Common use of Operating Segments Clause in Contracts

Operating Segments. Amendments to IAS 1 (2007) Presentation of Financial Statements: A Revised Presentation Amendment to IAS 23 Borrowing Costs Amendments to IAS 27 (2008) Consolidated and Separate Financial Statements Amendments to IAS 32 und IAS 1 Puttable Financial Instruments and Obligations Arising on Liquidation Amendments to IFRS 1 und IAS 27 Cost of an Investment in a Subsidiary, Jointly-Controlled Entity or Associate Amendment to IAS 39 Financial Instruments: Recognition and Measurement: Eligible Hedged Items Amendment to IAS 39 Reclassification of Financial Assets: Effective Date and Transition IFRIC 12 Service Concession Arrangements IFRIC 13 Customer Loyalty Programmes IFRIC 15 Agreements for the Construction of Real Estate IFRIC 16 ▇▇▇▇▇▇ of a Net Investment in a Foreign Operation IFRIC 17 Distributions of Non-Cash Assets to Owners. The amendments made under the IASB’s Annual Improvement Project 2007 are similarly not required to be applied in 2008. The Management Board believes that the initial application of the above will have no material effect on the Company’s financial position, cash flows and liquidity or results of operations. Initial application of the revised IAS 1 will result in a modified presentation of, in particular, the income statement and statement of changes in equity. The annual financial statements are prepared in euros (EUR). All amounts are stated in thousands of euros (EUR’000) where not otherwise indicated. Amounts are rounded according to commercial practice. Additions or other calculations may contain rounding differences. The Company’s financial year is the calendar year. The annual financial statements have been prepared on the basis of the recognition of the assets and liabilities at amortized cost, except for derivative financial instruments, which are recognized at fair value at the reporting date. In the balance sheet, assets and liabilities are classified according to maturity. Assets and liabilities that are expected to be sold, used in the normal course of business or settled within twelve months are classified as current. Liabilities are treated as current if they are required to be settled within twelve months from the reporting date. The income statement is presented using the nature of expense method. Annex 1.5 / 2