MIRA
INFORM REPORT
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Report Date : |
21.09.2011 |
IDENTIFICATION DETAILS
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Name : |
PICANOL NV |
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Registered Office : |
Ter Waarde 50 Ieper, 8900 Public Subsidiary |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1928 |
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Com. Reg. No.: |
405502362 |
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Legal Form : |
Public Subsidiary |
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Line of Business : |
Manufacture of machinery for textile, apparel and leather production |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Belgium |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
Picanol NV
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Business
Description
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Picanol NV is a Belgium-based company engaged in the development,
production and sale of weaving machines and other related technologies for
the textile industry. Three core divisions focus on the Group’s target
markets. Weaving Solutions (Picanol) which develops, manufactures and sells
high-tech weaving machines, based on air (airjet) or rapier (rapier)
technology. It supplies weaving machines to weaving mills worldwide.
Mechatronics applies itself through PsiControl Mechatronics and Melotte to
the design, the development, the manufacturing and support of technological
components, services and mechatronical system solutions for original
equipment manufacturers in various industries. Manufacturing comprises all
foundry activities (Proferro) and the group’s mechanic finishing
activities. At December 31, 2009, the Picanol Group had subsidiaries and
production facilities in Asia, Europe and the United States, Brazil Mexico
and India. For the six months ended 30 June 2011, Picanol NV's total revenue
increased 45% to EUR260.1M. Net income for the period increased from EUR15.9M
to EUR34.6M. Total revenue reflects increased demand for the Company's
products and services in Weaving Machines & Services, Industries business
segments as well as favorable markets conditions. Net income for the period
benefited from an increase in both gross and operating margins. |
Industry
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Industry |
Miscellaneous Capital Goods |
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ANZSIC 2006: |
2469 - Other Specialised Machinery and
Equipment Manufacturing |
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NACE 2002: |
2954 - Manufacture of machinery for
textile, apparel and leather production |
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NAICS 2002: |
333292 - Textile Machinery Manufacturing |
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UK SIC 2003: |
2954 - Manufacture of machinery for
textile, apparel and leather production |
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US SIC 1987: |
3552 - Textile Machinery |
Key Executives
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News
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Financial
Summary
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Stock Snapshot
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate Overview
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Corporate Structure News
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Bachte-Maria-Leerne |
Belgium |
Personal and Household Products |
7.9 |
21 |
|
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Subsidiary |
Ieper |
Belgium |
Miscellaneous Capital Goods |
524.1 |
2,000 |
|
|
Subsidiary |
Ieper |
Belgium |
Iron and Steel |
85.4 |
526 |
|
|
Subsidiary |
Ieper |
Belgium |
Electronic Instruments and Controls |
36.0 |
116 |
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Subsidiary |
Zonhoven |
Belgium |
Miscellaneous Fabricated Products |
5.7 |
57 |
|
|
Subsidiary |
Ieper |
Belgium |
Miscellaneous Capital Goods |
15.3 |
43 |
|
|
Subsidiary |
Zaventem |
Belgium |
Audio and Video Equipment |
54.8 |
40 |
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Subsidiary |
Mol |
Belgium |
Retail (Specialty) |
12.9 |
11 |
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|
Subsidiary |
Olen |
Belgium |
Retail (Specialty) |
9.6 |
12 |
|
|
Subsidiary |
Herdersem |
Belgium |
Trucking |
0.0 |
5 |
|
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Subsidiary |
Malonne |
Belgium |
Retail (Specialty) |
0.0 |
1 |
Executives Report
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Picanol NV
Significant Developments
There were no significant developments matching your query for KeyID
89259
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Tashkent hosts
Central Asian exhibition for textiles and fashion
UzReport: 04 November 2010
[What follows is the full text of the news story.]
TASHKENT, November
5 (UzReport.com): The 6th Central Asian International Textile Machinery
Exhibition "CAITME 2010" and the 7th Central Asian International
Exhibition for Textiles and Fashion "Textile Expo Uzbekistan 2010"
opened in Tashkent on 4 November.
The exhibitions
are organized by the international exhibition company ITE Uzbekistan, a member
of UFI (the Global Association of the Exhibition Industry), and its partner,
ITE Exhibitions and Conferences Ltd (UK).
In the calendar of
international textile machinery exhibitions, CAITME is among the most
successful. Despite its youth, CAITME has taken up a position as a key industry
event in Central Asia, which brings together world-famous textile machinery
manufacturers.
The joint
exhibition this year presents about 200 companies from 16 countries, including:
Austria, Belgium, UK, Germany, India, Italy, China, Pakistan, Russia, Belarus,
Turkey, Uzbekistan, France, Switzerland, South Korea and Japan.
The main part of
the exhibition is occupied by manufacturers from Europe. This year, Italy has
the greatest representation among European manufacturers with 30 participating
companies, followed by Germany in second place with 26 companies, and
Switzerland in third with eight companies. Three companies will represent
Belgium, and Austria, the UK and France will each have two companies at the
exhibition.
For the second
consecutive year, the outright leader is Turkey with 44 companies. Of Asian
countries, the largest number of exhibitors is from China (12 companies),
followed by India (6), South Korea (3) and Japan (2).
For the first time
in the history of exhibition, five Russian companies are taking part, three of
which are manufacturers of machinery and components for textile production.
The host country
of the exhibition, Uzbekistan, has also expanded its ranks with nine exhibiting
companies, which is an increase on last year (4 companies). These are primarily
the representative offices of foreign companies and enterprises.
The high level of
interest from international companies is due to the attractiveness of the
region's textile industry for foreign investors, who see the Central Asian
countries, and in particular Uzbekistan, as a promising and new market for
technology lines.
In the last few
years alone, Uzbekistan's textile industry has attracted foreign investment of
more than $1.3 billion, and over 100 businesses have been established, with the
participation of foreign investment from Germany, Switzerland, Italy, South
Korea, Japan, Turkey, USA, India and other countries.
The most
interesting display is being prepared by companies in the textile machinery
sector, which forms a major part (85%) of the exhibition. It presents leading
international companies: Textima Export & Import GmbH, Truetzschler GmbH,
Ferrostaal AG, Oerlikon Textile GmbH, Marzoli Spa, Rieter Machine Works Ltd.,
Benteks AS, Erkol, Astas Juki, Picanol, Van de Wiele Grup, China Texmatech and
other major companies and representative offices.
Every year,
Textile Expo Uzbekistan attracts the attention of clothing manufacturers, and
exporters and importers of textile products. This unique industry event is an
ideal platform for business communication between professionals. This year, the
number of exhibitors at the event has increased by 35%, with over 40 companies
from 8 countries.
Today, it is clear
that Uzbekistan's textile and light industry is developing at an encouraging
rate. In the next 5 years alone, over 100 projects are due to be implemented in
the textile and light industry, with a total cost of over $1.6 billion. For
this purpose, a Program for the Development of Uzbekistan's Light and Textile
Industry for 2010-2015 has been developed.
For the first
time, manufacturers from Pakistan will exhibit at Textile Expo Uzbekistan.
Their products are presented on a single national stand of this country. The
exhibitors at the National Stand of Pakistan include producers of yarn,
fabrics, double-dyed products and home textiles.
In order to
develop business partnerships between representatives of the textile industry
from different countries, the second day of the exhibition (5 November) will
feature business meetings between exhibitors and the management of
Uzbekengilsanoat. And on the third day of the exhibition (6 November) there
will be a business tour for exhibitors of selected industrial enterprises,
which are members of Uzbekengilsanoat.
In general, CAITME
2010 and Textile Expo Uzbekistan 2010 will be full of business meetings and
interesting presentations, which will contribute to the success of the program
of modernization of the textile industry, and will play a key role in the implementation
of reforms aimed at modernizing and re-equipping companies in Uzbekistan's
textile industry.
(THROUGH ASIA
PULSE)
05-11 2010
Picanol N. V. Naamloze Vennootschap Files Patent Application for Binding
Device for a Weaving Machine and Method for the Use Thereof
Indian Patent News
12 August 2011
|
[What follows is
the full text of the article.] New Delhi, Aug.
12 -- Belgium based Picanol N. V. Naamloze Vennootschap filed patent
application for binding device for a weaving machine and method for the use
thereof. The inventors are Glorie Patrick and Meyns Ignace. Picanol N. V.
Naamloze Vennootschap filed the patent application on Oct. 21, 2005. The
patent application number is 2080/KOLNP/2005 A. The international
classification numbers are D03C11/00 and 7/00. According to the
Controller General of Patents, Designs & Trade Marks, "Binding
device for a weaving machine, whereby this binding device comprises at least
one or several elements which can be moved up and down, including at least
one thread guide element, characterised in that the binding device comprises
at least an upper guiding part and a lower guiding part for the
above-mentioned elements, whereby these guiding parts are mutually connected
by means of a connecting part; in that the above-mentioned elements which can
be moved up and down define a certain working area and in that the
above-mentioned connecting part, according to the warp direction, is mainly
situated outside the distance over which this working area extends, but,
according to the weft direction, is mainly situated within the distance over
which working area extends." About the
Company Picanol NV
engages in the development, production, and marketing of weaving machines.
The company also offers spare parts related to weaving machines. Its machines
are used in the manufacture of apparel, such as blouses, denims, downproof
vests, handkerchiefs and fancy poplins, lawn fabrics, linen suitings, and
man-made fibre suitings; household fabrics comprising bedspreads, blankets,
curtains, inlets, and print cloths; and technical fabrics, including airbags,
awnings, computer ribbons, filter cloths, industrial fabrics, sail cloths,
and seat fabrics. The company was founded in 1936 and is headquartered in
Ieper, Belgium. Copyright
Contify.com
|
|
Picanol NV Files Patent Application for Device for Inserting of Weft
Threads in an Air Jet Weaving Machine
Indian Patent News
21 May 2011
|
[What follows is
the full text of the article.] New Delhi, May
21 -- Belgium based Picanol NV filed patent application for device for
inserting of weft threads in an air jet weaving machine. The inventors are
Puissant Patrick and Bemelis Jean-Marie. Picanol NV filed
the patent application on July 16, 2007. The patent application number is
2639/KOLNP/2007 A. The international classification number is D03D 37/30. According to the
Controller General of Patents, Designs & Trade Marks, "A device for
inserting of weft threads in an air jet weaving machine comprising at least
one set of main nozzles which are mounted in series, to which each time a
regulating valve is assigned, is provided with a control and regulating unit
which defines the settings of the regulating valves of a set of main nozzles
with respect to one another, in order to form an overall value for the
intensity of the impulse transmission of the set of main nozzles." About the
Company Picanol NV
engages in the development, production, and marketing of weaving machines.
The company also offers spare parts related to weaving machines. Its machines
are used in the manufacture of apparel, such as blouses, denims, downproof
vests, handkerchiefs and fancy poplins, lawn fabrics, linen suitings, and
man-made fibre suitings; household fabrics comprising bedspreads, blankets,
curtains, inlets, and print cloths; and technical fabrics, including airbags,
awnings, computer ribbons, filter cloths, industrial fabrics, sail cloths,
and seat fabrics. The company was founded in 1936 and is headquartered in
Ieper, Belgium. Copyright
Contify.com
|
|
Picanol Files Patent Application for Method and Device for Observing a
Movement Profile of a Weaving Machine
Indian Patent News
08 April 2011
|
[What follows is
the full text of the article.] New Delhi, April
8 -- Belgium based Picanol filed patent application for method and device for
observing a movement profile of a weaving machine. The inventor is
Selschotter Jan. Picanol filed
the patent application on Jan. 18, 2011. The patent application number is
280/KOLNP/2011 A. The international classification number is D03C1/14. According to the
Controller General of Patents, Designs & Trade Marks, "The invention
relates to a method and a device for observing a movement profile of at least
one driven element of a weaving machine, preferably of at least one heald
shaft, comprising the steps: detection of at least one measured value,
preferably of a plurality of measured values, wherein at least one actual
position of the driven element, preferably of the heald shaft, at a definable
measuring moment in a weaving cycle and/or an actual moment of the weaving
cycle when a definable measuring position of the driven element, preferably
of the heald shaft, is reached is detected, and determination of at least one
characteristic value of the movement profile by means of the at least one
detected measured value, preferably by means of the detected measured
values." About the
Company Picanol
develops, produces and markets high-tech weaving machines. Picanol weaving
machines are a synthesis of technological know-how and experience built up
over more than half a century. Today, about 2,600 weaving mills around the
world use Picanol machinery, totalling some 110,000 weaving machines. Copyright
Contify.com
|
|
Picanol Files Patent Application for Storage Element For Weft Thread
Indian Patent News
07 April 2011
|
[What follows is
the full text of the article.] New Delhi, April
7 -- Belgium based Picanol filed patent application for storage element for
weft thread. The inventors are De Corte, Antonius Wilhelmus, Maria, Hiemstra
Hendrik, Cox Gerardus, Puissant Patrick and Maas Godefridus Petrus. Picanol filed
the patent application on Jan. 11, 2011. The patent application number is
156/KOLNP/2011 A. The international classification number is D03D 47/36. According to the
Controller General of Patents, Designs & Trade Marks, "A storage
element with a cavity, wherein the cavity is provided with a substantially
flat shape and the transverse width between the sidewalls of the cavity
decreases slightly in the longitudinal direction (L) of the cavity toward the
outlet, so that the weft thread stored in the cavity is prevented from moving
in the cavity in the direction toward the outlet. A device for feeding a weft
thread to a weaving machine, weaving machine and a method for feeding a weft
thread to a weaving machine." About the
Company Picanol
develops, produces and markets high-tech weaving machines. Copyright
Contify.com
|
|
ITALY : Contract for supplies of weaving machines awarded to Picanol NV
TendersInfo News
30 March 2011
|
[What follows is
the full text of the article.] Direzione casa
reclusione di Massa awarded contract for supplies of weaving machines to
Picanol NV. The restricted procedure was followed for awarding the contract. Scope of work is
supply and installation of looms air. The initial estimated total value of
the contract was 1259140 EUR and the final contract award value was 949833
EUR. The criteria of lowest price was opted for awarding the contract. Information
about the total bids received for this contract is not disclosed in the
release. GPA has not covered this contract with no possible sub-contracting.
Financing for this contract is not done by any community funds. Contract is
not awarded by using an electronic auction. Copyright 2011
Euclid Infotech Pvt. Ltd., distributed by Contify.com
|
|
Picanol N.V. Files Patent Application for Throttle Valve for Weaving
Looms
Indian Patent News
01 March 2011
|
[What follows is
the full text of the article.] New Delhi, March
1 -- Belgium based Picanol N.V. filed patent application for throttle valve
for weaving looms. The inventors are Jozef Peeters and Jean Marie Bamelis. Picanol N.V.
filed the patent application on June 18, 2007. The patent application number
is 4632/DELNP/2007 A. The international classification number is F16K5/12. According to the
Controller General of Patents, Designs & Trade Marks, "A valve is
described comprising: a housing having a fluid inlet for receiving a flow of
compressed fluid and a fluid outlet; a flow duct movably mounted with respect
to the housing, the duct having a fluid inlet for receiving a flow of
compressed fluid and a fluid outlet, the fluid outlet being positioned around
at least a pan of the circumference of the duct and being dimensioned to
provide a different flow rate at different sections or positions around the
circumference of the duct; the fluid outlet of the housing being alignable with
a portion of the fluid outlet of the duct to provide a flow rate related to
the relative position of the portion of the fluid outlet of the duct and the
fluid outlet of the housing; and, a drive element for moving, e.g. rotating,
the duct with respect to the housing such that a desired portion of the fluid
outlet of the duct aligns with the fluid outlet of the housing. The valve may
operate as a so-called throttle valve. It is an advantage that the valve is
quickly movable into a desired relative position in order to regulate fluid
flow through the valve. The valve is designed to have a long operational
lifetime as, even if the outer surface of the duct wears, the outlet will not
substantially change in size and the throttling effect will remain substantially
the same." About the
Company Picanol NV
engages in the development, production, and marketing of weaving machines.
The company also offers spare parts related to weaving machines. Its machines
are used in the manufacture of apparel, such as blouses, denims, downproof
vests, handkerchiefs and fancy poplins, lawn fabrics, linen suitings, and
man-made fibre suitings; household fabrics comprising bedspreads, blankets,
curtains, inlets, and print cloths; and technical fabrics, including airbags,
awnings, computer ribbons, filter cloths, industrial fabrics, sail cloths,
and seat fabrics. The company was founded in 1936 and is headquartered in
Ieper, Belgium. Copyright
Contify.com
|
|
Picanol N.V. and Verbrugge N.V. File Patent Application for Heald Frame
Indian Patent News
26 February 2011
|
[What follows is
the full text of the article.] New Delhi, Feb.
