Annual Report

Activity Report Daikin Europe N.V.

10

FISCAL YEAR ENDING 31 MARCH 2011

Financial highlights

Daikin Europe N.V. - Consolidated Financial Highlights (in millions of Euro)

Net Sales

2010/2011

2009/2010

2008/2009

2007/2008 2006/2007

1.809,2*

1.614,8**

1.752,1***

1.925,4

1.525,9****

1.803,7

1.613,6

1.750,6

1.925,4

1.516,7

Operating result

179,7

161,9

170,9

192,3

172,7

Profit before tax

182,1

159,3

194,3

192,2

160,3

Net income

126,5

113,5

137,3

131,2

106,0

Total assets

1.212

1.129

1.072

1.069

820

Total equity

774

741

713

585

451

Net Sales (12 months base)

Figures are based on Belgian GAAP * McQuay Hellas S.A. & Rotex Heating Systems S.r.l. (Italy) 3 months additional sales ** Daikin Poland Sp.z. o. o. 15 months *** Daikin Sweden AB 15 months **** Daikin Airconditioning Portugal Distribuiรงao Equipamento Termico SA 15 months

Daikin Industries Limited - Financial Highlights (in billions of YEN)

Net Sales

2010/2011

2009/2010

2008/2009

2007/2008 2006/2007

1.160,3

1.024,0

1.202,4

1.291,1

911,7

Operating result

75,5

44,0

61,4

128,1

80,8

Profit before tax

45,7

38,0

46,0

118,1

83,1

Net income

19,9

19,4

21,8

74,8

45,4

Total assets

1.132,5

1.140,0

1.117,4

1.210,1

1.161,4

Total equity

500,9

510,1

484,5

560,0

410,0

Exchange rate 2010 JPY = 113 EUR/JPY

Content

AC TIVIT Y REPORT DAIKIN EUROPE N.V.

10

05 > 07 > 13 > 22 > Organisation

Highlights

Management perspective

Facts & figures

Activity Report 2010 > Content >

03

Message from the President AFTER TWO YEARS OF ECONOMIC RECESSION, WE COULD SEE THE FIRST

heats up like a conventional radiator. Both introductions confirm our intention to

SIGNALS OF RECOVERY DURING 2010. WE COULD LEAVE THE CRISIS BEHIND US

strengthen our position in the heating market. In the area of new sales routes, we

AND REALISE A SUCCESSFUL SALES RESULT IN THE FOUR PRODUCT PILLARS.

have realised a promising result in emerging markets such as Russia, Turkey and

BESIDES THAT, WE ENJOYED A WARM SUMMER IN A LARGE PART OF EUROPE,

Africa.

WHICH ESPECIALLY BOOSTED THE SALES OF DIRECT EXPANSION PRODUCTS. AS A RESULT, WE ENDED AT A CONSOLIDATED TURNOVER LEVEL OF 1.809 MILLION

Regarding environmental developments, we took up a leadership role. The

EURO, WHICH IS 12% ABOVE THE LEVEL OF FINANCIAL YEAR 2009.

increasing number of environmental laws is seen as new business opportunities. An example is the new standard on Net Zero Energy Buildings. To anticipate these new

I am very proud of this double digit growth figure, as it is the result of continuous

regulations, Daikin Europe N.V. was the first to set up a simulation in an operational

efforts of our workforce and the right strategic choices in the past.

office environment, testing how Daikin technologies can contribute. This office was officially opened in December 2010 and was awarded the German ‘Kältepreis’ for

During the past years, Daikin Europe N.V. took a lot of actions to counter the

energy-efficient, future oriented air conditioning technology.

economical crisis by means of new products and new sales routes. Also during 2010, the same strategy was followed, combined with a focus on environmental

Also in 2011, we will further build on our group’s strengths and continue to work

leadership.

on our renewed long term strategic plans. Although the economic recovery is still fragile in some of our markets, I am confident that together with all stakeholders,

With respect to new products, 2010 was the year of the launch of the ­Daikin

we can dash forward for new growth this year.

­­Altherma Flex Type, an efficient air-to-water heat pump for large residential buildings. Next to that, in October 2010, Daikin Europe N.V. presented Nexura, a

Masatsugu Minaka

new air-to-air heat pump system for heating and cooling with a front panel that

President Daikin Europe N.V.

“ Together with

Masatsugu Minaka, President of Daikin Europe N.V.

04 < Organisation < Activity Report 2010

all stakeholders, we can dash forward for new growth”

Organisation

Board of Directors

situation on 1 May 2011

Assistant Directors

Front row (from left to right):

Back row (from left to right):

Peter Van Den Broecke - Director and General Manager Finance,

Martin Dieryckx - Assistant Director Environment Research Center

Accounting and General Affairs

Jan Cluyse - Assistant Director and Deputy General Manager Sales

Wim De Schacht - Vice President HRM & Corporate/Strategic Planning

Xavier Feys - Assistant Director and Managing Director Daikin A/C Germany GmbH

Frans Hoorelbeke - Chairman, Member of the Board

Geert Vos - Assistant Director and Deputy General Manager Supply Center

Masatsugu Minaka - President

Keiichi Yamazumi - Assistant Director and General Manager Information

Hiroshi Yogo - Vice President Sales and Affiliate Management

Systems and Field Quality Services

Shigeki Morita - Vice President European Manufacturing

Peter Verkempynck - Assistant Director and Managing Director Daikin A/C

Wim Vangeenberghe - Director and General Manager Sales

United Kingdom Ltd.

Jean-Pierre Beuselinck - Director and General Manager Manufacturing

Bart Teerlynck - Assistant Director and Deputy General Manager Manufacturing Filip De Graeve - Assistant Director and Deputy General Manager HRM

NOT ON THE PICTURE: Junichi Sato - Director, Katsuyuki Sawai - Director

Shinichi Nakaishi - Assistant Director and Deputy General Manager Manufacturing

On the background of this picture, origami cranes are visible (cfr. page 12).

Activity Report 2010 > Organisation >

05

Organisation DAIKIN INDUSTRIES LTD The Daikin Europe Group

Daikin Europe N.V. Ireland Office Daikin Europe N.V. Moscow Office Daikin Europe N.V. Middle East office Daikin Europe N.V. Daikin Refrigeration Office Daikin Europe N.V. Hamburg Marine Office

Daikin A/C Belgium N.V.

Daikin A/C Germany GmbH.

Daikin A/C France SAS

Daikin Europe N.V.

Daikin Industries Czech Republic sro

Daikin A/C Spain S.A.

Daikin Europe Coordination Centre N.V.

Daikin A/C Portugal Distribuiçao Equipamento Termico SA

Daikin A/C South Africa (PTY) Ltd.

Daikin A/C Central Europe HandelsgmbH.

Daikin A/C Poland Sp.z o. o.

Daikin A/C Italy SpA

Daikin A/C United Kingdom Ltd.

Daikin A/C Central Europe Slovakia Spol.s.ro

Daikin McQuay Magyarorszag Korlátolt Felelösségü Társaság Gmbh (Hungary).

Daikin A/C Central Europe Czech Republic Spol.s.ro

Daikin A/C Central Europe Romania S.R.L.

