2007 - Pinguely Haulotte

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