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

52 sinGLE-Entity and GRoup manaGEmEnt REpoRt | othER disCLosuREs
<strong>The</strong> Board of Management expects a significant improve-
ment in the development of sales and earnings in the new
financial year 2012. <strong>The</strong> ALNO Group's sales <strong>are</strong> expected
to increase in relation to 2011. Business is expected to
improve, particularly in other countries. <strong>The</strong> management also
expects a distinct improvement in EBITDA over the value of
EUR -19.8 million reported for 2011 after adjustment for the
extraordinary income from the waiver of repayment of EUR
25 million. This appraisal is so far confirmed by the quarterly
figures published for Q1/2012. From the point of view of the
Board of Management, 2012 will presumably be dominated
by the following issues: <strong>The</strong> brands' clear positioning is to be
continued consistently. This applies particularly for the brands
ALNO and WELLMANN. At the same time, production is to
become more flexible by creating a common technical platform
for the brands PINO and IMPULS; this has already been
done for ALNO and WELLMANN. Higher sales, especially
abroad, and further improvements in EBITDA <strong>are</strong> expected
for 2013.
For the segments ALNO, IMPULS and PINO, distinctly higher
sales and improved EBITDA <strong>are</strong> expected for 2012 in relation
to the value reported for 2011. Sales by the WELLMANN
segment <strong>are</strong> expected to be slightly lower than in 2011, but
EBITDA is nevertheless expected to improve strongly in 2012.
For 2013, the Board of Management expects higher sales
revenue and a further improvement in EBITDA for each of the
segments ALNO, IMPULS, PINO and WELLMANN.
other disclosures
I. deClaraTIoN oN CorPoraTe GoverNaNCe / rePorT
oN CorPoraTe GoverNaNCe
declaration on Corporate Governance (section 289a of
the German Commercial Code (hGB)) and report on
Corporate Governance
deClaraTIoN PursuaNT To seCTIoN 161 of <strong>The</strong> sToCK
CoMPaNIes aCT (aKTG)
Corporate governance stands for responsible, transp<strong>are</strong>nt
and orderly management and control of companies. <strong>The</strong>
purpose of the German Corporate Governance Code (hereinafter
referred to as "the Code") is to ensure that the rules
accepted in Germany for managing and controlling companies
<strong>are</strong> standardized for national and international investors
and systematically implemented to strengthen confidence
in the management of German companies. Section 161 of
the Stock Companies Act (AktG) obliges listed companies
to decl<strong>are</strong> every year that the company has been, and is,
in compliance with the recommendations or to advise of
any recommendations that have not been, or <strong>are</strong> not being,
applied and the reasons for this.
<strong>The</strong> Code was last reviewed and amended by the
"Government Commission on the German Corporate
Governance Code" in May 2010. This primarily led to
changes concerning membership of the Board of Management
and Supervisory Board. <strong>The</strong> Government Commission
on the German Corporate Governance Code reinforces the
intention to diversify these bodies and to ensure that women
receive due consideration.
<strong>The</strong> Board of Management and Supervisory Board of ALNO
AG explicitly welcome the Code's recommendations and their
objectives. Both Boards have once again devoted their attention
to the Code's recommendations and their objectives
and complied with these recommendations with only a few
exceptions. <strong>The</strong> joint declaration of compliance by the Board
of Management and Supervisory Board is set out below and
is also publicly accessible on the Internet at www.alno.de.