Notes to the Consolidated Financial Statements
Accounting policies
The Consolidated Financial Statements as of March 31, 2009 are prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU. The Interim Financial Statements and the Interim Management Report have been neither audited nor reviewed.This quarterly report is based on the Consolidated Financial Statements as of and for the year ending December 31, 2008. This report has been prepared using the same accounting policies as the 2008 Consolidated Financial Statements. Information on those accounting policies is given in the 2008 Annual Report. All prior-year figures are calculated on the same basis.
Consolidation changes
There were no changes in the composition of the consolidated Group in the first three months of fiscal 2009. The Consolidated Financial Statements include HOCHTIEF Aktiengesellschaft and a total of 58 domestic and 340 foreign consolidated companies plus 15 domestic and 101 foreign companies accounted for using the equity method.Own shares
As of March 31, 2009, HOCHTIEF Aktiengesellschaft held a total of 3,499,753 shares of treasury stock. These shares were purchased over the course of fiscal 2008. 31,753 of the Company's own shares were purchased in order to offer them for purchase by persons in the Company's employment or the employment of an affiliate. 3,468,000 of the Company's own shares were purchased for the purposes provided for in the resolution of the General Shareholders' Meeting of May 8, 2008. These shares represent EUR 8,959,368 (4.9996 percent) of the Company's capital stock.Contingent liabilities
The contingent liabilities relate to liabilities under guarantees and letters of comfort; they have increased since December 31, 2008 by EUR 2,160,000 to EUR 29,801,000.Segment reporting
Segmental reporting in the HOCHTIEF Group is based on the Group's divisional operations. The breakdown by divisions and regions mirrors the Group's internal reporting systems. Detailed information on the various segments making up the HOCHTIEF Group is provided herein in the Interim Management Report.Related party disclosures
There has been no change in the companies and individuals comprising related parties of HOCHTIEF Aktiengesellschaft and HOCHTIEF Group companies. The information provided in this regard in the notes to the most recent Consolidated Financial Statements therefore continues to apply.No material transactions were entered into during the period under review between HOCHTIEF Aktiengesellschaft or any HOCHTIEF Group company and any related party or parties having material influence over the results of operations or financial condition of the Company or the Group.