26 -- Belgium based Picanol N.V. and Verbrugge N.V. filed patent application
for heald frame. The inventors are Deseyne Joost and Stockman Frank. Picanol N.V. and
Verbrugge N.V. filed the patent application on Jan. 6, 2007. The patent
application number is 1974/KOLNP/2007 A. The international classification
number is D03C9/06. According to the
Controller General of Patents, Designs & Trade Marks, "The invention
relates to a heald frame comprising at least one frame part and at least one
heald carrying rod. A multitude of projections, which are arranged one behind
the other while being situated essentially in a row, are formed from the
heald carrying rod while projecting there from by means of plastic
deformation and are held inside a recess or the like of the frame part." Picanol NV
engages in the development, production, and marketing of weaving machines.
The company also offers spare parts related to weaving machines. Its machines
are used in the manufacture of apparel, such as blouses, denims, downproof
vests, handkerchiefs and fancy poplins, lawn fabrics, linen suitings and
man-made fibre suitings; household fabrics comprising bedspreads, blankets,
curtains, inlets, and print cloths; and technical fabrics, including airbags,
awnings, computer ribbons, filter cloths, industrial fabrics, sail cloths,
and seat fabrics. The company was founded in 1936 and is headquartered in Ieper,
Belgium. Copyright
Contify.com
|
|
Picanol NV Files Patent Application for Guide Element for a Gripper
Transport Element of a Weaving Machine
Indian Patent News
25 January 2011
|
[What follows is
the full text of the article.] New Delhi, Jan.
25 -- Belgium based Picanol NV filed patent application for guide element for
a gripper transport element of a weaving machine. The Inventors are
Moeneclaey Denis and Carpentier Joost. Picanol NV filed
the patent application April 5, 2007. The patent application number is
1195/KOLNP/2007 A. The International classification number is D03D47/27. According to the
Controller General of Patents, Designs & Trade Marks, "The invention
relates to guide elements for a gripper transport element of a weaving
machine, comprising a frame which is open at one side. A shoulder extends
from the frame at a lower section and forms a guide for a portion of a
gripper transport element, which is located outside the frame." Picanol NV
engages in the development, production, and marketing of weaving machines.
The company also offers spare parts related to weaving machines. Its machines
are used in the manufacture of apparel, such as blouses, denims, downproof
vests, handkerchiefs and fancy poplins, lawn fabrics, linen suitings, and
man-made fibre suitings; household fabrics comprising bedspreads, blankets,
curtains, inlets, and print cloths; and technical fabrics, including airbags,
awnings, computer ribbons, filter cloths, industrial fabrics, sail cloths,
and seat fabrics. The company was founded in 1936 and is headquartered in
Ieper, Belgium. Copyright
Contify.com
|
|
Picanol NV Files Patent Application for Guide Elements for Gripper
Transport Means of a Weaving Machine
Indian Patent News
25 January 2011
|
[What follows is
the full text of the article.] New Delhi, Jan.
25 -- Belgium based Picanol NV filed patent application for guide elements
for gripper transport means of a weaving machine. The Inventors are Moeneclaey
Denis and Carpentier Joost. Picanol NV filed
the patent application April 5, 2007. The patent application number is
1196/KOLNP/2007 A. The International classification number is D03D47/27. According to the
Controller General of Patents, Designs & Trade Marks, "The invention
relates to guide elements for a gripper transport element of a weaving
machine. At least one projection protrudes in an inward manner from the
guides associated to the lower side and / or the upper side of the engaging
transport element, said projection completing the horizontal guides by means
of at least one of the lateral sides thereof." Picanol NV
engages in the development, production, and marketing of weaving machines.
The company also offers spare parts related to weaving machines. Its machines
are used in the manufacture of apparel, such as blouses, denims, downproof
vests, handkerchiefs and fancy poplins, lawn fabrics, linen suitings, and
man-made fibre suitings; household fabrics comprising bedspreads, blankets,
curtains, inlets, and print cloths; and technical fabrics, including airbags,
awnings, computer ribbons, filter cloths, industrial fabrics, sail cloths,
and seat fabrics. The company was founded in 1936 and is headquartered in
Ieper, Belgium. Copyright
Contify.com
|
|
Picanol NV Files Patent Application for Gripper Transport Element for a
Weaving Machine
Indian Patent News
25 January 2011
|
[What follows is
the full text of the article.] New Delhi, Jan.
25 -- Belgium based Picanol NV filed patent application for gripper transport
element for a weaving machine. The Inventors are Moeneclaey Denis and
Carpentier Joost. Picanol NV filed
the patent application April 5, 2007. The patent application number is
1197/KOLNP/2007 A. The International classification number is D03D47/27. According to the
Controller General of Patents, Designs & Trade Marks, "The invention
relates to a gripper transport element in the form of a gripper band or a
gripper rod for a weaving machine. According to the invention, at least two
longitudinal grooves in the lower side thereof are provided over a part of
the length, said grooves being arranged at a distance from each other in the
horizontal direction and enlarge the horizontal guide surface." Picanol NV
engages in the development, production, and marketing of weaving machines.
The company also offers spare parts related to weaving machines. Its machines
are used in the manufacture of apparel, such as blouses, denims, downproof
vests, handkerchiefs and fancy poplins, lawn fabrics, linen suitings, and
man-made fibre suitings; household fabrics comprising bedspreads, blankets,
curtains, inlets, and print cloths; and technical fabrics, including airbags,
awnings, computer ribbons, filter cloths, industrial fabrics, sail cloths,
and seat fabrics. The company was founded in 1936 and is headquartered in
Ieper, Belgium. Copyright
Contify.com
|
|
Annual Profit & Loss
|
|
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Turnover |
349.7 |
236.7 |
275.4 |
|
Increase or Decrease in Stocks of Finished
Goods, and Orders in Progress |
-2.8 |
-4.0 |
0.0 |
|
Other Operating Income |
14.9 |
10.9 |
15.3 |
|
Operating Income |
361.9 |
243.6 |
290.7 |
|
Purchases |
232.5 |
132.0 |
161.0 |
|
Increase or Decrease
in Stocks |
-8.1 |
14.9 |
1.9 |
|
Raw Materials, Consumables, and Goods for
Release |
224.4 |
146.8 |
162.9 |
|
Services and Sundry Goods |
55.8 |
57.9 |
76.3 |
|
Remuneration, Social Security Charges, and
Pensions |
44.3 |
58.6 |
72.2 |
|
Depreciation of and Other Amounts Written Off
of Formation Expense, Intangible and Tangible Fixed Assets |
3.3 |
4.9 |
7.2 |
|
Increase or Decrease in Amounts Written Off
Stocks, Orders, and Trade Debtors |
3.6 |
-9.1 |
0.0 |
|
Provisions for Liabilities and Charges |
1.7 |
6.3 |
-1.3 |
|
Other Operating Charges |
1.1 |
1.6 |
2.4 |
|
Operating Charges |
334.1 |
266.9 |
319.7 |
|
Income From Financial Fixed Assets |
1.3 |
7.7 |
1.5 |
|
Income From Current Assets |
1.5 |
1.2 |
2.7 |
|
Other Financial Income |
1.7 |
2.3 |
0.3 |
|
Financial Income |
4.5 |
11.2 |
4.4 |
|
Interest and Other Debt Charges |
0.3 |
1.0 |
1.1 |
|
Other Financial Charges |
1.5 |
2.4 |
3.0 |
|
Financial Charges |
1.8 |
3.3 |
4.2 |
|
Gain on Disposal of Fixed Assets |
0.1 |
0.2 |
0.1 |
|
Other Extraordinary Income |
0.0 |
0.0 |
2.6 |
|
Extraordinary Income |
0.1 |
0.2 |
2.8 |
|
Amounts Written Off on Financial Fixed Assets |
- |
3.4 |
5.1 |
|
Loss on Disposal of Fixed Assets |
- |
0.3 |
0.0 |
|
Other Extraordinary Charges |
0.0 |
0.0 |
0.0 |
|
Extraordinary Charges |
0.0 |
3.8 |
5.1 |
|
Income Taxes |
0.0 |
0.0 |
0.0 |
|
Adjustment of Income Taxes and Write-Back of
Tax Provisions |
- |
- |
0.0 |
|
Income Taxes |
0.0 |
0.0 |
0.0 |
|
Employees |
617 |
839 |
905 |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Intangible Assets |
1.1 |
1.9 |
2.5 |
|
Land & Buildings |
6.8 |
7.9 |
8.2 |
|
Plant, Machinery, and
Equipment |
3.0 |
3.7 |
6.0 |
|
Furniture and Vehicles |
0.2 |
0.3 |
0.5 |
|
Leasing and Other
Similar Rights |
- |
- |
0.4 |
|
Other Tangible Assets |
0.3 |
0.4 |
0.3 |
|
Assets Under
Construction and Advance Payments |
0.0 |
0.0 |
0.0 |
|
Tangible Assets |
10.4 |
12.2 |
15.4 |
|
Participating
Interests |
72.1 |
61.3 |
63.6 |
|
Affiliated Enterprises |
72.1 |
61.3 |
63.6 |
|
Participating
Interests |
0.1 |
0.1 |
0.1 |
|
Other Enterprises
Linked by Participating Interests |
0.1 |
0.1 |
0.1 |
|
Amounts Receivable and
Cash Guarantees |
0.1 |
0.1 |
0.2 |
|
Other Capital Assets |
0.1 |
0.1 |
0.2 |
|
Capital Assets |
72.2 |
61.5 |
63.9 |
|
Fixed Assets |
83.8 |
75.7 |
81.8 |
|
Trade Debtors |
4.8 |
4.5 |
9.7 |
|
Amounts Receivable After More Than One Year |
4.8 |
4.5 |
9.7 |
|
Raw Materials and Consumables |
17.5 |
15.3 |
21.0 |
|
Work in Progress |
3.1 |
6.4 |
4.5 |
|
Finished Goods |
2.7 |
2.5 |
7.6 |
|
Stocks |
23.3 |
24.2 |
33.1 |
|
Inventory and Orders in Progress |
23.3 |
24.2 |
33.1 |
|
Trade Debtors |
53.0 |
33.0 |
33.6 |
|
Other Amounts
Receivable |
7.7 |
14.0 |
8.4 |
|
Amounts Receivable Within One Year |
60.7 |
47.0 |
42.0 |
|
Other Investments and
Deposits |
0.1 |
0.1 |
0.1 |
|
Investments |
0.1 |
0.1 |
0.1 |
|
Liquid Assets |
17.6 |
10.4 |
5.8 |
|
Adjustment Accounts |
0.3 |
0.2 |
0.2 |
|
Current Assets |
106.6 |
86.3 |
90.8 |
|
Total Assets |
190.4 |
162.0 |
172.6 |
|
Issued Capital |
29.8 |
31.9 |
10.3 |
|
Capital |
29.8 |
31.9 |
10.3 |
|
Paid-In Capital |
2.0 |
2.2 |
1.9 |
|
Legal Reserve |
1.0 |
1.1 |
1.0 |
|
Untaxed Reserves |
14.9 |
15.9 |
15.5 |
|
Reserves Available for
Distribution |
42.7 |
45.6 |
44.2 |
|
Reserves |
58.6 |
62.6 |
60.7 |
|
Pensions and Similar
Obligations |
11.2 |
12.7 |
5.5 |
|
Other Liabilities and
Charges |
5.9 |
3.7 |
4.1 |
|
Provisions for
Liabilities and Charges |
17.0 |
16.4 |
9.6 |
|
Provisions and Deferred Taxes |
17.0 |
16.4 |
9.6 |
|
Capital and Reserves |
80.0 |
52.3 |
48.8 |
|
Credit Institutions |
1.5 |
3.0 |
6.4 |
|
Financial Debts |
1.5 |
3.0 |
6.4 |
|
Amounts Due After More Than One Year |
1.5 |
3.0 |
6.4 |
|
Current Portion of
Amounts Payable After More Than One Year |
2.8 |
6.7 |
10.8 |
|
Credit Institutions |
- |
8.6 |
33.4 |
|
Other Loans |
3.9 |
2.6 |
4.5 |
|
Financial Debts |
3.9 |
11.2 |
37.8 |
|
Suppliers |
56.7 |
50.6 |
40.7 |
|
Trade Debts |
56.7 |
50.6 |
40.7 |
|
Advances Received on
Orders in Progress |
17.3 |
5.7 |
4.0 |
|
Taxes |
0.6 |
0.9 |
0.7 |
|
Remuneration and
Social Security |
7.0 |
12.7 |
11.4 |
|
Taxes, Wages, and
Social Security |
7.6 |
13.6 |
12.1 |
|
Other Amounts Payable |
0.1 |
0.1 |
0.1 |
|
Amounts Payable Within One Year |
88.4 |
87.8 |
105.4 |
|
Adjustment Accounts |
3.5 |
2.5 |
2.4 |
|
Creditors |
93.4 |
93.3 |
114.2 |
|
Total Liabilities + Shareholders' Equity |
190.4 |
162.0 |
172.6 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
Deloitte LLP |
Deloitte LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
