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

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The Company has declared that it will assume unconditional and unqualified responsibility for the company debts of P & I Personal & Informatik AG, Horgen, Switzerland in the event of its insolvency. The company debts of P & I Personal & Informatik AG, Horgen, Switzerland, according to the individual financial statements of the company as at March 31, 2011, amounted to 2,894,000.00 Swiss franks respectively 2,227,000.00 euros (previous year: 2,093,00.00 Swiss franks respectively 1,466,000.00 euros). The risk of any claims arising from the Group guarantees is presently rated as low. The company has not entered into any further contingencies pursuant to § 251 in conjunction with § 268 Para. 7 of the German Commercial Code (HGB). Business not included in the balance as defined by § 285 No. 3 HGB Liabilities from operating leasing agreements As at 31.03.11, future financial obligations for minimum lease payments arising from noncancellable operating leasing arrangements amounted to the following: Due March 31, 2011 '000 euros March 31, 2010 '000 euros Within one year 1,581 1,588 Between one and five years 1,168 1,350 Over five years 1 24 2,750 2,962 These obligations, based on normal market practice, mainly arise from agreements covering buildings, vehicles, computer systems and office equipment. Some of the agreements also include extension or purchase options. There are no escalator clauses and no additional restrictions imposed by leasing arrangements. Leasing agreements were concluded in order to reduce the cash outflow. Payments arising from leasing arrangements made in the fiscal year under review amounted to 1,829,000 euros (previous year: 1,761,000 euros). No financial obligations for minimum lease payments exist as of March 31, 2011. The company has an operating fund credit line with Deutsche Bank AG totalling 500,000 euros (previous year: 500,000 euros). This line of credit can be optionally used via a current account at a charged interest rate of 6.75 per cent, per annum or for short-term special financing with a term of up to three months. In addition to this the company also has another operating fund credit line with the Wiesbadener Volksbank eG amounting to 1,534,000 euros (previous year: 1,534,000 euros) that is available for use via a current account at a charged interest rate of 7.50 per cent, per annum. Neither of these bank credit lines was included on the balance sheet date. The credit available via a bank guarantee listed under contingencies can be used for guarantee, leasing, payment and contract fulfilment sureties. The company will use all present or future securities held for safekeeping at the Commerzbank AG. The call amounting to 803,000 euros mainly includes leasing and contract sureties. No significant risks were used for the evaluation of the financial situation included in the business that was not included in the balance sheet on the balance sheet date. 14
The special details relating to the other financial liabilities were not listed as the business not included in the balance sheet in accordance with § 285 No. 3 HGB corresponds with other financial liabilities in accordance with § 285 No. 3a HGB. E. Notes on the Income Statement 1. SALES Most sales income was generated by domestic sales. 2010/2011 2009/2010 '000 euros '000 euros Licenses 14,597 13,383 Consulting 18,886 17,239 Maintenance 24,075 21,822 Merchandise 497 358 Other 2,008 1,475 Total 60,063 54,277 Included in sales income are sales with affiliated companies amounting to 4,748,000 euros (previous year: 4,979,000 euros). Consulting sales also includes income from training and seminars as well as travel expenses debited to third parties. 2. OTHER OPERATING INCOME 2010/2011 2009/2010 '000 euros '000 euros Appreciation of the investment in P&I AG, Switzerland 789 0 Income from the liquidation of specific provisions Income from the liquidation of compensation claims 149 0 4 393 Income from the sale of securities 0 396 Income from the appreciation of securities 75 71 Other 170 304 Total 1,187 1,164 3. DEPRECIATIONS Included in depreciations are customer base write-downs amounting to 1,135,000 euros (previous year: 992,000 euros). Like the previous year, no non-scheduled depreciations were carried out. 4. OTHER OPERATING EXPENDITURE 2010/2011 2009/2010 '000 euros '000 euros Renting and leasing charges 2,157 2,049 Travel expenses 1,535 1,764 Legal and consulting expenses 3,609 2,144 Advertising and printing costs 692 772 15
Page 1 and 2: Perspectives Annual Financial State
Page 3 and 4: P&I Personal & Informatik Combined
Page 37 and 38: P & I Personal & Informatik AG, Wie
Page 39 and 40: P&I Personal & Informatik AG, Wiesb
Page 41 and 42: scheduled depreciation has been car
Page 43 and 44: D. Balance Sheet Details 1. FIXED A
Page 45 and 46: 2. CURRENT ASSETS 2.1. INVENTORIES
Page 47 and 48: 3. DEFERRED ITEMS "Deferred items"
Page 49 and 50: At the next AGM the Board of Direct
Page 51: deferred and will be included in th
Page 55 and 56: F. Other Details 1. NUMBER OF EMPLO
Page 57 and 58: Dr Thorsten Dippel Associate Direct
Page 59 and 60: to which Argon GmbH belongs is Carl
Page 61 and 62: (this corresponds to 5,954,192 out
Page 63 and 64: voting rights (corresponding to 5,7
Page 65 and 66: "To the best of our knowledge, and
Page 67 and 68: The Supervisory Board held five reg
Page 69: Auditors' certificate "We have exam

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

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