PDF - Part of the Annual Report - Ludwig Beck

46 | Management Report
Consolidated DVFA/SG-based earnings
According to the DVFA (German Association of Financial
Analysts) calculation of earnings, profits are to be
encumbered with deferred taxes in years following losses,
even though Ludwig Beck was once again effectively
exempted from tax in the past fiscal year.
DVFA/SG-based earnings of
Ludwig Beck Group
2001 2000
€ million € million
Net income 3.8 5.2
Deferred taxes -1.6 -2.5
Minority interests 0.3 0.0
DVFA/SG-based earnings 2.5 2.7
Earnings per share (€) 0.78 0.83
IAS-based earnings
Companies listed in the SMAX segment of the German
stock exchange are obliged to publish annual financial
statements according to international accounting standards
for years beginning after December 31, 2001.
Ludwig Beck has once again already fulfilled this future
obligation in its annual financial statements for 2001
with the inclusion of a reconciliation table according
to IAS (International Accounting Standards).
Reconciliation chart acc. to IAS
2001 2000
€ million € million
Consolidated net income
acc. to HGB 3.8 5.2
Adjustments to IAS:
Financial leasing 0.1 0.1
Intangible assets 0.1 0.1
Own shares 0.0 0.1
Discounted liabilities -0.7 0.0
Others 0.0 0.1
Deferred taxes -1.6 -2.4
Change in value of loss
carryforward 0.0 -1.2
Result acc. to IAS 1.7 2.0
Outstanding shares (million) 3,180 3,310
Undiluted results per share (€) 0.52 0.59