524.1 |
348.0 |
413.4 |
565.3 |
514.8 |
|
Revenue |
524.1 |
348.0 |
413.4 |
565.3 |
514.8 |
|
Total Revenue |
524.1 |
348.0 |
413.4 |
565.3 |
514.8 |
|
|
|
|
|
|
|
|
Cost of Revenue |
415.6 |
315.2 |
379.5 |
469.2 |
433.1 |
|
Cost of Revenue, Total |
415.6 |
315.2 |
379.5 |
469.2 |
433.1 |
|
Gross Profit |
108.5 |
32.9 |
33.8 |
96.1 |
81.7 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
45.5 |
52.8 |
67.8 |
79.4 |
70.4 |
|
Total Selling/General/Administrative Expenses |
45.5 |
52.8 |
67.8 |
79.4 |
70.4 |
|
Restructuring Charge |
0.1 |
16.7 |
- |
- |
- |
|
Loss (Gain) on Sale of Assets - Operating |
0.4 |
- |
- |
- |
- |
|
Other Unusual Expense (Income) |
- |
2.1 |
- |
- |
- |
|
Unusual Expense (Income) |
0.6 |
18.8 |
- |
- |
- |
|
Other Operating Expense |
1.4 |
0.5 |
0.1 |
0.3 |
3.6 |
|
Other, Net |
-0.8 |
-0.1 |
-2.9 |
-0.2 |
-4.6 |
|
Other Operating Expenses, Total |
0.6 |
0.5 |
-2.8 |
0.1 |
-1.0 |
|
Total Operating Expense |
462.3 |
387.2 |
444.5 |
548.7 |
502.4 |
|
|
|
|
|
|
|
|
Operating Income |
61.9 |
-39.2 |
-31.1 |
16.6 |
12.4 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-1.5 |
-2.7 |
-5.3 |
-5.9 |
-4.0 |
|
Interest Expense, Net Non-Operating |
-1.5 |
-2.7 |
-5.3 |
-5.9 |
-4.0 |
|
Interest Income -
Non-Operating |
1.4 |
1.8 |
2.9 |
4.9 |
3.2 |
|
Interest/Investment Income - Non-Operating |
1.4 |
1.8 |
2.9 |
4.9 |
3.2 |
|
Interest Income (Expense) - Net Non-Operating Total |
-0.1 |
-1.0 |
-2.4 |
-0.9 |
-0.8 |
|
Other Non-Operating Income (Expense) |
0.3 |
-0.8 |
0.0 |
-1.2 |
-0.5 |
|
Other, Net |
0.3 |
-0.8 |
0.0 |
-1.2 |
-0.5 |
|
Income Before Tax |
62.1 |
-41.0 |
-33.5 |
14.5 |
11.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
15.4 |
-8.3 |
-10.8 |
5.5 |
4.1 |
|
Income After Tax |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Income Before Extraord Items |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
Net Income |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
17.7 |
11.6 |
10.9 |
10.9 |
10.9 |
|
Basic EPS Excl Extraord Items |
2.64 |
-2.82 |
-2.09 |
0.82 |
0.64 |
|
Basic/Primary EPS Incl Extraord Items |
2.64 |
-2.82 |
-2.09 |
0.82 |
0.64 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
- |
- |
|
Diluted Net Income |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
Diluted Weighted Average Shares |
17.7 |
11.6 |
10.9 |
10.9 |
10.9 |
|
Diluted EPS Excl Extraord Items |
2.64 |
-2.82 |
-2.09 |
0.82 |
0.64 |
|
Diluted EPS Incl Extraord Items |
2.64 |
-2.82 |
-2.09 |
0.82 |
0.64 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.19 |
0.22 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
2.0 |
- |
|
Interest Expense, Supplemental |
1.5 |
2.7 |
5.3 |
5.9 |
4.0 |
|
Depreciation, Supplemental |
10.6 |
13.1 |
13.1 |
12.9 |
17.7 |
|
Total Special Items |
0.6 |
18.8 |
- |
- |
- |
|
Normalized Income Before Tax |
62.7 |
-22.2 |
-33.5 |
14.5 |
11.0 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.1 |
6.6 |
- |
- |
- |
|
Inc Tax Ex Impact of Sp Items |
15.6 |
-1.7 |
-10.8 |
5.5 |
4.1 |
|
Normalized Income After Tax |
47.1 |
-20.5 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
47.1 |
-20.5 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.66 |
-1.77 |
-2.09 |
0.82 |
0.64 |
|
Diluted Normalized EPS |
2.66 |
-1.77 |
-2.09 |
0.82 |
0.64 |
|
Amort of Intangibles, Supplemental |
1.5 |
2.6 |
3.6 |
4.6 |
- |
|
Normalized EBIT |
62.5 |
-20.4 |
-31.1 |
16.6 |
12.4 |
|
Normalized EBITDA |
74.6 |
-4.7 |
-14.4 |
34.1 |
30.1 |
|
Current Tax - Total |
4.7 |
0.0 |
0.2 |
6.4 |
2.3 |
|
Current Tax - Total |
4.7 |
0.0 |
0.2 |
6.4 |
2.3 |
|
Deferred Tax - Total |
10.7 |
-8.3 |
-11.0 |
-0.8 |
1.8 |
|
Deferred Tax - Total |
10.7 |
-8.3 |
-11.0 |
-0.8 |
1.8 |
|
Income Tax - Total |
15.4 |
-8.3 |
-10.8 |
5.5 |
4.1 |
|
Interest Cost - Domestic |
1.0 |
0.9 |
0.8 |
0.7 |
- |
|
Service Cost - Domestic |
0.2 |
0.2 |
0.2 |
0.2 |
- |
|
Prior Service Cost - Domestic |
0.0 |
1.2 |
1.2 |
1.0 |
- |
|
Expected Return on Assets - Domestic |
-0.2 |
-0.3 |
-0.3 |
-0.3 |
- |
|
Actuarial Gains and Losses - Domestic |
0.6 |
-0.2 |
0.5 |
-0.1 |
- |
|
Curtailments & Settlements - Domestic |
0.0 |
0.0 |
0.0 |
0.2 |
- |
|
Other Pension, Net - Domestic |
0.0 |
0.0 |
0.7 |
0.0 |
- |
|
Domestic Pension Plan Expense |
1.6 |
1.7 |
3.2 |
1.7 |
- |
|
Defined Contribution Expense - Domestic |
0.9 |
1.1 |
1.8 |
1.4 |
- |
|
Total Pension Expense |
2.5 |
2.8 |
5.0 |
3.1 |
- |
|
Discount Rate - Domestic |
4.00% |
5.00% |
5.00% |
5.50% |
- |
|
Expected Rate of Return - Domestic |
4.00% |
4.50% |
4.50% |
4.50% |
- |
|
Compensation Rate - Domestic |
2.00% |
2.88% |
2.88% |
2.88% |
- |
|
Total Plan Interest Cost |
1.0 |
0.9 |
0.8 |
0.7 |
- |
|
Total Plan Service Cost |
0.2 |
0.2 |
0.2 |
0.2 |
- |
|
Total Plan Expected Return |
-0.2 |
-0.3 |
-0.3 |
-0.3 |
- |
|
Total Plan Other Expense |
0.0 |
0.0 |
0.7 |
0.0 |
- |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
0.683971 |
0.758351 |
|
Auditor |
Deloitte LLP |
Deloitte LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
37.2 |
27.0 |
18.2 |
27.6 |
21.7 |
|
Cash and Short Term Investments |
37.2 |
27.0 |
18.2 |
27.6 |
21.7 |
|
Trade Accounts Receivable - Net |
75.8 |
47.1 |
47.8 |
90.8 |
91.3 |
|
Other Receivables |
28.5 |
18.7 |
3.8 |
8.4 |
19.1 |
|
Total Receivables, Net |
104.3 |
65.7 |
51.6 |
99.2 |
110.4 |
|
Inventories - Finished Goods |
18.2 |
15.3 |
24.3 |
18.4 |
20.5 |
|
Inventories - Work In Progress |
13.6 |
14.7 |
12.1 |
20.6 |
20.8 |
|
Inventories - Raw Materials |
67.9 |
60.3 |
70.5 |
70.6 |
59.8 |
|
Inventories - Other |
-35.6 |
-33.8 |
-25.1 |
-21.8 |
-20.5 |
|
Total Inventory |
64.0 |
56.6 |
81.8 |
87.8 |
80.7 |
|
Prepaid Expenses |
0.6 |
1.0 |
7.1 |
- |
- |
|
Other Current Assets |
- |
- |
0.3 |
- |
- |
|
Other Current Assets, Total |
- |
- |
0.3 |
- |
- |
|
Total Current Assets |
206.1 |
150.3 |
159.0 |
214.7 |
212.8 |
|
|
|
|
|
|
|
|
Land/Improvements |
46.4 |
48.3 |
45.8 |
62.5 |
52.4 |
|
Machinery/Equipment |
251.7 |
266.4 |
278.4 |
282.0 |
248.3 |
|
Construction in
Progress |
0.1 |
0.3 |
6.8 |
0.7 |
0.5 |
|
Other
Property/Plant/Equipment |
2.7 |
2.5 |
2.5 |
2.2 |
1.6 |
|
Property/Plant/Equipment - Gross |
301.0 |
317.5 |
333.5 |
347.4 |
302.9 |
|
Accumulated Depreciation |
-226.9 |
-232.7 |
-253.4 |
-259.5 |
-224.7 |
|
Property/Plant/Equipment - Net |
74.1 |
84.7 |
80.1 |
87.9 |
78.2 |
|
Goodwill - Gross |
0.0 |
0.0 |
2.1 |
2.2 |
2.5 |
|
Accumulated Goodwill Amortization |
- |
- |
0.0 |
0.0 |
-0.6 |
|
Goodwill, Net |
0.0 |
0.0 |
2.1 |
2.2 |
2.0 |
|
Intangibles - Gross |
36.4 |
37.4 |
34.8 |
32.2 |
28.0 |
|
Accumulated Intangible Amortization |
-28.7 |
-29.0 |
-25.7 |
-23.4 |
-16.7 |
|
Intangibles, Net |
7.8 |
8.4 |
9.1 |
8.8 |
11.4 |
|
LT Investments - Other |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Long Term Investments |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Note Receivable - Long Term |
5.0 |
4.7 |
10.0 |
15.3 |
29.3 |
|
Deferred Income Tax - Long Term Asset |
2.9 |
11.7 |
4.6 |
3.0 |
3.7 |
|
Other Long Term Assets |
0.2 |
0.2 |
0.2 |
0.2 |
- |
|
Other Long Term Assets, Total |
3.0 |
11.8 |
4.7 |
3.2 |
3.7 |
|
Total Assets |
296.0 |
260.1 |
265.1 |
332.2 |
337.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
66.3 |
62.8 |
44.5 |
78.0 |
80.4 |
|
Accrued Expenses |
25.1 |
22.7 |
22.2 |
1.4 |
1.4 |
|
Notes Payable/Short Term Debt |
0.3 |
10.0 |
36.9 |
0.0 |
1.0 |
|
Current Portion - Long Term Debt/Capital Leases |
5.2 |
10.9 |
14.6 |
24.4 |
30.5 |
|
Customer Advances |
24.5 |
18.4 |
11.8 |
- |
- |
|
Income Taxes Payable |
3.7 |
1.5 |
1.4 |
2.0 |
3.3 |
|
Other Current Liabilities |
8.0 |
12.2 |
8.0 |
46.5 |
45.2 |
|
Other Current liabilities, Total |
36.2 |
32.1 |
21.1 |
48.5 |
48.5 |
|
Total Current Liabilities |
133.0 |
138.4 |
139.3 |
152.2 |
161.8 |
|
|
|
|
|
|
|
|
Long Term Debt |
1.6 |
3.0 |
6.7 |
15.3 |
28.7 |
|
Capital Lease Obligations |
9.9 |
13.1 |
6.7 |
15.1 |
15.3 |
|
Total Long Term Debt |
11.4 |
16.2 |
13.4 |
30.4 |
44.1 |
|
Total Debt |
16.9 |
37.1 |
65.0 |
54.8 |
75.6 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
3.0 |
0.2 |
2.1 |
11.5 |
12.0 |
|
Deferred Income Tax |
3.0 |
0.2 |
2.1 |
11.5 |
12.0 |
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Reserves |
2.4 |
2.6 |
2.5 |
2.2 |
1.9 |
|
Pension Benefits - Underfunded |
13.5 |
15.3 |
9.3 |
10.0 |
8.6 |
|
Other Liabilities, Total |
15.9 |
17.8 |
11.7 |
12.2 |
10.5 |
|
Total Liabilities |
163.3 |
172.7 |
166.6 |
206.2 |
228.3 |
|
|
|
|
|
|
|
|
Common Stock |
29.1 |
31.2 |
10.3 |
10.8 |
9.8 |
|
Common Stock |
29.1 |
31.2 |
10.3 |
10.8 |
9.8 |
|
Additional Paid-In Capital |
2.0 |
2.2 |
1.9 |
1.9 |
1.8 |
|
Retained Earnings (Accumulated Deficit) |
98.8 |
55.2 |
86.1 |
115.5 |
98.0 |
|
Translation Adjustment |
2.7 |
-1.1 |
0.2 |
-2.3 |
-0.5 |
|
Other Equity, Total |
2.7 |
-1.1 |
0.2 |
-2.3 |
-0.5 |
|
Total Equity |
132.7 |
87.4 |
98.4 |
125.9 |
109.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
296.0 |
260.1 |
265.1 |
332.2 |
337.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
17.7 |
17.7 |
10.9 |
10.9 |
10.9 |
|
Total Common Shares Outstanding |
17.7 |
17.7 |
10.9 |
10.9 |
10.9 |
|
Employees |
2,008 |
2,112 |
2,363 |
2,342 |
2,320 |
|
Accumulated Goodwill Amortization Suppl. |
- |
- |
0.0 |
0.0 |
0.6 |
|
Accumulated Intangible Amort, Suppl. |
28.7 |
29.0 |
25.7 |
23.4 |
16.7 |
|
Deferred Revenue - Current |
24.5 |
18.4 |
11.8 |
- |
- |
|
Total Long Term Debt, Supplemental |
4.3 |
9.7 |
28.1 |
54.8 |
56.5 |
|
Long Term Debt Maturing within 1 Year |
2.8 |
6.7 |
14.6 |
24.4 |
27.8 |
|
Long Term Debt Maturing in Year 2 |
0.4 |
0.8 |
2.9 |
5.4 |
7.2 |
|
Long Term Debt Maturing in Year 3 |
0.4 |
0.8 |
2.9 |
5.4 |
7.2 |
|
Long Term Debt Maturing in Year 4 |
0.4 |
0.8 |
2.9 |
5.4 |
7.2 |
|
Long Term Debt Maturing in Year 5 |
0.4 |
0.8 |
2.9 |
5.4 |
7.2 |
|
Long Term Debt Maturing in 2-3 Years |
0.8 |
1.5 |
5.8 |
10.9 |
14.4 |
|
Long Term Debt Maturing in 4-5 Years |
0.8 |
1.5 |
5.8 |
10.9 |
14.4 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.0 |
1.8 |
8.6 |
0.0 |
|
Total Capital Leases, Supplemental |
12.3 |
17.3 |
9.6 |
17.8 |
18.1 |
|
Capital Lease Payments Due in Year 1 |
2.4 |
4.1 |
2.9 |
2.7 |
2.8 |
|
Capital Lease Payments Due in Year 2 |
2.5 |
2.3 |
1.2 |
1.6 |
1.7 |
|
Capital Lease Payments Due in Year 3 |
2.5 |
2.3 |
1.2 |
1.6 |
1.7 |
|
Capital Lease Payments Due in Year 4 |
2.5 |
2.3 |
1.2 |
1.6 |
1.7 |
|
Capital Lease Payments Due in Year 5 |
2.5 |
2.3 |
1.2 |
1.6 |
1.7 |
|
Capital Lease Payments Due in 2-3 Years |
4.9 |
4.6 |
2.5 |
3.2 |
3.5 |
|
Capital Lease Payments Due in 4-5 Years |
4.9 |
4.6 |
2.5 |
3.2 |
3.5 |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.0 |
3.9 |
1.8 |
8.6 |
8.4 |
|
Total Operating Leases, Supplemental |
3.8 |
9.5 |
13.1 |
11.1 |
10.0 |
|
Operating Lease Payments Due in Year 1 |
2.4 |
4.3 |
4.9 |
4.1 |
3.5 |
|
Operating Lease Payments Due in Year 2 |
0.4 |
1.3 |
2.0 |
1.8 |
1.6 |
|
Operating Lease Payments Due in Year 3 |
0.4 |
1.3 |
2.0 |
1.8 |
1.6 |
|
Operating Lease Payments Due in Year 4 |
0.4 |
1.3 |
2.0 |
1.8 |
1.6 |
|
Operating Lease Payments Due in Year 5 |
0.4 |
1.3 |
2.0 |
1.8 |
1.6 |
|
Operating Lease Pymts. Due in 2-3 Years |
0.7 |
2.6 |
4.1 |
3.5 |
3.2 |
|
Operating Lease Pymts. Due in 4-5 Years |
0.7 |
2.6 |
