Stichting Auto Recycling Holding (100% shareholder ARN Auto Recycling BV)

Toelichting op het financieel verslag 2022

1. Intangible fixed assets
   The intangible fixed assets comprised purchased software, depreciated to a value of zero over five years on a linear basis.
2. Tangible fixed assets
   Tangible fixed assets included installations and other fixed company assets.
   In 2022, ARN Auto Recycling Nederland B.V. transferred the ownership of 62 drainage installations to car-dismantling companies. Ownership of the remaining 119 installations will be transferred during the course of 2023.
3. Financial fixed assets
   Stichting Auto Recycling placed the management of its investment portfolio with two asset managers. The relevant monies were invested in both bond and equity funds. The asset managers were instructed to adopt a defensive/neutral and sustainable investment strategy, based on the investment statute of the Stichting (foundation). In this way the risks associated with investments were kept to a minimum and sustainable investment was guaranteed. The divestment of the ARN Recycling B.V. subsidiary in 2020 resulted in a long-term receivable for the period 2024-2025.
4. Receivables
   This entry comprised mainly of debtors, a short-term receivable resulting from the sale of subsidiary ARN Recycling B.V. in 2020, as well as other receivables.
5. Liquid assets
   The funds of Stichting Auto Recycling Holding, Stichting Auto Recycling and ARN Auto Recycling Nederland B.V were placed in the care of creditworthy banking institutions.
6. Equity capital
   The foundation capital was deposited by the managements of RAI Vereniging, BOVAG, FOCWA and STIBA, with each organisation depositing a proportional share of the capital.
7. Recycling-fee fund
   The annual foundation result of the Stichting Auto Recycling, as it pertains to the management of the ELV Directive (Bba), is incorporated into the recycling-fee fund. The result, in relation to the ELV Directive, can be seen in the statement of incomes and expenditures and is added to or deducted from the recycling-fee fund. The fund is meant for expected and unexpected future expenditures.
8. Provisions
   Based on the expected associated costs, a provision was set aside in 2020 for the intended transfer of ownership of the drainage installations to the car-dismantling companies. Added to this in 2021 were R&D compensation costs to be paid out to car-dismantling companies. In 2022, there was a withdrawal for project-related costs. Activities for the yet-to-be-transferred installations were partly carried out in 2022 and the costs thereof were charged to the provision.
9. Long-term debts
   The affiliated car-dismantling companies paid a deposit for the use of logo signs. As of 31 December 2022, there were 213 affiliated car-dismantling companies (also 2013 in 2021).
10. Short-term debts
    Short-term liabilities comprised mainly creditors, the entry for materials obligation car-dismantling companies and the contractually agreed contribution to the operating costs of HKS Tiel B.V., minus the third instalment of the divestment proceeds from the PST factory.
    The entry for the materials obligation for car-dismantling companies represents the outstanding administrative compensation still to be paid to car-dismantling companies and the expected costs of collection and processing. This obligation is linked to the outstanding materials balances per company. Outstanding materials balances are the result of materials that are still in the packaging or end-of-life vehicles that are due to be dismantled, or already removed but not yet claimed.
11. Income from recycling fees
    During the course of 2022, a recycling fee was levied on a total of 355,722 new registered vehicles (374,709 in 2021) and 287,356 imported vehicles (231,827 in 2021).
12. Income from investments
    Stichting Auto Recycling instructed its asset managers to adopt a defensive/neutral strategy by investing mainly in bonds and shares. The reported income was earned from stock-price results, dividends and interest on bonds.
13. Other incomes
    Other incomes comprised passed-on costs, such as those agreed in the Service Level Agreement with Stichting Autobatterij Recycling, Stichting Scooter Recycling Nederland and Stichting Instituut voor Duurzame Mobiliteit.
14. Turnover costs
    In 2022, the 213 affiliated car-dismantling companies (also 213 in 2021) dismantled 143,036 end-of-life vehicles (178,136 in 2021). The appropriate administrative payments were made to these car-dismantling companies. Moreover, turnover costs also comprised the costs of the collection and processing of the ARN materials, the servicing and maintenance of the drainage installations, and the contractually agreed contribution to the operating costs of the PST factory.
15. Costs of outsourced work and other external costs
    These include the costs of publicity, accommodation, offices, transport and other operating costs.
16. Wages and salaries
    ARN’s average workforce in 2022 comprised 18.1 FTEs (18.6 in 2021). Moreover, the management board of Stichting Auto Recycling Holding had four directors, while ARN Auto Recycling Nederland B.V. had a Supervisory Board populated by three members.
17. Social security contribution and pension costs
    In addition to the statutory social-security contributions, this entry comprised pension costs. From the moment they start work, employees aged 21 and older participate in a collective pension scheme.
18. Depreciation of fixed assets
    These depreciations were mainly software-related.
19. Interest payable and similar costs
    These mainly comprised investment-management costs.
20. Taxation on the result
    For tax-related reasons, ARN Auto Recycling Nederland B.V. constituted a single fiscal entity.