Technologies · Systems · Solutions - Dürr

9. Discontinued operations
Consolidated financial statements of Dürr AG
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In the local financial statements of the foreign subsidiaries, goodwill is translated at the mean
rate prevailing on the consolidated balance sheet date. Goodwill that is not accounted for in the
local financial statements of the subsidiaries is accounted for at the historical exchange rate
(at the time of acquisition) as of the consolidated balance sheet date. Hidden reserves disclosed
from the acquisition are accounted for in euros as these were only incurred at companies whose
local currency is the euro.
In connection with the strategic realignment of the Group, at its meeting on February 23, 2005,
the Supervisory Board of Dürr AG approved the resolution of the Board of Management to
discontinue certain operations.
Dürr decided to sell the Services business unit in 2005. It was also decided to examine strategic
options for the Development Test Systems (DTS) product line belonging to the Measuring Systems
business unit in 2005. These options range from a minority shareholding to a complete sale.
The current earnings from the discontinued operations Services and DTS break down as follows:
Services business unit DTS product line Discontinued operations
2004 2003 2004 2003 2004 2003
Amounts in €k
Sales revenues 158,582 146,082 74,459 80,904 233,041 226,986
Cost of sales –136,419 –123,519 –57,981 –70,191 –194,400 –193,710
Gross profit on sales 22,163 22,563 16,478 10,713 38,641 33,276
Selling expenses –1,466 –1,193 –14,462 –10,574 –15,928 –11,767
General and administrative expenses –12,804 –12,202 –8,698 –6,193 –21,502 –18,395
Research and development costs
Other operating
– – –1,643 –3,466 –1,643 –3,466
income and expenses
Restructuring expenses
–94 –149 241 –2,140 147 –2,289
and impairment losses
Operating result of
– – –6,652 –2,283 –6,652 –2,283
discontinued operations 7,799 9,019 –14,736 –13,943 –6,937 –4,924
Finance cost/income 347 129 –165 –41 182 88
Earnings before taxes 8,146 9,148 –14,901 –13,984 –6,755 –4,836
Income taxes –1,842 –2,352 1,691 –1,133 –151 –3,485
Net income/loss 6,304 6,796 –13,210 –15,117 –6,906 –8,321