4.1 |
3.5 |
3.2 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Pension Obligation - Domestic |
2.9 |
7.3 |
7.3 |
7.1 |
- |
|
Plan Assets - Domestic |
2.8 |
6.7 |
6.7 |
6.0 |
- |
|
Funded Status - Domestic |
-0.1 |
-0.6 |
-0.6 |
-1.2 |
- |
|
Accumulated Obligation - Domestic |
14.7 |
10.9 |
10.7 |
9.3 |
- |
|
Unfunded Plan Obligations |
0.0 |
0.9 |
0.9 |
0.3 |
- |
|
Total Funded Status |
-0.1 |
-1.5 |
-1.6 |
-1.5 |
- |
|
Discount Rate - Domestic |
4.00% |
5.00% |
5.00% |
5.50% |
- |
|
Expected Rate of Return - Domestic |
4.00% |
4.50% |
4.50% |
4.50% |
- |
|
Compensation Rate - Domestic |
2.00% |
2.88% |
2.88% |
2.88% |
- |
|
Net Domestic Pension Assets |
- |
- |
10.4 |
10.2 |
- |
|
Net Assets Recognized on Balance Sheet |
- |
- |
10.4 |
10.2 |
- |
|
Total Plan Obligations |
2.9 |
8.2 |
8.2 |
7.4 |
- |
|
Total Plan Assets |
2.8 |
6.7 |
6.7 |
6.0 |
- |
|
|
|
Annual Cash
Flows |
|
Financials in: USD
(mil) |
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
Deloitte LLP |
Deloitte LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
61.9 |
-39.2 |
-31.1 |
16.6 |
12.4 |
|
Depreciation |
12.2 |
15.7 |
16.8 |
17.5 |
17.7 |
|
Depreciation/Depletion |
12.2 |
15.7 |
16.8 |
17.5 |
17.7 |
|
Discontinued Operations |
- |
- |
- |
- |
0.0 |
|
Other Non-Cash Items |
0.0 |
20.4 |
1.6 |
1.0 |
2.9 |
|
Non-Cash Items |
0.0 |
20.4 |
1.6 |
1.0 |
2.9 |
|
Accounts Receivable |
-30.1 |
-3.4 |
- |
- |
- |
|
Inventories |
-14.9 |
19.5 |
- |
- |
- |
|
Other Assets |
-11.1 |
3.6 |
- |
- |
- |
|
Accounts Payable |
7.5 |
16.3 |
- |
- |
- |
|
Taxes Payable |
-2.4 |
0.0 |
-0.2 |
-6.4 |
-4.1 |
|
Other Liabilities |
9.9 |
4.0 |
- |
- |
- |
|
Other Assets & Liabilities, Net |
- |
- |
6.8 |
23.8 |
19.8 |
|
Other Operating Cash Flow |
0.4 |
0.0 |
-2.7 |
- |
- |
|
Changes in Working Capital |
-40.7 |
40.0 |
3.9 |
17.5 |
15.7 |
|
Cash from Operating Activities |
33.4 |
36.9 |
-8.9 |
52.6 |
48.7 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-4.9 |
-5.4 |
-12.4 |
-13.9 |
-12.0 |
|
Capital Expenditures |
-4.9 |
-5.4 |
-12.4 |
-13.9 |
-12.0 |
|
Sale of Fixed Assets |
0.0 |
0.1 |
2.2 |
0.3 |
2.3 |
|
Investment, Net |
- |
- |
0.0 |
-0.9 |
- |
|
Sale of Intangible Assets |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Intangible, Net |
-1.4 |
-1.6 |
-4.3 |
-1.0 |
-1.8 |
|
Other Investing Cash Flow |
1.4 |
1.1 |
2.9 |
4.9 |
3.2 |
|
Other Investing Cash Flow Items, Total |
0.0 |
-0.4 |
0.8 |
3.3 |
3.7 |
|
Cash from Investing Activities |
-4.9 |
-5.8 |
-11.6 |
-10.5 |
-8.3 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-1.5 |
-2.1 |
-5.3 |
-5.9 |
-4.0 |
|
Financing Cash Flow Items |
-1.5 |
-2.1 |
-5.3 |
-5.9 |
-4.0 |
|
Cash Dividends Paid - Common |
0.0 |
0.0 |
-2.2 |
-2.6 |
0.0 |
|
Total Cash Dividends Paid |
0.0 |
0.0 |
-2.2 |
-2.6 |
0.0 |
|
Common Stock, Net |
0.0 |
19.8 |
- |
- |
- |
|
Issuance (Retirement) of Stock, Net |
0.0 |
19.8 |
- |
- |
- |
|
Long Term Debt Issued |
0.3 |
0.6 |
38.8 |
0.0 |
0.4 |
|
Long Term Debt
Reduction |
-17.8 |
-39.9 |
-20.7 |
-28.1 |
-36.9 |
|
Long Term Debt, Net |
-17.6 |
-39.3 |
18.1 |
-28.1 |
-36.6 |
|
Issuance (Retirement) of Debt, Net |
-17.6 |
-39.3 |
18.1 |
-28.1 |
-36.6 |
|
Cash from Financing Activities |
-19.0 |
-21.6 |
10.6 |
-36.6 |
-40.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
2.4 |
-1.5 |
1.4 |
-2.1 |
-1.9 |
|
Net Change in Cash |
11.8 |
8.0 |
-8.5 |
3.3 |
-2.1 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
25.0 |
18.2 |
27.6 |
22.6 |
22.8 |
|
Net Cash - Ending Balance |
36.8 |
26.2 |
19.2 |
25.9 |
20.7 |
|
Cash Interest Paid |
1.5 |
2.1 |
5.3 |
5.9 |
4.0 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
Deloitte LLP |
Deloitte LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Turnover |
524.1 |
348.0 |
413.4 |
565.3 |
514.8 |
|
Total Revenue |
524.1 |
348.0 |
413.4 |
565.3 |
514.8 |
|
|
|
|
|
|
|
|
Cost of Sales |
415.6 |
315.2 |
379.5 |
469.2 |
433.1 |
|
Other Operating Income |
-0.8 |
-0.1 |
-2.9 |
-0.2 |
-4.6 |
|
General & Administrative Costs |
23.9 |
32.5 |
45.3 |
52.2 |
45.8 |
|
Sales and Marketing Costs |
21.6 |
20.3 |
22.6 |
27.3 |
24.5 |
|
Other Operating Expenses |
1.4 |
0.5 |
0.1 |
0.3 |
3.6 |
|
Restructuring Costs |
0.1 |
16.7 |
- |
- |
- |
|
Exceptional Losses |
- |
2.1 |
- |
- |
- |
|
Disposal Fixed Asset |
0.4 |
- |
- |
- |
- |
|
Total Operating Expense |
462.3 |
387.2 |
444.5 |
548.7 |
502.4 |
|
|
|
|
|
|
|
|
Interest Income |
1.4 |
1.8 |
2.9 |
4.9 |
3.2 |
|
Interest Expense |
-1.5 |
-2.7 |
-5.3 |
-5.9 |
-4.0 |
|
Other Fin. Income |
1.6 |
0.4 |
1.2 |
0.3 |
0.7 |
|
Other Fin. Charges |
-1.3 |
-1.2 |
-1.2 |
-1.5 |
-1.2 |
|
Net Income Before Taxes |
62.1 |
-41.0 |
-33.5 |
14.5 |
11.0 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
15.4 |
-8.3 |
-10.8 |
5.5 |
4.1 |
|
Net Income After Taxes |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Income Before Extra. Items |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
Net Income |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
17.7 |
11.6 |
10.9 |
10.9 |
10.9 |
|
Basic EPS Excluding ExtraOrdinary Items |
2.64 |
-2.82 |
-2.09 |
0.82 |
0.64 |
|
Basic EPS Including ExtraOrdinary Item |
2.64 |
-2.82 |
-2.09 |
0.82 |
0.64 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
- |
- |
|
Diluted Net Income |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
Diluted Weighted Average Shares |
17.7 |
11.6 |
10.9 |
10.9 |
10.9 |
|
Diluted EPS Excluding ExtraOrd Items |
2.64 |
-2.82 |
-2.09 |
0.82 |
0.64 |
|
Diluted EPS Including ExtraOrd Items |
2.64 |
-2.82 |
-2.09 |
0.82 |
0.64 |
|
DPS-Common Stock |
0.00 |
0.00 |
0.00 |
0.19 |
0.22 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
2.0 |
- |
|
Normalized Income Before Taxes |
62.7 |
-22.2 |
-33.5 |
14.5 |
11.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
15.6 |
-1.7 |
-10.8 |
5.5 |
4.1 |
|
Normalized Income After Taxes |
47.1 |
-20.5 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
47.1 |
-20.5 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.66 |
-1.77 |
-2.09 |
0.82 |
0.64 |
|
Diluted Normalized EPS |
2.66 |
-1.77 |
-2.09 |
0.82 |
0.64 |
|
Interest Expense |
1.5 |
2.7 |
5.3 |
5.9 |
4.0 |
|
Depreciation |
10.6 |
13.1 |
13.1 |
12.9 |
17.7 |
|
Amortization of Intangibles |
1.5 |
2.6 |
3.6 |
4.6 |
- |
|
Current Tax |
4.7 |
0.0 |
0.2 |
6.4 |
2.3 |
|
Current Tax - Total |
4.7 |
0.0 |
0.2 |
6.4 |
2.3 |
|
Deferred Tax |
10.7 |
-8.3 |
-11.0 |
-0.8 |
1.8 |
|
Deferred Tax - Total |
10.7 |
-8.3 |
-11.0 |
-0.8 |
1.8 |
|
Income Tax - Total |
15.4 |
-8.3 |
-10.8 |
5.5 |
4.1 |
|
Service Cost |
0.2 |
0.2 |
0.2 |
0.2 |
- |
|
Interest Cost |
1.0 |
0.9 |
0.8 |
0.7 |
- |
|
Expected Return on Assets |
-0.2 |
-0.3 |
-0.3 |
-0.3 |
- |
|
Actuarial Gains and Losses |
0.6 |
-0.2 |
0.5 |
-0.1 |
- |
|
Prior Service Cost |
0.0 |
1.2 |
1.2 |
1.0 |
- |
|
Other Pension |
0.0 |
0.0 |
0.7 |
0.0 |
- |
|
Curtailments & Settlements |
0.0 |
0.0 |
0.0 |
0.2 |
- |
|
Domestic Pension Plan Expense |
1.6 |
1.7 |
3.2 |
1.7 |
- |
|
Defined Contribution Expense |
0.9 |
1.1 |
1.8 |
1.4 |
- |
|
Total Pension Expense |
2.5 |
2.8 |
5.0 |
3.1 |
- |
|
Dicount Rate |
4.00% |
5.00% |
5.00% |
5.50% |
- |
|
Expected Rate of Return |
4.00% |
4.50% |
4.50% |
4.50% |
- |
|
Compensation Rate |
2.00% |
2.88% |
2.88% |
2.88% |
- |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
0.683971 |
0.758351 |
|
Auditor |
Deloitte LLP |
Deloitte LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Raw Materials |
67.9 |
60.3 |
70.5 |
70.6 |
59.8 |
|
Work in Progress |
13.6 |
14.7 |
12.1 |
20.6 |
20.8 |
|
Finished Goods |
18.2 |
15.3 |
24.3 |
18.4 |
20.5 |
|
Advance Payments |
0.1 |
0.2 |
0.4 |
0.2 |
0.3 |
|
Stock Depreciation |
-35.7 |
-34.0 |
-25.4 |
-22.0 |
-20.8 |
|
Trade Debtors |
75.8 |
47.1 |
47.8 |
90.8 |
91.3 |
|
VAT Receivables |
4.4 |
3.2 |
1.9 |
- |
- |
|
Deferred Charges |
0.6 |
1.0 |
7.1 |
- |
- |
|
Derivatives |
- |
- |
0.3 |
- |
- |
|
Other Receivable |
24.1 |
15.4 |
1.9 |
8.4 |
19.1 |
|
Cash at Bank |
37.2 |
27.0 |
18.2 |
27.6 |
21.7 |
|
Total Current Assets |
206.1 |
150.3 |
159.0 |
214.7 |
212.8 |
|
|
|
|
|
|
|
|
Formation Exp. |
12.4 |
11.9 |
10.2 |
7.9 |
6.9 |
|
Concess./Patents |
24.0 |
25.5 |
24.6 |
24.2 |
21.2 |
|
Client /Trade Fund |
0.2 |
0.2 |
0.2 |
0.2 |
- |
|
Amortisation |
-28.7 |
-29.0 |
-25.7 |
-23.4 |
-16.7 |
|
Goodwill |
0.0 |
0.0 |
2.1 |
2.2 |
2.5 |
|
Goodwill Amortisation |
- |
- |
0.0 |
0.0 |
-0.6 |
|
Land/Building |
46.4 |
48.3 |
45.8 |
62.5 |
52.4 |
|
Plant/Machinery |
237.1 |
251.0 |
262.8 |
266.6 |
233.8 |
|
Furn./Vehicles |
14.7 |
15.4 |
15.6 |
15.4 |
14.5 |
|
Other Tangible |
2.7 |
2.5 |
2.5 |
2.2 |
1.6 |
|
Assets/Const. |
0.1 |
0.3 |
6.8 |
0.7 |
0.5 |
|
Depreciation |
-226.9 |
-232.7 |
-253.4 |
-259.5 |
-224.7 |
|
Inv. Shares/Oth. |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Amounts Rcvbl. |
5.0 |
4.7 |
10.0 |
15.3 |
29.3 |
|
Deferred Tax Receivable |
2.9 |
11.7 |
4.6 |
3.0 |
3.7 |
|
Adjustment |
- |
- |
- |
0.0 |
- |
|
Total Assets |
296.0 |
260.1 |
265.1 |
332.2 |
337.4 |
|
|
|
|
|
|
|
|
Curr. Ptn. LT |
2.8 |
6.8 |
11.7 |
21.6 |
27.8 |
|
Leases |
2.4 |
4.1 |
2.9 |
2.7 |
2.8 |
|
Credit Inst. |
0.3 |
10.0 |
36.9 |
0.0 |
1.0 |
|
Provisions |
7.7 |
10.6 |
4.2 |
6.2 |
4.6 |
|
Trade Debts/Supp |
66.3 |
62.8 |
44.5 |
78.0 |
80.4 |
|
Taxes |
3.7 |
1.5 |
1.4 |
2.0 |
3.3 |
|
Pensions |
1.7 |
1.9 |
2.1 |
1.4 |
1.4 |
|
Advances Rec. |
24.5 |
18.4 |
11.8 |
- |
- |
|
Remuneration & Social Security |
19.0 |
17.7 |
20.1 |
- |
- |
|
Accruals |
4.4 |
3.1 |
- |
- |
- |
|
Other Liabilities |
0.3 |
1.6 |
3.8 |
40.3 |
40.6 |
|
Total Current Liabilities |
133.0 |
138.4 |
139.3 |
152.2 |
161.8 |
|
|
|
|
|
|
|
|
Leases |
9.9 |
13.1 |
6.7 |
15.1 |
15.3 |
|
Credit Inst. |
1.6 |
3.0 |
6.7 |
15.3 |
28.7 |
|
Other Debts |
- |
- |
- |
- |
0.0 |
|
Total Long Term Debt |
11.4 |
16.2 |
13.4 |
30.4 |
44.1 |
|
|
|
|
|
|
|
|
Pension Prov. |
13.5 |
15.3 |
9.3 |
10.0 |
8.6 |
|
Other Provisions |
2.4 |
2.6 |
2.5 |
2.2 |
1.9 |
|
Deferred Tax |
3.0 |
0.2 |
2.1 |
11.5 |
12.0 |
|
Minority Ints. |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Liabilities |
163.3 |
172.7 |
166.6 |
206.2 |
228.3 |
|
|
|
|
|
|
|
|
Capital |
29.1 |
31.2 |
10.3 |
10.8 |
9.8 |
|
Share Premium |
2.0 |
2.2 |
1.9 |
1.9 |
1.8 |
|
Consol. Res. |
98.8 |
55.2 |
86.1 |
115.5 |
98.0 |
|
Trans. Diff. |
2.7 |
-1.1 |
0.2 |
-2.3 |
-0.5 |
|
Total Equity |
132.7 |
87.4 |
98.4 |
125.9 |
109.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
296.0 |
260.1 |
265.1 |
332.2 |
337.4 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
17.7 |
17.7 |
10.9 |
10.9 |
10.9 |
|
Total Common Shares Outstanding |
17.7 |
17.7 |
10.9 |
10.9 |
10.9 |
|
Deferred Revenue - Current |
24.5 |
18.4 |
11.8 |
- |
- |
|
Accumulated Goodwill Amortisation |
- |
- |
0.0 |
0.0 |
0.6 |
|
Accumulated Intangible Amortisation |
28.7 |
29.0 |
25.7 |
23.4 |
16.7 |
|
Full-Time Employees |
2,008 |
2,112 |
2,363 |
2,342 |
2,320 |
|
LT Debt Maturing Within 1 Year |
2.8 |
6.7 |
14.6 |
24.4 |
27.8 |
|
LT Debt Maturing Within 5 Years |
1.6 |
3.0 |
11.7 |
21.7 |
28.7 |
|
LT Debt Maturing After 5 Years |
0.0 |
0.0 |
1.8 |
8.6 |
0.0 |
|
Total Long Term Debt, Supplemental |
4.3 |
9.7 |
28.1 |
54.8 |
56.5 |
|
Leases Maturing Within 1Year |
2.4 |
4.1 |
2.9 |
2.7 |
2.8 |
|
Leases Maturing Within 5 Years |
9.9 |
9.2 |
4.9 |
6.4 |
6.9 |