Daikin Klima Pazarlama Ltd. Sirketi (Turkey)

Daikin A/C Greece S.A.

Daikin Sweden AB

Daikin A/C Netherlands B.V.

Rotex Heating Systems GmbH

Daikin - McQuay Middle East FZE

McQuay Hellas S.A.

Situation on 31/03/2011

COMPANY PROFILE As a 100% subsidiary of the Japan-listed company Daikin Industries Ltd, Daikin Europe N.V. is the sales and manufacturing headquarter for Europe, Africa and Middle East for Daikin’s air conditioning, heatpump and refrigeration equipment. The mission of the company is to respond to the evolving requirements of its customers for residential, commercial and industrial applications.

In 1972, Daikin Industries Ltd. established Daikin Europe N.V. in Ostend, Belgium in order to explore the European markets. Initially, Daikin Europe N.V. was mainly used as an assembly and distribution centre for Daikin Industries Ltd. During the past decennia, the company has substantially grown as a manufacturer, as well as a sales company.

Since the start up of the factory in Ostend almost 4 decades ago, Daikin Europe N.V. turned into an advanced air conditioning, heatpump and refrigeration production facility that prides itself in being one of the most innovative players in the market. In 2004, Daikin’s production capacity further expanded with the establishment of a production plant in the Czech Republic (Daikin Industries Czech Republic sro). Later on, in 2008, the expansion continued through the acquisition of the German heating manufacturer Rotex Heating Systems GmbH. On the sales side, the company formed its first joint venture in Belgium in 1982. This was the start of an expansion process that transformed Daikin Europe N.V. over the years into a multinational group. In 1987, Daikin Airconditioning France SAS became the first affiliate and during the fol-

06 < Organisation < Activity Report 2010

lowing years, Daikin Europe N.V. acquired many of its distributors, in order to build a powerful sales network throughout the EMEA region.

During 2010, the Rotex organisation was further integrated into the Daikin Europe group. In order to expand Daikin’s heating business in Italy and to limit the overlapping of sales structures, the operations of Rotex Italy were integrated into Daikin Italy. Furthermore in September 2010, Daikin Europe N.V. has acquired McQuay Hellas, previously owned by McQuay Italy. By the end of March 2011, Daikin Europe N.V. achieved a consolidated turnover of 1.809,2 million euro in more than 40 countries, with a net income of 126,5 million euro.

Highlights

Expansion of Daikin’s Product Range

10

May 2010

October 2010

Daikin Altherma for apartment buildings & collective housing

Launch of Nexura

“Efficient air-to-water heat pump technology for large residential buildings” In the first quarter of financial year 2010, Daikin Europe N.V. introduced its renowned air-to-water Daikin Altherma efficiency and comfort on a scale suitable for large (residential) buildings. The Daikin Altherma series for apartment buildings and collective housing is able to efficiently heat, cool and produce domestic hot water. The use of this system results in a 27% reduction in primary energy use, 59% less CO2 emissions and 33% less operating costs compared to an installation with individual gas boilers.

In October 2010, Daikin Europe N.V. presented ‘Nexura’, a new air-to-air heat pump system for heating and cooling. This energy efficient unit has one unique attribute: a front panel that heats up like a conventional radiator and softly releases additional warm air into the room for extra comfort. Inside, the Nexura is packed with state-of-the-art technology. As well as offering heating, cooling and air purification, it combines extreme energy efficiency, with absolute user friendliness, what improves its ecological footprint.

Activity Report 2010 > Highlights >

07

September 2010 Daikin Europe N.V. takes over McQuay Hellas On September 29th, 2010 Daikin Europe N.V. acquired McQuay Hellas, previously owned by McQuay Italy. McQuay Hellas sells McQuay branded unitary products and applied systems directly into the market. For the moment Daikin Europe N.V. will maintain two separate companies in Greece. The McQuay sales approach in the Greek market is different from the approach of Daikin Greece. Both companies will nevertheless work closely together and share the same office.

December 2010 Rotex Italy integrated into Daikin Italy In order to expand Daikinâ&#x20AC;&#x2122;s heating business in Italy and to limit the overlapping of sales structures, the operations of Rotex Italy were integrated into Daikin Italy. As a consequence, the two companies fully benefit from the well-developed back office and sales network of Daikin Italy and the unique heating skills of Rotex Italy. The integration of Rotex Italy took place during the second half of financial year 2010.

08 < Highlights < Activity Report 2010

Highlights

10 December 2010 International Sales Conference JORDAN WAS THE SETTING FOR THE INTERNATIONAL SALES CONFERENCE, WHICH WAS HELD FROM 5 TILL 8 DECEMBER 2010.

Managing directors and senior managers of the Daikin sales companies and distributors were present, as well as members of the top management of Daikin Industries Ltd. - among whom CEO Mr. Inoue. The conference’s main topic was the presentation of Daikin Europe N.V.’s sales strate-

gy for the next five years, ‘Fusion 15’. An important message was the increasing importance of emerging markets to realise the growth ambitions. Hence the choice for Jordan as host country. This was also reflected in the attendance, as there were many guests from the Middle East, Africa, Russia and CIS.

Activity Report 2010> Highlights >

09

December 2010

The Office Building of the Future Daikin Europe N.V. launches international project for commercial net zero energy buildings in Germany By 2019, all new buildings in the European Union must meet the ‘zero energy’ standard. This means that these buildings will have to produce as much energy as they consume, for instance via solar panels or heat pumps. The result: net zero energy consumption and zero carbon emissions.

In anticipation of this milestone, Daikin Europe N.V. and the German companies Zeller GmbH and Athoka GmbH want to know how technologies and materials work together in a commercial net zero energy building.

Therefore, an international research project was launched in Herten, Germany. A newly constructed office was designed according to the ‘zero energy’ concept. This office serves as a ‘live laboratory’, where measurements are taken constantly. A number of major research institutions across Europe are involved in this research project: the French Centre Technique des Industries Aérauliques et Thermiques (CETIAT), the Fraunhofer-Institut für Bauphysik (IBP) and Fraunhofer UMSICHT (Germany), the Technische Universität of Dortmund (Germany) and The University of Manchester (UK). In addition, the German Energy Agency DENA has granted green building certification, making the project part of the EU’s Greenbuilding Programme.

The results of this research project will enable Daikin Europe N.V. to make a major contribution to achieving the EU 2020 climate goals. The net-zero energy building was officially inaugurated on December 14th, 2010 in the presence of Dr Paetzel, mayor of Herten, Mr Kersten, from the Energy Agency of North Rhine-Westphalia and Mr Hoorelbeke, chairman of Daikin Europe N.V. , among others. On March 22nd, 2011 the net zero energy office building received the ’Deutsche Kältepreis’ in Berlin. This annual award for energy-efficient, future-oriented refrigeration and air conditioning technology was given by the German Ministry for the Environment.

