Annual Report 2007 - Muehlhan AG

ManaGeMent divisions share Group ManaGeMent report group Consolidated FinanCial stateMents
Other reserves
other reserves are analyzed as follows:
in kEur 31 December 2007 31 December 2006
revenue reserves 4,903 4,111
Currency translation reserve -1,224 -1,520
revaluation reserve 16 0
reserve in connection with the first-time application of ifrS 589 589
Total 4,283 3,180
in the financial year 2007, in accordance with the resolution on appropriation of profits, Eur 50 thousand was transferred
from retained profits brought forward to the parent company’s revenue reserves.
Retained earnings
in the financial year 2007, no dividends were distributed to shareholders (previous year: Eur 6,865 thousand).
Minority interests
due to the increase in MdK’s shares in MNo from 72% to 100% in January 2007, there are only minority interests in MGr
and MMf at the balance sheet date. MyaG holds 70% of MMf and 51% of MGr. in the reporting year 2007, results totaling
Eur 525 thousand (previous year: Eur 277 thousand) were allocated to other shareholders in these companies.
10. PENSION ACCRUALS
pension accruals amounted to Eur 645 thousand (previous year: Eur 519 thousand). there are no plan assets. of the
total amount some Eur 232 thousand (previous year: Eur 71 thousand) are attributable to companies abroad.
in addition to contributory pension plans which do not result in additional pension obligations apart from current payments
of contributions there are also defined benefit pension plans at two Group companies in Germany which relate almost
entirely (97%) to pension obligations to a retired former managing director of a subsidiary.
the valuation of these accruals was made on the basis of the life expectancy tables “2005 G” of dr Klaus Heubeck by applying
the projected unit credit method under iaS 19. for 2007 and 2006 a discount factor of 5.0% or 4.0% was assumed,
along with future pension payment increases of 1.75% or 0.8%. Since the only person covered by these pension plans
is already retired, there was no need to take future salary increases and fluctuation of personnel into account.
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