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

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17 Trade and other receivables2008 /2009 2007/2008Trade debtors 192 63,531Prepaid expenses 714 3,757Other receivables 194 3,666Total 1,100 70,954The book value of these receivables is equal to their fair value. The provision forimpairment amounts to €0 (previous year: €3,974).Trade debtors amounting to €28,300 are part of the assets held for sale on31 March 2009.The ageing analysis of the trade debtors is as follows:S a m a s2 0 0 82 0 0 9702008 /2009 2007/2008Trade debtors not past due 63 47,679Trade debtors past dueUp to 1 month 8 10,4711 to 2 month 119 3,9222 to 3 month 0 350Over 3 month 2 5,083Total trade debtors past due 129 19,826Total trade debtors 192 67,50518 Cash and cash equivalents2008 /2009 2007/2008Cash at bank and in hand 0 1,642Total 0 1,642The cash and cash equivalents amounting to €3,324 as per 31 March 2009 have beentransferred to discontinued operations. The bank overdraft at the continued operationsamounting to €681. Has been added as other current borrowing. See note 20.19 EquityIssued share capitalThe authorised capital amounts to €90 million, made up of 45 million ordinary sharesand 45 million preference shares, each with a nominal value of € 1.The paid-up capital comprises 34,236,341 ordinary shares (previous year: 34,236,341).
Legal reservesThe legal reserve relates to patents and product- and development cost. This reserve is nondistributableand amounts to €0 as a result of the impairments (previous year: € 4,960).The changes in equity are specified in note 3.20 Borrowings2008 /2009 2007/2008Non-current borrowingsDrawings under Factoring Arrangement 0 15,047Syndicated revolving credit facility 0 27,650Other non-current borrowings 0 490 42,746Current borrowingsDrawings on syndicated credit facility 7,000 6,750Other current borrowings 681 0Subtotal 7,681 49,496Current borrowings discontinued operationsDrawings on syndicated credit facility 26,900 0Other current borrowings 195 0Subtotal 27,095 0S a m a s2 0 0 82 0 0 971Total borrowings 34,776 49,496Repayment obligations due within 12 months are included under current liabilities.The borrowings consist of loans from credit institutions bearing an average rate of interestof 7.25% (previous year 6.9%). All loans are denominated in euros. Besides this, the bankoverdraft of €681 is added as other current borrowing.In the course of the financial year 2008/2009, the committed Revolving Credit Facility (RCF)has been reduced to an amount of €39.9 million, of which €33.9 million has been drawn forborrowings as per year end. From the amount of €33.9 million, an amount of €26.9 million ispushed down to the discontinued operations.Compared to the situation as per the beginning of the financial year (€47.5 million),the RCF has been adjusted as follows:- A reduction of € 1.1 million in April/June 2008 from the proceeds of sale of real estateGermany;- A reduction of € 6.0 million in February 2009 from the the proceeds of sale and lease back ofreal estate Tilburg.
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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 and 56: 9 Assets held for sale and disconti
Page 57 and 58: Profit for the year from disposed F
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: Temporar yDif ferences Other TotalD
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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