24 SINGLE-ENTITY AND GROUP MANAGEMENT REPORT | Economic <strong>report</strong>SINGLE-ENTITY ANDGROUP MANAGEMENT REPORTof <strong>ALNO</strong> Aktiengesellschaft, Pfullendorf,for the financial year <strong>2011</strong>Economic <strong>report</strong>I. Group structure and businessThe <strong>ALNO</strong> Group develops, builds and sells kitchen furnitureand accessories for the German market and for exportworldwide. The parent company <strong>ALNO</strong> AG, Pfullendorf,acts as holding company with central administration functionsand operates the production facility in Pfullendorf, aswell as the sales division. The <strong>ALNO</strong> Group comprises 16active individual companies altogether. In July <strong>2011</strong>, thecompany's headquarters moved from Düsseldorf to theformer location in Pfullendorf (Baden-Württemberg).Since the <strong>ALNO</strong> Group unites four different brands undera single umbrella, the Group can cover all price segmentsfrom the entry level to the premium level. With its brands<strong>ALNO</strong>, Wellmann, Impuls and Pino, the Group is oneof the biggest manufacturers of kitchen furniture worldwide.The <strong>ALNO</strong> Group is currently the second largest manufacturerin Germany and ranks fifth in Europe.Each of the four German production facilities has its ownproduct portfolio. Kitchens for the <strong>ALNO</strong> brand are developedand built in Pfullendorf, while the plant in Enger,North Rhine-Westphalia, produces the Wellmann range.The Impuls and Pino brands are produced in Brilon(North Rhine-Westphalia) and Coswig (Sachsen-Anhalt),respectively.Germany and Western Europe are the most importantsales markets for the <strong>ALNO</strong> Group. However, the companyalso has more than 6,000 trade partners in 64 countrieswho are served through a centrally managed export salesdepartment. In the United Kingdom and Switzerland,the <strong>ALNO</strong> Group has own marketing companies whichare combined under the subsidiary <strong>ALNO</strong> InternationalGmbH with head office in Pfullendorf. The <strong>ALNO</strong> Group isbecoming more important in Asia, the United States andthe United Arab Emirates. After the end of the period underreview, <strong>ALNO</strong> AG founded its own US marketing companybased in New York.In spring <strong>2011</strong>, it was decided to close the foreign subsidiary<strong>ALNO</strong> France S.A.R.L. in Cagnes-sur-Mer, France. InNovember <strong>2011</strong>, EuroSet Küchentechnik GmbH with itsbase in Enger was renamed <strong>ALNO</strong> Trading GmbH, alsobased in Enger. The company trades in and sells householdappliances, fitted appliances, accessories and merchandise,but no kitchen furniture.The Dubai location specializes on project business in theGulf region, for which it builds and sells kitchen furniture toregional specifications. 50% of the shares in the regionalcompany <strong>ALNO</strong> Middle East FZCO, Dubai, United ArabEmirates, are held by <strong>ALNO</strong> AG, and the other 50% by AlKhayyat Investments LLC, Dubai, United Arab emirates.II. Group managementThe Group's business activities are measured on the basisof sales and value metrics. Within the year, the individualGroup entities are managed on a monthly basis, but alsoon a weekly and daily basis, through continual varianceanalyses to determine any divergence from budgeted figuresand previous year's values in all key operational areas.In addition to ratios measuring the efficiency of sales, production,quality and specific functions, the most importantindividual indicators used at the segment level includecontribution accounting, unit performance accounting andsales figures expressed in numbers of cabinet units. Costcentres and cost categories are monitored and analysedseparately at a higher level of aggregation. The quality ofthe product range and business processes is monitoredand assured by quality management based on DIN EN ISO9001. All production companies in the <strong>ALNO</strong> Group arecertified companies subject to continuous external auditingby various institutes.
SINGLE-ENTITY AND GROUP MANAGEMENT REPORT | Structure of the <strong>ALNO</strong> Group25Structure of the <strong>ALNO</strong> Groupas at 31 December <strong>2011</strong>Alno AGZweitmarkenholdingImpuls Pino GmbH Pfullendorf100 %50 %<strong>ALNO</strong> Middle East FZCODubai (UAE)94 %Impuls Küchen GmbHBrilon6 %100 %<strong>ALNO</strong> USA Kitchen Cabinets Inc.New Castle/Delaware (USA) (inactive)94 %Pino Küchen GmbHCoswig (Anhalt)6 %100 %<strong>ALNO</strong> International GmbHPfullendorfCasawell Service GmbHEnger100 %<strong>ALNO</strong> France S.A.R.L.Cagnes-sur-Mer (F) (in liquidation)100 %0.07 %Gustav Wellmann GmbH & Co. KGEnger99.93 %<strong>ALNO</strong> (Schweiz) AGEmbrach (CH)100 %94.74 %GVG tielsa Küchen GmbH & Co. KGEnger5.26 %<strong>ALNO</strong> UK Ltd.Dewsbury (GB)100 %100 %<strong>ALNO</strong> Trading GmbHEngerWellmann-Polska sp.z.o.o. (PL)(in liquidation)100 %100 %Wellmann Bauteile GmbHEngerTIGNARIS Bet.gesellschaft mbH& Co. Objekt Pfullendorf KGGrünwald100 %MINERVA Grundstücks-VermietungsgesellschaftmbH & Co.Objekt Pfullendorf OHG Grünwald100 %
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