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Financial review 2009 EUR’000 December 31, 2009 100 basis points increase Profit / (loss) Equity 100 basis points decrease 100 basis points increase 100 basis points decrease Variable rate instruments (5,273) 5,273 (5,273) 5,273 Net Interest rate swaps floating to fixed 8 500 (8,500) 8,500 (8,500) Total 3,227 (3,227) 3,227 (3,227) Variable rate instruments (5,273) 5,273 (5,273) 5,273 % not hedged by interest rate swaps 32.0% 32.0% 32.0% 32.0% Cash flow sensitivity (net) (1,687) 1,687 (1,687) 1,687 EUR’000 December 31, 2008 100 basis points increase Profit / (loss) Equity 100 basis points decrease 100 basis points increase 100 basis points decrease Variable rate instruments (5,232) 5,232 (5,232) 5,232 Net Interest rate swaps floating to fixed 13,000 (13,000) 13,000 (13,000) Total 7,768 (7,768) 7,768 (7,768) Variable rate instruments (5,232) 5,232 (5,232) 5,232 % not hedged by interest rate swaps 17.1% 17.1% 17.1% 17.1% Cash flow sensitivity (net) (895) 895 (895) 895 Fair values The fair values of financial assets and liabilities approximate the carrying amounts.
Interest rates used for determining fair value The interest rates used to discount estimated cash flows, where applicable, are based on the government yield curve at the reporting date plus an adequate spread and were as follows: % 2009 2008 Derivatives 2.0% 2.8% Finance leases 5.0% 5.1% 6.3 Operating leases Operating lease and rentals as at December 31 are payable as follows: EUR’000 2009 2008 Less than one year 21,440 10,385 Between one and five years 46,213 29,866 More than five years 4,254 0 71,907 40,251 The Group leases buildings, equipment and cars. During 2009, EUR 20,016,000 was recognized as expense in the income statement in respect of operating leases and rentals (2008: EUR 16,654,000). 6.4 Purchase and investment commitments The composition as at December 31 was as follows: EUR’000 Total Less than 1 year 1-5 years More than 5 years Total 2008 Property, plant & equipment ordered 7,334 7,334 0 0 8,803 Raw material purchase contracts 146,145 141,979 3,929 237 28,359 153,479 149,313 3,929 237 37.162 page _ 104 / 105
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2009 annual report
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2009 annual report
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Contents Highlights 2009 6 Refresco
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2009 Our strategic achievements Str
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Refresco at a glance
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Our locations in europe 1 The Nethe
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606,001 Acquisition of Refresco by
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ecome Europe’s No. 1 manufacturer
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Strategic development Since its fou
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To expand our juice business in Spa
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2009 revenue A focused, well-balanc
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Risks related to price fluctuations
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Supervisory Board The Supervisory B
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Composition of the Supervisory Boar
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to the British Retail Consortium (B
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“In 2009 Refresco business units
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“We have a continuous search for
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in liters increased by 8% to 3.4 bi
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high quality and on an ambitious gr
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of its customers, no matter what co
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160.000 140.000 120.000 100.000 80.
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These trends create constant demand
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The surrounding countries, Germany
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for retailers developing private la
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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 100 and 101: Financial review 2009 Ageing and im
Page 102 and 103: Financial review 2009 Foreign curre
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
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