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The reconciliations of sales, income from companies accounted for
using the equity method, interest expense and of EBIT to EBT
according to the statement of income are presented below:
million €
Year ended
Sept. 30,
2010
Year ended
Sept. 30,
2011
Sales as presented in segment reporting 42,621 49,092
- Sales of Stainless Global (5,901) (6,739)
+ Sales of Stainless Global to Group companies 595 723
+ Sales of Group companies to Stainless Global 396 280
Sales as presented in the statement of income 37,711 43,356
Sales in the amount of €280 million (2009/2010: €396 million) result
from sales of Group companies to Stainless Global. These business
relationships shall also be continued after the disposal. They mainly
relate to services provided by the Steel Europe business area to
Stainless Global.
million €
Year ended
Sept. 30,
2010
Year ended
Sept. 30,
2011
Income from companies accounted for using the equity
method as presented in segment reporting 56 74
- Income form companies accounted for using the equity
method of Stainless Global 0 (3)
Income from companies accounted for using the equity
method as presented in the statement of income 56 71
million €
Year ended
Sept. 30,
2010
Year ended
Sept. 30,
2011
Interest expense as presented in segment reporting 645 886
- Interest expense of Stainless Global (2) (6)
Interest expense as presented in the statement of income 643 880
million €
Year ended
Sept. 30,
2010
Year ended
Sept. 30,
2011
EBIT as presented in segment reporting
- Depreciation of capitalized borrowing costs eliminated
1,346 (988)
in EBIT (15) (42)
+ Interest income 347 306
- Interest expense (645) (886)
+ Other financial income/(expense), net
- Items of other financial income/(expense), net assigned
82 10
to EBIT based on economic classification 20 22
EBT - Group 1,135 (1,578)
- EBT Stainless Global 70 827
EBT as presented in the statement of income 1,205 (751)
Consolidated financial statements
190 | 191
The aggregate investment in investees accounted for using the equity
method reconciles to the aggregate amount according to the statement
of financial postion as presented below:
million €
Year ended
Sept. 30,
2010
Year ended
Sept. 30,
2011
Aggregate investment in investees accounted for using
the equity method as presented in segment reporting 522 608
- aggregate investment in investees accounted for
using the equity method that are held for sale 0 (15)
Aggregate investment in investees accounted for using
the equity method as presented in the statement of
financial position 522 593
In presenting information for geographical areas, allocation of sales is
based on the location of the customer. Allocation of segment assets
and capital expenditures is based on the location of the assets. Capital
expenditures are presented in line with the definition of the cash flow
statement.
The geographical segment “Other EU” comprises of all member states
of the European Union (besides Germany) as of the current reporting
date. European countries which are currently not member of the
European Union are part of the “Other countries” segment. The
“Americas” segment includes the countries of the Nafta and of South
America. The “Asia/Pacific” segment consists of Asia and Australia.
Due to the high volume of customers and the variety of business
activities, there are no individual customers that generate sales values
that are material to the Group’s consolidated net sales.