IC Companys – Annual Report 2008/09 0 - IC Companys A/S

For defined contribution plans, the employer is obliged to pay a defined contribution (for example a fixed amount
or a fixed percentage of an employee’s salary). For a defined contribution plan, the Group runs no risk in respect
of future developments in interest rates, inflation, mortality or disability.
Group
DKK million 30.06.2009 30.06.2008
Recognised in the income statement:
Contribution for defined contribution plans 34.6 33.3
Pension costs 1.4 2.1
Calculated interest on obligation 1.7 1.5
Expected return on the assets of the plan (1.4) (1.4)
Prior-year adjustments 0.3 0.2
Recognised actuarial profit/loss (1.3) (0.3)
Recognised in the income statement regarding defined benefit plans 0.7 2.1
Total recognised costs 35.3 35.4
Change in recognised obligation:
Net obligation for defined benefit plans at 1 July 5.7 5.1
Recognised in the income statement 0.7 2.1
Group contributions (1.6) (1.5)
Currency adjustments opening net liabilities (0.2) -
Net obligation at 30 June 4.6 5.7
The pension obligation is specified as follows:
DKK million 30. june 2009 30. june 2008 30. june 2007 30. june 2006 30. june 2005
Present value of defined benefit
plans 25.0 30.6 31.2 32.6 30.7
Fair value of the assets of the plan (20.4) (24.9) (26.1) (24.3) (21.4)
Total 4.6 5.7 5.1 8.3 9.3
The average assumptions for the actuarial calculations at the balance sheet date were:
DKK million 2009 2008
Average discounting rate applied 4.0 % 5.5 %
Expected return on plan assets 5.8 % 5.8 %
Expected future pay increase rate 3.8 % 2.3 %
The plan assets consist of ordinary investment assets, including shares and bonds. No investments have been
made in the Group’s own shares.
The expected return on the plans is based on long term expectations to the return of the assets in the respective
countries. The return of the plans’ assets amounted to DKK -4.6 million in 2008/09 (2007/08: DKK -2.5 million).
The Group’s expected contribution to the plans in 2009/10 amounts to DKK 1.3 million.
21. Other provisions
DKK Million
Provisions for
loss-making
contracts
Total provisions
Provisions as at 30 June 2008 - -
Transferred from other debts 2007/08 3,3 3,3
Provisions for the year 7,6 7,6
Provisions as at 30 June 2009 10,9 10,9
DKK 1.2 million of the total provisions of DKK 10.9 million will lapse within 1 year.
IC Companys – Årsrapport 2008/09
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