For the business year 1 January 2008 to 31 December 2008
Consolidated income statement // in k€
| Notes | 2008 | 2007 | ||
| 1. | Revenue incl. discontinued operations | 900,311 | 698,818 | |
| 2. | Revenue from discontinued operations | 34 | 0 | -9,230 |
| 3. | Revenue from continued operations | 22, 23 | 900,311 | 689,588 |
| 4. | Changes in inventories of finished goods and work in progress | 22 | 15,160 | -17,670 |
| 5. | Own work capitalized | 24 | 7,740 | 542 |
| 6. | Other operating income | 25, 33 | 36,841 | 57,253 |
| 7. | Cost of materials | 22, 26 | -454,060 | -333,654 |
| 8. | Personnel expenses | 22, 27 | -90,130 | -75,004 |
| 9. | Amortization and depreciation | 28 | -55,166 | -42,054 |
| 10. | Other operating expenses | 22, 29, 33 | -99,883 | -80,129 |
| 11. | Operating result from continued operations | 260,813 | 198,872 | |
| 12. | Income from investments measured at equity | 31 | -8,612 | -1,830 |
| 13. | Interest and similar income | 22, 31 | 41,438 | 20,581 |
| 14. | Interest and similar expenses | 22, 31 | -49,046 | -38,449 |
| 15. | Other financial result | 6, 22, 31 | -55,924 | -3,264 |
| 16. | Financial result | -72,144 | -22,962 | |
| 17. | Income from continued operations before taxes on income | 188,669 | 175,910 | |
| 18. | Taxes on income | 32 | -53,422 | -65,027 |
| 19. | Income from continued operations | 135,247 | 110,883 | |
| 20. | Income after taxes from discontinued operations | 34 | 13,432 | 2,373 |
| 21. | Consolidated net income | 148,679 | 113,256 | |
| 22. | Earnings per share | 35 | ||
| a) Weighted average number of shares outstanding (in 1,000) | 111,720 | 111,720 | ||
| b) Income from continued operations (in €) | 1.21 | 0.99 | ||
| c) Income from discontinued operations (in €) | 0.12 | 0.02 | ||
| d) Consolidated net income (in €) | 1.33 | 1.01 | ||
Balance sheet per December 31, 2008 // in k€
| Assets | Notes | Dec 31, 2008 | Dec 31, 2007 |
| A • Noncurrent assets | 666,884 | 422,725 | |
| I. Intangible assets | 7, 37, 38 | 33,861 | 32,675 |
| II. Property, plant and equipment | 8, 37, 39 | 575,406 | 349,602 |
| III. Investments measured at equity | 9, 40 | 30,544 | 21,630 |
| IV. Deferred tax assets | 32, 41 | 27,073 | 18,818 |
| B • Current assets | 1,453,116 | 1,270,011 | |
| I. Inventories | 10, 42 | 523,766 | 350,053 |
| II. Trade receivables | 11, 43, 58 | 71,219 | 112,922 |
| III. Current income tax assets | 44 | 914 | 9,180 |
| IV. Other receivables and assets | 6, 12, 45 | 21,164 | 4,999 |
| V. Other financial assets | 13, 17, 46, 58 | 404,414 | 528,995 |
| VI. Liquid funds | 14, 47, 58, 59 | 431,689 | 263,862 |
| C • Assets held for sale | 15, 48 | 572 | 11,730 |
| 2,120,622 | 1,704,466 | ||
| Equity and liabilities | |||
| A • Equity | 49 | 841,075 | 691,546 |
| I. Subscribed capital | 111,720 | 111,720 | |
| II. Capital reserve | 296,489 | 296,489 | |
| III. Other reserves | 6,311 | -10,180 | |
| IV. Accumulated profits | 426,555 | 293,517 | |
| B • Noncurrent liabilities | 1,093,559 | 899,266 | |
| I. Noncurrent financial liabilities | 16, 17, 50, 58 | 675,406 | 620,722 |
| II. Accrued investment grants | 18, 51 | 78,842 | 54,925 |
| III. Noncurrent provisions | 19, 20, 52 | 23,242 | 20,195 |
| IV. Other noncurrent liabilities | 21, 53 | 292,485 | 188,405 |
| V. Deferred tax liabilities | 32, 54 | 23,584 | 15,019 |
| C • Current liabilities | 185,988 | 110,384 | |
