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

(5.6) Equity
9-30-2000 E16,013,985.79
9-30-1999 E12,662,799.00
9-30-1998 E7,146,341.80
9-30-2000 9-30-1999 9-30-1998
E E E
Capital stock 306,561.92 231,561.92 206,561.92
Additional paid-in capital earnings 6,047,049.08 6,047,049.08 6.047,049.08
Pro forma net earnings 9,660,374.79 6,384,188.00 892,730.80
16,013,985.79 12,662,799.00 7,146,341.80
In the (combined) pro forma consolidated financial statements 1999/2000, 1998/99 and 1997/98,
capital consolidation was waived in favor of adding up all equity. For reasons of comparability, no
minority interests (Nordvest A/S) were shown—cf. Note (3)—since Nordvest A/S meantime directly holds
a stake in Taifun AG. The pro forma net earnings disclosed within equity does not equal the net
earnings after profit appropriation (retained earnings), cf. Note (1).
For the movement of equity items, see the statement of changes in equity.
(5.7) Accruals
9-30-2000 E19,696,088.54
9-30-1999 E8,203,124.51
9-30-1998 E3,012,739.72
Pro forma group
carryover Utilization Release Addition 9-30-1998
E E E E E
Tax accruals 82,260.22 0.00 0.00 0.00 82,260.22
Sundry accruals
contract-related 1,465,351.74 510,919.67 869,059.11 1,920,162.71 2,005,535.67
personnel-related 281,110.13 280,518.89 591.24 580,424.48 580,424.48
remaining 48,189.26 42,725.83 5,463.43 344,519.35 344,519.35
1,876,911.35 834,164.39 875,113.78 2,845,106.54 3,012,739.72
10-1-1998 Utilization Release Addition 9-30-1999
E E E E E
Tax accruals 82,260.22 42,091.70 40,168.52 868,897.12 868,897.12
Sundry accruals
contract-related 2,005,535.67 36,036.87 26,331.53 3,791,180.56 5,734,347.83
personnel-related 580,424.48 444,496.27 30,090.80 1,100,715.73 1,206,553.14
remaining 344,519.35 339,524.74 4,994.61 393,326.42 393,326.42
3,012,739.72 862,149.58 101,585.46 6,154,119.83 8,203,124.51
10-1-1999 Utilization Release Addition 9-30-2000
E E E E E
Tax accruals 868,897.12 65,494.47 0.00 2,375,982.06 3,179,384.71
Sundry accruals
contract-related 5,734,347.83 4,706,177.96 145,838.16 12,735,774.83 13,618,106.54
personnel-related 1,206,553.14 1,097,180.65 3,535.07 1,373,268.93 1,479,106.35
remaining 393,326.42 378,798.68 12,993.86 1,417,957.06 1,419,490.94
8,203,124.51 6,247,651.76 162,367.09 17,902,982.88 19,696,088.54
The tax accruals provide for accrued real-estate, municipal-trade and corporate-income tax liabilities.
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