Annual report 2008 - Advanced Inflight Alliance AG

Financial management
Our financial management is planned and managed Groupwide. This serves to ensure that the subsidiaries
can fulfill their obligations at all times and that acquisitions do not overwhelm the Group‘s finances. The
chief financial officer manages a finance team that includes the subsidiaries‘ finance managers in addition
to the staff of the parent company‘s finance department.
Financing activities
The acquisitions in 2008 were largely financed through available funds. We obtained an unsecured loan
from HypoVereinsbank AG, Munich, in connection with the acquisition of DTI in order to enhance the Group‘s
liquidity. Collateralized loan liabilities of DTI were also refinanced using these borrowings.
Cash flow statement
The net cash flow from operating activities climbed significantly to EUR 12,507 thousand, up from EUR 4,574
thousand the previous year.
The net cash flow of EUR -15,898 thousand from investing activities is essentially due to the acquisition of
both DTI and Fairdeal for a total of EUR 17,147 thousand.
The related refinancing by means of a EUR 10,796 thousand loan resulted in a net cash flow of EUR 3,294
thousand from financing activities.
Cash and cash equivalents declined from EUR 18,955 thousand as of the previous year‘s reporting date to
EUR 17,474 thousand as of the close of the financial year just ended. The total of EUR 19,642 thousand
in cash and cash equivalents as of December 31, 2007, included shares in funds recognized at EUR 687
thousand.
Please see the cash flow statement in these consolidated financial statements for information regarding
the Group‘s liquidity and financial position. For the most part, cash inflows stemmed from the subsidiaries‘
operating income and the loan from HypoVereinsbank AG, Munich. The cash outflows were mainly related
to the acquisition of two companies in 2008, DTI and Fairdeal.
Investments
The most significant investments, i.e. the acquisition of DTI and Fairdeal, resulted in a cash outflow of EUR
17.1 million.
III. Disclosures pursuant to Section 315 (4) German Commercial Code (Takeover Directive
Implementation Act)
The share capital of AIA AG amounted to EUR 14,500,000.00 as of December 31, 2008 and was divided into
the same amount of no-par value shares. Each share entitles the holder to one vote at the Annual General
Meeting. There do not exist different share classes.
The Management Board is not aware of any restrictions on voting rights or the transfer of shares.
There are no direct or indirect equity interests exceeding 10% of voting rights.
There are no shares with special rights conferring supervisory powers.
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