Group - L. Possehl & Co. mbH

BALANCE SHEET STRUCTURE
Fixed assets
Current assets
NEt aSSEtS
18.1 %
81.9 %
assets
in e million 12/31/2007 12/31/2006
Fixed assets 143.8 194.7
Current assets 652.1 523.0
assets 795.9 717.7
Shareholders’ equity 272.5 209.0
Provisions 167.9 159.1
Liabilities 355.5 349.6
Liabilities 795.9 717.7
Possehl Group’s total assets increased by e 78.2 million in the
previous year to e 795.9 million.
The increase in assets related almost exclusively to cash and cash
equivalents. This item rose by a total of e 137.9 million to e 179.9 million
primarily as a result of the sale of the equity stake in NA, but also
because of positive cash flows from operating activities. On the liabilities
side of the balance sheet, the increase was primarily attributable
to e 63.6 million more shareholders’ equity.
27.1 % 29.1 %
34.2 %
72.9 %
Equity & Liabilities
21.1 %
44.7 %
2007 2006 2007
2006
22.2 %
48.7 %
Letter from the Executive Board
Company Boards
Report of the Controlling Boards
Successful over the Long Term
Group Management Report
Consolidated Financial Statements
Further Information
Shareholders’ equity
Provisions
Liabilities
The reduction in fixed assets applies primarily to financial assets.
Along with the removal of the NA equity stake from the balance sheet,
the value of equity investments in associated companies declined as
a result of our final separation from our former partners in the trading
business in the American market. The share of fixed and thus longterm
assets to total assets has declined from 27.1 % in the previous
year to 18.1 % as of the balance sheet date.
Current assets – with the exception of the increase in cash and
cash equivalents – have not substantially changed from the previous
year. In particular, higher procurement costs did not lead to an increase
in working capital.
Consolidated shareholders’ equity rose by e 63.6 million to
e 272.5 million. The positive effect of the consolidated net profit of
e 114.1 million on shareholders’ equity was partially mitigated by the
offsetting of goodwill from the acquisition of Pomini, the acquisition of
the remaining shares in Hako, the dividend payment to the Possehl-
Stiftung, and the decline in the US dollar exchange rate. However, the
equity ratio rose from 29.1 % to 34.2 %. More than 200 % of long-term
assets were financed by long-term liabilities.
The increase in provisions of e 10.2 million includes one-time
allocations to adjust to the valuation of pension provisions according
to internationally customary valuation methods.
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