PDF (7.3 MB) - GILDEMEISTER Interim Report 3rd Quarter 2012

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200Consolidated Financial Statements of gildemeister Aktiengesellschaft: Notes to the Consolidated Financial Statements37 cash flow statementNotes to the Cash Flow StatementThe statement of cash flows pursuant to ias 7 “Statement of Cash Flows” records thepayment flow in a financial year and represents the inflow and outflow of the company’sliquid funds. The payment flow is distinguished between cash flow from current operationsand cash flow from investment and financing activity.Cash and cash equivalents include, in addition to liquid funds in the narrowestsense, cheques, cash in hand and money on account at banks, as well as current financialinvestments that can be converted to cash amounts at any time and are only subject toimmaterial fluctuations in value. Cash and cash equivalents are measured at amortised cost.The cash flow from current operations was calculated by the indirect methodthrough adjusting the earnings before tax by changes in inventories, trade receivablesand payables, non-cash items and all other items showing cash flows in the investmentor financing areas.The cash flows from investment and financing activities were each calculated interms of actual sums paid. Effects from foreign currency translation and changes in theconsolidated group are adjusted accordingly. Investment transactions for finance leaseagreements that did not lead to a change in the means of payment did not occur in thefinancial year 2010 (previous year: € 0 k).Within the framework of a cash capital increase in an amount of € 9,000 k, 50.001%of the equity interest in Cellstrom GmbH was acquired. No payment was made to anythird party in this connection. Cash funds of € 203 k (not including the amounts paid inwithin the framework of the cash capital increase) were acquired in the purchase of theequity interest. Detailed notes on the assets and liabilities taken over are presented onpage 137. The amount of € 4,338 k is the payment for the purchase of the equity investmentin Younicos ag and an amount of € 5,049 k in mg Finance GmbH as well as anamount of € 1,067 k for dmg / Mori Seiki Australia Pty. Ltd. An amount of € 500 k relatesto sun carrier omega Pvt. Ltd.consolidated financialstatements38 explanatory notesto the segmentsNotes to Segmental <strong>Report</strong>ingWithin the scope of segment reporting, pursuant to the ifrs 8 regulations, the businessactivities of the gildemeister group have been differentiated since financial year 2010into the business segments of “Machine Tools”, “Services”, “Energy Solutions” and“Corporate Services”. Decisive in differentiating between the business segments is theinformation that the so-called “chief decision-maker” is regularly provided with for thepurposes of decision-making on the allocation of resources and the evaluation of profitability.The segment differentiation follows internal management and reporting on thebasis of the different products and services. The key performance indicators for evaluatingprofitability of each business segment are the sales revenues and the ebt.Until 31 December 2009, the business activities now included in the “Energy Solutions”segment were recognised in the “Services” segment. Due to the growing importanceto the gildemeister group of the business activities in the area of Energy Solutions, the
Consolidated Financial Statements of gildemeister Aktiengesellschaft: Notes to the Consolidated Financial Statements 201operating results of “Energy Solutions” were regularly separately reviewed by the maindecision-maker (“Executive Board”) since 1 January 2010 with respect to a decision onthe allocation of resources and thus managed as a separate segment. To facilitate comparison,the notes made in the consolidated financial statements 2009 on the “Services”segment report are divided as to previous year comparison information in the consolidatedfinancial statements 2010 into the new “Energy Solutions” segment report andinto the former “Service” segment report. The figures for financial year 2009 for the“Services” segment have been correspondingly adjusted pursuant to the requirementsof ifrs 8.gildemeister Beteiligungen ag as the holding company for the production plantshas been managed since 1 January 2010 in the “Machine Tools” segment and the operatingresults of gildemeister Beteiligungen ag checked in this segment. The figures for financialyear 2009 of the “Corporate Services” and “Machine Tools” segments have beenadjusted in accordance with the provisions of ifrs 8. A tabular presentation as part of thenotes can be found on page 134 et seq.The “Machine Tools” segment covers the group’s new machines business andconsists of the “turning”, “milling” and “ultrasonic / lasertec” technologies andElectronics. This includes the lathes and turning centres of_ gildemeister Drehmaschinen GmbH, Bielefeld,_ gildemeister Italiana S.p.A., Brembate di Sopra (Bergamo), Italy,_ graziano Tortona S.r.l., Tortona, Italy,_ famot Pleszew Sp. z o.o., Pleszew, Poland,_ dmg ecoline GmbH, Klaus, Austria,_ deckel maho gildemeister (Shanghai) Machine Tools Co., Ltd., Shanghai, China,the milling machines and machining centres of_ deckel maho Pfronten GmbH, Pfronten,_ deckel maho Seebach GmbH, Seebach,_ dmg ecoline GmbH, Klaus, Austria,_ deckel maho gildemeister (Shanghai) Machine Tools Co., Ltd., Shanghai, China,the ultrasonic and laser machines of_ sauer GmbH, Idar-Oberstein / Kemptenand the products of_ dmg Electronics GmbH, Pfronten.All of our machines are classified as cutting machine tools, and all business segmentsare concurrent with each other. In addition, since 1 January 2010, gildemeister Beteiligungenag, as the parent company of all production plants, also belongs to this segment.Additionally, the group’s uniform it is concentrated here.consolidated financialstatements
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annual report 2010www.gildemeister.
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detailedinformationto the groupKey
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cooperation sustains innovationmach
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03124 214Consolidated Financial Sta
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0512145 _ _ _ _ _septemberAt the im
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Report of the Supervisory Board07re
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Report of the Supervisory Board09re
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eport supervisory board /letter fro
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12 The Executive BoardLetter from t
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18Business Environment: Overall Eco
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20Business Environment: Development
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22Business Environment: Development
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295-axis universal machining centre
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61global service cooperationworldwi
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66Business Report forgildemeister A
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68Corporate Situation: Employeesqua
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78Corporate Situation: gildemeister
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80Corporate Situation: gildemeister
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82Corporate Situation: Organisation
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84Corporate Situation: Organisation
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86Corporate Situation: Research and
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88Corporate Situation: Research and
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90Corporate Situation: Purchasing a
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92Corporate Situation: Production,
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94Corporate Situation: Production,
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96Corporate Situation: Corporate Co
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98cooperation sustains innovationco
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100cooperation sustains innovationt
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gildemeister energy solutionsExtens
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104Business Report forgildemeister
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106Business Report forgildemeister
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108Opportunities and Risk Report: O
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110Opportunities and Risk Report: R
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114Forecast Report: Future Business
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122Forecast Report: General stateme
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124Consolidated Financial Statement
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