Annual Report Samas NV 2008 2009 Annual ... - Alle jaarverslagen

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Samas FranceOn 30 September 2008, Samas NV reached agreement with local management on a managementbuy out (MBO) of its French operations. The transaction has considerably improvedSamas’ financial position. Furthermore, the transaction was in line with Samas’ objective laidout in the previous year to simplify its business model and focus on those regions in Europewhich offer Samas the best earnings recovery potential.The French operations represented at that time approximately a quarter of group sales andincluded the brands Roneo and Sansen. The transaction related to 90% of the shares andinvolved the transfer of all assets, external debt and other liabilities of the French business.The loss on sale after tax of € 3.7 million has been recorded in 2008/2009.Balance from disposed French operations at 30 September 2008(in thousands of euros)S a m a s2 0 0 82 0 0 956AssetsProper ty, plant & equipment 7,962Intangible assets 656Long term receivables 3,114Non-current assets 11,732Inventories 7,371Trade and other receivables 29,214Cash and cash equivalents 2,350Current assets 38,935Total assets 50,667Equity and liabilitiesTotal equity 2,236Long-term borrowings 17,891Other non-current liabilities 6,986Pension provision 2,206Provisions for other liabilities 667Non-current liabilities 27,750Trade payables 10,719Taxes and social security premiums 4,327Other current liabilities 5,635Current liabilities 20,681Total equity and liabilities 50,667
Profit for the year from disposed French operationsThe results of the discontinued operations in the year ended 31 March 2009 are set outbelow.(in thousands of euros)1 April –30 Sept 2008 2007/2008Revenue 49,825 99,620Cost of raw andauxiliar y materials 20,828 40,825Gross profit 28,997 58,795Operating costs 29,785 61,849Operating profit -788 -3,054Net finance costs -843 -2,545Result before income ta x -1,631 -5,599Income tax 0 0Result for the year -1,631 -5,599S a m a s2 0 0 82 0 0 9Cash flows for the year from disposed French operations(in thousands of euros)571 April –30 Sept 2008Net cash flow from operating activities -302Net cash flow from investing activities -440Net cash flow from financing activities 3,0832,341Ef fect deconsolidation -2,350Movement in cash and cash equivalents -9Cash and cash equivalents at 1 April 2008 9Movements in cash and cash equivalents -9Cash and cash equivalentsat 31 March 2009 0
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ContentsForeword 5Information for s
Page 4 and 5:
S a m a sS a m ga rso e p2 0 0 280
Page 6 and 7: S a m a s2 0 0 82 0 0 96household.
Page 8: Key figures per share 2008/2009 200
Page 11 and 12: Alongside the above-mentioned struc
Page 13 and 14: Report by the Executive BoardMarket
Page 15 and 16: Result from continued operationsThe
Page 17 and 18: Liabilities, net debt and financing
Page 19 and 20: To gain market share, SITAG aims to
Page 21 and 22: In Germany, Samas has a single comb
Page 23 and 24: management, where continuing attent
Page 25 and 26: Report by the Supervisor y BoardTo
Page 27 and 28: the Chief Executive Officer and the
Page 30 and 31: S a m a s2 0 0 82 0 0 9dation does
Page 32 and 33: Corporate of ficersS a m a s2 0 0 8
Page 34 and 35: S a m a s2 0 0 82 0 0 934
Page 36 and 37: 1 Consolidated balance sheet(in tho
Page 38 and 39: 2 Consolidated income statement(in
Page 40 and 41: 4 Consolidated cash flow statements
Page 42 and 43: 6.1 Basis of preparation: Financing
Page 44 and 45: Eastern Europe: *Samas Polska sp. z
Page 46 and 47: LandBuildingsPlant and machiner yOf
Page 48 and 49: and the current fair value, less an
Page 50: 6.16 Trade payablesTrade payables a
Page 53 and 54: monitored. Sales to retail customer
Page 55: 9 Assets held for sale and disconti
Page 59 and 60: Profit for the year from disposed S
Page 61 and 62: Profit for the year from disposed B
Page 63 and 64: Profit for the year from disposed G
Page 65 and 66: 11 Property, plant and equipmentMac
Page 67 and 68: 13 AssociatesInvestment in associat
Page 69 and 70: Temporar yDif ferences Other TotalD
Page 71 and 72: Legal reservesThe legal reserve rel
Page 73 and 74: 21 Pension and restructuring provis
Page 75 and 76: 25 Depreciation and amortisation200
Page 77 and 78: 30 Long-term commitmentsLong-term c
Page 79 and 80: 34 Remuneration of Executive Board
Page 81 and 82: Share option Fair value per Total f
Page 83 and 84: 36 Company balance sheet as at 31 M
Page 85 and 86: 37 Company income statement for the
Page 87 and 88: 40 Non-current assetsMovements in n
Page 89 and 90: Other information44 Remuneration of
Page 91 and 92: 47 Independent auditor’s report t
Page 93 and 94: S a m a s2 0 0 82 0 0 993
Page 95 and 96: Ten yearSamas-Groepin figures(in mi
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Annual Report Samas NV 2008 2009 Annual ... - Alle jaarverslagen

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