ANNUAL REPORT - HSE
ANNUAL REPORT - HSE
ANNUAL REPORT - HSE
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OPERATING EFFICIENCY RATIO 2008 2007<br />
1. Operating revenue in € 820,305,717 923,302,179<br />
2. Costs of goods, materials and services in € 766,089,817 895,889,987<br />
3. Labour costs in € 6,545,268 5,950,139<br />
4. Write-downs in value in € 1,493,117 16,985,578<br />
5. Other operating expenses in € 11,050,720 1,993,478<br />
6. Total operating expenses in € (2 + 3 + 4 + 5) 785,178,922 920,819,182<br />
Operating efficiency ratio = 1 / 6 1.04 1.00<br />
The company's operating revenue exceeded its operating expenses by 4% in 2008. The ratio has improved compared<br />
with 2007 as there was a bigger decrease in operating expenses than in operating revenue.<br />
NET RETURN ON EQUITY 2008 2007<br />
1. Net profit or loss for the accounting period in € 53,756,215 12,411,197<br />
2. Average equity in € 777,991,982 736,094,110<br />
Net return on equity = 1 / 2 0.07 0.02<br />
In 2008 the company generated € 7 of net profit per € 100 of equity invested. The ratio increased by 5 percentage<br />
points from 2007, mostly due to an increase in the company's net profit or loss.<br />
TOTAL FINANCIAL LIABILITIES / EBITDA 31/12/2008 31/12/2007<br />
1. Long-term financial liabilities in € 161,267,186 96,929,963<br />
2. Short-term financial liabilities in € 9,811,956 35,374,714<br />
3. Total financial liabilities in € (1 + 2) 171,079,142 132,304,677<br />
4. Operating profit or loss in € 35,126,795 2,482,997<br />
5. Depreciation and amortisation in € 1,458,542 2,236,463<br />
6. EBITDA in € (4 + 5) 36,585,337 4,719,460<br />
Total financial liabilities / EBITDA = 3 / 6 4.68 28.03<br />
The ratio shows the relationship between the company's debt and EBITDA. The ratio improved considerably compared<br />
with the end of 2007 due to higher operating profit or loss for the year 2008<br />
TOTAL FINANCIAL LIABILITIES / EQUITY 31/12/2008 31/12/2007<br />
1. Long-term financial liabilities in € 161,267,186 96,929,963<br />
2. Short-term financial liabilities in € 9,811,956 35,374,714<br />
3. Total financial liabilities in € (1 + 2) 171,079,142 132,304,677<br />
4. Equity in € 798,817,478 757,166,486<br />
Total financial liabilities / Equity = 3 / 4 0.21 0.17<br />
<strong>ANNUAL</strong> <strong>REPORT</strong> <strong>HSE</strong> | BUSINESS <strong>REPORT</strong><br />
The ratio shows the relationship between the company's debt and equity. The ratio increased compared with the end<br />
of 2007 due to a higher indebtedness of the company.<br />
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