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

7. reorganization income (expense)
ConsoLidatEd FinanCiaL statEmEnts | notEs to thE ConsoLidatEd inComE statEmEnt
Due to the unsatisfactory earnings situation of the ALNO
Group, reorganization of the German companies com-
menced in 2007, followed by the foreign subsidiaries in
late 2008. A comprehensive reorganization concept was
approved by the Supervisory Board of ALNO AG on 15
January 2010. <strong>The</strong> primary aim of this concept is to sus-
tainably improve the Group's earnings and competitive-
ness. <strong>The</strong> associated all-embracing structural changes
focus above all on introducing efficient administrative
processes and manufacturing structures throughout the
Group.
In 2011, reorganization yielded a profit of EUR 24,338
thousand (previous year: loss of EUR -8,962 thousand).
Other operating expenses in the amount of EUR 2,730
thousand (previous year: EUR 4,594 thousand) comprise
consulting expenses. In the previous year, this item also
included an allocation to the provision for the employment
and qualification company at the Pfullendorf location.
Personnel expenses in the amount of EUR 9 thousand
(previous year: EUR 4,638 thousand) comprise employee
termination payments. Other operating income in the
amount of EUR 27,077 thousand (previous year: EUR 270
thousand) include EUR 25,000 thousand from derecognition
of trade accounts payable following a waiver of
repayment. In addition, it also includes income from the
reversal of provisions which <strong>are</strong> no longer needed for the
employment and qualification company at the Pfullendorf
location.
in '000 EUR 2011 Reorganization
2011 acc.
to income
statement
Other operating
income 33,347 – 27,077 6,270
Personnel expenses 98,536 – 9 98,529
Other operating
expenses 69,899 – 2,370 94,169
in '000 EUR 2010 Reorganization
2010 acc.
to income
statement
Other operating
income 7,332 – 270 7,062
Personnel expenses 102,538 – 4,638 97,900
Other operating
expenses 97,205 – 4,594 92,611
8. Write-downs on intangible assets, property,
plant and equipment
<strong>The</strong>se write-downs result from the development of fixed
assets.
in '000 EUR 2011 2010
Intangible assets 967 955
Property, plant and equipment 10,632 8,824
Amortization and depreciation 11,599 9,779
Impairment losses 4,303 2,325
Total 15,902 12,104
All in all, the following asset groups <strong>are</strong> affected by impairment
losses:
in '000 EUR 2011 2010
Intangible assets 76 9
Land and buildings 8 0
Technical equipment and machinery 265 0
Factory and office equipment 3,954 2,316
Total 4,303 2,325
With regard to the assets of the cash generating unit ALNO
AG (including leasing companies), the fair value minus
costs to sell was applied to the additions in 2011, as new
targets were not available during the year and the negative
value in use as at 31 December 2010 consequently
remained valid (see B.4. "Impairment test for <strong>good</strong>will").
This resulted in impairment losses and write-downs on
property, plant and equipment in the amount of EUR
3,399 thousand (previous year: EUR 2,293 thousand).
<strong>The</strong> impairment test performed as at 31 December 2011
on the basis of the new targets did not yield any further
impairment of the remaining <strong>good</strong>will of the CASAWELL
Group (previous year: EUR 0 thousand). For the cash
generating unit ALNO AG, further impairment losses were
recognized on the other intangible assets in the amount of
EUR 76 thousand (previous year: EUR 0 thousand) and on
property, plant and equipment in the amount of EUR 820
thousand (previous year: EUR 0 thousand).
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