EDUCACION SOSPECHA O DETECCIÓN DE
5.3.10.5. HTA en embarazo
Principles of valuation for the financial statements
In determining the principles for the valuation of assets and liabilities and the determination of result for its company financial statements, the Company has made use of the option offered in Article 2:362 Clause 8 of the Dutch Civil Code. This means that the accounting policies for the valuation of assets and liabilities and the determination of result (hereafter ‘accounting policies’) applied to the company financial statements are the same as those applied for the consolidated financial statements. Participations over which a significant influence is exercised are recognised at net asset value, whereby the net asset value is determined on the basis of the accounting policies applied in the consolidated financial statements (see pages 83 to 89).
1 Property, plant and equipment 2009 2008
Carrying amount on 1 January 80 242
Depreciation (80) (162)
Carrying amount on 31 December – 80
Specified as follows:
Cost 809 809
Cumulative depreciation 809 729
2 Intangible assets Goodwill
Other intangible
assets Total
Carrying amount as at 1 January 2009 146,177 424 146,601
Adjusted purchase price 35 – 35
Investments 11,319 2,301 13,620
Amortisation – (438) (438)
Carrying amount as at 31 December 2009 157,531 2,287 159,818
Specified as follows:
Cost 159,437 3,121 162,558
Cumulative amortisation and impairment (1,906) (834) (2,740)
3 Participations in and receivables from Group companies 2009 2008
Shares 1,012,826 871,229
Receivables 5,682 27,197
Total 1,018,508 898,426
Shares
Shares are stated at the net asset value and the movement was as follows:
2009 2008 Balance as at 1 January 871,229 493,683 New participations 39,379 51,920 Increase in participations 6,859 278,971 Deconsolidation (559) 3,279 Results 158,750 131,907 Dividends received (80,127) (62,708)
Effect of changes in exchange rates 22,456 (30,973)
Movement in hedging reserve of participations (8,027) –
Other movements 2,866 5,150
A list of group companies and other participations compiled in accordance with Article 379, Book 2 of the Dutch Civil Code has been filed at the Commercial Registry Office in Rotterdam.
4 Other financial fixed assets 2009 2008
Securities 1 1
Derivatives at fair value – 334
Deferred tax assets – 541
Total 1 876
5 Receivables 2009 2008
Receivables from Group companies 16,123 14,486
Taxes and social security premiums 268 469
Other receivables and accruals 8,900 15,645
Total 25,291 30,600
6 Issued capital
On 31 December 2009 the number of outstanding ordinary shares with a nominal value of 0.80 euro was 78,376,728 (2008: 77,462,396). On 31 December 2009 the issued capital amounted to 82,087,483 ordinary shares (2008: 80,659,647) of which 3,710,755 (2008: 3,197,251) were held by the Company to cover the obligations arising from the share scheme for the Board of Management and the share option scheme (see pages 97 and 95 respectively).
7 Share premium reserve 2009 2008
Balance as at 31 december 34,978 36,120
Comprises:
Distribution subject to taxation 8,593 8,593
Distribution exempt from taxation 26,385 27,527
Total 34,978 36,120
In 2009 1.1 million euro was charged to the tax-free distributable share premium reserve (2008: nil) as a result of the stock dividend.
8 Other reserves 2009 2008
Balance as at 1 January 181,946 174,113
Profit appropriation 85,014 55,680
Purchased own shares (12,924) (16,506)
Share options exercised in ordinary shares 4,976 2,502
Share-based payments 3,555 2,385
Movements in hedge reserve of participations (14,116) (2,608)
Effect of movements in exchange rates on the valuation
of participations 22,739 (33,620)
Balance as at 31 December 271,190 181,946
The legal reserves included in the other reserves are immaterial. The purchase price of the repurchased shares has been deducted from the other reserves. At the end of 2009 the translation reserve amounted to 19.1 million euro negative (2008: 41.9 million euro negative).
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9 Unappropriated result
Proposed appropriation of profit:
2009 2008
Dividend payable on ordinary shares 50,161 45,703
Added to the other reserves 76,054 67,638
Total 126,215 113,341
10 Provisions
Deferred tax
liabilities Pensions
Warranties
and claims Total
Balance as at 1 January 2008 2,394 4,598 7,012 14,004 Additions – 5,000 – 5,000 Withdrawals (2,394) (1,608) (80) (4,082) Balance as at 31 December 2008 – 7,990 6,932 14,922 Balance as at 1 January 2009 – 7,990 6,932 14,922 Additions 968 – – 968 Withdrawals – (860) (49) (909) Balance as at 31 December 2009 968 7,130 6,883 14,981 11 Non-current liabilities 2009 2008
Syndicated bank loans 298,164 297,439
Derivatives at fair value 18,286 10,370
Total 316,450 307,809
12 Other liabilities 2009 2008
Taxes and social security premiums 7,820 3,717
Various liabilities 36,901 38,527
Total 44,721 42,244
Contingent liabilities
Imtech N.V. has issued a declaration of joint and several liability for the majority of its Dutch subsidiaries on the grounds of Article 403 Book 2 of the Dutch Civil Code. In addition, Imtech N.V. has provided separate warranties as additional security on behalf of subsidiaries relating to the fulfilment of specifically defined contractual commitments to third parties. These parent company warranties relate to so-called advance payment warranties in the technical contracting sector and purely performance warranties. A large part of these warranties have been given for companies for which the aforementioned declaration of joint and several liability was issued and filed at the Commercial Registry Office. On the balance sheet date the liabilities of these subsidiaries amounted to 520 million euro (2008: 558 million euro). Imtech N.V. is also jointly and severally liable for the debts of its subsidiaries by virtue of the credit and guarantee facilities. Finally, as the parent company of the fiscal unities with regard to income tax and VAT Imtech N.V. is severally liable for the tax liabilities of these fiscal unities.
13 Auditor’s fees
With reference to Section 2:382a of the Dutch Civil Code, KPMG has charged the following fees to the Company, its subsidiaries and other consolidated entities: 2009 2008 KPMG Accountants N.V. Other KPMG network Total KPMG KPMG Accountants N.V. Other KPMG network Total KPMG
Audit of financial statements 1,027 1,993 3,020 1,076 1,833 2,909
Other audit services 126 84 210 43 116 159
Tax advisory services – 650 650 – 641 641
Other non-audit services 335 215 550 330 989 1,319
Total 1,488 2,942 4,430 1,449 3,579 5,028
The members of the Board of Management have signed the annual report and financial statements in fulfilment of their legal obligations on the grounds of Article 2:101 Clause 2 of the Dutch Civil Code and Article 5:25 c Clause 2 sub C of the Financial Supervision Act.
The members of the Supervisory Board have signed the financial statements in fulfilment of their legal obligations on the grounds of Article 2:101 Clause 2 of the Dutch Civil Code.
Gouda, 15 February 2010
Supervisory Board
R.M.J. van der Meer G.J. de Boer-Kruyt E.A. van Amerongen A. van Tooren W.A.F.G. Vermeend A. Baan
Board of Management
R.J.A. van der Bruggen B.R.I.M. Gerner
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To the Shareholders of Imtech N.V.