Interim Financial Statements
Consolidated Statement of Earnings
| (EUR thousand) | Q1-Q3 2008 | Q1-Q3 2007 | Percentage change | Q3 2008 | Q3 2007 | Full Year 2007 |
|---|---|---|---|---|---|---|
| Sales | 14,010,923 | 12,228,925* | 14.6 | 4,948,977 | 4,329,767 | 16,451,752 |
| Changes in inventories | 1,437 | 1,700 | -15.5 | 194 | (281) | (176) |
| Other operating income | 226,358 | 80,763 | 180.3 | 37,841 | 28,581 | 230,795 |
| Materials | (10,487,145) | (9,215,903) | 13.8 | (3,670,612) | (3,303,221) | (12,326,831) |
| Personnel costs | (2,312,682) | (2,017,794) | 14.6 | (755,191) | (672,154) | (2,806,801) |
| Depreciation and amortization | (249,929) | (231,402) | 8.0 | (83,017) | (89,467) | (312,490) |
| Other operating expenses | (873,672) | (739,314) | 18.2 | (320,880) | (246,892) | (1,113,357) |
| Profit from operating activities | 315,290 | 106,975 | 194.7 | 157,312 | 46,333 | 122,892 |
| Share of profits and losses of equity-method associated and jointly controlled entities | 197,691 | 134,172* | 47.3 | 6,928 | 68,832 | 265,883 |
| Net income from other participating interests | (5,503) | 74,259 | - | 12,070 | 41,097 | 88,420 |
| Investment and interest income | 79,004 | 85,449 | -7.5 | 19,840 | 23,063 | 130,608 |
| Investment and interest expenses | (171,157) | (57,757) | 196.3 | (73,058) | (18,025) | (106,482) |
| Profit before taxes | 415,325 | 343,098 | 21.1 | 123,092 | 161,300 | 501,321 |
| Income taxes | (147,744) | (127,349) | 16.0 | (44,618) | (50,967) | (160,301) |
| Profit after taxes | 267,581 | 215,749 | 24.0 | 78,474 | 110,333 | 341,020 |
| Of which: Consolidated net profit | 105,182 | 70,695 | 48.8 | 26,149 | 56,919 | 140,696 |
| Of which: Minority interest | 162,399 | 145,054 | 12.0 | 52,325 | 53,414 | 200,324 |
*Due to a change in presentation, the Group's share of profits and losses of jointly controlled entities in the first half of 2007 – an amount of EUR 34,575,000 – 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) | Sep 30, 2008 | Dec. 31, 2007 |
|---|---|---|
| Assets Non-current assets | ||
| Intangible assets | 506,328 | 505,145 |
| Property, plant and equipment | 1,225,590 | 1,027,641 |
| Investment properties | 57,376 | 41,199 |
| Equity-method investments | 1,600,761 | 1,462,459 |
| Other financial assets | 579,384 | 555,655 |
| Financial receivables | 357,035 | 365,175 |
| Other receivables and other assets | 168,324 | 130,958 |
| Deferred tax assets | 164,580 | 169,419 |
| 4,659,378 | 4,257,651 | |
| Current assets | ||
| Inventories | 150,582 | 120,088 |
| Financial receivables | 119,175 | 81,294 |
| Trade receivables | 4,259,818 | 3,691,166 |
| Other receivables and other assets | 206,790 | 311,683 |
| Current income tax assets | 16,329 | 26,144 |
| Marketable securities | 767,594 | 766,384 |
| Cash and cash equivalents | 1,589,912 | 1,402,527 |
| 7,110,200 | 6,399,286 | |
| 11,769,578 | 10,656,937 |
| (EUR thousand) | Sep. 30, 2008 | Dec. 31, 2007 |
|---|---|---|
| Liabilities and Shareholders' Equity Shareholders' equity | ||
| Attributable to the Group | 2,180,109 | 2,297,720 |
| Minority interest | 851,891 | 703,100 |
| 3,032,000 | 3,000,820 | |
| Non-current liabilities | ||
| Provisions for pensions and similar obligations | 38,284 | 29,010 |
| Other provisions | 368,406 | 316,382 |
| Financial liabilities | 1,510,541 | 1,324,028 |
| Other liabilities | 154,700 | 79,434 |
| Deferred tax liabilities | 95,771 | 82,103 |
| 2,167,702 | 1,830,957 | |
| Current liabilities | ||
| Other provisions | 779,492 | 755,158 |
| Financial liabilities | 1,134,600 | 642,719 |
| Trade payables | 4,348,188 | 4,143,392 |
| Other liabilities | 291,324 | 273,902 |
| Current income tax liabilities | 16,272 | 9,989 |
| 6,569,876 | 5,825,160 | |
| 11,769,578 | 10,656,937 |
