Group - L. Possehl & Co. mbH

otHEr diSCLoSUrES
Contingent Liabilities
in E ’000 12/31/2007 12/31/2006
Acceptance liability for drafts 7,581 3,020
Financial guarantees 541 728
Guarantees/warranties 7,844 8,498
other financial obligations
48
15,966 12,246
in E ’000 12/31/2007 12/31/2006
rental/Leasing and other
contractual obligations (face value) 112,559 104,097
with term structure
up to 1 year 22,475 17,264
1 – 5 years 46,592 37,164
over 5 years 43,492 49,669
Purchase commitments for
investments 2,916 3,048
115,475 107,145
derivative financial instruments
Derivative financial instruments are used in the Group only to hedge
currency and interest rate risks. The instruments used consist of
unconditional forward contracts for currencies and currency or interest
rate swaps.
The forward currency contracts are mainly over-the-counter
forward contracts on US dollar and Euro bases. As well as hedging
items of the balance sheet, imminent payment obligations from
procurement transactions are also hedged against anticipated unfavorable
exchange rate movements.
The currency swaps are short-term. Interest rate swaps have
settlement dates up to 2012.
The following table lists the nominal amounts and market values of
the financial instruments:
in E ’000
Nominal
amount
12/31/2007
Market value
12/31/2007
Forward currency contracts 13,956 1,513
Currency options 3,450 146
Interest rate and currency swaps 62,548 136
Financial instruments are measured using the mark to market
method. The market value of financial instruments is calculated as the
total value of all instruments as per the balance sheet date, without
accounting for the underlying transactions.
total remuneration of the Executive Board, advisory Council,
and Supervisory Board
The members of the Executive Board received total remuneration
of e 2,355,000 (previous year: e 2,341,000) for the performance of
their duties in the parent company and subsidiaries, the members
of the Advisory Council received e 80,000 (previous year: e 80,000),
and the members of the Supervisory Board e 28,000 (previous year:
e 31,000).
Former members of the Executive Board and their surviving dependents
received e 809,000 (previous year: e 718,000). Obligations from
current pensions and pension entitlements are covered by provisions of
e 8,312,000 (previous year: e 8,082,000).
Proposal on appropriation of Profits of the Parent Company
in E ’000
Net profit for 2007 76,744,023.39
Profit carried forward from the previous year 251.70
Balance sheet profit 76,744,275.09
The Executive Board proposes appropriating the balance sheet
profit of e 76,744,275.09 as follows: an amount of e 8,000,000.00 to
the sole shareholder, Possehl-Stiftung, an amount of e 68,700,000.00
to be transferred to other earnings reserves, and the remainder of
e 44,275.09 is to be carried forward.
Lübeck, Germany, March 19, 2008
L. Possehl & Co.
mit beschränkter Haftung (limited)
The Executive Board
Uwe Lüders Norbert Scheuch