|
Leases Maturing After 5 Years |
0.0 |
3.9 |
1.8 |
8.6 |
8.4 |
|
Total Capital Leases |
12.3 |
17.3 |
9.6 |
17.8 |
18.1 |
|
Op. Lease Maturing Within 1 Year |
2.4 |
4.3 |
4.9 |
4.1 |
3.5 |
|
Op. Lease Maturing Within 5 Years |
1.4 |
5.2 |
8.2 |
7.0 |
6.4 |
|
Remaining Maturities |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Total Operating Leases |
3.8 |
9.5 |
13.1 |
11.1 |
10.0 |
|
Pension Obligation |
2.9 |
7.3 |
7.3 |
7.1 |
- |
|
Plan Assets |
2.8 |
6.7 |
6.7 |
6.0 |
- |
|
Funded Status |
-0.1 |
-0.6 |
-0.6 |
-1.2 |
- |
|
Accumulated Obligation |
14.7 |
10.9 |
10.7 |
9.3 |
- |
|
Unfunded Plan Obligation |
0.0 |
0.9 |
0.9 |
0.3 |
- |
|
Total Funded Status |
-0.1 |
-1.5 |
-1.6 |
-1.5 |
- |
|
Discount Rate |
4.00% |
5.00% |
5.00% |
5.50% |
- |
|
Expected Rate of Return |
4.00% |
4.50% |
4.50% |
4.50% |
- |
|
Compensation Rate |
2.00% |
2.88% |
2.88% |
2.88% |
- |
|
Net Domestic Pension Assets |
- |
- |
10.4 |
10.2 |
- |
|
Net Assets Recognized on Balance Sheet |
- |
- |
10.4 |
10.2 |
- |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
Deloitte LLP |
Deloitte LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Profit |
61.9 |
-39.2 |
-31.1 |
16.6 |
12.4 |
|
Depreciation |
12.2 |
15.7 |
16.8 |
17.5 |
17.7 |
|
Revaluation Of Assets |
2.7 |
7.1 |
2.4 |
-0.4 |
0.9 |
|
Provisions |
-3.0 |
11.3 |
-0.8 |
1.5 |
0.7 |
|
Discontinued Operations |
- |
- |
- |
- |
0.0 |
|
Other Working Cap. |
- |
- |
6.8 |
23.8 |
19.8 |
|
Other/Exposures |
-0.5 |
5.4 |
- |
- |
- |
|
Inventories |
-14.9 |
19.5 |
- |
- |
- |
|
ST Receivables |
-30.1 |
-3.4 |
- |
- |
- |
|
Other Receivables |
-10.5 |
-1.9 |
- |
- |
- |
|
Payables |
7.5 |
16.3 |
- |
- |
- |
|
Other Liabilities |
9.9 |
4.0 |
- |
- |
- |
|
Taxes Payable |
-2.4 |
0.0 |
-0.2 |
-6.4 |
-4.1 |
|
Gain/Loss on Disposal of Assets |
0.4 |
0.0 |
-2.7 |
- |
- |
|
Extraord. Impairments on Assets |
0.3 |
2.1 |
0.0 |
0.0 |
1.3 |
|
Cash from Operating Activities |
33.4 |
36.9 |
-8.9 |
52.6 |
48.7 |
|
|
|
|
|
|
|
|
Interest Received |
1.4 |
1.1 |
2.9 |
4.9 |
3.2 |
|
Purchase Fixed Assets |
-4.9 |
-5.4 |
-12.4 |
-13.9 |
-12.0 |
|
Intangibles |
-1.4 |
-1.6 |
-4.3 |
-1.0 |
-1.8 |
|
Investments |
- |
- |
0.0 |
-0.9 |
- |
|
Sale of Intangibles |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Sale of Tangibles |
0.0 |
0.1 |
2.2 |
0.3 |
2.3 |
|
Cash from Investing Activities |
-4.9 |
-5.8 |
-11.6 |
-10.5 |
-8.3 |
|
|
|
|
|
|
|
|
Capital Increase |
0.0 |
19.8 |
- |
- |
- |
|
Interest Paid |
-1.5 |
-2.1 |
-5.3 |
-5.9 |
-4.0 |
|
Dividend |
0.0 |
0.0 |
-2.2 |
-2.6 |
0.0 |
|
Export Finance |
-4.6 |
-7.5 |
-14.3 |
-20.4 |
-18.9 |
|
Loans Issued |
0.3 |
0.6 |
38.8 |
0.0 |
0.4 |
|
Loans Repaid |
-13.3 |
-32.4 |
-6.4 |
-7.7 |
-18.0 |
|
Cash from Financing Activities |
-19.0 |
-21.6 |
10.6 |
-36.6 |
-40.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
2.4 |
-1.5 |
1.4 |
-2.1 |
-1.9 |
|
Net Change in Cash |
11.8 |
8.0 |
-8.5 |
3.3 |
-2.1 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
25.0 |
18.2 |
27.6 |
22.6 |
22.8 |
|
Net Cash - Ending Balance |
36.8 |
26.2 |
19.2 |
25.9 |
20.7 |
|
Cash Interest Paid |
1.5 |
2.1 |
5.3 |
5.9 |
4.0 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
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|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
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|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
Deloitte LLP |
Deloitte LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
524.1 |
348.0 |
413.4 |
565.3 |
514.8 |
|
Revenue |
524.1 |
348.0 |
413.4 |
565.3 |
514.8 |
|
Total Revenue |
524.1 |
348.0 |
413.4 |
565.3 |
514.8 |
|
|
|
|
|
|
|
|
Cost of Revenue |
415.6 |
315.2 |
379.5 |
469.2 |
433.1 |
|
Cost of Revenue, Total |
415.6 |
315.2 |
379.5 |
469.2 |
433.1 |
|
Gross Profit |
108.5 |
32.9 |
33.8 |
96.1 |
81.7 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
45.5 |
52.8 |
67.8 |
79.4 |
70.4 |
|
Total Selling/General/Administrative Expenses |
45.5 |
52.8 |
67.8 |
79.4 |
70.4 |
|
Restructuring Charge |
0.1 |
16.7 |
- |
- |
- |
|
Loss (Gain) on Sale of Assets - Operating |
0.4 |
- |
- |
- |
- |
|
Other Unusual Expense (Income) |
- |
2.1 |
- |
- |
- |
|
Unusual Expense (Income) |
0.6 |
18.8 |
- |
- |
- |
|
Other Operating Expense |
1.4 |
0.5 |
0.1 |
0.3 |
3.6 |
|
Other, Net |
-0.8 |
-0.1 |
-2.9 |
-0.2 |
-4.6 |
|
Other Operating Expenses, Total |
0.6 |
0.5 |
-2.8 |
0.1 |
-1.0 |
|
Total Operating Expense |
462.3 |
387.2 |
444.5 |
548.7 |
502.4 |
|
|
|
|
|
|
|
|
Operating Income |
61.9 |
-39.2 |
-31.1 |
16.6 |
12.4 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-1.5 |
-2.7 |
-5.3 |
-5.9 |
-4.0 |
|
Interest Expense, Net Non-Operating |
-1.5 |
-2.7 |
-5.3 |
-5.9 |
-4.0 |
|
Interest Income -
Non-Operating |
1.4 |
1.8 |
2.9 |
4.9 |
3.2 |
|
Interest/Investment Income - Non-Operating |
1.4 |
1.8 |
2.9 |
4.9 |
3.2 |
|
Interest Income (Expense) - Net Non-Operating Total |
-0.1 |
-1.0 |
-2.4 |
-0.9 |
-0.8 |
|
Other Non-Operating Income (Expense) |
0.3 |
-0.8 |
0.0 |
-1.2 |
-0.5 |
|
Other, Net |
0.3 |
-0.8 |
0.0 |
-1.2 |
-0.5 |
|
Income Before Tax |
62.1 |
-41.0 |
-33.5 |
14.5 |
11.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
15.4 |
-8.3 |
-10.8 |
5.5 |
4.1 |
|
Income After Tax |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Income Before Extraord Items |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
Net Income |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
17.7 |
11.6 |
10.9 |
10.9 |
10.9 |
|
Basic EPS Excl Extraord Items |
2.64 |
-2.82 |
-2.09 |
0.82 |
0.64 |
|
Basic/Primary EPS Incl Extraord Items |
2.64 |
-2.82 |
-2.09 |
0.82 |
0.64 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
- |
- |
|
Diluted Net Income |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
Diluted Weighted Average Shares |
17.7 |
11.6 |
10.9 |
10.9 |
10.9 |
|
Diluted EPS Excl Extraord Items |
2.64 |
-2.82 |
-2.09 |
0.82 |
0.64 |
|
Diluted EPS Incl Extraord Items |
2.64 |
-2.82 |
-2.09 |
0.82 |
0.64 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.19 |
0.22 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
2.0 |
- |
|
Interest Expense, Supplemental |
1.5 |
2.7 |
5.3 |
5.9 |
4.0 |
|
Depreciation, Supplemental |
10.6 |
13.1 |
13.1 |
12.9 |
17.7 |
|
Total Special Items |
0.6 |
18.8 |
- |
- |
- |
|
Normalized Income Before Tax |
62.7 |
-22.2 |
-33.5 |
14.5 |
11.0 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.1 |
6.6 |
- |
- |
- |
|
Inc Tax Ex Impact of Sp Items |
15.6 |
-1.7 |
-10.8 |
5.5 |
4.1 |
|
Normalized Income After Tax |
47.1 |
-20.5 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
47.1 |
-20.5 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.66 |
-1.77 |
-2.09 |
0.82 |
0.64 |
|
Diluted Normalized EPS |
2.66 |
-1.77 |
-2.09 |
0.82 |
0.64 |
|
Amort of Intangibles, Supplemental |
1.5 |
2.6 |
3.6 |
4.6 |
- |
|
Normalized EBIT |
62.5 |
-20.4 |
-31.1 |
16.6 |
12.4 |
|
Normalized EBITDA |
74.6 |
-4.7 |
-14.4 |
34.1 |
30.1 |
|
Current Tax - Total |
4.7 |
0.0 |
0.2 |
6.4 |
2.3 |
|
Current Tax - Total |
4.7 |
0.0 |
0.2 |
6.4 |
2.3 |
|
Deferred Tax - Total |
10.7 |
-8.3 |
-11.0 |
-0.8 |
1.8 |
|
Deferred Tax - Total |
10.7 |
-8.3 |
-11.0 |
-0.8 |
1.8 |
|
Income Tax - Total |
15.4 |
-8.3 |
-10.8 |
5.5 |
4.1 |
|
Interest Cost - Domestic |
1.0 |
0.9 |
0.8 |
0.7 |
- |
|
Service Cost - Domestic |
0.2 |
0.2 |
0.2 |
0.2 |
- |
|
Prior Service Cost - Domestic |
0.0 |
1.2 |
1.2 |
1.0 |
- |
|
Expected Return on Assets - Domestic |
-0.2 |
-0.3 |
-0.3 |
-0.3 |
- |
|
Actuarial Gains and Losses - Domestic |
0.6 |
-0.2 |
0.5 |
-0.1 |
- |
|
Curtailments & Settlements - Domestic |
0.0 |
0.0 |
0.0 |
0.2 |
- |
|
Other Pension, Net - Domestic |
0.0 |
0.0 |
0.7 |
0.0 |
- |
|
Domestic Pension Plan Expense |
1.6 |
1.7 |
3.2 |
1.7 |
- |
|
Defined Contribution Expense - Domestic |
0.9 |
1.1 |
1.8 |
1.4 |
- |
|
Total Pension Expense |
2.5 |
2.8 |
5.0 |
3.1 |
- |
|
Discount Rate - Domestic |
4.00% |
5.00% |
5.00% |
5.50% |
- |
|
Expected Rate of Return - Domestic |
4.00% |
4.50% |
4.50% |
4.50% |
- |
|
Compensation Rate - Domestic |
2.00% |
2.88% |
2.88% |
2.88% |
- |
|
Total Plan Interest Cost |
1.0 |
0.9 |
0.8 |
0.7 |
- |
|
Total Plan Service Cost |
0.2 |
0.2 |
0.2 |
0.2 |
- |
|
Total Plan Expected Return |
-0.2 |
-0.3 |
-0.3 |
-0.3 |
- |
|
Total Plan Other Expense |
0.0 |
0.0 |
0.7 |
0.0 |
- |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
30-Jun-2011 |
31-Dec-2010 |
30-Jun-2010 |
|
Period Length |
6 Months |
6 Months |
6 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.713558 |
0.75577 |
0.754409 |
|
|
|
|
|
|
Net Sales |
364.5 |
285.9 |
238.2 |
|
Revenue |
364.5 |
285.9 |
238.2 |
|
Total Revenue |
364.5 |
285.9 |
238.2 |
|
|
|
|
|
|
Cost of Revenue |
276.7 |
229.4 |
186.2 |
|
Cost of Revenue, Total |
276.7 |
229.4 |
186.2 |
|
Gross Profit |
87.8 |
56.5 |
52.0 |
|
|
|
|
|
|
Selling/General/Administrative Expense |
22.4 |
23.0 |
22.5 |
|
Total Selling/General/Administrative Expenses |
22.4 |
23.0 |
22.5 |
|
Other Operating Expense |
0.1 |
0.1 |
1.8 |
|
Other, Net |
-0.1 |
-0.7 |
-0.1 |
|
Other Operating Expenses, Total |
0.0 |
-0.6 |
1.7 |
|
Total Operating Expense |
299.1 |
251.9 |
210.4 |
|
|
|
|
|
|
Operating Income |
65.4 |
34.1 |
27.8 |
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-0.5 |
-0.7 |
-0.8 |
|
Interest Expense, Net Non-Operating |
-0.5 |
-0.7 |
-0.8 |
|
Interest Income -
Non-Operating |
0.7 |
0.8 |
0.7 |
|
Interest/Investment Income - Non-Operating |
0.7 |
0.8 |
0.7 |
|
Interest Income (Expense) - Net Non-Operating Total |
0.3 |
0.1 |
-0.1 |
|
Other Non-Operating Income (Expense) |
0.0 |
0.0 |
0.2 |
|
Other, Net |
0.0 |
0.0 |
0.2 |
|
Income Before Tax |
65.7 |
34.2 |
27.9 |
|
|
|
|
|
|
Total Income Tax |
17.2 |
8.6 |
6.8 |
|
Income After Tax |
48.5 |
25.6 |
21.1 |
|
|
|
|
|
|
Net Income Before Extraord Items |
48.5 |
25.6 |
21.1 |
|
Net Income |
48.5 |
25.6 |
21.1 |
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
48.5 |
25.6 |
21.1 |
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
48.5 |
25.6 |
21.1 |
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
17.7 |
17.7 |
17.7 |
|
Basic EPS Excl Extraord Items |
2.74 |
1.44 |
1.19 |
|
Basic/Primary EPS Incl Extraord Items |
2.74 |
1.44 |
1.19 |
|
Dilution Adjustment |
- |
- |
0.0 |
|
Diluted Net Income |
48.5 |
25.6 |
21.1 |
|
Diluted Weighted Average Shares |
17.7 |
17.7 |
17.7 |
|
Diluted EPS Excl Extraord Items |
2.74 |
1.44 |
1.19 |
|
Diluted EPS Incl Extraord Items |
2.74 |
1.44 |
1.19 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
0.5 |
0.7 |
0.8 |
|
Depreciation, Supplemental |
6.2 |
6.1 |
6.0 |
|
Normalized Income Before Tax |
65.7 |
34.2 |
27.9 |
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
17.2 |
8.6 |
6.8 |
|
Normalized Income After Tax |
48.5 |
25.6 |
21.1 |
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
48.5 |
25.6 |
21.1 |
|
|
|
|
|
|
Basic Normalized EPS |
2.74 |
1.44 |
1.19 |
|
Diluted Normalized EPS |
2.74 |
1.44 |
1.19 |
|
Normalized EBIT |
65.4 |
34.1 |
27.8 |
|
Normalized EBITDA |
71.6 |
40.2 |
33.9 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
0.683971 |
0.758351 |
|
Auditor |
Deloitte LLP |
Deloitte LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
37.2 |
27.0 |
18.2 |
27.6 |
21.7 |
|
Cash and Short Term Investments |
