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

Primary segment report
The Wind Energy operations cannot be further subdivided into reasonable segments with discrete risks
and returns, as required by IAS 14. Therefore, the primary segment report according to IAS 14 deals
with the Taifun Group’s sole business segment, allocating to this segment long-term income and
expenses in order to portray the Group’s performance. The report that follows includes, besides net
sales, the change in inventories of work in process (goods/services), work and material capitalized and
other income earned from operating activities. In addition, the interest income and interest expense
were fully included in segment income/expense since within the Taifun Group these items are not
attributable to financing activities, which is in accordance with IAS 14 and, by analogy, IAS 7—cf. Note
(7). Major expenses allocated to the segment include the cost of materials, personnel expenses,
amortization/depreciation, and other operations-related expenses, whereas any nonrecurring or
nonperiodic items, below-the-line factors, tax expenses and tax income were not allocated to the
segment.
Major assets and liabilities not allocated to the segment include tax accruals, tax claims and tax debts,
as well as deferred taxes. Any such other assets or liabilities as serve long-term financing purposes
under the terms of IAS 14 and (by analogy) IAS 7—cf. Note (7)—and are not allocable to the segment do
not exist.
Wind Energy Unallocated Taifun Group
1999/00 1998/99 1997/98 1999/00 1998/99 1997/98 1999/00 1998/99 1997/98
E1,000 E1,000 E1,000 E1,000 E1,000 E1,000 E1,000 E1,000 E1,000
SEGMENT REVENUE 271,079.41 234,199.85 85,721.99 271,079.41 234,199.85 85,721.99
SEGMENT RESULT 9,723.54 9,917.53 2,161.66 9,723.54 9,917.53 2,161.66
thereof amortization/depreciation of
fixed assets 3,725.02 2,096.03 862.06 3,725.02 2,096.03 862.06
EXTRAORDINARY FACTORS 625.45 205.00 319.01 625.45 205.00 319.01
Income taxes 3,884.66 3,616.76 878.22 3,884.66 3,616.76 878.22
Other taxes 29.74 (24.48) 7.26 29.74 (24.48) 7.26
GROUP NET INCOME 6,434.60 6,530.25 1,595.20
SEGMENT ASSETS 152,532.55 81,334.93 28,175.49 152,532.55 81,334.93 28,175.49
thereof capital expenditures for
fixed assets 15,471.76 10,743.63 2,134.02
Deferred tax assets 552.99 137.96 0.00 552.99 137.96 0.00
Other tax claims 15.79 520.89 1,219.95 15.79 520.89 1,219.95
OPERATING ASSETS 153,101.33 81,993.78 29,395.44
SEGMENT LIABILITIES 126,976.76 63,783.76 21,382.59 126,976.76 63,783.76 21,382.59
Equity 16,013.99 12,662.80 7,146.34 16,013.99 12,662.80 7,146.34
Tax accruals 3,179.38 868.90 82.26 3,179.38 868.90 82.26
Deferred tax liabilities 2,640.08 2,856.12 675.03 2,640.08 2,856.12 675.03
Current tax liabilities 4,291.12 1,822.20 109.22 4,291.12 1,822.20 109.22
OPERATING CAPITAL 153,101.33 81,993.78 29,395.44
Secondary segment report
The Taifun Group sells its products on the following regional markets:
1999/00
Net sales
1998/99 1997/98
E1,000 E1,000 E1,000
Germany 152,319.0 173,792.9 79,975.4
Abroad 120,351.0 49,949.9 2,501.2
No significant non-German branches exist as defined in IAS 14.
272,670.0 223,742.8 82,476.6
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