Technologies · Systems · Solutions - Dürr

Dependence on a few
customers
Use of estimates
11. Sales revenues
12. Personnel expenses
Consolidated financial statements of Dürr AG
97
The development of Dürr as an automotive supplier is dependent on the economic conditions of
the automotive industry and in particular its willingness to invest. A significant portion of the
Group’s revenues is generated with a limited number of customers because the worldwide market
for automobiles is dominated by a small number of corporations.
The preparation of the consolidated financial statements pursuant to IFRS requires the management
to make estimates and assumptions that affect the reported amounts of assets and liabilities
and the disclosure of contingent liabilities at balance sheet date and the reported amounts of revenues
and expenses during the reporting period. Actual figures may diverge from these estimates.
Issues that are especially dependent on the use of material estimates are the accounting treatment
and measurement of unbilled work in progress using the percentage-of-completion or zeroprofit
method, bad debt allowances, contingent liabilities and other provisions. In addition,
material estimates and assumptions have been used in determining the net realizable value of
long-lived assets and intangible assets of the Group and for the impairment tests of goodwill
conducted at the respective business units.
Notes to the consolidated income statements
Sales revenues break down as follows:
Amounts in €k
2004 2003
Contract revenues 1,750,237 1,895,512
Revenues from services 367,579 359,617
Other sales revenues 18,546 16,743
2,136,362 2,271,872
The expense positions of the income statement contain the following personnel expenses:
Amounts in €k
2004 2003
Wages and salaries 467,647 492,958
Social security contributions 103,254 115,788
570,901 608,746
of which old age pensions 8,675 9,783