37.2 |
27.0 |
18.2 |
27.6 |
21.7 |
|
Trade Accounts Receivable - Net |
75.8 |
47.1 |
47.8 |
90.8 |
91.3 |
|
Other Receivables |
28.5 |
18.7 |
3.8 |
8.4 |
19.1 |
|
Total Receivables, Net |
104.3 |
65.7 |
51.6 |
99.2 |
110.4 |
|
Inventories - Finished Goods |
18.2 |
15.3 |
24.3 |
18.4 |
20.5 |
|
Inventories - Work In Progress |
13.6 |
14.7 |
12.1 |
20.6 |
20.8 |
|
Inventories - Raw Materials |
67.9 |
60.3 |
70.5 |
70.6 |
59.8 |
|
Inventories - Other |
-35.6 |
-33.8 |
-25.1 |
-21.8 |
-20.5 |
|
Total Inventory |
64.0 |
56.6 |
81.8 |
87.8 |
80.7 |
|
Prepaid Expenses |
0.6 |
1.0 |
7.1 |
- |
- |
|
Other Current Assets |
- |
- |
0.3 |
- |
- |
|
Other Current Assets, Total |
- |
- |
0.3 |
- |
- |
|
Total Current Assets |
206.1 |
150.3 |
159.0 |
214.7 |
212.8 |
|
|
|
|
|
|
|
|
Land/Improvements |
46.4 |
48.3 |
45.8 |
62.5 |
52.4 |
|
Machinery/Equipment |
251.7 |
266.4 |
278.4 |
282.0 |
248.3 |
|
Construction in
Progress |
0.1 |
0.3 |
6.8 |
0.7 |
0.5 |
|
Other
Property/Plant/Equipment |
2.7 |
2.5 |
2.5 |
2.2 |
1.6 |
|
Property/Plant/Equipment - Gross |
301.0 |
317.5 |
333.5 |
347.4 |
302.9 |
|
Accumulated Depreciation |
-226.9 |
-232.7 |
-253.4 |
-259.5 |
-224.7 |
|
Property/Plant/Equipment - Net |
74.1 |
84.7 |
80.1 |
87.9 |
78.2 |
|
Goodwill - Gross |
0.0 |
0.0 |
2.1 |
2.2 |
2.5 |
|
Accumulated Goodwill Amortization |
- |
- |
0.0 |
0.0 |
-0.6 |
|
Goodwill, Net |
0.0 |
0.0 |
2.1 |
2.2 |
2.0 |
|
Intangibles - Gross |
36.4 |
37.4 |
34.8 |
32.2 |
28.0 |
|
Accumulated Intangible Amortization |
-28.7 |
-29.0 |
-25.7 |
-23.4 |
-16.7 |
|
Intangibles, Net |
7.8 |
8.4 |
9.1 |
8.8 |
11.4 |
|
LT Investments - Other |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Long Term Investments |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Note Receivable - Long Term |
5.0 |
4.7 |
10.0 |
15.3 |
29.3 |
|
Deferred Income Tax - Long Term Asset |
2.9 |
11.7 |
4.6 |
3.0 |
3.7 |
|
Other Long Term Assets |
0.2 |
0.2 |
0.2 |
0.2 |
- |
|
Other Long Term Assets, Total |
3.0 |
11.8 |
4.7 |
3.2 |
3.7 |
|
Total Assets |
296.0 |
260.1 |
265.1 |
332.2 |
337.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
66.3 |
62.8 |
44.5 |
78.0 |
80.4 |
|
Accrued Expenses |
25.1 |
22.7 |
22.2 |
1.4 |
1.4 |
|
Notes Payable/Short Term Debt |
0.3 |
10.0 |
36.9 |
0.0 |
1.0 |
|
Current Portion - Long Term Debt/Capital Leases |
5.2 |
10.9 |
14.6 |
24.4 |
30.5 |
|
Customer Advances |
24.5 |
18.4 |
11.8 |
- |
- |
|
Income Taxes Payable |
3.7 |
1.5 |
1.4 |
2.0 |
3.3 |
|
Other Current Liabilities |
8.0 |
12.2 |
8.0 |
46.5 |
45.2 |
|
Other Current liabilities, Total |
36.2 |
32.1 |
21.1 |
48.5 |
48.5 |
|
Total Current Liabilities |
133.0 |
138.4 |
139.3 |
152.2 |
161.8 |
|
|
|
|
|
|
|
|
Long Term Debt |
1.6 |
3.0 |
6.7 |
15.3 |
28.7 |
|
Capital Lease Obligations |
9.9 |
13.1 |
6.7 |
15.1 |
15.3 |
|
Total Long Term Debt |
11.4 |
16.2 |
13.4 |
30.4 |
44.1 |
|
Total Debt |
16.9 |
37.1 |
65.0 |
54.8 |
75.6 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
3.0 |
0.2 |
2.1 |
11.5 |
12.0 |
|
Deferred Income Tax |
3.0 |
0.2 |
2.1 |
11.5 |
12.0 |
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Reserves |
2.4 |
2.6 |
2.5 |
2.2 |
1.9 |
|
Pension Benefits - Underfunded |
13.5 |
15.3 |
9.3 |
10.0 |
8.6 |
|
Other Liabilities, Total |
15.9 |
17.8 |
11.7 |
12.2 |
10.5 |
|
Total Liabilities |
163.3 |
172.7 |
166.6 |
206.2 |
228.3 |
|
|
|
|
|
|
|
|
Common Stock |
29.1 |
31.2 |
10.3 |
10.8 |
9.8 |
|
Common Stock |
29.1 |
31.2 |
10.3 |
10.8 |
9.8 |
|
Additional Paid-In Capital |
2.0 |
2.2 |
1.9 |
1.9 |
1.8 |
|
Retained Earnings (Accumulated Deficit) |
98.8 |
55.2 |
86.1 |
115.5 |
98.0 |
|
Translation Adjustment |
2.7 |
-1.1 |
0.2 |
-2.3 |
-0.5 |
|
Other Equity, Total |
2.7 |
-1.1 |
0.2 |
-2.3 |
-0.5 |
|
Total Equity |
132.7 |
87.4 |
98.4 |
125.9 |
109.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
296.0 |
260.1 |
265.1 |
332.2 |
337.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
17.7 |
17.7 |
10.9 |
10.9 |
10.9 |
|
Total Common Shares Outstanding |
17.7 |
17.7 |
10.9 |
10.9 |
10.9 |
|
Employees |
2,008 |
2,112 |
2,363 |
2,342 |
2,320 |
|
Accumulated Goodwill Amortization Suppl. |
- |
- |
0.0 |
0.0 |
0.6 |
|
Accumulated Intangible Amort, Suppl. |
28.7 |
29.0 |
25.7 |
23.4 |
16.7 |
|
Deferred Revenue - Current |
24.5 |
18.4 |
11.8 |
- |
- |
|
Total Long Term Debt, Supplemental |
4.3 |
9.7 |
28.1 |
54.8 |
56.5 |
|
Long Term Debt Maturing within 1 Year |
2.8 |
6.7 |
14.6 |
24.4 |
27.8 |
|
Long Term Debt Maturing in Year 2 |
0.4 |
0.8 |
2.9 |
5.4 |
7.2 |
|
Long Term Debt Maturing in Year 3 |
0.4 |
0.8 |
2.9 |
5.4 |
7.2 |
|
Long Term Debt Maturing in Year 4 |
0.4 |
0.8 |
2.9 |
5.4 |
7.2 |
|
Long Term Debt Maturing in Year 5 |
0.4 |
0.8 |
2.9 |
5.4 |
7.2 |
|
Long Term Debt Maturing in 2-3 Years |
0.8 |
1.5 |
5.8 |
10.9 |
14.4 |
|
Long Term Debt Maturing in 4-5 Years |
0.8 |
1.5 |
5.8 |
10.9 |
14.4 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.0 |
1.8 |
8.6 |
0.0 |
|
Total Capital Leases, Supplemental |
12.3 |
17.3 |
9.6 |
17.8 |
18.1 |
|
Capital Lease Payments Due in Year 1 |
2.4 |
4.1 |
2.9 |
2.7 |
2.8 |
|
Capital Lease Payments Due in Year 2 |
2.5 |
2.3 |
1.2 |
1.6 |
1.7 |
|
Capital Lease Payments Due in Year 3 |
2.5 |
2.3 |
1.2 |
1.6 |
1.7 |
|
Capital Lease Payments Due in Year 4 |
2.5 |
2.3 |
1.2 |
1.6 |
1.7 |
|
Capital Lease Payments Due in Year 5 |
2.5 |
2.3 |
1.2 |
1.6 |
1.7 |
|
Capital Lease Payments Due in 2-3 Years |
4.9 |
4.6 |
2.5 |
3.2 |
3.5 |
|
Capital Lease Payments Due in 4-5 Years |
4.9 |
4.6 |
2.5 |
3.2 |
3.5 |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.0 |
3.9 |
1.8 |
8.6 |
8.4 |
|
Total Operating Leases, Supplemental |
3.8 |
9.5 |
13.1 |
11.1 |
10.0 |
|
Operating Lease Payments Due in Year 1 |
2.4 |
4.3 |
4.9 |
4.1 |
3.5 |
|
Operating Lease Payments Due in Year 2 |
0.4 |
1.3 |
2.0 |
1.8 |
1.6 |
|
Operating Lease Payments Due in Year 3 |
0.4 |
1.3 |
2.0 |
1.8 |
1.6 |
|
Operating Lease Payments Due in Year 4 |
0.4 |
1.3 |
2.0 |
1.8 |
1.6 |
|
Operating Lease Payments Due in Year 5 |
0.4 |
1.3 |
2.0 |
1.8 |
1.6 |
|
Operating Lease Pymts. Due in 2-3 Years |
0.7 |
2.6 |
4.1 |
3.5 |
3.2 |
|
Operating Lease Pymts. Due in 4-5 Years |
0.7 |
2.6 |
4.1 |
3.5 |
3.2 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Pension Obligation - Domestic |
2.9 |
7.3 |
7.3 |
7.1 |
- |
|
Plan Assets - Domestic |
2.8 |
6.7 |
6.7 |
6.0 |
- |
|
Funded Status - Domestic |
-0.1 |
-0.6 |
-0.6 |
-1.2 |
- |
|
Accumulated Obligation - Domestic |
14.7 |
10.9 |
10.7 |
9.3 |
- |
|
Unfunded Plan Obligations |
0.0 |
0.9 |
0.9 |
0.3 |
- |
|
Total Funded Status |
-0.1 |
-1.5 |
-1.6 |
-1.5 |
- |
|
Discount Rate - Domestic |
4.00% |
5.00% |
5.00% |
5.50% |
- |
|
Expected Rate of Return - Domestic |
4.00% |
4.50% |
4.50% |
4.50% |
- |
|
Compensation Rate - Domestic |
2.00% |
2.88% |
2.88% |
2.88% |
- |
|
Net Domestic Pension Assets |
- |
- |
10.4 |
10.2 |
- |
|
Net Assets Recognized on Balance Sheet |
- |
- |
10.4 |
10.2 |
- |
|
Total Plan Obligations |
2.9 |
8.2 |
8.2 |
7.4 |
- |
|
Total Plan Assets |
2.8 |
6.7 |
6.7 |
6.0 |
- |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
30-Jun-2011 |
31-Dec-2010 |
30-Jun-2010 |
31-Dec-2009 |
30-Jun-2009 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.689727 |
0.745406 |
0.816393 |
0.696986 |
0.712936 |
|
|
|
|
|
|
|
|
Cash & Equivalents |
75.3 |
37.2 |
55.7 |
27.0 |
23.1 |
|
Cash and Short Term Investments |
75.3 |
37.2 |
55.7 |
27.0 |
23.1 |
|
Trade Accounts Receivable - Net |
117.2 |
75.8 |
62.7 |
47.1 |
43.4 |
|
Other Receivables |
21.0 |
29.1 |
4.5 |
19.7 |
8.8 |
|
Total Receivables, Net |
138.3 |
104.8 |
67.2 |
66.7 |
52.2 |
|
Total Inventory |
75.8 |
64.0 |
60.1 |
56.6 |
69.9 |
|
Total Current Assets |
289.4 |
206.1 |
183.1 |
150.3 |
145.3 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
77.3 |
74.1 |
71.1 |
84.7 |
77.0 |
|
Goodwill, Net |
0.0 |
0.0 |
0.0 |
0.0 |
2.1 |
|
Intangibles, Net |
8.3 |
7.9 |
7.3 |
8.5 |
9.2 |
|
LT Investments - Other |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Long Term Investments |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Note Receivable - Long Term |
1.7 |
5.0 |
1.5 |
4.7 |
6.5 |
|
Deferred Income Tax - Long Term Asset |
3.0 |
2.9 |
6.0 |
11.7 |
6.3 |
|
Other Long Term Assets, Total |
3.0 |
2.9 |
6.0 |
11.7 |
6.3 |
|
Total Assets |
379.8 |
296.0 |
269.1 |
260.1 |
246.5 |
|
|
|
|
|
|
|
|
Accounts Payable |
79.6 |
66.3 |
68.2 |
62.8 |
61.5 |
|
Accrued Expenses |
1.9 |
1.7 |
1.6 |
1.9 |
1.9 |
|
Notes Payable/Short Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
4.3 |
5.5 |
7.0 |
20.9 |
38.4 |
|
Income Taxes Payable |
9.7 |
3.7 |
2.8 |
1.5 |
1.6 |
|
Other Current Liabilities |
56.5 |
55.9 |
62.7 |
51.4 |
48.7 |
|
Other Current liabilities, Total |
66.2 |
59.6 |
65.5 |
52.9 |
50.3 |
|
Total Current Liabilities |
152.0 |
133.0 |
142.4 |
138.4 |
152.1 |
|
|
|
|
|
|
|
|
Long Term Debt |
1.0 |
1.6 |
1.5 |
3.0 |
4.8 |
|
Capital Lease Obligations |
9.5 |
9.9 |
10.0 |
13.1 |
5.3 |
|
Total Long Term Debt |
10.5 |
11.4 |
11.5 |
16.2 |
10.1 |
|
Total Debt |
14.9 |
16.9 |
18.5 |
37.1 |
48.5 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
11.4 |
3.0 |
0.3 |
0.2 |
0.3 |
|
Deferred Income Tax |
11.4 |
3.0 |
0.3 |
0.2 |
0.3 |
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Reserves |
2.5 |
2.4 |
2.2 |
2.6 |
2.5 |
|
Pension Benefits - Underfunded |
13.8 |
13.5 |
12.3 |
15.3 |
9.9 |
|
Other Liabilities, Total |
16.3 |
15.9 |
14.5 |
17.8 |
12.4 |
|
Total Liabilities |
190.2 |
163.3 |
168.6 |
172.7 |
174.9 |
|
|
|
|
|
|
|
|
Common Stock |
31.5 |
29.1 |
26.6 |
31.2 |
10.4 |
|
Common Stock |
31.5 |
29.1 |
26.6 |
31.2 |
10.4 |
|
Additional Paid-In Capital |
2.2 |
2.0 |
1.9 |
2.2 |
1.9 |
|
Retained Earnings (Accumulated Deficit) |
157.0 |
98.8 |
66.6 |
55.2 |
59.8 |
|
Translation Adjustment |
-1.1 |
2.7 |
5.4 |
-1.1 |
-0.4 |
|
Other Equity, Total |
-1.1 |
2.7 |
5.4 |
-1.1 |
-0.4 |
|
Total Equity |
189.6 |
132.7 |
100.5 |
87.4 |
71.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
379.8 |
296.0 |
269.1 |
260.1 |
246.5 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
17.7 |
17.7 |
17.7 |
17.7 |
10.9 |
|
Total Common Shares Outstanding |
17.7 |
17.7 |
17.7 |
17.7 |
10.9 |
|
Employees |
2,000 |
2,008 |
1,904 |
2,112 |
2,075 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
Deloitte LLP |
Deloitte LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
61.9 |
-39.2 |
-31.1 |
16.6 |
12.4 |
|
Depreciation |
12.2 |
15.7 |
16.8 |
17.5 |
17.7 |
|
Depreciation/Depletion |
12.2 |
15.7 |
16.8 |
17.5 |
17.7 |
|
Discontinued Operations |
- |
- |
- |
- |
0.0 |
|
Other Non-Cash Items |
0.0 |
20.4 |
1.6 |
1.0 |
2.9 |
|
Non-Cash Items |
0.0 |
20.4 |
1.6 |
1.0 |
2.9 |
|
Accounts Receivable |
-30.1 |
-3.4 |
- |
- |
- |
|
Inventories |
-14.9 |
19.5 |
- |
- |
- |
|
Other Assets |
-11.1 |
3.6 |
- |
- |
- |
|
Accounts Payable |
7.5 |
16.3 |
- |
- |
- |
|
Taxes Payable |
-2.4 |
0.0 |
-0.2 |
-6.4 |
-4.1 |
|
Other Liabilities |
9.9 |
4.0 |
- |
- |
- |
|
Other Assets & Liabilities, Net |
- |
- |
6.8 |
23.8 |
19.8 |
|
Other Operating Cash Flow |
0.4 |
0.0 |
-2.7 |
- |
- |
|
Changes in Working Capital |
-40.7 |
40.0 |
3.9 |
17.5 |
15.7 |
|
Cash from Operating Activities |
33.4 |
36.9 |
-8.9 |
52.6 |
48.7 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-4.9 |
-5.4 |
