Annual Report 2001 - Flughafen Wien

Annual Report 2001
(6) Other financial results
in T€ 2001 2000
Income from the disposal
of financial assets 238.2 0.0
Income from the disposal and revaluation
of current securities 2,134.0 67.0
Losses on the disposal of current securities -1,339.5 -2,567.2
Expenses arising from financial assets and
current securities 0.0 -8,627.2
1,032.7 -11,127.4
(7) Reimbursement of Tax Expense “KMOG“ Fund
___In 2000, the reimbursement of tax expense to the “KMOG“ fund totalled T€ 3,350.0. This
includes corporate income tax for the employee fund (“Flughafen Wien Mitarbeiter Beteiligung
Privatstiftung“), which is to be carried by Flughafen Wien AG as required by the fund’s declaration
of formation and in accordance with the provisions of the Austrian Capital Markets
Offensive Act (“Kapitalmarktoffensivgesetz” or KMOG). No such expenses occurred in 2001
because of an appropriate provision that was created in the prior year.
(8) Taxes on income
in T€ 2001 2000
Current tax expense 24,731.2 24,950.2
Deferred taxes 8,693.9 5,064.2
33,425.2 30,014.4
Tax savings from reimbursement of tax expense
“KMOG“ fund -2,854.1 -3,859.7
30,571.1 26,154.6
___Tax savings from the reimbursement of tax expense “KMOG“ fund reflects tax savings
realised by the Company from the employee fund in accordance with the Austrian Capital
Markets Offensive Act. The difference between the theoretical tax rate (Austrian corporate tax
rate of 34%) and the effective tax rate shown in the financial statements is due to the following:
in T€ 2001 2000
Profit before tax after tax reimbursement
from “KMOG” fund 96,923.4 99,254.2
Theoretical income tax (tax rate: 34%) 32,954.0 33,746.4
Permanent differences and taxes related to other periods -2,382.9 -7,591.8
Income tax expense as per income statement 30,571.1 26,154.6
Effective tax rate 31.6% 26.4%
___For additional information on changes in deferred taxes, see Note (15) on the provision for
deferred taxes.
(9) Outstanding shares
___A total of 20,900,000 shares were outstanding at the beginning of the reporting year; of
this amount 100,000 shares were owned by Flughafen Wien AG. On 2 February 2001 the
100,000 shares owned by Flughafen Wien AG were transferred to “Flughafen Wien Mitarbeiterbeteiligung
Privatstiftung”, and the number of shares outstanding equalled 21,000,000 as of
this date.
Notes 83