2007 - Pinguely Haulotte

2007
annual report # p127-128
Statutory accounts - Notes to the balance sheet
Concerning retirement indemnities, the accounting policy adopted is that for benefits applicable to voluntary retirement subject to
social charges in accordance with the French Pension Reform Act of August 21st, 2003 (Loi Fillon).
The following assumptions are applied:
- discount rate: 4%
- rate of salary increase: 2.5%
- rate of social charges: 45%
- retirement age: between 60 and 65 years according to age criteria and professional category
At December 31st, 2007, this provision broke down as follows:
- €722,000 for retirement indemnities
- €215,000 for provisions for long-service awards.
(3) Lawsuit contingencies
All disputes are reviewed by management and referred to our legal counsel for assessment.
When necessary, provisions are recorded to cover estimated risks.
12. REVENUE
In thousands of euros France Export Total
Sales of equipment 73 533 424 391 497 924
Sales of services 3 643 26 589 30 232
Total 77 176 450 980 528 156
13. INCOME AND EXPENSE SUBSIDIARIES AND AFFILIATES
In thousands of euros 31/12/2007 31/12/2006
Operating income 449 471 379 184
Financial income 9 549 5 715
Financial expense 561 364
14. EXTRAORDINARY PROFIT (LOSS)
Expense Income Profit (loss) Profit (loss)
31/12/2007 31/12/2007 31/12/2007 31/12/2006
Penalties 10 (10) (30)
Provisions for negative net equity of subsidiaries 340
Provisions for lawsuit contingencies 465 772 307 909
Other extraordinary income (expenses) 434 1 514 1 080 906
Proceeds from the disposal of PPE 2 575 4 591 2 016 1 539
Proceeds from the disposal of financial assets (718)
Excess tax depreciation 3 196 905 (2 291) (2 043)
Total 6 680 7 782 1 102 903
15. BREAKDOWN OF TAX INCOME BETWEEN CURRENT INCOME AND
EXTRAORDINARY PROFIT (LOSS)
In thousands of euros Pre-tax income Corporate income tax After-tax income
Current income 72 967 22 711 50 256
Extraordinary profit (loss) 1 102 219 883
Total 74 069 22 930 51 139