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Financial review 2009<br />
Tax losses carry-forwards<br />
The Group has losses carry-forwards for an amount of EUR 7,322,000 (2008: EUR 10,058,000) as<br />
per December 31, 2009, which expire in the following years:<br />
EUR’000<br />
2009 2008<br />
2009 - 2013 0 0<br />
2014 323 323<br />
After 2014 but not unlimited 3,125 5,257<br />
Unlimited 3,874 4,478<br />
7,322 10,058<br />
Recognized as <strong>de</strong>ferred tax assets (net) 6,006 9,387<br />
Not recognized 1,316 671<br />
4.5 Inventories<br />
The composition as at December 31 was as follows:<br />
EUR’000<br />
2009 2008<br />
Stock of raw materials and consumables 46,635 44,050<br />
Stock of finished goods 46,350 49,978<br />
Stocks are impaired for obsolescence by EUR 3,968,000 (2008: EUR 3,771,000).<br />
4.6 Tra<strong>de</strong> and other receivables<br />
The composition as at December 31 was as follows:<br />
EUR’000<br />
92,985 94,028<br />
2009 2008<br />
note<br />
Tra<strong>de</strong> receivables 154,621 157,784<br />
Other receivables, prepayments and accrued income 12,996 11,585<br />
Other taxes and social security premiums 8,855 11,484<br />
6.2 176,472 180,853<br />
Non-current 0 0<br />
Current 176,472 180,853<br />
The exposure to credit and currency risks and impairment losses related to tra<strong>de</strong> and other receivables is<br />
disclosed in note 6.2.
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