Annual Report 2001 - Flughafen Wien

Annual Report 2001
(19) Share capital
___As of 31 December 2001 share capital totalled € 152,670,000.--. It is divided into 21,000,000
bearer shares of common stock.
___At the tenth (extraordinary) Annual Meeting on 15 November 2000, a resolution was
passed approving the repurchase of 10% of capital stock for transfer to a private fund for
employees. On 30 November 2000 a total of 2,100,000 shares, or 10% of share capital, was
repurchased. These shares were transferred to “Flughafen Wien Mitarbeiterbeteiligung
Privatstiftung“ on 20 December 2000 (2,000,000 shares) and 2 February 2001 (100,000 shares).
The shares owned by this fund have both voting and dividend rights.
(20) Share premium
___Appropriated reserves consist of a T€ 92,221.8 premium received on the stock issue in
1992 and the T€ 25,435.5 premium realised on the share capital increase in 1995.
(21) Retained earnings and reserves
___This item includes retained earnings from prior business years, the reduction in reserves
following the initial consolidation in accordance with IAS, untaxed reserves after the deduction
of deferred taxes, treasury stock, and the revaluation reserve for securities after the
deduction of deferred taxes.
___Revaluation losses of T€ 107.0 charged to reserves in 2001 represent necessary writedowns
to the 100,000 of treasury stock shares transferred to “Flughafen Wien Mitarbeiter
Beteiligung Privatstiftung” on 2 February 2001. The line item “fund” contains the offset of
deferred tax assets resulting from the Austrian Capital Markets Offensive Act with the provisions
for reimbursement of taxes arising from the employee foundation.
(22) Non-current provisions
in T€ 2001 2000
Provisions for severance compensation 32,598.3 35,570.7
Provisions for pensions 56,606.0 73,099.9
Provisions for service anniversary bonuses 6,346.9 5,971.4
Provisions for part-time work for older employees 2,864.6 0.0
Provisions for reimbursement to employee fund 21,391.0 21,391.0
119,806.8 136,032.9
___Calculations for obligations arising from severance compensation, pensions, and service
anniversary bonuses and related expenses for coverage requirements were based on the
following factors.
Factors 2001 2000
Discount rate 5.0% 6.0%
Wage and salary increases 3.5% 3.5%
Retirement trend (only for pensions) 1.5% 1.5%
Notes 87