measure and monitor the processes and report results ... - Refresco.de
measure and monitor the processes and report results ... - Refresco.de measure and monitor the processes and report results ... - Refresco.de
Financial review 2010 Consolidated statement of changes in equity 2010 EUR’000 Issued share capital Share premium Translation reserve Other reserves Profit / (loss) for the year Total Noncontrolling Total equity January 1, 2009 2,681 145,963 (2,623) (22,578) (10,991) 112,452 4,311 116,763 Profit appropriation 2008 0 0 0 (10,991) 10,991 0 0 0 Dividends to equity holders Dilution result on 0 0 0 0 0 0 (75) (75) dividend paid to noncontrolling interest 0 0 0 (59) 0 (59) 59 0 Foreign currency translation differences 0 0 1,039 0 0 1,039 260 1,299 Profit / (loss) 0 0 0 0 6,073 6,073 1,539 7,612 december 31, 2009 2,681 145,963 (1,584) (33,628) 6,073 119,505 6,094 125,599 Profit appropriation 2009 0 0 0 6,073 (6,073) 0 0 0 Other 0 0 0 (750) 0 (750) 0 (750) Issue of shares 3i March 24, 2010 Acquisition 20% 875 36,622 0 0 0 37,497 0 37,497 shares Refresco Holding B.V. 752 31,960 0 (27,160) 0 5,552 (5,552) 0 Foreign currency translation differences 0 0 1,595 0 0 1,595 0 1,595 Profit / (loss) 0 0 0 0 9,334 9,334 (542) 8,792 december 31, 2010 4,308 214,545 11 (55,465) 9,334 172,733 0 172,733 Other reserves movement EUR 750,000 regards the classification of the CVAE in France due to changes in French tax legislation. The accompanying notes are an integral part of these consolidated financial statements.
Notes to the consolidated financial statements 1 General 1. 1 Reporting entity Refresco Group B.V. (formerly known as Ferskur Holding 2 B.V.) (a private company with limited liability) is domiciled in the Netherlands, with its registered office at Fascinatio Boulevard 270, 3065 WB Rotterdam. As at March 23rd, 2010 Ferskur Holding 2 B.V. was renamed in Refresco Group B.V. The consolidated financial statements of Refresco Group B.V. (‘Refresco’ or the ‘Company’) as at and for the year ended December 31, 2010 comprise the financial statements of the Company and its subsidiaries (together referred to as the ‘Group’ and individually as ‘Group entities’). The activities of the Group consist of the manufacturing of private label and own brands of fruit juices and soft drinks. Furthermore the Group operates as a contract manufacturer for brands. Sales are made both domestically and abroad, the European Union being the most important market. 1.2 Basis of preparation Statement of compliance The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union. The consolidated financial statements were authorized for issue by the Supervisory Board on March 29, 2011 and were adopted by the Annual General Meeting of Shareholders on March 29, 2011. The company financial statements are part of the 2010 financial statements of Refresco Group B.V.. With regard to the company income statement of Refresco Group B.V., the Company has made use of the exemption pursuant to Section 402 of Book 2 of the Dutch Civil Code. Basis of measurement The consolidated financial statements have been prepared on the historical cost basis except for derivative financial instruments which are measured at fair value. Functional and presentation currency These consolidated financial statements are presented in Euros, which is the Company’s functional currency. All financial information presented in Euros has been rounded to the nearest thousand, unless stated otherwise. Use of estimates and judgements The preparation of financial statements in conformity with IFRS requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses, especially the periodical review of useful lives and residual values of PPE. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any subsequent periods affected. Information is provided in the following notes regarding the areas of estimation and critical judgment used in applying accounting policies that have the most significant effect on the amounts recognized in the financial statements: • • • • • • • Note 2.10: Impairment Note 2.20: Determination of fair values Note 3: Financial risk management Note 4.2: Intangible assets Note 4.4: Deferred tax assets and liabilities Note 4.11: Employee benefits provision Note 4.12: Other provisions page _ 64 / 65
- Page 13 and 14: Our differentiators Our Total Portf
