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

(6.9) Net financial result
1999/00 E(2,865,323.28)
1998/99 E122,183.71
1997/98 E(335,449.81)
1999/00 1998/99 1997/98
E E E
Other interest and similar income 516,156.93 1,110,856.41 70,445.35
Interest and similar expenses (3,381,480.21) (988,672.70) (405,895.16)
(2,865,323.28) 122,183.71 (335,449.81)
Most of the interest income and expenses originated from intercompany clearing account (credit/debit)
balances with Babcock Borsig Group companies. In addition, the net financial result covers interest
income from customers (trade receivables), bank interest, expenses for guaranty commissions, and
interest expenses for suppliers and prepayments received.
(6.10) Income taxes
1999/00 E3,884,660.07
1998/99 E3,616,756.60
1997/98 E878,223.57
The income taxes line substantially accounts for the current taxes of Nordex GmbH, as well as for
imputed taxes—cf. Note (1)—and the recognition of deferred tax assets and liabilities, cf. Note (4.2.).
Imputed and deferred taxes were calculated by using future tax rates. When computing the deferred
taxes, a rate of 25% as stated in the statutory German Corporate Tax Reform 2001, plus 5.5% thereon
as solidarity tax was used. Determination of deferred municipal trade taxes was predicated on the
applicable municipal factors.
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