Nabaltec_E_GB2016

NOTES TO THE CONSOLIDATED BAL ANCE SHEET 89 6.9 OTHER CURRENT AND NON-CURRENT PROVISIONS The development of other provisions is shown in the tables below: FINANCIAL YEAR 2016 in TEUR 1/1/2016 Transfer Provisions for personnel expenses Provisions for environmental damage and waste disposal Other provisions Total 887 0 154 1,041 270 0 159 429 FINANCIAL YEAR 2015 in TEUR 1/1/2015 Transfer Provisions for personnel expenses Provisions for environmental damage and waste disposal Other provisions Total 844 0 145 989 128 0 153 281 Use 69 0 151 220 Use 83 0 144 227 Reversal 12/31/2016 0 0 0 0 1,088 0 162 1,250 Reversal 12/31/2015 2 0 0 2 887 0 154 1,041 Pension reserves The Group has launched defined benefit pension plans which provide for a portion of the Group’s employees in the period after retirement. These are final salary pension plans for Management Board members and employees based on the pension rules. The pension plans are in effect for employees who joined the company prior to 1 May 1995 and who are employed for an unlimited term. As a result, there can be no additions to the group of pension beneficiar- ies. Pension liability insurance premiums are paid for a portion of the plans. Because of how the plans are structured, the employer is exposed to actuarial risks, of which the most signifi- cant are interest rate risk and longevity risk. The average age of the persons covered by the pension plans is in a range between 60 and 65 years. Pension obligations are calculated based on a retirement age of 63. The tables below show the composition of the pension expenses recognized in the consoli- dated income statement as well as amounts recognized in the consolidated balance sheet for the individual pension plans: PENSION EXPENSES in TEUR Current service cost Past service cost Net interest expense Pension expenses Actual income from plan assets 2016 591 3,182 665 4,438 57 2015 579 0 627 1,206 47 New pension commitments were issued in 2016 in connection with the change in the structure of the Management Board as of 1 January 2017. This resulted in a past service cost in 2016 which was recognized as profit and loss in the year the plan was modified. Annual Report 2016 | Nabaltec AG |||| S T N E M E T A T S L A I C N A N I F D E T A D I L O S N O C

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