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Liabilities
The good earnings development of the overall Group is reflected in increased
equity.Equity within the Group amounts to EUR 71.7 million, compared with
EUR 49.8 million in the previous year.The equity ratio of the Group increased to
21.4%, compared with 16.3% in the previous year.
Long-term liabilities decreased slightly from EUR 79.9 million to EUR 78.5 million.
These include pension obligations and long-term liabilities vis-à-vis financial
institutions, as well as the convertible profit-sharing certificates up to a volume
of EUR 50 million. All convertible profit-sharing privileges continue to be in circulation.
No conversions have so far been effected. No notable trading activities on
the profit-sharing privileges were reported on the stock exchanges.
Short-term liabilities vis-à-vis financial institutions increased slightly by EUR 2.6
million, from EUR 83.3 million in 2005 to EUR 85.9 million in 2006. This meant that
the Group’s growing business development was financed primarily from the positive
cash flow and not at the expense of interest-bearing bank liabilities. Trade
payables within the Group increased by EUR 5.5 million, from EUR 53.5 million to
EUR 59.0 million, due to the sales expansion.
Equity and Liabilities 31 Dec 2006 31 Dec 2005
TEUR
TEUR
A. Equity
I. Subscribed capital 36,495 36,495
II. Capital reserve 6,463 5,581
III. Earnings reserve 6,717 2,987
IV. Net income for the year 13,453 –3,218
V. Shares held by other shareholders 9,371 8,316
VI. Treasury stock –784 –350
Equity 71,715 49,811
B. Long-term liabilities
Long-term liabilities 78,543 79,926
C. Short-term liabilities
I. Short-term provisions 11,668 15,991
II. Short-term liabilities to banks 85,935 83,335
III. Liabilities from supplies and services short-term 58,961 53,498
IV. Other short-term liabilities 27,814 22,651
Short-term liabilities 184,377 175,475
Equity and liabilities 334,635 305,213
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