Nutreco
- Consolidated income statement
- Consolidated statement of comprehensive income
- Consolidated balance sheet
- Statement of changes in equity
- Consolidated cash flow statement
- Notes to the consolidated financial statements
- (1) Accounting policies used for the consolidated financial statements of Nutreco Holding N.V.
- (2) Reconciliation consolidated income statement
- (3) Operating segments
- (4) Discontinued operations and divestments
- (5) Assets and liabilities held for sale
- (6) Acquisitions
- (7) Other operating income
- (8) Personnel costs
- (9) Other operating expenses
- (10) Net financing costs
- (11) Income tax expense
- (12) Earnings per share
- (13) Property, plant and equipment
- (14) Intangible assets
- (15) Investments in associates
- (16) Other investments
- (17) Deferred tax assets and liabilities
- (18) Inventories
- (19) Biological assets
- (20) Trade and other receivables
- (21) Cash and cash equivalents
- (22) Equity attributable to the equity holders of the parent
- (23) Interest-bearing borrowings
- (24) Employee benefits
- (25) Provisions
- (26) Trade and other payables
- (27) Financial instruments and risk management
- (28) Contingent assets and liabilities
- (29) Related party transactions
- (30) Subsequent events
- (31) Accounting estimates and judgements
- (32) Notes to the consolidated cash flow statement
(4) Discontinued operations and divestments
Financial results discontinued operations
On 19 October 2009 Nutreco has completed the divestment of its majority shareholding in Integra, Czech Republic, to Hendrix Genetics. Hendrix Genetics already owned 34% in Integra. Integra is a layer pullet and hatchery business and was part of Nutreco’s subsidiary Trouw Nutrition Biofaktory, the premix and specialty feed company in the Czech Republic acquired in 2008. The company has 80 employees and owns two hatcheries in the Czech Republic. The company was sold at book value.
The divested business in 2009 is not considered as discontinued operations, because Integra does not represent a separate major line of business or geographical area and was not acquired with the intention to resale.
The 2008 financial results attributable to the discontinued operations are:
|
(EUR x million) |
2008 |
|
Results of discontinued operations |
|
|
Revenue |
- |
|
Expenses |
-2.5 |
|
Other operating income |
13.4 |
|
Operating result from discontinued operations |
10.9 |
|
Share in results of associates |
- |
|
Income tax expense |
0.2 |
|
Operating result from discontinued operations, net of income tax |
11.1 |
|
Gain on sale of discontinued operations |
- |
|
Financial expenses discontinued operations |
- |
|
Income tax on gain on sale of discontinued operations |
- |
|
Gain on sale of discontinued operations, net of income tax |
- |
|
Total result for the period from discontinued operations |
11.1 |
|
Basic earnings per share from discontinued operations (EUR) |
0.32 |
|
Diluted earnings per share from discontinued operations (EUR) |
0.32 |
|
Cash flows from discontinued operations |
|
|
Net cash from operating activities |
5.7 |
|
Net cash from/(used in) investing activities |
- |
|
Net cash from/(used in) discontinued operations |
5.7 |
The result from discontinued operations 2008 relates to operations which have been discontinued before 2008.
The operating result from discontinued operations of EUR 10.9 million is mainly composed of:
- Release of provisions for EUR 7.4 million (profit)
- Earn-out income related to a divestment in 2006 of in total EUR 5.9 million (profit)
- The impairment of a loan by EUR 2.2 million (loss)