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Financial review 2009 Notes to the company financial statements 1 General The financial statements of Refresco Holding B.V. ‘the Company’ are included in the consolidated financial statements of the Group. With reference to the company income statement, use has been made of the exemption pursuant to Section 402 of Book 2 of the Dutch Civil Code. 2 Significant accounting policies For the principles for the recognition and measurement of assets and liabilities and for determination of the result for its company financial statements, the Company makes use of the option provided in section 2:362 (8) of the Dutch Civil Code, under which the principles for the recognition and measurement of assets and liabilities and for determination of the result of the company financial statements are the same as those applied for the consolidated financial statements (hereinafter referred to as principles for recognition and measurement). The consolidated financial statements are prepared according to the standards laid down by the International Accounting Standards Board and adopted by the European Union. These principles are set out on page 69 to 111. Participating interests over which significant influence is exercised are carried on the basis of the equity method. The share in the result of participating interests represents the Company’s share in the result of these participating interests. To the extent that they are deemed to be unrealized, results are not recognized on transactions between the Company and its participating interests and mutually between participating interests themselves. 3 Notes to the company balance sheet and income sheet 3.1 Financial fixed assets Financial fixed assets consist of participating interests in group companies. The movements in the participating interests in group companies were as follows: EUR’000 2009 2008 January 1 113,976 35,907 Share in result of participating interests 20,033 3,410 Capital increase 0 83,774 Transfer to / (from) group companies 0 (3,343) Effect of movements in exchange rates 1,299 (5,772) December 31 135,308 113,976
Refresco Holding B.V. owns the following subsidiaries as at December 31: NAME COMPANY STATUTORY SEAT OWNERSHIP INTEREST 2009 2008 note Refresco B.V. Dordrecht (The Netherlands) 100% 100% Menken Drinks B.V. Bodegraven (The Netherlands) 100% 100% Refresco Onroerend Goed B.V. Amsterdam (The Netherlands) 100% 100% Frisdranken Industrie Winters B.V. Maarheeze (The Netherlands) 100% 100% Refresco Benelux B.V. Maarheeze (The Netherlands) 100% 100% Bronwater Import Kantoor Eindhoven B.V. Maarheeze (The Netherlands) 100% 100% Handelsmaatschappij Winters B.V. Maarheeze (The Netherlands) 100% 100% Schiffers Food B.V. Hoensbroek (The Netherlands 1) 100% 0% Sunco N.V. Ninove (Belgium) 100% 100% Ringside N.V. Ninove (Belgium) 100% 100% Sodraco N.V. Ninove (Belgium) 100% 100% Refresco Iberia S.L. Oliva (Spain) 100% 100% Refresco Deutschland GmbH Herrath (Germany) 100% 100% Krings Fruchtsaft GmbH Herrath (Germany) 100% 100% Hardthof Fruchtsaft GmbH Burgstetten (Germany) 100% 100% VIP-Juicemaker Holding O.y. Kuopio (Finland) 100% 100% VIP-Juicemaker O.y. Kuopio (Finland) 100% 100% Délifruits S.A.S. Marges (France) 100% 100% Ferskur France S.A.S. Marges (France) 100% 100% Eldis S.A.S. Marges (France) 100% 100% Nuits Saint-Georges Production S.A.S. Marges (France) 100% 100% Eaux Minérales de Saint Alban-les-Eaux S.A. Saint Alban (France) 100% 100% Refresco Holdings GB Ltd. London (United Kingdom) 100% 100% Histogram Holdings Ltd. Durham (United Kingdom) 100% 100% Refresco Ltd. Durham (United Kingdom) 2) 100% 100% Refresco Poland Sp Z.o.o. Warsaw (Poland) 100% 100% Kentpol Zywiecki Krysztal p. Z.o.o. Kenty (Poland) 100% 100% 1) See note 6.1 of the notes to the consolidated financial statements. 2) Histogram Ltd has been renamed Refresco Ltd. Furthermore, some legal restructuring was carried out in the United Kingdom, Germany and France. page _ 114 / 115
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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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page _ 24 / 25
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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
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manufacturers taking up product dev
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is in driving ‘values’ as well
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How do you see the future for priva
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enabling consumers to acquire quali
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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 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 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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