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

(5.10) Deferred income
9-30-2000 E165,251.93
9-30-1999 E46,476.43
9-30-1998 E0.00
The deferred income is basically related to prepayments received for maintenance services, machine
insurance contracts and warranties for a wind turbine, as well as from a purchasing pool.
(5.11) Contingent liabilities
No contingent liabilities existed in the periods under review.
(5.12) Other financial obligations
Breakdown of other financial obligations:
Obligations under leases
9-30-2000 E2,486,863.61
9-30-1998 E3,167,720.69
9-30-1997 E946,592.97
Maturity Total
C 1 year 1-5 years
E E E
as of 9-30-2000 308,225.24 2,178,638.37 2,486,863.61
as of 9-30-1999 417,626.56 2,750,094.13 3,167,720.69
as of 9-30-1998 149,501.98 797,090.99 946,592.97
(6) Comments on the income statement
(6.1) Net sales
1999/00 E272,669,814.84
1998/99 E223,742,801.56
1997/98 E82,476,587.43
For the breakdown and analysis of net sales by geographical markets (regions), reference is made to the
segment report. In 1999/2000, net sales to Babcock Borsig Group companies amounted to
E9,982,952.22 (E1,967,760.26 in 1998/99, E1,259,496.75 in 1997/98).
Contrary to the separate HGB-based financial statements, net sales also include revenues from PoC
accounting under IAS 11, cf. Note (5.3).
(6.2) Change in inventories of WIP
1999/00 (E3,213,876.05)
1998/99 E8,436,511.87
1997/98 E2,782,896.07
This income statement line discloses the changes in inventories of work in process (goods/services)
which are not accounted for according to the PoC method of IAS 11.
(6.3) Work and material capitalized
1999/00 E735,399.55
1998/99 E444,670.55
1997/98 E0.00
This caption accounts for the production cost of internally manufactured wind turbine prototypes and
rotor casting molds.
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