousand (previous year: EUR 948 thousand) was attributable to fixed compensation components, in other words, compensation components that were unrelated to performance, and EUR 1,092 thousand
147 (previous year: EUR 209 thousand) to variable, performance-related compensation components with medium- and long-term incentive effect. The variable compensation relates exclusively to 2010, including extraordinary variable compensation of EUR 725 thousand, which was granted in April 2010. Of the total expenses for 2010, EUR 1,186 thousand is attributable to Mr. Deisel (previous year: EUR 534 thousand), of which EUR 438 thousand (previous year: EUR 379 thousand) comprises fixed compensation components, and EUR 748 thousand (previous year: EUR 155 thousand) comprises variable compensation components (of which extraordinary: EUR 548 thousand). An amount of EUR 493 thousand is attributable to Mr. Artmann (previous year: EUR 170 thousand), of which EUR 280 thousand (previous year: EUR 163 thousand) comprises fixed compensation components, and EUR 213 thousand (previous year: EUR 7 thousand) comprises variable compensation components (of which extraordinary: EUR 113 thousand). An amount of EUR 392 thousand is attributable to Mr. Paterka (previous year: EUR 299 thousand), of which EUR 261 thousand (previous year: EUR 261 thousand) comprises fixed compensation components, and EUR 131 thousand (previous year: EUR 47 thousand) comprises variable compensation components (of which extraordinary: EUR 64 thousand). Pension plans From October 1, 2010, a defined contribution pension plan for Mr. Deisel and his surviving dependents was agreed for the event of entitlement (reaching the 60-year age limit, invalidity or death) for the duration of his employment by the company, for which a total amount of EUR 400 thousand is paid annually. A proportional amount of EUR 100 thousand was paid for this plan for the 2010 fiscal year. The amount is paid proportionally along with monthly salary payments to Mr. Deisel’s separate pension account. As a matter of principle, it is impossible for him to exert control over the pension account before the onset of entitlement. There are otherwise no obligations arising from pension commitments or similar pension regulations for the Managing Board members active during 2010. Key commitments to one Managing Board member given early discontinuation of his activity There are no arrangements to pay settlement fees to Managing Board members if they discontinue their activities before the end of their employment contracts. Payments to former Managing Board members of ALNO AG and their surviving dependents Payments paid to former ALNO AG Managing Board members and their surviving dependents amounted to EUR 447 thousand during the fiscal year (previous year: EUR 445 thousand). Provisions were formed for a total of EUR 7,515 thousand (previous year: EUR 7,011 thousand) for pension obligations to former Managing Board members and their surviving dependents. Employee equity compensation plan On October 22, 2007, the company set up an employee equity compensation plan (virtual stock option program) with a term until October 21, 2009, which has been extended until October 21, 2010, as part of which Managing Board members and leading ALNO Group employees may receive cash incentive payments in addition to their compensation. A number of external consultants who had been working on a long-term basis for ALNO AG were also included in the incentive program. Receipt of the incentive payment depends on program participants making their own investments, and on the performance of the company’s share price. The program expired as of October 21, 2010, as a consequence of which no liability for the employee equity compensation plan was recognized as of the balance sheet date. As of December 31, 2010, the Managing Board held a total of 44,643 shares from this employee equity compensation plan, of which Mr. Paterka held 44,643 (previous year: 44,643). Incentive payments have not been rendered from this plan, however. Apart from the employee equity compensation plan, no other stock options have been issued to the Managing and Supervisory boards.
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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
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91 NOTES TO THE CONSOLIDATED FINANC
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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
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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
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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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