-12.4 |
-13.9 |
-12.0 |
|
Capital Expenditures |
-4.9 |
-5.4 |
-12.4 |
-13.9 |
-12.0 |
|
Sale of Fixed Assets |
0.0 |
0.1 |
2.2 |
0.3 |
2.3 |
|
Investment, Net |
- |
- |
0.0 |
-0.9 |
- |
|
Sale of Intangible Assets |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Intangible, Net |
-1.4 |
-1.6 |
-4.3 |
-1.0 |
-1.8 |
|
Other Investing Cash Flow |
1.4 |
1.1 |
2.9 |
4.9 |
3.2 |
|
Other Investing Cash Flow Items, Total |
0.0 |
-0.4 |
0.8 |
3.3 |
3.7 |
|
Cash from Investing Activities |
-4.9 |
-5.8 |
-11.6 |
-10.5 |
-8.3 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-1.5 |
-2.1 |
-5.3 |
-5.9 |
-4.0 |
|
Financing Cash Flow Items |
-1.5 |
-2.1 |
-5.3 |
-5.9 |
-4.0 |
|
Cash Dividends Paid - Common |
0.0 |
0.0 |
-2.2 |
-2.6 |
0.0 |
|
Total Cash Dividends Paid |
0.0 |
0.0 |
-2.2 |
-2.6 |
0.0 |
|
Common Stock, Net |
0.0 |
19.8 |
- |
- |
- |
|
Issuance (Retirement) of Stock, Net |
0.0 |
19.8 |
- |
- |
- |
|
Long Term Debt Issued |
0.3 |
0.6 |
38.8 |
0.0 |
0.4 |
|
Long Term Debt
Reduction |
-17.8 |
-39.9 |
-20.7 |
-28.1 |
-36.9 |
|
Long Term Debt, Net |
-17.6 |
-39.3 |
18.1 |
-28.1 |
-36.6 |
|
Issuance (Retirement) of Debt, Net |
-17.6 |
-39.3 |
18.1 |
-28.1 |
-36.6 |
|
Cash from Financing Activities |
-19.0 |
-21.6 |
10.6 |
-36.6 |
-40.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
2.4 |
-1.5 |
1.4 |
-2.1 |
-1.9 |
|
Net Change in Cash |
11.8 |
8.0 |
-8.5 |
3.3 |
-2.1 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
25.0 |
18.2 |
27.6 |
22.6 |
22.8 |
|
Net Cash - Ending Balance |
36.8 |
26.2 |
19.2 |
25.9 |
20.7 |
|
Cash Interest Paid |
1.5 |
2.1 |
5.3 |
5.9 |
4.0 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per share
items (actual units) |
|
|
|
|
|
|
|
|
|
30-Jun-2011 |
31-Dec-2010 |
30-Jun-2010 |
31-Dec-2009 |
30-Jun-2009 |
|
Period Length |
6 Months |
12 Months |
6 Months |
12 Months |
6 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.713558 |
0.755078 |
0.754409 |
0.719047 |
0.749639 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
65.4 |
61.9 |
27.8 |
-39.2 |
-27.9 |
|
Depreciation |
6.2 |
12.2 |
6.0 |
15.7 |
6.8 |
|
Depreciation/Depletion |
6.2 |
12.2 |
6.0 |
15.7 |
6.8 |
|
Unusual Items |
-1.3 |
3.4 |
1.3 |
9.1 |
2.0 |
|
Other Non-Cash Items |
-1.3 |
-3.0 |
-3.5 |
11.3 |
9.5 |
|
Non-Cash Items |
-2.6 |
0.4 |
-2.1 |
20.4 |
11.5 |
|
Taxes Payable |
-3.8 |
-2.4 |
-2.2 |
0.0 |
0.1 |
|
Other Assets & Liabilities, Net |
-21.1 |
-38.7 |
7.1 |
40.0 |
35.2 |
|
Changes in Working Capital |
-24.9 |
-41.1 |
4.9 |
40.0 |
35.3 |
|
Cash from Operating Activities |
44.1 |
33.4 |
36.6 |
36.9 |
25.7 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-3.9 |
-4.9 |
-2.2 |
-5.4 |
-2.1 |
|
Purchase/Acquisition of Intangibles |
-0.5 |
-1.4 |
-0.8 |
-1.6 |
-1.1 |
|
Capital Expenditures |
-4.4 |
-6.3 |
-2.9 |
-7.0 |
-3.3 |
|
Sale of Fixed Assets |
- |
0.0 |
0.0 |
0.1 |
0.0 |
|
Sale of Intangible Assets |
- |
- |
- |
0.0 |
- |
|
Other Investing Cash Flow |
0.7 |
1.4 |
0.7 |
1.1 |
0.2 |
|
Other Investing Cash Flow Items, Total |
0.7 |
1.4 |
0.7 |
1.3 |
0.2 |
|
Cash from Investing Activities |
-3.6 |
-4.9 |
-2.3 |
-5.8 |
-3.1 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-0.5 |
-1.5 |
-0.8 |
-2.1 |
-1.0 |
|
Financing Cash Flow Items |
-0.5 |
-1.5 |
-0.8 |
-2.1 |
-1.0 |
|
Cash Dividends Paid - Common |
- |
- |
- |
0.0 |
0.0 |
|
Total Cash Dividends Paid |
- |
- |
- |
0.0 |
0.0 |
|
Common Stock, Net |
- |
- |
- |
19.8 |
- |
|
Issuance (Retirement) of Stock, Net |
- |
- |
- |
19.8 |
- |
|
Long Term Debt Issued |
- |
0.3 |
0.0 |
0.6 |
1.7 |
|
Long Term Debt
Reduction |
-3.3 |
-17.8 |
-14.2 |
-39.9 |
-17.9 |
|
Long Term Debt, Net |
-3.3 |
-17.6 |
-14.2 |
-39.3 |
-16.3 |
|
Issuance (Retirement) of Debt, Net |
-3.3 |
-17.6 |
-14.2 |
-39.3 |
-16.3 |
|
Cash from Financing Activities |
-3.8 |
-19.0 |
-15.0 |
-21.6 |
-17.3 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-2.8 |
2.4 |
4.5 |
-1.5 |
-0.9 |
|
Net Change in Cash |
33.9 |
11.8 |
23.8 |
8.0 |
4.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
38.9 |
25.0 |
36.5 |
18.2 |
17.5 |
|
Net Cash - Ending Balance |
72.8 |
36.8 |
60.3 |
26.2 |
22.0 |
|
Cash Interest Paid |
0.5 |
1.5 |
0.8 |
2.1 |
1.0 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
Deloitte LLP |
Deloitte LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Turnover |
524.1 |
348.0 |
413.4 |
565.3 |
514.8 |
|
Total Revenue |
524.1 |
348.0 |
413.4 |
565.3 |
514.8 |
|
|
|
|
|
|
|
|
Cost of Sales |
415.6 |
315.2 |
379.5 |
469.2 |
433.1 |
|
Other Operating Income |
-0.8 |
-0.1 |
-2.9 |
-0.2 |
-4.6 |
|
General & Administrative Costs |
23.9 |
32.5 |
45.3 |
52.2 |
45.8 |
|
Sales and Marketing Costs |
21.6 |
20.3 |
22.6 |
27.3 |
24.5 |
|
Other Operating Expenses |
1.4 |
0.5 |
0.1 |
0.3 |
3.6 |
|
Restructuring Costs |
0.1 |
16.7 |
- |
- |
- |
|
Exceptional Losses |
- |
2.1 |
- |
- |
- |
|
Disposal Fixed Asset |
0.4 |
- |
- |
- |
- |
|
Total Operating Expense |
462.3 |
387.2 |
444.5 |
548.7 |
502.4 |
|
|
|
|
|
|
|
|
Interest Income |
1.4 |
1.8 |
2.9 |
4.9 |
3.2 |
|
Interest Expense |
-1.5 |
-2.7 |
-5.3 |
-5.9 |
-4.0 |
|
Other Fin. Income |
1.6 |
0.4 |
1.2 |
0.3 |
0.7 |
|
Other Fin. Charges |
-1.3 |
-1.2 |
-1.2 |
-1.5 |
-1.2 |
|
Net Income Before Taxes |
62.1 |
-41.0 |
-33.5 |
14.5 |
11.0 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
15.4 |
-8.3 |
-10.8 |
5.5 |
4.1 |
|
Net Income After Taxes |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Income Before Extra. Items |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
Net Income |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
17.7 |
11.6 |
10.9 |
10.9 |
10.9 |
|
Basic EPS Excluding ExtraOrdinary Items |
2.64 |
-2.82 |
-2.09 |
0.82 |
0.64 |
|
Basic EPS Including ExtraOrdinary Item |
2.64 |
-2.82 |
-2.09 |
0.82 |
0.64 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
- |
- |
|
Diluted Net Income |
46.7 |
-32.7 |
-22.7 |
8.9 |
7.0 |
|
Diluted Weighted Average Shares |
17.7 |
11.6 |
10.9 |
10.9 |
10.9 |
|
Diluted EPS Excluding ExtraOrd Items |
2.64 |
-2.82 |
-2.09 |
0.82 |
0.64 |
|
Diluted EPS Including ExtraOrd Items |
2.64 |
-2.82 |
-2.09 |
0.82 |
0.64 |
|
DPS-Common Stock |
0.00 |
0.00 |
0.00 |
0.19 |
0.22 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
2.0 |
- |
|
Normalized Income Before Taxes |
62.7 |
-22.2 |
-33.5 |
14.5 |
11.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
15.6 |
-1.7 |
-10.8 |
5.5 |
4.1 |
|
Normalized Income After Taxes |
47.1 |
-20.5 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
47.1 |
-20.5 |
-22.7 |
8.9 |
7.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.66 |
-1.77 |
-2.09 |
0.82 |
0.64 |
|
Diluted Normalized EPS |
2.66 |
-1.77 |
-2.09 |
0.82 |
0.64 |
|
Interest Expense |
1.5 |
2.7 |
5.3 |
5.9 |
4.0 |
|
Depreciation |
10.6 |
13.1 |
13.1 |
12.9 |
17.7 |
|
Amortization of Intangibles |
1.5 |
2.6 |
3.6 |
4.6 |
- |
|
Current Tax |
4.7 |
0.0 |
0.2 |
6.4 |
2.3 |
|
Current Tax - Total |
4.7 |
0.0 |
0.2 |
6.4 |
2.3 |
|
Deferred Tax |
10.7 |
-8.3 |
-11.0 |
-0.8 |
1.8 |
|
Deferred Tax - Total |
10.7 |
-8.3 |
-11.0 |
-0.8 |
1.8 |
|
Income Tax - Total |
15.4 |
-8.3 |
-10.8 |
5.5 |
4.1 |
|
Service Cost |
0.2 |
0.2 |
0.2 |
0.2 |
- |
|
Interest Cost |
1.0 |
0.9 |
0.8 |
0.7 |
- |
|
Expected Return on Assets |
-0.2 |
-0.3 |
-0.3 |
-0.3 |
- |
|
Actuarial Gains and Losses |
0.6 |
-0.2 |
0.5 |
-0.1 |
- |
|
Prior Service Cost |
0.0 |
1.2 |
1.2 |
1.0 |
- |
|
Other Pension |
0.0 |
0.0 |
0.7 |
0.0 |
- |
|
Curtailments & Settlements |
0.0 |
0.0 |
0.0 |
0.2 |
- |
|
Domestic Pension Plan Expense |
1.6 |
1.7 |
3.2 |
1.7 |
- |
|
Defined Contribution Expense |
0.9 |
1.1 |
1.8 |
1.4 |
- |
|
Total Pension Expense |
2.5 |
2.8 |
5.0 |
3.1 |
- |
|
Dicount Rate |
4.00% |
5.00% |
5.00% |
5.50% |
- |
|
Expected Rate of Return |
4.00% |
4.50% |
4.50% |
4.50% |
- |
|
Compensation Rate |
2.00% |
2.88% |
2.88% |
2.88% |
- |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
30-Jun-2011 |
31-Dec-2010 |
30-Jun-2010 |
31-Dec-2009 |
30-Jun-2009 |
|
Period Length |
6 Months |
6 Months |
6 Months |
6 Months |
6 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.713558 |
0.75577 |
0.754409 |
0.688522 |
0.749639 |
|
|
|
|
|
|
|
|
Sales |
364.5 |
285.9 |
238.2 |
205.4 |
145.2 |
|
Total Revenue |
364.5 |
285.9 |
238.2 |
205.4 |
145.2 |
|
|
|
|
|
|
|
|
Cost of Sales |
276.7 |
229.4 |
186.2 |
180.4 |
136.6 |
|
General and Administrative Expenses |
11.2 |
11.3 |
12.6 |
16.1 |
16.4 |
|
Sales and Marketing Costs |
11.3 |
11.7 |
9.9 |
9.6 |
10.7 |
|
Operating Costs |
0.1 |
0.1 |
1.8 |
10.0 |
9.4 |
|
Operating Income |
-0.1 |
-0.7 |
-0.1 |
0.0 |
0.0 |
|
Total Operating Expense |
299.1 |
251.9 |
210.4 |
215.9 |
173.1 |
|
|
|
|
|
|
|
|
Interest Income |
0.7 |
0.8 |
0.7 |
1.7 |
0.2 |
|
Interest Expense |
-0.5 |
-0.7 |
-0.8 |
-1.8 |
-1.0 |
|
Other Fin. Income |
1.1 |
0.4 |
1.1 |
-0.2 |
0.6 |
|
Other Fin. Expense |
-1.1 |
-0.4 |
-0.9 |
0.0 |
-1.1 |
|
Net Income Before Taxes |
65.7 |
34.2 |
27.9 |
-11.0 |
-29.3 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
17.2 |
8.6 |
6.8 |
-4.8 |
-3.5 |
|
Net Income After Taxes |
48.5 |
25.6 |
21.1 |
-6.1 |
-25.8 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
48.5 |
25.6 |
21.1 |
-6.1 |
-25.8 |
|
Net Income |
48.5 |
25.6 |
21.1 |
-6.1 |
-25.8 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
48.5 |
25.6 |
21.1 |
-6.1 |
-25.8 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
48.5 |
25.6 |
21.1 |
-6.1 |
-25.8 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
17.7 |
17.7 |
17.7 |
12.4 |
10.9 |
|
Basic EPS Excluding ExtraOrdinary Items |
2.74 |
1.44 |
1.19 |
-0.49 |
-2.37 |
|
Basic EPS Including ExtraOrdinary Item |
2.74 |
1.44 |
1.19 |
-0.49 |
-2.37 |
|
Dilution Adjustment |
- |
- |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
48.5 |
25.6 |
21.1 |
-6.1 |
-25.8 |
|
Diluted Weighted Average Shares |
17.7 |
17.7 |
17.7 |
12.4 |
10.9 |
|
Diluted EPS Excluding ExtraOrd Items |
2.74 |
1.44 |
1.19 |
-0.49 |
-2.37 |
|
Diluted EPS Including ExtraOrd Items |
2.74 |
1.44 |
1.19 |
-0.49 |
-2.37 |
|
DPS-Common Stock |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
65.7 |
34.2 |
27.9 |
-11.0 |
-29.3 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
17.2 |
8.6 |
6.8 |
-4.8 |
-3.5 |
|
Normalized Income After Taxes |
48.5 |
25.6 |
21.1 |
-6.1 |
-25.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
48.5 |
25.6 |
21.1 |
-6.1 |
-25.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.74 |
1.44 |
1.19 |
-0.49 |
-2.37 |
|
Diluted Normalized EPS |
2.74 |
1.44 |
1.19 |
-0.49 |
-2.37 |
|
Interest Expense |
0.5 |
0.7 |
0.8 |
1.8 |
1.0 |
|
Depreciation |
6.2 |
6.1 |
6.0 |
6.2 |
6.8 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
0.683971 |
0.758351 |
|
Auditor |
Deloitte LLP |
Deloitte LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Raw Materials |
67.9 |
60.3 |
70.5 |
70.6 |
59.8 |
|
Work in Progress |
13.6 |
14.7 |
12.1 |
20.6 |
20.8 |
|
Finished Goods |
18.2 |
15.3 |
24.3 |
18.4 |
20.5 |
|
Advance Payments |
0.1 |
0.2 |
0.4 |
0.2 |
0.3 |
|
Stock Depreciation |
-35.7 |
-34.0 |
-25.4 |
-22.0 |
-20.8 |
|
Trade Debtors |
75.8 |
47.1 |
47.8 |
90.8 |
91.3 |
|
VAT Receivables |
4.4 |
3.2 |
1.9 |
- |
- |
|
Deferred Charges |
0.6 |
1.0 |
7.1 |
- |
- |
|
Derivatives |
- |
- |
0.3 |
- |
- |
|
Other Receivable |
24.1 |
15.4 |
1.9 |
8.4 |
19.1 |
|