| I. Current financial liabilities | 16, 17, 50, 58 | 24,137 | 20,443 |
| II. Trade payables | 58 | 70,413 | 32,306 |
| III. Income tax liabilities | 55 | 20,219 | 15,171 |
| IV. Current provisions | 20, 52 | 5,716 | 2,679 |
| V. Other current liabilities | 6, 21, 53 | 65,503 | 39,785 |
| D • Liabilities of assets held for sale | 15, 48 | 0 | 3,270 |
| 2,120,622 | 1,704,466 |
Changes in equity statement // in k€
| Other Reserves | ||||||
| Subscribed | Capital | Exchange- | IAS 39 | Accumulated | ||
| Notes 4, 49 | capital | reserve | reserve | reserve | profits | Total |
| As per Dec 31, 2006 | 55,860 | 352,349 | -1,929 | -392 | 191,433 | 597,321 |
| Capital increase | 55,860 | -55,860 | 0 | |||
| Differences from currency translations | -11,553 | -11,553 | ||||
| Consolidated net income | 113,256 | 113,256 | ||||
| Dividend distribution | -11,172 | -11,172 | ||||
| Hedge reserve changes | 3,694 | 3,694 | ||||
| As per Dec 31, 2007 | 111,720 | 296,489 | -13,482 | 3,302 | 293,517 | 691,546 |
| Differences from currency translations | 10,359 | 10,359 | ||||
| Consolidated net income | 148,679 | 148,679 | ||||
| Dividend distribution | -15,641 | -15,641 | ||||
| Changes in available-for-sale reserve due to fair value measurement | 286 | 286 | ||||
| Hedge reserve changes | 5,846 | 5,846 | ||||
| As per Dec 31, 2008 | 111,720 | 296,489 | -3,123 | 9,434 | 426,555 | 841,075 |
Cash flow statement 2008 // in k€
| Note 59 | 2008 | 2007 | |
| Income before tax | 202,355 | 179,216 | |
| + | Amortization and depreciation | 55,166 | 42,807 |
| -/+ | Financial result | 72,144 | 22,962 |
| +/- | Loss/profit from disposal of assets | 322 | -1,036 |
| - | Profit from the sale of consolidated companies | -13,686 | 0 |
| - | Reversal of accrued investment grants | -10,210 | -8,170 |
| = | Cash flow from operating result | 306,091 | 235,779 |
| - | Increase of prepayments and customer advances (balance) | -10,790 | -28,026 |
| -/+ | Increase/decrease of inventories (devoid of prepayments) | -42,459 | 19,707 |
| + | Decrease of securities (categorized as trading) | 17,041 | 82,507 |
| -/+ | Increase/decrease other net assets | 59,097 | -9,111 |
| = | Cash flow from operating result and changes in net assets | 328,980 | 300,856 |
| + | Interest received | 31,623 | 12,421 |
| - | Taxes on income paid | -40,140 | -69,251 |
| = | Cash flow from operating activities | 320,463 | 244,026 |
| - | Cash outflow for asset investments | -269,515 | -117,755 |
| + | Cash inflow from investment grants | 29,042 | 6,453 |
| + | Cash inflow from the disposal of assets | 8,602 | 3,957 |
| +/- | Cash inflow/outflow from financial investments | 53,627 | -517,404 |
| + | Cash inflow from the disposal/acquisition of consolidated companies | 12,996 | 2,465 |
| = | Cash flow from investment activities | -165,248 | -622,284 |
| + | Cash inflow from borrowings | 78,711 | 559,628 |
| - | Cash outflow for redemption of borrowings | -28,228 | -71,859 |
| - | Interest paid | -33,008 | -25,330 |
| - | Cash outflow due to distributions | -15,641 | -11,172 |
| = | Cash flow from financing activities | 1,834 | 451,267 |
| +/- | Net changes in cash and cash equivalents | 157,049 | 73,009 |
| +/- | Exchange rate effects on cash and cash equivalents | 725 | -1,682 |
| + | Cash and cash equivalents at the beginning of the period | 265,580 | 194,253 |
| = | Cash and cash equivalents at the end of the period | 423,354 | 265,580 |