010 < Highlights < Activity Report 2010

Highlights

10

On the picture from left to right: Mr Kersten, Energy Agency of State of Northrhine-Westfalia (NRW), Mr Achim Zeller, Zeller Group, Dr Paetzel; Mayor of City of Herten, Mr Hoorelbeke, Chairman, Member of the Board DENV; Mr Thorsten Zeller, Zeller Group, Mr Rauschen, Oeko-Zentrum NRW

Activity Report 2010> Highlights >

011

March 2011

Origami cranes for hope ON FRIDAY, MARCH 11TH 2011, THE PACIFIC COAST OF JAPAN WAS STRUCK BY A POWERFUL EARTHQUAKE. FOLLOWED BY A TSUNAMI, THE EARTHQUAKE CAUSED THOUSANDS OF VICTIMS AND EXTENSIVE STRUCTURAL DAMAGE TO BUILDINGS AND INFRASTRUCTURE.

For our operations in Japan the immediate impact of the earthquake is limited as most Daikin factories are located in Western Japan, near Osaka.

Daikin set up a ‘disaster countermeasure office’, headed by CEO Mr. Inoue, to closely follow-up all information on the disaster and implement support measures for employees, families, customers and business activities.

In support of those affected by the earthquake, the Daikin Group committed donating 100 million yen in monetary aid and approximately 200 million yen in material aid (heating equipment and air filters). Also Daikin Europe N.V.’s employees raised funds with the action ‘Paper cranes for hope’ for the benefit of the International Red Cross providing emergency aid in the Tohoku region. In Japan, where the crane bird symbolises hope, it is commonly said that folding 1.000 paper origami cranes makes a person’s wish come true.

12 < Highlights < Activity Report 2010

Management perspective Net Sales in Mio Euro (12 months base) 2000 1800 1600 1400 1200 1000 800 600 400 200 0

2003

2004

2005

2006

2007

2008

2009

2010

SALES RECOVERY WERE NOTICEABLE DURING FINANCIAL YEAR 2010

resulted in low sales in the Spanish residential market affecting Splits and heating sales. Finally in France, Daikin was faced with a declining heating market.

The Daikin Europe Group realised a turnover of 1.809 million euro, which represents a double digit growth of 12% compared with the previous year and is 3% higher than the sales result of 2008.

Product-wise, Daikin Europe N.V. continued its strategy of focusing on the four business pillars (direct expansion, applied systems, heating and refrigeration). All four pillars realised successful sales results during financial year 2010.

AFTER TWO YEARS OF RECESSION, THE FIRST SIGNALS OF ECONOMIC

When looking more in detail at the individual countries, there is sales growth in most countries. Especially Italy, Russia, the UK and Turkey were outstanding. The reasons for the sales increases are multiple.

In Italy (+24%) and Russia (+138%), the hot summer of 2010 created opportunities for higher Split sales. In the UK (+21%), sales boosted mainly on Sky Air where high sales volumes could be realised through the corporate client route and wholesales. Also the strategic price repositioning of the VRV速 range resulted in a recovery of market share in the UK. Finally in Turkey (+59%), the macro economic conditions were favourable with high GDP growth, resulting in successful sales of numerous VRV速 projects.

On the other hand, in some other countries, sales remained below expectations. In Greece, sales dropped compared with last year as a result of the economic situation. Also Spain is still suffering from unfavourable economic circumstances with high unemployment rates and low end user consumption. This, together with a VAT increase, Activity Report 2010 > Management perspective >

13

direct expansion

For direct expansion, the market conditions were gradually improving again. After several years of weak demand and low construction activity, the recovery has started in the largest part of Europe.

In the residential market, we were able to realise double digit growth of 24% on Split sales. Besides better economic conditions, the hot summer effect in the European market boosted sales, especially in Italy, France, Central Europe and Russia. Moreover, the execution of successful preseasonal sales campaigns in Italy and Spain and the successful introduction of new products such as Daikin Emura enabled Daikin Europe N.V. to realise considerable sales growth.

For the commercial segment, we could realise substantial growth figures on VRVÂŽ and Sky Air. Sky Air sales increased with +7% compared with last year, mainly thanks to higher sales in the UK, France and Spain.

Here, Daikin Europe N.V. has anticipated to changing environmental legislations by launching as the first and until now only manufacturer a unit optimised for seasonal efficiency.

The sales growth on VRVÂŽ (+15%) was mainly realised in emerging markets such as Turkey, where growth in the leisure business, increased the number of hotel projects. Also in the UK, France and Italy, Daikin Europe N.V. could further grow due to the positive economic outlooks that have increased confidence for investments in the commercial construction sector.

14 < Management perspective < Activity Report 2010

applied business

Daikin Europe N.V.â&#x20AC;&#x2122;s second pillar, applied business, enjoyed continued success. As a result of the cooperation with McQuay, Daikin Europe N.V. is able to provide a large product portfolio to the market via a strong distribution network. Next to that, the phase-out of old refrigerants offered the company opportunities for major replacement projects.

Within a declining market for applied systems, Daikin Europe N.V. realised a growth of 112% and gained market share especially on mini chillers and large chillers thanks to the introduction of innovating products such as the invertor mini chiller and global air cooled chiller.

Also on air handling units, Daikin Europe N.V. realised a positive result in 2010 and expects to increase market share by the introduction of an economy range.

Management perspective

heating

For heating, the third pillar, the Daikin Europe Group closed at the same sales level of 2009. The growth of the European heat pump market has slowed somewhat as the oil price has come off its peaks and government incentives for renewable energy were reduced. As a consequence, the sales of the energy-efficient Daikin Altherma heating products are not growing as quickly as expected.

Also, increased competition from heat pump and traditional heating players put pressure on the sales result. However, projections show that environment-conscious solutions will increase in importance and gain market share in the years to come.

Daikin will continue to develop more innovative solutions such as the ground source heat pump and the extension of solar offering, while strengthening our sales structure.

refrigeration

The fourth product pillar, refrigeration, showed a strong performance during 2010. Compared with 2009, sales more than doubled. For Daikin Europe N.V., the main refrigeration market remains in the UK and Germany.

Also in the Netherlands and Belgium, the pillar gained further importance. During 2010, a special project was started in order to force a breakthrough in the German refrigeration market. The project entails nationwide recruitment and an internal reorganisation in order to assure dedicated sales and technical support to new and existing refrigeration customers of Daikin Germany.

To further support the breakthrough in the German refrigeration market, an extensive marketing campaign has been started and success stories and specific case studies have been communicated to the market on regular basis.

Last year, the existing refrigeration range of Conveni Pack and commercial condensing units was extended with ZEAS, a new and highly efficient refrigeration system based on Daikinâ&#x20AC;&#x2122;s VRVÂŽ technology for larger commercial refrigeration systems. Also the industrial condensing units (ICU), based on the J&E Hall single screw compressors, were added in order to complete the range also on the high capacity side.

Thanks to these new developments the product range now covers capacities up to 400kW for medium temperature applications and up to 160kW for freezing applications.

Activity Report 2010 > Management perspective >

15

“Daikin Europe N.V. continues to take its pioneering concern for the environment seriously” ENVIRONMENT DURING 2010, THE ENVIRONMENT RESEARCH CENTRE (ERC) HELD THE 4TH KONWAKAI MEETING BY INVITING AGAIN A GROUP OF EXPERTS FROM UNIVERSITIES, RESEARCH CENTRES, ENERGY SUPPLIERS AND BUILDING CONSTRUCTION SPECIALISTS. DURING THIS MEETING, ENVIRONMENTAL AND LEGISLATIVE DEVELOPMENTS ARE DISCUSSED AS WELL AS POSSIBLE LOW ENERGY SOLUTIONS. THIS YEAR, THE MAIN EMPHASIS WAS ON THE FURTHER IMPROVEMENT OF NET ZERO ENERGY BUILDINGS.

