4 - Refresco.de

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Highlights Refresco is a leading European manufacturer of soft drinks and juices
2009 Our strategic achievements Strong autonomous growth in Iberia, UK and Nordics. A continued rationalization process in Germany. Reinforced focus on operational excellence: a cost-reduction program started in 2008 paid off in 2009. The acquisition of Schiffers Foods in the Netherlands in April 2009 strengthens our position in the Benelux market. Closure of a cooperation agreement with Leche Pascual in April 2009 leads to expansion of the juice business in Spain. Increased focus on our supply chain to safeguard the quality of our products. Our efforts rewarded Revenue EBITDA EUR’000 1,400,000 EUR’000 557,626 2004 606,001 2005 660,139 2006 951,613 1,146,082 2007 2008 1,139,574 2009 1,300,000 1,200,000 1,100,000 1,000,000 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 Revenue 2009 .......................................... EUR 1.14 billion Volume in liters ........................................ 3.4 billion (+8% vs 2008) Profit ......................................................... EUR 7.7 million EBITDA ...................................................... EUR 119.6 million EBITDA ratio ............................................. 10.5% Net cash from operating activities ........... EUR 94.9 million Return on capital employed ..................... 19.8% 62,230 2004 64,112 Note: Figures for 2008 have been restated to comply with IFRS. 2004-2007 are reported under Dutch GAAP. 2005 63,889 2006 77,451 109,793 2007 2008 119,590 2009 140,000 130,000 120,000 110,000 100,000 90,000 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 page _ 6 / 7
Page 1 and 2: 2009 annual report
Page 3 and 4: 2009 annual report
Page 5: Contents Highlights 2009 6 Refresco
Page 9 and 10: Refresco at a glance
Page 11 and 12: Our locations in europe 1 The Nethe
Page 13 and 14: 606,001 Acquisition of Refresco by
Page 15 and 16: ecome Europe’s No. 1 manufacturer
Page 17 and 18: Strategic development Since its fou
Page 19 and 20: To expand our juice business in Spa
Page 21 and 22: 2009 revenue A focused, well-balanc
Page 23 and 24: Risks related to price fluctuations
Page 25 and 26: page _ 24 / 25
Page 27 and 28: Supervisory Board The Supervisory B
Page 29 and 30: Composition of the Supervisory Boar
Page 31 and 32: to the British Retail Consortium (B
Page 33 and 34: “In 2009 Refresco business units
Page 35 and 36: “We have a continuous search for
Page 37 and 38: in liters increased by 8% to 3.4 bi
Page 39 and 40: high quality and on an ambitious gr
Page 41 and 42: of its customers, no matter what co
Page 43 and 44: 160.000 140.000 120.000 100.000 80.
Page 45 and 46: These trends create constant demand
Page 47 and 48: The surrounding countries, Germany
Page 49 and 50: for retailers developing private la
Page 51 and 52: A-brands and private label to keep
Page 53 and 54: manufacturers taking up product dev
Page 55 and 56: is in driving ‘values’ as well
Page 57 and 58:
How do you see the future for priva
Page 59:
enabling consumers to acquire quali
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financial review 2009 Business is n
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Financial review 2009 Consolidated
Page 66 and 67:
Page 68 and 69:
Page 70 and 71:
Financial review 2009 Transactions
Page 72 and 73:
Financial review 2009 2.6 Intangibl
Page 74 and 75:
Financial review 2009 to the Group,
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Financial review 2009 if there is a
Page 78 and 79:
Financial review 2009 concentration
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Financial review 2009 EUR’000 DEP
Page 82 and 83:
Financial review 2009 4.2 Intangibl
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Financial review 2009 4.3 Other inv
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Financial review 2009 Tax losses ca
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Financial review 2009 Non-current l
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Financial review 2009 4.11 Employee
Page 92 and 93:
Financial review 2009 Expenses reco
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Financial review 2009 5 Notes to th
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Financial review 2009 5.6 Finance i
Page 98 and 99:
Financial review 2009 The major ite
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Financial review 2009 Ageing and im
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Financial review 2009 Foreign curre
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Financial review 2009 EUR’000 Dec
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Financial review 2009 6.5 Contingen
Page 108 and 109:
Financial review 2009 EUR’000 Rec
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Financial review 2009 EUR’000 Rec
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Financial review 2009 Company balan
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Financial review 2009 Notes to the
Page 116 and 117:
Financial review 2009 3.2 Sharehold
Page 118:
Financial review 2009 Other informa
Page 123 and 124:
Ten years Refresco EUR ‘000 INCOM
Page 125:
Colophon This Annual Report is a pu
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