measure and monitor the processes and report results ... - Refresco.de

More documents

Recommendations

Info

Financial review 2010 EUR’000 December 31, 2010 100 basis points increase Profit / (loss) Equity 100 basis points decrease 100 basis points increase 100 basis points decrease Variable rate instruments (5,458) 5,458 (5,458) 5,458 Net Interest rate swaps floating to fixed 6,281 (6,281) 6,281 (6,281) Total 823 (823) 823 (823) Variable rate instruments (5,458) 5,458 (5,458) 5,458 % not hedged by interest rate swaps 36.8% 36.8% 36.8% 36.8% Cash flow sensitivity (net) (2,008) 2,008 (2,008) 2,008 EUR’000 December 31, 2009 100 basis points increase Profit / (loss) Equity 100 basis points decrease 100 basis points increase 100 basis points decrease Variable rate instruments (5,273) 5,273 (5,273) 5,273 Net Interest rate swaps floating to fixed 8 500 (8,500) 8,500 (8,500) Total 3,227 (3,227) 3,227 (3,227) Variable rate instruments (5,273) 5,273 (5,273) 5,273 % not hedged by interest rate swaps 32.0% 32.0% 32.0% 32.0% Cash flow sensitivity (net) (1,687) 1,687 (1,687) 1,687 Fair values The fair values of financial assets and liabilities approximate the carrying amounts. Interest rates used for determining fair value The interest rates used to discount estimated cash flows, where applicable, are based on the government yield curve at the reporting date plus an adequate spread and were as follows: % 2010 2009 Derivatives 2.8% 2.0% Finance leases 5.3% 5.0%
6.3 Operating leases Operating lease and rentals as at December 31 are payable as follows: EUR’000 2010 2009 Less than one year 27,294 21,440 Between one and five years 58,394 46,213 More than five years 15,396 4,254 101,084 71,907 The Group leases buildings, equipment and cars. During 2010, EUR 23,688,000 was recognized as expense in the income statement in respect of operating leases and rentals (2009: EUR 20,016,000). 6.4 Purchase and investment commitments The composition as at December 31 was as follows: EUR’000 Total Less than 1 year 1-5 years More than 5 years Total 2009 Property, plant & equipment ordered 16,285 15,985 300 0 7,334 Raw material purchase contracts 230,000 230,000 0 0 146,145 6.5 Contingencies 246,285 245,985 300 0 153,479 The group companies are jointly and individually liable vis à vis the syndicate of banks. Banks have issued guarantees to suppliers and customs on behalf of the Group in the aggregate amount of EUR 10,793,000 (2009: EUR 10,312,000). The Company forms a fiscal unity for income tax purposes with Refresco International B.V., SDI Onroerend Goed B.V. and SDI International B.V. The company also forms a fiscal unity for VAT purposes with Refresco International B.V. In accordance with the standard conditions, the Company and the subsidiaries that are part of the fiscal unity are jointly and individually liable for taxation payable by the fiscal unity. Some claims have been filed against the Group. Based on legal advice, the Executive Board does not expect that the outcome of these claims will have a material effect on the financial position of the Group. 6.6 Related parties Shareholder structure The Company’s shareholders are Ferskur Holding 1 B.V., 3i Group Plc, 3i Growth 0810 LP, 3i Growth (Europe) 0810 LP, Okil Holding B.V., Godetia II B.V. The ultimate shareholders of Ferskur Holding 1 B.V. are Kaupthing Bank HF, Vifilfell HF and Stodir HF. page _ 102 / 103
Page 1 and 2:
annual 2010 report
Page 3:
annual 2010 report
Page 7 and 8:
Refresco at a glance
Page 9 and 10:
Mission statement To be the Europea
Page 11 and 12:
Buy & Build strategy By buying stro
Page 13 and 14:
Our differentiators Our Total Portf
Page 15 and 16:
18 19 20 Our locations in europe Be
Page 17:
Main achievements • • • •
Page 20 and 21:
hans Roelofs Aart duijzer
Page 22 and 23:
Business review 2010 “A sustainab
Page 24 and 25:
Business review 2010 Review 2010 Lo
Page 26 and 27:
Business review 2010 2010 revenue A
Page 28 and 29:
Business review 2010 People and org
Page 30 and 31:
Business review 2010 Second, furthe
Page 32 and 33:
Business review 2010 Outlook 2011 d
Page 34 and 35:
Business review 2010 Governance Ref
Page 36 and 37:
Business review 2010 Risks related
Page 38 and 39:
Business review 2010 Governance Str
Page 40 and 41:
Business review 2010 Supervisory Bo
Page 42 and 43:
Business review 2010 7.4% to EUR 1,
Page 45 and 46:
Sustainability review 2010
Page 47 and 48:
Raw materials: orange juice Refresc
Page 49 and 50:
Packaging materials Refresco’s ma
Page 51 and 52: PET One of Refresco’s largest sup
Page 53 and 54: Transportation Refresco constantly
Page 55: Refresco Business Units have in rec
Page 59 and 60: Contents Financial statements 60 Co
Page 61 and 62: Consolidated income statement 2010
Page 63 and 64: Consolidated cash flow statement 20
Page 65 and 66: Notes to the consolidated financial
Page 67 and 68: Hedge of a net investment in a fore
Page 69 and 70: present value of the minimum lease
Page 71 and 72: Termination benefits Termination be
Page 73 and 74: • • • • • The definition
Page 75 and 76: In respect of other monetary assets
Page 77 and 78: EUR’000 dEPRECIATION ANd IMPAIRME
Page 79 and 80: 4.2 Intangible assets The compositi
Page 81 and 82: The values assigned to the key assu
Page 83 and 84: EUR’000 Movement in temporary dif
Page 85 and 86: 4.5 Inventories The composition as
Page 87 and 88: Current liabilities The composition
Page 89 and 90: The Group contributes to a number o
Page 91 and 92: Actuarial assumptions Principal act
Page 93 and 94: 5.3 Employee benefits expense The c
Page 95 and 96: Finance income and expense recogniz
Page 97 and 98: The acquisition had the following e
Page 99 and 100: Liquidity risk The contractual matu
Page 101: The following significant exchange
Page 105 and 106: Other related party transactions Th
Page 107 and 108: Company income statement 2010 EUR
Page 109 and 110: Refresco Group B.V. owns the follow
Page 111 and 112: On March, 24 2010 the following sha
Page 115: Independent auditor’s report To:
Page 118 and 119: Contact REFRESCO GROuP B.V. www.ref
show all

measure and monitor the processes and report results ... - Refresco.de

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?