Page 44 - Hoftex Annual Report 2018 EN

Letter to Shareholders
Supervisory Board Report
Group Management Report Consolidated Financial Statements Annexes
(15) Revenue reserves
2018 2017
Revenue reserves on 1 Jan. 46,754 42,254 Allocations pursuant to Section 58(3) AktG 2,000 1,200 Allocations pursuant to Section 58(2) AktG 2,700 3,300 Revenue reserves on 31 Dec. 51,454 46,754
(16) Appropriation of net profit
2018 2017
Consolidated net losses on 1 January -538 -1,785
Allocation to other revenue reserves by the Annual General Meeting pursuant to Section 58(3) AktG
-2,000 -1,200
Dividend payment -1,198 -1,089 Accumulated consolidated losses brought forward -3,736 -4,074 Consolidated net income for the year 8,022 6,836 Allocation to other reserves by the Annual General Meeting pursuant to
Section 58(2) AktG
-2,700 -3,300
Consolidated net gains/losses on 31 December 1,586 -538
(17) Provisions
31 Dec. 2018 31 Dec. 2017
Provisions for pensions and similar obligations 10,421 10,413 Excess of plan assets over pension liability -1,272 -1,268 Disclosure of pension provisions 9,149 9,145 Tax provisions 870 742 Other provisions 11,790 12,769
Other provisions are mainly obligations towards members of staff, guarantees, legal and consultation
costs as well as outstanding invoices.
21,809 22,656
(18) Liabilities
31 Dec. 2018 31 Dec. 2017
44
Liabilities to banks 51,587 52,225 Trade payables 6,800 5,872 Liabilities on bills accepted and drawn 134 394 Liabilities to affiliated companies 6,179 116 Other liabilities 1,296 9,300
of which taxes (341) (557) of which social security (144) (75) 65,996 67,907