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B Consolidated Annual Financial Statements/Notes V. Notes to the Consolidated Financial Statements of Salzgitter AG 248 249
The properties consist of the following:
in T€ 31/12/2007 31/12/2006
Klöckner-Werke AG 22,981 –
RSE Grundbesitz und Beteiligungs-AG 1,241 –
Klöckner Mercator Maschinenbau GmbH 1,200 –
KHS USA Inc. 1,106 –
Investment property 26,528 –
Rental income amounted to € 0.2 million in the reporting year. Direct operating expenses for the
investment property were basically incurred for properties that generated rental earnings in the
reporting year. These totaled € 0.1 million.
As of the reporting date there are no material obligations to carry out repairs, maintenance, improvements
etc.
(19) Financial Assets
The development of the individual items in financial assets is shown in the analysis of fixed assets.
Breakdown of financial assets:
in T€ 31/12/2007 31/12/2006
Shares in affiliated companies 33,932 25,427
Shareholdings 24,160 18,607
Non-current securities 46,276 16,292
Other loans 4,422 1,578
Financial assets 108,790 61,904
The increase in shareholdings in affiliated companies and participations results essentially from the
addition of Klöckner-Werke AG, which was consolidated for the first time in the reporting year, and its
partly non-consolidated affiliated companies and participations.
The increase in securities relates primarily to the shares in an Indian manufacturing company in the
tubes industry; these shares were valued at their market value.
The other loans are accounted for by one loan to a non-consolidated company and interest-bearing
housing loans to employees.
Consolidated Annual
Financial Statements