Annual Report 2010 - Frauenthal Holding AG

[21] Short-term provisions
Changes in the short-term provisions in 2010 were as follows:
EUR ’000
1 Jan. 2010 Change
Movements in “Other provisions” were as follows:
Consolidated Financial Statements Frauenthal Holding Group 2010
Allocations Utilisation Reversals Exchange diff. 31 dec. 2010
Tax provisions 171 0 461 -104 0 0 528
Other provisions 916 0 1,543 -360 -189 6 1,916
Short-term provisions 1,087 0 2,004 -464 -189 6 2,444
Impending losses 514 0 0 -199 0 0 315
Waste disposal costs 166 0 0 -100 -66 0 0
Provision for damages 93 0 200 0 -78 0 215
Other employee benefi t provisions 56 0 64 -61 0 6 65
Closure and restructuring 45 0 1,245 0 -45 0 1,245
Legal and consultancy costs 42 0 34 0 0 0 76
Other provisions 0 0 0 0 0 0
Other short-term provisions 916 0 1,543 -360 -189 6 1,916
The provisions for contingent losses recognised during the reporting period related to anticipated losses on products sold
where fixed prices agreed with customers exceeded the manufacturing costs. The “Closure and restructuring” item relates
to Linnemann-Schnetzer Ahlen GmbH, Germany, for which restructuring provisions were recognised. These provisions were
made on the basis of a discounted cash flow calculation, applying a discount rate of 5 % to the future cash inflows and
outflows.
The “Other short-term provisions” are recognised for all other identifiable risks arising from past events resulting in present
obligations (legal or constructive) where it is probable that an outflow of resources embodying economic benefits will be
required to settle the obligations and a reliable estimate of the amount can be made.
[22] Liabilities
An analysis of liabilities as at the end of the reporting period by maturities and collaterals is shown below.
Liabilities at 31 Dec. 2010 in EUR ’000
EUR ’000
1 Jan. 2010 Change
Allocations Utilisation Reversals Exchange diff. 31 dec. 2010
Maturity
Total amount Up to 1 year 1–5 years Over 5 years Collateralised
Bond 71,375 1,375 70,000 0
Bank borrowings (including leasing) 26,412 14,043 12,093 277 612
Prepayments received 5,547 3,591 1,956 0
Trade payables 46,184 46,184 0 0
Liabilities to Group companies 68 68 0 0
Note payable 0 0 0 0
Other liabilities 26,080 24,327 1,753 0
Von total den liabilities langfristigen Krediten waren zum Bilanzstichtag TEUR 3.303 175,665 (31.Dezember2009: 89,586 TEUR 85,802 5.457) durch 277 Vermögen 612 The
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