20 REPORT ANNUAL 10 Key data on the Unior company business (in thousand EUR) 2010 2009 2008 2007 Business outcome Income from sale 125.532 111.410 153.218 144.490 EBIT 1.683 (6.815) 5.581 6.469 EBITDA 11.585 3.411 16.172 17.516 Net profit (2.780) (9.766) 1.436 4.138 Financial position Total assets 303.609 285.806 303.110 262.636 Total equity 118.570 106.719 116.486 96.189 Financial liabilities 141.953 145.665 144.018 120.001 Operating liabilities 35.359 25.615 34.299 39.510 Profitability indicators EBIT margin (in %) 1,34 (6,12) 3,64 4,48 EBITDA margin (in %) 9,23 3,06 10,55 12,12 ROA – return on assets (in %) (0,94) (3,32) 0,51 1,67 ROE – return on equity (in %) (2,44) (8,38) 1,36 4,46 Indicators of financial health Equity/ Total assets (in %) 39,05 37,34 38,43 36,62 EBITDA Financial liabilities 8,16 2,34 11,23 14,60 Employees Employees - at the end of the year 2.200 2.169 2.352 2.611 Sales revenues (in thousand EUR) EBIT, EBITDA and net profit (in thousand EUR) Sales revenues Capital and financial liabilities (in thousand EUR) Indicators of profitability of the UNIOR company Comparison of EBITDA and financial debt of the company Changes in the number of employees 20 REPORT ANNUAL 10 CONTENTS Letter from the CEO ................................................................................................ 8 Report of the Supervisory Board ........................................................................... 12 Company profile .................................................................................................... 16 Company programmes and activities .................................................................... 20 Major events in 2010 ............................................................................................ 26 The most important markets and customers ........................................................ 28 Shares, recapitalization and listing on the stock market ...................................... 32 Corporate social responsibility ............................................................................. 34 Employees ..........................................................................................................................34 Company ...........................................................................................................................37 Concern for the environment (environmental protection) .....................................................37 Corporate management ........................................................................................ 42 Management Board ...........................................................................................................42 Executive Board .................................................................................................................44 Supervisory Board ..............................................................................................................44 Assembly ...........................................................................................................................45 Payments to the Management Board and Supervisory Board ...............................................46 Trading in shares of the Management Board and Supervisory Board ....................................47 Compliance with the codex ................................................................................................47 Business Risk .....................................................................................................................48 Business Report ..................................................................................................... 52 The situation in the economy and automotive industry ........................................................52 Sales ..................................................................................................................................54 Production and services ......................................................................................................56 Purchasing .........................................................................................................................57 Business performance .........................................................................................................59 Performance indicators .......................................................................................................61 Financial position ...............................................................................................................61 Investments .......................................................................................................................63 Objectives for 2011 ............................................................................................................65 Financial statements ............................................................................................. 70 Balance sheet on 31.12.2010 .............................................................................................70 Income statement for the period from 1.1.2010 to 31.12.2010 ...........................................72 Statement of other overall income ......................................................................................73 Statement of cash flows .....................................................................................................74 Statement of changes in equity ...........................................................................................75 Notes to Financial Statements .............................................................................. 76 Declaration of Conformity ...................................................................................................76 Preparatory basis of financial statements ............................................................................76 ANNUAL REPORT 2010 4 Fair value ...........................................................................................................................76 The accounting policies ......................................................................................................76 Transactions in foreign currencies .......................................................................................79 Profit / loss .........................................................................................................................79 Significant estimates and judgments ...................................................................................79 Summary of significant accounting policies and disclosures .................................................80 New standards and interpretations that have not yet come into force ..................................90 Notes to the balance sheet .................................................................................................92 1. Intangible assets ....................................................................................................92 2. Fixed assets ...........................................................................................................93 3. Investment property ...............................................................................................94 4. Long-term investments ..........................................................................................95 5. Stocks ...................................................................................................................97 6. Trade receivables ...................................................................................................98 7. Short-term investments ..........................................................................................99 8. Bank balances, checks and cash .............................................................................99 9. Capital ................................................................................................................100 10. Long-term provisions and deferred income ...........................................................101 11. Long-term liabilities .............................................................................................102 12. Deferred tax liabilities ..........................................................................................103 13. Short-term financial liabilities ...............................................................................104 14. Short-term operating liabilities .............................................................................105 15. Passive time demarcations ...................................................................................105 16. Conditional liabilities ...........................................................................................106 Notes to the income statement .........................................................................................107 17. Net revenues from sale ........................................................................................107 18. Capitalized product and services ..........................................................................107 19. Other operating income .......................................................................................107 20. Costs and expenses .............................................................................................108 21. Financial income and financial expenses ...............................................................109