annual report 2008 Pelikan Holding AG

Sales (Contd.)
The Group continued to focus its attention to develop the markets outside Europe to reduce dependence on the
maturing European markets which represents 82.0% of the Group’s sales in 2008. The business in Latin America
grew by 9.4% despite operating in severe currency depreciation situation in 2008.
Result
In million CHF 2008 2007
(Loss)/profit before taxation (4.1) 9.0
Operating results of Pelikan Group amounted to CHF 2.5 million in 2008 (2007: CHF 13.4 million). The result
from associated in Australia, Japan and Colombia showed a after tax profit of CHF 1.9 million (2007: CHF 2.5
million). Pelikan Group incurred a net interest expense of CHF 4.3 million (2007: CHF 2.7 million), while
expenses for pensioners came to CHF 4.3 million (2007: CHF 4.3 million). Taxes (expense) amounted to CHF 4.4
million (2007: CHF 2.5 million). The net loss for the year amounted to CHF 11.4 million (2007: net profit CHF 3.9
million).
At Pelikan Holding AG company level, the financial statements showed a net loss of CHF 1.6 million for the year
(2007: net loss CHF 1.5 million).
Personnel
The Group’s employees declined in 2008 arising from rationalisation efforts of the distribution and production
companies.
Personnel Dec. 31, 2008 Dec. 31, 2007 Dec. 31, 2006
Germany 493 511 417
Switzerland 26 26 17
Italy 39 41 36
Rest of Europe 149 131 45
Total Europe 707 709 515
Latin-America 448 446 404
Other countries 66 81 60
Total Group 1,221 1,236 979
Investments in fixed assets
Investments in fixed assets during the year amounted to CHF 5.9 million (2007: CHF 7.9 million). Major
investments were made in Germany for, among others, the following projects:
- Tooling and equipment for new production lines for:
a) Higher priced writing instruments - Limited Edition 7 Wonders Part 5 Wonders “Hanging Gardens” and
Limited Edition “Calculation of times”
b) School - writing - griffix ® Learn to Write System and design eraser
c) School - paint - Redesign and clickbox for paint box K12/K24
d) Office - Blanco Correction Sideway Roller “Xycle”
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