Konwakai Nürnberg

16 < Management perspective < Activity Report 2010

To enhance the environmental awareness in the sales companies, Daikin Europe N.V. organised the 7th annual environmental conference. This year, the conference was mainly focused on the Member States implementation of different environmental and energy legislations.

During the Chillventa trade fair in Nürnberg, Germany, the Daikin’s ERC presented the “Road to next Generation Refrigerants”. As a responsible stakeholder in the air conditioning and heat pump sector, Daikin Europe N.V. continues to take its pioneering concern for the environment seriously. In the production of its units, Daikin Europe N.V. currently uses mainly HFC refrigerants R-410A/R-134a.

Although these will remain good choices in the future, Daikin Europe N.V. intends to add more options to this list, for which research is on going. For direct expansion systems in particular, R-32 for example has some assets such as a lower global warming potential, increased energy efficiency and reduced refrigerant charge.

Daikin is committed to providing the markets with as much information as possible on the new developments so that the best decisions can be made in function of the specific application.

Management perspective Days of stock = (stock / [operating charges- movements on stock])* 365 100 80 60 40 20 0 2006

2007

2008

2009

2010

10

SUPPLY CHAIN MANAGEMENT DURING 2010, THE CONSOLIDATED INVENTORY LEVEL INCREASED WITH 5,9 MIO EURO TO A LEVEL OF 291,8 MIL-

The stock value could be kept under control thanks to the further improvement of sales forecasting and the continuation of the European stock integration project â&#x20AC;&#x153;Velvetâ&#x20AC;?.

LION EURO. THE NUMBER OF STOCK DAYS FELL FROM 71 IN MARCH 2010 TO 65 DAYS IN THE SAME MONTH IN 2011.

During the past years, this project was started to redesign the distribution network and reduce the number of warehouses in Europe. Instead of having country-specific warehouses, product deliveries are done from a limited number of international warehouses.

Step by step, this new approach is being rolled out all over Europe. During 2008 and 2009, warehouses in the United Kingdom, Germany, Poland and Central Europe were integrated.

During 2010, Velvet was further rolled out in France. Thanks to this, Daikin Europe N.V. was able to limit the total inventory in Europe and increase the service to our customers.

Next to that, the logistical cost ratio could be kept at an acceptable level. Even with an increase of ocean freight and fuel costs, logistic costs as percentage of turnover decreased 3% compared to last year. The supply cost per volume unit is now 18% lower than five years ago.

The reductions are mainly thanks to improved tendering and contract discussions, improved efficiency in the supply chain and stock control.

Activity Report 2010 > Management perspective >

17

PRODUCTION DURING FINANCIAL YEAR 2010, THE PRODUCTION PLANT IN OSTEND EXPERIENCED A FIRST RECOVERY IN PRODUCTION VOLUMES AFTER TWO YEARS OF DECLINE. ALTHOUGH THE PRODUCTION VOLUMES ARE NOT AT A PRE-CRISIS LEVEL, THE OSTEND FACTORY WAS ABLE TO RESPOND IN A FLEXIBLE WAY TO THE MARKET DEMAND IN COMBINATION WITH NORMAL INVENTORY LEVELS. IN ADDITION, THE PLANT COULD FOCUS AGAIN ON CONTINUOUS IMPROVEMENT OF PROCESSES, OPERATIONS AND PRODUCT LINE-UP.

The Ostend Manufacturing division has been further expanding the product line-up, especially in the heating range. As such, the Daikin Altherma LT compact, an integrated low temperature heating solution, has been successfully launched during the past year. Similarly, in July 2010, Daikin Europe N.V. introduced the new Daikin Altherma Flex Type, a VRV® based air-to-water high temperature heating application for apartments and commercial buildings. Furthermore, development teams have created new convector indoor models for Daikin Altherma applications and a domestic hot water heat pump, supplying sanitary hot water. In view of the VRV® development, attention was paid to solutions for commercial and public buildings. In this respect, VRV®’s are now connectable with Daikin Altherma products, efficiently supplying sanitary hot water and under floor heating.

18 < Management perspective < Activity Report 2010

DENV

Also in the Manufacturing Division in the Czech Republic (DICz), the year was marked by a strong increase in production volumes. Besides the quantitative growth, also the DICz product portfolio was extended. In April 2010, the Czech plant started with the production of Slim Duct models for commercial applications. A new assembly line for these models was constructed.

In the ROTEX factory, the production volume increased during financial year 2010, meeting the growing demand in its main markets, being Germany and Italy. Investments were made to enhance the efficiency in logistic operations and to increase the production capacity and install automated quality control for the underfloor piping line. Financial Year 2010 also marked the launch of the compact HeatPumpSolarUnit, which combines

Management perspective

10

DICZ

ROTEX

ROTEX know-how of the domestic hot water tank with the heatpump technology in the Daikin Group.

quences of the earthquake and tsunami which took place in Japan on March 11th, 2011.

In all factories, production cost proved to be very challenging in financial year 2010. Especially during the second half of the year, steep increases in raw material prices were noted. Price levels of steel, copper, plastics, refrigerants and electronic components have significantly increased, putting strong pressure on the product cost level. Fortunately, cost benefits from process improvements and overhead ­efficiency gains were able to partially compensate these price increases in raw material.

Next to the enormous human suffering caused by this catastrophe, also infrastructural damage disrupted the supply organisation of Japan to a certain extent. This caused concerns regarding the supply of specific components for Daikinâ&#x20AC;&#x2122;s European factories. However, thanks to the prompt reaction and creativity of Daikinâ&#x20AC;&#x2122;s suppliers and own personnel, the company has been able to overcome these issues and secure the availability of the products to the market as much as possible.

At the end of financial year 2010, Daikin was confronted with the conseActivity Report 2010 > Management perspective >

19

HR & ORGANISATION DURING THE PAST FINANCIAL YEAR, A NUMBER OF STRATEGIC RECRUITMENTS WERE DONE FOR THE HEAD OFFICE AND SALES COMPANIES. TO ATTRACT EXPERIENCED PROFILES WITH THE RIGHT COMPETENCES, THE COMPANY FURTHER DEVELOPED ITS EMPLOYER BRANDING AND LABOUR MARKET COMMUNICATION IN LINE WITH THE COMPANY CULTURE AND CORPORATE IDENTITY. THE TOTAL MANPOWER OF THE DAIKIN EUROPE GROUP AMOUNTED TO 3.662 IN 2010, UP FROM APPROXIMATELY 3.500 IN 2009.

For factory workers, the company focuses on a flexible alignment of the production capacity and manpower planning with the changing sales demand. As sales gradually recovered during the past financial year, also the production capacity was again slowly built-up with interim and temporary personnel.

At Daikin Europe N.V. we believe that the development of our employees is key for the further development and growth of our organisation.

