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B Consolidated Annual Financial Statements/Notes V. Notes to the Consolidated Financial Statements of Salzgitter AG 246 247 Notes to the Balance Sheet Non-current Assets (15) Goodwill All of the goodwill relates to the shares in Klöckner-Werke AG, Duisburg, and its participations, which were newly acquired in 2007. The goodwill was assigned to the KHS Group. No need for impairment was ascertained in the reporting year. (16) Other Intangible Assets The development of the individual items under other intangible assets is shown in the analysis of fixed assets. The acquisition of Klöckner-Werke AG and its participations led to the first-time capitalization of development costs totaling € 11.6 million in the reporting year. Total expenditure on research and development in the reporting period amounted to € 68.8 million (2006: € 67.0 million), including € 9.4 million (2006: € 8.7 million) for external parties. There are no material restraints on the right of ownership or disposal. As part of the purchase price allocation for Klöckner-Werke AG, brand names, customer relationships and technologies were identified as intangible assets and recognized in the balance sheet at € 66.9 million on the date of their first-time consolidation. This resulted in a net book value of € 65.7 million as of the reporting date. Consolidated Annual Financial Statements
(17) Property, Plant and Equipment The development of the individual items under property, plant and equipment is shown in the analysis of fixed assets. Breakdown of property, plant and equipment at their book values: in T€ 31/12/2007 31/12/2006 Land and buildings 496,743 400,631 Plant equipment and machinery 976,659 893,437 Other equipment, factory and office equipment Equipment under construction/payments 74,973 51,272 made on account 249,443 78,049 Property, plant and equipment 1,797,818 1,423,389 The book values of the assets capitalized as finance leases in accordance with IAS 17 are shown in the following table: in T€ 31/12/2007 31/12/2006 Buildings 5,400 2,640 Plant equipment and machinery 31,595 30,636 Other equipment, factory and office equipment 1,046 1,731 Assets capitalized as finance leases 38,041 35,007 The amount of the reported impairment charges is shown under Note 6. Restrictions on the right of ownership or disposal amounted to € 34.8 million (2006: € 38.2 million). (18) Investment Property Due to the acquisition of Klöckner-Werke AG and RSE AG and their subsidiaries, investment property amounting to € 26.5 million was reported for the first time in the reporting year. The properties in question are developed and undeveloped properties which are not held for production or administration purposes. Their fair values as of the reporting date correspond to those reported in the balance sheet, as these were ascertained as part of the purchase price allocation.
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Annual Report 2007 Financial Year f
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1) 2006 included in “Other region
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Highlights of the Financial Year 20
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Contents The Salzgitter Group 5 Key
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Preface by the Executive Board Ladi
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The financial year 2007 was another
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Report of the Supervisory Board The
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Alongside the extensive investment
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Corporate Governance Report Corpora
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In order to prepare its decisions,
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Transparency To ensure that shareho
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What does it feel like to steer 100
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A Group Management Report and Manag
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94.9% 94.9% 51.0% 94.8% A Group Man
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1) Including amounts provisioned fo
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1) The amounts presuppose that the
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“I wish I could also sleep in it.
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3. Management and Control of the Co
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Groupwide Investment Volume 1996/19
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The Group’s excellent performance
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Management and Control Instruments
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in € mil. FY 2007 FY 2006 EBT 1,3
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Can a sports facility lend wings to
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“For a whole year we really did e
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“We could only imagine making the
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Sources: XETRA closing prices, DBAG
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1) All data as per December 31 2) C
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“At first I had no idea what it w
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R&D expenses by Division Steel 47%
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Continuous strip casting Together w
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Steel Division environmental expens
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Core workforce 1998 Steel 10,471 Tr
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Generation campaign A Group operati
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4. Earnings Steel Trading Tubes Ser
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5. The Divisions As the management
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Steel Division Shipments 0 1,000 2,
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1) Excluding intercompany deliverie
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SMHD Group made the major contribut
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Tubes Division The companies belong
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capacity utilization throughout the
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Services Division The companies bel
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1) Sales in own segment and in othe
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Sales in the Technology Division in
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How does steel serve science? What
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“Our motto is ‘I discover.’
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“For a long-span roof constructio
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6. Profitability Improvement Progra
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“They just loved the experiments.
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7. Financial Position Financial Man
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8. Net Assets The total assets of o
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1) Including intangible assets 2) I
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Disclosures pursuant to Sections 28
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10. General Statement on the Econom
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2. Individual Risks Environment and
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Financial Risks A Group Management
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GDP Germany: Forecast Range 2008/20
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Power Plant Capacity Trend GW 8,000
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4. Anticipated Financial Position W
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6. Overall Statement on the Perform
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Why is it worth listening to what a
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Page 200 and 201: IV. Cash Flow Statement (43) Cash F
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Page 283 and 284: The Services Division includes DEUM
Page 285 and 286: (46) Related Party Disclosures In a
Page 287 and 288: (49) Waiver of Disclosure and Prepa
Page 289 and 290: VI. Auditor’s Report This report
Page 291 and 292: I. List of Company Abbreviations SZ
Page 293 and 294: II. Glossary Business and Financial
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F Forfaiting Sale of export receiva
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Technical Terms A Annealing furnace
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Pilger rolling Conventional step-fo
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III. Financial Calendar of Salzgitt
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IV. Editorial Details and Contact C
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