ANNUAL REPORT 2007 | 2008 - Gimv

More documents

Recommendations

Info

8. SUBSIDIARIES Information on subsidiaries (31/03/08) Name of the subsidiary City, country Company number 118 | Gimv Annual Report 2007-2008 | Statutory consolidation % voting right Change to previous year Reason why > 50% does not lead to consolidation 1. Limited consolidation Accessories International Menen, Belgium 0475.344.639 50.00% 0.00% Materiality Acertys Aartselaar, Belgium 0413.534.556 50.10% 50.10% Materiality Advies- en beheer Mij Fincon BV Den Haag, The Netherlands 100.00% 0.00% Adviesbeheer Gimv CI Antwerpen, Belgium 0476.170.723 33.61% -25.52% Adviesbeheer Gimv CI 2004 Antwerpen, Belgium 0863.249.322 97.74% -0.31% Adviesbeheer Gimv CI 2007 Antwerpen, Belgium 0887.141.115 99.23% -0.77% Adviesbeheer Gimv DS Antwerpen, Belgium 0476.173.790 26.47% -26.16% Adviesbeheer Gimv DS 2004 Antwerpen, Belgium 0863.250.114 90.97% -1.24% Adviesbeheer Gimv DS 2007 Antwerpen, Belgium 0887.077.371 97.26% -2.74% Adviesbeheer Gimv ICT Antwerpen, Belgium 0476.172.307 34.77% -24.63% Adviesbeheer Gimv ICT 2004 Antwerpen, Belgium 0863.241.107 90.43% -0.31% Adviesbeheer Gimv ICT 2007 Antwerpen, Belgium 0887.142.303 99.23% -0.77% Adviesbeheer Gimv LS Antwerpen, Belgium 0476.170.921 53.97% -6.52% Adviesbeheer Gimv LS 2004 Antwerpen, Belgium 0863.241.897 97.74% -0.31% Adviesbeheer Gimv LS 2007 Antwerpen, Belgium 0887.140.224 99.23% -0.77% Adviesbeheer Gimv CI Projects 2007 Antwerpen, Belgium 0887.141.115 79.62% 79.62% Adviesbeheer Gimv CT 2007 Antwerpen, Belgium 0893.833.224 79.62% 79.62% Eagle Venture Partners BV Vlaardingen, The Netherlands 68.50% 0.00% Materiality Eagle Venture Partners Limited Guernsey, GB 73.30% 0.00% Materiality Finimmo Antwerpen, Belgium 0436.044.197 50.00% 0.00% Fiduciary control Fortress Warehousing Tilbury, GB 53.84% 53.84% Materiality Gimfi n NV Antwerpen, Belgium 0422.112.920 100.00% 0.00% Gimo-Hold Noorderlaan Antwerpen, Belgium 0449.794.740 100.00% 0.00% Materiality Gimv Arkiv Antwerpen, Belgium 0878.764.174 50.17% 0.00% Gimv Coordination Center NV Antwerpen, Belgium 0438.266.190 100.00% 0.00% Gimv Czech Ventures BV Vlaardingen, The Netherlands 73.17% 0.00% Materiality Gimv Frankrijk Paris, France 100.00% 100.00% Halder Bet. Beratung GmbH Frankfurt, Germany 99.00% 0.00% Halder Holdings BV Den Haag, The Netherlands 100.00% 0.00% Halder Invest BV Den Haag, The Netherlands 100.00% 0.00% Halder Investments IV BV Den Haag, The Netherlands 100.00% 0.00% Halder Management BV Den Haag, The Netherlands 100.00% 0.00% Halder V BV Den Haag, The Netherlands 100.00% 0.00% Halder-GIMV Germany Management BV Den Haag, The Netherlands 100.00% 0.00% Halder-GIMV Investeringen 2004 BV Den Haag, The Netherlands 89.00% 0.00% Halder-GIMV Investeringen 2007 BV Den Haag, The Netherlands 100.00% 100.00% Impression International Antwerpen, Belgium 0895.599.119 85.00% 0.00% Materiality Inframan Brussel, Belgium 0891.786.920 50.00% 50.00% Fiduciary control L'Enfant Terrible Antwerpen, Belgium 0473.475.707 100.00% 0.00% Materiality L&C St.Denijs Westrem, Belgium 0463.196.279 62.20% -1.15% Materiality OBP Adjunct II Boston, USA 99.00% 0.00% Materiality OBP Adjunct III Boston, USA 99.00% 0.00% Materiality Participatie Mij Damrak BV Den Haag, The Netherlands 100.00% 0.00% Prolyte Investments BV* Leek, The Netherlands 51.25% 51.25% Materiality Rollinvest Kontich, Belgium 0422.578.520 90.00% 90.00% Materiality Ronin Antwerpen, Belgium 0865.712.231 62.75% 0.00% Materiality Sfi nc Brakel, Belgium 0870.576.384 50.00% 0.00% Fiduciary control VIM NV Antwerpen, Belgium 0421.600.008 100.00% 0.00% Westerlund Group Kallo, Belgium 0423.177.544 53.70% 53.70% Materiality
