Today, Wavin - Jaarverslag.com

Wavin Annual Report 2010 | page 102(€ x 1,000) REVENUE2010 2009Hot & Cold 272,049 248,904Soil & Waste 159,820 149,752Other Building Systems 49,380 54,053Above Ground 481,249 452,709Foul Water Systems 372,804 348,971Water Management 142,115 132,988Cable Ducting 53,263 54,656Water & Gas 156,223 147,433Below Ground 724,405 684,048Unallocated 25,598 22,869Total revenue 1,231,252 1,159,626The unallocated revenue includes amongst others, the sale of raw materials and services rendered.6. Assets held-for-saleThe assets and liabilities per 31 December classifi ed as held-for-sale can be specifi ed as follows:(€ x 1,000) 2010 2009Property, plant & equipment 314 3,477Inventories – 350Total assets 314 3,827Employee benefi ts – 48Trade and other payables – 11Total liabilities – 59All assets classifi ed as held-for-sale per 31 December 2009 were sold in 2010 at a price above the total book value.The reported assets classifi ed as held-for-sale relate to production equipment which has been dismantled in 2010. It isexpected that this equipment will be sold in 2011 at a sales price above the current book value.7. Acquisitions of subsidiariesAcquisitionsIn October 2010 Wavin and Gebr. Ostendorf – OSMA zpracování plastu combined their sales activities for the Czech marketin a new established company. Wavin has a controlling 65% stake in this subsidiary; OSMA holds 35% of the shares.The contribution in cash by Wavin amounted to € 0.3 million. The acquired intangible assets with value of € 0.1 million wereaccounted for using the purchase method. With this subsidiary we realised additional sales of € 2.3 million and a loss of€ 0.1 million to the consolidated net result.In October 2010 the Group announced that it had entered into an agreement to acquire the PE Water business for belowground applications from KWH Sweden. In January 2011 the assets were actually transferred. As a consequence the resultsand balance sheet of the PE Water business for below ground applications from KWH Sweden were not included in thefi gures per 31 December 2010. As from January 2011 these fi gures will be consolidated (see also note 38).Fair value adjustments according to IFRS 3In 2010 no adjustments to the provisional accounting in 2009 were made.