Sennheiser 2012 Annual Report Download - page 42

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8382
NOTES ON THE CONSOLIDATED FINANCIAL STATEMENTS 2012
NOTES ON THE CONSOLIDATED FINANCIAL STATEMENTS 2012
Other operating income includes €6,000 (previous year: €6,000) from the dissolution of the special items for
investment allowances on fixed assets. Other operating income also includes income not related to the account-
ing period amounting to €2.072 million (previous year: €2.625 million), which mainly resulted from the release
of provisions and gains from the sale of items of fixed assets. Currency translation gains amounted to €39.205
million (previous year: €22.235 million).
Personnel costs include pension expenses in the amount of €4.999 million (previous year: €4.036 million).
On an annual average, the company had 2,329 employees (previous year: 2,183), of whom 76 (previous year: 75)
were trainees.
EMPLOYEES 2012 PREVIOUS YEAR
Within Germany 1,226 1,177
Abroad 1,103 1,006
2,329 2,183
These figures include the full 97 employees (previous year: 89) in the partially consolidated Sennheiser
Communications A/S.
Amortization of current assets, to the extent that this exceeds the amount normal for the company, related
to inventory provisions in the previous year.
Other operating expenses include expenses not related to the accounting period in the amount of €3.563 million
(previous year: €1.709 million), which are mainly the result of reserves for bad debts. Other operating expenses
also include the auditor’s fee for the audit of the consolidated financial statements for financial year 2012 in
the amount of €609,000, consisting of €288,000 for the audit, €5,000 for other audit services, €189,000 in tax
consultancy fees and €127,000 for other services. Currency translation losses amounted to €40.554 million
(previous year: €22.066 million).
Interest income includes proceeds from discounting provisions in the amount of €174,000 (previous year:
€50,000). Interest expense includes expenditures for imputed interest on provisions in the amount of €3.709
million (previous year: €3.313 million).
Income taxes include income from deferred taxes in the amount of €2.416 million (previous year: expenses of
€3.476 million).
They are as follows:
(€ IN THOUSANDS) REMAINING TERM
Total Up to one year More than five years
Dec. 31, 2012 Previous year Dec. 31, 2012 Previous year Dec. 31, 2012 Previous year
Liabilities to credit institutions 49 353 49 353 0 0
Advance payments received for orders 537 348 537 348 0 0
Trade payables 32,840 27,604 32,832 27,604 0 0
Liabilities to shareholders 130,939 101,590 130,939 101,590 0 0
Liabilities to associated companies 1 3 1 3 0 0
Other liabilities 14,576 14,056 14,558 13,678 0 0
178,942 143,954 178,916 143,576 00
Other liabilities include tax liabilities in the amount of €4.808 million (previous year: €4.702 million) and social
security liabilities of €1.356 million (previous year: €1.465 million). No warranties or other safeguards exist.
E. NOTES ON THE CONSOLIDATED PROFIT AND LOSS STATEMENT
Sales by division are structured as follows:
(€ MILLIONS) 2012 CHANGE OVER
PREVIOUS YEAR
Consumer Division 288.6 7%
Professional Systems 205.1 10%
Integrated Systems 90.7 21%
Sales 584.4 10%
Sales broken down into geographical markets are as follows:
(€ MILLIONS) 2012 PREVIOUS YEAR
Americas 146.5 133.6
APAC 95.0 73.0
EMEA 342.9 324.8
Sales 584.4 531.4
€92.002 million (previous year: €88.696 million) of sales were generated in Germany.