THE NATURE OF OUR BUSINESS – STABLE GROWTH - Symrise
THE NATURE OF OUR BUSINESS – STABLE GROWTH - Symrise
THE NATURE OF OUR BUSINESS – STABLE GROWTH - Symrise
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Sensitivity Analysis for Derivatives as at December 31, 2008<br />
A parallel transformation of the interest curve by 1% upwards or<br />
downwards would have the following impact on the financial result<br />
and on equity. The analysis is based on the assumption that all<br />
other variables, in particular exchange rates, remain constant.<br />
Interest swaps<br />
T€<br />
Interest swaps<br />
TUS$<br />
Sensitivity Analysis Deriving from Utilized<br />
Total Lines of Credit<br />
T€<br />
TUS$<br />
Nominal<br />
500,000<br />
300,000<br />
Carrying<br />
amount<br />
-9,089<br />
-8,117<br />
Annual Report 2008 <strong>Symrise</strong> AG 141<br />
1%<br />
Increase<br />
209<br />
thereof:<br />
secured<br />
380,000<br />
175,000<br />
Financial result Equity<br />
98<br />
1%<br />
Decrease<br />
-209<br />
-98<br />
thereof:<br />
unsecured<br />
120,000<br />
125,000<br />
1%<br />
Increase<br />
10,226<br />
4,826<br />
1%<br />
Increase<br />
7,200<br />
7,500<br />
1%<br />
Decrease<br />
-10,226<br />
-4,826<br />
1%<br />
Decrease<br />
4,800<br />
5,000<br />
10. RELATED PARTY TRANSACTIONS<br />
Executive Board members, former general managers as well as<br />
Supervisory Board members and former shareholder representatives<br />
qualify as related parties.<br />
A receivable amounting to T€ 23 resulted from overpayments,<br />
which derived from foreign currency conversion of salary computations<br />
on behalf of a member of the Executive Board (see report<br />
on remuneration), due to the fact that the basis for the salary computation<br />
was changed to US $ in the second half of 2008. This receivable<br />
has been recognized as a component of other assets.<br />
In fiscal year 2008, the former Executive Board member Mr. Horst-<br />
Otto Gerberding received the following monthly payments within<br />
the context of a termination agreement (Amended and Restated<br />
Services Agreement) deriving from 2003:<br />
› an interim allowance amounting to T€ 42 up to March 31, 2008<br />
› compensation payments amounting to T€ 42, deriving from a<br />
subsequent non-competition agreement. This entitlement exists<br />
up to and including September 2009. The payment relating to<br />
the period from September to December 2007 was made in<br />
2008.<br />
› retirement and pension entitlements totaling T€ 23 from April 1,<br />
2008 onwards. The pension entitlement derives from a contract<br />
of employment and benefits, dated July 29, 1983.<br />
Provisions for current pensions and pension entitlements for former<br />
members of the Executive Board amounting to € 2.1 million<br />
were recognized as at December 31, 2008.<br />
Notes
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