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

(6) Liabilities
Remaining
term
1 year or less
Balance at
9-30-2000
Balance at
9-30-1999
DM ‘000 DM ‘000 DM ‘000
Trade payables 66,932 66,932 49,279
Intercompany payables 84,558 84,558 38,690
thereof due to shareholders (0) (0) (0)
Sundry liabilities 10,442 10,442 5,935
thereof for taxes (8,295) (8,295) (3,512)
thereof for social security (461) (461) (408)
161,932 161,932 93,904
The intercompany payables mainly refer to liabilities from intragroup finance transactions.
The sundry liabilities substantially comprise a VAT debt payable to the tax office, as well as the residual
September 2000 payroll, and social security taxes.
(7) Contingent liabilities and other financial obligations
Reportable contingent liabilities under the terms of Art. 268(7) HGB in conjunction with Art. 251 HGB
did not exist at balance sheet date.
The other financial obligations as of balance sheet date total DM 3.969 million under leases.
(IV) COMMENTS ON THE INCOME STATEMENT
(1) Net sales
Germany:
1999/2000 1998/99
DM ‘000 DM ‘000
Revenues from the sale of wind turbines 287,689 231,304
Service, maintenance 1,980 2,042
Power supply 1,218 838
Other sales revenues 2,822 0
Abroad:
293,709 234,184
Revenues from the sale of wind turbines 110,853 51,445
Service, maintenance 2,286 95
Other sales revenues 573 917
Power supply 18 0
Cash discounts granted (36) (1)
113,694 52,456
Intercompany transfers: 29,413 986
(2) Cost of materials
436,816 287,626
1999/2000 1998/99
DM ‘000 DM ‘000
Cost of raw materials and supplies 322,954 305,801
Cost of services purchased 60,370 56,274
383,324 362,075
F-71