- Page 15 and 16: 18 19 20 Our locations in europe Be
- Page 17: Main achievements • • • •
- Page 20 and 21: hans Roelofs Aart duijzer
- Page 22 and 23: Business review 2010 “A sustainab
- Page 24 and 25: Business review 2010 Review 2010 Lo
- Page 26 and 27: Business review 2010 2010 revenue A
- Page 28 and 29: Business review 2010 People and org
- Page 30 and 31: Business review 2010 Second, furthe
- Page 32 and 33: Business review 2010 Outlook 2011 d
- Page 34 and 35: Business review 2010 Governance Ref
- Page 36 and 37: Business review 2010 Risks related
- Page 38 and 39: Business review 2010 Governance Str
- Page 40 and 41: Business review 2010 Supervisory Bo
- Page 42 and 43: Business review 2010 7.4% to EUR 1,
- Page 45 and 46: Sustainability review 2010
- Page 47 and 48: Raw materials: orange juice Refresc
- Page 49 and 50: Packaging materials Refresco’s ma
- Page 51 and 52: PET One of Refresco’s largest sup
- Page 53 and 54: Transportation Refresco constantly
- Page 55: Refresco Business Units have in rec
- Page 59 and 60: Contents Financial statements 60 Co
- Page 61 and 62: Consolidated income statement 2010
- Page 63: Consolidated cash flow statement 20
- Page 67 and 68: Hedge of a net investment in a fore
- Page 69 and 70: present value of the minimum lease
- Page 71 and 72: Termination benefits Termination be
- Page 73 and 74: • • • • • The definition
- Page 75 and 76: In respect of other monetary assets
- Page 77 and 78: EUR’000 dEPRECIATION ANd IMPAIRME
- Page 79 and 80: 4.2 Intangible assets The compositi
- Page 81 and 82: The values assigned to the key assu
- Page 83 and 84: EUR’000 Movement in temporary dif
- Page 85 and 86: 4.5 Inventories The composition as
- Page 87 and 88: Current liabilities The composition
- Page 89 and 90: The Group contributes to a number o
- Page 91 and 92: Actuarial assumptions Principal act
- Page 93 and 94: 5.3 Employee benefits expense The c
- Page 95 and 96: Finance income and expense recogniz
- Page 97 and 98: The acquisition had the following e
- Page 99 and 100: Liquidity risk The contractual matu
- Page 101 and 102: The following significant exchange
- Page 103 and 104: 6.3 Operating leases Operating leas
- Page 105 and 106: Other related party transactions Th
- Page 107 and 108: Company income statement 2010 EUR
- Page 109 and 110: Refresco Group B.V. owns the follow
- Page 111 and 112: On March, 24 2010 the following sha
Financial review 2010<br />
Consolidated statement of changes in equity 2010<br />
EUR’000<br />
Issued<br />
share<br />
capital<br />
Share<br />
premium<br />
Translation<br />
reserve<br />
O<strong>the</strong>r<br />
reserves<br />
Profit /<br />
(loss) for<br />
<strong>the</strong> year Total<br />
Noncontrolling<br />
Total<br />
equity<br />
January 1, 2009 2,681 145,963 (2,623) (22,578) (10,991) 112,452 4,311 116,763<br />
Profit appropriation<br />
2008<br />
0 0 0 (10,991) 10,991 0 0 0<br />
Divi<strong>de</strong>nds to equity<br />
hol<strong>de</strong>rs<br />
Dilution result on<br />
0 0 0 0 0 0 (75) (75)<br />
divi<strong>de</strong>nd paid to noncontrolling<br />
interest<br />
0 0 0 (59) 0 (59) 59 0<br />
Foreign currency<br />
translation differences<br />
0 0 1,039 0 0 1,039 260 1,299<br />
Profit / (loss) 0 0 0 0 6,073 6,073 1,539 7,612<br />
<strong>de</strong>cember 31, 2009 2,681 145,963 (1,584) (33,628) 6,073 119,505 6,094 125,599<br />
Profit appropriation<br />
2009<br />
0 0 0 6,073 (6,073) 0 0 0<br />
O<strong>the</strong>r 0 0 0 (750) 0 (750) 0 (750)<br />
Issue of shares<br />
3i March 24, 2010<br />
Acquisition 20%<br />
875 36,622 0 0 0 37,497 0 37,497<br />
shares <strong>Refresco</strong><br />
Holding B.V.<br />
752 31,960 0 (27,160) 0 5,552 (5,552) 0<br />
Foreign currency<br />
translation differences<br />
0 0 1,595 0 0 1,595 0 1,595<br />
Profit / (loss) 0 0 0 0 9,334 9,334 (542) 8,792<br />
<strong>de</strong>cember 31, 2010 4,308 214,545 11 (55,465) 9,334 172,733 0 172,733<br />
O<strong>the</strong>r reserves movement EUR 750,000 regards <strong>the</strong> classification of <strong>the</strong> CVAE in France due to changes in French tax legislation.<br />
The accompanying notes are an integral part of <strong>the</strong>se consolidated financial statements.
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