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:
|
|
€k |
|
|
October 1, 1999 |
|
Product know-how |
206,664 |
|
Goodwill |
351,623 |
|
Negative goodwill |
–1,274 |
|
|
557,013 |
The amortization arising from this has impacted net profit on operating activities as follows:
|
|
€k | |
|
|
1st quarter |
1st quarter |
|
Amortization of product know-how |
2,421 |
3,620 |
|
Group Income Statement before Profit Charges |
€k | |
|
|
1st quarter |
1st quarter |
|
Net sales |
645,647 |
601,632 |
|
Cost of sales |
–480,023 |
–442,017 |
|
Gross profit |
165,624 |
159,615 |
|
Research and development expenses |
–23,945 |
–23,008 |
|
Selling, general and administration expenses |
–85,651 |
–84,842 |
|
Operating profit (EBIT) |
56,028 |
51,765 |
|
Goodwill amortization |
0 |
0 |
|
EBITA |
56,028 |
51,765 |
|
Amortization/depreciation of property rights, licenses and property, plant and equipment and writedown of reworkable service parts |
12,915 |
10,520 |
|
EBITDA |
68,943 |
62,285 |