Therefore, our international training centre, the Daikin Europe Academy, continuously evolves in line with the strategic direction of our company.

To optimally support the business, the academy organises training courses for employees as well as distributors from the entire Daikin Europe Group.

20 < Management perspective < Activity Report 2010

During the past year a new online training tool was launched, to organise interactive, international training courses in a cost-efficient way. In a first stage, a number of ‘webinars’ were successfully set-up for the Daikin service engineers.

In line with Daikin’s Kaizen-spirit of continuous improvement, for the second time a personnel perception survey was held in the European headquarters.

Based on the output of this survey, actions are taken both on department and company level to further improve as employer and optimally support the development and professional well-being of the employees.

Management perspective

10

Activity Report 2010 > Management perspective >

21

CONSOLIDATED INCOME STATEMENT

year ended March 31, 2011 Figures are based on Belgian GAAP

in thousands Euro

I. OPERATING INCOME

2010/2011

2009/2010

1.819.415

100,6 %

1.551.061

96,1 %

1.809.203

100,0 %

1.614.842

100.0 %

B. Movement stock of finished goods and work in process

-7.697

-0,4 %

-72.368

-4,5 %

C. Other operating income

17.909

1,0 %

8.587

0,5 %

-1.639.729

-90,6%

-1.389.069

-86,0 %

-1.008.694

-55,8 %

-778.699

-48,2 %

B. Services and other goods

-374.428

-20,7%

-369.494

-22,9 %

C. Remunerations, social security and pensions

-218.522

-12,1 %

-214.271

-13,3 %

-38.085

-2,1 %

-26.605

-1,6 %

179.686

9,9 %

161.992

10,0%

2.210

0,1%

-4.693

-0,3 %

181.896

10,1 %

157.299

9,7 %

290

0,0 %

2.062

0,1 %

182.186

10,1 %

159.361

9,9 %

-2.080

-0,1 %

-2.971

-0,2 %

-53.584

-3,0%

-42.854

-2,7 %

126.522

7,0 %

113.536

7,0 %

A. Turnover

II. OPERATING CHARGES A. Raw materials, consumables and goods for resale

D. Others

III. OPERATING PROFIT/LOSS Financial result

VI. PROFIT/LOSS ON ORDINARY ACTIVITIES Extraordinary result

IX. PROFIT/LOSS BEFORE TAXATION X. Transfer from/to deferred taxes XI. Income taxes

PROFIT

22 < Facts & figures < Activity Report 2010

Facts & figures

COMMENTS ON THE INCOME STATEMENT The Consolidated Turnover for financial year 2010 amounts to 1.809 million euro, compared to 1.614,8 million euro in the previous financial year. This growth of 12,0% is achieved by a sales increase in emerging markets like Russia, Turkey, North-Africa and improved sales of affiliates such as Italy, the UK and Germany.

The Operating Charges increase with 18,0% from 1.389 million euro to 1.640 million euro. Expressed as percentage of turnover, operating charges have increased 4,6% compared to last year.

With respect to raw materials, consumables and goods for resale, the increase can mainly be attributed to lower sales to high margin countries and the strengthening of the Japanese Yen. In addition, raw material prices have substantially increased, despite the various efforts of the factory cost down teams. Finally, also the severe competition put pressure on sales prices especially in countries hit most by the economic

crisis. Services and Other Goods slightly increase with 4,9 million euro compared to last year. However, as a percentage of turnover, these expenses result 2,2% lower than last year thanks to profound cost monitoring. Labour costs amount to 218,5 million euro in 2010, which is an increase of 2%. This evolution can mainly be attributed to new recruitment and natural labour cost increases.

After 2 years of consecutive profit decline, in 2010, the Operational Profit increases from 162,0 million euro to 179,7 million euro (+ 10,9%).

After taken into account the Financial and Extraordinary Result and the Taxes, the Net Result for financial year 2010 increases from 113,5 million euro to 126,5 million euro. This positive evolution can mainly be attributed to the sales increase that was achieved during the past financial year.

Activity Report 2010 > Facts & figures >

23

COMMENTS ON THE BALANCE SHEET Fixed Assets (after depreciations) decrease from 185,9 million euro to 169,3 million euro mainly because of depreciations on goodwill of historical acquisitions. In 2010, new investments were done for approximately 19,9 million euro, mainly in the production plants of Ostend, Plzen and G端glingen.

Current Assets increase to a level of 1.043 million euro mainly driven by changes in amounts receivable within one year, investments and cash.

The amounts receivable within one year increase in line with the higher

turnover in the last quarter of financial year 2010. Investment and Cash increase with 69,7 million euro thanks to a positive and increased free cashflow.

Compared with last year, the stock amount slightly increase with 2,1% to an amount of 291,9 million euro. During the past year stock has been kept under control by accurate sales forecasting and centralisation of the inventory.

CONSOLIDATED BALANCE SHEET

year ended March 31, 2011 Figures are based on Belgian GAAP

ASSETS (in thousands Euro)

2010/2011

2009/2010

169.311

185.934

II. Intangible assets

24.898

28.710

III. Consolidation differences

38.170

46.527

IV. Tangible assets

102.560

108.096

V. Financial assets

3.683

2.601

1.043.395

942.748

3.177

3.514

VII. Stock

291.875

285.916

VIII. Amounts receivable within one year

462.971

437.875

IX. Investments

189.562

142.756

90.852

67.924

4.958

4.763

1.212.706

1.128.682

FIXED ASSETS

CURRENT ASSETS VI. Amounts receivable after one year

X. Cash XI. Deferred charges and accrued income TOTAL

24 < Facts & figures < Activity Report 2010

Facts & figures At liability side, there is an increase of the Net Equity with 33,0 million euro. This mainly reflects the yearly profit allocation of 126 million euro and the dividend payment to Daikin Industries Ltd. of -95,5 million euro.

Creditors increase with 50,7 million euro to a level of 393,0 million euro, mainly on amounts payable within one year increased. This increase was mainly driven by higher trade debt as a result of increased production quantities.

LIABILITIES (in thousands Euro) CAPITAL AND RESERVES I. Capital IV. Consolidated reserve V. Consolidation differences VI. Translation differences VII. Investments grants MINORITY INTERESTS PROVISIONS IX.A. Provisions for liabilities and charges IX.B. Deferred tax and latent taxation liabilities CREDITORS X. Amounts payable after one year XI. Amounts payable within one year XII. Accrued charges and deferred income TOTAL

2010/2011

2009/2010

774.145

741.104

57.500

57.500

709.577

679.080

0

0

7.058

4.514

10

10

1.575

1.092

43.962

44.214

36.654

34.935

7.308

9.279

393.024

342.272

1.129

5.960

341.830

284.149

50.065

52.163

1.212.706

1.128.682

Activity Report 2010 > Facts & figures >

25

Country

Company

Address

Phone

Fax

Website

Belgium

Daikin Europe N.V.

Zandvoordestraat 300, 8400 Oostende

32 59558111

32 59558899

www.daikin.eu

Belgium

Daikin Europe N.V. Brussels office

‘The Bridge’ – Coca Cola Building Steenweg op Bergen 1424 – Chaussée de Mons - 1070 Brussel

32 25296111

32 25296166

www.daikin.eu

DAIKIN EUROPE FACTORIES Country

Company

Address

Phone

Fax

E-mail

Belgium

Daikin Europe N.V.

