The good prospects are based on the all-embracing ... - ALNO AG

<strong>The</strong> reorganization provision includes the payments still
outstanding in conjunction with the employment and quali-
fication company at the Pfullendorf location.
<strong>The</strong> non-current provisions relating to pre-retirement part-
time working arrangements will for the most part be con-
sumed within the next two years. <strong>The</strong> other non-current
personnel provisions and the provision for safe storage will
be consumed within the next ten years.
13. sh<strong>are</strong>holder loaNs
Financial liabilities in the amount of EUR 365 thousand
(previous year: EUR 365 thousand) existed in the financial
year, in the form of loans granted by the sh<strong>are</strong>holders of
ALNO AG.
14. o<strong>The</strong>r fINaNCIal lIaBIlITIes
in '000 EUR
31.12.2011
Total
Remaining term
< 1 year 1 to 5 years > 5 years
Accounts payable
to banks 79,757 69,275 5,271 5,211
Other financial
liabilities 29,807 29,807 0 0
Total 109,564 99,082 5,271 5,211
in '000 EUR
ConsoLidatEd FinanCiaL statEmEnts | notEs to thE ConsoLidatEd statEmEnt oF FinanCiaL position
31.12.2010
Total
Remaining term
< 1 year 1 to 5 years > 5 years
Accounts payable
to banks 80,798 67,741 7,378 5,679
Other financial
liabilities 5,389 5,389 0 0
Total 86,187 73,130 7,378 5,679
In addition to loans which <strong>are</strong> regularly renewed under
blanket agreements with banking institutes, the company
also has other loans with quarterly, half-yearly or yearly
repayment of principal.
Some of the loan agreements specify a variable rate of
interest, others a fixed rate of interest. <strong>The</strong> interest rates
essentially lie between 4.1% p.a. and 7.1% p.a. (previous
year: between 4.3% p.a. and 9.0% p.a.).
<strong>The</strong> accounts payable to banks include foreign currency
loans in the amount of GBP 871 thousand (previous year:
GBP 792 thousand) and CHF 1,320 thousand (previous
year: CHF 1,600 thousand).
<strong>The</strong> waiver of repayment realized by a sh<strong>are</strong>holder in early
January 2012 will relieve the current financial liabilities by
EUR 25,000 thousand in the following year.
<strong>The</strong> other financial liabilities <strong>are</strong> primarily due to Comco
Holding AG, Nidau, Switzerland, taking over further trade
accounts to be paid to Bauknecht Hausgeräte GmbH,
Stuttgart, by the ALNO Group.
Covenants (loan terms) have been agreed for the loan
extended by a subsidiary. <strong>The</strong>se relate to the equity ratio
and upper limit for cost allocations charged by the Group.
As at the balance sheet date, the agreed loan terms were
not met insofar as the equity ratio was concerned. For this
reason, the loan valued at EUR 1,125 thousand as per 31
December 2011 was completely reclassified as a current
financial liability.
<strong>The</strong> accounts payable to banks <strong>are</strong> secured through
charges on property and assignment of the right to release
of free land charge portions, as well as through the transfer
of machinery and equipment by way of security. Accounts
payable to banks <strong>are</strong> additionally secured through assignment
of the trade accounts receivable from customers, as
well as accounts and right receivable from central regulatory
offices, by pledging non-capitalized proprietary rights,
through the transfer of stocks by way of security, and by
pledging the limited partners' sh<strong>are</strong>s in Gustav Wellmann
GmbH & Co. KG, Enger, and the sh<strong>are</strong>s held in Casawell
Service GmbH, Enger, Impuls Küchen GmbH, Brilon, and
Pino Küchen GmbH, Coswig (Anhalt).
As at the balance sheet date, the assets serving as
collateral <strong>are</strong> posted in the consolidated balance sheet
with the following carrying amounts:
in '000 EUR 31.12.2011 31.12.2010
Land and buildings 44,349 45,486
Machinery and technical equipment 6,037 6,002
Inventories 13,630 14,184
Trade accounts receivable 12,798 14,408
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