Annual Financial Statement P&I Personal & Informatik AG April 1 ...

P&I Personal & Informatik Combined Management Report (Group and Cooperation)
In '000 euros 2009/2010 2010/2011 Variance
Cash and cash
equivalents
24,088 37,962 57.6%
Securities 16,890 11,946 -29.3%
Liquid funds 40,978 49,908 21.8%
Liquid funds rise
Adding the financial investments in available-for-sale securities, which are listed
under current assets, the total amount of liquid resources came to 49.9 million euros
(previous year: 41.0 million euros), which corresponds to an increase of 8.9 million
euros.
As before, there were no liabilities due to banks.
Financial management & financial instruments
Please refer to the details given under 4.2.
5.3 Assets
In '000 euros 2009/2010 2010/2011 Variance
Fixed assets 6,543 6,005 -538
Current assets 54,796 58,755 3,959
Accrued assets 807 1,035 228
Assets 62,146 65,795 3,649
In '000 euros 2009/2010 2010/2011 Variance
Equity 28,977 27,842 -1,135
Accruals 14,326 12,273 -2,053
Liabilities 5,067 8,901 3,834
Deferred income 13,776 15,720 1,944
Deferred tax liabilities 0 1,059 1,059
Equity and liabilities 62,146 65,795 3,649
The value of fixed assets fell from 6.5 million euros in 2009/2010 to 6.0 million euros
in 2010/2011. This included a reduction in scheduled asset depreciations amounting
to 1.4 million euros as well as an appreciation in the shareholding in an affiliated
company (0.8 million euros).
Current assets, consisting of inventories, receivables, other intangible assets,
securities and liquid funds, increased by 4.0 million euros from 54.8 million euros to
58.8 million euros. Whereas the receivables and other intangible assets declined by
3.5 million euros to 7.3 million euros (previous year: 10.8 million euros), the liquid
funds, including other securities, recorded clear growth. They increased from
41.0 million euros in 2009/2010 to the present total of 49.9 million euros. The stock of
own shares is now deduced from equity. The increase in the prepaid expenses
results from the increase in purchased annual maintenance services for external
products, which are made at the start of the calendar year and amortised periodically.
The dividend payout that amounted to 8.3 million euros can easily be compensated
for by the cashflow generated from our current business activities.
Equity, when compared to the previous year, has been reduced by 1.1 million euros
to the present level of 27.8 million euros, as the annual profit for 2010/2011, which
amounted to 10.0 million euros, was reduced by the dividend payment of 8.3 million
euros for fiscal 2009/2010 as well as the sum of 2.8 million euros resulting from the
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