Zandvoordestraat 300 8400 Oostende

32 59558111

32 59558899

info@daikineurope.com

Czech Republic

Daikin Industries Czech Republic s.r.o.

U Nové Hospody 1 301 00 Plzeň

420 378 773 112

420 378 773 198-199

office@daikinczech.cz

Daikin Device Czech Republic s.r.o. (part of DENV as from 01/04/11)

Švédské valy 2

420 517 547 310

420 517 547 340

prace@daikinbrno.cz

Rotex Heating Systems GmbH

Langwiessenstrasse 10 74363 Güglingen

49 71351030

49 7135103200

info@rotex.de

Germany

REPRESENTATIVE OFFICES Country

Company

Address

Phone

Fax

E-mail

Germany

Daikin Europe N.V. Hamburg Marine Office

Stresemannstrasse 342 22 761 Hamburg

49 40 890 609-0

49 40 890 60910

infomarine@daikineurope.com

Ireland

Daikin Europe N.V. Ireland Office

Unit 1, Orchard Business Centre Orchard Avenue City West, Dublin 24, Ireland

353 16 42 34 30

353 16 42 34 31

info@daikin.ie

Netherlands

Daikin Europe N.V. Daikin Refrigeration Office

Fascinatio Boulevard 562 2909 VA Capelle aan den Ijssel

31 102862090

31 102862099

Arjan.Bezemer@daikinreefer.com

Russia

Daikin Europe N.V. Moscow Office

Alekseevskaya Tower 16 Raketny bld - 129164 Moscow

7 4957872782

7 4957872762

info@daikin.ru

UAE

Daikin Europe N.V. Middle East Office

P.O. Box 18674 Jebel Ali Free Zone Dubai

971 4 8110300

971 4 8110311

info@daikinme.com

AFFILIATED DISTRIBUTORS Country

Company

Address

Phone

Fax

E-mail

Austria

Daikin Airconditioning Central Europe HandelsgmbH

Campus 21 – Business Park Wien Süd Europaring F12/402 2345 Brunn am Gebirge

43 223632557

43 223632557-900

office@daikin.at

Bulgaria

Daikin Airconditioning Central Europe HandelsgmbH

Campus 21 – Business Park Wien Süd Europaring F12/402 2345 Brunn am Gebirge

43 223632557

43 223632557-900

office@daikin.at

Belgium

Daikin Airconditioning Belgium N.V.

Avenue Franklin 1 B 1300 Waver

32 10 237223

32 10 244910

info@daikin.be

Czech Republic

Daikin Airconditioning Central Europe Czech Republic Spol. s.r.o.

Budova IBC – Pobrežní 3, 186 00 Praha 8

420 221715700

420 221715701

office@daikin.cz

Croatia

Daikin Airconditioning Central Europe Predstavništvo u Republici Hrvatskoj

Budmanijeva 5 – HR 10000 Zagreb

385 16065850

385 16065870

office@daikin.hr

France

Daikin Airconditioning France SAS

ZA du Petit Nanterre 31, rue des Hautes Pâtures Le narval – Bâtiment B 92737 Nanterre – Cedex

33 146699569

33 147214160

contact@daikin.fr

26 < Facts & figures < Activity Report 2010

Contact list AFFILIATED DISTRIBUTORS Country

Company

Address

Phone

Fax

E-mail

France

ROTEX Heating Systems SARL

1, rue des Artisans 68280 Sundhoffen

33 3 89 21 74 70

33 3 89 21 74 74

info@rotex.fr

Centre Regional Termic SAS

ZA des Bertins 49125 Tiercé

33 2 41 31 16 40

33 2 41 31 16 41

info@crt-rotex.fr

Daikin Airconditioning Germany GmbH

Inselkammerstrasse 2 82008 Unterhaching (München)

49 89744270

49 8974427299

info@daikin.de

Rotex Heating Systems GmbH

Langwiessenstrasse 10, 74363 Güglingen

49 71351030

49 7135103200

info@rotex.de

Daikin Airconditioning Greece S.A.

50 Ag. Konstantinou street 151 24 Maroussi - Athens

30 2108761300

30 2108761400

info@daikin.gr

McQuay Hellas S.A.

50, Ag.Konstantinou St. 15124 Maroussi Athens

30 210 9311440

30 210 9311441

mcquayhellas@mcquay.gr

Hungary

Daikin McQuay Magyarország Kft.

Fehérvári u. 84/a HU-1117 Budapest gyarország

36 14644500

36 14644501

office@daikin-mcquay.hu

Italy

Daikin Air Conditioning Italy S.p.A.

Via Milano, 6 20097 San Donato, Milanese

39 02516191

39 0251619222

info@daikin.it

Moldova

Daikin Airconditioning Central Europe Romania SPRL

Calea FLoreasca 169A, Corp B, etaj 8 RO-014459 Bucuresti

40 213079700

40 213079729

office@daikin.ro

Netherlands

Daikin Airconditioning Netherlands B.V.

Fascinatio Boulevard 562 2909 VA Capelle aan den IJssel PO 8585, 3009 AN Rotterdam

31 883245460

31 883245469

info@daikin.nl

Poland

Daikin Airconditioning Poland Sp.z.o.o.

Ul. Tasmowa 7 02-677 Warszawa

48 223199000

48 224335198

office@daikin.pl

Portugal

Daikin Airconditioning Portugal Distribuiçao Equipamento Termico S.A.

Edifício D. Maria I Piso 0 ala A/B Quinta da Fonte 2770-229 Paço de Arços

351 214268700

351 214262294

info@daikin.pt

Romania

Daikin Airconditioning Central Europe Romania S.R.L.

Calea FLoreasca 169A, Corp B, etaj 8 RO-014459 Bucuresti

40 213079700

40 213079729

office@daikin.ro

Slovakia

Daikin Airconditioning Central Europe Slovakia Spol.s.ro

Galvaniho 15/C 821 04 Bratislava

421 2571032

421 257103299

office@daikin.sk

South Africa

Daikin Air Conditioning South Africa (PTY) Ltd.

Unit 1 & 2, Edison Way Century Gate Business Park Montague Gardens 7441 Cape Town

27 215283500

27 215526844

headoffice@daikin.co.za

Spain

Daikin Airconditioning Spain S.A.

Calle Labastida 2 28034 Madrid

34 913345600

34 913345630

marketing@daikin.es

ROTEX Heating Systems S.L.U.

Mitger, Nau 2 P.I. La Masia 08798 Sant Cugat Sesgarrigues (Barcelona)

34 93 8 99 20 61

34 93 8 99 20 63

info@rotex-heating.com

Sweden

Daikin Sweden AB

Björnstigen 87 169 03 Solna

46 856485540

46 856485550

info@daikin.se

Turkey

Daikin Klima Pazarlama Limited Sirketi

Maslak Mah. Meydan Sok. Beybi Giz Plaza Kat:8 34396 Maslak Istanbul

90 212 2903030

90 212 2903031

info@daikin.com.tr

UAE

Daikin - McQuay Middle East FZE

P.O. Box 18674 Jebel Ali Free Zone Dubai

971 4 8110300

971 4 8110311

info@daikinme.com

UK

Daikin Airconditioning UK Limited

The Heights, Brooklands KT13 0NY Weybridge, Surrey

44 8456419300

44 8456419319

sales@daikin.co.uk

Germany

Greece

Activity Report 2010 > Facts & figures >

27

DISTRIBUTORS Country

Company

Address

Phone

Fax

E-mail

Cyprus

Phanos N. Epiphaniou Public Ltd.

