measure and monitor the processes and report results ... - Refresco.de
measure and monitor the processes and report results ... - Refresco.de
measure and monitor the processes and report results ... - Refresco.de
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Financial review 2010<br />
EUR’000<br />
Movement in temporary differences 2010<br />
January<br />
1, 2010<br />
Recognized<br />
in profit or<br />
loss<br />
Recognized<br />
in<br />
equity<br />
Acquired in<br />
business<br />
combinations<br />
Effect of<br />
movement<br />
in exchange<br />
rates<br />
<strong>de</strong>cember<br />
31, 2010<br />
Property, plant <strong>and</strong><br />
equipment<br />
(29,259) 2,752 (750) (2,452) (15) (29,724)<br />
Intangible assets 1,582 (477) 0 200 0 1,305<br />
Inventories 411 168 0 (389) 2 192<br />
Tra<strong>de</strong> <strong>and</strong> o<strong>the</strong>r<br />
receivables<br />
1,107 (2,596) 0 0 (4) (1,493)<br />
Loans <strong>and</strong> borrowings 3,073 (2,056) 0 0 5 1,022<br />
Derivatives 3,861 (802) 0 567 0 3,626<br />
Employee benefits<br />
provision<br />
391 (451) 0 30 0 (30)<br />
O<strong>the</strong>r provisions (787) 784 0 710 (21) 686<br />
Current liabilities (2,499) 813 0 0 15 (1,671)<br />
<strong>de</strong>ferred tax assets<br />
/ (liabilities)<br />
(22,120) (1,865) (750) (1,334) (18) (26,087)<br />
Tax loss<br />
carry-forwards<br />
6,006 5,923 0 0 18 11,947<br />
Net tax assets /<br />
(liabilities)<br />
(16,114) 4,058 (750) (1,334) 0 (14,140)<br />
Tax losses carryforwards<br />
The Group has losses carryforwards for an amount of EUR 12,548,000 (2009: EUR 7,322,000) as<br />
per December 31, 2010, which expire in <strong>the</strong> following years:<br />
EUR’000<br />
2010 2009<br />
2014 323 323<br />
2015 279 279<br />
After 2015 but not Unlimited 1,404 2,846<br />
Unlimited 10,542 3,874<br />
12,548 7,322<br />
Recognized as <strong>de</strong>ferred tax assets (net) 11,948 6,006<br />
Not recognized 600 1,316<br />
The <strong>de</strong>crease in unrecognized losses is related to a changed financing structure in <strong>the</strong> UK <strong>and</strong> improved profitability<br />
in Pol<strong>and</strong> which caused <strong>the</strong> recognition of <strong>de</strong>ferred tax assets which were utilized in 2010.
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