Annual Report 2010 - Frauenthal Holding AG

112 Annual Report 2010
Consolidated Financial Statements Frauenthal Holding Group 2010
[17] Deferred tax
Deferred tax assets in an amount of EUR 20,771,000 (31 Dec. 2009: EUR 18,891,000) and deferred tax liabilities totalling
EUR 2,463,000 (31 Dec. 2009: EUR 816,000) are carried in the consolidated statement of financial position.
In calculating deferred tax, a tax rate of 25 % is applied to the Austrian companies. The composition of deferred tax is as
follows:
EUR ’000
analysis of deferred tax
Changes in statement of financial position items -2,704 -2,134
Development costs -115 -240
Other non-current assets -3,398 -2,733
Other current assets -983 -974
Provisions for termination benefits 2,009 1,959
Provisions for pensions 99 351
Provisions for jubilee benefits 135 282
Other provisions -465 -770
Other liabilities
ufgliederung latente Steuern
14 -9
Capitalised tax loss carryforwards 20,131 19,486
Linnemann-Schnetzer Deutschland GmbH, Elterlein site 8,500 8,500
Frauenthal Holding AG 5,602 3,449
SHT Haustechnik AG 539 2,139
Frauenthal Handels- und Dienstleistungs GmbH 3,853 3,304
Styria Arcuri S.A., Sibiu 440 406
Styria Impormol 175 254
Styria Ressorts 1,022 1,434
Capitalised deferred tax loss carryforwards arising from impairments of investments 881 723
Styria Federn GesmbH, Judenburg 360 480
Frauenthal Holding AG 521 244
deferred tax at 31 dec. 18,308 18,075
Whereof deferred tax assets 20,771 18,891
deferred tax liabilities -2,463 -816
There are three tax groups in the Frauenthal Group. The two Austrian groups use the stand-alone method of determining
tax contributions, while the German group has a profit pooling agreement.
At the end of the reporting period EUR 23,741,000 (31 Dec. 2009: EUR 24,329,000) in tax loss carryforwards were available
to Frauenthal Holding AG. However, deferred tax assets were only recognised for tax loss carryforwards that can be
utilised within a period of five years. In 2010 a total of EUR 5,602,000 (2009: EUR 3,449,000) in deferred tax assets were
recognised in respect of EUR 22,409,000 (2009: EUR 13,794,000) in tax loss carryforwards. The local tax rates are applied
to Styria Arcuri S.A., Sibiu, Styria Impormol S.A., Azambuja, Styria Ressorts Véhicules Industriels S.A.S., Châtenois les Forges
and Linnemann-Schnetzer Deutschland GmbH, Elterlein.
2010
2009