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 and tax debts, as well as
deferred taxes.
Wind Energy Unallocated Taifun Group
First Quarter First Quarter First Quarter First Quarter First Quarter First Quarter
for Fiscal for Fiscal for Fiscal for Fiscal for Fiscal for Fiscal
Year 2000/ Year 1999/ Year 2000/ Year 1999/ Year 2000/ Year 1999/
2001 2000 2001 2000 2001 2000
kE kE kE kE kE kE
SEGMENT REVENUE 69,450.44 43,477.94 69,450.44 43,477.94
SEGMENT RESULT 1,246.06 (1,279.01) 1,246.06 (1,279.01)
thereof amortization/depreciation
of fixed assets’’ 1,751.92 530.93
EXTRAORDINARY FACTORS (241.17) 104.76 (241.17) 104.76
Income taxes 575.71 (458.26) 575.71 (458.26)
Other taxes 8.90 4.18 8.90 4.18
QUARTERLY NET INCOME/(LOSS) 420.28 (720.17)
SEGMENT ASSETS 168,973.89 104,794.78 168,973.89 104,794.78
thereof capital expenditures for
fixed assets’’ 22,978.89 1,122.47
Deferred taxes 873.56 130.24 873.56 130.24
OPERATING ASSETS 169,847.45 104,925.02
SEGMENT LIABILITIES 125,406.87 89,395.87 125,406.87 89,395.87
Equity 37,134.41 12,147.95 37,134.41 12,147.95
Tax accruals 3,866.81 1,323.51 3,866.81 1,323.51
Pension accruals 148.76 0.00 148.76 0.00
Deferred tax liabilities 3,290.60 2,057.68 3,290.60 2,057.68
OPERATING CAPITAL 169,847.45 104,925.02
Secondary segment report
In the 3-month period ended December 31, 2000, sales revenues of kE40,903 were generated in
Germany and kE22,101 abroad.
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