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B Consolidated Annual Financial Statements/Notes V. Notes to the Consolidated Financial Statements of <strong>Salzgitter</strong> <strong>AG</strong> 260 261 The amount of provisions in the balance sheet is calculated as follows: in T€ FY 2007 FY 2006 Cash value of fund-financed obligations 5,355 5,358 Fair value of plan assets – 4,269 –4,266 1,086 1,092 Cash value of non-fund-financed obligations 1,790,659 1,713,745 Reported pension provisions 1,791,745 1,714,837 The provisions for pensions have developed as follows: in T€ FY 2007 FY 2006 Opening balance, January 1 1,714,837 1,724,589 Transfer –187 2,665 Transfer to other account – 217 Changes in the consolidated group 145,352 – Used –119,579 –114,643 Reversal Adjustment in line with actuarial assumptions, –3,664 –618 no effect on income –38,052 10,917 Allocations 15,318 21,085 Interest added 77,720 70,625 Closing balance, December 31 1,791,745 1,714,837 Consolidated Annual Financial Statements
(35) Other Provisions The development of the other short-term and long-term provisions is shown in the following table: FY 2007 in T€ Status 1/1 Currency Addition/Disposals Transfer differences from changes in consolidated group Other taxes 7,540 –37 –1,482 500 Personnel 116,937 – 20,746 95 of which anniversary provisions of which for the social plan/ [35,502] [–] [2,819] [–4] age-related part-time employment [54,495] [–] [13,236] [198] Operating risks 104,053 – – – Other risks 176,612 –170 38,184 64 of which markdowns/complaints [50,296] [–43] [26,565] [–] Total 405,142 –207 57,448 659 The comparable figures for the previous year were as follows: FY 2006 in T€ Status 1/1 Currency Addition/Disposals Transfer differences from changes in consolidated group Other taxes 8,454 – 42 – 14 Personnel 138,194 – 295 –5 of which anniversary provisions [35,957] [–] [51] [2] of which for the social plan/agerelated part-time employment [65,766] [–] [301] [–] Operating risks 76,244 – – – Other risks 158,637 –188 –423 – of which markdowns/complaints [49,498] [–85] [–] [–] Total 381,529 –230 –128 9
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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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“We listen to the bridge - 24 hou
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B Consolidated Annual Financial Sta
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II. Consolidated Balance Sheet Asse
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IV. Cash Flow Statement (43) Cash F
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Page 208 and 209: B Consolidated Annual Financial Sta
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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
Page 295 and 296: F Forfaiting Sale of export receiva
Page 297 and 298: Technical Terms A Annealing furnace
Page 299 and 300: Pilger rolling Conventional step-fo
Page 301 and 302: III. Financial Calendar of Salzgitt
Page 303: IV. Editorial Details and Contact C
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