iesy Repository GmbH - Irish Stock Exchange

Inventories are valued at acquisition cost or at the lower attributable value. For stocks with a turnover of more than
one year a lump-sum allowance of 25 % is set up.
Receivables, other assets, cash and cash at banks are valued at face value or at the lower attributable value on
balance sheet date. The identifiable risks of trade receivables have been adequately considered by a special allowance for bad
debt. General default risk is adequately considered by a lump sum allowance.
Currency balances are valued with period end exchange rate considering the ceiling value principle.
Prepaid expenses include expenditures occurred before balance sheet date which will result in expenses for the period
after balance sheet date.
Pension provisions are valued pursuant to section 6a EStG with the actuarial going concern value. The interest rate
applied is 6% per annum.
Other provisions and accruals have been accrued at the amounts necessary to cover all identifiable risks.
Liabilities have been valued at their repayment amounts.
Deferred income has been accrued for revenues generated before balance sheet date that will result in income after
balance sheet date.
Deferred taxes, if applicable, are valued in compliance with provisions of German Commercial Code. Provisions of
DRS 10 are not applied. € 110 mill. deferred tax assets result from tax losses carried forward for which no deferred taxes on
the asset side have been capitalized.
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