The Wincor Nixdorf Group was demerged from Siemens Group by means of a leveraged buy-out on October 1, 1999. The amount of the purchase price paid over and above net assets acquired was divided up as follows:
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|
|
€k |
|
|
Oct. 1, 1999 |
Product know-how |
|
206,664 |
Goodwill |
|
351,623 |
Negative goodwill |
|
–1,274 |
|
|
557,013 |
The book value of the goodwill as of September 30, 2006 was €280,104k (previous year: €280,104k).
The consequences of this affected profit before taxes as follows:
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|
|
|
|
€k |
|
|
2005/2006 |
|
2004/2005 |
Amortization of product know-how |
|
20,031 |
|
26,213 |
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Statement of Income before Profit Charges arising from the Carve-out. |
|
€k |
||
|
|
2005/2006 |
|
2004/2005 |
Net sales |
|
1,947,569 |
|
1,743,732 |
Cost of sales |
|
–1,412,218 |
|
–1,257,533 |
Gross profit |
|
535,351 |
|
486,199 |
Gross margin (%) |
|
27.5 % |
|
27.9 % |
Research and development expenses |
|
–87,437 |
|
–78,007 |
Selling, general and administration expenses |
|
–290,683 |
|
–270,619 |
Other operating income |
|
4,507 |
|
993 |
Other operating expenses |
|
–921 |
|
–1,965 |
Operating profit (EBIT) |
|
160,817 |
|
136,601 |
Goodwill amortization |
|
0 |
|
0 |
EBITA |
|
160,817 |
|
136,601 |
Amortization/depreciation of property rights, licenses and property, plant and equipment and write-down of reworkable service parts |
|
42,178 |
|
31,316 |
EBITDA |
|
202,995 |
|
167,917 |
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Profit Attributable to Equity Holders of Wincor Nixdorf AG before Carve-out per Share. |
|
€k |
||
|
|
2005/2006 |
|
2004/2005 |
Profit attributable to equity holders of Wincor Nixdorf AG |
|
81,008 |
|
54,909 |
Amortization product know-how |
|
20,031 |
|
26,213 |
Calculated tax effect |
|
–7,812 |
|
–10,223 |
Profit attributable to equity holders of Wincor Nixdorf AG before carve-out |
|
93,227 |
|
70,899 |
Shares for calculation of profit attributable to equity holders of Wincor Nixdorf AG before carve-out per share (in thousands) |
|
16,542 |
|
16,542 |
Profit attributable to equity holders of Wincor Nixdorf AG before carve-out per share (€) |
|
5.64 |
|
4.29 |