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KD Holding Group
Notes to Consolidated Financial Statements as at and for the year ended 31 December 2007
The tax on the Group’s profit before tax differs from the theoretical amount that would arise using the
weighted average tax rate applicable to profits of the consolidated companies as follows:
(in EUR) 2007 2006
Profit before tax 47,456,900 28,722,371
Tax calculated at domestic tax rates applicable to profits in the
respective countries
(11,093,938) (7,147,220)
Income not subject to tax 4,542,968 3,356,177
Expenses not deductible for tax purposes (5,284,546) (3,499,708)
Utilisation of previously unrecognised tax losses 690,293 995,037
Tax losses for which no deferred income tax asset was recognised (1,366,093) (1,549,888)
Tax charge (12,511,316) (7,845,602)
Effective tax rate 26.36% 27.32%
The tax authorities may at any time inspect the
books and records within 5 years subsequent to the
reported tax year, and may impose additional tax
assessments and penalties. Some of the subsidiaries
have been the subject of the tax inspection in the
last years, but the parent company has not been
inspected by the tax authorities since 2001 when it
was established. The Group's management is not
aware of any circumstances which may give rise to
a potential material liability in this respect.
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29. Earnings per share
by the weighted average number of ordinary shares
in issue during the year, excluding ordinary shares
Basic earnings per share is calculated by dividing
the profit attributable to equity holders of the Group,
adjusted for the amount of preference dividends,
purchased by the Group and held as treasury
shares. There are no potential dilutive shares.
(in EUR) 2007 2006
Basic
Profit attributable to equity holders of the Group 32,341,428 18,210,040
Weighted average number of ordinary shares in issue 2,613,439 2,620,354
Basic and diluted earnings per share (EUR per share) 12.38 6.95