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

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26 sinGLE-Entity and GRoup manaGEmEnt REpoRt | EConomiC REpoRt III. huMaN resourCes Qualified and highly motivated employees (m/f) <strong>are</strong> the key to successful implementation of the ALNO Group's strategy and growth targets. <strong>The</strong> organization of work is <strong>based</strong> on a spirit of openness and mutual respect and fairness. Performance is rewarded through profit-oriented remuneration systems and opportunities for personal development. Based on the tradition of the company, the ALNO Group focuses on new aspects as regards values and particularly corporate culture. Respect, confidence and openness <strong>are</strong> essential to a successful and thriving corporate culture. Our employees (m/f) therefore play a decisive part in the company's development. Moreover, the ALNO Group sees its employees (m/f) as sources of know-how requiring encouragement, but also challenges. Confidence in our employees (m/f) is a matter of fundamental importance, as is open communication and the willingness to assign responsibility to the employees (m/f). In the financial year 2011, the ALNO Group set out to develop a new mission statement actively incorporating our employees (m/f). <strong>The</strong> new vision clearly demonstrates the importance of our employees (m/f), for it is the third pillar on which the success of the ALNO Group is <strong>based</strong>, along with the company's tradition and experience. <strong>The</strong> new mission statement therefore addresses our employees (m/f) in particular. <strong>The</strong> following aspects were developed in the course of four workshops attended by more than 50 people altogether: • Our employees (m/f) contribute to our success. Every single person is important. • <strong>The</strong>y <strong>are</strong> highly qualified, motivated and characterized by a high level of personal initiative. • Specifically targeted further development prep<strong>are</strong>s our employees (m/f) for the future. • <strong>The</strong> skills and performance of our employees (m/f) <strong>are</strong> promoted and challenged by providing an attractive environment. • We give them a perspective and opportunities for development. On the closing date 31 December 2011, the ALNO Group employed 1,845 men and women, as comp<strong>are</strong>d to 1,787 (m/f) in the previous year. Of these, 1,238 (m/f) worked in production (previous year: 1,176 (m/f)), while 116 (m/f) (previous year: 136 (m/f)) were employed in administration. Marketing and sales employed 391 (previous year: 354) men and women and 100 (previous year: 121) worked in the other <strong>are</strong>as. At the end of the financial year, the respective production facilities employed 675 (previous year: 698) in Pfullendorf, 670 (previous year: 583) in Enger, 253 (previous year: 248) in Brilon, 210 (previous year: 206) in Coswig and 37 (previous year: 52) in the foreign subsidiaries. Training Training is a matter of great importance in the company. <strong>The</strong> ALNO Group relies strongly on in-house training in order to build up its own pool of young job starters. In the financial year 2011, the ALNO Group employed 98 trainees (m/f) (previous year: 96). In addition to such classic training vocations in administration and the trades as industrial clerks (m/f) and woodworking mechanics (m/f), the ALNO Group also offers jobs to business administration students at the University of Cooperative Education within the framework of the dual system of vocational training. <strong>The</strong> range of vocational training offered also includes the opportunity to earn a degree in business administration at Academies of Business Administration and Public Management (VWA). <strong>The</strong> practical training includes project work, subjects common to all vocations, guided tours of various factories and team-oriented activities. Iv. MarKeT aNd CoMPeTITIoN economic environment After getting off to a <strong>good</strong> start, economic activity in the rest of 2011 slowed appreciably in all markets of relevance to the ALNO Group. In Germany, gross domestic product (GDP) grew by 3.0% in 2011 (2010: 3.6%), but the rate of growth declined as the year progressed. By the 4th quarter, GDP had even decreased by 0.2%. According to experts, the economy suffered from the European debt crisis. 1 _ 1 Federal Statistical Office, Press Release No. 063 dated 24 February 2012
