Wincor Nixdorf was demerged from Siemens Group by means of leveraged buy-out on October 1, 1999. The amount of the purchase price exceeding the net assets acquired was divided as follows:
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k€ |
|
|
|
Oct. 1, 1999 |
|
Product know-how |
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206,664 |
|
Goodwill |
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351,623 |
|
Negative goodwill |
|
-1,274 |
|
|
|
557,013 |
The amortization arising from this has impacted net profit on ordinary activities as follows:
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|
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k€ |
|
|
|
1st quarter |
|
1st quarter |
|
Amortization of product know-how |
|
3,807 |
|
5,785 |
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Statement of Income before Profit Charges arising from the Carve-out |
|
k€ | ||
|
|
|
1st quarter |
|
1st quarter |
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Net sales |
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548,551 |
|
488,169 |
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Cost of sales |
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-401,546 |
|
-354,096 |
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Gross profit |
|
147,005 |
|
134,073 |
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Research and development expenses |
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-21,522 |
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-19,495 |
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Selling, general and administration expenses |
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-79,287 |
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-76,039 |
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Other operating result |
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0 |
|
4 |
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Operating profit (EBIT) |
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46,196 |
|
38,543 |
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Goodwill amortization |
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0 |
|
0 |
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Operating profit (EBITA) |
|
46,196 |
|
38,543 |
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Amortization/depreciation of property rights, licenses and property, plant and equipment and writedown of reworkable service parts |
|
11,062 |
|
8,255 |
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EBITDA |
|
57,258 |
|
46,798 |