Marcou Drakou 21 Pallouriotissa 1621 Nicosia

357 22793333

357 22431534

daikin@epiphaniou.com

Denmark

BKF-Fklima A/S

Tempovey 18-22 2750 Ballerup

45 70265666

45 70260223

daikin@bkf-klima.dk

Finland

Recair Oy

Mukulakuja 3 04300 Tuusula

358 29006120

358 290065800

info@recair.fi

Ghana

Packplus Int. Ltd.

Focus House 4 Second Crescent Asylum Down, Accra

233 21232443

223 21227368

packplus@4u.com.gh

Jordan

Arab Technical Group

P.O. Box 830450 11183 Amman

962 65517711

962 65541798

info@atgco.com

Kenya

Coolxtreme Ltd.

Eden Square PO Box 10731 00100 Nairobi

254 203750420

254 203750625

info@coolxtreme.com

Lebanon

Refredgeration & Conditioning Company

Clemenceau - Minkara Building -5th floor 961 Beirut

961 1367138

961 1378862

info@rccdaikin.com

Malta

M.A.&A Service Ltd.

C/O 55, Racecourse Street Marsa MRS 2919

356 21220715

356 21221351

marc@maandaservltd.com

Norway

Friganor A/S

Grenseveien 65 0663 Oslo

47 23245950

47 23245951

post@friganor.no

Russia

Thermotrade

100 str. 2 Dmitrovskoe shosse 127247, Moscow

7 4956385388

7 4956461426

info@thermotrade.ru

DAC

212, Moskovsky prospect 196066 Saint-Petersburg

7 812 327 9323

7 812 327 9323

info@dacnw.ru

Daichi

Zvenigorodskoe Shosse 9 123022 Moscow

7 495 737 3733

7 495 737 3732

info@daichi.ru

Switzerland

TCA Thermoclima AG

Piccardstrasse 13 9015 St. Gallen

41 713139922

41 713139929

info@tca.ch

Syria

Air Space Tech

Abo Remaneh-Misaloun Street Building 15 ground floor, Damascus

963 11 333 6884

963 113327566

Mh1@svdam.com

Togo

ADTF Sarl

128 Blvd jean Paul 2 BP 30720 Lomé Togo

228 2611197

228 2611197

d_adtf@yahoo.fr

UK

Space A/C PLc

Willway Court 1 Opus Park, Moorfield Road GU1 1SZ Guildford

44 1483504883

44 1483574835

info@spaceair.co.uk

Ukraine

Leacond

10-A, Yakira Str. 04119 Kiev

380 442386121

380442386120

office_daikin@leacond.com.ua

28 < Facts & figures < Activity Report 2010

Contact list OTHERS Country

Company

Address

Phone

Fax

E-mail

Algeria

Gaco S.A.R.L

28, rue Bencharif Madani Bellevue 25016 Constantine

213 31667676

213 31667517

Gaco_gaco@hotmail.com

Armenia

Technoterm LLC

Ayasi Street 16, 0082 Yerevan

37 410 589295

37 410 589295

info@technotherm.am

Azerbaijan

Bakond

18a Academician A. Radjabli str.

AZ1052 Baku

994 12 4656394

994 12 4656397

rustamh@bakond.com

Eurodecor

Babek Avenue 28 E AZ1142 Baku

994 124906545

994 124906545

eurodecor@eurodecor.az

Belarus

iCond Ltd.

Melezhastreet, 5/2, Office 803 220113 Minsk

375 17 2876510

375 17 2876510

office@icond.by

Benin

SEIB SA

Rue du Gouverneur William PONTY (Lieu dit de GANHI) 01 BP472 Cotonou BENIN

+229 21 31 33 04

+229 21 31 35 93

ggnacadja@seib-sa.com

Burkina Faso

S.E.E.E Burkina Faso

Bureaux Avenue Zoalga, Coté Sud de la gare Sogebaf 01 BP 461 Ouagadougou 01

226 50344020

226 50344021

info@daikinafrica.com

EZOF

11 BP 1674 CMS Ouaga 11 Burkina Faso

226 70203657

226 50330194

info@daikinafrica.com

AREC

01 BP 6069 Ouagadougou 01, Burkina Faso

226 50372198

226 50372015

babacarsy.sarec@fasonet.bf

2@K

Rue Bebey Eyidi Douala BP 12719 Douala

237 33436881

237 33436882

2aak@wanadoo.fr

Omnium Service

15474 Douala

237 33377482

237 33377483

Africacool sprl

228 Av. Colonel Mondjiba, Kinshasa/ Ngaliema

243 817560674

243 898247899

Electro cool

53 Avenue de la Justice, Kinshasa

32 475 705 969

DRC

Codisco Distribution

BP 459 Pointe Noire

242 066509261

242 222940780

info@daikinafrica.com

Egypt

EGICAT

19 Amer Straat St. Messha Offie Messaha Square, Dokki, Cairo

202 33367124

202 7608795

info@egicat.com

Estonia

DAC oü

Filmi 6, 101 52 Tallinn

372 7769000

372 7769002

info@dac.ee

Finland

Warla Trade Oy

Petikontie 20, 1720 Vantaa

358 29006180

358 290061180

warla.vantaa@warlatrade.fi

Onninen Oy

Mittalinja 1 1260 Vantaa

358 204855111

358 204855000

Gabon

ETDE Gabon

BP 305, Libreville

241 76 20 80

241 76 20 98

jc.truilhe@sogec.etde.fr

Gambia

Multitrade

19, kairaba Avenue, KMC, Banjul P.O. Box 2633 S/K

220 4395242

220 4374694

info@multitrade.gm

Georgia

Georgian Climat Service Ltd.

