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

Equity and liabilities
Note
A. Equity (5.5)
Balance at Balance at
12-31-2000 12-31-1999
pro forma pro forma
E E
I. Capital stock 34,050,000.00 256,561.92
II. Additional paid-in capital 3,577,668.00 6,047,049.08
III. Pro forma net earnings/(pro forma accumulated deficit) (493,258.53) 5,844,337.66
B. Accruals (5.6)
37,134,409.47 12,147,948.66
1. Pension accruals 148,759.86 0.00
2. Tax accruals 3,866,811.55 1,323,514.34
3. Sundry accruals 16,433,430.51 8,929,836.24
20,449,001.92 10,253,350.58
C. Future payables under long-term construction contracts (5.7) 0.00 475,695.74
D. Liabilities
1. Due to banks 121,588.74 0.00
2. Trade payables 29,044,981.71 44,633,897.29
3. Due to Babcock Borsig Group companies (5.8) 74,451,697.00 33,117,424.40
4. Sundry liabilities 5,354,659.80 2,181,128.31
108,972,927.25 79,932,450.00
E. Deferred income 511.29 57,895.62
F. Deferred tax liabilities (6.7) 3,290,597.88 2,057,677.65
F-42
169,847,447.81 104,925,018.25