Annual Report 2010 - Frauenthal Holding AG

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98 Annual Report 2010 Consolidated Financial Statements Frauenthal Holding Group 2010 B. ConSolidation and aCCounting PoliCieS Consolidation principles [1] Scope of consolidation The scope of consolidation was determined in accordance with paragraph 12 IAS 27. There have been two changes in the scope of consolidation since 31 December 2009. Linnemann-Schnetzer Formparts GmbH was formed in Ahlen, Germany in January 2010. CERAM Catalysts GmbH, a sales company, was merged with Linnemann-Schnetzer Deutschland GmbH. The consolidated statements thus comprise the results of the parent, Frauenthal Holding AG, and 26 subsidiaries which are under the common control of Frauenthal Holding AG, and in which the latter or one of its subsidiaries holds a majority of the voting rights. The number of companies included in consolidation was unchanged from the previous year. The number of consolidated subsidiaries changed as follows in the course of 2010: Austria Abroad Total Consolidated at 31 December 2009 8 18 26 Disposals 0 0 0 Formations 0 1 1 Mergers 0 -1 -1 Consolidated at 31 december 2010 8 18 26 Linnemann-Schnetzer Formparts GmbH was formed on 7 January 2010, and was registered in Ahlen, Germany on 26 February 2010. The objects of the company’s business are the processing and working of metals and metallic raw materials, and the production of metallic objects (automotive components). CERAM Catalysts GmbH and Linnemann-Schnetzer Deutschland GmbH were merged with retrospective effect from 1 January 2010, in order to exploit potential synergies. In 2009 the changes in the scope of consolidation were as follows: Austria Abroud Total Consolidated at 31 December 2008 9 18 27 Disposals 0 -2 -2 Formations 0 2 2 Mergers -1 0 -1 Consolidated at 31 december 2009 8 18 26 In response to the collapse in demand in the Automotive Components Division, the Company disposed of its majority interests in Styria Federn GmbH, Düsseldorf and the latter’s subsidiary A.D. Fabrika Opruga Styria Gibnjara Kraljevo, Serbia on 8 May 2009, for a price of EUR 1. The year saw the formation of new subsidiaries of Linnemann-Schnetzer Deutschland GmbH, namely, Linnemann-Schnetzer Ahlen GmbH, registered in Ahlen on 30 September 2009, and Linnemann-Schnetzer Sachsen GmbH, registered in Elterlein on 15 September 2009. Both companies are wholly owned subsidiaries of Linnemann-Schnetzer Deutschland GmbH, and engage in the processing and working of metals and metallic raw materials, and the production of metallic objects (automotive components). In order to exploit potential synergies and generate significant cost savings, Ceram Catalysts GmbH was demerged from the Automotive Components Group and merged with Porzellanfabrik Frauenthal GmbH (Industrial Honeycombs Division) with retrospective effect from 1 January 2009.
The following companies are fully consolidated: Consolidated Financial Statements Frauenthal Holding Group 2010 End of reporting period 31 Dec. Domicile Holding Direct Indirect Porzellanfabrik Frauenthal GmbH Vienna, Austria 100,00% Ceram Enviromental, Inc. Kansas, USA 100,00% Ceram Frauenthal Korea Co. Ltd. Seoul, Korea 100,00% Frauenthal Ost Beteiligungs-GmbH Vienna, Austria 100,00% Frauenthal Handels- und Dienstleistungs-GmbH Vienna, Austria 100,00% SHT Haustechnik AG 1a Installateur-Marketingberatung für Gas-, Sanitär- und Perchtoldsdorf, Austria 100,00% Heizungsinstallateure GmbH Vienna, Austria 100,00% SHT Finance GmbH Luxembourg, Luxembourg 100,00% Frauenthal Liegenschaftsverwaltungsgesellschaft mbH Ahlen, Germany 100,00% Frauenthal Automotive Holding GmbH Vienna, Austria 100,00% Frauenthal Deutschland GmbH Ahlen, Germany 100,00% Pol-Necks Sp.zo.o. torun, Poland 100,00% Frauenthal Automotive Components GmbH Vienna, Austria 86,00% Styria Vzmeti d.o.o. Ravne na Koroskem, Slovenia 86,00% Styria Ressorts Véhicules Industriels S.A.S. Châtenois, France 86,00% Styria Federn GesmbH Judenburg, Austria 86,00% Styria Impormol S.A. Azambuja, Portugal 86,00% Styria Arcuri S.A. Sibiu, Romania 64,67% Linnemann-Schnetzer Verwaltung GmbH Elterlein, Germany 100,00% Linnemann-Schnetzer Deutschland GmbH Elterlein, Germany 100,00% Linnemann-Schnetzer Produktionsgesellschaft mbH Ahlen, Germany 100,00% Linnemann-Schnetzer Formparts GmbH Ahlen, Germany 100,00% Frauenthal Einkaufs GmbH Ahlen, Germany 100,00% Linnemann-Schnetzer Ahlen GmbH Ahlen, Germany 100,00% Linnemann-Schnetzer Sachsen GmbH Elterlein, Germany 100,00% Styria Elesfrance S.A.S St.Avold, France 100,00% The following subsidiary was formed in 2010. Linnemann-Schnetzer Ahlen GmbH holds an interest of 3.42 %, and Frauenthal Automotive Holding GmbH one of 96.58 % in the company. End of reporting period 31 Dec. Domicile Holding Direct Indirect Linnemann-Schnetzer Formparts GmbH Ahlen, Germany 100,00% In August 2010 CERAM Catalysts GmbH was merged with Linnemann-Schnetzer Deutschland GmbH, with retrospective effect from 1 January 2010. End of reporting period 31 Dec. Domicile Holding Direct Indirect Ceram Catalysts GmbH Ahlen, Germany 100,00% 99
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ANNUAL REPORT 2010 Strength through
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CONSOLIDATION AND SOLID EARNINGS PE
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JuMp in earningS at induStrial hone
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taSk Franz Haring, 47, testing and
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Senior leadership team (Slt) The se
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CORPORATE GOVERNANCE Corporate gove
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volume in the automotive Components
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in 2012, and we’re confident that
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produCt SHT now operates six logist
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CorPorate governanCe PoliCy Frauent
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Honeycombs Division). He is also a
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indePendenCe oF the SuPerviSory Boa
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Governance, and monitored by the au
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ut the market still has much ground
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key Share ratioS Investor Relations
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Strength through diverSitY
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in Toruń, Poland, from Necks Inves
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8 1 2 3 4 5 6 7 Linnemann-Schnetzer
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„in the frauenthal group, pioneer
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solid stabilisers, but up to 15kg l
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FaC has developed a new strategy -
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taSk Bernd Eichelberger, 49, Lothar
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SHT Haustechnik AG is Austria’s l
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Page 59 and 60: Shareholder value Operating Review
Page 61 and 62: produCt SHT Haustechnik AG has six
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Page 79 and 80: Note 9,27 16 18 19 16 Consolidated
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Page 83 and 84: Statement of changes in equity tota
Page 85 and 86: ChangeS in Carrying valueS Carrying
Page 87 and 88: ChangeS in Carrying valueS Carrying
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Page 93 and 94: Consolidated Financial Statements F
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Page 121 and 122: [21] Short-term provisions Changes
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Page 139 and 140: Liabilities EUR ’000 non-current
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taSk Kamel Navarro, 31, aligning pa
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income statement Company Financial
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gloSSarY
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p.a. Poa PoC PoFa Pln reg. no. roCe
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Frauenthal Liegenschaftsverwaltung
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impressum Financial calender 2011 1
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Annual Report 2010 - Frauenthal Holding AG

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