Group - L. Possehl & Co. mbH

The following domestic subsidiaries are making use of the exemption
provided by § 264 Para. 3 HGB regarding mandatory disclosure for
the year 2007:
Heimerle + Meule GmbH, Pforzheim
Harburg-Freudenberger Maschinenbau GmbH, Hamburg
Possehl Erzkontor GmbH, Lübeck
Possehl Beteiligungsverwaltung GmbH, Lübeck
Deutscher Eisenhandel AG, Lübeck
ABT Vermögensverwaltungs-Gesellschaft mbH, Mönchengladbach
The following domestic subsidiaries are making use of the
exemption provided by § 264b HGB regarding mandatory disclosure
for the year 2007:
A. Monforts Textilmaschinen GmbH & Co. KG, Mönchengladbach
Hako-Holding GmbH & Co. KG, Bad Oldesloe
CUrrENt aSSEtS
4. inventories
in E ’000 12/31/2007 12/31/2006
1. Raw materials, consumables,
and supplies 61,626 62,001
2. Work in progress 20,438 30,456
3. Finished goods and merchandise 139,854 143,606
4. Advance payments received 3,076 13,504
42
224,994 249,567
Advanced payments received on orders of e 68,356,000 (previous
year: e 73,458,000) were offset against inventories.
5. receivables and other assets
in E ’000 12/31/2007 12/31/2006
1. trade receivables 212,161 199,260
of which with a remaining term
of more than 1 year 1,537 1,330
2. other receivables and
other assets
Receivables from affiliated
companies 1 1
Receivables from investee and
investor companies 4,402 4,252
Other assets 25,264 24,747
of which with a remaining term
of more than 1 year 4,741 5,132
29,667 29,000
Receivables and other assets are recognized at nominal value, less
individual write downs of e 6,197,000 (previous year: e 6,871,000) and
a general write down of e 3,546,000 (previous year: e 3,380,000).
Other assets include recoverable tax amounts of e 14,765,000
(previous year: e 14,993,000).
The corporation tax credit of e 4,687,000 in accordance with
§ 37 German corporation tax law (Körperschaftsteuergesetz) was discounted
at 4.3 % p.a., the same interest rate as in the previous year.
6. Cash and Cash Equivalents
in E ’000 12/31/2007 12/31/2006
Bank balances 179,342 41,567
Cash in hand and checks 587 426
179,929 41,993
Bank balances consist primarily of short-term Euro deposits.
7. deferred tax assets
Deferred tax assets and liabilities result from the different carrying
amounts between the financial statements of domestic and foreign
Group companies prepared according to commercial law and those
prepared for tax purposes. Deferred taxes are also offset against consolidation
entries with effect on profit and loss. No deferred tax assets
are recognized for tax loss carryforwards. Deferred tax assets and
liabilities are netted out and the balance is reported.