100 % FUTURE - ALNO

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X. SINGLE-ENTITY FINANCIAL STATEMENTS FOR ALNO AG ON THE BASIS
OF THE GERMAN COMMERCIAL CODE (HGB)
ALNO AG’s single-entity income statement (HGB) for 2010
In EUR thousand 2010 2009
Revenues 103,833 134,444
Changes in inventories and own work capitalized – 2,193 – 2,140
Other operating income 20,507 24,928
Total operating revenue 122,147 157,232
Cost of materials 48,073 65,374
Personnel expenses 41,443 43,531
Other operating expenses and other taxes 41,684 44,748
131,200 153,653
EBITDA – 9,053 3,579
Depreciation/amortization/impairment losses 7,310 6,788
EBIT – 16,363 – 3,209
Financial result 13,359 – 6,002
EBT – 3,004 – 9,211
Extraordinary result – 11,630 – 704
Taxes on income 11 0
Net loss for the year – 14,623 – 9,915
ALNO AG was obliged to absorb a revenue decline in the 2010 fiscal year. Although revenues in
Germany were down by 29.7 %, the revenue decline abroad was more moderate, at 5.6 %. By
contrast, net revenue per cabinet was increased from around EUR 193 to EUR 208, due to the
company’s decision to refrain from entering into low-margin sales.
In the single-entity financial statements of ALNO AG prepared on the basis of the German Commercial
Code (HGB), the gross profit margin in the 2010 fiscal year increased by 1.8 percentage
points to 51.6 % (previous year: 49.8 %), and reflects the further significant improvement in sales
quality also at ALNO AG. This is primarily due to the disproportionate fall in the cost of materials
compared with revenues.
The personnel expense was reduced by EUR 2.1 million, or by 4.8 %, to EUR 41.4 million (previous
year: EUR 43.5 million) primarily due to the workforce reduction measures that were started in the
year under review, and which will not exert their full impact until 2011.
Other operating expenses and other taxes fell by EUR 3.1 million, or 6.8 %, to EUR 41.7 million. Revenue-dependent
sales expenses fell in line with the revenue decline, and were offset by significantly
higher expenses for trade fairs and exhibitions. There was a significant reduction in administrative
expenses, which is mainly due to lower consultancy costs, and lower costs for external services.
Other operating income reduced by EUR 4.4 million, or 17.7 %, to EUR 20.5 million in the year under
review. Although there was higher income due to costs transferred within the Group, the previous
year’s figure contains significantly higher income from the reversal of specific valuation allowances
(+ EUR 10.9 million), particularly relating to Gustav Wellmann GmbH & Co. KG.