Download annual report 2011 here - Dantherm

INDEX INDEXStatement of changes in equityCash flow statementReservefor foreignDKK '000 Reserve for currencyShare hedging translation Retained Minoritycapital transactions adjustment earnings interests TotalEquity as at 1 January 2010 359,528 -4,034 -9,528 -168,703 -10,331 166,932Changes in equity in 2010Foreign currency translation adjustment, foreign enterprises 0 0 4,579 0 0 4,579Value adjustment of hedging instruments 0 -2,681 0 0 0 -2,681Translation adjustments in connection with divestment 0 0 4,500 0 0 4,500Changes in minority interests 0 0 0 -9,052 9,052 0Tax on value adjustment of hedging instruments 0 -703 0 0 0 -703Net gains recognised directly in equity 0 -3,384 9,079 -9,052 9,052 5,695Net profit/loss for the year 0 0 0 -43,850 0 -43,850Total changes in equity in 2010 0 -3,384 9,079 -52,902 9,052 -38,155Equity as at 31 December 2010 359,528 -7,418 -449 -221,605 -1,279 128,777Equity as at 1 January 2011 359,528 -7,418 -449 -221,605 -1,279 128,777Changes in equity in 2011Capital reduction -287,622 0 0 287,622 0 0Foreign currency translation adjustment, foreign enterprises 0 0 4,092 0 0 4,092Value adjustment of hedging instruments 0 -7,197 0 0 0 -7,197Purchase of minority interests 0 0 0 -400 0 -400Reclassification of minority interests 0 0 0 -1,279 1,279 0Net losses recognised directly in equity -287,622 -7,197 4,092 285,943 1,279 -3,505Net profit/loss for the year 0 0 0 4,278 0 4,278Total changes in equity in 2011 -287,622 -7,197 4,092 290,221 1,279 773Equity as at 31 December 2011 71,906 -14,615 3,643 68,616 0 129,550Statement of comprehensive incomeDKK '000 2011 2010Net profit/loss for the year 4,278 -43,850Other comprehensive incomePurchase of minority interests -400 0Foreign currency translation adjustments arising from the translation of foreign enterprises 4,092 4,579Value adjustment of hedging instruments for the year -7,197 -2,681Translation adjustments in connection with divestment 0 4,500Tax on value adjustment of hedging instruments 0 -703Other comprehensive income after tax -3,505 5,695DKK '000 Note 2011 2010Profit/loss from continuing operations before tax 9,757 -44,533Adjustment for non-cash operating items etc.:Depreciation, amortisation, impairment losses and write-downs 20,859 22,580Other operating items, net -4,393 3,003Net profit/loss in associates 0 30,686Provisions -249 -1,084Financial income -5,154 -1,065Financial expenses 17,925 21,766Cash flow from primary operations before changes in working capital 38,745 31,353Change in inventories -17,698 5,356Change in receivables -1,842 -27,334Change in trade payables etc. 19,118 16,826Cash flow from primary operations 38,323 26,201Interest income received 4,008 1,065Interest expenses paid -17,925 -21,766Cash flow from ordinary operations 24,406 5,500Income tax paid -4,631 -2,324Cash flow from operating activities 19,775 3,176Purchase of intangible assets 12 -6,939 -3,273Purchase of property, plant and equipment 13 -2,499 -933Purchase of financial assets 14 0 -8,000Financial loans 17 -10,120 0Disposal of property, plant and equipment 13 346 5,416Divestment of subsidiaries and activities 28 -645 107,289Cash flow from investing activities -19,857 100,499Loan financing:Lease payments in respect of assets held under finance leases -12,797 -12,287Repayment of long-term payables to credit institutions 0 -56,331Cash flow from financing activities -12,797 -68,618Cash flow from discontinuing activities 28 -1,005 60,350Cash flow for the year -13,884 95,407Cash and cash equivalents, beginning of year -60,549 -157,532Market value adjustment of cash and cash equivalents 871 1,576Cash and cash equivalents, year-end -73,562 -60,549Cash, year-end, comprises:Cash 27 24,648 14,326Short-term bank debt 27 -98,210 -74,875Cash and cash equivalents, year-end -73,562 -60,549Total comprehensive income 773 -38,155Distributed as follows:Shareholders of Dantherm A/S 773 -47,207Minority interests 0 9,052Total comprehensive income 773 -38,15544 Dantherm Annual Report 2011 Annual Report 2011 Dantherm 45