<strong>The</strong> German economy was supported by rising foreign demand: exports increased by 11.4% over the previous year, with <strong>good</strong>s exceeding EUR 1 trillion in value for the first time ever. 2 At the same time, domestic consumption increased more strongly than at any time in the last five years. 3 In the eurozone (the 27 Member States of the European Union), GDP was 1.6% up on the previous year. 4 Austria and the United Kingdom, two important markets for ALNO, reported growth of 2.9% and 0.7%, respectively; Switzerland grew by 1.7%. <strong>The</strong> Deutsche Institut für Wirtschaftsforschung Berlin (DIW) expects the German economy to grow by 0.6% in 2012. <strong>The</strong> DIW Berlin expects real gross domestic product in the eurozone (EU 27) to decline slightly, while global GDP is expected to increase by almost 4%. 5 In the kitchen industry, job market developments and investment activity in housing construction <strong>are</strong> important indicators of consumption and investment by consumers. Unemployment continued to fall in 2011, averaging 7.1% for the year (2010: 7.7%) 6 This is also one of the main reasons underlying the 1.5% rise in private consumption after adjustment for prices. 7 Because the furniture market is a so-called "postponable" market, it is particularly affected by private consumer spending. Depending on their personal financial situation, consumers will either go ahead with or put off the acquisition of such consumer <strong>good</strong>s. Key interest rates remained at a historically low level in 2011. In response to the euro crisis, the ECB lowered its key lending rate to the former value of 1.0% in spring 2011 after previously raising the rate on two occasions. According to the German Council of Economic Experts, low interest rates were one of the main reasons underlying the 6.5% rise in investments on housing construction in 2011. _ 2 Federal Statistical Office, Press Release No. 044 dated 8 February 2012 3 Federal Statistical Office, Press Release No. 010 dated 11 January 2012 4 Eurostat, Press Release dated 15 February 2012 5 Deutsches Institut für Wirtschaftsforschung (DIW), Berlin, Press Release dated 4 January 2012 6 Federal Employment Agency, labour market statistics for 2011 and 2010 7 Federal Statistical Office, Press Release No. 010 dated 11 January 2012 8 German Council of Economic Experts, Annual Economic Report 2011/12 sinGLE-Entity and GRoup manaGEmEnt REpoRt | EConomiC REpoRt <strong>The</strong> Council expects growth of 2.9% in 2012. 8 Munich's Ifo-Institut expects the number of housing units completed to rise in the next few years, due above all to the need for replacements in several parts of Germany. <strong>The</strong> institute has <strong>based</strong> its construction forecast on an average rise of almost 1% p.a. in the period up to 2020. 9 Despite an inflation rate of 2.3% (2010: 1.1%) 10 overall purchasing power also increased in Germany in 2011. Real income rose by 1.1% over the year (2010: 1.5%) 11 With basic conditions developing favourably, furniture production in Germany grew by 6.3% in 2011; in terms of value, 4.5% more kitchen furniture was produced than in 2010. 12 According to a study on purchasing power by "GfK Geo- Marketing", purchasing power in Germany is expected to increase only slightly in 2012. <strong>The</strong> average German consumer will be nominally able to spend EUR 413 more than in 2011, according to the study; that is equivalent to a nominal rise of 2%. At the same time, however, the GfK also points out that the German Bundesbank expects inflation to average 1.8% in 2012. Real purchasing power will consequently increase by only 0.2%. Total purchasing power in Germany is estimated by the GfK to be in the order of EUR 1,636.2 billion in 2012. 13 furniture trade In 2011, the furniture trade was able to continue the previous year's positive trend, with growth averaging between 2.5% and 3% so that sales once again topped the 30-billion-euro mark for the first time in several years. <strong>The</strong> Federal Association of the German Furniture, Kitchen and Furnishing Trade (BVDM) has estimated that German consumers spent EUR 30.4 billion (including VAT) on furniture, kitchens and furnishings in the year just ended. _ 9 Ifo Institut, Construction forecast until 2020 10 Federal Statistical Office, Press Release No. 011 dated 12 January 2012 11 Federal Statistical Office, Press Release No. 107 dated 26 March 2012 12 Federal Statistical Office, Press Release No. 019 dated 16 January 2012 13 GfK GeoMarketing, Press Release dated 13 December 2011 27
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ALNO Aktiengesellschaft 88630 Pfull
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