2007 - Pinguely Haulotte
2007 - Pinguely Haulotte
2007 - Pinguely Haulotte
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Consolidated financial statements of December 31st, <strong>2007</strong><br />
Note 37 - Other operating income and expenses<br />
31/12/<strong>2007</strong> 31/12/2006<br />
Gains from the disposal of assets 93 88<br />
Net income from management operations (853) 976<br />
Impairment of development expenditure (511) (2 496)<br />
Allowances for contingencies and losses (13) (90)<br />
Total (1 284) (1 522)<br />
All operating income and expenses are attached to the manufacturing and distribution activity. In accordance with IAS 36 development<br />
expenditures are subject to impairment testing. On this basis, an impairment has been recorded for a portion of certain costs previously<br />
capitalized to reflect the evolution of certain projects.<br />
Note 38 - Cost of net financial debt<br />
31/12/<strong>2007</strong> 31/12/2006<br />
Interest expense and financial charges (5 464) (4 522)<br />
Fair value gains or losses (1 443) 335<br />
Financial income 1 191 979<br />
Total (5 716) (3 208)<br />
Note 39 - Income tax<br />
31/12/<strong>2007</strong> 31/12/2006<br />
Current tax (37 030) (33 531)<br />
Deferred tax 93 2 048<br />
Total (36 937) (31 483)<br />
<strong>Haulotte</strong> Group SA is the head of a French tax group that on December 31 st, <strong>2007</strong> included LEV S.A.S., Royans Levage S.A.S., <strong>Haulotte</strong><br />
France S.A.R.L, ABM Industries S.A.S. and Telescopelle S.A.S.<br />
<strong>Haulotte</strong> UK Ltd is the head of a UK tax group that on December 31st, <strong>2007</strong> included UK Platforms Ltd and UK Training Ltd.<br />
Under these tax sharing agreements, the taxes of companies are incurred by subsidiaries as if they were not included in a tax group.<br />
Note 40 - Effective income tax reconciliation<br />
The difference between the effective tax rate of 34.17 % (34.24 % in December 2006) and the standard rate applicable in France of<br />
34.43 % breaks down as follows:<br />
31/12/<strong>2007</strong> 31/12/2006<br />
Profit of the period before tax 108 098 91 938<br />
Theoretical income tax expense at applicable rate for the consolidating company 37 218 (34,43%) 31 654 (34,43%)<br />
Effect of differential in tax rates (1 617) (506)<br />
Effect of permanently non-deductible expenses or non-taxable income 898 383<br />
Effect of loss carryforwards not recognized (46) (1 613)<br />
Effect of the elimination of internal transactions on equity investments (676) (86)<br />
Effect of tax losses not resulting in the recognition of deferred taxes 1 185 1 884<br />
Effect of badwill/goodwill<br />
Effect of tax group and income tax credits 28 (176)<br />
Other (53) (57)<br />
Effective tax expense 36 937 (34,17%) 31 483 (34,24%)<br />
ENGLISH