8. SUBSIDIARIES - CONTINUED Information on subsidiaries (31/03/08) Name of the subsidiary City, country Company number % voting right Change to previous year 2. Statutory consolidation Bever Zwerfsport Investments BV* Zoutermeer, The Netherlands 0.00% -84.80% Sold De Groot International Investments BV* Hedel, The Netherlands 54.27% 0.00% Geveke Investments BV* Amsterdam, The Netherlands 0.00% -79.74% Sold Grandeco Tielt, Belgium 0889.387.654 86.00% 86.00% Hebu Investments BV* HVEG Investments BV* (ex LowLand Fashion) Krimpen aan de Ijssel, The Netherlands 0.00% -75.13% Sold Veenendaal, The Netherlands 50.50% -3.82% Reason why > 50% does not lead to consolidation Interbrush Izegem, Belgium 0875.486.861 85.00% 0.00% Numac Investments BV* Venray, The Netherlands 64.74% 64.74% OGD Investments BV* Delft, The Netherlands 67.39% 0.00% TerStal Investments BV* Almelo, The Netherlands 30.70% 30.70% Fiduciary control Verlihold Antwerpen, Belgium 0893.429.881 80.00% 80.00% * and the subsidiaries that we consolidate WORK FORCE Employees Workers Total Work force 2007-2008 2 857 754 3 611 Work force 2006-2007 1 107 386 1 493 The results of a small number of subsidiaries are not included, by way of application of the materiality principle, or given the fi duciary nature of the control. In the case of a number of subsidiaries which are consolidated, the signifi cant fall in voting rights is due to the partial exercise of options by employees. 9. ACQUISITION OF SUBSIDIARIES (IN EUR 000) In April 2007 gimv acquired an 86 percent shareholding in Grandeco Wallfashion Group NV. As one of Europe’s largest producers of wall coverings, Grandeco produces in particular high quality vinyl wallpaper both under its own brands and for private label. The company has production facilities in Belgium and France and a distribution centre in the United Kingdom. In November 2007 Gimv acquired an 80 percent shareholding in Verlihold NV. This company has grown into the largest chicken processor on the Belgian market. The group consists of a slaughterhouse, a cutting plant, a packaging plant, a slaughter waste processor and a proprietary cold transportation fl eet. The company is unique in integrating slaughtering, preparation, packaging as well as processing of the slaughter waste on a single site. Through its Halder subsidiary the Gimv group acquired in December 2007 a 65 percent interest in Numac Investments BV. The Numac Group is one of the largest independent technical service providers in the Netherlands, focusing on engineering, maintenance, consulting and automation of industrial installations and machinery. Finally, a 31 percent interest was taken, via Halder, in TerStal Investments BV. This company is included in the consolidation as the group exercises legal control. TerStal offers fashionable, affordable private label clothing for the whole family. With 152 stores, mainly in eastern, central and northern Netherlands, the TerStal Group is one of the larger fashion chains in the Netherlands. TerStal largely develops its own collections, which is produced directly by manufacturers in the Far East. The goodwill from these subsidiaries amounted to EUR 129 539 at 31 March 2008 (EUR 121 205 at 31 March 2007). These acquisitions contributed –EUR 915 to the result. Owing to the contractual arrangements and for reasons of confi dentiality, the Gimv group is unable to release data on the purchase prices or cash impact. We give below an overview of the net assets acquired through these acquisitions: | 119
Page 1 and 2:
ANNUAL REPORT 2007 | 2008
Page 3 and 4:
KEY FIGURES LIMITED CONSOLIDATION 3
Page 5 and 6:
GIMV AT A GLANCE AN ACTIVE INVESTOR
Page 7 and 8:
Strong performance and expansion in
Page 9 and 10:
In 2007-2008 Gimv realised 10 new i
Page 11 and 12:
Structure | 08 Strategy | 09 Market
Page 13 and 14:
STRATEGY Gimv is an independent, li
Page 15 and 16:
Fundraising Provisional fi gures fr
Page 17 and 18:
35000 30000 25000 20000 15000 10000
