Interim Financial Statements
Consolidated Statement of Earnings
| (EUR million) | Q1 2008 |
Q1 2007 |
Percentage change | Full year 2007 |
|---|---|---|---|---|
| Sales | 3,801,052 | 3,684,630* | 3.2 | 16,451,752 |
| Changes in inventories | 420 | 730 | -42.5 | (176) |
| Other operating income | 37,675 | 21,637 | 74.1 | 230,795 |
| Materials | (2,788,076) | (2,728,028) | 2.2 | (12,326,831) |
| Personnel costs | (686,948) | (660,481) | 4.0 | (2,806,801) |
| Depreciation and amortization | (81,584) | (79,552) | 2.6 | (312,490) |
| Other operating expenses | (257,489) | (209,024) | 23.2 | (1,113,357) |
| Profit from operating activities | 25,050 | 29,912 | -16.3 | 122,892 |
| Share of profits and losses of equity-method associated and jointly controlled entities | 85,868 | 24,675* | 248.0 | 265,883 |
| Net income from other participating interests | 10,210 | 11,327 | -9.9 | 88,420 |
| Investment and interest income | 24,581 | 17,423 | 41.1 | 130,608 |
| Investment and interest expenses | (42,419) | (17,484) | 142.6 | (106,482) |
| Profit before taxes | 103,290 | 65,853 | 56.8 | 501,321 |
| Income taxes | (34,279) | (23,758) | 44.3 | (160,301) |
| Profit after taxes | 69,011 | 42,095 | 63.9 | 341,020 |
| Of which: Consolidated net profit | 32,058 | 9,567 | 235.1 | 140,696 |
| Of which: Minority interest | 36,953 | 32,528 | 13.6 | 200,324 |
*Due to a change in presentation, the Group's share of profi ts and losses of jointly controlled entities in the first quarter of 2007 – an amount of EUR 10,002,000 – is included in the share of profits and losses of equity-method associates and jointly controlled entities instead of in sales as in the previous year.
Consolidated Balance Sheet
| (EUR thousand) | Mar. 31, 2008 | Mar. 31, 2007 |
|---|---|---|
| Assets Non-current assets | ||
| Intangible assets | 483,688 | 505,145 |
| Property. plant and equipment | 1,039,082 | 1,027,641 |
| Investment properties | 41,124 | 41,199 |
| Equity-method investments | 1,479,621 | 1,462,459 |
| Other financial assets | 738,362 | 555,655 |
| Financial receivables | 369,041 | 365,175 |
| Other receivables and other assets | 147,606 | 130,958 |
| Deferred tax assets | 166,191 | 169,419 |
| 4,464,715 | 4,257,651 | |
| Current assets | ||
| Inventories | 120,946 | 120,088 |
| Financial receivables | 101,923 | 81,294 |
| Trade receivables | 3,718,667 | 3,691,166 |
| Other receivables and other assets | 247,049 | 311,683 |
| Current income tax assets | 21,674 | 26,144 |
| Marketable securities | 774,467 | 766,384 |
| Cash and cash equivalents | 1,338,570 | 1,402,527 |
| 6,323,296 | 6,399,286 | |
| 10,788,011 | 10,656,937 |
| (EUR thousand) | Mar. 31, 2008 | Mar. 31, 2007 |
|---|---|---|
| Liabilities and Shareholders' Equity Shareholders' equity | ||
| Attributable to the Group | 2,268,432 | 2,297,720 |
| Minority interest | 676,903 | 703,100 |
| 2,945,335 | 3,000,820 | |
| Non-current liabilities | ||
| Provisions for pensions and similar obligations | 28,630 | 29,010 |
| Other provisions | 312,396 | 316,382 |
| Financial liabilities | 1,421,608 | 1,324,028 |
| Other liabilities | 81,492 | 79,434 |
| Deferred tax liabilities | 83,093 | 82,103 |
| 1,927,219 | 1,830,957 | |
| Current liabilities | ||
| Other provisions | 757,828 | 755,158 |
| Financial liabilities | 1,089,923 | 642,719 |
| Trade payables | 3,760,865 | 4,143,392 |
| Other liabilities | 292,817 | 273,902 |
| Current income tax liabilities | 14,024 | 9,989 |
| 5,915,457 | 5,825,160 | |
| 10,788,011 | 10,656,937 |