Cash at Bank |
37.2 |
27.0 |
18.2 |
27.6 |
21.7 |
|
Total Current Assets |
206.1 |
150.3 |
159.0 |
214.7 |
212.8 |
|
|
|
|
|
|
|
|
Formation Exp. |
12.4 |
11.9 |
10.2 |
7.9 |
6.9 |
|
Concess./Patents |
24.0 |
25.5 |
24.6 |
24.2 |
21.2 |
|
Client /Trade Fund |
0.2 |
0.2 |
0.2 |
0.2 |
- |
|
Amortisation |
-28.7 |
-29.0 |
-25.7 |
-23.4 |
-16.7 |
|
Goodwill |
0.0 |
0.0 |
2.1 |
2.2 |
2.5 |
|
Goodwill Amortisation |
- |
- |
0.0 |
0.0 |
-0.6 |
|
Land/Building |
46.4 |
48.3 |
45.8 |
62.5 |
52.4 |
|
Plant/Machinery |
237.1 |
251.0 |
262.8 |
266.6 |
233.8 |
|
Furn./Vehicles |
14.7 |
15.4 |
15.6 |
15.4 |
14.5 |
|
Other Tangible |
2.7 |
2.5 |
2.5 |
2.2 |
1.6 |
|
Assets/Const. |
0.1 |
0.3 |
6.8 |
0.7 |
0.5 |
|
Depreciation |
-226.9 |
-232.7 |
-253.4 |
-259.5 |
-224.7 |
|
Inv. Shares/Oth. |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Amounts Rcvbl. |
5.0 |
4.7 |
10.0 |
15.3 |
29.3 |
|
Deferred Tax Receivable |
2.9 |
11.7 |
4.6 |
3.0 |
3.7 |
|
Adjustment |
- |
- |
- |
0.0 |
- |
|
Total Assets |
296.0 |
260.1 |
265.1 |
332.2 |
337.4 |
|
|
|
|
|
|
|
|
Curr. Ptn. LT |
2.8 |
6.8 |
11.7 |
21.6 |
27.8 |
|
Leases |
2.4 |
4.1 |
2.9 |
2.7 |
2.8 |
|
Credit Inst. |
0.3 |
10.0 |
36.9 |
0.0 |
1.0 |
|
Provisions |
7.7 |
10.6 |
4.2 |
6.2 |
4.6 |
|
Trade Debts/Supp |
66.3 |
62.8 |
44.5 |
78.0 |
80.4 |
|
Taxes |
3.7 |
1.5 |
1.4 |
2.0 |
3.3 |
|
Pensions |
1.7 |
1.9 |
2.1 |
1.4 |
1.4 |
|
Advances Rec. |
24.5 |
18.4 |
11.8 |
- |
- |
|
Remuneration & Social Security |
19.0 |
17.7 |
20.1 |
- |
- |
|
Accruals |
4.4 |
3.1 |
- |
- |
- |
|
Other Liabilities |
0.3 |
1.6 |
3.8 |
40.3 |
40.6 |
|
Total Current Liabilities |
133.0 |
138.4 |
139.3 |
152.2 |
161.8 |
|
|
|
|
|
|
|
|
Leases |
9.9 |
13.1 |
6.7 |
15.1 |
15.3 |
|
Credit Inst. |
1.6 |
3.0 |
6.7 |
15.3 |
28.7 |
|
Other Debts |
- |
- |
- |
- |
0.0 |
|
Total Long Term Debt |
11.4 |
16.2 |
13.4 |
30.4 |
44.1 |
|
|
|
|
|
|
|
|
Pension Prov. |
13.5 |
15.3 |
9.3 |
10.0 |
8.6 |
|
Other Provisions |
2.4 |
2.6 |
2.5 |
2.2 |
1.9 |
|
Deferred Tax |
3.0 |
0.2 |
2.1 |
11.5 |
12.0 |
|
Minority Ints. |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Liabilities |
163.3 |
172.7 |
166.6 |
206.2 |
228.3 |
|
|
|
|
|
|
|
|
Capital |
29.1 |
31.2 |
10.3 |
10.8 |
9.8 |
|
Share Premium |
2.0 |
2.2 |
1.9 |
1.9 |
1.8 |
|
Consol. Res. |
98.8 |
55.2 |
86.1 |
115.5 |
98.0 |
|
Trans. Diff. |
2.7 |
-1.1 |
0.2 |
-2.3 |
-0.5 |
|
Total Equity |
132.7 |
87.4 |
98.4 |
125.9 |
109.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
296.0 |
260.1 |
265.1 |
332.2 |
337.4 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
17.7 |
17.7 |
10.9 |
10.9 |
10.9 |
|
Total Common Shares Outstanding |
17.7 |
17.7 |
10.9 |
10.9 |
10.9 |
|
Deferred Revenue - Current |
24.5 |
18.4 |
11.8 |
- |
- |
|
Accumulated Goodwill Amortisation |
- |
- |
0.0 |
0.0 |
0.6 |
|
Accumulated Intangible Amortisation |
28.7 |
29.0 |
25.7 |
23.4 |
16.7 |
|
Full-Time Employees |
2,008 |
2,112 |
2,363 |
2,342 |
2,320 |
|
LT Debt Maturing Within 1 Year |
2.8 |
6.7 |
14.6 |
24.4 |
27.8 |
|
LT Debt Maturing Within 5 Years |
1.6 |
3.0 |
11.7 |
21.7 |
28.7 |
|
LT Debt Maturing After 5 Years |
0.0 |
0.0 |
1.8 |
8.6 |
0.0 |
|
Total Long Term Debt, Supplemental |
4.3 |
9.7 |
28.1 |
54.8 |
56.5 |
|
Leases Maturing Within 1Year |
2.4 |
4.1 |
2.9 |
2.7 |
2.8 |
|
Leases Maturing Within 5 Years |
9.9 |
9.2 |
4.9 |
6.4 |
6.9 |
|
Leases Maturing After 5 Years |
0.0 |
3.9 |
1.8 |
8.6 |
8.4 |
|
Total Capital Leases |
12.3 |
17.3 |
9.6 |
17.8 |
18.1 |
|
Op. Lease Maturing Within 1 Year |
2.4 |
4.3 |
4.9 |
4.1 |
3.5 |
|
Op. Lease Maturing Within 5 Years |
1.4 |
5.2 |
8.2 |
7.0 |
6.4 |
|
Remaining Maturities |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Total Operating Leases |
3.8 |
9.5 |
13.1 |
11.1 |
10.0 |
|
Pension Obligation |
2.9 |
7.3 |
7.3 |
7.1 |
- |
|
Plan Assets |
2.8 |
6.7 |
6.7 |
6.0 |
- |
|
Funded Status |
-0.1 |
-0.6 |
-0.6 |
-1.2 |
- |
|
Accumulated Obligation |
14.7 |
10.9 |
10.7 |
9.3 |
- |
|
Unfunded Plan Obligation |
0.0 |
0.9 |
0.9 |
0.3 |
- |
|
Total Funded Status |
-0.1 |
-1.5 |
-1.6 |
-1.5 |
- |
|
Discount Rate |
4.00% |
5.00% |
5.00% |
5.50% |
- |
|
Expected Rate of Return |
4.00% |
4.50% |
4.50% |
4.50% |
- |
|
Compensation Rate |
2.00% |
2.88% |
2.88% |
2.88% |
- |
|
Net Domestic Pension Assets |
- |
- |
10.4 |
10.2 |
- |
|
Net Assets Recognized on Balance Sheet |
- |
- |
10.4 |
10.2 |
- |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
30-Jun-2011 |
31-Dec-2010 |
30-Jun-2010 |
31-Dec-2009 |
30-Jun-2009 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.689727 |
0.745406 |
0.816393 |
0.696986 |
0.712936 |
|
|
|
|
|
|
|
|
Trade Debtors>1Y |
117.2 |
75.8 |
62.7 |
47.1 |
43.4 |
|
Other Rcvbl.>1Y |
21.0 |
29.1 |
4.5 |
19.7 |
8.8 |
|
Inventories |
75.8 |
64.0 |
60.1 |
56.6 |
69.9 |
|
Cash at Bank |
75.3 |
37.2 |
55.7 |
27.0 |
23.1 |
|
Total Current Assets |
289.4 |
206.1 |
183.1 |
150.3 |
145.3 |
|
|
|
|
|
|
|
|
Intangibles |
8.3 |
7.9 |
7.3 |
8.5 |
9.2 |
|
Goodwill |
0.0 |
0.0 |
0.0 |
0.0 |
2.1 |
|
Tangibles |
77.3 |
74.1 |
71.1 |
84.7 |
77.0 |
|
Inv. Shares/Oth. |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Amounts Rcvbl. |
1.7 |
5.0 |
1.5 |
4.7 |
6.5 |
|
Deferred Tax Receivable |
3.0 |
2.9 |
6.0 |
11.7 |
6.3 |
|
Total Assets |
379.8 |
296.0 |
269.1 |
260.1 |
246.5 |
|
|
|
|
|
|
|
|
Interest-bearing debt |
4.3 |
5.5 |
7.0 |
20.9 |
38.4 |
|
Provisions |
7.8 |
7.7 |
6.6 |
10.6 |
14.0 |
|
Trade Debts/Supp |
79.6 |
66.3 |
68.2 |
62.8 |
61.5 |
|
Taxes |
9.7 |
3.7 |
2.8 |
1.5 |
1.6 |
|
Employee benefit obligations |
1.9 |
1.7 |
1.6 |
1.9 |
1.9 |
|
Other Liabilities |
48.7 |
48.2 |
56.1 |
40.8 |
34.7 |
|
Total Current Liabilities |
152.0 |
133.0 |
142.4 |
138.4 |
152.1 |
|
|
|
|
|
|
|
|
Financial leases |
9.5 |
9.9 |
10.0 |
13.1 |
5.3 |
|
Credit Inst. |
1.0 |
1.6 |
1.5 |
3.0 |
4.8 |
|
Total Long Term Debt |
10.5 |
11.4 |
11.5 |
16.2 |
10.1 |
|
|
|
|
|
|
|
|
Employee benefit obligations |
13.8 |
13.5 |
12.3 |
15.3 |
9.9 |
|
Provisions |
2.5 |
2.4 |
2.2 |
2.6 |
2.5 |
|
Deferred Tax |
11.4 |
3.0 |
0.3 |
0.2 |
0.3 |
|
Minority Ints. |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Liabilities |
190.2 |
163.3 |
168.6 |
172.7 |
174.9 |
|
|
|
|
|
|
|
|
Capital |
31.5 |
29.1 |
26.6 |
31.2 |
10.4 |
|
Share Premium |
2.2 |
2.0 |
1.9 |
2.2 |
1.9 |
|
Consol. Res. |
157.0 |
98.8 |
66.6 |
55.2 |
59.8 |
|
Trans. Diff. |
-1.1 |
2.7 |
5.4 |
-1.1 |
-0.4 |
|
Total Equity |
189.6 |
132.7 |
100.5 |
87.4 |
71.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
379.8 |
296.0 |
269.1 |
260.1 |
246.5 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
17.7 |
17.7 |
17.7 |
17.7 |
10.9 |
|
Total Common Shares Outstanding |
17.7 |
17.7 |
17.7 |
17.7 |
10.9 |
|
Employees |
2,000 |
2,008 |
1,904 |
2,112 |
2,075 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
Deloitte LLP |
Deloitte LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Profit |
61.9 |
-39.2 |
-31.1 |
16.6 |
12.4 |
|
Depreciation |
12.2 |
15.7 |
16.8 |
17.5 |
17.7 |
|
Revaluation Of Assets |
2.7 |
7.1 |
2.4 |
-0.4 |
0.9 |
|
Provisions |
-3.0 |
11.3 |
-0.8 |
1.5 |
0.7 |
|
Discontinued Operations |
- |
- |
- |
- |
0.0 |
|
Other Working Cap. |
- |
- |
6.8 |
23.8 |
19.8 |
|
Other/Exposures |
-0.5 |
5.4 |
- |
- |
- |
|
Inventories |
-14.9 |
19.5 |
- |
- |
- |
|
ST Receivables |
-30.1 |
-3.4 |
- |
- |
- |
|
Other Receivables |
-10.5 |
-1.9 |
- |
- |
- |
|
Payables |
7.5 |
16.3 |
- |
- |
- |
|
Other Liabilities |
9.9 |
4.0 |
- |
- |
- |
|
Taxes Payable |
-2.4 |
0.0 |
-0.2 |
-6.4 |
-4.1 |
|
Gain/Loss on Disposal of Assets |
0.4 |
0.0 |
-2.7 |
- |
- |
|
Extraord. Impairments on Assets |
0.3 |
2.1 |
0.0 |
0.0 |
1.3 |
|
Cash from Operating Activities |
33.4 |
36.9 |
-8.9 |
52.6 |
48.7 |
|
|
|
|
|
|
|
|
Interest Received |
1.4 |
1.1 |
2.9 |
4.9 |
3.2 |
|
Purchase Fixed Assets |
-4.9 |
-5.4 |
-12.4 |
-13.9 |
-12.0 |
|
Intangibles |
-1.4 |
-1.6 |
-4.3 |
-1.0 |
-1.8 |
|
Investments |
- |
- |
0.0 |
-0.9 |
- |
|
Sale of Intangibles |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Sale of Tangibles |
0.0 |
0.1 |
2.2 |
0.3 |
2.3 |
|
Cash from Investing Activities |
-4.9 |
-5.8 |
-11.6 |
-10.5 |
-8.3 |
|
|
|
|
|
|
|
|
Capital Increase |
0.0 |
19.8 |
- |
- |
- |
|
Interest Paid |
-1.5 |
-2.1 |
-5.3 |
-5.9 |
-4.0 |
|
Dividend |
0.0 |
0.0 |
-2.2 |
-2.6 |
0.0 |
|
Export Finance |
-4.6 |
-7.5 |
-14.3 |
-20.4 |
-18.9 |
|
Loans Issued |
0.3 |
0.6 |
38.8 |
0.0 |
0.4 |
|
Loans Repaid |
-13.3 |
-32.4 |
-6.4 |
-7.7 |
-18.0 |
|
Cash from Financing Activities |
-19.0 |
-21.6 |
10.6 |
-36.6 |
-40.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
2.4 |
-1.5 |
1.4 |
-2.1 |
-1.9 |
|
Net Change in Cash |
11.8 |
8.0 |
-8.5 |
3.3 |
-2.1 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
25.0 |
18.2 |
27.6 |
22.6 |
22.8 |
|
Net Cash - Ending Balance |
36.8 |
26.2 |
19.2 |
25.9 |
20.7 |
|
Cash Interest Paid |
1.5 |
2.1 |
5.3 |
5.9 |
4.0 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
30-Jun-2011 |
31-Dec-2010 |
30-Jun-2010 |
31-Dec-2009 |
30-Jun-2009 |
|
Period Length |
6 Months |
12 Months |
6 Months |
12 Months |
6 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.713558 |
0.755078 |
0.754409 |
0.719047 |
0.749639 |
|
|
|
|
|
|
|
|
Net Profit |
65.4 |
61.9 |
27.8 |
-39.2 |
-27.9 |
|
Depreciation |
6.2 |
12.2 |
6.0 |
15.7 |
6.8 |
|
Provisions |
-1.3 |
-3.0 |
-3.5 |
11.3 |
9.5 |
|
Disposal of Assets |
0.1 |
0.4 |
0.2 |
0.0 |
0.0 |
|
Impairment of Assets |
0.0 |
0.3 |
0.3 |
- |
- |
|
Write-offs on Assets |
-1.5 |
2.7 |
0.7 |
7.1 |
2.0 |
|
Working Capital |
-21.1 |
-38.7 |
7.1 |
40.0 |
35.2 |
|
Taxes Payable |
-3.8 |
-2.4 |
-2.2 |
0.0 |
0.1 |
|
Extraord. Impairments on Assets |
- |
- |
- |
2.1 |
- |
|
Cash from Operating Activities |
44.1 |
33.4 |
36.6 |
36.9 |
25.7 |
|
|
|
|
|
|
|
|
Interest Received |
0.7 |
1.4 |
0.7 |
1.1 |
0.2 |
|
Purchase Fixed Assets |
-3.9 |
-4.9 |
-2.2 |
-5.4 |
-2.1 |
|
Purchase Intangibles |
-0.5 |
-1.4 |
-0.8 |
-1.6 |
-1.1 |
|
Sale of tangibles |
- |
0.0 |
0.0 |
0.1 |
0.0 |
|
Sale of Intangibles |
- |
- |
- |
0.0 |
- |
|
Cash from Investing Activities |
-3.6 |
-4.9 |
-2.3 |
-5.8 |
-3.1 |
|
|
|
|
|
|
|
|
Capital Issused |
- |
- |
- |
19.8 |
- |
|
Interest paid |
-0.5 |
-1.5 |
-0.8 |
-2.1 |
-1.0 |
|
Dividend Paid |
- |
- |
- |
0.0 |
0.0 |
|
Increase/ (Decrease) of export financing |
-1.8 |
-4.6 |
-3.7 |
-7.5 |
-3.5 |
|
Loans Issued |
- |
0.3 |
0.0 |
0.6 |
1.7 |
|
Loans Repaid |
-1.5 |
-13.3 |
-10.6 |
-32.4 |
-14.4 |
|
Cash from Financing Activities |
-3.8 |
-19.0 |
-15.0 |
-21.6 |
-17.3 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-2.8 |
2.4 |
4.5 |
-1.5 |
-0.9 |
|
Net Change in Cash |
33.9 |
11.8 |
23.8 |
8.0 |
4.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
38.9 |
25.0 |
36.5 |
18.2 |
17.5 |
|
Net Cash - Ending Balance |
72.8 |
36.8 |
60.3 |
26.2 |
22.0 |
|
Cash Interest Paid |
0.5 |
1.5 |
0.8 |
2.1 |
1.0 |
|
|
|
Financials in: As Reported (mil)
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Financials in: As Reported (mil)
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Financials in: As Reported (mil)
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Financials in: As Reported (mil)
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.22 |
|
|
1 |
Rs.75.63 |
|
Euro |
1 |
Rs.65.64 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.