Page 19 and 20:
(EUR 6.6 million), Gimv realised in
Page 21 and 22:
Business units Regions Corporate In
Page 23 and 24:
When, in the case of a potential sa
Page 25 and 26:
Gimv takes 86 percent holding WALL
Page 27 and 28:
Gimv accompanies growth through buy
Page 29 and 30:
GIMV OFFERS CREDIBILITY ALFACAM GRO
Page 31 and 32:
Joint venture of network and experi
Page 33 and 34:
Gimv majority shareholder in TerSta
Page 35 and 36:
HVEG - (LowLand Fashion) www.lowlan
Page 37 and 38:
Corporate Investment Germany (Halde
Page 39 and 40:
Gimv invests in world leader VAG DE
Page 41 and 42:
Corporate Investment’s ten larges
Page 43 and 44:
Overview of major shareholdings in
Page 45 and 46:
Oree develops revolutionary lightin
Page 47 and 48:
Liquavista www.liquavista.com Dutch
Page 49 and 50:
DIVESTMENTS Business Architects www
Page 51 and 52:
Overview of the Gimv ICT portfolio
Page 53 and 54:
Gimv continues to support sharehold
Page 55 and 56:
GIMV IS A REFERENCE IN THE BIOTECH
Page 57 and 58:
PamGene www.pamgene.com PamGene, a
Page 59 and 60:
Cleantech Last year Gimv took its f
Page 61 and 62:
INVESTMENTS Electrawinds www.electr
Page 63 and 64:
Human resources | 60 Responsible co
Page 65 and 66:
Policy-wise, Gimv is paying ever gr
Page 67 and 68:
RESPONSIBLE CORPORATE BEHAVIOUR You
Page 69 and 70:
Management | 66 Corporate Governanc
Page 71 and 72: Zeger Collier has had a varied care
Page 73 and 74: Eric Spiessens is a member of the e
Page 75 and 76: Paul De Ridder has been a member of
Page 77 and 78: 1.2 - Evolution of capital The capi
Page 79 and 80: “Prior to the Board of Directors
Page 81 and 82: Finally the audit committee analyse
Page 83 and 84: This includes: - joint fi xed remun
Page 85 and 86: - Rights and duties of shareholders
Page 87 and 88: 10.4 - Threshold for calling a shar
Page 89 and 90: Volume 16 000 000 14 000 000 12 000
Page 91 and 92: 6 - Dividend policy The Board of Di
Page 93 and 94: 9 - Financial calendar 22 May 2008
Page 95 and 96: DURING THE 2007-2008 FINANCIAL YEAR
Page 97 and 98: INTRODUCTION 1. GENERAL INFORMATION
Page 99 and 100: 2. CONSOLIDATED BALANCE SHEET (IN E
Page 101 and 102: Issued capital Sharepremium account
Page 103 and 104: 6. DIVIDENDS, INTEREST, MANAGEMENT
Page 105 and 106: Other operating income and expenses
Page 107 and 108: The distribution of cash and cash e
Page 109 and 110: STATUTORY CONSOLIDATION 1. CONSOLID
Page 111 and 112: 2. CONSOLIDATED BALANCE SHEET (IN E
Page 113 and 114: Attributable to shareholders of the
Page 115 and 116: 4. CONSOLIDATED CASH FLOW STATEMENT
Page 117 and 118: 5.9 Property, plant and equipment P
Page 119 and 120: more appropriate or whether there i
Page 121: 6. IMPACT OF NEW OR AMENDED STANDAR
Page 125 and 126: Assets NON-CURRENT ASSETS 31/03/08
Page 127 and 128: Buy-outs Infrastructure Overhead St
Page 129 and 130: Buy-outs Infrastructure Overhead St
Page 131 and 132: Unrealised gains and losses by acti
Page 133 and 134: 14. TAXES (IN EUR 000) 2007-2008 20
Page 135 and 136: 16. PAID AND PROPOSED DIVIDENDS The
Page 137 and 138: 17. GOODWILL EN ANDERE IMMATERIËLE
Page 139 and 140: 19. GOODWILL IMPAIRMENT The goodwil
Page 141 and 142: 22. INVENTORIES (IN EUR 000) Gimv a
Page 143 and 144: 26. PENSION LIABILITIES (IN EUR 000
Page 145 and 146: Restructuring provision Environment
Page 147 and 148: 29. RELATED PARTIES (IN EUR 000) Ye
Page 149 and 150: 30. FINANCIAL RISK MANAGEMENT See D
Page 151 and 152: 34. OFF-BALANCE SHEET OBLIGATIONS A
Page 153 and 154: Current liabilities rose by almost
Page 155 and 156: 37. CONNECTION BETWEEN LIMITED AND
Page 157 and 158: 1. BALANCE SHEET AFTER DISTRIBUTION
Page 159 and 160: GLOSSARY Blue chip: a company that
Page 161 and 162: Concept & design Concerto Photograp
show all

ANNUAL REPORT 2007 | 2008 - Gimv

Create successful ePaper yourself

Delete template?

Save as template?