Notes to the consolidated financial statements NOTE 1 - Segment reporting Schouw is an industrial conglomerate consisting of a number of sub-groups operating in various industries and independently of the other sub-groups. The group management monitors the financial developments of all material sub-groups on a regular basis. Based on management control and financial management, Schouw has identified six reporting segments, which are BioMar, Fibertex Personal Care, Fibertex Nonwovens, Grene, Hydra-Grene and Martin. At January 1, 2011, Fibertex was de-merged into two independent businesses, Fibertex Personal Care and Fibertex Nonwovens, which also became reporting segments. The comparative figures have been restated accordingly. In 2010, Sjøtroll was also recognised as a reporting segment until divested. Included in the reporting segments are revaluations of assets and liabilities made in connection with Schouw & Co.’s acquisition of the segment in question and consolidated goodwill arising as a result of the acquisition. The operational impact of depreciation/amortisation and write-downs on the above revaluations or goodwill is also included in the profit presented for the reporting segment. All transactions between segments were made on an arm’s length basis. Geographical segment information indicates the group’s revenue and assets by national market. The list shows the individual countries in which the group’s revenue or assets account for 5% or more of consolidated revenue or consolidated total assets. As Schouw & Co.’s consolidated revenue is generated in some 100 different countries, a very large proportion of the revenue derives from the ’Rest of Europe’ and ’Rest of World’ categories.
Total reportable segments 2011 External revenue Intra-group revenue Segment revenue Depreciation Impairment EBIT Segment assets Including goodwill Equity investments in associates Segment liabilities Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Capital expenditure Average number of employees
Total reportable segments 2010 External revenue Intra-group revenue Segment revenue Depreciation Impairment EBIT Segment assets Including goodwill Equity investments in associates Segment liabilities Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Capital expenditure Average number of employees
38
All amounts in millions of Danish kroner.
BioMar
Fibertex Personal Care
Fibertex
7,268.8 0.0 7,268.8 125.3 0.0 361.6 4,490.8 739.7 0.0 2,491.9 133.4 (200.0) 109.5 221.0 761
1,285.3 28.4 1,313.7 94.4 0.0 148.4 1,603.1 72.4 0.0 921.4 148.7 (266.5) 107.3 269.4 322
720.4 6.1 726.5 52.7 0.0 (7.1) 1,089.9 77.6 19.1 702.0 12.4 (240.1) 285.3 251.6 449
BioMar
Fibertex Personal Care
5,419.1 0.0 5,419.1 122.0 0.0 199.5 3,909.2 734.3 0.0 1,843.3 170.9 (235.6) (296.7) 242.4 709
1,236.8 0.0 1,236.8 101.3 0.0 160.3 1,343.8 72.4 0.0 766.2 169.6 (161.7) (4.4) 161.7 319
Fibertex
413.1 0.0 413.1 41.9 0.0 (16.3) 665.1 32.0 25.2 373.8 (21.0) (23.7) 45.1 31.9 399
Grene
1,300.2 6.9 1,307.1 29.9 2.0 86.9 931.0 11.5 0.0 645.7 48.4 (44.3) (8.5) 52.7 921
Grene
1,230.5 6.5 1,237.0 29.3 2.1 48.2 858.1 11.5 0.0 602.6 41.9 (27.4) (14.7) 35.0 915
HydraGrene
Martin
436.6 28.9 465.5 11.3 0.0 69.2 397.5 0.0 1.7 211.2 29.8 (12.0) (23.8) 12.1 196
854.7 0.1 854.8 73.4 5.3 2.0 834.4 47.0 10.8 656.6 (5.0) (39.2) 46.2 43.4 599
HydraGrene
Martin
363.0 28.4 391.4 10.9 0.0 56.2 351.4 0.0 1.4 113.6 35.3 (5.8) (19.0) 5.8 174
714.7 0.1 714.8 69.6 5.3 (69.0) 802.0 47.0 9.8 606.6 50.3 (26.7) (26.1) 38.8 609
Sjøtroll (Discon tinuing operations)
-
Sjøtroll (Discon tinuing perations) o
Total
11,866.0 70.4 11,936.4 387.0 7.3 661.0 9,346.7 948.2 31.6 5,628.8 367.7 (802.1) 516.0 850.2 3.248
Total
484.3 9,861.5 172.2 207.2 656.5 10,068.7 0.0 375.0 0.0 7.4 194.0 572.9 7,929.6 897.2 36.4 4,306.1 161.0 608.0 (59.7) (540.6) (102.3) (418.1) 59.7 575.3 288 3.413