Annual report - Viscofan

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VISCOFAN 2006 ANNUAL REPORTConsolidated <strong>Annual</strong> AccountsAPPENDIX VDetails of movement in other reserves and retained earnings for the years ended (31 December 2006 and 2005)(In thousands of Euros)Other ReservesReserve for Revaluation Mergerconversion to IFRS reserves reserves TotalBalance at 1 January 2005 (5,826) 8,991 119 3,284Distribution of profit / (application of loss) for the yearReserves - - - -Dividends - - - -Redemption of treasury shares - - - -Application of revaluation reserve - (1) - (1)Other movements - - - -Profit for the year - - - -Balance at 31 December 2005 (5,826) 8,990 119 3,283Distribution of profit / (application of loss) for the yearReserves - - - -Dividends - - - -Redemption of treasury shares - - - -Application of revaluation reserve - (2) - (2)Other movements - - - -Profit for the year - - - -Balance at 31 December 2006 (5,826) 8,988 119 3,281This appendix forms an integral part of note 15 to the consolidated annual accounts, in conjunction with which it should be read.138
Retained earningsLegal Special Voluntary Other consolidation Profit / (loss)reserve reserve reserves reserves for the year Total2,935 25 113,720 40,862 13,800 171,342- - 4,698 5,339 (10,037) -- - - - (3,763) 3,763- - (2,924) - - 2,924- - - - - -- - 100 10 - 110- - - - (19,695) 19,6952,935 25 115,594 46,211 19,695 184,460- - 26,911 (10,948) (15,963) -- - - - (3,732) (3,732)- - - (3,673) - (3,673)- - - - - -- - - (2) - (2)- - - - 31,300 31,3002,935 25 142,505 31,588 31,300 208,353139
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Annual Report 2006
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VISCOFAN ANNUAL REPORT 2006Letter f
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In 2006, our initiatives, results a
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Milestones of Company history1975 1
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Financial highlightsViscofan’s pe
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Board of DirectorsChairmanDirectors
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Corporate strategyThe market in art
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consistent with the value our produ
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497.220052006374.783.657.446.626.7
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CasingsThe casings market showed a
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Performance bygeographical regionRe
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Preserved vegetables (IAN Group)In
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Today, Viscofan has twenty strategi
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Workforce evolution4.2132.9863.4442
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programme of control and monitoring
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applied throughout the production p
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Registro Mercantil de Navarra (Regi
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Directors' payThe articles of assoc
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Share price performance in 20061701
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CellulosePlastic casingsCellulose c
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VISCOFAN 2006 ANNUAL REPORTAnnual c
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B.1.10. Disclose, in aggregate term
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B.1.16. Indicate whether the role o
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If applicable, name the person(s) c
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B.1.31. Disclose any holdings of co
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The Audit Committee was created und
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company and company directors or ex
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With regard to market risk and risk
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Article 22(c) of the Rules and Regu
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1.- There were approved the balance
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E. 11. Indicate if the company is a
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Viscofan’s business andfinancial
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Consolidated income statements for
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Consolidated statements of changes
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3.2. Comparison of informationThe c
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Potential tax benefits from tax los
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Replacements of property, plant and
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4.7. Leases(a) Finance leases:The G
Page 89 and 90: Derivative financial instruments ar
Page 91 and 92: Recoverable amounts are calculated
Page 93 and 94: the accrued expense, an asset is re
Page 95 and 96: Current and deferred tax is recogni
Page 97 and 98: At 31 December 2006 the Group compr
Page 99 and 100: Amounts recognised at the date of a
Page 101 and 102: 8. Other Intangible AssetsDetails o
Page 103 and 104: Details of non-current deferred tax
Page 105 and 106: Spain have open to inspection by th
Page 107 and 108: (b) Merger reservesThese reserves d
Page 109 and 110: At 31 December 2006 and 2005 detail
Page 111 and 112: The Group also contracts exchange r
Page 113 and 114: Pension liabilities comprise define
Page 115 and 116: 19. Trade payables, Other Payables
Page 117 and 118: Canadian Pound Czech PolishUS Dolla
Page 119 and 120: The table below shows interest accr
Page 121 and 122: The average headcount of the Group
Page 123 and 124: Details of remuneration by director
Page 125 and 126: 30. Subsequent EventsOn 30 January
Page 127 and 128: The Viscofan Group ends 2006 with f
Page 129 and 130: Operations with the board of direct
Page 131 and 132: ActivityRegistered officesManufactu
Page 135 and 136: Geographical segments Europe North
Page 137 and 138: Changes inTranslationconsolidated31
Page 139: IncorporacionesTranslationconsolida
Page 143: Viscofan’s business andfinancial
Page 147 and 148: Shareholders’ Equity and Liabilit
Page 149 and 150: Income 2006 2005Operating incomeNet
Page 151 and 152: 4. Significant Accounting Principle
Page 153 and 154: (h) Compensation for termination of
Page 155 and 156: 5. Intangible AssetsDetails and mov
Page 157 and 158: At 31 December 2006 plant and machi
Page 159 and 160: 9. DebtorsDetails at 31 December 20
Page 161 and 162: During 1999 this revaluation was in
Page 163 and 164: The Company has credit and discount
Page 165 and 166: 16. Other CreditorsDetails at 31 De
Page 167 and 168: During the year deductions of Euros
Page 169 and 170: 22. Information Relating to the Dir
Page 171 and 172: The legally required cash flow stat
Page 173 and 174: Furthermore, the installation of ne
Page 177 and 178: Reserves1996Special Merger Voluntar
Page 179 and 180: Sources 2006 2005Funds generated fr
Page 181 and 182: United StatesVISCOFAN USA Inc.50 Co
Page 184: www.viscofan.com
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