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