4 - Refresco.de

More documents

Recommendations

Info

Financial review 2009 Ageing and impairment losses The ageing of trade and other receivables at the reporting date was as follows: EUR’000 2009 2008 Gross Impairment Gross Impairment Not past due 156,757 0 155,002 0 Past due 0 - 30 days 15,993 0 22,548 0 Past due 31 - 60 days 2,074 0 1,309 0 Past due more than 60 days 2,964 1,316 3,724 1,730 177,788 1,316 182,583 1,730 The movements in the impairment loss in respect of trade and other receivables during the year were as follows: EUR’000 2009 2008 January 1 1,730 2,086 Impairment loss recognized 167 232 Release of provision (238) (390) Written off (350) (126) Effect of movements in exchange rates 7 (72) December 31 1,316 1,730 The Group determines impairment losses on the basis of specific estimates of losses incurred in respect of trade and other receivables. Based on historic default rates, the Group believes that no impairment loss has occurred in respect of trade receivables not past due or past due by up to 60 days. Liquidity risk The contractual maturities of financial liabilities, including estimated interest payments and excluding the impact of netting agreements, are as shown in the following table. Insofar as these cash flows depend on future floating interest rates, the level of which was unknown on the balance sheet date, these cash flows have been estimated on the basis of rates prevailing on the balance sheet date.
EUR’000 December 31, 2009 Carrying amount Contractual cash flows 6 months or less 6 - 12 months 1 – 2 years 2 – 5 years > 5 years Non-derivative financial liabilities Syndicated bank loans 309,095 (428,652) (17,542) (18,218) (36,481) (217,147) (139,264) Subordinated bank loans 218,182 (582,623) (5,847) (5,847) (12,361) (41,508) (517,060) Finance lease liabilities 14,104 (15,668) (2,449) (2,449) (4,386) (5,208) (1,176) Trade and other payables 226,335 (226,335) (226,335) 0 0 0 0 Bank overdrafts 1,365 (1,365) (1,365) 0 0 0 0 Derivative financial liabilities Interest rate swaps used for hedging 769,081 (1,254,643) (253,538) (26,514) (53,228) (263,863) (657,500) Cash flow 16,281 (22,835) (4,900) (4,519) (7,876) (5,540) 0 EUR’000 December 31, 2008 Carrying amount Contractual cash flows 6 months or less 6 - 12 months 1 – 2 years 2 – 5 years > 5 years Non-derivative financial liabilities Syndicated bank loans 323,320 (463,442) (17,000) (17,835) (35.715) (104,174) (288,718) Subordinated bank loans 199,927 (593,689) (4,047) (7,018) (11,695) (39,272) (531,657) Finance lease liabilities 18,329 (20,546) (2,616) (2,616) (5,053) (7,313) (2,948) Trade and other payables 215,218 (215,218) (215,218) 0 0 0 0 Bank overdrafts 10,858 (10,858) (10,858) 0 0 0 0 Derivative financial liabilities Interest rate derivatives used for hedging 767,652 (1,303,753) (249,739) (27,469) (52,463) (150,759) (823,323) Cash flow 10,122 (12,970) (2,496) (2,347) (5,116) (3,011) 0 page _ 100 / 101
Page 1 and 2:
2009 annual report
Page 3 and 4:
2009 annual report
Page 5 and 6:
Contents Highlights 2009 6 Refresco
Page 7 and 8:
2009 Our strategic achievements Str
Page 9 and 10:
Refresco at a glance
Page 11 and 12:
Our locations in europe 1 The Nethe
Page 13 and 14:
606,001 Acquisition of Refresco by
Page 15 and 16:
ecome Europe’s No. 1 manufacturer
Page 17 and 18:
Strategic development Since its fou
Page 19 and 20:
To expand our juice business in Spa
Page 21 and 22:
2009 revenue A focused, well-balanc
Page 23 and 24:
Risks related to price fluctuations
Page 25 and 26:
page _ 24 / 25
Page 27 and 28:
Supervisory Board The Supervisory B
Page 29 and 30:
Composition of the Supervisory Boar
Page 31 and 32:
to the British Retail Consortium (B
Page 33 and 34:
“In 2009 Refresco business units
Page 35 and 36:
“We have a continuous search for
Page 37 and 38:
in liters increased by 8% to 3.4 bi
Page 39 and 40:
high quality and on an ambitious gr
Page 41 and 42:
of its customers, no matter what co
Page 43 and 44:
160.000 140.000 120.000 100.000 80.
Page 45 and 46:
These trends create constant demand
Page 47 and 48:
The surrounding countries, Germany
Page 49 and 50: for retailers developing private la
Page 51 and 52: A-brands and private label to keep
Page 53 and 54: manufacturers taking up product dev
Page 55 and 56: is in driving ‘values’ as well
Page 57 and 58: How do you see the future for priva
Page 59: enabling consumers to acquire quali
Page 62 and 63: financial review 2009 Business is n
Page 64 and 65: Financial review 2009 Consolidated
Page 70 and 71: Financial review 2009 Transactions
Page 72 and 73: Financial review 2009 2.6 Intangibl
Page 74 and 75: Financial review 2009 to the Group,
Page 76 and 77: Financial review 2009 if there is a
Page 78 and 79: Financial review 2009 concentration
Page 80 and 81: Financial review 2009 EUR’000 DEP
Page 82 and 83: Financial review 2009 4.2 Intangibl
Page 84 and 85: Financial review 2009 4.3 Other inv
Page 86 and 87: Financial review 2009 Tax losses ca
Page 88 and 89: Financial review 2009 Non-current l
Page 90 and 91: Financial review 2009 4.11 Employee
Page 92 and 93: Financial review 2009 Expenses reco
Page 94 and 95: Financial review 2009 5 Notes to th
Page 96 and 97: Financial review 2009 5.6 Finance i
Page 98 and 99: Financial review 2009 The major ite
Page 102 and 103: Financial review 2009 Foreign curre
Page 104 and 105: Financial review 2009 EUR’000 Dec
Page 106 and 107: Financial review 2009 6.5 Contingen
Page 108 and 109: Financial review 2009 EUR’000 Rec
Page 110 and 111: Financial review 2009 EUR’000 Rec
Page 112 and 113: Financial review 2009 Company balan
Page 114 and 115: Financial review 2009 Notes to the
Page 116 and 117: Financial review 2009 3.2 Sharehold
Page 118: Financial review 2009 Other informa
Page 123 and 124: Ten years Refresco EUR ‘000 INCOM
Page 125: Colophon This Annual Report is a pu
show all

4 - Refresco.de

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?