PDF, 3.2 MB - Pfleiderer AG

The assets and liabilities that have remained in the Group are reported in the consolidated balance
sheet under discontinued operations.
The sale of the discontinued operations resulted on an agreed aggregate selling price of
92,623 thousand euros, in a gain of 51,352 thousand euros. This figure does not include possible
proceeds from subsequent purchase price adjustments.
The gain on disposal is arrived at as follows:
‘000 euros
Agreed aggregate selling prices 94,623
Retirement of assets and liabilities of operations sold –43,134
51,489
Expenses from deferred taxes –137
Gain on sale of discontinued operations 51,352
The operative business of the discontinued operations before special effects developed
as follows:
‘000 euros 2004 2003
Sales revenues 118,819 182,375
Expenses –125,401 –177,093
EBIT –6,582 5,282
Net interest –916 –2,174
EBT –7,498 3,108
Taxes 1,623 607
Earnings after taxes –5,875 3,715
Further operative special effects and subsequent expenditure of –17,359 thousand euros were
incurred after tax in 2004 (2003: –53,486 thousand euros) for discontinued operations. This includes
special effects for the Leipzig location of –9,484 thousand euros (2003: –10,677 thousand
euros) and impairment losses of 670 thousand euros (2003: 0 thousand euros) for the complete
write-off of the portions of the land at the Coswig concrete pole plant that are no longer used.
Net interest only includes the net interest of the companies that are included in the discontinued
operations.
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