Notes to the consolidated financial statements NOTE 5 - Other operating income and expenses
2011
2010
Gains on the disposal of property, plant and equipment and intangible assets Government grants Other operating income Total other operating income
7.9 7.3 7.6 22.8
10.5 6.4 4.0 20.9
Losses on the disposal of property, plant and equipment and intangible assets Other operating expenses Total other operating expenses
(2.4) (0.5) (2.9)
(1.3) (4.3) (5.6)
Fibertex has recognised an investment grant of DKK 6.4 million in 2011 (2010: DKK 6.4 million), related to the establishment of the factory in Malaysia. The grant is primarily conditional on a tax profit to be generated over the next years by Fibertex in Malaysia, which is regarded as very likely to happen. Other grants are not subject to special conditions. NOTE 6 - Equity investments in associates
2011
2010
Cost at January 1 Additions Disposals Cost at December 31
99.6 5.0 (5.5) 99.6
141.0 0.0 (41.4) 99.6
Adjustments at January 1 Foreign exchange adjustments Other changes in equity Disposals for the year Profit/(loss) after tax in associates Adjustments at December 31
(5.5) (4.6) (1.0) 0.2 (26.0) (36.9)
(11.1) 6.6 (0.2) (0.2) (0.6) (5.5)
Carrying amount at December 31
62.7
94.1
2011 Attributable to the group Name
Registered office
Incuba A/S Aarhus, Denmark Martin Professional (HK) Ltd. Hong Kong, China Martin Professional Japan Ltd. Tokyo, Japan Finini ApS Odense, Denmark Dansk Afgratningsteknik A/S Skjern, Denmark GFE Patent A/S 1) Lang책, Denmark Fibertex South Africa Ltd. Durban, South Africa The group share of equity and profit in total
Ownership interest
Revenue
Profit for the year
Total assets
Liabilities
Equity
0.0 24.5 30.8 N/A N/A 30.7
(42.3) 3.1 0.3 0.2 1.3 (24.0)
85.6 14.5 22.1 17.1 9.6 111.5
22.3 3.1 9.2 16.4 3.8 25.7
31.0 5.3 5.2 0.4 1.7 19.1 62.7
Ownership interest
Revenue
Profit for the year
Total assets
Liabilities
Equity
49.02% 46.20% 40.00% 49.90% 30.00% 25.00% 26.00%
0.0 19.8 41.2 N/A N/A 0.0 0.0
(0.5) (3.5) 3.0 0.6 0.5 (0.2) (1.2)
124.1 13.2 20.8 17.0 9.1 24.0 149.2
16.4 5.3 9.1 13.9 4.6 4.3 36.6
52.8 3.6 4.7 1.5 1.4 4.9 25.2 94.1
49.02% 46.20% 40.00% 49.90% 30.00% 26.00%
Profit for the year
(20.7) 1.4 0.1 (1.1) 0.4 (0.2) (5.9) (26.0)
2010 Attributable to the group Name
Registered office
Incuba A/S Aarhus, Denmark Martin Professional (HK) Ltd. Hong Kong, China Martin Professional Japan Ltd. Tokyo, Japan Finini ApS Odense, Denmark Dansk Afgratningsteknik A/S Skjern, Denmark GFE Patent A/S Lang책, Denmark Fibertex South Africa Ltd. Durban, South Africa The group share of equity and profit in total
Profit for the year
(0.2) (1.7) 1.2 0.3 0.1 0.0 (0.3) (0.6)
1) At the end of 2011, GFE Patent A/S was reclassified from an associate to being pro rata consolidated. Subsequently, the company changed its name to Xergi NiX Technology A/S. There is no recognised goodwill regarding associates
42
All amounts in millions of Danish kroner.