12 Vazisubani Street 0160 Tbilisi

995 32911478

995 32911478

Climat.post@gmail.com

Ivory Coast

Aftec

Boulevard de Gabon, Lot 35 Marcory Abidjan

225 21268313

225 21268313

info@daikinafrica.com

S.E.E.E Côte D’Ivoire

Zone industrielle de Vridi, 15, Rue de la Métallurgie Z.I.BP 342 Abidjan 04, II Plateaux vallon, residence cite de la paix, villa 21

225 21275157

225 21272265

info@daikinafrica.com

RICA Services

15, rue des Brasseurs, Zone 307BP 43 Abidjan 07

225 212 58526

225 212 56991

info@daikinafrica.com

Groupe X-sens Envergure

Il plateaux vallon, Résidence cité de la paix Villa 21

225 07265071

225 22418398

La Zeste Dynamique

bd de Gabon. Marcory, 17 bp 59 Abidjan 17

225 20311440

Cameroun

Congo

info@daikinafroca.com pierre.dumont@vodanet.cd

Activity Report 2010 > Facts & figures >

29

Contact list OTHERS Country

Company

Address

Phone

Fax

E-mail

Kazakhstan

Robert Bosch TOO

Sejfullina Str. 51 office 10 050037 Alma-Ata

7 727 2323707

7 727 2511336

info@bbt.kz

Geliocity-Astana

117 Prospect Abaya 010000 Astana

3172 214555

3172 214555

info@heliocity.kz

Kyrgystan

ATC LLC

Gorkogo 1a, 722001 Bishkek

996 312531294

Latvia

Indutek LV

Granita str. 26 Riga, LV-1057

371 7804949

371 67804948

Lebanon

22 Degrees S.A.L.

Antonios el-Khazen Bldg, el- Midan St. Dekwahneh, Achrafieh

961 1498422

961 1498022

Libya

Etrac

22 Bis, Rue 8609 - Z.I. La Charguia I-2035 - Tunis- Carthage

+216 71 800 766

+216 71 801 522

nebil.braham@etrac.com.tn

Aircan

15 – Afghani Street off first September StPOB 14 85 TRIPOLI

218 91 378 41 34

218 021 4441803

a.alaswad@aircan.com.ly

Nesma for Importing Heating & Air

Abu Hareeda, Tripoli

218 213341863

218213371386

brian.ibr@nesna.com.ly

Lithuania

UAB Industek

Dariaus ir Girenostr. 107 2189 Vilnius

3705 2700225

3705 2700227

info@industek.lt

Mali

RICA Mali

Rue Nelson Mandela 03 B.P. 54 Bamako

223 2212235

223 2214553

rica.mali@afribonemali.net

EFICA

BPE 184, Bamako

223 20226129

223 20228196

Morocco

Berdic SARL

Avenue Mohammed VI imm. Borj Khalij 9000 Tanger

212 39940850

212 39941530

berdic@menara.ma

Senegal

Le Froid Sarl

MD – Km 4, BD du Centenaire de la Commune BP 6734 Dakar Etoile

221 33 8321765

221 338321773

info@daikinafrica.com

SEEE Senegal

Lot N°64 Route du front de Terre BP 75570, Dakar Medina

221 33 8276529

221 338276528

info@daikinafrica.com

SGE equip

Sicap amitié 3 n° 4373 BP 3110, Dakar

221 8240788

221 338240786

info@daikinafrica.com

Sherdin Engineering

P.O. Box 1978, PLOT NO 24 Nypere road, Dar Es Salaam

255 222863731

255222863212

info@sherdin.com

Clim Confort Service

22 Bis, rue d’Energie Atomque Z.I. Chargua 1 2035, Tunis- Charthage

216 71800766

216 71801522

CCS@CSS.com.tn

Export and Trade Company

22 Bis, rue 8609, Z.I. La Charguia I, 2035 Tunis Charthage

216 71800766

21671801522

nebil.braham@etrac.com.tn

Turkmenistan

Ussat Engineering

Parahat 4/2 Builing 43, block 6 744017 Ashgabat

993 12 28 12 00

993 12 28 12 02

info@ussat.tm

Uganda

Thermocool

Plot 15/17 Industrial area 2nd Street P.O. Box 31542 Kampala

256 414255915

256 414254510

info@thermocool.co.ug

Ukraine

DAICHI-Ukraine

1, Narodnogo Opolcheniya Str. 03151 Kiev

380 444902000

380 44952878

info@daichi.ua

Aircond

Prosp. Otradniy 95 k, 03061 Kiev

380 444943920

380 444902252

info@air-cond.com.ua

Ventr. OOO

Durmon Str.29 Institute of Mathematics 100125 Tashkent

998712629261

99872629261

ventr@tps.uz

Tanzania

Uzbekistan

30 < Facts & figures < Activity Report 2010

valeriy_lee@artika.kg office@industek.lt

Daikin Europe N.V. Daikin Europe Coordination Center

Daikin Airconditioning Netherlands B.V. Daikin Europe N.V. Daikin Refrigeration Office Daikin Sweden AB Daikin Europe N.V. Moscow Office

Daikin Airconditioning UK Limited

Daikin Airconditioning Poland Sp.z o.o.

Daikin Europe N.V. Ireland Office

Daikin Airconditioning Central Europe Slovakia spol. s r.o.

Daikin Airconditioning Belgium N.V. Daikin Europe N.V. Brussels Office

Daikin McQuay Magyarorszag Korlátolt Felelösségü Társaság GmbH

Daikin Airconditioning France SAS

Daikin Airconditioning Central Europe Romania S.R.L.

Daikin A C Spain S.A.

Daikin Klima Pazarlama Limited Sirketi

Daikin Airconditioning Portugal

Daikin Airconditioning Greece S.A.

Distribuiçao Equipamento Termico S.A. McQuay Hellas S.A. Daikin Air Conditioning Italy S.p.A.

Daikin Industries Czech Republic s r.o.

Rotex Heating Systems GmbH Daikin Europe Hamburg Marine Office Daikin Airconditioning Germany GmbH Daikin Airconditioning Central Europe HandelsgmbH. Daikin Airconditioning Central Europe Czech Republic Spol s.r.o.

The Daikin Europe Group is a part of Daikin Industries Ltd. Umeda Center Bldg. 4-12, 2-chrome Nakazaki-Nishi Kita-ku, Osaka 530-8323, Japan Daikin Air Conditioning South Africa (PTY) Ltd.

Daikin Europe N.V. Middle East Office Daikin McQuay Middle East FZE

<

The present leaflet is drawn up by way of information only and does not constitute an offer binding upon Daikin Europe N.V.. Daikin Europe N.V. has compiled the content of this leaflet to the best of its knowledge. No express or implied warranty is given for the completeness, accuracy, reliability or fitness for particular purpose of its content and the products and services presented therein. Specifications are subject to change without prior notice. Daikin Europe N.V. explicitly rejects any liability for any direct or indirect damage, in the broadest sense, arising from or related to the use and/or interpretation of this leaflet. All content is copyrighted by Daikin Europe N.V.

new code?

ECPEN10-601

Daikin Europe N.V. participates in the Eurovent Certification Programme for Air Conditioners (AC), Liquid Chilling Packages (LCP) and Fan Coil Units (FC); the certified data of certified models are listed in the Eurovent Directory. Multi units are Eurovent certified for combinations up to 2 indoor units.

ECPEN11-601 Naamloze Vennootschap - Zandvoordestraat 300, B-8400 Oostende - Belgium - www.daikin.eu - BE 0412 120 336 - RPR Oostende

ECPEN11-601 • 1500 • 09 /10 • Copyright Daikin The present publication supersedes ECPEN10-601 Printed on non-chlorinated paper. Prepared by Apunta, Belgium Resp. Ed.: Daikin Europe N.V., Zandvoordestraat 300, B-8400 Oostende

Daikin’s unique position as a manufacturer of air conditioning equipment, compressors and refrigerants has led to its close involvement in environmental issues.

For several years Daikin has had the intention to become a leader in the provision of products that have limited impact on the environment. This challenge demands the eco design and development of a wide range of products and an energy management system, resulting in energy conservation and a reduction of waste.