4 - Refresco.de

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The Chinese use two brush strokes to write the word ‘crisis’. One brush stroke stands for danger; the other for opportunity. In a crisis, be aware of the danger - but recognize the opportunity. John F. Kennedy, April 12, 1959
Contents Highlights 2009 6 Refresco at a glance 8 Our locations in Europe 10 Growing strong 12 Business review 2009 14 Strategic development 16 Governance 22 Risk management and internal control 22 Corporate governance 26 Supervisory Board Report 2009 28 Sustainable growth 30 Roots & values 30 People & organization 32 Preferred partner 33 Environment 34 Results 2009 36 Outlook 2010 38 Market review 2009 40 Trends in the soft drink & juice market 42 Battle or balance? Developments in private label and A-brands 46 Retailers’ private label growth 53 Building brand equity 55 Financial review 2009 60 Financial statements 64 Auditor’s report 121 Ten years Refresco 123 Contact 124 page _ 4 / 5
Page 1 and 2: 2009 annual report
Page 3: 2009 annual report
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 66 and 67:
Page 68 and 69:
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
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Financial review 2009 EUR’000 DEP
Page 82 and 83:
Financial review 2009 4.2 Intangibl
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Financial review 2009 4.3 Other inv
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Financial review 2009 Tax losses ca
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Financial review 2009 Non-current l
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Financial review 2009 4.11 Employee
Page 92 and 93:
Financial review 2009 Expenses reco
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Financial review 2009 5 Notes to th
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Financial review 2009 5.6 Finance i
Page 98 and 99:
Financial review 2009 The major ite
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Financial review 2009 Ageing and im
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Financial review 2009 Foreign curre
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Financial review 2009 EUR’000 Dec
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Financial review 2009 6.5 Contingen
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Financial review 2009 EUR’000 Rec
Page 110 and 111:
Financial review 2009 EUR’000 Rec
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Financial review 2009 Company balan
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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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