OFFERING MEMORANDUM Global Offering of up to ... - Nordex

(Combined)
pro forma STATEMENTS OF CHANGES IN EQUITY
according to IAS
in a subsumed 3-year presentation
for the twelve months ended September 30, 2000
for the twelve months ended September 30, 1999
for the twelve months ended September 30, 1998
1999/00
pro forma
1998/99
pro forma
1997/98
pro forma
E E E
Equity at beginning of fiscal year 12,662,799.00 7,146,341.00 5,162,077.09
Capital stock
annual opening balance 231,561.92 206,561.92 206,561.92
addition from the formation of Südwind Borsig Energy
GmbH, Oberhausen 0.00 25,000.00 0.00
additions from initial inclusion of Borsig Rotortechnik
GmbH, Rostock, in the consolidation group and
formation of Taifun AG, Oberhausen 75,000.00 0.00 0.00
annual closing balance 306,561.92 231,561.92 206,561.92
Additional paid-in capital
annual opening/closing balance 6,047,049.08 6,047,049.08 6,047,049.08
Profit/loss carryover
annual opening balance 0.00 0.00 (1,091,533.91)
prior-year pro forma net earnings 6,384,188.00 892,730.80 0.00
book transfer to pro forma net earnings (6,384,188.00) (892,730.80) 1,091,533.91
annual closing balance 0.00 0.00 0.00
Pro forma net earnings
annual opening balance 6,384,188.00 892,730.80 0.00
profit/(loss) carryover 0.00 0.00 (1,091,533.91)
net income 6,434,596.58 6,530,252.18 1,595,195.27
adjustment for pro forma group fee apportionment and
imputed taxes 4,829,520.30 3,090,692.55 1,618,439.77
profit transferred to Borsig Energy GmbH under P&L
transfer agreements (7,987,930.09) (4,129,487.53) (1,229,370.33)
annual closing balance 9,660,374.79 6,384,188.00 892,730.80
Equity at end of fiscal year 16,013,985.79 12,662,799.00 7,146,341.80
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